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Bank of America Corp

BAC · 8-K · Filed Jul 14 · 10:450000070858-26-000353Read the filing ›Open on SEC EDGAR

8-K

bac-20260714.htm

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.

¶1

On July 14, 2026 , Bank of America Corporation (the “Corporation”) announced financial results for the second quarter ended June 30, 2026, reporting second quarter net income of $9.1 billion, or $1.21 per diluted share. A copy of the press release announcing the Corporation’s results for the second quarter ended June 30, 2026 (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.

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Exhibit 99.1

bac06302026ex991.htm

EX-99.1 bac06302026ex991.htm

¶2

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 enrollments in 2Q2610 – 4.4 billion digital logins; 70% of total sales were digitally-enabled Global Wealth and Investment Management • Net income of $1.4 billion • Revenue of $6.9 billion, up 16%, driven by higher asset management fees, up 19% to $4.4 billion, reflecting higher market valuations and solid assets under management (AUM) flows, as well as higher NII • Client balances of $4.9 trillion, up 12%, driven primarily by higher market valuations • Average loans and leases of $270 billion, up $33 billion, or 14% • Client Highlights – $2.3 trillion of AUM balances, up 17% – Added ~6K net new $500K+ relationships across Merrill and Private Bank – 87% of Merrill and Private Bank clients digitally active Global Banking • Net income of $2.0 billion • Total Corporation investment banking fees (excl. self-led) of $2.1 billion, up 50% • $652 billion in average deposits, up 8% • Average loans and leases increased 7%, with growth across corporate, commercial and business banking • 10% improvement in treasury service charges Global Markets • Net income of $2.6 billion • Sales and trading revenue of $7.1 billion, incl. net debit valuation adjustment (DVA) losses of $57 million. Up 33% incl. and excl. net DVA.(E) 17th consecutive quarter of year-over-year growth – Equities revenue up 70% to $3.6 billion, incl. and excl. net DVA(E) – Fixed Income, Currencies and Commodities (FICC) revenue up 9% to $3.5 billion, incl. and excl. net DVA(E) From Chair and CEO Brian Moynihan: The team delivered one of our strongest quarters to date, with earnings per share up 34% year-over-year. Every business segment reported double digit net income growth and strong returns on equity. Revenue increased 15% from last year as we deepened relationships with existing clients and welcomed new ones. Against a healthy economic backdrop, resilient consumers and businesses are turning to Bank of America to spend, borrow and invest. It was also an exceptional quarter for our markets-facing businesses, with investment banking fees up 50% year-over-year. Near-term, pipelines remain strong, and commercial borrowing has picked up. Disciplined expense management, coupled with investments for growth, helped drive 6.6% operating leverage and a roughly 360 basis point improvement in our efficiency ratio from a year ago. Going forward, we remain focused on what we do best, delivering for clients at every stage of their financial lives. 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. Amounts may not total due to rounding. Revenue, net of interest expense. Operating leverage calculated as the year-over-year percentage change in revenue, net of interest expense, less the percentage change in noninterest expense. Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Source: Federal Financial Institutions Examination Council (FFIEC) Call Reports, 1Q26. 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). End of period. Consumer investment assets include client brokerage assets, deposit sweep balances, brokered CDs, and AUM in Consumer Banking. Total payments represent payments made from Bank of America accounts using credit card, debit card, ACH, wires, billpay, person-to-person, cash and checks. Return on average tangible common shareholders’ equity ratio represents a non-GAAP financial measure. For more information, see page 19. Clients enrolled in BofA Rewards include legacy Preferred Rewards clients and new enrollments since launch of BofA Rewards on May 27, 2026. New client enrollment as of June 30, 2026, is preliminary and includes clients in Consumer and GWIM. Tangible book value per common share represents a non-GAAP financial measure. For more information, see page 19. • Net income of $9.1 billion compared to $7.2 billion, up 27% – Diluted earnings per share (EPS) of $1.21 compared to $0.90, up 34% • Revenue, net of interest expense, of $31.6 billion ($31.7 billion FTE),(A) up 15%, reflected higher net interest income (NII), sales and trading revenue, asset management fees and investment banking fees – NII of $16.0 billion ($16.2 billion FTE),(A) up 9%, driven by higher NII related to Global Markets activity, higher loan and deposit balances, and fixed-rate asset repricing, partially offset by the impact of lower interest rates • Provision for credit losses of $1.4 billion decreased from $1.6 billion in 2Q25 and was relatively flat to 1Q26 – Net charge-offs of $1.4 billion decreased from $1.5 billion in 2Q25 and were relatively flat to 1Q26 • Noninterest expense of $18.6 billion, up 8%, driven equally by revenue- related expenses and investments in people, brand and technology – Efficiency ratio improved 359 bps to 59% – Operating leverage of 6.6%2 • Return on average common shareholders' equity ratio of 12.7%; return on average tangible common shareholders' equity ratio of 17.0%9 • Return on average assets of 1.03% • Balance Sheet Remained Strong – Average deposit balances of $2.02 trillion increased more than 2%; 12th consecutive quarter of sequential average growth – Average loans and leases of $1.22 trillion increased 8%, with growth across every business segment; 9th consecutive quarter of sequential average growth – Average Global Liquidity Sources of $947 billion(C) – Common equity tier 1 (CET1) capital of $202 billion increased $1.9 billion from 1Q26 – CET1 ratio of 11.2% (Standardized);(D) well above the regulatory minimum – Returned $8.0 billion to shareholders ($2.0 billion through common stock dividends and $6.0 billion in common stock repurchases) • Book value per common share rose 7% to $39.34; tangible book value per common share rose 7% to $29.3711

2 Bank of America Financial Highlights ($ in billions, except per share data) 2Q26 1Q26 2Q25 Total revenue, net of interest expense $31.6 $30.3 $27.4 Provision for credit losses 1.4 1.3 1.6 Noninterest expense 18.6 18.5 17.2 Pretax income 11.6 10.4 8.7 Pretax, pre-provision income1(F) 12.9 11.7 10.3 Income tax expense 2.5 1.8 1.5 Net income 9.1 8.6 7.2 Diluted earnings per share $1.21 $1.11 $0.90 Return on average assets 1.03 % 0.99 % 0.84 % Return on average common shareholders’ equity 12.7 12.0 10.1 Return on average tangible common shareholders’ equity1 17.0 16.0 13.6 Efficiency ratio 59 61 63 1 Pretax, pre-provision income and return on average tangible common shareholders’ equity represent non-GAAP financial measures. For more information, see page 19. Net Interest Income (FTE) $14.8 $15.4 $15.9 $15.9 $16.2 $14.7 $15.2 $15.8 $15.7 $16.0 Net interest income (GAAP) FTE adjustment 2Q25 3Q25 4Q25 1Q26 2Q26 Efficiency Ratio 63% 60% 61% 61% 59% 2Q25 3Q25 4Q25 1Q26 2Q26 Spotlight on Efficiency Ratio and Net Interest Income ($B) (A) From Executive Vice President and CFO Alastair Borthwick: Built on years of disciplined execution, our second quarter performance reflected strong revenue growth across every business segment and improved returns on equity and assets. With strong capital and liquidity, diversified funding and solid asset quality, our $3.5 trillion balance sheet remained a source of strength, as we helped clients and returned $8 billion to shareholders in the second quarter through dividends and share repurchases. We are in a good position to serve our clients, deliver for our shareholders, and support a growing economy.

3 Consumer Banking1(B) Financial Results Three months ended ($ in millions) 6/30/2026 3/31/2026 6/30/2025 Total revenue2 $11,336 $11,049 $10,813 Provision for credit losses 1,160 1,132 1,282 Noninterest expense 5,801 5,837 5,567 Pretax income 4,375 4,080 3,964 Income tax expense 1,094 1,020 991 Net income $3,281 $3,060 $2,973 Business Highlights(B) Three months ended ($ in billions) 6/30/2026 3/31/2026 6/30/2025 Average deposits $957.0 $950.8 $952.0 Average loans and leases 321.1 322.2 319.1 Consumer investment assets5 639.5 573.3 539.7 Active mobile banking users (MM) 42.1 41.8 40.8 Number of financial centers 3,530 3,540 3,664 Efficiency ratio 51 % 53 % 51 % Return on average allocated capital 29 27 27 Total Consumer Credit Card3 Average credit card outstanding balances $103.6 $103.1 $100.0 Total credit / debit spend 266.1 244.9 244.1 Risk-adjusted margin 6.5 % 6.7 % 7.1 % • Net income of $3.3 billion • Revenue of $11.3 billion,2 up 5%, driven primarily by higher NII • Provision for credit losses of $1.2 billion, down 10% – Net reserve release of $23 million vs. net reserve build of $82 million(G) – Net charge-offs of $1.2 billion decreased $17 million • Noninterest expense of $5.8 billion increased 4%, driven by investments in technology and brand – Efficiency ratio of 51% • Return on average allocated capital of 29% Business Highlights1,3(B) • Average deposits of $957 billion were up 1% – 59% of deposits in checking accounts; 92% are primary4 • Average loans and leases of $321 billion increased 1% • Combined credit / debit card spend of $266 billion increased 9% • Consumer investment assets of $640 billion, up 18%,5 driven by higher market valuations and $19 billion of net client flows from new and existing clients • 13.3 million clients enrolled in BofA Rewards; ~2 million new enrollments in 2Q266 Strong Digital Usage Continued in the Quarter1 • 80% of households actively using digital platforms7 • 50 million active digital banking users, up 836K • 2.2 million digitally-enabled sales, representing 70% of total sales • 4.4 billion digital logins, up 7% • 25.5 million active Zelle® users, up 5%; sent and received 495 million transactions worth $160 billion, up 11% and 15%, respectively8 • 24.6 million active Erica® users, up 23%9 Continued Business Leadership • No. 1 in U.S. Consumer Deposits(a) • No. Small Business Lender(a) • No. 1 in Retail Banking Advice Satisfaction(b) • World's Best Banks 2026: North America - Best in the U.S.(c) • Merrill Edge Self-Directed No. 1 for Bank Brokerage(d) See page 11 for Business Leadership sources. Comparisons are to the year-ago quarter unless noted. Revenue, net of interest expense. The consumer credit card portfolio includes Consumer Banking and GWIM. 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). End of period. Consumer investment assets includes client brokerage assets, deposit sweep balances, brokered CDs, and AUM in Consumer Banking. Clients enrolled in BofA Rewards include legacy Preferred Rewards clients and new enrollments since launch of BofA Rewards on May 27, 2026. New client enrollment as of June 30, 2026, is preliminary and includes clients in Consumer and GWIM. Household adoption represents households with consumer bank login activities in a 90-day period, as of May 2026. Includes Bank of America person-to-person payments sent and received through e-mail or mobile identification. Zelle® users represent 90-day active users. Represents mobile and online activity across client facing platforms powered by Erica®.

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Thaler Agent

“On July 14, 2026 , Bank of America Corporation (the “Corporation”) announced financial results for the second quarter ended June 30, 2026, reporting second quarter net income of $9.1 billion, or $1.21 per diluted share.”

Bank of America reported second-quarter net income of $9.1 billion, or $1.21 per diluted share, for the quarter ended June 30, 2026.¶1

Revenue, net of interest expense, rose 15% to $31.6 billion, while net interest income increased 9% to $16.0 billion, compared with the year-ago quarter.¶2

Bank of America returned $8.0 billion to shareholders in the second quarter through common stock dividends and repurchases.¶2

Net income: $9.1 billion Second quarter ended June 30, 2026¶1
Diluted earnings per share: $1.21 Second quarter ended June 30, 2026¶1
Revenue, net of interest expense: $31.6 billion 2Q26, up 15% year over year¶2

2 of 9 passages found in the filing

Thaler Agent · checked against the filing

Thaler ResearchEngraved from SEC EDGAR© 2026 Thaler. All rights reserved.Last sale prices: Data provided for free by IEX. By accessing or using IEX Historical Data, you agree to the IEX Historical Data Terms of Use.

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Net interest income

$16.0 billion 2Q26, up 9% year over year¶2Copied

Shareholder returns

$8.0 billion Second quarter 2026¶2Copied

Compared with earlier periods

Q2 FY2026

Net income$9.1 billion

Q2 FY2025$7.17B+26.6%Q1 FY2026$8.58B+5.7%

Diluted earnings per share$1.21

Q2 FY2025$0.90+34.4%Q1 FY2026$1.11+9.0%

Revenue, net of interest expense$31.6 billion

Q2 FY2025$27.44B+15.0%Q1 FY2026$30.27B+4.2%

Filing figures are from this filing. Earlier figures are from past filings.