Bank of America, National Association
101 S Tryon St
Charlotte, NC 28202
General Bank Information
FDIC Insured Yes
FDIC Certificate # 3510
Date Established 1904
Bank of America, National Association is an FDIC insured institution located in Charlotte, NC. It was founded in 1904 and has approximately $1524.58 billion in assets. Customers can open an account via one of its 5,399 branches.
One of the largest banks in the US by assets (along with Citigroup and JPMorgan Chase), Bank of America also boasts one of the country's most extensive branch networks with more than 5,900 locations covering some 40 states from coast to coast. Its core services include consumer and small business banking, credit cards, and asset management. In early 2009 Bank of America paid some $50 billion in stock for Merrill Lynch, which had been crippled by the global credit crisis. The acquisition of the once-mighty investment bank known as "The Bull," which has an extensive retail brokerage network, beefs up Bank of America's wealth management, investment banking, and international business
Bank of America, National Association Financial Size
For a more detailed analysis of Bank of America, National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Bank Loan Profile?
Comparison to Other Banks
|1-4 Family Residential Loans||39.29||✓|
|Credit Card Loans||0.00||✓|
|Consumer Auto Loans||4.00||✓|
|Small Business Loans||0.80||✓|
|Construction and Development Loans||1.27||✓|
|Commercial Real Estate||6.18||✓|
|Commercial and Industrial Loans||27.16||✓|
The top three loan types in Bank of America, National Association’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.
Compared to other banks in North Carolina, Bank of America, National Association has a significantly higher percent of Consumer Auto Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
Your Current Location:
New York, NY 10007
|Fixed IRA Rates||APY||Min||Max||More|
|Fixed IRA 0K||0.05%||$1||$9,999|
|Special: 9 Mo FIRA||0.04%||$2,000||-|
|Special: 12 Mo FIRA||0.07%||$2,000||-|
|Variable IRA Rates||APY||Min||Max||More|
|Var IRA 0K||0.03%||$1||-|
|Int Checking Rates||APY||Min||Max||More|
|Int Ckg 0K||0.01%||$1||$9,999|
|Bank of America Core Checking™||0.00%||$1,500||$12.00|
|Bank of America Interest Checking™ Account||0.02%||$10||$25.00|
Your Current Location:
New York, NY 10007
BestCashCow tracks mortgage, home equity, and auto loan rates. In the future, we will be adding other loan products. Please contact the lender for questions about their loan products.
|Home Equity Rates||APR||Rate||Monthly Payment||More|
|Line of Credit||3.93%||3.93%||Varies|
|Auto Loan Rates||APR||Rate||Monthly Payment||More|
Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.
Bank of America, National Association Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Bank of America, National Association. The data is provided by the FDIC. Please remember that all banks listed on BestCashCow.com are FDIC insured while all credit unions are similarly insured by the NCUA. No depositor has ever lost money while their funds have been insured by the FDIC or NCUA.
|Bank of America, National Association||U.S. Bank Average|
The Texas Ratio compares the amount of loans at risk and the amount of owned real estate with the amount a bank has on hand to cover any losses. As of September 30, 2014, Bank of America, National Association had $29,235,000,000 in non-current loans and $1,692,000,000 in owned real estate. To cover these potential losses it had $182,342,000,000 in equity and $10,492,000,000 in loans loss reserves. That gives it a Texas Ratio of 16.04%. The closer the Texas Ratio is to 100% and over, the less capital and reserves a bank has to absorb its loan losses.
|Return on Equity||7.03%||9.04%|
Bank of America, National Association has a Return on Equity of 7.03% versus the BestCashCow average of 9.04%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Bank of America, National Association has a Capitalization of 11.96% versus the BestCashCow average of 11.20%. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Bank of America, National Association Balance Sheet Analysis
As of September 30, 2014, Bank of America, National Association had assets of $1,524,575,000,000, loans of $743,108,000,000, and deposits of $1,202,846,000,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Customer Comments for Bank of America, National Association
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