Bank of America 2007 Annual Report Download - page 100

Statistical Tables
Table I Year-to-date Average Balances and Interest Rates – FTE Basis
2007 2006
(1)
2005
(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
$ 13,152 $ 627 4.77% $ 15,611 $ 646 4.14% $ 14,286 $ 472 3.30%
Federal funds sold and securities purchased under agreements to
resell 155,828 7,722 4.96 175,334 7,823 4.46 169,132 5,012 2.96
Trading account assets 187,287 9,747 5.20 145,321 7,552 5.20 133,502 5,883 4.41
Debt securities
(2)
186,466 10,020 5.37 225,219 11,845 5.26 219,843 11,047 5.03
Loans and leases
(3)
:
Residential mortgage 264,650 15,112 5.71 207,879 11,608 5.58 173,773 9,424 5.42
Credit card – domestic 57,883 7,225 12.48 63,838 8,638 13.53 53,997 6,253 11.58
Credit card – foreign 12,359 1,502 12.15 9,141 1,147 12.55 – – –
Home equity
(4)
98,765 7,385 7.48 78,318 5,773 7.37 63,852 3,931 6.16
Direct/Indirect consumer
(5)
70,260 6,002 8.54 53,371 4,185 7.84 37,472 2,072 5.53
Other consumer
(6)
4,259 389 9.14 7,317 788 10.78 6,854 665 9.72
Total consumer
508,176 37,615 7.40 419,864 32,139 7.65 335,948 22,345 6.65
Commercial – domestic
180,102 12,884 7.15 151,231 10,897 7.21 128,034 8,266 6.46
Commercial real estate
(7)
42,950 3,145 7.32 36,939 2,740 7.42 34,304 2,046 5.97
Commercial lease financing 20,435 1,212 5.93 20,862 995 4.77 20,441 992 4.85
Commercial – foreign 24,491 1,452 5.93 23,521 1,674 7.12 18,491 1,292 6.99
Total commercial
267,978 18,693 6.98 232,553 16,306 7.01 201,270 12,596 6.26
Total loans and leases
776,154 56,308 7.25 652,417 48,445 7.43 537,218 34,941 6.50
Other earning assets
71,305 4,629 6.49 55,242 3,498 6.33 38,013 2,103 5.53
Total earning assets (8) 1,390,192 89,053 6.41 1,269,144 79,809 6.29 1,111,994 59,458 5.35
Cash and cash equivalents
33,091 34,052 33,199
Other assets, less allowance for loan and lease losses 178,790 163,485 124,699
Total assets $1,602,073 $1,466,681 $1,269,892
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings $ 32,316 $ 188 0.58% $ 34,608 $ 269 0.78% $ 36,602 $ 211 0.58%
NOW and money market deposit accounts 220,207 4,361 1.98 218,077 3,923 1.80 227,722 2,839 1.25
Consumer CDs and IRAs 167,801 7,817 4.66 144,738 6,022 4.16 124,385 4,091 3.29
Negotiable CDs, public funds and other time deposits 20,557 974 4.74 12,195 483 3.97 6,865 250 3.65
Total domestic interest-bearing deposits
440,881 13,340 3.03 409,618 10,697 2.61 395,574 7,391 1.87
Foreign interest-bearing deposits:
Banks located in foreign countries
42,788 2,174 5.08 34,985 1,982 5.67 22,945 1,202 5.24
Governments and official institutions 16,523 812 4.91 12,674 586 4.63 7,418 238 3.21
Time, savings and other 43,443 1,767 4.07 38,544 1,215 3.15 31,603 661 2.09
Total foreign interest-bearing deposits
102,754 4,753 4.63 86,203 3,783 4.39 61,966 2,101 3.39
Total interest-bearing deposits
543,635 18,093 3.33 495,821 14,480 2.92 457,540 9,492 2.08
Federal funds purchased, securities sold under agreements to
repurchase and other short-term borrowings
424,814 21,975 5.17 411,132 19,840 4.83 326,408 11,615 3.56
Trading account liabilities 82,721 3,444 4.16 64,689 2,640 4.08 57,689 2,364 4.10
Long-term debt 169,855 9,359 5.51 130,124 7,034 5.41 97,709 4,418 4.52
Total interest-bearing liabilities (8) 1,221,025 52,871 4.33 1,101,766 43,994 3.99 939,346 27,889 2.97
Noninterest-bearing sources:
Noninterest-bearing deposits
173,547 177,174 174,892
Other liabilities 70,839 57,278 55,793
Shareholders’ equity 136,662 130,463 99,861
Total liabilities and shareholders’ equity $1,602,073 $1,466,681 $1,269,892
Net interest spread
2.08% 2.30% 2.38%
Impact of noninterest-bearing sources 0.52 0.52 0.46
Net interest income/yield on earning assets $36,182 2.60% $35,815 2.82% $31,569 2.84%
(1) 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.
(2) 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.
(3) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.
(4) Includes home equity loans of $16.7 billion, $9.7 billion and $7.6 billion in 2007, 2006 and 2005, respectively.
(5) Includes foreign consumer loans of $3.8 billion, $3.4 billion, and $53 million in 2007, 2006 and 2005, respectively.
(6) Includes consumer finance loans of $3.2 billion, $2.9 billion, $3.1 billion in 2007, 2006 and 2005, respectively; and other foreign consumer loans of $1.1 billion, $4.4 billion and $3.5 billion in 2007, 2006 and 2005,
respectively.
(7) Includes domestic commercial real estate loans of $42.1 billion, $36.2 billion and $33.8 billion in 2007, 2006 and 2005, respectively.
(8) Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on the underlying assets $(542) million, $(372) million and $704 million in 2007, 2006 and 2005,
respectively. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $813 million, $106 million and $1.3 billion in 2007, 2006 and
2005, respectively. For further information on interest rate contracts, see Interest Rate Risk Management for Nontrading Activities beginning on page 90.
98 Bank of America 2007