* At the same time Bank of America, the largest U.S. bank, posted a $1.79 billion fourth-quarter loss, excluding Merrill Lynch, a report which underscored the continuing impact of fallout from the credit crisis.

* Separately, Citigroup posted a fourth-quarter net loss of $8.29 billion, and said it would split into two operating units. Citigroup shares rose more than 8.6 percent before the bell to $4.16, while Bank of America gained 7.6 percent to $8.95.

* Dow industrial futures climb 143 points, while S&P 500 gained 15.50 points, and Nasdaq futures advanced 20.75.

(Reporting by Ellis Mnyandu; Editing by Theodore d'Afflisio)