On Monday Bank of America reported a big growth in troubled loans, in spite of the fact its Merrill Lynch & Co acquisition encouraged first-quarter profit to more than double. Of course this report disappointed the bank’s investors.

The report says the results were supported by one-time events, such as a $1.9 billion gain from selling shares of China Construction Bank Corp and $2.2 billion received from widening credit spreads. Meanwhile, nonperforming assets grew 41% from the end of the previous year, totaling $25.74 billion.

Bank of America shares dropped to $10.00 losing 5.7% in premarket trading. Common shareholders’ of Charlotte, North Carolina-based Bank of America, net income grew to $2.81 billion, or 44 cents per share, from $1.02 billion, or 23 cents, in a previous year. Net income more than doubled to $35.76 billion.

Excluding items, profit made up 17 cents per share, compared with analysts' average forecast of 4 cents, as for the Reuters Estimates.

Before the impact of preferred stock dividends, net income more than tripled to $4.25 billion from $1.21 billion.

Walter Todd, a portfolio manager at Greenwood Capital Associates LLC, invested $650 million and owns BofA shares, said "I don't see anything that makes me think all of a sudden people are going to take the pressure off Lewis. The biggest question I have is, what is going on with these nonperforming assets?"