September 30
-------------------
2009 2008
-------------------
Total nonperforming
assets $33,825 $13,576
Nonperforming assets as
a % of total loans,
leases and foreclosed
properties (1) 3.72% 1.45%
Allowance for loan and
lease losses $35,832 $20,346
Allowance for loan and
lease losses as a % of
total loans and leases
outstanding (1) 3.95% 2.17%
Capital Management September 30
---------------------
2009 2008
---------------------
Risk-based capital ratios:
Tier 1 12.46% 7.55%
Tier 1 common 7.25 4.23
Total 16.69 11.54
Tier 1 leverage ratio 8.39 5.51
Tangible equity ratio (2) 7.55 4.13
Tangible common equity
ratio (3) 4.82 2.75
Period-end common shares
issued and outstanding 8,650,314 4,562,055
Three Months Ended Nine Months Ended
-------------------------------------------
September 30 September 30
--------------------- --------------------
2009 2008 2009 2008
Shares issued (4) n/a 109,108 3,632,879 124,170
Average common shares
issued and outstanding 8,633,834 4,543,963 7,423,341 4,469,517
Average diluted common
shares issued and
outstanding 8,633,834 4,547,578 7,449,911 4,477,994
Dividends paid per
common share $0.01 $0.64 $0.03 $1.92
Summary End of Period September 30
---------------------
Balance Sheet 2009 2008
---------------------
Total loans and leases $914,266 $942,676
Total debt securities 256,745 258,677
Total earning assets 1,711,939 1,544,907
Total assets 2,251,043 1,831,177
Total deposits 974,899 874,051
Total shareholders'
equity 257,683 161,039
Common shareholders'
equity 198,843 136,888
Book value per share of
common stock $22.99 $30.01
(1) Ratios do not include loans measured at fair value under the fair
value option at and for the three and nine months ended September 30,
2009 and 2008.
(2) Tangible equity ratio equals shareholders' equity less goodwill
and intangible assets (excluding mortgage servicing rights), net of
related deferred tax liabilities divided by total assets less
goodwill and intangible assets (excluding mortgage servicing rights),
net of related deferred tax liabilities.
(3) Tangible common equity ratio equals common shareholders' equity less
goodwill and intangible assets (excluding mortgage servicing rights),
net of related deferred tax liabilities divided by total assets less
goodwill and intangible assets (excluding mortgage servicing rights),
net of related deferred tax liabilities.
(4) 2009 amounts include approximately 1.375 billion shares issued in
the Merrill Lynch acquisition.
n/m = not meaningful
n/a = not applicable
Certain prior period amounts have been reclassified to conform to current period presentation.
Information for periods beginning July 1, 2008 include the Countrywide acquisition. Information for the period beginning January 1, 2009 includes the Merrill Lynch acquisition. Prior periods have not been restated.
This information is preliminary and based on company data available at the time of the presentation.
Bank of America Corporation and Subsidiaries
Business Segment Results
(Dollars in millions)
For the three months ended September 30
Global Card Home Loans &
Deposits Services (1, 2) Insurance
------------- ------------- ------------
2009 2008 2009 2008 2009 2008
---- ---- ---- ---- ---- ----
Total revenue,
net of interest
expense (3) $3,666 $4,725 $7,327 $7,753 $3,411 $3,474
Provision for
credit losses 102 98 6,975 5,602 2,897 818
Noninterest
expense 2,336 2,098 1,968 2,405 3,041 2,741
Net income (loss) 798 1,575 (1,036) (167) (1,632) (54)
Efficiency
ratio (3) 63.72% 44.41% 26.87% 31.03% 89.19% 78.90%
Return on
average equity 13.26 26.01 n/m n/m n/m n/m
Average - total
loans and leases n/m n/m $213,340 $239,951 $132,599 $122,034
Average - total
deposits $418,511 $377,778 n/m n/m n/m n/m
Global Wealth
& Investment
Global Banking Global Markets Management
-------------- -------------- ------------
2009 2008 2009 2008 2009 2008
---- ---- ---- ---- ---- ----
Total revenue,
net of interest
expense (3) $4,670 $4,284 $5,827 $161 $4,095 $1,570
Provision for
credit losses 2,340 802 98 (24) 515 150
Noninterest
expense 2,258 1,849 2,328 1,120 3,169 1,286
Net income (loss) 40 1,024 2,190 (588) 271 80
Efficiency
ratio (3) 48.35% 43.15% 39.96% n/m 77.38% 81.90%
Return on average
equity 0.26 8.06 19.87 n/m 5.61 2.74
Average - total
loans and
leases $308,764 $320,813 n/m n/m $101,181 $88,255
Average - total
deposits 214,286 177,668 n/m n/m 214,994 162,192
All Other (1, 4)
---------------
2009 2008
---- ----
Total revenue,
net of interest
expense (3) $(2,631) $(2,068)
Provision for
credit losses (1,222) (996)
Noninterest expense 1,206 161
Net income (loss) (1,632) (693)
Average - total
loans and leases $147,666 $146,305
Average - total
deposits 108,244 104,370
(1) Global Card Services is presented on a managed basis with a
corresponding offset recorded in All Other.
(2) Provision for credit losses represents provision for credit losses on
held loans combined with realized credit losses associated with the
securitized loan portfolio.
(3) Fully taxable-equivalent (FTE) basis. FTE basis is a performance
measure used by management in operating the business that
management believes provides investors with a more accurate picture
of the interest margin for comparative purposes.
(4) Provision for credit losses represents provision for credit losses in
All Other combined with the Global Card Services securitization
offset.
n/m = not meaningful
Certain prior period amounts have been reclassified to conform to current period presentation.
Information for periods beginning July 1, 2008 include the Countrywide acquisition. Information for the period beginning January 1, 2009 includes the Merrill Lynch acquisition. Prior periods have not been restated. This information is preliminary and based on company data available at the time of the presentation.
(CONTINUA)
Andalucía
Aragón
Cantabria
Castilla-La Mancha
Castilla y León
Catalunya
Extremadura
Galicia
Islas Canarias
Islas Baleares
Madrid
País Vasco
La Rioja
C. Valenciana
Navarra
Asturias
Murcia
Ceuta y Melilla
