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Bank of America Corp BAC Stock Quote

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Circling Back on Bank of America After Q2 Earnings; Lowering Our Fair Value Estimate to $40 From $41

Business Strategy and Outlook

| Eric Compton, CFA |

The acquisitions of shaky investment bank Merrill Lynch, shady mortgage lender Countrywide Financial, and the equally dysfunctional MBNA led to a decade of troubles for Bank of America. The bank had to spend billions of dollars to settle legal and regulatory issues, and it has taken years to reshape the business and work through the credit losses. With all of this behind it, Bank of America has emerged as one of the pre-eminent U.S. banking franchises. Bank of America now has one of the best retail branch networks and overall retail franchises in the United States, is a Tier 1 investment bank, is a top four U.S. credit card issuer, is a top three U.S. acquirer, has a solid commercial banking franchise, and owns the Merrill Lynch franchise, which has turned into one of the leading U.S. brokerage and advisor firms.

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Key Statistics BAC

Company Profile BAC

Business Description

Bank of America is one of the largest financial institutions in the United States, with more than $2.5 trillion in assets. It is organized into four major segments: consumer banking, global wealth and investment management, global banking, and global markets. Bank of America's consumer-facing lines of business include its network of branches and deposit-gathering operations, home mortgage lending, vehicle lending, credit and debit cards, and small-business services. The company's Merrill Lynch operations provide brokerage and wealth-management services, as does U.S. Trust private bank. Wholesale lines of business include investment banking, corporate and commercial real estate lending, and capital markets operations. Bank of America has operations in several countries.

100 North Tryon Street, Bank of America Corporate Center
Charlotte, NC, 28255
T +1 704 386-5681
Industry Banks - Diversified
Most Recent Earnings Jun 30, 2022
Fiscal Year End Dec 31, 2022
Employees 210,000

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