Bank of America, National Association

100 North Tryon St
Charlotte, NC 28202

Overview

General Bank Information

FDIC Insured Yes
FDIC Certificate # 3510
Date Established 1904
Assets $1,705.93 billion
Loans $887.46 billion
Deposits $1,349.24 billion
Capital $206.99 billion

Bank of America, National Association is an FDIC insured institution located in Charlotte, NC. It was founded in 1904 and has approximately $1705.93 billion in assets. Customers can open an account at one of its 5,098 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

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?

The top three loan types in Bank of America, National Association’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Credit Card Loans.

Compared to other banks in North Carolina, Bank of America, National Association has a significantly higher percent of Credit Card Loans, 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.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 27.30
Multifamily
Mortgages
0.67
Credit Card Loans 10.23
Consumer Auto Loans 4.49
Small Business Loans 0.51
Construction and Development Loans 1.01
Commercial Real Estate 6.65
Commercial and Industrial Loans 28.96
Farm Loans 0.07

Savings Rates

Your Current Location: Virginia, VA 20146

CD Rates APY MIN MAX
3 Mo CD 10K
0.03% $10,000 $24,999 Learn MoreShow Less
3 Mo CD 100K
0.03% $100,000 $499,999 Learn MoreShow Less
6 Mo CD 10K
0.03% $10,000 $24,999 Learn MoreShow Less
6 Mo CD 100K
0.03% $100,000 $499,999 Learn MoreShow Less
Savings Rates APY MIN MAX
Savings 2.5K
0.01% $1 - Learn MoreShow Less
Fixed IRA Rates APY MIN MAX
Fixed IRA 0K
0.05% $1 $9,999 Learn MoreShow Less
Special: 12 Mo FIRA
0.07% $2,000 - Learn MoreShow Less
Variable IRA Rates APY MIN MAX
Var IRA 0K
0.03% $1 - Learn MoreShow Less
MM Rates APY MIN MAX
MM 10K
0.03% $1 - Learn MoreShow Less
MM2.5K
0.03% $2,500 $9,999 Learn MoreShow Less
MM10K
0.03% $10,000 $24,999 Learn MoreShow Less
MM25K
0.03% $25,000 $49,999 Learn MoreShow Less
Int Checking Rates APY MIN MAX
Int Ckg 0K
0.01% $1 $49,999 Learn MoreShow Less
Checking Rates APY MIN FEE
Bank of America Core Checking™ 0.00% $1,500 $12.00 Learn MoreShow Less
Bank of America Interest Checking™ Account 0.02% $10,000 $25.00 Learn MoreShow Less

Loan Rates

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment
Auto Loan Rates APR Rate Monthly Payment
3 Year 2.59% 2.59% $722.52 Learn MoreShow Less
4 Year 2.59% 2.59% $548.84 Learn MoreShow Less
5 Year 2.59% 2.59% $444.68 Learn MoreShow Less
Refinance Mortgage Rates APR Rate Monthly Payment
Purchase Mortgage Rates APR Rate Monthly Payment

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.

Branches

Bank of America, National Association branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Ashburn,Virginia


Bank Of America, National Association Locations

Financial Details

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. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Bank of America, National Association U.S. Bank Average
5.64% 8.45

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 June 30, 2017, Bank of America, National Association had $11,968,000,000 in non-current loans and $314,000,000 in owned real estate. To cover these potential losses it had $206,985,000,000 in equity and $10,686,000,000 in loans loss reserves. That gives it a Texas Ratio of 5.64%. 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
Bank of America, National Association U.S. Bank Average
10.68% 8.58

Bank of America, National Association has a Return on Equity of 10.68% versus the BestCashCow average of 8.58. 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.

Capitalization
Bank of America, National Association U.S. Bank Average
12.13% 12.11

Bank of America, National Association has a Capitalization of 12.13% versus the BestCashCow average of 12.11. 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 June 30, 2017, Bank of America, National Association had assets of $1,705,928,000,000, loans of $887,460,000,000, and deposits of $1,349,236,000,000. 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.

Frequently Asked Questions About Bank of America

Branches and Savings

Is Bank of America FDIC insured?

Yes. It is covered under FDIC Certificate #3510.

Why does Bank of America pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Bank of America CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Bank of America a commercial bank?

Yes

Where are Bank of America locations?

See branch locations nearby.

Is Bank of America open on Saturdays?

Is Bank of America open on Sundays?

What time does Bank of America open?

What time does Bank of America close?

Are Bank of America ATMs Open 24/7?

Do Bank of America ATMs accept cash deposits?

Can Bank of America customers use other ATMs?

Do Bank of America branches have notaries?

Will Bank of America notarize my document?

What address for Bank of America should I put for incoming ACH transfers?

Will the Bank of America branch print checks?

Do Bank of America checks expire?

Does Bank of America require US citizenship to open account?

Can Bank of America close my account?

Does Bank of America Report to credit bureaus?

If you apply for a credit card with Bank of America, you should expect that the bank will check with and report to all three major credit rating bureaus.

Does Bank of America Use Equifax?

Yes

What is Bank of America's ACH Routing Number?

21000322

What is Bank of America's SWIFT code?

Bank of America's SWIFT code BOFAUS3N should be used for incoming wires in U.S. dollars. Bank of America's SWIFT code BOFAUS6S should be used for incoming wires in foreign currency.

Products

Does Bank of America offer mortgages?

Compare mortgage rates here.

Does Bank of America offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Bank of America offer personal loans?

Compare personal loan rates here.

Does Bank of America offer student loans?

Will Bank of America cash a check?

Will Bank of America redeem a savings bond?

Does Bank of America cash savings bonds?

Will Bank of America cash money orders?

Can Bank of America issue a money order?

Does Bank of America do currency exchange?

Are Bank of America credit cards good?

See the best travel rewards cards here.

Do Bank of America points expire?

How do Bank of America Travel Rewards work?

Background on The Bank

Who owns Bank of America?

Bank of America is a publicly listed company trading on the NYSE under the ticker 'BAC'.

How long has Bank of America been around?

Can Bank of America transfer to other banks?

Can Bank of America transfer to Chase?

Does Bank of America have quick pay?

Does Bank of America accept rolled coins?

Will Bank of America accept loose change?

Where is Bank of America headquarters?

Charlotte, North Carolina

Why Bank of America Merrill Lynch?

Where is Bank of America stadium?

Does Bank of America drug test?

Customer Reviews for Bank of America, National Association


  • Thomas777999

    October 24, 2017 |

    Overall, BofA offers accessible products with a high tech mobile app and online banking platform. With their large network of ATMs and branches, you'll likely be able to easily access cash in most states. BofA is one of the "big four," meaning that you're not going to get small town personalized service unless you're a high net worth private banking client. You may have to wait in line or on the phone. Both of these things are not indicative of poor customer service. BofA customer service is decent, I personally have never had any issues with them. BofA is a good bank for those that know how to handle their money and don't plan or expect to overdraft. When I see complaints about BofA, it seems to be coming from the type of people that struggle with this. However, my biggest gripe is that they got rid of their online chat platform, which seems to be counter intuitive. Also, they could offer a middle of the road account with some benefits. Instead of a basic checking with no benefits or interest checking which requires a high balance for little benefit.

  • Coco

    May 30, 2017 |

    Very poor customer service

  • Larry Sweat

    February 26, 2015

    I own a 3/2 brick home built in 2006 in North Richland Hills, TX near Fort Worth that has a tax appraised value of $196,000. I currently have a single mortgage with a balance of $46,000. I will have this mortgage paid off within 12 months because I am paying at an accelerated monthly amount of $5000. My credit score is 806. Can you offer me a 3.93% HELOC for $75,000 that is locked for the first 24 months of the note which will not vary more than 2% per year after the first 24 months and can I pay interest only for the first 24 months?

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