Bank of America 2006 Annual Report Download - page 95

Table XII Selected Quarterly Financial Data
2006 Quarters 2005 Quarters
(Dollars in millions, except per share information) Fourth Third Second First Fourth Third Second First
Income statement
Net interest income
$ 8,599 $ 8,586 $ 8,630 $ 8,776 $ 7,859 $ 7,735 $ 7,637 $ 7,506
Noninterest income
9,866 10,067 9,598 8,901 5,951 6,416 6,955 6,032
Total revenue
18,465 18,653 18,228 17,677 13,810 14,151 14,592 13,538
Provision for credit losses
1,570 1,165 1,005 1,270 1,400 1,159 875 580
Gains (losses) on sales of debt
securities
21 (469) (9) 14 71 29 325 659
Noninterest expense
9,093 8,863 8,717 8,924 7,320 7,285 7,019 7,057
Income before income taxes
7,823 8,156 8,497 7,497 5,161 5,736 7,023 6,560
Income tax expense
2,567 2,740 3,022 2,511 1,587 1,895 2,366 2,167
Net income
5,256 5,416 5,475 4,986 3,574 3,841 4,657 4,393
Average common shares issued and
outstanding (in thousands)
4,464,110 4,499,704 4,534,627 4,609,481 3,996,024 4,000,573 4,005,356 4,032,550
Average diluted common shares issued
and outstanding (in thousands)
4,536,696 4,570,558 4,601,169 4,666,405 4,053,859 4,054,659 4,065,355 4,099,062
Performance ratios
Return on average assets
1.39% 1.43% 1.51% 1.43% 1.09% 1.18% 1.46% 1.49%
Return on average common
shareholders’ equity
15.76 16.64 17.26 15.44 14.21 15.09 18.93 17.97
Total ending equity to total ending
assets
9.27 9.22 8.85 9.41 7.86 8.12 8.13 8.16
Total average equity to total average
assets
8.97 8.63 8.75 9.26 7.66 7.82 7.74 8.28
Dividend payout
47.49 46.82 41.76 46.75 56.24 52.60 38.90 41.71
Per common share data
Earnings
$ 1.17 $ 1.20 $ 1.21 $ 1.08 $ 0.89 $ 0.96 $ 1.16 $ 1.09
Diluted earnings
1.16 1.18 1.19 1.07 0.88 0.95 1.14 1.07
Dividends paid
0.56 0.56 0.50 0.50 0.50 0.50 0.45 0.45
Book value
29.70 29.52 28.17 28.19 25.32 25.28 25.16 24.45
Average balance sheet
Total loans and leases
$ 683,598 $ 673,477 $ 635,649 $ 615,968 $ 563,589 $ 539,497 $ 520,415 $ 524,921
Total assets
1,495,150 1,497,987 1,456,004 1,416,373 1,305,057 1,294,754 1,277,478 1,200,859
Total deposits
680,245 676,851 674,796 659,821 628,922 632,771 640,593 627,420
Long-term debt
140,756 136,769 125,620 117,018 99,601 98,326 96,697 96,167
Common shareholders’ equity
132,004 129,098 127,102 130,881 99,677 100,974 98,558 99,130
Total shareholders’ equity
134,047 129,262 127,373 131,153 99,948 101,246 98,829 99,401
Asset Quality
Allowance for credit losses
$ 9,413 $ 9,260 $ 9,475 $ 9,462 $ 8,440 $ 8,716 $ 8,702 $ 8,707
Nonperforming assets
1,856 1,656 1,641 1,680 1,603 1,597 1,895 2,338
Allowance for loan and lease losses as
a percentage of total loans and
leases outstanding
1.28% 1.33% 1.36% 1.46% 1.40% 1.50% 1.57% 1.57%
Allowance for loan and lease losses as
a percentage of total nonperforming
loans and leases
505 562 579 572 532 556 470 401
Net charge-offs
$ 1,417 $ 1,277 $ 1,023 $ 822 $ 1,648 $ 1,145 $ 880 $ 889
Annualized net charge-offs as a
percentage of average loans and
leases
0.82% 0.75% 0.65% 0.54% 1.16% 0.84% 0.68% 0.69%
Nonperforming loans and leases as a
percentage of total loans and
leases outstanding
0.25 0.24 0.23 0.26 0.26 0.27 0.33 0.39
Nonperforming assets as a percentage
of total loans, leases, and
foreclosed properties
0.26 0.25 0.25 0.27 0.28 0.29 0.36 0.44
Ratio of the allowance for loan and
lease losses at period end to
annualized net charge-offs
1.60 1.75 2.21 2.72 1.23 1.83 2.36 2.30
Capital ratios (period end)
Risk-based capital:
Tier 1
8.64% 8.48% 8.33% 8.45% 8.25% 8.27% 8.16% 8.26%
Total
11.88 11.46 11.25 11.32 11.08 11.19 11.23 11.52
Tier 1 Leverage
6.36 6.16 6.13 6.18 5.91 5.90 5.66 5.86
Market capitalization $ 238,021 $ 240,966 $ 217,794 $ 208,633 $ 184,586 $ 168,950 $ 183,202 $ 177,958
Market price per share of
common stock
Closing
$ 53.39 $ 53.57 $ 48.10 $ 45.54 $ 46.15 $ 42.10 $ 45.61 $ 44.10
High closing
54.90 53.57 50.47 47.08 46.99 45.98 47.08 47.08
Low closing
51.66 47.98 45.48 43.09 41.57 41.60 44.01 43.66
Bank of America 2006 93