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Bank of America Corp. (BAC)

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Last Post: 1/28/2015 11:31:22 PM - Followers: 379 - 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: BofA Merrill Wins Eight Global and Regional Industry Awards for Transaction Banking Innovation and Excellence 01/28/2015 10:14:00 AM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 01/28/2015 06:01:53 AM
BAC News: Current Report Filing (8-k) 01/27/2015 04:03:31 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 01/27/2015 03:05:02 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 01/26/2015 05:20:45 PM
#17904   Today the update of the LMP Indicator is JJ8 01/28/15 11:31:21 PM
#17903   Added more at $15.28 GLTA JJ8 01/28/15 03:32:11 PM
#17902   Np. Fed didn't help today either. Bad news now. Wanka 01/28/15 02:23:22 PM
#17901   Thanks bud moneymaker$ 01/28/15 02:22:44 PM
#17900   What I really dislike is a down day JCB5 01/28/15 01:45:32 PM
#17899   It'll run eventually. A lot of analyst Wanka 01/28/15 01:36:46 PM
#17898   thanks for ur reply wanka, I'm in deep moneymaker$ 01/28/15 01:21:29 PM
#17897   They should do it. I rode this bitch Wanka 01/28/15 01:19:14 PM
#17896   this has been a nightmare. some ppl are moneymaker$ 01/28/15 01:16:53 PM
#17895   Yes and maybe. Uncle Sam destroying big banks. Wanka 01/28/15 01:12:08 PM
#17894   Do you think they will ask for a moneymaker$ 01/28/15 11:37:39 AM
#17893   You'll be OK ..... Just wait this out JCB5 01/28/15 09:36:23 AM
#17892   I'm in at an average of $17.56, I'm moneymaker$ 01/28/15 09:24:40 AM
#17891   Lets hope the Feds don't crush BAC if stocksnoway 01/27/15 12:47:22 PM
#17890   Down from 18.21...... JCB5 01/27/15 12:14:32 PM
#17889   Don't say crash!! Lol moneymaker$ 01/27/15 10:06:52 AM
#17888   Yes another crash and burn.......looking at the dow JCB5 01/27/15 09:41:04 AM
#17887   Added at $15.52 GLTA JJ8 01/27/15 09:40:21 AM
#17886   To go down faisal s 01/27/15 09:08:18 AM
#17885   Buckle your seatbelt today JCB5 01/27/15 09:06:25 AM
#17884   Many good points! Thanks for research JCB5 01/27/15 07:36:35 AM
#17883   Funny how this negative press never talks about Greenspan? stocksnoway 01/26/15 08:40:26 PM
#17882   I know!!!!!!!! faisal s 01/26/15 03:40:14 PM
#17881   Bac JCB5 01/26/15 03:28:21 PM
#17880   What is up faisal s 01/26/15 12:31:57 PM
#17879   Some day in the coming months this will trunkmonk 01/25/15 09:05:50 PM
#17878   Few things to note in connection with B JJ8 01/25/15 04:01:06 PM
#17877   CEO Brian Thomas Moynihan, has been on point ShortPutCall 01/25/15 02:07:50 PM
#17876   The positive ceo says Q1 is BAC best always. stocksnoway 01/25/15 01:57:38 PM
#17875   How long do you think till it hits ShortPutCall 01/25/15 11:40:07 AM
#17874   Ya. We've been here a long ass time. Wanka 01/24/15 02:06:17 AM
#17873   No..... We will see JCB5 01/23/15 05:44:14 PM
#17872   Unstable JCB5 01/23/15 04:13:52 PM
#17871   In again at $15.77 GLTA JJ8 01/23/15 03:54:26 PM
#17870   Do u think it's just today ? moneymaker$ 01/23/15 12:53:39 PM
#17869   Did you expect continues upward movement after one Tincupx 01/23/15 12:51:19 PM
#17868   Showing bad indicators today for sure JCB5 01/23/15 11:35:24 AM
#17867   Thanks for ur insight jj8 moneymaker$ 01/22/15 06:22:03 PM
#17866   Awesome. I appreciate the info. Thanks much. Wanka 01/22/15 06:14:24 PM
#17865   What I'm looking for is whether the JJ8 01/22/15 06:07:47 PM
#17864   Awesome. Can you provide a little more detail Wanka 01/22/15 04:59:07 PM
#17863   Thank you BAC just love the color of GREEN running bull 01/22/15 04:50:48 PM
#17862   Well, I'll just saw the chart is to budgetthis 01/22/15 03:08:50 PM
#17861   Nice bounce, strange no one here ever post Sone 01/22/15 02:26:21 PM
#17860   Sold at $15.81 for about 3% profits. These JJ8 01/22/15 01:10:26 PM
#17859   Feel free to chat here. I do not JJ8 01/21/15 11:26:25 PM
#17858   Ah gotcha. I've seen you mention it before Wanka 01/21/15 10:38:25 PM
#17857   That's what I assumed...... JCB5 01/21/15 10:04:20 PM
#17856   Yes, it is. JJ8 01/21/15 09:37:21 PM
#17855   Is this something you came up with? Wanka 01/21/15 09:25:05 PM