January 14, 2026 - THE SUPPLEMENTAL INFORMATION - 8-K: Current report

Supplemental Information
Fourth Quarter 2025

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.

* Website content is not incorporated by reference into this Supplemental Information.


Bank of America Corporation and Subsidiaries
Table of Contents			Page


Consolidated Financial Highlights			2
Consolidated Statement of Income			3
Consolidated Statement of Comprehensive Income			3
Net Interest Income and Noninterest Income			4
Consolidated Balance Sheet			5
Capital Management			6
Capital Composition under Basel 3			7
Quarterly Average Balances and Interest Rates			8

Debt Securities			9
Supplemental Financial Data			10
Quarterly Results by Business Segment and All Other			11
Annual Results by Business Segment and All Other			13
Consumer Banking
Total Segment Results			14
Key Indicators			15

Global Wealth & Investment Management
Total Segment Results			16
Key Indicators			17
Global Banking
Total Segment Results			18
Key Indicators			19

Global Markets
Total Segment Results			20
Key Indicators			21
All Other
Total Results			22
Outstanding Loans and Leases			23
Quarterly Average Loans and Leases by Business Segment and All Other			24
Commercial Credit Exposure by Industry			25

Nonperforming Loans, Leases and Foreclosed Properties			26
Nonperforming Loans, Leases and Foreclosed Properties Activity			27
Quarterly Net Charge-offs and Net Charge-off Ratios			28
Annual Net Charge-offs and Net Charge-off Ratios			29
Allocation of the Allowance for Credit Losses by Product Type			30

Exhibit A: Non-GAAP Reconciliations			31







Changes in Accounting Methods for Certain Tax-related Equity Investments


Effective in the fourth quarter of 2025, the Corporation elected to change its accounting methods for its tax-related affordable housing, eligible wind renewable energy and solar renewable energy equity investments, which were applied on a retrospective basis. The Corporation determined that the new accounting methods are preferable as they better align the financial statement presentation with the economic impact of these equity investments. The primary impact of the accounting changes is a reclassification between income statement line items that nets income tax credits and benefits against the investment expense. For more information, see the Corporation’s Current Report on Form 8-K furnished with the SEC on January 6, 2026. Certain prior-period financial information presented herein for the Consolidated Statement of Income, Consolidated Balance Sheet, consolidated quarterly averages, segment results and performance metrics has been revised to reflect the accounting method changes.

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)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Income statement
Net interest income	$	60,096		$	56,060		$	15,750		$	15,233		$	14,670		$	14,443		$	14,359
Noninterest income	53,001			49,796			12,617			13,807			12,773			13,804			12,116
Total revenue, net of interest expense	113,097			105,856			28,367			29,040			27,443			28,247			26,475
Provision for credit losses	5,675			5,821			1,308			1,295			1,592			1,480			1,452
Noninterest expense	69,727			66,812			17,437			17,337			17,183			17,770			16,787
Income before income taxes	37,695			33,223			9,622			10,408			8,668			8,997			8,236
Pretax, pre-provision income (1)	43,370			39,044			10,930			11,703			10,260			10,477			9,688
Income tax expense	7,186			6,250			1,975			2,076			1,498			1,637			1,430
Net income	30,509			26,973			7,647			8,332			7,170			7,360			6,806
Preferred stock dividends	1,454			1,629			328			429			291			406			266
Net income applicable to common shareholders	29,055			25,344			7,319			7,903			6,879			6,954			6,540
Diluted earnings per common share	3.81			3.19			0.98			1.04			0.90			0.89			0.83
Average diluted common shares issued and outstanding	7,680.9			7,935.8			7,546.9			7,627.1			7,651.6			7,770.8			7,843.7
Dividends paid per common share	$	1.08		$	1.00		$	0.28		$	0.28		$	0.26		$	0.26		$	0.26

Performance ratios
Return on average assets	0.89 %		%	0.82 %		%	0.89 %		%	0.96 %		%	0.84 %		%	0.89 %		%	0.82 %		%
Return on average common shareholders’ equity	10.59			9.53			10.45			11.40			10.12			10.37			9.64
Return on average shareholders’ equity	10.22			9.22			9.98			11.01			9.74			10.15			9.23
Return on average tangible common shareholders’ equity (2)	14.22			12.94			13.97			15.29			13.61			13.97			13.02
Return on average tangible shareholders’ equity (2)	13.36			12.13			12.97			14.35			12.77			13.32			12.12
Efficiency ratio	61.65			63.12			61.47			59.70			62.61			62.91			63.41


At period end
Book value per share of common stock	$	38.44		35.58			$	38.44		$	37.72		$	36.92		$	36.17		$	35.58
Tangible book value per share of common stock (2)	28.73			26.37			28.73			28.16			27.49			26.90			26.37
Market capitalization	396,686			334,497			396,686			378,125			351,904			315,482			334,497
Number of financial centers - U.S.	3,628			3,700			3,628			3,649			3,664			3,681			3,700
Number of branded ATMs - U.S.	14,909			14,893			14,909			14,920			14,904			14,866			14,893
Headcount	213,207			213,193			213,207			213,384			213,388			212,732			213,193

(1) Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure because it enables an assessment of the Corporation's ability to generate earnings to cover credit losses through a credit cycle. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 31.)

(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 31.)

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


Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Net interest income
Interest income	$	138,566	$	146,607	$	34,261	$	35,366	$	34,873	$	34,066	$	35,977
Interest expense	78,470		90,547		18,511		20,133		20,203		19,623		21,618
Net interest income	60,096		56,060		15,750		15,233		14,670		14,443		14,359

Noninterest income
Fees and commissions	39,402		36,291		10,181		10,337		9,469		9,415		9,543
Market making and similar activities	12,014		12,967		2,074		3,203		3,153		3,584		2,503
Other income	1,585		538		362		267		151		805		70
Total noninterest income	53,001		49,796		12,617		13,807		12,773		13,804		12,116
Total revenue, net of interest expense	113,097		105,856		28,367		29,040		27,443		28,247		26,475

Provision for credit losses	5,675		5,821		1,308		1,295		1,592		1,480		1,452

Noninterest expense
Compensation and benefits	42,346		40,182		10,602		10,523		10,332		10,889		10,245
Information processing and communications	7,453		7,231		1,913		1,827		1,819		1,894		1,884
Occupancy and equipment	7,448		7,289		1,884		1,872		1,836		1,856		1,824
Product delivery and transaction related	3,924		3,494		1,011		1,025		974		914		903

Professional fees	2,580		2,669		682		606		640		652		744
Marketing	2,204		1,956		563		572		563		506		510
Other general operating	3,772		3,991		782		912		1,019		1,059		677
Total noninterest expense	69,727		66,812		17,437		17,337		17,183		17,770		16,787
Income before income taxes	37,695		33,223		9,622		10,408		8,668		8,997		8,236
Income tax expense	7,186		6,250		1,975		2,076		1,498		1,637		1,430
Net income	$	30,509	$	26,973	$	7,647	$	8,332	$	7,170	$	7,360	$	6,806
Preferred stock dividends	1,454		1,629		328		429		291		406		266

Net income applicable to common shareholders	$	29,055	$	25,344	$	7,319	$	7,903	$	6,879	$	6,954	$	6,540

Per common share information
Earnings	$	3.86	$	3.23	$	0.99	$	1.06	$	0.91	$	0.91	$	0.85
Diluted earnings	3.81		3.19		0.98		1.04		0.90		0.89		0.83
Average common shares issued and outstanding	7,521.9		7,855.5		7,364.9		7,466.0		7,581.2		7,677.9		7,738.4
Average diluted common shares issued and outstanding	7,680.9		7,935.8		7,546.9		7,627.1		7,651.6		7,770.8		7,843.7


Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Net income	$	30,509	$	26,973	$	7,647	$	8,332	$	7,170	$	7,360	$	6,806
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	1,156		158		667		438		(315)		366		(286)
Net change in debit valuation adjustments	(329)		(127)		(168)		(305)		(153)		297		8
Net change in derivatives	3,590		2,428		445		636		1,196		1,313		(672)
Employee benefit plan adjustments	319		131		282		(16)		26		27		56
Net change in foreign currency translation adjustments	23		(87)		(7)		6		13		11		(57)
Other comprehensive income (loss)	4,759		2,503		1,219		759		767		2,014		(951)
Comprehensive income	$	35,268	$	29,476	$	8,866	$	9,091	$	7,937	$	9,374	$	5,855

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


Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Net interest income
Interest income
Loans and leases	$	63,080	$	61,993	$	16,015	$	16,191	$	15,651	$	15,223	$	15,690
Debt securities	27,393		26,007		6,755		6,958		6,913		6,767		6,712
Federal funds sold and securities borrowed or purchased under agreements to resell	15,433		19,911		3,763		3,802		4,094		3,774		4,381
Trading account assets	12,239		10,376		2,979		3,195		3,057		3,008		2,679
Other interest income	20,421		28,320		4,749		5,220		5,158		5,294		6,515
Total interest income	138,566		146,607		34,261		35,366		34,873		34,066		35,977

Interest expense
Deposits	34,513		38,442		8,268		8,932		8,681		8,632		9,524
Short-term borrowings	28,042		34,538		6,472		7,172		7,435		6,963		7,993
Trading account liabilities	2,657		2,191		602		672		676		707		567
Long-term debt	13,258		15,376		3,169		3,357		3,411		3,321		3,534
Total interest expense	78,470		90,547		18,511		20,133		20,203		19,623		21,618
Net interest income	$	60,096	$	56,060	$	15,750	$	15,233	$	14,670	$	14,443	$	14,359

Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	3,876	$	4,013	$	934	$	990	$	1,036	$	916	$	1,029
Other card income	2,483		2,271		632		639		610		602		593
Total card income	6,359		6,284		1,566		1,629		1,646		1,518		1,622
Service charges
Deposit-related fees	5,044		4,708		1,284		1,267		1,265		1,228		1,216
Lending-related fees	1,413		1,347		365		365		350		333		338
Total service charges	6,457		6,055		1,649		1,632		1,615		1,561		1,554
Investment and brokerage services
Asset management fees	15,601		13,875		4,193		3,972		3,698		3,738		3,702
Brokerage fees	4,355		3,891		1,107		1,091		1,082		1,075		1,011
Total investment and brokerage services	19,956		17,766		5,300		5,063		4,780		4,813		4,713
Investment banking fees
Underwriting income	3,320		3,275		752		992		806		770		763
Syndication fees	1,420		1,221		324		438		289		369		335
Financial advisory services	1,890		1,690		590		583		333		384		556
Total investment banking fees	6,630		6,186		1,666		2,013		1,428		1,523		1,654
Total fees and commissions	39,402		36,291		10,181		10,337		9,469		9,415		9,543
Market making and similar activities	12,014		12,967		2,074		3,203		3,153		3,584		2,503
Other income (loss)	1,585		538		362		267		151		805		70
Total noninterest income	$	53,001	$	49,796	$	12,617	$	13,807	$	12,773	$	13,804	$	12,116

(1)Gross interchange fees and merchant income were $13.8 billion and $13.6 billion and are presented net of $9.9 billion and $9.5 billion of expenses for rewards and partner payments as well as certain other card costs for the years ended December 31, 2025 and 2024. Gross interchange fees and merchant income were $3.6 billion, $3.4 billion, $3.5 billion, $3.3 billion and $3.5 billion and are presented net of $2.6 billion, $2.5 billion, $2.4 billion, $2.4 billion and $2.4 billion of expenses for rewards and partner payments as well as certain other card costs for the fourth, third, second and first quarters of 2025 and the fourth quarter of 2024, respectively.

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


Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
		December 31 2025		September 30 2025		December 31 2024
Assets
Cash and due from banks		$	28,595	$	25,352	$	26,003
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		203,250		221,155		264,111
Cash and cash equivalents		231,845		246,507		290,114
Time deposits placed and other short-term investments		7,474		8,212		6,372
Federal funds sold and securities borrowed or purchased under agreements to resell		316,578		325,800		274,709
Trading account assets		366,954		335,566		314,460
Derivative assets		40,881		42,115		40,948
Debt securities:
Carried at fair value		402,975		404,636		358,607
Held-to-maturity, at cost		522,660		531,414		558,677
Total debt securities		925,635		936,050		917,284
Loans and leases		1,185,700		1,165,900		1,095,835
Allowance for loan and lease losses		(13,203)		(13,252)		(13,240)
Loans and leases, net of allowance		1,172,497		1,152,648		1,082,595
Premises and equipment, net		12,516		12,348		12,168
Goodwill		69,021		69,021		69,021
Loans held-for-sale		5,165		6,831		9,545
Customer and other receivables		98,186		99,863		82,247
Other assets		163,642		168,188		161,836
Total assets		$	3,410,394	$	3,403,149	$	3,261,299

Liabilities
Deposits in U.S. offices:
Noninterest-bearing		$	517,834	$	510,208	$	507,561
Interest-bearing		1,361,177		1,354,445		1,329,014
Deposits in non-U.S. offices:
Noninterest-bearing		14,216		14,690		16,297
Interest-bearing		125,502		122,865		112,595
Total deposits		2,018,729		2,002,208		1,965,467
Federal funds purchased and securities loaned or sold under agreements to repurchase		344,716		342,588		331,758
Trading account liabilities		105,996		117,322		92,543
Derivative liabilities		42,076		40,157		39,353
Short-term borrowings		48,088		54,200		43,391
Accrued expenses and other liabilities		229,730		232,753		211,545
Long-term debt		317,816		311,484		283,279
Total liabilities		3,107,151		3,100,712		2,967,336
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,991,164, 3,991,164 and 3,877,917 shares		25,992		25,992		23,159
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 7,212,464,345, 7,329,421,929 and 7,610,862,311 shares		26,084		31,764		45,336
Retained earnings		261,693		256,426		240,753
Accumulated other comprehensive income (loss)		(10,526)		(11,745)		(15,285)
Total shareholders’ equity		303,243		302,437		293,963
Total liabilities and shareholders’ equity		$	3,410,394	$	3,403,149	$	3,261,299

	Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
	Trading account assets	$	4,145	$	6,063	$	5,575
	Loans and leases	17,875		18,007		19,144
	Allowance for loan and lease losses	(871)		(889)		(919)
	Loans and leases, net of allowance	17,004		17,118		18,225

	All other assets	709		614		319
	Total assets of consolidated variable interest entities	$	21,858	$	23,795	$	24,119

	Liabilities of consolidated variable interest entities included in total liabilities above
	Short-term borrowings	$	2,811	$	4,980	$	3,329
	Long-term debt	6,847		8,420		8,457
	All other liabilities	18		22		21
	Total liabilities of consolidated variable interest entities	$	9,676	$	13,422	$	11,807

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


Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	December 31 2025			September 30 2025			December 31 2024
Risk-based capital metrics (1, 2):
Standardized Approach
Common equity tier 1 capital	$	201,410		$	202,875		$	201,083
Tier 1 capital	227,382			228,829			223,458
Total capital	261,188			263,433			255,363
Risk-weighted assets	1,773,059			1,750,950			1,695,743
Common equity tier 1 capital ratio	11.4 %		%	11.6 %		%	11.9 %		%
Tier 1 capital ratio	12.8			13.1			13.2
Total capital ratio	14.7			15.0			15.1

Advanced Approaches
Common equity tier 1 capital	$	201,410		$	202,875		$	201,083
Tier 1 capital	227,382			228,829			223,458
Total capital	250,121			252,730			244,809
Risk-weighted assets	1,568,062			1,546,142			1,489,896
Common equity tier 1 capital ratio	12.8 %		%	13.1 %		%	13.5 %		%
Tier 1 capital ratio	14.5			14.8			15.0
Total capital ratio	16.0			16.3			16.4

Leverage-based metrics (1, 2):
Adjusted average assets	$	3,348,087		$	3,356,512		$	3,239,641
Tier 1 leverage ratio	6.8 %		%	6.8 %		%	6.9 %		%

Supplementary leverage exposure	$	3,985,596		$	3,976,630		$	3,818,346
Supplementary leverage ratio	5.7 %		%	5.8 %		%	5.9 %		%

Total ending equity to total ending assets ratio	8.9			8.9			9.0
Common equity ratio	8.1			8.1			8.3
Tangible equity ratio (3)	7.0			7.0			7.0
Tangible common equity ratio (3)	6.2			6.2			6.3

(1)Effective in the fourth quarter of 2025, the Corporation elected to change its accounting methods for certain tax-related equity investments and applied those changes retrospectively through cumulative adjustment to retained earnings. Under applicable bank regulatory rules, the Corporation is not required to revise previously-filed regulatory capital ratios and, accordingly, did not revise regulatory capital information as of September 30, 2025 or December 31, 2024.

(2)Regulatory capital ratios at December 31, 2025 are preliminary. The Corporation reports regulatory capital ratios under both the Standardized and Advanced approaches. Capital adequacy is evaluated against the lower of the Standardized or Advanced approaches compared to their respective regulatory capital ratio requirements. The Corporation’s binding ratio was the Total capital ratio under the Standardized approach for all periods presented.

(3)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 31.)

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


Bank of America Corporation and Subsidiaries
Capital Composition under Basel 3
(Dollars in millions)
	December 31 2025		September 30 2025		December 31 2024
Total common shareholders' equity	$	277,251	$	276,445	$	270,804
Impact of change in accounting method (1)	—		1,715		1,596
CECL transitional amount (2)	—		—		627
Goodwill, net of related deferred tax liabilities	(68,651)		(68,653)		(68,649)
Deferred tax assets arising from net operating loss and tax credit carryforwards	(8,761)		(8,483)		(8,097)
Intangibles, other than mortgage servicing rights, net of related deferred tax liabilities	(1,386)		(1,401)		(1,440)
Defined benefit pension plan net assets, net-of-tax	(868)		(838)		(786)
Cumulative unrealized net (gain) loss related to changes in fair value of financial liabilities attributable to own creditworthiness, net-of-tax	1,825		1,645		1,491
Accumulated net (gain) loss on certain cash flow hedges (3)	2,020		2,464		5,629
Other	(20)		(19)		(92)
Common equity tier 1 capital	201,410		202,875		201,083
Qualifying preferred stock, net of issuance cost	25,991		25,991		22,391
Other	(19)		(37)		(16)
Tier 1 capital	227,382		228,829		223,458
Tier 2 capital instruments	19,576		20,502		18,592
Qualifying allowance for credit losses (4)	14,431		14,420		13,558
Other	(201)		(318)		(245)
Total capital under the Standardized approach	261,188		263,433		255,363
Adjustment in qualifying allowance for credit losses under the Advanced approaches (4)	(11,067)		(10,703)		(10,554)
Total capital under the Advanced approaches	$	250,121	$	252,730	$	244,809

(1)Represents the decrease in retained earnings due to the Corporation's election to change accounting methods for certain tax-related equity investments in the fourth quarter of 2025. Under applicable bank regulatory rules, the Corporation is not required to revise previously-filed regulatory capital ratios and, accordingly, did not revise regulatory capital information as of September 30, 2025 or December 31, 2024.

(2)December 31, 2024 includes 25 percent of the current expected credit losses (CECL) transition provision’s impact as of December 31, 2021. As of January 1, 2025, CECL transition provision’s impact was fully phased-in.

(3)Includes amounts in accumulated other comprehensive income related to the hedging of items that are not recognized at fair value on the Consolidated Balance Sheet.

(4)December 31, 2024 includes the impact of transition provisions related to the CECL accounting standard.

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


Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Fourth Quarter 2025						Third Quarter 2025						Fourth Quarter 2024
	Average Balance		Interest Income/ Expense (1)		Yield/ Rate		Average Balance		Interest Income/ Expense (1)		Yield/ Rate		Average Balance		Interest Income/ Expense (1)		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	231,494	$	2,142	3.67 %	%	$	264,233	$	2,698	4.05 %	%	$	319,203	$	3,648	4.55 %	%
Time deposits placed and other short-term investments	10,277		85		3.31		9,716		88		3.59		9,824		112		4.54
Federal funds sold and securities borrowed or purchased under agreements to resell	321,873		3,763		4.64		316,603		3,802		4.76		296,204		4,381		5.88
Trading account assets	238,209		3,009		5.01		239,048		3,222		5.35		210,380		2,703		5.11
Debt securities	933,012		6,773		2.88		932,588		6,975		2.97		895,903		6,734		2.99
Loans and leases (2)
Residential mortgage	235,813		2,076		3.52		235,301		2,070		3.52		227,990		1,892		3.32
Home equity	26,798		377		5.59		26,413		390		5.86		25,767		394		6.09
Credit card	102,992		2,902		11.18		100,966		2,932		11.52		100,938		2,903		11.44

Direct/Indirect and other consumer	112,803		1,519		5.34		110,127		1,525		5.49		106,379		1,490		5.57

Total consumer	478,406		6,874		5.71		472,807		6,917		5.82		461,074		6,679		5.77
U.S. commercial	455,781		5,934		5.17		443,274		5,953		5.33		404,606		5,541		5.45
Non-U.S. commercial	152,913		2,038		5.29		154,458		2,121		5.45		132,833		2,187		6.55
Commercial real estate	67,312		1,005		5.93		66,494		1,044		6.23		67,064		1,129		6.69
Commercial lease financing	16,483		225		5.46		16,002		216		5.37		15,432		209		5.39
Total commercial	692,489		9,202		5.27		680,228		9,334		5.45		619,935		9,066		5.82
Total loans and leases	1,170,895		16,076		5.45		1,153,035		16,251		5.60		1,081,009		15,745		5.80
Other earning assets	133,120		2,578		7.68		124,965		2,484		7.89		116,207		2,808		9.61
Total earning assets	3,038,880		34,426		4.50		3,040,188		35,520		4.64		2,928,730		36,131		4.91
Cash and due from banks	25,668						24,963						24,354
Other assets, less allowance for loan and lease losses	363,243						368,296						362,494
Total assets	$	3,427,791					$	3,433,447					$	3,315,578
Interest-bearing liabilities
U.S. interest-bearing deposits

Demand and money market deposits	$	1,107,741	$	5,508	1.97 %	%	$	1,095,931	$	6,063	2.19 %	%	$	1,069,361	$	6,153	2.29 %	%

Time and savings deposits	254,150		1,846		2.88		257,475		1,941		2.99		260,825		2,266		3.46
Total U.S. interest-bearing deposits	1,361,891		7,354		2.14		1,353,406		8,004		2.35		1,330,186		8,419		2.52




Non-U.S. interest-bearing deposits	129,717		914		2.80		125,309		928		2.94		115,503		1,105		3.81
Total interest-bearing deposits	1,491,608		8,268		2.20		1,478,715		8,932		2.40		1,445,689		9,524		2.62
Federal funds purchased and securities loaned or sold under agreements to repurchase	351,973		4,197		4.73		392,431		4,800		4.85		363,419		5,387		5.90
Short-term borrowings and other interest-bearing liabilities	181,742		2,275		4.97		178,368		2,372		5.28		155,956		2,606		6.65
Trading account liabilities	47,160		602		5.06		52,452		672		5.08		50,873		567		4.44
Long-term debt	245,470		3,169		5.14		247,425		3,357		5.40		238,988		3,534		5.90
Total interest-bearing liabilities	2,317,953		18,511		3.17		2,349,391		20,133		3.40		2,254,925		21,618		3.82
Noninterest-bearing sources
Noninterest-bearing deposits	520,915						512,719						512,261
Other liabilities (3)	285,050						270,956						254,994
Shareholders’ equity	303,873						300,381						293,398
Total liabilities and shareholders’ equity	$	3,427,791					$	3,433,447					$	3,315,578
Net interest spread					1.33 %	%					1.24 %	%					1.09 %	%
Impact of noninterest-bearing sources					0.75						0.77						0.88
Net interest income/yield on earning assets (4)			$	15,915	2.08 %	%			$	15,387	2.01 %	%			$	14,513	1.97 %	%

(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 $72.8 billion, $66.2 billion and $53.0 billion of structured notes and liabilities for the fourth and third quarters of 2025 and the fourth quarter of 2024, respectively.

(4)Net interest income includes FTE adjustments of $165 million, $154 million and $154 million for the fourth and third quarters of 2025 and the fourth quarter of 2024, respectively.

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


Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
	December 31, 2025
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	34,240	$	80	$	(1,179)	$	33,141
Agency-collateralized mortgage obligations	19,304		27		(132)		19,199
Commercial	38,688		191		(385)		38,494
Non-agency residential	273		55		(56)		272
Total mortgage-backed securities	92,505		353		(1,752)		91,106
U.S. Treasury and government agencies	250,065		390		(621)		249,834
Non-U.S. securities	31,765		20		(18)		31,767
Other taxable securities	6,328		12		(36)		6,304

Tax-exempt securities	7,948		15		(176)		7,787
Total available-for-sale debt securities	388,611		790		(2,603)		386,798
Other debt securities carried at fair value (1)	16,066		200		(89)		16,177
Total debt securities carried at fair value	404,677		990		(2,692)		402,975
Held-to-maturity debt securities
Agency mortgage-backed securities	395,415		—		(67,309)		328,106
U.S. Treasury and government agencies	121,242		—		(12,225)		109,017
Other taxable securities	6,028		2		(723)		5,307
Total held-to-maturity debt securities	522,685		2		(80,257)		442,430
Total debt securities	$	927,362	$	992	$	(82,949)	$	845,405


	September 30, 2025
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	33,308	$	15	$	(1,383)	$	31,940
Agency-collateralized mortgage obligations	20,418		14		(150)		20,282
Commercial	32,335		112		(424)		32,023
Non-agency residential	275		54		(54)		275
Total mortgage-backed securities	86,336		195		(2,011)		84,520
U.S. Treasury and government agencies	267,405		198		(970)		266,633
Non-U.S. securities	28,045		45		(13)		28,077
Other taxable securities	3,093		10		(29)		3,074

Tax-exempt securities	8,145		19		(175)		7,989
Total available-for-sale debt securities	393,024		467		(3,198)		390,293
Other debt securities carried at fair value (1)	14,272		162		(91)		14,343
Total debt securities carried at fair value	407,296		629		(3,289)		404,636
Held-to-maturity debt securities
Agency mortgage-backed securities	403,854		—		(71,037)		332,817
U.S. Treasury and government agencies	121,232		—		(13,093)		108,139
Other taxable securities	6,363		2		(777)		5,588
Total held-to-maturity debt securities	531,449		2		(84,907)		446,544
Total debt securities	$	938,745	$	631	$	(88,196)	$	851,180

(1) Primarily includes non-U.S. securities used to satisfy certain international regulatory requirements.

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


Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)

	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024






FTE basis data (1)
Net interest income	$	60,705		$	56,679		$	15,915		$	15,387		$	14,815		$	14,588		$	14,513
Total revenue, net of interest expense	113,706			106,475			28,532			29,194			27,588			28,392			26,629
Net interest yield	2.01 %		%	1.95 %		%	2.08 %		%	2.01 %		%	1.94 %		%	1.99 %		%	1.97 %		%
Efficiency ratio	61.32			62.75			61.11			59.39			62.28			62.59			63.04

(1)FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. Net interest income includes FTE adjustments of $609 million and $619 million for the years ended December 31, 2025 and 2024, and $165 million, $154 million, $145 million, $145 million and $154 million for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, respectively.

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


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Fourth Quarter 2025
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	15,915	$	9,090	$	1,870	$	3,238	$	1,750	$	(33)
Noninterest income
Fees and commissions:
Card income	1,566		1,341		7		203		15		—
Service charges	1,649		638		29		885		97		—
Investment and brokerage services	5,300		98		4,563		14		628		(3)
Investment banking fees	1,666		—		69		973		656		(32)
Total fees and commissions	10,181		2,077		4,668		2,075		1,396		(35)
Market making and similar activities	2,074		7		34		67		2,001		(35)
Other income (loss)	362		27		46		858		157		(726)
Total noninterest income (loss)	12,617		2,111		4,748		3,000		3,554		(796)
Total revenue, net of interest expense	28,532		11,201		6,618		6,238		5,304		(829)
Provision for credit losses	1,308		1,066		(3)		243		12		(10)
Noninterest expense	17,437		5,729		4,747		3,118		3,906		(63)
Income (loss) before income taxes	9,787		4,406		1,874		2,877		1,386		(756)
Income tax expense (benefit)	2,140		1,102		469		791		402		(624)
Net income (loss)	$	7,647	$	3,304	$	1,405	$	2,086	$	984	$	(132)

Average
Total loans and leases	$	1,170,895	$	322,678	$	256,968	$	386,319	$	197,822	$	7,108
Total assets (1)	3,427,791		1,027,783		324,446		754,999		1,026,282		294,281
Total deposits	2,012,523		945,394		279,456		656,120		37,875		93,678
Period end
Total loans and leases	$	1,185,700	$	325,871	$	261,303	$	388,998	$	202,733	$	6,795
Total assets (1)	3,410,394		1,039,346		335,495		734,710		1,032,858		267,985
Total deposits	2,018,729		956,265		289,854		641,211		40,614		90,785

	Third Quarter 2025
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	15,387	$	8,988	$	1,800	$	3,141	$	1,484	$	(26)
Noninterest income
Fees and commissions:
Card income	1,629		1,403		6		204		17		(1)
Service charges	1,632		645		30		863		93		1
Investment and brokerage services	5,063		94		4,334		24		614		(3)
Investment banking fees	2,013		—		65		1,155		834		(41)
Total fees and commissions	10,337		2,142		4,435		2,246		1,558		(44)
Market making and similar activities	3,203		5		31		73		3,141		(47)
Other income (loss)	267		31		46		729		42		(581)
Total noninterest income (loss)	13,807		2,178		4,512		3,048		4,741		(672)
Total revenue, net of interest expense	29,194		11,166		6,312		6,189		6,225		(698)
Provision for credit losses	1,295		1,009		4		269		9		4
Noninterest expense	17,337		5,575		4,622		3,044		3,895		201
Income (loss) before income taxes	10,562		4,582		1,686		2,876		2,321		(903)
Income tax expense (benefit)	2,230		1,145		421		791		673		(800)
Net income (loss)	$	8,332	$	3,437	$	1,265	$	2,085	$	1,648	$	(103)

Average
Total loans and leases	$	1,153,035	$	320,297	$	245,523	$	388,482	$	190,994	$	7,739
Total assets (1)	3,433,447		1,029,529		320,484		730,206		1,024,300		328,928
Total deposits	1,991,434		947,414		276,534		631,560		37,588		98,338
Period end
Total loans and leases	$	1,165,900	$	321,905	$	252,986	$	386,828	$	196,759	$	7,422
Total assets (1)	3,403,149		1,032,826		325,605		737,640		997,908		309,170
Total deposits	2,002,208		949,100		278,931		640,801		36,883		96,493

(1)Total assets include asset allocations to match liabilities (i.e., deposits).

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


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Fourth Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	14,513	$	8,485	$	1,753	$	3,270	$	1,026	$	(21)
Noninterest income
Fees and commissions:
Card income	1,622		1,397		13		200		15		(3)
Service charges	1,554		622		26		808		97		1
Investment and brokerage services	4,713		84		4,057		21		555		(4)
Investment banking fees	1,654		—		62		985		639		(32)
Total fees and commissions	9,543		2,103		4,158		2,014		1,306		(38)
Market making and similar activities	2,503		5		36		63		2,381		18
Other income (loss)	70		53		55		749		125		(912)
Total noninterest income (loss)	12,116		2,161		4,249		2,826		3,812		(932)
Total revenue, net of interest expense	26,629		10,646		6,002		6,096		4,838		(953)
Provision for credit losses	1,452		1,254		3		190		10		(5)
Noninterest expense	16,787		5,631		4,438		2,951		3,505		262
Income (loss) before income taxes	8,390		3,761		1,561		2,955		1,323		(1,210)
Income tax expense (benefit)	1,584		940		390		812		384		(942)
Net income (loss)	$	6,806	$	2,821	$	1,171	$	2,143	$	939	$	(268)

Average
Total loans and leases	$	1,081,009	$	316,069	$	228,779	$	375,345	$	152,426	$	8,390
Total assets (1)	3,315,578		1,023,388		329,164		678,826		918,582		365,618
Total deposits	1,957,950		942,302		285,023		581,950		36,958		111,717
Period end
Total loans and leases	$	1,095,835	$	318,754	$	231,981	$	379,473	$	157,450	$	8,177
Total assets (1)	3,261,299		1,034,370		338,367		670,505		876,548		341,509
Total deposits	1,965,467		952,311		292,278		578,159		38,848		103,871

(1)Total assets include asset allocations to match liabilities (i.e., deposits).

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


Bank of America Corporation and Subsidiaries
Annual Results by Business Segment and All Other
(Dollars in millions)
	Year Ended December 31, 2025
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	60,705	$	35,309	$	7,197	$	12,611	$	5,690	$	(102)
Noninterest income
Fees and commissions:
Card income	6,359		5,456		33		816		65		(11)
Service charges	6,457		2,528		114		3,438		373		4
Investment and brokerage services	19,956		360		17,019		79		2,511		(13)
Investment banking fees	6,630		—		268		3,742		2,837		(217)
Total fees and commissions	39,402		8,344		17,434		8,075		5,786		(237)
Market making and similar activities	12,014		26		127		274		12,064		(477)
Other income (loss)	1,585		(6)		125		3,148		556		(2,238)
Total noninterest income (loss)	53,001		8,364		17,686		11,497		18,406		(2,952)
Total revenue, net of interest expense	113,706		43,673		24,883		24,108		24,096		(3,054)
Provision for credit losses	5,675		4,649		35		943		71		(23)
Noninterest expense	69,727		22,697		18,621		12,416		15,418		575
Income (loss) before income taxes	38,304		16,327		6,227		10,749		8,607		(3,606)
Income tax expense (benefit)	7,795		4,082		1,557		2,956		2,496		(3,296)
Net income (loss)	$	30,509	$	12,245	$	4,670	$	7,793	$	6,111	$	(310)

Average
Total loans and leases	$	1,136,787	$	319,312	$	243,123	$	385,379	$	181,334	$	7,639
Total assets (1)	3,410,412		1,030,094		323,914		715,866		1,010,898		329,640
Total deposits	1,984,182		948,078		279,776		616,831		38,074		101,423
Year end
Total loans and leases	$	1,185,700	$	325,871	$	261,303	$	388,998	$	202,733	$	6,795
Total assets (1)	3,410,394		1,039,346		335,495		734,710		1,032,858		267,985
Total deposits	2,018,729		956,265		289,854		641,211		40,614		90,785

	Year Ended December 31, 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	56,679	$	33,078	$	6,969	$	13,235	$	3,375	$	22
Noninterest income
Fees and commissions:
Card income	6,284		5,432		41		786		66		(41)
Service charges	6,055		2,445		97		3,135		375		3
Investment and brokerage services	17,766		320		15,238		91		2,128		(11)
Investment banking fees	6,186		—		246		3,453		2,655		(168)
Total fees and commissions	36,291		8,197		15,622		7,465		5,224		(217)
Market making and similar activities	12,967		21		143		275		12,778		(250)
Other income (loss)	538		140		195		2,773		435		(3,005)
Total noninterest income (loss)	49,796		8,358		15,960		10,513		18,437		(3,472)
Total revenue, net of interest expense	106,475		41,436		22,929		23,748		21,812		(3,450)
Provision for credit losses	5,821		4,987		4		883		(32)		(21)
Noninterest expense	66,812		22,104		17,241		11,853		13,926		1,688
Income (loss) before income taxes	33,842		14,345		5,684		11,012		7,918		(5,117)
Income tax expense (benefit)	6,869		3,586		1,421		3,028		2,296		(3,462)
Net income (loss)	$	26,973	$	10,759	$	4,263	$	7,984	$	5,622	$	(1,655)

Average
Total loans and leases	$	1,060,081	$	313,792	$	223,899	$	373,227	$	140,557	$	8,606
Total assets (1)	3,282,045		1,026,310		331,014		643,337		911,657		369,727
Total deposits	1,924,106		945,549		287,491		545,769		34,120		111,177
Year end
Total loans and leases	$	1,095,835	$	318,754	$	231,981	$	379,473	$	157,450	$	8,177
Total assets (1)	3,261,299		1,034,370		338,367		670,505		876,548		341,509
Total deposits	1,965,467		952,311		292,278		578,159		38,848		103,871

(1)Total assets include asset allocations to match liabilities (i.e., deposits).

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


Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Net interest income	$	35,309		$	33,078		$	9,090		$	8,988		$	8,726		$	8,505		$	8,485
Noninterest income:
Card income	5,456			5,432			1,341			1,403			1,415			1,297			1,397
Service charges	2,528			2,445			638			645			627			618			622

All other income	380			481			132			130			45			73			142
Total noninterest income	8,364			8,358			2,111			2,178			2,087			1,988			2,161
Total revenue, net of interest expense	43,673			41,436			11,201			11,166			10,813			10,493			10,646

Provision for credit losses	4,649			4,987			1,066			1,009			1,282			1,292			1,254

Noninterest expense	22,697			22,104			5,729			5,575			5,567			5,826			5,631
Income before income taxes	16,327			14,345			4,406			4,582			3,964			3,375			3,761
Income tax expense	4,082			3,586			1,102			1,145			991			844			940
Net income	$	12,245		$	10,759		$	3,304		$	3,437		$	2,973		$	2,531		$	2,821

Net interest yield	3.56 %		%	3.34 %		%	3.64 %		%	3.59 %		%	3.51 %		%	3.48 %		%	3.42 %		%
Efficiency ratio	51.97			53.35			51.15			49.92			51.48			55.53			52.89
Return on average allocated capital (1)	28			25			30			31			27			23			26

Balance Sheet
Average
Total loans and leases	$	319,312		$	313,792		$	322,678		$	320,297		$	319,142		$	315,038		$	316,069
Total earning assets (2)	992,579			988,950			989,897			992,007			996,193			992,252			985,990
Total assets (2)	1,030,094			1,026,310			1,027,783			1,029,529			1,033,776			1,029,320			1,023,388
Total deposits	948,078			945,549			945,394			947,414			951,986			947,550			942,302
Allocated capital (1)	44,000			43,250			44,000			44,000			44,000			44,000			43,250

Period end
Total loans and leases	$	325,871		$	318,754		$	325,871		$	321,905		$	320,908		$	318,337		$	318,754
Total earning assets (2)	998,969			995,369			998,969			994,931			999,094			1,016,785			995,369
Total assets (2)	1,039,346			1,034,370			1,039,346			1,032,826			1,037,407			1,054,637			1,034,370
Total deposits	956,265			952,311			956,265			949,100			954,373			972,064			952,311

(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.

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


Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Average deposit balances
Checking	$	554,064		$	546,849		$	555,202		$	553,438		$	556,030		$	551,555		$	547,060
Savings	52,179			55,147			50,843			51,840			53,077			52,985			52,812
MMS	235,217			253,340			228,437			232,892			238,285			241,423			242,257
CDs and IRAs	103,027			86,535			107,364			105,633			100,957			98,023			96,630
Other	3,591			3,678			3,548			3,611			3,637			3,564			3,543
Total average deposit balances	$	948,078		$	945,549		$	945,394		$	947,414		$	951,986		$	947,550		$	942,302

Deposit spreads (excludes noninterest costs)
Checking	2.92 %		%	2.65 %		%	3.02 %		%	2.96 %		%	2.90 %		%	2.81 %		%	2.75 %		%
Savings	3.24			2.93			3.33			3.28			3.21			3.13			3.05
MMS	3.48			3.28			3.56			3.52			3.45			3.38			3.32
CDs and IRAs	1.41			1.87			1.25			1.37			1.49			1.57			1.63
Other	4.21			4.97			4.27			4.13			4.18			4.26			4.43
Total deposit spreads	2.92			2.77			2.97			2.94			2.91			2.85			2.81

Consumer investment assets (1)	$	599,110		$	517,835		$	599,110		$	580,391		$	539,727		$	497,680		$	517,835

Active digital banking users (in thousands) (2)	49,323			48,150			49,323			49,198			48,998			49,028			48,150
Active mobile banking users (in thousands) (3)	41,427			39,958			41,427			41,258			40,840			40,492			39,958
Financial centers	3,628			3,700			3,628			3,649			3,664			3,681			3,700
ATMs	14,909			14,893			14,909			14,920			14,904			14,866			14,893

Total credit card (4)
Loans
Average credit card outstandings	$	101,043		$	99,914		$	102,992		$	100,966		$	100,013		$	100,173		$	100,938
Ending credit card outstandings	106,027			103,566			106,027			102,109			101,209			99,731			103,566
Credit quality
Net charge-offs	$	3,717		$	3,745		$	882		$	880		$	954		$	1,001		$	963
	3.68 %		%	3.75 %		%	3.40 %		%	3.46 %		%	3.82 %		%	4.05 %		%	3.79 %		%
30+ delinquency	$	2,604		$	2,638		$	2,604		$	2,464		$	2,388		$	2,497		$	2,638
	2.46 %		%	2.55 %		%	2.46 %		%	2.41 %		%	2.36 %		%	2.50 %		%	2.55 %		%
90+ delinquency	$	1,352		$	1,401		$	1,352		$	1,259		$	1,257		$	1,334		$	1,401
	1.27 %		%	1.35 %		%	1.27 %		%	1.23 %		%	1.24 %		%	1.34 %		%	1.35 %		%
Other total credit card indicators (4)
Gross interest yield	12.02 %		%	12.30 %		%	11.76 %		%	12.17 %		%	12.06 %		%	12.12 %		%	12.15 %		%
Risk-adjusted margin	7.06			6.98			7.02			7.48			7.07			6.68			7.12
New accounts (in thousands)	3,531			3,820			855			929			834			913			901
Purchase volumes	$	377,760		$	368,861		$	99,622		$	95,116		$	94,814		$	88,208		$	95,962

Debit card data
Purchase volumes	$	594,603		$	557,000		$	155,070		$	150,048		$	149,288		$	140,197		$	144,895

Loan production (5)
Consumer Banking:
First mortgage	$	12,137		$	10,252		$	4,176		$	3,052		$	3,052		$	1,857		$	3,184
Home equity	8,560			7,450			2,159			2,326			2,241			1,834			1,926
Total (6):
First mortgage	$	26,326		$	21,104		$	8,463		$	6,751		$	6,604		$	4,508		$	6,585
Home equity	10,400			8,884			2,620			2,800			2,766			2,214			2,311

(1) Includes client brokerage assets, deposit sweep balances, brokered certificates of deposit (CDs), and assets under management (AUM) in Consumer Banking.

(2) Represents mobile and/or online active users over the past 90 days.

(3) Represents mobile active users over the past 90 days.

(4) In addition to the credit card portfolio in Consumer Banking, the remaining credit card portfolio is in GWIM.

(5) 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.

(6) In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

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


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Net interest income	$	7,197		$	6,969		$	1,870		$	1,800		$	1,762		$	1,765		$	1,753
Noninterest income:
Investment and brokerage services	17,019			15,238			4,563			4,334			4,033			4,089			4,057
All other income	667			722			185			178			142			162			192
Total noninterest income	17,686			15,960			4,748			4,512			4,175			4,251			4,249
Total revenue, net of interest expense	24,883			22,929			6,618			6,312			5,937			6,016			6,002

Provision for credit losses	35			4			(3)			4			20			14			3

Noninterest expense	18,621			17,241			4,747			4,622			4,593			4,659			4,438
Income before income taxes	6,227			5,684			1,874			1,686			1,324			1,343			1,561
Income tax expense	1,557			1,421			469			421			331			336			390
Net income	$	4,670		$	4,263		$	1,405		$	1,265		$	993		$	1,007		$	1,171

Net interest yield	2.32 %		%	2.20 %		%	2.39 %		%	2.33 %		%	2.31 %		%	2.26 %		%	2.21 %		%
Efficiency ratio	74.84			75.19			71.75			73.22			77.36			77.44			73.93

Return on average allocated capital (1)	24			23			28			26			20			21			25

Balance Sheet
Average
Total loans and leases	$	243,123		$	223,899		$	256,968		$	245,523		$	237,377		$	232,326		$	228,779
Total earning assets (2)	309,890			317,283			309,916			306,384			306,490			316,887			315,071
Total assets (2)	323,914			331,014			324,446			320,484			320,224			330,607			329,164
Total deposits	279,776			287,491			279,456			276,534			276,825			286,399			285,023
Allocated capital (1)	19,750			18,500			19,750			19,750			19,750			19,750			18,500


Period end
Total loans and leases	$	261,303		$	231,981		$	261,303		$	252,986		$	241,142		$	234,304		$	231,981
Total earning assets (2)	320,899			323,496			320,899			310,732			305,793			315,663			323,496
Total assets (2)	335,495			338,367			335,495			325,605			320,820			329,816			338,367
Total deposits	289,854			292,278			289,854			278,931			275,778			285,063			292,278

(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.

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


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Revenue by Business
Merrill Wealth Management	$	20,716	$	19,066	$	5,494	$	5,261	$	4,942	$	5,019	$	5,007
Bank of America Private Bank	4,167		3,863		1,124		1,051		995		997		995

Total revenue, net of interest expense	$	24,883	$	22,929	$	6,618	$	6,312	$	5,937	$	6,016	$	6,002

Client Balances by Business, at period end
Merrill Wealth Management	$	3,992,312	$	3,578,513	$	3,992,312	$	3,896,124	$	3,695,213	$	3,486,594	$	3,578,513
Bank of America Private Bank	759,082		673,593		759,082		744,675		700,018		670,600		673,593

Total client balances	$	4,751,394	$	4,252,106	$	4,751,394	$	4,640,799	$	4,395,231	$	4,157,194	$	4,252,106

Client Balances by Type, at period end


Assets under management (1)	$	2,177,708	$	1,882,211	$	2,177,708	$	2,109,946	$	1,986,523	$	1,855,657	$	1,882,211
Brokerage and other assets	2,067,937		1,888,334		2,067,937		2,040,748		1,932,182		1,821,203		1,888,334

Deposits	289,854		292,278		289,854		278,931		275,778		285,063		292,278
Loans and leases (2)	263,819		234,208		263,819		255,381		243,409		236,641		234,208
Less: Managed deposits in assets under management	(47,924)		(44,925)		(47,924)		(44,207)		(42,661)		(41,370)		(44,925)
Total client balances	$	4,751,394	$	4,252,106	$	4,751,394	$	4,640,799	$	4,395,231	$	4,157,194	$	4,252,106

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,882,211	$	1,617,740	$	2,109,946	$	1,986,523	$	1,855,657	$	1,882,211	$	1,861,124
Net client flows	81,997		79,227		20,209		23,517		14,314		23,957		22,493

Market valuation/other	213,500		185,244		47,553		99,906		116,552		(50,511)		(1,406)
Total assets under management, ending balance	$	2,177,708	$	1,882,211	$	2,177,708	$	2,109,946	$	1,986,523	$	1,855,657	$	1,882,211

(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.

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


Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Net interest income	$	12,611		$	13,235		$	3,238		$	3,141		$	3,081		$	3,151		$	3,270
Noninterest income:
Service charges	3,438			3,135			885			863			864			826			808
Investment banking fees	3,742			3,453			973			1,155			767			847			985
All other income	4,317			3,925			1,142			1,030			977			1,168			1,033
Total noninterest income	11,497			10,513			3,000			3,048			2,608			2,841			2,826
Total revenue, net of interest expense	24,108			23,748			6,238			6,189			5,689			5,992			6,096

Provision for credit losses	943			883			243			269			277			154			190

Noninterest expense	12,416			11,853			3,118			3,044			3,070			3,184			2,951
Income before income taxes	10,749			11,012			2,877			2,876			2,342			2,654			2,955
Income tax expense	2,956			3,028			791			791			644			730			812
Net income	$	7,793		$	7,984		$	2,086		$	2,085		$	1,698		$	1,924		$	2,143

Net interest yield	1.94 %		%	2.29 %		%	1.86 %		%	1.87 %		%	1.94 %		%	2.10 %		%	2.12 %		%
Efficiency ratio	51.51			49.91			50.01			49.16			53.98			53.14			48.39
Return on average allocated capital (1)	15			16			16			16			13			15			17

Balance Sheet
Average
Total loans and leases	$	385,379		$	373,227		$	386,319		$	388,482		$	387,864		$	378,733		$	375,345
Total earning assets (2)	650,829			577,481			690,069			665,143			638,259			608,793			613,204
Total assets (2)	715,866			643,337			754,999			730,206			703,326			673,883			678,826
Total deposits	616,831			545,769			656,120			631,560			603,410			575,185			581,950
Allocated capital (1)	50,750			49,250			50,750			50,750			50,750			50,750			49,250

Period end
Total loans and leases	$	388,998		$	379,473		$	388,998		$	386,828		$	390,691		$	384,208		$	379,473
Total earning assets (2)	671,354			605,499			671,354			671,971			673,069			622,078			605,499
Total assets (2)	734,710			670,505			734,710			737,640			739,214			687,169			670,505
Total deposits	641,211			578,159			641,211			640,801			643,529			591,619			578,159

(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.

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


Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Investment Banking fees (1)
Advisory (2)	$	1,707		$	1,504		$	541		$	536		$	291		$	339		$	514
Debt issuance	1,548			1,398			321			472			346			409			320
Equity issuance	487			551			111			147			130			99			151
Total Investment Banking fees (3)	$	3,742		$	3,453		$	973		$	1,155		$	767		$	847		$	985

Business Lending
Corporate	$	4,031		$	4,339		$	1,031		$	1,045		$	1,006		$	949		$	1,015
Commercial	4,566			4,941			1,181			1,135			1,141			1,109			1,280
Business Banking	216			231			51			56			55			54			57
Total Business Lending revenue	$	8,813		$	9,511		$	2,263		$	2,236		$	2,202		$	2,112		$	2,352

Global Transaction Services
Corporate	$	5,299		$	5,125		$	1,415		$	1,326		$	1,270		$	1,288		$	1,286
Commercial	4,224			3,906			1,131			1,043			1,018			1,032			1,030
Business Banking	1,488			1,474			397			370			361			360			382
Total Global Transaction Services revenue	$	11,011		$	10,505		$	2,943		$	2,739		$	2,649		$	2,680		$	2,698

Average deposit balances
Interest-bearing	$	465,720		$	387,750		$	502,455		$	483,285		$	453,768		$	422,300		$	425,165
Noninterest-bearing	151,111			158,019			153,665			148,275			149,642			152,885			156,785
Total average deposits	$	616,831		$	545,769		$	656,120		$	631,560		$	603,410		$	575,185		$	581,950



Provision for credit losses	$	943		$	883		$	243		$	269		$	277		$	154		$	190

Credit quality (4, 5)
Reservable criticized utilized exposure	$	21,010		$	23,574		$	21,010		$	22,637		$	24,298		$	24,446		$	23,574
	5.11 %		%	5.90 %		%	5.11 %		%	5.55 %		%	5.90 %		%	6.04 %		%	5.90 %		%

Nonperforming loans, leases and foreclosed properties	$	2,620		$	2,970		$	2,620		$	2,395		$	3,114		$	2,987		$	2,970
	0.68 %		%	0.79 %		%	0.68 %		%	0.62 %		%	0.80 %		%	0.78 %		%	0.79 %		%

Average loans and leases by product
U.S. commercial	$	241,271		$	229,824		$	242,890		$	244,131		$	242,431		$	235,518		$	234,533
Non-U.S. commercial	79,249			74,551			78,363			79,811			80,672			78,141			74,632
Commercial real estate	48,474			53,437			48,313			48,256			48,397			48,939			50,452
Commercial lease financing	16,384			15,413			16,752			16,282			16,364			16,135			15,727
Other	1			2			1			2			—			—			1
Total average loans and leases	$	385,379		$	373,227		$	386,319		$	388,482		$	387,864		$	378,733		$	375,345

Total Corporation Investment Banking fees
Advisory (2)	$	1,890		$	1,690		$	590		$	583		$	333		$	384		$	556
Debt issuance	3,698			3,310			810			1,109			837			942			765
Equity issuance	1,259			1,354			297			362			328			272			364
Total investment banking fees including self-led deals	6,847			6,354			1,697			2,054			1,498			1,598			1,685
Self-led deals	(217)			(168)			(31)			(41)			(70)			(75)			(31)
Total Investment Banking fees	$	6,630		$	6,186		$	1,666		$	2,013		$	1,428		$	1,523		$	1,654

(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 calculated as nonperforming assets divided by loans, leases and foreclosed properties.

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


Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2025			Third Quarter 2025			Second Quarter 2025			First Quarter 2025			Fourth Quarter 2024
	2025			2024
Net interest income	$	5,690		$	3,375		$	1,750		$	1,484		$	1,267		$	1,189		$	1,026
Noninterest income:
Investment and brokerage services	2,511			2,128			628			614			642			627			555
Investment banking fees	2,837			2,655			656			834			666			681			639
Market making and similar activities	12,064			12,778			2,001			3,141			3,300			3,622			2,381
All other income	994			876			269			152			107			466			237
Total noninterest income	18,406			18,437			3,554			4,741			4,715			5,396			3,812
Total revenue, net of interest expense (1)	24,096			21,812			5,304			6,225			5,982			6,585			4,838

Provision for credit losses	71			(32)			12			9			22			28			10

Noninterest expense	15,418			13,926			3,906			3,895			3,806			3,811			3,505
Income before income taxes	8,607			7,918			1,386			2,321			2,154			2,746			1,323
Income tax expense	2,496			2,296			402			673			625			796			384
Net income	$	6,111		$	5,622		$	984		$	1,648		$	1,529		$	1,950		$	939

Efficiency ratio	63.99 %		%	63.85 %		%	73.64 %		%	62.58 %		%	63.61 %		%	57.88 %		%	72.43 %		%

Return on average allocated capital (2)	13			12			8			13			13			16			8

Balance Sheet
Average
Total trading-related assets	$	677,963		$	634,020		$	666,609		$	676,621		$	700,413		$	668,237		$	620,903
Total loans and leases	181,334			140,557			197,822			190,994			176,368			159,625			152,426
Total earning assets	806,901			710,604			820,324			813,197			825,835			767,592			714,762
Total assets	1,010,898			911,657			1,026,282			1,024,300			1,022,955			969,282			918,582
Total deposits	38,074			34,120			37,875			37,588			38,040			38,809			36,958
Allocated capital (2)	49,000			45,500			49,000			49,000			49,000			49,000			45,500


Period end
Total trading-related assets	$	670,949		$	580,557		$	670,949		$	638,176		$	670,649		$	660,267		$	580,557
Total loans and leases	202,733			157,450			202,733			196,759			187,357			166,348			157,450
Total earning assets	814,196			687,678			814,196			793,246			806,289			761,826			687,678
Total assets	1,032,858			876,548			1,032,858			997,908			1,017,594			959,477			876,548
Total deposits	40,614			38,848			40,614			36,883			38,232			38,268			38,848

Trading-related assets (average)
Trading account securities	$	352,548		$	324,065		$	357,802		$	361,610		$	343,971		$	346,590		$	326,572
Reverse repurchases	145,925			137,052			132,317			138,908			169,064			143,605			123,473
Securities borrowed	138,791			135,108			135,904			135,615			146,889			136,800			132,334
Derivative assets	40,699			37,795			40,586			40,488			40,489			41,242			38,524
Total trading-related assets	$	677,963		$	634,020		$	666,609		$	676,621		$	700,413		$	668,237		$	620,903

(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 21.

(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.

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


Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	12,267	$	11,371	$	2,501	$	3,092	$	3,195	$	3,479	$	2,462
Equities	8,604		7,436		2,015		2,270		2,133		2,186		1,642
Total sales and trading revenue	$	20,871	$	18,807	$	4,516	$	5,362	$	5,328	$	5,665	$	4,104

Sales and trading revenue, excluding net debit valuation adjustment (2,3)
Fixed-income, currencies and commodities	$	12,308	$	11,468	$	2,517	$	3,078	$	3,249	$	3,464	$	2,480
Equities	8,598		7,452		2,016		2,270		2,130		2,182		1,643
Total sales and trading revenue, excluding net debit valuation adjustment	$	20,906	$	18,920	$	4,533	$	5,348	$	5,379	$	5,646	$	4,123

Sales and trading revenue breakdown
Net interest income	$	5,105	$	2,744	$	1,612	$	1,340	$	1,119	$	1,034	$	876
Commissions	2,510		2,126		628		614		642		626		554
Trading	12,062		12,776		2,001		3,140		3,299		3,622		2,381
Other	1,194		1,161		275		268		268		383		293
Total sales and trading revenue	$	20,871	$	18,807	$	4,516	$	5,362	$	5,328	$	5,665	$	4,104

(1) Includes Global Banking sales and trading revenue of $530 million and $677 million for the years ended December 31, 2025 and 2024, and $183 million, $172 million, $212 million, $(37) million and $182 million for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, 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 $(35) million and $(113) million for the years ended December 31, 2025 and 2024, and $(17) million, $14 million, $(51) million, $19 million and $(19) million for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, respectively. FICC net DVA gains (losses) were $(41) million and $(97) million for the years ended December 31, 2025 and 2024, and $(16) million, $14 million, $(54) million, $15 million and $(18) million for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, respectively. Equities net DVA gains (losses) were $6 million and $(16) million for the years ended December 31, 2025 and 2024, and $(1) million, $0, $3 million, $4 million and $(1) million for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, respectively.

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


Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024
Net interest income	$	(102)	$	22	$	(33)	$	(26)	$	(21)	$	(22)	$	(21)





Noninterest income (loss)	(2,952)		(3,472)		(796)		(672)		(812)		(672)		(932)
Total revenue, net of interest expense	(3,054)		(3,450)		(829)		(698)		(833)		(694)		(953)

Provision for credit losses	(23)		(21)		(10)		4		(9)		(8)		(5)



Noninterest expense	575		1,688		(63)		201		147		290		262
Loss before income taxes	(3,606)		(5,117)		(756)		(903)		(971)		(976)		(1,210)
Income tax expense (benefit)	(3,296)		(3,462)		(624)		(800)		(948)		(924)		(942)
Net income (loss)	$	(310)	$	(1,655)	$	(132)	$	(103)	$	(23)	$	(52)	$	(268)

Balance Sheet
Average
Total loans and leases	$	7,639	$	8,606	$	7,108	$	7,739	$	7,702	$	8,016	$	8,390
Total assets (2)	329,640		369,727		294,281		328,928		349,999		345,919		365,618
Total deposits	101,423		111,177		93,678		98,338		103,500		110,389		111,717

Period end
Total loans and leases	$	6,795	$	8,177	$	6,795	$	7,422	$	6,958	$	7,428	$	8,177

Total assets (3)	267,985		341,509		267,985		309,170		325,763		317,940		341,509
Total deposits	90,785		103,871		90,785		96,493		99,701		102,550		103,871

(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 $990.6 billion and $956.5 billion for the years ended December 31, 2025 and 2024, and $1.0 trillion, $994.4 billion, $981.6 billion, $976.7 billion and $976.3 billion for the fourth, third, second and first quarters of 2025, and the fourth quarter of 2024, respectively.

(3)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $1.0 trillion, $1.0 trillion, $1.0 trillion, $1.0 trillion and $980.4 billion at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively.

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


Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	December 31 2025		September 30 2025		December 31 2024
Consumer
Residential mortgage	$	236,302	$	235,429	$	228,199
Home equity	26,823		26,482		25,737
Credit card	106,027		102,109		103,566
Direct/Indirect consumer (1)	114,130		111,412		107,122
Other consumer (2)	144		169		151
Total consumer loans excluding loans accounted for under the fair value option	483,426		475,601		464,775
Consumer loans accounted for under the fair value option (3)	165		165		221
Total consumer	483,591		475,766		464,996

Commercial
U.S. commercial	436,242		429,202		386,990
Non-U.S. commercial	155,045		148,707		137,518
Commercial real estate (4)	68,748		66,986		65,730
Commercial lease financing	16,241		16,282		15,708
	676,276		661,177		605,946
U.S. small business commercial	22,500		22,428		20,865
Total commercial loans excluding loans accounted for under the fair value option	698,776		683,605		626,811
Commercial loans accounted for under the fair value option (3)	3,333		6,529		4,028
Total commercial	702,109		690,134		630,839

Total loans and leases	$	1,185,700	$	1,165,900	$	1,095,835

(1)Includes primarily auto and specialty lending loans and leases of $55.3 billion, $55.1 billion and $54.9 billion, U.S. securities-based lending loans of $55.0 billion, $52.5 billion and $48.7 billion and non-U.S. consumer loans of $3.0 billion, $3.0 billion and $2.8 billion at December 31, 2025, September 30, 2025 and December 31, 2024, 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 $58 million, $59 million and $59 million and home equity loans of $107 million, $106 million and $162 million at December 31, 2025, September 30, 2025 and December 31, 2024, respectively. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.1 billion, $2.2 billion and $2.8 billion and non-U.S. commercial loans of $1.2 billion, $4.3 billion and $1.3 billion at December 31, 2025, September 30, 2025 and December 31, 2024, respectively.

(4)Includes U.S. commercial real estate loans of $62.7 billion, $61.1 billion and $59.6 billion and non-U.S. commercial real estate loans of $6.0 billion, $5.9 billion and $6.1 billion at December 31, 2025, September 30, 2025 and December 31, 2024, respectively.

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


Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Fourth Quarter 2025
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	235,813	$	116,678	$	110,119	$	1	$	3,276	$	5,739
Home equity	26,798		22,745		2,874		—		97		1,082
Credit card	102,992		99,408		3,585		—		—		(1)
Direct/Indirect and other consumer	112,803		55,406		57,393		—		—		4
Total consumer	478,406		294,237		173,971		1		3,373		6,824

Commercial
U.S. commercial	455,781		28,415		73,429		242,890		110,850		197
Non-U.S. commercial	152,913		1		648		78,363		73,563		338
Commercial real estate	67,312		25		8,920		48,313		10,036		18
Commercial lease financing	16,483		—		—		16,752		—		(269)
Total commercial	692,489		28,441		82,997		386,318		194,449		284
Total loans and leases	$	1,170,895	$	322,678	$	256,968	$	386,319	$	197,822	$	7,108

	Third Quarter 2025
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	235,301	$	116,968	$	109,023	$	2	$	3,395	$	5,913
Home equity	26,413		22,404		2,783		—		101		1,125
Credit card	100,966		97,481		3,485		—		—		—
Direct/Indirect and other consumer	110,127		55,151		54,973		—		—		3
Total consumer	472,807		292,004		170,264		2		3,496		7,041

Commercial
U.S. commercial	443,274		28,271		66,143		244,131		104,599		130
Non-U.S. commercial	154,458		—		643		79,811		73,173		831
Commercial real estate	66,494		22		8,473		48,256		9,726		17
Commercial lease financing	16,002		—		—		16,282		—		(280)
Total commercial	680,228		28,293		75,259		388,480		187,498		698
Total loans and leases	$	1,153,035	$	320,297	$	245,523	$	388,482	$	190,994	$	7,739

	Fourth Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	227,990	$	114,777	$	106,726	$	1	$	—	$	6,486
Home equity	25,767		21,773		2,562		—		152		1,280
Credit card	100,938		97,448		3,490		—		—		—
Direct/Indirect and other consumer	106,379		55,316		51,061		—		—		2
Total consumer	461,074		289,314		163,839		1		152		7,768

Commercial
U.S. commercial	404,606		26,740		56,502		234,533		86,689		142
Non-U.S. commercial	132,833		—		697		74,632		56,747		757
Commercial real estate	67,064		15		7,741		50,452		8,838		18
Commercial lease financing	15,432		—		—		15,727		—		(295)
Total commercial	619,935		26,755		64,940		375,344		152,274		622
Total loans and leases	$	1,081,009	$	316,069	$	228,779	$	375,345	$	152,426	$	8,390

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


Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	December 31 2025		September 30 2025		December 31 2024		December 31 2025		September 30 2025		December 31 2024
Asset managers and funds	$	149,178	$	145,980	$	118,123	$	234,323	$	223,876	$	193,947
Finance companies	94,444		85,106		74,975		129,652		121,131		101,828
Capital goods	54,293		54,930		51,367		108,722		106,394		98,780
Real estate(5)	69,939		69,485		69,841		99,454		97,680		95,981
Healthcare equipment and services	35,417		36,812		35,964		71,944		68,106		65,819
Materials	29,094		29,167		26,797		61,872		60,707		58,128
Individuals and trusts	43,556		42,112		35,457		59,713		56,245		50,353
Retailing	25,648		27,022		24,449		55,313		55,603		53,471
Consumer services	29,757		30,481		28,391		55,291		55,297		53,054
Food, beverage and tobacco	25,561		25,087		25,763		51,016		51,328		54,370
Government and public education	33,874		32,253		32,682		50,898		51,589		48,204
Commercial services and supplies	24,680		24,662		24,409		46,058		46,191		43,451
Media	11,324		10,812		12,130		43,691		24,995		24,023
Utilities	18,670		19,390		18,186		43,554		44,483		42,107
Energy	13,199		12,553		13,857		39,122		36,055		35,510
Transportation	24,772		23,532		24,135		37,707		36,736		35,743
Software and services	15,317		14,620		11,158		32,070		32,158		27,383
Technology hardware and equipment	11,488		10,269		11,526		30,519		30,031		30,093
Global commercial banks	22,377		24,329		22,641		25,327		28,344		25,220
Vehicle dealers	19,222		19,113		18,194		24,669		24,665		23,855
Insurance	11,443		11,411		12,640		23,762		23,525		23,445
Pharmaceuticals and biotechnology	7,166		7,097		7,378		23,325		22,463		21,717
Consumer durables and apparel	9,612		9,592		8,987		23,299		21,516		21,823
Automobiles and components	8,129		7,888		8,172		17,284		17,052		16,268
Telecommunication services	6,525		7,025		8,571		15,686		15,628		18,759
Food and staples retailing	5,313		6,103		7,206		10,836		11,250		12,777
Financial markets infrastructure (clearinghouses)	6,101		6,437		4,219		8,336		8,671		6,413
Religious and social organizations	2,290		2,407		2,285		4,245		4,073		4,066

Total commercial credit exposure by industry	$	808,389	$	795,675	$	739,503	$	1,427,688	$	1,375,792	$	1,286,588

(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 $70.6 billion, $69.3 billion and $59.2 billion at December 31, 2025, September 30, 2025 and December 31, 2024, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $27.2 billion, $27.8 billion and $30.1 billion, which consists primarily of other marketable securities, at December 31, 2025, September 30, 2025 and December 31, 2024, respectively.

(2)Total utilized and total committed exposure includes loans of $3.3 billion, $6.5 billion and $4.0 billion and issued letters of credit with a notional amount of $77 million, $87 million and $40 million accounted for under the fair value option at December 31, 2025, September 30, 2025 and December 31, 2024, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $2.3 billion, $2.2 billion and $2.2 billion at December 31, 2025, September 30, 2025 and December 31, 2024, 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.

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


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	December 31 2025			September 30 2025			June 30 2025			March 31 2025			December 31 2024
Residential mortgage	$	2,008		$	1,972		$	2,008		$	2,036		$	2,052
Home equity	392			386			393			410			409
Direct/Indirect consumer	176			173			163			167			186
Total consumer	2,576			2,531			2,564			2,613			2,647
U.S. commercial	1,404			1,131			1,277			1,157			1,204
Non-U.S. commercial	80			107			102			111			8
Commercial real estate	1,596			1,470			1,964			2,145			2,068
Commercial lease financing	97			59			35			26			20
	3,177			2,767			3,378			3,439			3,300
U.S. small business commercial	51			49			39			31			28
Total commercial	3,228			2,816			3,417			3,470			3,328
Total nonperforming loans and leases	5,804			5,347			5,981			6,083			5,975
Foreclosed properties (1)	101			123			123			118			145
Total nonperforming loans, leases, and foreclosed properties (2, 3)	$	5,905		$	5,470		$	6,104		$	6,201		$	6,120

Fully-insured home loans past due 30 days or more and still accruing	$	450		$	439		$	419		$	460		$	488
Consumer credit card past due 30 days or more and still accruing	2,604			2,464			2,388			2,497			2,638
Other loans past due 30 days or more and still accruing	3,834			3,637			3,240			3,531			3,486
Total loans past due 30 days or more and still accruing (4, 5)	$	6,888		$	6,540		$	6,047		$	6,488		$	6,612

Fully-insured home loans past due 90 days or more and still accruing	$	207		$	201		$	196		$	234		$	229
Consumer credit card past due 90 days or more and still accruing	1,351			1,260			1,257			1,334			1,401
Other loans past due 90 days or more and still accruing	563			637			298			299			301
Total loans past due 90 days or more and still accruing (5)	$	2,121		$	2,098		$	1,751		$	1,867		$	1,931

Nonperforming loans, leases and foreclosed properties/Total assets (6)	0.17 %		%	0.16 %		%	0.18 %		%	0.19 %		%	0.19 %		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)	0.50			0.47			0.54			0.56			0.56
Nonperforming loans and leases/Total loans and leases (6)	0.49			0.46			0.52			0.55			0.55
Commercial reservable criticized utilized exposure (7)	$	24,748		$	26,332		$	27,904		$	27,652		$	26,495
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (6)	3.37 %		%	3.67 %		%	3.98 %		%	4.12 %		%	4.01 %		%
Total commercial criticized utilized exposure/Commercial utilized exposure (7)	3.36			3.62			3.88			4.35			4.16

(1)Includes repossessed assets of $34 million and $41 million for the fourth and third quarters of 2025, $35 million for both the second and first quarters of 2025 and $31 million for the fourth quarter of 2024.

(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 $517 million, $521 million, $481 million, $583 million and $731 million at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively.

(4)Balances do not include loans held-for-sale past due 30 days or more and still accruing of $9 million, $49 million, $27 million, $37 million and $84 million at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, respectively.

(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 $3.5 billion, $6.7 billion, $6.9 billion, $5.4 billion and $4.2 billion at December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024, 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.

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


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	2,531	$	2,564	$	2,613	$	2,647	$	2,677

Additions	294		253		264		242		260


Reductions:
Paydowns and payoffs	(103)		(137)		(132)		(111)		(132)
Sales	—		(1)		(1)		(1)		(2)
Returns to performing status (2)	(131)		(136)		(157)		(154)		(140)
Charge-offs (3)	(10)		(5)		(13)		(5)		(7)
Transfers to foreclosed properties	(5)		(7)		(10)		(5)		(9)

Total net additions (reductions) to nonperforming loans and leases	45		(33)		(49)		(34)		(30)
Total nonperforming consumer loans and leases, end of period	2,576		2,531		2,564		2,613		2,647
Foreclosed properties (4)	90		97		94		88		89
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	2,666	$	2,628	$	2,658	$	2,701	$	2,736

Nonperforming Commercial Loans and Leases (5):
Balance, beginning of period	$	2,816	$	3,417	$	3,470	$	3,328	$	2,952

Additions	883		550		1,105		644		1,239
Reductions:
Paydowns	(259)		(834)		(484)		(275)		(570)
Sales	(30)		(19)		(107)		—		(15)
Returns to performing status (6)	(5)		(12)		(219)		(9)		(28)
Charge-offs	(177)		(286)		(348)		(218)		(250)


Total net additions (reductions) to nonperforming loans and leases	412		(601)		(53)		142		376
Total nonperforming commercial loans and leases, end of period	3,228		2,816		3,417		3,470		3,328
Foreclosed properties (4)	11		26		29		30		56
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	3,239	$	2,842	$	3,446	$	3,500	$	3,384

(1)For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 26.

(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.

(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 repossessed assets of $31 million in consumer loans and $2 million in commercial loans for the fourth quarter of 2025. Includes $38 million, $33 million, $32 million and $29 million in consumer loans and $3 million, $2 million, $3 million and $2 million in commercial loans for the third, second and first quarters of 2025 and the fourth quarter of 2024.

(5)Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

(6)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.

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


Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Fourth Quarter 2025				Third Quarter 2025				Second Quarter 2025				First Quarter 2025				Fourth Quarter 2024
	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	(2)	— %	%	$	(1)	— %	%	$	2	— %	%	$	—	— %	%	$	(1)	— %	%
Home equity	(8)		(0.12)		(11)		(0.17)		(10)		(0.15)		(12)		(0.19)		(9)		(0.14)
Credit card	882		3.40		880		3.46		954		3.82		1,001		4.05		963		3.79

Direct/Indirect consumer	63		0.22		55		0.20		47		0.17		70		0.27		67		0.25
Other consumer	57		n/m		55		n/m		66		n/m		60		n/m		87		n/m
Total consumer	992		0.82		978		0.82		1,059		0.90		1,119		0.98		1,107		0.96
U.S. commercial	92		0.09		135		0.13		129		0.13		70		0.07		100		0.10
Non-U.S. commercial	24		0.06		—		—		—		—		7		0.02		19		0.06
Total commercial and industrial	116		0.08		135		0.09		129		0.09		77		0.06		119		0.09
Commercial real estate	46		0.27		120		0.72		202		1.24		123		0.75		117		0.70
Commercial lease financing	3		0.07		—		—		1		0.02		—		—		—		—
	165		0.10		255		0.16		332		0.21		200		0.13		236		0.16
U.S. small business commercial	130		2.29		134		2.41		134		2.48		133		2.57		123		2.37
Total commercial	295		0.17		389		0.23		466		0.29		333		0.22		359		0.23
Total net charge-offs	$	1,287	0.44		$	1,367	0.47		$	1,525	0.55		$	1,452	0.54		$	1,466	0.54

By Business Segment and All Other
Consumer Banking	$	1,133	1.39 %	%	$	1,122	1.39 %	%	$	1,200	1.51 %	%	$	1,262	1.62 %	%	$	1,246	1.57 %	%
Global Wealth & Investment Management	5		0.01		8		0.01		10		0.02		9		0.02		10		0.02
Global Banking	160		0.17		250		0.26		303		0.32		187		0.20		220		0.23
Global Markets	—		—		(1)		—		25		0.06		6		0.01		2		0.01
All Other	(11)		(0.63)		(12)		(0.61)		(13)		(0.68)		(12)		(0.62)		(12)		(0.59)
Total net charge-offs	$	1,287	0.44		$	1,367	0.47		$	1,525	0.55		$	1,452	0.54		$	1,466	0.54

(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

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


Bank of America Corporation and Subsidiaries
Annual Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Year Ended December 31
	2025				2024
	Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	(1)	— %	%	$	—	— %	%
Home equity	(41)		(0.16)		(41)		(0.16)
Credit card	3,717		3.68		3,745		3.75

Direct/Indirect consumer	235		0.21		239		0.23
Other consumer	238		n/m		295		n/m
Total consumer	4,148		0.88		4,238		0.93
U.S. commercial	426		0.10		388		0.11
Non-U.S. commercial	31		0.02		67		0.05
Total commercial and industrial	457		0.08		455		0.09
Commercial real estate	491		0.74		864		1.24
Commercial lease financing	4		0.02		1		0.01
	952		0.15		1,320		0.23
U.S. small business commercial	531		2.44		473		2.34
Total commercial	1,483		0.22		1,793		0.30
Total net charge-offs	$	5,631	0.50		$	6,031	0.57

By Business Segment and All Other
Consumer Banking	$	4,717	1.48 %	%	$	4,753	1.52 %	%
Global Wealth & Investment Management	32		0.01		48		0.02
Global Banking	900		0.24		1,274		0.34
Global Markets	30		0.02		5		—
All Other	(48)		(0.64)		(49)		(0.57)
Total net charge-offs	$	5,631	0.50		$	6,031	0.57

(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

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


Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	December 31, 2025		September 30, 2025			December 31, 2024
	Amount		Percent of Loans and Leases Outstanding (1)	Amount			Percent of Loans and Leases Outstanding (1)	Amount		Percent of Loans and Leases Outstanding (1)
Allowance for loan and lease losses
Residential mortgage	$	294	0.12%	$	321		0.14%	$	264	0.12%
Home equity	122		0.46	87			0.33	29		0.11
Credit card	7,197		6.79	7,272			7.12	7,515		7.26

Direct/Indirect consumer	713		0.63	713			0.64	700		0.65
Other consumer	54		n/m	59			n/m	62		n/m
Total consumer	8,380		1.73	8,452			1.78	8,570		1.84
U.S. commercial (2)	2,967		0.65	2,896			0.64	2,637		0.65
Non-U.S. commercial	801		0.52	813			0.55	778		0.57
Commercial real estate	1,007		1.46	1,045			1.56	1,219		1.85
Commercial lease financing	48		0.29	46			0.28	36		0.23
Total commercial	4,823		0.69	4,800			0.70	4,670		0.75
Allowance for loan and lease losses	13,203		1.12	13,252			1.14	13,240		1.21


Reserve for unfunded lending commitments	1,177			1,109				1,096
Allowance for credit losses	$	14,380		$	14,361			$	14,336

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases (1)			1.12%				1.14%			1.21%

Allowance for loan and lease losses/Total nonperforming loans and leases			228				248			222

Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.59				2.44			2.27

(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. For fair value option amounts, see Outstanding Loans and Leases and related footnotes on page 23.

(2)Includes allowance for loan and lease losses for U.S. small business commercial loans of $1.4 billion, $1.4 billion and $1.2 billion at December 31, 2025, September 30, 2025 and December 31, 2024, respectively.

n/m = not meaningful

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


Exhibit A: Non-GAAP Reconciliations

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

The Corporation evaluates its business using certain non-GAAP financial measures, including pretax, pre-provision income and ratios that utilize tangible equity and tangible assets, each of which is a non-GAAP financial measure. Tangible equity represents shareholders’ equity or common shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities ("adjusted" shareholders' equity or common shareholders’ equity). Return on average tangible common shareholders’ equity measures the Corporation’s net income applicable to common shareholders as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total tangible assets (total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities). Return on average tangible shareholders’ equity measures the Corporation’s net income as a percentage of adjusted average total shareholders’ equity. The tangible equity ratio represents adjusted ending shareholders’ equity divided by total tangible assets. Tangible book value per common share represents adjusted ending common shareholders’ equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

See the tables below for reconciliations of these non-GAAP financial measures to the most directly comparable financial measures defined by GAAP for the years ended December 31, 2025 and 2024 and the three months ended December 31, 2025, September 30, 2025, June 30, 2025, March 31, 2025 and December 31, 2024. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. Other companies may define or calculate these non-GAAP financial measures differently.


	Year Ended December 31				Fourth Quarter 2025		Third Quarter 2025		Second Quarter 2025		First Quarter 2025		Fourth Quarter 2024
	2025		2024





























Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes	$	37,695	$	33,223	$	9,622	$	10,408	$	8,668	$	8,997	$	8,236
Provision for credit losses	5,675		5,821		1,308		1,295		1,592		1,480		1,452
Pretax, pre-provision income	$	43,370	$	39,044	$	10,930	$	11,703	$	10,260	$	10,477	$	9,688

Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity	$	298,474	$	292,467	$	303,873	$	300,381	$	295,329	$	294,187	$	293,398
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,883)		(1,961)		(1,853)		(1,873)		(1,893)		(1,912)		(1,932)
Related deferred tax liabilities	841		866		827		839		846		851		859
Tangible shareholders’ equity	$	228,411	$	222,351	$	233,826	$	230,326	$	225,261	$	224,105	$	223,304
Preferred stock	(24,039)		(26,487)		(25,992)		(25,232)		(22,573)		(22,307)		(23,493)
Tangible common shareholders’ equity	$	204,372	$	195,864	$	207,834	$	205,094	$	202,688	$	201,798	$	199,811








Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity	$	303,243	$	293,963	$	303,243	$	302,437	$	298,021	$	293,949	$	293,963
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,841)		(1,919)		(1,841)		(1,860)		(1,880)		(1,899)		(1,919)
Related deferred tax liabilities	825		851		825		828		842		846		851
Tangible shareholders’ equity	$	233,206	$	223,874	$	233,206	$	232,384	$	227,962	$	223,875	$	223,874
Preferred stock	(25,992)		(23,159)		(25,992)		(25,992)		(23,495)		(20,499)		(23,159)
Tangible common shareholders’ equity	$	207,214	$	200,715	$	207,214	$	206,392	$	204,467	$	203,376	$	200,715

Reconciliation of period-end assets to period-end tangible assets
Assets	$	3,410,394	$	3,261,299	$	3,410,394	$	3,403,149	$	3,440,798	$	3,349,039	$	3,261,299
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,841)		(1,919)		(1,841)		(1,860)		(1,880)		(1,899)		(1,919)
Related deferred tax liabilities	825		851		825		828		842		846		851
Tangible assets	$	3,340,357	$	3,191,210	$	3,340,357	$	3,333,096	$	3,370,739	$	3,278,965	$	3,191,210

Book value per share of common stock
Common shareholders’ equity	$	277,251	$	270,804	$	277,251	$	276,445	$	274,526	$	273,450	$	270,804
Ending common shares issued and outstanding	7,212.5		7,610.9		7,212.5		7,329.4		7,436.7		7,560.1		7,610.9
Book value per share of common stock	$	38.44	$	35.58	$	38.44	$	37.72	$	36.92	$	36.17	$	35.58

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	207,214	$	200,715	$	207,214	$	206,392	$	204,467	$	203,376	$	200,715
Ending common shares issued and outstanding	7,212.5		7,610.9		7,212.5		7,329.4		7,436.7		7,560.1		7,610.9
Tangible book value per share of common stock	$	28.73	$	26.37	$	28.73	$	28.16	$	27.49	$	26.90	$	26.37

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

Form: 8-K

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