On April 17, Wachovia
- Earnings per share, excluding merger-related expenses, met Wall Street expectations at $1.12.
- Revenue growth was driven primarily by a 17% increase in non-interest income.
- The net interest margin dropped 10 basis points to 3.21%, while asset quality improved.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q1 2006 |
Q1 2005 |
% Change |
|
|---|---|---|---|---|
|
Total Revenue |
- |
$6,946 |
$6,372 |
9% |
|
Net Interest Income |
- |
$3,490 |
$3,413 |
2.3% |
|
Net Profit |
- |
$1,728 |
$1,621 |
6.6% |
|
EPS |
$1.12 |
$1.09 |
$1.01 |
7.9% |
Get back to basics with a look at the income statement.
Ratio Checkup*
|
Q1 2006 |
Q1 2005 |
Change |
|
|---|---|---|---|
|
Net Interest Margin |
3.21% |
3.31% |
(0.10)% |
|
Efficiency Ratio** |
54.79% |
54.18% |
0.61% |
|
Nonperforming Assets/Assets |
0.14% |
0.21% |
(0.06)% |
|
Return on Average Assets |
1.38% |
1.34% |
0.04% |
|
Return on Average Equity |
15.01% |
14.19% |
0.82% |
**Excludes brokerage.
Get the scoop on bank ratios.
Balance Sheet Highlights
|
Assets |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Investment Securities |
$158,203 |
$163,880 |
(3.5)% |
|
Loans |
$288,791 |
$241,439 |
19.6% |
|
Liabilities |
|||
|---|---|---|---|
|
Deposits |
$328,564 |
$297,657 |
10.4% |
|
Total Liabilities |
$489,073 |
$457,555 |
6.9% |
Related Companies:
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Citigroup
(NYSE:C) -
JPMorgan Chase
(NYSE:JPM) -
BB&T
(NYSE:BBT) -
Bank of America
(NYSE:BAC) -
U.S. Bancorp
(NYSE:USB)
Related Foolishness:
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At the time of publication, Joseph Khattab had no positions in the companies mentioned. Bank of America, JPMorgan Chase, and U.S. Bancorp are all Motley Fool Income Investor recommendations. Fool rules are here .
