3 Important Things We Just Learned From Bank of America
Bank of America (NYSE: BAC) reported first-quarter earnings earlier this week, and there were several important things to note. Although the bank's results topped analyst expectations, its stock fell after its report.
Below, I'll dive into those metrics and why they could be important to keep an eye on.
Bank of America's net interest income (NII) fell 3% in the quarter to $14.2 billion on a fully taxable equivalent basis, down from $14.6 billion a year earlier. NII is the difference what the company earns on its loans compared to what it pays for deposits and other funds; it's the company's largest source of income.
Source Fool.com
