Bank of America 1999 Annual Report Download - page 31

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Bank of America Corporation and Subsidiaries
(Dollars in millions)
December 31
1999 1998
Assets
Cash and cash equivalents $
$26,989 $ 28,277
Time deposits placed and other short-term investments 4,838 6,750
Federal funds sold and securities purchased under agreements to resell 37,928 27,146
Trading account assets 38,460 39,602
Securities:
Available-for-sale 81,647 78,590
Held-for-investment, at cost (market value - $1,270 and $1,853)1,422 1,997
Total securities 83,069 80,587
Loans and leases 370,662 357,328
Allowance for credit losses (6,828) (7,122)
Loans and leases, net of allowance for credit losses 363,834 350,206
Premises and equipment, net 6,713 7,289
Customers’ acceptance liability 1,869 2,671
Derivative-dealer assets 16,055 16,400
Interest receivable 3,777 3,734
Mortgage servicing rights 4,093 2,376
Goodwill 12,262 12,695
Core deposits and other intangibles 1,730 2,013
Other assets 30,957 37,933
Total assets $
$632,574 $617,679
Liabilities
Deposits in domestic offices:
Noninterest-bearing $
$93,476 $ 92,623
Interest-bearing 207,048 203,644
Deposits in foreign offices:
Noninterest-bearing 1,993 1,713
Interest-bearing 44,756 59,280
Total deposits 347,273 357,260
Federal funds purchased and securities sold under agreements to repurchase 74,561 67,543
Trading account liabilities 20,958 14,170
Derivative-dealer liabilities 16,200 16,835
Commercial paper 7,331 6,749
Other short-term borrowings 40,340 24,742
Acceptances outstanding 1,869 2,671
Accrued expenses and other liabilities 19,169 30,929
Long-term debt 55,486 45,888
Trust preferred securities 4,955 4,954
Total liabilities 588,142 571,741
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and
outstanding - 1,797,702 shares and 1,952,039 shares 77 83
Common stock, $0.01 par value; authorized - 5,000,000,000 shares; issued and
outstanding - 1,677,273,267 shares and 1,724,484,305 shares 11,671 14,837
Retained earnings 35,681 30,998
Accumulated other comprehensive income (loss) (2,658) 152
Other (339) (132)
Total shareholders’ equity 44,432 45,938
Total liabilities and shareholders’ equity $
$632,574 $617,679
Refer to the Bank of America Corporation 1999 Annual Report on Form 10-K for a complete set of consolidated financial statements.
29
Consolidated balance sheet