Bank of America Corporation Preferred Stock (BACRP)

Overview

Bank of America Corp., a stalwart in the banking and finance industry, was founded by Amadeo Peter Giannini in 1904. With its headquarters nestled in Charlotte, NC, this bank and financial holding company has extended its reach over the years, offering a broad spectrum of banking and nonbank financial services. It operates through a complex structure divided into several segments, including Consumer Banking, Global Wealth and Investment Management (GWIM), Global Banking, Global Markets, and All Other. Each segment is tailored to meet specific client needs, from individual consumers to large institutions, showcasing Bank of America's commitment to providing diverse and comprehensive financial solutions.

Products and Services

• Consumer Banking:

This segment caters to consumers and small businesses, offering a range of credit, banking, and investment products and services. From checking and savings accounts to loans and credit cards, Consumer Banking is designed to meet everyday financial needs.

• Global Wealth and Investment Management (GWIM):

GWIM focuses on delivering tailored solutions for clients through a full suite of investment management, brokerage, banking, and retirement products. This segment aims to address the unique financial goals and challenges of clients, providing personalized advice and strategies.

• Global Banking:

Targeting larger clients, the Global Banking segment offers lending-related products and services, integrated working capital management and treasury solutions. Moreover, it provides underwriting and advisory services, emphasizing Bank of America's role in corporate finance and capital markets.

• Global Markets:

This segment specializes in sales and trading services, along with research for institutional clients across fixed-income, credit, currency, commodity, and equity businesses. It supports investment strategies and risk management, highlighting Bank of America's strengths in financial markets.

• All Other:

The All Other segment includes a variety of activities and investments, such as asset and liability management, equity investments, non-core mortgage loans and servicing activities, and the net impact of periodic revisions to the mortgage servicing rights (MSR) valuation model. It also covers liquidating businesses and residual expense allocations, providing insight into the diverse, yet less prominent, facets of Bank of America's operations.