10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
BANK OF AMERICA CORP /DE/ | |||
Ticker: BAC Fiscal Year: 2010 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2010 10-K (Filed: Feb 25, 2011) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2010 | Dec 31, 2009 | Dec 31, 2008 | |
| Interest income | |||
| Loans and leases | $ 50,996 | 48,703 | 56,017 |
| Debt securities | 11,667 | 12,947 | 13,146 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 1,832 | 2,894 | 3,313 |
| Trading account assets | 6,841 | 7,944 | 9,057 |
| Other interest income | 4,161 | 5,428 | 4,151 |
| Total interest income | 75,497 | 77,916 | 85,684 |
| Interest expense | |||
| Deposits | 3,997 | 7,807 | 15,250 |
| Short-term borrowings | 3,699 | 5,512 | 12,362 |
| Trading account liabilities | 2,571 | 2,075 | 2,774 |
| Long-term debt | 13,707 | 15,413 | 9,938 |
| Total interest expense | 23,974 | 30,807 | 40,324 |
| Net interest income | 51,523 | 47,109 | 45,360 |
| Noninterest income | |||
| Card income | 8,108 | 8,353 | 13,314 |
| Service charges | 9,390 | 11,038 | 10,316 |
| Investment and brokerage services | 11,622 | 11,919 | 4,972 |
| Investment banking income | 5,520 | 5,551 | 2,263 |
| Equity investment income | 5,260 | 10,014 | 539 |
| Trading account profits (losses) | 10,054 | 12,235 | (5,911) |
| Mortgage banking income | 2,734 | 8,791 | 4,087 |
| Insurance income | 2,066 | 2,760 | 1,833 |
| Gains on sales of debt securities | 2,526 | 4,723 | 1,124 |
| Other income (loss) | 2,384 | (14) | (1,654) |
| Other-than-temporary impairment losses on available-for-sale debt securities: | |||
| Total other-than-temporary impairment losses | (2,174) | (3,508) | (3,461) |
| Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income | 1,207 | 672 | |
| Net impairment losses recognized in earnings on available-for-sale debt securities | (967) | (2,836) | (3,461) |
| Total noninterest income | 58,697 | 72,534 | 27,422 |
| Total revenue, net of interest expense | 110,220 | 119,643 | 72,782 |
| Provision for credit losses | 28,435 | 48,570 | 26,825 |
| Noninterest expense | |||
| Personnel | 35,149 | 31,528 | 18,371 |
| Occupancy | 4,716 | 4,906 | 3,626 |
| Equipment | 2,452 | 2,455 | 1,655 |
| Marketing | 1,963 | 1,933 | 2,368 |
| Professional fees | 2,695 | 2,281 | 1,592 |
| Amortization of intangibles | 1,731 | 1,978 | 1,834 |
| Data processing | 2,544 | 2,500 | 2,546 |
| Telecommunications | 1,416 | 1,420 | 1,106 |
| Other general operating | 16,222 | 14,991 | 7,496 |
| Goodwill impairment charges | 12,400 | ||
| Merger and restructuring charges | 1,820 | 2,721 | 935 |
| Total noninterest expense | 83,108 | 66,713 | 41,529 |
| Income (loss) before income taxes | (1,323) | 4,360 | 4,428 |
| Income tax expense (benefit) | 915 | (1,916) | 420 |
| Net income (loss) | (2,238) | 6,276 | 4,008 |
| Preferred stock dividends and accretion | 1,357 | 8,480 | 1,452 |
| Net income (loss) applicable to common shareholders | (3,595) | (2,204) | 2,556 |
| Per common share information | |||
| Earnings (loss) | (0.37) | (0.29) | 0.54 |
| Diluted earnings (loss) | (0.37) | (0.29) | 0.54 |
| Dividends paid | 0.04 | 0.04 | 2.24 |
| Average common shares issued and outstanding (in thousands) | 9,790,472 | 7,728,570 | 4,592,085 |
| Average diluted common shares issued and outstanding (in thousands) | 9,790,472 | 7,728,570 | 4,596,428 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2010 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |