More on BofA (BAC): Net interest income -14.9% Y/Y as net interest margin declines 30 bps to...

|About: Bank of America Corporation (BAC)|By:, SA News Editor

More on BofA (BAC): Net interest income -14.9% Y/Y as net interest margin declines 30 bps to just 2.21%. Cost-cutting: Non-interest expenses -11% sequentially, and -25.8% Y/Y. Reserve release accounted for $0.11 (vs. $0.07 expected) of $0.19 earnings for the quarter. Tier 1 capital ratio under Basel III of 8.1%. Shares +2% premarket. (PR)