On April 20, 2006, Bank of America
- Excluding merger-related expenses, Bank of America earned $1.08 per share, exceeding analyst estimates.
- The company saw 27% revenue growth from the acquisition of MBNA. Pro forma revenue was still up a healthy 10%, excluding the effects of the merger.
- Net interest margin grew slightly to 2.98%, while ROA and ROE dipped from last year.
- The Keep the Change program helped deposits grow by more than 8%.
(Figures in millions, except per-share data)
Income Statement Highlights
|
Avg. Est. |
Q1 2006 |
Q1 2005 |
% Change |
|
|---|---|---|---|---|
|
Total Revenue |
-- |
$16,407 |
$12,958 |
26.6 |
|
Net Interest Income |
-- |
$8,776 |
$7,506 |
16.9 |
|
Net Profit |
-- |
$4,986 |
$4,393 |
13.5 |
|
EPS |
$1.00 |
$1.07 |
$1.07 |
N/A |
Get back to basics with a look at the income statement.
Ratio Checkup
|
Q1 2006 |
Q1 2005 |
Change |
|
|---|---|---|---|
|
Net Interest Margin |
2.98% |
2.96% |
0.02 |
|
Efficiency Ratio |
49.74% |
51.37% |
(1.63) |
|
Nonperforming Assets / Assets |
0.12% |
0.19% |
(0.07) |
|
Return on Average Assets |
1.43% |
1.49% |
(0.06) |
|
Return on Average Equity |
15.44% |
17.97% |
(2.53) |
Get the scoop on bank ratios.
Balance Sheet Highlights
|
Assets |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Investment Securities |
$238,073 |
$218,950 |
8.7 |
|
Loans |
$619,525 |
$529,457 |
17 |
|
Liabilities |
Q1 2006 |
Q1 2005 |
% Change |
|---|---|---|---|
|
Deposits |
$682,449 |
$629,987 |
8.3 |
|
Total Liabilities |
$1,245,654 |
$1,113,302 |
11.9 |
Related Companies:
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Citigroup
(NYSE:C) -
JPMorgan Chase
(NYSE:JPM) -
BB&T
(NYSE:BBT) -
Wells Fargo
(NYSE:WFC) -
U.S. Bancorp
(NYSE:USB)
Related Foolishness:
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Bank of America, JPMorgan Chase, and U.S. Bancorp are all Motley Fool Income Investor recommendations. To discover more dynamic dividend-paying stocks, sign up for a free 30-day guest pass.
At the time of publication, Joseph Khattab had no positions in the companies mentioned. Fool rules are here .
