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, 2019

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, 2019 and 2018. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2018 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Other, see Note 18 – Business Segment Information.




	Three Months Ended March 31
(Dollars in millions)	2019		2018
Net interest income
Interest income
Loans and leases	$	10,885	$	9,623
Debt securities	3,119		2,804
Federal funds sold and securities borrowed or purchased under agreements to resell	1,195		622
Trading account assets	1,322		1,136
Other interest income	1,649		1,414
Total interest income	18,170		15,599

Interest expense
Deposits	1,795		760
Short-term borrowings	1,852		1,135
Trading account liabilities	345		357
Long-term debt	1,803		1,578
Total interest expense	5,795		3,830
Net interest income	$	12,375	$	11,769

Noninterest income
Fees and commissions
Card income
Interchange fees ⁽¹⁾	$	896	$	914
Other card income	479		488
Total card income	1,375		1,402
Service charges
Deposit-related fees	1,580		1,646
Lending-related fees	259		275
Total service charges	1,839		1,921
Investment and brokerage services
Asset management fees	2,440		2,564
Brokerage fees	920		1,100
Total investment and brokerage services	3,360		3,664
Investment banking fees
Underwriting income	666		740
Syndication fees	255		317
Financial advisory services	343		296
Total investment banking fees	1,264		1,353
Total fees and commissions	7,838		8,340
Trading account income	2,338		2,553
Other income	453		408
Total noninterest income	$	10,629	$	11,301

⁽¹⁾

Gross interchange fees were $2.3 billion and $2.2 billion for the three months ended March 31, 2019 and 2018, and are presented net of $1.4 billion and $1.3 billion, respectively, of expenses for rewards and partner payments.