Financial Analysis

Commitments and Contingencies In the normal course of business, the Corporation enters into a number of off-balance sheet commitments. These commitments expose the Corporation to varying degrees of credit and market risk and are subject to the same credit and market risk limitation reviews as those instruments recorded on the Consolidated Balance Sheet. Credit Extension Commitments The Corporation enters into commitments to extend credit such as loan commitments, SBLCs and commercial letters of credit to meet the financing needs of its customers. The following table includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (i.e., syndicated or participated) to other financial institutions. The distributed amounts were $10.6 billion and $10.4 billion at December 31, 2025 and 2024. The carrying value of the Corporations credit extension commitments at December 31, 2025 and 2024, excluding commitments accounted for under the fair value option, was $1.2 billion and $1.1 billion, which predominantly related to the reserve for unfunded lending commitments. The carrying value of these commitments is classified in accrued expenses and other liabilities on the Consolidated Balance Sheet. Legally binding commitments to extend credit generally have specified rates and maturities. Certain of these commitments have adverse change clauses that help to protect the Corporation against deterioration in the borrowers ability to pay. The following t …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

The table below presents the Corporations net interest income and noninterest income disaggregated by revenue source for 2025, 2024 and 2023. For more information, see Note 1 Summary of Significant Accounting Principles . For a disaggregation of noninterest income by business segment and All Othe r, see Note 23 Business Segment Information . (Dollars in millions) 2025 2024 2023 Net interest income Interest income Loans and leases $ 63,080 $ 61,993 $ 57,124 Debt securities 27,393 26,007 20,226 Federal funds sold and securities borrowed or purchased under agreements to resell 15,433 19,911 18,679 Trading account assets 12,239 10,376 8,773 Other interest income (1) 20,421 28,320 25,460 Total interest income 138,566 146,607 130,262 Interest expense Deposits 34,513 38,442 26,163 Short-term borrowings 28,042 34,538 30,553 Trading account liabilities 2,657 2,191 2,043 Long-term debt 13,258 15,376 14,572 Total interest expense 78,470 90,547 73,331 Net interest income $ 60,096 $ 56,060 $ 56,931 Noninterest income Fees and commissions Card income Interchange fees (2) $ 3,876 $ 4,013 $ 3,983 Other card income 2,483 2,271 2,071 Total card income 6,359 6,284 6,054 Service charges Deposit-related fees 5,044 4,708 4,382 Lending-related fees 1,413 1,347 1,302 Total service charges 6,457 6,055 5,684 Investment and brokerage services Asset management fees 15,601 13,875 12,002 Brokerage fees 4,355 3,891 3,561 Total investment and brokerage services 19,956 17,766 15,563 Investment banking fees U …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Stock-based Compensation Plans The Corporation administers a number of equity compensation plans, with awards being granted predominantly from the Bank of America Corporation Equity Plan (BACEP). Under this plan, 990 million shares of the Corporations common stock are authorized to be used for grants of awards. During 2025 and 2024, the Corporation granted 107 million and 121 million RSUs to certain employees under the BACEP. These RSUs were authorized to settle predominantly in shares of common stock of the Corporation. Certain RSUs will be settled in cash or contain settlement provisions that subject these awards to variable accounting whereby compensation expense is adjusted to fair value based on changes in the share price of the Corporations common stock up to the settlement date. The RSUs granted in 2025 and 2024 predominantly vest over four years in one-fourth increments on each of the first four anniversaries of the grant date, provided that the employee remains continuously employed with the Corporation during that time, and will be expensed ratably over the vesting period, net of estimated forfeitures, for non-retirement eligible employees based on the grant-date fair value of the shares. Of the RSUs granted in 2025 and 2024, 38 million and 42 million do not include retirement eligibility. For all other RSUs granted to employees who are retirement eligible, they are deemed authorized as of the beginning of the year preceding the grant date when the incentive award p …

DisclosureOfCompensationRelatedCostsShareBasedPaymentsTextBlock · excerpt; the full note is in the filing

Fair Value Measurements Under applicable accounting standards, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Corporation determines the fair values of its financial instruments under applicable accounting standards that require an entity to maximize the use of observable inputs and minimize the use of unobservable inputs. The Corporation categorizes its financial instruments into three levels based on the established fair value hierarchy and conducts a review of fair value hierarchy classifications on a quarterly basis. Transfers into or out of a particular level of hierarchy occur when there is a change in the observability or unobservability of the inputs that are significant to the valuation. For more information regarding the fair value hierarchy and how the Corporation measures fair value, see Note 1 Summary of Significant Accounting Principles. The Corporation accounts for certain financial instruments under the fair value option. For more information, see Note 21 Fair Value Option . Valuation Techniques The following sections outline the valuation methodologies for the Corporations assets and liabilities. While the Corporation believes its valuation methods are appropriate and consistent with other market participants, the use of differ …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Goodwill and Intangible Assets Goodwill The table below presents goodwill balances by business segment at December 31, 2025 and 2024. The reporting units utilized for goodwill impairment testing are the operating segments or one level below. Goodwill December 31 (Dollars in millions) 2025 2024 Consumer Banking $ 30,137 $ 30,137 Global Wealth & Investment Management 9,677 9,677 Global Banking 24,026 24,026 Global Markets 5,181 5,181 Total goodwill $ 69,021 $ 69,021 D uring 2025, the Corporation completed its annual goodwill impairment test as of June 30, 2025 by using a quantitative assessment for the Consumer Banking reporting unit and a qualitative assessment for the remaining six reporting units. Based on the assessments, the Corporation concluded that none of its reporting units are at risk of impairment, as each of the reporting units fair values are substantially in excess of their carrying values. For more information regarding the nature of and accounting for the Corporations annual goodwill impairment testing, see Note 1 Summary of Significant Accounting Principles . Intangible Assets At December 31, 2025 and 2024, the net carrying value of intangible assets was $1.8 billion and $2.0 billion. At December 31, 2025 and 2024, intangible assets included $1.5 billion and $1.6 billion of intangible assets associated with trade names, substantially all of which had an indefinite life and, accordingly, are not being amortized. Amortization of intangibles expense was $78 m …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Income Taxes The Corporation pays taxes in U.S. and Non-U.S. jurisdictions based on income. The table below presents income before income tax expense disaggregated by U.S. and Non-U.S. jurisdictions for 2025, 2024 and 2023. Income Before Income Tax Expense December 31 (Dollars in millions) 2025 2024 2023 U.S. $ 28,813 $ 24,251 $ 23,978 Non-U.S. (1) 8,882 8,972 8,552 Income before income tax expense $ 37,695 $ 33,223 $ 32,530 (1) Income is related to the tax jurisdiction of the legal entitys principal place of business. The components of income tax expense for 2025, 2024 and 2023 are presented in the table below. Income Tax Expense (Dollars in millions) 2025 2024 2023 Current income tax expense U.S. federal $ 4,202 $ 4,709 $ 4,760 U.S. state and local 442 603 559 Non-U.S. 2,247 2,065 1,918 Total current expense 6,891 7,377 7,237 Deferred income tax expense (benefit) U.S. federal (114) (1,679) (1,233) U.S. state and local 239 153 (62) Non-U.S. 170 399 283 Total deferred expense (benefit) 295 (1,127) (1,012) Total income tax expense $ 7,186 $ 6,250 $ 6,225 Total income tax expense does not reflect the tax effects of items that are included in OCI each period. For more information, see Note 14 Accumulated Other Comprehensive Income (Loss)) . Other tax effects included in OCI each period resulted in an expense of $1.0 billion, $1.5 billion and $892 million in 2025, 2024 and 2023, respectively. Income tax expense for 2025, 2024 and 2023 varied from the amount computed by applying t …

IncomeTaxDisclosureTextBlock · excerpt; the full note is in the filing

Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 Summary of Significant Accounting Principles and on lease financing receivables, see Note 5 Outstanding Loans and Leases and Allowance for Credit Losses. Lessor Arrangements The Corporations lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The table below presents the net investment in sales-type and direct financing leases at December 31, 2025 and 2024. Net Investment (1) December 31 (Dollars in millions) 2025 2024 Lease receivables $ 19,198 $ 18,559 Unguaranteed residuals 3,520 2,543 Total net investment in sales-type and direct financing leases $ 22,718 $ 21,102 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $9.4 billion and $8.0 billion at December 31, 2025 and 2024. The table below presents lease income for 2025 , 2024 and 2023. Lease Income (Dollars in millions) 2025 2024 2023 Sales-type and direct financing leases $ 1,245 $ 1,082 $ 788 Operating leases 942 931 945 Total lease income $ 2,187 $ 2,013 $ 1,733 Lessee Arrangements The Corporation's lessee arrangements predomin …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Long-term Debt Long-term debt consists of borrowings having an original maturity of one year or more. The table below presents the balance of long-term debt at December 31, 2025 and 2024, and the related contractual rates and maturity dates as of December 31, 2025. Weighted-average Rate December 31 (Dollars in millions) Interest Rates Maturity Dates 2025 2024 Notes issued by Bank of America Corporation (1) Senior notes: Fixed 3.65 % 0.42 - 8.05 % 2026 - 2052 $ 176,097 $ 171,603 Floating 3.47 0.10 - 8.85 2027 - 2075 11,471 8,736 Senior structured notes 20,369 17,498 Subordinated notes: Fixed 5.46 2.94 - 8.13 2026 - 2045 20,802 23,539 Floating 3.38 2.48 - 4.74 2026 - 2037 4,626 4,549 Junior subordinated notes: Fixed 6.71 6.45 - 8.05 2027 - 2066 750 749 Floating 5.65 5.65 2056 1 1 Total notes issued by Bank of America Corporation 234,116 226,675 Notes issued by Bank of America, N.A. Senior notes: Fixed 4.79 3.82 - 5.82 2026 - 2028 5,695 5,611 Floating 4.25 4.07 - 5.59 2026 - 2028 11,177 5,851 Subordinated notes 6.00 6.00 2036 1,403 1,401 Advances from Federal Home Loan Banks: Fixed 4.79 0.01 - 7.42 2026 - 2034 54 1,015 Floating 3.92 3.83 - 3.98 2026 4,121 400 Securitizations and other BANA VIEs (2) 6,442 8,048 Other 600 495 Total notes issued by Bank of America, N.A. 29,492 22,821 Other debt Structured liabilities (3) 53,803 33,374 Nonbank VIEs (2) 405 409 Total notes issued by nonbank and other entities 54,208 33,783 Total long-term debt $ 317,816 $ 283,279 (1) Includes total l …

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Employee Benefit Plans Pension and Postretirement Plans The Corporation sponsors a qualified noncontributory trusteed pension plan (Qualified Pension Plan), a number of noncontributory nonqualified pension plans and postretirement health and life plans that cover eligible employees. Non-U.S. pension plans sponsored by the Corporation vary based on the country and local practices. The Qualified Pension Plan has a balance guarantee feature for account balances with participant-selected investments, applied at the time a benefit payment is made from the plan that effectively provides principal protection for participant balances transferred and certain compensation credits. The Corporation is responsible for funding any shortfall on the guarantee feature. Benefits earned under the Qualified Pension Plan have been frozen. Thereafter, the cash balance accounts continue to earn investment credits or interest credits in accordance with the terms of the plan document. The Corporation has an annuity contract that guarantees the payment of benefits vested under a terminated U.S. pension plan (Other Pension Plan). The Corporation, under a supplemental agreement, may be responsible for or benefit from actual experience and investment performance of the annuity assets. The Corporation made no contribution under this agreement in 2025 or 2024. Contributions may be required in the future under this agreement. The Corporations noncontributory, nonqualified pension plans are unfunded and prov …

PensionAndOtherPostretirementBenefitsDisclosureTextBlock · excerpt; the full note is in the filing

Net Interest Income and Noninterest Income The table below presents the Corporations net interest income and noninterest income disaggregated by revenue source for 2025, 2024 and 2023. For more information, see Note 1 Summary of Significant Accounting Principles . For a disaggregation of noninterest income by business segment and All Othe r, see Note 23 Business Segment Information . (Dollars in millions) 2025 2024 2023 Net interest income Interest income Loans and leases $ 63,080 $ 61,993 $ 57,124 Debt securities 27,393 26,007 20,226 Federal funds sold and securities borrowed or purchased under agreements to resell 15,433 19,911 18,679 Trading account assets 12,239 10,376 8,773 Other interest income (1) 20,421 28,320 25,460 Total interest income 138,566 146,607 130,262 Interest expense Deposits 34,513 38,442 26,163 Short-term borrowings 28,042 34,538 30,553 Trading account liabilities 2,657 2,191 2,043 Long-term debt 13,258 15,376 14,572 Total interest expense 78,470 90,547 73,331 Net interest income $ 60,096 $ 56,060 $ 56,931 Noninterest income Fees and commissions Card income Interchange fees (2) $ 3,876 $ 4,013 $ 3,983 Other card income 2,483 2,271 2,071 Total card income 6,359 6,284 6,054 Service charges Deposit-related fees 5,044 4,708 4,382 Lending-related fees 1,413 1,347 1,302 Total service charges 6,457 6,055 5,684 Investment and brokerage services Asset management fees 15,601 13,875 12,002 Brokerage fees 4,355 3,891 3,561 Total investment and brokerage services 19, …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Business Segment Information The Corporation reports its results of operations through the following four business segments: Consumer Banking , GWIM, Global Banking and Global Markets , with the remaining operations recorded in All Other . The segments are managed by the Corporations Management Team, with certain leaders responsible for each segment and/or the lines of business supporting the segments. On a continual basis, the Management Team assesses the performance of the segments by comparing the segments budgeted income and expenses to their actual results. The Chief Operating Decision Maker of the segments, which is the Corporations CEO, is the final approver on the amount of capital to allocate to each segment. Consumer Banking Consumer Banking offers a diversified range of credit, banking and investment products and services to consumers and small businesses. Consumer Banking product offerings include traditional savings accounts, money market savings accounts, CDs and IRAs, checking accounts, and investment accounts and products, as well as credit and debit cards, residential mortgages and home equity loans, and direct and indirect loans to consumers and small businesses in the U.S. Consumer Banking includes the impact of servicing residential mortgages and home equity loans. Global Wealth & Investment Management GWIM provides a high-touch client experience through a network of financial advisors focused on clients with over $250,000 in total investable assets, i …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Principles Bank of America Corporation, a bank holding company and a financial holding company, provides a diverse range of financial services and products throughout the U.S. and in certain international markets. The term the Corporation as used herein may refer to Bank of America Corporation, individually, Bank of America Corporation and its subsidiaries, or certain of Bank of America Corporations subsidiaries or affiliates. Principles of Consolidation and Basis of Presentation The Consolidated Financial Statements include the accounts of the Corporation and its majority-owned subsidiaries and those variable interest entities (VIEs) where the Corporation is the primary beneficiary. Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition, and for VIEs, from the dates that the Corporation became the primary beneficiary. Assets held in an agency or fiduciary capacity are not included in the Consolidated Financial Statements. The preparation of the Consolidated Financial Statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect reported amounts and disclosures. Actual results could materially differ from those estimates and assumptions. Change in Accounting Policy Effective in the fourth quarter of 2025, the Corporation has elected to change its …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders Equity Common Stock Declared Quarterly Cash Dividends on Common Stock (1) Declaration Date Record Date Payment Date Dividend Per Share February 3, 2026 March 6, 2026 March 27, 2026 $ 0.28 October 23, 2025 December 5, 2025 December 26,2025 0.28 July 23, 2025 September 5, 2025 September 26, 2025 0.28 April 23, 2025 June 6, 2025 June 27, 2025 0.26 January 29, 2025 March 7, 2025 March 28, 2025 0.26 (1) In 2025, and through February 25, 2026. The cash dividends paid per share of common stock were $1.08, $1.00 and $0.92 for 2025, 2024 and 2023, respectively. The table below summarizes common stock repurchases during 2025, 2024 and 2023. Common Stock Repurchase Summary (in millions) 2025 2024 2023 Total share repurchases, including CCAR capital plan repurchases 452 332 147 Purchase price of shares repurchased and retired (1) $ 21,433 $ 13,104 $ 4,576 (1) Consists of repurchases pursuant to the Corporations CCAR capital plans and includes excise taxes. During 2025, in connection with employee stock plans, the Corporation issued 86 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 33 million shares of common stock. At December 31, 2025, the Corporation had reserved 586 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock. Preferred Stock The cash dividends declared on preferred stock were $1.4 billion in 2025 and $1.6 billion in both 2024 and 2023. On April …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing

Commitments and Contingencies In the normal course of business, the Corporation enters into a number of off-balance sheet commitments. These commitments expose the Corporation to varying degrees of credit and market risk and are subject to the same credit and market risk limitation reviews as those instruments recorded on the Consolidated Balance Sheet. For more information on commitments and contingencies, see Note 12 Commitments and Contingencies to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K . Credit Extension Commitments The Corporation enters into commitments to extend credit such as loan commitments, standby letters of credit (SBLCs) and commercial letters of credit to meet the financing needs of its customers. The following table includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (i.e., syndicated or participated) to other financial institutions. The distributed amounts were $10.5 billion and $10.6 billion at June 30, 2026 and December 31, 2025. The carrying value of the Corporations credit extension commitments at both June 30, 2026 and December 31, 2025, excluding commitments accounted for under the fair value option, was $1.2 billion, which predominantly related to the reserve for unfunded lending commitments. The carrying value of these commitments is classified in accrued expenses and other liabilities on the Consolidated Balance Sheet. Legally binding commitments to …

CommitmentsAndContingenciesDisclosureTextBlock · excerpt; the full note is in the filing

The table below presents the Corporations net interest income and noninterest income disaggregated by revenue source for the three and six months ended June 30, 2026 and 2025. For more information, see Note 1 Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Othe r, see Note 17 Business Segment Information . Three Months Ended June 30 Six Months Ended June 30 (Dollars in millions) 2026 2025 2026 2025 Net interest income Interest income Loans and leases $ 15,863 $ 15,651 $ 31,346 $ 30,874 Debt securities 6,032 6,913 12,323 13,680 Federal funds sold and securities borrowed or purchased under agreements to resell 4,185 4,094 8,042 7,868 Trading account assets 3,063 3,057 6,261 6,065 Other interest income (1) 4,689 5,158 9,219 10,452 Total interest income 33,832 34,873 67,191 68,939 Interest expense Deposits 7,372 8,681 14,673 17,313 Short-term borrowings 6,607 7,435 13,117 14,398 Trading account liabilities 756 676 1,501 1,383 Long-term debt 3,100 3,411 6,158 6,732 Total interest expense 17,835 20,203 35,449 39,826 Net interest income $ 15,997 $ 14,670 $ 31,742 $ 29,113 Noninterest income Fees and commissions Card income Interchange fees (2) $ 947 $ 1,036 $ 1,812 $ 1,952 Other card income 636 610 1,264 1,212 Total card income 1,583 1,646 3,076 3,164 Service charges Deposit-related fees 1,336 1,265 2,642 2,493 Lending-rela …

DisaggregationOfRevenueTableTextBlock · excerpt; the full note is in the filing

Fair Value Measurements Under applicable accounting standards, fair value is defined as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Corporation determines the fair values of its financial instruments under applicable accounting standards and conducts a review of fair value hierarchy classifications on a quarterly basis. Transfers into or out of fair value hierarchy classifications are made if the significant inputs used in the financial models measuring the fair values of the assets and liabilities become unobservable or observable in the current marketplace. During the six months ended June 30, 2026, there were no changes to valuation approaches or techniques that had, or are expected to have, a material impact on the Corporations consolidated financial position or results of operations. For more information regarding the fair value hierarchy, how the Corporation measures fair value and valuation techniques, see Note 1 Summary of Significant Accounting Principles and Note 20 Fair Value Measurements to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. The Corporation accounts for certain financial instruments under the fair value option. For more information, see Note 15 Fair Value Option . Recurring Fair Value Assets and lia …

FairValueDisclosuresTextBlock · excerpt; the full note is in the filing

Goodwill and Intangible Assets Goodwill The table below presents goodwill balances by business segment at June 30, 2026 and December 31, 2025. The reporting units utilized for goodwill impairment testing are the operating segments or one level below. The Corporation completed its annual goodwill impairment test as of June 30, 2026 using a qualitative assessment and determined that it was not more likely than not that the fair value of any reporting unit was less than its carrying value. Accordingly, no reporting unit was considered at risk of impairment, and no further testing was required. For more information regarding the nature of and accounting for the Corporations annual goodwill impairment testing, see Note 1 Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. Goodwill (Dollars in millions) June 30 2026 December 31 2025 Consumer Banking $ 30,137 $ 30,137 Global Wealth & Investment Management 9,677 9,677 Global Banking 24,026 24,026 Global Markets 5,181 5,181 Total goodwill $ 69,021 $ 69,021 Intangible Assets At both June 30, 2026 and December 31, 2025, the net carrying value of intangible assets was $1.8 billion. At both June 30, 2026 and December 31, 2025, intangible assets included $1.5 billion of intangible assets associated with trade names, substantially all of which had an indefinite life and, accordingly, are not being amortized. Amortization of intangibles expense was $18 …

GoodwillAndIntangibleAssetsDisclosureTextBlock · excerpt; the full note is in the filing

Leases The Corporation enters into both lessor and lessee arrangements. For more information on lease accounting, see Note 1 Summary of Significant Accounting Principles and Note 8 Leases to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. For more information on lease financing receivables, see Note 5 Outstanding Loans and Leases and Allowance for Credit Losses. Lessor Arrangements The Corporations lessor arrangements primarily consist of operating, sales-type and direct financing leases for equipment. Lease agreements may include options to renew and for the lessee to purchase the leased equipment at the end of the lease term. The table below presents the net investment in sales-type and direct financing leases at June 30, 2026 and December 31, 2025. Net Investment (1) (Dollars in millions) June 30 2026 December 31 2025 Lease receivables $ 18,545 $ 19,198 Unguaranteed residuals 3,422 3,520 Total net investment in sales-type and direct financing leases $ 21,967 $ 22,718 (1) In certain cases, the Corporation obtains third-party residual value insurance to reduce its residual asset risk. The carrying value of residual assets with third-party residual value insurance for at least a portion of the asset value was $9.4 billion at both June 30, 2026 and December 31, 2025. The table below presents lease income for the three and six months ended June 30, 2026 and 2025. Lease Income Three Months Ended June 30 Six Months Ended June 30 (Dollars …

LesseeOperatingLeasesTextBlock · excerpt; the full note is in the filing

Net Interest Income and Noninterest Income The table below presents the Corporations net interest income and noninterest income disaggregated by revenue source for the three and six months ended June 30, 2026 and 2025. For more information, see Note 1 Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Othe r, see Note 17 Business Segment Information . Three Months Ended June 30 Six Months Ended June 30 (Dollars in millions) 2026 2025 2026 2025 Net interest income Interest income Loans and leases $ 15,863 $ 15,651 $ 31,346 $ 30,874 Debt securities 6,032 6,913 12,323 13,680 Federal funds sold and securities borrowed or purchased under agreements to resell 4,185 4,094 8,042 7,868 Trading account assets 3,063 3,057 6,261 6,065 Other interest income (1) 4,689 5,158 9,219 10,452 Total interest income 33,832 34,873 67,191 68,939 Interest expense Deposits 7,372 8,681 14,673 17,313 Short-term borrowings 6,607 7,435 13,117 14,398 Trading account liabilities 756 676 1,501 1,383 Long-term debt 3,100 3,411 6,158 6,732 Total interest expense 17,835 20,203 35,449 39,826 Net interest income $ 15,997 $ 14,670 $ 31,742 $ 29,113 Noninterest income Fees and commissions Card income Interchange fees (2) $ 947 $ 1,036 $ 1,812 $ 1,952 Other card income 636 610 1,264 1,212 Total card income 1,583 1,646 3,076 3,164 Service charges Deposit-relate …

RevenueFromContractWithCustomerTextBlock · excerpt; the full note is in the filing

Business Segment Information The Corporation reports its results of operations through the following four business segments: Consumer Banking , Global Wealth & Investment Management, Global Banking and Global Markets , with the remaining operations recorded in All Other . For more information, see Note 23 Business Segment Information to the Consolidated Financial Statements of the Corporations 2025 Annual Report on Form 10-K. The following tables presents net income (loss) and the components thereto (with net interest income on an FTE basis for the business segments, All Other and the total Corporation) for the three and six months ended June 30, 2026 and 2025, and total assets at June 30, 2026 and 2025 for each business segment, as well as All Other. Results of Business Segments and All Other (1) At and for the three months ended June 30 Total Corporation (2) Consumer Banking Global Wealth & Investment Management (Dollars in millions) 2026 2025 2026 2025 2026 2025 Net interest income $ 16,160 $ 14,815 $ 9,206 $ 8,726 $ 1,888 $ 1,762 Noninterest income 15,561 12,773 2,130 2,087 4,983 4,175 Total revenue, net of interest expense 31,721 27,588 11,336 10,813 6,871 5,937 Provision for credit losses 1,366 1,592 1,160 1,282 11 20 Noninterest expense Compensation and benefits (3) 10,987 10,332 1,553 1,514 3,269 2,966 Other noninterest expense 7,640 6,851 4,248 4,053 1,707 1,627 Total noninterest expense 18,627 17,183 5,801 5,567 4,976 4,593 Income before income taxes 11,728 …

SegmentReportingDisclosureTextBlock · excerpt; the full note is in the filing

Summary of Significant Accounting Principles Bank of America Corporation, a bank holding company and a financial holding company, provides a diverse range of financial services and products throughout the U.S. and in certain international markets. The term the Corporation as used herein may refer to Bank of America Corporation, individually, Bank of America Corporation and its subsidiaries, or certain of Bank of America Corporations subsidiaries or affiliates. Principles of Consolidation and Basis of Presentation The Consolidated Financial Statements include the accounts of the Corporation and its majority-owned subsidiaries and those variable interest entities (VIEs) where the Corporation is the primary beneficiary. Intercompany accounts and transactions have been eliminated. Results of operations of acquired companies are included from the dates of acquisition, and for VIEs, from the dates that the Corporation became the primary beneficiary. Assets held in an agency or fiduciary capacity are not included in the Consolidated Financial Statements. The Corporation accounts for investments in companies for which it owns a voting interest and for which it has the ability to exercise significant influence over operating and financing decisions using the equity method of accounting. These investments, which include the Corporations interests in affordable housing and renewable energy partnerships, are recorded in other assets. Equity method investments are subject to impairment te …

SignificantAccountingPoliciesTextBlock · excerpt; the full note is in the filing

Shareholders Equity Common Stock Declared Quarterly Cash Dividends on Common Stock (1) Declaration Date Record Date Payment Date Dividend Per Share July 23, 2026 September 4, 2026 September 25, 2026 $ 0.32 April 23, 2026 June 5, 2026 June 26, 2026 0.28 February 3, 2026 March 6, 2026 March 27, 2026 0.28 (1) In 2026, and through July 31, 2026. During the three and six months ended June 30, 2026, the Corporation repurchased and retired approximately 112 million and 252 million shares of common stock, which reduced shareholders equity by $6.0 billion and $13.2 billion, including excise taxes. During the six months ended June 30, 2026, in connection with employee stock plans, the Corporation issued 93 million shares of its common stock and, to satisfy tax withholding obligations, repurchased 35 million shares of common stock. At June 30, 2026, the Corporation had reserved 532 million unissued shares of common stock for future issuances under employee stock plans, convertible notes and preferred stock. On July 23, 2026, the Board of Directors declared a quarterly common stock dividend of $0.32 per share. Preferred Stock During the three months ended June 30, 2026 and March 31, 2026, the Corporation declared $326 million and $425 million of cash dividends on preferred stock, or a total of $751 million for the six months ended June 30, 2026. During the first quarter of 2026, the Corporation fully redeemed Series DD for $1.0 billion. For more information on the Corporations preferred …

StockholdersEquityNoteDisclosureTextBlock · excerpt; the full note is in the filing