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Wednesday, May 06, 2009

Bank of America (Bank of Italy)





Bank of America Corporation (NYSE: BAC), based in Charlotte, North Carolina is the largest financial services company in the world[4], largest bank by assets,[3] second largest commercial bank by deposits, and (previously) third largest by market capitalization in the United States.[5][6] Also, Bank of America is the number one underwriter of global high yield debt, the third largest underwriter of global equity and the ninth largest adviser on global mergers and acquisitions.[7]


Bank of America serves clients in more than 150 countries and has a relationship with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500. The company is a component of the Dow Jones Industrial Average and a member of the Federal Deposit Insurance Corporation (FDIC).[8]


The Bank, at one point considered one of the winners and healthiest survivors of the 2007 credit crisis, plunged in market value due to, in part, massive losses caused by its purchase of Merrill Lynch. It's Q1 2009 profit was 4.2 billion with 3.7 billion having come from Merrill Lynch. [9]


Contents



Corporate history
Bank of Italy


The Bank of Italy was founded in San Francisco by Amadeo Giannini in 1904, based on catering to immigrants. Amadeo was raised by the Fava/Stanghellini family when his father was shot while trying to collect on a $10.00 debt. When the 1906 San Francisco earthquake struck, Giannini was able to get all of the deposits out of the bank building and away from the fires.
In 1922, Giannini established Bank of America and Italy in Italy by buying Banca dell'Italia Meridionale, itself only established in 1918.

In the late 1920s, Giannini approached Orra E. Monnette, President and founder of Bank of America, Los Angeles, about a merger between the two entities. The Los Angeles based bank had exhibited strong growth throughout the 1920s, due in part to its success in developing an advanced branch banking system. The merger was completed in early 1929 and took the name Bank of America. The combined company was headed by Giannini with Monnette serving as co-Chair.


Growth in California
Giannini sought to build a national bank, expanding into most of the western states as well as into the insurance industry, under the aegis of his holding company, Transamerica Corporation. The passage of the Bank Holding Company Act of 1956, prohibited banks from owning non-banking subsidiaries such as insurance companies. Bank of America and Transamerica were separated, with the latter company continuing in the insurance business. However, federal banking regulators prohibited Bank of America's interstate banking activity, and Bank of America's domestic banks outside California were forced into a separate company that eventually became First Interstate Bancorp, which was acquired by Wells Fargo and Company in 1996. It was not until the 1980s with a change in federal banking legislation and regulation that Bank of America was again able to expand its domestic consumer banking activity outside California.


These technologies also allowed credit cards to be linked directly to individual bank accounts. In 1958, the bank introduced the BankAmericard, which changed its name to VISA in 1975.[10] A consortium of other California banks came up with Master Charge (now MasterCard) in order to compete with BankAmericard.



Expansion outside of California
Bank of America Corporate Center, located in the center of uptown Charlotte, North Carolina.
Following the passage of the Bank Holding Company Act of 1967, BankAmerica Corporation was established for the purpose of owning Bank of America and its subsidiaries.

BankAmerica expanded outside California in 1983 with its acquisition of Seafirst Corporation of Seattle, Washington, and its wholly owned banking subsidiary, Seattle-First National Bank. Seafirst was at risk of seizure by the federal government after becoming insolvent due to a series of bad loans to the oil industry. BankAmerica continued to operate its new subsidiary as Seafirst rather than Bank of America until the 1998 merger with NationsBank.


BankAmerica was dealt huge losses in 1986 and 1987 by the placement of a series of bad loans in the Third World, particularly in Latin America. The company fired its CEO, Sam Armacost. Though Armacost blamed the problems on his predecessor, A.W. (Tom) Clausen, Clausen was appointed to replace Armacost. The losses resulted in a huge decline of BankAmerica stock, making it vulnerable to a hostile takeover. First Interstate Bancorp of Los Angeles (which had originated from banks once owned by BankAmerica), launched such a bid in the fall of 1986, although BankAmerica rebuffed it, mostly by selling operations. It sold its FinanceAmerica subsidiary to Chrysler and the brokerage firm Charles Schwab and Co. back to Mr. Schwab. It also sold Bank of America and Italy to Deutsche Bank. By the time of the 1987 stock market crash, BankAmerica's share price had fallen to $8, but by 1992 it had rebounded mightily to become one of the biggest gainers of that half-decade.


BankAmerica's next big acquisition came in 1992. The company acquired its California rival, Security Pacific Corporation and its subsidiary Security Pacific National Bank in California and other banks in Arizona, Idaho, Oregon and Washington (which Security Pacific had acquired in a series of acquisitions in the late 1980s). This was, at the time, the largest bank acquisition in history. Federal regulators, however, forced the sale of Security Pacific's Washington subsidiary, Rainier Bank, as the combination of Seafirst and Rainier would have given BankAmerica too large a share of the market in that state. The Rainier Bank branches were divided and sold off to West One Bancorp (now U.S. Bancorp) and KeyBank.[11] Later that year, BankAmerica expanded into Nevada by acquiring Valley Bank of Nevada.


In 1994, BankAmerica acquired the Continental Illinois National Bank and Trust Co. of Chicago, which had become federally owned as part of the same oil industry debacle emanating from Oklahoma City's Penn Square Bank, that had brought down numerous financial institutions including Seafirst. At the time, no bank had the resources to bail out Continental, so the federal government operated the bank for nearly a decade. Illinois at that time regulated branch banking extremely heavily, so Bank of America Illinois was a single-unit bank until the 21st century. BankAmerica moved its national lending department to Chicago in an effort to establish a financial beachhead in the region.


These mergers helped BankAmerica Corporation to once again become the largest U.S. bank holding company in terms of deposits, but the company fell to second place in 1997 behind fast-growing NationsBank Corporation, and to third in 1998 behind North Carolina's First Union Corp. In 1998, BankAmerica was purchased by North Carolina-based NationsBank, and changed the headquarters to Charlotte, North Carolina.


Merger of NationsBank and BankAmerica
In 1997, BankAmerica lent D. E. Shaw & Co., a large hedge fund, $1.4bn so that the hedge fund would run various businesses for the bank. However, D.E. Shaw suffered significant loss after the 1998 Russia bond default. BankAmerica was acquired by NationsBank later that year in October.


The purchase of BankAmerica Corp. by the NationsBank Corporation was the largest bank acquisition in history at that time. While the deal was technically a purchase of BankAmerica Corporation by NationsBank, the deal was structured as merger with NationsBank renamed to Bank of America Corporation, and Bank of America NT&SA, changing its name to Bank of America, N.A. as the remaining legal bank entity. The bank still operates under Federal Charter 13044 which was granted to Giannini's Bank of Italy on March 1, 1927. However, SEC filings before 1998 are listed under NationsBank, not BankAmerica.


Following the US$64.8 billion acquisition of BankAmerica by NationsBank, the resulting Bank of America had combined assets of US$570 billion, as well as 4,800 branches in 22 states. Despite the mammoth size of the two companies, federal regulators insisted only upon the divestiture of 13 branches in New Mexico, in towns that would be left with only a single bank following the combination. This is because branch divestitures are only required if the combined company will have a larger than 25 percent FDIC deposit market share in a particular state or 10 percent deposit market share overall.

History since 2001
In 2001, Bank of America CEO and chairman Hugh McColl stepped down and named Ken Lewis as his successor. Lewis's greater focus on financial discipline and efficiency contrasted greatly with the expansionary mergers and acquisition strategy of his predecessor.

Acquisition of FleetBoston Financial
In 2004, Bank of America announced it would purchase Boston-based bank FleetBoston Financial for $47 billion in cash and stock.[12] By merging with Bank of America, all of its banks and branches were given the Bank of America logo. At the time of merger, FleetBoston was the seventh largest bank in United States with $197 billion in assets, over 20 million customers and revenue of $12 billion.[12]

Purchase of MBNA
On 30 June 2005, Bank of America announced it would purchase credit card giant MBNA for $35 billion in cash and stock. The Federal Reserve Board gave final approval to the merger on 15 December 2005, and the merger closed on 1 January 2006. The acquisition of MBNA provided Bank of America a leading credit card issuer at home and abroad. The combined Bank of America Card Services organization, including the former MBNA — had more than 40 million U.S. accounts and nearly $140 billion in outstanding balances. Under Bank of America the operation was renamed FIA Card Services.

Divestiture of operations in Brazil, Chile and Uruguay
In May 2006, Bank of America and Banco Itaú (Investimentos Itaú S.A.) entered into an acquisition agreement through which Itaú agreed to acquire BankBoston's operations in Brazil and was granted an exclusive right to purchase Bank of America's operations in Chile and Uruguay. A deal was signed in August 2006 under which Itaú agreed to purchase Bank of America's operations in Chile and Uruguay. Prior to the transaction, BankBoston's Brazilian operations included asset management, private banking, a credit card portfolio, and small, middle-market, and large corporate segments. It had 66 branches and 203,000 clients in Brazil. BankBoston in Chile had 44 branches and 58,000 clients and in Uruguay it had 15 branches. In addition, there was a credit card company, OCA, in Uruguay, which had 23 branches. BankBoston N.A. in Uruguay, together with OCA, jointly served 372,000 clients. While the BankBoston name and trademarks were not part of the transaction, as part of the sale agreement, they cannot be used by Bank of America in Brazil, Chile or Uruguay following the transactions. Hence, the BankBoston name has disappeared from Brazil, Chile and Uruguay. The Itaú stock received by Bank of America in the transactions has allowed Bank of America's stake in Itaú to reach 11.51%. Banco Boston do Brazil had been founded in 1947.

Purchase of US Trust
On 20 November 2006, Bank of America announced the purchase of The United States Trust Company for $3.3 billion, from the Charles Schwab Corporation. US Trust had about $100 billion of Assets Under Management and over 150 years of experience. The deal closed 1 July 2007.[13]

Acquisition of ABN AMRO North America and LaSalle Bank
On September 14, 2007, Bank of America won approval from the Federal Reserve to acquire ABN AMRO N.A. and LaSalle Bank Corporation from Netherlands's ABN AMRO for $21 billion. With this combination Bank of America will have 1.7 trillion in assets. A Dutch court blocked the sale until it was later approved in July. The acquisition was completed on October 1, 2007.
The deal increased Bank of America's presence in Illinois, Michigan, and Indiana by 411 branches, 17,000 commercial bank clients, 1.4 million retail customers and 1,500 ATMs. Bank of America has become the largest bank in the Chicago market with 197 offices and 14% of the deposit share, passing up JPMorgan Chase.
LaSalle Bank and LaSalle Bank Midwest branches adopted the Bank of America name on 5 May 2008.[14]

Acquisition of Countrywide Financial
On August 23, 2007 the company announced a $2 billion repurchase agreement for Countrywide Financial. This purchase of preferred stock was arranged to provide a return on investment of 7.25% per annum and provided the option to purchase common stock at a price of $18 per share.[15]


Following that initial investment, on January 11, 2008, Bank of America announced that they would buy Countrywide Financial for $4.1 billion.[16] This acquisition, which closed on July 1, 2008, gave the bank a substantial market share of the mortgage business, and access to Countrywide's expertise, technology, and employees for servicing mortgages.[17] The acquisition was seen as preventing the potential of bankruptcy for Countrywide. Countrywide, however, denied that it was close to bankruptcy. Countrywide provides mortgage servicing for nine million mortgages valued at $1.4 trillion USD as of December 31, 2007.[18] However, Countrywide is under FBI investigation due to possible fraud in home loans and mortgages, therefore Bank of America states that by 2009 they will only be "officially" affiliated to Countrywide.[19]


On July 1, 2008, Bank of America Corporation completed its purchase of Countrywide Financial Corporation. This purchase made it the USA's leading mortgage originator and servicer, controlling between 20 to 25 percent of the home loan market.[20] The deal was structured to merge Countrywide with the Red Oak Merger Corporation, which Bank of America created as an independent subsidiary. It has been suggested that the deal was structured this way to prevent a potential bankruptcy stemming from large losses in Countrywide hurting the parent organization by keeping Countrywide bankruptcy remote.[21]

Acquisition of Merrill Lynch
On September 15, 2008, Bank of America announced its intentions to purchase Merrill Lynch & Co., Inc. in an all-stock deal worth approximately $ 50 billion, about 86% of the Bank of America stock price at close. Merrill Lynch was at the time within days of collapse, and the acquisition effectively saved Merrill from bankruptcy.[22] Around the same time Bank of America was reportedly also in talks to purchase Lehman Brothers, however a lack of government guarantees caused the bank to abandon talks with Lehman.[23] Lehman Brothers filed for bankruptcy the same day Bank of America announced its plans to acquire Merrill Lynch.[24] This acquisition made Bank of America the largest financial services company in the world.[25] Temasek Holdings, the largest shareholder of Merrill Lynch & Co., Inc., has become one of the largest shareholders of Bank of America.[26]


Shareholders of both companies approved the acquisition on December 5, 2008, and the deal closed January 1, 2009.[27]

The Bank, in its January 16, 2009 earnings release, revealed massive losses at Merrill Lynch in the fourth quarter, which necessitated an emergency government bailout of the Bank to keep it solvent. Merrill recorded an operating loss of $21.5 billion in the quarter, mainly in its sales and trading operations, led by Tom Montag. The Bank also disclosed it tried to abandon the deal in December after the extent of Merrill's trading losses surfaced, but was compelled to complete the merger by the U.S. government. The Bank's stock price sank to $7.18, its lowest level in 17 years, after announcing earnings and the Merrill mishap. The market capitalization of Bank of America, including Merrill Lynch, was then $45 billion, less than the $50 billion it offered for Merrill just four months earlier, and down $108 billion from the merger announcement.

Federal bailout

This section requires expansion.
Bank of America received US $20 billion in federal bailout from the US government through the TARP program on 16 January 2009 and also got guarantee of US $118 billion in potential losses at the company.[28] This was in addition to the $25 billion given to them in the Fall of 2008 through TARP. The additional payment was part of a deal with the US government to preserve Bank of America's merger with the troubled investment firm Merrill Lynch.[29] Since then, members of the US Congress have expressed considerable concern about how this money has been spent, especially since some of the recipients have been accused of mis-using the bailout money.[30] The Bank's CEO, Ken Lewis, was quoted as claiming "We are still lending, and we are lending far more because of the TARP program." Members of the US House of Representatives, however, were skeptical and quoted many anecdotes about loan applicants (particularly small business owners) being denied loans and credit card holders facing stiffer terms on the debt in their card accounts.


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. [31]

Bank of America divisions

Bank of America ATM

Typical Bank of America local office

Bank of America branch in Lowell, MA
Bank of America generates 90% of its revenues in its domestic market and continues to buy businesses in the US. The core of Bank of America's strategy is to be the number one bank in its domestic market. It has achieved this through key acquisitions.[32]

Consumer
Global Consumer and Small Business Banking (GC&SBB) is the largest division in the company, and deals primarily with consumer banking and credit card issuance. The acquisition of FleetBoston and MBNA significantly expanded its size and range of services, resulting in about 51% of the company's total revenue in 2005. It competes directly with the retail banking divisions of Citigroup and JPMorgan Chase. The GC&SBB organization includes over 6,100 retail branches and over 18,700 ATMs across the United States.

Bank of America is a member of the Global ATM Alliance, a joint venture of several major international banks that allows customers of the banks to use their ATM card or check card at another bank within the Global ATM Alliance with no fees when traveling internationally. Other participating banks are Barclays (United Kingdom), BNP Paribas (France), China Construction Bank (China), Deutsche Bank (Germany), Santander Serfin (Mexico), Scotiabank (Canada) and Westpac (Australia and New Zealand).[33] This feature is restricted to withdrawals using a debit card, though credit card withdrawals are still subject to cash advance fees and foreign currency conversion fees. Additionally, some foreign ATMs use Smart Card technology and may not accept non-Smart Cards.


Bank of America, N.A is a nationally chartered bank, regulated by the Office of the Comptroller of the Currency, Department of the Treasury.

Corporate
Global Corporate and Investment Banking (GCIB), also known as Banc of America Securities LLC, provides mergers and acquisitions advisory, underwriting, capital markets, as well as sales & trading in fixed income and equities markets. Its strongest groups include Leveraged Finance, Syndicated Loans, and mortgage-backed securities. It also has one of the largest research teams on Wall Street. Banc of America Securities LLC is based in New York City, with major offices also located in Charlotte, Chicago, San Francisco, Tokyo, Frankfurt, London, and Mumbai. Ken Lewis, the ambitious chief executive who masterminded the bank's expansion into exotic new businesses including GCIB, bluntly ruled out any further acquisitions in its investment banking division. "I've had all of the fun I can stand in investment banking at the moment," he told analysts.

Investment management
Global Wealth and Investment Management manages assets of institutions and individuals. It is among the 10 largest U.S. wealth managers (ranked by private banking assets under management in accounts of $1 million or more as of June 30, 2005). In July 2006, Chairman Ken Lewis announced that GWIM's total assets under management exceeded $500 billion. GWIM has five primary lines of business: Premier Banking & Investments (including Bank of America Investment Services, Inc.), The Private Bank, Family Wealth Advisors, Columbia Management Group, and Banc of America Specialist.


Bank of America has recently spent $675 million building its US investment banking business and is looking to become one of the top five investment banks worldwide. "Bank of America already has excellent relationships with the corporate and financial institutions world. Its clients include 98% of the Fortune 500 companies in the US and 79% of the Global Fortune 500. These relationships, as well as a balance sheet that most banks would kill for, are the foundations for a lofty ambition."[34]


Bank of America is currently constructing a massive new headquarters for its New York City operations. The skyscaper will be located on 42nd Street and Avenue of the Americas, at Bryant Park, and will feature state of the art, environmentally-friendly technology throughout its 1.2 million square feet (111,484 m²) of office space. The building will be the headquarters for the company's investment banking division, and will also host most of Bank of America's New York-based staff.

International operations
In 2005, Bank of America acquired a 9% stake in China Construction Bank, China's second largest bank, for $3 billion.[35] It represented the company's largest foray into China's growing banking sector. Bank of America currently has offices in Hong Kong, Shanghai, and Guangzhou and is looking to greatly expand its Chinese business as a result of this deal. In 2008 Bank of America was awarded Deal of the Year - Project Finance Deal of the Year at the 2008 ALB Hong Kong Law Awards[36].


Bank of America has invested in India as an emerging market. Currently, Bank of America maintains branches in Mumbai, Chennai, Calcutta, New Delhi and Bangalore. For the fiscal year ending March 31, 2006 Bank of America reported an 80% increase in net profit.[37]
Bank of America operated under the name BankBoston in many other Latin American countries, including Brazil. In 2006, Bank of America sold all BankBoston's operations to Brazilian bank Banco Itaú, in exchange for Itaú shares. The BankBoston name and trademarks were not part of the transaction and, as part of the sale agreement, cannot be used by Bank of America. (That meant the extinction of the BankBoston brand.)


Bank of America's Global Corporate and Investment Banking spans the Globe with divisions in United States, Europe and Asia. The U.S. headquarters are located in New York, European headquarters are based in London and Asia's headquarters are split between Singapore & Hong Kong.

Board of Directors
William Barnet III, Chairman, President and Chief Executive Officer, The Barnet Company
Frank P. Bramble Sr, Former Executive Officer, MBNA Corporation
John T. Collins, Chief Executive Officer, The Collins Group
Gary L. Countryman, Chairman Emeritus, Liberty Mutual Group
Tommy Franks, Retired General, United States Army
Charles K. Gifford, Former Chairman, Bank of America Corporation
Kenneth D. Lewis, President and Chief Executive Officer, Bank of America Corporation
Monica C. Lozano, Publisher and Chief Executive Officer of La Opinion
Walter E. Massey, Chairman, Bank of America Corporation, President Emeritus, Morehouse College
Thomas J. May, Chairman, President and Chief Executive Officer, NSTAR
Patricia E. Mitchell, President and Chief Executive Officer, The Paley Center for Media
Thomas M. Ryan, President and Chief Executive Officer, CVS Caremark Corporation
O. Temple Sloan, Jr., Chairman, General Parts International
Meredith R. Spangler, Trustee and Board Member
Robert L. Tillman, Chairman and CEO Emeritus, Lowe's
Jackie M. Ward, Retired Chairman/CEO, Computer Generation

Major Shareholders
Individuals
Shares held
Kenneth D Lewis
2,372,260
John A Thain
679,946
Bruce L Hammonds
504,429
Keith T Banks
336,371
Charles K Gifford
334,176

Institutions

Shares held
% held
Barclays Global Investors
192,077,414
3.83
State Street Corp
187,394,299
3.73
FMR
152,596,052
3.04
Vanguard Group
142,204,635
2.83
Capital World Investors
114,829,550
2.29
Wellington Management Comp
102,053,133
2.03
AXA
89,824,923
1.79
Bank of New York Mellon Corp
65,284,687
1.30
Morgan Stanley
58,081,288
1.16
JP Morgan Chase & Co
54,816,605
1.09
data from Yahoo! Finance as of January 1, 2009

Social responsibility
In addition to its new eco-friendly office tower in Manhattan, Bank of America has pledged to spend billions on commercial lending and investment banking for projects that it considers "green." The corporation, which already supplied all of its employees with cash incentives to buy hybrid vehicles, is also helping its customers be eco-friendly by rolling out a new credit card program in 2007 that would donate money to helping the environment, as well as providing mortgage loan breaks for customers whose homes qualified as energy efficient.[38]
Bank of America has also donated money to help health centers in Massachusetts[39] and made donations to help homeless shelters in Miami.[40]


In 2004 the bank pledged $750 billion over a ten-year period for community development lending and investment. The company had delivered more than $230 billion against a ten-year commitment of $350 billion made in 1998 to provide affordable mortgage, build affordable housing, support small business and create jobs in disadvantaged neighborhoods.


Diversity and inclusion

Bank of America in Washington, D.C.
Bank of America was named for the 19th year as one of the "100 Best Companies for Working Mothers" in 2007 by Working Mother magazine. In 2006 Bank of America was one of the first companies inducted into Working Mother magazine's Hall of Fame.


In 2007, DiversityInc ranked Bank of America as the number one company for diversity in this prestigious list and placed as a top employer for executive women, Hispanics, Asian Americans and for GLBT executives, as well as number one for recruitment and retention, and number six for supplier diversity.


IT Senior Management Forum (ITSMF) recognized Bank of America as the "2007 Organization of the Year." This award is presented annually for leadership in the areas of developing and embracing a diverse workforce.


National Black MBA Association awarded Bank of America the "2006 Company of the Year" for recruiting, retaining and providing advancement opportunities for blacks in the workplace. It also recognized Bank of America's Managing Director, Deputy Head of Global Investment Banking Lewis Warren, Jr. as one of the "75 Most Powerful Blacks on Wall Street."
Bank of America was named the number one company for Hispanics by Hispanics Business Magazine in 2006. Latina Style continues to rank Bank of America in their Top 15 for its "50 Best Companies for Latinas" which measures companies based on recruitment, retention and advancement opportunities for Latinas.


Human Rights Campaign 2006 Corporate Equality Index gave Bank of America a 100% rating for its support of gay, lesbian, bisexual and transgender associates.

Controversies
As is the case with many large corporations, some of Bank of America's corporate policies have been controversial. Some policies, such as their overdraft fee policy, and their acceptance of the Matricula Consular as an acceptable form of identification for account opening are widespread in the financial industry. Other controversies have been more specific to Bank of America, such as its involvement in the bankruptcy of the Italian food and dairy conglomerate Parmalat or its receipt of funds from the Troubled Asset Relief Program. These controversies generate a great deal of media attention from critics on all points of the political spectrum.

Bank of America corporate buildings

Bank of America Plaza, Atlanta, GA.
Bank of America Center in Boise, ID
Bank of America Tower in Phoenix, AZ
Bank of America Center in Los Angeles, CA
555 California Street, formerly the Bank of America Center, in San Francisco, CA
Bank of America Tower in Jacksonville, FL
Bank of America Tower in Miami, FL
Bank of America Building in Orlando, FL
Bank of America Tower in St. Petersburg, FL
Bank of America Tower in Tampa, FL
Bank of America Plaza in Atlanta, GA (the tallest U.S. building outside of NYC and Chicago)
Bank of America Building, formerly the LaSalle Bank Building in Chicago, IL
Bank of America Building in Baltimore, MD
Bank of America Plaza in St Louis, MO
Bank of America Corporate Center in Charlotte, NC (The corporate headquarters)
Bank of America Plaza in Charlotte, NC
Bank of America Tower in Albuquerque, NM
Bank of America Tower in New York City, NY (under construction)
Bank of America Building in Providence, RI
Bank of America Plaza in Dallas, TX
Bank of America Center in Houston, TX
Bank of America Building in Bellevue, WA
Bank of America Fifth Avenue Plaza in Seattle, WA
Columbia Center in Seattle, WA
One City Center, often called the Bank of America building due to signage rights, in Portland, ME
200 Front Street West, often called the Bank of America tower in Toronto, ON
Bank of America Tower in Hong Kong

See also
Bank of America Canada
Bank of America (Asia)
List of bank mergers in United States



References



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  29. ^ http://uk.reuters.com/article/americasDealsNews/idUKTRE5140OA20090205

  30. ^ http://money.cnn.com/2009/02/11/news/companies/congress_banks/index.htm?postversion=2009021117

  31. ^ A.I.G. Lists Firms It Paid With Taxpayer Money, The New York Times, March 15, 2009

  32. ^ "Awards for Excellence 2007 Best Bank: Bank of America". Euromoney. 2007-07-13. http://www.euromoney.com/article.asp?ArticleID=1391932.

  33. ^ "Five big banks form Global ATM Alliance", ATMmarketplace.com. January 9, 2002. Accessed June 22, 2007.

  34. "Bank of America’s next step forward". Euromoney. 2007-07-13. http://www.euromoney.com/article.asp?ArticleID=1391226.

  35. ^ "Bank of America invests in China". BBC. 2005-06-17. http://news.bbc.co.uk/2/hi/business/4102670.stm. Retrieved on 2007-08-22.

  36. ^ http://www.legalbusinessonline.com.au/

  37. ^ "Bank of America's India operations have reported an 80 per cent jump in net profit". indiadaily.com. 2006-06-15. http://www.indiadaily.com/editorial/9739.asp.

  38. ^ "Bank vows $20 billion for green projects". msnbc. 2007-03-07. http://www.msnbc.msn.com/id/17500301/.

  39. ^ Kowalczyk, Liz (2007-03-10). "Bank to aid health centers". The Boston Globe. http://www.boston.com/business/globe/articles/2007/03/10/bank_to_aid_health_centers/. Retrieved on 2007-08-22.

  40. ^ Freer, Jim (2007-03-09). "BofA donates $1M to Camillus House". South Florida Business Journal. http://phoenix.bizjournals.com/southflorida/stories/2007/03/05/daily40.html. Retrieved on 2007-08-22.


Further reading
Bonadio, Felice A. (1994). A.P. Giannini: Banker of America. Berkeley, CA: University of California Press. ISBN 0520082494.
Hector, Gary (1988). Breaking the Bank: The Decline of BankAmerica. Boston: Little, Brown. ISBN 0316353922.
James, Marquie; James, Bessie (1954). Biography of a Bank: The Story of Bank of America N.T.&S.A.. New York: Harper and Brothers.
Johnston, Moira (1990). Roller Coaster: The Bank of America and the Future of American Banking. New York: Ticknor & Fields.
Josephson, Matthew (1972). The Money Lords; the great finance capitalists, 1925-1950. New York: Weybright and Talley.
Lampert, Hope (1986). Behind Closed Doors: Wheeling and Dealing in the Banking World. New York: Atheneum.
Light, Larry (2007-10-01). "Cover Story - Money for the Masses". Forbes Magazine.
Monnette, Orra Eugene. Personal Papers Collection. Los Angeles, CA: Los Angeles Public Library.
Nash, Gerald G. (1992). A.P. Giannini and the Bank of America. Norman, OK: University of Oklahoma Press.
Yockey, Ross (1999). McColl: The Man with America's Money. Atlanta: Longstreet Press.
Ahmed, Azam; Demirjian, Karoun (2007-02-15). "Credit offered to illegal residents". Chicago Tribune.

External links

Companies portal
Media related to Bank of America at Wikimedia Commons
Bankofamerica.com Homepage



Source:http://en.wikipedia.org/wiki/Bank_of_America

Note: Highlights, Bolds, and "Italics" added (used) for emphasis.......................Arsenio.

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