Bank of America, Rhode Island, National Association in Providence, Rhode Island (RI)
Overview, Financial Summary, Detailed Financial Reports, Branches

  • Bank of America, Rhode Island, National Association in Providence, Rhode Island (RI)
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Bank of America, Rhode Island, National Association - Overview

  • General
  • FDIC Certificate #: 58032
    Status: Active
    Federal Reserve ID: 3344611
    Bank Holding Company (Regulatory Top Holder): Bank Of America Corporation (RSSDID: 1073757, Location: Charlotte, NC)
    Date Established: June 03, 2005
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, national (federal) charter and Fed member, supervised by the Office of the Comptroller of the Currency (OCC)
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 436934
    Numeric code: 3
    Regulator: OCC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: No
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Mortgage Lending Specialization
    Date of Deposit Insurance: June 03, 2005
    Last Structure Change Effective Date: January 16, 2009
    Last Structure Change Process Date: November 24, 2009
    Last Data Update: November 24, 2009
    Data Source Date: April 05, 2012
  • Location
  • Address: 111 Westminister Street, Providence, RI 2903
    County: Providence
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: Washington
    FDIC Field Office: South Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Providence-Fall River-Warwick, RI-MA (#6480)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Providence-New Bedford-Fall River, RI-MA (#39300)
    CBSA Metro Statistical Area: Providence-New Bedford-Fall River, RI-MA (#39300)
  • History of Changes
  • Participated in Open Bank Assistance
  • Financial Summary
  • Total assets: $17,770.0 mil
    Equity capital: $2,197.7 mil
    Deposits held in domestic offices: $15,134.5 mil
    Return on assets (ROA): 1.11% ($197.2 mil)
    Quarterly return on assets: 1.16% ($206.1 mil)
    Return on Equity (ROE): 9.74% ($214.1 mil)
    Quarterly return on equity: 9.55% ($209.9 mil)
    Net income: $204.3 mil
    Quarterly Net income: $51.9 mil
    Pretax return on assets: 1.76% ($312,751.2 mil)
    Quarterly Pretax return on assets: 1.85% ($328,744.2 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 0Total employees (full-time equivalent)
  • $17,769,956Total assets
  • $3,189,331Cash and due from depository institutions
  • $3,186,713Interest-bearing balances
  • $0Securities
  • $2,025Federal funds sold & reverse repurchase agreements
  • $12,905,264Net loans & leases
  • $222,425Loan loss allowance
  • $0Trading account assets
  • $0Bank premises and fixed assets
  • $66,226Other real estate owned
  • $128,800Goodwill and other intangibles
  • $17,769,956Life insurance assets
  • $1,478,310All other assets
  • $15,572,236Total liabilities and capital
  • $15,134,471Total liabilities
  • $15,134,471Total deposits
  • $15,134,471Interest-bearing deposits
  • $100Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $195,843Trading liabilities
  • $0Other borrowed funds
  • $241,922Subordinated debt
  • $2,197,720All other liabilities
  • $2,197,720Total equity capital
  • $2,197,720Total bank equity capital
  • $0Perpetual preferred stock
  • $310,000Common stock
  • $1,499,019Surplus
  • $388,701Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $1,321,325Income earned, not collected on loans
  • $0Earning assets
  • $61,790Long-term assets (5+ years)
  • $16,094,002Average Assets, year-to-date
  • $8,686,041Average Assets, quarterly
  • $18,485,940Volatile liabilities
  • $17,918,332Insider loans
  • $7,596,323FHLB advances
  • $17,579,679Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $2,068,920Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $0Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $668,688Total interest income
  • $47,906Total interest expense
  • $620,782Net interest income
  • $230,921Provision for loan and lease losses
  • $30,011Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $0Trading account gains & fees
  • $30,011Additional noninterest income
  • $95,331Total noninterest expense
  • $0Salaries and employee benefits
  • $0Premises and equipment expense
  • $95,331Additional noninterest expense
  • $324,541Pre-tax net operating income
  • $0Securities gains (losses)
  • $120,210Applicable income taxes
  • $204,331Income before extraordinary items
  • $0Extraordinary gains - net
  • $204,331Net income attributable to bank
  • $0Net charge-offs
  • $204,331Cash dividends
  • $239,588Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.96%Yield on earning assets
  • 0.28%Cost of funding earning assets
  • 3.68%Net interest margin
  • 0.18%Noninterest income to earning assets
  • 0.57%Noninterest expense to earning assets
  • 1.11%Net operating income to assets
  • 1.11%Return on assets (ROA)
  • 1.76%Pretax return on assets
  • 9.74%Return on equity (ROE)
  • 9.74%Retained earnings to average equity (YTD only)
  • 1.68%Net charge-offs to loans
  • 96.38%Credit loss provision to net charge-offs
  • 2.32%Efficiency ratio
  • 11,821Assets per employee
  • 0.00%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 1.69%Loss allowance to noncurrent loans
  • 16.83%Noncurrent assets plus other real estate owned to assets
  • 7.81%Noncurrent loans to loans
  • 10.07%Net loans and leases to deposits
  • 85.27%Net loans and leases to core deposits
  • 107.50%Equity capital to assets
  • 12.37%Core capital (leverage) ratio
  • 11.77%Tier 1 risk-based capital ratio
  • 27.24%Total risk-based capital ratio
  • Memoranda
  • $29Average assets
  • $18,485,940Average earning assets
  • $2,097,065Average equity
  • $16,868,951Average loans

List of branches

  • 1 Rhode Island Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    0436934Bank Of America, Rhode Island, National Association111 Westminister Street, Providence, RI 2903June 03, 2005Full Service Brick and Mortar

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