What banks did Bank of America buy out?
Throughout its aggressive historical expansion, Bank of America has completed several monumental mergers and corporate buyouts that transformed it into a national financial powerhouse. Most notably, the modern entity was formed via the massive 1998 merger between NationsBank and the original Bank of America. Subsequent high-profile corporate buyouts executed by Bank of America include FleetBoston Financial (acquired in 2004 for $47 billion), credit card giant MBNA (acquired in 2006 for $35 billion), LaSalle Bank (acquired from ABN AMRO in 2007 for $21 billion), Countrywide Financial (acquired in 2008), and the landmark emergency acquisition of investment brokerage giant Merrill Lynch in late 2008.
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The United States banking sector contains numerous independent financial institutions, state-chartered banks, and community corporate entities operating under the common name "First State Bank.