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Bank of America Corporation

Bank of America Corporation

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Publicatie datum 16 apr 2015 - 11:03
Statutaire naam Bank of America Corporation
Titel BANK OF AMERICA CORPORATION FILED A FORM 8-K
Bericht CHARLOTTE, N.C.– (BUSINESS WIRE) – April 15, 2015 – Bank of America Company (the “Corporation”) today informed its securities holders that it has filed a Current Report on Form 8-K with the U.S. Securities and Exchange Commission ("SEC") on April 15, 2015, announcing financial results for the first quarter ended March 31, 2015, reporting first quarter net income of $3.4 billion or $0.27 per diluted share, for the first quarter of 2015, compared to a loss of $276 million, or $0.05 per share, in the year-ago period. Results include $1.0 billion ($0.06 per share) in annual retirement-eligible incentive costs and $0.5 billion ($0.03 per share) in charges to revenue for market-related net interest income adjustments. Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis, declined $1.3 billion from the first quarter of 2014 to $21.4 billion. Continued Business Momentum • Period-end Deposit Balances Increased to Record $1.15 Trillion • Originated $17 Billion in First-lien Residential Mortgage Loans and Home Equity Loans • Issued 1.2 Million New Credit Cards With 66 Percent Going to Existing Relationship Customers • Merrill Edge Brokerage Assets Increased 18 Percent From Q1-14 to $118 Billion • Wealth Management Asset Management Fees up 10 Percent From Q1-14 to $2.1 Billion • Global Banking Increased Period-end Loans by $6 Billion From Q1-14 to $296 Billion • Bank of America Merrill Lynch Firmwide Investment Banking Fees at $1.5 Billion, With Highest Advisory Fees Since the Merrill Lynch Merger Continued Progress on Expense Management; Credit Quality Remains Strong • Reduced Noninterest Expense Excluding Litigation and Annual Retirement-eligible Incentive Costs by 6 Percent From Q1-14 to $14.3 Billion • Number of 60+ Days Delinquent First Mortgage Loans Serviced by Legacy Assets and Servicing Down 45 Percent From Q1-14 to 153,000 Loans • Credit Quality Improved With Adjusted Net Charge-offs Down 28 Percent From Q1-14 Record Capital and Liquidity Leve