It's been a wild year for Income Investor pick Bank of America (NYSE:BAC). After picking up Countrywide, it's now the nation's largest home lender (for better or worse).


Trailing 12 months

Total revenue (before loan losses)

$65.79 billion

Total net income

$8.59 billion

Net income per share


Dividends paid per share


Share price range

$18.44 - $52.96

While B of A has endured a rough couple of quarters, its damage hasn't nearly been as bad as that suffered by Washington Mutual (NYSE:WM) or Wachovia (NYSE:WB). In fact, B of A hasn't recorded a single quarterly loss throughout this credit crunch. 

You can thank its diverse business segments for that. B of A is one of the nation's largest credit card issuers (thanks to the 2005 acquisition of MBNA), and it has a booming wealth management division (via its acquisition of U.S. Trust). As real estate continues to muddle along, that diversity will help keep things in order, at least in relative terms.   


Most recent quarter

Return on assets


Return on equity


Net interest margin


Percentage of assets not performing


Tier 1 capital ratio


Book value per share


One big wild card in B of A's portfolio is how the Countrywide acquisition turns out. It barely paid a pittance for Countrywide's assets, but that price was based on the assumption that many of the home loans would turn to dust. Many will, of course, but just two weeks ago, B of A announced in its quarterly earnings that Countrywide should have a positive effect on net income this year. It's still a black box, but if B of A can somehow turn around Countrywide's assets, it'll have a leg up to take on banks whose real estate assets are holding up, such as Wells Fargo (NYSE:WFC) and US Bancorp (NYSE:USB).

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Fool contributor Morgan Housel doesn't own shares in any of the companies mentioned in this article. US Bancorp and Bank of America are Motley Fool Income Investor recommendations. The Fool has a disclosure policy.