Bank of America Reports First-quarter 2015 Net Income of $3.4 Billion, or $0.27 per Diluted Share 

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

Bank of America Results:

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^(A)
• 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^(B)

Record Capital and Liquidity Levels

• Estimated Common Equity Tier 1 Ratio Under Basel 3 (Standardized Approach, Fully Phased-in) 10.3 Percent; Advanced Approaches 10.1 Percent^(C)
• Estimated Supplementary Leverage Ratios Above 2018 Required Minimums, With Bank Holding Company at 6.3 Percent and Primary Bank at 7.1 Percent^(D)
• Record Global Excess Liquidity Sources of $478 Billion, up $51 Billion From Q1-14; Time-to-required Funding at 37 Months
• Consolidated Liquidity Coverage Ratio Exceeds 2017 Requirements^(E)
• Tangible Book Value per Share Increased 7 Percent From Q1-14 to $14.79 per Share^(F)
• Book Value per Share Increased 4 Percent From Q1-14 to $21.66 per Share

Source: Bank of America 

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