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Bank of America Corp. (BAC)

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Last Post: 7/16/2018 9:39:10 PM - 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

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BAC News: Bank of America déclare ses résultats financiers pour le deuxième trimestre 2018 07/16/2018 05:46:00 PM
BAC News: Bank of America veröffentlicht Finanzergebnisse für das zweite Quartal 2018 07/16/2018 05:35:00 PM
BAC News: Bank of America Reports Second-Quarter 2018 Financial Results 07/16/2018 06:45:00 AM
BAC News: Bank of America to Report Second-Quarter 2018 Financial Results on July 16 07/09/2018 11:00:00 AM
BAC News: Bank of America Declares Preferred Stock Dividends 07/05/2018 10:00:00 AM
News News Alert: Bank of America déclare ses résultats financiers pour le deuxième trimestre 2018 07/16/2018 05:46:00 PM
PlusOneCoin Top Posts
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#20882   Up almost 5% what a day indeed pennystockaholic 07/16/18 09:39:10 PM
#20881   Excellent day for BAC with more positive PPS mckinley1 07/16/18 06:12:07 PM
#20880   4.31% not bad day! Ezekeiel 07/16/18 04:03:38 PM
#20879   It is a good day to be in Ezekeiel 07/16/18 03:32:19 PM
#20878   4.10% and climbing toward $30.00, can it make it? Ezekeiel 07/16/18 02:05:58 PM
#20877   Heavy volume, moving up nicely. Go! 3.73% so far. Ezekeiel 07/16/18 01:26:15 PM
#20876   Lets make it $30.00 today! That would be Ezekeiel 07/16/18 10:31:48 AM
#20875   This I like! Ezekeiel 07/16/18 10:30:23 AM
#20874   Nice moves today Love $BAC kermel 07/16/18 10:22:31 AM
#20873   BAC looks real good premarket and hope to Ezekeiel 07/16/18 08:28:05 AM
#20871   BAC new target $36 that's I'm holding for! kermel 07/13/18 12:39:52 PM
#20870   LOL! Equitiesduke 07/13/18 10:45:53 AM
#20869   I thought it was undervalued and oversold but tyguy1505 07/13/18 10:08:56 AM
#20868   Why did you buy back in on 5/18/2018 Ezekeiel 07/13/18 09:22:21 AM
#20867   Financials selling off this morning. Not looking good. tyguy1505 07/13/18 08:22:57 AM
#20866   Hopefully the banks will respond positive to the Ezekeiel 07/13/18 06:50:07 AM
#20865   Number should be good. Can't wait pennystockaholic 07/12/18 03:47:47 PM
#20864   Looks good premarket! Earnings on Monday! Go BAC! Ezekeiel 07/12/18 08:50:33 AM
#20863   Nice close adtime 07/10/18 04:19:23 PM
#20862   Looking strong heading into earnings adtime 07/10/18 09:21:57 AM
#20861   Good day for BAC, lets see if it Ezekeiel 07/09/18 04:14:44 PM
#20860   Back of America (Monday July 2nd) : nowwhat2 07/09/18 03:04:11 PM
#20859   BAC is on a good run today, up Ezekeiel 07/09/18 01:54:32 PM
#20858   BAC is on a good run, up 2.52% Ezekeiel 07/09/18 10:40:35 AM
#20857   BAC is off to a good start this Ezekeiel 07/09/18 09:38:06 AM
#20856   Looking for a good week from BAC as Ezekeiel 07/08/18 10:27:00 AM
#20855   Hope we have a great Friday! Go BAC! Ezekeiel 07/06/18 08:39:22 AM
#20854   Lately pretty much every day is painful. Why Ezekeiel 07/05/18 04:22:37 PM
#20853   BAC is getting ready to take off, hold Ezekeiel 07/05/18 12:49:59 PM
#20852   If it doesn't finish the day above $28, Agent92260 07/05/18 12:49:11 PM
#20851   Go BAC! We can sure use it. Ezekeiel 07/05/18 11:52:35 AM
#20850   I trade this one regularly with Turbo binary New Doctor 07/04/18 02:37:13 PM
#20849   It has stalled much longer then expected, but HMONNY 07/03/18 06:54:05 PM
#20848   P.S. MU, Micron Tech is just that. A tech Equitiesduke 07/03/18 02:58:27 PM
#20847   Agree BAC is a big disappointment as are Equitiesduke 07/03/18 02:50:31 PM
#20846   I thought maybe just based on the fundamentals tyguy1505 07/03/18 12:40:35 PM
#20845   Very frustrating to see this Stock under perform Equitiesduke 07/03/18 11:37:47 AM
#20844   I agree ahead of 4th July pennystockaholic 07/02/18 08:35:28 AM
#20843   BAC can sure use a good week. Ezekeiel 07/02/18 03:56:52 AM
#20842   Will be a good week coming up pennystockaholic 07/01/18 10:08:29 PM
#20841   Agree to some extent, but keep in mind Equitiesduke 07/01/18 03:55:52 PM
#20840   The reason I didn't sell on Friday was tyguy1505 07/01/18 11:03:56 AM
#20839   tyguy1505, I was thinking of buying more shares. JJ8 06/29/18 05:25:10 PM
#20838   I'm done with this shitty stock. Have fun tyguy1505 06/29/18 12:53:21 PM
#20837   29.17 premarket and now about to roll over. tyguy1505 06/29/18 12:43:18 PM
#20836   BAC looking good premarket, may it keep going Ezekeiel 06/29/18 08:43:02 AM
#20835   In early premarket trading BAC is at $29.05 Ezekeiel 06/29/18 05:52:53 AM
#20834   Agreed. Much DD done with BAC over the Equitiesduke 06/27/18 12:19:21 PM
#20833   I agree 100% that's why I said long pennystockaholic 06/26/18 12:54:51 PM
#20832   Thank you sir you as well pennystockaholic 06/26/18 12:52:38 PM