USPages > Business Directory > Money Center Banks > Bank of America Corporation

Bank of America Corporation

Industry: Money Center Banks

Fortune Rank: 5

For the nine months ended 30 September 2005, Bank of America Corporation's interest income rose 37% to $42.65B. Net interest income after LLP rose 9% to $20.68B. Net income applicable to Common rose 27% to $13.10B. Net interest income reflects higher earning asset balances and yields, partially offset by lower net interest spreads and margins. Net income also reflects a sharp rise in non-interest income due, in part, to an increase in equity investment gains.

Bank of America Corporation is a bank holding company that conducts its operations though its bank and non-bank subsidiaries. The Company provides a range of financial services and products throughout the United States and in selected international markets. The Company provides a range of financial services and products throughout the United States and in selected international markets. As of December 31, 2004, Bank of America operates its banking activities primarily under three charters: Bank of America, National Association (Bank of America, N.A.), Bank of America, N.A. (USA) and Fleet National Bank. The Company conducts its business through 25,000 locations in 44 states, the District of Columbia and 34 foreign countries. On April 1, 2004, the Corporation completed its merger with FleetBoston Financial Corporation. In October 2004, the Company acquired National Processing, Inc., a public company, which is 83% owned by National City Corporation.

Bank of America Corporation

Bank of America Corporation is a Fortune 500 company. In 2010 Bank of America Corporation was ranked number 5 on the Fortune 500 list, making it the 5th largest company in the United States when judged by revenue.

Bank of America Corporation achieved revenue of $150,450.00 million in 2010 and earned a profit of $6,276.00 million.

Bank of America Corporation' rank improves

The company ranking improved in 2010, moving up the Fortune 500 list to 5th compared to 11th in 2009. This was based on its 2009 revenue of $113,106 million (a change of 37 million compared to 2010) and profits of $4,008 million (a change of $2 million compared to 2009).

Another point of view

To many investors, profits are more important than the revenue a company earns. If the Fortune 500 was ranked by profits instead of revenue then Bank of America Corporation would be ranked 22nd rather than 5th due to its profits of $6,276 in 2010.

* US$ Million

• Address
  • Bank of America Corporation
    100 N. Tryon St
    Charlotte
    NC
    28255
• Contact Details
  • Phone: 704-386-8486
  • Fax: 704-386-6699
  • Website: www.bankofamerica.com
  • Stock Symbol: BAC

• Next Page: the 6th ranked company ConocoPhillips
• Previous Page: the 4th ranked company General Electric Company