by Calculated Risk on 7/21/2008 09:35:00 AM

From the WSJ: Bank of America's Net Slides, But Results Beat Expectations

Bank of America reported write-downs of $1.22 billion related to market disruptions, down from $2.81 billion in the first quarter.

Credit-loss provisions more than tripled to $5.83 billion from $1.81 billion a year ago amid rising costs in the home-equity, small-business and home-builder portfolios.
...
Net charge-offs, loans it doesn't think are collectable, jumped to 1.67% from 0.81% of total average loans and leases a year ago and 1.25% in the first quarter, reflecting housing market deterioration and slowing economic conditions. Nonperforming assets surged to 1.13% from 0.32% a year ago and 0.9% in the first quarter.

This does not include Countrywide's results.