Headquarters: 100 North Tryon St.
Charlotte, NC 28255
Employees: 286,951
CEO: Brian Moynihan
Stock Symbol: BAC
Website: http://www.bankofamerica.com
Company News
SEC Filings
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Bank of America is one of the world's largest financial institutions. It serves 57 million
customers including businesses and individuals.
Bank of America currently has 5,856 bank locations in 29 states and the District of
Columbia. It has 17,931Ã¥ ATMs and 29 million active online users. The company
serves clients through operations in more than 40 countries. It is the No. 1 Small
Business Administration lender in the U.S. It also operates an investment bank under
Bank of America Merrill Lynch.
Bank of America generated revenues in 2010 of $110.2 billion and net loss of $2.23
billion.
Bank of America Merrill Lynch ranked No. 2 in global investment banking revenues for
2010 with a 6.8 percent market share, according to Dealogic. The company ended the
year with No. 1 positions in both global and U.S. rankings in leveraged loans and asset-
backed securities.
History
Bank of America was originally headquarted in San Francisco. It merged with
NationsBank in Charlotte in 1998 and retained the Bank of America name.
Headquarters are now located in Charlotte.
Bank of America has helped finance thousands of films since the earliest days of
Hollywood. It also helped finance the construction of Disneyland in California.
In 2005, the company acquired MBNA, a leading issuer of credit cards. MBNA is now
part of Bank of America Card Services and the largest credit card issuer in the U.S.
Bank of America was added to the Dow Jones Industrial Average Index in February
2008.
Bank of America acquired mortgage lender Countrywide Financial in June 2008.
Bank of America bought investment bank Merrill Lynch in a controversial $50 billion all-
stock deal on September 15, 2008 which closed on Jan. 1, 2009. The deal was
reportedly forced by the Dept. of Treasury and Federal Reserve due to serious
problems at Merrill Lynch and the financial industry.
The company received $45 billion from the U.S. Treasury TARP program in 2008 and
repaid the entire amount through a stock sale in December 2009.
Benefits
Performance-based compensation - In addition to strong base compensation, bonuses
and incentive programs are important parts of our overall compensation package.
Healthcare plans - We offer a variety of medical, dental and vision plans to our
associates and their families (including domestic partners). We pay a majority of the
cost for associate medical coverage.
Insurance plans - Our wide range of insurance plans provides income replacement in
the event of serious injury or death.
Reimbursement accounts - Reimbursement accounts help to lower the costs of health
care and dependent care by allowing you to plan ahead using pre-tax dollars.
Retirement plans - We offer a voluntary 401(k) retirement saving plan and a company-
funded pension plan. After one year of service, Bank of America matches your pension
contribution up to 5% of pay.
Discounts on bank products and services - Eligible associates can take advantage of
discounts on a wide range of bank services, from checking accounts to credit cards.
Home loans - A variety of mortgages are available through Associate Banking.
Commuter benefits - This program allows associates to pay for many work-related
commuting expenses on a pre-tax basis up to pre-defined IRS limits. An associate may
enroll in the Program or make changes each month.
Other benefits available to associates include:
* Short-term disability
* Long-term disability
* Special leaves - bereavement, jury duty, Olympic, foster care, and military
* Matching charitable gifts program
* Long-term care
* Home ownership program
* Educational partnerships
* Volunteer grants program
* Volunteer Time Program
* Commuter Benefits
* MetLife Auto & Home Insurance Program
* Rewarding Success
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. The company provides
unmatched convenience in the United States, serving approximately 57 million consumer and small
business relationships with more than 5,800 retail banking offices and approximately 18,000 ATMs and
award-winning online banking with 29 million active 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 4 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.
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