Bank of America | Annual Report (2005) | Financial Review

Table I

Average Balances and Interest Rates—FTE Basis


	2005					2004 (Restated)					2003 (Restated)
(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	$	14,286	$	472	3.30%	$	14,254	$	362	2.54%	$	9,056	$	172	1.90%
Federal funds sold and securities purchased under agreements to resell		169,132		5,012	2.96		128,981		1,940	1.50		78,857		1,266	1.61
Trading account assets		133,502		5,883	4.41		104,616		4,092	3.91		97,222		4,005	4.12
Securities		219,843		11,047	5.03		150,171		7,320	4.88		70,644		3,135	4.44
Loans and leases⁽¹⁾:
Residential mortgage		173,773		9,424	5.42		167,270		9,056	5.42		127,131		6,873	5.41
Credit card		53,997		6,253	11.58		43,435		4,653	10.71		28,210		2,886	10.23
Home equity lines		56,289		3,412	6.06		39,400		1,835	4.66		22,890		1,040	4.55
Direct/Indirect consumer		44,981		2,589	5.75		38,078		2,093	5.50		32,593		1,964	6.03
Other consumer⁽²⁾		6,908		667	9.67		7,717		594	7.70		8,865		588	6.63

Total consumer		335,948		22,345	6.65		295,900		18,231	6.16		219,689		13,351	6.08

Commercial—domestic		128,034		8,266	6.46		114,644		6,978	6.09		93,458		6,441	6.89
Commercial real estate		34,304		2,046	5.97		28,085		1,263	4.50		20,042		862	4.30
Commercial lease financing		20,441		992	4.85		17,483		819	4.68		10,061		395	3.92
Commercial—foreign		18,491		1,292	6.99		16,505		850	5.15		12,970		460	3.55

Total commercial		201,270		12,596	6.26		176,717		9,910	5.61		136,531		8,158	5.98

Total loans and leases		537,218		34,941	6.50		472,617		28,141	5.95		356,220		21,509	6.04

Other earning assets		38,013		2,103	5.53		34,634		1,815	5.24		37,599		1,729	4.60

Total earning assets⁽³⁾		1,111,994		59,458	5.35		905,273		43,670	4.82		649,598		31,816	4.90

Cash and cash equivalents		33,199					28,511					22,637
Other assets, less allowance for loan and lease losses		124,699					110,847					76,869

Total assets	$	1,269,892				$	1,044,631				$	749,104

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,602	$	211	0.58%	$	33,959	$	119	0.35%	$	24,538	$	108	0.44%
NOW and money market deposit accounts		227,722		2,839	1.25		214,542		1,921	0.90		148,896		1,236	0.83
Consumer CDs and IRAs		124,385		4,091	3.29		94,770		2,540	2.68		70,246		2,556	3.64
Negotiable CDs, public funds and other time deposits		6,865		250	3.65		5,977		290	4.85		7,627		130	1.70

Total domestic interest-bearing deposits		395,574		7,391	1.87		349,248		4,870	1.39		251,307		4,030	1.60

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		22,945		1,202	5.24		18,426		679	3.68		13,959		285	2.04
Governments and official institutions		7,418		238	3.21		5,327		97	1.82		2,218		31	1.40
Time, savings and other		31,603		661	2.09		27,739		275	0.99		19,027		216	1.14

Total foreign interest-bearing deposits		61,966		2,101	3.39		51,492		1,051	2.04		35,204		532	1.51

Total interest-bearing deposits		457,540		9,492	2.08		400,740		5,921	1.48		286,511		4,562	1.59

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		326,408		11,615	3.56		227,565		4,072	1.79		140,458		1,871	1.33
Trading account liabilities		57,689		2,364	4.10		35,326		1,317	3.73		37,176		1,286	3.46
Long-term debt		97,709		4,418	4.52		92,303		3,683	3.99		67,077		2,948	4.40

Total interest-bearing liabilities⁽³⁾		939,346		27,889	2.97		755,934		14,993	1.98		531,222		10,667	2.01

Noninterest-bearing sources:
Noninterest-bearing deposits		174,892					150,819					119,722
Other liabilities		55,793					53,063					48,069
Shareholders’ equity		99,861					84,815					50,091

Total liabilities and shareholders’ equity	$	1,269,892				$	1,044,631				$	749,104

Net interest spread					2.38					2.84					2.89
Impact of noninterest-bearing sources					0.46					0.33					0.37

Net interest income/yield on earning assets			$	31,569	2.84%			$	28,677	3.17%			$	21,149	3.26%

Footnote (1)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

Footnote (2)

Includes consumer finance of $3,137 million, $3,735 million and $4,137 million in 2005, 2004 and 2003, respectively; foreign consumer of $3,565 million, $3,020 million and $1,977 million in 2005, 2004 and 2003, respectively; and consumer lease financing of $206 million, $962 million and $2,751 million in 2005, 2004 and 2003, respectively.

Footnote (3)

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $704 million, $2,130 million and $2,581 million in 2005, 2004 and 2003, respectively. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $1,335 million, $1,452 million and $873 million in 2005, 2004 and 2003, respectively. For further information on interest rate contracts, see “Interest Rate Risk Management”.

Footnote (4)

Primarily consists of time deposits in denominations of $100,000 or more.

<< Previous: 2004 Compared to 2003 | Next: Table II >>

2005 Summary Annual Report: Form 10-K: Table I

Table I

Average Balances and Interest Rates—FTE Basis