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Bank of America Corp. (BAC)

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Last Post: 6/22/2017 12:39:11 PM - Followers: 406 - Board type: Free - Posts Today: 2



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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BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 06/21/2017 05:10:42 PM
BAC News: S&P 500 Buybacks Fall 17.5% Year-over-Year to $133.1 Billion for Q1 2017 06/21/2017 10:00:00 AM
BAC News: Free Writing Prospectus - Filing Under Securities Act Rules 163/433 (fwp) 06/20/2017 02:31:14 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 06/20/2017 02:17:03 PM
BAC News: Prospectus Filed Pursuant to Rule 424(b)(2) (424b2) 06/20/2017 12:25:09 PM
#20403   Quite correct! Equitiesduke 06/22/17 12:39:11 PM
#20402   This stock is big time for us. BOF pennystockaholic 06/22/17 07:59:46 AM
#20401   Everyone talking about it big time. It is Equitiesduke 06/21/17 09:44:27 AM
#20400   I agree we will see this summer. pennystockaholic 06/16/17 02:10:45 PM
#20399   Agreed. Possible repeal of Dodd-Frank ,however, some of Equitiesduke 06/15/17 02:19:50 PM
#20398   Financials as a whole will have another run HMONNY 06/14/17 01:15:28 PM
#20397   Ever since Obuma and Dodd-Frank this Stock has Equitiesduke 06/14/17 11:58:25 AM
#20396   FINALLY, some are at least seeing this! Equitiesduke 06/14/17 10:54:06 AM
#20395   Another crazy day 2 point spread 06/14/17 10:28:06 AM
#20394   This market is rigged...ONE BIG BUBBLE! HMONNY 06/14/17 09:36:45 AM
#20393   Quite possible, and certainly deserved. Equitiesduke 06/13/17 01:27:57 PM
#20392   Agree, it certainly should. Equitiesduke 06/13/17 01:22:43 PM
#20391   Fundamentals are all good. Equitiesduke 06/13/17 01:17:38 PM
#20390   It's been a 3+ month consolidation, call me HMONNY 06/12/17 03:30:58 PM
#20389   Well it is on a short run for Goodtimes93 06/12/17 10:56:11 AM
#20388   $25 by Friday... HMONNY 06/12/17 09:02:16 AM
#20387   I love the number in volume with minimal selling. pennystockaholic 06/10/17 03:37:57 PM
#20386   100% buying up today...Not even a dip to HMONNY 06/09/17 11:22:23 AM
#20385   Hard to see BAC staying at these levels HMONNY 06/08/17 09:33:38 PM
#20384   Why won't it last? With the anticipated hike HMONNY 06/08/17 07:31:51 PM
#20383   Sold at 2.28. Needed cash for sodium bicarbonate 2 point spread 06/08/17 10:12:13 AM
#20382   1.7% let's see if this carries on for pennystockaholic 06/07/17 04:39:37 PM
#20381   Incredible isn't it! Equitiesduke 06/07/17 11:00:27 AM
#20380   Yeah they want a almost 1:1 collateral which HMONNY 06/07/17 10:45:34 AM
#20379   Yes, lots of us in tech also. Equitiesduke 06/06/17 04:03:19 PM
#20378   I think it's because everyone's busy playing the HMONNY 06/06/17 02:09:44 PM
#20377   Hard to believe the poor performance of a Equitiesduke 06/06/17 11:42:37 AM
#20376   The force is with us man $$$$$$$$$$ pennystockaholic 06/04/17 12:30:35 PM
#20375   At least they are consistent. Goodtimes93 06/02/17 02:30:37 PM
#20374   See how some unseen force is keeping this HMONNY 06/02/17 02:28:17 PM
#20373   Looks like a whales trying to wipe out HMONNY 06/02/17 01:40:24 PM
#20370   I agree, does look quite strong right now HMONNY 06/02/17 12:09:51 PM
#20369   Yes, but let's see it hold above 22.50 Agent92260 06/02/17 12:05:48 PM
#20368   Already back to $22.45-.50, always a shake but HMONNY 06/02/17 12:03:24 PM
#20367   By the options. It's much more fun than 2 point spread 06/02/17 11:01:12 AM
#20366   Once support at 22.50 now looking like new Agent92260 06/01/17 11:39:55 AM
#20365   BAC looking good for long term investment my kermel 06/01/17 11:34:39 AM
#20364   Half back this am at 2.03 2 point spread 06/01/17 10:29:52 AM
#20363   I'm thinking Jan $25s right now...LOL HMONNY 06/01/17 05:39:48 AM
#20362   I'm better sense selling my call options. Funny 2 point spread 05/31/17 02:10:10 PM
#20361   lol you might have G.E.R.D lol pennystockaholic 05/31/17 10:48:36 AM
#20360   Sold at $2.48. Causing me heartburn. 2 point spread 05/23/17 12:07:20 PM
#20359   LOL,..22.50 support, there is a reason for that. Equitiesduke 05/23/17 07:56:51 AM
#20358   LOL, wrong ,..again. Equitiesduke 05/23/17 07:54:05 AM
#20357   Strength in numbers, but then we who partake Equitiesduke 05/23/17 07:49:39 AM
#20356   Yup I see that. pennystockaholic 05/22/17 02:50:19 PM
#20355   I never thought of that but it makes stocktrademan 05/22/17 12:57:25 PM
#20354   Yup, sounds like someone put too much of HMONNY 05/22/17 12:52:39 PM
#20353   Regarding your message stocktrademan 05/22/17 11:37:48 AM
#20352   Yes, way, way oversold("manipulated")!! Equitiesduke 05/22/17 11:05:59 AM