Form 8-K - Current report

As filed with the Securities and Exchange Commission on July 16, 2024

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

July 16, 2024

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

1-6523

56-0906609

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


☐			Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


☐			Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


☐			Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


☐			Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, par value $0.01 per share	BAC	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E	BAC PrE	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG	BAC PrB	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH	BAC PrK	New York Stock Exchange
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L	BAC PrL	New York Stock Exchange
Depositary Shares, each representing a 1/1,200th interest in a share of	BML PrG	New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 1
Depositary Shares, each representing a 1/1,200th interest in a share of	BML PrH	New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 2
Depositary Shares, each representing a 1/1,200th interest in a share of	BML PrJ	New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 4
Depositary Shares, each representing a 1/1,200th interest in a share of	BML PrL	New York Stock Exchange
Bank of America Corporation Floating Rate Non-Cumulative
Preferred Stock, Series 5
Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)	BAC/PF	New York Stock Exchange
5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)	BAC/PG	New York Stock Exchange
Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation	MER PrK	New York Stock Exchange
Senior Medium-Term Notes, Series A, Step Up Callable Notes, due	BAC/31B	New York Stock Exchange
November 28, 2031 of BofA Finance LLC (and the guarantee of the
Registrant with respect thereto)
Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK	BAC PrM	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL	BAC PrN	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN	BAC PrO	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP	BAC PrP	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ	BAC PrQ	New York Stock Exchange
Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS	BAC PrS	New York Stock Exchange


Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR 230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR 240.12b-2).
Emerging growth company			☐


If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.			☐

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 16, 2024, Bank of America Corporation (the “Corporation”) announced financial results for the second quarter ended June 30, 2024, reporting second quarter net income of $6.9 billion, or $0.83 per diluted share. A copy of the press release announcing the Corporation’s results for the second quarter ended June 30, 2024 (the “Press Release”) is attached hereto as Exhibit 99.1 and is incorporated by reference in this Item 2.02. The Press Release is available on the Corporation’s website.

The information provided in Item 2.02 of this report, including Exhibit 99.1, shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

ITEM 7.01. REGULATION FD DISCLOSURE.

On July 16, 2024, the Corporation will hold an investor conference call and webcast to discuss financial results for the second quarter ended June 30, 2024, including the Press Release and other matters relating to the Corporation.

The Corporation has also made available on its website presentation materials containing certain historical and forward-looking information relating to the Corporation (the “Presentation Materials”) and materials that contain additional information about the Corporation’s financial results for the second quarter ended June 30, 2024 (the “Supplemental Information”). The Presentation Materials and the Supplemental Information are furnished herewith as Exhibit 99.2 and Exhibit 99.3, respectively, and are incorporated by reference in this Item 7.01. All information in Exhibits 99.2 and 99.3 is presented as of the particular date or dates referenced therein, and the Corporation does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

The information provided in Item 7.01 of this report, including Exhibits 99.2 and 99.3, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall the information or Exhibits 99.2 or 99.3 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibit 99.1 is filed herewith. Exhibits 99.2 and 99.3 are furnished herewith.



EXHIBIT NO.						DESCRIPTION OF EXHIBIT

99.1						The Press Release

99.2						The Presentation Materials

99.3						The Supplemental Information



104						Cover Page Interactive Data File (embedded in the cover page formatted in Inline XBRL)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.



BANK OF AMERICA CORPORATION

By:						/s/ Rudolf A. Bless
						Rudolf A. Bless
						Chief Accounting Officer

Dated: July 16, 2024

1 2Q24 Financial Highlights2(A) 2Q24 Business Segment Highlights2,3(A) Consumer Banking Global Wealth and Investment Management Global Banking Global Markets See pages 10 and 11 for endnotes. Amounts may not total due to rounding. 1 Revenue, net of interest expense. 2 Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. 3 The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. 4 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 5 Includes repurchases to offset shares awarded under equity-based compensation plans. 6 Tangible book value per common share and return on average tangible common shareholders’ equity ratio represent non-GAAP financial measures. For more information, see page 20. 7 Source: Dealogic as of June 30, 2024. 8 Includes loans to Global Commercial Banking clients, excluding commercial real estate and specialized industries. • Net income of $6.9 billion, or $0.83 per diluted share, compared to $7.4 billion, or $0.88 per diluted share in 2Q23 • Revenue, net of interest expense, of $25.4 billion increased $180 million, or 1%, reflecting higher asset management and investment banking fees, as well as sales and trading revenue, and lower net interest income (NII) – NII decreased 3% to $13.7 billion ($13.9 billion FTE),(B) as higher deposit costs more than offset higher asset yields and modest loan growth • Provision for credit losses of $1.5 billion, up from $1.3 billion in 1Q24 and $1.1 billion in 2Q23 – Net charge-offs of $1.5 billion were relatively flat from 1Q24 and up from $869 million in 2Q23 – Net reserve release of $25 million vs. $179 million in 1Q24 and net reserve build of $256 million in 2Q23(C) • Noninterest expense of $16.3 billion increased $271 million, or 2%, driven by investments in people and revenue-related compensation • Average deposit balances of $1.91 trillion increased $35 billion, or 2% • Average loans and leases of $1.05 trillion increased modestly vs. 2Q23 • Average Global Liquidity Sources of $909 billion(D) • Common equity tier 1 (CET1) capital of $198 billion increased $1 billion from 1Q24 • CET1 ratio of 11.9% (Standardized);(E) 122 bps above the new regulatory minimum that takes effect Oct. 1, 2024 • Returned $5.4 billion to shareholders; $1.9 billion through common stock dividends and $3.5 billion in share repurchases5 • Book value per common share rose 7% to $34.39; tangible book value per common share rose 9% to $25.376 • Return on average common shareholders' equity (ROE) ratio of 10.0%; return on average tangible common shareholders' equity (ROTCE) ratio of 13.6%6 • Net income of $1.4 billion • Sales and trading revenue up 9% to $4.7 billion, including net debit valuation adjustment (DVA) losses of $1 million; Fixed Income, Currencies and Commodities (FICC) revenue up 3% to $2.7 billion, and Equities revenue up 20% to $1.9 billion • Excluding net DVA,(F) sales and trading revenue up 7% to $4.7 billion; FICC revenue down 1% to $2.7 billion, and Equities revenue up 20% to $1.9 billion • Zero days of trading losses in 2Q24 From Chair and CEO Brian Moynihan: “Our team produced another strong quarter, serving a growing client base. The strength and earnings power of our leading Consumer Banking business is complemented by the growth and profitability of our Global Markets, Global Banking, and Wealth Management businesses. Our Global Markets business delivered its ninth consecutive quarter of year-over-year revenue growth in sales and trading, earning double-digit returns. Our investments in this business are delivering for our shareholders.” • Net income of $1.0 billion • Revenue of $5.6 billion increased 6% • Record client balances of more than $4 trillion increased 10%, driven by higher market valuations and positive net client flows • AUM flows of $11 billion in 2Q24 • Client Activity – Added ~6,100 net new relationships across Merrill and Private Bank – AUM balances of $1.8 trillion, up $228 billion – 75% of Merrill eligible bank and brokerage accounts opened digitally • Net income of $2.1 billion • Total investment banking fees (excl. self-led) of $1.6 billion, up 29% • No. 3 in investment banking fees7 • Average deposits of $525 billion increased $28 billion, or 6% • Grew Middle Market ending loan balances 4%8 • Net income of $2.6 billion • Revenue of $10.2 billion, down 3% • Average deposits of $949 billion, down 6%; up 32% from pre-pandemic 4Q19 • Average loans and leases of $312 billion increased $6 billion, or 2% • Combined credit / debit card spend of $234 billion, up 3% • Client Activity – Added ~278,000 net new consumer checking accounts in 2Q24; 22nd consecutive quarter of growth – Record 37.2 million consumer checking accounts with 92% being primary4 – Small business checking accounts of 3.9 million, up 1% – Record consumer investment assets of $476 billion grew 23%, including $38 billion of net client flows since 2Q23 – Digital logins of 3.5 billion; digital sales represented 53% of total sales Bank of America Reports 2Q24 Net Income of $6.9 Billion, EPS of $0.83 Revenue Improved YoY to $25.4 Billion,1 led by Noninterest Income, up 6% to $11.7 Billion CET1 Ratio of 11.9%; Book Value Per Share of $34.39 Grew 7% YoY

2 Bank of America Financial Highlights Reported Reported Adjusted1 Reported ($ in billions, except per share data) 2Q24 1Q24 1Q24 2Q23 Total revenue, net of interest expense $25.4 $25.8 $25.8 $25.2 Provision for credit losses 1.5 1.3 1.3 1.1 Noninterest expense 16.3 17.2 16.5 16.0 Pretax income 7.6 7.3 8.0 8.0 Pretax, pre-provision income2(H) 9.1 8.6 9.3 9.2 Income tax expense 0.7 0.6 0.8 0.6 Net income 6.9 6.7 7.2 7.4 Diluted earnings per share $0.83 $0.76 $0.83 $0.88 Return on average assets 0.85 % 0.83 % 0.89 % 0.94 % Return on average common shareholders’ equity 10.0 9.4 10.2 11.2 Return on average tangible common shareholders’ equity2 13.6 12.7 13.8 15.5 Efficiency ratio 64 67 64 64 1 Amounts in this column (other than total revenue, net of interest expense, and provision for credit losses) are adjusted for the FDIC special assessment accrual. Adjusted amounts represent non-GAAP financial measures. For additional information and a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures, see Endnote G on page 11. 2 Pretax, pre-provision income and return on average tangible common shareholders’ equity represent non-GAAP financial measures. For more information, see page 20. From Chief Financial Officer Alastair Borthwick: “Our net income was $6.9 billion, and we returned $5.4 billion to shareholders through common stock dividends and share repurchases. We announced plans for an eight percent increase in our quarterly common stock dividend, to 26 cents per share, pending Board approval. Our diverse businesses leveraged our innovative platforms and services, attracting new client relationships and delivering for our clients, shareholders and the communities we serve.” Common Equity Tier 1 Capital $190 $194 $195 $197 $198 11.6% 11.9% 11.8% 11.9% 11.9% Common Equity Tier 1 capital Common Equity Tier 1 capital ratio 2Q23 3Q23 4Q23 1Q24 2Q24 Average Deposits $1,875 $1,876 $1,905 $1,907 $1,910 2Q23 3Q23 4Q23 1Q24 2Q24 Spotlight on Average Deposits and Common Equity Tier 1 Capital ($B) 1 1 Common equity tier 1 capital ratio under the Standardized approach. For additional information on regulatory capital ratios, see Endnote E on page 10.

3 Consumer Banking1,2 Financial Results Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Total revenue2 $10,206 $10,166 $10,524 Provision for credit losses 1,281 1,150 1,267 Noninterest expense 5,464 5,475 5,453 Pretax income 3,461 3,541 3,804 Income tax expense 866 885 951 Net income $2,595 $2,656 $2,853 Business Highlights(A) Three months ended ($ in billions) 6/30/2024 3/31/2024 6/30/2023 Average deposits $949.2 $952.5 $1,006.3 Average loans and leases 312.3 313.0 306.7 Consumer investment assets (EOP)5 476.1 456.4 386.8 Active mobile banking users (MM) 39.0 38.5 37.3 Number of financial centers 3,786 3,804 3,887 Efficiency ratio 54 % 54 % 52 % Return on average allocated capital 24 25 27 Total Consumer Credit Card3 Average credit card outstanding balances $99.0 $99.8 $94.4 Total credit / debit spend 233.6 219.4 226.1 Risk-adjusted margin 6.8 % 6.8 % 7.8 % • Net income of $2.6 billion • Revenue of $10.2 billion decreased 3%, driven primarily by the impact of lower deposit balances • Provision for credit losses of $1.3 billion was relatively flat vs. 2Q23 – Net charge-offs of $1.2 billion increased $369 million, driven by credit card – Net reserve build of $93 million(C) in 2Q24 vs. $448 million in 2Q23 • Noninterest expense of $5.5 billion was relatively flat – Efficiency ratio of 54% Business Highlights1,3(A) • Average deposits of $949 billion decreased $57 billion, or 6% – 58% of deposits in checking accounts; 92% are primary accounts4 • Average loans and leases of $312 billion increased $6 billion, or 2% • Combined credit / debit card spend of $234 billion increased 3% • Record consumer investment assets5 of $476 billion grew $89 billion, or 23%, driven by $38 billion of net client flows from new and existing clients and higher market valuations – 3.9 million consumer investment accounts, up 6% • 11.1 million Total clients enrolled in Preferred Rewards, up 7%, with 99% annualized retention rate6 Strong Digital Usage Continued1 • Record 77% of overall households7 actively using digital platforms • 47 million active digital banking users, up 3%, or 1.6 million • 1.7 million digital sales, representing 53% of total sales • Record 3.5 billion digital logins, up 10% • New Zelle® records: 22.6 million active users, up 11%; sent and received 382 million transactions, worth $115 billion, both up 26%8 • Clients booked more than 796,000 digital appointments Continued Business Leadership • No. 1 in estimated U.S. Retail Deposits(a) • No. 1 Small Business Lender(b) • Best Bank in North America(c) • Best Bank in the U.S.(c) • Best Consumer Digital Bank in the U.S. - Best Integrated Consumer Banking Site & Best Mobile Banking App(d) • Best Bank in the U.S. for Small and Medium Enterprises(e) • Certified by J.D. Power for Outstanding Client Satisfaction with Customer Financial Health Support – Banking & Payments(f) See page 12 for Business Leadership sources. 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. 3 The Consumer credit card portfolio includes Consumer Banking and GWIM. 4 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 5 Consumer investment assets includes client brokerage assets, deposit sweep balances, Bank of America, N.A. brokered CDs, and AUM in Consumer Banking. 6 As of May 2024. Includes clients in Consumer, Small Business and GWIM. 7 Household adoption represents households with consumer bank login activities in a 90-day period, as of May 2024. 8 Includes Bank of America person-to-person payments sent and received through e-mail or mobile identification. Zelle® users represent 90-day active users.

4 Global Wealth and Investment Management1,2 Financial Results Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Total revenue2 $5,574 $5,591 $5,242 Provision (benefit) for credit losses 7 (13) 13 Noninterest expense 4,199 4,264 3,925 Pretax income 1,368 1,340 1,304 Income tax expense 342 335 326 Net income $1,026 $1,005 $978 Business Highlights(A) Three months ended ($ in billions) 6/30/2024 3/31/2024 6/30/2023 Average deposits $287.7 $297.4 $295.4 Average loans and leases 222.8 218.6 218.6 Total client balances (EOP) 4,011.9 3,973.4 3,635.2 AUM flows 10.8 24.7 14.3 Pretax margin 25 % 24 % 25 % Return on average allocated capital 22 22 21 Continued Business Leadership • No. 1 on Forbes’ Best-in-State Wealth Advisors (2023), Top Women Wealth Advisors (2024), and Top Next Generation Advisors (2023) • No. 1 on Barron’s Top 1200 Wealth Financial Advisors List (2024) • No. 1 on Financial Planning's 'Top 40 Advisors Under 40' List (2024) • No. 1 in personal trust AUM(b) • Best Private Bank (U.S.); Best Private Bank for Philanthropic Services and Sustainable Investing (North America)(g) • Best Private Bank in the Nation; Best Private Bank for Family Office and OCIO(h) • Best Private Bank (U.S.); Best Private Bank for Digital Innovation, Best Family Office Offering, and Excellence in Philanthropy Services(i) See page 12 for Business Leadership sources. • Net income of $1.0 billion • Revenue of $5.6 billion increased 6%, driven by 14% higher asset management fees, due to higher market levels and strong AUM flows, partially offset by lower NII • Noninterest expense of $4.2 billion increased 7%, driven by revenue-related incentives Business Highlights1(A) • Record client balances of more than $4 trillion increased 10%, driven by higher market valuations and positive net client flows – AUM flows of $11 billion in 2Q24 • Average deposits of $288 billion decreased $8 billion, or 3% • Average loans and leases of $223 billion increased $4 billion, or 2% Merrill Wealth Management Highlights1 Client Engagement – Record client balances of $3.4 trillion(A) – AUM balances of $1.4 trillion – ~5,500 net new households in 2Q24 Strong Digital Usage Continued – 85% of Merrill households digitally active3 across the enterprise ▪ 62% of Merrill households mobile active across the enterprise – 81% of households enrolled in eDelivery4 – 75% of eligible checks deposited through automated channels5 – 75% of eligible bank and brokerage accounts opened through digital onboarding in 2Q24, up from 64% a year ago Bank of America Private Bank Highlights1 Client Engagement – Record client balances of $640 billion(A) – AUM balances of $385 billion – ~630 net new relationships in 2Q24 Strong Digital Usage Continued – 92% of clients digitally active6 across the enterprise – 76% of eligible checks deposited through automated channels5 – Clients continued leveraging the convenience and effectiveness of our digital capabilities: ▪ Digital wallet transactions up 44% ▪ Zelle® transactions up 33% 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. 3 Percentage of digitally active Merrill primary households ($250K+ in investable assets within the enterprise) as of June 2024. Excludes Stock Plan and Banking-only households. 4 Includes Merrill Digital Households (excluding Stock Plan, Banking-only households, Retirement only, and 529 only) that receive statements digitally, as of May 2024. 5 Includes mobile check deposits, remote deposit operations, and automated teller machine transactions, as of May 2024 for Private Bank and as of June 2024 for Merrill. 6 Percentage of digitally active Private Bank core relationships ($3MM+ in total balances) as of May 2024. Includes third-party activities and excludes Irrevocable Trust-only relationships, Institutional Philanthropic relationships, and exiting relationships.

5 Global Banking1,2,3 Financial Results Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Total revenue2,3 $6,053 $5,980 $6,462 Provision for credit losses 235 229 9 Noninterest expense 2,899 3,012 2,819 Pretax income 2,919 2,739 3,634 Income tax expense 803 753 981 Net income $2,116 $1,986 $2,653 Business Highlights2(A) Three months ended ($ in billions) 6/30/2024 3/31/2024 6/30/2023 Average deposits $525.4 $525.7 $497.5 Average loans and leases 372.7 373.6 383.1 Total Corp. IB fees (excl. self-led) 1.6 1.6 1.2 Global Banking IB fees 0.8 0.8 0.7 Business Lending revenue 2.6 2.4 2.7 Global Transaction Services revenue 2.6 2.7 2.9 Efficiency ratio 48 % 50 % 44 % Return on average allocated capital 17 16 22 • Net income of $2.1 billion • Revenue of $6.1 billion decreased 6%, driven primarily by lower NII and leasing revenue, partially offset by higher investment banking fees • Provision for credit losses of $235 million vs. $9 million in 2Q23 – Net charge-offs of $346 million increased $287 million, driven primarily by commercial real estate office – Net reserve release of $111 million vs. $50 million in 2Q23 • Noninterest expense of $2.9 billion increased 3% Business Highlights1,2(A) • Total Corporation investment banking fees (excl. self-led) of $1.6 billion increased 29% – No. 3 in investment banking fees4 • Average deposits of $525 billion increased $28 billion, or 6% • Average loans and leases of $373 billion decreased $10 billion, or 3%, reflecting lower client demand Strong Digital Usage Continued1 • 76% digitally active clients across Commercial, Corporate, and Business Banking clients (CashPro® and BA360 platforms) (as of May 2024) with 87% of relationship clients digitally active • Record total mobile sign-ins at 1.87 million, up 17%5 • Record quarterly CashPro® App Payment Approvals value of $253 billion, increased 33% • CashPro® Chat is now supported by Erica® technology with nearly 30K interactions in 2Q24 Continued Business Leadership • World’s Most Innovative Bank – 2024(g) • World’s Best Digital Bank, World’s Best Bank for Financing, North America’s Best Bank for Small to Medium-sized Enterprises, and North America's Best Bank for Sustainable Finance(j) • 2023 Best Bank for Cash & Liquidity Management, Best Bank for Trade & Supply Chain – North America, and Best Mobile Technology Solution for Treasury – CashPro App(k) • Best Global Bank for Transaction Banking (overall award), Best Global Bank for Collections(g) • Model Bank Award for Reimagining Trade & Supply Chain Finance – 2024 for CashPro Supply Chain Solutions(l) • 2023 Share & Excellence Awards for U.S. Large Corporate Banking & Cash Management(m) • Relationships with 74% of the Global Fortune 500; 95% of the U.S. Fortune 1,000 (2023) See page 12 for Business Leadership sources. 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. 4 Source: Dealogic as of June 30, 2024. 5 Includes CashPro, BA360, and Global Card Access.

6 Global Markets1,2,3 Financial Results Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Total revenue2,3 $5,459 $5,883 $4,871 Net DVA (1) (85) (102) Total revenue (excl. net DVA)2,3,4 $5,460 $5,968 $4,973 Provision (benefit) for credit losses (13) (36) (4) Noninterest expense 3,486 3,492 3,349 Pretax income 1,986 2,427 1,526 Income tax expense 576 704 420 Net income $1,410 $1,723 $1,106 Net income (excl. net DVA)4 $1,411 $1,788 $1,184 Business Highlights2(A) Three months ended ($ in billions) 6/30/2024 3/31/2024 6/30/2023 Average total assets $908.5 $895.4 $877.5 Average trading-related assets 639.8 629.8 621.1 Average loans and leases 135.1 133.8 128.5 Sales and trading revenue 4.7 5.1 4.3 Sales and trading revenue (excl. net DVA)4(F) 4.7 5.2 4.4 Global Markets IB fees 0.7 0.7 0.5 Efficiency ratio 64 % 59 % 69 % Return on average allocated capital 13 15 10 • Net income of $1.4 billion, both including and excluding net DVA4 • Revenue of $5.5 billion increased 12%, driven by higher sales and trading revenue and investment banking fees • Noninterest expense of $3.5 billion increased 4%, driven by higher revenue-related expenses and investments in the business, including technology • Average VaR of $90 million5 Business Highlights1,2,3(A) • Sales and trading revenue of $4.7 billion increased 9%; excluding net DVA, increased 7%(F) – FICC revenue increased 3% (ex. DVA, down 1%),(F) to $2.7 billion, driven by improved client activity and trading performance in mortgages, partially offset by a weaker trading environment in foreign exchange and interest rates products – Equities revenue increased 20% (ex. DVA, increased 20%),(F) to $1.9 billion, driven by strong client activity and trading performance in cash and derivatives Additional Highlights • 650+ research analysts covering over 3,450 companies; 1,250+ corporate bond issuers across 55+ economies and 25 industries Continued Business Leadership • Securitization Bank of the Year(n) • CLO Trading Desk of the Year(n) • Derivatives House of the Year(o) • Base Metals House of the Year(o) • Currency Derivatives House of the Year(p) • U.S. Muni Bond - Lead Manager of the Year for social bonds, green bonds, and sustainability bonds(q) • No. 1 Foreign Exchange Options Market Dealer(r) • Best CLO Tranche Trading Desk(s) • Best Research House(s) See page 12 for Business Leadership sources. 1 Comparisons are to the year-ago quarter unless noted. The explanations for current period-over- period changes for Global Markets are the same for amounts including and excluding net DVA. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Revenue, net of interest expense. 4 Revenue and net income, excluding net DVA, are non-GAAP financial measures. See Endnote F on page 10 for more information. 5 VaR model uses a historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Average VaR was $90MM, $80MM and $76MM for 2Q24, 1Q24 and 2Q23, respectively.

7 All Other1,2 Financial Results Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Total revenue2 ($1,755) ($1,644) ($1,767) Provision (benefit) for credit losses (2) (11) (160) Noninterest expense 261 994 492 Pretax loss (2,014) (2,627) (2,099) Income tax expense (benefit) (1,764) (1,931) (1,917) Net income (loss) ($250) ($696) ($182) 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Note: 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. • Net loss of $250 million – Improved $446 million v. 1Q24, driven primarily by the absence of the $700 million 1Q24 accrual for the estimated amount of the FDIC special assessment for uninsured deposits of certain failed banks • Total corporate effective tax rate (ETR) for the quarter was approximately 9% – Excluding discrete tax items and recurring tax credits primarily related to investments in renewable energy and affordable housing, the ETR would have been approximately 25%

8 Credit Quality1 Highlights Three months ended ($ in millions) 6/30/2024 3/31/2024 6/30/2023 Provision for credit losses $1,508 $1,319 $1,125 Net charge-offs 1,533 1,498 869 Net charge-off ratio2 0.59 % 0.58 % 0.33 % At period-end Nonperforming loans and leases $5,473 $5,883 $4,126 Nonperforming loans and leases ratio 0.52 % 0.56 % 0.39 % Consumer 90+ days performing past due $1,474 $1,531 $1,185 Allowance for credit losses 14,342 14,371 14,338 Allowance for loan and lease losses 13,238 13,213 12,950 Allowance for loan and lease losses ratio3 1.26 % 1.26 % 1.24 % 1 Comparisons are to the year-ago quarter unless noted. 2 Net charge-off ratio is calculated as annualized net charge-offs divided by average outstanding loans and leases during the period. 3 Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. Note: Ratios do not include loans accounted for under the fair value option. Charge-offs • Total net charge-offs of $1.5 billion increased $35 million from 1Q24 – Consumer net charge-offs of $1.1 billion increased $31 million from 1Q24, driven by higher credit card losses – Credit card loss rate of 3.88% in 2Q24 vs. 3.62% in 1Q24 – Commercial net charge-offs of $474 million remained relatively flat compared to 1Q24 • Net charge-off ratio2 of 0.59% increased 1 bp from 1Q24 Provision for credit losses • Provision for credit losses of $1.5 billion increased $189 million vs. 1Q24 – Net reserve release of $25 million in 2Q24 vs. $179 million in 1Q24(C) Allowance for credit losses • Allowance for loan and lease losses of $13.2 billion represented 1.26% of total loans and leases3 – Total allowance for credit losses of $14.3 billion included $1.1 billion for unfunded commitments • Nonperforming loans (NPLs) of $5.5 billion decreased $410 million from 1Q24, driven primarily by the commercial real estate office portfolio – 61% of Consumer NPLs are contractually current • Commercial reservable criticized utilized exposure of $24.8 billion increased $232 million from 1Q24

9 Balance Sheet, Liquidity, and Capital Highlights ($ in billions except per share data, end of period, unless otherwise noted)(A) Three months ended 6/30/2024 3/31/2024 6/30/2023 Ending Balance Sheet Total assets $3,258.0 $3,273.8 $3,123.2 Total loans and leases 1,056.8 1,049.2 1,051.2 Total loans and leases in business segments (excluding All Other) 1,048.5 1,040.2 1,041.7 Total deposits 1,910.5 1,946.5 1,877.2 Average Balance Sheet Average total assets $3,275.0 $3,247.2 $3,175.4 Average loans and leases 1,051.5 1,047.9 1,046.6 Average deposits 1,909.9 1,907.5 1,875.4 Funding and Liquidity Long-term debt $290.5 $296.3 $286.1 Global Liquidity Sources, average(D) 909 909 867 Equity Common shareholders’ equity $267.3 $265.2 $254.9 Common equity ratio 8.2 % 8.1 % 8.2 % Tangible common shareholders’ equity1 $197.2 $195.0 $184.8 Tangible common equity ratio1 6.2 % 6.1 % 6.1 % Per Share Data Common shares outstanding (in billions) 7.77 7.87 7.95 Book value per common share $34.39 $33.71 $32.05 Tangible book value per common share1 25.37 24.79 23.23 Regulatory Capital(E) CET1 capital $198.1 $196.6 $190.1 Standardized approach Risk-weighted assets $1,662 $1,658 $1,639 CET1 ratio 11.9 % 11.9 % 11.6 % Advanced approaches Risk-weighted assets $1,469 $1,463 $1,436 CET1 ratio 13.5 % 13.4 % 13.2 % Supplementary leverage Supplementary leverage ratio (SLR) 6.0 % 6.0 % 6.0 % 1 Represents a non-GAAP financial measure. For reconciliation, see page 20.

10 Endnotes Three months ended (Dollars in millions) 6/30/2024 3/31/2024 6/30/2023 Sales and trading revenue Fixed-income, currencies and commodities $ 2,742 $ 3,231 $ 2,667 Equities 1,937 1,861 1,618 Total sales and trading revenue $ 4,679 $ 5,092 $ 4,285 Sales and trading revenue, excluding net debit valuation adjustment1 Fixed-income, currencies and commodities $ 2,737 $ 3,307 $ 2,764 Equities 1,943 1,870 1,623 Total sales and trading revenue, excluding net debit valuation adjustment $ 4,680 $ 5,177 $ 4,387 A We present certain key financial and nonfinancial performance indicators (KPIs) that management uses when assessing consolidated and/or segment results. We believe this information is useful because it provides management and investors with information about underlying operational performance and trends. KPIs are presented in Consolidated and Business Segment Highlights on page 1, Balance Sheet, Liquidity, and Capital Highlights on page 9 and on the Segment pages for each segment. B We also measure NII on an FTE basis, which is a non-GAAP financial measure. FTE basis is a performance measure used in operating the business that management believes provides investors with meaningful information on the interest margin for comparative purposes. We believe that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practice. NII on an FTE basis was $13.9 billion, $14.2 billion and $14.3 billion for the three months ended June 30, 2024, March 31, 2024 and June 30, 2023, respectively. The FTE adjustment was $160 million, $158 million and $135 million for the three months ended June 30, 2024, March 31, 2024 and June 30, 2023, respectively. C Reserve Build (or Release) is calculated by subtracting net charge-offs for the period from the provision for credit losses recognized in that period. The period-end allowance, or reserve, for credit losses reflects the beginning of the period allowance adjusted for net charge-offs recorded in that period plus the provision for credit losses and other valuation accounts recognized in that period. D Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency mortgage-backed securities, and a select group of non-U.S. government and supranational securities, and other investment- grade securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions. E Regulatory capital ratios at June 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 Total capital ratio under the Standardized approach for June 30, 2024 and March 31, 2024; and the Common equity tier 1 ratio under the Standardized approach for June 30, 2023. F The below table includes Global Markets sales and trading revenue, excluding net DVA, which is a non-GAAP financial measure. We believe that the presentation of measures that exclude this item is useful because such measures provide additional information to assess the underlying operational performance and trends of our businesses and to allow better comparison of period-to-period operating performance. 1 For the three months ended June 30, 2024, March 31, 2024 and June 30, 2023, net DVA gains (losses) were ($1) million, ($85) million and ($102) million, FICC net DVA gains (losses) were $5 million, ($76) million and ($97) million, and Equities net DVA gains (losses) were ($6) million, ($9) million and ($5) million, respectively.

11 Endnotes G In 1Q24, the FDIC increased its estimate of the loss to the Deposit Insurance Fund arising from the closures of Silicon Valley Bank and Signature Bank that will be recouped through the collection of a special assessment from certain insured depository institutions. Accordingly, the Corporation recorded pretax noninterest expense of $0.7B to increase its accrual for its estimated share of the special assessment. The Corporation has presented certain non-GAAP financial measures (labeled as “adj.” in the tables below) that exclude the impact of the FDIC special assessment (FDIC SA) and has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures as set forth below. The Corporation believes the use of non-GAAP financial measures adjusting for the impact of the FDIC SA provides additional information for evaluating its results of operations and comparing its operational performance between periods by excluding these impacts that may not be reflective of its underlying operating performance. Note: Amounts may not total due to rounding. 1 Represents a non-GAAP financial measure. For more information see Endnote H and for a reconciliation to the most directly comparable GAAP financial measure, see page 20. 2 Calculated as net income applicable to common shareholders divided by average diluted common shares. Average diluted common shares of 8,031MM for 1Q24. 3 Calculated as net income divided by average assets. Average assets were $3,247B for 1Q24. 4 Calculated as net income applicable to common shareholders divided by average common shareholders’ equity. Average common shareholders’ equity was $264B for 1Q24. 5 Calculated as net income applicable to common shareholders divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity was $194B for 1Q24. Average tangible common shareholders’ equity represents a non-GAAP financial measure. For more information and a reconciliation of average tangible common shareholders’ equity to average shareholders’ equity, see page 20. 6 Calculated as noninterest expense divided by revenue, net of interest expense. H Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting consolidated pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure as it enables an assessment of the Company’s ability to generate earnings to cover credit losses through a credit cycle and provides an additional basis for comparing the Company's results of operations between periods by isolating the impact of provision for credit losses, which can vary significantly between periods. For Reconciliations to GAAP Financial Measures, see page 20. Reconciliation 1Q24 Reported FDIC SA 1Q24 adj. FDIC SA ($ in billions, except per share data) Noninterest expense $17.2 $0.7 $16.5 Income before income taxes 7.3 (0.7) 8.0 Pretax, pre-provision income1 8.6 (0.7) 9.3 Income tax expense 0.6 (0.2) 0.8 Net income 6.7 (0.5) 7.2 Net income applicable to common shareholders 6.1 (0.5) 6.6 Diluted earnings per share2 $0.76 ($0.07) $0.83 Reconciliation of return metrics and efficiency ratio ($ in billions) 1Q24 Reported FDIC SA 1Q24 adj. FDIC SA Return on average assets3 0.83 % (6) bps 0.89 % Return on average common shareholders’ equity4 9.4 % (81) bps 10.2 % Return on average tangible common shareholders’ equity5 12.7 % (110) bps 13.8 % Efficiency ratio6 67 % 271 bps 64 %

12 (a) Estimated U.S. retail deposits based on June 30, 2023 FDIC deposit data. (b) FDIC, 1Q24. (c) Global Finance, April 2024. (d) Global Finance, August 2023. (e) Global Finance, October 2023. (f) J.D. Power 2024 Financial Health Support CertificationSM is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards.* (g) Global Finance, 2024. (h) Family Wealth Report, 2024. (i) Global Private Banker, 2024. (j) Euromoney, 2023. (k) Treasury Management International, 2024. (l) Celent, 2024. (m) Coalition Greenwich, 2023. (n) Global Capital, 2024. (o) Energy Risk, 2024. (p) Risk Awards, 2024. (q) Environmental Finance, 2024. (r) FX Markets, 2024. (s) DealCatalyst, 2024. Business Leadership Sources * Website content is not incorporated by reference into this press release.

13 Contact Information and Investor Conference Call Invitation Investor Call Information Chief Executive Officer Brian Moynihan and Chief Financial Officer Alastair Borthwick will discuss second- quarter 2024 financial results in an investor conference call at 8:30 a.m. ET today. The conference call and presentation materials can be accessed on the Bank of America Investor Relations website at https://investor.bankofamerica.com.* For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international). The conference ID is 79795. Please dial in 10 minutes prior to the start of the call. Investors can access replays of the conference call by visiting the Investor Relations website or by calling 1.800.934.4850 (U.S.) or 1.402.220.1178 (international) from noon July 16 through 11:59 p.m. ET on July 26. Investors May Contact: Lee McEntire, Bank of America Phone: 1.980.388.6780 lee.mcentire@bofa.com Jonathan G. Blum, Bank of America (Fixed Income) Phone: 1.212.449.3112 jonathan.blum@bofa.com Bank of America Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,800 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 58 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Bank of America Corporation (the Corporation) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Corporation’s current expectations, plans or forecasts of its future results, revenues, liquidity, net interest income, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, deposits, assets, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Corporation’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. * Website content is not incorporated by reference into this press release. Reporters May Contact: Bill Halldin, Bank of America Phone: 1.916.724.0093 william.halldin@bofa.com Jocelyn Seidenfeld, Bank of America Phone: 1.646.743.3356 jocelyn.seidenfeld@bofa.com

14 You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Corporation’s 2023 Annual Report on Form 10-K and in any of the Corporation’s subsequent Securities and Exchange Commission filings: the Corporation’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions, including as a result of our participation in and execution of government programs related to the Coronavirus Disease 2019 (COVID-19) pandemic, such as the processing of unemployment benefits for California and certain other states; the possibility that the Corporation's future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, and regulatory and government actions; the possibility that the Corporation could face increased claims from one or more parties involved in mortgage securitizations; the Corporation’s ability to resolve representations and warranties repurchase and related claims; the risks related to the discontinuation of reference rates, including increased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Corporation’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies and tensions, including tariffs, and potential geopolitical instability; the impact of the interest rate, inflationary, macroeconomic, banking and regulatory environment on the Corporation’s assets, business, financial condition and results of operations; the impact of adverse developments affecting the U.S. or global banking industry, including bank failures and liquidity concerns, resulting in worsening economic and market volatility, and regulatory responses thereto; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; potential losses related to the Corporation’s concentration of credit risk; the Corporation's ability to achieve its expense targets and expectations regarding revenue, net interest income, provision for credit losses, net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Corporation’s credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Corporation’s assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and / or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Corporation’s capital plans; the effect of changes in or interpretations of income tax laws and regulations; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including, but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards, derivatives regulations and potential changes to loss allocations between financial institutions and customers, including for losses incurred from the use of our products and services, including electronic payments and payment of checks, that were authorized by the customer but induced by fraud; the impact of failures or disruptions in or breaches of the Corporation’s operations or information systems, or those of third parties, including as a result of cybersecurity incidents; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learning; the risks related to the transition and physical impacts of climate change; our ability to achieve environmental, social and governance goals and commitments or the impact of any changes in the Corporation's sustainability strategy or commitments generally; the impact of uncertain political conditions or any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary or regulatory policy; the emergence or continuation of widespread health emergencies or pandemics; the impact of natural disasters, extreme weather events, military conflicts (including the Russia / Ukraine conflict, the conflict in the Middle East, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and other matters. Forward-looking statements speak only as of the date they are made, and the Corporation undertakes no obligation to update any forward- looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. “Bank of America” and “BofA Securities” are the marketing names used by the Global Banking and Global Markets divisions of Bank of America Corporation. Lending, other commercial banking activities, and trading in certain financial instruments are performed globally by banking affiliates of Bank of America Corporation, including Bank of America, N.A., Member FDIC. Trading in securities and financial instruments, and strategic advisory, and other investment banking activities, are performed globally by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”) or other affiliates, including, in the United States, BofA Securities, Inc. and Merrill Lynch, Pierce, Fenner & Smith Incorporated, each of which are registered broker-dealers and Members of SIPC, and, in other jurisdictions, by locally registered entities. BofA Securities, Inc. is registered as a futures commission merchant with the CFTC and is a member of the NFA. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured · May Lose Value · Are Not Bank Guaranteed. Bank of America Corporation’s broker-dealers are not banks and are separate legal entities from their bank affiliates. The obligations of the broker- dealers are not obligations of their bank affiliates (unless explicitly stated otherwise), and these bank affiliates are not responsible for securities sold, offered, or recommended by the broker-dealers. The foregoing also applies to other non-bank affiliates. For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom at https://newsroom.bankofamerica.com.* www.bankofamerica.com* * Website content is not incorporated by reference into this press release.

Current-period information is preliminary and based on company data available at the time of the presentation. 15 Bank of America Corporation and Subsidiaries Selected Financial Data (In millions, except per share data) Six Months Ended June 30 Second Quarter 2024 First Quarter 2024 Second Quarter 2023Summary Income Statement 2024 2023 Net interest income $ 27,734 $ 28,606 $ 13,702 $ 14,032 $ 14,158 Noninterest income 23,461 22,849 11,675 11,786 11,039 Total revenue, net of interest expense 51,195 51,455 25,377 25,818 25,197 Provision for credit losses 2,827 2,056 1,508 1,319 1,125 Noninterest expense 33,546 32,276 16,309 17,237 16,038 Income before income taxes 14,822 17,123 7,560 7,262 8,034 Income tax expense 1,251 1,554 663 588 626 Net income $ 13,571 $ 15,569 $ 6,897 $ 6,674 $ 7,408 Preferred stock dividends 847 811 315 532 306 Net income applicable to common shareholders $ 12,724 $ 14,758 $ 6,582 $ 6,142 $ 7,102 Average common shares issued and outstanding 7,933.3 8,053.5 7,897.9 7,968.2 8,040.9 Average diluted common shares issued and outstanding 7,996.2 8,162.6 7,960.9 8,031.4 8,080.7 Summary Average Balance Sheet Total cash and cash equivalents $ 370,140 $ 308,239 $ 369,631 $ 370,648 $ 385,140 Total debt securities 847,455 811,046 852,427 842,483 771,355 Total loans and leases 1,049,681 1,043,994 1,051,472 1,047,890 1,046,608 Total earning assets 2,874,257 2,722,465 2,887,935 2,860,583 2,772,943 Total assets 3,261,071 3,135,879 3,274,988 3,247,159 3,175,358 Total deposits 1,908,693 1,884,451 1,909,925 1,907,462 1,875,353 Common shareholders’ equity 264,702 251,456 265,290 264,114 254,028 Total shareholders’ equity 292,957 279,853 293,403 292,511 282,425 Performance Ratios Return on average assets 0.84 % 1.00 % 0.85 % 0.83 % 0.94 % Return on average common shareholders’ equity 9.67 11.84 9.98 9.35 11.21 Return on average tangible common shareholders’ equity (1) 13.15 16.42 13.57 12.73 15.49 Per Common Share Information Earnings $ 1.60 $ 1.83 $ 0.83 $ 0.77 $ 0.88 Diluted earnings 1.59 1.82 0.83 0.76 0.88 Dividends paid 0.48 0.44 0.24 0.24 0.22 Book value 34.39 32.05 34.39 33.71 32.05 Tangible book value (1) 25.37 23.23 25.37 24.79 23.23 Summary Period-End Balance Sheet June 30 2024 March 31 2024 June 30 2023 Total cash and cash equivalents $ 320,632 $ 313,404 $ 373,553 Total debt securities 878,417 909,982 756,158 Total loans and leases 1,056,785 1,049,156 1,051,224 Total earning assets 2,880,851 2,879,890 2,724,196 Total assets 3,257,996 3,273,803 3,123,198 Total deposits 1,910,491 1,946,496 1,877,209 Common shareholders’ equity 267,344 265,155 254,922 Total shareholders’ equity 293,892 293,552 283,319 Common shares issued and outstanding 7,774.8 7,866.9 7,953.6 Six Months Ended June 30 Second Quarter 2024 First Quarter 2024 Second Quarter 2023Credit Quality 2024 2023 Total net charge-offs $ 3,031 $ 1,676 $ 1,533 $ 1,498 $ 869 Net charge-offs as a percentage of average loans and leases outstanding (2) 0.58 % 0.33 % 0.59 % 0.58 % 0.33 % Provision for credit losses $ 2,827 $ 2,056 $ 1,508 $ 1,319 $ 1,125 June 30 2024 March 31 2024 June 30 2023 Total nonperforming loans, leases and foreclosed properties (3) $ 5,691 $ 6,034 $ 4,274 Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties (3) 0.54 % 0.58 % 0.41 % Allowance for credit losses $ 14,342 $ 14,371 $ 14,338 Allowance for loan and lease losses 13,238 13,213 12,950 Allowance for loan and lease losses as a percentage of total loans and leases outstanding (2) 1.26 % 1.26 % 1.24 % For footnotes, see page 16.

Current-period information is preliminary and based on company data available at the time of the presentation. 16 Bank of America Corporation and Subsidiaries Selected Financial Data (continued) (Dollars in millions) Capital Management June 30 2024 March 31 2024 June 30 2023 Regulatory capital metrics (4): Common equity tier 1 capital $ 198,119 $ 196,625 $ 190,113 Common equity tier 1 capital ratio - Standardized approach 11.9 % 11.9 % 11.6 % Common equity tier 1 capital ratio - Advanced approaches 13.5 13.4 13.2 Total capital ratio - Standardized approach 15.1 15.2 15.1 Total capital ratio - Advanced approaches 16.4 16.6 16.7 Tier 1 leverage ratio 7.0 7.1 7.1 Supplementary leverage ratio 6.0 6.0 6.0 Total ending equity to total ending assets ratio 9.0 9.0 9.1 Common equity ratio 8.2 8.1 8.2 Tangible equity ratio (5) 7.0 7.0 7.0 Tangible common equity ratio (5) 6.2 6.1 6.1 (1) Return on average tangible common shareholders’ equity and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. See Reconciliations to GAAP Financial Measures on page 20. (2) Ratios do not include loans accounted for under the fair value option. Charge-off ratios are annualized for the quarterly presentation. (3) Balances do not include past due consumer credit card loans, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration 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, and nonperforming loans held-for-sale or accounted for under the fair value option. (4) Regulatory capital ratios at June 30, 2024 are preliminary. Bank of America 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 June 30, 2024 and March 31, 2024; and Common equity tier 1 ratio under the Standardized approach for June 30, 2023. (5) 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 Reconciliations to GAAP Financial Measures on page 20.

Current-period information is preliminary and based on company data available at the time of the presentation. 17 Bank of America Corporation and Subsidiaries Quarterly Results by Business Segment and All Other (Dollars in millions) Second Quarter 2024 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 10,206 $ 5,574 $ 6,053 $ 5,459 $ (1,755) Provision for credit losses 1,281 7 235 (13) (2) Noninterest expense 5,464 4,199 2,899 3,486 261 Net income 2,595 1,026 2,116 1,410 (250) Return on average allocated capital (1) 24 % 22 % 17 % 13 % n/m Balance Sheet Average Total loans and leases $ 312,254 $ 222,776 $ 372,738 $ 135,106 $ 8,598 Total deposits 949,180 287,678 525,357 31,944 115,766 Allocated capital (1) 43,250 18,500 49,250 45,500 n/m Period end Total loans and leases $ 312,801 $ 224,837 $ 372,421 $ 138,441 $ 8,285 Total deposits 952,473 281,283 522,525 33,151 121,059 First Quarter 2024 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 10,166 $ 5,591 $ 5,980 $ 5,883 $ (1,644) Provision for credit losses 1,150 (13) 229 (36) (11) Noninterest expense 5,475 4,264 3,012 3,492 994 Net income (loss) 2,656 1,005 1,986 1,723 (696) Return on average allocated capital (1) 25 % 22 % 16 % 15 % n/m Balance Sheet Average Total loans and leases $ 313,038 $ 218,616 $ 373,608 $ 133,756 $ 8,872 Total deposits 952,466 297,373 525,699 32,585 99,339 Allocated capital (1) 43,250 18,500 49,250 45,500 n/m Period end Total loans and leases $ 311,725 $ 219,844 $ 373,403 $ 135,267 $ 8,917 Total deposits 978,761 298,039 527,113 34,847 107,736 Second Quarter 2023 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 10,524 $ 5,242 $ 6,462 $ 4,871 $ (1,767) Provision for credit losses 1,267 13 9 (4) (160) Noninterest expense 5,453 3,925 2,819 3,349 492 Net income 2,853 978 2,653 1,106 (182) Return on average allocated capital (1) 27 % 21 % 22 % 10 % n/m Balance Sheet Average Total loans and leases $ 306,662 $ 218,604 $ 383,058 $ 128,539 $ 9,745 Total deposits 1,006,337 295,380 497,533 33,222 42,881 Allocated capital (1) 42,000 18,500 49,250 45,500 n/m Period end Total loans and leases $ 309,735 $ 219,208 $ 381,609 $ 131,128 $ 9,544 Total deposits 1,004,482 292,526 492,734 33,049 54,418 (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. n/m = not meaningful The Company reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis.

Current-period information is preliminary and based on company data available at the time of the presentation. 18 Bank of America Corporation and Subsidiaries Year-to-Date Results by Business Segment and All Other (Dollars in millions) Six Months Ended June 30, 2024 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 20,372 $ 11,165 $ 12,033 $ 11,342 $ (3,399) Provision for credit losses 2,431 (6) 464 (49) (13) Noninterest expense 10,939 8,463 5,911 6,978 1,255 Net income (loss) 5,251 2,031 4,102 3,133 (946) Return on average allocated capital (1) 24 % 22 % 17 % 14 % n/m Balance Sheet Average Total loans and leases $ 312,646 $ 220,696 $ 373,173 $ 134,431 $ 8,735 Total deposits 950,823 292,525 525,528 32,265 107,552 Allocated capital (1) 43,250 18,500 49,250 45,500 n/m Period end Total loans and leases $ 312,801 $ 224,837 $ 372,421 $ 138,441 $ 8,285 Total deposits 952,473 281,283 522,525 33,151 121,059 Six Months Ended June 30, 2023 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense $ 21,230 $ 10,557 $ 12,665 $ 10,497 $ (3,225) Provision for credit losses 2,356 38 (228) (57) (53) Noninterest expense 10,926 7,992 5,759 6,700 899 Net income 5,961 1,895 5,208 2,794 (289) Return on average allocated capital (1) 29 % 21 % 21 % 12 % n/m Balance Sheet Average Total loans and leases $ 305,225 $ 220,018 $ 382,039 $ 126,802 $ 9,910 Total deposits 1,016,234 304,648 495,069 34,658 33,842 Allocated capital (1) 42,000 18,500 49,250 45,500 n/m Period end Total loans and leases $ 309,735 $ 219,208 $ 381,609 $ 131,128 $ 9,544 Total deposits 1,004,482 292,526 492,734 33,049 54,418 (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. n/m = not meaningful

Current-period information is preliminary and based on company data available at the time of the presentation. 19 Bank of America Corporation and Subsidiaries Supplemental Financial Data (Dollars in millions) Six Months Ended June 30 Second Quarter 2024 First Quarter 2024 Second Quarter 2023FTE basis data (1) 2024 2023 Net interest income $ 28,052 $ 28,875 $ 13,862 $ 14,190 $ 14,293 Total revenue, net of interest expense 51,513 51,724 25,537 25,976 25,332 Net interest yield 1.96 % 2.13 % 1.93 % 1.99 % 2.06 % Efficiency ratio 65.12 62.40 63.86 66.36 63.31 Other Data June 30 2024 March 31 2024 June 30 2023 Number of financial centers - U.S. 3,786 3,804 3,887 Number of branded ATMs - U.S. 14,972 15,028 15,335 Headcount 212,318 212,335 215,546 (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 $318 million and $269 million for the six months ended June 30, 2024 and 2023, $160 million and $158 million for the second and first quarters of 2024, and $135 million for the second quarter of 2023.

Current-period information is preliminary and based on company data available at the time of the presentation. 20 The Corporation evaluates its business using certain non-GAAP financial measures, including pretax, pre-provision income (as defined in Endnote H on page 11) 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 six months ended June 30, 2024 and 2023, and the three months ended June 30, 2024, March 31, 2024 and June 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. Bank of America Corporation and Subsidiaries Reconciliations to GAAP Financial Measures (Dollars in millions, except per share information) Six Months Ended June 30 Second Quarter 2024 First Quarter 2024 Second Quarter 2023 2024 2023 Reconciliation of income before income taxes to pretax, pre-provision income Income before income taxes $ 14,822 $ 17,123 $ 7,560 $ 7,262 $ 8,034 Provision for credit losses 2,827 2,056 1,508 1,319 1,125 Pretax, pre-provision income $ 17,649 $ 19,179 $ 9,068 $ 8,581 $ 9,159 Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity Shareholders’ equity $ 292,957 $ 279,853 $ 293,403 $ 292,511 $ 282,425 Goodwill (69,021) (69,022) (69,021) (69,021) (69,022) Intangible assets (excluding mortgage servicing rights) (1,980) (2,058) (1,971) (1,990) (2,049) Related deferred tax liabilities 871 897 869 874 895 Tangible shareholders’ equity $ 222,827 $ 209,670 $ 223,280 $ 222,374 $ 212,249 Preferred stock (28,255) (28,397) (28,113) (28,397) (28,397) Tangible common shareholders’ equity $ 194,572 $ 181,273 $ 195,167 $ 193,977 $ 183,852 Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity Shareholders’ equity $ 293,892 $ 283,319 $ 293,892 $ 293,552 $ 283,319 Goodwill (69,021) (69,021) (69,021) (69,021) (69,021) Intangible assets (excluding mortgage servicing rights) (1,958) (2,036) (1,958) (1,977) (2,036) Related deferred tax liabilities 864 890 864 869 890 Tangible shareholders’ equity $ 223,777 $ 213,152 $ 223,777 $ 223,423 $ 213,152 Preferred stock (26,548) (28,397) (26,548) (28,397) (28,397) Tangible common shareholders’ equity $ 197,229 $ 184,755 $ 197,229 $ 195,026 $ 184,755 Reconciliation of period-end assets to period-end tangible assets Assets $ 3,257,996 $ 3,123,198 $ 3,257,996 $ 3,273,803 $ 3,123,198 Goodwill (69,021) (69,021) (69,021) (69,021) (69,021) Intangible assets (excluding mortgage servicing rights) (1,958) (2,036) (1,958) (1,977) (2,036) Related deferred tax liabilities 864 890 864 869 890 Tangible assets $ 3,187,881 $ 3,053,031 $ 3,187,881 $ 3,203,674 $ 3,053,031 Book value per share of common stock Common shareholders’ equity $ 267,344 $ 254,922 $ 267,344 $ 265,155 $ 254,922 Ending common shares issued and outstanding 7,774.8 7,953.6 7,774.8 7,866.9 7,953.6 Book value per share of common stock $ 34.39 $ 32.05 $ 34.39 $ 33.71 $ 32.05 Tangible book value per share of common stock Tangible common shareholders’ equity $ 197,229 $ 184,755 $ 197,229 $ 195,026 $ 184,755 Ending common shares issued and outstanding 7,774.8 7,953.6 7,774.8 7,866.9 7,953.6 Tangible book value per share of common stock $ 25.37 $ 23.23 $ 25.37 $ 24.79 $ 23.23

Bank of America 2Q24 Financial Results July 16, 2024

Note: Amounts may not total due to rounding. 1 Amounts in this column (other than total revenue, net of interest expense, provision for credit losses, and average diluted common shares) are adjusted for the FDIC special assessment accrual. Adjusted amounts represent non-GAAP financial measures. For a reconciliation to the most directly comparable GAAP financial measures, see note A on slide 32. For important presentation information, see slide 36. 2 For more information on reserve build (release), see note B on slide 32. 3 Represent non-GAAP financial measures. For more information on pretax, pre-provision income and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information about these measures, see slide 36. ($B, except per share data) 2Q24 1Q24 Inc / (Dec) 1Q24 Adj.1 Inc / (Dec) 2Q23 Inc / (Dec) Total revenue, net of interest expense $25.4 $25.8 ($0.4) (2) % $25.8 ($0.4) (2) % $25.2 $0.2 1 % Provision for credit losses 1.5 1.3 0.2 14 1.3 0.2 14 1.1 0.4 34 Net charge-offs 1.5 1.5 — 2 1.5 — 2 0.9 0.7 76 Reserve build (release)2 — (0.2) 0.2 (86) (0.2) 0.2 (86) 0.3 (0.3) (110) Noninterest expense 16.3 17.2 (0.9) (5) 16.5 (0.2) (1) 16.0 0.3 2 Pretax income 7.6 7.3 0.3 4 8.0 (0.4) (5) 8.0 (0.5) (6) Pretax, pre-provision income3 9.1 8.6 0.5 6 9.3 (0.2) (2) 9.2 (0.1) (1) Income tax expense 0.7 0.6 0.1 13 0.8 (0.1) (12) 0.6 — 6 Net income $6.9 $6.7 $0.2 3 $7.2 ($0.3) (4) $7.4 ($0.5) (7) Diluted earnings per share $0.83 $0.76 $0.07 9 $0.83 $— — $0.88 ($0.05) (6) Average diluted common shares (in millions) 7,961 8,031 (71) (1) 8,031 (71) (1) 8,081 (120) (1) Return Metrics and Efficiency Ratio Return on average assets 0.85 % 0.83 % 0.89 % 0.94 % Return on average common shareholders' equity 10.0 9.4 10.2 11.2 Return on average tangible common shareholders' equity3 13.6 12.7 13.8 15.5 Efficiency ratio 64 67 64 64 2Q24 Financial Results 2

#3 investment banking fee ranking; grew 1H24 market share 42 bps YoY4 Grew 1H24 investment banking fees 32% YoY to $3.1B Grew Middle Market loan balances 4% YoY5 Grew average deposits 6% from 2Q23 9 consecutive quarters of YoY sales and trading revenue growth Highest 2Q sales and trading revenue in over a decade Record average loan balances of $135B, up 5% YoY; 15 consecutive quarters of growth Zero trading loss days in 1H24 Added ~6,100 net new relationships across Merrill and Private Bank Opened ~30,000 new bank accounts; over 60% of clients have banking relationship Record client balances of over $4T, up 10% YoY Grew loan balances 3% YoY to $225B Continued Organic Growth in 2Q24 3 Consumer Banking Global Wealth & Investment Management Global Banking Global Markets Added ~278,000 net new checking accounts; 22 consecutive quarters of growth Added ~1MM credit card accounts1 Record consumer investment assets of $476B,2 up 23% YoY; 3.9MM accounts, up 6% 13 consecutive quarters of Small Business loan growth $5.7T total deposits, loans, and investment balances $58B total net wealth spectrum flows since 2Q233 Note: Balance sheet metrics are end of period unless otherwise noted. 1 Includes credit cards across Consumer Banking, Small Business, and Global Wealth & Investment Management (GWIM). 2 Consumer investment assets include client brokerage assets, deposit sweep balances, Bank of America N.A. brokered certificates of deposit (CDs), and assets under management (AUM) in Consumer Banking. 3 Includes net client flows across Merrill, Private Bank, and Consumer Investments. 4 Source: Dealogic as of June 30, 2024. 5 Includes loans to Global Commercial Banking clients, excluding commercial real estate and specialized industries.

$2,012 $1,963 $1,926 $1,894 $1,875 $1,876 $1,905 $1,907 $1,910 Interest-bearing Noninterest-bearing QoQ Δ in total rate paid (RHS) 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $750 $1,500 $2,250 0.00% 0.50% 1.00% Consumer Banking ($B) GWIM ($B) Global Banking ($B) Total Corporation ($B) Average Deposits and Rate Paid Trends 4 $1,078 $1,069 $1,047 $1,026 $1,006 $980 $959 $952 $949 Other deposits Core operating deposits QoQ Δ in total rate paid (RHS) 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $250 $500 $750 $1,000 $1,250 0.00% 0.25% 0.50% $364 $339 $318 $314 $295 $292 $292 $297 $288 Bank deposits Sweep deposits QoQ Δ in total rate paid (RHS) 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $200 $400 0.00% 1.00% 2.00% $509 $495 $503 $493 $498 $504 $528 $526 $525 Interest-bearing Noninterest-bearing QoQ Δ in total rate paid (RHS) 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $200 $400 $600 0.00% 0.50% 1.00% 1.50% Note: Total Corporation also includes Global Markets and All Other. 1 Includes Preferred Deposits, other non-sweep Merrill bank deposits, and Private Bank deposits. 1

4Q19 2Q24 $0 $1,000 $2,000 $3,000 Credit Card Update 30+ Days Past Due ($MM)1 Payment Rates Remain Elevated while Utilization Rates are Lower Compared to 4Q191,2 4Q19 2Q24 $0 $500 $1,000 $1,500 90+ Days Past Due ($MM)1 5 2.09% 2.43% Delinquency rate 1.07% 1.26% Utilization rate Payment rate 4Q19 2Q24 0.8X 1.0X 1.3X 1.5X Growth in Deposit and Investment Balances of Credit Card Clients3 4Q19 2Q24 (20%) 0% 20% 40% +25% 1.2X 0.9X 1 Includes consumer credit card portfolios in Consumer Banking and GWIM. 2 Utilization rate is calculated as ending loan balances divided by open or active credit line commitments. Payment rate is calculated as in-month payment volume divided by previous month ending loan balances. Quarterly payment rate is the average of monthly payment rates. 3 Represent average Bank of America deposit and investment account balances of consumer credit card clients in Consumer Banking and GWIM. Delinquency rate

1 ROE stands for return on average common shareholders’ equity. ROTCE stands for return on average tangible common shareholders’ equity. FTE stands for fully taxable-equivalent basis. 2 Represent non-GAAP financial measures. For important presentation information about these measures, see slide 36. 3 Exclude loans measured at fair value. 4 See note D on slide 33 for definition of Global Liquidity Sources. 5 Subject to approval from the Bank of America Corporation (the Corporation) Board of Directors. 2Q24 Highlights (Comparisons to 2Q23, unless otherwise noted) • Net income of $6.9B; diluted earnings per share of $0.83; ROE1 10.0%, ROTCE1,2 13.6% • Revenue, net of interest expense, of $25.4B increased $0.2B, or 1%, reflecting higher asset management and investment banking fees, as well as sales and trading revenue, and lower net interest income (NII) – NII of $13.7B ($13.9B FTE)1,2 decreased $0.5B, or 3%, as higher deposit costs more than offset higher asset yields and modest loan growth • Provision for credit losses of $1.5B vs. $1.1B in 2Q23 and $1.3B in 1Q24 – Net charge-offs (NCOs)3 of $1.5B increased compared to 2Q23, driven by credit card and commercial real estate office, and were relatively flat compared to 1Q24 – Net reserve release of $25MM vs. net reserve build of $256MM in 2Q23 and net reserve release of $179MM in 1Q24 • Noninterest expense of $16.3B increased $0.3B, or 2%, driven by investments in people and revenue-related compensation • Balance sheet remained strong – Average deposits of $1.91T increased $35B, or 2%, vs. 2Q23 – Average loans and leases of $1.05T increased modestly vs. 2Q23 – Average Global Liquidity Sources4 of $909B – Common Equity Tier 1 capital of $198B increased $1B from 1Q24 ▪ Returned $5.4B to shareholders – Paid $1.9B in common dividends; announced an 8% increase in quarterly common dividend, effective 3Q245 – Repurchased $3.5B of common stock, including repurchases to offset shares awarded under equity-based compensation plans – Common Equity Tier 1 ratio of 11.9% increased 6 bps from 1Q24; 122 bps above new regulatory minimum, effective October 1, 2024 6

Balance Sheet Metrics 2Q24 1Q24 2Q23 Basel 3 Capital ($B)4 2Q24 1Q24 2Q23 Assets ($B) Common equity tier 1 capital $198 $197 $190 Total assets $3,258 $3,274 $3,123 Standardized approach Total loans and leases 1,057 1,049 1,051 Risk-weighted assets (RWA) $1,662 $1,658 $1,639 Cash and cash equivalents 321 313 374 CET1 ratio 11.9 % 11.9 % 11.6 % Total debt securities 878 910 756 Advanced approaches Risk-weighted assets $1,469 $1,463 $1,436 Funding & Liquidity ($B) CET1 ratio 13.5 % 13.4 % 13.2 % Total deposits $1,910 $1,946 $1,877 Supplementary leverage Long-term debt 290 296 286 Supplementary Leverage Ratio 6.0 % 6.0 % 6.0 % Global Liquidity Sources (average)2 909 909 867 Equity ($B) Common shareholders' equity $267 $265 $255 Common equity ratio 8.2 % 8.1 % 8.2 % Tangible common shareholders' equity3 $197 $195 $185 Tangible common equity ratio3 6.2 % 6.1 % 6.1 % Per Share Data Book value per common share $34.39 $33.71 $32.05 Tangible book value per common share3 25.37 24.79 23.23 Common shares outstanding (in billions) 7.77 7.87 7.95 1 EOP stands for end of period. 2 See note D on slide 33 for definition of Global Liquidity Sources. 3 Represent non-GAAP financial measures. For important presentation information, see slide 36. 4 Regulatory capital ratios at June 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 June 30, 2024, and March 31, 2024, and the CET1 ratio under the Standardized approach for June 30, 2023. Balance Sheet, Liquidity, and Capital (EOP1 basis unless noted) 7 • CET1 ratio of 11.9% increased 6 bps from 1Q244 – CET1 capital of $198B increased $1B – Standardized RWA of $1,662B increased $4B • Book value per share of $34.39 improved 7% from 2Q23; tangible book value per share of $25.37 improved 9% from 2Q233 • Average Global Liquidity Sources of $909B were flat compared to 1Q242

$1,037 $1,037 $1,041 $1,039 $1,043 307 311 313 313 312 219 219 219 219 223 383 376 375 374 373 129 131 134 134 135 Consumer Banking GWIM Global Banking Global Markets 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $250 $500 $750 $1,000 $1,250 $1,047 $1,046 $1,051 $1,048 $1,051 2Q23 3Q23 4Q23 1Q24 2Q24 $800 $900 $1,000 $1,100 +2% +2% (3%) +5% Average Loan and Lease Trends YoY +0.5% YoY +1% Note: Amounts may not total due to rounding. 1 Includes residential mortgage and home equity. 2 Includes direct / indirect and other consumer and commercial lease financing. Total Loans and Leases by Product ($B) Loans and Leases in Business Segments ($B) Total Loans and Leases by Portfolio ($B)Total Loans and Leases ($B) $454 $457 $459 $456 $456 $593 $589 $592 $591 $596 Consumer Commercial 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $250 $500 $750 8 $1,047 $1,046 $1,051 $1,048 $1,051 379 378 379 380 386 255 255 255 253 253 126 124 125 125 123 119 118 118 118 119 94 98 100 100 99 74 74 73 72 71 U.S. commercial Home lending Non-U.S. commercial Other Consumer credit card Commercial real estate 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $250 $500 $750 $1,000 $1,250 2 1

• Net interest income of $13.7B ($13.9B FTE)1 – Decreased $0.5B YoY, as higher deposit costs more than offset higher asset yields, higher NII related to Global Markets (GM) activity, and modest loan growth – Decreased $0.3B from 1Q24, driven primarily by higher deposit costs – NII related to GM activity increased approximately $0.5B YoY and $0.1B from 1Q24 • Net interest yield of 1.93% decreased 13 bps YoY and 6 bps from 1Q24 – Excluding GM, net interest yield of 2.41%1 Net Interest Income (FTE, $B)1 Net Interest Income Net Interest Yield (FTE)1 Note: Amounts may not total due to rounding. FTE stands for fully taxable-equivalent basis. 1 Represent non-GAAP financial measures. Net interest yield adjusted to exclude Global Markets NII of $0.8B, $0.7B, $0.6B, $0.7B, and $0.3B and average earning assets of $706.4B, $692.9B, $667.1B, $656.0B, and $657.9B for 2Q24, 1Q24, 4Q23, 3Q23, and 2Q23, respectively. The Corporation believes the presentation of NII and net interest yield excluding Global Markets provides investors with transparency of NII and net interest yield in core banking activities. For important presentation information, see slide 36. 2.06% 2.11% 1.97% 1.99% 1.93% 2.65% 2.64% 2.47% 2.50% 2.41% Reported net interest yield Net interest yield excl. GM 2Q23 3Q23 4Q23 1Q24 2Q24 1.00% 2.00% 3.00% $14.3 $14.5 $14.1 $14.2 $13.9 $14.2 $14.4 $13.9 $14.0 $13.7 Net interest income (GAAP) FTE adjustment 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $5.0 $10.0 $15.0 9 Net Interest Income excl. GM (FTE, $B)1 $14.3 $14.5 $14.1 $14.2 $13.9 $14.0 $13.9 $13.5 $13.5 $13.1 NII excl. GM GM NII 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $5.0 $10.0 $15.0

Net Interest Income Outlook1,2 10 2Q24 Fixed-rate asset repricing BSBY cessation impact Day count Impact of interest rate cuts Global Markets NII Other balance sheet growth / mix 4Q24 ~$14.5B $13.9B • Held-to- maturity (HTM) securities • Mortgage loans • Auto loans ~$300MM ~$125MM~$200MM 3 • Low-single digit loan and deposit growth • Slowing deposit rotation ~($225MM) ~$100MM ~($50MM)- $200MM • 25 bp interest rate cuts in September, November, and December 2024 Note: Amounts may not total due to use of ranges for select drivers presented. 1 FTE basis. Represents a non-GAAP financial measure. For important presentation information, see slide 36. A reconciliation to the most directly comparable GAAP measure for the 4Q24 period is not included as it cannot be prepared without unreasonable effort. 2 For cautionary information in connection with these forward-looking statements, see note E on slide 33, and slide 35. 3 The 4Q23 pretax noninterest income charge of $1.6B related to the Bloomberg Short-Term Bank Yield Index (BSBY) cessation is expected to be recognized back into interest income beginning with the November 15, 2024 BSBY cessation and through subsequent periods, largely through 2026.

• 1Q24 and 4Q23 noninterest expense of $17.2B and $17.7B included accruals of $0.7B and $2.1B for the estimated amount of the FDIC special assessment for uninsured deposits of certain failed banks • 2Q24 noninterest expense of $16.3B increased $0.3B, or 2%, vs. 2Q23, driven primarily by investments in people and revenue-related compensation, partially offset by lower litigation expense • Noninterest expense declined $0.9B, or 5%, vs. 1Q24, driven by the absence of both the FDIC special assessment accrual and seasonally higher payroll taxes in the first quarter, partially offset by higher revenue-related expenses $16.0 $15.8 $17.7 $17.2 $16.3 9.4 9.6 9.5 10.2 9.8 6.6 6.3 6.1 6.3 6.5 2.1 0.7 Compensation and benefits Other FDIC special assessment 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $10.0 $20.0 64% 63% 66% 64% 64% 2Q23 3Q23 4Q23 1Q24 2Q24 55% 60% 65% 70% Total Noninterest Expense ($B) Efficiency Ratio Expense and Efficiency 11 1 $16.51 Note: Amounts may not total due to rounding. 1 Represent non-GAAP financial measures. 1Q24 adjusted noninterest expense of $16.5B is calculated as reported noninterest expense of $17.2B less the FDIC special assessment accrual of $0.7B. 4Q23 adjusted noninterest expense of $15.6B is calculated as reported noninterest expense of $17.7B, less the FDIC special assessment accrual of $2.1B. Adjusted 1Q24 efficiency ratio is calculated as the reported 1Q24 efficiency ratio of 67% less 271 bps for the impact of the FDIC special assessment accrual. Adjusted 4Q23 efficiency ratio is calculated as the reported 4Q23 efficiency ratio of 81% less 1,430 bps for the combined impact of the net pretax charge of $1.6B recorded in noninterest income related to the future cessation of BSBY, as well as the $2.1B pretax noninterest expense for the FDIC special assessment accrual. For more information, see note A on slide 32. For important presentation information about these measures, see slide 36. $15.61 1 0.7

Asset Quality 1 Excludes loans measured at fair value. 2 Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. Provision for Credit Losses ($MM) Net Charge-offs ($MM)1 $1,125 $1,234 $1,104 $1,319 $1,508 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $400 $800 $1,200 $1,600 $869 $931 $1,192 $1,498 $1,533 0.33% 0.35% 0.45% 0.58% 0.59% Net charge-offs Net charge-off ratio 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $400 $800 $1,200 $1,600 0.00% 0.25% 0.50% 0.75% 1.00% 12 • Total net charge-offs of $1.5B increased $35MM from 1Q241 – Consumer net charge-offs of $1.1B increased $31MM, driven by higher credit card losses – Credit card loss rate of 3.88% in 2Q24 vs. 3.62% in 1Q24 – Commercial net charge-offs of $474MM were relatively flat • Net charge-off ratio of 0.59% increased 1 bp from 1Q24 • Provision for credit losses of $1.5B increased $189MM vs. 1Q24 – Net reserve release of $25MM in 2Q24 vs. $179MM in 1Q24 • Allowance for loan and lease losses of $13.2B represented 1.26% of total loans and leases1,2 – Total allowance of $14.3B included $1.1B for unfunded commitments • Nonperforming loans (NPLs) of $5.5B decreased $0.4B from 1Q24, driven primarily by the commercial real estate office portfolio – 61% of Consumer NPLs are contractually current • Commercial reservable criticized utilized exposure of $24.8B increased $0.2B from 1Q24

Commercial Net Charge-offs ($MM) Consumer Net Charge-offs ($MM) Asset Quality – Consumer and Commercial Portfolios 1 Excludes loans measured at fair value. 2 Fully-insured loans are FHA-insured loans and other loans individually insured under long-term standby agreements. 3 C&I includes commercial and industrial and commercial lease financing. $149 $127 $279 $470 $474 0.10% 0.09% 0.19% 0.32% 0.32% Small business Commercial real estate C&I Commercial NCO ratio 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $200 $400 $600 0.00% 0.20% 0.40% 0.60% $720 $804 $913 $1,028 $1,059 0.64% 0.70% 0.79% 0.91% 0.93% Credit card Other Consumer NCO ratio 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $400 $800 $1,200 0.00% 0.50% 1.00% 1.50% Commercial Metrics ($MM) 2Q24 1Q24 2Q23 Provision $414 $360 $25 Reservable criticized utilized exposure 24,761 24,529 21,469 Nonperforming loans and leases 2,802 3,186 1,397 % of loans and leases1 0.47 % 0.54 % 0.24 % Allowance for loans and leases $4,724 $4,737 $5,200 % of loans and leases1 0.79 % 0.80 % 0.88 % Consumer Metrics ($MM) 2Q24 1Q24 2Q23 Provision $1,094 $959 $1,100 Nonperforming loans and leases 2,671 2,697 2,729 % of loans and leases1 0.58 % 0.59 % 0.60 % Consumer 30+ days performing past due $4,346 $4,206 $3,603 Fully-insured2 466 476 525 Non fully-insured 3,880 3,730 3,078 Consumer 90+ days performing past due 1,474 1,531 1,185 Allowance for loans and leases 8,514 8,476 7,750 % of loans and leases1 1.86 % 1.87 % 1.70 % # times annualized NCOs 2.00 x 2.05 x 2.68 x 13 3

• Net income of $2.6B • Revenue of $10.2B decreased 3% from 2Q23, driven primarily by the impact of lower deposit balances • Provision for credit losses of $1.3B was relatively flat compared to 2Q23 – Net charge-offs of $1.2B increased $369MM from 2Q23, driven by credit card – Net reserve build of $93MM vs. $448MM in 2Q23 • Noninterest expense of $5.5B was relatively flat compared to 2Q23 – Efficiency ratio of 54% • Average deposits of $949B decreased $57B, or 6%, from 2Q23 – 58% of deposits in checking accounts; 92% are primary accounts5 • Average loans and leases of $312B increased $6B, or 2%, from 2Q23 • Combined credit / debit card spend of $234B increased 3% from 2Q234 • Record consumer investment assets of $476B grew $89B, or 23%, from 2Q23,3 driven by $38B of net client flows from new and existing clients and higher market valuations – 3.9MM consumer investment accounts, up 6% • 11.1MM Total clients enrolled in Preferred Rewards, up 7% from 2Q236 – 99% annualized retention rate Consumer Banking 1 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information, see slide 36. 2 Cost of deposits calculated as annualized noninterest expense as a percentage of total average deposits within the Deposits sub-segment. 3 End of period. Consumer investment assets includes client brokerage assets, deposit sweep balances, Bank of America, N.A. brokered CDs, and AUM in Consumer Banking. 4 Includes consumer credit card portfolios in Consumer Banking and GWIM. 5 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 6 As of May 2024. Includes clients in Consumer, Small Business, and GWIM. Inc / (Dec) Summary Income Statement ($MM) 2Q24 1Q24 2Q23 Total revenue, net of interest expense $10,206 $40 ($318) Provision for credit losses 1,281 131 14 Noninterest expense 5,464 (11) 11 Pretax income 3,461 (80) (343) Pretax, pre-provision income1 4,742 51 (329) Income tax expense 866 (19) (85) Net income $2,595 ($61) ($258) Key Indicators ($B) 2Q24 1Q24 2Q23 Average deposits $949.2 $952.5 $1,006.3 Rate paid on deposits 0.60 % 0.55 % 0.22 % Cost of deposits2 1.44 1.43 1.37 Average loans and leases $312.3 $313.0 $306.7 Net charge-off ratio 1.53 % 1.47 % 1.07 % Net charge-offs ($MM) $1,188 $1,144 $819 Reserve build ($MM) 93 6 448 Consumer investment assets3 $476.1 $456.4 $386.8 Active mobile banking users (MM) 39.0 38.5 37.3 % Consumer sales through digital channels 53 % 50 % 51 % Number of financial centers 3,786 3,804 3,887 Combined credit / debit purchase volumes4 $233.6 $219.4 $226.1 Total consumer credit card risk-adjusted margin4 6.75 % 6.81 % 7.83 % Return on average allocated capital 24 25 27 Allocated capital $43.3 $43.3 $42.0 Efficiency ratio 54 % 54 % 52 % 14

• Net income of $1.0B • Revenue of $5.6B increased 6% from 2Q23, driven by 14% higher asset management fees, due to higher market levels and strong AUM flows, partially offset by lower net interest income • Noninterest expense of $4.2B increased 7% vs. 2Q23, driven by revenue-related incentives • Client balances of $4T increased 10% from 2Q23, driven by higher market valuations and positive net client flows – AUM flows of $11B in 2Q24 • Average deposits of $288B decreased $8B, or 3%, from 2Q23 • Average loans and leases of $223B increased $4B, or 2%, from 2Q23 • Added ~6,100 net new relationships across Merrill and Private Bank in 2Q24 • 85% of GWIM households / relationships digitally active across the enterprise, up from 83% in 2Q232 Global Wealth & Investment Management 1 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information, see slide 36. 2 Digital Adoption is the percentage of digitally active Merrill primary households ($250K+ in investable assets within the enterprise) and digitally active Private Bank core relationships ($3MM+ in total balances). Merrill excludes Stock Plan and Banking-only households. Private Bank includes third-party activities and excludes Irrevocable Trust-only relationships, Institutional Philanthropic relationships, and exiting relationships. Digital Adoption as of May 2024 for Private Bank and as of June 2024 for Merrill. Inc / (Dec) Summary Income Statement ($MM) 2Q24 1Q24 2Q23 Total revenue, net of interest expense $5,574 ($17) $332 Provision (benefit) for credit losses 7 20 (6) Noninterest expense 4,199 (65) 274 Pretax income 1,368 28 64 Pretax, pre-provision income1 1,375 48 58 Income tax expense 342 7 16 Net income $1,026 $21 $48 Key Indicators ($B) 2Q24 1Q24 2Q23 Average deposits $287.7 $297.4 $295.4 Rate paid on deposits 3.14 % 2.89 % 2.35 % Average loans and leases $222.8 $218.6 $218.6 Net charge-off ratio 0.02 % 0.03 % 0.01 % Net charge-offs ($MM) $11 $17 $3 Reserve build (release) ($MM) (4) (30) 10 AUM flows $10.8 $24.7 $14.3 Pretax margin 25 % 24 % 25 % Return on average allocated capital 22 22 21 Allocated capital $18.5 $18.5 $18.5 15

• Net income of $2.1B • Revenue of $6.1B decreased 6% from 2Q23, driven primarily by lower net interest income and leasing revenue, partially offset by higher investment banking fees – Total Corporation investment banking fees (ex. self-led) of $1.6B increased 29% vs. 2Q23; #3 investment banking fee ranking3 • Provision for credit losses of $235MM vs. $9MM in 2Q23 – Net charge-offs of $346MM increased $287MM from 2Q23, driven primarily by commercial real estate office – Net reserve release of $111MM vs. $50MM in 2Q23 • Noninterest expense of $2.9B increased 3% vs. 2Q23 • Average deposits of $525B increased $28B, or 6%, from 2Q23 • Average loans and leases of $373B decreased $10B, or 3%, from 2Q23, reflecting lower client demand Global Banking 1 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 2 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information, see slide 36. 3 Source: Dealogic as of June 30, 2024. Inc / (Dec) Summary Income Statement ($MM) 2Q24 1Q24 2Q23 Total revenue, net of interest expense1 $6,053 $73 ($409) Provision for credit losses 235 6 226 Noninterest expense 2,899 (113) 80 Pretax income 2,919 180 (715) Pretax, pre-provision income2 3,154 186 (489) Income tax expense 803 50 (178) Net income $2,116 $130 ($537) Selected Revenue Items ($MM) 2Q24 1Q24 2Q23 Total Corporation IB fees (excl. self-led)1 $1,561 $1,568 $1,212 Global Banking IB fees1 835 850 718 Business Lending revenue 2,565 2,404 2,692 Global Transaction Services revenue 2,561 2,666 2,923 Key Indicators ($B) 2Q24 1Q24 2Q23 Average deposits $525.4 $525.7 $497.5 Average loans and leases 372.7 373.6 383.1 Net charge-off ratio 0.38 % 0.38 % 0.06 % Net charge-offs ($MM) $346 $350 $59 Reserve build (release) ($MM) (111) (121) (50) Return on average allocated capital 17 % 16 % 22 % Allocated capital $49.3 $49.3 $49.3 Efficiency ratio 48 % 50 % 44 % 16

Global Markets1 • Net income of $1.4B, both including and excluding net DVA3 • Revenue of $5.5B increased 12% from 2Q23, driven by higher sales and trading revenue and investment banking fees • Sales and trading revenue of $4.7B increased 9% from 2Q23; excluding net DVA, up 7%3 – FICC revenue increased 3% (ex. DVA, down 1%),3 to $2.7B, driven by improved client activity and trading performance in mortgages, partially offset by a weaker trading environment in foreign exchange and interest rates products – Equities revenue increased 20% (ex. DVA, up 20%),3 to $1.9B, driven by strong client activity and trading performance in cash and derivatives • Noninterest expense of $3.5B increased 4% vs. 2Q23, driven by higher revenue-related expenses and investments in the business, including technology • Average VaR of $90MM in 2Q245 1 The explanations for current period-over-period changes for Global Markets are the same for amounts including and excluding net DVA. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Represents a non-GAAP financial measure. Reported FICC sales and trading revenue was $2.7B, $3.2B, and $2.7B for 2Q24, 1Q24, and 2Q23, respectively. Reported Equities sales and trading revenue was $1.9B, $1.9B, and $1.6B for 2Q24, 1Q24, and 2Q23, respectively. See note F on slide 33 and slide 36 for important presentation information. 4 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information, see slide 36. 5 See note G on slide 33 for the definition of VaR. Inc / (Dec) Summary Income Statement ($MM) 2Q24 1Q24 2Q23 Total revenue, net of interest expense2 $5,459 ($424) $588 Net DVA (1) 84 101 Total revenue (excl. net DVA)2,3 5,460 (508) 487 Provision (benefit) for credit losses (13) 23 (9) Noninterest expense 3,486 (6) 137 Pretax income 1,986 (441) 460 Pretax, pre-provision income4 1,973 (418) 451 Income tax expense 576 (128) 156 Net income $1,410 ($313) $304 Net income (excl. net DVA)3 $1,411 ($377) $227 Selected Revenue Items ($MM)2 2Q24 1Q24 2Q23 Sales and trading revenue $4,679 $5,092 $4,285 Sales and trading revenue (excl. net DVA)3 4,680 5,177 4,387 FICC (excl. net DVA)3 2,737 3,307 2,764 Equities (excl. net DVA)3 1,943 1,870 1,623 Global Markets IB fees 719 708 503 Key Indicators ($B) 2Q24 1Q24 2Q23 Average total assets $908.5 $895.4 $877.5 Average trading-related assets 639.8 629.8 621.1 Average 99% VaR ($MM)5 90 80 76 Average loans and leases 135.1 133.8 128.5 Net charge-offs ($MM) 2 — 5 Reserve build (release) ($MM) (15) (36) (9) Return on average allocated capital 13 % 15 % 10 % Allocated capital $45.5 $45.5 $45.5 Efficiency ratio 64 % 59 % 69 % 17

All Other1 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 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information, see slide 36. Inc / (Dec) Summary Income Statement ($MM) 2Q24 1Q24 2Q23 Total revenue, net of interest expense ($1,755) ($111) $12 Provision (benefit) for credit losses (2) 9 158 Noninterest expense 261 (733) (231) Pretax income (loss) (2,014) 613 85 Pretax, pre-provision income (loss)2 (2,016) 622 243 Income tax (benefit) (1,764) 167 153 Net income (loss) ($250) $446 ($68) 18 • Net loss of $0.3B – Improved $0.4B vs. 1Q24, driven primarily by the absence of the $0.7B 1Q24 accrual for the estimated amount of the FDIC special assessment for uninsured deposits of certain failed banks • Total corporate effective tax rate (ETR) for the quarter was approximately 9% – Excluding discrete tax items and recurring tax credits primarily related to investments in renewable energy and affordable housing, the ETR would have been approximately 25%

Additional Presentation Information

Commercial Real Estate Loans 20 21.2% 6.9% 11.7% 6.7% 4Q09 2Q24 Total Commercial loans Total loans and leases Commercial Real Estate as a Percent of: Geographic Distribution ($B) $16.0 23% $14.1 20% $11.9 17% $8.6 12% $6.7 10% $5.9 8% Northeast California Southeast Southwest Midwest Midsouth Northwest Other Non-U.S. Office Portfolio Scheduled Maturities ($B) 2024-2026 $16.3 23% $14.7 21% $11.6 16% $5.6 8% $5.1 7% $14.1 20% Office Industrial / Warehouse Multi-family rental Shopping centers / Retail Hotel / Motels Multi-use Residential Other ~$70B Distribution by Property Type ($B) $2.3 3%$2.1 3% $2.8 4% $0.8 1% $2.1 3% $4.8 $3.7 $4.1 2H24 2025 2026 • ~75% Class A property type • ~55% origination LTV • ~11% NPL to loans ▪ NPLs down $0.3B vs. 1Q24 • $5.1B reservable criticized exposure, down $0.5B vs. 1Q24 ▪ ~80% LTV1 • 2Q24 NCOs $0.2B, down $0.1B vs. 1Q24 ~$70B Note: Amounts may not total due to rounding. 1 Based on properties appraised between January 1, 2023, and June 30, 2024.

Consumer Banking ($B) GWIM ($B) Global Banking ($B) Total Corporation ($B) Average Deposit Trends Bank of America Ranked #1 in U.S. Retail Deposit Market Share1 Note: Amounts may not total due to rounding. Total Corporation also includes Global Markets and All Other. 1 Estimated U.S. retail deposits based on June 30, 2023 FDIC deposit data. 2 Includes Preferred Deposits, other non-sweep Merrill bank deposits, and Private Bank deposits. $256 $295 $292 $292 $297 $288 167 219 223 228 233 224 88 76 69 65 65 64 Bank deposits Sweep deposits 4Q19 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $100 $200 $300 $400 $1,410 $1,875 $1,876 $1,905 $1,907 $1,910 1,002 1,278 1,311 1,362 1,387 1,396 409 597 565 543 521 514 Interest-bearing Noninterest-bearing 4Q19 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $750 $1,500 $2,250 $379 $498 $504 $528 $526 $525 209 289 315 351 362 368 169 208 189 177 164 158 Interest-bearing Noninterest-bearing 4Q19 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $200 $400 $600 (4%) (1%) +1% (1%) QoQ 0% QoQ (3%) QoQ 0% +2% (4%) 0% QoQ 0% 21 $720 $1,006 $980 $959 $952 $949 377 490 482 478 480 477 343 517 498 482 473 472 Other deposits Core operating deposits 4Q19 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $250 $500 $750 $1,000 $1,250 0% +39% +26% vs. 4Q19 +35% +34% (27%) vs. 4Q19 +12% +27% +38% vs. 4Q19 +32% +76% (7%) vs. 4Q19 +39% 2

• Deposits in excess of loans grew from $0.5T in 4Q19 and peaked at $1.1T in 4Q21; remained elevated at $0.9T in 2Q24 • Excess deposits stored in cash and investment securities – 52% cash and AFS and 48% HTM in 2Q24 – Cash levels of $321B remained well above pre-pandemic ($162B in 4Q19) • AFS securities mostly hedged with floating rate swaps; duration less than 0.5 years and marked through AOCI1 and regulatory capital • HTM securities book has declined $106B since peaking at $683B in 3Q21; down $37B vs. 2Q23 and $9B vs. 1Q24 – MBS1 of $448B down $9B, and U.S. Treasuries and other securities of $129B relatively flat vs. 1Q24 • Blended cash and securities yield continued to improve in 2Q24 and is 160 bps above deposit rate paid 4Q19 4Q21 2Q24 $0.5T $2.5T 216 675 587 577256 308 323 301 162 348 313 321 4Q19 2Q24 22 3.63% 2.03% Cash & securities yield Total deposit rate paid 4Q19 2Q24 0.00% 1.00% 2.00% 3.00% 4.00% Managing Excess Deposits Deposits in Excess of Loans (EOP, $B) Cash and Securities Portfolios ($B)1 Cash & Securities Yield vs. Deposit Rate Paid 2 $451B $1,085B $854B Deposits Loans HTM securities AFS & other securities Cash & cash equivalentsDeposits in excess of loans 4Q21 4Q21 $1,199$1,223 $1,331 $634 Note: Amounts may not total due to rounding. 1 HTM stands for held-to-maturity. AFS stands for available-for-sale. AOCI stands for accumulated other comprehensive income. MBS stands for mortgage-backed securities. 2 Yields based on average balances. Yield on cash represents yield on interest-bearing deposits with the Federal Reserve, non-U.S. central banks, and other banks.

Supplemental Business Segment Trends

Total Expense ($B) and Efficiency Total Revenue ($B) Average Deposits ($B) Consumer Investment Assets ($B)2 and Accounts (MM) Average Loans and Leases ($B) Consumer Banking Trends Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 End of period. Consumer investment assets includes client brokerage assets, deposit sweep balances, Bank of America, N.A. brokered CDs, and AUM in Consumer Banking. $10.5 $10.5 $10.3 $10.2 $10.2 8.4 8.4 8.3 8.2 8.1 2.1 2.1 2.1 2.0 2.1 Net interest income Noninterest income 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $4.0 $8.0 $12.0 $5.5 $5.3 $5.2 $5.5 $5.5 52% 50% 51% 54% 54% Noninterest expense Efficiency ratio 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $2.0 $4.0 $6.0 40% 50% 60% 70% $1,006 $980 $959 $952 $949 490 482 478 480 477 517 498 482 473 472 Other deposits Core operating deposits 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $300 $600 $900 $1,200 $307 $311 $313 $313 $312 117 117 116 116 115 91 95 97 96 96 55 55 55 56 56 21 21 21 21 21 22 23 23 24 24 Residential mortgage Consumer credit card Vehicle lending Home equity Small business / other 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $70 $140 $210 $280 $350 24 $387 $387 $424 $456 $476 3.7 3.8 3.8 3.9 3.9 Assets Accounts 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $100 $200 $300 $400 $500 2.5 3.0 3.5 4.0 4.5 5.0 Business Leadership1 • No. 1 in estimated U.S. Retail Deposits(A) • No. 1 Small Business Lender(B) • Best Bank in North America(C) • Best Bank in the U.S.(C) • Best Consumer Digital Bank in the U.S. - Best Integrated Consumer Banking Site & Best Mobile Banking App(D) • Best Bank in the U.S. for Small and Medium Enterprises(E) • Certified by J.D. Power for Outstanding Client Satisfaction with Customer Financial Health Support – Banking & Payments(F)

1,137 1,062 889 998 951 2Q23 3Q23 4Q23 1Q24 2Q24 0 500 1,000 1,500 Home Equity1 New Originations ($B)5 Consumer Credit Update 1 Includes loan production within Consumer Banking and GWIM. Consumer credit card balances include average balances of $3.4B, $3.3B, and $3.2B in 2Q24, 1Q24, and 2Q23, respectively, within GWIM. 2 Calculated as the difference between total revenue, net of interest expense, and net credit losses divided by average loans. 3 Digitally-enabled sales represent percentage of sales initiated and / or booked via our digital platforms. 4 Represents Consumer Banking only. 5 Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. Consumer Vehicle Lending4 New Originations ($B) Consumer Credit Card1 New Accounts (K) 25 Residential Mortgage1 New Originations ($B)5 Key Stats 2Q23 1Q24 2Q24 Average outstandings ($B) 94.4 99.8 99.0 NCO ratio 2.60% 3.62% 3.88% Risk-adjusted margin2 7.83% 6.81% 6.75% Average line FICO 773 777 777 Digitally-enabled sales3 70% 71% 72% $6.8 $6.8 $6.1 $6.6 $6.0 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $2.5 $5.0 $7.5 Key Stats 2Q23 1Q24 2Q24 Average outstandings ($B) 54.7 55.9 55.7 NCO ratio 0.18% 0.51% 0.40% Average booked FICO 795 801 802 Digitally-enabled sales3 84% 89% 89% $5.9 $5.6 $3.9 $3.4 $5.7 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $2.5 $5.0 $7.5 Key Stats 2Q23 1Q24 2Q24 Average outstandings ($B)4 117.1 115.5 115.2 NCO ratio4 0.02% 0.01% 0.01% Average FICO 771 772 775 Average booked loan-to-value (LTV) 73% 73% 72% Digitally-enabled sales3 81% 77% 79% $2.5 $2.4 $2.3 $1.9 $2.4 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $1.0 $2.0 $3.0 Key Stats 2Q23 1Q24 2Q24 Average outstandings ($B)4 21.2 21.3 21.4 NCO ratio4 (0.05%) (0.04%) (0.06%) Average FICO 790 791 793 Average booked combined LTV 58% 55% 55% Digitally-enabled sales3 62% 53% 53%

Erica® Active Users and Interactions (MM)7 Checks vs. Zelle® Sent Transactions (MM) Digital Sales6Digital Users2 and Households3 Digital Channel Usage4,5 1,368 1,640 1,770 1,659 44% 48% 51% 53% Digital unit sales (K) Digital as a % of total sales 2Q21 2Q22 2Q23 2Q24 0 500 1,000 1,500 2,000 0% 25% 50% 75% 100% 2,567 2,845 3,148 3,466 871 911 871 796 Digital channel usage (MM) Digital appointments (K) 2Q21 2Q22 2Q23 2Q24 1,500 2,000 2,500 3,000 3,500 500 750 1,000 1,250 41 43 46 47 53 55 57 58 70% 72% 74% 77% Active users (MM) Verified users (MM) Household adoption % 2Q21 2Q22 2Q23 2Q24 20 30 40 50 60 50% 60% 70% 80% 90% 100% Client Engagement Person-to-Person Payments (Zelle®)8 Digital Volumes 189 239 303 382 $57 $73 $91 $115 Transactions (MM) Volume ($B) 2Q21 2Q22 2Q23 2Q24 0 100 200 300 400 $0 $50 $100 $150 Consumer1 Digital Update 1 Includes all households / relationships with Consumer platform activity, except where otherwise noted. 2 Digital active users represents Consumer and Merrill mobile and / or online 90-day active users; verified users represent Consumer and Merrill users with a digital identification and password. 3 Household adoption represents households with consumer bank login activities in a 90-day period, as of May for each quarter presented. 4 Digital channel usage represents the total number of desktop and mobile banking sessions on the Consumer Banking platform. 5 Digital appointments represent the number of client-scheduled appointments made via online, smartphone, or tablet. 6 Digital sales represent sales initiated and / or booked via our digital platforms. 7 Erica engagement represents mobile and online activity across client facing platforms powered by Erica. 8 Includes Bank of America person-to-person payments sent and received through e-mail or mobile identification. Zelle® users represent 90-day active users. 14.3 17.0 20.3 22.6 users (MM) 26 Digital Adoption 12.4 14.4 18.2 19.6 94.2 123.1 166.5 167.0 Erica® users Erica® interactions 2Q21 2Q22 2Q23 2Q24 0.0 5.0 10.0 15.0 20.0 0.0 50.0 100.0 150.0 200.0 133 123 111 100 125 156 197 244 Checks written Zelle® sent transactions 2Q21 2Q22 2Q23 2Q24 50 100 150 200 250 ~2.4x

Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 End of period. Loans and leases includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet. 3 Managed deposits in investment accounts of $36B, $36B, $39B, $36B, and $39B for 2Q24, 1Q24, 4Q23, 3Q23, and 2Q23, respectively, are included in both AUM and Deposits. Total client balances only include these balances once. Average Deposits ($B) Global Wealth & Investment Management Trends Business Leadership1 • No. 1 on Forbes’ Best-in-State Wealth Advisors (2023), Top Women Wealth Advisors (2024), and Top Next Generation Advisors (2023) • No. 1 on Barron’s Top 1200 Wealth Financial Advisors List (2024) • No. 1 on Financial Planning's 'Top 40 Advisors Under 40' List (2024) • No. 1 in personal trust AUM(B) • Best Private Bank (U.S.); Best Private Bank for Philanthropic Services and Sustainable Investing (North America)(G) • Best Private Bank in the Nation; Best Private Bank for Family Office and OCIO(H) • Best Private Bank (U.S.); Best Private Bank for Digital Innovation, Best Family Office Offering, and Excellence in Philanthropy Services(I) Average Loans and Leases ($B) Total Revenue ($B) Client Balances ($B)2,3 $5.2 $5.3 $5.2 $5.6 $5.6 1.8 1.8 1.7 1.8 1.7 2.9 3.1 3.0 3.2 3.3 0.5 0.5 0.6 0.6 0.6 Net interest income Asset management fees Brokerage / other 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $2.0 $4.0 $6.0 1,531 1,497 1,618 1,730 1,759 1,628 1,578 1,689 1,759 1,780 293 291 300 298 281222 222 222 223 228$3,635 $3,551 $3,789 $3,973 $4,012 AUM Brokerage / other Deposits Loans and leases 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $750 $1,500 $2,250 $3,000 $3,750 $4,500 $219 $219 $219 $219 $223 106 107 108 108 108 51 50 49 48 49 58 59 60 59 62 Consumer real estate Securities-based lending Custom lending Credit card 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $50 $100 $150 $200 $250 $295 $292 $292 $297 $288 2Q23 3Q23 4Q23 1Q24 2Q24 $100 $150 $200 $250 $300 $350 27

Erica® Interactions (MM)5 1.4 1.9 2.7 3.0 2Q21 2Q22 2Q23 2Q24 0.0 1.0 2.0 3.0 Person-to-Person Payments (Zelle®)6 Check Deposits7 eDelivery4Digital Households / Relationships2 Digital Channel Adoption3 73% 75% 78% 80% 2Q21 2Q22 2Q23 2Q24 0% 25% 50% 75% 100% 53% 56% 59% 62% 75% 76% 76% 78% Mobile adoption Online adoption 2Q21 2Q22 2Q23 2Q24 0% 25% 50% 75% 100% 681 690 718 742 80% 82% 83% 85% Digital households / relationships (K) Digital adoption % 2Q21 2Q22 2Q23 2Q24 550 600 650 700 750 60% 70% 80% 90% 100% Client Engagement Digital Volumes Global Wealth & Investment Management Digital Update 1 Digital Adoption is the percentage of digitally active Merrill primary households ($250K+ in investable assets within the enterprise) and digitally active Private Bank core relationships ($3MM+ in total balances). Merrill excludes Stock Plan and Banking-only households. Private Bank includes third-party activities (effective 1Q23) and excludes Irrevocable Trust-only relationships, Institutional Philanthropic relationships, and exiting relationships. 2 Data as of May for 2Q21 and 2Q22. 2Q23 and 2Q24 as of May for Private Bank and as of June for Merrill. 3 Digital channel adoption represents the percentage of desktop and mobile banking engagement, as of May for 2Q21 and 2Q22. 2Q23 and 2Q24 as of May for Private Bank and as of June for Merrill. 4 GWIM eDelivery percentage includes Merrill Digital Households (excluding Stock Plan, Banking-only households, Retirement only, and 529 only) and Private Bank relationships that receive statements digitally, as of May for each quarter presented. 5 Erica interactions represent mobile and online activity across client-facing platforms powered by Erica. 6 Includes Bank of America person-to-person payments sent and received through e-mail or mobile identification. 7 Automated check deposits include mobile check deposits, remote deposit operations, and automated teller machine (ATM) transactions. Digital check deposits excludes ATM. 2Q21 digital check deposits excludes Private Bank. As of May for Private Bank and as of June for Merrill for each quarter presented. 28 Digital Adoption1 1.4 1.3 1.3 1.2 73% 75% 74% 75% 62% 65% 66% 67% Physical (MM) Automated Digital 2Q21 2Q22 2Q23 2Q24 0.0 0.5 1.0 1.5 50% 60% 70% 80% 90% 1.3 2.3 3.0 3.9 $0.7 $1.4 $1.8 $2.4 Transactions (MM) Volume ($B) 2Q21 2Q22 2Q23 2Q24 0.0 1.0 2.0 3.0 4.0 $0.0 $1.0 $2.0 $3.0

Global Banking Trends Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Global Banking and Global Markets share in certain deal economics from investment banking, loan origination activities, and sales and trading activities. 3 Total Corporation IB fees excludes self-led deals. Self-led deals of $50MM, $53MM, $32MM, $62MM, and $50MM for 2Q24, 1Q24, 4Q23, 3Q23, and 2Q23, respectively are embedded within Debt, Equity, and Advisory. 4 Advisory includes fees on debt and equity advisory and mergers and acquisitions. Average Deposits ($B)Business Leadership1 • World’s Most Innovative Bank – 2024(G) • World’s Best Digital Bank, World’s Best Bank for Financing, North America’s Best Bank for Small to Medium-sized Enterprises, and North America's Best Bank for Sustainable Finance(J) • 2023 Best Bank for Cash & Liquidity Management, Best Bank for Trade & Supply Chain – North America, and Best Mobile Technology Solution for Treasury – CashPro App(K) • Best Global Bank for Transaction Banking (overall award), Best Global Bank for Collections(G) • Model Bank Award for Reimagining Trade & Supply Chain Finance – 2024 for CashPro Supply Chain Solutions(L) • 2023 Share & Excellence Awards for U.S. Large Corporate Banking & Cash Management(M) • Relationships with 74% of the Global Fortune 500; 95% of the U.S. Fortune 1,000 (2023) Average Loans and Leases ($B) Total Revenue ($B)2 Total Corporation IB Fees ($MM)3 $6.5 $6.2 $5.9 $6.0 $6.1 3.7 3.6 3.4 3.5 3.3 0.7 0.7 0.7 0.8 0.8 0.7 0.8 0.7 0.8 0.8 1.3 1.1 1.1 0.9 1.2 Net interest income IB fees Service charges All other income 2Q23 3Q23 4Q23 1Q24 2Q24 $0.0 $2.5 $5.0 $7.5 600 570 589 885 880 287 232 199 363 357375 448 389 373 374$1,212 $1,188 $1,145 $1,568 $1,561 Debt Equity Advisory 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $600 $1,200 $1,800 196 195 195 196 198 174 169 167 165 162 $383 $376 $375 $374 $373 Commercial Corporate Business Banking 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $100 $200 $300 $400 4 $498 $504 $528 $526 $525 Noninterest-bearing Interest-bearing 2Q23 3Q23 4Q23 1Q24 2Q24 $0 $200 $400 $600 29 42% 37% 33% 31% 30% 58% 63% 67% 69% 70%

1 Digital adoption is the percentage of clients digitally active. Digital active clients represents 90-day active clients across CashPro and BA360 platforms. Data as of May for each quarter presented. Relationship clients defined as clients meeting revenue threshold for Global Commercial Banking and Business Banking, and all clients in Global Corporate and Investment Banking. 2 Includes CashPro, BA360, and Global Card Access. 3 Erica technology integrated into CashPro Chat starting in August 2023. 4 Includes CashPro alert volume and CashPro online reports and statements scheduled, BA360 90-day Erica Insights and alerts, and Global Card Access alert volume for online and mobile. 5 Percent of U.S. Dollar Investment Grade Debt Global Capital Markets investor bond orders received and fully processed digitally. Capital Markets Digital Bond Orders (%)5 Erica® Interactions on CashPro® Chat (K)3 Proactive Alerts and Insights (MM)2,4 8% 15% 29% 2Q22 2Q23 2Q24 0% 10% 20% 30% 40% 17.1 18.8 20.1 22.4 2Q21 2Q22 2Q23 2Q24 0.0 6.0 12.0 18.0 24.0 21.9 30.6 30.0 29.7 3Q23 4Q23 1Q24 2Q24 0.0 10.0 20.0 30.0 40.0 CashPro® App PaymentsBusiness Adoption % Mobile App Sign-ins (K)2 $84 $167 $191 $253 1.6 2.8 3.5 4.0 Value ($B) Volume (MM) 2Q21 2Q22 2Q23 2Q24 $0 $100 $200 $300 0.0 2.0 4.0 6.0 8.0 727 1,076 1,594 1,870 2Q21 2Q22 2Q23 2Q24 0 500 1,000 1,500 2,000 75% 76% 75% 76% 2Q21 2Q22 2Q23 2Q24 0% 25% 50% 75% 100% Client Engagement Digital Volumes Global Banking Digital Update 30 Digital Adoption1 87%Relationship clients:

Global Markets Trends and Revenue Mix Note: Amounts may not total due to rounding. 1 See slide 34 for business leadership sources. 2 Represents a non-GAAP financial measure. Reported Global Markets revenue was $11.3B for 2024 YTD. Global Markets revenue ex. net DVA was $11.4B for 2024 YTD. Reported sales and trading revenue was $9.8B, $9.4B, $8.9B, and $8.6B for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. Reported FICC sales and trading revenue was $6.0B, $6.1B, $5.2B, and $5.2B for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. Reported Equities sales and trading revenue was $3.8B, $3.2B, $3.7B, and $3.5B for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. See note F on slide 33 and slide 36 for important presentation information. 3 Macro includes currencies, interest rates, and commodities products. 4 See note G on slide 33 for definition of VaR. 2024 YTD Global Markets Revenue Mix (excl. net DVA)2 Business Leadership1 • Securitization Bank of the Year(N) • CLO Trading Desk of the Year(N) • Derivatives House of the Year(O) • Base Metals House of the Year(O) • Currency Derivatives House of the Year(P) • U.S. Muni Bond - Lead Manager of the Year for social bonds, green bonds, and sustainability bonds(Q) • No. 1 Foreign Exchange Options Market Dealer(R) • Best CLO Tranche Trading Desk(S) • Best Research House(S) 2024 YTD Total FICC S&T Revenue Mix (excl. net DVA)2 Total Sales and Trading Revenue (excl. net DVA) ($B)2 Average Trading-Related Assets ($B) and VaR ($MM)4 $8.7 $8.6 $9.4 $9.9 5.2 5.0 6.2 6.0 3.5 3.7 3.2 3.8 FICC Equities 2021 YTD 2022 YTD 2023 YTD 2024 YTD $0.0 $5.0 $10.0 $534 $601 $624 $635 $76 $99 $93 $85 Avg. trading-related assets Avg. VaR 2021 YTD 2022 YTD 2023 YTD 2024 YTD $0 $250 $500 $750 $0 $50 $100 $150 63% 37% U.S. / Canada International 48% 52% Credit / Other Macro 31 3

Note: Amounts may not total due to rounding. 1 Represents a non-GAAP financial measure. For more information and a reconciliation to the most directly comparable GAAP financial measure, see note C on slide 33. For important presentation information about this measure, see slide 36. 2 Calculated as net income applicable to common shareholders divided by average diluted common shares. Average diluted common shares were 8,031MM for 1Q24. 3 Calculated as net income divided by average assets. Average assets were $3,247B for 1Q24. 4 Calculated as net income applicable to common shareholders divided by average common shareholders’ equity. Average common shareholders’ equity was $264B for 1Q24. 5 Calculated as net income applicable to common shareholders divided by average tangible common shareholders’ equity. Average tangible common shareholders’ equity was $194B for 1Q24. Average tangible common shareholders’ equity represents a non-GAAP financial measure. For important presentation information on non-GAAP measures, see slide 36. 6 Calculated as noninterest expense divided by revenue, net of interest expense. A In 1Q24, the FDIC increased its estimate of the loss to the Deposit Insurance Fund arising from the closures of Silicon Valley Bank and Signature Bank that will be recouped through the collection of a special assessment from certain insured depository institutions. Accordingly, the Corporation recorded pretax noninterest expense of $0.7B to increase its accrual for its estimated share of the special assessment. The Corporation has presented certain non-GAAP financial measures (labeled as “adj.” in the tables below) that exclude the impact of the FDIC special assessment (FDIC SA) and has provided a reconciliation of these non-GAAP financial measures to the most directly comparable GAAP financial measures as set forth below. The Corporation believes the use of non-GAAP financial measures adjusting for the impact of the FDIC SA provides additional information for evaluating its results of operations and comparing its operational performance between periods by excluding these impacts that may not be reflective of its underlying operating performance. B Reserve build (release) is calculated by subtracting net charge-offs for the period from the provision for credit losses recognized in that period. The period-end allowance, or reserve, for credit losses reflects the beginning of the period allowance adjusted for net charge-offs recorded in that period plus the provision for credit losses and other valuation accounts recognized in that period. Notes 32 Reconciliation of return metrics and efficiency ratio ($ in billions) 1Q24 Reported FDIC SA 1Q24 adj. FDIC SA Return on average assets3 0.83 % (6) bps 0.89 % Return on average common shareholders’ equity4 9.4 % (81) bps 10.2 % Return on average tangible common shareholders’ equity5 12.7 % (110) bps 13.8 % Efficiency ratio6 67 % 271 bps 64 % Reconciliation 1Q24 Reported FDIC SA 1Q24 adj. FDIC SA ($ in billions, except per share data) Noninterest expense $17.2 $0.7 $16.5 Income before income taxes 7.3 (0.7) 8.0 Pretax, pre-provision income1 8.6 (0.7) 9.3 Income tax expense (benefit) 0.6 (0.2) 0.8 Net income 6.7 (0.5) 7.2 Net income applicable to common shareholders 6.1 (0.5) 6.6 Diluted earnings per share2 $0.76 ($0.07) $0.83

C Pretax, pre-provision income (PTPI) at the consolidated level is a non-GAAP financial measure calculated by adjusting consolidated pretax income to add back provision for credit losses. Similarly, PTPI at the segment level is a non-GAAP financial measure calculated by adjusting the segments’ pretax income to add back provision for credit losses. Management believes that PTPI (both at the consolidated and segment level) is a useful financial measure as it enables an assessment of the Corporation’s ability to generate earnings to cover credit losses through a credit cycle as well as provides an additional basis for comparing the Corporation's results of operations between periods by isolating the impact of provision for credit losses, which can vary significantly between periods. See reconciliation below. D Global Liquidity Sources (GLS) include cash and high-quality, liquid, unencumbered securities, inclusive of U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and other investment-grade securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity among legal entities may be subject to certain regulatory and other restrictions. E Forward-looking statements related to the Corporation’s NII outlook are based on the Corporation’s baseline NII forecast that takes into account expected future business growth, ALM positioning, and the future direction of interest rate movements as implied by market-based curves, including, among others, the Corporation’s current expectations regarding expected interest rate cuts, the expected impact of an extra day compared to 2Q, the expected benefit to NII from fixed-rate asset repricing and changes in certain cash flow hedges, and a range of expected loan and deposit growth. These statements are not guarantees of future results or performance and involve known and unknown risks, uncertainties, and assumptions that are difficult to predict and are often beyond the Corporation’s control. For more information, see Forward Looking Statements on slide 35. F Revenue for all periods included net debit valuation adjustments (DVA) on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Net DVA gains (losses) were ($1MM), ($85MM), and ($102MM) for 2Q24, 1Q24, and 2Q23, respectively, and ($86MM), ($88MM), $227MM, and ($36MM) for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. Net DVA gains (losses) included in FICC revenue were $5MM, ($76MM), and ($97MM) for 2Q24, 1Q24, and 2Q23, respectively, and ($71MM), ($86MM), $220MM, and ($37MM) for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. Net DVA gains (losses) included in Equities revenue were ($6MM), ($9MM), and ($5MM) for 2Q24, 1Q24, and 2Q23, respectively, and ($15MM), ($2MM), $7MM, and $1MM for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. G VaR model uses a historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Using a 95% confidence level, average VaR was $45MM, $43MM, and $43MM for 2Q24, 1Q24, and 2Q23 respectively, and $44MM, $43MM, $33MM, and $29MM for 2024 YTD, 2023 YTD, 2022 YTD, and 2021 YTD, respectively. Notes $ Millions 2Q24 1Q24 2Q23 Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Pretax Income (GAAP) Provision for Credit Losses (GAAP) Pretax, Pre-provision Income Consumer Banking $ 3,461 $ 1,281 $ 4,742 $ 3,541 $ 1,150 $ 4,691 $ 3,804 $ 1,267 $ 5,071 Global Wealth & Investment Management 1,368 7 1,375 1,340 (13) 1,327 1,304 13 1,317 Global Banking 2,919 235 3,154 2,739 229 2,968 3,634 9 3,643 Global Markets 1,986 (13) 1,973 2,427 (36) 2,391 1,526 (4) 1,522 All Other (2,014) (2) (2,016) (2,627) (11) (2,638) (2,099) (160) (2,259) Total Corporation $ 7,560 $ 1,508 $ 9,068 $ 7,262 $ 1,319 $ 8,581 $ 8,034 $ 1,125 $ 9,159 33

Business Leadership Sources (A) Estimated U.S. retail deposits based on June 30, 2023 FDIC deposit data. (B) FDIC, 1Q24. (C) Global Finance, April 2024. (D) Global Finance, August 2023. (E) Global Finance, October 2023. (F) J.D. Power 2024 Financial Health Support CertificationSM is based on exceeding customer experience benchmarks using client surveys and a best practices verification. For more information, visit jdpower.com/awards.* (G) Global Finance, 2024. (H) Family Wealth Report, 2024. (I) Global Private Banker, 2024. (J) Euromoney, 2023. (K) Treasury Management International, 2024. (L) Celent, 2024. (M) Coalition Greenwich, 2023. (N) Global Capital, 2024. (O) Energy Risk, 2024. (P) Risk Awards, 2024. (Q) Environmental Finance, 2024. (R) FX Markets, 2024. (S) DealCatalyst, 2024. 34 * Website content is not incorporated by reference into this presentation.

Forward-Looking Statements Bank of America Corporation (the Corporation) and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent the Corporation’s current expectations, plans or forecasts of its future results, revenues, liquidity, net interest income, provision for credit losses, expenses, efficiency ratio, capital measures, strategy, deposits, assets, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Corporation’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Corporation’s 2023 Annual Report on Form 10-K and in any of the Corporation’s subsequent Securities and Exchange Commission filings: the Corporation’s potential judgments, orders, settlements, penalties, fines and reputational damage resulting from pending or future litigation and regulatory investigations, proceedings and enforcement actions, including as a result of our participation in and execution of government programs related to the Coronavirus Disease 2019 (COVID-19) pandemic, such as the processing of unemployment benefits for California and certain other states; the possibility that the Corporation's future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, and regulatory and government actions; the possibility that the Corporation could face increased claims from one or more parties involved in mortgage securitizations; the Corporation’s ability to resolve representations and warranties repurchase and related claims; the risks related to the discontinuation of reference rates, including increased expenses and litigation and the effectiveness of hedging strategies; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Corporation’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, inflation, currency exchange rates, economic conditions, trade policies and tensions, including tariffs, and potential geopolitical instability; the impact of the interest rate, inflationary, macroeconomic, banking and regulatory environment on the Corporation’s assets, business, financial condition and results of operations; the impact of adverse developments affecting the U.S. or global banking industry, including bank failures and liquidity concerns, resulting in worsening economic and market volatility, and regulatory responses thereto; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties, including the impact of supply chain disruptions, inflationary pressures and labor shortages on economic conditions and our business; potential losses related to the Corporation’s concentration of credit risk; the Corporation's ability to achieve its expense targets and expectations regarding revenue, net interest income, provision for credit losses, net charge-offs, effective tax rate, loan growth or other projections; adverse changes to the Corporation’s credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Corporation’s assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and / or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Corporation’s capital plans; the effect of changes in or interpretations of income tax laws and regulations; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including, but not limited to, recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, the Volcker Rule, fiduciary standards, derivatives regulations and potential changes to loss allocations between financial institutions and customers, including for losses incurred from the use of our products and services, including electronic payments and payment of checks, that were authorized by the customer but induced by fraud; the impact of failures or disruptions in or breaches of the Corporation’s operations or information systems, or those of third parties, including as a result of cybersecurity incidents; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and machine learning; the risks related to the transition and physical impacts of climate change; our ability to achieve environmental, social and governance goals and commitments or the impact of any changes in the Corporation's sustainability strategy or commitments generally; the impact of uncertain political conditions or any future federal government shutdown and uncertainty regarding the federal government’s debt limit or changes in fiscal, monetary or regulatory policy; the emergence or continuation of widespread health emergencies or pandemics; the impact of natural disasters, extreme weather events, military conflicts (including the Russia / Ukraine conflict, the conflict in the Middle East, the possible expansion of such conflicts and potential geopolitical consequences), terrorism or other geopolitical events; and other matters. Forward-looking statements speak only as of the date they are made, and the Corporation undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. 35

Important Presentation Information 36 • The information contained herein is preliminary and based on Corporation data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying slides. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. • The Corporation may present certain metrics and ratios, including year-over-year comparisons of revenue, noninterest expense, and pretax income, excluding certain items (e.g., DVA), that are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. For more information about the non-GAAP financial measures contained herein, please see the presentation of the most directly comparable financial measures calculated in accordance with GAAP and accompanying reconciliations in the earnings press release for the quarter ended June 30, 2024, and other earnings-related information available through the Bank of America Investor Relations website at: https://investor.bankofamerica.com/quarterly-earnings, the content of which is not incorporated by reference into this presentation. • The Corporation presents certain key financial and nonfinancial performance indicators (KPIs) that management uses when assessing consolidated and / or segment results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. KPIs are presented in 2Q24 Financial Results on slide 2 and on the Summary Income Statement for each segment. • The Corporation also views net interest income and related ratios and analyses on a fully taxable-equivalent (FTE) basis, which when presented on a consolidated basis are non-GAAP financial measures. The Corporation believes managing the business with net interest income on an FTE basis provides investors with meaningful information on the interest margin for comparative purposes. The Corporation believes that the presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The FTE adjustment was $160MM, $158MM, $145MM, $153MM, and $135MM for 2Q24, 1Q24, 4Q23, 3Q23, and 2Q23, respectively. • The Corporation allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans. As a result of this process, in the first quarter of 2024, the Corporation adjusted the amount of capital being allocated to its business segments.

Supplemental Information

Second Quarter 2024

Current-period information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America Corporation (the Corporation) does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in the Corporation’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov*) or at the Corporation’s website (www.bankofamerica.com*). The Corporation’s future financial performance is subject to risks and uncertainties as described in its SEC filings.

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


Bank of America Corporation and Subsidiaries
Table of Contents			Page


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

Debt Securities			9
Supplemental Financial Data			10
Quarterly Results by Business Segment and All Other			11
Year-to-Date Results by Business Segment and All Other			13
Consumer Banking
Total Segment Results			14
Key Indicators			15
Business Results			16
Global Wealth & Investment Management
Total Segment Results			18
Key Indicators			19
Global Banking
Total Segment Results			20
Key Indicators			21

Global Markets
Total Segment Results			22
Key Indicators			23
All Other
Total Results			24
Outstanding Loans and Leases			25
Quarterly Average Loans and Leases by Business Segment and All Other			26
Commercial Credit Exposure by Industry			27

Nonperforming Loans, Leases and Foreclosed Properties			28
Nonperforming Loans, Leases and Foreclosed Properties Activity			29
Quarterly Net Charge-offs and Net Charge-off Ratios			30
Year-to-Date Net Charge-offs and Net Charge-off Ratios			31
Allocation of the Allowance for Credit Losses by Product Type			32

Exhibit A: Non-GAAP Reconciliations			33







Key Performance Indicators

The Corporation presents certain key financial and nonfinancial performance indicators that management uses when assessing consolidated and/or segment results. The Corporation believes this information is useful because it provides management with information about underlying operational performance and trends. Key performance indicators are presented in Consolidated Financial Highlights on page 2 and on the Key Indicators pages for each segment.

Business Segment Operations

The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 11 - 13 are reported on an FTE basis.


Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Income statement
Net interest income	$	27,734		$	28,606		$	13,702		$	14,032		$	13,946		$	14,379		$	14,158
Noninterest income	23,461			22,849			11,675			11,786			8,013			10,788			11,039
Total revenue, net of interest expense	51,195			51,455			25,377			25,818			21,959			25,167			25,197
Provision for credit losses	2,827			2,056			1,508			1,319			1,104			1,234			1,125
Noninterest expense	33,546			32,276			16,309			17,237			17,731			15,838			16,038
Income before income taxes	14,822			17,123			7,560			7,262			3,124			8,095			8,034
Pretax, pre-provision income (1)	17,649			19,179			9,068			8,581			4,228			9,329			9,159
Income tax expense (benefit)	1,251			1,554			663			588			(20)			293			626
Net income	13,571			15,569			6,897			6,674			3,144			7,802			7,408
Preferred stock dividends	847			811			315			532			306			532			306
Net income applicable to common shareholders	12,724			14,758			6,582			6,142			2,838			7,270			7,102
Diluted earnings per common share	1.59			1.82			0.83			0.76			0.35			0.90			0.88
Average diluted common shares issued and outstanding	7,996.2			8,162.6			7,960.9			8,031.4			8,062.5			8,075.9			8,080.7
Dividends paid per common share	$	0.48		$	0.44		$	0.24		$	0.24		$	0.24		$	0.24		$	0.22

Performance ratios
Return on average assets	0.84		%	1.00		%	0.85		%	0.83		%	0.39		%	0.99		%	0.94		%
Return on average common shareholders’ equity	9.67			11.84			9.98			9.35			4.33			11.24			11.21
Return on average shareholders’ equity	9.32			11.22			9.45			9.18			4.32			10.86			10.52
Return on average tangible common shareholders’ equity (2)	13.15			16.42			13.57			12.73			5.92			15.47			15.49
Return on average tangible shareholders’ equity (2)	12.25			14.97			12.42			12.07			5.71			14.41			14.00
Efficiency ratio	65.53			62.73			64.26			66.77			80.75			62.93			63.65


At period end
Book value per share of common stock	$	34.39		$	32.05		$	34.39		$	33.71		$	33.34		$	32.65		$	32.05
Tangible book value per share of common stock (2)	25.37			23.23			25.37			24.79			24.46			23.79			23.23
Market capitalization	309,202			228,188			309,202			298,312			265,840			216,942			228,188
Number of financial centers - U.S.	3,786			3,887			3,786			3,804			3,845			3,862			3,887
Number of branded ATMs - U.S.	14,972			15,335			14,972			15,028			15,168			15,253			15,335
Headcount	212,318			215,546			212,318			212,335			212,985			212,752			215,546

(1) Pretax, pre-provision income (PTPI) is a non-GAAP financial measure calculated by adjusting pretax income to add back provision for credit losses. Management believes that PTPI is a useful financial measure because it enables an assessment of the Corporation's ability to generate earnings to cover credit losses through a credit cycle. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 33.)

(2) Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. Tangible book value per share provides additional useful information about the level of tangible assets in relation to outstanding shares of common stock. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on page 33.)


Current-period information is preliminary and based on company data available at the time of the presentation.			2


Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(In millions, except per share information)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Net interest income
Interest income	$	73,139	$	61,009	$	36,854	$	36,285	$	35,629	$	33,624	$	32,354
Interest expense	45,405		32,403		23,152		22,253		21,683		19,245		18,196
Net interest income	27,734		28,606		13,702		14,032		13,946		14,379		14,158

Noninterest income
Fees and commissions	17,629		15,855		8,969		8,660		8,019		8,135		7,961
Market making and similar activities	7,186		8,409		3,298		3,888		998		3,325		3,697
Other income (loss)	(1,354)		(1,415)		(592)		(762)		(1,004)		(672)		(619)
Total noninterest income	23,461		22,849		11,675		11,786		8,013		10,788		11,039
Total revenue, net of interest expense	51,195		51,455		25,377		25,818		21,959		25,167		25,197

Provision for credit losses	2,827		2,056		1,508		1,319		1,104		1,234		1,125

Noninterest expense
Compensation and benefits	20,021		19,319		9,826		10,195		9,460		9,551		9,401
Occupancy and equipment	3,629		3,575		1,818		1,811		1,794		1,795		1,776
Information processing and communications	3,563		3,341		1,763		1,800		1,690		1,676		1,644
Product delivery and transaction related	1,742		1,846		891		851		882		880		956

Professional fees	1,202		1,064		654		548		550		545		527
Marketing	942		971		487		455		455		501		513
Other general operating	2,447		2,160		870		1,577		2,900		890		1,221
Total noninterest expense	33,546		32,276		16,309		17,237		17,731		15,838		16,038
Income before income taxes	14,822		17,123		7,560		7,262		3,124		8,095		8,034
Income tax expense (benefit)	1,251		1,554		663		588		(20)		293		626
Net income	$	13,571	$	15,569	$	6,897	$	6,674	$	3,144	$	7,802	$	7,408
Preferred stock dividends	847		811		315		532		306		532		306

Net income applicable to common shareholders	$	12,724	$	14,758	$	6,582	$	6,142	$	2,838	$	7,270	$	7,102

Per common share information
Earnings	$	1.60	$	1.83	$	0.83	$	0.77	$	0.36	$	0.91	$	0.88
Diluted earnings	1.59		1.82		0.83		0.76		0.35		0.90		0.88
Average common shares issued and outstanding	7,933.3		8,053.5		7,897.9		7,968.2		7,990.9		8,017.1		8,040.9
Average diluted common shares issued and outstanding	7,996.2		8,162.6		7,960.9		8,031.4		8,062.5		8,075.9		8,080.7


Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Net income	$	13,571	$	15,569	$	6,897	$	6,674	$	3,144	$	7,802	$	7,408
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	27		723		(305)		332		492		(642)		168
Net change in debit valuation adjustments	(135)		(394)		53		(188)		(267)		(25)		(404)
Net change in derivatives	270		49		686		(416)		4,236		(366)		(1,993)
Employee benefit plan adjustments	48		19		25		23		(464)		6		9
Net change in foreign currency translation adjustments	(51)		17		(31)		(20)		7		(23)		5
Other comprehensive income (loss)	159		414		428		(269)		4,004		(1,050)		(2,215)
Comprehensive income (loss)	$	13,730	$	15,983	$	7,325	$	6,405	$	7,148	$	6,752	$	5,193


Current-period information is preliminary and based on company data available at the time of the presentation.			3


Bank of America Corporation and Subsidiaries
Net Interest Income and Noninterest Income
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Net interest income
Interest income
Loans and leases	$	30,578	$	27,067	$	15,338	$	15,240	$	15,227	$	14,830	$	13,970
Debt securities	12,462		10,151		6,325		6,137		5,417		4,658		4,691
Federal funds sold and securities borrowed or purchased under agreements to resell	10,334		8,667		5,159		5,175		5,124		4,888		4,955
Trading account assets	4,971		4,104		2,516		2,455		2,452		2,217		2,076
Other interest income	14,794		11,020		7,516		7,278		7,409		7,031		6,662
Total interest income	73,139		61,009		36,854		36,285		35,629		33,624		32,354

Interest expense
Deposits	18,793		10,099		9,655		9,138		8,724		7,340		5,785
Short-term borrowings	17,605		14,535		9,070		8,535		8,389		7,629		8,355
Trading account liabilities	1,086		976		540		546		557		510		472
Long-term debt	7,921		6,793		3,887		4,034		4,013		3,766		3,584
Total interest expense	45,405		32,403		23,152		22,253		21,683		19,245		18,196
Net interest income	$	27,734	$	28,606	$	13,702	$	14,032	$	13,946	$	14,379	$	14,158

Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	1,954	$	1,979	$	1,023	$	931	$	1,010	$	994	$	1,023
Other card income	1,090		1,036		558		532		509		526		523
Total card income	3,044		3,015		1,581		1,463		1,519		1,520		1,546
Service charges
Deposit-related fees	2,294		2,142		1,172		1,122		1,116		1,124		1,045
Lending-related fees	655		632		335		320		330		340		319
Total service charges	2,949		2,774		1,507		1,442		1,446		1,464		1,364
Investment and brokerage services
Asset management fees	6,640		5,887		3,370		3,270		3,012		3,103		2,969
Brokerage fees	1,867		1,804		950		917		897		860		870
Total investment and brokerage services	8,507		7,691		4,320		4,187		3,909		3,963		3,839
Investment banking fees
Underwriting income	1,770		1,226		869		901		478		531		657
Syndication fees	612		411		318		294		278		209		180
Financial advisory services	747		738		374		373		389		448		375
Total investment banking fees	3,129		2,375		1,561		1,568		1,145		1,188		1,212
Total fees and commissions	17,629		15,855		8,969		8,660		8,019		8,135		7,961
Market making and similar activities	7,186		8,409		3,298		3,888		998		3,325		3,697
Other income (loss)	(1,354)		(1,415)		(592)		(762)		(1,004)		(672)		(619)
Total noninterest income	$	23,461	$	22,849	$	11,675	$	11,786	$	8,013	$	10,788	$	11,039

(1)Gross interchange fees and merchant income were $6.7 billion and $6.6 billion and are presented net of $4.7 billion and $4.6 billion of expenses for rewards and partner payments as well as certain other card costs for the six months ended June 30, 2024 and 2023. Gross interchange fees and merchant income were $3.5 billion, $3.2 billion, $3.4 billion, $3.4 billion and $3.4 billion and are presented net of $2.4 billion, $2.3 billion, $2.4 billion, $2.4 billion and $2.4 billion of expenses for rewards and partner payments as well as certain other card costs for the second and first quarters of 2024 and the fourth, third and second quarters of 2023, respectively.


Current-period information is preliminary and based on company data available at the time of the presentation.			4


Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
		June 30 2024		March 31 2024		June 30 2023
Assets
Cash and due from banks		$	25,849	$	23,550	$	29,651
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		294,783		289,854		343,902
Cash and cash equivalents		320,632		313,404		373,553
Time deposits placed and other short-term investments		8,369		7,859		7,941
Federal funds sold and securities borrowed or purchased under agreements to resell		337,752		316,093		276,281
Trading account assets		306,466		318,364		311,400
Derivative assets		35,956		36,236		46,475
Debt securities:
Carried at fair value		301,051		323,119		142,040
Held-to-maturity, at cost		577,366		586,863		614,118
Total debt securities		878,417		909,982		756,158
Loans and leases		1,056,785		1,049,156		1,051,224
Allowance for loan and lease losses		(13,238)		(13,213)		(12,950)
Loans and leases, net of allowance		1,043,547		1,035,943		1,038,274
Premises and equipment, net		11,917		11,901		11,688
Goodwill		69,021		69,021		69,021
Loans held-for-sale		7,043		8,571		6,788
Customer and other receivables		80,978		86,106		74,000
Other assets		157,898		160,323		151,619
Total assets		$	3,257,996	$	3,273,803	$	3,123,198

Liabilities
Deposits in U.S. offices:
Noninterest-bearing		$	503,037	$	524,982	$	571,621
Interest-bearing		1,291,853		1,304,508		1,197,396
Deposits in non-U.S. offices:
Noninterest-bearing		14,573		16,502		16,662
Interest-bearing		101,028		100,504		91,530
Total deposits		1,910,491		1,946,496		1,877,209
Federal funds purchased and securities loaned or sold under agreements to repurchase		368,106		329,658		288,627
Trading account liabilities		100,345		114,326		97,818
Derivative liabilities		40,508		40,401		43,399
Short-term borrowings		40,429		38,895		41,017
Accrued expenses and other liabilities		213,751		214,129		205,736
Long-term debt		290,474		296,346		286,073
Total liabilities		2,964,104		2,980,251		2,839,879
Shareholders’ equity
Preferred stock, $0.01 par value; authorized –100,000,000 shares; issued and outstanding – 4,013,928, 4,088,099 and 4,088,099 shares		26,548		28,397		28,397
Common stock and additional paid-in capital, $0.01 par value; authorized –12,800,000,000 shares; issued and outstanding – 7,774,753,442, 7,866,868,200 and 7,953,563,116 shares		51,376		54,310		57,267
Retained earnings		233,597		228,902		218,397
Accumulated other comprehensive income (loss)		(17,629)		(18,057)		(20,742)
Total shareholders’ equity		293,892		293,552		283,319
Total liabilities and shareholders’ equity		$	3,257,996	$	3,273,803	$	3,123,198

	Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
	Trading account assets	$	5,647	$	5,838	$	4,610
	Loans and leases	19,827		19,250		15,884
	Allowance for loan and lease losses	(917)		(920)		(796)
	Loans and leases, net of allowance	18,910		18,330		15,088

	All other assets	281		256		126
	Total assets of consolidated variable interest entities	$	24,838	$	24,424	$	19,824

	Liabilities of consolidated variable interest entities included in total liabilities above
	Short-term borrowings	$	3,343	$	3,387	$	1,877
	Long-term debt	9,137		8,157		5,701
	All other liabilities	22		18		10
	Total liabilities of consolidated variable interest entities	$	12,502	$	11,562	$	7,588


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)
	June 30 2024			March 31 2024			June 30 2023
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	198,119		$	196,625		$	190,113
Tier 1 capital	224,641			225,021			218,503
Total capital	251,435			252,400			248,023
Risk-weighted assets	1,661,755			1,657,660			1,639,064
Common equity tier 1 capital ratio	11.9		%	11.9		%	11.6		%
Tier 1 capital ratio	13.5			13.6			13.3
Total capital ratio	15.1			15.2			15.1

Advanced Approaches
Common equity tier 1 capital	$	198,119		$	196,625		$	190,113
Tier 1 capital	224,641			225,021			218,503
Total capital	241,420			242,576			239,279
Risk-weighted assets	1,468,876			1,462,660			1,436,130
Common equity tier 1 capital ratio	13.5		%	13.4		%	13.2		%
Tier 1 capital ratio	15.3			15.4			15.2
Total capital ratio	16.4			16.6			16.7

Leverage-based metrics (1):
Adjusted average assets	$	3,196,465		$	3,168,595		$	3,097,700
Tier 1 leverage ratio	7.0		%	7.1		%	7.1		%

Supplementary leverage exposure	$	3,757,515		$	3,723,890		$	3,641,635
Supplementary leverage ratio	6.0		%	6.0		%	6.0		%

Total ending equity to total ending assets ratio	9.0			9.0			9.1
Common equity ratio	8.2			8.1			8.2
Tangible equity ratio (2)	7.0			7.0			7.0
Tangible common equity ratio (2)	6.2			6.1			6.1

(1)Regulatory capital ratios at June 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 June 30, 2024 and March 31, 2024, and the Common equity tier 1 ratio under the Standardized approach for June 30, 2023.

(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)
	June 30 2024		March 31 2024		June 30 2023
Total common shareholders' equity	$	267,344	$	265,155	$	254,922
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	(8,074)		(8,148)		(7,757)
Intangibles, other than mortgage servicing rights, net of related deferred tax liabilities	(1,467)		(1,482)		(1,523)
Defined benefit pension plan net assets, net-of-tax	(787)		(775)		(898)
Cumulative unrealized net (gain) loss related to changes in fair value of financial liabilities attributable to own creditworthiness, net-of-tax	1,511		1,585		956
Accumulated net (gain) loss on certain cash flow hedges (2)	7,762		8,449		11,886
Other	(149)		(138)		(83)
Common equity tier 1 capital	198,119		196,625		190,113
Qualifying preferred stock, net of issuance cost	26,547		28,396		28,396
Other	(25)		—		(6)
Tier 1 capital	224,641		225,021		218,503
Tier 2 capital instruments	13,584		14,185		17,066
Qualifying allowance for credit losses (3)	13,564		13,592		12,684
Other	(354)		(398)		(230)
Total capital under the Standardized approach	251,435		252,400		248,023
Adjustment in qualifying allowance for credit losses under the Advanced approaches (3)	(10,015)		(9,824)		(8,744)
Total capital under the Advanced approaches	$	241,420	$	242,576	$	239,279

(1)June 30, 2024, March 31, 2024 and June 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)
	Second Quarter 2024						First Quarter 2024						Second 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	$	345,423	$	4,498	5.24	%	$	346,463	$	4,531	5.26	%	$	359,042	$	4,303	4.81	%
Time deposits placed and other short-term investments	10,845		123		4.55		9,728		116		4.80		11,271		129		4.56
Federal funds sold and securities borrowed or purchased under agreements to resell	318,380		5,159		6.52		304,821		5,175		6.83		294,535		4,955		6.75
Trading account assets	202,295		2,542		5.05		202,461		2,482		4.93		187,420		2,091		4.47
Debt securities	852,427		6,352		2.98		842,483		6,162		2.92		771,355		4,717		2.44
Loans and leases (2)
Residential mortgage	227,567		1,824		3.21		227,748		1,803		3.17		228,758		1,704		2.98
Home equity	25,529		405		6.38		25,522		390		6.14		25,957		353		5.45
Credit card	98,983		2,825		11.48		99,815		2,786		11.22		94,431		2,505		10.64

Direct/Indirect and other consumer	103,689		1,428		5.54		103,371		1,399		5.45		104,915		1,274		4.87

Total consumer	455,768		6,482		5.71		456,456		6,378		5.61		454,061		5,836		5.15
U.S. commercial	386,232		5,267		5.49		379,566		5,236		5.55		379,027		4,786		5.06
Non-U.S. commercial	123,094		2,170		7.09		125,024		2,170		6.98		125,827		1,949		6.21
Commercial real estate	71,345		1,285		7.24		71,986		1,311		7.33		74,065		1,303		7.06
Commercial lease financing	15,033		196		5.22		14,858		200		5.41		13,628		149		4.38
Total commercial	595,704		8,918		6.02		591,434		8,917		6.06		592,547		8,187		5.54
Total loans and leases	1,051,472		15,400		5.89		1,047,890		15,295		5.87		1,046,608		14,023		5.37
Other earning assets	107,093		2,940		11.04		106,737		2,682		10.10		102,712		2,271		8.88
Total earning assets	2,887,935		37,014		5.15		2,860,583		36,443		5.12		2,772,943		32,489		4.70
Cash and due from banks	24,208						24,185						26,098
Other assets, less allowance for loan and lease losses	362,845						362,391						376,317
Total assets	$	3,274,988					$	3,247,159					$	3,175,358
Interest-bearing liabilities
U.S. interest-bearing deposits

Demand and money market deposits	$	941,109	$	5,234	2.24	%	$	956,716	$	5,012	2.11	%	$	951,403	$	3,565	1.50	%

Time and savings deposits	348,689		3,331		3.84		325,765		3,059		3.78		230,008		1,452		2.53
Total U.S. interest-bearing deposits	1,289,798		8,565		2.67		1,282,481		8,071		2.53		1,181,411		5,017		1.70




Non-U.S. interest-bearing deposits	106,496		1,090		4.12		104,373		1,067		4.11		96,802		768		3.18
Total interest-bearing deposits	1,396,294		9,655		2.78		1,386,854		9,138		2.65		1,278,213		5,785		1.82
Federal funds purchased and securities loaned or sold under agreements to repurchase	371,372		6,171		6.68		350,507		6,026		6.92		322,728		5,807		7.22
Short-term borrowings and other interest-bearing liabilities	152,742		2,899		7.64		141,091		2,509		7.15		163,739		2,548		6.24
Trading account liabilities	53,895		540		4.03		51,757		546		4.24		44,944		472		4.22
Long-term debt	243,689		3,887		6.40		254,782		4,034		6.35		248,480		3,584		5.78
Total interest-bearing liabilities	2,217,992		23,152		4.20		2,184,991		22,253		4.10		2,058,104		18,196		3.55
Noninterest-bearing sources
Noninterest-bearing deposits	513,631						520,608						597,140
Other liabilities (3)	249,962						249,049						237,689
Shareholders’ equity	293,403						292,511						282,425
Total liabilities and shareholders’ equity	$	3,274,988					$	3,247,159					$	3,175,358
Net interest spread					0.95	%					1.02	%					1.15	%
Impact of noninterest-bearing sources					0.98						0.97						0.91
Net interest income/yield on earning assets (4)			$	13,862	1.93	%			$	14,190	1.99	%			$	14,293	2.06	%

(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 $46.6 billion, $44.1 billion and $39.9 billion of structured notes and liabilities for the second and first quarters of 2024 and the second quarter of 2023, respectively.

(4)Net interest income includes FTE adjustments of $160 million, $158 million and $135 million for the second and first quarters of 2024 and the second 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)
	June 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
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


	March 31, 2024
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	37,971	$	28	$	(1,487)	$	36,512
Agency-collateralized mortgage obligations	2,661		8		(219)		2,450
Commercial	10,978		66		(469)		10,575
Non-agency residential	310		46		(58)		298
Total mortgage-backed securities	51,920		148		(2,233)		49,835
U.S. Treasury and government agencies	229,830		81		(1,072)		228,839
Non-U.S. securities	21,249		23		(21)		21,251
Other taxable securities	3,285		2		(49)		3,238

Tax-exempt securities	10,134		11		(235)		9,910
Total available-for-sale debt securities	316,418		265		(3,610)		313,073
Other debt securities carried at fair value (1)	10,035		90		(79)		10,046
Total debt securities carried at fair value	326,453		355		(3,689)		323,119
Held-to-maturity debt securities
Agency mortgage-backed securities	457,841		—		(88,505)		369,336
U.S. Treasury and government agencies	121,658		—		(19,526)		102,132
Other taxable securities	7,400		—		(1,120)		6,280
Total held-to-maturity debt securities	586,899		—		(109,151)		477,748
Total debt securities	$	913,352	$	355	$	(112,840)	$	800,867

(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)

	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023






FTE basis data (1)
Net interest income	$	28,052		$	28,875		$	13,862		$	14,190		$	14,091		$	14,532		$	14,293
Total revenue, net of interest expense	51,513			51,724			25,537			25,976			22,104			25,320			25,332
Net interest yield	1.96		%	2.13		%	1.93		%	1.99		%	1.97		%	2.11		%	2.06		%
Efficiency ratio	65.12			62.40			63.86			66.36			80.22			62.55			63.31

(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 $318 million and $269 million for the six months ended June 30, 2024 and 2023, $160 million and $158 million for the second and first quarters of 2024, and $145 million, $153 million and $135 million for the fourth, third and second 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)
	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

	First Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	14,190	$	8,197	$	1,814	$	3,460	$	681	$	38
Noninterest income
Fees and commissions:
Card income	1,463		1,272		10		188		17		(24)
Service charges	1,442		578		23		750		90		1
Investment and brokerage services	4,187		78		3,600		18		495		(4)
Investment banking fees	1,568		—		63		850		708		(53)
Total fees and commissions	8,660		1,928		3,696		1,806		1,310		(80)
Market making and similar activities	3,888		5		34		68		3,830		(49)
Other income (loss)	(762)		36		47		646		62		(1,553)
Total noninterest income (loss)	11,786		1,969		3,777		2,520		5,202		(1,682)
Total revenue, net of interest expense	25,976		10,166		5,591		5,980		5,883		(1,644)
Provision for credit losses	1,319		1,150		(13)		229		(36)		(11)
Noninterest expense	17,237		5,475		4,264		3,012		3,492		994
Income (loss) before income taxes	7,420		3,541		1,340		2,739		2,427		(2,627)
Income tax expense (benefit)	746		885		335		753		704		(1,931)
Net income (loss)	$	6,674	$	2,656	$	1,005	$	1,986	$	1,723	$	(696)

Average
Total loans and leases	$	1,047,890	$	313,038	$	218,616	$	373,608	$	133,756	$	8,872
Total assets (1)	3,247,159		1,033,101		341,119		623,073		895,382		354,484
Total deposits	1,907,462		952,466		297,373		525,699		32,585		99,339
Period end
Total loans and leases	$	1,049,156	$	311,725	$	219,844	$	373,403	$	135,267	$	8,917
Total assets (1)	3,273,803		1,060,482		343,718		623,204		902,741		343,658
Total deposits	1,946,496		978,761		298,039		527,113		34,847		107,736

(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)
	Second Quarter 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	14,293	$	8,437	$	1,805	$	3,690	$	297	$	64
Noninterest income
Fees and commissions:
Card income	1,546		1,341		12		200		19		(26)
Service charges	1,364		525		18		735		85		1
Investment and brokerage services	3,839		76		3,251		14		499		(1)
Investment banking fees	1,212		—		40		718		503		(49)
Total fees and commissions	7,961		1,942		3,321		1,667		1,106		(75)
Market making and similar activities	3,697		5		32		69		3,409		182
Other income (loss)	(619)		140		84		1,036		59		(1,938)
Total noninterest income (loss)	11,039		2,087		3,437		2,772		4,574		(1,831)
Total revenue, net of interest expense	25,332		10,524		5,242		6,462		4,871		(1,767)
Provision for credit losses	1,125		1,267		13		9		(4)		(160)
Noninterest expense	16,038		5,453		3,925		2,819		3,349		492
Income (loss) before income taxes	8,169		3,804		1,304		3,634		1,526		(2,099)
Income tax expense (benefit)	761		951		326		981		420		(1,917)
Net income (loss)	$	7,408	$	2,853	$	978	$	2,653	$	1,106	$	(182)

Average
Total loans and leases	$	1,046,608	$	306,662	$	218,604	$	383,058	$	128,539	$	9,745
Total assets (1)	3,175,358		1,085,469		340,105		595,585		877,471		276,728
Total deposits	1,875,353		1,006,337		295,380		497,533		33,222		42,881
Period end
Total loans and leases	$	1,051,224	$	309,735	$	219,208	$	381,609	$	131,128	$	9,544
Total assets (1)	3,123,198		1,084,512		338,184		586,397		851,771		262,334
Total deposits	1,877,209		1,004,482		292,526		492,734		33,049		54,418

(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)
	Six Months Ended June 30, 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	28,052	$	16,315	$	3,507	$	6,735	$	1,451	$	44
Noninterest income
Fees and commissions:
Card income	3,044		2,633		19		386		37		(31)
Service charges	2,949		1,192		47		1,525		183		2
Investment and brokerage services	8,507		156		7,307		39		1,011		(6)
Investment banking fees	3,129		—		120		1,685		1,427		(103)
Total fees and commissions	17,629		3,981		7,493		3,635		2,658		(138)
Market making and similar activities	7,186		11		72		146		7,048		(91)
Other income (loss)	(1,354)		65		93		1,517		185		(3,214)
Total noninterest income (loss)	23,461		4,057		7,658		5,298		9,891		(3,443)
Total revenue, net of interest expense	51,513		20,372		11,165		12,033		11,342		(3,399)
Provision for credit losses	2,827		2,431		(6)		464		(49)		(13)
Noninterest expense	33,546		10,939		8,463		5,911		6,978		1,255
Income (loss) before income taxes	15,140		7,002		2,708		5,658		4,413		(4,641)
Income tax expense (benefit)	1,569		1,751		677		1,556		1,280		(3,695)
Net income (loss)	$	13,571	$	5,251	$	2,031	$	4,102	$	3,133	$	(946)

Average
Total loans and leases	$	1,049,681	$	312,646	$	220,696	$	373,173	$	134,431	$	8,735
Total assets (1)	3,261,071		1,031,439		336,039		623,631		901,952		368,010
Total deposits	1,908,693		950,823		292,525		525,528		32,265		107,552
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

	Six Months Ended June 30, 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	28,875	$	17,030	$	3,681	$	7,597	$	406	$	161
Noninterest income
Fees and commissions:
Card income	3,015		2,615		24		390		35		(49)
Service charges	2,774		1,124		37		1,449		163		1
Investment and brokerage services	7,691		150		6,489		23		1,032		(3)
Investment banking fees	2,375		—		79		1,386		972		(62)
Total fees and commissions	15,855		3,889		6,629		3,248		2,202		(113)
Market making and similar activities	8,409		10		66		114		7,807		412
Other income (loss)	(1,415)		301		181		1,706		82		(3,685)
Total noninterest income (loss)	22,849		4,200		6,876		5,068		10,091		(3,386)
Total revenue, net of interest expense	51,724		21,230		10,557		12,665		10,497		(3,225)
Provision for credit losses	2,056		2,356		38		(228)		(57)		(53)
Noninterest expense	32,276		10,926		7,992		5,759		6,700		899
Income (loss) before income taxes	17,392		7,948		2,527		7,134		3,854		(4,071)
Income tax expense (benefit)	1,823		1,987		632		1,926		1,060		(3,782)
Net income (loss)	$	15,569	$	5,961	$	1,895	$	5,208	$	2,794	$	(289)

Average
Total loans and leases	$	1,043,994	$	305,225	$	220,018	$	382,039	$	126,802	$	9,910
Total assets (1)	3,135,879		1,095,302		349,582		592,254		873,727		225,014
Total deposits	1,884,451		1,016,234		304,648		495,069		34,658		33,842
Period end
Total loans and leases	$	1,051,224	$	309,735	$	219,208	$	381,609	$	131,128	$	9,544
Total assets (1)	3,123,198		1,084,512		338,184		586,397		851,771		262,334
Total deposits	1,877,209		1,004,482		292,526		492,734		33,049		54,418

(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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Net interest income	$	16,315		$	17,030		$	8,118		$	8,197		$	8,268		$	8,391		$	8,437
Noninterest income:
Card income	2,633			2,615			1,361			1,272			1,324			1,325			1,341
Service charges	1,192			1,124			614			578			588			605			525

All other income	232			461			113			119			149			151			221
Total noninterest income	4,057			4,200			2,088			1,969			2,061			2,081			2,087
Total revenue, net of interest expense	20,372			21,230			10,206			10,166			10,329			10,472			10,524

Provision for credit losses	2,431			2,356			1,281			1,150			1,405			1,397			1,267

Noninterest expense	10,939			10,926			5,464			5,475			5,234			5,256			5,453
Income before income taxes	7,002			7,948			3,461			3,541			3,690			3,819			3,804
Income tax expense	1,751			1,987			866			885			922			955			951
Net income	$	5,251		$	5,961		$	2,595		$	2,656		$	2,768		$	2,864		$	2,853

Net interest yield	3.30		%	3.25		%	3.29		%	3.31		%	3.28		%	3.26		%	3.24		%
Return on average allocated capital (1)	24			29			24			25			26			27			27
Efficiency ratio	53.70			51.46			53.54			53.86			50.71			50.18			51.81

Balance Sheet
Average
Total loans and leases	$	312,646		$	305,225		$	312,254		$	313,038		$	313,438		$	310,761		$	306,662
Total earning assets (2)	993,931			1,055,419			992,304			995,556			1,000,032			1,019,980			1,045,743
Total assets (2)	1,031,439			1,095,302			1,029,777			1,033,101			1,038,418			1,059,152			1,085,469
Total deposits	950,823			1,016,234			949,180			952,466			959,247			980,051			1,006,337
Allocated capital (1)	43,250			42,000			43,250			43,250			42,000			42,000			42,000

Period end
Total loans and leases	$	312,801		$	309,735		$	312,801		$	311,725		$	315,119		$	313,216		$	309,735
Total earning assets (2)	995,348			1,043,228			995,348			1,022,320			1,009,360			1,023,162			1,043,228
Total assets (2)	1,033,960			1,084,512			1,033,960			1,060,482			1,049,830			1,062,038			1,084,512
Total deposits	952,473			1,004,482			952,473			978,761			969,572			982,302			1,004,482

(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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Average deposit balances
Checking	$	549,059		$	578,337		$	549,514		$	548,604		$	551,890		$	562,319		$	575,792
Savings	56,843			67,228			56,285			57,401			58,975			62,352			66,142
MMS	261,540			328,822			257,023			266,056			277,912			296,833			317,942
CDs and IRAs	79,594			37,797			82,566			76,621			66,758			54,596			42,445
Other	3,787			4,050			3,792			3,784			3,712			3,951			4,016
Total average deposit balances	$	950,823		$	1,016,234		$	949,180		$	952,466		$	959,247		$	980,051		$	1,006,337

Deposit spreads (excludes noninterest costs)
Checking	2.56		%	2.26		%	2.62		%	2.50		%	2.47		%	2.38		%	2.30		%
Savings	2.85			2.59			2.90			2.80			2.90			2.77			2.65
MMS	3.24			3.13			3.28			3.20			3.64			3.49			3.28
CDs and IRAs	2.02			3.10			2.00			2.04			2.25			2.55			2.96
Other	5.18			4.58			5.18			5.19			5.21			5.05			4.80
Total deposit spreads	2.73			2.60			2.77			2.69			2.83			2.76			2.67

Consumer investment assets	$	476,116		$	386,761		$	476,116		$	456,391		$	424,410		$	387,467		$	386,761

Active digital banking users (in thousands) (1)	47,304			45,713			47,304			47,079			46,265			45,797			45,713
Active mobile banking users (in thousands) (2)	38,988			37,329			38,988			38,544			37,927			37,487			37,329
Financial centers	3,786			3,887			3,786			3,804			3,845			3,862			3,887
ATMs	14,972			15,335			14,972			15,028			15,168			15,253			15,335

Total credit card (3)
Loans
Average credit card outstandings	$	99,399		$	93,110		$	98,983		$	99,815		$	100,389		$	98,049		$	94,431
Ending credit card outstandings	99,450			97,009			99,450			98,453			102,200			99,686			97,009
Credit quality
Net charge-offs	$	1,854		$	1,111		$	955		$	899		$	777		$	673		$	610
	3.75		%	2.41		%	3.88		%	3.62		%	3.07		%	2.72		%	2.60		%
30+ delinquency	$	2,415		$	1,810		$	2,415		$	2,446		$	2,419		$	2,097		$	1,810
	2.43		%	1.87		%	2.43		%	2.48		%	2.37		%	2.10		%	1.87		%
90+ delinquency	$	1,257		$	897		$	1,257		$	1,299		$	1,224		$	1,016		$	897
	1.26		%	0.92		%	1.26		%	1.32		%	1.20		%	1.02		%	0.92		%
Other total credit card indicators (3)
Gross interest yield	12.28		%	11.75		%	12.32		%	12.24		%	11.97		%	12.03		%	11.66		%
Risk-adjusted margin	6.78			8.25			6.75			6.81			7.18			7.70			7.83
New accounts (in thousands)	1,949			2,324			951			998			889			1,062			1,137
Purchase volumes	$	180,307		$	178,647		$	93,296		$	87,011		$	92,759		$	91,711		$	93,103

Debit card data
Purchase volumes	$	272,753		$	257,338		$	140,346		$	132,407		$	136,183		$	133,553		$	132,962

Loan production (4)
Consumer Banking:
First mortgage	$	4,384		$	4,845		$	2,696		$	1,688		$	1,753		$	2,547		$	2,889
Home equity	3,627			4,354			2,027			1,600			1,939			2,035			2,171
Total (5):
First mortgage	$	9,171		$	9,877		$	5,728		$	3,443		$	3,932		$	5,596		$	5,940
Home equity	4,284			5,138			2,393			1,891			2,255			2,421			2,542

(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)
	Second Quarter 2024									First Quarter 2024
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	8,118		$	5,220		$	2,898		$	8,197		$	5,269		$	2,928
Noninterest income:
Card income	1,361			(10)			1,371			1,272			(10)			1,282
Service charges	614			614			—			578			577			1
All other income	113			95			18			119			102			17
Total noninterest income	2,088			699			1,389			1,969			669			1,300
Total revenue, net of interest expense	10,206			5,919			4,287			10,166			5,938			4,228

Provision for credit losses	1,281			74			1,207			1,150			76			1,074

Noninterest expense	5,464			3,385			2,079			5,475			3,378			2,097
Income before income taxes	3,461			2,460			1,001			3,541			2,484			1,057
Income tax expense	866			616			250			885			621			264
Net income	$	2,595		$	1,844		$	751		$	2,656		$	1,863		$	793

Net interest yield	3.29		%	2.22		%	3.78		%	3.31		%	2.23		%	3.81		%
Return on average allocated capital (1)	24			54			10			25			55			11
Efficiency ratio	53.54			57.20			48.49			53.86			56.89			49.60

Balance Sheet
Average
Total loans and leases	$	312,254		$	4,299		$	307,955		$	313,038		$	4,241		$	308,797
Total earning assets (2)	992,304			946,784			308,116			995,556			950,194			308,914
Total assets (2)	1,029,777			979,302			313,070			1,033,101			982,857			313,795
Total deposits	949,180			944,363			4,817			952,466			947,843			4,623
Allocated capital (1)	43,250			13,700			29,550			43,250			13,700			29,550

Period end
Total loans and leases	$	312,801		$	4,357		$	308,444		$	311,725		$	4,260		$	307,465
Total earning assets (2)	995,348			948,823			308,592			1,022,320			976,167			307,634
Total assets (2)	1,033,960			981,546			314,481			1,060,482			1,008,366			313,598
Total deposits	952,473			946,420			6,053			978,761			972,906			5,855

										Second Quarter 2023
										Total Consumer Banking			Deposits			Consumer Lending
Net interest income										$	8,437		$	5,733		$	2,704
Noninterest income:
Card income										1,341			(10)			1,351
Service charges										525			524			1
All other income										221			177			44
Total noninterest income										2,087			691			1,396
Total revenue, net of interest expense										10,524			6,424			4,100

Provision for credit losses										1,267			103			1,164

Noninterest expense										5,453			3,428			2,025
Income before income taxes										3,804			2,893			911
Income tax expense										951			723			228
Net income										$	2,853		$	2,170		$	683

Net interest yield										3.24		%	2.29		%	3.58		%
Return on average allocated capital (1)										27			64			10
Efficiency ratio										51.81			53.33			49.43

Balance Sheet
Average
Total loans and leases										$	306,662		$	4,078		$	302,584
Total earning assets (2)										1,045,743			1,002,528			302,944
Total assets (2)										1,085,469			1,035,969			309,228
Total deposits										1,006,337			1,001,307			5,030
Allocated capital (1)										42,000			13,700			28,300

Period end
Total loans and leases										$	309,735		$	4,122		$	305,613
Total earning assets (2)										1,043,228			999,281			306,121
Total assets (2)										1,084,512			1,034,405			312,281
Total deposits										1,004,482			999,262			5,220

(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)
	Six Months Ended June 30
	2024									2023
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	16,315		$	10,489		$	5,826		$	17,030		$	11,549		$	5,481
Noninterest income:
Card income	2,633			(20)			2,653			2,615			(20)			2,635
Service charges	1,192			1,191			1			1,124			1,122			2
All other income	232			197			35			461			374			87
Total noninterest income	4,057			1,368			2,689			4,200			1,476			2,724
Total revenue, net of interest expense	20,372			11,857			8,515			21,230			13,025			8,205

Provision for credit losses	2,431			150			2,281			2,356			286			2,070

Noninterest expense	10,939			6,764			4,175			10,926			6,843			4,083
Income before income taxes	7,002			4,943			2,059			7,948			5,896			2,052
Income tax expense	1,751			1,236			515			1,987			1,474			513
Net income	$	5,251		$	3,707		$	1,544		$	5,961		$	4,422		$	1,539

Net interest yield	3.30		%	2.22		%	3.80		%	3.25		%	2.30		%	3.67		%
Return on average allocated capital (1)	24			54			11			29			65			11
Efficiency ratio	53.70			57.04			49.04			51.46			52.53			49.77

Balance Sheet
Average
Total loans and leases	$	312,646		$	4,270		$	308,376		$	305,225		$	4,099		$	301,126
Total earning assets (2)	993,931			948,489			308,515			1,055,419			1,012,432			301,378
Total assets (2)	1,031,439			981,080			313,433			1,095,302			1,045,933			307,760
Total deposits	950,823			946,103			4,720			1,016,234			1,011,285			4,949
Allocated capital (1)	43,250			13,700			29,550			42,000			13,700			28,300

Period end
Total loans and leases	$	312,801		$	4,357		$	308,444		$	309,735		$	4,122		$	305,613
Total earning assets (2)	995,348			948,823			308,592			1,043,228			999,281			306,121
Total assets (2)	1,033,960			981,546			314,481			1,084,512			1,034,405			312,281
Total deposits	952,473			946,420			6,053			1,004,482			999,262			5,220

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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Net interest income	$	3,507		$	3,681		$	1,693		$	1,814		$	1,711		$	1,755		$	1,805
Noninterest income:
Investment and brokerage services	7,307			6,489			3,707			3,600			3,328			3,396			3,251
All other income	351			387			174			177			188			170			186
Total noninterest income	7,658			6,876			3,881			3,777			3,516			3,566			3,437
Total revenue, net of interest expense	11,165			10,557			5,574			5,591			5,227			5,321			5,242

Provision for credit losses	(6)			38			7			(13)			(26)			(6)			13

Noninterest expense	8,463			7,992			4,199			4,264			3,894			3,950			3,925
Income before income taxes	2,708			2,527			1,368			1,340			1,359			1,377			1,304
Income tax expense	677			632			342			335			340			344			326
Net income	$	2,031		$	1,895		$	1,026		$	1,005		$	1,019		$	1,033		$	978

Net interest yield	2.19		%	2.20		%	2.15		%	2.23		%	2.10		%	2.16		%	2.21		%
Return on average allocated capital (1)	22			21			22			22			22			22			21

Efficiency ratio	75.80			75.70			75.34			76.27			74.41			74.28			74.86

Balance Sheet
Average
Total loans and leases	$	220,696		$	220,018		$	222,776		$	218,616		$	219,425		$	218,569		$	218,604
Total earning assets (2)	322,471			336,671			317,250			327,692			322,827			322,032			327,066
Total assets (2)	336,039			349,582			330,958			341,119			336,067			335,124			340,105
Total deposits	292,525			304,648			287,678			297,373			292,478			291,770			295,380
Allocated capital (1)	18,500			18,500			18,500			18,500			18,500			18,500			18,500


Period end
Total loans and leases	$	224,837		$	219,208		$	224,837		$	219,844		$	219,657		$	218,913		$	219,208
Total earning assets (2)	310,055			324,820			310,055			329,515			330,653			320,196			324,820
Total assets (2)	324,476			338,184			324,476			343,718			344,626			333,779			338,184
Total deposits	281,283			292,526			281,283			298,039			299,657			290,732			292,526

(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)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Revenue by Business
Merrill Wealth Management	$	9,270	$	8,737	$	4,623	$	4,647	$	4,326	$	4,398	$	4,340
Bank of America Private Bank	1,895		1,820		951		944		901		923		902

Total revenue, net of interest expense	$	11,165	$	10,557	$	5,574	$	5,591	$	5,227	$	5,321	$	5,242

Client Balances by Business, at period end
Merrill Wealth Management	$	3,371,418	$	3,057,680	$	3,371,418	$	3,339,693	$	3,182,735	$	2,978,229	$	3,057,680
Bank of America Private Bank	640,467		577,514		640,467		633,697		606,639		572,624		577,514

Total client balances	$	4,011,885	$	3,635,194	$	4,011,885	$	3,973,390	$	3,789,374	$	3,550,853	$	3,635,194

Client Balances by Type, at period end


Assets under management (1)	$	1,758,875	$	1,531,042	$	1,758,875	$	1,730,005	$	1,617,740	$	1,496,601	$	1,531,042
Brokerage and other assets	1,779,881		1,628,294		1,779,881		1,758,642		1,688,923		1,578,123		1,628,294

Deposits	281,283		292,526		281,283		298,039		299,657		290,732		292,526
Loans and leases (2)	227,657		222,280		227,657		222,528		222,287		221,684		222,280
Less: Managed deposits in assets under management	(35,811)		(38,948)		(35,811)		(35,824)		(39,233)		(36,287)		(38,948)
Total client balances	$	4,011,885	$	3,635,194	$	4,011,885	$	3,973,390	$	3,789,374	$	3,550,853	$	3,635,194

Assets Under Management Rollforward
Assets under management, beginning balance	$	1,617,740	$	1,401,474	$	1,730,005	$	1,617,740	$	1,496,601	$	1,531,042	$	1,467,242
Net client flows	35,445		29,558		10,790		24,655		8,443		14,226		14,296

Market valuation/other	105,690		100,010		18,080		87,610		112,696		(48,667)		49,504
Total assets under management, ending balance	$	1,758,875	$	1,531,042	$	1,758,875	$	1,730,005	$	1,617,740	$	1,496,601	$	1,531,042

(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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Net interest income	$	6,735		$	7,597		$	3,275		$	3,460		$	3,435		$	3,613		$	3,690
Noninterest income:
Service charges	1,525			1,449			775			750			749			754			735
Investment banking fees	1,685			1,386			835			850			690			743			718
All other income	2,088			2,233			1,168			920			1,054			1,093			1,319
Total noninterest income	5,298			5,068			2,778			2,520			2,493			2,590			2,772
Total revenue, net of interest expense	12,033			12,665			6,053			5,980			5,928			6,203			6,462

Provision for credit losses	464			(228)			235			229			(239)			(119)			9

Noninterest expense	5,911			5,759			2,899			3,012			2,781			2,804			2,819
Income before income taxes	5,658			7,134			2,919			2,739			3,386			3,518			3,634
Income tax expense	1,556			1,926			803			753			914			950			981
Net income	$	4,102		$	5,208		$	2,116		$	1,986		$	2,472		$	2,568		$	2,653

Net interest yield	2.44		%	2.92		%	2.37		%	2.50		%	2.45		%	2.68		%	2.80		%
Return on average allocated capital (1)	17			21			17			16			20			21			22
Efficiency ratio	49.12			45.46			47.88			50.37			46.92			45.22			43.59

Balance Sheet
Average
Total loans and leases	$	373,173		$	382,039		$	372,738		$	373,608		$	374,862		$	376,214		$	383,058
Total earning assets (2)	555,895			525,181			555,834			555,957			557,147			534,153			527,959
Total assets (2)	623,631			592,254			624,189			623,073			624,093			601,378			595,585
Total deposits	525,528			495,069			525,357			525,699			527,597			504,432			497,533
Allocated capital (1)	49,250			49,250			49,250			49,250			49,250			49,250			49,250

Period end
Total loans and leases	$	372,421		$	381,609		$	372,421		$	373,403		$	373,891		$	373,351		$	381,609
Total earning assets (2)	550,525			518,547			550,525			554,253			552,453			521,423			518,547
Total assets (2)	620,217			586,397			620,217			623,204			621,751			588,578			586,397
Total deposits	522,525			492,734			522,525			527,113			527,060			494,938			492,734

(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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Investment Banking fees (1)
Advisory (2)	$	639		$	646		$	322		$	317		$	350		$	396		$	333
Debt issuance	746			553			363			383			265			255			263
Equity issuance	300			187			150			150			75			92			122
Total Investment Banking fees (3)	$	1,685		$	1,386		$	835		$	850		$	690		$	743		$	718

Business Lending
Corporate	$	2,325		$	2,393		$	1,260		$	1,065		$	1,235		$	1,300		$	1,359
Commercial	2,527			2,503			1,247			1,280			1,251			1,262			1,270
Business Banking	117			130			58			59			62			61			63
Total Business Lending revenue	$	4,969		$	5,026		$	2,565		$	2,404		$	2,548		$	2,623		$	2,692

Global Transaction Services
Corporate	$	2,596		$	3,032		$	1,261		$	1,335		$	1,322		$	1,392		$	1,483
Commercial	1,908			2,174			938			970			967			998			1,045
Business Banking	723			782			362			361			370			379			395
Total Global Transaction Services revenue	$	5,227		$	5,988		$	2,561		$	2,666		$	2,659		$	2,769		$	2,923

Average deposit balances
Interest-bearing	$	364,940		$	273,188		$	367,779		$	362,100		$	351,007		$	315,289		$	289,187
Noninterest-bearing	160,588			221,881			157,578			163,599			176,590			189,143			208,346
Total average deposits	$	525,528		$	495,069		$	525,357		$	525,699		$	527,597		$	504,432		$	497,533



Provision for credit losses	$	464		$	(228)		$	235		$	229		$	(239)		$	(119)		$	9

Credit quality (4, 5)
Reservable criticized utilized exposure	$	22,619		$	19,714		$	22,619		$	22,530		$	21,597		$	22,025		$	19,714
	5.75		%	4.89		%	5.75		%	5.70		%	5.46		%	5.58		%	4.89		%

Nonperforming loans, leases and foreclosed properties	$	2,731		$	1,248		$	2,731		$	3,075		$	2,673		$	1,908		$	1,248
	0.74		%	0.33		%	0.74		%	0.83		%	0.72		%	0.51		%	0.33		%

Average loans and leases by product
U.S. commercial	$	227,329		$	229,836		$	228,189		$	226,470		$	225,070		$	225,758		$	230,111
Non-U.S. commercial	75,256			81,977			74,227			76,284			78,483			78,748			81,546
Commercial real estate	55,333			56,241			54,984			55,683			56,735			57,573			57,449
Commercial lease financing	15,253			13,984			15,336			15,170			14,573			14,134			13,951
Other	2			1			2			1			1			1			1
Total average loans and leases	$	373,173		$	382,039		$	372,738		$	373,608		$	374,862		$	376,214		$	383,058

Total Corporation Investment Banking fees
Advisory (2)	$	747		$	738		$	374		$	373		$	389		$	448		$	375
Debt issuance	1,765			1,244			880			885			589			570			600
Equity issuance	720			455			357			363			199			232			287
Total investment banking fees including self-led deals	3,232			2,437			1,611			1,621			1,177			1,250			1,262
Self-led deals	(103)			(62)			(50)			(53)			(32)			(62)			(50)
Total Investment Banking fees	$	3,129		$	2,375		$	1,561		$	1,568		$	1,145		$	1,188		$	1,212

(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)
	Six Months Ended June 30						Second Quarter 2024			First Quarter 2024			Fourth Quarter 2023			Third Quarter 2023			Second Quarter 2023
	2024			2023
Net interest income	$	1,451		$	406		$	770		$	681		$	598		$	674		$	297
Noninterest income:
Investment and brokerage services	1,011			1,032			516			495			486			475			499
Investment banking fees	1,427			972			719			708			439			463			503
Market making and similar activities	7,048			7,807			3,218			3,830			2,428			3,195			3,409
All other income	405			280			236			169			137			135			163
Total noninterest income	9,891			10,091			4,689			5,202			3,490			4,268			4,574
Total revenue, net of interest expense (1)	11,342			10,497			5,459			5,883			4,088			4,942			4,871

Provision for credit losses	(49)			(57)			(13)			(36)			(60)			(14)			(4)

Noninterest expense	6,978			6,700			3,486			3,492			3,271			3,235			3,349
Income before income taxes	4,413			3,854			1,986			2,427			877			1,721			1,526
Income tax expense	1,280			1,060			576			704			241			473			420
Net income	$	3,133		$	2,794		$	1,410		$	1,723		$	636		$	1,248		$	1,106

Return on average allocated capital (2)	14		%	12		%	13		%	15		%	6		%	11		%	10		%

Efficiency ratio	61.52			63.82			63.83			59.38			80.00			65.47			68.74

Balance Sheet
Average
Total trading-related assets	$	634,794		$	623,566		$	639,763		$	629,826		$	615,414		$	609,744		$	621,125
Total loans and leases	134,431			126,802			135,106			133,756			133,631			131,298			128,539
Total earning assets	699,615			643,024			706,383			692,851			667,094			655,971			657,947
Total assets	901,952			873,727			908,525			895,382			867,953			863,653			877,471
Total deposits	32,265			34,658			31,944			32,585			31,950			31,890			33,222
Allocated capital (2)	45,500			45,500			45,500			45,500			45,500			45,500			45,500


Period end
Total trading-related assets	$	619,122		$	599,787		$	619,122		$	629,082		$	542,544		$	613,009		$	599,787
Total loans and leases	138,441			131,128			138,441			135,267			136,223			134,386			131,128
Total earning assets	701,978			640,712			701,978			698,279			637,955			660,172			640,712
Total assets	887,162			851,771			887,162			902,741			817,588			864,792			851,771
Total deposits	33,151			33,049			33,151			34,847			34,833			31,041			33,049

Trading-related assets (average)
Trading account securities	$	322,207		$	328,529		$	321,204		$	323,210		$	309,051		$	307,990		$	317,928
Reverse repurchases	136,991			133,155			139,901			134,081			133,209			135,401			139,480
Securities borrowed	137,278			118,392			139,705			134,852			129,365			119,936			120,481
Derivative assets	38,318			43,490			38,953			37,683			43,789			46,417			43,236
Total trading-related assets	$	634,794		$	623,566		$	639,763		$	629,826		$	615,414		$	609,744		$	621,125

(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)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	5,973	$	6,107	$	2,742	$	3,231	$	2,079	$	2,710	$	2,667
Equities	3,798		3,245		1,937		1,861		1,540		1,695		1,618
Total sales and trading revenue	$	9,771	$	9,352	$	4,679	$	5,092	$	3,619	$	4,405	$	4,285

Sales and trading revenue, excluding net debit valuation adjustment (2,3)
Fixed-income, currencies and commodities	$	6,044	$	6,193	$	2,737	$	3,307	$	2,206	$	2,723	$	2,764
Equities	3,813		3,247		1,943		1,870		1,545		1,698		1,623
Total sales and trading revenue, excluding net debit valuation adjustment	$	9,857	$	9,440	$	4,680	$	5,177	$	3,751	$	4,421	$	4,387

Sales and trading revenue breakdown
Net interest income	$	1,124	$	63	$	612	$	512	$	432	$	518	$	137
Commissions	1,011		1,021		517		494		486		474		492
Trading	7,047		7,805		3,217		3,830		2,428		3,194		3,407
Other	589		463		333		256		273		219		249
Total sales and trading revenue	$	9,771	$	9,352	$	4,679	$	5,092	$	3,619	$	4,405	$	4,285

(1) Includes Global Banking sales and trading revenue of $330 million and $331 million for the six months ended June 30, 2024 and 2023, $186 million and $144 million for the second and first quarters of 2024, and $190 million, $133 million and $154 million for the fourth, third and second 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 $(86) million and $(88) million for the six months ended June 30, 2024 and 2023, $(1) million and $(85) million for the second and first quarters of 2024, and $(132) million, $(16) million and $(102) million for the fourth, third and second quarters of 2023, respectively. FICC net DVA gains (losses) were $(71) million and $(86) million for the six months ended June 30, 2024 and 2023, $5 million and $(76) million for the second and first quarters of 2024, and $(127) million, $(13) million and $(97) million for the fourth, third and second quarters of 2023, respectively. Equities net DVA gains (losses) were $(15) million and $(2) million for the six months ended June 30, 2024 and 2023, $(6) million and $(9) million for the second and first quarters of 2024, and $(5) million, $(3) million and $(5) million for the fourth, third and second 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)
	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023
Net interest income	$	44	$	161	$	6	$	38	$	79	$	99	$	64





Noninterest income (loss)	(3,443)		(3,386)		(1,761)		(1,682)		(3,547)		(1,717)		(1,831)
Total revenue, net of interest expense	(3,399)		(3,225)		(1,755)		(1,644)		(3,468)		(1,618)		(1,767)

Provision for credit losses	(13)		(53)		(2)		(11)		24		(24)		(160)



Noninterest expense	1,255		899		261		994		2,551		593		492
Loss before income taxes	(4,641)		(4,071)		(2,014)		(2,627)		(6,043)		(2,187)		(2,099)
Income tax expense (benefit)	(3,695)		(3,782)		(1,764)		(1,931)		(2,292)		(2,276)		(1,917)
Net income (loss)	$	(946)	$	(289)	$	(250)	$	(696)	$	(3,751)	$	89	$	(182)

Balance Sheet
Average
Total loans and leases	$	8,735	$	9,910	$	8,598	$	8,872	$	9,349	$	9,412	$	9,745
Total assets (2)	368,010		225,014		381,539		354,484		346,628		269,159		276,728
Total deposits	107,552		33,842		115,766		99,339		93,739		68,010		42,881

Period end
Total loans and leases	$	8,285	$	9,544	$	8,285	$	8,917	$	8,842	$	9,283	$	9,544

Total assets (3)	392,181		262,334		392,181		343,658		346,356		303,903		262,334
Total deposits	121,059		54,418		121,059		107,736		92,705		85,588		54,418

(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 $949.8 billion and $995.1 billion for the six months ended June 30, 2024 and 2023, $941.7 billion and $958.0 billion for the second and first quarters of 2024, and $958.4 billion, $955.7 billion and $977.8 billion for the fourth, third and second quarters of 2023, respectively.

(3)Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $931.1 billion, $987.1 billion, $972.9 billion, $945.7 billion and $963.6 billion at June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023 and June 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)
	June 30 2024		March 31 2024		June 30 2023
Consumer
Residential mortgage	$	227,870	$	227,435	$	228,915
Home equity	25,442		25,185		25,536
Credit card	99,450		98,453		97,009
Direct/Indirect consumer (1)	103,834		102,849		104,412
Other consumer (2)	117		115		132
Total consumer loans excluding loans accounted for under the fair value option	456,713		454,037		456,004
Consumer loans accounted for under the fair value option (3)	231		235		266
Total consumer	456,944		454,272		456,270

Commercial
U.S. commercial	369,139		362,744		360,796
Non-U.S. commercial	122,183		123,073		123,518
Commercial real estate (4)	70,284		71,652		74,290
Commercial lease financing	14,874		14,781		13,493
	576,480		572,250		572,097
U.S. small business commercial	20,395		19,931		18,796
Total commercial loans excluding loans accounted for under the fair value option	596,875		592,181		590,893
Commercial loans accounted for under the fair value option (3)	2,966		2,703		4,061
Total commercial	599,841		594,884		594,954

Total loans and leases	$	1,056,785	$	1,049,156	$	1,051,224

(1)Includes primarily auto and specialty lending loans and leases of $53.6 billion, $54.1 billion and $53.3 billion, U.S. securities-based lending loans of $46.7 billion, $45.3 billion and $47.3 billion and non-U.S. consumer loans of $2.8 billion, $2.7 billion and $2.9 billion at June 30, 2024, March 31, 2024 and June 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, $62 million and $69 million and home equity loans of $168 million, $173 million and $197 million at June 30, 2024, March 31, 2024 and June 30, 2023, respectively. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.0 billion, $1.7 billion and $2.3 billion and non-U.S. commercial loans of $945 million, $965 million and $1.8 billion at June 30, 2024, March 31, 2024 and June 30, 2023, respectively.

(4)Includes U.S. commercial real estate loans of $64.4 billion, $65.5 billion and $68.1 billion and non-U.S. commercial real estate loans of $5.9 billion, $6.2 billion and $6.2 billion at June 30, 2024, March 31, 2024 and June 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)
	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

	First Quarter 2024
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	227,748	$	115,536	$	105,177	$	1	$	—	$	7,034
Home equity	25,522		21,289		2,402		—		159		1,672
Credit card	99,815		96,480		3,335		—		—		—
Direct/Indirect and other consumer	103,371		54,413		48,956		—		—		2
Total consumer	456,456		287,718		159,870		1		159		8,708

Commercial
U.S. commercial	379,566		25,310		51,029		226,470		76,590		167
Non-U.S. commercial	125,024		—		572		76,284		47,861		307
Commercial real estate	71,986		10		7,145		55,683		9,146		2
Commercial lease financing	14,858		—		—		15,170		—		(312)
Total commercial	591,434		25,320		58,746		373,607		133,597		164
Total loans and leases	$	1,047,890	$	313,038	$	218,616	$	373,608	$	133,756	$	8,872

	Second Quarter 2023
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Consumer
Residential mortgage	$	228,758	$	117,141	$	104,024	$	1	$	—	$	7,592
Home equity	25,957		21,221		2,376		—		187		2,173
Credit card	94,431		91,252		3,180		—		—		(1)
Direct/Indirect and other consumer	104,915		53,431		51,481		—		—		3
Total consumer	454,061		283,045		161,061		1		187		9,767

Commercial
U.S. commercial	379,027		23,607		49,591		230,111		75,535		183
Non-U.S. commercial	125,827		—		928		81,546		43,236		117
Commercial real estate	74,065		10		7,024		57,449		9,581		1
Commercial lease financing	13,628		—		—		13,951		—		(323)
Total commercial	592,547		23,617		57,543		383,057		128,352		(22)
Total loans and leases	$	1,046,608	$	306,662	$	218,604	$	383,058	$	128,539	$	9,745


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
	June 30 2024		March 31 2024		June 30 2023		June 30 2024		March 31 2024		June 30 2023
Asset managers and funds	$	106,806	$	104,602	$	104,838	$	174,326	$	172,321	$	168,062
Real estate (5)	71,734		72,992		74,545		97,266		99,338		101,284
Capital goods	48,192		49,292		49,505		92,243		94,710		92,886
Finance companies	60,950		60,501		57,375		89,871		89,253		82,742
Healthcare equipment and services	34,369		35,013		34,511		62,557		61,827		61,174
Materials	25,662		25,257		26,192		56,069		54,935		55,838
Retailing	25,016		25,399		25,618		53,432		53,193		54,017
Consumer services	27,525		29,287		27,826		51,504		51,724		49,921
Food, beverage and tobacco	24,317		23,624		24,351		49,745		48,283		49,331
Government and public education	31,755		31,453		32,398		47,840		47,041		46,720
Individuals and trusts	34,124		32,800		32,930		46,069		44,587		43,957
Commercial services and supplies	23,282		23,073		24,588		42,292		41,480		42,500
Utilities	17,426		17,571		18,655		39,416		39,298		39,108
Energy	12,332		12,143		12,999		37,122		37,978		36,034
Transportation	23,798		23,868		23,486		34,860		35,924		35,317
Technology hardware and equipment	11,033		11,363		10,980		29,585		29,605		29,909
Software and services	10,901		9,904		10,770		26,734		25,257		25,397
Global commercial banks	21,621		22,816		26,444		24,819		25,667		28,994
Media	12,626		12,944		14,558		24,302		24,998		26,377
Vehicle dealers	18,179		17,365		14,245		23,546		23,370		21,228
Consumer durables and apparel	8,803		8,948		9,619		21,201		20,771		21,146
Pharmaceuticals and biotechnology	6,778		7,202		7,070		20,920		20,428		21,859
Insurance	9,903		8,499		10,591		20,115		19,423		20,096
Telecommunication services	9,165		9,396		9,901		17,685		17,186		17,370
Automobiles and components	8,044		7,508		8,060		16,192		15,724		15,979
Food and staples retailing	7,956		7,512		7,519		12,911		13,200		13,107
Financial markets infrastructure (clearinghouses)	2,953		2,687		3,013		5,156		5,008		5,797
Religious and social organizations	2,563		2,734		2,437		4,367		4,643		4,373

Total commercial credit exposure by industry	$	697,813	$	695,753	$	705,024	$	1,222,145	$	1,217,172	$	1,210,523

(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 $56.8 billion, $57.7 billion and $52.1 billion at June 30, 2024, March 31, 2024 and June 30, 2023, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $27.4 billion, $27.9 billion and $30.9 billion, which consists primarily of other marketable securities, at June 30, 2024, March 31, 2024 and June 30, 2023, respectively.

(2)Total utilized and total committed exposure includes loans of $3.0 billion, $2.7 billion and $4.1 billion and issued letters of credit with a notional amount of $25 million, $25 million and $12 million accounted for under the fair value option at June 30, 2024, March 31, 2024 and June 30, 2023, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $3.2 billion, $3.1 billion and $2.6 billion at June 30, 2024, March 31, 2024 and June 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)
	June 30 2024			March 31 2024			December 31 2023			September 30 2023			June 30 2023
Residential mortgage	$	2,097		$	2,112		$	2,114		$	2,185		$	2,140
Home equity	422			438			450			479			482

Direct/Indirect consumer	152			147			148			128			107

Total consumer	2,671			2,697			2,712			2,792			2,729
U.S. commercial	700			720			636			561			476
Non-U.S. commercial	90			157			175			102			84
Commercial real estate	1,971			2,273			1,927			1,343			816
Commercial lease financing	19			16			19			18			6
	2,780			3,166			2,757			2,024			1,382
U.S. small business commercial	22			20			16			17			15
Total commercial	2,802			3,186			2,773			2,041			1,397
Total nonperforming loans and leases	5,473			5,883			5,485			4,833			4,126
Foreclosed properties (1)	218			151			145			160			148
Total nonperforming loans, leases, and foreclosed properties(2, 3)	$	5,691		$	6,034		$	5,630		$	4,993		$	4,274

Fully-insured home loans past due 30 days or more and still accruing	$	466		$	476		$	527		$	523		$	525
Consumer credit card past due 30 days or more and still accruing	2,415			2,446			2,419			2,097			1,811
Other loans past due 30 days or more and still accruing	2,770			2,907			2,974			2,848			2,920
Total loans past due 30 days or more and still accruing (4, 5)	$	5,651		$	5,829		$	5,920		$	5,468		$	5,256

Fully-insured home loans past due 90 days or more and still accruing	$	211		$	230		$	252		$	265		$	288
Consumer credit card past due 90 days or more and still accruing	1,257			1,299			1,224			1,016			896
Other loans past due 90 days or more and still accruing	332			343			280			286			356
Total loans past due 90 days or more and still accruing (5)	$	1,800		$	1,872		$	1,756		$	1,567		$	1,540

Nonperforming loans, leases and foreclosed properties/Total assets (6)	0.17		%	0.18		%	0.18		%	0.16		%	0.14		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)	0.54			0.58			0.54			0.48			0.41
Nonperforming loans and leases/Total loans and leases (6)	0.52			0.56			0.52			0.46			0.39

Commercial reservable criticized utilized exposure (7)	$	24,761		$	24,529		$	23,300		$	23,722		$	21,469
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (6)	3.94		%	3.93		%	3.74		%	3.83		%	3.44		%
Total commercial criticized utilized exposure/Commercial utilized exposure (7)	4.14			4.13			4.00			4.12			3.79

(1)Includes repossessed assets of $24 million and $23 million for the second and first quarters of 2024, and $22 million, $20 million and $0 for the fourth, third and second quarters of 2023.

(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 $707 million, $379 million, $161 million, $173 million and $174 million at June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023 and June 30, 2023, respectively.

(4)Balances do not include loans held-for-sale past due 30 days or more and still accruing of $46 million, $106 million, $72 million, $22 million and $39 million at June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023 and June 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 $3.2 billion, $2.9 billion, $3.6 billion, $4.3 billion and $4.3 billion at June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023 and June 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)
	Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	2,697	$	2,712	$	2,792	$	2,729	$	2,714

Additions	223		254		247		297		258


Reductions:
Paydowns and payoffs	(118)		(131)		(129)		(117)		(131)
Sales	(1)		(1)		(57)		(2)		(2)
Returns to performing status (2)	(121)		(113)		(122)		(91)		(92)
Charge-offs (3)	(7)		(10)		(15)		(13)		(13)
Transfers to foreclosed properties	(2)		(14)		(4)		(11)		(5)

Total net additions (reductions) to nonperforming loans and leases	(26)		(15)		(80)		63		15
Total nonperforming consumer loans and leases, end of period	2,671		2,697		2,712		2,792		2,729
Foreclosed properties (4)	114		112		103		112		97
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	2,785	$	2,809	$	2,815	$	2,904	$	2,826

Nonperforming Commercial Loans and Leases (5):
Balance, beginning of period	$	3,186	$	2,773	$	2,041	$	1,397	$	1,204

Additions	704		1,006		1,085		875		484
Reductions:
Paydowns	(505)		(220)		(121)		(153)		(171)
Sales	(9)		(1)		(1)		—		(3)
Returns to performing status (6)	(129)		(4)		(45)		(2)		(7)
Charge-offs	(357)		(368)		(186)		(67)		(87)
Transfers to foreclosed properties	(88)		—		—		—		(23)
Transfers to loans held-for-sale	—		—		—		(9)		—
Total net additions (reductions) to nonperforming loans and leases	(384)		413		732		644		193
Total nonperforming commercial loans and leases, end of period	2,802		3,186		2,773		2,041		1,397
Foreclosed properties (4)	104		39		42		48		51
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	2,906	$	3,225	$	2,815	$	2,089	$	1,448

(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 $22 million in consumer loans and $2 million in commercial loans for the second quarter of 2024. Includes $22 million, $20 million, $19 million and $0 in consumer loans and $1 million, $2 million, $1 million and $0 in commercial loans for the first quarter of 2024 and fourth, third and second 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)
	Second Quarter 2024				First Quarter 2024				Fourth Quarter 2023				Third Quarter 2023				Second Quarter 2023
	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	—	—	%	$	3	0.01	%	$	11	0.02	%	$	2	—	%	$	2	—	%
Home equity	(14)		(0.23)		(13)		(0.20)		(17)		(0.26)		(14)		(0.22)		(16)		(0.25)
Credit card	955		3.88		899		3.62		777		3.07		673		2.72		610		2.60

Direct/Indirect consumer	51		0.20		65		0.26		49		0.19		25		0.10		17		0.06
Other consumer	67		n/m		74		n/m		93		n/m		118		n/m		107		n/m
Total consumer	1,059		0.93		1,028		0.91		913		0.79		804		0.70		720		0.64
U.S. commercial	87		0.10		66		0.07		67		0.07		5		0.01		5		0.01
Non-U.S. commercial	(3)		(0.01)		(9)		(0.03)		1		—		(2)		(0.01)		—		—
Total commercial and industrial	84		0.07		57		0.05		68		0.06		3		—		5		—
Commercial real estate	272		1.53		304		1.70		115		0.62		39		0.21		69		0.37
Commercial lease financing	—		—		1		0.03		(1)		—		3		0.08		1		—
	356		0.25		362		0.26		182		0.13		45		0.03		75		0.05
U.S. small business commercial	118		2.35		108		2.22		97		1.99		82		1.74		74		1.62
Total commercial	474		0.32		470		0.32		279		0.19		127		0.09		149		0.10
Total net charge-offs	$	1,533	0.59		$	1,498	0.58		$	1,192	0.45		$	931	0.35		$	869	0.33

By Business Segment and All Other
Consumer Banking	$	1,188	1.53	%	$	1,144	1.47	%	$	1,023	1.30	%	$	911	1.16	%	$	819	1.07	%
Global Wealth & Investment Management	11		0.02		17		0.03		12		0.02		4		0.01		3		0.01
Global Banking	346		0.38		350		0.38		160		0.17		20		0.02		59		0.06
Global Markets	2		0.01		—		—		8		0.02		13		0.04		5		0.02
All Other	(14)		(0.66)		(13)		(0.59)		(11)		(0.48)		(17)		(0.68)		(17)		(0.74)
Total net charge-offs	$	1,533	0.59		$	1,498	0.58		$	1,192	0.45		$	931	0.35		$	869	0.33

(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)
	Six Months Ended June 30
	2024				2023
	Amount		Percent		Amount		Percent
Net Charge-offs
Residential mortgage	$	3	—	%	$	3	—	%
Home equity	(27)		(0.21)		(28)		(0.21)
Credit card	1,854		3.75		1,111		2.41

Direct/Indirect consumer	116		0.23		18		0.03
Other consumer	141		n/m		269		n/m
Total consumer	2,087		0.92		1,373		0.61
U.S. commercial	153		0.08		52		0.03
Non-U.S. commercial	(12)		(0.02)		20		0.03
Total commercial and industrial	141		0.06		72		0.03
Commercial real estate	576		1.62		91		0.25
Commercial lease financing	1		0.01		—		—
	718		0.25		163		0.06
U.S. small business commercial	226		2.28		140		1.55
Total commercial	944		0.32		303		0.10
Total net charge-offs	$	3,031	0.58		$	1,676	0.33

By Business Segment and All Other
Consumer Banking	$	2,332	1.50	%	$	1,548	1.02	%
Global Wealth & Investment Management	28		0.03		9		0.01
Global Banking	696		0.38		146		0.08
Global Markets	2		—		5		0.01
All Other	(27)		(0.62)		(32)		(0.66)
Total net charge-offs	$	3,031	0.58		$	1,676	0.33

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)
	June 30, 2024		March 31, 2024			June 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	$	283	0.12%	$	292		0.13%	$	366	0.16%
Home equity	64		0.25	63			0.25	61		0.24
Credit card	7,341		7.38	7,296			7.41	6,564		6.77

Direct/Indirect consumer	751		0.72	751			0.73	659		0.63
Other consumer	75		n/m	74			n/m	100		n/m
Total consumer	8,514		1.86	8,476			1.87	7,750		1.70
U.S. commercial (2)	2,586		0.66	2,596			0.68	2,846		0.75
Non-U.S. commercial	822		0.67	812			0.66	968		0.78
Commercial real estate	1,279		1.82	1,292			1.80	1,338		1.80
Commercial lease financing	37		0.25	37			0.25	48		0.35
Total commercial	4,724		0.79	4,737			0.80	5,200		0.88
Allowance for loan and lease losses	13,238		1.26	13,213			1.26	12,950		1.24


Reserve for unfunded lending commitments	1,104			1,158				1,388
Allowance for credit losses	$	14,342		$	14,371			$	14,338

Asset Quality Indicators

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

Allowance for loan and lease losses/Total nonperforming loans and leases			242				225			314

Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.15				2.19			3.71

(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, $1.1 billion and $927 million at June 30, 2024, March 31, 2024 and June 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 six months ended June 30, 2024 and 2023, and the three months ended June 30, 2024, March 31, 2024, December 31, 2023, September 30, 2023 and June 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.


	Six Months Ended June 30				Second Quarter 2024		First Quarter 2024		Fourth Quarter 2023		Third Quarter 2023		Second Quarter 2023
	2024		2023





























Reconciliation of income before income taxes to pretax, pre-provision income
Income before income taxes	$	14,822	$	17,123	$	7,560	$	7,262	$	3,124	$	8,095	$	8,034
Provision for credit losses	2,827		2,056		1,508		1,319		1,104		1,234		1,125
Pretax, pre-provision income	$	17,649	$	19,179	$	9,068	$	8,581	$	4,228	$	9,329	$	9,159

Reconciliation of average shareholders’ equity to average tangible shareholders’ equity and average tangible common shareholders’ equity
Shareholders’ equity	$	292,957	$	279,853	$	293,403	$	292,511	$	288,618	$	284,975	$	282,425
Goodwill	(69,021)		(69,022)		(69,021)		(69,021)		(69,021)		(69,021)		(69,022)
Intangible assets (excluding mortgage servicing rights)	(1,980)		(2,058)		(1,971)		(1,990)		(2,010)		(2,029)		(2,049)
Related deferred tax liabilities	871		897		869		874		886		890		895
Tangible shareholders’ equity	$	222,827	$	209,670	$	223,280	$	222,374	$	218,473	$	214,815	$	212,249
Preferred stock	(28,255)		(28,397)		(28,113)		(28,397)		(28,397)		(28,397)		(28,397)
Tangible common shareholders’ equity	$	194,572	$	181,273	$	195,167	$	193,977	$	190,076	$	186,418	$	183,852








Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity and period-end tangible common shareholders’ equity
Shareholders’ equity	$	293,892	$	283,319	$	293,892	$	293,552	$	291,646	$	287,064	$	283,319
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,958)		(2,036)		(1,958)		(1,977)		(1,997)		(2,016)		(2,036)
Related deferred tax liabilities	864		890		864		869		874		886		890
Tangible shareholders’ equity	$	223,777	$	213,152	$	223,777	$	223,423	$	221,502	$	216,913	$	213,152
Preferred stock	(26,548)		(28,397)		(26,548)		(28,397)		(28,397)		(28,397)		(28,397)
Tangible common shareholders’ equity	$	197,229	$	184,755	$	197,229	$	195,026	$	193,105	$	188,516	$	184,755

Reconciliation of period-end assets to period-end tangible assets
Assets	$	3,257,996	$	3,123,198	$	3,257,996	$	3,273,803	$	3,180,151	$	3,153,090	$	3,123,198
Goodwill	(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)		(69,021)
Intangible assets (excluding mortgage servicing rights)	(1,958)		(2,036)		(1,958)		(1,977)		(1,997)		(2,016)		(2,036)
Related deferred tax liabilities	864		890		864		869		874		886		890
Tangible assets	$	3,187,881	$	3,053,031	$	3,187,881	$	3,203,674	$	3,110,007	$	3,082,939	$	3,053,031

Book value per share of common stock
Common shareholders’ equity	$	267,344	$	254,922	$	267,344	$	265,155	$	263,249	$	258,667	$	254,922
Ending common shares issued and outstanding	7,774.8		7,953.6		7,774.8		7,866.9		7,895.5		7,923.4		7,953.6
Book value per share of common stock	$	34.39	$	32.05	$	34.39	$	33.71	$	33.34	$	32.65	$	32.05

Tangible book value per share of common stock
Tangible common shareholders’ equity	$	197,229	$	184,755	$	197,229	$	195,026	$	193,105	$	188,516	$	184,755
Ending common shares issued and outstanding	7,774.8		7,953.6		7,774.8		7,866.9		7,895.5		7,923.4		7,953.6
Tangible book value per share of common stock	$	25.37	$	23.23	$	25.37	$	24.79	$	24.46	$	23.79	$	23.23


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

Cover Page	Jul. 16, 2024
Document Information [Line Items]
Document Type	8-K
Document Period End Date	Jul. 16, 2024
Entity Registrant Name	BANK OF AMERICA CORPORATION
Entity Incorporation, State or Country Code	DE
Entity File Number	1-6523
Entity Tax Identification Number	56-0906609
Entity Address, Address Line One	100 North Tryon Street
Entity Address, City or Town	Charlotte
Entity Address, State or Province	NC
Entity Address, Postal Zip Code	28255
City Area Code	704
Local Phone Number	386-5681
Written Communications	false
Soliciting Material	false
Pre-commencement Tender Offer	false
Pre-commencement Issuer Tender Offer	false
Entity Emerging Growth Company	false
Entity Central Index Key	0000070858
Amendment Flag	false
Common Stock, par value $0.01 per share
Document Information [Line Items]
Title of 12(b) Security	Common Stock, par value $0.01 per share
Trading Symbol	BAC
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series E
Trading Symbol	BAC PrE
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GG
Trading Symbol	BAC PrB
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, HH
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HH
Trading Symbol	BAC PrK
Security Exchange Name	NYSE
7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L
Document Information [Line Items]
Title of 12(b) Security	7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L
Trading Symbol	BAC PrL
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 1
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share of
Trading Symbol	BML PrG
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 2
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share of
Trading Symbol	BML PrH
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 4
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share of
Trading Symbol	BML PrJ
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,200th interest in a share of Bank of America Corporation Floating Rate Non-Cumulative Preferred Stock, Series 5
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,200th interest in a share of
Trading Symbol	BML PrL
Security Exchange Name	NYSE
Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)
Document Information [Line Items]
Title of 12(b) Security	Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)
Trading Symbol	BAC/PF
Security Exchange Name	NYSE
5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)
Document Information [Line Items]
Title of 12(b) Security	5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)
Trading Symbol	BAC/PG
Security Exchange Name	NYSE
Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation
Document Information [Line Items]
Title of 12(b) Security	Income Capital Obligation Notes initially due December 15, 2066 of Bank of America Corporation
Trading Symbol	MER PrK
Security Exchange Name	NYSE
Senior Medium-Term Notes, Series A, Step Up Callable Notes, due November 28, 2031 of BofA Finance LLC (and the guarantee of the Registrant with respect thereto)
Document Information [Line Items]
Title of 12(b) Security	Senior Medium-Term Notes, Series A, Step Up Callable Notes, due
Trading Symbol	BAC/31B
Security Exchange Name	NYSE
Depositary Shares, each representing 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock, Series KK
Trading Symbol	BAC PrM
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 5.000% Non-Cumulative Preferred Stock, Series LL
Trading Symbol	BAC PrN
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 4.375% Non-Cumulative Preferred Stock, Series NN
Trading Symbol	BAC PrO
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 4.125% Non-Cumulative Preferred Stock, Series PP
Trading Symbol	BAC PrP
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 4.250% Non-Cumulative Preferred Stock, Series QQ
Trading Symbol	BAC PrQ
Security Exchange Name	NYSE
Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS
Document Information [Line Items]
Title of 12(b) Security	Depositary Shares, each representing a 1/1,000th interest in a share of 4.750% Non-Cumulative Preferred Stock, Series SS
Trading Symbol	BAC PrS
Security Exchange Name	NYSE

Bank of America (NYSE:BML-L)
Historical Stock Chart
From Jun 2024 to Jul 2024

Click Here for more Bank of America Charts.

Bank of America (NYSE:BML-L)
Historical Stock Chart
From Jul 2023 to Jul 2024

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BML-L Bank of America Corporation

Bank of America Corporation News

Your Recent History

Company

Business

Popular

Get The App

Trending Now

Toplists

Market Data

News

Trading Tools

Markets

Discover

Hot Features

Follow Feed

Options Flow

Monitor

BML-L Bank of America Corporation

Bank of America Corporation News

Your Recent History

Company

Business

Popular

Get The App