On a per-share basis, the bank has lost money the last two years.
Without those charges, the company said, earnings for the quarter would have been up 12 percent on a per-share basis.
Earnings on a per-share basis rose from $1.26 to $1.28 as Disney bought back stock.
On a per-share basis, the earnings would have been $1.83 versus $1.99.
On a per-share basis, earnings would have jumped 13 percent, to $1.64 from $1.45.
On a per-share basis, Morgan earned 96 cents, down from $1.52 a year earlier.
On a per-share basis, Merrill earned $4.75 for all of 1994, down from $5.98 a share in 1993.
On a per-share basis the net loss to common shareholders was cut more than half, to 86 cents, from $1.91 a year earlier.
On a per-share basis, net income for the quarter rose to $3.70 from $1.39.
The company essentially broke even on a per-share basis for the second quarter in a row.