Bank of America 2006 Annual Report Download - page 88

Statistical Tables
Table I Year-to-date Average Balances and Interest Rates – FTE Basis
2006 2005 2004
(Dollars in millions)
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Earning assets
Time deposits placed and other short-term investments
$ 15,611 $ 646 4.14% $ 14,286 $ 472 3.30% $ 14,254 $ 362 2.54%
Federal funds sold and securities purchased under agreements to resell 175,334 7,823 4.46 169,132 5,012 2.96 128,981 1,940 1.50
Trading account assets 145,321 7,552 5.20 133,502 5,883 4.41 104,616 4,092 3.91
Debt securities
(1)
225,219 11,845 5.26 219,843 11,047 5.03 150,171 7,320 4.88
Loans and leases
(2)
:
Residential mortgage 207,879 11,608 5.58 173,773 9,424 5.42 167,270 9,056 5.42
Credit card – domestic 63,838 8,638 13.53 53,997 6,253 11.58 43,435 4,653 10.71
Credit card – foreign 9,141 1,147 12.55 ––– –––
Home equity lines 68,696 5,105 7.43 56,289 3,412 6.06 39,400 1,835 4.66
Direct/Indirect consumer
(3)
59,597 4,552 7.64 44,981 2,589 5.75 38,078 2,093 5.50
Other consumer
(4)
10,713 1,089 10.17 6,908 667 9.67 7,717 594 7.70
Total consumer 419,864 32,139 7.65 335,948 22,345 6.65 295,900 18,231 6.16
Commercial – domestic 151,231 10,897 7.21 128,034 8,266 6.46 114,644 6,978 6.09
Commercial real estate
(5)
36,939 2,740 7.42 34,304 2,046 5.97 28,085 1,263 4.50
Commercial lease financing 20,862 995 4.77 20,441 992 4.85 17,483 819 4.68
Commercial – foreign 23,521 1,674 7.12 18,491 1,292 6.99 16,505 850 5.15
Total commercial 232,553 16,306 7.01 201,270 12,596 6.26 176,717 9,910 5.61
Total loans and leases 652,417 48,445 7.43 537,218 34,941 6.50 472,617 28,141 5.95
Other earning assets 55,242 3,498 6.33 38,013 2,103 5.53 34,634 1,815 5.24
Total earning assets
(6)
1,269,144 79,809 6.29 1,111,994 59,458 5.35 905,273 43,670 4.82
Cash and cash equivalents 34,052 33,199 28,511
Other assets, less allowance for loan and lease losses 163,485 124,699 110,847
Total assets $1,466,681 $1,269,892 $1,044,631
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings $ 34,608 $ 269 0.78% $ 36,602 $ 211 0.58% $ 33,959 $ 119 0.35%
NOW and money market deposit accounts 218,077 3,923 1.80 227,722 2,839 1.25 214,542 1,921 0.90
Consumer CDs and IRAs 144,738 6,022 4.16 124,385 4,091 3.29 94,770 2,540 2.68
Negotiable CDs, public funds and other time deposits 12,195 483 3.97 6,865 250 3.65 5,977 290 4.85
Total domestic interest-bearing deposits 409,618 10,697 2.61 395,574 7,391 1.87 349,248 4,870 1.39
Foreign interest-bearing deposits:
Banks located in foreign countries 34,985 1,982 5.67 22,945 1,202 5.24 18,426 679 3.68
Governments and official institutions 12,674 586 4.63 7,418 238 3.21 5,327 97 1.82
Time, savings and other 38,544 1,215 3.15 31,603 661 2.09 27,739 275 0.99
Total foreign interest-bearing deposits 86,203 3,783 4.39 61,966 2,101 3.39 51,492 1,051 2.04
Total interest-bearing deposits 495,821 14,480 2.92 457,540 9,492 2.08 400,740 5,921 1.48
Federal funds purchased, securities sold under agreements to repurchase
and other short-term borrowings 411,132 19,840 4.83 326,408 11,615 3.56 227,565 4,072 1.79
Trading account liabilities 64,689 2,640 4.08 57,689 2,364 4.10 35,326 1,317 3.73
Long-term debt 130,124 7,034 5.41 97,709 4,418 4.52 92,303 3,683 3.99
Total interest-bearing liabilities (6) 1,101,766 43,994 3.99 939,346 27,889 2.97 755,934 14,993 1.98
Noninterest-bearing sources:
Noninterest-bearing deposits 177,174 174,892 150,819
Other liabilities 57,278 55,793 53,063
Shareholders’ equity 130,463 99,861 84,815
Total liabilities and shareholders’ equity $1,466,681 $1,269,892 $1,044,631
Net interest spread 2.30% 2.38% 2.84%
Impact of noninterest-bearing sources 0.52 0.46 0.33
Net interest income/yield on earning assets (7) $35,815 2.82% $31,569 2.84% $28,677 3.17%
(1) Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.
(2) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
(3) Includes home equity loans of $9.6 billion, $7.6 billion and $5.6 billion in 2006, 2005 and 2004, respectively.
(4) Includes consumer finance loans of $2.9 billion, $3.1 billion and $3.7 billion in 2006, 2005 and 2004, respectively; and foreign consumer loans of $7.8 billion, $3.6 billion and $3.0 billion in 2006, 2005 and
2004, respectively.
(5) Includes domestic commercial real estate loans of $36.2 billion, $33.8 billion and $27.7 billion in 2006, 2005 and 2004, respectively.
(6) Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(372) million, $704 million and $2.1 billion in 2006,
2005 and 2004, respectively. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $106 million, $1.3 billion and $1.5
billion in 2006, 2005 and 2004, respectively. For further information on interest rate contracts, see “Interest Rate Risk Management for Nontrading Activities” beginning on page 77.
(7) Interest income (FTE basis) in 2006 does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact
to Net Interest Income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million and 2 bps, respectively, in 2006. Management has excluded this one-time impact to
provide a more comparative basis of presentation for Net Interest Income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.
86 Bank of America 2006