The 30 bp decline in Bank of America's (BAC) net interest margin represents $1.27B in lost...

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

The 30 bp decline in Bank of America's (BAC) net interest margin represents $1.27B in lost quarterly earnings power, says Josh Steiner, a "hit (that) is recurring, not one time." This deterioration in bank's underlying business may help explain the sharp decline in the stock (-4% today,  -4.8% yesterday) despite a headline beat on earnings thanks to a large reserve release.