#2. Bank of America, National Association ($1,471,631,047,000)
Bank of America, National Association
(B of A, BoA, BofA) 101 S Tryon St
Charlotte, NC 28280 http://www.bankofamerica.com/
Background
Bank of America was formed in 1904. It is a financial holding company, providing a range of banking and nonbanking financial services and products in the United States and internationally. It is currently the second largest bank operating in the United States in terms of its total assets. The Bank, once considered one of the winners and healthiest survivors of the 2007 credit crisis, plunged in market value after its purchase of Merrill Lynch.
It is also known as one of Big Four Banks of United States along with JPMorgan Chase Bank, Citigroup, and Wells Fargo.
FDIC Certificate #
3510
Bank Charter Class
Commercial Bank
Asset Concentration
All other > $1 Billion
Product Specialty
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.
Key Information & News
Number of Branches: 6193 offices in the U.S.
Number of Employees: 170,158 employees.
Executives
CEO
Kenneth D. Lewis
CFO
Joe L. Price
CAO
J. Steele Alphin
2008 News
Acquired Countrywide Financial Corporation on Jan 11, 2008 for $4.1 billion, giving the bank a substantial share in the mortgage market. The deal officially closed on July 1, 2008.
Received $25 billion in TARP money in the Fall 2008.
2009 News
Purchased Merrill Lynch & Co Inc. on Sept 15th, 2008 for approximately $50 billion. Deal Closed on Jan 1, 2009.
Received $20 billion from the U.S. government through the TARP fund in Jan 16, 2009.
According to a March 15, 2009 article in The New York Times, Bank of America received an additional $5.2 billion in government bailout money which was channeled through American International Group.
