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Bank of America Corp. (BAC)

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Last Post: 9/19/2018 6:28:05 AM - Followers: 415 - Board type: Free - Posts Today: 1



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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BAC News: Bank of America Declares Preferred Stock Dividends 09/18/2018 09:00:00 AM
BAC News: Merrill Edge Hits $200 Billion in Assets Under Management 09/11/2018 09:00:00 AM
BAC News: Mastercard & Bank of America Support Small Business Growth with Launch of Second Annual “Grow Your Biz Contest” 09/05/2018 10:32:00 AM
BAC News: Women Entrepreneurs Are Leading the Digital Transformation, According to Bank of America Study 08/28/2018 09:00:00 AM
BAC News: Bank of America Announces Dividend Correction on Floating Rate Non-Cumulative Preferred Stock, Series 1 08/07/2018 05:48:00 PM
PlusOneCoin Top Posts
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#21016   Hopefully before my warrants expire. jimtash 09/19/18 06:28:05 AM
#21015   I have this feeling it'll eventually channel up HMONNY 09/18/18 08:51:40 PM
#21014   Do we see a channel up anytime soon? HMONNY 09/18/18 08:50:55 PM
#21013   Correction: A typo advised share price was about 1.5 Equitiesduke 09/16/18 11:45:00 AM
#21012   P.S. to previous. Equitiesduke 09/14/18 11:45:40 AM
#21011   Really pathetic that this "manipulation" is ALLOWED! Equitiesduke 09/14/18 11:40:29 AM
#21010   Yep. Warrants expire next month. Manipulation is a given. jimtash 09/13/18 07:15:08 PM
#21009   This stock should have hit $40 already. It’s Spumoni 09/13/18 11:46:42 AM
#21008   I bought in 2 years ago at $12.50, Ezekeiel 09/13/18 10:36:44 AM
#21007   FYI: Have owned and held BAC for over 25 Equitiesduke 09/12/18 03:10:03 PM
#21006   It was only a few years ago I Edmond 09/12/18 02:41:52 PM
#21005   end game of the petrodollar has started. WW3 mm41 09/12/18 02:05:56 PM
#21004   This "dog of Wall St" is quite possibly Equitiesduke 09/12/18 01:19:00 PM
#21003   BAC needs to break $31.00 and stay over Ezekeiel 09/12/18 06:52:32 AM
#21002   This Stock IS totally and completely under the Equitiesduke 09/11/18 11:02:08 AM
#21001   $31.00 plus and not turn around and fall Ezekeiel 09/10/18 08:47:22 AM
#21000   Hoping to see 31 plus this week tiger1966 09/09/18 09:02:56 PM
#20999   Lets not ever see the 30's no more. Ezekeiel 09/04/18 12:55:08 PM
#20998   Would love to see a good week from BAC! Ezekeiel 09/04/18 10:52:02 AM
#20997   Lol to funny pennystockaholic 08/30/18 09:06:18 PM
#20996   Beginning to think your are right in this Equitiesduke 08/30/18 04:18:14 PM
#20995   Sell and take the Bank's money! Lowjack 08/30/18 11:34:03 AM
#20994   Be advised the 31 "analysts" have a projected Equitiesduke 08/30/18 09:03:47 AM
#20993   Thats's really good $BAC pennystockaholic 08/28/18 03:20:55 PM
#20992   I own the warrants. Have a little over jimtash 08/27/18 08:31:29 PM
#20991   Should close above the $31.50 mark tomorrow. Possible jimtash 08/27/18 08:28:37 PM
#20990   Looking good coming up on Noon time, afternoon Ezekeiel 08/27/18 11:38:19 AM
#20989   I agree we will see a huge spike pennystockaholic 08/27/18 09:06:27 AM
#20988   Hoping for positive news to get this stock Ezekeiel 08/27/18 07:25:47 AM
#20987   We need to break $31.00 and stay above Ezekeiel 08/27/18 07:24:07 AM
#20986   NAFTA talks between US and Mexico news possible jimtash 08/27/18 06:02:19 AM
#20983   Yes we will get there. Looking really good pennystockaholic 08/26/18 01:00:08 PM
#20982   Not much volume today! Ezekeiel 08/24/18 03:59:34 PM
#20981   Just my opinion, I see BAC knocking on Ezekeiel 08/24/18 09:47:04 AM
#20980   What's the ceiling here ? $BAC looking like pennystockaholic 08/23/18 08:36:29 PM
#20978   Looking for a good week from BAC this Ezekeiel 08/12/18 03:26:12 PM
#20977 JJ8 08/10/18 03:15:39 PM
#20976   Roses are red, Ezekeiel 08/08/18 07:02:59 PM
#20975   What will BAC do next week? I have Ezekeiel 08/08/18 06:55:16 PM
#20974   I have 3 more post for today. Lets Ezekeiel 08/08/18 06:53:34 PM
#20973   I just want to post something. Something! LOL... Ezekeiel 08/08/18 06:52:08 PM
#20972   Nice finish! More to come! IMO Ezekeiel 08/08/18 05:46:55 PM
#20971   It looks like we will be green at Ezekeiel 08/08/18 03:56:03 PM
#20970   Here we go BAC, here we go! Ezekeiel 08/08/18 03:46:45 PM
#20969   If the market was reaL good I believe Ezekeiel 08/08/18 03:26:17 PM
#20968   $32.00 today? Ezekeiel 08/08/18 02:56:52 PM
#20967   Go! Go! Go! Lets make money! Ezekeiel 08/08/18 02:55:36 PM
#20966   Financials looking good today. $32.00 looking good for Ezekeiel 08/08/18 02:25:34 PM
#20965   Maybe today BAC will hold the gains it Ezekeiel 08/08/18 02:21:34 PM
#20964   Love BAC money maker!! kermel 08/08/18 10:07:51 AM