| |||||||||||
| |||||||||||
Bank of America Corporation
Stock Symbol: BAC
100 N. Tryon St
Charlotte, NC 28255
704-386-8486 (phone)
704-386-6699 (fax)
Website: BOA
Industry: Money Center Banks
Index Membership: S&P 100; S&P 500; S&P 1500 Super Comp
Bank of America Corporation Description:
One of the world's leading financial services companies, Bank of America is committed to making banking work for customers and clients like it never has before. Through innovative technologies and the ingenuity of its people, Bank of America provides individuals, small businesses and commercial, corporate and institutional clients across the United States and around the world new and better ways to manage their financial lives.
Bank of America Corporation Financial Summary:
For the nine months ended 30 September 2005, Bank of America Corporation's interest income rose 37% to $42.65B. Net interest income after LLP rose 9% to $20.68B. Net income applicable to Common rose 27% to $13.10B. Net interest income reflects higher earning asset balances and yields, partially offset by lower net interest spreads and margins. Net income also reflects a sharp rise in non-interest income due, in part, to an increase in equity investment gains.
Bank of America Corporation Business Summary:
Bank of America Corporation, a financial holding company, provides banking and nonbanking financial services in the United States and internationally. The company offers savings accounts, money market savings accounts, certificate of deposits, individual retirement accounts, and regular and interest-checking accounts; consumer cards, business cards, debit cards, international cards, and merchant services; mortgage products for home purchase and refinancing needs; insurance services; and lines of credit and home equity loans. Bank of America also offers commercial and corporate bank loans. indirect consumer loans, commitment facilities, real estate lending products, and leasing and asset-based lending products for banking clients, middle market commercial clients, multinational corporate clients, public and private developers, homebuilders, and commercial real estate firms. As of September 26, 2007, the company operated approximately 5,700 retail banking offices and 17,000 automated teller machines. Bank of America was founded in 1874 and is headquartered in Charlotte, North Carolina.
