Bank of America Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Net Interest Income and Noninterest Income (Tables)

Net Interest Income and Noninterest Income (Tables)

3 Months Ended

Mar. 31, 2020

Revenue from Contract with Customer [Abstract]

The table below presents the Corporation’s net interest income and noninterest income disaggregated by revenue source for the three months ended March 31, 2020 and 2019. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2019 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 17 – Business Segment Information.




	Three Months Ended March 31
(Dollars in millions)	2020			2019
Net interest income
Interest income
Loans and leases	$	9,963		$	10,885
Debt securities	2,843			3,119
Federal funds sold and securities borrowed or purchased under agreements to resell	819			1,195
Trading account assets	1,247			1,322
Other interest income	1,226			1,649
Total interest income	16,098			18,170

Interest expense
Deposits	1,184			1,795
Short-term borrowings	1,120			1,852
Trading account liabilities	329			345
Long-term debt	1,335			1,803
Total interest expense	3,968			5,795
Net interest income	$	12,130		$	12,375

Noninterest income
Fees and commissions
Card income
Interchange fees ⁽¹⁾	$	792		$	896
Other card income	480			479
Total card income	1,272			1,375
Service charges
Deposit-related fees	1,627			1,580
Lending-related fees	276			259
Total service charges	1,903			1,839
Investment and brokerage services
Asset management fees	2,682			2,440
Brokerage fees	1,076			920
Total investment and brokerage services	3,758			3,360
Investment banking fees
Underwriting income	848			666
Syndication fees	271			255
Financial advisory services	269			343
Total investment banking fees	1,388			1,264
Total fees and commissions	8,321			7,838
Market making and similar activities	2,807			2,768
Other income	(491		)	23
Total noninterest income	$	10,637		$	10,629

⁽¹⁾

Gross interchange fees were $2.3 billion for both the three months ended March 31, 2020 and 2019, and are presented net of $1.5 billion and $1.4 billion of expenses for rewards and partner payments for the same periods.