- Business
- Bank of America Corporation (NYSE: BAC), headquartered in Charlotte, North Carolina, operates as one of the world's largest financial institutions with roots tracing back to 1904 through its predecessor Bank of Italy; the modern entity formed via the 1998 merger of NationsBank and BankAmerica. The company provides a comprehensive range of banking, investment, asset management, and risk management products and services to individual consumers, small- and middle-market businesses, large corporations, institutional investors, and governments primarily in the United States with additional operations in Europe, Asia, and other regions. Core offerings span consumer banking including deposit accounts, credit and debit cards, mortgages, home equity loans, automotive and personal loans, and small business services; global wealth and investment management through Merrill Lynch Wealth Management, Merrill Edge self-directed investing, and private banking brokerage services; global banking encompassing corporate and commercial real estate lending, investment banking, trade finance, and commitment facilities; and global markets featuring securities trading, derivatives, market-making, and research for institutional clients.
In recent developments, Bank of America invests over $5 billion since 2016 in its financial center network, planning to open more than 150 new locations across over 60 U.S. markets by end-2027 including 40 in 2025 and 70 in 2026, with expansions into states such as Idaho, Alabama, Louisiana, and Ohio; the bank also announced senior leadership changes in September 2025 appointing co-presidents to drive market share growth, AI innovation, and operational excellence, alongside a raised return target and long-term alliance with the U.S. Soccer Federation as official banking partner.