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: 2020 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2020 10-K (Filed: Feb 24, 2021) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2020 | Dec 31, 2019 | Dec 31, 2018 | |
| Net interest income | |||
| Interest income | $ 51,585 | 71,236 | 66,769 |
| Interest expense | 8,225 | 22,345 | 18,607 |
| Net interest income | 43,360 | 48,891 | 48,162 |
| Noninterest income | |||
| Fees and commissions | 34,551 | 33,015 | 33,078 |
| Market making and similar activities | 8,355 | 9,034 | 9,008 |
| Other income | (738) | 304 | 772 |
| Total noninterest income | 42,168 | 42,353 | 42,858 |
| Total revenue, net of interest expense | 85,528 | 91,244 | 91,020 |
| Provision for credit losses | 11,320 | 3,590 | 3,282 |
| Noninterest expense | |||
| Compensation and benefits | 32,725 | 31,977 | 31,880 |
| Occupancy and equipment | 7,141 | 6,588 | 6,380 |
| Information processing and communications | 5,222 | 4,646 | 4,555 |
| Product delivery and transaction related | 3,433 | 2,762 | 2,857 |
| Marketing | 1,701 | 1,934 | 1,674 |
| Professional fees | 1,694 | 1,597 | 1,699 |
| Other general operating | 3,297 | 5,396 | 4,109 |
| Total noninterest expense | 55,213 | 54,900 | 53,154 |
| Income before income taxes | 18,995 | 32,754 | 34,584 |
| Income tax expense | 1,101 | 5,324 | 6,437 |
| Net income | 17,894 | 27,430 | 28,147 |
| Preferred stock dividends | 1,421 | 1,432 | 1,451 |
| Net income applicable to common shareholders | 16,473 | 25,998 | 26,696 |
| Per common share information | |||
| Earnings (in dollars per share) | 1.88 | 2.77 | 2.64 |
| Diluted earnings (in dollars per share) | 1.87 | 2.75 | 2.61 |
| Average common shares issued and outstanding (in shares) | 8,753,200 | 9,390,500 | 10,096,500 |
| Average diluted common shares issued and outstanding (in shares) | 8,796,900 | 9,442,900 | 10,236,900 |
| External Links | |
| BANK OF AMERICA CORP /DE/ (BAC) Fiscal Year 2020 | |
| 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 |