"Last year was a necessary repair and rebuilding year," said Chief Executive Brian Moynihan in a prepared statement. "Our results reflect the progress we are making at putting legacy -- primarily mortgage-related -- issues behind us."
The bank posted a fourth quarter shareholder loss of $1.57 billion, or 16 cents a share, compared with a loss of $5.2 billion, or 60 cents a share, a year earlier. Last year's results included a one-time Troubled Asset Relief Program-related charge of $4 billion.
Excluding the mortgage business writedown, the bank earned $756 million, or 4 cents per share.
Analysts projected earnings of 14 cents per share, according to Thomson Reuters I/B/E/S.
Total revenues decreased 11 percent to $22.7 billion.
The bank's fourth-quarter results were the second straight to include large charges.
In third quarter, the bank reported a $10 billion writedown of its cards business after the U.S. Congress approved a financial reform bill that includes curbs on debit card fees banks can charge merchants."
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