Bank of America
One of the largest US banks, across consumer banking, Merrill wealth management and investment banking.
Public · NYSE:BAC- Sector
- Banking
- Based in
- Charlotte, United States
- Invested
- Apr 2023
Bank of America is one of the largest banks in the United States. It provides everyday banking, credit cards, mortgages and car loans to tens of millions of customers, as well as lending and treasury services to businesses.
It also owns Merrill, one of the largest wealth management businesses in the US, and runs a global investment bank and markets business under BofA Securities.
The bank's roots go back to the Bank of Italy, founded in San Francisco in 1904. Its current form came from the 1998 merger of NationsBank and BankAmerica, and it bought Merrill Lynch in 2009.
From the notebook
All notesThen & now
Bank of America bought Merrill for $50bn 18 years ago this month
On 15 September 2008, at the height of the financial crisis, Bank of America agreed to buy Merrill Lynch for about $50 billion in stock, ending 94 years of Merrill's independence. Eighteen years on, Merrill Wealth Management alone reported $4.1 trillion in client balances in the second quarter of 2026, with wealth and investment management net income up sharply on the year.
Written by AI from share prices, the companies' posts and the news. Can be wrong; not financial advice.
