Bank of America NEWS
Bank of America profits beat expectations
- The NationalBank of America
reported a better than expected rise in quarterly profit on Monday as the second-largest US lender benefited from cost cuts, while higher interest rates and loan growth helped offset weaker bond trading revenue. In his near-decade long ...
Bank of America to underwrite $10bn in non-prime loans
- Mortgage Professional AmericaBank of America
will underwrite $10 billion in non-prime mortgages to non-traditional borrowers at a series of events across the country, according to a CNBC report. The bank is partnering with the nonprofit Neighborhood Assistance Corporation of ...
CORPORATE REPORT: Bank of America; Anthem
- Sarasota Herald-TribuneBank of America
Corp. (BAC) — The Charlotte, North Carolina-based banking giant said its third-quarter profits rose by 32 percent from a year ago, as higher interest rates allowed it to charge more for loans, and lower corporate tax rates helped it ...
Fed rate rise sends Bank of America on profits surge
- The Times
Rising interest rates and a deep corporate tax cut helped Bank of America
to report a record quarterly profit that jumped by nearly a third to $7.2 billion. The second largest US bank by assets yesterday reported strong third-quarter performances from ...
Harris and EQT rise while Bank of America and Autodesk slip
NEW YORK (AP) — Stocks that moved substantially or traded heavily Monday: Harris Corp., up $18.38 to $173.25. The defense contractor said it will combine with competitor L3 Technologies in an all-stock deal. Autodesk Inc., down $3.58 to $134.60.
Bank of America's "Give a Meal" to Benefit High Plains Food Bank
One out of seven people in the panhandle struggle to keep food on the table. That's why for the seventh consecutive year, Feeding America, Bank of America
and High Plains Food Bank are partnering to end hunger on the high plains. They're partnering ...
Bank of America hits another record profit
- The Ledger
CHARLOTTE, N.C. — Bank of America
said Monday it made record profit during the third quarter of this year, an achievement the bank said was helped by an improving U.S. economy. Profit rose 32 percent from the same period a year ago to $7.2 billion ...
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The Bank of America Corporation (abbreviated as BofA) is an American multinational investment bank and financial services company based in Charlotte, North Carolina with central hubs in New York City, London, Hong Kong, and Toronto. Bank of America was formed through NationsBank's acquisition of BankAmerica in 1998. It is the second largest banking institution in the United States, after JP Morgan Chase. As a part of the Big Four, it services approximately 10.73% of all American bank deposits, in direct competition with Citigroup, Wells Fargo, and JPMorgan Chase. Its primary financial services revolve around commercial banking, wealth management, and investment banking.Founded as the Bank of Italy by Amadeo Pietro Giannini in 1904, it provided Italian immigrants who faced service discrimination various banking options. Originally headquartered in San Francisco, California, Giannini renamed his bank Banca d'America e d'Italia (Bank of America and Italy) in 1922, and expanded further into California. The passage of landmark federal banking legislation facilitated rapid growth in the 1950s, quickly establishing a prominent market share. After suffering a significant loss after the 1998 Russian bond default, BankAmerica, as it was then known, was acquired by the Charlotte-based NationsBank for US$62 billion. Following what was then the largest bank acquisition in history, the Bank of American Corporation was founded. Through a series of mergers and acquisitions, it built upon its commercial banking business by establishing Merrill Lynch for wealth management and Bank of America Merrill Lynch for investment banking in 2008 and 2009, respectively. Since both divisions carry the "Merrill Lynch" signage, the former is often referred to as "Merrill Lynch Wealth Management" to differentiate itself from the latter.Both Bank of America Merrill Lynch and Merrill Lynch Wealth Management retain large market shares in their respective offerings. The investment bank is considered within the "Bulge Bracket" as the third largest investment bank in the world, as of 2018. Its wealth management side manages US$1.081 trillion in assets under management (AUM) as the second largest wealth manager in the world, after UBS. In commercial banking, Bank of America operates—but does not necessarily maintain retail branches–in all 50 states of the United States, the District of Columbia and more than 40 other countries. Its commercial banking footprint encapsulates 46 million consumer and small business relationships at 4,600 banking centers and 15,900 automated teller machines (ATMs).The bank's large market share, business activities, and economic impact has led to numerous lawsuits and investigations regarding both mortgages and financial disclosures dating back to the 2008 financial crisis. Its corporate practices of servicing the middle class and wider banking community has yielded a substantial market share since the early 20th century. As of August 2018, Bank of America has a $313.5 billion market capitalization, making it the 13th largest company in the world. As the sixth largest American public company, it garnered $102.98 billion in sales as of June 2018. Bank of America was named the "World's Best Bank" by the Euromoney Institutional Investor in their 2018 Awards for Excellence.
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TMZ DJ Khaled could have just reserved a section at Chuck E Cheeses for his sons 2nd birthday party, but you know hes gotta be the best so he threw a bash at Major League Baseball field insteadhaleds son, Asahd, will turn 2 next week but Old Dominion Freight Line
PressOracle Old Dominion Freight Line (NASDAQ:ODFL) had its price target trimmed by Buckingham Research from $162 to $154 in a research report sent to investors on Friday morninghe brokerage currently has a neutral rating on the transportation companys
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