Bank of America Corp (BAC): 3 Reasons to Hate the Report

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Net interest income and margins are dropping
Bank of America saw its net interest income fall from $11.1 billion in the year-ago quarter to $10.9 billion this past quarter. In addition, the net interest margin also decreased, from 2.51% a year ago, to 2.43% in the first quarter of 2013. The bank notes that the decrease in income is from lower consumer loan balances — and, considering its lack of new mortgage activity, isn’t surprising. But, it’s not the best way to start off a new year of earnings, either.

Overall, the report had many positives, but the negatives are weighty, and need addressing. Despite laudable progress, it is apparent that Bank of America Corp (NYSE:BAC) still has much work to do.

The article Three Reasons to Hate the Bank of America Earnings Report originally appeared on Fool.com.

Fool contributor Amanda Alix has no position in any stocks mentioned. The Motley Fool recommends Wells Fargo. The Motley Fool owns shares of Bank of America, JPMorgan Chase, and Wells Fargo.

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