# EDGAR Filing Document

**Accession Number:** 0000070858
**File Stem:** 0000070858-26-000011
**Filing Date:** 2026-1
**Character Count:** 130584
**Document Hash:** aca7d3503949ccb30aa464a164cbff12
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000070858-26-000011.hdr.sgml**: 20260106

**ACCESSION NUMBER**: 0000070858-26-000011

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20260106

**ITEM INFORMATION**: Regulation FD Disclosure

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260106

**DATE AS OF CHANGE**: 20260106

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BANK OF AMERICA CORP /DE/
- **CENTRAL INDEX KEY:** 0000070858
- **STANDARD INDUSTRIAL CLASSIFICATION:** NATIONAL COMMERCIAL BANKS [6021]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 560906609
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-06523
- **FILM NUMBER:** 26512368

**BUSINESS ADDRESS:**
- **STREET 1:** BANK OF AMERICA CORPORATE CENTER
- **STREET 2:** 100 N TRYON ST
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28255
- **BUSINESS PHONE:** 7043868486

**MAIL ADDRESS:**
- **STREET 1:** BANK OF AMERICA CORPORATE CENTER
- **STREET 2:** 100 N TRYON ST
- **CITY:** CHARLOTTE
- **STATE:** NC
- **ZIP:** 28255

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BANKAMERICA CORP/DE/
- **DATE OF NAME CHANGE:** 19981022

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NATIONSBANK CORP
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** NCNB CORP
- **DATE OF NAME CHANGE:** 19920107

?xml version='1.0' encoding='ASCII'? bac-20260106

 **As filed with the Securities and Exchange Commission on January 6, 2026** 

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**WASHINGTON, D.C. 20549**

**FORM 8-K** 

**CURRENT REPORT**

**PURSUANT TO SECTION 13 OR 15(d) OF THE**

**SECURITIES EXCHANGE ACT OF 1934**

Date of Report (Date of earliest event reported):

January 6, 2026

**BANK OF AMERICA CORPORATION** 

**(Exact name of registrant as specified in its charter)**

---

| | | |
|:---|:---|:---|
| **Delaware** | **1-6523** | **56-0906609** |
| **(State or Other Jurisdiction of Incorporation)** | **(Commission File Number)** | **(IRS Employer Identification No.)** |

---

**100 North Tryon Street** 

**Charlotte, North Carolina 28255** 

**(Address of principal executive offices)**

**(704) 386-5681** 

**(Registrant's telephone number, including area code)**

**Not Applicable** 

**(Former name or former address, if changed since last report)**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

------

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common Stock, par value $0.01 per share | BAC | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E | BAC PrE | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG | BAC PrB | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH | BAC PrK | New York Stock Exchange |
| 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L | BAC PrL | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,200th interest in a share of | BML PrG | New York Stock Exchange |
| Bank of America Corporation Floating Rate Non-Cumulative |  |  |
| Preferred Stock, Series 1 |  |  |
| Depositary Shares, each representing a 1/1,200th interest in a share of | BML PrH | New York Stock Exchange |
| Bank of America Corporation Floating Rate Non-Cumulative |  |  |
| Preferred Stock, Series 2 |  |  |
| Depositary Shares, each representing a 1/1,200th interest in a share of | BML PrJ | New York Stock Exchange |
| Bank of America Corporation Floating Rate Non-Cumulative |  |  |
| Preferred Stock, Series 4 |  |  |
| Depositary Shares, each representing a 1/1,200th interest in a share of | BML PrL | New York Stock Exchange |
| Bank of America Corporation Floating Rate Non-Cumulative  |  |  |
| Preferred Stock, Series 5 |  |  |
| Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto) | BAC/PF | New York Stock Exchange |
| 5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto) | BAC/PG | New York Stock Exchange |
| Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation | MER PrK | New York Stock Exchange |
| Senior Medium-Term Notes, Series A, Step Up Callable Notes, due | BAC/31B | New York Stock Exchange |
| November 28, 2031 of BofA Finance LLC (and the guarantee of the |  |  |
| Registrant with respect thereto) |  |  |
| Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK | BAC PrM | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL | BAC PrN | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN | BAC PrO | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP | BAC PrP | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ | BAC PrQ | New York Stock Exchange |
| Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS | BAC PrS | New York Stock Exchange |

---

---

| | |
|:---|:---|
| Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2). | |
| Emerging growth company | ☐ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

------

**ITEM 7.01. REGULATION FD DISCLOSURE.**

Bank of America Corporation (the "Corporation") has elected to change its accounting methods related to its tax-related affordable housing, eligible wind renewable energy and solar renewable energy equity investments. The Corporation determined that the new accounting methods are preferable as they better align the financial statement presentation with the economic impact of these equity investments.

For its affordable housing and eligible wind renewable energy equity investments, the Corporation is changing its accounting from the equity method of accounting to the proportional amortization method (PAM). Under PAM, the cost of the equity investments is amortized in proportion to the related income tax benefits and classified in income tax expense, whereas previously the cost of the equity investments was determined using the equity method of accounting and classified in noninterest income – other income.

For its solar renewable energy equity investments, the Corporation is changing its accounting for the investment tax credits (ITCs) where the ITCs and applicable equity investment expense are recognized over the productive life of the underlying facilities, whereas previously the ITCs and applicable expense were recognized when the facilities were placed in service. As part of this accounting change, the Corporation is also electing to report the ITCs in noninterest income – other income against the related equity investment expense.

The primary impact of the accounting changes described above is a reclassification between income statement line items. Following is a summary of the reclassifications between certain income statement lines to implement the accounting change:

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Year Ended | Year Ended | Third | Second | First | Fourth | Third | Second | First |
| | December 31 | December 31 | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter | Quarter |
| (in millions) | 2024 | 2023 | 2025 | 2025 | 2025 | 2024 | 2024 | 2024 | 2024 |
| **Impact to total revenue, net of interest expense:** | **Impact to total revenue, net of interest expense:** |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Noninterest income - as previously reported | $45827 | $41650 | $12855 | $11793 | $12923 | $10988 | $11378 | $11675 | $11786 |
| &nbsp;&nbsp;Adjustment | 3969 | 4188 | 952 | 980 | 881 | 1128 | 868 | 928 | 1045 |
| &nbsp;&nbsp;Noninterest income - revised | $49796 | $45838 | $13807 | $12773 | $13804 | $12116 | $12246 | $12603 | $12831 |
| **Impact to income tax expense:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Income tax expense - as previously reported | $2122 | $1827 | $987 | $572 | $720 | $443 | $428 | $663 | $588 |
| &nbsp;&nbsp;Adjustment | 4128 | 4398 | 1089 | 926 | 917 | 987 | 1053 | 1022 | 1066 |
| &nbsp;&nbsp;Income tax expense - revised | $6250 | $6225 | $2076 | $1498 | $1637 | $1430 | $1481 | $1685 | $1654 |

---

In addition, the accounting changes have an insignificant impact on net income on an annualized basis, which were applied retrospectively through cumulative adjustment to retained earnings. As a result, retained earnings as of September 30, 2025 decreased $1.7 billion from the previously reported amount, reflecting the cumulative impact of the timing difference in expense recognition under the new accounting methods. This timing difference is expected to reverse over the remaining life of the investments.

Under the applicable bank regulatory rules, the Corporation is not required to and, accordingly, will not revise previously filed regulatory capital ratios. However, the cumulative impact of the changes in accounting methods would have resulted in an estimated $2.1 billion decrease in the Corporation's Common equity tier 1 capital due to the above-referenced impact to retained earnings as well as deferred tax effects, which would have resulted in a decrease of 13 basis points to the Common equity tier 1 ratio as of September 30, 2025. Additionally, the effective tax rate for the third quarter of 2025 would have been an estimated 20.0% compared to 10.4% previously reported.

The information contained in this Form 8-K has been prepared by, and is the responsibility of, the Corporation and is being furnished to assist investors in understanding how the changes in accounting methods, which are discussed above, affected the Corporation's previously filed Consolidated Statements of Income and Consolidated Balance Sheets. The information related to the changes in accounting methods is preliminary and based on company data available at the time this Form 8-K is furnished.

------

Financial information presented in the Revised Supplemental Information for the prior quarters of 2025 and 2024, as well as the full years 2024 and 2023, has been updated to reflect the changes in accounting methods and is attached hereto as Exhibit 99.1. This Revised Supplemental Information is being furnished pursuant to Item 7.01, and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall the Revised Supplemental Information be deemed incorporated by reference into any filings under the Securities Act of 1933, as amended.

**ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.**

**(d) Exhibits.**

Exhibit 99.1 is furnished herewith.

---

| | |
|:---|:---|
| **EXHIBIT NO.** | **DESCRIPTION OF EXHIBIT** |
| <u>[99.1](a162026tax-relatedequityin.htm)</u> | <u>[Revised Supplemental Information to Reflect Changes in Accounting Methods for Certain Tax-related Equity Investments](a162026tax-relatedequityin.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL) |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | |
|:---|:---|
| **BANK OF AMERICA CORPORATION** | **BANK OF AMERICA CORPORATION** |
| By: | /s/ Johnbull E. Okpara |
|  | Johnbull E. Okpara |
|  | Chief Accounting Officer |

---

Dated: January 6, 2026

## Exhibit 99.1

**Exhibit 99.1**

![baclogo2020.jpg](baclogo2020.jpg)

**Revised Supplemental Information**

**to Reflect Changes in Accounting Methods**

**for Certain Tax-related Equity Investments**

**&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**

This information is preliminary and based on company data available at the time this Form 8-K is furnished. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided.

------

---

| | |
|:---|:---|
| **Bank of America Corporation and Subsidiaries**<br>**Table of Contents** |<br>**Page** |
| <u>[Consolidated Financial Highlights](#i56f59d311cc04f92b4daad2a1d20e421_4)</u> | <u>[2](#i56f59d311cc04f92b4daad2a1d20e421_4)</u> |
| <u>[Consolidated Statement of Income](#i56f59d311cc04f92b4daad2a1d20e421_7)</u> | <u>[3](#i56f59d311cc04f92b4daad2a1d20e421_7)</u> |
| <u>[Consolidated Statement of Comprehensive Income](#i56f59d311cc04f92b4daad2a1d20e421_10)</u> | <u>[3](#i56f59d311cc04f92b4daad2a1d20e421_10)</u> |
| <u>[Net Interest Income and Noninterest Income](#i56f59d311cc04f92b4daad2a1d20e421_13)</u> | <u>[4](#i56f59d311cc04f92b4daad2a1d20e421_13)</u> |
| <u>[Consolidated Balance Sheet](#i56f59d311cc04f92b4daad2a1d20e421_16)</u> | <u>[5](#i56f59d311cc04f92b4daad2a1d20e421_16)</u> |
| <u>[Quarterly Average Balances and Interest Rates](#i56f59d311cc04f92b4daad2a1d20e421_25)</u> | <u>[6](#i56f59d311cc04f92b4daad2a1d20e421_25)</u> |
| <u>[Supplemental Financial Data](#i56f59d311cc04f92b4daad2a1d20e421_31)</u> | <u>[9](#i56f59d311cc04f92b4daad2a1d20e421_31)</u> |
| <u>[Quarterly Results by Business Segment and All Other](#i56f59d311cc04f92b4daad2a1d20e421_34)</u> | <u>[10](#i56f59d311cc04f92b4daad2a1d20e421_34)</u> |
| <u>[Annual Results by Business Segment and All Other](#i56f59d311cc04f92b4daad2a1d20e421_37)</u> | <u>[14](#i56f59d311cc04f92b4daad2a1d20e421_37)</u> |
| Consumer Banking |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Total Segment Results](#i56f59d311cc04f92b4daad2a1d20e421_40)</u> | <u>[15](#i56f59d311cc04f92b4daad2a1d20e421_40)</u> |
| Global Wealth & Investment Management |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Total Segment Results](#i56f59d311cc04f92b4daad2a1d20e421_52)</u> | <u>[16](#i56f59d311cc04f92b4daad2a1d20e421_52)</u> |
| Global Banking |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Total Segment Results](#i56f59d311cc04f92b4daad2a1d20e421_58)</u> | <u>[17](#i56f59d311cc04f92b4daad2a1d20e421_58)</u> |
| Global Markets |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Total Segment Results](#i56f59d311cc04f92b4daad2a1d20e421_64)</u> | <u>[18](#i56f59d311cc04f92b4daad2a1d20e421_64)</u> |
| All Other |  |
| &nbsp;&nbsp;&nbsp;&nbsp;<u>[Total Results](#i56f59d311cc04f92b4daad2a1d20e421_70)</u> | <u>[19](#i56f59d311cc04f92b4daad2a1d20e421_70)</u> |
| <u>[Exhibit A: Non-GAAP Reconciliations](#i56f59d311cc04f92b4daad2a1d20e421_97)</u> | <u>[20](#i56f59d311cc04f92b4daad2a1d20e421_97)</u> |
| **<u>Description of Accounting Changes</u>** |  |
| Bank of America Corporation (the "Corporation") has elected to change its accounting methods related to its tax-related affordable housing, eligible wind renewable energy and solar renewable energy equity investments. <br>The primary impact of the accounting changes described below is a reclassification between income statement line items. The Corporation determined that the new accounting methods are preferable as they better align the financial statement presentation with the economic impact of these equity investments.<br>For its affordable housing and eligible wind renewable energy equity investments, the Corporation is changing its accounting from the equity method of accounting to the proportional amortization method (PAM). Under PAM, the cost of the equity investments is amortized in proportion to the related income tax benefits and classified in income tax expense, whereas previously the cost of the equity investments was determined using the equity method of accounting and classified in noninterest income – other income. <br>For its solar renewable energy equity investments, the Corporation is changing its accounting for the investment tax credits (ITCs) where the ITCs and applicable equity investment expense are recognized over the productive life of the underlying facilities, whereas previously the ITCs and applicable expense were recognized when the facilities were placed in service. As part of this accounting change, the Corporation is also electing to report the ITCs in noninterest income – other income against the related equity investment expense.<br>Financial information for the prior quarters of 2025 and 2024, as well as the full years 2024 and 2023, has been updated and presented herein to reflect the changes in accounting methods. | Bank of America Corporation (the "Corporation") has elected to change its accounting methods related to its tax-related affordable housing, eligible wind renewable energy and solar renewable energy equity investments. <br>The primary impact of the accounting changes described below is a reclassification between income statement line items. The Corporation determined that the new accounting methods are preferable as they better align the financial statement presentation with the economic impact of these equity investments.<br>For its affordable housing and eligible wind renewable energy equity investments, the Corporation is changing its accounting from the equity method of accounting to the proportional amortization method (PAM). Under PAM, the cost of the equity investments is amortized in proportion to the related income tax benefits and classified in income tax expense, whereas previously the cost of the equity investments was determined using the equity method of accounting and classified in noninterest income – other income. <br>For its solar renewable energy equity investments, the Corporation is changing its accounting for the investment tax credits (ITCs) where the ITCs and applicable equity investment expense are recognized over the productive life of the underlying facilities, whereas previously the ITCs and applicable expense were recognized when the facilities were placed in service. As part of this accounting change, the Corporation is also electing to report the ITCs in noninterest income – other income against the related equity investment expense.<br>Financial information for the prior quarters of 2025 and 2024, as well as the full years 2024 and 2023, has been updated and presented herein to reflect the changes in accounting methods. |
| **<u>Key Performance Indicators</u>** | **<u>Key Performance Indicators</u>** |
| The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. Key performance indicators are presented in Consolidated Financial Highlights on page 2. | The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. Key performance indicators are presented in Consolidated Financial Highlights on page 2. |
| **<u>Business Segment Operations</u>** | **<u>Business Segment Operations</u>** |
| The Corporation reports the results of operations of its four business segments and *All Other* on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 10 - 14 are reported on an FTE basis. | The Corporation reports the results of operations of its four business segments and *All Other* on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 10 - 14 are reported on an FTE basis. |

---

------

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** | **Consolidated Financial Highlights** |
| (In millions, except per share information) |  |  |  |  |  |  |  |  |  |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter<br> 2024 | First<br> Quarter<br> 2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter<br> 2024 | First<br> Quarter<br> 2024 |
| **Income statement** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $56060 | $56931 | $15233 | $14670 | $14443 | $14359 | $13967 | $13702 | $14032 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest income | 49796 | 45838 | 13807 | 12773 | 13804 | 12116 | 12246 | 12603 | 12831 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 105856 | 102769 | 29040 | 27443 | 28247 | 26475 | 26213 | 26305 | 26863 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 5821 | 4394 | 1295 | 1592 | 1480 | 1452 | 1542 | 1508 | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest expense | 66812 | 65845 | 17337 | 17183 | 17770 | 16787 | 16479 | 16309 | 17237 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 33223 | 32530 | 10408 | 8668 | 8997 | 8236 | 8192 | 8488 | 8307 |
| &nbsp;&nbsp;&nbsp;Pretax, pre-provision income <sup>(1)</sup> | 39044 | 36924 | 11703 | 10260 | 10477 | 9688 | 9734 | 9996 | 9626 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense | 6250 | 6225 | 2076 | 1498 | 1637 | 1430 | 1481 | 1685 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income | 26973 | 26305 | 8332 | 7170 | 7360 | 6806 | 6711 | 6803 | 6653 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock dividends | 1629 | 1649 | 429 | 291 | 406 | 266 | 516 | 315 | 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net income applicable to common shareholders | 25344 | 24656 | 7903 | 6879 | 6954 | 6540 | 6195 | 6488 | 6121 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings per common share | 3.19 | 3.05 | 1.04 | 0.90 | 0.89 | 0.83 | 0.78 | 0.82 | 0.76 |
| &nbsp;&nbsp;&nbsp;&nbsp;Average diluted common shares issued and<br> outstanding | 7935.8 | 8080.5 | 7627.1 | 7651.6 | 7770.8 | 7843.7 | 7902.1 | 7960.9 | 8031.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends paid per common share | $1.00 | $0.92 | $0.28 | $0.26 | $0.26 | $0.26 | $0.26 | $0.24 | $0.24 |
| **Performance ratios** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average assets | 0.82% | 0.83% | 0.96% | 0.84% | 0.89% | 0.82% | 0.81% | 0.84% | 0.82% |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average common shareholders' equity | 9.53 | 9.73 | 11.40 | 10.12 | 10.37 | 9.64 | 9.22 | 9.89 | 9.37 |
| &nbsp;&nbsp;&nbsp;&nbsp;Return on average shareholders' equity | 9.22 | 9.33 | 11.01 | 9.74 | 10.15 | 9.23 | 9.10 | 9.37 | 9.19 |
| &nbsp;&nbsp;&nbsp;Return on average tangible common shareholders' <br>&nbsp;&nbsp;&nbsp;&nbsp;equity <sup>(2)</sup> | 12.94 | 13.45 | 15.29 | 13.61 | 13.97 | 13.02 | 12.49 | 13.47 | 12.79 |
| &nbsp;&nbsp;&nbsp;Return on average tangible shareholders' equity <sup>(2)</sup> | 12.13 | 12.43 | 14.35 | 12.77 | 13.32 | 12.12 | 11.96 | 12.34 | 12.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio | 63.12 | 64.07 | 59.70 | 62.61 | 62.91 | 63.41 | 62.86 | 62.00 | 64.17 |
| **At period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Book value per share of common stock | $35.58 | $33.16 | $37.72 | $36.92 | $36.17 | $35.58 | $35.14 | $34.19 | $33.52 |
| &nbsp;&nbsp;&nbsp;Tangible book value per share of common stock <sup>(2)</sup> | 26.37 | 24.28 | 28.16 | 27.49 | 26.90 | 26.37 | 26.03 | 25.17 | 24.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market capitalization | 334497 | 265840 | 378125 | 351904 | 315482 | 334497 | 305090 | 309202 | 298312 |
| &nbsp;&nbsp;&nbsp;&nbsp;Number of financial centers - U.S. | 3700 | 3845 | 3649 | 3664 | 3681 | 3700 | 3741 | 3786 | 3804 |
| &nbsp;&nbsp;&nbsp;&nbsp;Number of branded ATMs - U.S. | 14893 | 15168 | 14920 | 14904 | 14866 | 14893 | 14900 | 14972 | 15028 |
| &nbsp;&nbsp;&nbsp;&nbsp;Headcount | 213193 | 212985 | 213384 | 213388 | 212732 | 213193 | 213491 | 212318 | 212335 |

---

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure because it enables an assessment of the Corporation's ability to generate earnings to cover credit losses through a credit cycle. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 20.)

<sup>(2)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 20.)

 

 2

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** | **Consolidated Statement of Income** |
| (In millions, except per share information) | (In millions, except per share information) |  |  |  |  |  |  |  |  |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter<br> 2024 | First<br> Quarter<br> 2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter<br> 2024 | First<br> Quarter<br> 2024 |
| **Net interest income** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest income | $146607 | $130262 | $35366 | $34873 | $34066 | $35977 | $37491 | $36854 | $36285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense | 90547 | 73331 | 20133 | 20203 | 19623 | 21618 | 23524 | 23152 | 22253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net interest income | 56060 | 56931 | 15233 | 14670 | 14443 | 14359 | 13967 | 13702 | 14032 |
| **Noninterest income** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions | 36291 | 32009 | 10337 | 9469 | 9415 | 9543 | 9119 | 8969 | 8660 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 12967 | 12732 | 3203 | 3153 | 3584 | 2503 | 3278 | 3298 | 3888 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 538 | 1097 | 267 | 151 | 805 | 70 | (151) | 336 | 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 49796 | 45838 | 13807 | 12773 | 13804 | 12116 | 12246 | 12603 | 12831 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total revenue, net of interest<br> expense** | 105856 | 102769 | 29040 | 27443 | 28247 | 26475 | 26213 | 26305 | 26863 |
| **Provision for credit losses** | 5821 | 4394 | 1295 | 1592 | 1480 | 1452 | 1542 | 1508 | 1319 |
| **Noninterest expense** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Compensation and benefits | 40182 | 38330 | 10523 | 10332 | 10889 | 10245 | 9916 | 9826 | 10195 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 7289 | 7164 | 1872 | 1836 | 1856 | 1824 | 1836 | 1818 | 1811 |
| &nbsp;&nbsp;&nbsp;&nbsp;Information processing and<br> communications | 7231 | 6707 | 1827 | 1819 | 1894 | 1884 | 1784 | 1763 | 1800 |
| &nbsp;&nbsp;&nbsp;&nbsp;Product delivery and transaction<br> related | 3494 | 3608 | 1025 | 974 | 914 | 903 | 849 | 891 | 851 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional fees | 2669 | 2159 | 606 | 640 | 652 | 744 | 723 | 654 | 548 |
| &nbsp;&nbsp;&nbsp;&nbsp;Marketing | 1956 | 1927 | 572 | 563 | 506 | 510 | 504 | 487 | 455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other general operating | 3991 | 5950 | 912 | 1019 | 1059 | 677 | 867 | 870 | 1577 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest expense | 66812 | 65845 | 17337 | 17183 | 17770 | 16787 | 16479 | 16309 | 17237 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Income before income taxes** | 33223 | 32530 | 10408 | 8668 | 8997 | 8236 | 8192 | 8488 | 8307 |
| **Income tax expense** | 6250 | 6225 | 2076 | 1498 | 1637 | 1430 | 1481 | 1685 | 1654 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $26973 | $26305 | $8332 | $7170 | $7360 | $6806 | $6711 | $6803 | $6653 |
| **Preferred stock dividends** | 1629 | 1649 | 429 | 291 | 406 | 266 | 516 | 315 | 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income applicable to<br> common shareholders** | $25344 | $24656 | $7903 | $6879 | $6954 | $6540 | $6195 | $6488 | $6121 |
| **Per common share information** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Earnings | $3.23 | $3.07 | $1.06 | $0.91 | $0.91 | $0.85 | $0.79 | $0.82 | $0.77 |
| &nbsp;&nbsp;&nbsp;&nbsp;Diluted earnings | 3.19 | 3.05 | 1.04 | 0.90 | 0.89 | 0.83 | 0.78 | 0.82 | 0.76 |
| **Average common shares issued and<br> outstanding** | 7855.5 | 8028.6 | 7466.0 | 7581.2 | 7677.9 | 7738.4 | 7818.0 | 7897.9 | 7968.2 |
| **Average diluted common shares<br> issued and outstanding** | 7935.8 | 8080.5 | 7627.1 | 7651.6 | 7770.8 | 7843.7 | 7902.1 | 7960.9 | 8031.4 |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** | **Consolidated Statement of Comprehensive Income** |
| (Dollars in millions) |  |  |  |  |  |  |  |  |  |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
| **Net income** | $26973 | $26305 | $8332 | $7170 | $7360 | $6806 | $6711 | $6803 | $6653 |
| **Other comprehensive income (loss),<br> net-of-tax:** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in debt securities | 158 | 573 | 438 | (315) | 366 | (286) | 417 | (305) | 332 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in debit valuation<br> adjustments | (127) | (686) | (305) | (153) | 297 | 8 |  | 53 | (188) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in derivatives | 2428 | 3919 | 636 | 1196 | 1313 | (672) | 2830 | 686 | (416) |
| &nbsp;&nbsp;&nbsp;&nbsp;Employee benefit plan adjustments | 131 | (439) | (16) | 26 | 27 | 56 | 27 | 25 | 23 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net change in foreign currency<br> translation adjustments | (87) | 1 | 6 | 13 | 11 | (57) | 21 | (31) | (20) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Other comprehensive income<br> (loss)** | 2503 | 3368 | 759 | 767 | 2014 | (951) | 3295 | 428 | (269) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Comprehensive income** | $29476 | $29673 | $9091 | $7937 | $9374 | $5855 | $10006 | $7231 | $6384 |

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 3

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** | **Net Interest Income and Noninterest Income** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
| **Net interest income** |  |  |  |  |  |  |  |  |  |
| Interest income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans and leases | $61993 | $57124 | $16191 | $15651 | $15223 | $15690 | $15725 | $15338 | $15240 |
| &nbsp;&nbsp;&nbsp;&nbsp;Debt securities | 26007 | 20226 | 6958 | 6913 | 6767 | 6712 | 6833 | 6325 | 6137 |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal funds sold and securities borrowed or purchased<br> under agreements to resell | 19911 | 18679 | 3802 | 4094 | 3774 | 4381 | 5196 | 5159 | 5175 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trading account assets | 10376 | 8773 | 3195 | 3057 | 3008 | 2679 | 2726 | 2516 | 2455 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other interest income | 28320 | 25460 | 5220 | 5158 | 5294 | 6515 | 7011 | 7516 | 7278 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest income | 146607 | 130262 | 35366 | 34873 | 34066 | 35977 | 37491 | 36854 | 36285 |
| Interest expense |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 38442 | 26163 | 8932 | 8681 | 8632 | 9524 | 10125 | 9655 | 9138 |
| &nbsp;&nbsp;&nbsp;&nbsp;Short-term borrowings | 34538 | 30553 | 7172 | 7435 | 6963 | 7993 | 8940 | 9070 | 8535 |
| &nbsp;&nbsp;&nbsp;&nbsp;Trading account liabilities | 2191 | 2043 | 672 | 676 | 707 | 567 | 538 | 540 | 546 |
| &nbsp;&nbsp;&nbsp;&nbsp;Long-term debt | 15376 | 14572 | 3357 | 3411 | 3321 | 3534 | 3921 | 3887 | 4034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest expense | 90547 | 73331 | 20133 | 20203 | 19623 | 21618 | 23524 | 23152 | 22253 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Net interest income** | $56060 | $56931 | $15233 | $14670 | $14443 | $14359 | $13967 | $13702 | $14032 |
| **Noninterest income** |  |  |  |  |  |  |  |  |  |
| Fees and commissions |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Card income |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Interchange fees <sup>(1)</sup> | $4013 | $3983 | $990 | $1036 | $916 | $1029 | $1030 | $1023 | $931 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Other card income | 2271 | 2071 | 639 | 610 | 602 | 593 | 588 | 558 | 532 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total card income | 6284 | 6054 | 1629 | 1646 | 1518 | 1622 | 1618 | 1581 | 1463 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Deposit-related fees | 4708 | 4382 | 1267 | 1265 | 1228 | 1216 | 1198 | 1172 | 1122 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Lending-related fees | 1347 | 1302 | 365 | 350 | 333 | 338 | 354 | 335 | 320 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total service charges | 6055 | 5684 | 1632 | 1615 | 1561 | 1554 | 1552 | 1507 | 1442 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Asset management fees | 13875 | 12002 | 3972 | 3698 | 3738 | 3702 | 3533 | 3370 | 3270 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Brokerage fees | 3891 | 3561 | 1091 | 1082 | 1075 | 1011 | 1013 | 950 | 917 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment and brokerage services | 17766 | 15563 | 5063 | 4780 | 4813 | 4713 | 4546 | 4320 | 4187 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Underwriting income | 3275 | 2235 | 992 | 806 | 770 | 763 | 742 | 869 | 901 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Syndication fees | 1221 | 898 | 438 | 289 | 369 | 335 | 274 | 318 | 294 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial advisory services | 1690 | 1575 | 583 | 333 | 384 | 556 | 387 | 374 | 373 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total investment banking fees | 6186 | 4708 | 2013 | 1428 | 1523 | 1654 | 1403 | 1561 | 1568 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 36291 | 32009 | 10337 | 9469 | 9415 | 9543 | 9119 | 8969 | 8660 |
| Market making and similar activities | 12967 | 12732 | 3203 | 3153 | 3584 | 2503 | 3278 | 3298 | 3888 |
| Other income (loss) | 538 | 1097 | 267 | 151 | 805 | 70 | (151) | 336 | 283 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total noninterest income** | $49796 | $45838 | $13807 | $12773 | $13804 | $12116 | $12246 | $12603 | $12831 |

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<sup>(1)</sup> Gross interchange fees and merchant income were $13.6 billion and $13.3 billion and are presented net of $9.5 billion and $9.3 billion of expenses for rewards and partner payments as well as certain other card costs for the years ended December 31, 2024 and 2023. Gross interchange fees and merchant income were $3.4 billion, $3.5 billion, $3.3 billion, $3.5 billion, $3.4 billion, $3.5 billion and $3.2 billion and are presented net of $2.5 billion, $2.4 billion, $2.4 billion, $2.4 billion $2.4 billion, $2.4 billion and $2.3 billion of expenses for rewards and partner payments as well as certain other card costs for the third, second and first quarters of 2025 and the fourth, third, second and first quarters of 2024, respectively.

&nbsp;&nbsp;&nbsp;&nbsp;

 4

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| | | | |
|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Consolidated Balance Sheet** | **Consolidated Balance Sheet** | **Consolidated Balance Sheet** | **Consolidated Balance Sheet** |
| (Dollars in millions) |  |  |  |
|  | September 30<br>2025 | December 31<br> 2024 | December 31<br> 2023 |
| **Assets** |  |  |  |
| Cash and due from banks | $25352 | $26003 | $27892 |
| Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | 221155 | 264111 | 305181 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cash and cash equivalents | 246507 | 290114 | 333073 |
| Time deposits placed and other short-term investments | 8212 | 6372 | 8346 |
| Federal funds sold and securities borrowed or purchased under agreements to resell | 325800 | 274709 | 280624 |
| Trading account assets | 335566 | 314460 | 277354 |
| Derivative assets | 42115 | 40948 | 39323 |
| Debt securities: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Carried at fair value | 404636 | 358607 | 276852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Held-to-maturity, at cost | 531414 | 558677 | 594555 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total debt securities | 936050 | 917284 | 871407 |
| Loans and leases | 1165900 | 1095835 | 1053732 |
| Allowance for loan and lease losses | (13252) | (13240) | (13342) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases, net of allowance | 1152648 | 1082595 | 1040390 |
| Premises and equipment, net | 12348 | 12168 | 11855 |
| Goodwill | 69021 | 69021 | 69021 |
| Loans held-for-sale | 6831 | 9545 | 6002 |
| Customer and other receivables | 99863 | 82247 | 81881 |
| Other assets | 168188 | 161836 | 161239 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $3403149 | $3261299 | $3180515 |
| **Liabilities** |  |  |  |
| Deposits in U.S. offices: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | $510208 | $507561 | $530619 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 1354445 | 1329014 | 1273904 |
| Deposits in non-U.S. offices: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing | 14690 | 16297 | 16427 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest-bearing | 122865 | 112595 | 102877 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 2002208 | 1965467 | 1923827 |
| Federal funds purchased and securities loaned or sold under agreements to repurchase | 342588 | 331758 | 283887 |
| Trading account liabilities | 117322 | 92543 | 95530 |
| Derivative liabilities | 40157 | 39353 | 43432 |
| Short-term borrowings | 54200 | 43391 | 32098 |
| Accrued expenses and other liabilities | 232753 | 211545 | 209328 |
| Long-term debt | 311484 | 283279 | 302204 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities** | 3100712 | 2967336 | 2890306 |
| **Shareholders' equity** |  |  |  |
| Preferred stock, $0.01 par value; authorized –100,000,000 shares; issued and outstanding – 3,991,164, 3,877,917 and 4,088,099 shares | 25992 | 23159 | 28397 |
| Common stock and additional paid-in capital, $0.01 par value; authorized –12,800,000,000 shares; issued and outstanding – 7,329,421,929**,** 7,610,862,311 and 7,895,457,665 shares | 31764 | 45336 | 56365 |
| Retained earnings | 256426 | 240753 | 223235 |
| Accumulated other comprehensive income (loss) | (11745) | (15285) | (17788) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total shareholders' equity** | 302437 | 293963 | 290209 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $3403149 | $3261299 | $3180515 |
| **Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)** | **Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)** | **Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)** | **Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)** |
| Trading account assets | $6063 | $5575 | $6054 |
| Loans and leases | 18007 | 19144 | 18276 |
| Allowance for loan and lease losses | (889) | (919) | (826) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loans and leases, net of allowance | 17118 | 18225 | 17450 |
| All other assets | 614 | 319 | 269 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets of consolidated variable interest entities** | $23795 | $24119 | $23773 |
| **Liabilities of consolidated variable interest entities included in total liabilities above** | **Liabilities of consolidated variable interest entities included in total liabilities above** | **Liabilities of consolidated variable interest entities included in total liabilities above** | **Liabilities of consolidated variable interest entities included in total liabilities above** |
| Short-term borrowings | $4980 | $3329 | $2957 |
| Long-term debt | 8420 | 8457 | 8456 |
| All other liabilities | 22 | 21 | 19 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities of consolidated variable interest entities** | $13422 | $11807 | $11432 |

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 5

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Third Quarter 2025 | Third Quarter 2025 | Third Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 | First Quarter 2025 | First Quarter 2025 | First Quarter 2025 |
|  | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate |
| **Earning assets** |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits with the Federal Reserve,<br> non-U.S. central banks and other banks | $264233 | $2698 | 4.05% | $274839 | $2843 | 4.15% | $272012 | $2810 | 4.19% |
| Time deposits placed and other short-term<br>&nbsp;&nbsp;&nbsp;&nbsp;investments | 9716 | 88 | 3.59 | 10405 | 89 | 3.43 | 9202 | 92 | 4.04 |
| Federal funds sold and securities borrowed or<br> purchased under agreements to resell | 316603 | 3802 | 4.76 | 353331 | 4094 | 4.65 | 322012 | 3774 | 4.75 |
| Trading account assets | 239048 | 3222 | 5.35 | 234282 | 3081 | 5.27 | 231437 | 3034 | 5.31 |
| Debt securities | 932588 | 6975 | 2.97 | 933065 | 6932 | 2.96 | 923747 | 6786 | 2.95 |
| Loans and leases <sup>(2)</sup> |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 235301 | 2070 | 3.52 | 235130 | 2031 | 3.46 | 228638 | 1916 | 3.36 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 26413 | 390 | 5.86 | 26190 | 379 | 5.80 | 25849 | 366 | 5.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 100966 | 2932 | 11.52 | 100013 | 2846 | 11.41 | 100173 | 2838 | 11.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Direct/Indirect and other consumer | 110127 | 1525 | 5.49 | 108955 | 1484 | 5.47 | 106847 | 1432 | 5.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 472807 | 6917 | 5.82 | 470288 | 6740 | 5.74 | 461507 | 6552 | 5.74 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. commercial | 443274 | 5953 | 5.33 | 427194 | 5709 | 5.36 | 411783 | 5427 | 5.34 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-U.S. commercial | 154458 | 2121 | 5.45 | 149044 | 2016 | 5.42 | 138853 | 2058 | 6.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 66494 | 1044 | 6.23 | 65847 | 1023 | 6.23 | 65751 | 1020 | 6.29 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial lease financing | 16002 | 216 | 5.37 | 16080 | 214 | 5.33 | 15844 | 215 | 5.46 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 680228 | 9334 | 5.45 | 658165 | 8962 | 5.46 | 632231 | 8720 | 5.59 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 1153035 | 16251 | 5.60 | 1128453 | 15702 | 5.58 | 1093738 | 15272 | 5.65 |
| Other earning assets | 124965 | 2484 | 7.89 | 115831 | 2277 | 7.89 | 114695 | 2443 | 8.63 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total earning assets** | 3040188 | 35520 | 4.64 | 3050206 | 35018 | 4.60 | 2966843 | 34211 | 4.67 |
| Cash and due from banks | 24963 |  |  | 24781 |  |  | 23700 |  |  |
| Other assets, less allowance for loan and lease losses | 368296 |  |  | 355293 |  |  | 358468 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $3433447 |  |  | $3430280 |  |  | $3349011 |  |  |
| **Interest-bearing liabilities** |  |  |  |  |  |  |  |  |  |
| U.S. interest-bearing deposits |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand and money market deposits <sup>(3)</sup> | $1095931 | $6063 | 2.19% | $1078771 | $5739 | 2.13% | $1068521 | $5526 | 2.10% |
| &nbsp;&nbsp;&nbsp;Time and savings deposits <sup>(3)</sup> | 257475 | 1941 | 2.99 | 259261 | 1998 | 3.09 | 262711 | 2119 | 3.27 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. interest-bearing deposits | 1353406 | 8004 | 2.35 | 1338032 | 7737 | 2.32 | 1331232 | 7645 | 2.33 |
| Non-U.S. interest-bearing deposits | 125309 | 928 | 2.94 | 121921 | 944 | 3.11 | 116733 | 987 | 3.42 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 1478715 | 8932 | 2.40 | 1459953 | 8681 | 2.38 | 1447965 | 8632 | 2.42 |
| Federal funds purchased and securities loaned or sold<br> under agreements to repurchase | 392431 | 4800 | 4.85 | 414655 | 4946 | 4.78 | 385091 | 4629 | 4.87 |
| Short-term borrowings and other interest-bearing<br>&nbsp;&nbsp;&nbsp;&nbsp;liabilities | 178368 | 2372 | 5.28 | 183008 | 2489 | 5.45 | 160226 | 2334 | 5.91 |
| Trading account liabilities | 52452 | 672 | 5.08 | 53805 | 676 | 5.04 | 53678 | 707 | 5.34 |
| Long-term debt | 247425 | 3357 | 5.40 | 249104 | 3411 | 5.49 | 241036 | 3321 | 5.56 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 2349391 | 20133 | 3.40 | 2360525 | 20203 | 3.43 | 2287996 | 19623 | 3.47 |
| Noninterest-bearing sources |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 512719 |  |  | 513808 |  |  | 510367 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities <sup>(4)</sup> | 270956 |  |  | 260618 |  |  | 256461 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 300381 |  |  | 295329 |  |  | 294187 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $3433447 |  |  | $3430280 |  |  | $3349011 |  |  |
| Net interest spread |  |  | 1.24% |  |  | 1.17% |  |  | 1.20% |
| Impact of noninterest-bearing sources |  |  | 0.77 |  |  | 0.77 |  |  | 0.79 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income/yield on earning assets** <sup>(5)</sup> |  | $15387 | 2.01% |  | $14815 | 1.94% |  | $14588 | 1.99% |

---

<sup>(1)</sup> Includes the impact of interest rate risk management contracts.

<sup>(2)</sup> Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

<sup>(3)</sup> Certain prior-period time and savings deposits have been reclassified to demand and money market deposits consistent with the presentation in the third quarter of 2025.

<sup>(4)</sup> Includes $66.2 billion, $58.8 billion and $53.7 billion of structured notes and liabilities for the third, second and first quarters of 2025, respectively.

<sup>(5)</sup> Net interest income includes FTE adjustments of $154 million, $145 million and $145 million for the third, second and first quarters of 2025, respectively.

 6

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Fourth Quarter 2024 | Fourth Quarter 2024 | Fourth Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 |
|  | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate |
| **Earning assets** |  |  |  |  |  |  |  |  |  |
| Interest-bearing deposits with the Federal Reserve,<br> non-U.S. central banks and other banks | $319203 | $3648 | 4.55% | $320781 | $4129 | 5.12% | $345423 | $4498 | 5.24% |
| Time deposits placed and other short-term<br>&nbsp;&nbsp;&nbsp;&nbsp;investments | 9824 | 112 | 4.54 | 10031 | 108 | 4.29 | 10845 | 123 | 4.55 |
| Federal funds sold and securities borrowed or<br> purchased under agreements to resell | 296204 | 4381 | 5.88 | 323119 | 5196 | 6.40 | 318380 | 5159 | 6.52 |
| Trading account assets | 210380 | 2703 | 5.11 | 214980 | 2749 | 5.09 | 202295 | 2542 | 5.05 |
| Debt securities | 895903 | 6734 | 2.99 | 883562 | 6859 | 3.08 | 852427 | 6352 | 2.98 |
| Loans and leases <sup>(2)</sup> |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 227990 | 1892 | 3.32 | 227800 | 1872 | 3.29 | 227567 | 1824 | 3.21 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 25767 | 394 | 6.09 | 25664 | 418 | 6.48 | 25529 | 405 | 6.38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 100938 | 2903 | 11.44 | 99908 | 2924 | 11.64 | 98983 | 2825 | 11.48 |
| &nbsp;&nbsp;&nbsp;&nbsp;Direct/Indirect and other consumer | 106379 | 1490 | 5.57 | 104732 | 1512 | 5.74 | 103689 | 1428 | 5.54 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 461074 | 6679 | 5.77 | 458104 | 6726 | 5.85 | 455768 | 6482 | 5.71 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. commercial | 404606 | 5541 | 5.45 | 391728 | 5358 | 5.44 | 386232 | 5267 | 5.49 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-U.S. commercial | 132833 | 2187 | 6.55 | 125377 | 2222 | 7.05 | 123094 | 2170 | 7.09 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 67064 | 1129 | 6.69 | 69404 | 1275 | 7.31 | 71345 | 1285 | 7.24 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial lease financing | 15432 | 209 | 5.39 | 15115 | 201 | 5.30 | 15033 | 196 | 5.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 619935 | 9066 | 5.82 | 601624 | 9056 | 5.99 | 595704 | 8918 | 6.02 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 1081009 | 15745 | 5.80 | 1059728 | 15782 | 5.93 | 1051472 | 15400 | 5.89 |
| Other earning assets | 116207 | 2808 | 9.61 | 105496 | 2815 | 10.62 | 107093 | 2940 | 11.04 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total earning assets** | 2928730 | 36131 | 4.91 | 2917697 | 37638 | 5.14 | 2887935 | 37014 | 5.15 |
| Cash and due from banks | 24354 |  |  | 23435 |  |  | 24208 |  |  |
| Other assets, less allowance for loan and lease losses | 362494 |  |  | 352768 |  |  | 360813 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $3315578 |  |  | $3293900 |  |  | $3272956 |  |  |
| **Interest-bearing liabilities** |  |  |  |  |  |  |  |  |  |
| U.S. interest-bearing deposits |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand and money market deposits <sup>(3)</sup> | $1069361 | $6153 | 2.29% | $1043182 | $6603 | 2.52% | $1036834 | $6300 | 2.44% |
| &nbsp;&nbsp;&nbsp;Time and savings deposits <sup>(3)</sup> | 260825 | 2266 | 3.46 | 259999 | 2367 | 3.62 | 252964 | 2265 | 3.60 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. interest-bearing deposits | 1330186 | 8419 | 2.52 | 1303181 | 8970 | 2.74 | 1289798 | 8565 | 2.67 |
| Non-U.S. interest-bearing deposits | 115503 | 1105 | 3.81 | 110527 | 1155 | 4.16 | 106496 | 1090 | 4.12 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 1445689 | 9524 | 2.62 | 1413708 | 10125 | 2.85 | 1396294 | 9655 | 2.78 |
| Federal funds purchased and securities loaned or sold<br> under agreements to repurchase | 363419 | 5387 | 5.90 | 383334 | 6193 | 6.43 | 371372 | 6171 | 6.68 |
| Short-term borrowings and other interest-bearing<br>&nbsp;&nbsp;&nbsp;&nbsp;liabilities | 155956 | 2606 | 6.65 | 147579 | 2747 | 7.41 | 152742 | 2899 | 7.64 |
| Trading account liabilities | 50873 | 567 | 4.44 | 52973 | 538 | 4.04 | 53895 | 540 | 4.03 |
| Long-term debt | 238988 | 3534 | 5.90 | 247338 | 3921 | 6.32 | 243689 | 3887 | 6.40 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 2254925 | 21618 | 3.82 | 2244932 | 23524 | 4.17 | 2217992 | 23152 | 4.20 |
| Noninterest-bearing sources |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 512261 |  |  | 507040 |  |  | 513631 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities <sup>(4)</sup> | 254994 |  |  | 248497 |  |  | 249390 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 293398 |  |  | 293431 |  |  | 291943 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $3315578 |  |  | $3293900 |  |  | $3272956 |  |  |
| Net interest spread |  |  | 1.09% |  |  | 0.97% |  |  | 0.95% |
| Impact of noninterest-bearing sources |  |  | 0.88 |  |  | 0.95 |  |  | 0.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income/yield on earning assets** <sup>(5)</sup> |  | $14513 | 1.97% |  | $14114 | 1.92% |  | $13862 | 1.93% |

---

<sup>(1)</sup> Includes the impact of interest rate risk management contracts.

<sup>(2)</sup> Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

<sup>(3)</sup> Certain prior-period time and savings deposits have been reclassified to demand and money market deposits consistent with the presentation in the third quarter of 2025..

<sup>(4)</sup> Includes $53.0 billion, $49.5 billion and $46.6 billion of structured notes and liabilities for the fourth, third and second quarters of 2024, respectively.

<sup>(5)</sup> Net interest income includes FTE adjustments of $154 million, $147 million and $160 million for the fourth, third and second quarters of 2024, respectively.

 7

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| | | | |
|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** | **Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | First Quarter 2024 | First Quarter 2024 | First Quarter 2024 |
|  | Average<br>Balance | Interest<br>Income/<br>Expense <sup>(1)</sup> | Yield/<br>Rate |
| **Earning assets** |  |  |  |
| Interest-bearing deposits with the Federal Reserve,<br> non-U.S. central banks and other banks | $346463 | $4531 | 5.26% |
| Time deposits placed and other short-term<br>&nbsp;&nbsp;&nbsp;&nbsp;investments | 9728 | 116 | 4.80 |
| Federal funds sold and securities borrowed or<br> purchased under agreements to resell | 304821 | 5175 | 6.83 |
| Trading account assets | 202461 | 2482 | 4.93 |
| Debt securities | 842483 | 6162 | 2.92 |
| Loans and leases <sup>(2)</sup> |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential mortgage | 227748 | 1803 | 3.17 |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity | 25522 | 390 | 6.14 |
| &nbsp;&nbsp;&nbsp;&nbsp;Credit card | 99815 | 2786 | 11.22 |
| &nbsp;&nbsp;&nbsp;&nbsp;Direct/Indirect and other consumer | 103371 | 1399 | 5.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer | 456456 | 6378 | 5.61 |
| &nbsp;&nbsp;&nbsp;&nbsp;U.S. commercial | 379566 | 5236 | 5.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;Non-U.S. commercial | 125024 | 2170 | 6.98 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 71986 | 1311 | 7.33 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial lease financing | 14858 | 200 | 5.41 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial | 591434 | 8917 | 6.06 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 1047890 | 15295 | 5.87 |
| Other earning assets | 106737 | 2682 | 10.10 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total earning assets** | 2860583 | 36443 | 5.12 |
| Cash and due from banks | 24185 |  |  |
| Other assets, less allowance for loan and lease losses | 360479 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total assets** | $3245247 |  |  |
| **Interest-bearing liabilities** |  |  |  |
| U.S. interest-bearing deposits |  |  |  |
| &nbsp;&nbsp;&nbsp;Demand and money market deposits <sup>(3)</sup> | $1054122 | $6121 | 2.34% |
| &nbsp;&nbsp;&nbsp;Time and savings deposits <sup>(3)</sup> | 228359 | 1950 | 3.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total U.S. interest-bearing deposits | 1282481 | 8071 | 2.53 |
| Non-U.S. interest-bearing deposits | 104373 | 1067 | 4.11 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total interest-bearing deposits | 1386854 | 9138 | 2.65 |
| Federal funds purchased and securities loaned or sold<br> under agreements to repurchase | 350507 | 6026 | 6.92 |
| Short-term borrowings and other interest-bearing<br>&nbsp;&nbsp;&nbsp;&nbsp;liabilities | 141091 | 2509 | 7.15 |
| Trading account liabilities | 51757 | 546 | 4.24 |
| Long-term debt | 254782 | 4034 | 6.35 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total interest-bearing liabilities** | 2184991 | 22253 | 4.10 |
| Noninterest-bearing sources |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Noninterest-bearing deposits | 520608 |  |  |
| &nbsp;&nbsp;&nbsp;Other liabilities <sup>(4)</sup> | 248574 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | 291074 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total liabilities and shareholders' equity** | $3245247 |  |  |
| Net interest spread |  |  | 1.02% |
| Impact of noninterest-bearing sources |  |  | 0.97 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net interest income/yield on earning assets** <sup>(5)</sup> |  | $14190 | 1.99% |

---

<sup>(1)</sup> Includes the impact of interest rate risk management contracts.

<sup>(2)</sup> Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

<sup>(3)</sup> Certain prior-period time and savings deposits have been reclassified to demand and money market deposits consistent with the presentation in the third quarter of 2025..

<sup>(4)</sup> Includes $44.1 billion of structured notes and liabilities for the first quarter of 2024.

<sup>(5)</sup> Net interest income includes an FTE adjustment of $158 million for the first quarter of 2024.

 8

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** | **Supplemental Financial Data** |
| (Dollars in millions) |  |  |  |  |  |  |  |  |  |
|  | Year Ended <br> December 31 | Year Ended <br> December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| **FTE basis data** <sup>(1)</sup> |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest income | $56679 | $57498 | $15387 | $14815 | $14588 | $14513 | $14114 | $13862 | $14190 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 106475 | 103336 | 29194 | 27588 | 28392 | 26629 | 26360 | 26465 | 27021 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net interest yield | 1.95% | 2.08% | 2.01% | 1.94% | 1.99% | 1.97% | 1.92% | 1.93% | 1.99% |
| &nbsp;&nbsp;&nbsp;&nbsp;Efficiency ratio | 62.75 | 63.72 | 59.39 | 62.28 | 62.59 | 63.04 | 62.51 | 61.62 | 63.79 |

---

<sup>(1)</sup> FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. Net interest income includes FTE adjustments of $619 million and $567 million for the years ended December 31, 2024 and 2023, $154 million, $145 million and $145 million for the third, second and first quarters of 2025, and $154 million, $147 million, $160 million and $158 million for the fourth, third, second and first quarters of 2024, respectively.

 9

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** | **Quarterly Results by Business Segment and All Other** |
| (Dollars in millions) |  |  |  |  |  |  |
|  | Third Quarter 2025 | Third Quarter 2025 | Third Quarter 2025 | Third Quarter 2025 | Third Quarter 2025 | Third Quarter 2025 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $15387 | $8988 | $1800 | $3141 | $1484 | $(26) |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1629 | 1403 | 6 | 204 | 17 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1632 | 645 | 30 | 863 | 93 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 5063 | 94 | 4334 | 24 | 614 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 2013 |  | 65 | 1155 | 834 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 10337 | 2142 | 4435 | 2246 | 1558 | (44) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3203 | 5 | 31 | 73 | 3141 | (47) |
| &nbsp;&nbsp;&nbsp;Other income (loss)  | 267 | 31 | 46 | 729 | 42 | (581) |
| Total noninterest income (loss) | 13807 | 2178 | 4512 | 3048 | 4741 | (672) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 29194 | 11166 | 6312 | 6189 | 6225 | (698) |
| Provision for credit losses | 1295 | 1009 | 4 | 269 | 9 | 4 |
| Noninterest expense | 17337 | 5575 | 4622 | 3044 | 3895 | 201 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 10562 | 4582 | 1686 | 2876 | 2321 | (903) |
| Income tax expense (benefit) | 2230 | 1145 | 421 | 791 | 673 | (800) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $8332 | $3437 | $1265 | $2085 | $1648 | $(103) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1153035 | $320297 | $245523 | $388482 | $190994 | $7739 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3433447 | 1029529 | 320484 | 730206 | 1024300 | 328928 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1991434 | 947414 | 276534 | 631560 | 37588 | 98338 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1165900 | $321905 | $252986 | $386828 | $196759 | $7422 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3403149 | 1032826 | 325605 | 737640 | 997908 | 309170 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 2002208 | 949100 | 278931 | 640801 | 36883 | 96493 |
|  | Second Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 | Second Quarter 2025 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $14815 | $8726 | $1762 | $3081 | $1267 | $(21) |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1646 | 1415 | 10 | 207 | 19 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1615 | 627 | 28 | 864 | 94 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4780 | 85 | 4033 | 23 | 642 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1428 |  | 65 | 767 | 666 | (70) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 9469 | 2127 | 4136 | 1861 | 1421 | (76) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3153 | 6 | 28 | 68 | 3300 | (249) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 151 | (46) | 11 | 679 | (6) | (487) |
| Total noninterest income (loss) | 12773 | 2087 | 4175 | 2608 | 4715 | (812) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 27588 | 10813 | 5937 | 5689 | 5982 | (833) |
| Provision for credit losses | 1592 | 1282 | 20 | 277 | 22 | (9) |
| Noninterest expense | 17183 | 5567 | 4593 | 3070 | 3806 | 147 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 8813 | 3964 | 1324 | 2342 | 2154 | (971) |
| Income tax expense (benefit) | 1643 | 991 | 331 | 644 | 625 | (948) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $7170 | $2973 | $993 | $1698 | $1529 | $(23) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1128453 | $319142 | $237377 | $387864 | $176368 | $7702 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3430280 | 1033776 | 320224 | 703326 | 1022955 | 349999 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1973761 | 951986 | 276825 | 603410 | 38040 | 103500 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1147056 | $320908 | $241142 | $390691 | $187357 | $6958 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3440798 | 1037407 | 320820 | 739214 | 1017594 | 325763 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 2011613 | 954373 | 275778 | 643529 | 38232 | 99701 |

---

<sup>(1)</sup> Total assets include asset allocations to match liabilities (i.e., deposits).

 10

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** |
| (Dollars in millions) |  |  |  |  |  |  |
|  | First Quarter 2025 | First Quarter 2025 | First Quarter 2025 | First Quarter 2025 | First Quarter 2025 | First Quarter 2025 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $14588 | $8505 | $1765 | $3151 | $1189 | $(22) |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1518 | 1297 | 10 | 202 | 14 | (5) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1561 | 618 | 27 | 826 | 89 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4813 | 83 | 4089 | 18 | 627 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1523 |  | 69 | 847 | 681 | (74) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 9415 | 1998 | 4195 | 1893 | 1411 | (82) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3584 | 8 | 34 | 66 | 3622 | (146) |
| &nbsp;&nbsp;&nbsp;Other income (loss)  | 805 | (18) | 22 | 882 | 363 | (444) |
| Total noninterest income (loss) | 13804 | 1988 | 4251 | 2841 | 5396 | (672) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 28392 | 10493 | 6016 | 5992 | 6585 | (694) |
| Provision for credit losses | 1480 | 1292 | 14 | 154 | 28 | (8) |
| Noninterest expense | 17770 | 5826 | 4659 | 3184 | 3811 | 290 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 9142 | 3375 | 1343 | 2654 | 2746 | (976) |
| Income tax expense (benefit) | 1782 | 844 | 336 | 730 | 796 | (924) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $7360 | $2531 | $1007 | $1924 | $1950 | $(52) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1093738 | $315038 | $232326 | $378733 | $159625 | $8016 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3349011 | 1029320 | 330607 | 673883 | 969282 | 345919 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1958332 | 947550 | 286399 | 575185 | 38809 | 110389 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1110625 | $318337 | $234304 | $384208 | $166348 | $7428 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3349039 | 1054637 | 329816 | 687169 | 959477 | 317940 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1989564 | 972064 | 285063 | 591619 | 38268 | 102550 |
|  | Fourth Quarter 2024 | Fourth Quarter 2024 | Fourth Quarter 2024 | Fourth Quarter 2024 | Fourth Quarter 2024 | Fourth Quarter 2024 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $14513 | $8485 | $1753 | $3270 | $1026 | $(21) |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1622 | 1397 | 13 | 200 | 15 | (3) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1554 | 622 | 26 | 808 | 97 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4713 | 84 | 4057 | 21 | 555 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1654 |  | 62 | 985 | 639 | (32) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 9543 | 2103 | 4158 | 2014 | 1306 | (38) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 2503 | 5 | 36 | 63 | 2381 | 18 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 70 | 53 | 55 | 749 | 125 | (912) |
| Total noninterest income (loss) | 12116 | 2161 | 4249 | 2826 | 3812 | (932) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 26629 | 10646 | 6002 | 6096 | 4838 | (953) |
| Provision for credit losses | 1452 | 1254 | 3 | 190 | 10 | (5) |
| Noninterest expense | 16787 | 5631 | 4438 | 2951 | 3505 | 262 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 8390 | 3761 | 1561 | 2955 | 1323 | (1210) |
| Income tax expense (benefit) | 1584 | 940 | 390 | 812 | 384 | (942) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $6806 | $2821 | $1171 | $2143 | $939 | $(268) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1081009 | $316069 | $228779 | $375345 | $152426 | $8390 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3315578 | 1023388 | 329164 | 678826 | 918582 | 365618 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1957950 | 942302 | 285023 | 581950 | 36958 | 111717 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1095835 | $318754 | $231981 | $379473 | $157450 | $8177 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3261299 | 1034370 | 338367 | 670505 | 876548 | 341509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1965467 | 952311 | 292278 | 578159 | 38848 | 103871 |

---

<sup>(1)</sup> Total assets include asset allocations to match liabilities (i.e., deposits).

 11

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** |
| (Dollars in millions) |  |  |  |  |  |  |
|  | Third Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 | Third Quarter 2024 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $14114 | $8278 | $1709 | $3230 | $898 | $(1) |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1618 | 1402 | 9 | 200 | 14 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1552 | 631 | 24 | 802 | 95 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4546 | 80 | 3874 | 31 | 562 | (1) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1403 |  | 64 | 783 | 589 | (33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 9119 | 2113 | 3971 | 1816 | 1260 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3278 | 5 | 35 | 66 | 3349 | (177) |
| &nbsp;&nbsp;&nbsp;Other income (loss)  | (151) | 22 | 47 | 543 | 123 | (886) |
| Total noninterest income (loss) | 12246 | 2140 | 4053 | 2425 | 4732 | (1104) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 26360 | 10418 | 5762 | 5655 | 5630 | (1105) |
| Provision for credit losses | 1542 | 1302 | 7 | 229 | 7 | (3) |
| Noninterest expense | 16479 | 5534 | 4340 | 2991 | 3443 | 171 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 8339 | 3582 | 1415 | 2435 | 2180 | (1273) |
| Income tax expense (benefit) | 1628 | 895 | 354 | 670 | 632 | (923) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $6711 | $2687 | $1061 | $1765 | $1548 | $(350) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1059728 | $313781 | $225355 | $371216 | $140806 | $8570 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3293900 | 1019085 | 322924 | 647109 | 924041 | 380741 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1920748 | 938364 | 279999 | 549629 | 34952 | 117804 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1075800 | $316097 | $227318 | $375159 | $148447 | $8779 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3323917 | 1026293 | 328831 | 650558 | 958172 | 360063 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1930352 | 944358 | 283432 | 556953 | 35142 | 110467 |
|  | Second Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 | Second Quarter 2024 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $13862 | $8118 | $1693 | $3275 | $770 | $6 |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1581 | 1361 | 9 | 198 | 20 | (7) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1507 | 614 | 24 | 775 | 93 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4320 | 78 | 3707 | 21 | 516 | (2) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1561 |  | 57 | 835 | 719 | (50) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 8969 | 2053 | 3797 | 1829 | 1348 | (58) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3298 | 6 | 38 | 78 | 3218 | (42) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 336 | 29 | 46 | 788 | 124 | (651) |
| Total noninterest income (loss) | 12603 | 2088 | 3881 | 2695 | 4690 | (751) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 26465 | 10206 | 5574 | 5970 | 5460 | (745) |
| Provision for credit losses | 1508 | 1281 | 7 | 235 | (13) | (2) |
| Noninterest expense | 16309 | 5464 | 4199 | 2899 | 3486 | 261 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 8648 | 3461 | 1368 | 2836 | 1987 | (1004) |
| Income tax expense (benefit) | 1845 | 866 | 342 | 780 | 576 | (719) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $6803 | $2595 | $1026 | $2056 | $1411 | $(285) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1051472 | $312254 | $222776 | $372738 | $135106 | $8598 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3272956 | 1029777 | 330958 | 623993 | 908469 | 379759 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1909925 | 949180 | 287678 | 525357 | 31944 | 115766 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1056785 | $312801 | $224837 | $372421 | $138441 | $8285 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3257896 | 1033960 | 324476 | 619798 | 887108 | 392554 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1910491 | 952473 | 281283 | 522525 | 33151 | 121059 |

---

<sup>(1)</sup> Total assets include asset allocations to match liabilities (i.e., deposits).

 12

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** | **Quarterly Results by Business Segment and All Other (continued)** |
| (Dollars in millions) |  |  |  |  |  |  |
|  | First Quarter 2024 | First Quarter 2024 | First Quarter 2024 | First Quarter 2024 | First Quarter 2024 | First Quarter 2024 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $14190 | $8197 | $1814 | $3460 | $681 | $38 |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 1463 | 1272 | 10 | 188 | 17 | (24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 1442 | 578 | 23 | 750 | 90 | 1 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 4187 | 78 | 3600 | 18 | 495 | (4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 1568 |  | 63 | 850 | 708 | (53) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 8660 | 1928 | 3696 | 1806 | 1310 | (80) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 3888 | 5 | 34 | 68 | 3830 | (49) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 283 | 36 | 47 | 693 | 63 | (556) |
| Total noninterest income (loss) | 12831 | 1969 | 3777 | 2567 | 5203 | (685) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 27021 | 10166 | 5591 | 6027 | 5884 | (647) |
| Provision for credit losses | 1319 | 1150 | (13) | 229 | (36) | (11) |
| Noninterest expense | 17237 | 5475 | 4264 | 3012 | 3492 | 994 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 8465 | 3541 | 1340 | 2786 | 2428 | (1630) |
| Income tax expense (benefit) | 1812 | 885 | 335 | 766 | 704 | (878) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $6653 | $2656 | $1005 | $2020 | $1724 | $(752) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1047890 | $313038 | $218616 | $373608 | $133756 | $8872 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3245247 | 1033101 | 341119 | 622990 | 895323 | 352714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1907462 | 952466 | 297373 | 525699 | 32585 | 99339 |
| **Period end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1049156 | $311725 | $219844 | $373403 | $135267 | $8917 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3273884 | 1060482 | 343718 | 623023 | 902686 | 343975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1946496 | 978761 | 298039 | 527113 | 34847 | 107736 |

---

<sup>(1)</sup> Total assets include asset allocations to match liabilities (i.e., deposits).

 13

------

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** | **Annual Results by Business Segment and All Other** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 | Year Ended December 31, 2024 |
|  | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $56679 | $33078 | $6969 | $13235 | $3375 | $22 |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 6284 | 5432 | 41 | 786 | 66 | (41) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 6055 | 2445 | 97 | 3135 | 375 | 3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 17766 | 320 | 15238 | 91 | 2128 | (11) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 6186 |  | 246 | 3453 | 2655 | (168) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 36291 | 8197 | 15622 | 7465 | 5224 | (217) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 12967 | 21 | 143 | 275 | 12778 | (250) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 538 | 140 | 195 | 2773 | 435 | (3005) |
| Total noninterest income (loss) | 49796 | 8358 | 15960 | 10513 | 18437 | (3472) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 106475 | 41436 | 22929 | 23748 | 21812 | (3450) |
| Provision for credit losses | 5821 | 4987 | 4 | 883 | (32) | (21) |
| Noninterest expense | 66812 | 22104 | 17241 | 11853 | 13926 | 1688 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 33842 | 14345 | 5684 | 11012 | 7918 | (5117) |
| Income tax expense (benefit) | 6869 | 3586 | 1421 | 3028 | 2296 | (3462) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $26973 | $10759 | $4263 | 7984 | $5622 | $(1655) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1060081 | $313792 | $223899 | $373227 | $140557 | $8606 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3282045 | 1026310 | 331014 | 643337 | 911657 | 369727 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1924106 | 945549 | 287491 | 545769 | 34120 | 111177 |
| **Year end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1095835 | $318754 | $231981 | $379473 | $157450 | $8177 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3261299 | 1034370 | 338367 | 670505 | 876548 | 341509 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1965467 | 952311 | 292278 | 578159 | 38848 | 103871 |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 | Year Ended December 31, 2023 |
| | Total<br>Corporation | Consumer Banking | GWIM | Global Banking | Global Markets | All<br>Other |
| Net interest income | $57498 | $33689 | $7147 | $14645 | $1678 | $339 |
| Noninterest income |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Fees and commissions: |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Card income | 6054 | 5264 | 45 | 781 | 66 | (102) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Service charges | 5684 | 2317 | 78 | 2952 | 335 | 2 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 15563 | 308 | 13213 | 57 | 1993 | (8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 4708 |  | 171 | 2819 | 1874 | (156) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total fees and commissions | 32009 | 7889 | 13507 | 6609 | 4268 | (264) |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 12732 | 20 | 137 | 190 | 13430 | (1045) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other income (loss) | 1097 | 433 | 314 | 3111 | 157 | (2918) |
| Total noninterest income (loss) | 45838 | 8342 | 13958 | 9910 | 17855 | (4227) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 103336 | 42031 | 21105 | 24555 | 19533 | (3888) |
| Provision for credit losses | 4394 | 5158 | 6 | (586) | (131) | (53) |
| Noninterest expense | 65845 | 21416 | 15836 | 11344 | 13206 | 4043 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income (loss) before income taxes | 33097 | 15457 | 5263 | 13797 | 6458 | (7878) |
| Income tax expense (benefit) | 6792 | 3864 | 1316 | 3725 | 1776 | (3889) |
| &nbsp;&nbsp;&nbsp;**Net income (loss)** | $26305 | $11593 | $3947 | 10072 | $4682 | $(3989) |
| **Average** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1046256 | $308690 | $219503 | $378762 | $129657 | $9644 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3152461 | 1071853 | 342531 | 603093 | 869699 | 265285 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1887541 | 992750 | 298335 | 505627 | 33278 | 57551 |
| **Year end** |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $1053732 | $315119 | $219657 | $373891 | $136223 | $8842 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(1)</sup> | 3180515 | 1049830 | 344626 | 621682 | 817531 | 346846 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 1923827 | 969572 | 299657 | 527060 | 34833 | 92705 |

---

<sup>(1)</sup> Total assets include asset allocations to match liabilities (i.e., deposits).

 14

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** | **Consumer Banking Segment Results** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| Net interest income | $33078 | $33689 | $8988 | $8726 | $8505 | $8485 | $8278 | $8118 | $8197 |
| Noninterest income: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Card income | 5432 | 5264 | 1403 | 1415 | 1297 | 1397 | 1402 | 1361 | 1272 |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges | 2445 | 2317 | 645 | 627 | 618 | 622 | 631 | 614 | 578 |
| &nbsp;&nbsp;&nbsp;&nbsp;All other income | 481 | 761 | 130 | 45 | 73 | 142 | 107 | 113 | 119 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 8358 | 8342 | 2178 | 2087 | 1988 | 2161 | 2140 | 2088 | 1969 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 41436 | 42031 | 11166 | 10813 | 10493 | 10646 | 10418 | 10206 | 10166 |
| Provision for credit losses | 4987 | 5158 | 1009 | 1282 | 1292 | 1254 | 1302 | 1281 | 1150 |
| Noninterest expense | 22104 | 21416 | 5575 | 5567 | 5826 | 5631 | 5534 | 5464 | 5475 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 14345 | 15457 | 4582 | 3964 | 3375 | 3761 | 3582 | 3461 | 3541 |
| Income tax expense | 3586 | 3864 | 1145 | 991 | 844 | 940 | 895 | 866 | 885 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $10759 | $11593 | $3437 | $2973 | $2531 | $2821 | $2687 | $2595 | $2656 |
| Net interest yield | 3.34% | 3.26% | 3.59% | 3.51% | 3.48% | 3.42% | 3.35% | 3.29% | 3.31% |
| Efficiency ratio | 53.35 | 50.95 | 49.92 | 51.48 | 55.53 | 52.89 | 53.12 | 53.54 | 53.86 |
| Return on average allocated capital <sup>(1)</sup> | 25 | 28 | 31 | 27 | 23 | 26 | 25 | 24 | 25 |
| **<u>Balance Sheet</u>** |  |  |  |  |  |  |  |  |  |
| **Average** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $313792 | $308690 | $320297 | $319142 | $315038 | $316069 | $313781 | $312254 | $313038 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 988950 | 1032525 | 992007 | 996193 | 992252 | 985990 | 982058 | 992304 | 995556 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 1026310 | 1071853 | 1029529 | 1033776 | 1029320 | 1023388 | 1019085 | 1029777 | 1033101 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 945549 | 992750 | 947414 | 951986 | 947550 | 942302 | 938364 | 949180 | 952466 |
| &nbsp;&nbsp;&nbsp;Allocated capital <sup>(1)</sup> | 43250 | 42000 | 44000 | 44000 | 44000 | 43250 | 43250 | 43250 | 43250 |
| **Period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $318754 | $315119 | $321905 | $320908 | $318337 | $318754 | $316097 | $312801 | $311725 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 995369 | 1009360 | 994931 | 999094 | 1016785 | 995369 | 988856 | 995348 | 1022320 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 1034370 | 1049830 | 1032826 | 1037407 | 1054637 | 1034370 | 1026293 | 1033960 | 1060482 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 952311 | 969572 | 949100 | 954373 | 972064 | 952311 | 944358 | 952473 | 978761 |

---

<sup>(1)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

<sup>(2)&nbsp;&nbsp;&nbsp;&nbsp;</sup>Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

 15

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** | **Global Wealth & Investment Management Segment Results** |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| Net interest income | $6969 | $7147 | $1800 | $1762 | $1765 | $1753 | $1709 | $1693 | $1814 |
| Noninterest income: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 15238 | 13213 | 4334 | 4033 | 4089 | 4057 | 3874 | 3707 | 3600 |
| &nbsp;&nbsp;&nbsp;&nbsp;All other income | 722 | 745 | 178 | 142 | 162 | 192 | 179 | 174 | 177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 15960 | 13958 | 4512 | 4175 | 4251 | 4249 | 4053 | 3881 | 3777 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 22929 | 21105 | 6312 | 5937 | 6016 | 6002 | 5762 | 5574 | 5591 |
| Provision for credit losses | 4 | 6 | 4 | 20 | 14 | 3 | 7 | 7 | (13) |
| Noninterest expense | 17241 | 15836 | 4622 | 4593 | 4659 | 4438 | 4340 | 4199 | 4264 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 5684 | 5263 | 1686 | 1324 | 1343 | 1561 | 1415 | 1368 | 1340 |
| Income tax expense | 1421 | 1316 | 421 | 331 | 336 | 390 | 354 | 342 | 335 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $4263 | $3947 | $1265 | $993 | $1007 | $1171 | $1061 | $1026 | $1005 |
| Net interest yield | 2.20% | 2.17% | 2.33% | 2.31% | 2.26% | 2.21% | 2.20% | 2.15% | 2.23% |
| Efficiency ratio | 75.19 | 75.04 | 73.22 | 77.36 | 77.44 | 73.93 | 75.32 | 75.34 | 76.27 |
| Return on average allocated capital <sup>(1)</sup> | 23 | 21 | 26 | 20 | 21 | 25 | 23 | 22 | 22 |
| **<u>Balance Sheet</u>** |  |  |  |  |  |  |  |  |  |
| **Average** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $223899 | $219503 | $245523 | $237377 | $232326 | $228779 | $225355 | $222776 | $218616 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 317283 | 329493 | 306384 | 306490 | 316887 | 315071 | 309231 | 317250 | 327692 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 331014 | 342531 | 320484 | 320224 | 330607 | 329164 | 322924 | 330958 | 341119 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 287491 | 298335 | 276534 | 276825 | 286399 | 285023 | 279999 | 287678 | 297373 |
| &nbsp;&nbsp;&nbsp;Allocated capital <sup>(1)</sup> | 18500 | 18500 | 19750 | 19750 | 19750 | 18500 | 18500 | 18500 | 18500 |
| **Period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $231981 | $219657 | $252986 | $241142 | $234304 | $231981 | $227318 | $224837 | $219844 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 323496 | 330653 | 310732 | 305793 | 315663 | 323496 | 314594 | 310055 | 329515 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 338367 | 344626 | 325605 | 320820 | 329816 | 338367 | 328831 | 324476 | 343718 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 292278 | 299657 | 278931 | 275778 | 285063 | 292278 | 283432 | 281283 | 298039 |

---

<sup>(1)</sup> Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

<sup>(2)</sup> Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

 16

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** | **Global Banking Segment Results** |
| (Dollars in millions) |  |  |  |  |  |  |  |  |  |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second <br>Quarter <br>2024 | First <br>Quarter <br>2024 |
| Net interest income | $13235 | $14645 | $3141 | $3081 | $3151 | $3270 | $3230 | $3275 | $3460 |
| Noninterest income: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Service charges | 3135 | 2952 | 863 | 864 | 826 | 808 | 802 | 775 | 750 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 3453 | 2819 | 1155 | 767 | 847 | 985 | 783 | 835 | 850 |
| &nbsp;&nbsp;&nbsp;&nbsp;All other income | 3925 | 4139 | 1030 | 977 | 1168 | 1033 | 840 | 1085 | 967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 10513 | 9910 | 3048 | 2608 | 2841 | 2826 | 2425 | 2695 | 2567 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | 23748 | 24555 | 6189 | 5689 | 5992 | 6096 | 5655 | 5970 | 6027 |
| Provision for credit losses | 883 | (586) | 269 | 277 | 154 | 190 | 229 | 235 | 229 |
| Noninterest expense | 11853 | 11344 | 3044 | 3070 | 3184 | 2951 | 2991 | 2899 | 3012 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 11012 | 13797 | 2876 | 2342 | 2654 | 2955 | 2435 | 2836 | 2786 |
| Income tax expense | 3028 | 3725 | 791 | 644 | 730 | 812 | 670 | 780 | 766 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $7984 | $10072 | $2085 | $1698 | $1924 | $2143 | $1765 | $2056 | $2020 |
| Net interest yield | 2.29% | 2.73% | 1.87% | 1.94% | 2.10% | 2.12% | 2.21% | 2.36% | 2.49% |
| Efficiency ratio | 49.91 | 46.20 | 49.16 | 53.98 | 53.14 | 48.39 | 52.90 | 48.55 | 49.98 |
| Return on average allocated capital <sup>(1)</sup> | 16 | 20 | 16 | 13 | 15 | 17 | 14 | 17 | 17 |
| **<u>Balance Sheet</u>** |  |  |  |  |  |  |  |  |  |
| **Average** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $373227 | $378762 | $388482 | $387864 | $378733 | $375345 | $371216 | $372738 | $373608 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 577481 | 536961 | 665143 | 638259 | 608793 | 613204 | 580859 | 557684 | 557749 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 643337 | 603093 | 730206 | 703326 | 673883 | 678826 | 647109 | 623993 | 622990 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 545769 | 505627 | 631560 | 603410 | 575185 | 581950 | 549629 | 525357 | 525699 |
| &nbsp;&nbsp;&nbsp;Allocated capital <sup>(1)</sup> | 49250 | 49250 | 50750 | 50750 | 50750 | 49250 | 49250 | 49250 | 49250 |
| **Period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $379473 | $373891 | $386828 | $390691 | $384208 | $379473 | $375159 | $372421 | $373403 |
| &nbsp;&nbsp;&nbsp;Total earning assets <sup>(2)</sup> | 605499 | 554257 | 671971 | 673069 | 622078 | 605499 | 585788 | 552407 | 556115 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 670505 | 621682 | 737640 | 739214 | 687169 | 670505 | 650558 | 619798 | 623023 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 578159 | 527060 | 640801 | 643529 | 591619 | 578159 | 556953 | 522525 | 527113 |

---

<sup>(1)</sup> Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

<sup>(2)</sup> Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

 17

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** | **Global Markets Segment Results** |
| (Dollars in millions) |  |  |  |  |  |  |  |  |  |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter <br>2024 | First <br>Quarter <br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br> Quarter <br>2024 | First <br>Quarter <br>2024 |
| Net interest income | $3375 | $1678 | $1484 | $1267 | $1189 | $1026 | $898 | $770 | $681 |
| Noninterest income: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment and brokerage services | 2128 | 1993 | 614 | 642 | 627 | 555 | 562 | 516 | 495 |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment banking fees | 2655 | 1874 | 834 | 666 | 681 | 639 | 589 | 719 | 708 |
| &nbsp;&nbsp;&nbsp;&nbsp;Market making and similar activities | 12778 | 13430 | 3141 | 3300 | 3622 | 2381 | 3349 | 3218 | 3830 |
| &nbsp;&nbsp;&nbsp;&nbsp;All other income | 876 | 558 | 152 | 107 | 466 | 237 | 232 | 237 | 170 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total noninterest income | 18437 | 17855 | 4741 | 4715 | 5396 | 3812 | 4732 | 4690 | 5203 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense <sup>(1)</sup> | 21812 | 19533 | 6225 | 5982 | 6585 | 4838 | 5630 | 5460 | 5884 |
| Provision for credit losses | (32) | (131) | 9 | 22 | 28 | 10 | 7 | (13) | (36) |
| Noninterest expense | 13926 | 13206 | 3895 | 3806 | 3811 | 3505 | 3443 | 3486 | 3492 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | 7918 | 6458 | 2321 | 2154 | 2746 | 1323 | 2180 | 1987 | 2428 |
| Income tax expense | 2296 | 1776 | 673 | 625 | 796 | 384 | 632 | 576 | 704 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income** | $5622 | $4682 | $1648 | $1529 | $1950 | $939 | $1548 | $1411 | $1724 |
| Efficiency ratio | 63.85% | 67.61% | 62.58% | 63.61% | 57.88% | 72.43% | 61.17% | 63.81% | 59.38% |
| Return on average allocated capital <sup>(2)</sup> | 12 | 10 | 13 | 13 | 16 | 8 | 14 | 13 | 15 |
| **<u>Balance Sheet</u>** |  |  |  |  |  |  |  |  |  |
| **Average** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total trading-related assets | $634020 | $618028 | $676621 | $700413 | $668237 | $620903 | $645607 | $639763 | $629826 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 140557 | 129657 | 190994 | 176368 | 159625 | 152426 | 140806 | 135106 | 133756 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 710604 | 652352 | 813197 | 825835 | 767592 | 714762 | 728186 | 706383 | 692851 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | 911657 | 869699 | 1024300 | 1022955 | 969282 | 918582 | 924041 | 908469 | 895323 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 34120 | 33278 | 37588 | 38040 | 38809 | 36958 | 34952 | 31944 | 32585 |
| &nbsp;&nbsp;&nbsp;Allocated capital <sup>(2)</sup> | 45500 | 45500 | 49000 | 49000 | 49000 | 45500 | 45500 | 45500 | 45500 |
| **Period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total trading-related assets | $580557 | $542544 | $638176 | $670649 | $660267 | $580557 | $653798 | $619122 | $629082 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | 157450 | 136223 | 196759 | 187357 | 166348 | 157450 | 148447 | 138441 | 135267 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total earning assets | 687678 | 637955 | 793246 | 806289 | 761826 | 687678 | 742221 | 701978 | 698279 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total assets | 876548 | 817531 | 997908 | 1017594 | 959477 | 876548 | 958172 | 887108 | 902686 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 38848 | 34833 | 36883 | 38232 | 38268 | 38848 | 35142 | 33151 | 34847 |
| **Trading-related assets (average)** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Trading account securities | $324065 | $318443 | $361610 | $343971 | $346590 | $326572 | $325236 | $321204 | $323210 |
| &nbsp;&nbsp;&nbsp;&nbsp;Reverse repurchases | 137052 | 133735 | 138908 | 169064 | 143605 | 123473 | 150751 | 139901 | 134081 |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities borrowed | 135108 | 121547 | 135615 | 146889 | 136800 | 132334 | 133588 | 139705 | 134852 |
| &nbsp;&nbsp;&nbsp;&nbsp;Derivative assets | 37795 | 44303 | 40488 | 40489 | 41242 | 38524 | 36032 | 38953 | 37683 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Total trading-related assets** | $634020 | $618028 | $676621 | $700413 | $668237 | $620903 | $645607 | $639763 | $629826 |

---

<sup>(1)</sup> Substantially all of *Global Markets* total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments.

<sup>(2)</sup> Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

 18

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** | **Bank of America Corporation and Subsidiaries** |
| **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> | **All Other Results** <sup>(1)</sup> |
| (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) | (Dollars in millions) |
|  | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
|  | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| Net interest income | $22 | $339 | $(26) | $(21) | $(22) | $(21) | $(1) | $6 | $38 |
| Noninterest income (loss) | (3472) | (4227) | (672) | (812) | (672) | (932) | (1104) | (751) | (685) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total revenue, net of interest expense | (3450) | (3888) | (698) | (833) | (694) | (953) | (1105) | (745) | (647) |
| Provision for credit losses | (21) | (53) | 4 | (9) | (8) | (5) | (3) | (2) | (11) |
| Noninterest expense | 1688 | 4043 | 201 | 147 | 290 | 262 | 171 | 261 | 994 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Loss before income taxes | (5117) | (7878) | (903) | (971) | (976) | (1210) | (1273) | (1004) | (1630) |
| Income tax expense (benefit) | (3462) | (3889) | (800) | (948) | (924) | (942) | (923) | (719) | (878) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Net income (loss)** | $(1655) | $(3989) | $(103) | $(23) | $(52) | $(268) | $(350) | $(285) | $(752) |
| **<u>Balance Sheet</u>** |  |  |  |  |  |  |  |  |  |
| **Average** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $8606 | $9644 | $7739 | $7702 | $8016 | $8390 | $8570 | $8598 | $8872 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(2)</sup> | 369727 | 265285 | 328928 | 349999 | 345919 | 365618 | 380741 | 379759 | 352714 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 111177 | 57551 | 98338 | 103500 | 110389 | 111717 | 117804 | 115766 | 99339 |
| **Period end** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Total loans and leases | $8177 | $8842 | $7422 | $6958 | $7428 | $8177 | $8779 | $8285 | $8917 |
| &nbsp;&nbsp;&nbsp;Total assets <sup>(3)</sup> | 341509 | 346846 | 309170 | 325763 | 317940 | 341509 | 360063 | 392554 | 343975 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total deposits | 103871 | 92705 | 96493 | 99701 | 102550 | 103871 | 110467 | 121059 | 107736 |

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<sup>(1)</sup> *All Other* primarily consists of asset and liability management (ALM) activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass interest rate and foreign currency risk management activities for which substantially all of the results are allocated to our business segments.

<sup>(2)</sup> Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $956.5 billion and $977.4 billion for the years ended December 31, 2024 and 2023, $994.4 billion, $981.6 billion and $976.7 billion for the third, second and first quarters of 2025, and $976.3 billion, $946.3 billion, $943.5 billion and $959.8 billion for the fourth, third, second and first quarters of 2024, respectively.

<sup>(3)</sup> Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $1.0 trillion, $1.0 trillion, $1.0 trillion, $980.4 billion, $955.6 billion, $933.0 billion, $988.9 billion and $974.7 billion at September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, June 30, 2024, March 31, 2024 and December 31, 2023, respectively.

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| **Exhibit A: Non-GAAP Reconciliations**<br>**Bank of America Corporation and Subsidiaries**<br>**Reconciliations to GAAP Financial Measures** |
| (Dollars in millions, except per share information) |

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The Corporation evaluates its business using certain non-GAAP financial measures, including pretax, pre-provision income and ratios that utilize tangible equity and tangible assets, each of which is a non-GAAP financial measure. Tangible equity represents shareholders' equity or common shareholders' equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities ("adjusted" shareholders' equity or common shareholders' equity). Return on average tangible common shareholders' equity measures the Corporation's net income applicable to common shareholders as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by total tangible assets (total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities). Return on average tangible shareholders' equity measures the Corporation's net income as a percentage of adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity divided by total tangible assets. Tangible book value per common share represents adjusted ending common shareholders' equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation's use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders' equity as key measures to support our overall growth goals.

See the tables below for reconciliations of these non-GAAP financial measures to the most directly comparable financial measures defined by GAAP for the years ended December 31, 2024 and 2023, and the three months ended September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, September 30, 2024, June 30, 2024 and March 31, 2024. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate these non-GAAP financial measures differently.

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | Year Ended December 31 | Year Ended December 31 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| | 2024 | 2023 | Third<br>Quarter<br>2025 | Second<br>Quarter<br>2025 | First<br>Quarter<br>2025 | Fourth<br>Quarter<br>2024 | Third<br>Quarter<br>2024 | Second<br>Quarter<br>2024 | First<br>Quarter<br>2024 |
| **Reconciliation of income before income taxes to pretax, pre-provision income** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Income before income taxes | $33223 | $32530 | $10408 | $8668 | $8997 | $8236 | $8192 | $8488 | $8307 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision for credit losses | 5821 | 4394 | 1295 | 1592 | 1480 | 1452 | 1542 | 1508 | 1319 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Pretax, pre-provision income** | $39044 | $36924 | $11703 | $10260 | $10477 | $9688 | $9734 | $9996 | $9626 |
| **Reconciliation of average shareholders' equity to average tangible shareholders' equity and average tangible common shareholders' equity** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | $292467 | $281861 | $300381 | $295329 | $294187 | $293398 | $293431 | $291943 | $291074 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (69021) | (69022) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (excluding mortgage servicing<br> rights) | (1961) | (2039) | (1873) | (1893) | (1912) | (1932) | (1951) | (1971) | (1990) |
| &nbsp;&nbsp;&nbsp;&nbsp;Related deferred tax liabilities | 866 | 893 | 839 | 846 | 851 | 859 | 864 | 869 | 874 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tangible shareholders' equity** | $222351 | $211693 | $230326 | $225261 | $224105 | $223304 | $223323 | $221820 | $220937 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | (26487) | (28397) | (25232) | (22573) | (22307) | (23493) | (25984) | (28113) | (28397) |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tangible common shareholders' equity** | $195864 | $183296 | $205094 | $202688 | $201798 | $199811 | $197339 | $193707 | $192540 |
| **Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity and period-end tangible common shareholders' equity** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Shareholders' equity | $293963 | $290209 | $302437 | $298021 | $293949 | $293963 | $294774 | $292340 | $292094 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (excluding mortgage servicing<br> rights) | (1919) | (1997) | (1860) | (1880) | (1899) | (1919) | (1938) | (1958) | (1977) |
| &nbsp;&nbsp;&nbsp;&nbsp;Related deferred tax liabilities | 851 | 874 | 828 | 842 | 846 | 851 | 859 | 864 | 869 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tangible shareholders' equity** | $223874 | $220065 | $232384 | $227962 | $223875 | $223874 | $224674 | $222225 | $221965 |
| &nbsp;&nbsp;&nbsp;&nbsp;Preferred stock | (23159) | (28397) | (25992) | (23495) | (20499) | (23159) | (24554) | (26548) | (28397) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Tangible common shareholders' equity** | $200715 | $191668 | $206392 | $204467 | $203376 | $200715 | $200120 | $195677 | $193568 |
| **Reconciliation of period-end assets to period-end <br> tangible assets** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Assets | $3261299 | $3180515 | $3403149 | $3440798 | $3349039 | $3261299 | $3323917 | $3257896 | $3273884 |
| &nbsp;&nbsp;&nbsp;&nbsp;Goodwill | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) | (69021) |
| &nbsp;&nbsp;&nbsp;&nbsp;Intangible assets (excluding mortgage servicing <br> rights) | (1919) | (1997) | (1860) | (1880) | (1899) | (1919) | (1938) | (1958) | (1977) |
| &nbsp;&nbsp;&nbsp;&nbsp;Related deferred tax liabilities | 851 | 874 | 828 | 842 | 846 | 851 | 859 | 864 | 869 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tangible assets** | $3191210 | $3110371 | $3333096 | $3370739 | $3278965 | $3191210 | $3253817 | $3187781 | $3203755 |
| **Book value per share of common stock** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Common shareholders' equity | $270804 | $261812 | $276445 | $274526 | $273450 | $270804 | $270220 | $265792 | $263697 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ending common shares issued and outstanding | 7610.9 | 7895.5 | 7329.4 | 7436.7 | 7560.1 | 7610.9 | 7688.8 | 7774.8 | 7866.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Book value per share of common stock** | $35.58 | $33.16 | $37.72 | $36.92 | $36.17 | $35.58 | $35.14 | $34.19 | $33.52 |
| **Tangible book value per share of common stock** |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Tangible common shareholders' equity | $200715 | $191668 | $206392 | $204467 | $203376 | $200715 | $200120 | $195677 | $193568 |
| &nbsp;&nbsp;&nbsp;&nbsp;Ending common shares issued and outstanding | 7610.9 | 7895.5 | 7329.4 | 7436.7 | 7560.1 | 7610.9 | 7688.8 | 7774.8 | 7866.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;**Tangible book value per share of common stock** | $26.37 | $24.28 | $28.16 | $27.49 | $26.90 | $26.37 | $26.03 | $25.17 | $24.61 |

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