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: 2016 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2016 10-K (Filed: Feb 23, 2017) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | |
| Interest income | |||
| Loans and leases | $ 33,228 | 31,918 | 34,145 |
| Debt securities | 9,167 | 9,178 | 9,010 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 1,118 | 988 | 1,039 |
| Trading account assets | 4,423 | 4,397 | 4,561 |
| Other interest income | 3,121 | 3,026 | 2,959 |
| Total interest income | 51,057 | 49,507 | 51,714 |
| Interest expense | |||
| Deposits | 1,015 | 861 | 1,080 |
| Short-term borrowings | 2,350 | 2,387 | 2,579 |
| Trading account liabilities | 1,018 | 1,343 | 1,576 |
| Long-term debt | 5,578 | 5,958 | 5,700 |
| Total interest expense | 9,961 | 10,549 | 10,935 |
| Net interest income | 41,096 | 38,958 | 40,779 |
| Noninterest income | |||
| Card income | 5,851 | 5,959 | 5,944 |
| Service charges | 7,638 | 7,381 | 7,443 |
| Investment and brokerage services | 12,745 | 13,337 | 13,284 |
| Investment banking income | 5,241 | 5,572 | 6,065 |
| Trading account profits | 6,902 | 6,473 | 6,309 |
| Mortgage banking income | 1,853 | 2,364 | 1,563 |
| Gains on sales of debt securities | 490 | 1,138 | 1,481 |
| Other income | 1,885 | 1,783 | 3,026 |
| Total noninterest income | 42,605 | 44,007 | 45,115 |
| Total revenue, net of interest expense | 83,701 | 82,965 | 85,894 |
| Provision for credit losses | 3,597 | 3,161 | 2,275 |
| Noninterest expense | |||
| Personnel | 31,616 | 32,868 | 33,787 |
| Occupancy | 4,038 | 4,093 | 4,260 |
| Equipment | 1,804 | 2,039 | 2,125 |
| Marketing | 1,703 | 1,811 | 1,829 |
| Professional fees | 1,971 | 2,264 | 2,472 |
| Amortization of intangibles | 730 | 834 | 936 |
| Data processing | 3,007 | 3,115 | 3,144 |
| Telecommunications | 746 | 823 | 1,259 |
| Other general operating | 9,336 | 9,887 | 25,844 |
| Total noninterest expense | 54,951 | 57,734 | 75,656 |
| Income before income taxes | 25,153 | 22,070 | 7,963 |
| Income tax expense | 7,247 | 6,234 | 2,443 |
| Net income | 17,906 | 15,836 | 5,520 |
| Preferred stock dividends | 1,682 | 1,483 | 1,044 |
| Net income applicable to common shareholders | 16,224 | 14,353 | 4,476 |
| Per common share information | |||
| Earnings (in dollars per share) | 1.58 | 1.37 | 0.43 |
| Diluted earnings (in dollars per share) | 1.50 | 1.31 | 0.42 |
| Dividends paid (in dollars per share) | 0.25 | 0.20 | 0.12 |
| Average common shares issued and outstanding (in thousands) (in shares) | 10,284,147 | 10,462,282 | 10,527,818 |
| Average diluted common shares issued and outstanding (in thousands) (in shares) | 11,035,657 | 11,213,992 | 10,584,535 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2016 | |
| 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 |