CHARLOTTE, N.C. ( TheStreet) -- Now that Bank of America ( BAC) has outlined plans to repay its entire $45 billion in bailout funds, investors are wondering when other TARP-laden competitors will step up to the plate. Bank of America's stunning announcement on Wednesday turned up the pressure on counterparts like Wells Fargo ( WFC) and PNC ( PNC) that still have tens of billions of dollars in TARP capital. But as the biggest bank in the country, which received one of the biggest bank bailouts, Bank of America's repayment plan and new capital levels also provide something of a roadmap for smaller competitors and their investors. It came as little surprise that Bank of America would need to raise fresh funds from the market to accomplish its goal. The bank will issue $18.8 billion worth of new stock in a public offering, though the TARP repayment will also consume $26.2 billion in excess liquidity. Bank of America will also issue $1.7 billion in common stock to employees and sell $4 billion worth of assets. Bank of America's offering will dilute existing common stock investors by roughly 10% and requires shareholder approval to raise the amount of outstanding shares above its current 10 billion level. The sheer size of the bank's float may provide attractive supply-and-demand fundamentals for investors looking to get a piece of Bank of America at a greater discount. However, given the positive news, its stock was up 3.2% in premarket action at $16.15 and rose in European trading as well.