UPDATE 1-Bank of America board loses three more members

NEW YORK, July 31 - Bank of America Corp on Friday said three directors had resigned, the latest in a series of departures at the bank at a time when it is shaking up its board at the behest of the government.

The largest U.S. bank said John Collins, who runs a Boston-based venture capital firm; William Barnet, who runs a real estate investment firm; and Gary Countryman, chairman emeritus of Liberty Mutual Group, had all resigned.

The resignations were not the result of any disagreement with the company or its management, the bank said in a regulatory filing.

Bank of America has taken $45 billion of federal bailout money, including $20 billion to help absorb Merrill Lynch & Co, the investment bank it acquired on Jan. 1.

A Bank of America spokeswoman could not immediately be reached for comment.

The bank's shares, which gained 5.9 percent in the main trading session, were little changed, down 4 cents at $14.73 in after-hours, electronic trading.