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Bank of America Corp. (BAC)

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Last Post: 5/18/2019 1:47:51 AM - Followers: 419 - 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

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BAC News: Bank of America Raises Minimum Hourly Wage to $17 05/15/2019 09:00:00 AM
BAC News: 26 Graduate Student Teams Compete in First-of-Its-Kind Impact Investing Challenge 05/02/2019 08:30:00 AM
BAC News: Small Business Outlook Remains Strong 04/30/2019 09:00:00 AM
BAC News: Bank of America Declares Quarterly Stock Dividends 04/24/2019 04:15:00 PM
BAC News: Bank of America Announces Preliminary Voting Results From 2019 Annual Meeting of Stockholders 04/24/2019 10:53:00 AM
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#21187  Sticky Note https://www.google.com/amp/s/seekingalpha.com/amp/article/4250658-bank-america-i Destroyer67 03/23/19 11:56:05 PM
#21316   I may load soon Destroyer67 05/18/19 01:47:50 AM
#21315   Still holding average down to 28 tried picking restripe 05/17/19 06:19:15 PM
#21314   How did you fair. Banks have had this Destroyer67 05/17/19 02:56:39 PM
#21312   Might sell if we break New high of restripe 05/14/19 01:17:13 PM
#21311   Got some at .34 restripe 05/13/19 03:09:27 PM
#21310   Got my eye on June 7, 2950 calls restripe 05/13/19 02:49:33 PM
#21309   31 wont be seen again before fall if then. Bryan2000 05/13/19 01:05:44 PM
#21308   hilarious- botz have no respect for chart technicals la_trader 05/13/19 01:04:19 PM
#21306   Caught a early put / call carousel. Bryan2000 05/09/19 11:14:19 AM
#21305   BAC is benefiting from WFC problems Spicknspan 05/08/19 06:41:38 PM
#21304   Just come down a little more and I restripe 05/07/19 05:13:13 PM
#21303   Me like robots restripe 05/07/19 05:08:42 PM
#21302   big market algos going haywire today. dump dump la_trader 05/07/19 02:44:22 PM
#21301   J/k just sold a solid call. Bryan2000 05/06/19 10:43:09 AM
#21300   Only puts BAC doesnt pay calls lol Bryan2000 05/06/19 09:51:15 AM
#21299   My puts are going to look good this week restripe 05/06/19 09:22:11 AM
#21298   $BAC -should keep pushing north. la_trader 05/03/19 09:40:57 AM
#21297   Just sold a great put. Lets go up now. Bryan2000 04/30/19 11:12:47 AM
#21296   Come on down to Papa restripe 04/30/19 10:52:23 AM
#21295   What do you think 20 to 30 Cent restripe 04/29/19 04:04:00 PM
#21294   By mid summer, yes. This week...well....only if the la_trader 04/29/19 03:52:45 PM
#21293   Lol restripe 04/29/19 03:47:23 PM
#21292   BAC going much higher. Can see PPS around mckinley1 04/29/19 03:40:50 PM
#21291   Working our way back to 52 week high Zues 04/29/19 12:45:40 PM
#21290   What was I thinking restripe 04/29/19 11:12:18 AM
#21289   $BAC $31 hit -pushing higher la_trader 04/29/19 10:05:21 AM
#21288   Banks look appealing once again. Good momentum. TopMarketGainers 04/28/19 03:59:04 PM
#21287   check the upside call buying interest before buying la_trader 04/26/19 05:25:27 PM
#21286   Picked up May 24 29 puts hoping for restripe 04/26/19 05:15:59 PM
#21285   will move up towards the June ex-div date. la_trader 04/26/19 03:10:50 AM
#21284   I hope it moves up tomorrow might buy restripe 04/25/19 10:37:07 PM
#21283   Eventually the botzz will take the rangebound chains la_trader 04/25/19 10:20:21 AM
#21282   Agree Zues 04/24/19 12:10:29 PM
#21281   BAC looking $30 new support level. should keep la_trader 04/22/19 10:34:26 AM
#21280   trading algos wont let it for now. they la_trader 04/18/19 09:50:44 AM
#21279   Needs to just break through the resistance at avtges 04/18/19 09:39:26 AM
#21278   Blue HorseBot loves $BAC ;-) la_trader 04/17/19 03:13:09 PM
#21276   yesterday. la_trader 04/17/19 03:11:51 PM
#21275   When's the fins? Kid-Gloves 04/17/19 09:00:50 AM
#21274   $BAC -algobot boogaloo. ;-) la_trader 04/16/19 02:23:00 PM
#21273   We didn’t get the memo That it was clearsudden 04/16/19 02:07:03 PM
#21272   Not many bargains in the market right now Destroyer67 04/16/19 02:00:34 PM
#21271   Hilarious robot tank. BAC is already undervalued and la_trader 04/16/19 12:13:06 PM
#21270   IMO thats why the drive up was before Bryan2000 04/16/19 11:59:54 AM
#21269   Nobody told me we were going to sell Cody6 04/16/19 11:14:49 AM
#21268   I guess the Q wasn’t good enough although Cody6 04/16/19 11:13:31 AM
#21267   Bank of Botz conf. Call 830a.m. east. earnings Bryan2000 04/16/19 07:05:29 AM
#21266   Should be a nice day today eyeofstorm 04/16/19 07:03:36 AM
#21265   More like "thank you BAC BOTZ" lol la_trader 04/15/19 09:18:25 PM
#21264   Thank you BAC Bryan2000 04/15/19 02:08:26 PM
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