Bank of America's earnings top expectations, excluding tax charge; shares rise

Brian Moynihan, Bank of America

Christopher Goodney | Bloomberg | Getty Images

Brian Moynihan, Bank of America

Net interest income rose 11 percent to $11.5 billion in the fourth quarter, helped by higher interest rates and loan and deposit growth. Net charge-offs rose to $1.2 billion, “primarily driven by a single-name non-U.S. commercial charge-off totaling $292 million,” according to a release.

“Client activity was strong across all of our businesses in 2017,” CFO Paul M. Donofrio said in the release. “Our balance sheet remains strong and we believe we are well positioned for growth.”

Analysts were watching for the impact of low volatility and the new tax…

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