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The Bank of America Corporation (Bank of America) (often abbreviated BofA or BoM) is an American multinational investment bank and financial services holding company headquartered at the Bank of America Corporate Center in Charlotte, North Carolina, with investment banking and auxiliary headquarters in Manhattan.
The company agreed to be acquired by Bank of America on September 14, 2008, at the height of the Financial crisis of 2007–2008, the same weekend that Lehman Brothers was allowed to fail. The acquisition was completed in January 2009 [2] and Merrill Lynch & Co., Inc. was merged into Bank of America Corporation in October 2013.
Company insiders, including board members and corporate executives, own a further 0.06% of the outstanding common stock. And the public at large owns the remaining 39%. Institutional investors
Including predecessor Bank of North America, the first bank in the United States First Union Corporation: Wells Fargo: 1998 NationsBank Corp. BankAmerica Corp. Bank of America Corp. Bank of America: 1998 Golden State Bancorp: First Nationwide Holdings, Inc. Golden State Bancorp: $5.8 billion Citigroup: 1998 Norwest Corporation: Wells Fargo Corp ...
The list excludes the following three banks listed amongst the 100 largest by the Federal Reserve but not the Federal Financial Institutions Examination Council because they are not holding companies: Zions Bancorporation ($87 billion in assets), Cadence Bank ($48 billion in assets) and Bank OZK ($36 billion in assets).
A bank holding company is a corporate entity that owns a controlling interest in one or more banks. While a bank holding company doesn’t offer banking services directly, it manages banks that do.
BofA Securities, Inc., [1] previously Bank of America Merrill Lynch (BAML), is an American multinational investment banking division under the auspices of Bank of America. It is not to be confused with Merrill , the stock brokerage and trading platform subsidiary of Bank of America.
You might know Bank of America (NYSE: BAC) as one of the world's largest financial institutions. It is a well-known consumer-facing bank with over $3.2 trillion in assets today. You might also ...