Bank Of America
Coordinates: 35°13′36.41″N 80°50′33.57″E / 35.2267806°N 80.8426583°E / 35.2267806; 80.8426583
|Traded as||NYSE: BAC
Dow Jones Component
S&P 500 Component
|Industry||Banking, Financial services|
|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.
|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)|
|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.
Other articles related to "bank of america, banks, bank of, bank":
... When Bank of America (BofA) acquired Merrill Lynch in late 2008, they named Chai to head their Asia business ...
... 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 ...
... 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 ...
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