About Bank of America Corporation (BAC)

Company Description:

Bank of America Corporation, known as Bank of America or BofA, is a multinational banking and financial services corporation. It is one of the world's leading financial institutions, offering a wide range of banking, investing, asset management, and other financial and risk management products and services.

The company was founded by Amadeo Pietro Giannini on October 17, 1904, and is currently headquartered in Charlotte, North Carolina, United States.

Main Product(s):

Bank of America provides a diverse range of financial services including consumer banking, wealth management, corporate banking, and investment banking. Its primary products include deposit accounts, mortgage loans, credit cards, and investment services.

Short History of Bank of America Corporation:

• October 1904 – Founded as the Bank of Italy in San Francisco by Amadeo Giannini.
• 1928 – Merged with Bank of America, Los Angeles.
• 1930 – Renamed to Bank of America.
• 1958 – Launched the BankAmericard, which would become Visa.
• 1998 – Merged with NationsBank, moving headquarters to Charlotte, NC.
• 2008 – Acquired Merrill Lynch during the financial crisis.
• 2023 – Continues to focus on expanding its digital banking services and enhancing customer experience.