8-KEarnings & ResultsRegulation FDOther Events+1

BANK OF AMERICA CORP /DE/ 8-K Report, Financial Results (Jan 20, 2010)

Filed January 20, 2010For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

Bank of America Corporation (BAC) filed an 8-K on January 20, 2010, to report its financial results for the fourth quarter and full year ended December 31, 2009. The report indicates a net loss of $194 million, or $0.60 per diluted share, for the fourth quarter. However, for the full year, the company reported a net income of $6.28 billion, translating to $0.29 per diluted share. This filing includes the press release detailing these results and supplemental information provided during an investor conference call. While the fourth quarter showed a loss, the full-year profitability suggests a recovery or resilience in BAC's operations during a challenging economic period. Investors should note the divergence between quarterly and annual performance and review the supplemental materials for a deeper understanding of the factors influencing these results.

Key Highlights

  • 1Reported a net loss of $194 million for the fourth quarter of 2009.
  • 2Diluted loss per common share was $0.60 for the fourth quarter of 2009.
  • 3Announced a full-year net income of $6.28 billion for 2009.
  • 4Diluted earnings per common share for the full year 2009 was $0.29.
  • 5The filing includes the press release (Exhibit 99.1) announcing these financial results.
  • 6Supplemental information (Exhibit 99.2) for an investor conference call is also furnished.

Frequently Asked Questions

For the fourth quarter of 2009, Bank of America reported a net loss of $194 million, or $0.60 per diluted share. For the full year ended December 31, 2009, the company reported a net income of $6.28 billion, or $0.29 per diluted share.

The difference highlights that while the fourth quarter experienced a net loss, the company was profitable for the entire year. This suggests that performance in other quarters of 2009 was strong enough to offset the Q4 loss and result in overall annual profitability. Investors should examine the supplemental materials for details on what drove the Q4 loss and the full-year success.

This 8-K filing incorporates by reference the press release detailing the financial results (Exhibit 99.1) and a supplemental information package (Exhibit 99.2) that was used during an investor conference call on January 20, 2010. These documents provide further details on the company's performance.