Supplemental Information

First Quarter 2017

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 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 Bank of America'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 Bank of America's website (www.bankofamerica.com). Bank of America's future financial performance is subject to risks and uncertainties as described in its SEC filings.

Bank of America Corporation and Subsidiaries
Table of Contents	Page
Consolidated Financial Highlights	2
Consolidated Statement of Income	3
Consolidated Statement of Comprehensive Income	4
Consolidated Balance Sheet	5
Capital Management	7
Regulatory Capital Reconciliations	8
Quarterly Average Balances and Interest Rates	9
Debt Securities and Available-for-Sale Marketable Equity Securities	11
Supplemental Financial Data	12
Quarterly Results by Business Segment and All Other	13
Consumer Banking
Total Segment Results	15
Business Results	16
Key Indicators	18
Global Wealth & Investment Management
Total Segment Results	20
Key Indicators	21
Global Banking
Total Segment Results	22
Key Indicators	23
Investment Banking Product Rankings	24
Global Markets
Total Segment Results	25
Key Indicators	26
All Other
Total Results	27
Outstanding Loans and Leases	28
Quarterly Average Loans and Leases by Business Segment and All Other	29
Commercial Credit Exposure by Industry	30
Net Credit Default Protection by Maturity and Credit Exposure Debt Rating	31
Top 20 Non-U.S. Countries Exposure	32
Nonperforming Loans, Leases and Foreclosed Properties	33
Nonperforming Loans, Leases and Foreclosed Properties Activity	34
Quarterly Net Charge-offs and Net Charge-off Ratios	35
Allocation of the Allowance for Credit Losses by Product Type	36
Exhibit A: Non-GAAP Reconciliations	37

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Income statement
Net interest income	$	11,058		$	10,292		$	10,201		$	10,118		$	10,485
Noninterest income	11,190			9,698			11,434			11,168			10,305
Total revenue, net of interest expense	22,248			19,990			21,635			21,286			20,790
Provision for credit losses	835			774			850			976			997
Noninterest expense	14,848			13,161			13,481			13,493			14,816
Income tax expense	1,709			1,359			2,349			2,034			1,505
Net income	4,856			4,696			4,955			4,783			3,472
Preferred stock dividends	502			361			503			361			457
Net income applicable to common shareholders	4,354			4,335			4,452			4,422			3,015
Diluted earnings per common share	0.41			0.40			0.41			0.41			0.28
Average diluted common shares issued and outstanding	10,914,815			10,958,621			11,000,473			11,059,167			11,100,067
Dividends paid per common share	$	0.075		$	0.075		$	0.075		$	0.05		$	0.05
Performance ratios
Return on average assets	0.88		%	0.85		%	0.90		%	0.88		%	0.64		%
Return on average common shareholders' equity	7.27			7.04			7.27			7.40			5.11
Return on average shareholders' equity	7.35			6.91			7.33			7.25			5.36
Return on average tangible common shareholders' equity (1)	10.28			9.92			10.28			10.54			7.33
Return on average tangible shareholders' equity (1)	10.00			9.38			9.98			9.93			7.40
At period end
Book value per share of common stock	$	24.36		$	24.04		$	24.19		$	23.71		$	23.14
Tangible book value per share of common stock (1)	17.23			16.95			17.14			16.71			16.19
Market price per share of common stock:
Closing price	$	23.59		$	22.10		$	15.65		$	13.27		$	13.52
High closing price for the period	25.50			23.16			16.19			15.11			16.43
Low closing price for the period	22.05			15.63			12.74			12.18			11.16
Market capitalization	235,291			222,163			158,438			135,577			139,427
Number of financial centers - U.S.	4,559			4,579			4,629			4,681			4,689
Number of branded ATMs - U.S.	15,939			15,928			15,959			15,998			16,003
Full-time equivalent employees	208,573			208,024			209,009			210,516			213,183

⁽¹⁾  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 pages 37-38.)

Certain prior period amounts have been reclassified to conform to current period presentation.

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
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2017		Fourth Quarter 2016		Third Quarter 2016		Second Quarter 2016		First Quarter 2016
Interest income
Loans and leases	$	8,754	$	8,391	$	8,358	$	8,219	$	8,260
Debt securities	2,541		2,245		2,144		2,261		2,517
Federal funds sold and securities borrowed or purchased under agreements to resell	439		315		267		260		276
Trading account assets	1,076		1,093		1,076		1,075		1,179
Other interest income	900		821		765		759		776
Total interest income	13,710		12,865		12,610		12,574		13,008
Interest expense
Deposits	282		279		266		245		225
Short-term borrowings	647		542		569		626		613
Trading account liabilities	264		240		244		242		292
Long-term debt	1,459		1,512		1,330		1,343		1,393
Total interest expense	2,652		2,573		2,409		2,456		2,523
Net interest income	11,058		10,292		10,201		10,118		10,485
Noninterest income
Card income	1,449		1,502		1,455		1,464		1,430
Service charges	1,918		1,978		1,952		1,871		1,837
Investment and brokerage services	3,262		3,202		3,160		3,201		3,182
Investment banking income	1,584		1,222		1,458		1,408		1,153
Trading account profits	2,331		1,081		2,141		2,018		1,662
Mortgage banking income	122		519		589		312		433
Gains on sales of debt securities	52		—		51		249		190
Other income	472		194		628		645		418
Total noninterest income	11,190		9,698		11,434		11,168		10,305
Total revenue, net of interest expense	22,248		19,990		21,635		21,286		20,790
Provision for credit losses	835		774		850		976		997
Noninterest expense
Personnel	9,158		7,338		7,704		7,722		8,852
Occupancy	1,000		969		1,005		1,036		1,028
Equipment	438		447		443		451		463
Marketing	332		460		410		414		419
Professional fees	456		538		536		472		425
Amortization of intangibles	162		176		181		186		187
Data processing	794		767		685		717		838
Telecommunications	191		195		189		189		173
Other general operating	2,317		2,271		2,328		2,306		2,431
Total noninterest expense	14,848		13,161		13,481		13,493		14,816
Income before income taxes	6,565		6,055		7,304		6,817		4,977
Income tax expense	1,709		1,359		2,349		2,034		1,505
Net income	$	4,856	$	4,696	$	4,955	$	4,783	$	3,472
Preferred stock dividends	502		361		503		361		457
Net income applicable to common shareholders	$	4,354	$	4,335	$	4,452	$	4,422	$	3,015
Per common share information
Earnings	$	0.43	$	0.43	$	0.43	$	0.43	$	0.29
Diluted earnings	0.41		0.40		0.41		0.41		0.28
Dividends paid	0.075		0.075		0.075		0.05		0.05
Average common shares issued and outstanding	10,099,557		10,170,031		10,250,124		10,328,424		10,370,094
Average diluted common shares issued and outstanding	10,914,815		10,958,621		11,000,473		11,059,167		11,100,067

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net income	$	4,856		$	4,696		$	4,955		$	4,783		$	3,472
Other comprehensive income (loss), net-of-tax:
Net change in debt and marketable equity securities	(99		)	(4,664		)	208			755			2,356
Net change in debit valuation adjustments	9			(205		)	(65		)	(13		)	127
Net change in derivatives	38			(95		)	127			126			24
Employee benefit plan adjustments	27			(553		)	6			13			10
Net change in foreign currency translation adjustments	(3		)	(70		)	(8		)	(21		)	12
Other comprehensive income (loss)	(28		)	(5,587		)	268			860			2,529
Comprehensive income (loss)	$	4,828		$	(891	)	$	5,223		$	5,643		$	6,001

Certain prior period amounts have been reclassified to conform to current period presentation.

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)
	March 31 2017			December 31 2016			March 31 2016
Assets
Cash and due from banks	$	28,955		$	30,719		$	27,781
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	139,070			117,019			151,829
Cash and cash equivalents	168,025			147,738			179,610
Time deposits placed and other short-term investments	11,967			9,861			5,891
Federal funds sold and securities borrowed or purchased under agreements to resell	210,733			198,224			221,129
Trading account assets	209,044			180,209			178,987
Derivative assets	40,078			42,512			52,255
Debt securities:
Carried at fair value	312,012			313,660			302,333
Held-to-maturity, at cost	116,033			117,071			98,236
Total debt securities	428,045			430,731			400,569
Loans and leases	906,242			906,683			901,113
Allowance for loan and lease losses	(11,112		)	(11,237		)	(12,069		)
Loans and leases, net of allowance	895,130			895,446			889,044
Premises and equipment, net	9,319			9,139			9,358
Mortgage servicing rights	2,610			2,747			2,631
Goodwill	68,969			68,969			69,761
Intangible assets	2,766			2,922			3,578
Loans held-for-sale	14,751			9,066			6,192
Customer and other receivables	59,534			58,759			56,838
Assets of business held for sale	11,025			10,670			n/a
Other assets	115,705			120,709			109,883
Total assets	$	2,247,701		$	2,187,702		$	2,185,726
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	5,180		$	5,773		$	5,876
Loans and leases	53,187			56,001			62,045
Allowance for loan and lease losses	(1,004		)	(1,032		)	(1,152		)
Loans and leases, net of allowance	52,183			54,969			60,893
Loans held-for-sale	128			188			278
All other assets	2,161			1,596			1,523
Total assets of consolidated variable interest entities	$	59,652		$	62,526		$	68,570

n/a = not applicable

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	March 31 2017			December 31 2016			March 31 2016
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	436,972		$	438,125		$	424,319
Interest-bearing	762,161			750,891			718,579
Deposits in non-U.S. offices:
Noninterest-bearing	13,223			12,039			11,230
Interest-bearing	59,785			59,879			63,133
Total deposits	1,272,141			1,260,934			1,217,261
Federal funds purchased and securities loaned or sold under agreements to repurchase	186,098			170,291			188,960
Trading account liabilities	77,283			63,031			74,003
Derivative liabilities	36,428			39,480			41,063
Short-term borrowings	44,162			23,944			30,881
Accrued expenses and other liabilities (includes $757, $762 and $627 of reserve for unfunded lending commitments)	142,051			146,359			137,705
Long-term debt	221,385			216,823			232,849
Total liabilities	1,979,548			1,920,862			1,922,722
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,887,329, 3,887,329 and 3,851,790 shares	25,220			25,220			24,342
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 9,974,189,863, 10,052,625,604 and 10,312,660,252 shares	144,782			147,038			150,774
Retained earnings	105,467			101,870			90,717
Accumulated other comprehensive income (loss)	(7,316		)	(7,288		)	(2,829		)
Total shareholders' equity	268,153			266,840			263,004
Total liabilities and shareholders' equity	$	2,247,701		$	2,187,702		$	2,185,726
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	185		$	348		$	665
Long-term debt	11,944			10,646			10,857
All other liabilities	37			41			17
Total liabilities of consolidated variable interest entities	$	12,166		$	11,035		$	11,539

Certain prior period amounts have been reclassified to conform to current period presentation.

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 Management
(Dollars in millions)
	Basel 3 Transition
	March 31 2017			December 31 2016			September 30 2016			June 30 2016			March 31 2016
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	167,351		$	168,866		$	169,925		$	166,173		$	162,732
Tier 1 capital	190,332			190,315			191,435			187,209			182,550
Total capital	227,250			228,187			229,132			226,949			223,020
Risk-weighted assets	1,398,354			1,399,477			1,395,541			1,396,277			1,405,748
Common equity tier 1 capital ratio	12.0		%	12.1		%	12.2		%	11.9		%	11.6		%
Tier 1 capital ratio	13.6			13.6			13.7			13.4			13.0
Total capital ratio	16.3			16.3			16.4			16.3			15.9
Advanced Approaches
Common equity tier 1 capital	$	167,351		$	168,866		$	169,925		$	166,173		$	162,732
Tier 1 capital	190,332			190,315			191,435			187,209			182,550
Total capital	218,112			218,981			219,878			217,828			213,434
Risk-weighted assets	1,516,708			1,529,903			1,547,221			1,561,567			1,586,993
Common equity tier 1 capital ratio	11.0		%	11.0		%	11.0		%	10.6		%	10.3		%
Tier 1 capital ratio	12.5			12.4			12.4			12.0			11.5
Total capital ratio	14.4			14.3			14.2			13.9			13.4
Leverage-based metrics (2)
Adjusted average assets	$	2,153,357		$	2,131,121		$	2,111,234		$	2,109,172		$	2,094,896
Tier 1 leverage ratio	8.8		%	8.9		%	9.1		%	8.9		%	8.7		%
Supplementary leverage exposure	$	2,715,760		$	2,702,248		$	2,703,905		$	2,694,079		$	2,685,787
Supplementary leverage ratio	7.0		%	6.9		%	7.1		%	6.9		%	6.8		%
Tangible equity ratio (3)	9.1			9.2			9.4			9.3			9.1
Tangible common equity ratio (3)	7.9			8.1			8.2			8.1			7.9

⁽¹⁾  Regulatory capital ratios reflect the transition provisions of Basel 3.

⁽²⁾  The numerator of the supplementary leverage ratio and Tier 1 leverage ratio is quarter-end Basel 3 Tier 1 capital. The Tier 1 leverage ratio reflects the transition provisions of Basel 3 and the supplementary leverage ratio is calculated on a fully phased-in basis. The denominator of supplementary leverage exposure is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions.

⁽³⁾  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 pages 37-38.)

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 7

Bank of America Corporation and Subsidiaries
Regulatory Capital Reconciliations (1, 2)
(Dollars in millions)
	March 31 2017			December 31 2016			September 30 2016			June 30 2016			March 31 2016
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition)	$	167,351		$	168,866		$	169,925		$	166,173		$	162,732
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(1,594		)	(3,318		)	(3,143		)	(3,496		)	(3,764		)
Accumulated OCI phased in during transition	(964		)	(1,899		)	188			359			(117		)
Intangibles phased in during transition	(375		)	(798		)	(853		)	(907		)	(983		)
Defined benefit pension fund assets phased in during transition	(175		)	(341		)	(375		)	(378		)	(381		)
DVA related to liabilities and derivatives phased in during transition	128			276			168			104			76
Other adjustments and deductions phased in during transition	(38		)	(57		)	(35		)	(24		)	(54		)
Common equity tier 1 capital (fully phased-in)	$	164,333		$	162,729		$	165,875		$	161,831		$	157,509
Risk-weighted assets – As reported to Basel 3 (fully phased-in)
Basel 3 Standardized approach risk-weighted assets as reported	$	1,398,354		$	1,399,477		$	1,395,541		$	1,396,277		$	1,405,748
Changes in risk-weighted assets from reported to fully phased-in	17,785			17,638			15,587			17,689			20,104
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	$	1,416,139		$	1,417,115		$	1,411,128		$	1,413,966		$	1,425,852
Basel 3 Advanced approaches risk-weighted assets as reported	$	1,516,708		$	1,529,903		$	1,547,221		$	1,561,567		$	1,586,993
Changes in risk-weighted assets from reported to fully phased-in	(19,132		)	(18,113		)	(23,502		)	(19,600		)	(29,710		)
Basel 3 Advanced approaches risk-weighted assets (fully phased-in) (3)	$	1,497,576		$	1,511,790		$	1,523,719		$	1,541,967		$	1,557,283
Regulatory capital ratios
Basel 3 Standardized approach common equity tier 1 (transition)	12.0		%	12.1		%	12.2		%	11.9		%	11.6		%
Basel 3 Advanced approaches common equity tier 1 (transition)	11.0			11.0			11.0			10.6			10.3
Basel 3 Standardized approach common equity tier 1 (fully phased-in)	11.6			11.5			11.8			11.4			11.0
Basel 3 Advanced approaches common equity tier 1 (fully phased-in) (3)	11.0			10.8			10.9			10.5			10.1

⁽¹⁾  As an Advanced approaches institution, we are required to report regulatory capital risk-weighted assets and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy, which is the Advanced approaches for the periods presented.

⁽²⁾  Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.

⁽³⁾  Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal models methodology (IMM) for calculating counterparty credit risk regulatory capital for derivatives. As of March 31, 2017, we did not have regulatory approval of the IMM model.

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	First Quarter 2017						Fourth Quarter 2016						First Quarter 2016
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	123,921	$	202	0.66	%	$	125,820	$	145	0.46	%	$	138,574	$	155	0.45	%
Time deposits placed and other short-term investments	11,497		47		1.65		9,745		39		1.57		9,156		32		1.41
Federal funds sold and securities borrowed or purchased under agreements to resell	216,402		439		0.82		218,200		315		0.57		209,183		276		0.53
Trading account assets	125,661		1,111		3.58		126,731		1,131		3.55		136,306		1,212		3.57
Debt securities (1)	430,234		2,573		2.39		430,719		2,273		2.11		399,978		2,537		2.56
Loans and leases (2):
Residential mortgage	193,627		1,661		3.44		191,003		1,621		3.39		186,980		1,629		3.49
Home equity	65,508		639		3.94		68,021		618		3.63		75,328		711		3.79
U.S. credit card	89,628		2,111		9.55		89,521		2,105		9.35		87,163		2,021		9.32
Non-U.S. credit card	9,367		211		9.15		9,051		192		8.43		9,822		253		10.36
Direct/Indirect consumer	93,291		608		2.65		93,527		598		2.54		89,342		550		2.48
Other consumer	2,547		27		4.07		2,462		25		3.99		2,138		16		3.03
Total consumer	453,968		5,257		4.68		453,585		5,159		4.53		450,773		5,180		4.61
U.S. commercial	287,468		2,222		3.14		283,491		2,119		2.97		270,511		1,936		2.88
Commercial real estate	57,764		479		3.36		57,540		453		3.13		57,271		434		3.05
Commercial lease financing	22,123		231		4.17		21,436		145		2.71		21,077		182		3.46
Non-U.S. commercial	92,821		595		2.60		92,344		589		2.54		93,352		585		2.52
Total commercial	460,176		3,527		3.11		454,811		3,306		2.89		442,211		3,137		2.85
Total loans and leases (1)	914,144		8,784		3.88		908,396		8,465		3.71		892,984		8,317		3.74
Other earning assets	73,514		751		4.13		64,501		731		4.52		58,641		694		4.75
Total earning assets (3)	1,895,373		13,907		2.96		1,884,112		13,099		2.77		1,844,822		13,223		2.88
Cash and due from banks (1)	27,196						27,452						28,844
Other assets, less allowance for loan and lease losses (1)	308,851						296,475						300,256
Total assets	$	2,231,420					$	2,208,039					$	2,173,922

⁽¹⁾  Includes assets of the Corporation's non-U.S. consumer credit card business, which are included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017 and December 31, 2016. The impact on net interest yield of the earning assets included in assets of business held for sale is not significant.

⁽²⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the estimated life of the loan.

⁽³⁾  The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:

	First Quarter 2017				Fourth Quarter 2016				First Quarter 2016
Federal funds sold and securities borrowed or purchased under agreements to resell		$	15			$	8			$	13
Debt securities		(22		)		(19		)		(34		)
U.S. commercial loans and leases		(10		)		(10		)		(14		)
Net hedge expense on assets		$	(17	)		$	(21	)		$	(35	)

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 9

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	First Quarter 2017						Fourth Quarter 2016						First Quarter 2016
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	52,193	$	1	0.01	%	$	50,132	$	1	0.01	%	$	47,845	$	1	0.01	%
NOW and money market deposit accounts	617,749		74		0.05		604,155		78		0.05		577,779		71		0.05
Consumer CDs and IRAs	46,711		31		0.27		47,625		32		0.27		49,617		35		0.28
Negotiable CDs, public funds and other deposits	33,695		52		0.63		34,904		53		0.60		31,739		29		0.37
Total U.S. interest-bearing deposits	750,348		158		0.09		736,816		164		0.09		706,980		136		0.08
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,616		5		0.76		2,918		4		0.48		4,123		9		0.84
Governments and official institutions	1,013		2		0.81		1,346		2		0.74		1,472		2		0.53
Time, savings and other	58,418		117		0.81		60,123		109		0.73		56,943		78		0.55
Total non-U.S. interest-bearing deposits	62,047		124		0.81		64,387		115		0.71		62,538		89		0.57
Total interest-bearing deposits	812,395		282		0.14		801,203		279		0.14		769,518		225		0.12
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	231,717		647		1.13		207,679		542		1.04		221,990		613		1.11
Trading account liabilities	69,695		264		1.53		71,598		240		1.33		72,299		292		1.63
Long-term debt	221,468		1,459		2.65		220,587		1,512		2.74		233,654		1,393		2.39
Total interest-bearing liabilities (1)	1,335,275		2,652		0.80		1,301,067		2,573		0.79		1,297,461		2,523		0.78
Noninterest-bearing sources:
Noninterest-bearing deposits	444,237						449,745						428,937
Other liabilities	183,805						186,867						187,101
Shareholders' equity	268,103						270,360						260,423
Total liabilities and shareholders' equity	$	2,231,420					$	2,208,039					$	2,173,922
Net interest spread					2.16	%					1.98	%					2.10	%
Impact of noninterest-bearing sources					0.23						0.25						0.23
Net interest income/yield on earning assets			$	11,255	2.39	%			$	10,526	2.23	%			$	10,700	2.33	%

⁽¹⁾  The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

	First Quarter 2017				Fourth Quarter 2016				First Quarter 2016
Consumer CDs and IRAs		$	6			$	6			$	6
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		5				5				1
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		92				94				162
Long-term debt		(530		)		(440		)		(737		)
Net hedge income on liabilities		$	(424	)		$	(332	)		$	(565	)

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	March 31, 2017
	Amortized Cost			Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	190,684		$	553	$	(2,194	)	$	189,043
Agency-collateralized mortgage obligations	7,848			78		(49		)	7,877
Commercial	12,809			27		(264		)	12,572
Non-agency residential	1,758			209		(24		)	1,943
Total mortgage-backed securities	213,099			867		(2,531		)	211,435
U.S. Treasury and agency securities	51,056			168		(666		)	50,558
Non-U.S. securities	6,744			13		(4		)	6,753
Other taxable securities, substantially all asset-backed securities	9,754			76		(11		)	9,819
Total taxable securities	280,653			1,124		(3,212		)	278,565
Tax-exempt securities	17,443			80		(188		)	17,335
Total available-for-sale debt securities	298,096			1,204		(3,400		)	295,900
Less: Available-for-sale securities of business held for sale	(691		)	—		—			(691		)
Other debt securities carried at fair value	16,714			164		(75		)	16,803
Total debt securities carried at fair value	314,119			1,368		(3,475		)	312,012
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	116,033			166		(2,196		)	114,003
Total debt securities	$	430,152		$	1,534	$	(5,671	)	$	426,015
Available-for-sale marketable equity securities (1)	$	8		$	57	$	—		$	65
	December 31, 2016
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	190,809		$	640	$	(1,963	)	$	189,486
Agency-collateralized mortgage obligations	8,296			85		(51		)	8,330
Commercial	12,594			21		(293		)	12,322
Non-agency residential	1,863			181		(31		)	2,013
Total mortgage-backed securities	213,562			927		(2,338		)	212,151
U.S. Treasury and agency securities	48,800			204		(752		)	48,252
Non-U.S. securities	6,372			13		(3		)	6,382
Other taxable securities, substantially all asset-backed securities	10,573			64		(23		)	10,614
Total taxable securities	279,307			1,208		(3,116		)	277,399
Tax-exempt securities	17,272			72		(184		)	17,160
Total available-for-sale debt securities	296,579			1,280		(3,300		)	294,559
Less: Available-for-sale securities of business held for sale	(619		)	—		—			(619		)
Other debt securities carried at fair value	19,748			121		(149		)	19,720
Total debt securities carried at fair value	315,708			1,401		(3,449		)	313,660
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	117,071			248		(2,034		)	115,285
Total debt securities	$	432,779		$	1,649	$	(5,483	)	$	428,945
Available-for-sale marketable equity securities (1)	$	325		$	51	$	(1	)	$	375

⁽¹⁾  Classified in other assets on the Consolidated Balance Sheet.

Other Debt Securities Carried at Fair Value
(Dollars in millions)	March 31 2017		December 31 2016
Mortgage-backed securities:
Agency-collateralized mortgage obligations	$	5	$	5
Non-agency residential	3,082		3,139
Total mortgage-backed securities	3,087		3,144
Non-U.S. securities (1)	13,482		16,336
Other taxable securities, substantially all asset-backed securities	234		240
Total	$	16,803	$	19,720

⁽¹⁾  These securities are primarily used to satisfy certain international regulatory liquidity requirements.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 11

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Fully taxable-equivalent (FTE) basis data(1)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income	$	11,255		$	10,526		$	10,429		$	10,341		$	10,700
Total revenue, net of interest expense	22,445			20,224			21,863			21,509			21,005
Net interest yield	2.39		%	2.23		%	2.23		%	2.23		%	2.33		%
Efficiency ratio	66.15			65.08			61.66			62.73			70.54

⁽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 a more accurate picture of 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. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 37-38.)

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 12

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	First Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	11,255	$	5,781	$	1,560	$	2,774	$	1,049		$	91
Card income	1,449		1,224		36		125		22			42
Service charges	1,918		1,050		20		765		77			6
Investment and brokerage services	3,262		69		2,648		17		531			(3		)
Investment banking income (loss)	1,584		—		51		925		666			(58		)
Trading account profits	2,331		—		59		33		2,177			62
Mortgage banking income	122		119		1		—		—			2
Gains on sales of debt securities	52		—		—		—		—			52
Other income (loss)	472		41		217		316		186			(288		)
Total noninterest income	11,190		2,503		3,032		2,181		3,659			(185		)
Total revenue, net of interest expense (FTE basis)	22,445		8,284		4,592		4,955		4,708			(94		)
Provision for credit losses	835		838		23		17		(17		)	(26		)
Noninterest expense	14,848		4,406		3,333		2,163		2,757			2,189
Income (loss) before income taxes (FTE basis)	6,762		3,040		1,236		2,775		1,968			(2,257		)
Income tax expense (benefit) (FTE basis)	1,906		1,146		466		1,046		671			(1,423		)
Net income (loss)	$	4,856	$	1,894	$	770	$	1,729	$	1,297		$	(834	)
Average
Total loans and leases	$	914,144	$	257,945	$	148,405	$	342,857	$	70,064		$	94,873
Total assets (1)	2,231,420		707,647		293,432		415,856		607,010			207,475
Total deposits	1,256,632		635,594		257,386		304,137		33,158			26,357
Period end
Total loans and leases (2)	$	915,747	$	258,421	$	149,110	$	344,451	$	71,053		$	92,712
Total assets (1)	2,247,701		734,087		291,177		416,710		604,015			201,712
Total deposits	1,272,141		661,607		254,595		296,178		33,629			26,132
	Fourth Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	10,526	$	5,465	$	1,449	$	2,502	$	1,167		$	(57	)
Card income	1,502		1,290		38		117		12			45
Service charges	1,978		1,062		18		810		81			7
Investment and brokerage services	3,202		65		2,598		24		518			(3		)
Investment banking income (loss)	1,222		—		47		654		554			(33		)
Trading account profits (losses)	1,081		—		52		40		1,149			(160		)
Mortgage banking income	519		207		1		—		—			311
Other income (loss)	194		22		174		387		(8		)	(381		)
Total noninterest income	9,698		2,646		2,928		2,032		2,306			(214		)
Total revenue, net of interest expense (FTE basis)	20,224		8,111		4,377		4,534		3,473			(271		)
Provision for credit losses	774		760		22		13		8			(29		)
Noninterest expense	13,161		4,330		3,359		2,036		2,482			954
Income (loss) before income taxes (FTE basis)	6,289		3,021		996		2,485		983			(1,196		)
Income tax expense (benefit) (FTE basis)	1,593		1,101		362		906		325			(1,101		)
Net income (loss)	$	4,696	$	1,920	$	634	$	1,579	$	658		$	(95	)
Average
Total loans and leases	$	908,396	$	253,602	$	146,180	$	337,827	$	70,615		$	100,172
Total assets (1)	2,208,039		686,985		291,761		403,564		595,276			230,453
Total deposits	1,250,948		617,967		256,629		314,133		33,775			28,444
Period end
Total loans and leases (2)	$	915,897	$	258,991	$	148,179	$	339,271	$	72,743		$	96,713
Total assets (1)	2,187,702		702,333		298,931		408,268		566,060			212,110
Total deposits	1,260,934		632,786		262,530		306,430		34,927			24,261

⁽¹⁾  Total assets include asset allocations to match liabilities (i.e., deposits).

⁽²⁾  Includes $9.5 billion and $9.2 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet and in All Other at March 31, 2017 and December 31, 2016.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 13

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	First Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets		All Other
Net interest income (FTE basis)	$	10,700	$	5,328	$	1,513	$	2,545		$	1,184	$	130
Card income	1,430		1,211		48		117			10		44
Service charges	1,837		997		19		745			72		4
Investment and brokerage services	3,182		69		2,536		16			568		(7		)
Investment banking income (loss)	1,153		1		73		636			494		(51		)
Trading account profits (losses)	1,662		—		36		(2		)	1,595		33
Mortgage banking income	433		190		1		—			—		242
Gains on sales of debt securities	190		—		—		—			—		190
Other income (loss)	418		61		243		397			28		(311		)
Total noninterest income	10,305		2,529		2,956		1,909			2,767		144
Total revenue, net of interest expense (FTE basis)	21,005		7,857		4,469		4,454			3,951		274
Provision for credit losses	997		531		25		553			9		(121		)
Noninterest expense	14,816		4,538		3,273		2,174			2,449		2,382
Income (loss) before income taxes (FTE basis)	5,192		2,788		1,171		1,727			1,493		(1,987		)
Income tax expense (benefit) (FTE basis)	1,720		1,024		430		635			520		(889		)
Net income (loss)	$	3,472	$	1,764	$	741	$	1,092		$	973	$	(1,098	)
Average
Total loans and leases	$	892,984	$	237,908	$	139,098	$	328,643		$	69,283	$	118,052
Total assets (1)	2,173,922		646,516		295,710		391,775			581,226		258,695
Total deposits	1,198,455		578,193		260,482		297,134			35,886		26,760
Period end
Total loans and leases	$	901,113	$	240,591	$	139,690	$	333,604		$	73,446	$	113,782
Total assets (1)	2,185,726		666,292		296,199		394,736			581,150		247,349
Total deposits	1,217,261		597,796		260,565		298,072			34,403		26,425

⁽¹⁾  Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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 Segment Results
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income (FTE basis)	$	5,781		$	5,465		$	5,289		$	5,207		$	5,328
Noninterest income:
Card income	1,224			1,290			1,218			1,216			1,211
Service charges	1,050			1,062			1,072			1,011			997
Mortgage banking income	119			207			297			267			190
All other income	110			87			92			94			131
Total noninterest income	2,503			2,646			2,679			2,588			2,529
Total revenue, net of interest expense (FTE basis)	8,284			8,111			7,968			7,795			7,857
Provision for credit losses	838			760			698			726			531
Noninterest expense	4,406			4,330			4,371			4,415			4,538
Income before income taxes (FTE basis)	3,040			3,021			2,899			2,654			2,788
Income tax expense (FTE basis)	1,146			1,101			1,086			978			1,024
Net income	$	1,894		$	1,920		$	1,813		$	1,676		$	1,764
Net interest yield (FTE basis)	3.50		%	3.35		%	3.30		%	3.34		%	3.53		%
Return on average allocated capital (1)	21			22			21			20			21
Efficiency ratio (FTE basis)	53.19			53.38			54.86			56.64			57.77
Balance Sheet
Average
Total loans and leases	$	257,945		$	253,602		$	248,683		$	242,921		$	237,908
Total earning assets (2)	668,865			648,299			636,832			627,225			607,302
Total assets (2)	707,647			686,985			674,630			665,096			646,516
Total deposits	635,594			617,967			605,705			596,471			578,193
Allocated capital (1)	37,000			34,000			34,000			34,000			34,000
Period end
Total loans and leases	$	258,421		$	258,991		$	251,125		$	247,122		$	240,591
Total earning assets (2)	694,883			662,698			648,972			630,449			626,934
Total assets (2)	734,087			702,333			687,241			668,464			666,292
Total deposits	661,607			632,786			618,027			599,454			597,796

⁽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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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)
	First Quarter 2017
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,781		$	3,063		$	2,718
Noninterest income:
Card income	1,224			2			1,222
Service charges	1,050			1,050			—
Mortgage banking income	119			—			119
All other income	110			102			8
Total noninterest income	2,503			1,154			1,349
Total revenue, net of interest expense (FTE basis)	8,284			4,217			4,067
Provision for credit losses	838			55			783
Noninterest expense	4,406			2,523			1,883
Income before income taxes (FTE basis)	3,040			1,639			1,401
Income tax expense (FTE basis)	1,146			618			528
Net income	$	1,894		$	1,021		$	873
Net interest yield (FTE basis)	3.50		%	1.96		%	4.34		%
Return on average allocated capital (1)	21			35			14
Efficiency ratio (FTE basis)	53.19			59.85			46.29
Balance Sheet
Average
Total loans and leases	$	257,945		$	4,979		$	252,966
Total earning assets (2)	668,865			634,704			254,066
Total assets (2)	707,647			661,769			265,783
Total deposits	635,594			629,337			6,257
Allocated capital (1)	37,000			12,000			25,000
Period end
Total loans and leases	$	258,421		$	4,938		$	253,483
Total earning assets (2)	694,883			660,888			254,291
Total assets (2)	734,087			688,277			266,106
Total deposits	661,607			655,714			5,893
	Fourth Quarter 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,465		$	2,761		$	2,704
Noninterest income:
Card income	1,290			1			1,289
Service charges	1,062			1,062			—
Mortgage banking income	207			—			207
All other income (loss)	87			92			(5		)
Total noninterest income	2,646			1,155			1,491
Total revenue, net of interest expense (FTE basis)	8,111			3,916			4,195
Provision for credit losses	760			42			718
Noninterest expense	4,330			2,450			1,880
Income before income taxes (FTE basis)	3,021			1,424			1,597
Income tax expense (FTE basis)	1,101			519			582
Net income	$	1,920		$	905		$	1,015
Net interest yield (FTE basis)	3.35		%	1.78		%	4.30		%
Return on average allocated capital (1)	22			30			18
Efficiency ratio (FTE basis)	53.38			62.56			44.82
Balance Sheet
Average
Total loans and leases	$	253,602		$	4,874		$	248,728
Total earning assets (2)	648,299			616,297			250,115
Total assets (2)	686,985			642,837			262,261
Total deposits	617,967			610,533			7,434
Allocated capital (1)	34,000			12,000			22,000
Period end
Total loans and leases	$	258,991		$	4,938		$	254,053
Total earning assets (2)	662,698			631,172			255,511
Total assets (2)	702,333			658,316			268,002
Total deposits	632,786			625,727			7,059

For footnotes see page 17.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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 Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,328		$	2,692		$	2,636
Noninterest income:
Card income	1,211			3			1,208
Service charges	997			997			—
Mortgage banking income	190			—			190
All other income	131			115			16
Total noninterest income	2,529			1,115			1,414
Total revenue, net of interest expense (FTE basis)	7,857			3,807			4,050
Provision for credit losses	531			48			483
Noninterest expense	4,538			2,455			2,083
Income before income taxes (FTE basis)	2,788			1,304			1,484
Income tax expense (FTE basis)	1,024			479			545
Net income	$	1,764		$	825		$	939
Net interest yield (FTE basis)	3.53		%	1.88		%	4.52		%
Return on average allocated capital (1)	21			28			17
Efficiency ratio (FTE basis)	57.77			64.50			51.43
Balance Sheet
Average
Total loans and leases	$	237,908		$	4,732		$	233,176
Total earning assets (2)	607,302			576,634			234,362
Total assets (2)	646,516			603,429			246,781
Total deposits	578,193			571,462			6,731
Allocated capital (1)	34,000			12,000			22,000
Period end
Total loans and leases	$	240,591		$	4,737		$	235,854
Total earning assets (2)	626,934			596,057			236,962
Total assets (2)	666,292			622,783			249,594
Total deposits	597,796			590,829			6,967

⁽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⁾  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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Average deposit balances
Checking	$	315,772		$	306,598		$	299,147		$	293,425		$	282,143
Savings	50,544			48,549			48,273			48,472			46,221
MMS	224,563			217,394			212,096			207,333			201,616
CDs and IRAs	41,923			42,592			43,420			44,378			45,451
Non-U.S. and other	2,792			2,834			2,769			2,863			2,762
Total average deposit balances	$	635,594		$	617,967		$	605,705		$	596,471		$	578,193
Deposit spreads (excludes noninterest costs)
Checking	1.94		%	1.92		%	1.94		%	1.97		%	1.98		%
Savings	2.21			2.21			2.24			2.26			2.28
MMS	1.24			1.22			1.23			1.24			1.24
CDs and IRAs	1.29			1.17			1.03			0.92			0.81
Non-U.S. and other	1.16			1.00			0.87			0.80			0.67
Total deposit spreads	1.67			1.64			1.64			1.66			1.65
Client brokerage assets	$	153,786		$	144,696		$	137,985		$	131,698		$	126,921
Digital banking active users (units in thousands)	34,527			33,811			33,722			33,022			32,647
Mobile banking active users (units in thousands)	22,217			21,648			21,305			20,227			19,595
Financial centers	4,559			4,579			4,629			4,681			4,689
ATMs	15,939			15,928			15,959			15,998			16,003
Total U.S. credit card(1)
Loans
Average credit card outstandings	$	89,628		$	89,521		$	88,210		$	86,705		$	87,163
Ending credit card outstandings	88,552			92,278			88,789			88,103			86,403
Credit quality
Net charge-offs	$	606		$	566		$	543		$	573		$	587
	2.74		%	2.52		%	2.45		%	2.66		%	2.71		%
30+ delinquency	$	1,580		$	1,595		$	1,459		$	1,388		$	1,448
	1.78		%	1.73		%	1.64		%	1.58		%	1.68		%
90+ delinquency	$	801		$	782		$	702		$	693		$	743
	0.90		%	0.85		%	0.79		%	0.79		%	0.86		%
Other Total U.S. credit card indicators (1)
Gross interest yield	9.55		%	9.35		%	9.30		%	9.20		%	9.32		%
Risk adjusted margin	8.89			9.20			9.11			8.79			9.05
New accounts (in thousands)	1,184			1,134			1,324			1,313			1,208
Purchase volumes	$	55,321		$	61,020		$	57,591		$	56,667		$	51,154
Debit card data
Purchase volumes	$	70,611		$	73,296		$	71,049		$	72,120		$	69,147

For footnotes see page 19.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 18

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	First Quarter 2017				Fourth Quarter 2016				Third Quarter 2016				Second Quarter 2016				First Quarter 2016
Loan production (2):
Total (3):
First mortgage	$	11,442			$	18,351			$	16,865			$	16,314			$	12,623
Home equity	4,053				3,565				3,541				4,303				3,805
Consumer Banking:
First mortgage	$	7,629			$	12,303			$	11,588			$	11,541			$	9,078
Home equity	3,667				3,140				3,139				3,881				3,515
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	2,278			$	2,012			$	1,789			$	2,152			$	2,680
Net additions	35				(36		)		45				25				57
Amortization of expected cash flows (4)	(147		)		(156		)		(157		)		(165		)		(171		)
Other changes in mortgage servicing rights fair value (5)	(37		)		458				335				(223		)		(414		)
Balance, end of period (6)	$	2,129			$	2,278			$	2,012			$	1,789			$	2,152
Capitalized mortgage servicing rights (% of loans serviced for investors)	72			bps	74			bps	60			bps	51			bps	58			bps
Mortgage loans serviced for investors (in billions)	$	296			$	307			$	336			$	353			$	368
Mortgage banking income
Consumer Banking mortgage banking income
Total production income	$	54			$	131			$	212			$	182			$	138
Net servicing income
Servicing fees	157				166				179				179				184
Other net servicing income	(92		)		(90		)		(94		)		(94		)		(132		)
Total net servicing income	65				76				85				85				52
Total Consumer Banking mortgage banking income	119				207				297				267				190
Other mortgage banking income (predominately in All Other)  (7)
Net servicing income (loss)	(15		)		288				390				53				193
Other	18				24				(98		)		(8		)		50
Total other mortgage banking income (predominately in All Other)	3				312				292				45				243
Total consolidated mortgage banking income	$	122			$	519			$	589			$	312			$	433

⁽¹⁾  In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.

⁽²⁾  The above 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.

⁽³⁾  In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

⁽⁴⁾  Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.

⁽⁵⁾  These amounts reflect the changes in modeled MSR fair value primarily due to observed changes in interest rates, periodic adjustments to the valuation model and changes in cash flow assumptions.

⁽⁶⁾  Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.

⁽⁷⁾  Amounts for other mortgage banking income are included in this Consumer Banking table to show the components of consolidated mortgage banking income.

Certain prior period amounts have been reclassified to conform to current period presentation.

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 Wealth & Investment Management Segment Results
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income (FTE basis)	$	1,560		$	1,449		$	1,394		$	1,403		$	1,513
Noninterest income:
Investment and brokerage services	2,648			2,598			2,585			2,598			2,536
All other income	384			330			400			424			420
Total noninterest income	3,032			2,928			2,985			3,022			2,956
Total revenue, net of interest expense (FTE basis)	4,592			4,377			4,379			4,425			4,469
Provision for credit losses	23			22			7			14			25
Noninterest expense	3,333			3,359			3,255			3,288			3,273
Income before income taxes (FTE basis)	1,236			996			1,117			1,123			1,171
Income tax expense (FTE basis)	466			362			419			420			430
Net income	$	770		$	634		$	698		$	703		$	741
Net interest yield (FTE basis)	2.28		%	2.09		%	2.03		%	2.06		%	2.18		%
Return on average allocated capital (1)	22			19			21			22			23
Efficiency ratio (FTE basis)	72.58			76.73			74.31			74.29			73.25
Balance Sheet
Average
Total loans and leases	$	148,405		$	146,180		$	143,207		$	141,180		$	139,098
Total earning assets (2)	277,989			276,172			273,567			273,873			279,605
Total assets (2)	293,432			291,761			288,820			289,645			295,710
Total deposits	257,386			256,629			253,812			254,804			260,482
Allocated capital (1)	14,000			13,000			13,000			13,000			13,000
Period end
Total loans and leases	$	149,110		$	148,179		$	144,980		$	142,633		$	139,690
Total earning assets (2)	275,214			283,151			274,288			270,973			280,117
Total assets (2)	291,177			298,931			289,794			286,846			296,199
Total deposits	254,595			262,530			252,962			250,976			260,565

⁽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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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 Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2017		Fourth Quarter 2016			Third Quarter 2016		Second Quarter 2016			First Quarter 2016
Revenue by Business
Merrill Lynch Global Wealth Management	$	3,782	$	3,600		$	3,617	$	3,602		$	3,667
U.S. Trust	809		775			761		762			777
Other (1)	1		2			1		61			25
Total revenue, net of interest expense (FTE basis)	$	4,592	$	4,377		$	4,379	$	4,425		$	4,469
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,167,536	$	2,102,175		$	2,089,683	$	2,026,392		$	1,998,145
U.S. Trust	417,841		406,392			400,538		393,089			390,262
Other (1)	—		—			—		—			77,751
Total client balances	$	2,585,377	$	2,508,567		$	2,490,221	$	2,419,481		$	2,466,158
Client Balances by Type, at period end
Long-term assets under management (2)	$	946,778	$	886,148		$	871,026	$	832,394		$	812,916
Liquidity assets under management (1, 3)	—		—			—		—			77,747
Assets under management	946,778		886,148			871,026		832,394			890,663
Brokerage assets	1,106,109		1,085,826			1,095,635		1,070,014			1,056,752
Assets in custody	126,086		123,066			122,804		120,505			115,537
Deposits	254,595		262,530			252,962		250,976			260,565
Loans and leases (4)	151,809		150,997			147,794		145,592			142,641
Total client balances	$	2,585,377	$	2,508,567		$	2,490,221	$	2,419,481		$	2,466,158
Assets Under Management Rollforward
Assets under management, beginning balance	$	886,148	$	871,026		$	832,394	$	890,663		$	900,863
Net long-term client flows	29,214		18,934			10,182		10,055			(599		)
Net liquidity client flows	—		—			—		(4,170		)	(3,820		)
Market valuation/other (1)	31,416		(3,812		)	28,450		(64,154		)	(5,781		)
Total assets under management, ending balance	$	946,778	$	886,148		$	871,026	$	832,394		$	890,663
Associates, at period end(5, 6)
Number of financial advisors	16,576		16,830			16,731		16,665			16,671
Total wealth advisors, including financial advisors	18,435		18,688			18,585		18,503			18,486
Total primary sales professionals, including financial advisors and wealth advisors	19,431		19,629			19,443		19,340			19,366
Merrill Lynch Global Wealth Management Metric(6)
Financial advisor productivity (7) (in thousands)	$	999	$	964		$	983	$	984		$	984
U.S. Trust Metric, at period end (6)
Primary sales professionals	1,671		1,678			1,657		1,642			1,595

⁽¹⁾  Includes the results of BofA Global Capital Management, the cash management division of Bank of America, and certain administrative items. Also reflects the sale to a third party of approximately $80 billion of BofA Global Capital Management's AUM during the three months ended June 30, 2016.

⁽²⁾  Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.

⁽³⁾  Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks current income, while maintaining liquidity and capital preservation. The duration of these strategies is primarily less than one year.

⁽⁴⁾  Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

⁽⁵⁾  Includes financial advisors in the Consumer Banking segmentof 2,092, 2,201, 2,179, 2,248 and 2,259 at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽⁶⁾  Associate headcount computation is based upon full-time equivalents.

⁽⁷⁾  Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue, excluding the allocation of certain ALM activities, divided by the total number of financial advisors (excluding financial advisors in the Consumer Banking segment).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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 Banking Segment Results
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income (FTE basis)	$	2,774		$	2,502		$	2,470		$	2,425		$	2,545
Noninterest income:
Service charges	765			810			780			759			745
Investment banking fees	925			654			796			799			636
All other income	491			568			702			711			528
Total noninterest income	2,181			2,032			2,278			2,269			1,909
Total revenue, net of interest expense (FTE basis)	4,955			4,534			4,748			4,694			4,454
Provision for credit losses	17			13			118			199			553
Noninterest expense	2,163			2,036			2,151			2,125			2,174
Income before income taxes (FTE basis)	2,775			2,485			2,479			2,370			1,727
Income tax expense (FTE basis)	1,046			906			926			873			635
Net income	$	1,729		$	1,579		$	1,553		$	1,497		$	1,092
Net interest yield (FTE basis)	3.08		%	2.81		%	2.83		%	2.81		%	3.00		%
Return on average allocated capital (1)	18			17			17			16			12
Efficiency ratio (FTE basis)	43.66			44.90			45.31			45.26			48.80
Balance Sheet
Average
Total loans and leases	$	342,857		$	337,827		$	334,363		$	334,396		$	328,643
Total earning assets (2)	365,775			353,693			347,462			347,347			341,387
Total assets (2)	415,856			403,564			395,423			395,997			391,775
Total deposits	304,137			314,133			306,198			298,805			297,134
Allocated capital (1)	40,000			37,000			37,000			37,000			37,000
Period end
Total loans and leases	$	344,451		$	339,271		$	334,120		$	334,838		$	333,604
Total earning assets (2)	366,567			356,241			349,993			348,935			345,355
Total assets (2)	416,710			408,268			397,795			397,566			394,736
Total deposits	296,178			306,430			301,061			304,577			298,072

⁽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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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 Banking Key Indicators
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Investment Banking fees (1)
Advisory (2)	$	390		$	243		$	295		$	313		$	305
Debt issuance	412			347			405			390			265
Equity issuance	123			64			96			96			66
Total Investment Banking fees (3)	$	925		$	654		$	796		$	799		$	636
Business Lending
Corporate	$	1,102		$	1,016		$	1,113		$	1,102		$	1,054
Commercial	1,044			1,011			1,069			1,051			1,009
Business Banking	101			96			91			92			97
Total Business Lending revenue	$	2,247		$	2,123		$	2,273		$	2,245		$	2,160
Global Transaction Services
Corporate	$	797		$	811		$	741		$	715		$	715
Commercial	707			682			671			663			702
Business Banking	197			190			182			180			187
Total Global Transaction Services revenue	$	1,701		$	1,683		$	1,594		$	1,558		$	1,604
Average deposit balances
Interest-bearing	$	70,802		$	73,108		$	72,442		$	69,761		$	65,719
Noninterest-bearing	233,335			241,025			233,756			229,044			231,415
Total average deposits	$	304,137		$	314,133		$	306,198		$	298,805		$	297,134
Loan spread	1.65		%	1.57		%	1.63		%	1.62		%	1.67		%
Provision for credit losses	$	17		$	13		$	118		$	199		$	553
Credit quality (4, 5)
Reservable utilized criticized exposure	$	14,567		$	14,841		$	15,460		$	16,544		$	16,923
	3.95		%	4.08		%	4.31		%	4.59		%	4.73		%
Nonperforming loans, leases and foreclosed properties	$	1,527		$	1,528		$	1,800		$	1,450		$	1,316
	0.44		%	0.45		%	0.54		%	0.43		%	0.40		%
Average loans and leases by product
U.S. commercial	$	198,620		$	194,692		$	190,032		$	190,273		$	186,634
Commercial real estate	48,818			48,741			48,714			49,120			48,908
Commercial lease financing	23,152			22,505			22,231			21,891			22,074
Non-U.S. commercial	72,261			71,887			73,384			73,105			71,015
Other	6			2			2			7			12
Total average loans and leases	$	342,857		$	337,827		$	334,363		$	334,396		$	328,643
Total Corporation Investment Banking fees
Advisory (2)	$	405		$	262		$	328		$	333		$	346
Debt issuance	926			810			908			889			669
Equity issuance	312			183			261			232			188
Total investment banking fees including self-led deals	1,643			1,255			1,497			1,454			1,203
Self-led deals	(59		)	(33		)	(39		)	(46		)	(50		)
Total Investment Banking fees	$	1,584		$	1,222		$	1,458		$	1,408		$	1,153

⁽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 utilized reservable criticized 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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Three Months Ended March 31, 2017
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.6	%	3	9.2	%
Announced mergers and acquisitions	3	16.7		4	19.1
Equity capital markets	3	5.5		3	9.9
Debt capital markets	3	6.3		3	9.3
High-yield corporate debt	2	8.6		2	10.1
Leveraged loans	1	9.5		1	10.6
Mortgage-backed securities	4	9.0		5	10.0
Asset-backed securities	1	17.2		1	19.8
Convertible debt	4	5.8		2	13.6
Common stock underwriting	4	5.5		4	9.1
Investment-grade corporate debt	4	5.8		2	9.8
Syndicated loans	1	10.5		1	13.0

Source: Dealogic data as of April 7, 2017. Figures above include self-led transactions.

• Rankings based on deal volumes except for net investment banking revenue rankings which reflect fees.

• Debt capital markets excludes loans but includes agencies.

• Mergers and acquisitions fees included in investment banking revenues reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.

• Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising either side of the transaction.

• Each advisor receives full credit for the deal amount unless advising a minor stakeholder.

Highlights

Global top 3 rankings in:
High-yield corporate debt	Announced mergers and acquisitions
Leveraged loans	Equity capital markets
Asset-backed securities	Debt capital markets
Syndicated loans
U.S. top 3 rankings in:
High-yield corporate debt	Investment-grade corporate debt
Leveraged loans	Syndicated loans
Asset-backed securities	Equity capital markets
Convertible debt	Debt capital markets

Top 3 rankings excluding self-led deals:

Global: High-yield corporate debt, Leveraged loans, Asset-backed securities, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions, Equity capital markets, Debt capital markets

U.S.: High-yield corporate debt, Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Equity capital markets, Debt capital markets

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

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income (FTE basis)	$	1,049		$	1,167		$	1,119		$	1,088		$	1,184
Noninterest income:
Investment and brokerage services	531			518			490			525			568
Investment banking fees	666			554			645			603			494
Trading account profits	2,177			1,149			1,934			1,872			1,595
All other income	285			85			170			221			110
Total noninterest income	3,659			2,306			3,239			3,221			2,767
Total revenue, net of interest expense (FTE basis) (1)	4,708			3,473			4,358			4,309			3,951
Provision for credit losses	(17		)	8			19			(5		)	9
Noninterest expense	2,757			2,482			2,656			2,583			2,449
Income before income taxes (FTE basis)	1,968			983			1,683			1,731			1,493
Income tax expense (FTE basis)	671			325			609			618			520
Net income	$	1,297		$	658		$	1,074		$	1,113		$	973
Return on average allocated capital (2)	15		%	7		%	12		%	12		%	11		%
Efficiency ratio (FTE basis)	58.56			71.45			60.94			59.95			62.01
Balance Sheet
Average
Total trading-related assets (3)	$	422,359		$	417,184		$	415,417		$	411,285		$	407,661
Total loans and leases	70,064			70,615			69,043			69,620			69,283
Total earning assets (3)	429,906			430,601			422,636			422,815			418,198
Total assets	607,010			595,276			584,069			580,701			581,226
Total deposits	33,158			33,775			32,840			34,518			35,886
Allocated capital (2)	35,000			37,000			37,000			37,000			37,000
Period end
Total trading-related assets (3)	$	418,259		$	380,562		$	417,517		$	405,037		$	408,223
Total loans and leases	71,053			72,743			72,144			70,766			73,446
Total earning assets (3)	425,582			397,023			435,112			416,325			422,268
Total assets	604,015			566,060			595,165			577,428			581,150
Total deposits	33,629			34,927			31,692			33,506			34,403
Trading-related assets (average)
Trading account securities	$	203,866		$	188,729		$	185,785		$	178,047		$	187,931
Reverse repurchases	96,835			91,198			89,435			92,805			85,411
Securities borrowed	81,312			90,643			87,872			89,779			80,807
Derivative assets	40,346			46,614			52,325			50,654			53,512
Total trading-related assets (3)	$	422,359		$	417,184		$	415,417		$	411,285		$	407,661

⁽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 26.

⁽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.

⁽³⁾  Trading-related assets include derivative assets, which are considered non-earning assets.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	First Quarter 2017		Fourth Quarter 2016		Third Quarter 2016		Second Quarter 2016		First Quarter 2016
Sales and trading revenue (1)
Fixed income, currency and commodities	$	2,810	$	1,866	$	2,646	$	2,456	$	2,405
Equities	1,089		945		954		1,081		1,037
Total sales and trading revenue	$	3,899	$	2,811	$	3,600	$	3,537	$	3,442
Sales and trading revenue, excluding debit valuation adjustment (2)
Fixed income, currency and commodities	$	2,930	$	1,964	$	2,767	$	2,615	$	2,265
Equities	1,099		948		960		1,086		1,023
Total sales and trading revenue, excluding debit valuation adjustment	$	4,029	$	2,912	$	3,727	$	3,701	$	3,288
Sales and trading revenue breakdown
Net interest income	$	929	$	1,061	$	1,024	$	991	$	1,079
Commissions	524		510		485		517		559
Trading	2,176		1,147		1,934		1,871		1,595
Other	270		93		157		158		209
Total sales and trading revenue	$	3,899	$	2,811	$	3,600	$	3,537	$	3,442

⁽¹⁾  Includes Global Banking sales and trading revenue of $58 million, $68 million, $57 million, $120 million and $159 million for the first quarter of 2017, and the fourth, third, second and first quarters of 2016.

⁽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 for all periods. 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.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Net interest income (FTE basis)	$	91		$	(57	)	$	157		$	218		$	130
Noninterest income:
Card income	42			45			46			54			44
Mortgage banking income	2			311			292			44			242
Gains on sales of debt securities	52			—			51			249			190
All other loss	(281		)	(570		)	(136		)	(279		)	(332		)
Total noninterest income	(185		)	(214		)	253			68			144
Total revenue, net of interest expense (FTE basis)	(94		)	(271		)	410			286			274
Provision for credit losses	(26		)	(29		)	8			42			(121		)
Noninterest expense	2,189			954			1,048			1,082			2,382
Loss before income taxes (FTE basis)	(2,257		)	(1,196		)	(646		)	(838		)	(1,987		)
Income tax benefit (FTE basis)	(1,423		)	(1,101		)	(463		)	(632		)	(889		)
Net loss	$	(834	)	$	(95	)	$	(183	)	$	(206	)	$	(1,098	)
Balance Sheet
Average
Total loans and leases	$	94,873		$	100,172		$	105,298		$	111,553		$	118,052
Total assets (2)	207,475			230,453			246,548			256,802			258,695
Total deposits	26,357			28,444			28,631			28,693			26,760
Period end
Total loans and leases (3)	$	92,712		$	96,713		$	102,639		$	107,794		$	113,782
Total assets (4)	201,712			212,110			225,319			256,662			247,349
Total deposits	26,132			24,261			29,153			27,578			26,425

⁽¹⁾  All Other consists of ALM activities, equity investments, the non-U.S. consumer credit card business, non-core mortgage loans and servicing activities, the net impact of periodic revisions to the MSR valuation model for both core and non-core MSRs and the related economic hedge results and ineffectiveness, other liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments. On December 20, 2016, the Corporation entered into an agreement to sell its non-U.S. consumer credit card business to a third party. Subject to regulatory approval, this transaction is expected to close by mid-2017.

⁽²⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $522.0 billion, $506.5 billion, $500.4 billion, $499.5 billion and $493.5 billion for the first quarter of 2017, and the fourth, third, second and first quarters of 2016.

⁽³⁾  Includes $9.5 billion and $9.2 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheetat March 31, 2017 and December 31, 2016.

⁽⁴⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $543.4 billion, $518.7 billion, $508.5 billion, $492.3 billion and $509.9 billion at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 27

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	March 31 2017			December 31 2016			March 31 2016
Consumer
Residential mortgage (1)	$	193,843		$	191,797		$	184,440
Home equity	63,915			66,443			73,771
U.S. credit card	88,552			92,278			86,403
Non-U.S. credit card	9,505			9,214			9,977
Direct/Indirect consumer (2)	92,794			94,089			90,609
Other consumer (3)	2,539			2,499			2,176
Total consumer loans excluding loans accounted for under the fair value option	451,148			456,320			447,376
Consumer loans accounted for under the fair value option (4)	1,032			1,051			1,946
Total consumer	452,180			457,371			449,322
Commercial
U.S. commercial (5)	288,170			283,365			273,636
Commercial real estate (6)	57,849			57,355			58,060
Commercial lease financing	21,873			22,375			20,957
Non-U.S. commercial	89,179			89,397			92,872
Total commercial loans excluding loans accounted for under the fair value option	457,071			452,492			445,525
Commercial loans accounted for under the fair value option (4)	6,496			6,034			6,266
Total commercial	463,567			458,526			451,791
Less: Loans of business held for sale (7)	(9,505		)	(9,214		)	—
Total loans and leases	$	906,242		$	906,683		$	901,113

⁽¹⁾  Includes pay option loans of $1.8 billion, $1.8 billion and $2.2 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. The Corporation no longer originates pay option loans.

⁽²⁾  Includes auto and specialty lending loans of $48.7 billion, $48.9 billion and $45.4 billion, unsecured consumer lending loans of $530 million, $585 million and $774 million, U.S. securities-based lending loans of $39.5 billion, $40.1 billion and $39.2 billion, non-U.S. consumer loans of $2.9 billion, $3.0 billion and $3.7 billion, student loans of $479 million, $497 million and $547 million and other consumer loans of $644 million, $1.1 billion and $1.0 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽³⁾  Includes consumer finance loans of $441 million, $465 million and $538 million, consumer leases of $2.0 billion, $1.9 billion and $1.5 billion and consumer overdrafts of $124 million, $157 million and $154 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁴⁾  Consumer loans accounted for under the fair value option were residential mortgage loans of $694 million, $710 million and $1.6 billion and home equity loans of $338 million, $341 million and $348 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $3.5 billion, $2.9 billion and $2.6 billion and non-U.S. commercial loans of $3.0 billion, $3.1 billion and $3.7 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁵⁾  Includes U.S. small business commercial loans, including card-related products, of $13.3 billion, $13.0 billion and $12.9 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁶⁾  Includes U.S. commercial real estate loans of $54.7 billion, $54.3 billion and $54.5 billion and non-U.S. commercial real estate loans of $3.1 billion, $3.1 billion and $3.5 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁷⁾  Includes non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 28

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	First Quarter 2017
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	193,627	$	58,521	$	66,151	$	5	$	—	$	68,950
Home equity	65,508		43,785		4,754		1		343		16,625
U.S. credit card	89,628		86,677		2,951		—		—		—
Non-U.S. credit card	9,367		—		—		—		—		9,367
Direct/Indirect consumer	93,291		49,448		43,351		—		—		492
Other consumer	2,547		2,086		4		—		—		457
Total consumer	453,968		240,517		117,211		6		343		95,891
Commercial
U.S. commercial	287,468		17,409		28,192		198,620		43,119		128
Commercial real estate	57,764		19		2,978		48,818		5,887		62
Commercial lease financing	22,123		—		3		23,152		189		(1,221		)
Non-U.S. commercial	92,821		—		21		72,261		20,526		13
Total commercial	460,176		17,428		31,194		342,851		69,721		(1,018		)
Total loans and leases (1)	$	914,144	$	257,945	$	148,405	$	342,857	$	70,064	$	94,873
	Fourth Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	191,003	$	53,967	$	63,566	$	2	$	—	$	73,468
Home equity	68,021		45,209		4,937		—		332		17,543
U.S. credit card	89,521		86,450		3,071		—		—		—
Non-U.S. credit card	9,051		—		—		—		—		9,051
Direct/Indirect consumer	93,527		48,839		44,178		—		—		510
Other consumer	2,462		1,976		5		—		—		481
Total consumer	453,585		236,441		115,757		2		332		101,053
Commercial
U.S. commercial	283,491		17,140		27,579		194,692		43,778		302
Commercial real estate	57,540		21		2,819		48,741		5,891		68
Commercial lease financing	21,436		—		3		22,505		211		(1,283		)
Non-U.S. commercial	92,344		—		22		71,887		20,403		32
Total commercial	454,811		17,161		30,423		337,825		70,283		(881		)
Total loans and leases (1)	$	908,396	$	253,602	$	146,180	$	337,827	$	70,615	$	100,172
	First Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	186,980	$	42,506	$	57,934	$	4	$	—	$	86,536
Home equity	75,328		48,136		5,467		4		303		21,418
U.S. credit card	87,163		84,207		2,956		—		—		—
Non-U.S. credit card	9,822		—		—		—		—		9,822
Direct/Indirect consumer	89,342		44,676		44,102		4		—		560
Other consumer	2,138		1,578		6		—		—		554
Total consumer	450,773		221,103		110,465		12		303		118,890
Commercial
U.S. commercial	270,511		16,783		26,227		186,634		40,503		364
Commercial real estate	57,271		22		2,342		48,908		5,889		110
Commercial lease financing	21,077		—		3		22,074		336		(1,336		)
Non-U.S. commercial	93,352		—		61		71,015		22,252		24
Total commercial	442,211		16,805		28,633		328,631		68,980		(838		)
Total loans and leases	$	892,984	$	237,908	$	139,098	$	328,643	$	69,283	$	118,052

⁽¹⁾  Includes, on an average basis, $9.4 billion and $9.1 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet and in All Other at March 31, 2017 and December 31, 2016.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 29

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	March 31 2017		December 31 2016		March 31 2016		March 31 2017			December 31 2016			March 31 2016
Diversified financials	$	78,211	$	81,156	$	77,650	$	121,369		$	124,535		$	124,704
Real estate (5)	63,384		61,203		62,867		85,286			83,658			87,438
Retailing	41,548		41,630		39,392		67,003			68,507			63,687
Capital goods	34,234		34,278		33,571		64,304			64,202			63,036
Healthcare equipment and services	38,737		37,656		37,555		62,117			64,663			62,650
Government and public education	45,843		45,694		46,030		54,354			54,626			54,303
Materials	23,645		22,578		23,511		46,485			44,357			45,321
Banking	38,184		39,877		44,939		45,320			47,799			51,163
Consumer services	28,994		27,413		25,381		44,141			42,523			39,232
Food, beverage and tobacco	21,205		19,669		19,561		41,273			37,145			39,535
Energy	18,002		19,686		21,849		37,920			39,231			43,494
Commercial services and supplies	21,372		21,241		21,643		34,164			35,360			33,761
Utilities	12,805		11,349		12,372		27,925			27,140			28,864
Transportation	19,645		19,805		19,753		27,609			27,483			27,355
Media	13,156		13,419		12,852		25,492			27,116			25,759
Individuals and trusts	16,404		16,364		16,152		22,854			21,764			21,134
Technology hardware and equipment	7,822		7,793		6,362		19,104			18,429			23,777
Software and services	9,540		7,991		8,256		19,084			19,790			16,882
Pharmaceuticals and biotechnology	5,943		5,539		6,067		18,858			18,910			17,607
Telecommunication services	7,020		6,317		5,038		17,593			16,925			11,290
Insurance, including monolines	6,724		7,406		4,941		13,779			13,936			10,592
Automobiles and components	5,744		5,459		4,952		13,111			12,969			11,317
Consumer durables and apparel	5,965		6,042		6,289		11,185			11,460			11,033
Food and staples retailing	5,724		4,795		4,504		9,565			8,869			9,330
Religious and social organizations	4,732		4,423		4,440		6,419			6,252			6,073
Other	9,639		6,109		5,820		16,645			13,432			10,971
Total commercial credit exposure by industry	$	584,222	$	574,892	$	571,747	$	952,959		$	951,081		$	940,308
Net credit default protection purchased on total commitments (6)							$	(3,099	)	$	(3,477	)	$	(7,078	)

⁽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 $35.5 billion, $43.3 billion and $44.0 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $23.2 billion, $22.9 billion and $22.0 billion which consists primarily of other marketable securities at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽²⁾  Total utilized and total committed exposure includes loans of $6.5 billion, $6.0 billion and $6.3 billion and issued letters of credit with a notional amount of $308 million, $284 million and $303 million accounted for under the fair value option at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $5.6 billion, $6.7 billion and $9.3 billion at March 31, 2017, December 31, 2016 and March 31, 2016, 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 borrowers' or counterparties' primary business activity using operating cash flows and primary source of repayment as key factors.

⁽⁶⁾  Represents net notional credit protection purchased.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 30

Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity (1)
	March 31 2017		December 31 2016
Less than or equal to one year	65	%	56	%
Greater than one year and less than or equal to five years	32		41
Greater than five years	3		3
Total net credit default protection	100	%	100	%

⁽¹⁾  To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown in this table.

Net Credit Default Protection by Credit Exposure Debt Rating (1)
(Dollars in millions)
	March 31, 2017					December 31, 2016
Ratings (2, 3)	Net Notional (4)			Percent of Total		Net Notional (4)			Percent of Total
A	$	(135	)	4.4	%	$	(135	)	3.9	%
BBB	(1,735		)	56.0		(1,884		)	54.2
BB	(723		)	23.3		(871		)	25.1
B	(416		)	13.4		(477		)	13.7
CCC and below	(67		)	2.2		(81		)	2.3
NR (5)	(23		)	0.7		(29		)	0.8
Total net credit default protection	$	(3,099	)	100.0	%	$	(3,477	)	100.0	%

⁽¹⁾ To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt ratings for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.

⁽²⁾  Ratings are refreshed on a quarterly basis.

⁽³⁾  Ratings of BBB- or higher are considered to meet the definition of investment grade.

⁽⁴⁾  Represents net credit default protection purchased.

⁽⁵⁾  NR is comprised of index positions held and any names that have not been rated.

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents (1)		Unfunded Loan Commitments		Net Counterparty Exposure		Securities/ Other Investments (2)		Country Exposure at March 31 2017		Hedges and Credit Default Protection (3)			Net Country Exposure at March 31 2017 (4)		Increase (Decrease) from December 31 2016
United Kingdom	$	34,566	$	15,773	$	6,235	$	1,431	$	58,005	$	(4,947	)	$	53,058	$	5,325
Germany	13,018		9,915		1,846		3,110		27,889		(4,187		)	23,702		1,324
Canada	7,127		7,099		1,750		2,425		18,401		(1,750		)	16,651		(2,123		)
Brazil	8,787		419		560		3,617		13,383		(273		)	13,110		(556		)
Japan	13,098		586		1,272		509		15,465		(2,843		)	12,622		(2,389		)
France	3,454		5,115		1,953		5,667		16,189		(4,959		)	11,230		536
China	9,139		696		670		1,208		11,713		(552		)	11,161		276
Australia	4,951		4,286		328		1,061		10,626		(456		)	10,170		1,247
India	6,497		205		366		2,353		9,421		(548		)	8,873		(355		)
Netherlands	4,363		3,024		1,042		1,633		10,062		(1,843		)	8,219		821
Hong Kong	5,727		199		438		770		7,134		(43		)	7,091		(388		)
South Korea	4,377		646		852		1,775		7,650		(585		)	7,065		959
Switzerland	3,965		3,951		368		221		8,505		(1,549		)	6,956		(2,690		)
Singapore	3,826		278		520		1,607		6,231		(60		)	6,171		753
Mexico	3,073		1,416		136		480		5,105		(383		)	4,722		238
Turkey	2,727		115		15		133		2,990		(1		)	2,989		299
Italy	1,835		960		532		787		4,114		(1,142		)	2,972		(1,115		)
United Arab Emirates	2,085		139		498		42		2,764		(89		)	2,675		(68		)
Belgium	1,186		683		118		746		2,733		(363		)	2,370		444
Taiwan	1,566		34		341		310		2,251		(1		)	2,250		169
Total top 20 non-U.S. countries exposure	$	135,367	$	55,539	$	19,840	$	29,885	$	240,631	$	(26,574	)	$	214,057	$	2,707

⁽¹⁾  Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.

⁽²⁾  Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.

⁽³⁾  Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.

⁽⁴⁾  Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	March 31 2017			December 31 2016			September 30 2016			June 30 2016			March 31 2016
Residential mortgage	$	2,729		$	3,056		$	3,341		$	3,592		$	3,976
Home equity	2,796			2,918			2,982			3,085			3,244
Direct/Indirect consumer	19			28			26			27			26
Other consumer	2			2			1			1			1
Total consumer	5,546			6,004			6,350			6,705			7,247
U.S. commercial	1,246			1,256			1,439			1,349			1,236
Commercial real estate	74			72			60			84			91
Commercial lease financing	37			36			35			13			29
Non-U.S. commercial	311			279			400			144			165
	1,668			1,643			1,934			1,590			1,521
U.S. small business commercial	60			60			65			69			82
Total commercial	1,728			1,703			1,999			1,659			1,603
Total nonperforming loans and leases	7,274			7,707			8,349			8,364			8,850
Foreclosed properties (1)	363			377			388			435			431
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	7,637		$	8,084		$	8,737		$	8,799		$	9,281
Fully-insured home loans past due 30 days or more and still accruing	$	5,531		$	6,397		$	6,844		$	7,478		$	8,207
Consumer credit card past due 30 days or more and still accruing (5)	1,717			1,725			1,584			1,517			1,590
Other loans past due 30 days or more and still accruing	4,170			4,894			3,093			2,994			3,219
Total loans past due 30 days or more and still accruing (3, 6, 7)	$	11,418		$	13,016		$	11,521		$	11,989		$	13,016
Fully-insured home loans past due 90 days or more and still accruing	$	4,226		$	4,793		$	5,117		$	5,659		$	6,334
Consumer credit card past due 90 days or more and still accruing (8)	872			848			767			762			820
Other loans past due 90 days or more and still accruing	270			246			166			180			193
Total loans past due 90 days or more and still accruing (3, 6, 7)	$	5,368		$	5,887		$	6,050		$	6,601		$	7,347
Nonperforming loans, leases and foreclosed properties/Total assets (9)	0.34		%	0.37		%	0.40		%	0.40		%	0.43		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (9)	0.84			0.89			0.97			0.98			1.04
Nonperforming loans and leases/Total loans and leases (9)	0.80			0.85			0.93			0.94			0.99
Commercial utilized reservable criticized exposure (10)	$	16,068		$	16,320		$	16,938		$	18,087		$	18,577
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (10)	3.27		%	3.35		%	3.52		%	3.76		%	3.87		%
Total commercial utilized criticized exposure/Commercial utilized exposure (10)	3.19			3.24			3.38			3.72			3.82

⁽¹⁾  Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally FHA-insured loans, that entered foreclosure of $1.1 billion, $1.2 billion, $1.3 billion, $1.3 billion and $1.4 billion at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽²⁾  Balances do not include past due consumer credit card, 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.

⁽³⁾  Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

(4) Balances do not include the following:	March 31 2017		December 31 2016		September 30 2016		June 30 2016		March 31 2016
Nonperforming loans held-for-sale	$	426	$	264	$	274	$	223	$	265
Nonperforming loans accounted for under the fair value option	95		132		293		302		312
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	28		27		27		38		36

⁽⁵⁾  Includes $137 million and $130 million of non-U.S. credit card loans at March 31, 2017 and December 31, 2016, which are included in assets of business held for sale on the Consolidated Balance Sheet.

⁽⁶⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $137 million, $261 million, $18 million, $13 million and $3 million at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively, and loans held-for-sale past due 90 days or more and still accruing of $82 million and $182 million at March 31, 2017 and December 31, 2016, and $0 for other periods presented. At March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, there were $31 million, $38 million, $115 million, $117 million and $120 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.

⁽⁷⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁸⁾  Includes $71 million and $66 million of non-U.S. credit card loans at March 31, 2017 and December 31, 2016, which are included in assets of business held for sale on the Consolidated Balance Sheet.

⁽⁹⁾  Total assets and total loans and leases do not include loans accounted for under the fair value option of $7.5 billion, $7.1 billion, $8.1 billion, $8.7 billion and $8.2 billion at March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽¹⁰⁾  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.

Certain prior period amounts have been reclassified to conform to current period presentation.

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	6,004		$	6,350		$	6,705		$	7,247		$	8,165
Additions to nonperforming loans and leases:
New nonperforming loans and leases	818			911			831			799			951
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(230		)	(190		)	(220		)	(252		)	(133		)
Sales	(142		)	(273		)	(237		)	(271		)	(823		)
Returns to performing status (2)	(386		)	(408		)	(383		)	(396		)	(441		)
Charge-offs (3)	(240		)	(269		)	(279		)	(334		)	(395		)
Transfers to foreclosed properties	(57		)	(62		)	(67		)	(88		)	(77		)
Transfers to loans held-for-sale	(221		)	(55		)	—			—			—
Total net reductions to nonperforming loans and leases	(458		)	(346		)	(355		)	(542		)	(918		)
Total nonperforming consumer loans and leases, end of period	5,546			6,004			6,350			6,705			7,247
Foreclosed properties	328			363			372			416			421
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	5,874		$	6,367		$	6,722		$	7,121		$	7,668
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,703		$	1,999		$	1,659		$	1,603		$	1,212
Additions to nonperforming loans and leases:
New nonperforming loans and leases	458			254			890			489			697
Advances	14			4			2			2			9
Reductions to nonperforming loans and leases:
Paydowns	(267		)	(226		)	(267		)	(211		)	(120		)
Sales	(22		)	(152		)	(73		)	(87		)	(6		)
Return to performing status (5)	(54		)	(90		)	(101		)	(29		)	(47		)
Charge-offs	(82		)	(84		)	(102		)	(106		)	(142		)
Transfers to foreclosed properties	(22		)	(2		)	—			(2		)	—
Transfers to loans held-for-sale	—			—			(9		)	—			—
Total net additions (reductions) to nonperforming loans and leases	25			(296		)	340			56			391
Total nonperforming commercial loans and leases, end of period	1,728			1,703			1,999			1,659			1,603
Foreclosed properties	35			14			16			19			10
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,763		$	1,717		$	2,015		$	1,678		$	1,613

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 33.

⁽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. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower's sustained repayment performance for a reasonable period, generally six months.

⁽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 U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁵⁾  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. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 34

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	First Quarter 2017					Fourth Quarter 2016				Third Quarter 2016					Second Quarter 2016					First Quarter 2016
Net Charge-offs	Amount			Percent		Amount		Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage (3)	$	17		0.04	%	$	2	—	%	$	4		0.01	%	$	34		0.07	%	$	91		0.20	%
Home equity	64			0.40		70		0.41		97			0.55		126			0.70		112			0.60
U.S. credit card	606			2.74		566		2.52		543			2.45		573			2.66		587			2.71
Non-U.S. credit card (4)	44			1.91		41		1.80		43			1.83		46			1.85		45			1.85
Direct/Indirect consumer	48			0.21		43		0.19		34			0.14		23			0.10		34			0.15
Other consumer	48			7.61		53		8.57		57			9.74		47			8.40		48			9.07
Total consumer	827			0.74		775		0.68		778			0.69		849			0.76		917			0.82
U.S. commercial (5)	44			0.06		29		0.04		62			0.10		28			0.04		65			0.10
Commercial real estate	(4		)	(0.03	)	—		—		(23		)	(0.16	)	(2		)	(0.01	)	(6		)	(0.04	)
Commercial lease financing	—			—		2		0.05		6			0.11		15			0.30		(2		)	(0.05	)
Non-U.S. commercial	15			0.07		23		0.10		10			0.04		45			0.20		42			0.19
	55			0.05		54		0.05		55			0.05		86			0.08		99			0.09
U.S. small business commercial	52			1.61		51		1.55		55			1.67		50			1.55		52			1.64
Total commercial	107			0.10		105		0.09		110			0.10		136			0.12		151			0.14
Total net charge-offs	$	934		0.42		$	880	0.39		$	888		0.40		$	985		0.44		$	1,068		0.48
By Business Segment
Consumer Banking	$	772		1.21	%	$	732	1.15	%	$	710		1.14	%	$	715		1.18	%	$	739		1.25	%
Global Wealth & Investment Management	21			0.06		17		0.05		12			0.03		14			0.04		5			0.01
Global Banking	51			0.06		50		0.06		57			0.07		80			0.10		104			0.13
Global Markets	—			—		—		—		4			0.02		5			0.03		—			—
All Other (4)	90			0.39		81		0.33		105			0.41		171			0.63		220			0.76
Total net charge-offs	$	934		0.42		$	880	0.39		$	888		0.40		$	985		0.44		$	1,068		0.48

⁽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. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.42, 0.39, 0.40, 0.45 and 0.49 for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $33 million, $70 million, $83 million, $82 million and $105 million for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.43, 0.42, 0.43, 0.48 and 0.53 for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽³⁾  Includes nonperforming loan sales charge-offs (recoveries) of $(11) million, $(9) million, $(7) million, $0 and $42 million for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016, respectively.

⁽⁴⁾  Represents net charge-offs of non-U.S. credit card loans recorded in All Other, which are included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017 and December 31, 2016.

⁽⁵⁾  Excludes U.S. small business commercial loans.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 35

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	March 31, 2017							December 31, 2016							March 31, 2016
Allowance for loan and lease losses	Amount			Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount			Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)
Residential mortgage	$	1,018		8.97	%	0.53	%	$	1,012		8.82	%	0.53	%	$	1,312	10.87	%	0.71	%
Home equity	1,547			13.62		2.42		1,738			15.14		2.62		2,144		17.76		2.91
U.S. credit card	3,003			26.45		3.39		2,934			25.56		3.18		2,800		23.20		3.24
Non-U.S.credit card	242			2.13		2.54		243			2.12		2.64		253		2.10		2.54
Direct/Indirect consumer	276			2.43		0.30		244			2.13		0.26		200		1.66		0.22
Other consumer	50			0.44		2.00		51			0.44		2.01		49		0.40		2.24
Total consumer	6,136			54.04		1.36		6,222			54.21		1.36		6,758		55.99		1.51
U.S. commercial (3)	3,306			29.12		1.15		3,326			28.97		1.17		3,423		28.36		1.25
Commercial real estate	927			8.16		1.60		920			8.01		1.60		924		7.66		1.59
Commercial lease financing	135			1.19		0.62		138			1.20		0.62		133		1.10		0.63
Non-U.S.commercial	850			7.49		0.95		874			7.61		0.98		831		6.89		0.89
Total commercial (4)	5,218			45.96		1.14		5,258			45.79		1.16		5,311		44.01		1.19
Allowance for loan and lease losses	11,354			100.00	%	1.25		11,480			100.00	%	1.26		12,069		100.00	%	1.35
Less: Allowance included in assets of business held for sale (5)	(242		)					(243		)					—
Total allowance for loan and lease losses	11,112							11,237							12,069
Reserve for unfunded lending commitments	757							762							627
Allowance for credit losses	$	11,869						$	11,999						$	12,696
Asset Quality Indicators(5)
Allowance for loan and lease losses/Total loans and leases (2)				1.25	%						1.26	%					1.35	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) (2, 6)				1.22							1.24						1.31
Allowance for loan and lease losses/Total nonperforming loans and leases (7)				156							149						136
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (6)				150							144						129
Ratio of the allowance for loan and lease losses/Annualized net charge-offs (8)				3.00							3.28						2.81
Ratio of the allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Annualized net charge-offs (6, 8)				2.88							3.16						2.67
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs				2.90							3.04						2.56

⁽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. Consumer loans accounted for under the fair value option included residential mortgage loans of $694 million, $710 million and $1.6 billion and home equity loans of $338 million, $341 million and $348 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $3.5 billion, $2.9 billion and $2.6 billion and non-U.S. commercial loans of $3.0 billion, $3.1 billion and $3.7 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $7.5 billion, $7.1 billion and $8.2 billion at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽³⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $415 million, $416 million and $480 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁴⁾  Includes allowance for loan and lease losses for impaired commercial loans of $274 million, $273 million and $285 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁵⁾  Indicators include $242 million and $243 million of non-U.S. credit card allowance and $9.5 billion and $9.2 billion of non-U.S. credit card loans, which are included in assets of business held for sale on the Consolidated Balance Sheet at March 31, 2017 and December 31, 2016.

⁽⁶⁾  Excludes valuation allowance on purchased credit-impaired loans of $454 million, $419 million and $622 million at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁷⁾  Allowance for loan and lease losses includes $4.0 billion, $4.0 billion and $4.1 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at March 31, 2017, December 31, 2016 and March 31, 2016, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 100 percent, 98 percent and 90 percent at March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

⁽⁸⁾  Net charge-offs exclude $33 million, $70 million and $105 million of write-offs in the purchased credit-impaired loan portfolio for the three months ended March 31, 2017, December 31, 2016 and March 31, 2016, respectively.

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 36

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. Total revenue, net of interest expense, on a fully taxable-equivalent basis includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation believes that this presentation allows for comparison of amounts from both taxable and tax-exempt sources and is consistent with industry practices. The Corporation presents related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders' equity or common shareholders' equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by 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 earnings contribution as a percentage of adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. 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 and on page 38 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the three months ended March 31, 2017, December 31, 2016, September 30, 2016, June 30, 2016 and March 31, 2016. 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 supplemental financial data differently.

	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	11,058		$	10,292		$	10,201		$	10,118		$	10,485
Fully taxable-equivalent adjustment	197			234			228			223			215
Net interest income on a fully taxable-equivalent basis	$	11,255		$	10,526		$	10,429		$	10,341		$	10,700
Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	22,248		$	19,990		$	21,635		$	21,286		$	20,790
Fully taxable-equivalent adjustment	197			234			228			223			215
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	22,445		$	20,224		$	21,863		$	21,509		$	21,005
Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense	$	1,709		$	1,359		$	2,349		$	2,034		$	1,505
Fully taxable-equivalent adjustment	197			234			228			223			215
Income tax expense on a fully taxable-equivalent basis	$	1,906		$	1,593		$	2,577		$	2,257		$	1,720
Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	242,883		$	245,139		$	243,679		$	240,376		$	237,229
Goodwill	(69,744		)	(69,745		)	(69,744		)	(69,751		)	(69,761		)
Intangible assets (excluding mortgage servicing rights)	(2,923		)	(3,091		)	(3,276		)	(3,480		)	(3,687		)
Related deferred tax liabilities	1,539			1,580			1,628			1,662			1,707
Tangible common shareholders' equity	$	171,755		$	173,883		$	172,287		$	168,807		$	165,488
Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	268,103		$	270,360		$	268,899		$	265,354		$	260,423
Goodwill	(69,744		)	(69,745		)	(69,744		)	(69,751		)	(69,761		)
Intangible assets (excluding mortgage servicing rights)	(2,923		)	(3,091		)	(3,276		)	(3,480		)	(3,687		)
Related deferred tax liabilities	1,539			1,580			1,628			1,662			1,707
Tangible shareholders' equity	$	196,975		$	199,104		$	197,507		$	193,785		$	188,682

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 37

Exhibit A: Non-GAAP Reconciliations (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2017			Fourth Quarter 2016			Third Quarter 2016			Second Quarter 2016			First Quarter 2016
Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	242,933		$	241,620		$	244,863		$	242,206		$	238,662
Goodwill	(69,744		)	(69,744		)	(69,744		)	(69,744		)	(69,761		)
Intangible assets (excluding mortgage servicing rights)	(2,827		)	(2,989		)	(3,168		)	(3,352		)	(3,578		)
Related deferred tax liabilities	1,513			1,545			1,588			1,637			1,667
Tangible common shareholders' equity	$	171,875		$	170,432		$	173,539		$	170,747		$	166,990
Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	268,153		$	266,840		$	270,083		$	267,426		$	263,004
Goodwill	(69,744		)	(69,744		)	(69,744		)	(69,744		)	(69,761		)
Intangible assets (excluding mortgage servicing rights)	(2,827		)	(2,989		)	(3,168		)	(3,352		)	(3,578		)
Related deferred tax liabilities	1,513			1,545			1,588			1,637			1,667
Tangible shareholders' equity	$	197,095		$	195,652		$	198,759		$	195,967		$	191,332
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,247,701		$	2,187,702		$	2,195,314		$	2,186,966		$	2,185,726
Goodwill	(69,744		)	(69,744		)	(69,744		)	(69,744		)	(69,761		)
Intangible assets (excluding mortgage servicing rights)	(2,827		)	(2,989		)	(3,168		)	(3,352		)	(3,578		)
Related deferred tax liabilities	1,513			1,545			1,588			1,637			1,667
Tangible assets	$	2,176,643		$	2,116,514		$	2,123,990		$	2,115,507		$	2,114,054

Certain prior period amounts have been reclassified to conform to current period presentation.

Current period information is preliminary and based on company data available at the time of the presentation. 38