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Looking For A Safe “Bank” For Your Money?

Posted by 104Inc.com on November 25, 2008

Overall Messages

  • Bank of America is one of the world’s largest and strongest financial institutions, by many indicators.
  • We believe it has a strong balance sheet and liquidity, a diverse earnings stream, leading positions in key businesses and a world-leading brand.
  • Even in these challenging and uncertain times, they have continued to meet the needs of their customers and clients while taking steps that should significantly enhance earnings capabilities when economic and financial markets conditions improve, and they will.
  • Because of the sheer scale and diversity of their businesses, the company is better able to withstand market shocks than many of their peers.
  • The advantages of comprehensive financial solutions, geographic and earnings diversity, liquidity and capital strength position them to compete in the marketplace.

Proof Points

  • Strong balance sheet and liquidity.
    • More U.S. deposits than any other bank, with total deposits of nearly $874B as of September 30, 2008.
    • Bank of America and Bank of America, N.A. have high long-term bond ratings from the major credit rating agencies. Bank of America, N.A. (long term): Moody’s, Aaa; Standard & Poor’s, AA. BAC (long term senior): Moody’s, Aa2; Standard & Poor’s, AA-.
    • Tier One Capital Ratio exceeding 9% (assuming acquisition of Merrill and after TARP money).
    • Third quarter results. Net income of $1.18B, even after absorbing losses associated with market turbulence and several one-time charges as well as continued high credit costs. With year-to-date net profits of $5.8B, Bank of America has been one of the most profitable banking companies in the world while operating in a very difficult environment.
  • Leading positions: Largest retail bank in the U.S., serving 1 in 2 households. Largest commercial bank in the U.S., serving 1 in 3 companies with revenues of $2.5MM to $2B. Relationships with 99 percent of the U.S. Fortune 500 companies and 83 percent of the Fortune Global 500.
  • Most admired financial services brand in the world by the Financial Times.
  • Open for business and planning for the future.
    • Even in this challenging environment, we are taking advantage of key growth opportunities, using our continued strength and stability.
    • We continue lending to those who need and can afford credit.
      • Business lending remains strong and we have continued making loans to states and municipalities in a time of extraordinary uncertainty.
      • In just the three months since the merger with Countrywide was finalized, we have helped more than 250,000 Americans purchase a home or save money on the home they already own.
    • The Countrywide and Merrill Lynch acquisitions will expand our ability to deliver critical financial services to millions of Americans – including mortgages and financial planning –and help stabilize the financial markets.
    • Our home retention programs will help up to 630,000 borrowers keep their homes, by modifying more than $100B in current home loans.

To Find the nearest Bank of America branch in your area please visit http://104Banks.com

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