Bank of America’s diluted earnings per share fell 28% to $3.30 from $4.59 in 2006. In the fourth quarter of 2007 net income was $268 million, or $0.05 per diluted share, compared with $5.26 billion, or $1.16 a share, in the comparable period a year ago. The quarter included results from LaSalle Bank, which Bank of America purchased in October 2007.
Kenneth Lewis, chairman and CEO of Bank of America, said: Our fourth quarter results were severely impacted by ongoing dislocations in capital markets and the slowing economy. Even given that environment, we certainly are not pleased with our performance. However, we are cautiously optimistic about 2008, though we believe economic growth will be anemic at best in the first half.
