Bank of America / BAC

About Bank of America

100 N. Tryon St., Charlotte, N.C. 28255
www.bankofamerica.com | Founded: 1874

Industry: Financial Services | Category: Banks

In a deal forced by the Federal Reserve and Treasury Department in September and with the help of $45 billion in federal bailout funds, Bank of America acquired troubled investment bank Merrill Lynch. The bank also got a federal guarantee capping losses on $118 billion in troubled assets. That followed a July purchase of troubled mortgage lender Countrywide Financial. Though the bank reported a profit in the first quarter, it warned that loan losses would increase.

2008 Financial Data

Net Income: $4,008,000,000
Asssets: $1,817,943,000,000 | Earnings Per Share: $0.55
Stockholder Equity: $177,052,000,000 | Annual Dividend: $2.24
Total employees: 243,075 | Local employees: 2,500