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Thursday, Jan 17
More on Bank of America (BAC) Q4 earnings: Net interest margin of 2.35%, up from 2.32% in Q3,...
More on Bank of America (BAC) Q4 earnings: Net interest margin of 2.35%, up from 2.32% in Q3, down from 2.45% a year ago. Mortgage business up 41% from a year ago, but this excludes $6.5B in correspondent loans in 2011 Q4. Credit loss provision off 25% Y/Y to $963M as credit performance improved across all lending segments (delinquent 1st mortgages -17% Y/Y). Tangible book value/share of $13.36 is down from $13.48 in Q3, up from $12.95 a year ago. Tier 1 capital ratio 11.06%. Shares back to flat premarket. (PR)