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Bank of America Corp. (BAC)

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Last Post: 4/23/2015 10:09:08 PM - Followers: 375 - Board type: Free - Posts Today: 0



Corporate Profile

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. We serve approximately 51 million consumer and small business relationships with approximately 5,300 retail banking offices and approximately 16,350 ATMs and award-winning online banking with 30 million active users and more than 13 million mobile users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Corporate Structure

Merrill Lynch & Co., Inc. is a wholly owned subsidiary of Bank of America Corporation.

Debt Profile

Prior to Merrill Lynch's acquisition by Bank of America, Merrill Lynch & Co., Inc. (ML & Co.) was the primary issuer of Merrill Lynch's debt instruments. Debt instruments were also issued by certain subsidiaries. ML & Co. is no longer a primary issuer of new unsecured borrowings under the Bank of America platform. Bank of America has not assumed or guaranteed the long-term debt that was issued or guaranteed by ML & Co. or its subsidiaries prior to the acquisition of Merrill Lynch by Bank of America.

Following the completion of Bank of America's acquisition of Merrill Lynch, ML & Co. became a subsidiary of Bank of America and established intercompany lending and borrowing arrangements to facilitate centralized liquidity management. Included in these arrangements is a $50 billion extendible one-year revolving line of credit that allows Bank of America to borrow funds from Merrill Lynch at a spread to LIBOR that is reset periodically and is consistent with other intercompany agreements. The line of credit matures on January 1, 2014 and will automatically be extended by one year to the succeeding January 1st unless Merrill Lynch provides written notice not to extend at least 45 days prior to the maturity date. There were no amounts outstanding at both March 31, 2013 and December 31, 2012 under this credit facility. There is also a short-term revolving credit facility that allows Bank of America to borrow up to an additional $25 billion. Interest on borrowings under the credit facility is based on prevailing short-term market rates. The line of credit matures on February 11, 2014. At March 31, 2013 and December 31, 2012, approximately $10.7 billion and $16.2 billion, respectively, was outstanding under this line of credit.

Brian T. Moynihan is the chief executive officer of Bank of America. He was elected to his role by the board of directors on December 16, 2009, and took office on January 1, 2010. Moynihan also is a member of the Bank of America board of directors. Moynihan has led Bank of America’s Global Diversity and Inclusion Council, a group of senior executives from across lines of business, since 2007. Moynihan joined Bank of America in 2004 following the company’s merger with FleetBoston Financial. In 2010, he was elected a trustee of the Corporation of Brown University.

Bank of America Corporate Center
100 North Tryon Street
Charlotte, NC 28255


Investor Relations:
Tel: 704-386-5681
Fax: 980-386-6699


Updated: 9/13/13

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Current Price
Bid Ask Day's Range
Option Chain for BAC
BAC News: Bank of America déclare un résultat net de 3,4 milliards USD, soit 0,27 USD par action diluée pour le premier trimestre... 08:32 PM
BAC News: The Best-Case Scenario for Bank of America's Stock 04/24/2015 01:07:01 PM
BAC News: The Biggest Mergers and Acquisitions in Banking 04/22/2015 01:11:02 PM
BAC News: How to Invest Money in Banks 04/22/2015 09:13:02 AM
BAC News: 3 REITs That Can Make Your Grandkids Rich 04/21/2015 01:10:03 PM
News News Alert: Bank of America déclare un résultat net de 3,4 milliards USD, soit 0,27 USD par action diluée pour le premier trimestre... 04/24/2015 08:32:00 PM
#18230   The confirmation of the Dow rise on Monday JJ8 04/23/15 10:09:08 PM
#18229   I'll definitely keep an eye here... It's hard TheWatcher51 04/23/15 06:29:20 PM
#18228   Watch right after the Shareholder meeting first week stocksnoway 04/23/15 06:25:03 PM
#18227   Yeah I got out today... No strength here... TheWatcher51 04/23/15 06:20:39 PM
#18226   We can be thankful some day these guys stocksnoway 04/23/15 06:16:17 PM
#18225   Gotta break that 50... It keeps getting lower TheWatcher51 04/23/15 01:51:30 PM
#18224   My guess... Somewhere between June and end of TheWatcher51 04/23/15 12:29:35 PM
#18223   When does the street factor in the profit stocksnoway 04/23/15 11:34:27 AM
#18222   I'm calling 15.70 support for the day... TheWatcher51 04/23/15 11:24:48 AM
#18221   This bad bad bank needs to move up Fletch 04/22/15 10:21:48 PM
#18220   Bammmm JCB5 04/22/15 09:59:39 PM
#18219   thcz hardknox1 04/22/15 03:51:20 PM
#18218   Show me conviction baby... Bac TheWatcher51 04/22/15 01:46:19 PM
#18217   Taking aim at 15.80... Break it and let's TheWatcher51 04/22/15 01:34:39 PM
#18216   Good day we're pulling up! JCB5 04/22/15 11:59:53 AM
#18215   Closed below the 20 day moving avg.... But TheWatcher51 04/21/15 04:12:38 PM
#18214   Looking uglier JCB5 04/21/15 02:30:14 PM
#18213   A total of 553 block trades were executed stocksnoway 04/20/15 08:40:23 PM
#18212   That's positive news, JCB5. JJ8 04/20/15 06:22:42 PM
#18211   Prepare for 15.40's if the Dow sneezes tomorrow. stocksnoway 04/20/15 04:37:54 PM
#18210   Dow up 240 JCB5 04/20/15 11:50:00 AM
#18209   Looking to see if this will stay above TheWatcher51 04/20/15 11:33:03 AM
#18208   Agree chart breaking down here... TheWatcher51 04/18/15 01:18:07 AM
#18207   Bullish signals reversed today in the larger market. JJ8 04/17/15 11:16:59 PM
#18206   May need to call IR on that one Monday. stocksnoway 04/17/15 05:11:04 PM
#18205   Bac bb has to be done over a moneymaker$ 04/17/15 04:23:40 PM
#18204   I know wonder if we have been setup stocksnoway 04/17/15 04:10:32 PM
#18203   Bought/Added(33%) at $15.56 JJ8 04/17/15 11:13:36 AM
#18202   Didn't I hear they were getting in the TheWatcher51 04/17/15 10:05:21 AM
#18201   Around May 15th or so once this markets stocksnoway 04/17/15 09:59:41 AM
#18200   When's the meeting? Aguren 04/17/15 09:47:18 AM
#18199   If she goes lower she trades at or stocksnoway 04/17/15 09:44:43 AM
#18198   Agree... However this has been beaten up and TheWatcher51 04/17/15 09:34:42 AM
#18197   Significant selling pre market :-( JCB5 04/17/15 08:10:10 AM
#18196   Already on board trunkmonk 04/17/15 12:43:51 AM
#18195   I could be wrong but Doesn't look like TheWatcher51 04/16/15 03:12:59 PM
#18194   15.93.... looking for a break above that... And TheWatcher51 04/16/15 02:28:51 PM
#18193   Post 50 ma .... I'm away from my JCB5 04/16/15 02:23:29 PM
#18192   Taking a run at the 50 ma... All TheWatcher51 04/16/15 01:51:43 PM
#18191   The larger market picture improved since my last JJ8 04/16/15 11:32:02 AM
#18190   Yes finally nice day trade and long position stocksnoway 04/16/15 11:30:19 AM
#18189   Looks like the Pony Express finally got the cdaniel394 04/16/15 11:10:05 AM
#18188   Yes and most trades went thru on sell side JCB5 04/15/15 05:16:07 PM
#18187   From Moynihan on the call stocksnoway 04/15/15 03:22:33 PM
#18186   You too! Wanka 04/15/15 10:08:02 AM
#18185   I am ready for it too. Long morning of stocksnoway 04/15/15 10:07:24 AM
#18184   Hoping a for at least 100 mill share Wanka 04/15/15 10:06:41 AM
#18183   Nice work. Looks like it's going higher. Finally Wanka 04/15/15 10:03:06 AM
#18182   Got my quota for the day trades still stocksnoway 04/15/15 10:01:14 AM
#18181   Well that's. True any gap up we tend Wanka 04/15/15 09:27:12 AM