BNET Industries
Bank of America Corp. (BAC) is in the Financial Services Industry
- Revenue
- Dec 31 2007
- $119.1B
- Profit
- Dec 31 2007
- $14.9B
- Market Cap
- May 09 2008
- $163.1B
Latest News and Analysis
Countrywide Falls on Worry Over B of A Merger
NEW YORK (Reuters) - Countrywide Financial Corp (CFC) shares fell nearly 6 percent on Friday on renewed speculation that Bank of America Corp (BAC) will renegotiate or cancel its agreement to buy the largest U.S. mortgage lender. The second-largest U.S. bank agreed in...
Analysts Say BofA May Lower Countrywide Deal Price
By Tenzin Pema BANGALORE (Reuters UK) - At least two analysts said Bank of America (BAC) will likely lower its purchase price for Countrywide Financial (CFC), with Friedman, Billings Ramsey analyst saying the bank may bring down its deal price to the $0 to $2...
Analysts Say BofA May Lower Countrywide Deal Price
By Tenzin Pema BANGALORE (Reuters) - At least two analysts said Bank of America Corp (BAC) will likely lower its purchase price for Countrywide Financial Corp (CFC), with Friedman, Billings Ramsey analyst saying the bank may bring down its deal price to ...
Fed Backs Credit Card Reforms
By John Poirier WASHINGTON (Reuters) - The Federal Reserve on Friday joined other U.S. banking regulators in backing new limits on certain billing practices by credit card companies. The Fed approved a proposal that would generally prohibit credit card companies from increasing the...
Countrywide Said Junk Rating Would Hobble Business
NEW YORK (Reuters) - Even as it prepares to be acquired by Bank of America Corp (BAC), Countrywide Financial Corp's (CFC) descent to a "junk" credit rating could hinder its ability to make loans and collect deposits, the mortgage company has...
BoA Says No Assurance on Countrywide Debt: Filing
NEW YORK (Reuters) - Bank of America (BAC), which said it would buy Countrywide Financial Corp (CFC) in January, said there was no assurance any of the mortgage lender's outstanding debt would be redeemed, assumed or guaranteed, according to a regulatory...
Citigroup to Sell $3 Bln in Stock; Shares Fall
By Jonathan Stempel and Dan Wilchins NEW YORK (Reuters) - Citigroup Inc (C) said on Tuesday it plans to sell $3 billion of common stock to bolster its capital levels, sending its shares down in after-hours trading. The largest U.S. bank is raising capital after...
Countrywide, GMAC Post Big Losses on Mortgages
By Jonathan Stempel NEW YORK (Reuters) - Countrywide Financial Corp (CFC) and GMAC LLC, which run the largest independent U.S. mortgage lenders, posted big first-quarter losses on Tuesday, hurt by credit problems as the nation's housing slump deepens. Lenders are writing down mortgages...
GMAC Posts Loss on Mortgage Woes
By Jonathan Stempel NEW YORK (Reuters) - Finance company GMAC said on Tuesday its first-quarter loss nearly doubled as more customers fell behind on mortgage payments, and warned that it might not be profitable until well into 2009, later than expected. The loss...
Countrywide Posts Loss as Bad Loans Soar
By Jonathan Stempel NEW YORK (Reuters) - Countrywide Financial Corp (CFC), the largest U.S. mortgage lender, posted a surprisingly large $893.1 million first-quarter loss on Tuesday, taking more than $3 billion of charges for write-downs and bad loans as the housing...
Appeals Court Orders New Credit Card Case Trial
By Leslie Gevirtz NEW YORK (Reuters) - A U.S. appeals court reinstated a class-action suit on Friday against a group of banks that force their credit card customers to use arbitration instead of the courts to settle disputes. The credit cardholders "alleged that...
Citigroup Launches $6 Billion Preferred Share Sale: IFR
NEW YORK (Reuters) - Citigroup (C) on Monday will sell $6 billion in non-cumulative perpetual preferred shares, said International Financing Review, a Thomson Reuters publication. The shares are expected to pay a fixed 8.4 percent dividend for 10 years and pay a floating...
Bank of America Net Falls on Credit Losses
By Jonathan Stempel NEW YORK (Reuters) - Bank of America Corp (BAC), the largest U.S. retail bank, posted a 77 percent decline in quarterly profit on Monday, as a growing number of consumers and real estate developers failed to repay loans. Profit dropped...
Bank of America Net Down 77 Pct on Credit Losses
By Jonathan Stempel NEW YORK (Reuters UK) - Bank of America Corp (BAC), the largest U.S. retail bank, posted a 77 percent decline in quarterly profit on Monday, as a growing number of consumers and real estate developers failed to repay loans. Profit dropped for a...
Bank of America 1st-quarter Profit Falls
NEW YORK (Reuters UK) - Bank of America (BAC), the second-largest U.S. bank, on Monday said first-quarter profit fell, hurt by write-downs and rising credit losses. Net income for the Charlotte, North Carolina-based company fell to $1.21 billion (610 million pounds), or 23 cents per ...
Bank of America Profit Falls
NEW YORK (Reuters) - Bank of America Corp (BAC), the second-largest U.S. bank, on Monday said first-quarter profit fell, hurt by write-downs and rising credit losses. Net income for the Charlotte, North Carolina-based company fell to $1.21 billion, or 23 cents per share,...
Earnings Are Key as Dow Nears Turnaround
By Jennifer Coogan NEW YORK (Reuters) - Investors will have seen enough corporate results by the end of this week to determine if the recent string of encouraging earnings was an anomaly or a real sign stocks can weather the credit crisis and...
Sears Says Credit Pact With Bank of America to End
By Emily Chasan NEW YORK (Reuters) - Retailer Sears Holdings Corp (SHLD) said on Friday a credit agreement with Bank of America Corp (BAC) would come to an end after the bank would not agree to renew it under existing terms. Shares of...
Talbots Affirms Outlook; Sees Enough Funding
CHICAGO (Reuters) - Women's clothing retailer Talbots Inc (TLB) stood by its 2008 outlook on Friday and said meeting that goal would give it sufficient funding to continue turning around its business. The forecast was released after its shares fell almost 40 ...
State Officials Probing Auction-rate Market
By Karen Pierog CHICAGO (Reuters) - New York's attorney general and securities regulators in several U.S. states are probing auction-rate securities and the role Wall Street firms had in enticing investors into the troubled $330 billion market. New York Attorney General Andrew Cuomo's...
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- Incorporated: 1968
- CEO: Mr. Kenneth D. Lewis
Bank of America is a bank holding company and a financial holding company. Through its banking subsidiaries and various nonbanking subsidiaries throughout the U.S. and in selected international markets, Co. provides a range of banking and nonbanking financial services and products through three business segments: Global Consumer and Small Business Banking, Global Corporate and Investment Banking, and Global Wealth and Investment Management. As of Dec 31 2007, Co. operated in 32 states, the District of Columbia and more than 30 foreign countries. At Dec 31 2007, Co. had total assets of $1.72 trillion and total deposits of $805.20 billion.
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Bank of America Corp. Company Info
Board of Directors
Mr. Kenneth D. Lewis
Chairman
Mr. Thomas J. May
Ms. Patricia E. Mitchell
Mr. Thomas M. Ryan
Mr. O. Temple Sloan Jr.
Mrs. Meredith R. Spangler
Mr. Robert L. Tillman
Ms. Jackie M. Ward
Mr. William Barnet III
Mr. Frank P. Bramble Sr.
Mr. John T. Collins
Mr. Gary L. Countryman
General Tommy R. Franks
Mr. Charles K. Gifford
Ms. Monica C. Lozano
Dr. Walter E. Massey Ph.D.
Contact Information
Bank of America Corporate Center
100 N. Tryon Street
Charlotte, NC
704 386-5681
NAICS Code
Commercial Banking: 522110
