Exhibit 99.1



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Revised Supplemental Information
to Reflect Changes in Accounting Methods
for Certain Tax-related Equity Investments
        












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
Table of ContentsPage
 
Consumer Banking
Global Wealth & Investment Management
Global Banking
Global Markets
All Other
Description of Accounting Changes
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 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.

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.

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.
Key Performance Indicators
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.
Business Segment Operations
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.



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
 Quarter
 2024		First
 Quarter
 2024
 20242023
Income statement
Net interest income$56,060 $56,931 $15,233 $14,670 $14,443 $14,359 $13,967 $13,702 $14,032 
Noninterest income49,796 45,838 13,807 12,773 13,804 12,116 12,246 12,603 12,831 
Total revenue, net of interest expense105,856 102,769 29,040 27,443 28,247 26,475 26,213 26,305 26,863 
Provision for credit losses5,821 4,394 1,295 1,592 1,480 1,452 1,542 1,508 1,319 
Noninterest expense66,812 65,845 17,337 17,183 17,770 16,787 16,479 16,309 17,237 
Income before income taxes33,223 32,530 10,408 8,668 8,997 8,236 8,192 8,488 8,307 
Pretax, pre-provision income (1)
39,044 36,924 11,703 10,260 10,477 9,688 9,734 9,996 9,626 
Income tax expense6,250 6,225 2,076 1,498 1,637 1,430 1,481 1,685 1,654 
Net income 26,973 26,305 8,332 7,170 7,360 6,806 6,711 6,803 6,653 
Preferred stock dividends1,629 1,649 429 291 406 266 516 315 532 
Net income applicable to common shareholders25,344 24,656 7,903 6,879 6,954 6,540 6,195 6,488 6,121 
Diluted earnings per common share3.19 3.05 1.04 0.90 0.89 0.83 0.78 0.82 0.76 
Average diluted common shares issued and
   outstanding		7,935.8 8,080.5 7,627.1 7,651.6 7,770.8 7,843.7 7,902.1 7,960.9 8,031.4 
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
Return on average assets0.82 %0.83 %0.96 %0.84 %0.89 %0.82 %0.81 %0.84 %0.82 %
Return on average common shareholders’ equity9.53 9.73 11.40 10.12 10.37 9.64 9.22 9.89 9.37 
Return on average shareholders’ equity9.22 9.33 11.01 9.74 10.15 9.23 9.10 9.37 9.19 
Return on average tangible common shareholders’
   equity (2)
12.94 13.45 15.29 13.61 13.97 13.02 12.49 13.47 12.79 
Return on average tangible shareholders’ equity (2)
12.13 12.43 14.35 12.77 13.32 12.12 11.96 12.34 12.11 
Efficiency ratio 63.12 64.07 59.70 62.61 62.91 63.41 62.86 62.00 64.17 
At period end
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 (2)
26.37 24.28 28.16 27.49 26.90 26.37 26.03 25.17 24.61 
Market capitalization334,497 265,840 378,125 351,904 315,482 334,497 305,090 309,202 298,312 
Number of financial centers - U.S.3,700 3,845 3,649 3,664 3,681 3,700 3,741 3,786 3,804 
Number of branded ATMs - U.S.14,893 15,168 14,920 14,904 14,866 14,893 14,900 14,972 15,028 
Headcount213,193 212,985 213,384 213,388 212,732 213,193 213,491 212,318 212,335 
(1)    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.)
(2)    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

Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
 Quarter
 2024		First
 Quarter
 2024
 20242023
Net interest income
Interest income$146,607 $130,262 $35,366 $34,873 $34,066 $35,977 $37,491 $36,854 $36,285 
Interest expense90,547 73,331 20,133 20,203 19,623 21,618 23,524 23,152 22,253 
Net interest income56,060 56,931 15,233 14,670 14,443 14,359 13,967 13,702 14,032 
Noninterest income
Fees and commissions36,291 32,009 10,337 9,469 9,415 9,543 9,119 8,969 8,660 
Market making and similar activities12,967 12,732 3,203 3,153 3,584 2,503 3,278 3,298 3,888 
Other income (loss)538 1,097 267 151 805 70 (151)336 283 
Total noninterest income49,796 45,838 13,807 12,773 13,804 12,116 12,246 12,603 12,831 
Total revenue, net of interest
   expense		105,856 102,769 29,040 27,443 28,247 26,475 26,213 26,305 26,863 
Provision for credit losses5,821 4,394 1,295 1,592 1,480 1,452 1,542 1,508 1,319 
Noninterest expense
Compensation and benefits40,182 38,330 10,523 10,332 10,889 10,245 9,916 9,826 10,195 
Occupancy and equipment7,289 7,164 1,872 1,836 1,856 1,824 1,836 1,818 1,811 
Information processing and
   communications		7,231 6,707 1,827 1,819 1,894 1,884 1,784 1,763 1,800 
Product delivery and transaction
   related		3,494 3,608 1,025 974 914 903 849 891 851 
Professional fees2,669 2,159 606 640 652 744 723 654 548 
Marketing1,956 1,927 572 563 506 510 504 487 455 
Other general operating3,991 5,950 912 1,019 1,059 677 867 870 1,577 
Total noninterest expense66,812 65,845 17,337 17,183 17,770 16,787 16,479 16,309 17,237 
Income before income taxes33,223 32,530 10,408 8,668 8,997 8,236 8,192 8,488 8,307 
Income tax expense6,250 6,225 2,076 1,498 1,637 1,430 1,481 1,685 1,654 
Net income$26,973 $26,305 $8,332 $7,170 $7,360 $6,806 $6,711 $6,803 $6,653 
Preferred stock dividends1,629 1,649 429 291 406 266 516 315 532 
Net income applicable to
   common shareholders		$25,344 $24,656 $7,903 $6,879 $6,954 $6,540 $6,195 $6,488 $6,121 
Per common share information
Earnings$3.23 $3.07 $1.06 $0.91 $0.91 $0.85 $0.79 $0.82 $0.77 
Diluted earnings3.19 3.05 1.04 0.90 0.89 0.83 0.78 0.82 0.76 
Average common shares issued and
   outstanding		7,855.5 8,028.6 7,466.0 7,581.2 7,677.9 7,738.4 7,818.0 7,897.9 7,968.2 
Average diluted common shares
   issued and outstanding		7,935.8 8,080.5 7,627.1 7,651.6 7,770.8 7,843.7 7,902.1 7,960.9 8,031.4 

Consolidated Statement of Comprehensive Income
(Dollars in millions)
Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
20242023
Net income $26,973 $26,305 $8,332 $7,170 $7,360 $6,806 $6,711 $6,803 $6,653 
Other comprehensive income (loss),
   net-of-tax:
Net change in debt securities158 573 438 (315)366 (286)417 (305)332 
Net change in debit valuation
   adjustments		(127)(686)(305)(153)297 8 — 53 (188)
Net change in derivatives2,428 3,919 636 1,196 1,313 (672)2,830 686 (416)
Employee benefit plan adjustments131 (439)(16)26 27 56 27 25 23 
Net change in foreign currency
   translation adjustments		(87)1 6 13 11 (57)21 (31)(20)
Other comprehensive income
   (loss)		2,503 3,368 759 767 2,014 (951)3,295 428 (269)
Comprehensive income$29,476 $29,673 $9,091 $7,937 $9,374 $5,855 $10,006 $7,231 $6,384 




3

Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions) 
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
Net interest income
Interest income
Loans and leases$61,993 $57,124 $16,191 $15,651 $15,223 $15,690 $15,725 $15,338 $15,240 
Debt securities26,007 20,226 6,958 6,913 6,767 6,712 6,833 6,325 6,137 
Federal funds sold and securities borrowed or purchased
   under agreements to resell		19,911 18,679 3,802 4,094 3,774 4,381 5,196 5,159 5,175 
Trading account assets10,376 8,773 3,195 3,057 3,008 2,679 2,726 2,516 2,455 
Other interest income28,320 25,460 5,220 5,158 5,294 6,515 7,011 7,516 7,278 
Total interest income146,607 130,262 35,366 34,873 34,066 35,977 37,491 36,854 36,285 
Interest expense
Deposits38,442 26,163 8,932 8,681 8,632 9,524 10,125 9,655 9,138 
Short-term borrowings34,538 30,553 7,172 7,435 6,963 7,993 8,940 9,070 8,535 
Trading account liabilities2,191 2,043 672 676 707 567 538 540 546 
Long-term debt15,376 14,572 3,357 3,411 3,321 3,534 3,921 3,887 4,034 
Total interest expense90,547 73,331 20,133 20,203 19,623 21,618 23,524 23,152 22,253 
Net interest income$56,060 $56,931 $15,233 $14,670 $14,443 $14,359 $13,967 $13,702 $14,032 
Noninterest income
Fees and commissions
Card income
Interchange fees (1)
$4,013 $3,983 $990 $1,036 $916 $1,029 $1,030 $1,023 $931 
Other card income2,271 2,071 639 610 602 593 588 558 532 
Total card income6,284 6,054 1,629 1,646 1,518 1,622 1,618 1,581 1,463 
Service charges
Deposit-related fees4,708 4,382 1,267 1,265 1,228 1,216 1,198 1,172 1,122 
Lending-related fees1,347 1,302 365 350 333 338 354 335 320 
Total service charges6,055 5,684 1,632 1,615 1,561 1,554 1,552 1,507 1,442 
Investment and brokerage services
Asset management fees13,875 12,002 3,972 3,698 3,738 3,702 3,533 3,370 3,270 
Brokerage fees3,891 3,561 1,091 1,082 1,075 1,011 1,013 950 917 
Total investment and brokerage services 17,766 15,563 5,063 4,780 4,813 4,713 4,546 4,320 4,187 
Investment banking fees
Underwriting income3,275 2,235 992 806 770 763 742 869 901 
Syndication fees1,221 898 438 289 369 335 274 318 294 
Financial advisory services1,690 1,575 583 333 384 556 387 374 373 
Total investment banking fees6,186 4,708 2,013 1,428 1,523 1,654 1,403 1,561 1,568 
Total fees and commissions36,291 32,009 10,337 9,469 9,415 9,543 9,119 8,969 8,660 
Market making and similar activities12,967 12,732 3,203 3,153 3,584 2,503 3,278 3,298 3,888 
Other income (loss)538 1,097 267 151 805 70 (151)336 283 
Total noninterest income$49,796 $45,838 $13,807 $12,773 $13,804 $12,116 $12,246 $12,603 $12,831 
(1)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.
    



4

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
September 30
2025		December 31
2024		December 31
2023
Assets
Cash and due from banks$25,352 $26,003 $27,892 
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks221,155 264,111 305,181 
Cash and cash equivalents246,507 290,114 333,073 
Time deposits placed and other short-term investments8,212 6,372 8,346 
Federal funds sold and securities borrowed or purchased under agreements to resell325,800 274,709 280,624 
Trading account assets335,566 314,460 277,354 
Derivative assets42,115 40,948 39,323 
Debt securities:
Carried at fair value404,636 358,607 276,852 
Held-to-maturity, at cost531,414 558,677 594,555 
Total debt securities936,050 917,284 871,407 
Loans and leases1,165,900 1,095,835 1,053,732 
Allowance for loan and lease losses(13,252)(13,240)(13,342)
Loans and leases, net of allowance1,152,648 1,082,595 1,040,390 
Premises and equipment, net12,348 12,168 11,855 
Goodwill69,021 69,021 69,021 
Loans held-for-sale6,831 9,545 6,002 
Customer and other receivables99,863 82,247 81,881 
Other assets168,188 161,836 161,239 
Total assets$3,403,149 $3,261,299 $3,180,515 
Liabilities
Deposits in U.S. offices:
Noninterest-bearing$510,208 $507,561 $530,619 
Interest-bearing1,354,445 1,329,014 1,273,904 
Deposits in non-U.S. offices:
Noninterest-bearing14,690 16,297 16,427 
Interest-bearing122,865 112,595 102,877 
Total deposits2,002,208 1,965,467 1,923,827 
Federal funds purchased and securities loaned or sold under agreements to repurchase342,588 331,758 283,887 
Trading account liabilities117,322 92,543 95,530 
Derivative liabilities40,157 39,353 43,432 
Short-term borrowings54,200 43,391 32,098 
Accrued expenses and other liabilities232,753 211,545 209,328 
Long-term debt311,484 283,279 302,204 
Total liabilities3,100,712 2,967,336 2,890,306 
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 shares25,992 23,159 28,397 
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
31,764 45,336 56,365 
Retained earnings256,426 240,753 223,235 
Accumulated other comprehensive income (loss)(11,745)(15,285)(17,788)
Total shareholders’ equity302,437 293,963 290,209 
Total liabilities and shareholders’ equity$3,403,149 $3,261,299 $3,180,515 
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets$6,063 $5,575 $6,054 
Loans and leases18,007 19,144 18,276 
Allowance for loan and lease losses(889)(919)(826)
Loans and leases, net of allowance17,118 18,225 17,450 
All other assets614 319 269 
Total assets of consolidated variable interest entities$23,795 $24,119 $23,773 
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings$4,980 $3,329 $2,957 
Long-term debt8,420 8,457 8,456 
All other liabilities22 21 19 
Total liabilities of consolidated variable interest entities$13,422 $11,807 $11,432 




5

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
 Third Quarter 2025Second Quarter 2025First Quarter 2025
Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate		Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate		Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate
Earning assets
Interest-bearing deposits with the Federal Reserve,
   non-U.S. central banks and other banks		$264,233 $2,698 4.05 %$274,839 $2,843 4.15 %$272,012 $2,810 4.19 %
Time deposits placed and other short-term
    investments		9,716 88 3.59 10,405 89 3.43 9,202 92 4.04 
Federal funds sold and securities borrowed or
   purchased under agreements to resell		316,603 3,802 4.76 353,331 4,094 4.65 322,012 3,774 4.75 
Trading account assets239,048 3,222 5.35 234,282 3,081 5.27 231,437 3,034 5.31 
Debt securities932,588 6,975 2.97 933,065 6,932 2.96 923,747 6,786 2.95 
Loans and leases (2)
Residential mortgage 235,301 2,070 3.52 235,130 2,031 3.46 228,638 1,916 3.36 
Home equity26,413 390 5.86 26,190 379 5.80 25,849 366 5.74 
Credit card100,966 2,932 11.52 100,013 2,846 11.41 100,173 2,838 11.49 
Direct/Indirect and other consumer110,127 1,525 5.49 108,955 1,484 5.47 106,847 1,432 5.43 
Total consumer472,807 6,917 5.82 470,288 6,740 5.74 461,507 6,552 5.74 
U.S. commercial443,274 5,953 5.33 427,194 5,709 5.36 411,783 5,427 5.34 
Non-U.S. commercial154,458 2,121 5.45 149,044 2,016 5.42 138,853 2,058 6.01 
Commercial real estate66,494 1,044 6.23 65,847 1,023 6.23 65,751 1,020 6.29 
Commercial lease financing16,002 216 5.37 16,080 214 5.33 15,844 215 5.46 
Total commercial680,228 9,334 5.45 658,165 8,962 5.46 632,231 8,720 5.59 
Total loans and leases 1,153,035 16,251 5.60 1,128,453 15,702 5.58 1,093,738 15,272 5.65 
Other earning assets124,965 2,484 7.89 115,831 2,277 7.89 114,695 2,443 8.63 
Total earning assets3,040,188 35,520 4.64 3,050,206 35,018 4.60 2,966,843 34,211 4.67 
Cash and due from banks24,963 24,781  23,700 
Other assets, less allowance for loan and lease losses368,296 355,293  358,468 
Total assets$3,433,447 $3,430,280  $3,349,011 
Interest-bearing liabilities
U.S. interest-bearing deposits
Demand and money market deposits (3)
$1,095,931 $6,063 2.19 %$1,078,771 $5,739 2.13 %$1,068,521 $5,526 2.10 %
Time and savings deposits (3)
257,475 1,941 2.99 259,261 1,998 3.09 262,711 2,119 3.27 
Total U.S. interest-bearing deposits1,353,406 8,004 2.35 1,338,032 7,737 2.32 1,331,232 7,645 2.33 
Non-U.S. interest-bearing deposits125,309 928 2.94 121,921 944 3.11 116,733 987 3.42 
Total interest-bearing deposits1,478,715 8,932 2.40 1,459,953 8,681 2.38 1,447,965 8,632 2.42 
Federal funds purchased and securities loaned or sold
   under agreements to repurchase 		392,431 4,800 4.85 414,655 4,946 4.78 385,091 4,629 4.87 
Short-term borrowings and other interest-bearing
    liabilities 		178,368 2,372 5.28 183,008 2,489 5.45 160,226 2,334 5.91 
Trading account liabilities52,452 672 5.08 53,805 676 5.04 53,678 707 5.34 
Long-term debt247,425 3,357 5.40 249,104 3,411 5.49 241,036 3,321 5.56 
Total interest-bearing liabilities2,349,391 20,133 3.40 2,360,525 20,203 3.43 2,287,996 19,623 3.47 
Noninterest-bearing sources  
Noninterest-bearing deposits512,719 513,808   510,367 
Other liabilities (4)
270,956 260,618   256,461 
Shareholders’ equity300,381 295,329   294,187 
Total liabilities and shareholders’ equity$3,433,447 $3,430,280   $3,349,011 
Net interest spread1.24 %  1.17 %1.20 %
Impact of noninterest-bearing sources0.77   0.77 0.79 
Net interest income/yield on earning assets (5)
$15,387 2.01 % $14,815 1.94 %$14,588 1.99 %
(1)Includes the impact of interest rate risk management contracts.
(2)Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.
(3)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.
(4)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.
(5)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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
 Fourth Quarter 2024Third Quarter 2024Second Quarter 2024
Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate		Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate		Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate
Earning assets
Interest-bearing deposits with the Federal Reserve,
   non-U.S. central banks and other banks		$319,203 $3,648 4.55 %$320,781 $4,129 5.12 %$345,423 $4,498 5.24 %
Time deposits placed and other short-term
    investments		9,824 112 4.54 10,031 108 4.29 10,845 123 4.55 
Federal funds sold and securities borrowed or
   purchased under agreements to resell		296,204 4,381 5.88 323,119 5,196 6.40 318,380 5,159 6.52 
Trading account assets210,380 2,703 5.11 214,980 2,749 5.09 202,295 2,542 5.05 
Debt securities895,903 6,734 2.99 883,562 6,859 3.08 852,427 6,352 2.98 
Loans and leases (2)
Residential mortgage 227,990 1,892 3.32 227,800 1,872 3.29 227,567 1,824 3.21 
Home equity25,767 394 6.09 25,664 418 6.48 25,529 405 6.38 
Credit card100,938 2,903 11.44 99,908 2,924 11.64 98,983 2,825 11.48 
Direct/Indirect and other consumer106,379 1,490 5.57 104,732 1,512 5.74 103,689 1,428 5.54 
Total consumer461,074 6,679 5.77 458,104 6,726 5.85 455,768 6,482 5.71 
U.S. commercial404,606 5,541 5.45 391,728 5,358 5.44 386,232 5,267 5.49 
Non-U.S. commercial132,833 2,187 6.55 125,377 2,222 7.05 123,094 2,170 7.09 
Commercial real estate67,064 1,129 6.69 69,404 1,275 7.31 71,345 1,285 7.24 
Commercial lease financing15,432 209 5.39 15,115 201 5.30 15,033 196 5.22 
Total commercial619,935 9,066 5.82 601,624 9,056 5.99 595,704 8,918 6.02 
Total loans and leases 1,081,009 15,745 5.80 1,059,728 15,782 5.93 1,051,472 15,400 5.89 
Other earning assets116,207 2,808 9.61 105,496 2,815 10.62 107,093 2,940 11.04 
Total earning assets2,928,730 36,131 4.91 2,917,697 37,638 5.14 2,887,935 37,014 5.15 
Cash and due from banks24,354 23,435  24,208 
Other assets, less allowance for loan and lease losses362,494 352,768   360,813 
Total assets$3,315,578 $3,293,900 $3,272,956 
Interest-bearing liabilities
U.S. interest-bearing deposits
Demand and money market deposits (3)
$1,069,361 $6,153 2.29 %$1,043,182 $6,603 2.52 %$1,036,834 $6,300 2.44 %
Time and savings deposits (3)
260,825 2,266 3.46 259,999 2,367 3.62 252,964 2,265 3.60 
Total U.S. interest-bearing deposits1,330,186 8,419 2.52 1,303,181 8,970 2.74 1,289,798 8,565 2.67 
Non-U.S. interest-bearing deposits115,503 1,105 3.81 110,527 1,155 4.16 106,496 1,090 4.12 
Total interest-bearing deposits1,445,689 9,524 2.62 1,413,708 10,125 2.85 1,396,294 9,655 2.78 
Federal funds purchased and securities loaned or sold
   under agreements to repurchase 		363,419 5,387 5.90 383,334 6,193 6.43 371,372 6,171 6.68 
Short-term borrowings and other interest-bearing
    liabilities 		155,956 2,606 6.65 147,579 2,747 7.41 152,742 2,899 7.64 
Trading account liabilities50,873 567 4.44 52,973 538 4.04 53,895 540 4.03 
Long-term debt238,988 3,534 5.90 247,338 3,921 6.32 243,689 3,887 6.40 
Total interest-bearing liabilities2,254,925 21,618 3.82 2,244,932 23,524 4.17 2,217,992 23,152 4.20 
Noninterest-bearing sources   
Noninterest-bearing deposits512,261 507,040   513,631 
Other liabilities (4)
254,994 248,497   249,390 
Shareholders’ equity293,398 293,431   291,943 
Total liabilities and shareholders’ equity$3,315,578 $3,293,900   $3,272,956 
Net interest spread1.09 %  0.97 %0.95 %
Impact of noninterest-bearing sources0.88   0.95 0.98 
Net interest income/yield on earning assets (5)
$14,513 1.97 % $14,114 1.92 %$13,862 1.93 %
(1)Includes the impact of interest rate risk management contracts.
(2)Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.
(3)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..
(4)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.
(5)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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
 First Quarter 2024
Average
Balance
Interest
Income/
Expense (1)
Yield/
Rate
Earning assets
Interest-bearing deposits with the Federal Reserve,
   non-U.S. central banks and other banks		$346,463 $4,531 5.26 %
Time deposits placed and other short-term
    investments		9,728 116 4.80 
Federal funds sold and securities borrowed or
   purchased under agreements to resell		304,821 5,175 6.83 
Trading account assets202,461 2,482 4.93 
Debt securities842,483 6,162 2.92 
Loans and leases (2)
Residential mortgage 227,748 1,803 3.17 
Home equity25,522 390 6.14 
Credit card99,815 2,786 11.22 
Direct/Indirect and other consumer103,371 1,399 5.45 
Total consumer456,456 6,378 5.61 
U.S. commercial379,566 5,236 5.55 
Non-U.S. commercial125,024 2,170 6.98 
Commercial real estate71,986 1,311 7.33 
Commercial lease financing14,858 200 5.41 
Total commercial591,434 8,917 6.06 
Total loans and leases 1,047,890 15,295 5.87 
Other earning assets106,737 2,682 10.10 
Total earning assets2,860,583 36,443 5.12 
Cash and due from banks24,185 
Other assets, less allowance for loan and lease losses360,479 
Total assets$3,245,247 
Interest-bearing liabilities
U.S. interest-bearing deposits
Demand and money market deposits (3)
$1,054,122 $6,121 2.34 %
Time and savings deposits (3)
228,359 1,950 3.43 
Total U.S. interest-bearing deposits1,282,481 8,071 2.53 
Non-U.S. interest-bearing deposits104,373 1,067 4.11 
Total interest-bearing deposits1,386,854 9,138 2.65 
Federal funds purchased and securities loaned or sold
   under agreements to repurchase 		350,507 6,026 6.92 
Short-term borrowings and other interest-bearing
    liabilities 		141,091 2,509 7.15 
Trading account liabilities51,757 546 4.24 
Long-term debt254,782 4,034 6.35 
Total interest-bearing liabilities2,184,991 22,253 4.10 
Noninterest-bearing sources
Noninterest-bearing deposits520,608 
Other liabilities (4)
248,574 
Shareholders’ equity291,074 
Total liabilities and shareholders’ equity$3,245,247 
Net interest spread1.02 %
Impact of noninterest-bearing sources0.97 
Net interest income/yield on earning assets (5)
$14,190 1.99 %
(1)Includes the impact of interest rate risk management contracts.
(2)Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.
(3)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..
(4)Includes $44.1 billion of structured notes and liabilities for the first quarter of 2024.
(5)Net interest income includes an FTE adjustment of $158 million for the first quarter of 2024.
8

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Year Ended
 December 31		Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
FTE basis data (1)
Net interest income$56,679 $57,498 $15,387 $14,815 $14,588 $14,513 $14,114 $13,862 $14,190 
Total revenue, net of interest expense 106,475 103,336 29,194 27,588 28,392 26,629 26,360 26,465 27,021 
Net interest yield1.95 %2.08 %2.01 %1.94 %1.99 %1.97 %1.92 %1.93 %1.99 %
Efficiency ratio 62.75 63.72 59.39 62.28 62.59 63.04 62.51 61.62 63.79 
(1)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

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
 Third Quarter 2025
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$15,387 $8,988 $1,800 $3,141 $1,484 $(26)
Noninterest income
Fees and commissions:
Card income1,629 1,403 6 204 17 (1)
Service charges1,632 645 30 863 93 1 
Investment and brokerage services5,063 94 4,334 24 614 (3)
Investment banking fees2,013 — 65 1,155 834 (41)
Total fees and commissions10,337 2,142 4,435 2,246 1,558 (44)
Market making and similar activities3,203 5 31 73 3,141 (47)
Other income (loss)
267 31 46 729 42 (581)
Total noninterest income (loss)13,807 2,178 4,512 3,048 4,741 (672)
Total revenue, net of interest expense 29,194 11,166 6,312 6,189 6,225 (698)
Provision for credit losses1,295 1,009 4 269 9 4 
Noninterest expense17,337 5,575 4,622 3,044 3,895 201 
Income (loss) before income taxes10,562 4,582 1,686 2,876 2,321 (903)
Income tax expense (benefit)2,230 1,145 421 791 673 (800)
Net income (loss)$8,332 $3,437 $1,265 $2,085 $1,648 $(103)
Average
Total loans and leases$1,153,035 $320,297 $245,523 $388,482 $190,994 $7,739 
Total assets (1)
3,433,447 1,029,529 320,484 730,206 1,024,300 328,928 
Total deposits1,991,434 947,414 276,534 631,560 37,588 98,338 
Period end
Total loans and leases$1,165,900 $321,905 $252,986 $386,828 $196,759 $7,422 
Total assets (1)
3,403,149 1,032,826 325,605 737,640 997,908 309,170 
Total deposits2,002,208 949,100 278,931 640,801 36,883 96,493 
 Second Quarter 2025
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$14,815 $8,726 $1,762 $3,081 $1,267 $(21)
Noninterest income
Fees and commissions:
Card income1,646 1,415 10 207 19 (5)
Service charges1,615 627 28 864 94 2 
Investment and brokerage services4,780 85 4,033 23 642 (3)
Investment banking fees1,428 — 65 767 666 (70)
Total fees and commissions9,469 2,127 4,136 1,861 1,421 (76)
Market making and similar activities3,153 6 28 68 3,300 (249)
Other income (loss)151 (46)11 679 (6)(487)
Total noninterest income (loss)12,773 2,087 4,175 2,608 4,715 (812)
Total revenue, net of interest expense27,588 10,813 5,937 5,689 5,982 (833)
Provision for credit losses1,592 1,282 20 277 22 (9)
Noninterest expense17,183 5,567 4,593 3,070 3,806 147 
Income (loss) before income taxes8,813 3,964 1,324 2,342 2,154 (971)
Income tax expense (benefit)1,643 991 331 644 625 (948)
Net income (loss)$7,170 $2,973 $993 $1,698 $1,529 $(23)
Average
Total loans and leases$1,128,453 $319,142 $237,377 $387,864 $176,368 $7,702 
Total assets (1)
3,430,280 1,033,776 320,224 703,326 1,022,955 349,999 
Total deposits1,973,761 951,986 276,825 603,410 38,040 103,500 
Period end
Total loans and leases$1,147,056 $320,908 $241,142 $390,691 $187,357 $6,958 
Total assets (1)
3,440,798 1,037,407 320,820 739,214 1,017,594 325,763 
Total deposits2,011,613 954,373 275,778 643,529 38,232 99,701 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).



10

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
 First Quarter 2025
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$14,588 $8,505 $1,765 $3,151 $1,189 $(22)
Noninterest income
Fees and commissions:
Card income1,518 1,297 10 202 14 (5)
Service charges1,561 618 27 826 89 1 
Investment and brokerage services4,813 83 4,089 18 627 (4)
Investment banking fees1,523 — 69 847 681 (74)
Total fees and commissions9,415 1,998 4,195 1,893 1,411 (82)
Market making and similar activities3,584 8 34 66 3,622 (146)
Other income (loss)
805 (18)22 882 363 (444)
Total noninterest income (loss)13,804 1,988 4,251 2,841 5,396 (672)
Total revenue, net of interest expense 28,392 10,493 6,016 5,992 6,585 (694)
Provision for credit losses1,480 1,292 14 154 28 (8)
Noninterest expense17,770 5,826 4,659 3,184 3,811 290 
Income (loss) before income taxes9,142 3,375 1,343 2,654 2,746 (976)
Income tax expense (benefit)1,782 844 336 730 796 (924)
Net income (loss)$7,360 $2,531 $1,007 $1,924 $1,950 $(52)
Average
Total loans and leases$1,093,738 $315,038 $232,326 $378,733 $159,625 $8,016 
Total assets (1)
3,349,011 1,029,320 330,607 673,883 969,282 345,919 
Total deposits1,958,332 947,550 286,399 575,185 38,809 110,389 
Period end
Total loans and leases$1,110,625 $318,337 $234,304 $384,208 $166,348 $7,428 
Total assets (1)
3,349,039 1,054,637 329,816 687,169 959,477 317,940 
Total deposits1,989,564 972,064 285,063 591,619 38,268 102,550 
 Fourth Quarter 2024
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$14,513 $8,485 $1,753 $3,270 $1,026 $(21)
Noninterest income
Fees and commissions:
Card income1,622 1,397 13 200 15 (3)
Service charges1,554 622 26 808 97 1 
Investment and brokerage services4,713 84 4,057 21 555 (4)
Investment banking fees1,654 — 62 985 639 (32)
Total fees and commissions9,543 2,103 4,158 2,014 1,306 (38)
Market making and similar activities2,503 5 36 63 2,381 18 
Other income (loss)70 53 55 749 125 (912)
Total noninterest income (loss)12,116 2,161 4,249 2,826 3,812 (932)
Total revenue, net of interest expense26,629 10,646 6,002 6,096 4,838 (953)
Provision for credit losses1,452 1,254 3 190 10 (5)
Noninterest expense16,787 5,631 4,438 2,951 3,505 262 
Income (loss) before income taxes8,390 3,761 1,561 2,955 1,323 (1,210)
Income tax expense (benefit)1,584 940 390 812 384 (942)
Net income (loss)$6,806 $2,821 $1,171 $2,143 $939 $(268)
Average
Total loans and leases$1,081,009 $316,069 $228,779 $375,345 $152,426 $8,390 
Total assets (1)
3,315,578 1,023,388 329,164 678,826 918,582 365,618 
Total deposits1,957,950 942,302 285,023 581,950 36,958 111,717 
Period end
Total loans and leases$1,095,835 $318,754 $231,981 $379,473 $157,450 $8,177 
Total assets (1)
3,261,299 1,034,370 338,367 670,505 876,548 341,509 
Total deposits1,965,467 952,311 292,278 578,159 38,848 103,871 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).
11

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
 Third Quarter 2024
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$14,114 $8,278 $1,709 $3,230 $898 $(1)
Noninterest income
Fees and commissions:
Card income1,618 1,402 9 200 14 (7)
Service charges1,552 631 24 802 95 — 
Investment and brokerage services4,546 80 3,874 31 562 (1)
Investment banking fees1,403 — 64 783 589 (33)
Total fees and commissions9,119 2,113 3,971 1,816 1,260 (41)
Market making and similar activities3,278 5 35 66 3,349 (177)
Other income (loss)
(151)22 47 543 123 (886)
Total noninterest income (loss)12,246 2,140 4,053 2,425 4,732 (1,104)
Total revenue, net of interest expense 26,360 10,418 5,762 5,655 5,630 (1,105)
Provision for credit losses1,542 1,302 7 229 7 (3)
Noninterest expense16,479 5,534 4,340 2,991 3,443 171 
Income (loss) before income taxes8,339 3,582 1,415 2,435 2,180 (1,273)
Income tax expense (benefit)1,628 895 354 670 632 (923)
Net income (loss)$6,711 $2,687 $1,061 $1,765 $1,548 $(350)
Average
Total loans and leases$1,059,728 $313,781 $225,355 $371,216 $140,806 $8,570 
Total assets (1)
3,293,900 1,019,085 322,924 647,109 924,041 380,741 
Total deposits1,920,748 938,364 279,999 549,629 34,952 117,804 
Period end
Total loans and leases$1,075,800 $316,097 $227,318 $375,159 $148,447 $8,779 
Total assets (1)
3,323,917 1,026,293 328,831 650,558 958,172 360,063 
Total deposits1,930,352 944,358 283,432 556,953 35,142 110,467 
 Second Quarter 2024
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$13,862 $8,118 $1,693 $3,275 $770 $6 
Noninterest income
Fees and commissions:
Card income1,581 1,361 9 198 20 (7)
Service charges1,507 614 24 775 93 1 
Investment and brokerage services4,320 78 3,707 21 516 (2)
Investment banking fees1,561 — 57 835 719 (50)
Total fees and commissions8,969 2,053 3,797 1,829 1,348 (58)
Market making and similar activities3,298 6 38 78 3,218 (42)
Other income (loss)336 29 46 788 124 (651)
Total noninterest income (loss)12,603 2,088 3,881 2,695 4,690 (751)
Total revenue, net of interest expense26,465 10,206 5,574 5,970 5,460 (745)
Provision for credit losses1,508 1,281 7 235 (13)(2)
Noninterest expense16,309 5,464 4,199 2,899 3,486 261 
Income (loss) before income taxes8,648 3,461 1,368 2,836 1,987 (1,004)
Income tax expense (benefit)1,845 866 342 780 576 (719)
Net income (loss)$6,803 $2,595 $1,026 $2,056 $1,411 $(285)
Average
Total loans and leases$1,051,472 $312,254 $222,776 $372,738 $135,106 $8,598 
Total assets (1)
3,272,956 1,029,777 330,958 623,993 908,469 379,759 
Total deposits1,909,925 949,180 287,678 525,357 31,944 115,766 
Period end
Total loans and leases$1,056,785 $312,801 $224,837 $372,421 $138,441 $8,285 
Total assets (1)
3,257,896 1,033,960 324,476 619,798 887,108 392,554 
Total deposits1,910,491 952,473 281,283 522,525 33,151 121,059 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).



12

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
 First Quarter 2024
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$14,190 $8,197 $1,814 $3,460 $681 $38 
Noninterest income
Fees and commissions:
Card income1,463 1,272 10 188 17 (24)
Service charges1,442 578 23 750 90 1 
Investment and brokerage services4,187 78 3,600 18 495 (4)
Investment banking fees1,568 — 63 850 708 (53)
Total fees and commissions8,660 1,928 3,696 1,806 1,310 (80)
Market making and similar activities3,888 5 34 68 3,830 (49)
Other income (loss)283 36 47 693 63 (556)
Total noninterest income (loss)12,831 1,969 3,777 2,567 5,203 (685)
Total revenue, net of interest expense27,021 10,166 5,591 6,027 5,884 (647)
Provision for credit losses1,319 1,150 (13)229 (36)(11)
Noninterest expense17,237 5,475 4,264 3,012 3,492 994 
Income (loss) before income taxes8,465 3,541 1,340 2,786 2,428 (1,630)
Income tax expense (benefit)1,812 885 335 766 704 (878)
Net income (loss)$6,653 $2,656 $1,005 $2,020 $1,724 $(752)
Average
Total loans and leases$1,047,890 $313,038 $218,616 $373,608 $133,756 $8,872 
Total assets (1)
3,245,247 1,033,101 341,119 622,990 895,323 352,714 
Total deposits1,907,462 952,466 297,373 525,699 32,585 99,339 
Period end
Total loans and leases$1,049,156 $311,725 $219,844 $373,403 $135,267 $8,917 
Total assets (1)
3,273,884 1,060,482 343,718 623,023 902,686 343,975 
Total deposits1,946,496 978,761 298,039 527,113 34,847 107,736 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).




13

Bank of America Corporation and Subsidiaries
Annual Results by Business Segment and All Other
(Dollars in millions) 
 Year Ended December 31, 2024
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$56,679 $33,078 $6,969 $13,235 $3,375 $22 
Noninterest income
Fees and commissions:
Card income6,284 5,432 41 786 66 (41)
Service charges6,055 2,445 97 3,135 375 3 
Investment and brokerage services17,766 320 15,238 91 2,128 (11)
Investment banking fees6,186 — 246 3,453 2,655 (168)
Total fees and commissions36,291 8,197 15,622 7,465 5,224 (217)
Market making and similar activities12,967 21 143 275 12,778 (250)
Other income (loss)538 140 195 2,773 435 (3,005)
Total noninterest income (loss)49,796 8,358 15,960 10,513 18,437 (3,472)
Total revenue, net of interest expense106,475 41,436 22,929 23,748 21,812 (3,450)
Provision for credit losses5,821 4,987 4 883 (32)(21)
Noninterest expense66,812 22,104 17,241 11,853 13,926 1,688 
Income (loss) before income taxes33,842 14,345 5,684 11,012 7,918 (5,117)
Income tax expense (benefit)6,869 3,586 1,421 3,028 2,296 (3,462)
Net income (loss)$26,973 $10,759 $4,263 7,984 $5,622 $(1,655)
Average
Total loans and leases$1,060,081 $313,792 $223,899 $373,227 $140,557 $8,606 
Total assets (1)
3,282,045 1,026,310 331,014 643,337 911,657 369,727 
Total deposits1,924,106 945,549 287,491 545,769 34,120 111,177 
Year end
Total loans and leases$1,095,835 $318,754 $231,981 $379,473 $157,450 $8,177 
Total assets (1)
3,261,299 1,034,370 338,367 670,505 876,548 341,509 
Total deposits1,965,467 952,311 292,278 578,159 38,848 103,871 

 Year Ended December 31, 2023
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$57,498 $33,689 $7,147 $14,645 $1,678 $339 
Noninterest income
Fees and commissions:
Card income6,054 5,264 45 781 66 (102)
Service charges5,684 2,317 78 2,952 335 2 
Investment and brokerage services15,563 308 13,213 57 1,993 (8)
Investment banking fees4,708 — 171 2,819 1,874 (156)
Total fees and commissions32,009 7,889 13,507 6,609 4,268 (264)
Market making and similar activities12,732 20 137 190 13,430 (1,045)
Other income (loss)1,097 433 314 3,111 157 (2,918)
Total noninterest income (loss)45,838 8,342 13,958 9,910 17,855 (4,227)
Total revenue, net of interest expense103,336 42,031 21,105 24,555 19,533 (3,888)
Provision for credit losses4,394 5,158 6 (586)(131)(53)
Noninterest expense65,845 21,416 15,836 11,344 13,206 4,043 
Income (loss) before income taxes33,097 15,457 5,263 13,797 6,458 (7,878)
Income tax expense (benefit)6,792 3,864 1,316 3,725 1,776 (3,889)
Net income (loss)$26,305 $11,593 $3,947 10,072 $4,682 $(3,989)
Average
Total loans and leases$1,046,256 $308,690 $219,503 $378,762 $129,657 $9,644 
Total assets (1)
3,152,461 1,071,853 342,531 603,093 869,699 265,285 
Total deposits1,887,541 992,750 298,335 505,627 33,278 57,551 
Year end
Total loans and leases$1,053,732 $315,119 $219,657 $373,891 $136,223 $8,842 
Total assets (1)
3,180,515 1,049,830 344,626 621,682 817,531 346,846 
Total deposits1,923,827 969,572 299,657 527,060 34,833 92,705 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).
14

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
20242023
Net interest income$33,078 $33,689 $8,988 $8,726 $8,505 $8,485 $8,278 $8,118 $8,197 
Noninterest income:
Card income5,432 5,264 1,403 1,415 1,297 1,397 1,402 1,361 1,272 
Service charges2,445 2,317 645 627 618 622 631 614 578 
All other income481 761 130 45 73 142 107 113 119 
Total noninterest income8,358 8,342 2,178 2,087 1,988 2,161 2,140 2,088 1,969 
Total revenue, net of interest expense41,436 42,031 11,166 10,813 10,493 10,646 10,418 10,206 10,166 
Provision for credit losses4,987 5,158 1,009 1,282 1,292 1,254 1,302 1,281 1,150 
Noninterest expense22,104 21,416 5,575 5,567 5,826 5,631 5,534 5,464 5,475 
Income before income taxes14,345 15,457 4,582 3,964 3,375 3,761 3,582 3,461 3,541 
Income tax expense3,586 3,864 1,145 991 844 940 895 866 885 
Net income$10,759 $11,593 $3,437 $2,973 $2,531 $2,821 $2,687 $2,595 $2,656 
Net interest yield3.34 %3.26 %3.59 %3.51 %3.48 %3.42 %3.35 %3.29 %3.31 %
Efficiency ratio53.35 50.95 49.92 51.48 55.53 52.89 53.12 53.54 53.86 
Return on average allocated capital (1)
25 28 31 27 23 26 25 24 25 
Balance Sheet
Average
Total loans and leases$313,792 $308,690 $320,297 $319,142 $315,038 $316,069 $313,781 $312,254 $313,038 
Total earning assets (2)
988,950 1,032,525 992,007 996,193 992,252 985,990 982,058 992,304 995,556 
Total assets (2)
1,026,310 1,071,853 1,029,529 1,033,776 1,029,320 1,023,388 1,019,085 1,029,777 1,033,101 
Total deposits945,549 992,750 947,414 951,986 947,550 942,302 938,364 949,180 952,466 
Allocated capital (1)
43,250 42,000 44,000 44,000 44,000 43,250 43,250 43,250 43,250 
Period end
Total loans and leases$318,754 $315,119 $321,905 $320,908 $318,337 $318,754 $316,097 $312,801 $311,725 
Total earning assets (2)
995,369 1,009,360 994,931 999,094 1,016,785 995,369 988,856 995,348 1,022,320 
Total assets (2)
1,034,370 1,049,830 1,032,826 1,037,407 1,054,637 1,034,370 1,026,293 1,033,960 1,060,482 
Total deposits952,311 969,572 949,100 954,373 972,064 952,311 944,358 952,473 978,761 
(1)    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.
(2)    Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.




15

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
Net interest income $6,969 $7,147 $1,800 $1,762 $1,765 $1,753 $1,709 $1,693 $1,814 
Noninterest income:
Investment and brokerage services15,238 13,213 4,334 4,033 4,089 4,057 3,874 3,707 3,600 
All other income722 745 178 142 162 192 179 174 177 
Total noninterest income15,960 13,958 4,512 4,175 4,251 4,249 4,053 3,881 3,777 
Total revenue, net of interest expense 22,929 21,105 6,312 5,937 6,016 6,002 5,762 5,574 5,591 
Provision for credit losses4 6 4 20 14 3 7 7 (13)
Noninterest expense17,241 15,836 4,622 4,593 4,659 4,438 4,340 4,199 4,264 
Income before income taxes 5,684 5,263 1,686 1,324 1,343 1,561 1,415 1,368 1,340 
Income tax expense 1,421 1,316 421 331 336 390 354 342 335 
Net income$4,263 $3,947 $1,265 $993 $1,007 $1,171 $1,061 $1,026 $1,005 
Net interest yield 2.20 %2.17 %2.33 %2.31 %2.26 %2.21 %2.20 %2.15 %2.23 %
Efficiency ratio75.19 75.04 73.22 77.36 77.44 73.93 75.32 75.34 76.27 
Return on average allocated capital (1)
23 21 26 20 21 25 23 22 22 
Balance Sheet
Average
Total loans and leases$223,899 $219,503 $245,523 $237,377 $232,326 $228,779 $225,355 $222,776 $218,616 
Total earning assets (2)
317,283 329,493 306,384 306,490 316,887 315,071 309,231 317,250 327,692 
Total assets (2)
331,014 342,531 320,484 320,224 330,607 329,164 322,924 330,958 341,119 
Total deposits287,491 298,335 276,534 276,825 286,399 285,023 279,999 287,678 297,373 
Allocated capital (1)
18,500 18,500 19,750 19,750 19,750 18,500 18,500 18,500 18,500 
Period end
Total loans and leases$231,981 $219,657 $252,986 $241,142 $234,304 $231,981 $227,318 $224,837 $219,844 
Total earning assets (2)
323,496 330,653 310,732 305,793 315,663 323,496 314,594 310,055 329,515 
Total assets (2)
338,367 344,626 325,605 320,820 329,816 338,367 328,831 324,476 343,718 
Total deposits292,278 299,657 278,931 275,778 285,063 292,278 283,432 281,283 298,039 
(1)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.
(2)Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.




16

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
Net interest income $13,235 $14,645 $3,141 $3,081 $3,151 $3,270 $3,230 $3,275 $3,460 
Noninterest income:
Service charges3,135 2,952 863 864 826 808 802 775 750 
Investment banking fees3,453 2,819 1,155 767 847 985 783 835 850 
All other income3,925 4,139 1,030 977 1,168 1,033 840 1,085 967 
Total noninterest income10,513 9,910 3,048 2,608 2,841 2,826 2,425 2,695 2,567 
Total revenue, net of interest expense 23,748 24,555 6,189 5,689 5,992 6,096 5,655 5,970 6,027 
Provision for credit losses883 (586)269 277 154 190 229 235 229 
Noninterest expense11,853 11,344 3,044 3,070 3,184 2,951 2,991 2,899 3,012 
Income before income taxes 11,012 13,797 2,876 2,342 2,654 2,955 2,435 2,836 2,786 
Income tax expense 3,028 3,725 791 644 730 812 670 780 766 
Net income$7,984 $10,072 $2,085 $1,698 $1,924 $2,143 $1,765 $2,056 $2,020 
Net interest yield 2.29 %2.73 %1.87 %1.94 %2.10 %2.12 %2.21 %2.36 %2.49 %
Efficiency ratio49.91 46.20 49.16 53.98 53.14 48.39 52.90 48.55 49.98 
Return on average allocated capital (1)
16 20 16 13 15 17 14 17 17 
Balance Sheet
Average
Total loans and leases$373,227 $378,762 $388,482 $387,864 $378,733 $375,345 $371,216 $372,738 $373,608 
Total earning assets (2)
577,481 536,961 665,143 638,259 608,793 613,204 580,859 557,684 557,749 
Total assets (2)
643,337 603,093 730,206 703,326 673,883 678,826 647,109 623,993 622,990 
Total deposits545,769 505,627 631,560 603,410 575,185 581,950 549,629 525,357 525,699 
Allocated capital (1)
49,250 49,250 50,750 50,750 50,750 49,250 49,250 49,250 49,250 
Period end
Total loans and leases$379,473 $373,891 $386,828 $390,691 $384,208 $379,473 $375,159 $372,421 $373,403 
Total earning assets (2)
605,499 554,257 671,971 673,069 622,078 605,499 585,788 552,407 556,115 
Total assets (2)
670,505 621,682 737,640 739,214 687,169 670,505 650,558 619,798 623,023 
Total deposits578,159 527,060 640,801 643,529 591,619 578,159 556,953 522,525 527,113 
(1)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.
(2)Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity.




17

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
 Quarter
2024		First
Quarter
2024
 20242023
Net interest income$3,375 $1,678 $1,484 $1,267 $1,189 $1,026 $898 $770 $681 
Noninterest income:
Investment and brokerage services2,128 1,993 614 642 627 555 562 516 495 
Investment banking fees2,655 1,874 834 666 681 639 589 719 708 
Market making and similar activities12,778 13,430 3,141 3,300 3,622 2,381 3,349 3,218 3,830 
All other income876 558 152 107 466 237 232 237 170 
Total noninterest income18,437 17,855 4,741 4,715 5,396 3,812 4,732 4,690 5,203 
Total revenue, net of interest expense (1)
21,812 19,533 6,225 5,982 6,585 4,838 5,630 5,460 5,884 
Provision for credit losses(32)(131)9 22 28 10 7 (13)(36)
Noninterest expense13,926 13,206 3,895 3,806 3,811 3,505 3,443 3,486 3,492 
Income before income taxes7,918 6,458 2,321 2,154 2,746 1,323 2,180 1,987 2,428 
Income tax expense2,296 1,776 673 625 796 384 632 576 704 
Net income$5,622 $4,682 $1,648 $1,529 $1,950 $939 $1,548 $1,411 $1,724 
Efficiency ratio63.85 %67.61 %62.58 %63.61 %57.88 %72.43 %61.17 %63.81 %59.38 %
Return on average allocated capital (2)
12 10 13 13 16 8 14 13 15 
Balance Sheet
Average
Total trading-related assets$634,020 $618,028 $676,621 $700,413 $668,237 $620,903 $645,607 $639,763 $629,826 
Total loans and leases140,557 129,657 190,994 176,368 159,625 152,426 140,806 135,106 133,756 
Total earning assets710,604 652,352 813,197 825,835 767,592 714,762 728,186 706,383 692,851 
Total assets911,657 869,699 1,024,300 1,022,955 969,282 918,582 924,041 908,469 895,323 
Total deposits34,120 33,278 37,588 38,040 38,809 36,958 34,952 31,944 32,585 
Allocated capital (2)
45,500 45,500 49,000 49,000 49,000 45,500 45,500 45,500 45,500 
Period end
Total trading-related assets$580,557 $542,544 $638,176 $670,649 $660,267 $580,557 $653,798 $619,122 $629,082 
Total loans and leases157,450 136,223 196,759 187,357 166,348 157,450 148,447 138,441 135,267 
Total earning assets687,678 637,955 793,246 806,289 761,826 687,678 742,221 701,978 698,279 
Total assets 876,548 817,531 997,908 1,017,594 959,477 876,548 958,172 887,108 902,686 
Total deposits38,848 34,833 36,883 38,232 38,268 38,848 35,142 33,151 34,847 
Trading-related assets (average)
Trading account securities$324,065 $318,443 $361,610 $343,971 $346,590 $326,572 $325,236 $321,204 $323,210 
Reverse repurchases137,052 133,735 138,908 169,064 143,605 123,473 150,751 139,901 134,081 
Securities borrowed135,108 121,547 135,615 146,889 136,800 132,334 133,588 139,705 134,852 
Derivative assets37,795 44,303 40,488 40,489 41,242 38,524 36,032 38,953 37,683 
Total trading-related assets$634,020 $618,028 $676,621 $700,413 $668,237 $620,903 $645,607 $639,763 $629,826 
(1)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.
(2)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

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
Net interest income$22 $339 $(26)$(21)$(22)$(21)$(1)$6 $38 
Noninterest income (loss)(3,472)(4,227)(672)(812)(672)(932)(1,104)(751)(685)
Total revenue, net of interest expense(3,450)(3,888)(698)(833)(694)(953)(1,105)(745)(647)
Provision for credit losses(21)(53)4 (9)(8)(5)(3)(2)(11)
Noninterest expense1,688 4,043 201 147 290 262 171 261 994 
Loss before income taxes(5,117)(7,878)(903)(971)(976)(1,210)(1,273)(1,004)(1,630)
Income tax expense (benefit)(3,462)(3,889)(800)(948)(924)(942)(923)(719)(878)
Net income (loss)$(1,655)$(3,989)$(103)$(23)$(52)$(268)$(350)$(285)$(752)
Balance Sheet
Average
Total loans and leases$8,606 $9,644 $7,739 $7,702 $8,016 $8,390 $8,570 $8,598 $8,872 
Total assets (2)
369,727 265,285 328,928 349,999 345,919 365,618 380,741 379,759 352,714 
Total deposits111,177 57,551 98,338 103,500 110,389 111,717 117,804 115,766 99,339 
Period end
Total loans and leases$8,177 $8,842 $7,422 $6,958 $7,428 $8,177 $8,779 $8,285 $8,917 
Total assets (3)
341,509 346,846 309,170 325,763 317,940 341,509 360,063 392,554 343,975 
Total deposits103,871 92,705 96,493 99,701 102,550 103,871 110,467 121,059 107,736 
(1)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.
(2)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.
(3)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.




19

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

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.
 Year Ended December 31Third
Quarter
2025		Second
Quarter
2025		First
Quarter
2025		Fourth
Quarter
2024		Third
Quarter
2024		Second
Quarter
2024		First
Quarter
2024
 20242023
Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes$33,223 $32,530 $10,408 $8,668 $8,997 $8,236 $8,192 $8,488 $8,307 
Provision for credit losses5,821 4,394 1,295 1,592 1,480 1,452 1,542 1,508 1,319 
Pretax, pre-provision income$39,044 $36,924 $11,703 $10,260 $10,477 $9,688 $9,734 $9,996 $9,626 
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity$292,467 $281,861 $300,381 $295,329 $294,187 $293,398 $293,431 $291,943 $291,074 
Goodwill(69,021)(69,022)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)
Intangible assets (excluding mortgage servicing
  rights)		(1,961)(2,039)(1,873)(1,893)(1,912)(1,932)(1,951)(1,971)(1,990)
Related deferred tax liabilities866 893 839 846 851 859 864 869 874 
Tangible shareholders’ equity$222,351 $211,693 $230,326 $225,261 $224,105 $223,304 $223,323 $221,820 $220,937 
Preferred stock(26,487)(28,397)(25,232)(22,573)(22,307)(23,493)(25,984)(28,113)(28,397)
Tangible common shareholders’ equity$195,864 $183,296 $205,094 $202,688 $201,798 $199,811 $197,339 $193,707 $192,540 
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity$293,963 $290,209 $302,437 $298,021 $293,949 $293,963 $294,774 $292,340 $292,094 
Goodwill(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)
Intangible assets (excluding mortgage servicing
  rights)		(1,919)(1,997)(1,860)(1,880)(1,899)(1,919)(1,938)(1,958)(1,977)
Related deferred tax liabilities851 874 828 842 846 851 859 864 869 
Tangible shareholders’ equity$223,874 $220,065 $232,384 $227,962 $223,875 $223,874 $224,674 $222,225 $221,965 
Preferred stock(23,159)(28,397)(25,992)(23,495)(20,499)(23,159)(24,554)(26,548)(28,397)
Tangible common shareholders’ equity$200,715 $191,668 $206,392 $204,467 $203,376 $200,715 $200,120 $195,677 $193,568 
Reconciliation of period-end assets to period-end
  tangible assets
Assets$3,261,299 $3,180,515 $3,403,149 $3,440,798 $3,349,039 $3,261,299 $3,323,917 $3,257,896 $3,273,884 
Goodwill(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)(69,021)
Intangible assets (excluding mortgage servicing
  rights)		(1,919)(1,997)(1,860)(1,880)(1,899)(1,919)(1,938)(1,958)(1,977)
Related deferred tax liabilities851 874 828 842 846 851 859 864 869 
Tangible assets$3,191,210 $3,110,371 $3,333,096 $3,370,739 $3,278,965 $3,191,210 $3,253,817 $3,187,781 $3,203,755 
Book value per share of common stock
Common shareholders’ equity$270,804 $261,812 $276,445 $274,526 $273,450 $270,804 $270,220 $265,792 $263,697 
Ending common shares issued and outstanding7,610.9 7,895.5 7,329.4 7,436.7 7,560.1 7,610.9 7,688.8 7,774.8 7,866.9 
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
Tangible common shareholders’ equity$200,715 $191,668 $206,392 $204,467 $203,376 $200,715 $200,120 $195,677 $193,568 
Ending common shares issued and outstanding7,610.9 7,895.5 7,329.4 7,436.7 7,560.1 7,610.9 7,688.8 7,774.8 7,866.9 
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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