Document

EX-99.3 4 bac-09302024ex993.htm THE SUPPLEMENTAL INFORMATION Document

補充資訊

2024年第三季度

當期信息屬初步，基於財報演示時可獲得的公司數據。該信息僅在伴隨頁面中包含的特定日期或日期之日發佈。美國銀行（公司）不承擔更新所提供的任何信息的義務，並否認有義務更新任何信息。本信息中的所有展望性陳述均受制於公司根據《1934年證券交易法》向證券交易委員會提交的報告中所包含的展望性語言，該報告可在證券交易委員會網站（www.sec.gov*）或公司網站（www.bankofamerica.com*）上查閱。公司未來的財務表現會受到其在SEC的申報中描述的風險和不確定性的影響。

* 網站內容並未納入本補充信息之參考。


美國銀行股份有限公司及其子公司
目錄			頁面


合併財務亮點			2
綜合損益表			3
綜合收益表			3
淨利息收入和非利息收入			4
綜合資產負債表			5
資本管理			6
Basel 3下的資本組成			7
每季平均餘額和利率期貨			8

債務證券			9
補充財務數據			10
按業務板塊和所有其他項目的季度業績			11
按業務板塊和所有其他項目的年初至今業績			13
消費銀行業務
所有板塊結果			14
關鍵因數			15
業務成果			16
全球財富與投資管理
所有板塊結果			18
關鍵因數			19
全球銀行
所有板塊結果			20
關鍵因數			21

全球市場
總部門結果			22
關鍵因數			23
所有板塊
總體結果			24
優質貸款和租賃			25
按業務板塊和其他所有部門的季度平均貸款和租賃			26
不同行業的商業信貸風險			27

不良貸款、租賃和被扣押物			28
不良貸款、租賃和被扣押物業務活動			29
季度淨核銷和淨核銷比率			30
年初至今淨核銷和淨核銷比率			31
按產品類型分配信用損失准備金			32

附件A：非GAAP和GAAP調和表			33







關鍵績效指標

該公司呈現某些關鍵財務和非財務績效因素，管理層在評估合併和/或各部門結果時使用這些因素。該公司認為這些信息很有用，因為它為管理層提供有關基礎運營績效和趨勢的信息。關鍵績效指標見於第2頁的合併財務亮點和每個部門的關鍵指標頁。

業務部門營運

該公司報告其四個業務板塊的營運結果，並所有板塊 (其他) 以全稅後折合 (FTE) 基礎上報告業務結果。此外，如第11-13頁所示，對整個公司的結果是以 FTE 基礎報告的。


美國銀行及其附屬公司
合併財務亮點
(單位：百萬，每股資訊除外)
	九個月結束了九月三十日						第三個季度季度 2024			第二季度季度 2024			首先季度 2024			第四季度 2023			第三個季度季度 2023
	2024			2023
損益表
淨利息收益	$	41,701		$	42,985		$	13,967		$	13,702		$	14,032		$	13,946		$	14,379
非利息收入	34,839			33,637			11,378			11,675			11,786			8,013			10,788
扣除利息費用後的總營業收入	76,540			76,622			25,345			25,377			25,818			21,959			25,167
信用損失準備	4,369			3,290			1,542			1,508			1,319			1,104			1,234
非利息支出	50,025			48,114			16,479			16,309			17,237			17,731			15,838
稅前收入	22,146			25,218			7,324			7,560			7,262			3,124			8,095
稅前、融通前收益 (1)	26,515			28,508			8,866			9,068			8,581			4,228			9,329
所得稅費用（利益）	1,679			1,847			428			663			588			(20)			293
凈利潤	20,467			23,371			6,896			6,897			6,674			3,144			7,802
優先股股息	1,363			1,343			516			315			532			306			532
歸屬於普通股股東的凈收益	19,104			22,028			6,380			6,582			6,142			2,838			7,270
普通股每股稀釋後盈利	2.40			2.72			0.81			0.83			0.76			0.35			0.90
平均稀釋普通股已發行並持有	7,965.0			8,153.4			7,902.1			7,960.9			8,031.4			8,062.5			8,075.9
每股普通股派發的股利	$	0.74		$	0.68		$	0.26		$	0.24		$	0.24		$	0.24		$	0.24

績效比率
平均資產報酬率	0.84		%	1.00		%	0.83		%	0.85		%	0.83		%	0.39		%	0.99		%
平均普通股東權益報酬率	9.59			11.63			9.44			9.98			9.35			4.33			11.24
平均股東權益報酬率	9.31			11.10			9.30			9.45			9.18			4.32			10.86
平均有形普通股東權益報酬率 (2)	13.02			16.09			12.76			13.57			12.73			5.92			15.47
平均有形股東權益報酬率 (2)	12.23			14.78			12.20			12.42			12.07			5.71			14.41
效率比率	65.36			62.79			65.02			64.26			66.77			80.75			62.93


期末
每普通股股份的帳面價值	$	35.37		$	32.65		$	35.37		$	34.39		$	33.71		$	33.34		$	32.65
每股普通股有形帳面價值 (2)	26.25			23.79			26.25			25.37			24.79			24.46			23.79
市值	305,090			216,942			305,090			309,202			298,312			265,840			216,942
美國的金融中心數量。	3,741			3,862			3,741			3,786			3,804			3,845			3,862
美國的品牌ATM數量。	14,900			15,253			14,900			14,972			15,028			15,168			15,253
員工人數	213,491			212,752			213,491			212,318			212,335			212,985			212,752

(1) 稅前、稅前預留收入（PTPI）係通過將稅前收入調整，並加回信用損失預留計算而得之非GAAP財務指標。管理層認為PTPI是一項有用的財務指標，因為能評估公司在信用週期中產生收益以彌補信用損失的能力。（參見附件A：非GAAP調解表 - 與第33頁GAAP財務指標之調解）

(2) 有形股東資本比率和每股普通股的有形帳面價值是非適用會計原則之財務指標。我們認為使用以有形股東資本為基準的比率提供了額外有用的信息，因為它們呈現了可以產生收入的資產的指標。每股有形帳面價值提供了有關有形資產水平與普通股優先股之間的關係的額外有用信息。（參見附件A：非適用會計原則之調帳 - 與第33頁的適用會計原則之調帳財務指標）


當前期間的資訊是初步的，基於在演示時可用的公司數據。			2


美國銀行股份有限公司及附屬公司
綜合損益表
(金額以百萬為單位，除每股資訊外)
	九個月結束了九月三十日				第三個季度季度 2024		第二季度季度 2024		首先季度 2024		第四季度 2023		第三個季度季度 2023
	2024		2023
淨利息收益
利息收入	$	110,630	$	94,633	$	37,491	$	36,854	$	36,285	$	35,629	$	33,624
利息費用	68,929		51,648		23,524		23,152		22,253		21,683		19,245
淨利息收益	41,701		42,985		13,967		13,702		14,032		13,946		14,379

非利息收入
費用和佣金	26,748		23,990		9,119		8,969		8,660		8,019		8,135
市場做市和相似活動	10,464		11,734		3,278		3,298		3,888		998		3,325
其他收入（損失）	(2,373)		(2,087)		(1,019)		(592)		(762)		(1,004)		(672)
總非利息收入	34,839		33,637		11,378		11,675		11,786		8,013		10,788
營業收入總額，扣除利息支出後的淨額	76,540		76,622		25,345		25,377		25,818		21,959		25,167

信用損失準備	4,369		3,290		1,542		1,508		1,319		1,104		1,234

非利息支出
薪資和福利	29,937		28,870		9,916		9,826		10,195		9,460		9,551
佔用和設備	5,465		5,370		1,836		1,818		1,811		1,794		1,795
信息處理與通信	5,347		5,017		1,784		1,763		1,800		1,690		1,676
產品交付與交易相關	2,591		2,726		849		891		851		882		880

專業費用	1,925		1,609		723		654		548		550		545
行銷	1,446		1,472		504		487		455		455		501
其他一般營運	3,314		3,050		867		870		1,577		2,900		890
總非利息支出	50,025		48,114		16,479		16,309		17,237		17,731		15,838
稅前收入	22,146		25,218		7,324		7,560		7,262		3,124		8,095
所得稅費用（利益）	1,679		1,847		428		663		588		(20)		293
凈利潤	$	20,467	$	23,371	$	6,896	$	6,897	$	6,674	$	3,144	$	7,802
優先股股息	1,363		1,343		516		315		532		306		532

歸屬於普通股股東的凈收益	$	19,104	$	22,028	$	6,380	$	6,582	$	6,142	$	2,838	$	7,270

每股普通股信息
累積盈餘	$	2.42	$	2.74	$	0.82	$	0.83	$	0.77	$	0.36	$	0.91
期末稀釋每股收益	2.40		2.72		0.81		0.83		0.76		0.35		0.90
發行並流通的平均普通股份	7,894.7		8,041.3		7,818.0		7,897.9		7,968.2		7,990.9		8,017.1
平均稀釋後發行並流通的普通股份	7,965.0		8,153.4		7,902.1		7,960.9		8,031.4		8,062.5		8,075.9


綜合收益表
(金額單位：百萬美元)
	九個月結束 9月30日				第三季度 2024		第二季度 2024		第一季度財年季度 2024		第四個季度 2023		第三季度 2023
	2024		2023
淨利潤	$	20,467	$	23,371	$	6,896	$	6,897	$	6,674	$	3,144	$	7,802
其他綜合收益（損失），稅後：
債務證券的淨變化	444		81		417		(305)		332		492		(642)
債權估值調整的淨變化	(135)		(419)		—		53		(188)		(267)		(25)
衍生工具的淨變化	3,100		(317)		2,830		686		(416)		4,236		(366)
僱員福利計劃調整	75		25		27		25		23		(464)		6
外幣翻譯調整的淨變化	(30)		(6)		21		(31)		(20)		7		(23)
其他綜合收益（損失）	3,454		(636)		3,295		428		(269)		4,004		(1,050)
綜合收益（損失）	$	23,921	$	22,735	$	10,191	$	7,325	$	6,405	$	7,148	$	6,752


當前週期信息爲初步信息，基於演示時公司提供的數據。			3


美國銀行公司及其子公司
淨利息收入和非利息收入
（以百萬美元計）
	截至9月30日的前9個月				第三季度 2024		第二季度 2024		第一季度財年季度 2024		第四個季度 2023		第三季度 2023
	2024		2023
淨利息收入
利息收入
貸款和租賃	$	46,303	$	41,897	$	15,725	$	15,338	$	15,240	$	15,227	$	14,830
債務證券	19,295		14,809		6,833		6,325		6,137		5,417		4,658
聯邦資金出售及債券借入或根據回購協議購買	15,530		13,555		5,196		5,159		5,175		5,124		4,888
交易帳戶資產	7,697		6,321		2,726		2,516		2,455		2,452		2,217
其他利息收入	21,805		18,051		7,011		7,516		7,278		7,409		7,031
總利息收入	110,630		94,633		37,491		36,854		36,285		35,629		33,624

利息支出
存款	28,918		17,439		10,125		9,655		9,138		8,724		7,340
短期借款	26,545		22,164		8,940		9,070		8,535		8,389		7,629
交易帳戶負債	1,624		1,486		538		540		546		557		510
長期債務	11,842		10,559		3,921		3,887		4,034		4,013		3,766
總利息支出	68,929		51,648		23,524		23,152		22,253		21,683		19,245
淨利息收入	$	41,701	$	42,985	$	13,967	$	13,702	$	14,032	$	13,946	$	14,379

(I) $ 8,440 $ 6,567 $ 7,548 $ 14,984 $ 5,294 $ 15,007 $ 10,628
費用和佣金
Card income
互換費用 (1)	$	2,984	$	2,973	$	1,030	$	1,023	$	931	$	1,010	$	994
其他信用卡收入	1,678		1,562		588		558		532		509		526
總信用卡收入	4,662		4,535		1,618		1,581		1,463		1,519		1,520
服務費
存入資金相關費用	3,492		3,266		1,198		1,172		1,122		1,116		1,124
貸款相關費用	1,009		972		354		335		320		330		340
總服務費用	4,501		4,238		1,552		1,507		1,442		1,446		1,464
投資和券商服務
資產管理費	10,173		8,990		3,533		3,370		3,270		3,012		3,103
券商費用	2,880		2,664		1,013		950		917		897		860
所有投資和券商服務	13,053		11,654		4,546		4,320		4,187		3,909		3,963
投資銀行費用
承保收入	2,512		1,757		742		869		901		478		531
聯合融資費用	886		620		274		318		294		278		209
財務諮詢服務	1,134		1,186		387		374		373		389		448
總投資銀行費用	4,532		3,563		1,403		1,561		1,568		1,145		1,188
總費用和佣金	26,748		23,990		9,119		8,969		8,660		8,019		8,135
做市和類似活動	10,464		11,734		3,278		3,298		3,888		998		3,325
其他收入（損失）	(2,373)		(2,087)		(1,019)		(592)		(762)		(1,004)		(672)
非利息收入總額	$	34,839	$	33,637	$	11,378	$	11,675	$	11,786	$	8,013	$	10,788

(1)Gross interchange fees and merchant income were $10.1 billion and $9.9 billion and are presented net of $7.1 billion and $7.0 billion of expenses for rewards and partner payments as well as certain other card costs for the nine months ended September 30, 2024 and 2023. Gross interchange fees and merchant income were $3.4 billion, $3.5 billion, $3.2 billion, $3.4 billion and $3.4 billion and are presented net of $2.4 billion, $2.4 billion, $2.3 billion, $2.4 billion and $2.4 billion of expenses for rewards and partner payments as well as certain other card costs for the third, second and first quarters of 2024 and the fourth and third quarters of 2023, respectively.


當前期間信息爲初步信息，基於演示時可獲得的公司數據。			4


美國銀行及其附屬公司
合併資產負債表
(金額單位：百萬美元)
		9月30日 2024		6月30日 2024		9月30日 2023
資產
現金和存放在銀行的款項		$	24,590	$	25,849	$	25,255
在聯邦儲備委員會、非美國中央銀行和其他銀行持有的人形機器人-軸承存款		270,742		294,783		326,471
現金及現金等價物		295,332		320,632		351,726
定期存款和其他短期投資		8,151		8,369		7,995
聯邦基金出售和證券借入或購買協議下重新出售		337,706		337,752		309,249
交易帳戶資產		342,135		306,466		306,409
衍生工具資產		34,182		35,956		47,464
債務證券：
以公平價值計量		325,436		301,051		175,540
持有至到期投資，按成本計量		567,553		577,366		603,333
所有債務證券		892,989		878,417		778,873
貸款和租賃		1,075,800		1,056,785		1,049,149
貸款和租賃損失撥備		(13,251)		(13,238)		(13,287)
貸款和租賃，減除準備金後淨額		1,062,549		1,043,547		1,035,862
資產和設備淨值		12,033		11,917		11,821
商譽		69,021		69,021		69,021
待售貸款		10,351		7,043		7,591
客戶及其他應收賬款		91,267		80,978		74,347
其他		168,320		157,898		152,732
總資產		$	3,324,036	$	3,257,996	$	3,153,090

負債
美國辦事處存款：
非計息帳戶		$	498,263	$	503,037	$	549,333
計息帳戶		1,308,856		1,291,853		1,228,039
非美國辦事處存款：
非計息帳戶		15,457		14,573		15,276
計息帳戶		107,776		101,028		91,953
存款總額		1,930,352		1,910,491		1,884,601
聯邦基金購買及證券出借或出售後協議回購款項		397,958		368,106		300,703
交易帳戶負債		98,316		100,345		102,820
衍生工具負債		43,131		40,508		40,855
短期借款		38,440		40,429		40,196
應計費用及其他負債		222,400		213,751		206,492
長期債務		296,927		290,474		290,359
負債合計		3,027,524		2,964,104		2,866,026
股東權益
優先股，0.01美元面值；已授權-100,000,000 股；已發行並流通- 3,933,917，4,013,928和4,088,099股		24,554		26,548		28,397
普通股和額外的股本，0.01美元面值；已授權-12,800,000,000 股；已發行並流通- 7,688,767,832, 7,774,753,442股和7,923,357,339股		48,338		51,376		56,710
保留盈餘		237,954		233,597		223,749
累計其他綜合收益(虧損)		(14,334)		(17,629)		(21,792)
股東權益合計		296,512		293,892		287,064
負債和股東權益總計		$	3,324,036	$	3,257,996	$	3,153,090

	合併的可變利益實體資產包括在上述總資產中（用於清償可變利益實體的負債）
	交易帳戶資產	$	6,280	$	5,647	$	4,654
	貸款和租賃	19,267		19,827		16,902
	貸款和租賃損失撥備	(923)		(917)		(809)
	貸款和租賃淨額，扣除準備金	18,344		18,910		16,093

	所有板塊的其他資產	278		281		222
	綜合變量利益實體的總資產	$	24,902	$	24,838	$	20,969

	包括在上述總負債中的綜合變量利益實體的負債
	短期借款	$	3,542	$	3,343	$	2,059
	長期債務	8,873		9,137		6,566
	所有其他負債	22		22		12
	合併變量利益實體的總負債	$	12,437	$	12,502	$	8,637


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


Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	September 30 2024			June 30 2024			September 30 2023
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	199,805		$	198,119		$	194,230
Tier 1 capital	222,942			224,641			222,623
Total capital	252,352			251,434			251,137
Risk-weighted assets	1,690,159			1,661,439			1,632,414
Common equity tier 1 capital ratio	11.8		%	11.9		%	11.9		%
Tier 1 capital ratio	13.2			13.5			13.6
Total capital ratio	14.9			15.1			15.4

Advanced Approaches
Common equity tier 1 capital	$	199,805		$	198,119		$	194,230
Tier 1 capital	222,942			224,641			222,623
Total capital	241,764			241,423			241,712
Risk-weighted assets	1,484,387			1,468,729			1,441,478
Common equity tier 1 capital ratio	13.5		%	13.5		%	13.5		%
Tier 1 capital ratio	15.0			15.3			15.4
Total capital ratio	16.3			16.4			16.8

Leverage-based metrics (1):
Adjusted average assets	$	3,217,562		$	3,196,465		$	3,050,808
Tier 1 leverage ratio	6.9		%	7.0		%	7.3		%

Supplementary leverage exposure	$	3,787,670		$	3,756,535		$	3,597,412
Supplementary leverage ratio	5.9		%	6.0		%	6.2		%

Total ending equity to total ending assets ratio	8.9			9.0			9.1
Common equity ratio	8.2			8.2			8.2
Tangible equity ratio (2)	7.0			7.0			7.0
Tangible common equity ratio (2)	6.2			6.2			6.1

(1)Regulatory capital ratios at September 30, 2024 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.

(2)Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 33.)


Current-period information is preliminary and based on company data available at the time of the presentation.			6


Bank of America Corporation and Subsidiaries
Capital Composition under Basel 3
(Dollars in millions)
	September 30 2024		June 30 2024		September 30 2023
Total common shareholders' equity	$	271,958	$	267,344	$	258,667
CECL transitional amount (1)	627		627		1,254
Goodwill, net of related deferred tax liabilities	(68,648)		(68,648)		(68,644)
Deferred tax assets arising from net operating loss and tax credit carryforwards	(8,188)		(8,074)		(7,778)
Intangibles, other than mortgage servicing rights, net of related deferred tax liabilities	(1,453)		(1,467)		(1,508)
Defined benefit pension plan net assets, net-of-tax	(801)		(787)		(911)
Cumulative unrealized net (gain) loss related to changes in fair value of financial liabilities attributable to own creditworthiness, net-of-tax	1,509		1,511		967
Accumulated net (gain) loss on certain cash flow hedges (2)	4,926		7,762		12,251
Other	(125)		(149)		(68)
Common equity tier 1 capital	199,805		198,119		194,230
Qualifying preferred stock, net of issuance cost	23,158		26,547		28,396
Other	(21)		(25)		(3)
Tier 1 capital	222,942		224,641		222,623
Tier 2 capital instruments	16,168		13,583		15,981
Qualifying allowance for credit losses (3)	13,575		13,564		13,007
Other	(333)		(354)		(474)
Total capital under the Standardized approach	252,352		251,434		251,137
Adjustment in qualifying allowance for credit losses under the Advanced approaches (3)	(10,588)		(10,011)		(9,425)
Total capital under the Advanced approaches	$	241,764	$	241,423	$	241,712

(1)September 30, 2024, June 30, 2024 and September 30, 2023 include 25 percent, 25 percent and 50 percent of the current expected credit losses (CECL) transition provision’s impact as of December 31, 2021, respectively.

(2)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.

(3)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.			7


Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Third Quarter 2024						Second Quarter 2024						Third Quarter 2023
	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	$	320,781	$	4,129	5.12	%	$	345,423	$	4,498	5.24	%	$	353,183	$	4,613	5.18	%
Time deposits placed and other short-term investments	10,031		108		4.29		10,845		123		4.55		8,629		113		5.20
Federal funds sold and securities borrowed or purchased under agreements to resell	323,119		5,196		6.40		318,380		5,159		6.52		287,403		4,888		6.75
Trading account assets	214,980		2,749		5.09		202,295		2,542		5.05		191,283		2,244		4.66
Debt securities	883,562		6,859		3.08		852,427		6,352		2.98		752,569		4,685		2.47
Loans and leases (2)
Residential mortgage	227,800		1,872		3.29		227,567		1,824		3.21		229,001		1,745		3.04
Home equity	25,664		418		6.48		25,529		405		6.38		25,661		390		6.04
Credit card	99,908		2,924		11.64		98,983		2,825		11.48		98,049		2,727		11.03

Direct/Indirect and other consumer	104,732		1,512		5.74		103,689		1,428		5.54		104,134		1,354		5.16

Total consumer	458,104		6,726		5.85		455,768		6,482		5.71		456,845		6,216		5.41
U.S. commercial	391,728		5,358		5.44		386,232		5,267		5.49		377,728		5,061		5.32
Non-U.S. commercial	125,377		2,222		7.05		123,094		2,170		7.09		123,781		2,088		6.69
Commercial real estate	69,404		1,275		7.31		71,345		1,285		7.24		74,088		1,364		7.30
Commercial lease financing	15,115		201		5.30		15,033		196		5.22		13,812		166		4.79
Total commercial	601,624		9,056		5.99		595,704		8,918		6.02		589,409		8,679		5.84
Total loans and leases	1,059,728		15,782		5.93		1,051,472		15,400		5.89		1,046,254		14,895		5.65
Other earning assets	105,496		2,815		10.62		107,093		2,940		11.04		99,378		2,339		9.35
Total earning assets	2,917,697		37,638		5.14		2,887,935		37,014		5.15		2,738,699		33,777		4.90
Cash and due from banks	23,435						24,208						25,772
Other assets, less allowance for loan and lease losses	355,039						362,845						363,995
Total assets	$	3,296,171					$	3,274,988					$	3,128,466
Interest-bearing liabilities
U.S. interest-bearing deposits

Demand and money market deposits	$	943,550	$	5,497	2.32	%	$	941,109	$	5,234	2.24	%	$	942,368	$	4,304	1.81	%

Time and savings deposits	359,631		3,473		3.84		348,689		3,331		3.84		271,425		2,149		3.14
Total U.S. interest-bearing deposits	1,303,181		8,970		2.74		1,289,798		8,565		2.67		1,213,793		6,453		2.11




Non-U.S. interest-bearing deposits	110,527		1,155		4.16		106,496		1,090		4.12		97,095		887		3.63
Total interest-bearing deposits	1,413,708		10,125		2.85		1,396,294		9,655		2.78		1,310,888		7,340		2.22
Federal funds purchased and securities loaned or sold under agreements to repurchase	383,334		6,193		6.43		371,372		6,171		6.68		294,878		5,342		7.19
Short-term borrowings and other interest-bearing liabilities	147,579		2,747		7.41		152,742		2,899		7.64		140,513		2,287		6.45
Trading account liabilities	52,973		538		4.04		53,895		540		4.03		48,084		510		4.21
Long-term debt	247,338		3,921		6.32		243,689		3,887		6.40		245,819		3,766		6.10
Total interest-bearing liabilities	2,244,932		23,524		4.17		2,217,992		23,152		4.20		2,040,182		19,245		3.75
Noninterest-bearing sources
Noninterest-bearing deposits	507,040						513,631						565,265
Other liabilities (3)	249,214						249,962						238,044
Shareholders’ equity	294,985						293,403						284,975
Total liabilities and shareholders’ equity	$	3,296,171					$	3,274,988					$	3,128,466
Net interest spread					0.97	%					0.95	%					1.15	%
Impact of noninterest-bearing sources					0.95						0.98						0.96
Net interest income/yield on earning assets (4)			$	14,114	1.92	%			$	13,862	1.93	%			$	14,532	2.11	%

(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 $49.5 billion, $46.6 billion and $41.1 billion of structured notes and liabilities for the third and second quarters of 2024 and the third quarter of 2023, respectively.

(4)Net interest income includes FTE adjustments of $147 million, $160 million and $153 million for the third and second quarters of 2024 and the third quarter of 2023, respectively.


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


Bank of America Corporation and Subsidiaries
Debt Securities
(Dollars in millions)
	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	36,899	$	16	$	(1,404)	$	35,511
Agency-collateralized mortgage obligations	16,640		21		(157)		16,504
Commercial	18,437		76		(444)		18,069
Non-agency residential	298		51		(53)		296
Total mortgage-backed securities	72,274		164		(2,058)		70,380
U.S. Treasury and government agencies	211,314		255		(1,374)		210,195
Non-U.S. securities	22,884		52		(22)		22,914
Other taxable securities	2,637		2		(30)		2,609

Tax-exempt securities	9,764		34		(177)		9,621
Total available-for-sale debt securities	318,873		507		(3,661)		315,719
Other debt securities carried at fair value (1)	9,555		219		(57)		9,717
Total debt securities carried at fair value	328,428		726		(3,718)		325,436
Held-to-maturity debt securities
Agency mortgage-backed securities	438,824		—		(69,878)		368,946
U.S. Treasury and government agencies	121,683		—		(14,929)		106,754
Other taxable securities	7,082		1		(896)		6,187
Total held-to-maturity debt securities	567,589		1		(85,703)		481,887
Total debt securities	$	896,017	$	727	$	(89,421)	$	807,323


	June 30, 2024
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	37,022	$	4	$	(1,664)	$	35,362
Agency-collateralized mortgage obligations	9,652		17		(225)		9,444
Commercial	12,421		69		(469)		12,021
Non-agency residential	303		46		(64)		285
Total mortgage-backed securities	59,398		136		(2,422)		57,112
U.S. Treasury and government agencies	201,441		22		(1,183)		200,280
Non-U.S. securities	21,396		12		(23)		21,385
Other taxable securities	2,246		2		(54)		2,194

Tax-exempt securities	10,542		11		(229)		10,324
Total available-for-sale debt securities	295,023		183		(3,911)		291,295
Other debt securities carried at fair value (1)	9,789		62		(95)		9,756
Total debt securities carried at fair value	304,812		245		(4,006)		301,051
Held-to-maturity debt securities
Agency mortgage-backed securities	448,483		—		(89,989)		358,494
U.S. Treasury and government agencies	121,670		—		(19,651)		102,019
Other taxable securities	7,249		—		(1,126)		6,123
Total held-to-maturity debt securities	577,402		—		(110,766)		466,636
Total debt securities	$	882,214	$	245	$	(114,772)	$	767,687

(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.			9


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

	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023






FTE basis data (1)
Net interest income	$	42,166		$	43,407		$	14,114		$	13,862		$	14,190		$	14,091		$	14,532
Total revenue, net of interest expense	77,005			77,044			25,492			25,537			25,976			22,104			25,320
Net interest yield	1.95		%	2.12		%	1.92		%	1.93		%	1.99		%	1.97		%	2.11		%
Efficiency ratio	64.96			62.45			64.64			63.86			66.36			80.22			62.55

(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 $465 million and $422 million for the nine months ended September 30, 2024 and 2023, $147 million, $160 million, and $158 million for the third, second, and first quarters of 2024, and $145 million and $153 million for the fourth and third quarters of 2023, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			10


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Third Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	14,114	$	8,278	$	1,709	$	3,230	$	898	$	(1)
Noninterest income
Fees and commissions:
Card income	1,618		1,402		9		200		14		(7)
Service charges	1,552		631		24		802		95		—
Investment and brokerage services	4,546		80		3,874		31		562		(1)
Investment banking fees	1,403		—		64		783		589		(33)
Total fees and commissions	9,119		2,113		3,971		1,816		1,260		(41)
Market making and similar activities	3,278		5		35		66		3,349		(177)
Other income (loss)	(1,019)		22		47		722		123		(1,933)
Total noninterest income (loss)	11,378		2,140		4,053		2,604		4,732		(2,151)
Total revenue, net of interest expense	25,492		10,418		5,762		5,834		5,630		(2,152)
Provision for credit losses	1,542		1,302		7		229		7		(3)
Noninterest expense	16,479		5,534		4,340		2,991		3,443		171
Income (loss) before income taxes	7,471		3,582		1,415		2,614		2,180		(2,320)
Income tax expense (benefit)	575		895		354		719		632		(2,025)
Net income (loss)	$	6,896	$	2,687	$	1,061	$	1,895	$	1,548	$	(295)

Average
Total loans and leases	$	1,059,728	$	313,781	$	225,355	$	371,216	$	140,806	$	8,570
Total assets (1)	3,296,171		1,019,085		322,924		647,541		924,093		382,528
Total deposits	1,920,748		938,364		279,999		549,629		34,952		117,804
Period end
Total loans and leases	$	1,075,800	$	316,097	$	227,318	$	375,159	$	148,447	$	8,779
Total assets (1)	3,324,036		1,026,293		328,831		650,936		957,970		360,006
Total deposits	1,930,352		944,358		283,432		556,953		35,142		110,467

	Second Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	13,862	$	8,118	$	1,693	$	3,275	$	770	$	6
Noninterest income
Fees and commissions:
Card income	1,581		1,361		9		198		20		(7)
Service charges	1,507		614		24		775		93		1
Investment and brokerage services	4,320		78		3,707		21		516		(2)
Investment banking fees	1,561		—		57		835		719		(50)
Total fees and commissions	8,969		2,053		3,797		1,829		1,348		(58)
Market making and similar activities	3,298		6		38		78		3,218		(42)
Other income (loss)	(592)		29		46		871		123		(1,661)
Total noninterest income (loss)	11,675		2,088		3,881		2,778		4,689		(1,761)
Total revenue, net of interest expense	25,537		10,206		5,574		6,053		5,459		(1,755)
Provision for credit losses	1,508		1,281		7		235		(13)		(2)
Noninterest expense	16,309		5,464		4,199		2,899		3,486		261
Income (loss) before income taxes	7,720		3,461		1,368		2,919		1,986		(2,014)
Income tax expense (benefit)	823		866		342		803		576		(1,764)
Net income (loss)	$	6,897	$	2,595	$	1,026	$	2,116	$	1,410	$	(250)

Average
Total loans and leases	$	1,051,472	$	312,254	$	222,776	$	372,738	$	135,106	$	8,598
Total assets (1)	3,274,988		1,029,777		330,958		624,189		908,525		381,539
Total deposits	1,909,925		949,180		287,678		525,357		31,944		115,766
Period end
Total loans and leases	$	1,056,785	$	312,801	$	224,837	$	372,421	$	138,441	$	8,285
Total assets (1)	3,257,996		1,033,960		324,476		620,217		887,162		392,181
Total deposits	1,910,491		952,473		281,283		522,525		33,151		121,059

(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.			11


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Third Quarter 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	14,532	$	8,391	$	1,755	$	3,613	$	674	$	99
Noninterest income
Fees and commissions:
Card income	1,520		1,325		9		197		16		(27)
Service charges	1,464		605		20		754		85		—
Investment and brokerage services	3,963		80		3,396		14		475		(2)
Investment banking fees	1,188		—		45		743		463		(63)
Total fees and commissions	8,135		2,010		3,470		1,708		1,039		(92)
Market making and similar activities	3,325		5		34		21		3,195		70
Other income (loss)	(672)		66		62		861		34		(1,695)
Total noninterest income (loss)	10,788		2,081		3,566		2,590		4,268		(1,717)
Total revenue, net of interest expense	25,320		10,472		5,321		6,203		4,942		(1,618)
Provision for credit losses	1,234		1,397		(6)		(119)		(14)		(24)
Noninterest expense	15,838		5,256		3,950		2,804		3,235		593
Income (loss) before income taxes	8,248		3,819		1,377		3,518		1,721		(2,187)
Income tax expense (benefit)	446		955		344		950		473		(2,276)
Net income (loss)	$	7,802	$	2,864	$	1,033	$	2,568	$	1,248	$	89

Average
Total loans and leases	$	1,046,254	$	310,761	$	218,569	$	376,214	$	131,298	$	9,412
Total assets (1)	3,128,466		1,059,152		335,124		601,378		863,653		269,159
Total deposits	1,876,153		980,051		291,770		504,432		31,890		68,010
Period end
Total loans and leases	$	1,049,149	$	313,216	$	218,913	$	373,351	$	134,386	$	9,283
Total assets (1)	3,153,090		1,062,038		333,779		588,578		864,792		303,903
Total deposits	1,884,601		982,302		290,732		494,938		31,041		85,588

(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.			12


Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Nine Months Ended September 30, 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	42,166	$	24,593	$	5,216	$	9,965	$	2,349	$	43
Noninterest income
Fees and commissions:
Card income	4,662		4,035		28		586		51		(38)
Service charges	4,501		1,823		71		2,327		278		2
Investment and brokerage services	13,053		236		11,181		70		1,573		(7)
Investment banking fees	4,532		—		184		2,468		2,016		(136)
Total fees and commissions	26,748		6,094		11,464		5,451		3,918		(179)
Market making and similar activities	10,464		16		107		212		10,397		(268)
Other income (loss)	(2,373)		87		140		2,239		308		(5,147)
Total noninterest income (loss)	34,839		6,197		11,711		7,902		14,623		(5,594)
Total revenue, net of interest expense	77,005		30,790		16,927		17,867		16,972		(5,551)
Provision for credit losses	4,369		3,733		1		693		(42)		(16)
Noninterest expense	50,025		16,473		12,803		8,902		10,421		1,426
Income (loss) before income taxes	22,611		10,584		4,123		8,272		6,593		(6,961)
Income tax expense (benefit)	2,144		2,646		1,031		2,275		1,912		(5,720)
Net income (loss)	$	20,467	$	7,938	$	3,092	$	5,997	$	4,681	$	(1,241)

Average
Total loans and leases	$	1,053,055	$	313,027	$	222,260	$	372,516	$	136,572	$	8,680
Total assets (1)	3,272,856		1,027,291		331,635		631,659		909,386		372,885
Total deposits	1,912,741		946,640		288,319		533,620		33,167		110,995
Period end
Total loans and leases	$	1,075,800	$	316,097	$	227,318	$	375,159	$	148,447	$	8,779
Total assets (1)	3,324,036		1,026,293		328,831		650,936		957,970		360,006
Total deposits	1,930,352		944,358		283,432		556,953		35,142		110,467

	Nine Months Ended September 30, 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	43,407	$	25,421	$	5,436	$	11,210	$	1,080	$	260
Noninterest income
Fees and commissions:
Card income	4,535		3,940		33		587		51		(76)
Service charges	4,238		1,729		57		2,203		248		1
Investment and brokerage services	11,654		230		9,885		37		1,507		(5)
Investment banking fees	3,563		—		124		2,129		1,435		(125)
Total fees and commissions	23,990		5,899		10,099		4,956		3,241		(205)
Market making and similar activities	11,734		15		100		135		11,002		482
Other income (loss)	(2,087)		367		243		2,567		116		(5,380)
Total noninterest income (loss)	33,637		6,281		10,442		7,658		14,359		(5,103)
Total revenue, net of interest expense	77,044		31,702		15,878		18,868		15,439		(4,843)
Provision for credit losses	3,290		3,753		32		(347)		(71)		(77)
Noninterest expense	48,114		16,182		11,942		8,563		9,935		1,492
Income (loss) before income taxes	25,640		11,767		3,904		10,652		5,575		(6,258)
Income tax expense (benefit)	2,269		2,942		976		2,876		1,533		(6,058)
Net income (loss)	$	23,371	$	8,825	$	2,928	$	7,776	$	4,042	$	(200)

Average
Total loans and leases	$	1,044,756	$	307,091	$	219,530	$	380,076	$	128,317	$	9,742
Total assets (1)	3,133,415		1,083,120		344,709		595,329		870,366		239,891
Total deposits	1,881,655		1,004,041		300,308		498,224		33,725		45,357
Period end
Total loans and leases	$	1,049,149	$	313,216	$	218,913	$	373,351	$	134,386	$	9,283
Total assets (1)	3,153,090		1,062,038		333,779		588,578		864,792		303,903
Total deposits	1,884,601		982,302		290,732		494,938		31,041		85,588

(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.			13


Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Net interest income	$	24,593		$	25,421		$	8,278		$	8,118		$	8,197		$	8,268		$	8,391
Noninterest income:
Card income	4,035			3,940			1,402			1,361			1,272			1,324			1,325
Service charges	1,823			1,729			631			614			578			588			605

All other income	339			612			107			113			119			149			151
Total noninterest income	6,197			6,281			2,140			2,088			1,969			2,061			2,081
Total revenue, net of interest expense	30,790			31,702			10,418			10,206			10,166			10,329			10,472

Provision for credit losses	3,733			3,753			1,302			1,281			1,150			1,405			1,397

Noninterest expense	16,473			16,182			5,534			5,464			5,475			5,234			5,256
Income before income taxes	10,584			11,767			3,582			3,461			3,541			3,690			3,819
Income tax expense	2,646			2,942			895			866			885			922			955
Net income	$	7,938		$	8,825		$	2,687		$	2,595		$	2,656		$	2,768		$	2,864

Net interest yield	3.32		%	3.26		%	3.35		%	3.29		%	3.31		%	3.28		%	3.26		%
Return on average allocated capital (1)	25			28			25			24			25			26			27
Efficiency ratio	53.50			51.05			53.12			53.54			53.86			50.71			50.18

Balance Sheet
Average
Total loans and leases	$	313,027		$	307,091		$	313,781		$	312,254		$	313,038		$	313,438		$	310,761
Total earning assets (2)	989,944			1,043,476			982,058			992,304			995,556			1,000,032			1,019,980
Total assets (2)	1,027,291			1,083,120			1,019,085			1,029,777			1,033,101			1,038,418			1,059,152
Total deposits	946,640			1,004,041			938,364			949,180			952,466			959,247			980,051
Allocated capital (1)	43,250			42,000			43,250			43,250			43,250			42,000			42,000

Period end
Total loans and leases	$	316,097		$	313,216		$	316,097		$	312,801		$	311,725		$	315,119		$	313,216
Total earning assets (2)	988,856			1,023,162			988,856			995,348			1,022,320			1,009,360			1,023,162
Total assets (2)	1,026,293			1,062,038			1,026,293			1,033,960			1,060,482			1,049,830			1,062,038
Total deposits	944,358			982,302			944,358			952,473			978,761			969,572			982,302

(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.			14


Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Average deposit balances
Checking	$	546,778		$	572,939		$	542,267		$	549,514		$	548,604		$	551,890		$	562,319
Savings	55,932			65,585			54,128			56,285			57,401			58,975			62,352
MMS	257,061			318,042			248,200			257,023			266,056			277,912			296,833
CDs and IRAs	83,145			43,459			90,172			82,566			76,621			66,758			54,596
Other	3,724			4,016			3,597			3,792			3,784			3,712			3,951
Total average deposit balances	$	946,640		$	1,004,041		$	938,364		$	949,180		$	952,466		$	959,247		$	980,051

Deposit spreads (excludes noninterest costs)
Checking	2.61		%	2.30		%	2.71		%	2.62		%	2.50		%	2.47		%	2.38		%
Savings	2.89			2.65			2.98			2.90			2.80			2.90			2.77
MMS	3.26			3.24			3.32			3.28			3.20			3.64			3.49
CDs and IRAs	1.96			2.87			1.85			2.00			2.04			2.25			2.55
Other	5.14			4.74			5.07			5.18			5.19			5.21			5.05
Total deposit spreads	2.76			2.66			2.81			2.77			2.69			2.83			2.76

Consumer investment assets	$	496,582		$	387,467		$	496,582		$	476,116		$	456,391		$	424,410		$	387,467

Active digital banking users (in thousands) (1)	47,830			45,797			47,830			47,304			47,079			46,265			45,797
Active mobile banking users (in thousands) (2)	39,638			37,487			39,638			38,988			38,544			37,927			37,487
Financial centers	3,741			3,862			3,741			3,786			3,804			3,845			3,862
ATMs	14,900			15,253			14,900			14,972			15,028			15,168			15,253

Total credit card (3)
Loans
Average credit card outstandings	$	99,570		$	94,775		$	99,908		$	98,983		$	99,815		$	100,389		$	98,049
Ending credit card outstandings	100,842			99,686			100,842			99,450			98,453			102,200			99,686
Credit quality
Net charge-offs	$	2,782		$	1,784		$	928		$	955		$	899		$	777		$	673
	3.73		%	2.52		%	3.70		%	3.88		%	3.62		%	3.07		%	2.72		%
30+ delinquency	$	2,563		$	2,097		$	2,563		$	2,415		$	2,446		$	2,419		$	2,097
	2.54		%	2.10		%	2.54		%	2.43		%	2.48		%	2.37		%	2.10		%
90+ delinquency	$	1,306		$	1,016		$	1,306		$	1,257		$	1,299		$	1,224		$	1,016
	1.30		%	1.02		%	1.30		%	1.26		%	1.32		%	1.20		%	1.02		%
Other total credit card indicators (3)
Gross interest yield	12.35		%	11.85		%	12.49		%	12.32		%	12.24		%	11.97		%	12.03		%
Risk-adjusted margin	6.93			8.06			7.22			6.75			6.81			7.18			7.70
New accounts (in thousands)	2,919			3,386			970			951			998			889			1,062
Purchase volumes	$	272,899		$	270,358		$	92,592		$	93,296		$	87,011		$	92,759		$	91,711

Debit card data
Purchase volumes	$	412,105		$	390,891		$	139,352		$	140,346		$	132,407		$	136,183		$	133,553

Loan production (4)
Consumer Banking:
First mortgage	$	7,068		$	7,392		$	2,684		$	2,696		$	1,688		$	1,753		$	2,547
Home equity	5,524			6,389			1,897			2,027			1,600			1,939			2,035
Total (5):
First mortgage	$	14,519		$	15,473		$	5,348		$	5,728		$	3,443		$	3,932		$	5,596
Home equity	6,573			7,559			2,289			2,393			1,891			2,255			2,421

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

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

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

(4) 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.

(5) 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.			15


Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Third Quarter 2024									Second Quarter 2024
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	8,278		$	5,271		$	3,007		$	8,118		$	5,220		$	2,898
Noninterest income:
Card income	1,402			(10)			1,412			1,361			(10)			1,371
Service charges	631			630			1			614			614			—
All other income	107			91			16			113			95			18
Total noninterest income	2,140			711			1,429			2,088			699			1,389
Total revenue, net of interest expense	10,418			5,982			4,436			10,206			5,919			4,287

Provision for credit losses	1,302			57			1,245			1,281			74			1,207

Noninterest expense	5,534			3,433			2,101			5,464			3,385			2,079
Income before income taxes	3,582			2,492			1,090			3,461			2,460			1,001
Income tax expense	895			622			273			866			616			250
Net income	$	2,687		$	1,870		$	817		$	2,595		$	1,844		$	751

Net interest yield	3.35		%	2.24		%	3.86		%	3.29		%	2.22		%	3.78		%
Return on average allocated capital (1)	25			54			11			24			54			10
Efficiency ratio	53.12			57.39			47.37			53.54			57.20			48.49

Balance Sheet
Average
Total loans and leases	$	313,781		$	4,383		$	309,398		$	312,254		$	4,299		$	307,955
Total earning assets (2)	982,058			935,946			309,563			992,304			946,784			308,116
Total assets (2)	1,019,085			968,192			314,344			1,029,777			979,302			313,070
Total deposits	938,364			933,227			5,137			949,180			944,363			4,817
Allocated capital (1)	43,250			13,700			29,550			43,250			13,700			29,550

Period end
Total loans and leases	$	316,097		$	4,492		$	311,605		$	312,801		$	4,357		$	308,444
Total earning assets (2)	988,856			942,038			311,805			995,348			948,823			308,592
Total assets (2)	1,026,293			974,614			316,667			1,033,960			981,546			314,481
Total deposits	944,358			939,050			5,308			952,473			946,420			6,053

										Third Quarter 2023
										Total Consumer Banking			Deposits			Consumer Lending
Net interest income										$	8,391		$	5,571		$	2,820
Noninterest income:
Card income										1,325			(11)			1,336
Service charges										605			605			—
All other income										151			116			35
Total noninterest income										2,081			710			1,371
Total revenue, net of interest expense										10,472			6,281			4,191

Provision for credit losses										1,397			128			1,269

Noninterest expense										5,256			3,240			2,016
Income before income taxes										3,819			2,913			906
Income tax expense										955			729			226
Net income										$	2,864		$	2,184		$	680

Net interest yield										3.26		%	2.26		%	3.65		%
Return on average allocated capital (1)										27			63			10
Efficiency ratio										50.18			51.60			48.06

Balance Sheet
Average
Total loans and leases										$	310,761		$	4,139		$	306,622
Total earning assets (2)										1,019,980			975,968			306,982
Total assets (2)										1,059,152			1,009,390			312,731
Total deposits										980,051			974,674			5,377
Allocated capital (1)										42,000			13,700			28,300

Period end
Total loans and leases										$	313,216		$	4,165		$	309,051
Total earning assets (2)										1,023,162			978,133			309,527
Total assets (2)										1,062,038			1,010,771			315,765
Total deposits										982,302			976,007			6,295

(2) For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments’ and businesses’ liabilities and allocated shareholders’ equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.


Current-period information is preliminary and based on company data available at the time of the presentation.			16


Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Nine Months Ended September 30
	2024									2023
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	24,593		$	15,760		$	8,833		$	25,421		$	17,120		$	8,301
Noninterest income:
Card income	4,035			(30)			4,065			3,940			(31)			3,971
Service charges	1,823			1,821			2			1,729			1,727			2
All other income	339			288			51			612			490			122
Total noninterest income	6,197			2,079			4,118			6,281			2,186			4,095
Total revenue, net of interest expense	30,790			17,839			12,951			31,702			19,306			12,396

Provision for credit losses	3,733			207			3,526			3,753			414			3,339

Noninterest expense	16,473			10,196			6,277			16,182			10,082			6,100
Income before income taxes	10,584			7,436			3,148			11,767			8,810			2,957
Income tax expense	2,646			1,859			787			2,942			2,203			739
Net income	$	7,938		$	5,577		$	2,361		$	8,825		$	6,607		$	2,218

Net interest yield	3.32		%	2.23		%	3.82		%	3.26		%	2.29		%	3.66		%
Return on average allocated capital (1)	25			54			11			28			64			11
Efficiency ratio	53.50			57.16			48.47			51.05			52.23			49.21

Balance Sheet
Average
Total loans and leases	$	313,027		$	4,308		$	308,719		$	307,091		$	4,113		$	302,978
Total earning assets (2)	989,944			944,277			308,867			1,043,476			1,000,143			303,266
Total assets (2)	1,027,291			976,752			313,739			1,083,120			1,033,618			309,435
Total deposits	946,640			941,780			4,860			1,004,041			998,947			5,094
Allocated capital (1)	43,250			13,700			29,550			42,000			13,700			28,300

Period end
Total loans and leases	$	316,097		$	4,492		$	311,605		$	313,216		$	4,165		$	309,051
Total earning assets (2)	988,856			942,038			311,805			1,023,162			978,133			309,527
Total assets (2)	1,026,293			974,614			316,667			1,062,038			1,010,771			315,765
Total deposits	944,358			939,050			5,308			982,302			976,007			6,295

For footnotes, see page 16.


Current-period information is preliminary and based on company data available at the time of the presentation.			17


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Net interest income	$	5,216		$	5,436		$	1,709		$	1,693		$	1,814		$	1,711		$	1,755
Noninterest income:
Investment and brokerage services	11,181			9,885			3,874			3,707			3,600			3,328			3,396
All other income	530			557			179			174			177			188			170
Total noninterest income	11,711			10,442			4,053			3,881			3,777			3,516			3,566
Total revenue, net of interest expense	16,927			15,878			5,762			5,574			5,591			5,227			5,321

Provision for credit losses	1			32			7			7			(13)			(26)			(6)

Noninterest expense	12,803			11,942			4,340			4,199			4,264			3,894			3,950
Income before income taxes	4,123			3,904			1,415			1,368			1,340			1,359			1,377
Income tax expense	1,031			976			354			342			335			340			344
Net income	$	3,092		$	2,928		$	1,061		$	1,026		$	1,005		$	1,019		$	1,033

Net interest yield	2.19		%	2.19		%	2.20		%	2.15		%	2.23		%	2.10		%	2.16		%
Return on average allocated capital (1)	22			21			23			22			22			22			22

Efficiency ratio	75.64			75.21			75.32			75.34			76.27			74.41			74.28

Balance Sheet
Average
Total loans and leases	$	222,260		$	219,530		$	225,355		$	222,776		$	218,616		$	219,425		$	218,569
Total earning assets (2)	318,026			331,738			309,231			317,250			327,692			322,827			322,032
Total assets (2)	331,635			344,709			322,924			330,958			341,119			336,067			335,124
Total deposits	288,319			300,308			279,999			287,678			297,373			292,478			291,770
Allocated capital (1)	18,500			18,500			18,500			18,500			18,500			18,500			18,500


Period end
Total loans and leases	$	227,318		$	218,913		$	227,318		$	224,837		$	219,844		$	219,657		$	218,913
Total earning assets (2)	314,594			320,196			314,594			310,055			329,515			330,653			320,196
Total assets (2)	328,831			333,779			328,831			324,476			343,718			344,626			333,779
Total deposits	283,432			290,732			283,432			281,283			298,039			299,657			290,732

(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.			18


Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions)
	Nine Months Ended September 30				Third Quarter 2024		Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023
	2024		2023
Revenue by Business
Merrill Wealth Management	$	14,059	$	13,135	$	4,789	$	4,623	$	4,647	$	4,326	$	4,398
Bank of America Private Bank	2,868		2,743		973		951		944		901		923

Total revenue, net of interest expense	$	16,927	$	15,878	$	5,762	$	5,574	$	5,591	$	5,227	$	5,321

Client Balances by Business, at period end
Merrill Wealth Management	$	3,527,319	$	2,978,229	$	3,527,319	$	3,371,418	$	3,339,693	$	3,182,735	$	2,978,229
Bank of America Private Bank	666,622		572,624		666,622		640,467		633,697		606,639		572,624

Total client balances	$	4,193,941	$	3,550,853	$	4,193,941	$	4,011,885	$	3,973,390	$	3,789,374	$	3,550,853

Client Balances by Type, at period end


Assets under management (1)	$	1,861,124	$	1,496,601	$	1,861,124	$	1,758,875	$	1,730,005	$	1,617,740	$	1,496,601
Brokerage and other assets	1,856,806		1,578,123		1,856,806		1,779,881		1,758,642		1,688,923		1,578,123

Deposits	283,432		290,732		283,432		281,283		298,039		299,657		290,732
Loans and leases (2)	230,062		221,684		230,062		227,657		222,528		222,287		221,684
Less: Managed deposits in assets under management	(37,483)		(36,287)		(37,483)		(35,811)		(35,824)		(39,233)		(36,287)
Total client balances	$	4,193,941	$	3,550,853	$	4,193,941	$	4,011,885	$	3,973,390	$	3,789,374	$	3,550,853

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,617,740	$	1,401,474	$	1,758,875	$	1,730,005	$	1,617,740	$	1,496,601	$	1,531,042
Net client flows	56,734		43,784		21,289		10,790		24,655		8,443		14,226

Market valuation/other	186,650		51,343		80,960		18,080		87,610		112,696		(48,667)
Total assets under management, ending balance	$	1,861,124	$	1,496,601	$	1,861,124	$	1,758,875	$	1,730,005	$	1,617,740	$	1,496,601

(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.			19


Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Net interest income	$	9,965		$	11,210		$	3,230		$	3,275		$	3,460		$	3,435		$	3,613
Noninterest income:
Service charges	2,327			2,203			802			775			750			749			754
Investment banking fees	2,468			2,129			783			835			850			690			743
All other income	3,107			3,326			1,019			1,168			920			1,054			1,093
Total noninterest income	7,902			7,658			2,604			2,778			2,520			2,493			2,590
Total revenue, net of interest expense	17,867			18,868			5,834			6,053			5,980			5,928			6,203

Provision for credit losses	693			(347)			229			235			229			(239)			(119)

Noninterest expense	8,902			8,563			2,991			2,899			3,012			2,781			2,804
Income before income taxes	8,272			10,652			2,614			2,919			2,739			3,386			3,518
Income tax expense	2,275			2,876			719			803			753			914			950
Net income	$	5,997		$	7,776		$	1,895		$	2,116		$	1,986		$	2,472		$	2,568

Net interest yield	2.36		%	2.84		%	2.22		%	2.37		%	2.50		%	2.45		%	2.68		%
Return on average allocated capital (1)	16			21			15			17			16			20			21
Efficiency ratio	49.82			45.38			51.27			47.88			50.37			46.92			45.22

Balance Sheet
Average
Total loans and leases	$	372,516		$	380,076		$	371,216		$	372,738		$	373,608		$	374,862		$	376,214
Total earning assets (2)	563,649			528,205			578,988			555,834			555,957			557,147			534,153
Total assets (2)	631,659			595,329			647,541			624,189			623,073			624,093			601,378
Total deposits	533,620			498,224			549,629			525,357			525,699			527,597			504,432
Allocated capital (1)	49,250			49,250			49,250			49,250			49,250			49,250			49,250

Period end
Total loans and leases	$	375,159		$	373,351		$	375,159		$	372,421		$	373,403		$	373,891		$	373,351
Total earning assets (2)	583,742			521,423			583,742			550,525			554,253			552,453			521,423
Total assets (2)	650,936			588,578			650,936			620,217			623,204			621,751			588,578
Total deposits	556,953			494,938			556,953			522,525			527,113			527,060			494,938

(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.			20


Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Investment Banking fees (1)
Advisory (2)	$	990		$	1,042		$	351		$	322		$	317		$	350		$	396
Debt issuance	1,078			808			332			363			383			265			255
Equity issuance	400			279			100			150			150			75			92
Total Investment Banking fees (3)	$	2,468		$	2,129		$	783		$	835		$	850		$	690		$	743

Business Lending
Corporate	$	3,427		$	3,693		$	1,102		$	1,260		$	1,065		$	1,235		$	1,300
Commercial	3,773			3,765			1,246			1,247			1,280			1,251			1,262
Business Banking	174			191			57			58			59			62			61
Total Business Lending revenue	$	7,374		$	7,649		$	2,405		$	2,565		$	2,404		$	2,548		$	2,623

Global Transaction Services
Corporate	$	3,839		$	4,424		$	1,243		$	1,261		$	1,335		$	1,322		$	1,392
Commercial	2,876			3,172			968			938			970			967			998
Business Banking	1,092			1,161			369			362			361			370			379
Total Global Transaction Services revenue	$	7,807		$	8,757		$	2,580		$	2,561		$	2,666		$	2,659		$	2,769

Average deposit balances
Interest-bearing	$	375,187		$	287,376		$	395,459		$	367,779		$	362,100		$	351,007		$	315,289
Noninterest-bearing	158,433			210,848			154,170			157,578			163,599			176,590			189,143
Total average deposits	$	533,620		$	498,224		$	549,629		$	525,357		$	525,699		$	527,597		$	504,432



Provision for credit losses	$	693		$	(347)		$	229		$	235		$	229		$	(239)		$	(119)

Credit quality (4, 5)
Reservable criticized utilized exposure	$	24,934		$	22,025		$	24,934		$	22,619		$	22,530		$	21,597		$	22,025
	6.30		%	5.58		%	6.30		%	5.75		%	5.70		%	5.46		%	5.58		%

Nonperforming loans, leases and foreclosed properties	$	2,780		$	1,908		$	2,780		$	2,731		$	3,075		$	2,673		$	1,908
	0.75		%	0.51		%	0.75		%	0.74		%	0.83		%	0.72		%	0.51		%

Average loans and leases by product
U.S. commercial	$	228,243		$	228,461		$	230,051		$	228,189		$	226,470		$	225,070		$	225,758
Non-U.S. commercial	74,524			80,889			73,077			74,227			76,284			78,483			78,748
Commercial real estate	54,440			56,690			52,672			54,984			55,683			56,735			57,573
Commercial lease financing	15,307			14,035			15,415			15,336			15,170			14,573			14,134
Other	2			1			1			2			1			1			1
Total average loans and leases	$	372,516		$	380,076		$	371,216		$	372,738		$	373,608		$	374,862		$	376,214

Total Corporation Investment Banking fees
Advisory (2)	$	1,134		$	1,186		$	387		$	374		$	373		$	389		$	448
Debt issuance	2,545			1,814			780			880			885			589			570
Equity issuance	990			687			270			357			363			199			232
Total investment banking fees including self-led deals	4,669			3,687			1,437			1,611			1,621			1,177			1,250
Self-led deals	(137)			(124)			(34)			(50)			(53)			(32)			(62)
Total Investment Banking fees	$	4,532		$	3,563		$	1,403		$	1,561		$	1,568		$	1,145		$	1,188

(1)Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.

(2)Advisory includes fees on debt and equity advisory and mergers and acquisitions.

(3)Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.

(4)Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial reservable utilized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.

(5)Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.


Current-period information is preliminary and based on company data available at the time of the presentation.			21


Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2024			Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023
	2024			2023
Net interest income	$	2,349		$	1,080		$	898		$	770		$	681		$	598		$	674
Noninterest income:
Investment and brokerage services	1,573			1,507			562			516			495			486			475
Investment banking fees	2,016			1,435			589			719			708			439			463
Market making and similar activities	10,397			11,002			3,349			3,218			3,830			2,428			3,195
All other income	637			415			232			236			169			137			135
Total noninterest income	14,623			14,359			4,732			4,689			5,202			3,490			4,268
Total revenue, net of interest expense (1)	16,972			15,439			5,630			5,459			5,883			4,088			4,942

Provision for credit losses	(42)			(71)			7			(13)			(36)			(60)			(14)

Noninterest expense	10,421			9,935			3,443			3,486			3,492			3,271			3,235
Income before income taxes	6,593			5,575			2,180			1,986			2,427			877			1,721
Income tax expense	1,912			1,533			632			576			704			241			473
Net income	$	4,681		$	4,042		$	1,548		$	1,410		$	1,723		$	636		$	1,248

Return on average allocated capital (2)	14		%	12		%	14		%	13		%	15		%	6		%	11		%

Efficiency ratio	61.40			64.35			61.17			63.83			59.38			80.00			65.47

Balance Sheet
Average
Total trading-related assets	$	638,425		$	618,908		$	645,607		$	639,763		$	629,826		$	615,414		$	609,744
Total loans and leases	136,572			128,317			140,806			135,106			133,756			133,631			131,298
Total earning assets	709,208			647,386			728,186			706,383			692,851			667,094			655,971
Total assets	909,386			870,366			924,093			908,525			895,382			867,953			863,653
Total deposits	33,167			33,725			34,952			31,944			32,585			31,950			31,890
Allocated capital (2)	45,500			45,500			45,500			45,500			45,500			45,500			45,500


Period end
Total trading-related assets	$	653,798		$	613,009		$	653,798		$	619,122		$	629,082		$	542,544		$	613,009
Total loans and leases	148,447			134,386			148,447			138,441			135,267			136,223			134,386
Total earning assets	742,221			660,172			742,221			701,978			698,279			637,955			660,172
Total assets	957,970			864,792			957,970			887,162			902,741			817,588			864,792
Total deposits	35,142			31,041			35,142			33,151			34,847			34,833			31,041

Trading-related assets (average)
Trading account securities	$	323,223		$	321,607		$	325,236		$	321,204		$	323,210		$	309,051		$	307,990
Reverse repurchases	141,611			133,912			150,751			139,901			134,081			133,209			135,401
Securities borrowed	136,040			118,912			133,588			139,705			134,852			129,365			119,936
Derivative assets	37,551			44,477			36,032			38,953			37,683			43,789			46,417
Total trading-related assets	$	638,425		$	618,908		$	645,607		$	639,763		$	629,826		$	615,414		$	609,744

(1)Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 23.

(2)Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.


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


Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Nine Months Ended September 30				Third Quarter 2024		Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023
	2024		2023
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	8,907	$	8,817	$	2,934	$	2,742	$	3,231	$	2,079	$	2,710
Equities	5,794		4,940		1,996		1,937		1,861		1,540		1,695
Total sales and trading revenue	$	14,701	$	13,757	$	4,930	$	4,679	$	5,092	$	3,619	$	4,405

Sales and trading revenue, excluding net debit valuation adjustment (2,3)
Fixed-income, currencies and commodities	$	8,986	$	8,916	$	2,942	$	2,737	$	3,307	$	2,206	$	2,723
Equities	5,809		4,945		1,996		1,943		1,870		1,545		1,698
Total sales and trading revenue, excluding net debit valuation adjustment	$	14,795	$	13,861	$	4,938	$	4,680	$	5,177	$	3,751	$	4,421

Sales and trading revenue breakdown
Net interest income	$	1,868	$	581	$	744	$	612	$	512	$	432	$	518
Commissions	1,572		1,495		561		517		494		486		474
Trading	10,395		10,999		3,348		3,217		3,830		2,428		3,194
Other	866		682		277		333		256		273		219
Total sales and trading revenue	$	14,701	$	13,757	$	4,930	$	4,679	$	5,092	$	3,619	$	4,405

(1) Includes Global Banking sales and trading revenue of $495 million and $464 million for the nine months ended September 30, 2024 and 2023, $165 million, $186 million and $144 million for the third, second and first quarters of 2024, and $190 million and $133 million for the fourth and third quarters of 2023, 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 $(94) million and $(104) million for the nine months ended September 30, 2024 and 2023, $(8) million, $(1) million and $(85) million for the third, second and first quarters of 2024, and $(132) million and $(16) million for the fourth and third quarters of 2023, respectively. FICC net DVA gains (losses) were $(79) million and $(99) million for the nine months ended September 30, 2024 and 2023, $(8) million, $5 million and $(76) million for the third, second and first quarters of 2024, and $(127) million and $(13) million for the fourth and third quarters of 2023, respectively. Equities net DVA gains (losses) were $(15) million and $(5) million for the nine months ended September 30, 2024 and 2023, $0, $(6) million and $(9) million for the third, second and first quarters of 2024, and $(5) million and $(3) million for the fourth and third quarters of 2023, respectively.


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


Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Nine Months Ended September 30				Third Quarter 2024		Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023
	2024		2023
Net interest income	$	43	$	260	$	(1)	$	6	$	38	$	79	$	99





Noninterest income (loss)	(5,594)		(5,103)		(2,151)		(1,761)		(1,682)		(3,547)		(1,717)
Total revenue, net of interest expense	(5,551)		(4,843)		(2,152)		(1,755)		(1,644)		(3,468)		(1,618)

Provision for credit losses	(16)		(77)		(3)		(2)		(11)		24		(24)



Noninterest expense	1,426		1,492		171		261		994		2,551		593
Loss before income taxes	(6,961)		(6,258)		(2,320)		(2,014)		(2,627)		(6,043)		(2,187)
Income tax expense (benefit)	(5,720)		(6,058)		(2,025)		(1,764)		(1,931)		(2,292)		(2,276)
Net income (loss)	$	(1,241)	$	(200)	$	(295)	$	(250)	$	(696)	$	(3,751)	$	89

Balance Sheet
Average
Total loans and leases	$	8,680	$	9,742	$	8,570	$	8,598	$	8,872	$	9,349	$	9,412
Total assets (2)	372,885		239,891		382,528		381,539		354,484		346,628		269,159
Total deposits	110,995		45,357		117,804		115,766		99,339		93,739		68,010

Period end
Total loans and leases	$	8,779	$	9,283	$	8,779	$	8,285	$	8,917	$	8,842	$	9,283

Total assets (3)	360,006		303,903		360,006		392,181		343,658		346,356		303,903
Total deposits	110,467		85,588		110,467		121,059		107,736		92,705		85,588

(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 $948.0 billion and $981.8 billion for the nine months ended September 30, 2024 and 2023, $944.4 billion, $941.7 billion and $958.0 billion for the third, second and first quarters of 2024, and $958.4 billion and $955.7 billion for the fourth and third quarters of 2023, respectively.

(3)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $953.6 billion, $931.1 billion, $987.1 billion, $972.9 billion and $945.7 billion at September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, respectively.


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


Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	September 30 2024		June 30 2024		September 30 2023
Consumer
Residential mortgage	$	227,842	$	227,870	$	229,166
Home equity	25,483		25,442		25,492
Credit card	100,841		99,450		99,687
Direct/Indirect consumer (1)	105,695		103,834		104,059
Other consumer (2)	161		117		122
Total consumer loans excluding loans accounted for under the fair value option	460,022		456,713		458,526
Consumer loans accounted for under the fair value option (3)	229		231		253
Total consumer	460,251		456,944		458,779

Commercial
U.S. commercial	379,563		369,139		356,330
Non-U.S. commercial	127,738		122,183		123,713
Commercial real estate (4)	68,420		70,284		73,193
Commercial lease financing	14,992		14,874		13,904
	590,713		576,480		567,140
U.S. small business commercial	20,893		20,395		19,233
Total commercial loans excluding loans accounted for under the fair value option	611,606		596,875		586,373
Commercial loans accounted for under the fair value option (3)	3,943		2,966		3,997
Total commercial	615,549		599,841		590,370

Total loans and leases	$	1,075,800	$	1,056,785	$	1,049,149

(1)Includes primarily auto and specialty lending loans and leases of $54.9 billion, $53.6 billion and $54.0 billion, U.S. securities-based lending loans of $47.3 billion, $46.7 billion and $46.5 billion and non-U.S. consumer loans of $2.8 billion, $2.8 billion and $2.8 billion at September 30, 2024, June 30, 2024 and September 30, 2023, 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 $63 million, $63 million and $67 million and home equity loans of $166 million, $168 million and $186 million at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.7 billion, $2.0 billion and $2.5 billion and non-U.S. commercial loans of $1.3 billion, $945 million and $1.5 billion at September 30, 2024, June 30, 2024 and September 30, 2023, respectively.

(4)Includes U.S. commercial real estate loans of $61.8 billion, $64.4 billion and $67.3 billion and non-U.S. commercial real estate loans of $6.6 billion, $5.9 billion and $5.9 billion at September 30, 2024, June 30, 2024 and September 30, 2023, respectively.


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


Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Third Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	227,800	$	114,919	$	106,159	$	1	$	—	$	6,721
Home equity	25,664		21,556		2,487		—		153		1,468
Credit card	99,908		96,512		3,395		—		—		1
Direct/Indirect and other consumer	104,732		54,451		50,280		—		—		1
Total consumer	458,104		287,438		162,321		1		153		8,191

Commercial
U.S. commercial	391,728		26,330		54,696		230,051		80,491		160
Non-U.S. commercial	125,377		—		714		73,077		51,085		501
Commercial real estate	69,404		13		7,624		52,672		9,077		18
Commercial lease financing	15,115		—		—		15,415		—		(300)
Total commercial	601,624		26,343		63,034		371,215		140,653		379
Total loans and leases	$	1,059,728	$	313,781	$	225,355	$	371,216	$	140,806	$	8,570

	Second Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	227,567	$	115,180	$	105,603	$	2	$	—	$	6,782
Home equity	25,529		21,366		2,419		—		156		1,588
Credit card	98,983		95,594		3,389		—		—		—
Direct/Indirect and other consumer	103,689		54,139		49,547		—		—		3
Total consumer	455,768		286,279		160,958		2		156		8,373

Commercial
U.S. commercial	386,232		25,964		53,911		228,189		78,007		161
Non-U.S. commercial	123,094		—		607		74,227		47,910		350
Commercial real estate	71,345		11		7,300		54,984		9,033		17
Commercial lease financing	15,033		—		—		15,336		—		(303)
Total commercial	595,704		25,975		61,818		372,736		134,950		225
Total loans and leases	$	1,051,472	$	312,254	$	222,776	$	372,738	$	135,106	$	8,598

	Third Quarter 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	229,001	$	116,828	$	104,635	$	1	$	—	$	7,537
Home equity	25,661		21,123		2,372		—		173		1,993
Credit card	98,049		94,781		3,268		—		—		—
Direct/Indirect and other consumer	104,134		53,840		50,291		—		—		3
Total consumer	456,845		286,572		160,566		1		173		9,533

Commercial
U.S. commercial	377,728		24,179		50,267		225,758		77,369		155
Non-U.S. commercial	123,781		—		681		78,748		44,306		46
Commercial real estate	74,088		10		7,055		57,573		9,450		—
Commercial lease financing	13,812		—		—		14,134		—		(322)
Total commercial	589,409		24,189		58,003		376,213		131,125		(121)
Total loans and leases	$	1,046,254	$	310,761	$	218,569	$	376,214	$	131,298	$	9,412


Current-period information is preliminary and based on company data available at the time of the presentation.			26


Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	September 30 2024		June 30 2024		September 30 2023		September 30 2024		June 30 2024		September 30 2023
Asset managers and funds	$	110,334	$	106,806	$	106,525	$	178,572	$	174,326	$	173,531
Finance companies	71,809		60,950		56,733		105,676		89,871		81,968
Real estate (5)	72,076		71,734		73,318		97,860		97,266		99,840
Capital goods	51,380		48,192		48,858		97,693		92,243		93,327
Healthcare equipment and services	34,584		34,369		34,986		64,800		62,557		61,151
Materials	25,583		25,662		25,132		56,501		56,069		55,496
Retailing	26,952		25,016		26,261		55,240		53,432		57,664
Consumer services	28,258		27,525		27,735		53,770		51,504		49,395
Food, beverage and tobacco	23,986		24,317		22,609		53,632		49,745		49,678
Individuals and trusts	34,995		34,124		32,297		49,583		46,069		43,323
Government and public education	31,954		31,755		32,058		47,706		47,840		46,602
Commercial services and supplies	23,465		23,282		24,089		42,362		42,292		42,992
Utilities	17,472		17,426		17,806		40,807		39,416		38,220
Transportation	24,214		23,798		24,004		35,834		34,860		36,607
Energy	14,033		12,332		13,855		35,580		37,122		36,312
Technology hardware and equipment	11,156		11,033		10,796		29,504		29,585		29,812
Software and services	11,411		10,901		10,160		28,023		26,734		24,839
Global commercial banks	20,922		21,621		27,544		24,330		24,819		30,313
Media	11,897		12,626		14,427		23,648		24,302		25,817
Vehicle dealers	17,681		18,179		14,359		23,424		23,546		21,334
Consumer durables and apparel	9,380		8,803		9,437		22,197		21,201		20,462
Pharmaceuticals and biotechnology	5,229		6,778		7,294		20,497		20,920		20,244
Insurance	8,281		9,903		11,357		18,506		20,115		21,811
Telecommunication services	8,708		9,165		9,276		18,156		17,685		17,005
Automobiles and components	8,359		8,044		7,207		16,798		16,192		15,447
Food and staples retailing	7,666		7,956		7,973		13,609		12,911		13,698
Financial markets infrastructure (clearinghouses)	2,880		2,953		2,409		5,104		5,156		4,762
Religious and social organizations	2,319		2,563		2,400		4,024		4,367		4,518

Total commercial credit exposure by industry	$	716,984	$	697,813	$	700,905	$	1,263,436	$	1,222,145	$	1,216,168

(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 $58.2 billion, $56.8 billion and $53.4 billion at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $26.4 billion, $27.4 billion and $32.9 billion, which consists primarily of other marketable securities, at September 30, 2024, June 30, 2024 and September 30, 2023, respectively.

(2)Total utilized and total committed exposure includes loans of $3.9 billion, $3.0 billion and $4.0 billion and issued letters of credit with a notional amount of $46 million, $25 million and $14 million accounted for under the fair value option at September 30, 2024, June 30, 2024 and September 30, 2023, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $2.4 billion, $3.2 billion and $1.8 billion at September 30, 2024, June 30, 2024 and September 30, 2023, 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.			27


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	September 30 2024			June 30 2024			March 31 2024			December 31 2023			September 30 2023
Residential mortgage	$	2,089		$	2,097		$	2,112		$	2,114		$	2,185
Home equity	413			422			438			450			479

Direct/Indirect consumer	175			152			147			148			128

Total consumer	2,677			2,671			2,697			2,712			2,792
U.S. commercial	699			700			720			636			561
Non-U.S. commercial	85			90			157			175			102
Commercial real estate	2,124			1,971			2,273			1,927			1,343
Commercial lease financing	18			19			16			19			18
	2,926			2,780			3,166			2,757			2,024
U.S. small business commercial	26			22			20			16			17
Total commercial	2,952			2,802			3,186			2,773			2,041
Total nonperforming loans and leases	5,629			5,473			5,883			5,485			4,833
Foreclosed properties (1)	195			218			151			145			160
Total nonperforming loans, leases, and foreclosed properties(2, 3)	$	5,824		$	5,691		$	6,034		$	5,630		$	4,993

Fully-insured home loans past due 30 days or more and still accruing	$	463		$	466		$	476		$	527		$	523
Consumer credit card past due 30 days or more and still accruing	2,563			2,415			2,446			2,419			2,097
Other loans past due 30 days or more and still accruing	3,483			2,770			2,907			2,974			2,848
Total loans past due 30 days or more and still accruing (4, 5)	$	6,509		$	5,651		$	5,829		$	5,920		$	5,468

Fully-insured home loans past due 90 days or more and still accruing	$	215		$	211		$	230		$	252		$	265
Consumer credit card past due 90 days or more and still accruing	1,306			1,257			1,299			1,224			1,016
Other loans past due 90 days or more and still accruing	626			332			343			280			286
Total loans past due 90 days or more and still accruing (5)	$	2,147		$	1,800		$	1,872		$	1,756		$	1,567

Nonperforming loans, leases and foreclosed properties/Total assets (6)	0.18		%	0.17		%	0.18		%	0.18		%	0.16		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)	0.54			0.54			0.58			0.54			0.48
Nonperforming loans and leases/Total loans and leases (6)	0.53			0.52			0.56			0.52			0.46

Commercial reservable criticized utilized exposure (7)	$	27,439		$	24,761		$	24,529		$	23,300		$	23,722
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (6)	4.25		%	3.94		%	3.93		%	3.74		%	3.83		%
Total commercial criticized utilized exposure/Commercial utilized exposure (7)	4.45			4.14			4.13			4.00			4.12

(1)Includes repossessed assets of $22 million, $24 million and $23 million for the third, second and first quarters of 2024, and $22 million and $20 million for the fourth and third quarters of 2023, respectively.

(2)Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.

(3)Balances do not include nonperforming loans held-for-sale of $785 million, $707 million, $379 million, $161 million and $173 million at September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, respectively.

(4)Balances do not include loans held-for-sale past due 30 days or more and still accruing of $166 million, $46 million, $106 million, $72 million and $22 million at September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, 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 $4.2 billion, $3.2 billion, $2.9 billion, $3.6 billion and $4.3 billion at September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023, 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.			28


Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Third Quarter 2024		Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	2,671	$	2,697	$	2,712	$	2,792	$	2,729

Additions	232		223		254		247		297


Reductions:
Paydowns and payoffs	(98)		(118)		(131)		(129)		(117)
Sales	(1)		(1)		(1)		(57)		(2)
Returns to performing status (2)	(115)		(121)		(113)		(122)		(91)
Charge-offs (3)	(8)		(7)		(10)		(15)		(13)
Transfers to foreclosed properties	(4)		(2)		(14)		(4)		(11)

Total net additions (reductions) to nonperforming loans and leases	6		(26)		(15)		(80)		63
Total nonperforming consumer loans and leases, end of period	2,677		2,671		2,697		2,712		2,792
Foreclosed properties (4)	81		114		112		103		112
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	2,758	$	2,785	$	2,809	$	2,815	$	2,904

Nonperforming Commercial Loans and Leases (5):
Balance, beginning of period	$	2,802	$	3,186	$	2,773	$	2,041	$	1,397

Additions	965		704		1,006		1,085		875
Reductions:
Paydowns	(374)		(505)		(220)		(121)		(153)
Sales	(7)		(9)		(1)		(1)		—
Returns to performing status (6)	(21)		(129)		(4)		(45)		(2)
Charge-offs	(386)		(357)		(368)		(186)		(67)
Transfers to foreclosed properties	(27)		(88)		—		—		—
Transfers to loans held-for-sale	—		—		—		—		(9)
Total net additions (reductions) to nonperforming loans and leases	150		(384)		413		732		644
Total nonperforming commercial loans and leases, end of period	2,952		2,802		3,186		2,773		2,041
Foreclosed properties (4)	114		104		39		42		48
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	3,066	$	2,906	$	3,225	$	2,815	$	2,089

(1)For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 28.

(2)Consumer loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection.

(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 $21 million in consumer loans and $1 million in commercial loans for the third quarter of 2024. Includes $22 million, $22 million, $20 million and $19 million in consumer loans and $2 million, $1 million, $2 million and $1 million in commercial loans for the second and first quarters of 2024 and the fourth and third quarters of 2023.

(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.			29


Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Third Quarter 2024				Second Quarter 2024				First Quarter 2024				Fourth Quarter 2023				Third Quarter 2023
	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	(2)	—	%	$	—	—	%	$	3	0.01	%	$	11	0.02	%	$	2	—	%
Home equity	(5)		(0.07)		(14)		(0.23)		(13)		(0.20)		(17)		(0.26)		(14)		(0.22)
Credit card	928		3.70		955		3.88		899		3.62		777		3.07		673		2.72

Direct/Indirect consumer	56		0.21		51		0.20		65		0.26		49		0.19		25		0.10
Other consumer	67		n/m		67		n/m		74		n/m		93		n/m		118		n/m
Total consumer	1,044		0.91		1,059		0.93		1,028		0.91		913		0.79		804		0.70
U.S. commercial	135		0.15		87		0.10		66		0.07		67		0.07		5		0.01
Non-U.S. commercial	60		0.19		(3)		(0.01)		(9)		(0.03)		1		—		(2)		(0.01)
Total commercial and industrial	195		0.16		84		0.07		57		0.05		68		0.06		3		—
Commercial real estate	171		0.98		272		1.53		304		1.70		115		0.62		39		0.21
Commercial lease financing	—		—		—		—		1		0.03		(1)		—		3		0.08
	366		0.25		356		0.25		362		0.26		182		0.13		45		0.03
U.S. small business commercial	124		2.40		118		2.35		108		2.22		97		1.99		82		1.74
Total commercial	490		0.33		474		0.32		470		0.32		279		0.19		127		0.09
Total net charge-offs	$	1,534	0.58		$	1,533	0.59		$	1,498	0.58		$	1,192	0.45		$	931	0.35

By Business Segment and All Other
Consumer Banking	$	1,175	1.49	%	$	1,188	1.53	%	$	1,144	1.47	%	$	1,023	1.30	%	$	911	1.16	%
Global Wealth & Investment Management	10		0.02		11		0.02		17		0.03		12		0.02		4		0.01
Global Banking	358		0.39		346		0.38		350		0.38		160		0.17		20		0.02
Global Markets	1		—		2		0.01		—		—		8		0.02		13		0.04
All Other	(10)		(0.44)		(14)		(0.66)		(13)		(0.59)		(11)		(0.48)		(17)		(0.68)
Total net charge-offs	$	1,534	0.58		$	1,533	0.59		$	1,498	0.58		$	1,192	0.45		$	931	0.35

(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.			30


Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Nine Months Ended September 30
	2024				2023
	Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	1	—	%	$	5	—	%
Home equity	(32)		(0.17)		(42)		(0.22)
Credit card	2,782		3.73		1,784		2.52

Direct/Indirect consumer	172		0.22		43		0.05
Other consumer	208		n/m		387		n/m
Total consumer	3,131		0.92		2,177		0.64
U.S. commercial	288		0.11		57		0.02
Non-U.S. commercial	48		0.05		18		0.02
Total commercial and industrial	336		0.09		75		0.02
Commercial real estate	747		1.41		130		0.24
Commercial lease financing	1		0.01		3		0.02
	1,084		0.25		208		0.05
U.S. small business commercial	350		2.32		222		1.62
Total commercial	1,434		0.32		430		0.10
Total net charge-offs	$	4,565	0.58		$	2,607	0.34

By Business Segment and All Other
Consumer Banking	$	3,507	1.50	%	$	2,459	1.07	%
Global Wealth & Investment Management	38		0.02		13		0.01
Global Banking	1,054		0.38		166		0.06
Global Markets	3		—		18		0.02
All Other	(37)		(0.56)		(49)		(0.67)
Total net charge-offs	$	4,565	0.58		$	2,607	0.34

n/m = not meaningful


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


Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	September 30, 2024		June 30, 2024			September 30, 2023
	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	$	280	0.12%	$	283		0.12%	$	344	0.15%
Home equity	29		0.11	64			0.25	68		0.27
Credit card	7,492		7.43	7,341			7.38	6,987		7.01

Direct/Indirect consumer	730		0.69	751			0.72	671		0.64
Other consumer	62		n/m	75			n/m	97		n/m
Total consumer	8,593		1.87	8,514			1.86	8,167		1.78
U.S. commercial (2)	2,567		0.64	2,586			0.66	2,764		0.74
Non-U.S. commercial	766		0.60	822			0.67	918		0.74
Commercial real estate	1,287		1.88	1,279			1.82	1,393		1.90
Commercial lease financing	38		0.25	37			0.25	45		0.33
Total commercial	4,658		0.76	4,724			0.79	5,120		0.87
Allowance for loan and lease losses	13,251		1.24	13,238			1.26	13,287		1.27


Reserve for unfunded lending commitments	1,100			1,104				1,353
Allowance for credit losses	$	14,351		$	14,342			$	14,640

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases (1)			1.24%				1.26%			1.27%

Allowance for loan and lease losses/Total nonperforming loans and leases			235				242			275

Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.17				2.15			3.60

(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 25.

(2)Includes allowance for loan and lease losses for U.S. small business commercial loans of $1.2 billion, $1.2 billion and $983 million at September 30, 2024, June 30, 2024 and September 30, 2023, respectively.

n/m = not meaningful


Current-period information is preliminary and based on company data available at the time of the presentation.			32

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions, except per share information)

The Corporation evaluates its business 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 nine months ended September 30, 2024 and 2023, and the three months ended September 30, 2024, June 30, 2024, March 31, 2024, December 31, 2023 and September 30, 2023. 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.


	Nine Months Ended September 30				Third Quarter 2024		Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023
	2024		2023





























Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes	$	22,146	$	25,218	$	7,324	$	7,560	$	7,262	$	3,124	$	8,095
Provision for credit losses	4,369		3,290		1,542		1,508		1,319		1,104		1,234
Pretax, pre-provision income	$	26,515	$	28,508	$	8,866	$	9,068	$	8,581	$	4,228	$	9,329

Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity	$	293,638	$	281,579	$	294,985	$	293,403	$	292,511	$	288,618	$	284,975
Goodwill	(69,021)		(69,022)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,971)		(2,049)		(1,951)		(1,971)		(1,990)		(2,010)		(2,029)
Related deferred tax liabilities	869		895		864		869		874		886		890
Tangible shareholders’ equity	$	223,515	$	211,403	$	224,877	$	223,280	$	222,374	$	218,473	$	214,815
Preferred stock	(27,493)		(28,397)		(25,984)		(28,113)		(28,397)		(28,397)		(28,397)
Tangible common shareholders’ equity	$	196,022	$	183,006	$	198,893	$	195,167	$	193,977	$	190,076	$	186,418








Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity	$	296,512	$	287,064	$	296,512	$	293,892	$	293,552	$	291,646	$	287,064
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,938)		(2,016)		(1,938)		(1,958)		(1,977)		(1,997)		(2,016)
Related deferred tax liabilities	859		886		859		864		869		874		886
Tangible shareholders’ equity	$	226,412	$	216,913	$	226,412	$	223,777	$	223,423	$	221,502	$	216,913
Preferred stock	(24,554)		(28,397)		(24,554)		(26,548)		(28,397)		(28,397)		(28,397)
Tangible common shareholders’ equity	$	201,858	$	188,516	$	201,858	$	197,229	$	195,026	$	193,105	$	188,516

Reconciliation of period-end assets to period-end tangible assets
Assets	$	3,324,036	$	3,153,090	$	3,324,036	$	3,257,996	$	3,273,803	$	3,180,151	$	3,153,090
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,938)		(2,016)		(1,938)		(1,958)		(1,977)		(1,997)		(2,016)
Related deferred tax liabilities	859		886		859		864		869		874		886
Tangible assets	$	3,253,936	$	3,082,939	$	3,253,936	$	3,187,881	$	3,203,674	$	3,110,007	$	3,082,939

Book value per share of common stock
Common shareholders’ equity	$	271,958	$	258,667	$	271,958	$	267,344	$	265,155	$	263,249	$	258,667
Ending common shares issued and outstanding	7,688.8		7,923.4		7,688.8		7,774.8		7,866.9		7,895.5		7,923.4
Book value per share of common stock	$	35.37	$	32.65	$	35.37	$	34.39	$	33.71	$	33.34	$	32.65

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	201,858	$	188,516	$	201,858	$	197,229	$	195,026	$	193,105	$	188,516
Ending common shares issued and outstanding	7,688.8		7,923.4		7,688.8		7,774.8		7,866.9		7,895.5		7,923.4
Tangible book value per share of common stock	$	26.25	$	23.79	$	26.25	$	25.37	$	24.79	$	24.46	$	23.79


Current-period information is preliminary and based on company data available at the time of the presentation.			33