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: 2017 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2017 10-K (Filed: Feb 22, 2018) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | |
| Interest income | |||
| Loans and leases | $ 36,221 | 33,228 | 31,918 |
| Debt securities | 10,471 | 9,167 | 9,178 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 2,390 | 1,118 | 988 |
| Trading account assets | 4,474 | 4,423 | 4,397 |
| Other interest income | 4,023 | 3,121 | 3,026 |
| Total interest income | 57,579 | 51,057 | 49,507 |
| Interest expense | |||
| Deposits | 1,931 | 1,015 | 861 |
| Short-term borrowings | 3,538 | 2,350 | 2,387 |
| Trading account liabilities | 1,204 | 1,018 | 1,343 |
| Long-term debt | 6,239 | 5,578 | 5,958 |
| Total interest expense | 12,912 | 9,961 | 10,549 |
| Net interest income | 44,667 | 41,096 | 38,958 |
| Noninterest income | |||
| Card income | 5,902 | 5,851 | 5,959 |
| Service charges | 7,818 | 7,638 | 7,381 |
| Investment and brokerage services | 13,281 | 12,745 | 13,337 |
| Investment banking income | 6,011 | 5,241 | 5,572 |
| Trading account profits | 7,277 | 6,902 | 6,473 |
| Mortgage banking income | 224 | 1,853 | 2,364 |
| Gains on sales of debt securities | 255 | 490 | 1,138 |
| Other income | 1,917 | 1,885 | 1,783 |
| Total noninterest income | 42,685 | 42,605 | 44,007 |
| Total revenue, net of interest expense | 87,352 | 83,701 | 82,965 |
| Provision for credit losses | 3,396 | 3,597 | 3,161 |
| Noninterest expense | |||
| Personnel | 31,642 | 31,748 | 32,751 |
| Occupancy | 4,009 | 4,038 | 4,093 |
| Equipment | 1,692 | 1,804 | 2,039 |
| Marketing | 1,746 | 1,703 | 1,811 |
| Professional fees | 1,888 | 1,971 | 2,264 |
| Data processing | 3,139 | 3,007 | 3,115 |
| Telecommunications | 699 | 746 | 823 |
| Other general operating | 9,928 | 10,066 | 10,721 |
| Total noninterest expense | 54,743 | 55,083 | 57,617 |
| Income before income taxes | 29,213 | 25,021 | 22,187 |
| Income tax expense | 10,981 | 7,199 | 6,277 |
| Net income | 18,232 | 17,822 | 15,910 |
| Preferred stock dividends | 1,614 | 1,682 | 1,483 |
| Net income applicable to common shareholders | 16,618 | 16,140 | 14,427 |
| Per common share information | |||
| Earnings (in dollars per share) | 1.63 | 1.57 | 1.38 |
| Diluted earnings (in dollars per share) | 1.56 | 1.49 | 1.31 |
| Dividends paid (in dollars per share) | 0.39 | 0.25 | 0.20 |
| Average common shares issued and outstanding (in thousands) (in shares) | 10,195,646 | 10,284,147 | 10,462,282 |
| Average diluted common shares issued and outstanding (in thousands) (in shares) | 10,778,428 | 11,046,806 | 11,236,230 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2017 | |
| 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 |