Bank of America

Bank Of America

Coordinates: 35°13′36.41″N 80°50′33.57″E / 35.2267806°N 80.8426583°E / 35.2267806; 80.8426583

Bank of America Corporation
Type Public
Traded as NYSE: BAC
TYO: 8648
Dow Jones Component
S&P 500 Component
Industry Banking, Financial services
Predecessor(s) Bank America
Founded 1998 (1904 as Bank of Italy) (1998 (1904 as Bank of Italy))
Headquarters Bank of America Corporate Center
100 North Tryon Street
Charlotte, North Carolina, U.S.
Area served Worldwide
Key people Charles O. Holliday
Brian T. Moynihan
(President & CEO)
Products Credit cards, consumer banking, corporate banking, finance and insurance, investment banking, mortgage loans, private banking, private equity, wealth management
Revenue US$ 115.07 billion (2011)
Operating income US$ 0-230 million (2011)
Net income US$ 01.446 billion (2011)
Total assets US$ 02.129 trillion (2011)
Total equity US$ 230.10 billion (2011)
Employees 272,600 (2011)
Divisions Bank of America Home Loans, Bank of America Merrill Lynch
Subsidiaries Merrill Lynch, U.S. Trust Corporation

Bank of America Corporation (NYSE: BAC) is an American multinational banking and financial services corporation headquartered in Charlotte, North Carolina. It is the second-largest bank holding company in the United States by assets. Bank of America serves clients through 5,600 branches and 16,200 ATMs in more than 150 countries and has a relationship with 99% of the U.S. Fortune 500 companies and 83% of the Fortune Global 500. The company is a member of the Federal Deposit Insurance Corporation (FDIC) and a component of both the S&P 500 Index and the Dow Jones Industrial Average.

As of 2010, Bank of America is the fifth-largest company in the United States by total revenue, as well as the third-largest non-oil company in the U.S. (after Walmart and General Electric). In 2010, Forbes listed Bank of America as the 3rd biggest company in the world.

The bank's 2008 acquisition of Merrill Lynch made Bank of America the world's largest wealth management corporation and a major player in the investment banking market.

The company held 12.2% of all bank deposits in the United States as of August 2009, and is one of the Big Four banks in the United States, along with Citigroup, JPMorgan Chase and Wells Fargo—its main competitors. Bank of America operates in all 50 states of the U.S., the District of Columbia and more than 40 other countries. It has a retail banking footprint that covers approximately 80 percent of the U.S. population and serves approximately 57 million consumer and small business relationships at 5,600 banking centers and 16,200 ATMs.

Read more about Bank Of America:  Operations, Corporate Social Responsibility, Lawsuits, Notable Buildings

Other articles related to "bank of america, banks, bank of, bank":

Nelson Chai - Career - Bank of America
... When Bank of America (BofA) acquired Merrill Lynch in late 2008, they named Chai to head their Asia business ...
Bank Of America, Los Angeles
... The Bank of America, Los Angeles was established in 1923 by Orra E ... Monnette, emerging from a series of mergers between Los Angeles based banks between 1909 and 1923 ... predates the creation of the Bank of America, merging with the Bank of Italy (USA) in 1928-29 to form the Bank of America ...
Hurricane Katrina Aid - Corporate Philanthropy - Banking and Finance - Bank of America
... On September 1, 2005, Bank of America announced that It will immediately donate $500,000 to the American Red Cross — Disaster Relief Fund and $100,000 to the Houston Food Bank ... and finance charges will be waived and emergency credit lines on Bank of America Visa or MasterCard credit cards will be increased ...

Famous quotes containing the words bank of, america and/or bank:

    A self is, by its very essence, a being with a past. One must look lengthwise backwards in the stream of time in order to see the self, or its shadow, now moving with the stream, now eddying in the currents from bank to bank of its channel, and now strenuously straining onwards in the pursuit of its chosen good.
    Josiah Royce (1855–1916)

    Elvis’ disappearing body is like a flashing event horizon at the edge of the black hole that is America today.
    Arthur Kroker (b. 1945)

    When women can support themselves, have entry to all the trades and professions, with a house of their own over their heads and a bank account, they will own their bodies and be dictators in the social realm.
    Elizabeth Cady Stanton (1815–1902)