Bank of America

High school (ages 12+)
People & Society

Name:

Date:

Step 1 · Read the article

Open the article and read it at the level above. Then answer the questions below in your own words.

https://smallwhale.org/articles/bank-of-america

Write what each word means, using the article.

Do not copy the article. Write two things you learned, the way you would explain them to a friend.

Answers below are taken from the article’s stored facts, so they match what the student read.

1. What is the corporate structure?Multinational investment bank and financial services holding company
2. What is the founding antecedents?Massachusetts Bank (chartered 1784), Bank of Italy (founded 1904)
3. How did Bank of America become so big?It grew by merging with other banks, like when NationsBank bought BankAmerica in 1998 for $62 billion, and later buying Merrill Lynch in 2008 and 2009. These mergers added many customers and services.
4. Where can people find Bank of America branches and ATMs?Bank of America has 4,600 banking centers and 16,000 ATMs across all 50 U.S. states, and its commercial banking branches are in more than 40 countries around the world.

Joint-Stock Owned Bank: A bank where ownership is divided into shares held by multiple investors, rather than a single owner.
Systemically Important Financial Institution (SIFI): A financial institution whose failure could trigger a severe financial crisis, requiring heightened regulation.
Bulge Bracket: Refers to the largest and most prestigious investment banks globally, known for handling major financial deals.
Net Interest Margin: The difference between the interest income a bank generates and the interest it pays out to its lenders.