Hitting Every State Over 46 days, Thousands Will Carry the Flame of Hope Lighting the Way to a Future of Inclusion and Respect for People With Intellectual Disabilities; ESPN and ABC to Showcase Story of Historic Relay Leading up to the 2015 Special Olympics World Games
Special Olympics and Michelle Kwan announced today on ABC’s “Good Morning America” that registration has opened for the first-ever Special Olympics Unified Relay Across America presented by Bank of America. The Unified Relay will give anyone in the country a chance to carry the Flame of Hope that will be lit in Athens, Greece and help deliver it to Los Angeles for the Special Olympics World Games – now only six months away. Over the course of 46 days, in a hand-to-hand exchange, over 20,000more...
U.S. Equities and Real Estate in Favor; Too Soon to Back Oil
Global investors have put some of their cash to work in spite of a more
downbeat assessment of global growth and corporate profits, according to
the BofA Merrill Lynch Fund Manager Survey for January.
Investors have regained a muted risk appetite, turning to U.S. equities,
bonds and real estate. The proportion of respondents overweight cash has
tumbled to a net 17 percent from a net 28 percent last month. Average
cash positions havemore...
Results Include a Total of $1.2 Billion in Negative Charges to Revenue ($0.07 per Share) for Market-related Net Interest Income Adjustment, Adoption of Funding Valuation Adjustments (FVA)(A),and Net Debit Valuation Adjustments (DVA)
Full-year 2014 Net Income of $4.8 Billion, or $0.36 per Diluted Share, on Revenue of $85.1 Billion(B)
Continued Business Momentum
Originated $15 Billion in Residential Mortgage Loans and Home Equity Loans in Q4-14, Helping Approximately 41,000 Home Owners Purchase a Home or Refinance a Mortgage
Issued 1.2 Million New Credit Cards in Q4-14, With 67 Percent Going to Existing Relationship Customers
Delivered Record Asset Management Fees in Global Wealth and Investment Management of $2.1 Billion; Pretax Margin of 25 Percent in Q4-14
Global Banking Increased Loans by $3.1 Billion, or 1.2 Percent, From Q4-13 to $273 Billion
Reduced Noninterest Expense to $14.2 Billion in Q4-14, Lowest Quarterly Expense Level Since Merrill Lynch Merger
Excluding Litigation, Noninterest Expense Down $1.2 Billion From Q4-13 to $13.8 Billion(C)
Legacy Assets and Servicing Expenses, Excluding Litigation, Down $0.7 Billion, or 38 Percent From Q4-13 to $1.1 Billion(D)
Credit Quality Continued to Improve With Net Charge-offs Down $0.7 Billion, or 44 Percent, From Q4-13 to $0.9 Billion; Net Charge-off Ratio of 0.40 Percent Is Lowest in a Decade
Record Capital and Liquidity Levels
Estimated Common Equity Tier 1 Ratio Under Basel 3 (Standardized Approach, Fully Phased-in) 10.0 Percent in Q4-14; Advanced Approaches 9.6 Percent in Q4-14(E)
Estimated Supplementary Leverage Ratios Above 2018 Required Minimums, With Bank Holding Company at 5.9 Percent and Primary Bank at 7.0 Percent(F)
Record Global Excess Liquidity Sources of $439 Billion, up $63 Billion from Q4-13; Time-to-required Funding at 39 Months
Tangible Book Value per Share Increased 5 Percent From Q4-13 to $14.43 per Share(G)
Book Value per Share Increased 3 Percent From Q4-13 to $21.32 per Share
Fourth-quarter 2014 Earnings Press ReleaseSupplemental Fourth-quarter 2014 Financial InformationBank of America Corporation today reported net income of $3.1 billion, or $0.25 per diluted share, for the fourth quarter of 2014, compared to $3.4 billion, or $0.29 per diluted share in the year-ago period. Revenue, net of interest expense, on an FTE basis(B) was $19.0 billion, compared to $21.7 billion in the fourth quarter of 2013.Results for the most recent quarter include three adjustments thatmore...