Q2 2026 Earnings

Reported July 14, 2026

Quarter Comparison

Revenue

Net Margin

Income Statement

Cash Flow Statement

Balance Sheet

Operating metrics disclosed this quarter

Read from the filing itself — XBRL does not carry these, so no standard financial dataset has them.

GWIM Assets Under Management
$2327.77B
Client Balances by Business, at period end Merrill Wealth Management | $ | 4,132,451 | $ | 3,695,213 Bank of America Private Bank | 801,945 | 700,018 Total client balances | $ | 4,934,396 | $ | 4,395,231 Client Balances by Type, at period end Assets under management | $ | 2,327,766 | $ | 1,986,523 Brokerage and other assets | 2,094,157 | 1,932,182 Deposits | 278,155 | 275,778 Loans and leases (1) | 279,618 | 243,409 Less: Managed deposits in assets under management | (45,300) | (42,661) Total client balances | $ | 4,934,396 | $ | 4,395,231 Assets Under Management Rollforward Assets under management, beginning of period | $ | 2,115,782 | $ | 1,855,657 | $ | 2,177,708 | $ | 1,882,211 Net client flows | 13,673 | 14,314 | 34,045 | 38,271 Market valuation/other | 198,311 | 116,552 | 116,013 | 66,041 Total assets under management, end of period | $ | 2,327,766 | $ | 1,986,523 | $ | 2,327,766 | $ | 1,986,523
CET1 Capital Ratio - Standardized Approach
11.2%
Table 8 | Bank of America Corporation Regulatory Capital under Basel 3 StandardizedApproach | AdvancedApproaches | RegulatoryMinimum (1) (Dollars in millions, except as noted) | June 30, 2026 Risk-based capital metrics: Common equity tier 1 capital | $ | 201,581 | $ | 201,581 Tier 1 capital | 226,568 | 226,568 Total capital (2) | 262,752 | 252,284 Risk-weighted assets (in billions) | 1,792 | 1,613 Common equity tier 1 capital ratio | 11.2 | % | 12.5 | % | 10.0 | % Tier 1 capital ratio | 12.6 | 14.0 | 11.5 Total capital ratio | 14.7 | 15.6 | 13.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (3) | $ | 3,452 | $ | 3,452 Tier 1 leverage ratio | 6.6 | % | 6.6 | % | 4.0 Supplementary leverage exposure (in billions) | $ | 4,122 Supplementary leverage ratio | 5.5 | % | 3.75
Supplementary Leverage Ratio
5.5%
Table 8 | Bank of America Corporation Regulatory Capital under Basel 3 StandardizedApproach | AdvancedApproaches | RegulatoryMinimum (1) (Dollars in millions, except as noted) | June 30, 2026 Risk-based capital metrics: Common equity tier 1 capital | $ | 201,581 | $ | 201,581 Tier 1 capital | 226,568 | 226,568 Total capital (2) | 262,752 | 252,284 Risk-weighted assets (in billions) | 1,792 | 1,613 Common equity tier 1 capital ratio | 11.2 | % | 12.5 | % | 10.0 | % Tier 1 capital ratio | 12.6 | 14.0 | 11.5 Total capital ratio | 14.7 | 15.6 | 13.5 Leverage-based metrics: Adjusted quarterly average assets (in billions) (3) | $ | 3,452 | $ | 3,452 Tier 1 leverage ratio | 6.6 | % | 6.6 | % | 4.0 Supplementary leverage exposure (in billions) | $ | 4,122 Supplementary leverage ratio | 5.5 | % | 3.75

Earnings Release

Bank of America Reports 2Q26 Net Income of $9.1 Billion; EPS of $1.21, Up 34% YoY 2Q26 Revenue Up 15% YoY to $31.6 Billion,1 Net Interest Income Up 9% YoY to $16.0 Billion ($16.2 Billion FTE)(A) Operating Leverage of 6.6%2 See page 10 for endnotes.

EX-99.1 2 bac06302026ex991.htm THE PRESS RELEASE bac06302026ex991 1 2Q26 Financial Highlights3(B) 2Q26 Business Segment Highlights1,3,4(B) Consumer Banking • Net income of $3.3 billion • Revenue of $11.3 billion, up 5% • Average deposits of $957 billion were up 1% and up 33% from pre- pandemic levels (4Q19); #1 in U.S. Consumer Deposits5 • Average loans and leases of $321 billion, up $2 billion, or 1% • #1 Small Business Lender for 20 consecutive quarters5 • Combined credit / debit card spend of $266 billion, up 9% • Client Highlights – Added 160K+ net new consumer checking accounts; completed 30 consecutive quarters of net growth – 38.7 million consumer checking accounts; 92% are primary6 – 4+ million small business checking accounts – $640 billion in consumer investment assets, up 18%7 – $1.2 trillion in payments, up 5%8 – 13.3 million clients enrolled in BofA Rewards; ~2 million new e...

Source

Exhibit EX-99.1

0000070858-26-000353

Filed July 14, 2026 at 10:45 AM UTC. The figures above are from the audited statements, not from this release.

Credit Card Gross Interest Yield

11.4%

Key Statistics Three Months Ended June 30 | Six Months Ended June 30 (Dollars in millions) | 2026 | 2025 | 2026 | 2025 Deposit Spreads Total deposit spreads (excludes noninterest costs) | 3.08% | 2.91% | 3.05% | 2.88% Period end Consumer investment assets (in millions) (1) | $ | 639,517 | $ | 539,727 Active digital banking users (in thousands) (2) | 49,834 | 48,998 Active mobile banking users (in thousands) (3) | 42,056 | 40,840 Financial centers | 3,530 | 3,664 ATMs | 14,939 | 14,904 Credit and Debit Card Total credit card (4) Gross interest yield (5) | 11.36 | % | 12.06 | % | 11.49 | % | 12.09 | % Risk-adjusted margin (6) | 6.47 | 7.07 | 6.58 | 6.88 New accounts (in thousands) | 999 | 834 | 1,883 | 1,747 Purchase volumes | $ | 101,877 | $ | 94,814 | $ | 194,849 | $ | 183,022 Debit card purchase volumes | 164,189 | 149,288 | 316,123 | 289,485 Loan Production (7) Consumer Banking: First mortgage | $ | 3,497 | $ | 3,052 | $ | 6,563 | $ | 4,909 Home equity | 2,404 | 2,241 | 4,404 | 4,075

Credit Card Risk-adjusted Margin

6.5%

Consumer Investment Assets

$639.52B

GWIM Brokerage and Other Assets

$2094.16B

Client Balances by Business, at period end Merrill Wealth Management | $ | 4,132,451 | $ | 3,695,213 Bank of America Private Bank | 801,945 | 700,018 Total client balances | $ | 4,934,396 | $ | 4,395,231 Client Balances by Type, at period end Assets under management | $ | 2,327,766 | $ | 1,986,523 Brokerage and other assets | 2,094,157 | 1,932,182 Deposits | 278,155 | 275,778 Loans and leases (1) | 279,618 | 243,409 Less: Managed deposits in assets under management | (45,300) | (42,661) Total client balances | $ | 4,934,396 | $ | 4,395,231 Assets Under Management Rollforward Assets under management, beginning of period | $ | 2,115,782 | $ | 1,855,657 | $ | 2,177,708 | $ | 1,882,211 Net client flows | 13,673 | 14,314 | 34,045 | 38,271 Market valuation/other | 198,311 | 116,552 | 116,013 | 66,041 Total assets under management, end of period | $ | 2,327,766 | $ | 1,986,523 | $ | 2,327,766 | $ | 1,986,523

GWIM Total Client Balances

$4934.40B

GWIM Net Client Flows

$13.67B

Allowance for Loan and Lease Losses to Total Loans

1.1%

Loan and allowance ratios (3): Loans and leases outstanding at June 30 | $ | 1,214,260 | $ | 1,140,193 | $ | 1,214,260 | $ | 1,140,193 Allowance for loan and lease losses as a percentage of total loans and leases outstanding at June 30 | 1.08 | % | 1.17 | % | 1.08 | % | 1.17 | % Consumer allowance for loan and lease losses as a percentage of total consumer loans and leases outstanding at June 30 | 1.69 | 1.82 | 1.69 | 1.82 Commercial allowance for loan and lease losses as a percentage of total commercial loans and leases outstanding at June 30 | 0.67 | 0.71 | 0.67 | 0.71 Average loans and leases outstanding | $ | 1,212,888 | $ | 1,120,764 | $ | 1,199,481 | $ | 1,105,318 Annualized net charge-offs as a percentage of average loans and leases outstanding | 0.47 | % | 0.55 | % | 0.47 | % | 0.54 | % Allowance for loan and lease losses as a percentage of total nonperforming loans and leases at June 30 | 228 | 222 | 228 | 222 Ratio of the allowance for loan and lease losses at June 30 to annualized net charge-offs | 2.32 | 2.17 | 2.31 | 2.21

Allowance to Nonperforming Loans

228.0%

Annualized Net Charge-off Ratio

0.5%

Commercial Net Charge-off Ratio

0.2%

Table 28 | Commercial Net Charge-offs and Related Ratios Net Charge-offs | Net Charge-off Ratios (1) Three Months EndedJune 30 | Six Months EndedJune 30 | Three Months EndedJune 30 | Six Months EndedJune 30 (Dollars in millions) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 Commercial and industrial: U.S. commercial | $ | 180 | $ | 129 | $ | 312 | $ | 199 | 0.16 | % | 0.13 | % | 0.14 | % | 0.10 | % Non-U.S. commercial | 53 | — | 60 | 7 | 0.13 | — | 0.08 | 0.01 Total commercial and industrial | 233 | 129 | 372 | 206 | 0.15 | 0.09 | 0.12 | 0.08 Commercial real estate | 2 | 202 | 58 | 325 | 0.01 | 1.24 | 0.17 | 1.00 Commercial lease financing | — | 1 | 12 | 1 | — | 0.02 | 0.14 | 0.01 235 | 332 | 442 | 532 | 0.13 | 0.21 | 0.13 | 0.17 U.S. small business commercial | 137 | 134 | 280 | 267 | 2.35 | 2.48 | 2.45 | 2.52 Total commercial | $ | 372 | $ | 466 | $ | 722 | $ | 799 | 0.20 | 0.29 | 0.20 | 0.25

Commercial Nonperforming Loan Ratio

0.4%

Table 31 | Nonperforming Commercial Loans, Leases and Foreclosed Properties Activity (1, 2) Three Months EndedJune 30 | Six Months EndedJune 30 (Dollars in millions) | 2026 | 2025 | 2026 | 2025 Nonperforming loans and leases, beginning of period | $ | 3,151 | $ | 3,470 | $ | 3,228 | $ | 3,328 Additions | 680 | 1,105 | 1,345 | 1,749 Reductions: Paydowns | (205) | (484) | (483) | (759) Sales | (126) | (107) | (351) | (107) Returns to performing status (3) | (71) | (219) | (73) | (228) Charge-offs | (254) | (348) | (491) | (566) Transfers to foreclosed properties | (14) | — | (14) | — Total net (reductions) additions to nonperforming loans and leases | 10 | (53) | (67) | 89 Total nonperforming loans and leases, June 30 | 3,161 | 3,417 | 3,161 | 3,417 Foreclosed properties, June 30 | 22 | 29 | 22 | 29 Nonperforming commercial loans, leases and foreclosed properties, June 30 | $ | 3,183 | $ | 3,446 | $ | 3,183 | $ | 3,446 Nonperforming commercial loans and leases as a percentage of outstanding commercial loans and leases (4) | 0.43 | % | 0.51 | % Nonperforming commercial loans, leases and foreclosed properties as a percentage of outstanding commercial loans, leases and foreclosed properties (4) | 0.44 | 0.52

Consumer Loans 90+ Days Past Due Ratio

0.3%

Table 17 | Consumer Credit Quality Outstandings | Nonperforming | Accruing Past Due90 Days or More (Dollars in millions) | June 302026 | December 312025 | June 302026 | December 312025 | June 302026 | December 312025 Residential mortgage (1) | $ | 236,316 | $ | 236,302 | $ | 2,049 | $ | 2,008 | $ | 219 | $ | 207 Home equity | 27,114 | 26,823 | 371 | 392 | — | — Credit card | 105,659 | 106,027 | n/a | n/a | 1,241 | 1,351 Direct/Indirect consumer (2) | 118,327 | 114,130 | 170 | 176 | 1 | 5 Other consumer | 182 | 144 | — | — | — | — Consumer loans excluding loans accounted for under the fair value option | $ | 487,598 | $ | 483,426 | $ | 2,590 | $ | 2,576 | $ | 1,461 | $ | 1,563 Loans accounted for under the fair value option (3) | 159 | 165 Total consumer loans and leases | $ | 487,757 | $ | 483,591 Percentage of outstanding consumer loans and leases (4) | n/a | n/a | 0.53 | % | 0.53 | % | 0.30 | % | 0.32 | % Percentage of outstanding consumer loans and leases, excluding fully-insured loan portfolios (4) | n/a | n/a | 0.54 | 0.54 | 0.26 | 0.29 Table 18 | Consumer Net Charge-offs and Related Ratios Net Charge-offs (1) | Net Charge-off Ratios (1) Three Months EndedJune 30 | Six Months EndedJune 30 | Three Months EndedJune 30 | Six Months EndedJune 30 (Dollars in millions) | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 | 2026 | 2025 Residential mortgage | $ | 1 | $ | 2 | $ | 6 | $ | 2 | — | % | — | % | — | % | — | % Home equity | (6) | (10) | (13) | (22) | (0.09) | (0.15) | (0.09) | (0.17) Credit card | 919 | 954 | 1,843 | 1,955 | 3.55 | 3.82 | 3.59 | 3.94

Consumer Nonperforming Loan Ratio

0.5%

Table 25 | Nonperforming Consumer Loans, Leases and Foreclosed Properties Activity Three Months EndedJune 30 | Six Months EndedJune 30 (Dollars in millions) | 2026 | 2025 | 2026 | 2025 Nonperforming loans and leases, beginning of period | $ | 2,680 | $ | 2,613 | $ | 2,576 | $ | 2,647 Additions | 305 | 264 | 700 | 506 Reductions: Paydowns and payoffs | (135) | (132) | (253) | (243) Sales | (87) | (1) | (87) | (2) Returns to performing status (1) | (156) | (157) | (306) | (311) Charge-offs | (12) | (13) | (27) | (18) Transfers to foreclosed properties | (5) | (10) | (13) | (15) Total net additions (reductions) to nonperforming loans and leases | (90) | (49) | 14 | (83) Total nonperforming loans and leases, June 30 | 2,590 | 2,564 | 2,590 | 2,564 Foreclosed properties, June 30 | 97 | 94 | 97 | 94 Nonperforming consumer loans, leases and foreclosed properties, June 30 | $ | 2,687 | $ | 2,658 | $ | 2,687 | $ | 2,658 Nonperforming consumer loans and leases as a percentage of outstanding consumer loans and leases (2) | 0.53 | % | 0.54 | % Nonperforming consumer loans, leases and foreclosed properties as a percentage of outstanding consumer loans, leases and foreclosed properties (2) | 0.55 | 0.56

Credit Card Net Charge-off Ratio

3.5%

New Credit Card Accounts

999.0K

Consumer Total Deposit Spread

3.1%

Net Interest Yield on Earning Assets, FTE

2.1%

Table 6 | Quarterly Average Balances and Interest Rates - FTE Basis AverageBalance | InterestIncome/Expense (1) | Yield/Rate | AverageBalance | InterestIncome/Expense (1) | Yield/Rate (Dollars in millions) | Second Quarter 2026 | Second Quarter 2025 Earning assets Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks | $ | 254,700 | $ | 2,215 | 3.49 | % | $ | 274,839 | $ | 2,843 | 4.15 | % Time deposits placed and other short-term investments | 11,839 | 93 | 3.15 | 10,405 | 89 | 3.43 Federal funds sold and securities borrowed or purchased under agreements to resell | 373,297 | 4,185 | 4.50 | 353,331 | 4,094 | 4.65 Trading account assets | 240,768 | 3,097 | 5.16 | 234,282 | 3,081 | 5.27 Debt securities | 880,724 | 6,051 | 2.74 | 933,065 | 6,932 | 2.96 Loans and leases (2) Residential mortgage | 236,187 | 2,106 | 3.57 | 235,130 | 2,031 | 3.46 Home equity | 27,099 | 370 | 5.48 | 26,190 | 379 | 5.80 Credit card | 103,640 | 2,794 | 10.81 | 100,013 | 2,846 | 11.41 Direct/Indirect and other consumer | 116,455 | 1,484 | 5.11 | 108,955 | 1,484 | 5.47 Total consumer | 483,381 | 6,754 | 5.60 | 470,288 | 6,740 | 5.74 U.S. commercial | 482,510 | 6,034 | 5.01 | 427,194 | 5,709 | 5.36 Non-U.S. commercial | 164,502 | 1,940 | 4.73 | 149,044 | 2,016 | 5.42 Commercial real estate (3) | 70,280 | 985 | 5.62 | 65,847 | 1,023 | 6.23 Commercial lease financing | 15,846 | 200 | 5.06 | 16,080 | 214 | 5.33 Total commercial | 733,138 | 9,159 | 5.01 | 658,165 | 8,962 | 5.46 Total loans and leases | 1,216,519 | 15,913 | 5.24 | 1,128,453 | 15,702 | 5.58 Other earning assets | 128,879 | 2,441 | 7.60 | 115,831 | 2,277 | 7.89 Total earning assets | 3,106,726 | 33,995 | 4.39 | 3,050,206 | 35,018 | 4.60 Cash and due from banks | 26,656 | 24,781 Other assets, less allowance for loan and lease losses | 398,186 | 355,293 Total assets | $ | 3,531,568 | $ | 3,430,280 Interest-bearing liabilities U.S. interest-bearing deposits Demand and money market deposits | $ | 1,108,939 | $ | 5,042 | 1.82 | % | $ | 1,078,771 | $ | 5,739 | 2.13 | % Time and savings deposits | 254,022 | 1,661 | 2.62 | 259,261 | 1,998 | 3.09 Total U.S. interest-bearing deposits | 1,362,961 | 6,703 | 1.97 | 1,338,032 | 7,737 | 2.32 Non-U.S. interest-bearing deposits | 126,738 | 669 | 2.11 | 121,921 | 944 | 3.11 Total interest-bearing deposits | 1,489,699 | 7,372 | 1.98 | 1,459,953 | 8,681 | 2.38 Federal funds purchased and securities loaned or sold under agreements to repurchase | 353,243 | 4,135 | 4.70 | 414,655 | 4,946 | 4.78 Short-term borrowings and other interest-bearing liabilities | 228,651 | 2,472 | 4.34 | 183,008 | 2,489 | 5.45 Trading account liabilities | 57,026 | 756 | 5.32 | 53,805 | 676 | 5.04 Long-term debt | 256,197 | 3,100 | 4.85 | 249,104 | 3,411 | 5.49 Total interest-bearing liabilities | 2,384,816 | 17,835 | 3.00 | 2,360,525 | 20,203 | 3.43 Noninterest-bearing sources Noninterest-bearing deposits | 533,251 | 513,808 Other liabilities (4) | 312,517 | 260,618 Shareholders’ equity | 300,984 | 295,329 Total liabilities and shareholders’ equity | $ | 3,531,568 | $ | 3,430,280 Net interest spread | 1.39 | % | 1.17 | % Impact of noninterest-bearing sources | 0.69 | 0.77 Net interest income/yield on earning assets (5) | $ | 16,160 | 2.08 | % | $ | 14,815 | 1.94 | %

Active Digital Banking Users

49.8M

Active Mobile Banking Users

42.1M

ATMs

14.9K

Financial Centers

3.5K

Average Trading Positions Portfolio VaR - 99%

$49.0M

Table 38 | Market Risk VaR for Trading Activities Three Months Ended | Six Months Ended June 30 June 30, 2026 | March 31, 2026 | June 30, 2025 (Dollars in millions) | PeriodEnd | Average | High (1) | Low (1) | PeriodEnd | Average | High (1) | Low (1) | PeriodEnd | Average | High (1) | Low (1) | 2026 Average | 2025 Average Foreign exchange | $ | 13 | $ | 16 | $ | 32 | $ | 8 | $ | 8 | $ | 14 | $ | 22 | $ | 8 | $ | 25 | $ | 17 | $ | 25 | $ | 11 | $ | 15 | $ | 17 Interest rate | 36 | 35 | 50 | 27 | 30 | 30 | 49 | 19 | 51 | 55 | 90 | 40 | 33 | 59 Credit | 49 | 39 | 50 | 31 | 36 | 38 | 56 | 29 | 49 | 51 | 63 | 42 | 39 | 53 Mortgage | 20 | 21 | 26 | 18 | 26 | 28 | 31 | 22 | 29 | 36 | 43 | 29 | 24 | 35 Equity | 36 | 33 | 50 | 24 | 27 | 30 | 66 | 20 | 22 | 22 | 63 | 13 | 32 | 23 Commodities | 13 | 13 | 17 | 8 | 11 | 15 | 22 | 9 | 8 | 9 | 12 | 7 | 14 | 10 Portfolio diversification | (122) | (108) | n/a | n/a | (92) | (108) | n/a | n/a | (108) | (106) | n/a | n/a | (109) | (110) Total trading positions portfolio VaR | 45 | 49 | 66 | 38 | 46 | 47 | 74 | 38 | 76 | 84 | 102 | 65 | 48 | 87 Fair value option loans | 18 | 22 | 33 | 16 | 21 | 17 | 23 | 14 | 15 | 21 | 27 | 15 | 19 | 24 Fair value option hedges | 14 | 14 | 24 | 10 | 11 | 9 | 13 | 6 | 12 | 15 | 18 | 12 | 11 | 17 Fair value option portfolio diversification | (22) | (25) | n/a | n/a | (19) | (13) | n/a | n/a | (18) | (24) | n/a | n/a | (18) | (27) Total fair value option portfolio | 10 | 11 | 13 | 9 | 13 | 13 | 14 | 12 | 9 | 12 | 16 | 8 | 12 | 14 Portfolio diversification | (7) | (8) | n/a | n/a | (10) | (8) | n/a | n/a | (6) | (7) | n/a | n/a | (8) | (7) Total market-based portfolio | $ | 48 | $ | 52 | 69 | 43 | $ | 49 | $ | 52 | 77 | 43 | $ | 79 | $ | 89 | 111 | 72 | $ | 52 | $ | 94 41 Bank of America Table 39 | Average Market Risk VaR for Trading Activities – 99 percent and 95 percent VaR Statistics Three Months Ended June 30, 2026 | March 31, 2026 | June 30, 2025 (Dollars in millions) | 99 percent | 95 percent | 99 percent | 95 percent | 99 percent | 95 percent Foreign exchange | $ | 16 | $ | 8 | $ | 14 | $ | 7 | $ | 17 | $ | 10 Interest rate | 35 | 18 | 30 | 17 | 55 | 26 Credit | 39 | 16 | 38 | 14 | 51 | 24 Mortgage | 21 | 12 | 28 | 14 | 36 | 18 Equity | 33 | 15 | 30 | 14 | 22 | 11 Commodities | 13 | 5 | 15 | 8 | 9 | 6 Portfolio diversification | (108) | (51) | (108) | (51) | (106) | (60) Total trading positions portfolio VaR | 49 | 23 | 47 | 23 | 84 | 35

Trading Positions Portfolio VaR - Period End

$45.0M

Consumer Banking First Mortgage Production

$3.50B

Consumer Banking Home Equity Production

$2.40B

Credit Card Purchase Volume

$101.88B

Debit Card Purchase Volume

$164.19B

Consumer Banking Efficiency Ratio

51.2%

Three Months Ended June 30 | Six Months Ended June 30 (Dollars in millions) | 2026 | 2025 | % Change | 2026 | 2025 | % Change Net interest income | $ | 9,206 | $ | 8,726 | 6 | % | $ | 18,199 | $ | 17,231 | 6 | % Noninterest income: Card income | 1,346 | 1,415 | (5) | 2,619 | 2,712 | (3) Service charges | 639 | 627 | 2 | 1,277 | 1,245 | 3 All other income | 145 | 45 | n/m | 290 | 118 | 146 Total noninterest income | 2,130 | 2,087 | 2 | 4,186 | 4,075 | 3 Total revenue, net of interest expense | 11,336 | 10,813 | 5 | 22,385 | 21,306 | 5 Provision for credit losses | 1,160 | 1,282 | (10) | 2,292 | 2,574 | (11) Noninterest expense | 5,801 | 5,567 | 4 | 11,638 | 11,393 | 2 Income before income taxes | 4,375 | 3,964 | 10 | 8,455 | 7,339 | 15 Income tax expense | 1,094 | 991 | 10 | 2,114 | 1,835 | 15 Net income | $ | 3,281 | $ | 2,973 | 10 | $ | 6,341 | $ | 5,504 | 15 Effective tax rate | 25.0 | % | 25.0 | % | 25.0 | % | 25.0 | % Net interest yield | 3.68 | 3.51 | 3.67 | 3.49 Efficiency ratio | 51.18 | 51.48 | 51.99 | 53.48 Return on average allocated capital | 29 | 27 | 28 | 25

Consumer Banking Net Interest Yield

3.7%

Consumer Banking Return on Average Allocated Capital

29.0%

GWIM Efficiency Ratio

72.4%

Three Months Ended June 30 | Six Months Ended June 30 (Dollars in millions) | 2026 | 2025 | % Change | 2026 | 2025 | % Change Net interest income | $ | 1,888 | $ | 1,762 | 7 | % | $ | 3,750 | $ | 3,527 | 6 | % Noninterest income: Investment and brokerage services | 4,793 | 4,033 | 19 | 9,464 | 8,122 | 17 All other income | 190 | 142 | 34 | 369 | 304 | 21 Total noninterest income | 4,983 | 4,175 | 19 | 9,833 | 8,426 | 17 Total revenue, net of interest expense | 6,871 | 5,937 | 16 | 13,583 | 11,953 | 14 Provision for credit losses | 11 | 20 | (45) | 13 | 34 | (62) Noninterest expense | 4,976 | 4,593 | 8 | 9,914 | 9,252 | 7 Income before income taxes | 1,884 | 1,324 | 42 | 3,656 | 2,667 | 37 Income tax expense | 471 | 331 | 42 | 914 | 667 | 37 Net income | $ | 1,413 | $ | 993 | 42 | $ | 2,742 | $ | 2,000 | 37 Effective tax rate | 25.0 | % | 25.0 | % | 25.0 | % | 25.0 | % Net interest yield | 2.42 | 2.31 | 2.39 | 2.28 Efficiency ratio | 72.41 | 77.36 | 72.99 | 77.40 Return on average allocated capital | 26 | 20 | 25 | 21

GWIM Net Interest Yield

2.4%

GWIM Return on Average Allocated Capital

26.0%

Global Banking Efficiency Ratio

51.3%

Three Months Ended June 30 | Six Months Ended June 30 (Dollars in millions) | 2026 | 2025 | % Change | 2026 | 2025 | % Change Net interest income | $ | 3,198 | $ | 3,081 | 4 | % | $ | 6,428 | $ | 6,232 | 3 | % Noninterest income: Service charges | 932 | 864 | 8 | 1,836 | 1,690 | 9 Investment banking fees | 1,154 | 767 | 50 | 2,201 | 1,614 | 36 All other income | 952 | 977 | (3) | 2,058 | 2,145 | (4) Total noninterest income | 3,038 | 2,608 | 16 | 6,095 | 5,449 | 12 Total revenue, net of interest expense | 6,236 | 5,689 | 10 | 12,523 | 11,681 | 7 Provision for credit losses | 215 | 277 | (22) | 400 | 431 | (7) Noninterest expense | 3,199 | 3,070 | 4 | 6,422 | 6,254 | 3 Income before income taxes | 2,822 | 2,342 | 20 | 5,701 | 4,996 | 14 Income tax expense | 776 | 644 | 20 | 1,568 | 1,374 | 14 Net income | $ | 2,046 | $ | 1,698 | 20 | $ | 4,133 | $ | 3,622 | 14 Effective tax rate | 27.5 | % | 27.5 | % | 27.5 | % | 27.5 | % Net interest yield | 1.86 | 1.94 | 1.88 | 2.02 Efficiency ratio | 51.30 | 53.98 | 51.29 | 53.55 Return on average allocated capital | 15 | 13 | 15 | 14

Global Banking Net Interest Yield

1.9%

Global Banking Return on Average Allocated Capital

15.0%

Global Markets Efficiency Ratio

55.9%

Three Months Ended June 30 | Six Months Ended June 30 (Dollars in millions) | 2026 | 2025 | % Change | 2026 | 2025 | % Change Net interest income | $ | 1,911 | $ | 1,267 | 51 | % | $ | 3,772 | $ | 2,456 | 54 | % Noninterest income: Investment and brokerage services | 729 | 642 | 14 | 1,489 | 1,269 | 17 Investment banking fees | 965 | 666 | 45 | 1,727 | 1,347 | 28 Market making and similar activities | 4,422 | 3,300 | 34 | 8,143 | 6,922 | 18 All other income | (5) | 107 | (105) | — | 573 | (100) Total noninterest income | 6,111 | 4,715 | 30 | 11,359 | 10,111 | 12 Total revenue, net of interest expense | 8,022 | 5,982 | 34 | 15,131 | 12,567 | 20 Provision for credit losses | (11) | 22 | n/m | 16 | 50 | (68) Noninterest expense | 4,484 | 3,806 | 18 | 8,854 | 7,617 | 16 Income before income taxes | 3,549 | 2,154 | 65 | 6,261 | 4,900 | 28 Income tax expense | 923 | 625 | 48 | 1,628 | 1,421 | 15 Net income | $ | 2,626 | $ | 1,529 | 72 | $ | 4,633 | $ | 3,479 | 33 Effective tax rate | 26.0 | % | 29.0 | % | 26.0 | % | 29.0 | % Efficiency ratio | 55.90 | 63.61 | 58.52 | 60.61 Return on average allocated capital | 20 | 13 | 17 | 14

Global Markets Return on Average Allocated Capital

20.0%