Bank of America : Earnings Supplemental Information Q2 2024

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	14
Total Segment Results
Key Indicators	15
Business Results	16
Global Wealth & Investment Management	18
Total Segment Results
Key Indicators	19
Global Banking	20
Total Segment Results
Key Indicators	21
Global Markets	22
Total Segment Results
Key Indicators	23
All Other	24
Total Results
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			Second			First			Fourth			Third			Second
		June 30
						Quarter			Quarter			Quarter			Quarter			Quarter
		2024			2023				2024			2024			2023			2023			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			Second			First			Fourth			Third			Second
		June 30
						Quarter			Quarter			Quarter			Quarter			Quarter
		2024			2023				2024			2024			2023			2023			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
		2024			2023
Net income	$	13,571	$	15,569
Other comprehensive income (loss), net-of-tax:
Net change in debt securities		27			723
Net change in debit valuation adjustments		(135)			(394)
Net change in derivatives		270			49
Employee benefit plan adjustments		48			19
Net change in foreign currency translation adjustments		(51)			17
Other comprehensive income (loss)		159			414
Comprehensive income (loss)	$	13,730		$	15,983

	Second			First			Fourth			Third			Second
	Quarter			Quarter			Quarter			Quarter			Quarter
	2024			2024			2023			2023			2023
$	6,897	$	6,674	$	3,144	$	7,802	$	7,408
	(305)			332			492			(642)			168
	53			(188)			(267)			(25)			(404)
	686			(416)			4,236			(366)			(1,993)
	25			23			(464)			6			9
	(31)			(20)			7			(23)			5
	428			(269)			4,004			(1,050)			(2,215)
$	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
		2024			2023
Net interest income
Interest income
Loans and leases	$	30,578	$	27,067
Debt securities		12,462			10,151
Federal funds sold and securities borrowed or purchased under agreements to resell		10,334			8,667
Trading account assets		4,971			4,104
Other interest income		14,794			11,020
Total interest income		73,139			61,009
Interest expense
Deposits		18,793			10,099
Short-term borrowings		17,605			14,535
Trading account liabilities		1,086			976
Long-term debt		7,921			6,793
Total interest expense		45,405			32,403
Net interest income	$	27,734	$	28,606
Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	1,954	$	1,979
Other card income		1,090			1,036
Total card income		3,044			3,015
Service charges
Deposit-related fees		2,294			2,142
Lending-related fees		655			632
Total service charges		2,949			2,774
Investment and brokerage services
Asset management fees		6,640			5,887
Brokerage fees		1,867			1,804
Total investment and brokerage services		8,507			7,691
Investment banking fees
Underwriting income		1,770			1,226
Syndication fees		612			411
Financial advisory services		747			738
Total investment banking fees		3,129			2,375
Total fees and commissions		17,629			15,855
Market making and similar activities		7,186			8,409
Other income (loss)		(1,354)			(1,415)
Total noninterest income	$	23,461	$	22,849

Second		First		Fourth		Third		Second
Quarter		Quarter		Quarter		Quarter		Quarter
2024		2024		2023		2023		2023

• 15,338 $ 15,240 $ 15,227 $ 14,830 $ 13,970

6,325	6,137	5,417	4,658	4,691
5,159	5,175	5,124	4,888	4,955
2,516	2,455	2,452	2,217	2,076
7,516		7,278		7,409		7,031		6,662
36,854		36,285		35,629		33,624		32,354
9,655	9,138	8,724	7,340	5,785
9,070	8,535	8,389	7,629	8,355
540	546	557	510	472
3,887		4,034		4,013		3,766		3,584
23,152		22,253		21,683		19,245		18,196
$ 13,702	$ 14,032	$ 13,946	$ 14,379	$ 14,158

$	1,023	$	931	$	1,010	$	994	$	1,023
	558			532			509			526			523
	1,581			1,463			1,519			1,520			1,546
	1,172			1,122			1,116			1,124			1,045
	335			320			330			340			319
	1,507			1,442			1,446			1,464			1,364
	3,370			3,270			3,012			3,103			2,969
	950			917			897			860			870
	4,320			4,187			3,909			3,963			3,839
	869			901			478			531			657
	318			294			278			209			180
	374			373			389			448			375
	1,561			1,568			1,145			1,188			1,212
	8,969			8,660			8,019			8,135			7,961
	3,298			3,888			998			3,325			3,697
	(592)			(762)			(1,004)			(672)			(619)
$	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			March 31		June 30
			2024			2024				2023
Assets	$	25,849
Cash and due from banks	$	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		26,548
and 4,088,099 shares				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			March 31			June 30
		2024			2024			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			March 31			June 30
		2024			2024			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		1,511
creditworthiness, net-of-tax				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
			Interest						Interest						Interest
	Average		Income/	Yield/			Average		Income/	Yield/			Average		Income/	Yield/
	Balance	Expense (1)	Rate			Balance	Expense (1)	Rate			Balance	Expense (1)	Rate
Earning assets
Interest-bearing deposits with the Federal Reserve,	$ 345,423	$	4,498	5.24 %
non-U.S. central banks and other banks	$	346,463	$	4,531		5.26 %	$	359,042	$	4,303		4.81 %
Time deposits placed and other short-term	10,845		123	4.55
investments				9,728		116		4.80			11,271		129		4.56
Federal funds sold and securities borrowed or	318,380		5,159	6.52
purchased under agreements to resell				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	371,372		6,171	6.68
under agreements to repurchase				350,507		6,026		6.92			322,728		5,807		7.22
Short-term borrowings and other interest-bearing	152,742		2,899	7.64
liabilities				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	513,631
Noninterest-bearing deposits						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
					Gross			Gross
		Amortized			Unrealized			Unrealized			Fair
		Cost			Gains			Losses			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