Key Developments: Bank of America Corp (BAC.N)

BAC.N on New York Stock Exchange

16.01USD
2 Mar 2015
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Latest Key Developments (Source: Significant Developments)

Bank of America Corp in $300 mln Fontainebleau Las Vegas settlement - Reuters
Wednesday, 25 Feb 2015 08:00pm EST 

Bank of America Corp:Says it reached a $300 mln settlement of a lawsuit brought by lenders that helped finance construction of the failed Fontainebleau Resort and Casino in Las Vegas, which filed for bankruptcy protection in June 2009 - Reuters.The company, which had arranged a $1.85 bln credit facility, was accused of funneling money into Fontainebleau long after it should have known that financial prospects for the projected $2.9 bln project were worsening.Lenders said the company kept making such disbursements even after it became plain that the global financial crisis was imperiling the project.Bank of America ultimately stopped funding construction after discovering alleged cost overruns.  Full Article

Bank of America Corp declares quarterly stock dividends
Tuesday, 10 Feb 2015 03:30pm EST 

Bank of America Corp:Declared a regular quarterly cash dividend on Bank of America common stock of $0.05 per share.Payable March 27 to shareholders of record as of March 6.Also declared a regular quarterly cash dividend of $1.75 per share on the 7 percent Cumulative Redeemable Preferred Stock, Series B.Payable April 24 to shareholders of record as of April 10.  Full Article

Bank of America Corp laying off 200 plus in Norfolk - AP
Tuesday, 3 Feb 2015 01:36pm EST 

Bank of America Corp:Planning to lay off more than 200 workers in Norfolk in a division that handles troubled mortgages - The Associated Press.The company recently filed a notice with state and local officials alerting them to the planned staff reduction in the Legacy Asset Servicing division.Layoffs are expected to take place March 29.  Full Article

Bank of America Corp declares quarterly dividend on Series L preferred stock
Wednesday, 17 Dec 2014 01:28pm EST 

Bank of America Corp:Authorized regular quarterly cash dividend of $18.125 per share on 7.25 pct Non-Cumulative Perpetual Convertible Preferred Stock, Series L.Dividend is payable on Jan. 30, 2015 to shareholders of record as of Jan. 1, 2015.  Full Article

Bank of America declares quarterly dividends
Thursday, 23 Oct 2014 03:13pm EDT 

Bank of America Corp:Declares a regular quarterly cash dividend on Bank of America common stock of $0.05 per share, payable Dec. 26 to shareholders of record as of Dec. 5.Says the board also declared a regular quarterly cash dividend of $1.75 per share on the 7 pct Cumulative Redeemable Preferred Stock, Series B.Payable Jan. 23, 2015 to shareholders of record as of Jan. 9, 2015.  Full Article

Bank of America declares preferred dividends
Thursday, 9 Oct 2014 03:00pm EDT 

Bank of America Corp:Authorized dividends on preferred stock.A quarterly cash dividend of $0.38775 per depositary share on the 6.204 percent Non-Cumulative Preferred Stock, Series D, is payable on Dec. 15 to shareholders of record as of Nov. 28.A quarterly cash dividend of $0.25556 per depositary share on the Floating Rate Non-Cumulative Preferred Stock, Series E, is payable on Nov. 17 to shareholders of record as of Oct. 31.A quarterly cash dividend of $1,011.11111 per share on the Floating Rate Non-Cumulative Preferred Stock, Series F, is payable on Dec. 15 to the shareholder of record as of Nov. 28.A quarterly cash dividend of $1,011.11111 per share on the Adjustable Rate Non-Cumulative Preferred Stock, Series G, is payable on Dec. 15 to the shareholder of record as of Nov. 28.A quarterly cash dividend of $0.4140625 per depositary share on the 6.625 percent Non-Cumulative Preferred Stock, Series I, is payable on Jan. 2, 2015 to shareholders of record as of Dec. 15.A semi-annual cash dividend of $40.625 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series M, is payable on Nov. 17 to shareholders of record as of Oct. 31.A semi-annual cash dividend of $26.00 per depositary share on the Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U, is payable on Dec. 1 to shareholders of record as of Nov. 15.  Full Article

Bank of America elects Brian Moynihan as Chairman of the Board of Directors
Wednesday, 1 Oct 2014 04:45pm EDT 

Bank of America Corp:Elected Chief Executive Officer Brian Moynihan as Chairman, succeeding Charles Holliday, effective immediately.  Full Article

Bank of America Corp declares quarterly dividend on series L preferred stock
Tuesday, 16 Sep 2014 11:10am EDT 

Bank of America Corp:Authorizes a regular quarterly cash dividend of $18.125 per share on the 7.25 percent Non-Cumulative Perpetual Convertible Preferred Stock, Series L.Payable on Oct. 30 to shareholders of record as of Oct. 1.  Full Article

Huntington Bancshares expands in Michigan with finalization of its acquisition of 24 Bank of America Branches
Tuesday, 16 Sep 2014 06:00am EDT 

Huntington Bancshares Inc:Says through its subsidiary Huntington National Bank, completes acquisition of 24 Bank of America branches in Michigan, Huntington.  Full Article

Bank of America Corp reaches comprehensive settlement with U.S. department of justice and state attorneys general to resolve mortgage-related litigations and investigations
Thursday, 21 Aug 2014 09:04am EDT 

Bank of America Corp:Reached comprehensive settlement with U.S. Department of Justice (DoJ), certain federal agencies and six states.Claims relate primarily to conduct that occurred at Countrywide and Merrill Lynch prior to Bank of America's acquisition of those entities.Bank of America will pay total of $9.65 bln in cash and provide about $7.0 bln worth of consumer relief.Cash portion consists of $5.02 bln civil monetary penalty and $4.63 bln in compensatory remediation payments.Says settlement expected to reduce Q3-14 Pretax earnings by $5.3 bln and negatively impact EPS by about $0.43 per Share.  Full Article

1st Circuit revives bisexual worker's claims against Bank of America

- A U.S. appeals court has reinstated claims against Bank of America Corp by a former call center employee who says the harassment she faced when she began dating a female coworker led to her termination.

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