Bank of America 1998 Annual Report Download - page 29

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December 31
1998 1997
Assets
Cash and cash equivalents $ 28,277 $ 28,466
Time deposits placed and other short-term investments 6,750 8,363
Securities
Held for investment, at cost (market value $1,853 and $4,905) 1,997 4,822
Available for sale 78,590 62,209
Total securities 80,587 67,031
Federal funds sold and securities purchased under agreements to resell 27,146 20,200
Trading account assets 39,602 35,937
Loans and leases 357,328 342,140
Allowance for credit losses (7,122) (6,778)
Loans and leases, net of allowance for credit losses 350,206 335,362
Premises and equipment, net 7,289 8,123
Customers’ acceptance liability 2,671 4,891
Interest receivable 3,734 3,584
Unrealized gains on off-balance sheet instruments 16,400 14,824
Mortgage servicing rights 2,376 2,040
Goodwill 12,695 13,551
Core deposits and other intangibles 2,013 2,203
Other assets 37,933 26,408
Total assets $617,679 $570,983
Liabilities
Deposits in domestic offices
Interest-bearing $203,644 $202,082
Noninterest-bearing 92,623 85,815
Deposits in foreign offices
Interest-bearing 59,280 56,719
Noninterest-bearing 1,713 1,681
Total deposits 357,260 346,297
Federal funds purchased and securities sold under agreements to repurchase 67,543 61,414
Trading account liabilities 14,170 17,300
Commercial paper 6,749 5,925
Other short-term borrowings 24,742 12,120
Acceptances outstanding 2,671 4,893
Unrealized losses on off-balance sheet instruments 16,835 13,639
Accrued expenses and other liabilities 30,929 17,346
Trust preferred securities 4,954 4,578
Long-term debt 45,888 42,887
Total liabilities 571,741 526,399
Shareholders’ equity
Preferred stock: authorized - 100,000,000 shares; issued and 83 708
outstanding - 1,952,039 and 10,933,884 shares
Common stock: authorized - 5,000,000,000 shares; issued and
outstanding - 1,724,484,305 and 1,722,537,672 shares (1) 14,837 15,140
Retained earnings 30,998 28,438
Accumulated other comprehensive income 152 407
Other (132) (109)
Total shareholders’ equity 45,938 44,584
Total liabilities and shareholders’ equity $617,679 $570,983
( 1) Shares reflect a 2-for-1 stock split on February 27, 1997.
Refer to the BankAmerica 1998 Annual Report on Form 10-K for a complete set of consolidated financial statements.
27
Consolidated balance sheet
BankAmerica Corporation and Subsidiaries
( Dollars in millions)