BofA posts 37.5 percent decline in 1st-quarter profit

Reuters News
|
Posted: Apr 15, 2011 7:13 AM

CHARLOTTE, North Carolina (Reuters) - Bank of America Corp posted a 37.5 percent decline in first-quarter earnings, hurt by mortgage-related costs.

The largest U.S. bank reported net income of $2.0 billion, or 17 cents per share, compared with $3.2 billion, or 28 cents per share ,in the same quarter a year ago.

(Reporting by Joe Rauch, additional reporting by Dan Wilchins in New York; editing by John Wallace)