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9. Bank of America Corp.
Bank of America Corp.
Get Quote: BAC
Financials: Latest Results
Rank: 9 (Previous rank: 9)
Compare tool: Bank of America Corp. vs. Top 10
CEO: Kenneth D. Lewis
Address: 100 N. Tryon St.
Charlotte, NC 28255
Phone: 704-386-5681
Website: www.bankofamerica.com
Bank of America wasn't hit quite as hard by the credit crisis as other financial institutions in 2007. But it did have the misfortune of taking a $2 billion stake in Countrywide, the nation's biggest subprime lender, in August.

It also took more than $5.5 billion in writedowns on mortgage-backed securities in the second half of the year.

This past January, CEO Ken Lewis agreed to buy Countrywide for $4 billion - although as the extent of Countrywide's woes becomes more apparent, it's not clear if the deal will be completed. If the companies do merge, they will control 25% of the U.S. loan market.

Revenues 119,190.0 1.9
Profits 14,982.0 -29.1
Assets 1,715,746.0 —
Stockholders' equity 146,803.0 —
Market value (3/28/2008) 169,115.7 —
Revenues 12.6
Assets 0.9
Stockholders' equity 10.2
2007 $ 3.30
% change from 2006 -28.1
1997-2007 annual growth rate % 4.7
2007 -18.7
1997-2007 annual rate 7.1
1 Citigroup 8 159,229.0
2 Bank of America Corp. 9 119,190.0
3 J.P. Morgan Chase & Co. 12 116,353.0
4 Wachovia Corp. 38 55,528.0
5 Wells Fargo 41 53,593.0
6 U.S. Bancorp 122 20,308.0
7 Capital One Financial 130 18,965.5
8 Bank of New York Mellon Corp. 172 14,798.0
9 SunTrust Banks 193 13,464.6
10 State Street Corp. 225 11,818.0
11 National City Corp. 226 11,791.3
12 Regions Financial 245 10,753.8
13 BB&T Corp. 250 10,668.0
14 PNC Financial Services Group 264 9,956.0
15 Fifth Third Bancorp 307 8,494.0
16 KeyCorp 321 7,873.0
17 Marshall & Ilsley Corp. 425 5,745.2
18 Northern Trust Corp. 447 5,395.1
19 Comerica 501 4,618.0
20 M&T Bank Corp. 509 4,477.8
21 Synovus Financial Corp. 511 4,462.8
22 Popular 571 3,822.5
23 Zions Bancorp. 589 3,617.7
24 Huntington Bancshares 610 3,419.6
25 Commerce Bancorp 643 3,179.7
26 First Horizon National Corp. 650 3,165.9
27 Colonial Bancgroup 964 1,742.7
From the May 5, 2008 issue
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