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Bank of America Corp. (BAC)

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Last Post: 2/19/2018 8:42:31 PM - Followers: 411 - 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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#20634   Could not agree more. Financials should benefit MidWestDustin 02/19/18 08:42:31 PM
#20633   Yes it will be nice set up for retirement pennystockaholic 02/15/18 10:42:20 PM
#20632   That's I'm waiting for kermel 02/15/18 11:53:17 AM
#20631   Dividend paying stocks will be the safe havens Spicknspan 02/14/18 10:19:59 PM
#20630   Way before that brother pennystockaholic 02/14/18 09:59:42 PM
#20629   BAC Bank Of America 32.00 +2.61% 83,989,842 keeps on climbing $treet $inatra 02/14/18 04:12:09 PM
#20628   I think $40 by the end of this kermel 02/12/18 05:20:08 PM
#20627   Juxtaposition Of Reality, Fraud, & A Great Big camaro4me 02/12/18 10:16:47 AM
#20626   That would be ideal. Long term share holder pennystockaholic 02/12/18 07:56:39 AM
#20625   Who drew those lines your kid LOL restripe 02/11/18 07:08:20 PM
#20624   could go down to about $25 before going $treet $inatra 02/11/18 06:11:50 PM
#20623   Short this pos Guy at bank is stupid wolfboy 02/09/18 03:17:41 PM
#20622   Smart man! will see $40 soon. kermel 02/08/18 05:26:13 PM
#20621   29$ I’m back in clearsudden 02/08/18 01:17:11 PM
#20620   Shorts grabbing positions pre maker weee altruism 02/01/18 09:14:27 AM
#20619   BAC+B - BAC/WS/B CLASS "B" WARRANTS BrentwoodKen 01/28/18 08:11:56 AM
#20618   10 to 15 % correction beginning tomorrow... altruism 01/25/18 08:19:48 PM
#20617   Given the last Q performance, what Brian M. Equitiesduke 01/22/18 12:17:36 PM
#20616   Me too holding for $40 kermel 01/22/18 10:42:16 AM
#20615   I'm in for 40's 52172 01/21/18 10:38:32 PM
#20614   Triple bagger here!! ??? When to sell want-abee 01/20/18 02:38:28 PM
#20613   Price target $35 from $30 kermel 01/18/18 10:54:14 AM
#20612   im out sold at 31 to 30.75 stop clearsudden 01/17/18 10:11:47 AM
#20611   Go BAC Go. Zues 01/12/18 03:55:56 PM
#20610   Bac 31$ I’m up like 40% lol clearsudden 01/12/18 01:55:43 PM
#20609   Yea look great! kermel 01/10/18 02:37:23 PM
#20608   Bac$$$ Beast Mode today! clearsudden 01/10/18 12:59:32 PM
#20607   I agreed 2018 will be a big run kermel 01/08/18 10:27:01 AM
#20606   I'm loving the price action, been here for pennystockaholic 01/07/18 11:02:19 PM
#20605   $32 by the end of this month! kermel 01/05/18 05:05:36 PM
#20604   I would be happy at $32! MidWestDustin 01/05/18 03:13:26 PM
#20603   Great, next target $34 I know it might kermel 01/04/18 10:24:34 AM
#20602   The gate has been breached! Glta! clearsudden 01/04/18 10:01:30 AM
#20601   Calling for $45 by Christmas if the Fed HMONNY 01/03/18 11:35:47 PM
#20600   Hope to see $30 by tomorrow! kermel 01/02/18 01:25:21 PM
#20599   $35 by the end Jan. 2018 kermel 12/28/17 12:37:50 PM
#20598   So hard to break that 30 level but running bull 12/28/17 07:32:46 AM
#20597   30$+ today! Go bac! clearsudden 12/22/17 09:52:43 AM
#20596   Bac beast mode let’s do this 30$+ clearsudden 12/21/17 10:37:33 AM
#20595   There’s resistance at that level. Hopefully it’ll break YazM 12/18/17 12:15:58 PM
#20594   It just does not want to breakthrough $30! MidWestDustin 12/18/17 10:43:30 AM
#20593   I covered my short position yesterday afternoon. I’m YazM 12/15/17 09:44:22 AM
#20592   Prenarket up clearsudden 12/15/17 09:26:12 AM
#20591   Thanks, I know :( I wish I had YazM 12/14/17 02:40:09 PM
#20590   Congratulations! If you waited though you could girlfriend 12/14/17 02:30:26 PM
#20589   :) YazM 12/14/17 02:20:33 PM
#20588   What a nice decline, cashing out! Thanks again YazM 12/14/17 12:33:02 PM
#20587   I have the $30 calls as well and MidWestDustin 12/14/17 10:20:05 AM
#20586   Not worried :) YazM 12/14/17 07:47:41 AM
#20585   BAC up almost 1% pre market girlfriend 12/14/17 07:13:54 AM