Bank of America 2007 Annual Report Download - page 103
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Table IV Nonperforming Assets
December 31
(Dollars in millions) 2007 2006 2005 2004 2003
Consumer
Residential mortgage
$1,999
$ 660 $ 570 $ 554 $ 531
Home equity
(1)
1,340
291 151 94 67
Direct/Indirect consumer
(1)
8
2354
Other consumer
95
77 61 85 36
Total consumer
(2)
3,442
1,030 785 738 638
Commercial
Commercial – domestic
(3)
869
505 550 847 1,383
Commercial real estate
1,099
118 49 87 142
Commercial lease financing
33
42 62 266 127
Commercial – foreign
19
13 34 267 578
2,020
678 695 1,467 2,230
Small business commercial – domestic
135
79 31 8 5
Total commercial
(4)
2,155
757 726 1,475 2,235
Total nonperforming loans and leases
5,597
1,787 1,511 2,213 2,873
Foreclosed properties
351
69 92 102 148
Nonperforming securities
(5)
–––
140
–
Total nonperforming assets (6, 7)
$5,948
$1,856 $1,603 $2,455 $3,021
(1) Nonperforming home equity loan balances previously included in direct/indirect consumer were reclassified to home equity to conform to current year presentation.
(2) In 2007, $230 million in interest income was estimated to be contractually due on nonperforming consumer loans and leases classified as nonperforming at December 31, 2007 provided that these loans and leases had
been paid according to their terms and conditions. Of this amount, approximately $85 million was received and included in net income for 2007.
(3) Excludes small business commercial – domestic loans.
(4) In 2007, $229 million in interest income was estimated to be contractually due on nonperforming commercial loans and leases classified as nonperforming at December 31, 2007, including troubled debt restructured loans of
which $33 million were performing at December 31, 2007 and not included in the table above. Approximately $162 million of the estimated $229 million in contractual interest was received and included in net income for
2007.
(5) In 2005, nonperforming international securities held in the AFS portfolio were exchanged for performing securities.
(6) Balances do not include nonperforming loans held-for-sale included in other assets of $188 million, $80 million, $69 million, $151 million, and $202 million at December 31, 2007, 2006, 2005, 2004, and 2003,
respectively.
(7) Balances do not include loans measured at fair value in accordance with SFAS 159. At December 31, 2007, there were no nonperforming loans measured under fair value in accordance with SFAS 159.
Bank of America 2007
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