Supplemental Information

Second Quarter 2019

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

Bank of America Corporation and Subsidiaries
Table of Contents	Page
Consolidated Financial Highlights	2
Consolidated Statement of Income	3
Consolidated Statement of Comprehensive Income	3
Net Interest Income and Noninterest Income	4
Consolidated Balance Sheet	5
Capital Management	6
Quarterly Average Balances and Interest Rates	7
Year-To-Date Average Balances and Interest Rates	9
Debt Securities	11
Supplemental Financial Data	12
Quarterly Results by Business Segment and All Other	13
Year-to-Date Results by Business Segment and All Other	15
Consumer Banking
Total Segment Results	16
Key Indicators	17
Business Results	18
Global Wealth & Investment Management
Total Segment Results	20
Key Indicators	21
Global Banking
Total Segment Results	22
Key Indicators	23
Global Markets
Total Segment Results	24
Key Indicators	25
All Other
Total Results	26
Outstanding Loans and Leases	27
Quarterly Average Loans and Leases by Business Segment and All Other	28
Commercial Credit Exposure by Industry	29
Top 20 Non-U.S. Countries Exposure	30
Nonperforming Loans, Leases and Foreclosed Properties	31
Nonperforming Loans, Leases and Foreclosed Properties Activity	32
Quarterly Net Charge-offs and Net Charge-off Ratios	33
Year-To-Date Net Charge-offs and Net Charge-off Ratios	34
Allocation of the Allowance for Credit Losses by Product Type	35
Exhibit A: Non-GAAP Reconciliations	36
The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 13-15 are reported on an FTE basis.

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Income statement
Net interest income	$	24,564		$	23,597		$	12,189		$	12,375		$	12,504		$	12,061		$	11,828
Noninterest income	21,524			22,022			10,895			10,629			10,173			10,663			10,721
Total revenue, net of interest expense	46,088			45,619			23,084			23,004			22,677			22,724			22,549
Provision for credit losses	1,870			1,661			857			1,013			905			716			827
Noninterest expense	26,492			27,066			13,268			13,224			13,074			13,014			13,224
Income tax expense	3,067			3,190			1,611			1,456			1,420			1,827			1,714
Net income	14,659			13,702			7,348			7,311			7,278			7,167			6,784
Preferred stock dividends	681			746			239			442			239			466			318
Net income applicable to common shareholders	13,978			12,956			7,109			6,869			7,039			6,701			6,466
Diluted earnings per common share	1.45			1.25			0.74			0.70			0.70			0.66			0.63
Average diluted common shares issued and outstanding	9,672.4			10,389.9			9,559.6			9,787.3			9,996.0			10,170.8			10,309.4
Dividends paid per common share	$	0.30		$	0.24		$	0.15		$	0.15		$	0.15		$	0.15		$	0.12
Performance ratios
Return on average assets	1.24		%	1.19		%	1.23		%	1.26		%	1.24		%	1.23		%	1.17		%
Return on average common shareholders’ equity	11.52			10.80			11.62			11.42			11.57			10.99			10.75
Return on average shareholders’ equity	11.07			10.41			11.00			11.14			10.95			10.74			10.26
Return on average tangible common shareholders’ equity (1)	16.13			15.21			16.24			16.01			16.29			15.48			15.15
Return on average tangible shareholders’ equity (1)	14.99			14.16			14.88			15.10			14.90			14.61			13.95
Efficiency ratio	57.48			59.33			57.48			57.48			57.65			57.27			58.65
At period end
Book value per share of common stock	$	26.41		$	24.07		$	26.41		$	25.57		$	25.13		$	24.33		$	24.07
Tangible book value per share of common stock (1)	18.92			17.07			18.92			18.26			17.91			17.23			17.07
Market capitalization	270,935			282,259			270,935			263,992			238,251			290,424			282,259
Number of financial centers - U.S.	4,349			4,433			4,349			4,353			4,341			4,385			4,433
Number of branded ATMs - U.S.	16,561			16,050			16,561			16,378			16,255			16,089			16,050
Headcount	208,984			207,992			208,984			205,292			204,489			204,681			207,992

⁽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 page 36.)

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
(In millions, except per share information)
	Six Months Ended June 30				Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018		Second Quarter 2018
	2019		2018
Net interest income
Interest income	$	36,394	$	31,968	$	18,224	$	18,170	$	17,836	$	16,965	$	16,369
Interest expense	11,830		8,371		6,035		5,795		5,332		4,904		4,541
Net interest income	24,564		23,597		12,189		12,375		12,504		12,061		11,828
Noninterest income
Fees and commissions	16,028		16,657		8,190		7,838		8,345		8,076		8,317
Trading account income	4,683		4,704		2,345		2,338		1,448		1,717		2,151
Other income	813		661		360		453		380		870		253
Total noninterest income	21,524		22,022		10,895		10,629		10,173		10,663		10,721
Total revenue, net of interest expense	46,088		45,619		23,084		23,004		22,677		22,724		22,549
Provision for credit losses	1,870		1,661		857		1,013		905		716		827
Noninterest expense
Compensation and benefits	16,221		16,424		7,972		8,249		7,735		7,721		7,944
Occupancy and equipment	3,245		3,198		1,640		1,605		1,593		1,589		1,591
Information processing and communications	2,321		2,286		1,157		1,164		1,156		1,113		1,121
Product delivery and transaction related	1,371		1,462		709		662		708		687		706
Marketing	970		740		528		442		513		421		395
Professional fees	769		780		409		360		480		439		399
Other general operating	1,595		2,176		853		742		889		1,044		1,068
Total noninterest expense	26,492		27,066		13,268		13,224		13,074		13,014		13,224
Income before income taxes	17,726		16,892		8,959		8,767		8,698		8,994		8,498
Income tax expense	3,067		3,190		1,611		1,456		1,420		1,827		1,714
Net income	$	14,659	$	13,702	$	7,348	$	7,311	$	7,278	$	7,167	$	6,784
Preferred stock dividends	681		746		239		442		239		466		318
Net income applicable to common shareholders	$	13,978	$	12,956	$	7,109	$	6,869	$	7,039	$	6,701	$	6,466
Per common share information
Earnings	$	1.45	$	1.26	$	0.75	$	0.71	$	0.71	$	0.67	$	0.64
Diluted earnings	1.45		1.25		0.74		0.70		0.70		0.66		0.63
Average common shares issued and outstanding	9,624.0		10,251.7		9,523.2		9,725.9		9,855.8		10,031.6		10,181.7
Average diluted common shares issued and outstanding	9,672.4		10,389.9		9,559.6		9,787.3		9,996.0		10,170.8		10,309.4

Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net income	$	14,659		$	13,702		$	7,348		$	7,311		$	7,278		$	7,167		$	6,784
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	4,693			(4,994		)	2,384			2,309			2,213			(1,172		)	(1,031		)
Net change in debit valuation adjustments	(501		)	452			(138		)	(363		)	566			(269		)	179
Net change in derivatives	533			(367		)	304			229			293			21			(92		)
Employee benefit plan adjustments	57			60			29			28			(496		)	31			30
Net change in foreign currency translation adjustments	(48		)	(189		)	(14		)	(34		)	49			(114		)	(141		)
Other comprehensive income (loss)	4,734			(5,038		)	2,565			2,169			2,625			(1,503		)	(1,055		)
Comprehensive income	$	19,393		$	8,664		$	9,913		$	9,480		$	9,903		$	5,664		$	5,729

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
Net Interest Income and Noninterest Income
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018		Second Quarter 2018
	2019		2018
Net interest income
Interest income
Loans and leases	$	21,827	$	19,694	$	10,942	$	10,885	$	10,716	$	10,401	$	10,071
Debt securities	6,136		5,660		3,017		3,119		3,078		2,986		2,856
Federal funds sold and securities borrowed or purchased under agreements to resell	2,504		1,331		1,309		1,195		1,046		799		709
Trading account assets	2,643		2,334		1,321		1,322		1,305		1,172		1,198
Other interest income	3,284		2,949		1,635		1,649		1,691		1,607		1,535
Total interest income	36,394		31,968		18,224		18,170		17,836		16,965		16,369
Interest expense
Deposits	3,760		1,703		1,965		1,795		1,562		1,230		943
Short-term borrowings	3,849		2,597		1,997		1,852		1,716		1,526		1,462
Trading account liabilities	664		705		319		345		318		335		348
Long-term debt	3,557		3,366		1,754		1,803		1,736		1,813		1,788
Total interest expense	11,830		8,371		6,035		5,795		5,332		4,904		4,541
Net interest income	$	24,564	$	23,597	$	12,189	$	12,375	$	12,504	$	12,061	$	11,828
Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	1,864	$	1,925	$	968	$	896	$	1,016	$	925	$	1,011
Other card income	957		960		478		479		506		492		472
Total card income	2,821		2,885		1,446		1,375		1,522		1,417		1,483
Service charges
Deposit-related fees	3,218		3,326		1,638		1,580		1,659		1,682		1,680
Lending-related fees	524		549		265		259		272		279		274
Total service charges	3,742		3,875		1,903		1,839		1,931		1,961		1,954
Investment and brokerage services
Asset management fees	4,994		5,077		2,554		2,440		2,536		2,576		2,513
Brokerage fees	1,836		2,045		916		920		1,008		918		945
Total investment and brokerage services	6,830		7,122		3,470		3,360		3,544		3,494		3,458
Investment banking fees
Underwriting income	1,458		1,460		792		666		562		701		719
Syndication fees	546		716		291		255		389		241		400
Financial advisory services	631		599		288		343		397		262		303
Total investment banking fees	2,635		2,775		1,371		1,264		1,348		1,204		1,422
Total fees and commissions	16,028		16,657		8,190		7,838		8,345		8,076		8,317
Trading account income	4,683		4,704		2,345		2,338		1,448		1,717		2,151
Other income	813		661		360		453		380		870		253
Total noninterest income	$	21,524	$	22,022	$	10,895	$	10,629	$	10,173	$	10,663	$	10,721

⁽¹⁾  Gross interchange fees were $4.8 billion and $4.6 billion and are presented net of $3.0 billion and $2.7 billion of expenses for rewards and partner payments for the six months ended June 30, 2019 and 2018, respectively. Gross interchange fees were $2.5 billion, $2.3 billion, $2.5 billion, $2.4 billion and $2.4 billion and are presented net of $1.6 billion, $1.4 billion, $1.5 billion, $1.5 billion and $1.4 billion of expenses for rewards and partner payments for the second and first quarters of 2019 and the fourth, third and second quarters of 2018, 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. 4

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
		June 30 2019			March 31 2019			June 30 2018
Assets
Cash and due from banks		$	29,409		$	28,083		$	29,365
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		141,985			143,540			141,834
Cash and cash equivalents		171,394			171,623			171,199
Time deposits placed and other short-term investments		8,692			9,480			8,212
Federal funds sold and securities borrowed or purchased under agreements to resell		248,077			267,017			226,486
Trading account assets		251,987			239,062			203,420
Derivative assets		44,912			42,391			45,210
Debt securities:
Carried at fair value		246,094			241,956			275,256
Held-to-maturity, at cost		199,981			198,718			163,013
Total debt securities		446,075			440,674			438,269
Loans and leases		963,800			945,615			935,824
Allowance for loan and lease losses		(9,527		)	(9,577		)	(10,050		)
Loans and leases, net of allowance		954,273			936,038			925,774
Premises and equipment, net		10,426			10,251			9,537
Goodwill		68,951			68,951			68,951
Loans held-for-sale		5,416			6,297			6,511
Customer and other receivables		53,329			53,496			57,813
Other assets		132,360			131,884			130,288
Total assets		$	2,395,892		$	2,377,164		$	2,291,670
Liabilities
Deposits in U.S. offices:
Noninterest-bearing		$	393,567		$	395,350		$	420,995
Interest-bearing		900,434			907,076			811,193
Deposits in non-U.S. offices:
Noninterest-bearing		12,864			12,066			14,247
Interest-bearing		68,228			64,845			63,256
Total deposits		1,375,093			1,379,337			1,309,691
Federal funds purchased and securities loaned or sold under agreements to repurchase		194,948			188,451			177,903
Trading account liabilities		82,150			84,410			87,028
Derivative liabilities		38,380			36,338			33,605
Short-term borrowings		27,244			14,008			40,622
Accrued expenses and other liabilities		168,658			173,681			151,949
Long-term debt		238,011			233,929			226,656
Total liabilities		2,124,484			2,110,154			2,027,454
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,939,040, 3,843,140and 3,872,702 shares		24,689			22,326			23,181
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 9,342,601,750, 9,568,389,268 and 10,012,719,225 shares		106,619			112,838			128,822
Retained earnings		147,577			141,888			125,546
Accumulated other comprehensive income (loss)		(7,477		)	(10,042		)	(13,333		)
Total shareholders’ equity		271,408			267,010			264,216
Total liabilities and shareholders’ equity		$	2,395,892		$	2,377,164		$	2,291,670
	Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
	Trading account assets	$	5,469		$	5,453		$	5,692
	Loans and leases	40,676			41,528			45,483
	Allowance for loan and lease losses	(882		)	(884		)	(959		)
	Loans and leases, net of allowance	39,794			40,644			44,524
	All other assets	342			332			399
	Total assets of consolidated variable interest entities	$	45,605		$	46,429		$	50,615
	Liabilities of consolidated variable interest entities included in total liabilities above
	Short-term borrowings	$	1,845		$	1,547		$	396
	Long-term debt	7,133			8,182			9,865
	All other liabilities	27			25			39
	Total liabilities of consolidated variable interest entities	$	9,005		$	9,754		$	10,300

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
Capital Management
(Dollars in millions)
	June 30 2019			March 31 2019			June 30 2018
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	171,498		$	169,243		$	164,872
Tier 1 capital	195,539			190,963			187,506
Total capital	229,000			223,745			220,230
Risk-weighted assets	1,466,458			1,454,657			1,443,654
Common equity tier 1 capital ratio	11.7		%	11.6		%	11.4		%
Tier 1 capital ratio	13.3			13.1			13.0
Total capital ratio	15.6			15.4			15.3
Advanced Approaches
Common equity tier 1 capital	$	171,498		$	169,243		$	164,872
Tier 1 capital	195,539			190,963			187,506
Total capital	220,936			215,634			211,973
Risk-weighted assets	1,431,201			1,422,631			1,436,949
Common equity tier 1 capital ratio	12.0		%	11.9		%	11.5		%
Tier 1 capital ratio	13.7			13.4			13.0
Total capital ratio	15.4			15.2			14.8
Leverage-based metrics (1)
Adjusted average assets	$	2,322,381		$	2,283,978		$	2,244,553
Tier 1 leverage ratio	8.4		%	8.4		%	8.4		%
Supplementary leverage exposure	$	2,872,354		$	2,822,231		$	2,803,331
Supplementary leverage ratio	6.8		%	6.8		%	6.7		%
Tangible equity ratio (2)	8.7			8.5			8.7
Tangible common equity ratio (2)	7.6			7.6			7.7

⁽¹⁾  Regulatory capital ratios at June 30, 2019 are preliminary. We report regulatory capital ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is used to assess capital adequacy.

⁽²⁾  Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of ratios that utilize tangible equity provides additional useful information because they present measures of those assets that can generate income. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 36.)

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
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Second Quarter 2019						First Quarter 2019						Second Quarter 2018
	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	$	122,395	$	495	1.62	%	$	134,962	$	506	1.52	%	$	144,983	$	487	1.35	%
Time deposits placed and other short-term investments	9,798		61		2.51		8,453		59		2.82		10,015		48		1.91
Federal funds sold and securities borrowed or purchased under agreements to resell	281,085		1,309		1.87		274,308		1,195		1.77		251,880		709		1.13
Trading account assets	146,865		1,337		3.65		140,228		1,341		3.87		132,799		1,232		3.72
Debt securities	446,447		3,047		2.72		441,680		3,148		2.83		429,191		2,885		2.64
Loans and leases (1):
Residential mortgage	215,822		1,899		3.52		210,174		1,862		3.55		206,083		1,798		3.49
Home equity	45,944		587		5.12		47,690		593		5.03		54,863		640		4.68
U.S. credit card	93,627		2,511		10.76		95,008		2,530		10.80		93,531		2,298		9.86
Direct/Indirect and other consumer	90,453		830		3.68		90,430		821		3.69		93,620		766		3.28
Total consumer	445,846		5,827		5.24		443,302		5,806		5.29		448,097		5,502		4.92
U.S. commercial	318,243		3,382		4.26		316,089		3,349		4.29		305,372		2,983		3.92
Non-U.S. commercial	103,844		894		3.45		101,996		886		3.52		99,255		816		3.30
Commercial real estate	61,778		720		4.67		60,859		702		4.68		60,653		646		4.27
Commercial lease financing	20,814		172		3.32		21,774		196		3.60		21,441		168		3.14
Total commercial	504,679		5,168		4.11		500,718		5,133		4.15		486,721		4,613		3.80
Total loans and leases	950,525		10,995		4.64		944,020		10,939		4.69		934,818		10,115		4.34
Other earning assets	66,607		1,129		6.79		67,667		1,135		6.80		78,244		1,047		5.36
Total earning assets (2)	2,023,722		18,373		3.64		2,011,318		18,323		3.68		1,981,930		16,523		3.34
Cash and due from banks	25,951						25,824						25,329
Other assets, less allowance for loan and lease losses	349,378						323,850						315,419
Total assets	$	2,399,051					$	2,360,992					$	2,322,678

⁽¹⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

⁽²⁾  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:

	Second Quarter 2019				First Quarter 2019				Second Quarter 2018
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		$	18			$	11			$	—
Federal funds sold and securities borrowed or purchased under agreements to resell		(63		)		(74		)		(39		)
Debt securities		1				(1		)		—
U.S. commercial loans and leases		(9		)		(9		)		(10		)
Net hedge expense on assets		$	(53	)		$	(73	)		$	(49	)

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
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Second Quarter 2019						First Quarter 2019						Second Quarter 2018
	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	$	52,987	$	2	0.01	%	$	53,573	$	1	0.01	%	$	55,734	$	2	0.01	%
NOW and money market deposit accounts	737,095		1,228		0.67		731,025		1,157		0.64		664,002		536		0.32
Consumer CDs and IRAs	45,375		105		0.93		41,791		74		0.72		39,953		36		0.36
Negotiable CDs, public funds and other deposits	69,966		408		2.35		65,974		367		2.25		44,539		197		1.78
Total U.S. interest-bearing deposits	905,423		1,743		0.77		892,363		1,599		0.73		804,228		771		0.38
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,033		5		0.96		2,387		6		1.02		2,329		11		1.89
Governments and official institutions	179		—		0.05		178		—		0.11		1,113		—		0.01
Time, savings and other	68,706		217		1.26		64,212		190		1.20		65,326		161		0.99
Total non-U.S. interest-bearing deposits	70,918		222		1.25		66,777		196		1.19		68,768		172		1.00
Total interest-bearing deposits	976,341		1,965		0.81		959,140		1,795		0.76		872,996		943		0.43
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	278,198		1,997		2.89		265,163		1,852		2.83		272,777		1,462		2.15
Trading account liabilities	47,022		319		2.72		45,593		345		3.07		52,228		348		2.67
Long-term debt	201,007		1,754		3.49		196,726		1,803		3.69		199,448		1,788		3.59
Total interest-bearing liabilities (1)	1,502,568		6,035		1.61		1,466,622		5,795		1.60		1,397,449		4,541		1.30
Noninterest-bearing sources:
Noninterest-bearing deposits	399,109						400,724						427,663
Other liabilities (2)	229,399						227,429						232,385
Shareholders’ equity	267,975						266,217						265,181
Total liabilities and shareholders’ equity	$	2,399,051					$	2,360,992					$	2,322,678
Net interest spread					2.03	%					2.08	%					2.04	%
Impact of noninterest-bearing sources					0.41						0.43						0.37
Net interest income/yield on earning assets (3)			$	12,338	2.44	%			$	12,528	2.51	%			$	11,982	2.41	%

⁽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:

	Second Quarter 2019				First Quarter 2019			Second Quarter 2018
NOW and money market deposit accounts		$	—			$	—		$	(1	)
Consumer CDs and IRAs		5				5			6
Negotiable CDs, public funds and other deposits		3				3			4
Banks located in non-U.S. countries		4				4			4
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		5				5			30
Long-term debt		(8		)		33			(10		)
Net hedge expense on liabilities		$	9			$	50		$	33

⁽²⁾  Includes$35.0 billion, $31.4 billion and $29.7 billion of structured notes and liabilities for the second and first quarters of 2019 and the second quarter of 2018, respectively.

⁽³⁾  Net interest income includes FTE adjustments of $149 million, $153 million and $154 million for the second and first quarters of 2019 and the second quarter of 2018, 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. 8

Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Six Months Ended June 30
	2019						2018
	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	$	128,644	$	1,001	1.57	%	$	142,628	$	909	1.29	%
Time deposits placed and other short-term investments	9,129		120		2.65		10,398		109		2.12
Federal funds sold and securities borrowed or purchased under agreements to resell	277,715		2,504		1.82		250,110		1,331		1.07
Trading account assets	143,565		2,678		3.76		131,966		2,379		3.63
Debt securities	444,077		6,195		2.78		431,133		5,715		2.61
Loans and leases (1):
Residential mortgage	213,014		3,761		3.53		205,460		3,580		3.49
Home equity	46,812		1,180		5.07		55,902		1,283		4.62
U.S. credit card	94,313		5,041		10.78		93,975		4,611		9.89
Direct/Indirect and other consumer	90,442		1,651		3.68		94,451		1,494		3.19
Total consumer	444,581		11,633		5.26		449,788		10,968		4.90
U.S. commercial	317,173		6,731		4.28		302,626		5,700		3.80
Non-U.S. commercial	102,925		1,780		3.49		99,379		1,554		3.15
Commercial real estate	61,321		1,422		4.68		59,946		1,233		4.15
Commercial lease financing	21,291		368		3.46		21,636		343		3.17
Total commercial	502,710		10,301		4.13		483,587		8,830		3.68
Total loans and leases	947,291		21,934		4.66		933,375		19,798		4.27
Other earning assets	67,134		2,264		6.79		81,277		2,031		5.03
Total earning assets (2)	2,017,555		36,696		3.66		1,980,887		32,272		3.28
Cash and due from banks	25,888						25,800
Other assets, less allowance for loan and lease losses	336,684						317,582
Total assets	$	2,380,127					$	2,324,269

⁽¹⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis.

⁽²⁾  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:

	Six Months Ended June 30, 2019				Six Months Ended June 30, 2018
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		$	29			$	—
Federal funds sold and securities borrowed or purchased under agreements to resell		(137		)		(34		)
Debt securities		—				(3		)
U.S. commercial loans and leases		(18		)		(19		)
Net hedge expense on assets		$	(126	)		$	(56	)

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
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Six Months Ended June 30
	2019						2018
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	53,278	$	3	0.01	%	$	55,243	$	3	0.01	%
NOW and money market deposit accounts	734,077		2,385		0.66		661,531		942		0.29
Consumer CDs and IRAs	43,593		179		0.83		40,629		69		0.34
Negotiable CDs, public funds and other deposits	67,981		775		2.30		42,600		354		1.68
Total U.S. interest-bearing deposits	898,929		3,342		0.75		800,003		1,368		0.34
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	2,209		11		0.99		2,287		20		1.79
Governments and official institutions	178		—		0.08		1,133		—		0.01
Time, savings and other	66,472		407		1.23		66,325		315		0.95
Total non-U.S. interest-bearing deposits	68,859		418		1.22		69,745		335		0.97
Total interest-bearing deposits	967,788		3,760		0.78		869,748		1,703		0.39
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	271,716		3,849		2.86		276,269		2,597		1.90
Trading account liabilities	46,312		664		2.89		53,787		705		2.64
Long-term debt	198,878		3,557		3.59		198,622		3,366		3.40
Total interest-bearing liabilities (1)	1,484,694		11,830		1.61		1,398,426		8,371		1.21
Noninterest-bearing sources:
Noninterest-bearing deposits	399,912						429,225
Other liabilities (2)	228,420						231,288
Shareholders’ equity	267,101						265,330
Total liabilities and shareholders’ equity	$	2,380,127					$	2,324,269
Net interest spread					2.05	%					2.07	%
Impact of noninterest-bearing sources					0.43						0.35
Net interest income/yield on earning assets (3)			$	24,866	2.48	%			$	23,901	2.42	%

⁽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:

	Six Months Ended June 30, 2019			Six Months Ended June 30, 2018
NOW and money market deposit accounts		$	—		$	(1	)
Consumer CDs and IRAs		10			11
Negotiable CDs, public funds and other deposits		6			7
Banks located in non-U.S. countries		8			9
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities		10			59
Long-term debt		25			(256		)
Net hedge (income) expense on liabilities		$	59		$	(171	)

⁽²⁾  Includes $33.2 billion and $30.8 billion of structured notes and liabilities for the six months ended June 30, 2019 and 2018.

⁽³⁾  Net interest income includes FTE adjustments of $302 million and $304 million for the six months ended June 30, 2019 and 2018.

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
(Dollars in millions)
	June 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	125,792	$	576	$	(799	)	$	125,569
Agency-collateralized mortgage obligations	5,157		80		(27		)	5,210
Commercial	14,313		228		(16		)	14,525
Non-agency residential	1,789		242		(9		)	2,022
Total mortgage-backed securities	147,051		1,126		(851		)	147,326
U.S. Treasury and agency securities	56,157		908		(246		)	56,819
Non-U.S. securities	11,178		8		(1		)	11,185
Other taxable securities, substantially all asset-backed securities	3,622		73		—			3,695
Total taxable securities	218,008		2,115		(1,098		)	219,025
Tax-exempt securities	16,799		189		(34		)	16,954
Total available-for-sale debt securities	234,807		2,304		(1,132		)	235,979
Other debt securities carried at fair value	9,941		196		(22		)	10,115
Total debt securities carried at fair value	244,748		2,500		(1,154		)	246,094
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	199,981		3,339		(836		)	202,484
Total debt securities	$	444,729	$	5,839	$	(1,990	)	$	448,578
	March 31, 2019
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	118,899	$	217	$	(1,951	)	$	117,165
Agency-collateralized mortgage obligations	5,411		35		(67		)	5,379
Commercial	14,489		48		(168		)	14,369
Non-agency residential	1,772		251		(8		)	2,015
Total mortgage-backed securities	140,571		551		(2,194		)	138,928
U.S. Treasury and agency securities	61,461		261		(698		)	61,024
Non-U.S. securities	10,759		5		(2		)	10,762
Other taxable securities, substantially all asset-backed securities	3,375		59		(1		)	3,433
Total taxable securities	216,166		876		(2,895		)	214,147
Tax-exempt securities	17,360		148		(42		)	17,466
Total available-for-sale debt securities	233,526		1,024		(2,937		)	231,613
Other debt securities carried at fair value	10,152		211		(20		)	10,343
Total debt securities carried at fair value	243,678		1,235		(2,957		)	241,956
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	198,718		1,949		(2,137		)	198,530
Total debt securities	$	442,396	$	3,184	$	(5,094	)	$	440,486

Other Debt Securities Carried at Fair Value
(Dollars in millions)	June 30 2019		March 31 2019
Mortgage-backed securities	$	1,598	$	2,651
Non-U.S. securities (1)	8,514		7,689
Other taxable securities, substantially all asset-backed securities	3		3
Total	$	10,115	$	10,343

⁽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)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Fully taxable-equivalent (FTE) basis data (1)
Net interest income	$	24,866		$	23,901		$	12,338		$	12,528		$	12,659		$	12,212		$	11,982
Total revenue, net of interest expense	46,390			45,923			23,233			23,157			22,832			22,875			22,703
Net interest yield	2.48		%	2.42		%	2.44		%	2.51		%	2.52		%	2.45		%	2.41		%
Efficiency ratio	57.11			58.94			57.11			57.10			57.26			56.89			58.25

⁽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. Net interest income includes FTE adjustments of $302 million and $304 million for the six months ended June 30, 2019 and 2018, and $149 million and $153 million for the second and first quarters of 2019, and $155 million, $151 million and $154 million for the fourth, third and second quarters of 2018, 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. 12

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income	$	12,338	$	7,116	$	1,624	$	2,709	$	811		$	78
Noninterest income
Fees and commissions:
Card income	1,446		1,268		22		134		23			(1		)
Service charges	1,903		1,045		15		749		87			7
Investment and brokerage services	3,470		75		2,963		7		433			(8		)
Investment banking fees	1,371		—		127		717		584			(57		)
Total fees and commissions	8,190		2,388		3,127		1,607		1,127			(59		)
Trading account income	2,345		2		30		56		1,961			296
Other income (loss)	360		211		119		603		246			(819		)
Total noninterest income (loss)	10,895		2,601		3,276		2,266		3,334			(582		)
Total revenue, net of interest expense	23,233		9,717		4,900		4,975		4,145			(504		)
Provision for credit losses	857		947		21		125		5			(241		)
Noninterest expense	13,268		4,407		3,458		2,212		2,677			514
Income (loss) before income taxes	9,108		4,363		1,421		2,638		1,463			(777		)
Income tax expense (benefit)	1,760		1,069		348		712		417			(786		)
Net income	$	7,348	$	3,294	$	1,073	$	1,926	$	1,046		$	9
Average
Total loans and leases	$	950,525	$	296,388	$	166,324	$	372,531	$	70,587		$	44,695
Total assets (1)	2,399,051		779,384		289,819		442,591		685,411			201,846
Total deposits	1,375,450		707,028		253,925		362,619		31,128			20,750
Quarter end
Total loans and leases	$	963,800	$	300,412	$	168,993	$	376,948	$	74,136		$	43,311
Total assets (1)	2,395,892		786,963		287,878		440,352		674,985			205,714
Total deposits	1,375,093		714,223		251,818		358,902		29,961			20,189
	First Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income	$	12,528	$	7,106	$	1,684	$	2,790	$	953		$	(5	)
Noninterest income
Fees and commissions:
Card income	1,375		1,197		26		131		20			1
Service charges	1,839		1,020		18		713		82			6
Investment and brokerage services	3,360		73		2,842		9		444			(8		)
Investment banking fees	1,264		—		80		709		537			(62		)
Total fees and commissions	7,838		2,290		2,966		1,562		1,083			(63		)
Trading account income	2,338		2		34		50		2,082			170
Other income (loss)	453		234		136		753		63			(733		)
Total noninterest income (loss)	10,629		2,526		3,136		2,365		3,228			(626		)
Total revenue, net of interest expense	23,157		9,632		4,820		5,155		4,181			(631		)
Provision for credit losses	1,013		974		5		111		(23		)	(54		)
Noninterest expense	13,224		4,356		3,428		2,266		2,755			419
Income (loss) before income taxes	8,920		4,302		1,387		2,778		1,449			(996		)
Income tax expense (benefit)	1,609		1,054		340		750		413			(948		)
Net income (loss)	$	7,311	$	3,248	$	1,047	$	2,028	$	1,036		$	(48	)
Average
Total loans and leases	$	944,020	$	292,269	$	164,403	$	370,108	$	70,080		$	47,160
Total assets (1)	2,360,992		769,262		297,123		434,920		664,052			195,635
Total deposits	1,359,864		696,939		261,831		349,037		31,366			20,691
Quarter end
Total loans and leases	$	945,615	$	292,454	$	164,483	$	373,017	$	70,052		$	45,609
Total assets (1)	2,377,164		794,510		296,785		436,066		671,123			178,680
Total deposits	1,379,337		721,727		261,168		343,897		31,073			21,472

⁽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. 13

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Second Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	11,982	$	6,593	$	1,538	$	2,739		$	968		$	144
Noninterest income
Fees and commissions:
Card income	1,483		1,292		38		130			23			—
Service charges	1,954		1,072		17		768			90			7
Investment and brokerage services	3,458		80		2,937		18			430			(7		)
Investment banking fees	1,422		—		72		743			651			(44		)
Total fees and commissions	8,317		2,444		3,064		1,659			1,194			(44		)
Trading account income	2,151		2		28		64			2,020			37
Other income (loss)	253		194		112		552			69			(674		)
Total noninterest income (loss)	10,721		2,640		3,204		2,275			3,283			(681		)
Total revenue, net of interest expense	22,703		9,233		4,742		5,014			4,251			(537		)
Provision for credit losses	827		944		12		(23		)	(1		)	(105		)
Noninterest expense	13,224		4,367		3,427		2,185			2,726			519
Income (loss) before income taxes	8,652		3,922		1,303		2,852			1,526			(951		)
Income tax expense (benefit)	1,868		1,000		332		741			397			(602		)
Net income (loss)	$	6,784	$	2,922	$	971	$	2,111		$	1,129		$	(349	)
Average
Total loans and leases	$	934,818	$	280,689	$	160,833	$	355,088		$	75,053		$	63,155
Total assets (1)	2,322,678		759,982		272,318		424,540			678,501			187,337
Total deposits	1,300,659		687,812		236,214		323,215			30,736			22,682
Quarter end
Total loans and leases	$	935,824	$	283,565	$	162,034	$	355,473		$	73,496		$	61,256
Total assets (1)	2,291,670		768,188		270,915		426,448			637,110			189,009
Total deposits	1,309,691		695,530		233,925		326,029			31,450			22,757

⁽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
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Six Months Ended June 30, 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	24,866	$	14,222	$	3,308	$	5,499		$	1,764		$	73
Noninterest income
Fees and commissions:
Card income	2,821		2,465		48		265			43			—
Service charges	3,742		2,065		33		1,462			169			13
Investment and brokerage services	6,830		148		5,805		16			877			(16		)
Investment banking fees	2,635		—		207		1,426			1,121			(119		)
Total fees and commissions	16,028		4,678		6,093		3,169			2,210			(122		)
Trading account income	4,683		4		64		106			4,043			466
Other income (loss)	813		445		255		1,356			309			(1,552		)
Total noninterest income (loss)	21,524		5,127		6,412		4,631			6,562			(1,208		)
Total revenue, net of interest expense	46,390		19,349		9,720		10,130			8,326			(1,135		)
Provision for credit losses	1,870		1,921		26		236			(18		)	(295		)
Noninterest expense	26,492		8,763		6,886		4,478			5,432			933
Income (loss) before income taxes	18,028		8,665		2,808		5,416			2,912			(1,773		)
Income tax expense (benefit)	3,369		2,123		688		1,462			830			(1,734		)
Net income (loss)	$	14,659	$	6,542	$	2,120	$	3,954		$	2,082		$	(39	)
Average
Total loans and leases	$	947,291	$	294,340	$	165,369	$	371,326		$	70,335		$	45,921
Total assets (1)	2,380,127		774,351		293,451		435,803			674,790			201,732
Total deposits	1,367,700		702,011		257,856		355,866			31,246			20,721
Period end
Total loans and leases	$	963,800	$	300,412	$	168,993	$	376,948		$	74,136		$	43,311
Total assets (1)	2,395,892		786,963		287,878		440,352			674,985			205,714
Total deposits	1,375,093		714,223		251,818		358,902			29,961			20,189
	Six Months Ended June 30, 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	23,901	$	13,070	$	3,122	$	5,418		$	1,989		$	302
Noninterest income
Fees and commissions:
Card income	2,885		2,526		58		258			42			1
Service charges	3,875		2,116		36		1,532			180			11
Investment and brokerage services	7,122		162		5,977		44			918			21
Investment banking fees	2,775		—		157		1,487			1,261			(130		)
Total fees and commissions	16,657		4,804		6,228		3,321			2,401			(97		)
Trading account income (loss)	4,704		4		56		124			4,577			(57		)
Other income (loss)	661		336		191		1,146			96			(1,108		)
Total noninterest income (loss)	22,022		5,144		6,475		4,591			7,074			(1,262		)
Total revenue, net of interest expense	45,923		18,214		9,597		10,009			9,063			(960		)
Provision for credit losses	1,661		1,879		50		(7		)	(4		)	(257		)
Noninterest expense	27,066		8,915		7,008		4,477			5,651			1,015
Income (loss) before income taxes	17,196		7,420		2,539		5,539			3,416			(1,718		)
Income tax expense (benefit)	3,494		1,893		647		1,440			888			(1,374		)
Net income (loss)	$	13,702	$	5,527	$	1,892	$	4,099		$	2,528		$	(344	)
Average
Total loans and leases	$	933,375	$	280,126	$	159,969	$	353,398		$	74,412		$	65,470
Total assets (1)	2,324,269		753,352		275,997		423,209			678,428			193,283
Total deposits	1,298,973		681,119		239,627		323,807			31,524			22,896
Period end
Total loans and leases	$	935,824	$	283,565	$	162,034	$	355,473		$	73,496		$	61,256
Total assets (1)	2,291,670		768,188		270,915		426,448			637,110			189,009
Total deposits	1,309,691		695,530		233,925		326,029			31,450			22,757

⁽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. 15

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net interest income	$	14,222		$	13,070		$	7,116		$	7,106		$	7,111		$	6,844		$	6,593
Noninterest income:
Card income	2,465			2,526			1,268			1,197			1,339			1,237			1,292
Service charges	2,065			2,116			1,045			1,020			1,086			1,098			1,072
All other income	597			502			288			309			426			263			276
Total noninterest income	5,127			5,144			2,601			2,526			2,851			2,598			2,640
Total revenue, net of interest expense	19,349			18,214			9,717			9,632			9,962			9,442			9,233
Provision for credit losses	1,921			1,879			947			974			915			870			944
Noninterest expense	8,763			8,915			4,407			4,356			4,436			4,325			4,367
Income before income taxes	8,665			7,420			4,363			4,302			4,611			4,247			3,922
Income tax expense	2,123			1,893			1,069			1,054			1,174			1,082			1,000
Net income	$	6,542		$	5,527		$	3,294		$	3,248		$	3,437		$	3,165		$	2,922
Net interest yield	3.92		%	3.69		%	3.87		%	3.96		%	3.92		%	3.77		%	3.67		%
Return on average allocated capital (1)	36			30			36			36			37			34			32
Efficiency ratio	45.29			48.95			45.37			45.22			44.54			45.81			47.31
Balance Sheet
Average
Total loans and leases	$	294,340		$	280,126		$	296,388		$	292,269		$	289,862		$	284,994		$	280,689
Total earning assets (2)	732,543			714,345			737,678			727,350			719,329			720,643			720,871
Total assets (2)	774,351			753,352			779,384			769,262			759,027			759,665			759,982
Total deposits	702,011			681,119			707,028			696,939			686,826			687,530			687,812
Allocated capital (1)	37,000			37,000			37,000			37,000			37,000			37,000			37,000
Period end
Total loans and leases	$	300,412		$	283,565		$	300,412		$	292,454		$	294,335		$	287,277		$	283,565
Total earning assets (2)	744,219			729,029			744,219			752,620			728,813			726,486			729,029
Total assets (2)	786,963			768,188			786,963			794,510			768,881			765,498			768,188
Total deposits	714,223			695,530			714,223			721,727			696,146			692,770			695,530

⁽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. 16

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Six Months Ended  June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Average deposit balances
Checking	$	369,435		$	346,474		$	373,912		$	364,908		$	356,609		$	354,013		$	351,686
Savings	51,492			53,563			51,688			51,294			50,968			52,306			54,052
MMS	241,751			241,286			241,050			242,460			241,576			243,064			242,841
CDs and IRAs	36,577			36,767			37,577			35,566			34,831			35,225			36,173
Other	2,756			3,029			2,801			2,711			2,842			2,922			3,060
Total average deposit balances	$	702,011		$	681,119		$	707,028		$	696,939		$	686,826		$	687,530		$	687,812
Deposit spreads (excludes noninterest costs)
Checking	2.32		%	2.11		%	2.34		%	2.31		%	2.23		%	2.18		%	2.13		%
Savings	2.54			2.39			2.55			2.53			2.49			2.45			2.40
MMS	2.47			1.92			2.50			2.45			2.29			2.15			2.00
CDs and IRAs	2.31			1.88			2.21			2.42			2.40			2.22			2.02
Other	2.76			1.95			2.74			2.78			2.61			2.47			2.16
Total deposit spreads	2.39			2.05			2.40			2.38			2.28			2.19			2.10
Consumer investment assets	$	219,732		$	191,472		$	219,732		$	210,930		$	185,881		$	203,882		$	191,472
Active digital banking users (units in thousands) (1)	37,292			35,722			37,292			37,034			36,264			36,174			35,722
Active mobile banking users (units in thousands)	27,818			25,335			27,818			27,127			26,433			25,990			25,335
Financial centers	4,349			4,433			4,349			4,353			4,341			4,385			4,433
ATMs	16,561			16,050			16,561			16,378			16,255			16,089			16,050
Total U.S. credit card(2)
Loans
Average credit card outstandings	$	94,313		$	93,975		$	93,627		$	95,008		$	95,766		$	94,710		$	93,531
Ending credit card outstandings	93,989			94,790			93,989			93,009			98,338			94,829			94,790
Credit quality
Net charge-offs	$	1,507		$	1,440		$	762		$	745		$	699		$	698		$	739
	3.22		%	3.09		%	3.26		%	3.18		%	2.90		%	2.92		%	3.17		%
30+ delinquency	$	1,838		$	1,695		$	1,838		$	1,932		$	1,989		$	1,805		$	1,695
	1.96		%	1.79		%	1.96		%	2.08		%	2.02		%	1.90		%	1.79		%
90+ delinquency	$	941		$	865		$	941		$	1,005		$	994		$	872		$	865
	1.00		%	0.91		%	1.00		%	1.08		%	1.01		%	0.92		%	0.91		%
Other Total U.S. credit card indicators (2)
Gross interest yield	10.78		%	9.90		%	10.76		%	10.80		%	10.49		%	10.20		%	9.86		%
Risk-adjusted margin	7.98			8.09			7.93			8.03			8.73			8.08			7.96
New accounts (in thousands)	2,102			2,380			1,068			1,034			1,048			1,116			1,186
Purchase volumes	$	133,039		$	128,168		$	70,288		$	62,751		$	70,048		$	66,490		$	66,821
Debit card data
Purchase volumes	$	162,540		$	156,749		$	84,046		$	78,494		$	81,893		$	79,920		$	80,697
Loan production(3)
Total (4):
First mortgage	$	29,689		$	21,096		$	18,229		$	11,460		$	9,417		$	10,682		$	11,672
Home equity	5,593			7,830			2,768			2,825			3,640			3,399			4,081
Consumer Banking:
First mortgage	$	20,912		$	13,845		$	12,757		$	8,155		$	6,227		$	7,208		$	7,881
Home equity	4,890			6,989			2,405			2,485			3,209			3,053			3,644

⁽¹⁾  Active digital banking users represents mobile and/or online users.

⁽²⁾  In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.

⁽³⁾  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.

⁽⁴⁾  In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

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 Quarterly Results
(Dollars in millions)
	Second Quarter 2019									First Quarter 2019
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	7,116		$	4,363		$	2,753		$	7,106		$	4,307		$	2,799
Noninterest income:
Card income	1,268			(6		)	1,274			1,197			(7		)	1,204
Service charges	1,045			1,044			1			1,020			1,020			—
All other income	288			210			78			309			232			77
Total noninterest income	2,601			1,248			1,353			2,526			1,245			1,281
Total revenue, net of interest expense	9,717			5,611			4,106			9,632			5,552			4,080
Provision for credit losses	947			44			903			974			46			928
Noninterest expense	4,407			2,663			1,744			4,356			2,639			1,717
Income before income taxes	4,363			2,904			1,459			4,302			2,867			1,435
Income tax expense	1,069			712			357			1,054			702			352
Net income	$	3,294		$	2,192		$	1,102		$	3,248		$	2,165		$	1,083
Net interest yield	3.87		%	2.49		%	3.79		%	3.96		%	2.52		%	3.95		%
Return on average allocated capital (1)	36			73			18			36			73			18
Efficiency ratio	45.37			47.51			42.45			45.22			47.52			42.09
Balance Sheet
Average
Total loans and leases	$	296,388		$	5,333		$	291,055		$	292,269		$	5,313		$	286,956
Total earning assets (2)	737,678			702,662			291,492			727,350			693,051			287,259
Total assets (2)	779,384			734,117			301,743			769,262			724,493			297,729
Total deposits	707,028			701,790			5,238			696,939			692,172			4,767
Allocated capital (1)	37,000			12,000			25,000			37,000			12,000			25,000
Period end
Total loans and leases	$	300,412		$	5,340		$	295,072		$	292,454		$	5,283		$	287,171
Total earning assets (2)	744,219			708,382			295,561			752,620			717,753			287,661
Total assets (2)	786,963			740,485			306,202			794,510			748,742			298,562
Total deposits	714,223			708,162			6,061			721,727			716,345			5,382
										Second Quarter 2018
										Total Consumer Banking			Deposits			Consumer Lending
Net interest income										$	6,593		$	3,895		$	2,698
Noninterest income:
Card income										1,292			(8		)	1,300
Service charges										1,072			1,072			—
All other income										276			188			88
Total noninterest income										2,640			1,252			1,388
Total revenue, net of interest expense										9,233			5,147			4,086
Provision for credit losses										944			46			898
Noninterest expense										4,367			2,644			1,723
Income before income taxes										3,922			2,457			1,465
Income tax expense										1,000			627			373
Net income										$	2,922		$	1,830		$	1,092
Net interest yield										3.67		%	2.28		%	3.92		%
Return on average allocated capital (1)										32			61			18
Efficiency ratio										47.31			51.40			42.17
Balance Sheet
Average
Total loans and leases										$	280,689		$	5,191		$	275,498
Total earning assets (2)										720,871			686,324			276,436
Total assets (2)										759,982			714,494			287,377
Total deposits										687,812			682,202			5,610
Allocated capital (1)										37,000			12,000			25,000
Period end
Total loans and leases										$	283,565		$	5,212		$	278,353
Total earning assets (2)										729,029			693,702			279,399
Total assets (2)										768,188			721,647			290,613
Total deposits										695,530			689,258			6,272

⁽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. 18

Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Six Months Ended June 30
	2019									2018
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	14,222		$	8,670		$	5,552		$	13,070		$	7,607		$	5,463
Noninterest income:
Card income	2,465			(13		)	2,478			2,526			(15		)	2,541
Service charges	2,065			2,064			1			2,116			2,115			1
All other income	597			442			155			502			320			182
Total noninterest income	5,127			2,493			2,634			5,144			2,420			2,724
Total revenue, net of interest expense	19,349			11,163			8,186			18,214			10,027			8,187
Provision for credit losses	1,921			90			1,831			1,879			87			1,792
Noninterest expense	8,763			5,302			3,461			8,915			5,366			3,549
Income before income taxes	8,665			5,771			2,894			7,420			4,574			2,846
Income tax expense	2,123			1,414			709			1,893			1,167			726
Net income	$	6,542		$	4,357		$	2,185		$	5,527		$	3,407		$	2,120
Net interest yield	3.92		%	2.51		%	3.87		%	3.69		%	2.26		%	4.00		%
Return on average allocated capital (1)	36			73			18			30			57			17
Efficiency ratio	45.29			47.51			42.27			48.95			53.51			43.36
Balance Sheet
Average
Total loans and leases	$	294,340		$	5,323		$	289,017		$	280,126		$	5,180		$	274,946
Total earning assets (2)	732,543			697,883			289,387			714,345			680,013			275,597
Total assets (2)	774,351			729,332			299,747			753,352			707,992			286,625
Total deposits	702,011			697,008			5,003			681,119			675,630			5,489
Allocated capital (1)	37,000			12,000			25,000			37,000			12,000			25,000
Period end
Total loans and leases	$	300,412		$	5,340		$	295,072		$	283,565		$	5,212		$	278,353
Total earning assets (2)	744,219			708,382			295,561			729,029			693,702			279,399
Total assets (2)	786,963			740,485			306,202			768,188			721,647			290,613
Total deposits	714,223			708,162			6,061			695,530			689,258			6,272

For footnotes, see page 18.

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. 19

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net interest income	$	3,308		$	3,122		$	1,624		$	1,684		$	1,612		$	1,531		$	1,538
Noninterest income:
Investment and brokerage services	5,805			5,977			2,963			2,842			2,977			3,004			2,937
All other income	607			498			313			294			450			282			267
Total noninterest income	6,412			6,475			3,276			3,136			3,427			3,286			3,204
Total revenue, net of interest expense	9,720			9,597			4,900			4,820			5,039			4,817			4,742
Provision for credit losses	26			50			21			5			23			13			12
Noninterest expense	6,886			7,008			3,458			3,428			3,563			3,443			3,427
Income before income taxes	2,808			2,539			1,421			1,387			1,453			1,361			1,303
Income tax expense	688			647			348			340			370			347			332
Net income	$	2,120		$	1,892		$	1,073		$	1,047		$	1,083		$	1,014		$	971
Net interest yield	2.37		%	2.43		%	2.35		%	2.40		%	2.41		%	2.37		%	2.42		%
Return on average allocated capital (1)	30			26			30			29			30			28			27
Efficiency ratio	70.85			73.02			70.58			71.13			70.72			71.48			72.25
Balance Sheet
Average
Total loans and leases	$	165,369		$	159,969		$	166,324		$	164,403		$	163,516		$	161,869		$	160,833
Total earning assets (2)	281,028			258,940			277,068			285,033			265,038			256,286			255,146
Total assets (2)	293,451			275,997			289,819			297,123			283,264			273,582			272,318
Total deposits	257,856			239,627			253,925			261,831			247,427			238,291			236,214
Allocated capital (1)	14,500			14,500			14,500			14,500			14,500			14,500			14,500
Period end
Total loans and leases	$	168,993		$	162,034		$	168,993		$	164,483		$	164,854		$	162,191		$	162,034
Total earning assets (2)	275,456			253,911			275,456			284,470			287,199			258,561			253,911
Total assets (2)	287,878			270,915			287,878			296,785			305,907			276,146			270,915
Total deposits	251,818			233,925			251,818			261,168			268,700			239,654			233,925

⁽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)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Revenue by Business
Merrill Lynch Global Wealth Management	$	8,012		$	7,883		$	4,047		$	3,965		$	4,164		$	3,951		$	3,888
Bank of America Private Bank	1,708			1,714			853			855			875			866			854
Total revenue, net of interest expense	$	9,720		$	9,597		$	4,900		$	4,820		$	5,039		$	4,817		$	4,742
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,440,710		$	2,311,598		$	2,440,710		$	2,384,492		$	2,193,562		$	2,385,479		$	2,311,598
Bank of America Private Bank	458,081			442,608			458,081			452,477			427,294			455,894			442,608
Total client balances	$	2,898,791		$	2,754,206		$	2,898,791		$	2,836,969		$	2,620,856		$	2,841,373		$	2,754,206
Client Balances by Type, at period end
Assets under management (1, 2)	$	1,203,783		$	1,138,500		$	1,203,783		$	1,169,713		$	1,072,234		$	1,182,504		$	1,138,500
Brokerage and other assets	1,314,457			1,254,135			1,314,457			1,282,091			1,162,997			1,292,219			1,254,135
Deposits	251,818			233,925			251,818			261,168			268,700			239,654			233,925
Loans and leases (3)	172,265			165,145			172,265			167,455			167,938			165,125			165,145
Less: Managed deposits in assets under management (1)	(43,532		)	(37,499		)	(43,532		)	(43,458		)	(51,013		)	(38,129		)	(37,499		)
Total client balances	$	2,898,791		$	2,754,206		$	2,898,791		$	2,836,969		$	2,620,856		$	2,841,373		$	2,754,206
Assets Under Management Rollforward(1)
Assets under management, beginning balance	$	1,072,234		$	1,121,383		$	1,169,713		$	1,072,234		$	1,182,504		$	1,138,500		$	1,122,571
Net client flows	11,192			31,878			5,274			5,918			4,527			8,202			10,420
Market valuation/other	120,357			(14,761		)	28,796			91,561			(114,797		)	35,802			5,509
Total assets under management, ending balance	$	1,203,783		$	1,138,500		$	1,203,783		$	1,169,713		$	1,072,234		$	1,182,504		$	1,138,500
Associates, at period end(4)
Number of financial advisors	17,508			17,442			17,508			17,535			17,518			17,456			17,442
Total wealth advisors, including financial advisors	19,512			19,350			19,512			19,524			19,459			19,343			19,350
Total primary sales professionals, including financial advisors and wealth advisors	20,611			20,451			20,611			20,657			20,586			20,466			20,451
Merrill Lynch Global Wealth Management Metric
Financial advisor productivity (5) (in thousands)	$	1,061		$	1,027		$	1,082		$	1,039		$	1,046		$	1,035		$	1,017
Bank of America Private Bank Metric, at period end
Primary sales professionals	1,808			1,723			1,808			1,795			1,748			1,711			1,723

⁽¹⁾  Assets under management include deposits that are managed within investment accounts. Prior periods have been revised to conform to current period presentation.

⁽²⁾  Defined as managed assets under advisory and/or discretion of GWIM.

⁽³⁾  Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

⁽⁴⁾  Includes financial advisors in the Consumer Banking segmentof 2,818, 2,773, 2,722, 2,618 and 2,622 at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.

⁽⁵⁾  Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue, excluding the allocation of certain asset and liability management (ALM) activities, divided by the total average 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)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net interest income	$	5,499		$	5,418		$	2,709		$	2,790		$	2,849		$	2,726		$	2,739
Noninterest income:
Service charges	1,462			1,532			749			713			742			753			768
Investment banking fees	1,426			1,487			717			709			761			644			743
All other income	1,743			1,572			800			943			818			700			764
Total noninterest income	4,631			4,591			2,266			2,365			2,321			2,097			2,275
Total revenue, net of interest expense	10,130			10,009			4,975			5,155			5,170			4,823			5,014
Provision for credit losses	236			(7		)	125			111			85			(70		)	(23		)
Noninterest expense	4,478			4,477			2,212			2,266			2,128			2,142			2,185
Income before income taxes	5,416			5,539			2,638			2,778			2,957			2,751			2,852
Income tax expense	1,462			1,440			712			750			769			714			741
Net income	$	3,954		$	4,099		$	1,926		$	2,028		$	2,188		$	2,037		$	2,111
Net interest yield	2.91		%	3.01		%	2.80		%	2.98		%	2.99		%	2.99		%	3.01		%
Return on average allocated capital (1)	19			20			19			20			21			20			21
Efficiency ratio	44.20			44.72			44.45			43.96			41.15			44.42			43.57
Balance Sheet
Average
Total loans and leases	$	371,326		$	353,398		$	372,531		$	370,108		$	357,410		$	352,712		$	355,088
Total earning assets (2)	381,111			363,212			387,819			380,308			378,163			362,316			364,587
Total assets (2)	435,803			423,209			442,591			434,920			440,522			423,643			424,540
Total deposits	355,866			323,807			362,619			349,037			359,642			337,685			323,215
Allocated capital (1)	41,000			41,000			41,000			41,000			41,000			41,000			41,000
Period end
Total loans and leases	$	376,948		$	355,473		$	376,948		$	373,017		$	365,717		$	352,332		$	355,473
Total earning assets (2)	384,884			364,428			384,884			381,490			377,812			368,095			364,428
Total assets (2)	440,352			426,448			440,352			436,066			442,330			430,846			426,448
Total deposits	358,902			326,029			358,902			343,897			360,248			350,748			326,029

⁽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)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Investment Banking fees (1)
Advisory (2)	$	557		$	545		$	254		$	303		$	371		$	237		$	269
Debt issuance	651			723			324			327			309			295			367
Equity issuance	218			219			139			79			81			112			107
Total Investment Banking fees (3)	$	1,426		$	1,487		$	717		$	709		$	761		$	644		$	743
Business Lending
Corporate	$	1,968		$	2,032		$	923		$	1,045		$	964		$	908		$	1,036
Commercial	2,080			2,093			1,046			1,034			1,142			1,095			1,046
Business Banking	184			216			90			94			107			108			110
Total Business Lending revenue	$	4,232		$	4,341		$	2,059		$	2,173		$	2,213		$	2,111		$	2,192
Global Transaction Services
Corporate	$	2,012		$	1,877		$	1,005		$	1,007		$	1,004		$	951		$	956
Commercial	1,780			1,642			889			891			872			832			829
Business Banking	533			473			267			266			266			248			241
Total Global Transaction Services revenue	$	4,325		$	3,992		$	2,161		$	2,164		$	2,142		$	2,031		$	2,026
Average deposit balances
Interest-bearing	$	185,307		$	116,889		$	195,575		$	174,924		$	163,465		$	140,126		$	120,427
Noninterest-bearing	170,559			206,918			167,044			174,113			196,177			197,559			202,788
Total average deposits	$	355,866		$	323,807		$	362,619		$	349,037		$	359,642		$	337,685		$	323,215
Loan spread	1.43		%	1.54		%	1.41		%	1.44		%	1.43		%	1.48		%	1.54		%
Provision for credit losses	$	236		$	(7	)	$	125		$	111		$	85		$	(70	)	$	(23	)
Credit quality (4, 5)
Reservable criticized utilized exposure	$	10,260		$	10,482		$	10,260		$	10,308		$	9,488		$	10,065		$	10,482
	2.59		%	2.77		%	2.59		%	2.62		%	2.43		%	2.68		%	2.77		%
Nonperforming loans, leases and foreclosed properties	$	1,088		$	1,133		$	1,088		$	1,087		$	1,004		$	746		$	1,133
	0.29		%	0.32		%	0.29		%	0.29		%	0.28		%	0.21		%	0.32		%
Average loans and leases by product
U.S. commercial	$	215,294		$	201,808		$	215,941		$	214,642		$	206,350		$	201,372		$	202,879
Non-U.S. commercial	83,468			79,055			84,263			82,663			77,818			78,255			79,390
Commercial real estate	50,763			50,264			51,006			50,517			50,974			51,252			50,745
Commercial lease financing	21,800			22,268			21,320			22,286			22,266			21,831			22,069
Other	1			3			1			—			2			2			5
Total average loans and leases	$	371,326		$	353,398		$	372,531		$	370,108		$	357,410		$	352,712		$	355,088
Total Corporation Investment Banking fees
Advisory (2)	$	631		$	599		$	288		$	343		$	397		$	262		$	303
Debt issuance	1,494			1,701			746			748			699			684			874
Equity issuance	629			604			395			234			272			307			290
Total investment banking fees including self-led deals	2,754			2,904			1,429			1,325			1,368			1,253			1,467
Self-led deals	(119		)	(129		)	(58		)	(61		)	(20		)	(49		)	(45		)
Total Investment Banking fees	$	2,635		$	2,775		$	1,371		$	1,264		$	1,348		$	1,204		$	1,422

⁽¹⁾  Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.

⁽²⁾  Advisory includes fees on debt and equity advisory and mergers and acquisitions.

⁽³⁾  Investment banking fees represent only the fee component in Global Banking and do not include certain other items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽⁴⁾  Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial reservable utilized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers’ acceptances.

⁽⁵⁾  Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

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
Global Markets Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net interest income	$	1,764		$	1,989		$	811		$	953		$	935		$	933		$	968
Noninterest income:
Investment and brokerage services	877			918			433			444			474			388			430
Investment banking fees	1,121			1,261			584			537			513			522			651
Trading account income	4,043			4,577			1,961			2,082			1,132			1,551			2,020
All other income	521			318			356			165			193			479			182
Total noninterest income	6,562			7,074			3,334			3,228			2,312			2,940			3,283
Total revenue, net of interest expense (1)	8,326			9,063			4,145			4,181			3,247			3,873			4,251
Provision for credit losses	(18		)	(4		)	5			(23		)	6			(2		)	(1		)
Noninterest expense	5,432			5,651			2,677			2,755			2,552			2,633			2,726
Income before income taxes	2,912			3,416			1,463			1,449			689			1,242			1,526
Income tax expense	830			888			417			413			179			323			397
Net income	$	2,082		$	2,528		$	1,046		$	1,036		$	510		$	919		$	1,129
Return on average allocated capital (2)	12		%	15		%	12		%	12		%	6		%	10		%	13		%
Efficiency ratio	65.23			62.35			64.55			65.91			78.58			68.00			64.15
Balance Sheet
Average
Total trading-related assets	$	485,315		$	468,175		$	496,205		$	474,303		$	463,998		$	460,279		$	473,126
Total loans and leases	70,335			74,412			70,587			70,080			70,609			71,231			75,053
Total earning assets	473,242			488,307			474,061			472,414			458,331			459,073			490,482
Total assets	674,790			678,428			685,411			664,052			655,069			652,481			678,501
Total deposits	31,246			31,524			31,128			31,366			31,077			30,721			30,736
Allocated capital (2)	35,000			35,000			35,000			35,000			35,000			35,000			35,000
Period end
Total trading-related assets	$	487,094		$	441,657		$	487,094		$	485,637		$	447,998		$	456,643		$	441,657
Total loans and leases	74,136			73,496			74,136			70,052			73,928			73,023			73,496
Total earning assets	475,836			454,706			475,836			470,700			457,224			447,304			454,706
Total assets	674,985			637,110			674,985			671,123			641,923			646,359			637,110
Total deposits	29,961			31,450			29,961			31,073			37,841			41,102			31,450
Trading-related assets (average)
Trading account securities	$	238,400		$	209,772		$	251,401		$	225,254		$	225,335		$	215,397		$	209,271
Reverse repurchases	120,228			128,125			117,730			122,753			119,341			124,842			132,257
Securities borrowed	83,856			82,831			83,374			84,343			75,374			74,648			83,282
Derivative assets	42,831			47,447			43,700			41,953			43,948			45,392			48,316
Total trading-related assets	$	485,315		$	468,175		$	496,205		$	474,303		$	463,998		$	460,279		$	473,126

⁽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 25.

⁽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.

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. 24

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Six Months Ended June 30				Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018		Second Quarter 2018
	2019		2018
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	4,377	$	4,765	$	2,098	$	2,279	$	1,517	$	1,989	$	2,132
Equities	2,325		2,831		1,144		1,181		1,071		998		1,319
Total sales and trading revenue	$	6,702	$	7,596	$	3,242	$	3,460	$	2,588	$	2,987	$	3,451
Sales and trading revenue, excluding net debit valuation adjustment (2)
Fixed-income, currencies and commodities	$	4,486	$	4,871	$	2,128	$	2,358	$	1,472	$	2,069	$	2,316
Equities	2,337		2,840		1,145		1,192		1,064		1,017		1,314
Total sales and trading revenue, excluding net debit valuation adjustment	$	6,823	$	7,711	$	3,273	$	3,550	$	2,536	$	3,086	$	3,630
Sales and trading revenue breakdown
Net interest income	$	1,415	$	1,737	$	665	$	750	$	806	$	813	$	842
Commissions	857		896		424		433		463		378		420
Trading	4,041		4,576		1,960		2,081		1,131		1,550		2,020
Other	389		387		193		196		188		246		169
Total sales and trading revenue	$	6,702	$	7,596	$	3,242	$	3,460	$	2,588	$	2,987	$	3,451

⁽¹⁾  Includes Global Banking sales and trading revenue of $243 million and $244 million for the six months ended June 30, 2019 and 2018, and $128 million and $115 million for the second and first quarters of 2019, and $126 million, $51 million and $79 million for the fourth, third and second quarters of 2018, respectively.

⁽²⁾  For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional useful information to assess the underlying performance of these businesses and to allow better comparison of period-to-period operating performance.

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
All Other Results (1)
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Net interest income	$	73		$	302		$	78		$	(5	)	$	152		$	178		$	144
Noninterest income (loss)	(1,208		)	(1,262		)	(582		)	(626		)	(738		)	(258		)	(681		)
Total revenue, net of interest expense	(1,135		)	(960		)	(504		)	(631		)	(586		)	(80		)	(537		)
Provision for credit losses	(295		)	(257		)	(241		)	(54		)	(124		)	(95		)	(105		)
Noninterest expense	933			1,015			514			419			395			471			519
Loss before income taxes	(1,773		)	(1,718		)	(777		)	(996		)	(857		)	(456		)	(951		)
Income tax expense (benefit)	(1,734		)	(1,374		)	(786		)	(948		)	(917		)	(488		)	(602		)
Net income (loss)	$	(39	)	$	(344	)	$	9		$	(48	)	$	60		$	32		$	(349	)
Balance Sheet
Average
Total loans and leases	$	45,921		$	65,470		$	44,695		$	47,160		$	53,324		$	59,930		$	63,155
Total assets (2)	201,732			193,283			201,846			195,635			196,704			208,458			187,337
Total deposits	20,721			22,896			20,750			20,691			19,979			22,118			22,682
Period end
Total loans and leases	$	43,311		$	61,256		$	43,311		$	45,609		$	48,061		$	54,978		$	61,256
Total assets (3)	205,714			189,009			205,714			178,680			195,466			219,984			189,009
Total deposits	20,189			22,757			20,189			21,472			18,541			21,375			22,757

⁽¹⁾  All Other consists of ALM activities, equity investments, non-core mortgage loans and servicing activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass certain residential mortgages, debt securities, and interest rate and foreign currency risk management activities. Substantially all of the results of ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture, as well as a portfolio of equity, real estate and other alternative investments.

⁽²⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $543.0 billion and $517.1 billion for the six months ended June 30, 2019 and 2018, $549.5 billion and $542.4 billion for the second and first quarters of 2019, and $525.6 billion, $516.3 billion and $519.6 billion and the fourth, third and second quarters of 2018, respectively.

⁽³⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $544.0 billion, $566.8 billion, $540.8 billion, $529.8 billion and $522.2 billion at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, 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. 26

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	June 30 2019		March 31 2019		June 30 2018
Consumer
Residential mortgage	$	219,929	$	212,023	$	207,564
Home equity	44,134		46,241		53,587
U.S. credit card	93,989		93,009		94,790
Direct/Indirect consumer (1)	90,850		89,548		92,621
Other consumer (2)	174		152		167
Total consumer loans excluding loans accounted for under the fair value option	449,076		440,973		448,729
Consumer loans accounted for under the fair value option (3)	658		668		848
Total consumer	449,734		441,641		449,577
Commercial
U.S. commercial	305,695		300,399		289,741
Non-U.S. commercial	104,173		101,029		94,450
Commercial real estate (4)	61,659		61,215		61,073
Commercial lease financing	20,384		21,196		21,399
	491,911		483,839		466,663
U.S. small business commercial (5)	14,950		14,616		14,205
Total commercial loans excluding loans accounted for under the fair value option	506,861		498,455		480,868
Commercial loans accounted for under the fair value option (3)	7,205		5,519		5,379
Total commercial	514,066		503,974		486,247
Total loans and leases	$	963,800	$	945,615	$	935,824

⁽¹⁾  Includes auto and specialty lending loans and leases of $50.3 billion, $49.9 billion and $50.2 billion, unsecured consumer lending loans of $344 million, $355 million and $410 million, U.S. securities-based lending loans of $36.5 billion, $35.8 billion and $38.4 billion, non-U.S. consumer loans of $2.9 billion, $2.8 billion and $2.8 billion and other consumer loans of $811 million, $697 million and $769 million at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽²⁾  Substantially all of other consumer is consumer overdrafts.

⁽³⁾  Consumer loans accounted for under the fair value option includes residential mortgage loans of $300 million, $315 million and $489 million and home equity loans of $358 million, $353 million and $359 million at June 30, 2019, March 31, 2019 and June 30, 2018, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $3.9 billion, $2.8 billion and $3.5 billion and non-U.S. commercial loans of $3.3 billion, $2.7 billion and $1.9 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽⁴⁾  Includes U.S. commercial real estate loans of $57.0 billion, $56.8 billion and $57.1 billion and non-U.S. commercial real estate loans of $4.6 billion, $4.4 billion and $4.0 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽⁵⁾  Includes card-related products.

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. 27

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	215,822	$	99,946	$	78,334	$	—	$	—	$	37,542
Home equity	45,944		34,801		3,460		—		356		7,327
U.S. credit card	93,627		90,881		2,745		—		—		1
Direct/Indirect and other consumer	90,453		50,600		39,847		1		—		5
Total consumer	445,846		276,228		124,386		1		356		44,875
Commercial
U.S. commercial	318,243		20,146		38,165		215,941		43,775		216
Non-U.S. commercial	103,844		—		97		84,263		19,382		102
Commercial real estate	61,778		14		3,673		51,006		7,074		11
Commercial lease financing	20,814		—		3		21,320		—		(509		)
Total commercial	504,679		20,160		41,938		372,530		70,231		(180		)
Total loans and leases	$	950,525	$	296,388	$	166,324	$	372,531	$	70,587	$	44,695
	First Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	210,174	$	93,881	$	76,822	$	—	$	—	$	39,471
Home equity	47,690		35,816		3,575		—		348		7,951
U.S. credit card	95,008		92,213		2,795		—		—		—
Direct/Indirect and other consumer	90,430		50,602		39,824		—		—		4
Total consumer	443,302		272,512		123,016		—		348		47,426
Commercial
U.S. commercial	316,089		19,744		37,727		214,642		43,766		210
Non-U.S. commercial	101,996		—		107		82,663		19,198		28
Commercial real estate	60,859		13		3,550		50,517		6,768		11
Commercial lease financing	21,774		—		3		22,286		—		(515		)
Total commercial	500,718		19,757		41,387		370,108		69,732		(266		)
Total loans and leases	$	944,020	$	292,269	$	164,403	$	370,108	$	70,080	$	47,160
	Second Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	206,083	$	81,402	$	73,663	$	4	$	—	$	51,014
Home equity	54,863		38,239		3,829		—		365		12,430
U.S. credit card	93,531		90,481		3,050		—		—		—
Direct/Indirect and other consumer	93,620		51,602		42,011		1		—		6
Total consumer	448,097		261,724		122,553		5		365		63,450
Commercial
U.S. commercial	305,372		18,950		34,440		202,879		48,827		276
Non-U.S. commercial	99,255		—		24		79,390		19,800		41
Commercial real estate	60,653		15		3,813		50,745		6,061		19
Commercial lease financing	21,441		—		3		22,069		—		(631		)
Total commercial	486,721		18,965		38,280		355,083		74,688		(295		)
Total loans and leases	$	934,818	$	280,689	$	160,833	$	355,088	$	75,053	$	63,155

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. 28

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	June 30 2019		March 31 2019		June 30 2018		June 30 2019		March 31 2019		June 30 2018
Asset managers and funds	$	70,196	$	67,300	$	67,210	$	108,005	$	104,843	$	103,136
Real estate (5)	66,907		66,568		64,899		89,729		87,529		89,400
Capital goods	39,594		38,628		39,876		75,129		73,686		75,092
Finance companies	39,106		36,432		34,173		62,904		57,199		54,010
Healthcare equipment and services	35,420		36,095		35,299		57,097		56,488		57,893
Government and public education	42,813		42,950		45,827		54,774		54,321		55,565
Materials	27,850		28,203		26,261		52,257		52,286		50,435
Retailing	26,496		25,943		25,689		47,936		45,945		45,591
Consumer services	25,754		25,514		26,285		47,216		42,788		43,913
Food, beverage and tobacco	25,379		23,978		24,226		45,580		43,153		43,803
Commercial services and supplies	22,179		21,549		22,265		37,784		38,768		36,834
Energy	14,953		14,643		16,181		37,377		32,842		35,163
Transportation	24,867		23,519		21,425		34,581		32,099		30,054
Utilities	12,141		12,208		10,881		31,254		30,146		26,884
Global commercial banks	25,932		27,767		27,975		28,886		30,040		30,015
Individuals and trusts	18,880		18,628		18,507		25,752		25,159		24,487
Media	12,066		11,676		12,205		24,826		23,641		31,296
Technology hardware and equipment	9,405		11,514		9,827		21,707		24,398		20,933
Vehicle dealers	17,674		18,100		16,400		20,848		21,168		19,732
Consumer durables and apparel	10,311		9,870		9,201		19,993		18,625		18,568
Software and services	10,403		9,658		7,686		19,660		20,727		17,494
Pharmaceuticals and biotechnology	6,135		6,638		7,595		16,521		18,660		19,448
Telecommunication services	8,913		8,695		7,386		15,318		16,158		13,206
Automobiles and components	7,795		7,632		7,192		15,065		14,143		14,338
Financial markets infrastructure (clearinghouses)	11,626		8,338		5,343		13,345		10,053		7,135
Insurance	6,148		5,841		6,215		13,231		13,834		12,778
Food and staples retailing	5,850		5,982		5,222		9,768		9,733		11,259
Religious and social organizations	3,976		4,061		3,807		5,914		6,077		5,587
Total commercial credit exposure by industry	$	628,769	$	617,930	$	605,058	$	1,032,457	$	1,004,509	$	994,049

⁽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 $33.0 billion, $32.4 billion and $33.3 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $29.4 billion, $32.6 billion and $36.1 billion, which consists primarily of other marketable securities, at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽²⁾  Total utilized and total committed exposure includes loans of $7.2 billion, $5.5 billion and $5.4 billion and issued letters of credit with a notional amount of $107 million, $61 million and $167 million accounted for under the fair value option at June 30, 2019, March 31, 2019 and June 30, 2018, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $4.5 billion, $3.0 billion and $3.2 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽³⁾  Includes U.S. small business commercial exposure.

⁽⁴⁾  Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions.

⁽⁵⁾  Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the primary business activity of the borrowers or the counterparties using operating cash flows and primary source of repayment as key factors.

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. 29

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 June 30 2019		Hedges and Credit Default Protection (3)			Net Country Exposure at June 30 2019 (4)		Increase (Decrease) from March 31 2019
United Kingdom	$	30,513	$	17,718	$	7,816	$	2,390	$	58,437	$	(3,277	)	$	55,160	$	1,420
Germany	34,833		8,737		2,457		2,132		48,159		(2,332		)	45,827		11,875
Japan	20,546		697		1,073		1,757		24,073		(1,371		)	22,702		2,575
Canada	7,708		7,282		1,358		3,234		19,582		(549		)	19,033		1,799
India	7,952		822		447		5,170		14,391		(206		)	14,185		1,792
France	7,002		6,192		1,149		2,330		16,673		(2,893		)	13,780		1,089
China	11,467		384		778		1,041		13,670		(426		)	13,244		(943		)
Brazil	7,899		651		271		3,675		12,496		(233		)	12,263		626
Australia	6,335		3,434		457		893		11,119		(614		)	10,505		(922		)
Netherlands	6,928		2,800		406		961		11,095		(1,001		)	10,094		1,464
South Korea	5,911		587		674		2,775		9,947		(187		)	9,760		940
Switzerland	5,457		3,285		392		273		9,407		(609		)	8,798		1,223
Hong Kong	5,818		205		487		1,258		7,768		(31		)	7,737		237
Singapore	3,593		180		274		2,319		6,366		(68		)	6,298		347
Belgium	4,741		1,194		108		489		6,532		(246		)	6,286		62
Mexico	4,298		1,165		166		743		6,372		(163		)	6,209		(143		)
Spain	4,185		1,922		142		713		6,962		(988		)	5,974		1,358
United Arab Emirates	3,240		220		141		5		3,606		(59		)	3,547		(120		)
Italy	2,615		1,242		534		609		5,000		(1,473		)	3,527		(140		)
Ireland	1,597		778		106		158		2,639		(55		)	2,584		(127		)
Total top 20 non-U.S. countries exposure	$	182,638	$	59,495	$	19,236	$	32,925	$	294,294	$	(16,781	)	$	277,513	$	24,412

⁽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. 30

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	June 30 2019			March 31 2019			December 31 2018			September 30 2018			June 30 2018
Residential mortgage	$	1,744		$	1,773		$	1,893		$	2,034		$	2,140
Home equity	1,203			1,751			1,893			2,226			2,452
Direct/Indirect consumer	80			54			56			46			47
Total consumer	3,027			3,578			3,842			4,306			4,639
U.S. commercial	820			870			794			699			881
Non-U.S. commercial	122			80			80			31			170
Commercial real estate	112			213			156			46			117
Commercial lease financing	55			52			18			14			34
	1,109			1,215			1,048			790			1,202
U.S. small business commercial	51			57			54			58			56
Total commercial	1,160			1,272			1,102			848			1,258
Total nonperforming loans and leases	4,187			4,850			4,944			5,154			5,897
Foreclosed properties (1)	265			295			300			295			284
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	4,452		$	5,145		$	5,244		$	5,449		$	6,181
Fully-insured home loans past due 30 days or more and still accruing	$	2,155		$	2,390		$	2,790		$	3,183		$	3,454
Consumer credit card past due 30 days or more and still accruing	1,838			1,932			1,989			1,805			1,695
Other loans past due 30 days or more and still accruing	2,864			2,905			3,539			3,255			3,682
Total loans past due 30 days or more and still accruing (3, 5, 6)	$	6,857		$	7,227		$	8,318		$	8,243		$	8,831
Fully-insured home loans past due 90 days or more and still accruing	$	1,364		$	1,593		$	1,884		$	2,161		$	2,483
Consumer credit card past due 90 days or more and still accruing	941			1,005			994			872			865
Other loans past due 90 days or more and still accruing	268			181			352			256			341
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	2,573		$	2,779		$	3,230		$	3,289		$	3,689
Nonperforming loans, leases and foreclosed properties/Total assets (7)	0.19		%	0.22		%	0.22		%	0.23		%	0.27		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)	0.47			0.55			0.56			0.59			0.66
Nonperforming loans and leases/Total loans and leases (7)	0.44			0.52			0.52			0.56			0.63
Commercial reservable criticized utilized exposure (8)	$	11,834		$	11,821		$	11,061		$	11,597		$	12,357
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (8)	2.19		%	2.22		%	2.08		%	2.26		%	2.40		%
Total commercial criticized utilized exposure/Commercial utilized exposure (8)	2.04			2.07			1.93			2.16			2.34

⁽¹⁾  Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally loans insured by the Federal Housing Administration (FHA), that entered foreclosure of $294 million, $400 million, $488 million, $500 million and $573 million at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.

⁽²⁾  Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the FHA and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.

⁽³⁾  Balances do not include 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:

	June 30 2019		March 31 2019		December 31 2018		September 30 2018		June 30 2018
Nonperforming loans held-for-sale	$	278	$	457	$	291	$	177	$	220
Nonperforming loans accounted for under the fair value option	10		67		12		16		46

⁽⁵⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $3 million, $4 million, $53 million, $30 million and $28 million at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively, and loans held-for-sale past due 90 days or more and still accruing of $0, $1 million, $2 million, $8 million and $11 million at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively. At June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, there were $9 million, $6 million, $10 million, $21 million and $24 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.

⁽⁶⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁷⁾  Total assets and total loans and leases do not include loans accounted for under the fair value option of $7.9 billion, $6.2 billion, $4.3 billion, $5.7 billion and $6.2 billion at June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018, respectively.

⁽⁸⁾  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. 31

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	3,578		$	3,842		$	4,306		$	4,639		$	4,906
Additions	390			391			545			484			599
Reductions:
Paydowns and payoffs	(195		)	(188		)	(214		)	(238		)	(261		)
Sales	(502		)	(164		)	(438		)	(145		)	(117		)
Returns to performing status (2)	(189		)	(249		)	(274		)	(309		)	(336		)
Charge-offs (3)	(29		)	(28		)	(51		)	(89		)	(114		)
Transfers to foreclosed properties	(26		)	(26		)	(32		)	(36		)	(38		)
Total net reductions to nonperforming loans and leases	(551		)	(264		)	(464		)	(333		)	(267		)
Total nonperforming consumer loans and leases, end of period	3,027			3,578			3,842			4,306			4,639
Foreclosed properties	205			236			244			265			263
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	3,232		$	3,814		$	4,086		$	4,571		$	4,902
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,272		$	1,102		$	848		$	1,258		$	1,472
Additions	389			640			500			235			244
Reductions:
Paydowns	(210		)	(108		)	(122		)	(287		)	(193		)
Sales	(117		)	(43		)	(6		)	(130		)	(50		)
Return to performing status (5)	(23		)	(34		)	(33		)	(95		)	(91		)
Charge-offs	(151		)	(97		)	(85		)	(116		)	(112		)
Transfers to foreclosed properties	—			(7		)	—			(12		)	—
Transfers to loans held-for-sale	—			(181		)	—			(5		)	(12		)
Total net additions (reductions) to nonperforming loans and leases	(112		)	170			254			(410		)	(214		)
Total nonperforming commercial loans and leases, end of period	1,160			1,272			1,102			848			1,258
Foreclosed properties	60			59			56			30			21
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,220		$	1,331		$	1,158		$	878		$	1,279

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 31.

⁽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. 32

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Second Quarter 2019					First Quarter 2019					Fourth Quarter 2018					Third Quarter 2018					Second Quarter 2018
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage (2)	$	3		0.01	%	$	(16	)	(0.03	)%	$	15		0.03	%	$	12		0.02	%	$	7		0.01	%
Home equity (3)	(155		)	(1.36	)	11			0.10		(15		)	(0.12	)	(20		)	(0.15	)	—			—
U.S. credit card	762			3.26		745			3.18		699			2.90		698			2.92		739			3.17
Direct/Indirect consumer	40			0.18		54			0.24		53			0.23		42			0.18		41			0.18
Other consumer	41			n/m		41			n/m		52			n/m		44			n/m		43			n/m
Total consumer	691			0.62		835			0.77		804			0.71		776			0.69		830			0.74
U.S. commercial	66			0.09		83			0.11		43			0.06		70			0.10		78			0.11
Non-U.S. commercial	48			0.19		—			—		20			0.09		25			0.10		19			0.08
Commercial real estate	4			0.02		5			0.03		(2		)	(0.02	)	2			0.02		4			0.03
Commercial lease financing	13			0.26		—			—		(1		)	(0.01	)	—			—		1			0.01
	131			0.11		88			0.07		60			0.05		97			0.08		102			0.09
U.S. small business commercial	65			1.76		68			1.90		60			1.65		59			1.67		64			1.82
Total commercial	196			0.16		156			0.13		120			0.10		156			0.13		166			0.14
Total net charge-offs	$	887		0.38		$	991		0.43		$	924		0.39		$	932		0.40		$	996		0.43
By Business Segment and All Other
Consumer Banking	$	915		1.24	%	$	925		1.28	%	$	889		1.22	%	$	853		1.19	%	$	896		1.28	%
Global Wealth & Investment Management	12			0.03		12			0.03		8			0.02		13			0.03		15			0.04
Global Banking	129			0.14		82			0.09		56			0.06		85			0.10		86			0.10
Global Markets	—			—		—			—		—			—		3			0.02		14			0.08
All Other	(169		)	(1.54	)	(28		)	(0.24	)	(29		)	(0.22	)	(22		)	(0.15	)	(15		)	(0.10	)
Total net charge-offs	$	887		0.38		$	991		0.43		$	924		0.39		$	932		0.40		$	996		0.43

⁽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.

⁽²⁾  Includes loan sale charge-offs (recoveries) of $0 and $(10) million for the second and first quarters of 2019, and $25 million, $6 million and $(5) million for the fourth, third and second quarters of 2018, respectively.

⁽³⁾  Includes loan sale charge-offs (recoveries) of $(118) million and $24 million for the second and first quarters of 2019, and $0, $(8) million and $(2) million for the fourth, third and second quarters of 2018, respectively.

n/m = not meaningful

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
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Six Months Ended June 30
	2019					2018
	Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage (2)	$	(13	)	(0.01	)%	$	1		—	%
Home equity (3)	(144		)	(0.62	)	33			0.12
U.S. credit card	1,507			3.22		1,440			3.09
Direct/Indirect consumer	94			0.21		100			0.21
Other consumer	82			n/m		86			n/m
Total consumer	1,526			0.69		1,660			0.75
U.S. commercial	149			0.10		102			0.07
Non-U.S. commercial	48			0.10		23			0.05
Commercial real estate	9			0.03		1			—
Commercial lease financing	13			0.13		—			—
	219			0.09		126			0.05
U.S. small business commercial	133			1.83		121			1.75
Total commercial	352			0.14		247			0.10
Total net charge-offs	$	1,878		0.40		$	1,907		0.41
By Business Segment and All Other
Consumer Banking	$	1,840		1.26	%	$	1,773		1.28	%
Global Wealth & Investment Management	24			0.03		40			0.05
Global Banking	211			0.12		105			0.06
Global Markets	—			—		20			0.06
All Other	(197		)	(0.88	)	(31		)	(0.10	)
Total net charge-offs	$	1,878		0.40		$	1,907		0.41

⁽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.

⁽²⁾  Includes loan sale net recoveries of $10 million and $23 million for the six months ended June 30, 2019 and 2018.

⁽³⁾  Includes loan sale net recoveries of $94 million and $4 million for the six months ended June 30, 2019 and 2018.

n/m = not meaningful

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
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	June 30, 2019						March 31, 2019						June 30, 2018
	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)
Allowance for loan and lease losses
Residential mortgage	$	358	3.76	%	0.16	%	$	379	3.96	%	0.18	%	$	553	5.50	%	0.27	%
Home equity	361		3.79		0.82		443		4.63		0.96		813		8.09		1.52
U.S. credit card	3,706		38.90		3.94		3,666		38.27		3.94		3,477		34.60		3.67
Direct/Indirect consumer	233		2.45		0.26		238		2.49		0.27		269		2.68		0.29
Other consumer	31		0.33		n/m		30		0.31		n/m		28		0.28		n/m
Total consumer	4,689		49.23		1.04		4,756		49.66		1.08		5,140		51.15		1.15
U.S. commercial (3)	2,989		31.37		0.93		2,997		31.29		0.95		3,045		30.30		1.00
Non-U.S.commercial	708		7.43		0.68		705		7.36		0.70		751		7.47		0.79
Commercial real estate	972		10.20		1.58		965		10.08		1.58		952		9.47		1.56
Commercial lease financing	169		1.77		0.83		154		1.61		0.73		162		1.61		0.76
Total commercial	4,838		50.77		0.95		4,821		50.34		0.97		4,910		48.85		1.02
Allowance for loan and lease losses	9,527		100.00	%	1.00		9,577		100.00	%	1.02		10,050		100.00	%	1.08
Reserve for unfunded lending commitments	806						802						787
Allowance for credit losses	$	10,333					$	10,379					$	10,837
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (2)			1.00	%					1.02	%					1.08	%
Allowance for loan and lease losses/Total nonperforming loans and leases (4)			228						197						170
Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.68						2.38						2.52

⁽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 include residential mortgage loans of $300 million, $315 million and $489 million and home equity loans of $358 million, $353 million and $359 million at June 30, 2019, March 31, 2019 and June 30, 2018, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $3.9 billion, $2.8 billion and $3.5 billion and non-U.S. commercial loans of $3.3 billion, $2.7 billion and $1.9 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $7.9 billion, $6.2 billion and $6.2 billion at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽³⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $498 million, $489 million and $465 million at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

⁽⁴⁾  Allowance for loan and lease losses includes $4.1 billion, $4.1 billion and $4.0 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 June 30, 2019, March 31, 2019 and June 30, 2018, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 129 percent, 113 percent and 102 percent at June 30, 2019, March 31, 2019 and June 30, 2018, respectively.

n/m = not meaningful

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

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions, except per share information)

The Corporation evaluates its business 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 net income applicable to common shareholders as a percentage of adjusted average common shareholders’ equity. The tangible common equity ratio represents adjusted ending common shareholders’ equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s net income applicable to common shareholders 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 for reconciliations of these non-GAAP financial measures to the most closely related financial measures defined by GAAP for the six months ended June 30, 2019 and 2018 and the three months ended June 30, 2019, March 31, 2019, December 31, 2018, September 30, 2018 and June 30, 2018. 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.

	Six Months Ended June 30						Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018			Second Quarter 2018
	2019			2018
Reconciliation of average shareholders’ equity to average tangible common shareholders’ equity and average tangible shareholders’ equity
Shareholders’ equity	$	267,101		$	265,330		$	267,975		$	266,217		$	263,698		$	264,653		$	265,181
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,750		)	(2,193		)	(1,736		)	(1,763		)	(1,857		)	(1,992		)	(2,126		)
Related deferred tax liabilities	805			927			770			841			874			896			916
Tangible shareholders’ equity	$	197,205		$	195,113		$	198,058		$	196,344		$	193,764		$	194,606		$	195,020
Preferred stock	(22,433		)	(23,321		)	(22,537		)	(22,326		)	(22,326		)	(22,841		)	(23,868		)
Tangible common shareholders’ equity	$	174,772		$	171,792		$	175,521		$	174,018		$	171,438		$	171,765		$	171,152
Reconciliation of period-end shareholders’ equity to period-end tangible common shareholders’ equity and period-end tangible shareholders’ equity
Shareholders’ equity	$	271,408		$	264,216		$	271,408		$	267,010		$	265,325		$	262,158		$	264,216
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,718		)	(2,043		)	(1,718		)	(1,747		)	(1,774		)	(1,908		)	(2,043		)
Related deferred tax liabilities	756			900			756			773			858			878			900
Tangible shareholders’ equity	$	201,495		$	194,122		$	201,495		$	197,085		$	195,458		$	192,177		$	194,122
Preferred stock	(24,689		)	(23,181		)	(24,689		)	(22,326		)	(22,326		)	(22,326		)	(23,181		)
Tangible common shareholders’ equity	$	176,806		$	170,941		$	176,806		$	174,759		$	173,132		$	169,851		$	170,941
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,395,892		$	2,291,670		$	2,395,892		$	2,377,164		$	2,354,507		$	2,338,833		$	2,291,670
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,718		)	(2,043		)	(1,718		)	(1,747		)	(1,774		)	(1,908		)	(2,043		)
Related deferred tax liabilities	756			900			756			773			858			878			900
Tangible assets	$	2,325,979		$	2,221,576		$	2,325,979		$	2,307,239		$	2,284,640		$	2,268,852		$	2,221,576
Book value per share of common stock
Common shareholders’ equity	$	246,719		$	241,035		$	246,719		$	244,684		$	242,999		$	239,832		$	241,035
Ending common shares issued and outstanding	9,342.6			10,012.7			9,342.6			9,568.4			9,669.3			9,858.3			10,012.7
Book value per share of common stock	$	26.41		$	24.07		$	26.41		$	25.57		$	25.13		$	24.33		$	24.07
Tangible book value per share of common stock
Tangible common shareholders’ equity	$	176,806		$	170,941		$	176,806		$	174,759		$	173,132		$	169,851		$	170,941
Ending common shares issued and outstanding	9,342.6			10,012.7			9,342.6			9,568.4			9,669.3			9,858.3			10,012.7
Tangible book value per share of common stock	$	18.92		$	17.07		$	18.92		$	18.26		$	17.91		$	17.23		$	17.07

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