Bank of America 2014 Annual Report Download - page 23

Bank of America 2014 21
Selected Financial Data
Table 1 provides selected consolidated financial data for 2014 and 2013.
Table 1 Selected Financial Data
(Dollars in millions, except per share information) 2014 2013
Income statement
Revenue, net of interest expense (FTE basis) (1) $85,116 $ 89,801
Net income 4,833 11,431
Diluted earnings per common share 0.36 0.90
Dividends paid per common share 0.12 0.04
Performance ratios
Return on average assets 0.23%0.53%
Return on average tangible common shareholders’ equity (1) 2.52 6.97
Efficiency ratio (FTE basis) (1) 88.25 77.07
Asset quality
Allowance for loan and lease losses at December 31 $14,419 $ 17,428
Allowance for loan and lease losses as a percentage of total loans and leases outstanding at December 31 (2) 1.65%1.90%
Nonperforming loans, leases and foreclosed properties at December 31 (2) $12,629 $ 17,772
Net charge-offs (3) 4,383 7,897
Net charge-offs as a percentage of average loans and leases outstanding (2, 3) 0.49%0.87%
Net charge-offs as a percentage of average loans and leases outstanding, excluding the purchased credit-impaired loan portfolio (2) 0.50 0.90
Net charge-offs and purchased credit-impaired write-offs as a percentage of average loans and leases outstanding (2) 0.58 1.13
Ratio of the allowance for loan and lease losses at December 31 to net charge-offs (3) 3.29 2.21
Ratio of the allowance for loan and lease losses at December 31 to net charge-offs, excluding the purchased credit-impaired loan portfolio 2.91 1.89
Ratio of the allowance for loan and lease losses at December 31 to net charge-offs and purchased credit-impaired write-offs 2.78 1.70
Balance sheet at year end
Total loans and leases $ 881,391 $ 928,233
Total assets 2,104,534 2,102,273
Total deposits 1,118,936 1,119,271
Total common shareholders’ equity 224,162 219,333
Total shareholders’ equity 243,471 232,685
Capital ratios at year end (4)
Common equity tier 1 capital 12.3%n/a
Tier 1 common capital n/a 10.9%
Tier 1 capital 13.4 12.2
Total capital 16.5 15.1
Tier 1 leverage 8.2 7.7
(1) Fully taxable-equivalent (FTE) basis, return on average tangible common shareholders’ equity and the efficiency ratio are non-GAAP financial measures. Other companies may define or calculate these
measures differently. For more information, see Supplemental Financial Data on page 29, and for corresponding reconciliations to GAAP financial measures, see Statistical Table XV.
(2) Balances and ratios do not include loans accounted for under the fair value option. For additional exclusions from nonperforming loans, leases and foreclosed properties, see Consumer Portfolio
Credit Risk Management – Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity on page 79 and corresponding Table 39, and Commercial Portfolio Credit Risk Management –
Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity on page 86 and corresponding Table 48.
(3) Net charge-offs exclude $810 million of write-offs in the purchased credit-impaired loan portfolio for 2014 compared to $2.3 billion for 2013. These write-offs decreased the purchased credit-impaired
valuation allowance included as part of the allowance for loan and lease losses. For more information on purchased credit-impaired write-offs, see Consumer Portfolio Credit Risk Management –
Purchased Credit-impaired Loan Portfolio on page 75.
(4) On January 1, 2014, the Basel 3 rules became effective, subject to transition provisions primarily related to regulatory deductions and adjustments impacting Common equity tier 1 capital and Tier
1 capital. We reported under Basel 1 (which included the Market Risk Final Rules) at December 31, 2013.
n/a = not applicable