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Supplemental Information
Second Quarter 2021

                










Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the Corporation’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at the Corporation’s website (www.bankofamerica.com). The Corporation’s future financial performance is subject to risks and uncertainties as described in its SEC filings.


Bank of America Corporation and Subsidiaries
Table of ContentsPage
 
Consumer Banking
Global Wealth & Investment Management
Global Banking
Global Markets
All Other
Key Performance Indicators
The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated and/or segment 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 and on the Key Indicators pages for each segment.
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 11 - 13 are reported on an FTE basis.



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Income statement
Net interest income$20,430 $22,978 $10,233 $10,197 $10,253 $10,129 $10,848 
Noninterest income23,857 22,115 11,233 12,624 9,846 10,207 11,478 
Total revenue, net of interest expense44,287 45,093 21,466 22,821 20,099 20,336 22,326 
Provision for credit losses(3,481)9,878 (1,621)(1,860)53 1,389 5,117 
Noninterest expense30,560 26,885 15,045 15,515 13,927 14,401 13,410 
Income before income taxes17,208 8,330 8,042 9,166 6,119 4,546 3,799 
Pretax, pre-provision income (1)
13,727 18,208 6,421 7,306 6,172 5,935 8,916 
Income tax expense(66)787 (1,182)1,116 649 (335)266 
Net income 17,274 7,543 9,224 8,050 5,470 4,881 3,533 
Preferred stock dividends750 718 260 490 262 441 249 
Net income applicable to common shareholders16,524 6,825 8,964 7,560 5,208 4,440 3,284 
Diluted earnings per common share1.90 0.77 1.03 0.86 0.59 0.51 0.37 
Average diluted common shares issued and outstanding8,776.2 8,813.3 8,735.5 8,755.6 8,785.0 8,777.5 8,768.1 
Dividends paid per common share$0.36 $0.36 $0.18 $0.18 $0.18 $0.18 $0.18 
Performance ratios
Return on average assets1.18 %0.58 %1.23 %1.13 %0.78 %0.71 %0.53 %
Return on average common shareholders’ equity13.31 5.67 14.33 12.28 8.39 7.24 5.44 
Return on average shareholders’ equity12.70 5.71 13.47 11.91 8.03 7.26 5.34 
Return on average tangible common shareholders’ equity (2)
18.51 7.97 19.90 17.08 11.73 10.16 7.63 
Return on average tangible shareholders’ equity (2)
17.07 7.76 18.11 16.01 10.84 9.84 7.23 
Efficiency ratio 69.00 59.62 70.09 67.98 69.29 70.81 60.06 
At period end
Book value per share of common stock$29.89 $27.96 $29.89 $29.07 $28.72 $28.33 $27.96 
Tangible book value per share of common stock (2)
21.61 19.90 21.61 20.90 20.60 20.23 19.90 
Market capitalization349,925 205,772 349,925 332,337 262,206 208,656 205,772 
Number of financial centers - U.S.4,296 4,298 4,296 4,324 4,312 4,309 4,298 
Number of branded ATMs - U.S.16,795 16,862 16,795 16,905 16,904 16,962 16,862 
Headcount211,608 212,796 211,608 212,201 212,505 211,225 212,796 
(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.
(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 33.)


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
2

Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
 Six Months Ended June 30Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income
Interest income$22,782 $28,638 $11,387 $11,395 $11,461 $11,486 $12,540 
Interest expense2,352 5,660 1,154 1,198 1,208 1,357 1,692 
Net interest income20,430 22,978 10,233 10,197 10,253 10,129 10,848 
Noninterest income
Fees and commissions19,241 16,713 9,705 9,536 9,061 8,777 8,392 
Market making and similar activities5,355 5,294 1,826 3,529 1,372 1,689 2,487 
Other income (loss)(739)108 (298)(441)(587)(259)599 
Total noninterest income23,857 22,115 11,233 12,624 9,846 10,207 11,478 
Total revenue, net of interest expense44,287 45,093 21,466 22,821 20,099 20,336 22,326 
Provision for credit losses(3,481)9,878 (1,621)(1,860)53 1,389 5,117 
Noninterest expense
Compensation and benefits18,389 16,335 8,653 9,736 8,190 8,200 7,994 
Occupancy and equipment3,589 3,504 1,759 1,830 1,839 1,798 1,802 
Information processing and communications2,873 2,474 1,448 1,425 1,415 1,333 1,265 
Product delivery and transaction related1,953 1,588 976 977 915 930 811 
Marketing1,181 930 810 371 463 308 492 
Professional fees829 756 426 403 488 450 381 
Other general operating1,746 1,298 973 773 617 1,382 665 
Total noninterest expense30,560 26,885 15,045 15,515 13,927 14,401 13,410 
Income before income taxes17,208 8,330 8,042 9,166 6,119 4,546 3,799 
Income tax expense(66)787 (1,182)1,116 649 (335)266 
Net income$17,274 $7,543 $9,224 $8,050 $5,470 $4,881 $3,533 
Preferred stock dividends750 718 260 490 262 441 249 
Net income applicable to common shareholders$16,524 $6,825 $8,964 $7,560 $5,208 $4,440 $3,284 
Per common share information
Earnings$1.91 $0.78 $1.04 $0.87 $0.60 $0.51 $0.38 
Diluted earnings1.90 0.77 1.03 0.86 0.59 0.51 0.37 
Average common shares issued and outstanding8,660.4 8,777.6 8,620.8 8,700.1 8,724.9 8,732.9 8,739.9 
Average diluted common shares issued and outstanding8,776.2 8,813.3 8,735.5 8,755.6 8,785.0 8,777.5 8,768.1 

Consolidated Statement of Comprehensive Income
(Dollars in millions)
Six Months Ended June 30Second Quarter 2021First Quarter 2021Fourth Quarter 2020Third Quarter 2020Second Quarter 2020
20212020
Net income $17,274 $7,543 $9,224 $8,050 $5,470 $4,881 $3,533 
Other comprehensive income (loss), net-of-tax:
Net change in debt securities(1,090)4,693 (250)(840)5 101 (102)
Net change in debit valuation adjustments265 53 149 116 (493)(58)(1,293)
Net change in derivatives(699)732 415 (1,114)18 76 315 
Employee benefit plan adjustments120 100 69 51 (242)44 57 
Net change in foreign currency translation adjustments(3)(107)26 (29)34 21 (19)
Other comprehensive income (loss)(1,407)5,471 409 (1,816)(678)184 (1,042)
Comprehensive income$15,867 $13,014 $9,633 $6,234 $4,792 $5,065 $2,491 


Certain prior-period amounts have been reclassified to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
3

Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions) 
 Six Months Ended June 30Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income
Interest income
Loans and leases$14,357 $18,532 $7,123 $7,234 $7,603 $7,894 $8,569 
Debt securities5,550 5,283 2,820 2,730 2,377 2,130 2,440 
Federal funds sold and securities borrowed or purchased under agreements to resell
(49)845 (42)(7)3 55 26 
Trading account assets1,826 2,255 954 872 925 948 1,008 
Other interest income1,098 1,723 532 566 553 459 497 
Total interest income22,782 28,638 11,387 11,395 11,461 11,486 12,540 
Interest expense
Deposits261 1,557 128 133 159 227 373 
Short-term borrowings(164)1,048 (85)(79)(37)(24)(72)
Trading account liabilities539 552 293 246 210 212 223 
Long-term debt1,716 2,503 818 898 876 942 1,168 
Total interest expense2,352 5,660 1,154 1,198 1,208 1,357 1,692 
Net interest income$20,430 $22,978 $10,233 $10,197 $10,253 $10,129 $10,848 
Noninterest income
Fees and commissions
Card income
Interchange fees (1)
$2,277 $1,622 $1,210 $1,067 $1,160 $1,172 $830 
Other card income744 899 376 368 407 396 419 
Total card income3,021 2,521 1,586 1,435 1,567 1,568 1,249 
Service charges
Deposit-related fees3,052 2,926 1,557 1,495 1,550 1,515 1,299 
Lending-related fees614 539 317 297 309 302 263 
Total service charges3,666 3,465 1,874 1,792 1,859 1,817 1,562 
Investment and brokerage services
Asset management fees6,158 5,165 3,156 3,002 2,803 2,740 2,483 
Brokerage fees2,028 2,015 967 1,061 968 883 939 
Total investment and brokerage services
8,186 7,180 4,123 4,063 3,771 3,623 3,422 
Investment banking fees
Underwriting income2,860 2,371 1,314 1,546 1,088 1,239 1,523 
Syndication fees701 501 401 300 227 133 230 
Financial advisory services807 675 407 400 549 397 406 
Total investment banking fees4,368 3,547 2,122 2,246 1,864 1,769 2,159 
Total fees and commissions19,241 16,713 9,705 9,536 9,061 8,777 8,392 
Market making and similar activities5,355 5,294 1,826 3,529 1,372 1,689 2,487 
Other income (loss)(739)108 (298)(441)(587)(259)599 
Total noninterest income$23,857 $22,115 $11,233 $12,624 $9,846 $10,207 $11,478 
(1)Gross interchange fees and merchant income were $5.4 billion and $4.3 billion and are presented net of $3.1 billion and $2.7 billion of expenses for rewards and partner payments as well as certain other card costs for the six months ended June 30, 2021 and 2020. Gross interchange fees and merchant income were $2.9 billion, $2.5 billion, $2.5 billion, $2.4 billion and $2.0 billion and are presented net of $1.7 billion, $1.4 billion, $1.5 billion, $1.4 billion and $1.2 billion of expenses for rewards and partner payments as well as certain other card costs for the second and first quarters of 2021 and the fourth, third and second quarters of 2020, respectively.
    

Certain prior-period amounts have been reclassified to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
4

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
June 30
2021		March 31
2021		June 30
2020
Assets
Cash and due from banks$30,327 $33,560 $33,915 
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks229,703 292,541 255,431 
Cash and cash equivalents260,030 326,101 289,346 
Time deposits placed and other short-term investments7,356 7,859 6,071 
Federal funds sold and securities borrowed or purchased under agreements to resell268,594 259,147 451,179 
Trading account assets291,733 276,881 226,465 
Derivative assets41,498 45,898 45,184 
Debt securities:  
Carried at fair value288,913 280,912 202,912 
Held-to-maturity, at cost651,401 576,000 268,949 
Total debt securities940,314 856,912 471,861 
Loans and leases918,928 903,088 998,944 
Allowance for loan and lease losses(14,095)(16,168)(19,389)
Loans and leases, net of allowance904,833 886,920 979,555 
Premises and equipment, net10,747 10,803 10,790 
Goodwill69,023 68,951 68,951 
Loans held-for-sale8,277 7,895 7,381 
Customer and other receivables67,967 66,404 55,392 
Other assets159,522 156,221 129,513 
Total assets$3,029,894 $2,969,992 $2,741,688 
Liabilities
Deposits in U.S. offices:
Noninterest-bearing$719,481 $703,822 $580,667 
Interest-bearing1,076,355 1,079,551 1,048,012 
Deposits in non-U.S. offices:
Noninterest-bearing25,190 22,423 15,082 
Interest-bearing88,116 79,142 74,905 
Total deposits1,909,142 1,884,938 1,718,666 
Federal funds purchased and securities loaned or sold under agreements to repurchase213,787 199,443 179,024 
Trading account liabilities110,084 102,788 80,912 
Derivative liabilities38,916 42,325 42,511 
Short-term borrowings21,635 21,724 17,998 
Accrued expenses and other liabilities184,607 193,563 175,302 
Long-term debt274,604 251,211 261,638 
Total liabilities2,752,775 2,695,992 2,476,051 
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,887,686, 3,923,686 and 3,887,440 shares
23,441 24,319 23,427 
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 8,487,151,465, 8,589,731,470 and 8,664,081,625 shares
79,242 83,071 85,794 
Retained earnings177,499 170,082 157,578 
Accumulated other comprehensive income (loss)(3,063)(3,472)(1,162)
Total shareholders’ equity277,119 274,000 265,637 
Total liabilities and shareholders’ equity$3,029,894 $2,969,992 $2,741,688 
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets$4,418 $4,530 $4,390 
Loans and leases16,970 19,346 25,532 
Allowance for loan and lease losses(1,047)(1,261)(1,869)
Loans and leases, net of allowance15,923 18,085 23,663 
All other assets1,134 1,387 563 
Total assets of consolidated variable interest entities$21,475 $24,002 $28,616 
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings$324 $338 $739 
Long-term debt5,137 5,286 6,861 
All other liabilities15 11 22 
Total liabilities of consolidated variable interest entities$5,476 $5,635 $7,622 


Certain prior-period amounts have been reclassified to conform to current-period presentation.



Current-period information is preliminary and based on company data available at the time of the presentation.
5

Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
June 30
2021		March 31
2021		June 30
2020
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital$178,818 $177,789 $171,020 
Tier 1 capital202,245 201,224 194,441 
Total capital234,484 236,000 233,764 
Risk-weighted assets1,552,869 1,508,057 1,475,133 
Common equity tier 1 capital ratio11.5 %11.8 %11.6 %
Tier 1 capital ratio13.0 13.3 13.2 
Total capital ratio15.1 15.6 15.8 
Advanced Approaches
Common equity tier 1 capital$178,818 $177,789 $171,020 
Tier 1 capital202,245 201,224 194,441 
Total capital227,740 227,693 223,225 
Risk-weighted assets1,380,382 1,365,368 1,503,565 
Common equity tier 1 capital ratio13.0 %13.0 %11.4 %
Tier 1 capital ratio14.7 14.7 12.9 
Total capital ratio16.5 16.7 14.8 
Leverage-based metrics (1):
Adjusted average assets$2,938,476 $2,805,021 $2,632,225 
Tier 1 leverage ratio6.9 %7.2 %7.4 %
Supplementary leverage exposure$3,443,870 $2,868,314 $2,756,799 
Supplementary leverage ratio5.9 %7.0 %7.1 %
Tangible equity ratio (2)
7.0 7.0 7.3 
Tangible common equity ratio (2)
6.2 6.2 6.5 
(1)Regulatory capital ratios at June 30, 2021 are preliminary. We report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy. Supplementary leverage exposure at March 31, 2021 and June 30, 2020 excludes U.S. Treasury securities and deposits at Federal Reserve Banks.
(2)Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets 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. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 33.)


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
6

Bank of America Corporation and Subsidiaries
Capital Composition under Basel 3
(Dollars in millions)
June 30
2021		March 31
2021		June 30
2020
Total common shareholders' equity$253,678 $249,681 $242,210 
CECL transitional amount (1)
2,994 3,544 4,302 
Goodwill, net of related deferred tax liabilities(68,638)(68,565)(68,570)
Deferred tax assets arising from net operating loss and tax credit carryforwards(7,641)(5,904)(5,263)
Intangibles, other than mortgage servicing rights, net of related deferred tax liabilities(1,662)(1,604)(1,221)
Defined benefit pension plan net assets(1,196)(1,181)(1,025)
Cumulative unrealized net (gain) loss related to changes in fair value of financial liabilities attributable to own creditworthiness, net-of-tax1,499 1,625 1,108 
Other(216)193 (521)
Common equity tier 1 capital178,818 177,789 171,020 
Qualifying preferred stock, net of issuance cost23,440 23,440 23,426 
Other(13)(5)(5)
Tier 1 capital202,245 201,224 194,441 
Tier 2 capital instruments20,669 21,137 23,424 
Qualifying allowance for credit losses11,993 13,642 15,917 
Other(423)(3)(18)
Total capital under the Standardized approach234,484 236,000 233,764 
Adjustment in qualifying allowance for credit losses under the Advanced approaches (2)
(6,744)(8,307)(10,539)
Total capital under the Advanced approaches$227,740 $227,693 $223,225 
(1)Includes the impact of the Corporation's adoption of the current expected credit losses (CECL) accounting standard on January 1, 2020 and 25 percent of the increase in reserves since the initial adoption.
(2)Includes the impact of transition provisions related to the CECL accounting standard.



Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
7

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
 Second Quarter 2021First Quarter 2021Second Quarter 2020
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
$247,673 $27 0.04 %$278,098 $29 0.04 %$314,661 $33 0.04 %
Time deposits placed and other short-term investments8,079 — 0.02 8,742 4 0.18 8,644 5 0.25 
Federal funds sold and securities borrowed or purchased under agreements to resell
270,443 (42)(0.06)249,985 (7)(0.01)312,404 26 0.03 
Trading account assets152,307 967 2.55 145,089 885 2.47 143,370 1,021 2.86 
Debt securities895,902 2,834 1.27 788,638 2,745 1.41 476,060 2,462 2.10 
Loans and leases (2)
   
Residential mortgage 214,096 1,498 2.80 219,005 1,529 2.80 241,486 1,880 3.11 
Home equity31,621 267 3.39 33,634 281 3.38 39,308 308 3.15 
Credit card73,399 1,876 10.25 74,165 1,947 10.65 86,191 2,140 9.99 
Direct/Indirect and other consumer94,321 561 2.38 91,430 559 2.48 88,962 623 2.81 
Total consumer413,437 4,202 4.07 418,234 4,316 4.17 455,947 4,951 4.36 
U.S. commercial322,633 2,049 2.55 322,010 2,051 2.58 374,965 2,526 2.71 
Non-U.S. commercial96,343 429 1.78 90,904 409 1.83 116,040 578 2.00 
Commercial real estate59,276 371 2.51 59,736 365 2.48 65,515 430 2.64 
Commercial lease financing16,211 108 2.67 16,839 132 3.15 18,920 128 2.71 
Total commercial494,463 2,957 2.40 489,489 2,957 2.45 575,440 3,662 2.56 
Total loans and leases 907,900 7,159 3.16 907,723 7,273 3.24 1,031,387 8,613 3.35 
Other earning assets96,364 552 2.30 103,650 577 2.26 72,256 508 2.82 
Total earning assets2,578,668 11,497 1.79 2,481,925 11,506 1.87 2,358,782 12,668 2.16 
Cash and due from banks31,675 33,925  31,256 
Other assets, less allowance for loan and lease losses
404,770 363,371   314,148 
Total assets$3,015,113 $2,879,221   $2,704,186 
Interest-bearing liabilities
U.S. interest-bearing deposits
Savings$72,798 $1 0.01 %$67,588 $2 0.01 %$56,931 $2 0.01 %
Demand and money market deposit accounts915,420 78 0.03 889,793 77 0.04 850,274 152 0.07 
Consumer CDs and IRAs36,181 16 0.17 38,207 26 0.28 50,882 123 0.97 
Negotiable CDs, public funds and other deposits
53,537 23 0.17 52,780 23 0.18 81,532 56 0.29 
Total U.S. interest-bearing deposits1,077,936 118 0.04 1,048,368 128 0.05 1,039,619 333 0.13 
Non-U.S. interest-bearing deposits   
Banks located in non-U.S. countries1,191 — — 1,030 — 0.12 1,807 — 0.04 
Governments and official institutions204 — — 199 — — 183 — — 
Time, savings and other80,747 10 0.05 80,737 5 0.02 74,158 40 0.21 
Total non-U.S. interest-bearing deposits82,142 10 0.05 81,966 5 0.02 76,148 40 0.21 
Total interest-bearing deposits1,160,078 128 0.04 1,130,334 133 0.05 1,115,767 373 0.13 
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities
320,314 (85)(0.11)293,236 (79)(0.11)295,465 (72)(0.10)
Trading account liabilities58,823 293 2.01 42,923 246 2.32 40,717 223 2.20 
Long-term debt232,034 818 1.42 220,836 898 1.65 221,167 1,168 2.12 
Total interest-bearing liabilities1,771,249 1,154 0.26 1,687,329 1,198 0.29 1,673,116 1,692 0.41 
Noninterest-bearing sources   
Noninterest-bearing deposits728,756 675,413   542,430 
Other liabilities (3)
240,476 242,432   222,324 
Shareholders’ equity274,632 274,047   266,316 
Total liabilities and shareholders’ equity$3,015,113 $2,879,221   $2,704,186 
Net interest spread1.53 %  1.58 %1.75 %
Impact of noninterest-bearing sources0.08   0.10 0.12 
Net interest income/yield on earning assets (4)
$10,343 1.61 % $10,308 1.68 %$10,976 1.87 %
(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)Includes $30.5 billion, $31.3 billion and $35.5 billion of structured notes and liabilities for the second and first quarters of 2021 and the second quarter of 2020, respectively.
(4)Net interest income includes FTE adjustments of $110 million, $111 million and $128 million for the second and first quarters of 2021 and the second quarter of 2020, respectively.


Certain prior-period amounts have been reclassified to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
8

Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
 June 30, 2021
 Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses 		Fair
Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency$56,258 $1,696 $(65)$57,889 
Agency-collateralized mortgage obligations4,111 123 (8)4,226 
Commercial18,062 882 (25)18,919 
Non-agency residential829 33 (10)852 
Total mortgage-backed securities79,260 2,734 (108)81,886 
U.S. Treasury and agency securities158,691 1,906 (264)160,333 
Non-U.S. securities17,165 4 (2)17,167 
Other taxable securities, substantially all asset-backed securities2,873 46 2 2,921 
Total taxable securities257,989 4,690 (372)262,307 
Tax-exempt securities15,529 347 (2)15,874 
Total available-for-sale debt securities273,518 5,037 (374)278,181 
Other debt securities carried at fair value (1)
10,713 113 (94)10,732 
Total debt securities carried at fair value284,231 5,150 (468)288,913 
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities651,434 6,613 (8,022)650,025 
Total debt securities$935,665 $11,763 $(8,490)$938,938 
 March 31, 2021
Available-for-sale debt securities
Mortgage-backed securities:   
Agency$52,395 $2,169 $(30)$54,534 
Agency-collateralized mortgage obligations4,618 132 (17)4,733 
Commercial16,013 840 (53)16,800 
Non-agency residential871 30 (43)858 
Total mortgage-backed securities73,897 3,171 (143)76,925 
U.S. Treasury and agency securities158,352 2,161 (492)160,021 
Non-U.S. securities14,767 7 (6)14,768 
Other taxable securities, substantially all asset-backed securities2,519 43 (4)2,558 
Total taxable securities249,535 5,382 (645)254,272 
Tax-exempt securities16,023 328 (10)16,341 
Total available-for-sale debt securities265,558 5,710 (655)270,613 
Other debt securities carried at fair value (1)
10,322 143 (166)10,299 
Total debt securities carried at fair value275,880 5,853 (821)280,912 
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities576,031 6,895 (13,668)569,258 
Total debt securities$851,911 $12,748 $(14,489)$850,170 
(1)    Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements.


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
9

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
FTE basis data (1)
Net interest income$20,651 $23,250 $10,343 $10,308 $10,366 $10,243 $10,976 
Total revenue, net of interest expense 44,508 45,365 21,576 22,932 20,212 20,450 22,454 
Net interest yield1.64 %2.09 %1.61 %1.68 %1.71 %1.72 %1.87 %
Efficiency ratio 68.66 59.26 69.73 67.65 68.90 70.42 59.72 
(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 a more accurate picture of 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 $221 million and $272 million for the six months ended June 30, 2021 and 2020, $110 million and $111 million for the second and first quarters of 2021, and $113 million, $114 million and $128 million for the fourth, third and second quarters of 2020, respectively.


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
10

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
 Second Quarter 2021
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$10,343 $5,973 $1,354 $1,984 $991 $41 
Noninterest income
Fees and commissions:
Card income1,586 1,312 21 180 74 (1)
Service charges1,874 851 18 900 103 2 
Investment and brokerage services4,123 78 3,537 40 473 (5)
Investment banking fees2,122 — 88 1,173 959 (98)
Total fees and commissions9,705 2,241 3,664 2,293 1,609 (102)
Market making and similar activities1,826 — 11 28 1,964 (177)
Other income (loss)
(298)(28)36 784 156 (1,246)
Total noninterest income (loss)11,233 2,213 3,711 3,105 3,729 (1,525)
Total revenue, net of interest expense 21,576 8,186 5,065 5,089 4,720 (1,484)
Provision for credit losses(1,621)(697)(62)(831)22 (53)
Noninterest expense15,045 4,859 3,814 2,599 3,471 302 
Income (loss) before income taxes8,152 4,024 1,313 3,321 1,227 (1,733)
Income tax expense (benefit)(1,072)986 322 897 319 (3,596)
Net income $9,224 $3,038 $991 $2,424 $908 $1,863 
Average
Total loans and leases$907,900 $281,767 $193,988 $325,110 $87,826 $19,209 
Total assets (1)
3,015,113 1,054,516 380,315 595,498 797,558 187,226 
Total deposits1,888,834 979,072 333,487 506,618 55,584 14,073 
Quarter end
Total loans and leases$918,928 $282,900 $198,361 $323,256 $96,105 $18,306 
Total assets (1)
3,029,894 1,063,650 378,220 607,969 773,714 206,341 
Total deposits1,909,142 987,655 330,624 520,026 57,297 13,540 
 First Quarter 2021
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$10,308 $5,920 $1,331 $1,980 $990 $87 
Noninterest income
Fees and commissions:
Card income1,435 1,189 19 150 76 1 
Service charges1,792 831 18 847 94 2 
Investment and brokerage services4,063 77 3,391 41 560 (6)
Investment banking fees2,246 — 135 1,172 981 (42)
Total fees and commissions9,536 2,097 3,563 2,210 1,711 (45)
Market making and similar activities3,529 — 11 31 3,470 17 
Other income (loss)(441)52 66 412 27 (998)
Total noninterest income (loss)12,624 2,149 3,640 2,653 5,208 (1,026)
Total revenue, net of interest expense22,932 8,069 4,971 4,633 6,198 (939)
Provision for credit losses(1,860)(617)(65)(1,126)(5)(47)
Noninterest expense15,515 5,131 3,868 2,781 3,427 308 
Income (loss) before income taxes9,277 3,555 1,168 2,978 2,776 (1,200)
Income tax expense (benefit)1,227 871 286 804 722 (1,456)
Net income$8,050 $2,684 $882 $2,174 $2,054 $256 
Average
Total loans and leases$907,723 $290,891 $188,495 $330,107 $77,415 $20,815 
Total assets (1)
2,879,221 999,769 372,594 576,145 723,264 207,449 
Total deposits1,805,747 924,137 326,370 487,034 53,852 14,354 
Quarter end
Total loans and leases$903,088 $282,935 $190,060 $325,996 $84,247 $19,850 
Total assets (1)
2,969,992 1,047,413 378,655 594,235 745,681 204,008 
Total deposits1,884,938 971,709 333,254 506,012 61,450 12,513 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).



Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
11

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
 Second Quarter 2020
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$10,976 $5,991 $1,378 $2,363 $1,297 $(53)
Noninterest income
Fees and commissions:
Card income1,249 1,053 18 68 111 (1)
Service charges1,562 706 14 738 95 9 
Investment and brokerage services3,422 66 2,854 23 480 (1)
Investment banking fees2,159 — 84 1,181 939 (45)
Total fees and commissions8,392 1,825 2,970 2,010 1,625 (38)
Market making and similar activities2,487 1 18 (15)2,360 123 
Other income (loss)599 35 59 733 68 (296)
Total noninterest income (loss)11,478 1,861 3,047 2,728 4,053 (211)
Total revenue, net of interest expense22,454 7,852 4,425 5,091 5,350 (264)
Provision for credit losses5,117 3,024 136 1,873 105 (21)
Noninterest expense13,410 4,735 3,464 2,222 2,684 305 
Income (loss) before income taxes3,927 93 825 996 2,561 (548)
Income tax expense (benefit)394 23 202 269 666 (766)
Net income$3,533 $70 $623 $727 $1,895 $218 
Average
Total loans and leases$1,031,387 $321,558 $182,150 $423,625 $74,131 $29,923 
Total assets (1)
2,704,186 885,568 327,594 578,106 663,072 249,846 
Total deposits1,658,197 810,700 287,109 493,918 45,083 21,387 
Quarter end
Total loans and leases$998,944 $325,105 $184,293 $390,108 $74,342 $25,096 
Total assets (1)
2,741,688 929,193 334,190 586,078 652,068 240,159 
Total deposits1,718,666 854,017 291,740 500,918 52,842 19,149 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
12

Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions) 
 Six Months Ended June 30, 2021
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$20,651 $11,893 $2,685 $3,964 $1,981 $128 
Noninterest income
Fees and commissions:
Card income3,021 2,501 40 330 150 — 
Service charges3,666 1,682 36 1,747 197 4 
Investment and brokerage services8,186 155 6,928 81 1,033 (11)
Investment banking fees4,368 — 223 2,345 1,940 (140)
Total fees and commissions19,241 4,338 7,227 4,503 3,320 (147)
Market making and similar activities5,355 — 22 59 5,434 (160)
Other income (loss)(739)24 102 1,196 183 (2,244)
Total noninterest income (loss)23,857 4,362 7,351 5,758 8,937 (2,551)
Total revenue, net of interest expense44,508 16,255 10,036 9,722 10,918 (2,423)
Provision for credit losses(3,481)(1,314)(127)(1,957)17 (100)
Noninterest expense30,560 9,990 7,682 5,380 6,898 610 
Income (loss) before income taxes17,429 7,579 2,481 6,299 4,003 (2,933)
Income tax expense (benefit)155 1,857 608 1,701 1,041 (5,052)
Net income$17,274 $5,722 $1,873 $4,598 $2,962 $2,119 
Average
Total loans and leases$907,812 $286,304 $191,257 $327,595 $82,649 $20,007 
Total assets (1)
2,947,542 1,027,294 376,476 585,875 760,616 197,281 
Total deposits1,847,520 951,757 329,948 496,880 54,723 14,212 
Period end
Total loans and leases $918,928 $282,900 $198,361 $323,256 $96,105 $18,306 
Total assets (1)
3,029,894 1,063,650 378,220 607,969 773,714 206,341 
Total deposits1,909,142 987,655 330,624 520,026 57,297 13,540 
 Six Months Ended June 30, 2020
 Total
Corporation		Consumer BankingGWIMGlobal BankingGlobal MarketsAll
Other
Net interest income$23,250 $12,853 $2,949 $4,975 $2,449 $24 
Noninterest income
Fees and commissions:
Card income2,521 2,163 35 191 132 — 
Service charges3,465 1,701 32 1,533 182 17 
Investment and brokerage services7,180 137 5,976 31 1,048 (12)
Investment banking fees3,547 — 199 1,942 1,542 (136)
Total fees and commissions16,713 4,001 6,242 3,697 2,904 (131)
Market making and similar activities5,294 2 39 72 5,334 (153)
Other income (loss)108 124 131 947 (112)(982)
Total noninterest income (loss)22,115 4,127 6,412 4,716 8,126 (1,266)
Total revenue, net of interest expense45,365 16,980 9,361 9,691 10,575 (1,242)
Provision for credit losses9,878 5,282 325 3,966 212 93 
Noninterest expense26,885 9,230 7,064 4,540 5,498 553 
Income (loss) before income taxes8,602 2,468 1,972 1,185 4,865 (1,888)
Income tax expense (benefit)1,059 605 483 320 1,265 (1,614)
Net income (loss)$7,543 $1,863 $1,489 $865 $3,600 $(274)
Average
Total loans and leases$1,010,835 $319,252 $180,395 $405,054 $72,896 $33,238 
Total assets (1)
2,599,557 848,422 315,383 522,016 688,062 225,674 
Total deposits1,548,766 773,685 275,260 438,145 39,203 22,473 
Period end
Total loans and leases$998,944 $325,105 $184,293 $390,108 $74,342 $25,096 
Total assets (1)
2,741,688 929,193 334,190 586,078 652,068 240,159 
Total deposits1,718,666 854,017 291,740 500,918 52,842 19,149 
(1)Total assets include asset allocations to match liabilities (i.e., deposits).



Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
13

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
20212020
Net interest income$11,893 $12,853 $5,973 $5,920 $5,955 $5,890 $5,991 
Noninterest income:
Card income2,501 2,163 1,312 1,189 1,289 1,220 1,053 
Service charges1,682 1,701 851 831 879 837 706 
All other income179 263 50 129 119 92 102 
Total noninterest income4,362 4,127 2,213 2,149 2,287 2,149 1,861 
Total revenue, net of interest expense16,255 16,980 8,186 8,069 8,242 8,039 7,852 
Provision for credit losses(1,314)5,282 (697)(617)4 479 3,024 
Noninterest expense9,990 9,230 4,859 5,131 4,809 4,842 4,735 
Income before income taxes7,579 2,468 4,024 3,555 3,429 2,718 93 
Income tax expense1,857 605 986 871 840 666 23 
Net income$5,722 $1,863 $3,038 $2,684 $2,589 $2,052 $70 
Net interest yield2.44 %3.19 %2.37 %2.51 %2.58 %2.61 %2.85 %
Return on average allocated capital (1)
30 10 32 28 27 21 1 
Efficiency ratio61.46 54.36 59.36 63.59 58.34 60.24 60.31 
Balance Sheet
Average
Total loans and leases$286,304 $319,252 $281,767 $290,891 $305,146 $318,751 $321,558 
Total earning assets (2)
984,891 809,436 1,012,364 957,112 918,086 896,867 845,236 
Total assets (2)
1,027,294 848,422 1,054,516 999,769 960,376 936,112 885,568 
Total deposits951,757 773,685 979,072 924,137 885,210 860,999 810,700 
Allocated capital (1)
38,500 38,500 38,500 38,500 38,500 38,500 38,500 
Period end
Total loans and leases$282,900 $325,105 $282,900 $282,935 $299,934 $312,447 $325,105 
Total earning assets (2)
1,022,092 890,244 1,022,092 1,004,896 945,343 906,994 890,244 
Total assets (2)
1,063,650 929,193 1,063,650 1,047,413 988,580 947,513 929,193 
Total deposits987,655 854,017 987,655 971,709 912,652 872,022 854,017 
(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.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
14

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
20212020
Average deposit balances
Checking$532,815 $420,562 $550,009 $515,430 $492,332 $479,963 $446,445 
Savings68,418 52,482 70,945 65,863 62,070 59,817 55,607 
MMS312,203 255,361 320,594 303,719 289,682 277,896 263,703 
CDs and IRAs34,603 42,499 33,728 35,488 37,674 40,163 42,256 
Other3,718 2,781 3,796 3,637 3,452 3,160 2,689 
Total average deposit balances$951,757 $773,685 $979,072 $924,137 $885,210 $860,999 $810,700 
Deposit spreads (excludes noninterest costs)
Checking1.98 %2.18 %1.97 %1.99 %2.02 %2.07 %2.14 %
Savings2.27 2.42 2.26 2.28 2.31 2.35 2.39 
MMS1.31 1.92 1.29 1.32 1.52 1.59 1.68 
CDs and IRAs0.45 1.11 0.41 0.48 0.58 0.72 0.93 
Other0.29 1.58 0.27 0.31 0.34 0.60 1.28 
Total deposit spreads1.72 2.05 1.71 1.73 1.81 1.87 1.94 
Consumer investment assets$345,809 $246,146 $345,809 $324,479 $306,104 $266,733 $246,146 
Active digital banking users (units in thousands) (1)
40,512 39,294 40,512 40,286 39,315 39,267 39,294 
Active mobile banking users (units in thousands)31,796 30,307 31,796 31,487 30,783 30,601 30,307 
Financial centers4,296 4,298 4,296 4,324 4,312 4,309 4,298 
ATMs16,795 16,862 16,795 16,905 16,904 16,962 16,862 
Total credit card (2)
Loans
Average credit card outstandings$73,780 $90,331 $73,399 $74,165 $78,210 $81,309 $86,191 
Ending credit card outstandings75,599 84,244 75,599 72,786 78,708 79,834 84,244 
Credit quality
Net charge-offs$1,122 $1,435 $488 $634 $405 $509 $665 
3.07 %3.19 %2.67 %3.47 %2.06 %2.49 %3.10 %
30+ delinquency$976 $1,420 $976 $1,317 $1,689 $1,270 $1,420 
1.29 %1.69 %1.29 %1.81 %2.15 %1.59 %1.69 %
90+ delinquency$533 $782 $533 $755 $903 $545 $782 
0.71 %0.93 %0.71 %1.04 %1.15 %0.68 %0.93 %
Other total credit card indicators (2)
Gross interest yield10.31 %10.23 %10.10 %10.52 %10.49 %10.16 %9.95 %
Risk-adjusted margin9.53 8.20 9.76 9.29 10.84 9.66 8.49 
New accounts (in thousands)1,605 1,504 931 674 514 487 449 
Purchase volumes$142,975 $118,073 $78,384 $64,591 $69,466 $64,060 $53,694 
Debit card data
Purchase volumes$229,812 $178,219 $121,905 $107,907 $104,280 $102,004 $89,631 
Loan production (3)
Consumer Banking:
First mortgage$20,684 $27,930 $11,502 $9,182 $7,969 $7,298 $15,049 
Home equity1,317 5,817 907 410 375 738 3,176 
Total (4):
First mortgage$35,499 $42,062 $20,266 $15,233 $13,664 $13,360 $23,124 
Home equity1,669 6,707 1,166 503 469 984 3,683 
(1)    Digital active users represents mobile and/or online 90 day active users.
(2)    In addition to the credit card portfolio in Consumer Banking, the remaining credit card portfolio is in GWIM.
(3)    Loan production amounts represent the unpaid principal balance of loans and, in the case of home equity, the principal amount of the total line of credit.
(4)    In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
15

Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
Second Quarter 2021First Quarter 2021
Total Consumer BankingDepositsConsumer
Lending		Total Consumer BankingDepositsConsumer
Lending
Net interest income$5,973 $3,480 $2,493 $5,920 $3,278 $2,642 
Noninterest income:
Card income1,312 (7)1,319 1,189 (5)1,194 
Service charges851 851 — 831 830 1 
All other income 50 21 29 129 73 56 
Total noninterest income2,213 865 1,348 2,149 898 1,251 
Total revenue, net of interest expense8,186 4,345 3,841 8,069 4,176 3,893 
Provision for credit losses(697)47 (744)(617)74 (691)
Noninterest expense4,859 2,856 2,003 5,131 3,209 1,922 
Income before income taxes4,024 1,442 2,582 3,555 893 2,662 
Income tax expense986 353 633 871 219 652 
Net income $3,038 $1,089 $1,949 $2,684 $674 $2,010 
Net interest yield2.37 %1.44 %3.60 %2.51 %1.46 %3.74 %
Return on average allocated capital (1)
32 36 30 28 23 31 
Efficiency ratio59.36 65.73 52.16 63.59 76.87 49.34 
Balance Sheet
Average
Total loans and leases$281,767 $4,447 $277,320 $290,891 $4,607 $286,284 
Total earning assets (2)
1,012,364 968,491 277,742 957,112 912,135 286,720 
Total assets (2)
1,054,516 1,005,237 283,148 999,769 950,803 290,709 
Total deposits979,072 972,016 7,056 924,137 917,319 6,818 
Allocated capital (1)
38,500 12,000 26,500 38,500 12,000 26,500 
Period end
Total loans and leases$282,900 $4,410 $278,490 $282,935 $4,490 $278,445 
Total earning assets (2)
1,022,092 978,402 278,850 1,004,896 960,132 278,984 
Total assets (2)
1,063,650 1,013,887 284,923 1,047,413 997,601 284,032 
Total deposits987,655 980,486 7,169 971,709 964,406 7,303 
Second Quarter 2020
Total Consumer BankingDepositsConsumer
Lending
Net interest income$5,991 $3,299 $2,692 
Noninterest income:
Card income1,053 (4)1,057 
Service charges706 706 — 
All other income102 62 40 
Total noninterest income1,861 764 1,097 
Total revenue, net of interest expense7,852 4,063 3,789 
Provision for credit losses3,024 154 2,870 
Noninterest expense4,735 2,869 1,866 
Income (loss) before income taxes93 1,040 (947)
Income tax expense (benefit)23 255 (232)
Net income (loss)$70 $785 $(715)
Net interest yield2.85 %1.66 %3.42 %
Return on average allocated capital (1)
1 26 (11)
Efficiency ratio60.31 70.62 49.25 
Balance Sheet
Average
Total loans and leases$321,558 $5,314 $316,244 
Total earning assets (2)
845,236 801,391 316,622 
Total assets (2)
885,568 837,367 320,978 
Total deposits810,700 804,418 6,282 
Allocated capital (1)
38,500 12,000 26,500 
Period end
Total loans and leases$325,105 $5,146 $319,959 
Total earning assets (2)
890,244 843,132 320,461 
Total assets (2)
929,193 879,641 322,900 
Total deposits854,017 846,622 7,395 
(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)    For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments’ and businesses’ liabilities and allocated shareholders’ equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.
Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
16


Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
Six Months Ended June 30
20212020
Total Consumer BankingDepositsConsumer
Lending		Total Consumer BankingDepositsConsumer
Lending
Net interest income$11,893 $6,758 $5,135 $12,853 $7,247 $5,606 
Noninterest income:
Card income2,501 (12)2,513 2,163 (12)2,175 
Service charges1,682 1,681 1 1,701 1,700 1 
All other income179 94 85 263 159 104 
Total noninterest income4,362 1,763 2,599 4,127 1,847 2,280 
Total revenue, net of interest expense16,255 8,521 7,734 16,980 9,094 7,886 
Provision for credit losses(1,314)121 (1,435)5,282 269 5,013 
Noninterest expense9,990 6,065 3,925 9,230 5,593 3,637 
Income (loss) before income taxes7,579 2,335 5,244 2,468 3,232 (764)
Income tax expense (benefit)1,857 572 1,285 605 792 (187)
Net income (loss)$5,722 $1,763 $3,959 $1,863 $2,440 $(577)
Net interest yield2.44 %1.45 %3.67 %3.19 %1.90 %3.59 %
Return on average allocated capital (1)
30 30 30 10 41 (4)
Efficiency ratio61.46 71.19 50.74 54.36 61.50 46.12 
Balance Sheet
Average
Total loans and leases$286,304 $4,527 $281,777 $319,252 $5,374 $313,878 
Total earning assets (2)
984,891 940,469 282,206 809,436 766,660 314,375 
Total assets (2)
1,027,294 978,170 286,908 848,422 800,742 319,279 
Total deposits951,757 944,819 6,938 773,685 767,848 5,837 
Allocated capital (1)
38,500 12,000 26,500 38,500 12,000 26,500 
Period end
Total loans and leases$282,900 $4,410 $278,490 $325,105 $5,146 $319,959 
Total earning assets (2)
1,022,092 978,402 278,850 890,244 843,132 320,461 
Total assets (2)
1,063,650 1,013,887 284,923 929,193 879,641 322,900 
Total deposits987,655 980,486 7,169 854,017 846,622 7,395 
For footnotes, see page 16.

Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
17


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income $2,685 $2,949 $1,354 $1,331 $1,282 $1,237 $1,378 
Noninterest income:
Investment and brokerage services6,928 5,976 3,537 3,391 3,189 3,105 2,854 
All other income423 436 174 249 206 204 193 
Total noninterest income7,351 6,412 3,711 3,640 3,395 3,309 3,047 
Total revenue, net of interest expense 10,036 9,361 5,065 4,971 4,677 4,546 4,425 
Provision for credit losses(127)325 (62)(65)8 24 136 
Noninterest expense7,682 7,064 3,814 3,868 3,564 3,533 3,464 
Income before income taxes 2,481 1,972 1,313 1,168 1,105 989 825 
Income tax expense 608 483 322 286 271 242 202 
Net income$1,873 $1,489 $991 $882 $834 $747 $623 
Net interest yield 1.49 %1.96 %1.48 %1.50 %1.52 %1.53 %1.76 %
Return on average allocated capital (1)
23 20 24 22 22 20 17 
Efficiency ratio76.54 75.46 75.29 77.81 76.19 77.70 78.26 
Balance Sheet
Average
Total loans and leases$191,257 $180,395 $193,988 $188,495 $187,167 $185,587 $182,150 
Total earning assets (2)
363,960 303,089 367,778 360,099 336,165 321,410 315,258 
Total assets (2)
376,476 315,383 380,315 372,594 348,693 333,794 327,594 
Total deposits329,948 275,260 333,487 326,370 305,870 291,845 287,109 
Allocated capital (1)
16,500 15,000 16,500 16,500 15,000 15,000 15,000 
Period end
Total loans and leases$198,361 $184,293 $198,361 $190,060 $188,562 $187,211 $184,293 
Total earning assets (2)
365,496 321,846 365,496 365,854 356,873 324,889 321,846 
Total assets (2)
378,220 334,190 378,220 378,655 369,736 337,576 334,190 
Total deposits330,624 291,740 330,624 333,254 322,157 295,893 291,740 
(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.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
18

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Revenue by Business
Merrill Lynch Global Wealth Management$8,445 $7,698 $4,260 $4,185 $3,846 $3,748 $3,625 
Bank of America Private Bank1,591 1,663 805 786 831 798 800 
Total revenue, net of interest expense $10,036 $9,361 $5,065 $4,971 $4,677 $4,546 $4,425 
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management$3,073,252 $2,449,305 $3,073,252 $2,922,770 $2,808,340 $2,570,252 $2,449,305 
Bank of America Private Bank579,562 478,521 579,562 557,569 541,464 496,369 478,521 
Total client balances$3,652,814 $2,927,826 $3,652,814 $3,480,339 $3,349,804 $3,066,621 $2,927,826 
Client Balances by Type, at period end
Assets under management (1)
$1,549,069 $1,219,748 $1,549,069 $1,467,487 $1,408,465 $1,286,145 $1,219,748 
Brokerage and other assets1,619,246 1,282,044 1,619,246 1,535,424 1,479,614 1,344,538 1,282,044 
Deposits330,624 291,740 330,624 333,254 322,157 295,893 291,740 
Loans and leases (2)
201,154 187,004 201,154 192,725 191,124 189,952 187,004 
Less: Managed deposits in assets under management(47,279)(52,710)(47,279)(48,551)(51,556)(49,907)(52,710)
Total client balances$3,652,814 $2,927,826 $3,652,814 $3,480,339 $3,349,804 $3,066,621 $2,927,826 
Assets Under Management Rollforward
Assets under management, beginning balance$1,408,465 $1,275,555 $1,467,487 $1,408,465 $1,286,145 $1,219,748 $1,092,482 
Net client flows29,922 10,608 11,714 18,208 7,603 1,385 3,573 
Market valuation/other110,682 (66,415)69,868 40,814 114,717 65,012 123,693 
Total assets under management, ending balance$1,549,069 $1,219,748 $1,549,069 $1,467,487 $1,408,465 $1,286,145 $1,219,748 
Advisors, at period end
Total wealth advisors (3)
19,385 20,622 19,385 19,808 20,103 20,487 20,622 
(1)Defined as managed assets under advisory and/or discretion of GWIM.
(2)Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.
(3)Includes advisors across all wealth management businesses in GWIM and Consumer Banking.



Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
19

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income $3,964 $4,975 $1,984 $1,980 $2,010 $2,028 $2,363 
Noninterest income:
Service charges1,747 1,533 900 847 859 846 738 
Investment banking fees2,345 1,942 1,173 1,172 1,098 970 1,181 
All other income1,666 1,241 1,032 634 812 673 809 
Total noninterest income5,758 4,716 3,105 2,653 2,769 2,489 2,728 
Total revenue, net of interest expense 9,722 9,691 5,089 4,633 4,779 4,517 5,091 
Provision for credit losses(1,957)3,966 (831)(1,126)48 883 1,873 
Noninterest expense5,380 4,540 2,599 2,781 2,432 2,364 2,222 
Income before income taxes 6,299 1,185 3,321 2,978 2,299 1,270 996 
Income tax expense 1,701 320 897 804 621 343 269 
Net income$4,598 $865 $2,424 $2,174 $1,678 $927 $727 
Net interest yield 1.52 %2.15 %1.49 %1.56 %1.57 %1.61 %1.82 %
Return on average allocated capital (1)
22 4 23 21 16 9 7 
Efficiency ratio 55.34 46.86 51.07 60.03 50.88 52.34 43.65 
Balance Sheet
Average
Total loans and leases$327,595 $405,054 $325,110 $330,107 $346,323 $373,118 $423,625 
Total earning assets (2)
525,332 465,491 534,680 515,880 509,759 501,572 521,930 
Total assets (2)
585,875 522,016 595,498 576,145 566,845 557,889 578,106 
Total deposits496,880 438,145 506,618 487,034 478,269 471,288 493,918 
Allocated capital (1)
42,500 42,500 42,500 42,500 42,500 42,500 42,500 
Period end
Total loans and leases$323,256 $390,108 $323,256 $325,996 $339,649 $356,919 $390,108 
Total earning assets (2)
547,278 531,649 547,278 533,852 522,650 496,825 531,649 
Total assets (2)
607,969 586,078 607,969 594,235 580,561 553,776 586,078 
Total deposits520,026 500,918 520,026 506,012 493,748 465,399 500,918 
(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.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
20

Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Investment Banking fees (1)
Advisory (2)
$733 $592 $376 $357 $510 $356 $345 
Debt issuance905 927 482 423 308 320 503 
Equity issuance707 423 315 392 280 294 333 
Total Investment Banking fees (3)
$2,345 $1,942 $1,173 $1,172 $1,098 $970 $1,181 
Business Lending
Corporate$1,643 $1,867 $989 $654 $894 $791 $916 
Commercial1,765 1,862 867 898 928 953 881 
Business Banking111 148 56 55 54 59 66 
Total Business Lending revenue$3,519 $3,877 $1,912 $1,607 $1,876 $1,803 $1,863 
Global Transaction Services
Corporate$1,424 $1,656 $734 $690 $672 $658 $785 
Commercial1,515 1,687 771 744 737 745 809 
Business Banking426 473 215 211 211 209 217 
Total Global Transaction Services revenue$3,365 $3,816 $1,720 $1,645 $1,620 $1,612 $1,811 
Average deposit balances
Interest-bearing$163,785 $224,630 $162,947 $164,633 $169,637 $190,417 $242,408 
Noninterest-bearing333,095 213,515 343,671 322,401 308,632 280,871 251,510 
Total average deposits$496,880 $438,145 $506,618 $487,034 $478,269 $471,288 $493,918 
Loan spread1.59 %1.38 %1.57 %1.60 %1.58 %1.52 %1.37 %
Provision for credit losses$(1,957)$3,966 $(831)$(1,126)$48 $883 $1,873 
Credit quality (4, 5)
Reservable criticized utilized exposure$25,158 $22,900 $25,158 $29,954 $34,001 $30,803 $22,900 
7.33 %5.62 %7.33 %8.66 %9.45 %8.18 %5.62 %
Nonperforming loans, leases and foreclosed properties$1,651 $2,035 $1,651 $1,812 $1,979 $1,935 $2,035 
0.52 %0.53 %0.52 %0.56 %0.59 %0.55 %0.53 %
Average loans and leases by product
U.S. commercial$190,661 $236,808 $188,716 $192,628 $200,670 $218,063 $252,649 
Non-U.S. commercial70,620 94,634 70,666 70,573 76,634 83,950 96,742 
Commercial real estate49,410 53,974 49,139 49,685 51,254 52,607 54,938 
Commercial lease financing16,902 19,637 16,588 17,221 17,765 18,498 19,293 
Other2 1 1 — — — 3 
Total average loans and leases$327,595 $405,054 $325,110 $330,107 $346,323 $373,118 $423,625 
Total Corporation Investment Banking fees
Advisory (2)
$807 $675 $407 $400 $549 $397 $406 
Debt issuance2,098 1,985 1,110 988 718 740 1,058 
Equity issuance1,602 1,023 702 900 641 664 740 
Total investment banking fees including self-led deals
4,507 3,683 2,219 2,288 1,908 1,801 2,204 
Self-led deals(139)(136)(97)(42)(44)(32)(45)
Total Investment Banking fees$4,368 $3,547 $2,122 $2,246 $1,864 $1,769 $2,159 
(1)Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.
(2)Advisory includes fees on debt and equity advisory and mergers and acquisitions.
(3)Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.
(4)Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial reservable utilized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.
(5)Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
21


Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income$1,981 $2,449 $991 $990 $1,088 $1,108 $1,297 
Noninterest income:
Investment and brokerage services1,033 1,048 473 560 487 439 480 
Investment banking fees1,940 1,542 959 981 712 738 939 
Market making and similar activities5,434 5,334 1,964 3,470 1,413 1,725 2,360 
All other income530 202 333 197 207 273 274 
Total noninterest income8,937 8,126 3,729 5,208 2,819 3,175 4,053 
Total revenue, net of interest expense (1)
10,918 10,575 4,720 6,198 3,907 4,283 5,350 
Provision for credit losses17 212 22 (5)18 21 105 
Noninterest expense6,898 5,498 3,471 3,427 2,821 3,103 2,684 
Income before income taxes4,003 4,865 1,227 2,776 1,068 1,159 2,561 
Income tax expense1,041 1,265 319 722 278 301 666 
Net income$2,962 $3,600 $908 $2,054 $790 $858 $1,895 
Return on average allocated capital (2)
16 %20 %10 %22 %9 %9 %21 %
Efficiency ratio63.19 51.99 73.55 55.30 72.20 72.44 50.17 
Balance Sheet
Average
Total trading-related assets$534,496 $485,054 $566,842 $501,789 $476,607 $485,314 $466,990 
Total loans and leases82,649 72,896 87,826 77,415 74,133 72,319 74,131 
Total earning assets513,261 490,132 531,000 495,324 472,410 476,182 478,648 
Total assets760,616 688,062 797,558 723,264 683,146 680,983 663,072 
Total deposits54,723 39,203 55,584 53,852 54,539 56,475 45,083 
Allocated capital (2)
38,000 36,000 38,000 38,000 36,000 36,000 36,000 
Period end
Total trading-related assets$542,614 $468,309 $542,614 $524,188 $421,698 $477,552 $468,309 
Total loans and leases96,105 74,342 96,105 84,247 78,415 75,475 74,342 
Total earning assets527,983 462,184 527,983 496,103 447,350 461,855 462,184 
Total assets 773,714 652,068 773,714 745,681 616,609 676,242 652,068 
Total deposits57,297 52,842 57,297 61,450 53,925 56,727 52,842 
Trading-related assets (average)
Trading account securities$285,081 $236,704 $304,760 $265,181 $248,785 $251,735 $216,157 
Reverse repurchases108,201 110,291 116,424 99,886 97,932 100,395 104,883 
Securities borrowed95,231 89,860 101,144 89,253 82,331 86,508 96,448 
Derivative assets45,983 48,199 44,514 47,469 47,559 46,676 49,502 
Total trading-related assets$534,496 $485,054 $566,842 $501,789 $476,607 $485,314 $466,990 
(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. For additional sales and trading revenue information, see page 23.
(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.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
22

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
20212020
Sales and trading revenue (1)
Fixed-income, currencies and commodities$5,179 $5,886 $1,937 $3,242 $1,690 $2,019 $2,941 
Equities3,460 2,900 1,624 1,836 1,317 1,205 1,210 
Total sales and trading revenue$8,639 $8,786 $3,561 $5,078 $3,007 $3,224 $4,151 
Sales and trading revenue, excluding net debit valuation adjustment (2)(3)
Fixed-income, currencies and commodities$5,216 $5,857 $1,965 $3,251 $1,742 $2,126 $3,186 
Equities3,459 2,890 1,630 1,829 1,321 1,214 1,226 
Total sales and trading revenue, excluding net debit valuation adjustment
$8,675 $8,747 $3,595 $5,080 $3,063 $3,340 $4,412 
Sales and trading revenue breakdown
Net interest income$1,813 $2,182 $914 $899 $999 $960 $1,158 
Commissions1,010 1,027 462 548 476 429 470 
Trading5,433 5,333 1,963 3,470 1,412 1,725 2,360 
Other383 244 222 161 120 110 163 
Total sales and trading revenue$8,639 $8,786 $3,561 $5,078 $3,007 $3,224 $4,151 
(1)    Includes Global Banking sales and trading revenue of $274 million and $294 million for the six months ended June 30, 2021 and 2020, and $170 million and $104 million for the second and first quarters of 2021, and $101 million, $85 million and $65 million for the fourth, third and second quarters of 2020, respectively.
(2)    For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.
(3)Net DVA gains (losses) were $(36) million and $39 million for the six months ended June 30, 2021 and 2020 and $(34) million, $(2) million, $(56) million, $(116) million and $(261) million for the second and first quarters of 2021 and the fourth, third and second quarters of 2020, respectively. FICC net DVA gains (losses) were $(37) million and $29 million for the six months ended June 30, 2021 and 2020, and $(28) million, $(9) million, $(52) million, $(107) million and $(245) million for the second and first quarters of 2021 and the fourth, third and second quarters of 2020, respectively. Equities net DVA gains (losses) were $1 million and $10 million for the six months ended June 30, 2021 and 2020, and $(6) million, $7 million. $(4) million, $(9) million and $(16) million for the second and first quarters of 2021 and the fourth, third and second quarters of 2020, respectively.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
23

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
 Six Months Ended
June 30		Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
 20212020
Net interest income$128 $24 $41 $87 $31 $(20)$(53)
Noninterest income (loss)(2,551)(1,266)(1,525)(1,026)(1,424)(915)(211)
Total revenue, net of interest expense(2,423)(1,242)(1,484)(939)(1,393)(935)(264)
Provision for credit losses(100)93 (53)(47)(25)(18)(21)
Noninterest expense610 553 302 308 301 559 305 
Loss before income taxes(2,933)(1,888)(1,733)(1,200)(1,669)(1,476)(548)
Income tax expense (benefit)(5,052)(1,614)(3,596)(1,456)(1,248)(1,773)(766)
Net income (loss)$2,119 $(274)$1,863 $256 $(421)$297 $218 
Balance Sheet
Average
Total loans and leases$20,007 $33,238 $19,209 $20,815 $22,029 $24,243 $29,923 
Total assets (2)
197,281 225,674 187,226 207,449 232,814 230,906 249,846 
Total deposits14,212 22,473 14,073 14,354 13,251 14,881 21,387 
Period end
Total loans and leases$18,306 $25,096 $18,306 $19,850 $21,301 $23,120 $25,096 
Total assets (3)
206,341 240,159 206,341 204,008 264,141 223,345 240,159 
Total deposits13,540 19,149 13,540 12,513 12,998 12,839 19,149 
(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 $1.0 trillion and $656.5 billion for the six months ended June 30, 2021 and 2020, $1.1 trillion and $1.0 trillion for the second and first quarters of 2021, and $908.7 billion, $828.3 billion and $740.7 billion for the fourth, third and second quarters of 2020, respectively.
(3)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $1.1 trillion, $1.1 trillion, $977.7 billion, $857.8 billion and $829.1 billion at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively.


Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
24

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
June 30
2021		March 31
2021		June 30
2020
Consumer
Residential mortgage$214,324 $214,779 $239,500 
Home equity30,469 32,078 38,396 
Credit card75,599 72,786 84,244 
Direct/Indirect consumer (1) 
96,903 91,737 88,628 
Other consumer (2) 
172 132 120 
Total consumer loans excluding loans accounted for under the fair value option417,467 411,512 450,888 
Consumer loans accounted for under the fair value option (3) 
654 693 684 
Total consumer418,121 412,205 451,572 
Commercial
U.S. commercial291,322 283,229 313,938 
Non-U.S. commercial98,150 91,335 103,684 
Commercial real estate (4) 
59,606 58,764 64,095 
Commercial lease financing15,768 16,359 18,200 
464,846 449,687 499,917 
U.S. small business commercial (5)
29,867 34,886 38,963 
Total commercial loans excluding loans accounted for under the fair value option494,713 484,573 538,880 
Commercial loans accounted for under the fair value option (3) 
6,094 6,310 8,492 
Total commercial500,807 490,883 547,372 
Total loans and leases $918,928 $903,088 $998,944 
(1)Includes primarily auto and specialty lending loans and leases of $46.4 billion, $45.4 billion and $48.4 billion, U.S. securities-based lending loans of $46.4 billion, $42.4 billion and $36.6 billion and non-U.S. consumer loans of $3.0 billion, $3.1 billion and $2.8 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(2)Substantially all of other consumer is consumer overdrafts.
(3)Consumer loans accounted for under the fair value option includes residential mortgage loans of $257 million, $275 million and $330 million and home equity loans of $397 million, $418 million and $354 million at June 30, 2021, March 31, 2021 and June 30, 2020, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $4.2 billion, $4.2 billion and $5.1 billion and non-U.S. commercial loans of $1.9 billion, $2.1 billion and $3.4 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(4)Includes U.S. commercial real estate loans of $55.8 billion, $55.8 billion and $60.6 billion and non-U.S. commercial real estate loans of $3.8 billion, $3.0 billion and $3.5 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(5)Includes card-related products and Paycheck Protection Program (PPP) loans.


Certain prior-period amounts have been reclassified to conform to current-period presentation.

Current-period information is preliminary and based on company data available at the time of the presentation.
25

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
 Second Quarter 2021
 Total
Corporation		Consumer BankingGWIMGlobal
Banking		Global
Markets		All 
Other
Consumer
Residential mortgage$214,096 $109,652 $89,129 $1 $— $15,314 
Home equity31,621 24,839 2,670 — 275 3,837 
Credit card73,399 70,900 2,499 — — — 
Direct/Indirect and other consumer94,321 46,233 48,085 — — 3 
Total consumer413,437 251,624 142,383 1 275 19,154 
Commercial
U.S. commercial322,633 30,131 46,253 188,716 57,188 345 
Non-U.S. commercial96,343 — 1,078 70,666 24,490 109 
Commercial real estate59,276 12 4,274 49,139 5,847 4 
Commercial lease financing16,211 — — 16,588 26 (403)
Total commercial494,463 30,143 51,605 325,109 87,551 55 
Total loans and leases$907,900 $281,767 $193,988 $325,110 $87,826 $19,209 
 First Quarter 2021
 Total
Corporation		Consumer BankingGWIMGlobal
Banking		Global
Markets		All 
Other
Consumer
Residential mortgage$219,005 $113,729 $88,532 $— $— $16,744 
Home equity33,634 26,490 2,812 — 284 4,048 
Credit card74,165 71,805 2,360 — — — 
Direct/Indirect and other consumer91,430 46,320 45,107 — — 3 
Total consumer418,234 258,344 138,811 — 284 20,795 
Commercial
U.S. commercial322,010 32,535 44,436 192,628 52,016 395 
Non-U.S. commercial90,904 — 932 70,573 19,369 30 
Commercial real estate59,736 12 4,316 49,685 5,717 6 
Commercial lease financing16,839 — — 17,221 29 (411)
Total commercial489,489 32,547 49,684 330,107 77,131 20 
Total loans and leases $907,723 $290,891 $188,495 $330,107 $77,415 $20,815 
 Second Quarter 2020
 Total
Corporation		Consumer BankingGWIMGlobal
Banking		Global
Markets		All 
Other
Consumer
Residential mortgage$241,486 $127,380 $88,718 $3 $— $25,385 
Home equity39,308 31,220 3,160 — 304 4,624 
Credit card86,191 83,890 2,301 — — — 
Direct/Indirect and other consumer88,962 49,390 39,569 — — 3 
Total consumer455,947 291,880 133,748 3 304 30,012 
Commercial
U.S. commercial374,965 29,662 43,244 252,649 49,184 226 
Non-U.S. commercial116,040 — 675 96,742 18,520 103 
Commercial real estate65,515 16 4,482 54,938 6,069 10 
Commercial lease financing18,920 — 1 19,293 54 (428)
Total commercial575,440 29,678 48,402 423,622 73,827 (89)
Total loans and leases$1,031,387 $321,558 $182,150 $423,625 $74,131 $29,923 



Certain prior-period amounts have been reclassified among the segments to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
26

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4, 6)
(Dollars in millions)
Commercial UtilizedTotal Commercial Committed
June 30
2021		March 31
2021		June 30
2020		June 30
2021		March 31
2021		June 30
2020
Asset managers and funds$78,769 $68,195 $63,675 $120,332 $105,459 $99,566 
Real estate (5)
66,707 66,159 73,887 92,609 89,891 95,492 
Capital goods38,906 37,030 47,600 84,180 78,134 85,571 
Finance companies52,314 49,483 40,661 78,342 76,246 63,767 
Healthcare equipment and services32,112 31,750 39,453 62,851 56,118 63,421 
Materials23,641 23,474 28,768 50,630 50,704 52,411 
Government and public education38,295 39,093 43,787 50,561 51,381 55,972 
Retailing23,388 23,857 28,479 48,318 47,562 48,403 
Consumer services28,438 29,877 34,238 48,055 47,471 48,272 
Food, beverage and tobacco22,569 22,597 24,529 46,276 44,651 45,909 
Commercial services and supplies20,027 21,139 24,635 39,836 37,768 38,091 
Individuals and trusts28,785 28,326 25,940 38,329 37,989 36,270 
Transportation21,842 21,745 26,011 32,210 32,032 35,111 
Energy13,223 13,596 16,948 31,830 32,416 37,377 
Utilities13,044 11,681 13,310 31,777 29,481 29,978 
Media12,318 12,358 14,117 29,342 25,262 25,939 
Technology hardware and equipment9,446 9,248 9,760 25,208 24,434 21,899 
Software and services8,213 10,536 10,741 21,991 25,674 19,843 
Global commercial banks20,143 21,019 24,946 21,818 23,048 27,202 
Consumer durables and apparel8,587 8,507 10,931 19,731 19,484 21,061 
Telecommunication services8,983 8,752 7,939 18,456 24,422 13,581 
Automobiles and components9,340 11,694 12,336 17,091 20,213 18,477 
Pharmaceuticals and biotechnology4,934 4,216 6,395 16,099 16,932 17,029 
Vehicle dealers10,821 13,487 15,369 14,852 16,877 19,798 
Insurance5,123 6,052 6,644 13,791 14,567 14,022 
Food and staples retailing5,354 5,499 6,383 10,716 10,570 10,613 
Religious and social organizations4,042 4,473 5,321 5,828 6,347 7,132 
Financial markets infrastructure (clearinghouses)3,666 4,271 4,852 5,779 7,275 7,330 
Total commercial credit exposure by industry$613,030 $608,114 $667,655 $1,076,838 $1,052,408 $1,059,537 
(1)Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by cash collateral of $32.3 billion, $35.3 billion and $42.2 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $37.1 billion, $39.4 billion and $32.2 billion, which consists primarily of other marketable securities, at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(2)Total utilized and total committed exposure includes loans of $6.1 billion, $6.3 billion and $8.5 billion and issued letters of credit with a notional amount of $80 million, $79 million and $152 million accounted for under the fair value option at June 30, 2021, March 31, 2021 and June 30, 2020, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $5.2 billion, $4.5 billion and $2.7 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(3)Includes U.S. small business commercial exposure.
(4)Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.
(5)Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the primary business activity of the borrowers or the counterparties using operating cash flows and primary source of repayment as key factors.
(6)Includes $15.7 billion, $21.1 billion and $25.1 billion of PPP loan exposure across impacted industries at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.


Certain prior-period amounts have been reclassified to conform to current-period presentation.


Current-period information is preliminary and based on company data available at the time of the presentation.
27

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
June 30
2021		March 31
2021		December 31
2020		September 30
2020		June 30
2020
Residential mortgage$2,343 $2,366 $2,005 $1,675 $1,552 
Home equity651 669 649 640 594 
Direct/Indirect consumer50 56 71 42 45 
Total consumer3,044 3,091 2,725 2,357 2,191 
U.S. commercial1,060 1,228 1,243 1,351 1,247 
Non-U.S. commercial275 342 418 338 387 
Commercial real estate404 354 404 414 474 
Commercial lease financing81 80 87 14 17 
1,820 2,004 2,152 2,117 2,125 
U.S. small business commercial43 67 75 76 77 
Total commercial1,863 2,071 2,227 2,193 2,202 
Total nonperforming loans and leases4,907 5,162 4,952 4,550 4,393 
Foreclosed properties (1)
124 137 164 180 218 
Total nonperforming loans, leases and foreclosed properties (2, 3)
$5,031 $5,299 $5,116 $4,730 $4,611 
Fully-insured home loans past due 30 days or more and still accruing$997 $1,030 $1,090 $1,213 $1,153 
Consumer credit card past due 30 days or more and still accruing 976 1,317 1,689 1,270 1,420 
Other loans past due 30 days or more and still accruing2,699 3,506 3,398 3,322 2,980 
Total loans past due 30 days or more and still accruing (4, 5)
$4,672 $5,853 $6,177 $5,805 $5,553 
Fully-insured home loans past due 90 days or more and still accruing$687 $728 $762 $837 $854 
Consumer credit card past due 90 days or more and still accruing
533 755 903 546 782 
Other loans past due 90 days or more and still accruing299 309 417 365 579 
Total loans past due 90 days or more and still accruing (4, 5)
$1,519 $1,792 $2,082 $1,748 $2,215 
Nonperforming loans, leases and foreclosed properties/Total assets (6)
0.17 %0.18 %0.18 %0.17 %0.17 %
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)
0.55 0.59 0.56 0.50 0.47 
Nonperforming loans and leases/Total loans and leases (6)
0.54 0.58 0.54 0.48 0.44 
Commercial reservable criticized utilized exposure (7)
$28,878 $34,283 $38,666 $35,710 $25,950 
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (7)
5.45 %6.59 %7.31 %6.55 %4.51 %
Total commercial criticized utilized exposure/Commercial utilized exposure (7)
5.37 6.41 7.22 6.34 4.34 
(1)Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $66 million, $87 million, $119 million, $131 million and $124 million at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively.
(2)Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.
(3)Balances do not include nonperforming loans held-for-sale of $348 million, $384 million, $359 million, $184 million and $151 million and nonperforming loans accounted for under the fair value option of $13 million, $12 million, $11 million, $9 million and $79 million at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively.
(4)Balances do not include loans held-for-sale past due 30 days or more and still accruing of $159 million, $75 million, $38 million, $93 million and $209 million at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively, and loans held-for-sale past due 90 days or more and still accruing of $70 million, $18 million, $32 million, $41 million and $5 million at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively. At June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, there were $74 million, $12 million, $15 million, $119 million and $18 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.
(5)These balances are excluded from total nonperforming loans, leases and foreclosed properties.
(6)Total assets and total loans and leases do not include loans accounted for under the fair value option of $6.7 billion, $7.0 billion, $6.7 billion, $7.2 billion and $9.2 billion at June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020, respectively.
(7)Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
28

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
 (Dollars in millions)
Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
Nonperforming Consumer Loans and Leases:
Balance, beginning of period$3,091 $2,725 $2,357 $2,191 $2,204 
Additions431 851 860 587 354 
Reductions:
Paydowns and payoffs(160)(123)(137)(113)(84)
Sales(1)(1)(7)— (25)
Returns to performing status (2)
(291)(347)(325)(291)(233)
Charge-offs (3)
(25)(12)(16)(13)(22)
Transfers to foreclosed properties(1)(2)(7)(4)(3)
Total net additions (reductions) to nonperforming loans and leases(47)366 368 166 (13)
Total nonperforming consumer loans and leases, end of period3,044 3,091 2,725 2,357 2,191 
Foreclosed properties93 101 123 135 169 
Nonperforming consumer loans, leases and foreclosed properties, end of period$3,137 $3,192 $2,848 $2,492 $2,360 
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period$2,071 $2,227 $2,193 $2,202 $1,852 
Additions503 472 1,192 656 889 
Reductions:
Paydowns(264)(312)(397)(216)(177)
Sales(77)(22)(274)(50)(10)
Return to performing status (5)
(59)(28)(127)(21)(8)
Charge-offs(108)(78)(313)(367)(344)
Transfers to foreclosed properties— — (2)— — 
Transfers to loans held-for-sale(203)(188)(45)(11)— 
Total net additions (reductions) to nonperforming loans and leases(208)(156)34 (9)350 
Total nonperforming commercial loans and leases, end of period1,863 2,071 2,227 2,193 2,202 
Foreclosed properties31 36 41 45 49 
Nonperforming commercial loans, leases and foreclosed properties, end of period$1,894 $2,107 $2,268 $2,238 $2,251 
(1)For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 28.
(2)Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.
(3)Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and, accordingly, are excluded from this table.
(4)Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.
(5)Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
29

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1) 
(Dollars in millions)
 Second
Quarter
2021		First
Quarter
2021		Fourth
Quarter
2020		Third
Quarter
2020		Second
Quarter
2020
AmountPercentAmountPercentAmountPercentAmountPercentAmountPercent
Net Charge-offs
Residential mortgage $(6)(0.01)%$(4)(0.01)%$(3)— %$(6)(0.01)%$(20)(0.03)%
Home equity(24)(0.31)(35)(0.42)(28)(0.31)(20)(0.21)(14)(0.14)
Credit card488 2.67 634 3.47 405 2.06 509 2.49 665 3.10 
Direct/Indirect consumer(9)(0.04)31 0.14 38 0.17 18 0.08 26 0.12 
Other consumer64 n/m67 n/m70 n/m63 n/m77 n/m
Total consumer513 0.50 693 0.67 482 0.44 564 0.50 734 0.65 
U.S. commercial (31)(0.04)12 0.02 182 0.25 154 0.20 219 0.26 
Non-U.S. commercial14 0.06 26 0.12 65 0.28 57 0.23 32 0.12 
Total commercial and industrial(17)(0.02)38 0.04 247 0.26 211 0.21 251 0.22 
Commercial real estate17 0.11 11 0.07 101 0.66 106 0.66 57 0.35 
Commercial lease financing— — — — (1)(0.03)24 0.53 31 0.66 
— — 49 0.04 347 0.30 341 0.28 339 0.25 
U.S. small business commercial82 0.98 81 0.89 52 0.53 67 0.69 73 0.96 
Total commercial82 0.07 130 0.11 399 0.32 408 0.31 412 0.29 
Total net charge-offs$595 0.27 $823 0.37 $881 0.38 $972 0.40 $1,146 0.45 
By Business Segment and All Other
Consumer Banking$625 0.89 %$810 1.13 %$563 0.73 %$658 0.82 %$843 1.05 %
Global Wealth & Investment Management— — 13 0.03 9 0.02 (6)(0.01)9 0.02 
Global Banking3 — 36 0.05 314 0.37 328 0.36 330 0.32 
Global Markets— — 3 0.01 24 0.13 17 0.10 — — 
All Other (33)(0.70)(39)(0.78)(29)(0.53)(25)(0.40)(36)(0.49)
Total net charge-offs$595 0.27 $823 0.37 $881 0.38 $972 0.40 $1,146 0.45 
(1)Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.
n/m = not meaningful




Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
30

Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1) 
(Dollars in millions)
 Six Months Ended June 30
 20212020
AmountPercentAmountPercent
Net Charge-offs
Residential mortgage$(10)(0.01)%$(21)(0.02)%
Home equity (59)(0.37)(25)(0.13)
Credit card1,122 3.07 1,435 3.19 
Direct/Indirect consumer22 0.05 66 0.15 
Other consumer131 n/m151 n/m
Total consumer1,206 0.59 1,606 0.70 
U.S. commercial (19)(0.01)382 0.24 
Non-U.S. commercial40 0.09 33 0.06 
Total commercial and industrial21 0.01 415 0.19 
Commercial real estate28 0.09 63 0.20 
Commercial lease financing— — 36 0.38 
49 0.02 514 0.20 
U.S. small business commercial163 0.93 148 1.29 
Total commercial212 0.09 662 0.25 
Total net charge-offs$1,418 0.32 $2,268 0.46 
By Business Segment and All Other
Consumer Banking$1,435 1.01 %$1,806 1.14 %
Global Wealth & Investment Management13 0.01 18 0.02 
Global Banking39 0.02 490 0.25 
Global Markets3 0.01 7 0.02 
All Other(72)(0.74)(53)(0.33)
Total net charge-offs$1,418 0.32 $2,268 0.46 
(1)Net charge-off ratios are calculated as net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.
n/m = not meaningful



Certain prior-period amounts have been reclassified to conform to current-period presentation.


Current-period information is preliminary and based on company data available at the time of the presentation.
31

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
June 30, 2021March 31, 2021June 30, 2020
Amount
Percent of
Loans and
Leases
Outstanding (1, 2)
Amount
Percent of
Loans and
Leases
Outstanding (1, 2)
Amount
Percent of
Loans and
Leases
Outstanding (1, 2)
Allowance for loan and lease losses
Residential mortgage$394 0.18%$428 0.20%$439 0.18%
Home equity203 0.67261 0.81394 1.03
Credit card6,234 8.257,278 10.009,247 10.98
Direct/Indirect consumer555 0.57617 0.67800 0.90
Other consumer46 n/m51 n/m75 n/m
Total consumer7,432 1.788,635 2.1010,955 2.43
U.S. commercial (3)
3,529 1.104,131 1.304,788 1.36
Non-U.S.commercial1,091 1.111,154 1.261,321 1.27
Commercial real estate1,956 3.282,148 3.662,235 3.49
Commercial lease financing87 0.55100 0.6190 0.50
Total commercial 6,663 1.357,533 1.558,434 1.57
Allowance for loan and lease losses14,095 1.5516,168 1.8019,389 1.96
Reserve for unfunded lending commitments1,687 1,829 1,702  
Allowance for credit losses$15,782 $17,997 $21,091  
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (2)
1.55%1.80%1.96%
Allowance for loan and lease losses/Total nonperforming loans and leases (4)
287313441
Ratio of the allowance for loan and lease losses/Annualized net charge-offs
5.904.854.21
(1)Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option include residential mortgage loans of $257 million, $275 million and $330 million and home equity loans of $397 million, $418 million and $354 million at June 30, 2021, March 31, 2021 and June 30, 2020, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $4.2 billion, $4.2 billion and $5.1 billion and non-U.S. commercial loans of $1.9 billion, $2.1 billion and $3.4 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(2)Total loans and leases do not include loans accounted for under the fair value option of $6.7 billion, $7.0 billion and $9.2 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(3)Includes allowance for loan and lease losses for U.S. small business commercial loans of $1.4 billion, $1.5 billion and $1.4 billion at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
(4)Allowance for loan and lease losses includes $7.5 billion, $8.7 billion and $10.5 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking) that are excluded from nonperforming loans and leases at June 30, 2021, March 31, 2021 and June 30, 2020, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 134 percent, 144 percent and 202 percent at June 30, 2021, March 31, 2021 and June 30, 2020, respectively.
n/m = not meaningful

Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
32

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 based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders’ equity or common shareholders’ equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. 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 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 assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. 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 closely related financial measures defined by GAAP for the six months ended June 30, 2021 and 2020, and the three months ended June 30, 2021, March 31, 2021, December 31, 2020, September 30, 2020 and June 30, 2020. 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 supplemental financial data differently.
 Six Months Ended
June 30		Second Quarter 2021First Quarter 2021Fourth Quarter 2020Third Quarter 2020Second Quarter 2020
 20212020
Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes$17,208 $8,330 $8,042 $9,166 $6,119 $4,546 $3,799 
Provision for credit losses(3,481)9,878 (1,621)(1,860)53 1,389 5,117 
Pretax, pre-provision income$13,727 $18,208 $6,421 $7,306 $6,172 $5,935 $8,916 
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity$274,341 $265,425 $274,632 $274,047 $271,020 $267,323 $266,316 
Goodwill(68,987)(68,951)(69,023)(68,951)(68,951)(68,951)(68,951)
Intangible assets (excluding mortgage servicing rights)(2,179)(1,648)(2,212)(2,146)(2,173)(1,976)(1,640)
Related deferred tax liabilities917 759 915 920 910 855 790 
Tangible shareholders’ equity$204,092 $195,585 $204,312 $203,870 $200,806 $197,251 $196,515 
Preferred stock(24,039)(23,442)(23,684)(24,399)(24,180)(23,427)(23,427)
Tangible common shareholders’ equity$180,053 $172,143 $180,628 $179,471 $176,626 $173,824 $173,088 
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity$277,119 $265,637 $277,119 $274,000 $272,924 $268,850 $265,637 
Goodwill(69,023)(68,951)(69,023)(68,951)(68,951)(68,951)(68,951)
Intangible assets (excluding mortgage servicing rights)(2,192)(1,630)(2,192)(2,134)(2,151)(2,185)(1,630)
Related deferred tax liabilities915 789 915 915 920 910 789 
Tangible shareholders’ equity$206,819 $195,845 $206,819 $203,830 $202,742 $198,624 $195,845 
Preferred stock(23,441)(23,427)(23,441)(24,319)(24,510)(23,427)(23,427)
Tangible common shareholders’ equity
$183,378 $172,418 $183,378 $179,511 $178,232 $175,197 $172,418 
Reconciliation of period-end assets to period-end tangible assets
Assets$3,029,894 $2,741,688 $3,029,894 $2,969,992 $2,819,627 $2,738,452 $2,741,688 
Goodwill(69,023)(68,951)(69,023)(68,951)(68,951)(68,951)(68,951)
Intangible assets (excluding mortgage servicing rights)(2,192)(1,630)(2,192)(2,134)(2,151)(2,185)(1,630)
Related deferred tax liabilities915 789 915 915 920 910 789 
Tangible assets$2,959,594 $2,671,896 $2,959,594 $2,899,822 $2,749,445 $2,668,226 $2,671,896 
Book value per share of common stock
Common shareholders’ equity$253,678 $242,210 $253,678 $249,681 $248,414 $245,423 $242,210 
Ending common shares issued and outstanding8,487.2 8,664.1 8,487.2 8,589.7 8,650.8 8,661.5 8,664.1 
Book value per share of common stock$29.89 $27.96 $29.89 $29.07 $28.72 $28.33 $27.96 
Tangible book value per share of common stock
Tangible common shareholders’ equity$183,378 $172,418 $183,378 $179,511 $178,232 $175,197 $172,418 
Ending common shares issued and outstanding8,487.2 8,664.1 8,487.2 8,589.7 8,650.8 8,661.5 8,664.1 
Tangible book value per share of common stock$21.61 $19.90 $21.61 $20.90 $20.60 $20.23 $19.90 


Certain prior-period amounts have been reclassified to conform to current-period presentation.
Current-period information is preliminary and based on company data available at the time of the presentation.
33