BofA Profit Soars As Loan-Loss Provision Falls

(Undated) -- Bank of America is reporting a very profitable fourth quarter. The nation's second-largest bank says the numbers were propelled by a steep drop in provisions to cover bad loans. BofA's fourth-quarter net income was three-point-18 billion dollars, or 29 cents per share. In the fourth quarter of 2012, net income was 367-million dollars, or three cents per share. BofA's stock rose on the news in premarket trading.