Our history & heritage
The oldest parts of our company extend back 240 years. Since that time, we’ve come together from many sources to become what we are today: A company united in our purpose to help make financial lives better through the power of every connection.
Our story is all about the impact clients and communities can have and the progress they can make. And we are here to serve them, and to help them do it. This starts with a single idea for our company, across all of our businesses based on a simple question that has been core to our legacy of capabilities and service for 240 years: “What would you like the power to do?”
“ 'What would you like the power to do?' Listening to how people answer it is how we find out what matters most to them. This is why we’re here. And above all else, it’s what people want from us ”
- Brian T. Moynihan, Chief Executive Officer, Bank of America
Featured stories
Our roots
Our roots, from 1784 to 1850, are set in stories of our earliest heritage members and their roles in the evolution of a young United States. Learn about the making of the national anthem, the survival of our capital through the War of 1812, the discovery of comets, building a foundation for economic growth and more.
Do you know?
What famous waterway—financed in part by Bank of America’s heritage bank The State Bank of Albany—made New York the financial capital of the world?
Answer: The Erie Canal
The rise of industry
Between 1850 and 1900, the American Industrial Revolution sparked enormous social, political and economic advancement throughout the country. Our heritage includes stories of people who played a significant part in these events, from the making of great cities to revitalization after the Civil War to the vision of enterprising young bankers and beyond.
Do you know?
What historical event destroyed most of Chicago’s homes and businesses in 1871?
Answer: Chicago’s Great Fire
VIDEO: The making of Los Angeles into a metropolis
VIDEO: The making of Los Angeles into a metropolis Get the whole story.
The modern era
From 1900 to 1950, our country entered the modern era, a time when our heritage stories tell of rapid progress with political and economic advancements. From Hollywood filmmakers to bridge engineers to the London stage, our legacy of people in support of innovation is rich.
VIDEO: Building the most photographed bridge in the world
VIDEO: Building the most photographed bridge in the world Get the whole story.
Do you know?
What film financed by our heritage bank, Bank of Italy, was the directorial debut of Charlie Chaplin?
Answer: The Kid
Technology & innovations
In the half-century from 1950 to 2000, our heritage stories tell of people whose revelatory achievements led to technological advancement and international expansion. Learn about the advent of automated banking, the world's first electronic recording machine–accounting (ERMA) system, the development of magnetic-ink character recognition (MICR) and more.
VIDEO: Bank of America revolutionizes the banking industry
VIDEO: Bank of America revolutionizes the banking industry Get the whole story.
VIDEO: Introducing the modern credit card
VIDEO: Introducing the modern credit card Get the whole story.
Do you know?
What was the name of the first computer used in banking, created by Bank of America?
Answer: ERMA (Electronic Recording Method of Accounting)
Today
In 1998, we introduced the Bank of America brand and our iconic Flagscape logo – signifying the merger of BankAmerica and NationsBank to create the first coast-to-coast bank in the U.S. In the two decades since, we have become a global financial services company that serves one out of every two households in the U.S. and the majority of Fortune 500 companies around the world. We are driving responsible growth, and our commitment to that has resulted in record results – strong earnings with high customer and employee satisfaction.
Along the way, we have made advances in technology and in how we serve clients, helping to transform financial services. We have pioneered the use of mobile and digital capabilities to put banking in the palm of your hand, and we continue to make it more convenient with the advent of mobile check deposit, peer-to-peer payments through Zelle, and our AI-assistant Erica. We have made investing accessible and affordable through Merrill Edge, while continuing to strengthen Merrill Wealth Management. And we bring global capabilities to help companies transact, access the capital markets, and, together, to drive the economy ahead.
In November 2018, we updated our logo to reflect this contemporary brand – one that delivers both cutting-edge technology and high-touch solutions for our clients. It is a symbol of a culture of service today, but one that is always looking to what the future holds for our clients and for the communities we serve.
And so today, we recognize how we got here, and the progress we have made, but we aren’t standing still. It all comes back to why we are here: To help make financial lives better, through the power of every connection. We continue to innovate how we deliver so our clients, communities and employees have the power to do more.
- Bank of America remains our enterprise brand and also represents our banking services for people and companies.
This includes Consumer and Small Business, the Private Bank and our businesses focused on companies (Global Commercial Banking, Global Transaction Services, Business Banking, Wholesale Credit, and parts of Corporate Banking). As part of this, U.S. Trust will transition to the Bank of America brand as the Bank of America Private Bank.
- Merrill will serve as a sub-brand for our investing and wealth management offerings, representing the continuum of capabilities across wealth management, from self-directed to full-service advisory services.
Merrill Edge Self-Directed, Merrill Guided Investing, Merrill Lynch Wealth Management and Merrill Private Wealth Management (formerly our Private Banking and Investment Group) will transition to this sub-brand.
- BofA Securities will represent our institutional broker-dealer businesses, including Global Banking and Markets, Investment Banking, and Capital Markets.
Our commitment to clients remains steadfast. We deliver everything we can for our clients by deepening our relationship with each, ensuring we are helping each individual and each business, through the power of every connection we can help them make.
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