DALLAS, Feb. 23, 2010 (GLOBE NEWSWIRE) -- BeaconEquity.com announces an investment report featuring financial company Bank of America Corp. (NYSE:BAC). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
It is available at: http://www.beaconequity.com/i/BAC
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Bank of America Corp. (BAC) is a bank holding company and a financial holding company. Through its banking subsidiaries and various non-banking subsidiaries throughout the United States and in selected international markets, it provides a diversified range of banking and non-banking financial services and products through three business segments: Global Consumer and Small Business Banking, Global Corporate and Investment Banking and Global Wealth and Investment Management. On January 1, 2009, BAC announced the purchase of Merrill Lynch & Co., Inc. On July 1, 2008, BAC completed the acquisition of Countrywide Financial Corp.
In the report, the analyst notes:
"BAC reported full-year 2009 net income of $6.3 billion, compared with net income of $4.0 billion in 2008. Including preferred stock dividends and the negative impact from the repayment of the U.S. government's $45 billion preferred stock investment in the Company under the Troubled Asset Relief Program (TARP), income applicable to common shareholders was a net loss of $2.2 billion, or $0.29 per diluted share.
"BAC Merrill Lynch and IdenTrust recently announced plans to bring an electronic bank account management (eBAM) system to the bank's corporate clients, enabling them to open accounts, close accounts and modify bank mandates online. BAC Merrill Lynch envisions using the Trust Prime eBAM system from IdenTrust and expects to join the IdenTrust Trust Network ..."
To read the entire report visit: http://www.beaconequity.com/i/BAC
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