Bank of America Corp
BRIEF: For the three months ended 31 March 2013, Bank of America Corp interest income decreased 9% to $14.1B. Net interest income after loan loss provision increased 6% to $8.95B. Net income applicable to common stockholders increased from $327M to $1.11B. Net interest income after loan loss provision reflects Global Markets segment increase of 20% to $1.11B, Consumer Real Estate Services segment increase of 56% to $408M.
Common Stock $.01 Par, 04/11, 12.8B auth., 10,132,963,189 issd. Insiders control 0.16%. PO 2/92, 8.05M shs @ $45 by Merrill Lynch. Pref. Stk $.01 Par, 100M auth., 3,943,660 issd. (conv. @ $42.50/.84 sh. of Common). 8/04, 2/97, 2-for-1 splits. 1/06, Co. acquired MBNA Corp. @ 0.5009 shares & $4.125/sh (628,671,365 sh issd.)
Bank of America Corporation (Bank of America)is a bank holding company, and a financial holding company. Bank of America is a financial institution, serving individual consumers, small and middle market businesses, corporations and Governments with a range of banking, investing, asset management and other financial and risk management products and services. Through its banking and various nonbanking subsidiaries throughout the United States and in international markets, the Company provides a range of banking and nonbanking financial services and products through five business segments: Consumer & Business Banking (CBB), Consumer Real Estate Services (CRES), Global Banking, Global Markets and Global Wealth & Investment Management (GWIM), with the remaining operations recorded in all Other. In February 2013, announced the sale of International Wealth Management Business Outside the United States to Julius Baer Group. Effective March 20, 2013, it acquired 10.4% interest in Freenet AG.