Bank of America Corp., Charlotte, N.C., has reported a tripling of mortgage banking income in the third quarter along with record earnings of $2.92 billion ($1.92 per share), an increase of more than 30% from $2.24 billion ($1.45 per share) a year earlier.Mortgage banking income totaled $666 million in the quarter, an increase of 203%, BoA said. Noninterest income increased 38% to $4.44 billion, driven by growth in mortgage banking, credit card, and investment banking income, as well as improvements in equity investments and increases in trading account profits, the company said. BoA can be found online at http://www.bankofamerica.com.
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