Economic and financial information

bank of america audited financial statements

However, exceedingly high-interest rates might hurt the economy and lead to lower demand for credit, thus reducing a bank’s net income. In the above table, BofA earned $58.5 billion in interest income from loans and investments while simultaneously paying out $12.9 billion in interest for deposits . Financial statements are written records that convey the business activities and the financial performance of a company. Arriving at the provision for loan losses involves a high degree of judgment, representing management’s best evaluation of the appropriate loss to reserve. Because it is a management judgment, the provision for loan losses can be used to manage a bank’s earnings. Looking at the income statement above, we see that the loan-loss provision ultimately reduced the bank’s net income or profit. Banking is a highly-leveraged business requiring regulators to dictate minimal capital levels to help ensure the solvency of each bank and the banking system.

However, once investors have a solid understanding of how banks earn revenue and how to analyze what’s driving that revenue, bank financial statements are relatively easy to grasp. Affiliates of Bank of America may make a market or deal as principal in the securities mentioned in these Sites or in options based thereon. In addition, Bank of America or its Affiliates, their shareholders, directors, officers and/or employees, may from time to time have long or short positions in such securities or in options, futures or other derivative instruments based thereon. One or more directors, officers and/or employees of Bank of America or its Affiliates may be a director of the issuer of the securities mentioned at these Sites. The IDB produces an annual report describing its activities and operations during the previous year. Annual reports also include financial statements and a review of institutional aspects of the Bank. However, for bank, interest earned, net interest income, non-interest income and net income are the most common description .

Published Financial Statements (2021 &

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  • Annual reports also include financial statements and a review of institutional aspects of the Bank.

Investors should monitor whether there’s an upward trend in loan-loss provisions as it might indicate that management expects an increasing number of problem loans. Substantially higher loan and lease losses might cause a bank to report a loss in income. Also, regulators could place a bank on a watch list and possibly require that it take further corrective action, such as issuing additional capital.

Bank Of America Financial Statements 2009-2022 | BAC

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