2015 Year-to-date Net Income of $13.2 Billion, or $1.09 per Diluted Share
CHARLOTTE, N.C. - Thursday, October 22nd 2015 [ME NewsWire]
Continued Business Momentum
Total Deposits (EOP) up $50 Billion, or 4 Percent, to $1.16 Trillion
Residential Mortgage and Home Equity Loan Originations up 13 Percent to $17 Billion
1.3 Million New Credit Cards Issued, up 5 Percent
Number of Mobile Banking Users up 14 Percent to 18.4 Million
Merrill Edge Brokerage Assets up 8 Percent to $117 Billion
Wealth Management Loan Balances (EOP) up $12 Billion, or 10 Percent, to $135 Billion
Global Banking Loan Balances (EOP) up $30 Billion, or 11 Percent, to $315 Billion
Investment Bank Generated $391 Million in Advisory Fees, Second-Highest Quarter Since Merrill Lynch Merger
Continued Progress on Expense Management; Credit Quality Remains Strong
Noninterest Expense, Excluding Litigation, Down 4 Percent to $13.6 Billion(A)
Legacy Assets and Servicing Noninterest Expense, Excluding Litigation, Down 32 Percent to $0.9Billion(B)
Net Charge-offs Down 11 Percent to $932 Million
Record Capital and Liquidity Levels
Common Equity Tier 1 Capital (Transition) Increased to $161.6 Billion
Common Equity Tier 1 Capital (Fully Phased-in) Increased to Record $153.1 Billion(C)
Record Global Excess Liquidity Sources up $70 Billion to $499 Billion; Time-to-required Funding at 42 Months(D)
Tangible Book Value per Share up 10 Percent to $15.50 per Share(E)
Book Value per Share up 7 Percent to $22.41 per Share
Return on Average Assets 0.82 Percent; Return on Average Tangible Common Equity 10 Percent; Return on Average Common Equity 6.97 Percent(F)
Returned $3.1 Billion to Common Shareholders Year-to-Date Via Repurchases and Dividends
Note: Dollar and percent changes above compare to third-quarter 2014 unless noted.
(BUSINESS WIRE)-- Bank of America Corporation today reported net income of $4.5 billion, or $0.37 per diluted share, for the third quarter of 2015, compared to a net loss of $232 million, or $0.04 per share, in the year-ago period.
"We saw solid results this quarter by continuing to execute our long-term strategy," said Chief Executive Officer Brian Moynihan. “The key drivers of our business -- deposit taking and lending to both our consumer and corporate clients -- moved in the right direction this quarter and our trading results on behalf of clients remained fairly stable in challenging capital markets conditions. Our balanced approach to serving customers and clients is on track as the economy continues to move forward."
"Our results this quarter reflect our ongoing efforts to improve operating leverage while continuing to invest in our business," said Chief Financial Officer Paul Donofrio. "We built capital and liquidity to record levels and grew total loans for the second consecutive quarter while continuing to operate within our risk framework."
To view the full report and tables please click here.
Certain prior period amounts have been reclassified to conform to current period presentation.
This information is preliminary and based on company data available at the time of the presentation.
Investors May Contact:
Lee McEntire, Bank of America, 1.980.388.6780
Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112
Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840