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Bank of America Corp. (BAC)

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Last Post: 3/26/2020 10:25:53 AM - Followers: 431 - Board type: Free - Posts Today: 0

 

Website: https://www.bankofamerica.com/


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.
Website: www.ml.com/US

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.
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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.

Headquarters:
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

BAC
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BAC News: S&P 500 buybacks up 3.2% in Q4 2019; Full Year 2019 down 9.6% from record 2018, as companies brace for a more volatile 2020 03/24/2020 08:15:00 AM
BAC News: Bank of America Community Development Banking Provided a Record $4.88 Billion in Lending and Investing in 2019 02/20/2020 09:00:00 AM
BAC News: Bank of America Awards $750,000 to Advance Hemisfair Redevelopment 02/12/2020 02:52:00 PM
BAC News: Bank of America Introduces Financial Life Benefits, Delivering the Industry’s Most Comprehensive Set of Solutions & Guidanc... 02/12/2020 09:00:00 AM
BAC News: Bank of America Bus. Advantage 360 Gives Small Businesses the Ability to View Data From Third-Party Bus. Applications in Awar... 02/06/2020 09:00:00 AM
PostSubject
#21748   Sounds good! YJ4LIFE 03/26/20 10:25:53 AM
#21747   YJ The way to make monies with t1215s 03/26/20 08:10:46 AM
#21746   BAC is on the move. $25 is possible YJ4LIFE 03/25/20 01:48:10 PM
#21743   You got that right! just more nwo type BDEZ 03/21/20 11:09:51 PM
#21742   PRESIDENT TRUMP I AUTHORIZE YOU TO CLOSE THE STOCKMONSTER 03/21/20 04:13:59 PM
#21741   WE NEED TO PUT OUR BOOTS TO NECKS STOCKMONSTER 03/21/20 04:12:39 PM
#21740   Not "steel", but tin. GLTY JJ8 03/20/20 03:18:43 PM
#21739   Below $20 looks like a steel IPO$ 03/18/20 01:30:03 PM
#21738   Some branches have no cash! Lowjack 03/18/20 08:45:45 AM
#21737   I agree, while many top brass have stepped Saving Grace 03/13/20 05:47:17 PM
#21736   Nochmal was wichtiges 19:17#941 mm41 03/13/20 02:21:28 PM
#21735   some big banks will be affected while others la_trader 03/13/20 10:18:21 AM
#21734   still on sideline- chart has not signaled its la_trader 03/12/20 11:37:12 AM
#21733   Shorters dream! Banks in big trouble. Recovery Questionable! Saving Grace 03/11/20 01:56:10 AM
#21732   Trump meeting with big bankers tomorrow restripe 03/10/20 10:02:59 PM
#21731   I really hope you're joking. I mean I Instrumentalist 03/10/20 07:55:56 PM
#21730   22-23 good entry IMO. loaded some @22+. la_trader 03/10/20 09:49:26 AM
#21729   With the current connections to Freaky ty 03/09/20 03:20:13 PM
#21728   18 restripe 03/09/20 11:19:15 AM
#21727   How low do you think?? I’m looking for Freaky ty 03/09/20 11:04:09 AM
#21726   Will drop further this week...have your dry powder la_trader 03/09/20 03:30:57 AM
#21725   Bottom $25 and backup $35 next month! kermel 03/05/20 06:07:32 PM
#21724   lovin these gift prices. ;-) la_trader 02/28/20 07:05:38 PM
#21723   I will reentry @ $25 kermel 02/28/20 11:56:33 AM
#21722   Yeah overreaction to say the least la_trader. Consumer Zues 02/26/20 06:37:55 PM
#21721   BAC will be back up $35 next month! kermel 02/26/20 03:32:05 PM
#21720   BAC Bought back in at 31.25$ - cyclone101 02/26/20 11:21:34 AM
#21719   nice load/add point after dumbshet algo sell-a-thon la_trader 02/26/20 09:52:08 AM
#21718   RE: BAC - 30's would be a great cyclone101 02/25/20 02:37:14 PM
#21717   Got out yesterday with a nice profit. I clearsudden 02/25/20 02:32:39 PM
#21716   THERES our $31's BAC - now we are cyclone101 02/25/20 02:31:31 PM
#21715   BAC I'm hoping to see 31.5$ ---- this cyclone101 02/25/20 11:12:11 AM
#21714   What’s the bottom In your opinion clearsudden 02/25/20 11:07:27 AM
#21713   BAC - Everything is taking a beating today. cyclone101 02/24/20 01:42:50 PM
#21712   It’s taking a hit today clearsudden 02/24/20 08:45:35 AM
#21711   BAC in the news for 43+ Blockchain patents StocksnCrypto 02/24/20 12:00:35 AM
#21710   Haha. You care bro. You follow flyonthewall 02/15/20 11:32:11 PM
#21709   I see no one cares about the bullchit pepeoil 02/14/20 05:58:19 AM
#21708   I'll have to keep my eye on that. Zues 02/06/20 03:53:12 PM
#21707   i would hope before the elections. needs to la_trader 02/06/20 03:33:23 PM
#21706   When do you think that will happen? Zues 02/06/20 11:45:27 AM
#21705   don't forget coming MJ banking boom. once it's la_trader 02/06/20 10:11:05 AM
#21704   "WASHINGTON — Banks could invest heavily in or Zues 02/06/20 06:56:34 AM
#21703   A takeover bid for german company K+S coming soon!!!!! mm41 01/29/20 06:02:12 AM
#21702   Support $32 level, will reverse and climb. la_trader 01/27/20 10:02:38 AM
#21701   Very reasonable BAC can meet the $50 target mckinley1 01/16/20 09:10:10 PM
#21700   $50 is my year end 2020 target la_trader 01/16/20 09:00:01 PM
#21699   Yes BAC will hit $40 by EOM and mckinley1 01/16/20 04:50:11 PM
#21698   40 will be here shortly imo Kid-Gloves 01/14/20 08:55:33 PM
#21697   I agree Kid-Gloves 01/14/20 08:55:07 PM
PostSubject