BANK OF AMERICA CORP /DE/
For the period ended Jun 30, 2026. Filed Jul 31, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2026 · Filed Jul 31, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consumer Banking
| Three Months Ended June 30 · Six Months Ended June 30 | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (Dollars in millions) · 2026 · 2025 · % Change · 2026 · 2025 · % Change | ||||||||||||
| Net interest income | $9,206 | $8,726 | 6% | $18,199 | $17,231 | 6% | ||||||
| Noninterest income: | ||||||||||||
| Card income | 1,346 | 1,415 | (5) | 2,619 | 2,712 | (3) | ||||||
| Service charges | 639 | 627 | 2 | 1,277 | 1,245 | 3 | ||||||
| All other income | 145 | 45 | n/m | 290 | 118 | 146 | ||||||
| Total noninterest income | 2,130 | 2,087 | 2 | 4,186 | 4,075 | 3 | ||||||
| Total revenue, net of interest expense | 11,336 | 10,813 | 5 | 22,385 | 21,306 | 5 | ||||||
| Provision for credit losses | 1,160 | 1,282 | (10) | 2,292 | 2,574 | (11) | ||||||
| Noninterest expense | 5,801 | 5,567 | 4 | 11,638 | 11,393 | 2 | ||||||
| Income before income taxes | 4,375 | 3,964 | 10 | 8,455 | 7,339 | 15 | ||||||
| Income tax expense | 1,094 | 991 | 10 | 2,114 | 1,835 | 15 | ||||||
| Net income | $3,281 | $2,973 | 10 | $6,341 | $5,504 | 15 | ||||||
| Effective tax rate | 25.0% | 25.0% | 25.0% | 25.0% | ||||||||
| Net interest yield | 3.68 | 3.51 | 3.67 | 3.49 | ||||||||
| Efficiency ratio | 51.18 | 51.48 | 51.99 | 53.48 | ||||||||
| Return on average allocated capital | 29 | 27 | 28 | 25 | ||||||||
| Balance Sheet | ||||||||||||
| Three Months Ended June 30 · Six Months Ended June 30 | ||||||||||||
| Average | 2026 | 2025 | % Change | 2026 | 2025 | % Change | ||||||
| Total loans and leases | $321,056 | $319,142 | 1% | $321,607 | $317,101 | 1% | ||||||
| Total earning assets | 1,002,799 | 996,193 | 1 | 999,632 | 994,233 | 1 | ||||||
| Total assets | 1,041,292 | 1,033,776 | 1 | 1,038,000 | 1,031,560 | 1 | ||||||
| Total deposits | 956,957 | 951,986 | 1 | 953,900 | 949,780 | — | ||||||
| Allocated capital | 45,500 | 44,000 | 3 | 45,500 | 44,000 | 3 | ||||||
| Period end | June 302026 | December 312025 | % Change | |||||||||
| Total loans and leases | $322,271 | $325,871 | (1)% | |||||||||
| Total earning assets | 999,457 | 998,969 | — | |||||||||
| Total assets | 1,039,051 | 1,039,346 | — | |||||||||
| Total deposits | 953,195 | 956,265 | — | |||||||||
Consumer Banking offers a diversified range of lending, deposit and investment products and services to consumers and small businesses. For more information about Consumer Banking, see Business Segment Operations in the MD&A of the Corporation’s 2025 Annual Report on Form 10-K.
Consumer Banking Results
Net income for Consumer Banking increased $308 million to $3.3 billion due to higher revenue and lower provision for credit
losses, partially offset by higher noninterest expense. Net interest income increased $480 million to $9.2 billion primarily driven by higher deposit spreads, as well as loan and deposit balances. Noninterest income was $2.1 billion, relatively unchanged from the same period a year ago.
The provision for credit losses decreased $122 million to $1.2 billion primarily due to improved asset quality in credit card. Noninterest expense increased $234 million to $5.8 billion primarily driven by continued investments in the business, including technology and marketing.
Average loans and leases increased $1.9 billion to $321.1 billion primarily due to growth in credit card balances.
Average deposits increased $5.0 billion to $957.0 billion primarily due to net inflows of $11.5 billion in checking and $3.8 billion in time deposits, partially offset by net outflows of $10.4 billion in money market and other savings.
Net income for Consumer Banking increased $837 million to $6.3 billion due to higher revenue and lower provision for credit losses, partially offset by higher noninterest expense. Net interest income increased $968 million to $18.2 billion due to the same factors as described in the three-month discussion. Noninterest income increased $111 million to $4.2 billion, primarily due to a higher amount of allocated asset and liability management (ALM) activities.
The provision for credit losses decreased $282 million to $2.3 billion primarily due to the same factor as described in the three-month discussion. Noninterest expense increased $245
million to$11.6 billion primarily due to the same factors as described in the three-month discussion.
Average loans and leases increased $4.5 billion to $321.6 billion due to the same factor as described in the three-month discussion.
Average deposits increased $4.1 billion to$953.9 billion primarily due to net inflows of $10.3 billion in checking and $5.9 billion in time deposits, partially offset by net outflows of $12.1 billion in money market and other savings.
Consumer investment assets increased $99.8 billion to $639.5 billion driven by higher market valuations and positive net client flows.
Key Statistics
The table below provides key performance indicators for deposit spreads, other period-end information, credit and debit card and loan production activities.
| Key Statistics | ||||||
|---|---|---|---|---|---|---|
| Three Months Ended June 30 · Six Months Ended June 30 | ||||||
| (Dollars in millions) · 2026 · 2025 · 2026 · 2025 | ||||||
| Deposit Spreads | ||||||
| Total deposit spreads (excludes noninterest costs) | 3.08% | 2.91% | 3.05% | 2.88% | ||
| Period end | ||||||
| Consumer investment assets (in millions) (1) | $639,517 | $539,727 | ||||
| Active digital banking users (in thousands) (2) | 49,834 | 48,998 | ||||
| Active mobile banking users (in thousands) (3) | 42,056 | 40,840 | ||||
| Financial centers | 3,530 | 3,664 | ||||
| ATMs | 14,939 | 14,904 | ||||
| Credit and Debit Card | ||||||
| Total credit card (4) | ||||||
| Gross interest yield (5) | 11.36% | 12.06% | 11.49% | 12.09% | ||
| Risk-adjusted margin (6) | 6.47 | 7.07 | 6.58 | 6.88 | ||
| New accounts (in thousands) | 999 | 834 | 1,883 | 1,747 | ||
| Purchase volumes | $101,877 | $94,814 | $194,849 | $183,022 | ||
| Debit card purchase volumes | 164,189 | 149,288 | 316,123 | 289,485 | ||
| Loan Production (7) | ||||||
| Consumer Banking: | ||||||
| First mortgage | $3,497 | $3,052 | $6,563 | $4,909 | ||
| Home equity | 2,404 | 2,241 | 4,404 | 4,075 | ||
| Total (8): | ||||||
| First mortgage | $8,259 | $6,604 | $14,691 | $11,112 | ||
| Home equity | 2,899 | 2,766 | 5,361 | 4,980 | ||
(1)Includes client brokerage assets, deposit sweep balances, brokered CDs and 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)Includes consumer credit card portfolios in Consumer Banking and GWIM.
(5)Calculated as the effective annual percentage rate divided by average loans.
(6)Calculated as the difference between total revenue, net of interest expense, and net charge-offs divided by average loans.
(7)The 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.
(8)In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.
11 Bank of America
Since June 30, 2025, active mobile banking users increased by more than one million, reflecting client growth and continuing changes in our clients’ banking preferences. We had a net decrease of 134 financial centers and an increase of 35 ATMs as we continued to optimize our consumer banking network.
During the three months ended June 30, 2026, the total risk-adjusted margin decreased 60 bps primarily driven by lower card-related fee income and lower net interest margin due to loan balance mix, partially offset by lower net charge-offs. During the six months ended June 30, 2026, the total risk-adjusted margin decreased 30 bps due to the same factors as described in the three-month discussion. During the three and six months ended June 30, 2026, total credit card purchase volumes
increased $7.1 billion and $11.8 billion, and debit card purchase volumes increased $14.9 billion and $26.6 billion, reflecting higher levels of consumer spending.
During the three and six months ended June 30, 2026, first mortgage loan originations for Consumer Banking increased $445 million and $1.7 billion, and first mortgage loan originations for the total Corporation increased $1.7 billion and $3.6 billion for the same periods, primarily driven by higher demand.
During the three and six months ended June 30, 2026, home equity production in Consumer Banking increased $163 million and $329 million, and home equity production for the total Corporation increased $133 million and $381 million for the same periods, primarily driven by higher demand.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.