Bank of America 2000 Annual Report Download - page 2

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Financial Highlights
Bank of America Corporation and Subsidiaries
Contents
2. Letter from Chairman
7. Summary of Financial Performance
8. Letter from President
12. Serving Consumers
14. Asset Management
15. Card and Payment Services
18. Serving Small Businesses
22. Serving the Middle Market
24. Internet and e-Commerce
25. Investment Banking
28. Serving Large Corporations and the Institutional Market
30. Consolidated Statement of Income
31. Consolidated Balance Sheet
32. Report of Independent Accountants /
Principal Officers and Board of Directors
Corporate Information (inside back cover)
Year Ended December 31
(Dollars in millions, except per share information) 2000 1999
For the Year – Operating Results(1)
Revenue(2) $ 33,253 $ 32,521
Net income 7,863 8,240
Shareholder value added 3,081 3,544
Earnings per common share 4.77 4.77
Diluted earnings per common share 4.72 4.68
Dividends paid per common share 2.06 1.85
Return on average assets 1.17% 1.34%
Return on average common shareholders’ equity 16.70 17.70
Efficiency ratio 54.38 55.30
Average common shares issued and
outstanding (in millions) 1,646 1,726
For the Year – Cash Basis Financial Data(1) (3)
Earnings per common share $ 5.30 $ 5.28
Diluted earnings per common share 5.24 5.19
Return on average tangible assets 1.33% 1.52%
Return on average tangible common
shareholders’ equity 26.06 28.46
Efficiency ratio 51.78 52.57
At Year End
Total assets $ 642,191 $ 632,574
Total loans and leases 392,193 370,662
Total deposits 364,244 347,273
Total shareholders’ equity 47,628 44,432
Common shareholders’ equity 47,556 44,355
Book value per common share 29.47 26.44
Market price per share of common stock 45.88 50.19
Common shares issued and outstanding (in millions) 1,614 1,677
(1) Excludes after-tax merger and restructuring charges of $346 million for 2000 and $358 million for 1999.
(2) Includes net interest income on a taxable-equivalent basis and noninterest income.
(3) Cash basis calculations exclude goodwill and other intangible assets and their related amortization expense.
Consumer and
Commercial
Banking
Asset
Management
Equity Investments
$460
Global Corporate and
Investment Banking
2000 Net Income*
($ in millions)
$601
$4,643 $2,052
Consumer and
Commercial
Banking
Asset
Management
$2,284
Equity
Investments
$864
Global Corporate and
Investment Banking
2000 Revenue*
($ in millions)
$20,621 $8,965
*Excludes Corporate Other.