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

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Table VIII

Quarterly Average Balances and Interest Rates—FTE Basis


	Fourth Quarter 2005⁽⁵⁾					Third Quarter 2005 (Restated)
(Dollars in millions)	Average Balance		Interest Income/ Expense		Yield/ Rate	Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	14,619	$	132	3.59%	$	14,498	$	125	3.43%
Federal funds sold and securities purchased under agreements to resell		165,908		1,477	3.55		176,650		1,382	3.12
Trading account assets		139,441		1,648	4.72		142,287		1,578	4.42
Securities		221,411		2,842	5.13		225,952		2,820	4.99
Loans and leases⁽¹⁾:
Residential mortgage		178,764		2,424	5.42		171,012		2,298	5.37
Credit card		56,858		1,747	12.19		55,271		1,651	11.85
Home equity lines		60,571		1,012	6.63		58,046		910	6.22
Direct/Indirect consumer		47,181		703	5.91		47,900		702	5.81
Other consumer⁽²⁾		6,653		184	11.01		6,715		170	10.05

Total consumer		350,027		6,070	6.90		338,944		5,731	6.73

Commercial—domestic		137,224		2,280	6.59		127,044		2,095	6.54
Commercial real estate		36,017		597	6.58		34,663		542	6.20
Commercial lease financing		20,178		241	4.79		20,402		239	4.69
Commercial—foreign		20,143		378	7.45		18,444		349	7.51

Total commercial		213,562		3,496	6.50		200,553		3,225	6.38

Total loans and leases		563,589		9,566	6.75		539,497		8,956	6.60

Other earning assets		40,582		596	5.83		38,745		542	5.57

Total earning assets⁽³⁾		1,145,550		16,261	5.65		1,137,629		15,403	5.39

Cash and cash equivalents		33,693					32,969
Other assets, less allowance for loan and lease losses		125,814					124,156

Total assets	$	1,305,057				$	1,294,754

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,535	$	68	0.76%	$	35,853	$	56	0.62%
NOW and money market deposit accounts		224,122		721	1.28		224,341		743	1.31
Consumer CDs and IRAs		120,321		1,029	3.39		130,975		1,094	3.31
Negotiable CDs, public funds and other time deposits		5,085		27	2.13		4,414		47	4.23

Total domestic interest-bearing deposits		385,063		1,845	1.90		395,583		1,940	1.95

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		24,451		355	5.77		19,707		292	5.89
Governments and official institutions		7,579		73	3.84		7,317		62	3.37
Time, savings and other		32,624		203	2.46		32,024		177	2.19

Total foreign interest-bearing deposits		64,654		631	3.87		59,048		531	3.57

Total interest-bearing deposits		449,717		2,476	2.18		454,631		2,471	2.16

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		364,140		3,855	4.20		339,980		3,190	3.72
Trading account liabilities		56,880		619	4.32		68,132		707	4.12
Long-term debt		99,601		1,209	4.85		98,326		1,102	4.48

Total interest-bearing liabilities⁽³⁾		970,338		8,159	3.34		961,069		7,470	3.09

Noninterest-bearing sources:
Noninterest-bearing deposits		179,205					178,140
Other liabilities		55,566					54,299
Shareholders’ equity		99,948					101,246

Total liabilities and shareholders’ equity	$	1,305,057				$	1,294,754

Net interest spread					2.31					2.30
Impact of noninterest-bearing sources					0.51					0.48

Net interest income/yield on earning assets			$	8,102	2.82%			$	7,933	2.78%


	Second Quarter 2005 (Restated)					First Quarter 2005 (Restated)					Fourth Quarter 2004 (Restated)
(Dollars in millions)	Average Balance		Interest Income/ Expense		Yield/ Rate	Interest Average Balance		Income/ Expense		Yield/ Rate	Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	13,696	$	113	3.31%	$	14,327	$	101	2.87%	$	15,620	$	128	3.24%
Federal funds sold and securities purchased under agreements to resell		185,835		1,249	2.69		147,855		904	2.46		149,226		699	1.87
Trading account assets		134,196		1,454	4.34		117,748		1,203	4.10		110,585		1,067	3.85
Securities		227,182		2,825	4.98		204,574		2,559	5.01		171,173		2,082	4.86
Loans and leases⁽¹⁾:
Residential mortgage		167,263		2,285	5.47		178,075		2,415	5.44		178,853		2,447	5.46
Credit card		52,474		1,481	11.32		51,310		1,373	10.85		49,366		1,351	10.88
Home equity lines		54,941		799	5.83		51,477		692	5.45		48,336		609	5.01
Direct/Indirect consumer		43,132		612	5.69		41,620		573	5.58		39,526		551	5.55
Other consumer⁽²⁾		6,968		155	8.96		7,305		158	8.75		7,557		153	8.07

Total consumer		324,778		5,332	6.58		329,787		5,211	6.38		323,638		5,111	6.29

Commercial—domestic		123,927		1,938	6.27		123,803		1,954	6.40		121,412		1,883	6.17
Commercial real estate		33,484		477	5.72		33,016		430	5.29		31,355		392	4.98
Commercial lease financing		20,446		252	4.93		20,745		260	5.01		20,204		254	5.01
Commercial—foreign		17,780		306	6.90		17,570		259	5.97		18,828		272	5.76

Total commercial		195,637		2,973	6.09		195,134		2,903	6.03		191,799		2,801	5.81

Total loans and leases		520,415		8,305	6.40		524,921		8,114	6.25		515,437		7,912	6.12

Other earning assets		37,194		512	5.52		35,466		455	5.19		35,937		457	5.08

Total earning assets⁽³⁾		1,118,518		14,458	5.18		1,044,891		13,336	5.14		997,978		12,345	4.93

Cash and cash equivalents		34,731					31,382					31,028
Other assets, less allowance for loan and lease losses		124,229					124,586					123,518

Total assets	$	1,277,478				$	1,200,859				$	1,152,524

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	38,043	$	52	0.54%	$	37,000	$	35	0.39%	$	36,927	$	36	0.39%
NOW and money market deposit accounts		229,174		723	1.27		233,392		651	1.13		234,596		589	1.00
Consumer CDs and IRAs		127,169		1,004	3.17		118,989		965	3.29		109,243		721	2.63
Negotiable CDs, public funds and other time deposits		7,751		82	4.22		10,291		95	3.73		7,563		81	4.27

Total domestic interest-bearing deposits		402,137		1,861	1.86		399,672		1,746	1.77		388,329		1,427	1.46

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		25,546		294	4.61		22,085		260	4.77		17,953		200	4.43
Governments and official institutions		7,936		59	2.97		6,831		43	2.58		5,843		33	2.21
Time, savings and other		30,973		149	1.94		30,770		133	1.75		30,459		104	1.36

Total foreign interest-bearing deposits		64,455		502	3.13		59,686		436	2.96		54,255		337	2.47

Total interest-bearing deposits		466,592		2,363	2.03		459,358		2,182	1.93		442,584		1,764	1.59

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		323,916		2,582	3.20		276,483		1,988	2.91		252,413		1,452	2.29
Trading account liabilities		60,987		611	4.02		44,507		427	3.89		37,387		352	3.74
Long-term debt		96,697		1,074	4.45		96,167		1,033	4.30		98,556		1,020	4.14

Total interest-bearing liabilities⁽³⁾		948,192		6,630	2.80		876,515		5,630	2.60		830,940		4,588	2.20

Noninterest-bearing sources:
Noninterest-bearing deposits		174,001					168,062					167,352
Other liabilities		56,456					56,881					55,509
Shareholders’ equity		98,829					99,401					98,723

Total liabilities and shareholders’ equity	$	1,277,478				$	1,200,859				$	1,152,524

Net interest spread					2.38					2.54					2.73
Impact of noninterest-bearing sources					0.42					0.42					0.37

Net interest income/yield on earning assets			$	7,828	2.80%			$	7,706	2.96%			$	7,757	3.10%

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 $2,916 million, $3,063 million, $3,212 million and $3,362 million in the fourth, third, second and first quarters of 2005, respectively, and $3,473 million in the fourth quarter of 2004; foreign consumer of $3,682 million, $3,541 million, $3,505 million and $3,532 million in the fourth, third, second and first quarters of 2005, respectively, and $3,523 million in the fourth quarter of 2004; and consumer lease financing of $55 million, $111 million, $251 million and $411 million in the fourth, third, second and first quarters of 2005, respectively, and $561 million in the fourth quarter of 2004.

Footnote (3)

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $29 million, $86 million, $168 million and $421 million in the fourth, third, second and first quarters of 2005, respectively, and $439 million in the fourth quarter of 2004. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $254 million, $274 million, $303 million and $504 million in the fourth, third, second and first quarters of 2005, respectively, and $295 million in the fourth quarter of 2004. 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.

Footnote (5)

The Corporation provided unaudited financial information relating to the fourth quarter of 2005 in its current report on Form 8-K filed on January 23, 2006.

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

Table VIII

Quarterly Average Balances and Interest Rates—FTE Basis