NEW YORK (Trefis) -- Bank of America (BAC) reported one of its better quarterly performances since the economic recession of 2008, with second-quarter earnings of just under $2.5 billion for the period.An improving credit environment combined with the bank's focused efforts on cutting down costs helped offset lower revenue from the overall slowdown in global markets the last three months. Investors, however, raised the red flag yet again over the bank's troubled mortgage portfolio, leading to a decline of more than 11% in Bank of America's share price within days of its earnings announcement. We stick to our
The fact that Bank of America's non-interest expenses have been on the decline over the last two quarters without a negative impact on revenue figures is indicative of the effectiveness of the cost-cutting measures. The bank's quarterly non-interest expenses fell to just above $17 billion from $19.1 billion in the first quarter and almost $23 billion in the second quarter of 2011. Click here to find out how a company's products have an impact on its stock price at Trefis. Like our charts? Embed them in your own posts using the TrefisWordpress Plugin. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.