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Bank of America Corp. (BAC)

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Last Post: 4/19/2018 11:32:05 AM - Followers: 415 - 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

Current Price
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PlusOneCoin Top Posts
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#20713   After being down to $29.45 pre-market, BAC is Ezekeiel 04/19/18 11:32:05 AM
#20712   Thank You for reminding. I think I will get_it_back 04/18/18 10:17:29 PM
#20711   Manipulation at BAC big time. Equitiesduke 04/18/18 12:06:59 PM
#20710   Financials are taking a beating. Trueheart 04/18/18 11:46:23 AM
#20709   The market can do anything. I try to JJ8 04/18/18 11:24:11 AM
#20708   Do you think we test below 29 again ?? tyguy1505 04/17/18 05:35:48 PM
#20707   About 52 million (plus) shares volume traded already JJ8 04/17/18 03:27:01 PM
#20706   Nobody is excited about these financials it seems tyguy1505 04/17/18 02:22:49 PM
#20705   Someone bought 1.2m shares (0.o) Dmwcrash 04/17/18 11:49:06 AM
#20704   Hearing less and less about trade wars with tyguy1505 04/17/18 06:46:30 AM
#20703   They all line up. I have been trying Dmwcrash 04/16/18 03:16:16 PM
#20702   I hope you got some BAC+B it is roxandbonz 04/16/18 03:12:42 PM
#20701   Only good vibes here ???? Dmwcrash 04/16/18 02:46:17 PM
#20700   You are correct. And right now the warrants roxandbonz 04/16/18 02:34:27 PM
#20699   Dmwcrash, I wish good luck to us, lol. JJ8 04/16/18 02:18:43 PM
#20698   Trueheart, it's questionable at this time. If it JJ8 04/16/18 02:16:17 PM
#20697   That was a great buy, IMO. Trueheart 04/16/18 01:35:19 PM
#20696   Got options on the dip Dmwcrash 04/16/18 12:49:58 PM
#20695   Bought at $29.48 JJ8 04/16/18 11:47:09 AM
#20694   I don't know if today's drop was a Trueheart 04/13/18 04:41:49 PM
#20693   We are in good shape here heading into tyguy1505 04/13/18 03:43:22 PM
#20692   Kotowski at Oppenheimer on NBC just endorsed BAC Trueheart 04/13/18 11:36:12 AM
#20691   Dip and rip $bac tyguy1505 04/13/18 11:06:37 AM
#20690   Bought the dip tyguy1505 04/13/18 10:12:21 AM
#20689   BAC is very strong and expanding revenue growth. mckinley1 04/13/18 07:52:30 AM
#20688   Several analysts and commentators punched up Bank of Trueheart 04/12/18 11:45:29 PM
#20687   Each warrant B enables you to buy 1 get_it_back 04/12/18 10:36:27 PM
#20686   Another good day for BAC. More to come. mckinley1 04/12/18 07:30:54 PM
#20685   Put BAC+B on your screen and watch it explode!! roxandbonz 04/12/18 11:22:26 AM
#20684   26 test this month would be just what WovenO2 04/11/18 04:05:38 PM
#20683   BAC continuing its Upward Breakout. Nice! mckinley1 04/10/18 06:50:27 AM
#20682   Love this stock $$BAC, knew Friday was just tyguy1505 04/09/18 10:52:57 AM
#20681   BAC way undervalued at this level. Look for mckinley1 04/07/18 03:42:57 PM
#20680   Good day for BAC. mckinley1 04/05/18 05:21:59 PM
#20679   BAC+B now selling for $2.29. If bac stock roxandbonz 04/05/18 12:33:02 PM
#20678   BAC+B are Bank of America Warrents that trade roxandbonz 04/05/18 10:36:15 AM
#20677   If you think BAC is good or on roxandbonz 04/05/18 09:43:20 AM
#20676   BAC decent gain in PPS today. More to come! mckinley1 04/04/18 04:54:56 PM
#20675   Yes I keep buying BAC on a regular mckinley1 04/04/18 03:39:33 PM
#20674   In my opinion BAC is a worth investment Trueheart 04/04/18 10:13:01 AM
#20673   BAC very solid compared to other investments. BAC mckinley1 04/02/18 12:01:51 PM
#20672   Agreed! BAC does have a PR problem as a Equitiesduke 03/29/18 02:53:50 PM
#20671   BAC will probably not increase the dividend with Spicknspan 03/29/18 10:44:12 AM
#20670   We all want to see BAC at least Equitiesduke 03/27/18 08:00:13 AM
#20669   BAC $30.53 after hour Ezekeiel 03/26/18 06:13:11 PM
#20668   Roger that, Ezekeiel. Trueheart 03/26/18 04:11:07 PM
#20667   It is running nicely now. Hope to see Ezekeiel 03/26/18 03:08:19 PM
#20666   Nice to see the share price back over Trueheart 03/26/18 12:34:30 PM
#20665   BAC looking very good premarket. Ezekeiel 03/26/18 08:51:09 AM
#20664   Buy BAC. Zues 03/26/18 08:17:24 AM