BankAmerica Reports 12% Increase in Earnings Per Share for 1994

Strategic Insights -

BankAmerica Corporation achieved a strong financial performance in 1994, with earnings per share increasing by 12% to $5.36. This growth was driven by a 11% increase in net income to $2,176 million, with fourth-quarter earnings per share reaching $1.41. The corporation's net interest income for the fourth quarter was up $147 million, reflecting the effects of mergers and acquisitions and continued growth in the loan portfolio. However, noninterest income for the quarter decreased due to declines in trading income and reduced income from assets pending disposition.

Key Takeaways:

  • Earnings per share increased by 12% to $5.36 in 1994, compared to $4.79 in 1993.
  • Net income for 1994 was $2,176 million, up 11% from $1,956 million in 1993.
  • Fourth-quarter earnings per share were $1.41, an increase of 16% from $1.21 in the fourth quarter of 1993.
  • Net interest income for the fourth quarter of 1994 was up $147 million, driven by mergers and acquisitions and loan portfolio growth.
  • Noninterest income for the fourth quarter of 1994 decreased due to declines in trading income and reduced income from assets pending disposition.
  • Total loans at December 31, 1994 were up $2.2 billion from the previous quarter, reflecting the corporation's efforts to expand and diversify the loan portfolio.
  • The corporation's nonaccrual assets at December 31, 1994 remained essentially unchanged from the previous quarter.

Statistics:

  • Earnings per share: $5.36 (1994), $4.79 (1993)
  • Net income: $2,176 million (1994), $1,956 million (1993)
  • Fourth-quarter earnings per share: $1.41 (1994), $1.21 (1993)
  • Net interest income: $591 million (1994), $444 million (1993)
  • Noninterest income: $276 million (1994), $344 million (1993)
  • Total loans: $2.2 billion (December 31, 1994), $0 billion (December 31, 1993)

Sources:

  • BUSINESS WIRE, "BankAmerica Corporation Announces 1994 Earnings" (Jan. 18, 1995)
  • BUSINESS WIRE, "BankAmerica Corporation Announces 1993 Earnings" (Jan. 19, 1994)