Supplemental Information

Third 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
Debt Securities	9
Supplemental Financial Data	10
Quarterly Results by Business Segment and All Other	11
Year-to-Date Results by Business Segment and All Other	13
Consumer Banking
Total Segment Results	14
Key Indicators	15
Business Results	16
Global Wealth & Investment Management
Total Segment Results	18
Key Indicators	19
Global Banking
Total Segment Results	20
Key Indicators	21
Global Markets
Total Segment Results	22
Key Indicators	23
All Other
Total Results	24
Outstanding Loans and Leases	25
Quarterly Average Loans and Leases by Business Segment and All Other	26
Commercial Credit Exposure by Industry	27
Top 20 Non-U.S. Countries Exposure	28
Nonperforming Loans, Leases and Foreclosed Properties	29
Nonperforming Loans, Leases and Foreclosed Properties Activity	30
Quarterly Net Charge-offs and Net Charge-off Ratios	31
Year-To-Date Net Charge-offs and Net Charge-off Ratios	32
Allocation of the Allowance for Credit Losses by Product Type	33
Exhibit A: Non-GAAP Reconciliations	34
The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. Additionally, the results for the total Corporation as presented on pages 11-13 are reported on an FTE basis.

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(In millions, except per share information)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Income statement
Net interest income	$	36,751		$	35,658		$	12,187		$	12,189		$	12,375		$	12,504		$	12,061
Noninterest income	32,144			32,685			10,620			10,895			10,629			10,173			10,663
Total revenue, net of interest expense	68,895			68,343			22,807			23,084			23,004			22,677			22,724
Provision for credit losses	2,649			2,377			779			857			1,013			905			716
Noninterest expense	41,661			40,080			15,169			13,268			13,224			13,074			13,014
Income tax expense	4,149			5,017			1,082			1,611			1,456			1,420			1,827
Net income	20,436			20,869			5,777			7,348			7,311			7,278			7,167
Preferred stock dividends	1,186			1,212			505			239			442			239			466
Net income applicable to common shareholders	19,250			19,657			5,272			7,109			6,869			7,039			6,701
Diluted earnings per common share	2.01			1.91			0.56			0.74			0.70			0.70			0.66
Average diluted common shares issued and outstanding	9,565.7			10,317.9			9,353.0			9,559.6			9,787.3			9,996.0			10,170.8
Dividends paid per common share	$	0.48		$	0.39		$	0.18		$	0.15		$	0.15		$	0.15		$	0.15
Performance ratios
Return on average assets	1.14		%	1.20		%	0.95		%	1.23		%	1.26		%	1.24		%	1.23		%
Return on average common shareholders’ equity	10.49			10.86			8.48			11.62			11.42			11.57			10.99
Return on average shareholders’ equity	10.19			10.52			8.48			11.00			11.14			10.95			10.74
Return on average tangible common shareholders’ equity (1)	14.67			15.30			11.84			16.24			16.01			16.29			15.48
Return on average tangible shareholders’ equity (1)	13.78			14.31			11.43			14.88			15.10			14.90			14.61
Efficiency ratio	60.47			58.65			66.51			57.48			57.48			57.65			57.27
At period end
Book value per share of common stock	$	26.96		$	24.33		$	26.96		$	26.41		$	25.57		$	25.13		$	24.33
Tangible book value per share of common stock (1)	19.26			17.23			19.26			18.92			18.26			17.91			17.23
Market capitalization	264,842			290,424			264,842			270,935			263,992			238,251			290,424
Number of financial centers - U.S.	4,302			4,385			4,302			4,349			4,353			4,341			4,385
Number of branded ATMs - U.S.	16,626			16,089			16,626			16,561			16,378			16,255			16,089
Headcount	208,561			204,681			208,561			208,984			205,292			204,489			204,681

⁽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 34.)

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)
	Nine Months Ended September 30				Third Quarter 2019		Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018
	2019		2018
Net interest income
Interest income	$	54,310	$	48,933	$	17,916	$	18,224	$	18,170	$	17,836	$	16,965
Interest expense	17,559		13,275		5,729		6,035		5,795		5,332		4,904
Net interest income	36,751		35,658		12,187		12,189		12,375		12,504		12,061
Noninterest income
Fees and commissions	24,495		24,733		8,467		8,190		7,838		8,345		8,076
Trading account income	6,390		6,421		1,707		2,345		2,338		1,448		1,717
Other income	1,259		1,531		446		360		453		380		870
Total noninterest income	32,144		32,685		10,620		10,895		10,629		10,173		10,663
Total revenue, net of interest expense	68,895		68,343		22,807		23,084		23,004		22,677		22,724
Provision for credit losses	2,649		2,377		779		857		1,013		905		716
Noninterest expense
Compensation and benefits	24,000		24,145		7,779		7,972		8,249		7,735		7,721
Occupancy and equipment	4,908		4,787		1,663		1,640		1,605		1,593		1,589
Information processing and communications	3,484		3,399		1,163		1,157		1,164		1,156		1,113
Product delivery and transaction related	2,067		2,149		696		709		662		708		687
Marketing	1,410		1,161		440		528		442		513		421
Professional fees	1,155		1,219		386		409		360		480		439
Other general operating	4,637		3,220		3,042		853		742		889		1,044
Total noninterest expense	41,661		40,080		15,169		13,268		13,224		13,074		13,014
Income before income taxes	24,585		25,886		6,859		8,959		8,767		8,698		8,994
Income tax expense	4,149		5,017		1,082		1,611		1,456		1,420		1,827
Net income	$	20,436	$	20,869	$	5,777	$	7,348	$	7,311	$	7,278	$	7,167
Preferred stock dividends	1,186		1,212		505		239		442		239		466
Net income applicable to common shareholders	$	19,250	$	19,657	$	5,272	$	7,109	$	6,869	$	7,039	$	6,701
Per common share information
Earnings	$	2.02	$	1.93	$	0.57	$	0.75	$	0.71	$	0.71	$	0.67
Diluted earnings	2.01		1.91		0.56		0.74		0.70		0.70		0.66
Average common shares issued and outstanding	9,516.2		10,177.5		9,303.6		9,523.2		9,725.9		9,855.8		10,031.6
Average diluted common shares issued and outstanding	9,565.7		10,317.9		9,353.0		9,559.6		9,787.3		9,996.0		10,170.8

Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net income	$	20,436		$	20,869		$	5,777		$	7,348		$	7,311		$	7,278		$	7,167
Other comprehensive income (loss), net-of-tax:
Net change in debt securities	6,231			(6,166		)	1,538			2,384			2,309			2,213			(1,172		)
Net change in debit valuation adjustments	(272		)	183			229			(138		)	(363		)	566			(269		)
Net change in derivatives	651			(346		)	118			304			229			293			21
Employee benefit plan adjustments	83			91			26			29			28			(496		)	31
Net change in foreign currency translation adjustments	(99		)	(303		)	(51		)	(14		)	(34		)	49			(114		)
Other comprehensive income (loss)	6,594			(6,541		)	1,860			2,565			2,169			2,625			(1,503		)
Comprehensive income	$	27,030		$	14,328		$	7,637		$	9,913		$	9,480		$	9,903		$	5,664

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)
	Nine Months Ended September 30				Third Quarter 2019		Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018
	2019		2018
Net interest income
Interest income
Loans and leases	$	32,721	$	30,095	$	10,894	$	10,942	$	10,885	$	10,716	$	10,401
Debt securities	8,965		8,646		2,829		3,017		3,119		3,078		2,986
Federal funds sold and securities borrowed or purchased under agreements to resell	3,746		2,130		1,242		1,309		1,195		1,046		799
Trading account assets	3,962		3,506		1,319		1,321		1,322		1,305		1,172
Other interest income	4,916		4,556		1,632		1,635		1,649		1,691		1,607
Total interest income	54,310		48,933		17,916		18,224		18,170		17,836		16,965
Interest expense
Deposits	5,640		2,933		1,880		1,965		1,795		1,562		1,230
Short-term borrowings	5,725		4,123		1,876		1,997		1,852		1,716		1,526
Trading account liabilities	967		1,040		303		319		345		318		335
Long-term debt	5,227		5,179		1,670		1,754		1,803		1,736		1,813
Total interest expense	17,559		13,275		5,729		6,035		5,795		5,332		4,904
Net interest income	$	36,751	$	35,658	$	12,187	$	12,189	$	12,375	$	12,504	$	12,061
Noninterest income
Fees and commissions
Card income
Interchange fees (1)	$	2,827	$	2,850	$	963	$	968	$	896	$	1,016	$	925
Other card income	1,459		1,452		502		478		479		506		492
Total card income	4,286		4,302		1,465		1,446		1,375		1,522		1,417
Service charges
Deposit-related fees	4,908		5,008		1,690		1,638		1,580		1,659		1,682
Lending-related fees	809		828		285		265		259		272		279
Total service charges	5,717		5,836		1,975		1,903		1,839		1,931		1,961
Investment and brokerage services
Asset management fees	7,591		7,653		2,597		2,554		2,440		2,536		2,576
Brokerage fees	2,733		2,963		897		916		920		1,008		918
Total investment and brokerage services	10,324		10,616		3,494		3,470		3,360		3,544		3,494
Investment banking fees
Underwriting income	2,198		2,160		740		792		666		562		701
Syndication fees	887		958		341		291		255		389		241
Financial advisory services	1,083		861		452		288		343		397		262
Total investment banking fees	4,168		3,979		1,533		1,371		1,264		1,348		1,204
Total fees and commissions	24,495		24,733		8,467		8,190		7,838		8,345		8,076
Trading account income	6,390		6,421		1,707		2,345		2,338		1,448		1,717
Other income	1,259		1,531		446		360		453		380		870
Total noninterest income	$	32,144	$	32,685	$	10,620	$	10,895	$	10,629	$	10,173	$	10,663

⁽¹⁾  Gross interchange fees were $7.4 billion and $7.0 billion and are presented net of $4.6 billion and $4.2 billion of expenses for rewards and partner payments for the nine months ended September 30, 2019 and 2018. Gross interchange fees were $2.6 billion, $2.5 billion, $2.3 billion, $2.5 billion and $2.4 billion and are presented net of $1.6 billion, $1.6 billion, $1.4 billion, $1.5 billion and $1.5 billion of expenses for rewards and partner payments for the third, second and first quarters of 2019 and the fourth and third 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)
		September 30 2019			June 30 2019			September 30 2018
Assets
Cash and due from banks		$	26,939		$	29,409		$	27,440
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		130,155			141,985			157,418
Cash and cash equivalents		157,094			171,394			184,858
Time deposits placed and other short-term investments		7,557			8,692			7,865
Federal funds sold and securities borrowed or purchased under agreements to resell		271,595			248,077			248,237
Trading account assets		263,684			251,987			219,118
Derivative assets		45,123			44,912			45,617
Debt securities:
Carried at fair value		254,342			246,094			251,635
Held-to-maturity, at cost		190,252			199,981			194,472
Total debt securities		444,594			446,075			446,107
Loans and leases		972,910			963,800			929,801
Allowance for loan and lease losses		(9,433		)	(9,527		)	(9,734		)
Loans and leases, net of allowance		963,477			954,273			920,067
Premises and equipment, net		10,493			10,426			9,680
Goodwill		68,951			68,951			68,951
Loans held-for-sale		9,811			5,416			5,576
Customer and other receivables		52,560			53,329			56,962
Other assets		131,391			132,360			125,795
Total assets		$	2,426,330		$	2,395,892		$	2,338,833
Liabilities
Deposits in U.S. offices:
Noninterest-bearing		$	394,379		$	393,567		$	414,853
Interest-bearing		917,401			900,434			844,204
Deposits in non-U.S. offices:
Noninterest-bearing		13,138			12,864			12,896
Interest-bearing		67,918			68,228			73,696
Total deposits		1,392,836			1,375,093			1,345,649
Federal funds purchased and securities loaned or sold under agreements to repurchase		202,067			194,948			171,600
Trading account liabilities		78,642			82,150			89,964
Derivative liabilities		38,025			38,380			36,189
Short-term borrowings		30,682			27,244			29,035
Accrued expenses and other liabilities		172,286			168,658			170,067
Long-term debt		243,405			238,011			234,171
Total liabilities		2,157,943			2,124,484			2,076,675
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,895,685, 3,939,040and 3,843,140 shares		23,606			24,689			22,326
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 9,079,264,535, 9,342,601,750 and 9,858,252,641 shares		99,215			106,619			123,921
Retained earnings		151,183			147,577			130,747
Accumulated other comprehensive income (loss)		(5,617		)	(7,477		)	(14,836		)
Total shareholders’ equity		268,387			271,408			262,158
Total liabilities and shareholders’ equity		$	2,426,330		$	2,395,892		$	2,338,833
	Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
	Trading account assets	$	5,758		$	5,469		$	6,145
	Loans and leases	39,387			40,676			44,163
	Allowance for loan and lease losses	(835		)	(882		)	(920		)
	Loans and leases, net of allowance	38,552			39,794			43,243
	All other assets	555			387			357
	Total assets of consolidated variable interest entities	$	44,865		$	45,650		$	49,745
	Liabilities of consolidated variable interest entities included in total liabilities above
	Short-term borrowings	$	2,274		$	1,845		$	905
	Long-term debt	8,560			7,393			11,024
	All other liabilities	26			27			39
	Total liabilities of consolidated variable interest entities	$	10,860		$	9,265		$	11,968

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)
	September 30 2019			June 30 2019			September 30 2018
Risk-based capital metrics (1):
Standardized Approach
Common equity tier 1 capital	$	169,203		$	171,498		$	164,386
Tier 1 capital	192,029			195,539			186,189
Total capital	225,444			228,965			218,159
Risk-weighted assets	1,485,965			1,466,537			1,439,419
Common equity tier 1 capital ratio	11.4		%	11.7		%	11.4		%
Tier 1 capital ratio	12.9			13.3			12.9
Total capital ratio	15.2			15.6			15.2
Advanced Approaches
Common equity tier 1 capital	$	169,203		$	171,498		$	164,386
Tier 1 capital	192,029			195,539			186,189
Total capital	217,199			220,904			209,950
Risk-weighted assets	1,441,246			1,430,745			1,424,105
Common equity tier 1 capital ratio	11.7		%	12.0		%	11.5		%
Tier 1 capital ratio	13.3			13.7			13.1
Total capital ratio	15.1			15.4			14.7
Leverage-based metrics (1)
Adjusted average assets	$	2,335,671		$	2,322,426		$	2,240,166
Tier 1 leverage ratio	8.2		%	8.4		%	8.3		%
Supplementary leverage exposure	$	2,897,754		$	2,872,393		$	2,787,880
Supplementary leverage ratio	6.6		%	6.8		%	6.7		%
Tangible equity ratio (2)	8.4			8.7			8.5
Tangible common equity ratio (2)	7.4			7.6			7.5

⁽¹⁾  Regulatory capital ratios at September 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 34.)

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)
	Third Quarter 2019						Second Quarter 2019						Third 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	$	122,033	$	453	1.47	%	$	122,395	$	495	1.62	%	$	144,411	$	523	1.44	%
Time deposits placed and other short-term investments	9,863		47		1.87		9,798		61		2.51		8,328		48		2.26
Federal funds sold and securities borrowed or purchased under agreements to resell	269,129		1,242		1.83		281,085		1,309		1.87		241,426		799		1.31
Trading account assets	157,818		1,338		3.37		146,865		1,337		3.65		128,896		1,195		3.68
Debt securities	447,126		2,856		2.56		446,447		3,047		2.72		445,813		3,014		2.66
Loans and leases (1):
Residential mortgage	224,084		1,937		3.46		215,822		1,899		3.52		209,460		1,857		3.54
Home equity	43,616		552		5.03		45,944		587		5.12		53,050		656		4.91
U.S. credit card	94,370		2,581		10.85		93,627		2,511		10.76		94,710		2,435		10.20
Direct/Indirect and other consumer	90,813		824		3.59		90,453		830		3.68		91,828		787		3.40
Total consumer	452,883		5,894		5.18		445,846		5,827		5.24		449,048		5,735		5.08
U.S. commercial	324,436		3,279		4.01		318,243		3,382		4.26		303,680		3,034		3.97
Non-U.S. commercial	105,003		905		3.42		103,844		894		3.45		96,019		831		3.43
Commercial real estate	62,185		687		4.38		61,778		720		4.67		60,754		682		4.45
Commercial lease financing	20,226		182		3.58		20,814		172		3.32		21,235		173		3.25
Total commercial	511,850		5,053		3.92		504,679		5,168		4.11		481,688		4,720		3.89
Total loans and leases	964,733		10,947		4.51		950,525		10,995		4.64		930,736		10,455		4.46
Other earning assets	68,018		1,181		6.90		66,607		1,129		6.79		72,827		1,082		5.91
Total earning assets (2)	2,038,720		18,064		3.52		2,023,722		18,373		3.64		1,972,437		17,116		3.45
Cash and due from banks	25,588						25,951						25,639
Other assets, less allowance for loan and lease losses	347,915						349,378						319,753
Total assets	$	2,412,223					$	2,399,051					$	2,317,829

⁽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:

	Third Quarter 2019				Second Quarter 2019				Third Quarter 2018
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks		$	13			$	18			$	5
Federal funds sold and securities borrowed or purchased under agreements to resell		(34		)		(63		)		(52		)
Debt securities		1				1				(2		)
U.S. commercial loans and leases		(9		)		(9		)		(8		)
Net hedge expense on assets		$	(29	)		$	(53	)		$	(57	)

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)
	Third Quarter 2019						Second Quarter 2019						Third 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	$	51,277	$	1	0.01	%	$	52,987	$	2	0.01	%	$	53,929	$	1	0.01	%
NOW and money market deposit accounts	741,602		1,172		0.63		737,095		1,228		0.67		680,285		737		0.43
Consumer CDs and IRAs	49,811		136		1.08		45,375		105		0.93		39,160		40		0.41
Negotiable CDs, public funds and other deposits	63,936		354		2.19		69,966		408		2.35		54,192		275		2.01
Total U.S. interest-bearing deposits	906,626		1,663		0.73		905,423		1,743		0.77		827,566		1,053		0.50
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	1,721		5		1.13		2,033		5		0.96		2,353		12		2.06
Governments and official institutions	188		—		0.02		179		—		0.05		709		—		0.01
Time, savings and other	70,234		212		1.20		68,706		217		1.26		63,179		165		1.04
Total non-U.S. interest-bearing deposits	72,143		217		1.19		70,918		222		1.25		66,241		177		1.07
Total interest-bearing deposits	978,769		1,880		0.76		976,341		1,965		0.81		893,807		1,230		0.55
Federal funds purchased, securities loaned or sold under agreements to repurchase, short-term borrowings and other interest-bearing liabilities	280,123		1,876		2.66		278,198		1,997		2.89		264,168		1,526		2.30
Trading account liabilities	45,750		303		2.63		47,022		319		2.72		50,904		335		2.60
Long-term debt	202,620		1,670		3.28		201,007		1,754		3.49		203,239		1,813		3.55
Total interest-bearing liabilities (1)	1,507,262		5,729		1.51		1,502,568		6,035		1.61		1,412,118		4,904		1.38
Noninterest-bearing sources:
Noninterest-bearing deposits	396,283						399,109						422,538
Other liabilities (2)	238,248						229,399						218,520
Shareholders’ equity	270,430						267,975						264,653
Total liabilities and shareholders’ equity	$	2,412,223					$	2,399,051					$	2,317,829
Net interest spread					2.01	%					2.03	%					2.07	%
Impact of noninterest-bearing sources					0.40						0.41						0.38
Net interest income/yield on earning assets (3)			$	12,335	2.41	%			$	12,338	2.44	%			$	12,212	2.45	%

⁽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:

	Third Quarter 2019				Second Quarter 2019				Third Quarter 2018
NOW and money market deposit accounts		$	—			$	—			$	1
Consumer CDs and IRAs		5				5				5
Negotiable CDs, public funds and other deposits		3				3				2
Banks located in non-U.S. countries		4				4				6
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		(52		)		(8		)		24
Net hedge (income) expense on liabilities		$	(35	)		$	9			$	68

⁽²⁾  Includes$38.1 billion, $35.0 billion and $30.3 billion of structured notes and liabilities for the third and second quarters of 2019 and the third quarter of 2018, respectively.

⁽³⁾  Net interest income includes FTE adjustments of $148 million, $149 million and $151 million for the third and second quarters of 2019 and the third 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
Debt Securities
(Dollars in millions)
	September 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	133,973	$	1,250	$	(274	)	$	134,949
Agency-collateralized mortgage obligations	4,877		103		(18		)	4,962
Commercial	14,301		380		(4		)	14,677
Non-agency residential	1,725		227		(9		)	1,943
Total mortgage-backed securities	154,876		1,960		(305		)	156,531
U.S. Treasury and agency securities	55,746		1,364		(163		)	56,947
Non-U.S. securities	11,074		7		(2		)	11,079
Other taxable securities, substantially all asset-backed securities	3,806		77		—			3,883
Total taxable securities	225,502		3,408		(470		)	228,440
Tax-exempt securities	16,263		203		(34		)	16,432
Total available-for-sale debt securities	241,765		3,611		(504		)	244,872
Other debt securities carried at fair value (1)	9,284		205		(19		)	9,470
Total debt securities carried at fair value	251,049		3,816		(523		)	254,342
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	190,252		4,358		(336		)	194,274
Total debt securities	$	441,301	$	8,174	$	(859	)	$	448,616
	June 30, 2019
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 (1)	9,942		195		(22		)	10,115
Total debt securities carried at fair value	244,749		2,499		(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	$	444,730	$	5,838	$	(1,990	)	$	448,578

⁽¹⁾  Primarily includes non-U.S. securities used to satisfy certain international regulatory 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. 9

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Fully taxable-equivalent (FTE) basis data (1)
Net interest income	$	37,201		$	36,113		$	12,335		$	12,338		$	12,528		$	12,659		$	12,212
Total revenue, net of interest expense	69,345			68,798			22,955			23,233			23,157			22,832			22,875
Net interest yield	2.45		%	2.43		%	2.41		%	2.44		%	2.51		%	2.52		%	2.45		%
Efficiency ratio	60.08			58.26			66.08			57.11			57.10			57.26			56.89

⁽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 $450 million and $455 million for the nine months ended September 30, 2019 and 2018, and $148 million, $149 million and $153 million for the third, second and first quarters of 2019, and $155 million and $151 million for the fourth and third 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. 10

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Third Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All Other
Net interest income	$	12,335	$	7,031	$	1,609	$	2,617	$	1,016	$	62
Noninterest income
Fees and commissions:
Card income	1,465		1,289		26		132		19		(1		)
Service charges	1,975		1,097		16		763		92		7
Investment and brokerage services	3,494		75		3,001		10		419		(11		)
Investment banking fees	1,533		—		89		902		585		(43		)
Total fees and commissions	8,467		2,461		3,132		1,807		1,115		(48		)
Trading account income	1,707		1		26		84		1,580		16
Other income (loss)	446		231		137		704		153		(779		)
Total noninterest income (loss)	10,620		2,693		3,295		2,595		2,848		(811		)
Total revenue, net of interest expense	22,955		9,724		4,904		5,212		3,864		(749		)
Provision for credit losses	779		917		37		120		—		(295		)
Noninterest expense	15,169		4,393		3,413		2,220		2,679		2,464
Income (loss) before income taxes	7,007		4,414		1,454		2,872		1,185		(2,918		)
Income tax expense (benefit)	1,230		1,081		356		775		338		(1,320		)
Net income	$	5,777	$	3,333	$	1,098	$	2,097	$	847	$	(1,598	)
Average
Total loans and leases	$	964,733	$	303,833	$	170,414	$	377,109	$	71,589	$	41,788
Total assets (1)	2,412,223		781,670		289,447		441,186		687,393		212,527
Total deposits	1,375,052		709,273		254,449		360,457		30,155		20,718
Quarter end
Total loans and leases	$	972,910	$	307,925	$	172,677	$	377,658	$	74,979	$	39,671
Total assets (1)	2,426,330		788,743		288,317		452,642		689,023		207,605
Total deposits	1,392,836		715,715		252,466		371,887		30,885		21,883
	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		21		135		22		—
Service charges	1,903		1,046		16		749		87		5
Investment and brokerage services	3,470		75		2,962		7		433		(7		)
Investment banking fees	1,371		—		127		717		585		(58		)
Total fees and commissions	8,190		2,389		3,126		1,608		1,127		(60		)
Trading account income	2,345		2		30		56		1,961		296
Other income (loss)	360		210		120		602		245		(817		)
Total noninterest income (loss)	10,895		2,601		3,276		2,266		3,333		(581		)
Total revenue, net of interest expense	23,233		9,717		4,900		4,975		4,144		(503		)
Provision for credit losses	857		947		21		125		5		(241		)
Noninterest expense	13,268		4,408		3,459		2,211		2,675		515
Income (loss) before income taxes	9,108		4,362		1,420		2,639		1,464		(777		)
Income tax expense (benefit)	1,760		1,069		348		713		417		(787		)
Net income	$	7,348	$	3,293	$	1,072	$	1,926	$	1,047	$	10
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		685,412		201,845
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

⁽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. 11

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Third Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	12,212	$	6,844	$	1,531	$	2,726		$	933		$	178
Noninterest income
Fees and commissions:
Card income	1,417		1,237		34		124			21			1
Service charges	1,961		1,098		19		753			86			5
Investment and brokerage services	3,494		80		3,004		27			388			(5		)
Investment banking fees	1,204		—		87		644			522			(49		)
Total fees and commissions	8,076		2,415		3,144		1,548			1,017			(48		)
Trading account income	1,717		2		24		60			1,551			80
Other income (loss)	870		181		118		489			372			(290		)
Total noninterest income (loss)	10,663		2,598		3,286		2,097			2,940			(258		)
Total revenue, net of interest expense	22,875		9,442		4,817		4,823			3,873			(80		)
Provision for credit losses	716		870		13		(70		)	(2		)	(95		)
Noninterest expense	13,014		4,325		3,443		2,142			2,633			471
Income (loss) before income taxes	9,145		4,247		1,361		2,751			1,242			(456		)
Income tax expense (benefit)	1,978		1,082		347		714			323			(488		)
Net income	$	7,167	$	3,165	$	1,014	$	2,037		$	919		$	32
Average
Total loans and leases	$	930,736	$	284,994	$	161,869	$	352,712		$	71,231		$	59,930
Total assets (1)	2,317,829		759,665		273,582		423,643			652,481			208,458
Total deposits	1,316,345		687,530		238,291		337,685			30,721			22,118
Quarter end
Total loans and leases	$	929,801	$	287,277	$	162,191	$	352,332		$	73,023		$	54,978
Total assets (1)	2,338,833		765,498		276,146		430,846			646,359			219,984
Total deposits	1,345,649		692,770		239,654		350,748			41,102			21,375

⁽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. 12

Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Nine Months Ended September 30, 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	37,201	$	21,253	$	4,917	$	8,116		$	2,780		$	135
Noninterest income
Fees and commissions:
Card income	4,286		3,754		73		398			61			—
Service charges	5,717		3,163		50		2,225			261			18
Investment and brokerage services	10,324		223		8,805		26			1,296			(26		)
Investment banking fees	4,168		—		296		2,328			1,707			(163		)
Total fees and commissions	24,495		7,140		9,224		4,977			3,325			(171		)
Trading account income	6,390		5		90		190			5,623			482
Other income (loss)	1,259		675		393		2,059			461			(2,329		)
Total noninterest income (loss)	32,144		7,820		9,707		7,226			9,409			(2,018		)
Total revenue, net of interest expense	69,345		29,073		14,624		15,342			12,189			(1,883		)
Provision for credit losses	2,649		2,838		63		356			(18		)	(590		)
Noninterest expense	41,661		13,157		10,300		6,697			8,109			3,398
Income (loss) before income taxes	25,035		13,078		4,261		8,289			4,098			(4,691		)
Income tax expense (benefit)	4,599		3,204		1,044		2,238			1,168			(3,055		)
Net income (loss)	$	20,436	$	9,874	$	3,217	$	6,051		$	2,930		$	(1,636	)
Average
Total loans and leases	$	953,169	$	297,539	$	167,069	$	373,275		$	70,757		$	44,529
Total assets (1)	2,390,943		776,818		292,102		437,570			679,038			205,415
Total deposits	1,370,178		704,459		256,708		357,413			30,878			20,720
Period end
Total loans and leases	$	972,910	$	307,925	$	172,677	$	377,658		$	74,979		$	39,671
Total assets (1)	2,426,330		788,743		288,317		452,642			689,023			207,605
Total deposits	1,392,836		715,715		252,466		371,887			30,885			21,883
	Nine Months Ended September 30, 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income	$	36,113	$	19,914	$	4,653	$	8,144		$	2,922		$	480
Noninterest income
Fees and commissions:
Card income	4,302		3,763		92		382			63			2
Service charges	5,836		3,214		55		2,285			266			16
Investment and brokerage services	10,616		242		8,981		71			1,306			16
Investment banking fees	3,979		—		244		2,130			1,783			(178		)
Total fees and commissions	24,733		7,219		9,372		4,868			3,418			(144		)
Trading account income	6,421		6		81		184			6,129			21
Other income (loss)	1,531		517		308		1,636			466			(1,396		)
Total noninterest income (loss)	32,685		7,742		9,761		6,688			10,013			(1,519		)
Total revenue, net of interest expense	68,798		27,656		14,414		14,832			12,935			(1,039		)
Provision for credit losses	2,377		2,749		63		(77		)	(6		)	(352		)
Noninterest expense	40,080		13,241		10,451		6,618			8,283			1,487
Income (loss) before income taxes	26,341		11,666		3,900		8,291			4,658			(2,174		)
Income tax expense (benefit)	5,472		2,975		994		2,154			1,211			(1,862		)
Net income (loss)	$	20,869	$	8,691	$	2,906	$	6,137		$	3,447		$	(312	)
Average
Total loans and leases	$	932,485	$	281,767	$	160,609	$	353,167		$	73,340		$	63,602
Total assets (1)	2,322,099		755,479		275,183		423,355			669,684			198,398
Total deposits	1,304,827		683,279		239,176		328,484			31,253			22,635
Period end
Total loans and leases	$	929,801	$	287,277	$	162,191	$	352,332		$	73,023		$	54,978
Total assets (1)	2,338,833		765,498		276,146		430,846			646,359			219,984
Total deposits	1,345,649		692,770		239,654		350,748			41,102			21,375

⁽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
Consumer Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net interest income	$	21,253		$	19,914		$	7,031		$	7,116		$	7,106		$	7,111		$	6,844
Noninterest income:
Card income	3,754			3,763			1,289			1,268			1,197			1,339			1,237
Service charges	3,163			3,214			1,097			1,046			1,020			1,086			1,098
All other income	903			765			307			287			309			426			263
Total noninterest income	7,820			7,742			2,693			2,601			2,526			2,851			2,598
Total revenue, net of interest expense	29,073			27,656			9,724			9,717			9,632			9,962			9,442
Provision for credit losses	2,838			2,749			917			947			974			915			870
Noninterest expense	13,157			13,241			4,393			4,408			4,356			4,436			4,325
Income before income taxes	13,078			11,666			4,414			4,362			4,302			4,611			4,247
Income tax expense	3,204			2,975			1,081			1,069			1,054			1,174			1,082
Net income	$	9,874		$	8,691		$	3,333		$	3,293		$	3,248		$	3,437		$	3,165
Net interest yield	3.87		%	3.72		%	3.77		%	3.87		%	3.96		%	3.92		%	3.77		%
Return on average allocated capital (1)	36			31			36			36			36			37			34
Efficiency ratio	45.26			47.88			45.18			45.37			45.22			44.54			45.81
Balance Sheet
Average
Total loans and leases	$	297,539		$	281,767		$	303,833		$	296,388		$	292,269		$	289,862		$	284,994
Total earning assets (2)	734,976			716,467			739,765			737,678			727,350			719,329			720,643
Total assets (2)	776,818			755,479			781,670			779,384			769,262			759,027			759,665
Total deposits	704,459			683,279			709,273			707,028			696,939			686,826			687,530
Allocated capital (1)	37,000			37,000			37,000			37,000			37,000			37,000			37,000
Period end
Total loans and leases	$	307,925		$	287,277		$	307,925		$	300,412		$	292,454		$	294,335		$	287,277
Total earning assets (2)	747,251			726,486			747,251			744,219			752,620			728,813			726,486
Total assets (2)	788,743			765,498			788,743			786,963			794,510			768,881			765,498
Total deposits	715,715			692,770			715,715			714,223			721,727			696,146			692,770

⁽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. 14

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Average deposit balances
Checking	$	371,924		$	349,015		$	376,821		$	373,912		$	364,908		$	356,609		$	354,013
Savings	50,994			53,139			50,013			51,688			51,294			50,968			52,306
MMS	241,141			241,885			239,941			241,050			242,460			241,576			243,064
CDs and IRAs	37,639			36,247			39,727			37,577			35,566			34,831			35,225
Other	2,761			2,993			2,771			2,801			2,711			2,842			2,922
Total average deposit balances	$	704,459		$	683,279		$	709,273		$	707,028		$	696,939		$	686,826		$	687,530
Deposit spreads (excludes noninterest costs)
Checking	2.32		%	2.13		%	2.31		%	2.34		%	2.31		%	2.23		%	2.18		%
Savings	2.53			2.41			2.53			2.55			2.53			2.49			2.45
MMS	2.47			2.00			2.46			2.50			2.45			2.29			2.15
CDs and IRAs	2.16			1.99			1.88			2.21			2.42			2.40			2.22
Other	2.66			2.12			2.48			2.74			2.78			2.61			2.47
Total deposit spreads	2.38			2.10			2.35			2.40			2.38			2.28			2.19
Consumer investment assets	$	223,199		$	203,882		$	223,199		$	219,732		$	210,930		$	185,881		$	203,882
Active digital banking users (units in thousands) (1)	37,981			36,174			37,981			37,292			37,034			36,264			36,174
Active mobile banking users (units in thousands)	28,703			25,990			28,703			27,818			27,127			26,433			25,990
Financial centers	4,302			4,385			4,302			4,349			4,353			4,341			4,385
ATMs	16,626			16,089			16,626			16,561			16,378			16,255			16,089
Total U.S. credit card(2)
Loans
Average credit card outstandings	$	94,333		$	94,222		$	94,370		$	93,627		$	95,008		$	95,766		$	94,710
Ending credit card outstandings	94,946			94,829			94,946			93,989			93,009			98,338			94,829
Credit quality
Net charge-offs	$	2,224		$	2,138		$	717		$	762		$	745		$	699		$	698
	3.15		%	3.03		%	3.01		%	3.26		%	3.18		%	2.90		%	2.92		%
30+ delinquency	$	1,937		$	1,805		$	1,937		$	1,838		$	1,932		$	1,989		$	1,805
	2.04		%	1.90		%	2.04		%	1.96		%	2.08		%	2.02		%	1.90		%
90+ delinquency	$	960		$	872		$	960		$	941		$	1,005		$	994		$	872
	1.01		%	0.92		%	1.01		%	1.00		%	1.08		%	1.01		%	0.92		%
Other Total U.S. credit card indicators (2)
Gross interest yield	10.80		%	10.00		%	10.85		%	10.76		%	10.80		%	10.49		%	10.20		%
Risk-adjusted margin	8.14			8.09			8.46			7.93			8.03			8.73			8.08
New accounts (in thousands)	3,274			3,496			1,172			1,068			1,034			1,048			1,116
Purchase volumes	$	204,135		$	194,658		$	71,096		$	70,288		$	62,751		$	70,048		$	66,490
Debit card data
Purchase volumes (3)	$	267,204		$	250,715		$	90,942		$	91,232		$	85,030		$	88,094		$	85,529
Loan production(4)
Total (5):
First mortgage	$	50,353		$	31,778		$	20,664		$	18,229		$	11,460		$	9,417		$	10,682
Home equity	8,132			11,229			2,539			2,768			2,825			3,640			3,399
Consumer Banking:
First mortgage	$	34,534		$	21,053		$	13,622		$	12,757		$	8,155		$	6,227		$	7,208
Home equity	7,109			10,042			2,219			2,405			2,485			3,209			3,053

⁽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⁾  Historical information has been restated for Original Credit Transaction volume.

⁽⁴⁾  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.

⁽⁵⁾  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. 15

Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Third Quarter 2019									Second Quarter 2019
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	7,031		$	4,197		$	2,834		$	7,116		$	4,363		$	2,753
Noninterest income:
Card income	1,289			(11		)	1,300			1,268			(6		)	1,274
Service charges	1,097			1,096			1			1,046			1,046			—
All other income	307			233			74			287			208			79
Total noninterest income	2,693			1,318			1,375			2,601			1,248			1,353
Total revenue, net of interest expense	9,724			5,515			4,209			9,717			5,611			4,106
Provision for credit losses	917			84			833			947			44			903
Noninterest expense	4,393			2,651			1,742			4,408			2,665			1,743
Income before income taxes	4,414			2,780			1,634			4,362			2,902			1,460
Income tax expense	1,081			681			400			1,069			711			358
Net income	$	3,333		$	2,099		$	1,234		$	3,293		$	2,191		$	1,102
Net interest yield	3.77		%	2.37		%	3.76		%	3.87		%	2.49		%	3.79		%
Return on average allocated capital (1)	36			69			20			36			73			18
Efficiency ratio	45.18			48.08			41.38			45.37			47.51			42.45
Balance Sheet
Average
Total loans and leases	$	303,833		$	5,405		$	298,428		$	296,388		$	5,333		$	291,055
Total earning assets (2)	739,765			703,889			299,041			737,678			702,662			291,492
Total assets (2)	781,670			735,844			308,991			779,384			734,117			301,743
Total deposits	709,273			703,562			5,711			707,028			701,790			5,238
Allocated capital (1)	37,000			12,000			25,000			37,000			12,000			25,000
Period end
Total loans and leases	$	307,925		$	5,447		$	302,478		$	300,412		$	5,340		$	295,072
Total earning assets (2)	747,251			711,024			303,195			744,219			708,382			295,561
Total assets (2)	788,743			742,583			313,128			786,963			740,485			306,202
Total deposits	715,715			710,149			5,566			714,223			708,162			6,061
										Third Quarter 2018
										Total Consumer Banking			Deposits			Consumer Lending
Net interest income										$	6,844		$	4,052		$	2,792
Noninterest income:
Card income										1,237			(10		)	1,247
Service charges										1,098			1,098			—
All other income										263			189			74
Total noninterest income										2,598			1,277			1,321
Total revenue, net of interest expense										9,442			5,329			4,113
Provision for credit losses										870			48			822
Noninterest expense										4,325			2,620			1,705
Income before income taxes										4,247			2,661			1,586
Income tax expense										1,082			678			404
Net income										$	3,165		$	1,983		$	1,182
Net interest yield										3.77		%	2.34		%	3.95		%
Return on average allocated capital (1)										34			66			19
Efficiency ratio										45.81			49.17			41.45
Balance Sheet
Average
Total loans and leases										$	284,994		$	5,269		$	279,725
Total earning assets (2)										720,643			685,653			280,637
Total assets (2)										759,665			713,942			291,370
Total deposits										687,530			681,726			5,804
Allocated capital (1)										37,000			12,000			25,000
Period end
Total loans and leases										$	287,277		$	5,276		$	282,001
Total earning assets (2)										726,486			690,960			282,921
Total assets (2)										765,498			719,127			293,766
Total deposits										692,770			686,723			6,047

⁽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. 16

Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Nine Months Ended September 30
	2019									2018
	Total Consumer Banking			Deposits			Consumer Lending			Total Consumer Banking			Deposits			Consumer Lending
Net interest income	$	21,253		$	12,867		$	8,386		$	19,914		$	11,658		$	8,256
Noninterest income:
Card income	3,754			(24		)	3,778			3,763			(25		)	3,788
Service charges	3,163			3,162			1			3,214			3,213			1
All other income	903			673			230			765			510			255
Total noninterest income	7,820			3,811			4,009			7,742			3,698			4,044
Total revenue, net of interest expense	29,073			16,678			12,395			27,656			15,356			12,300
Provision for credit losses	2,838			173			2,665			2,749			135			2,614
Noninterest expense	13,157			7,956			5,201			13,241			7,986			5,255
Income before income taxes	13,078			8,549			4,529			11,666			7,235			4,431
Income tax expense	3,204			2,094			1,110			2,975			1,845			1,130
Net income	$	9,874		$	6,455		$	3,419		$	8,691		$	5,390		$	3,301
Net interest yield	3.87		%	2.46		%	3.83		%	3.72		%	2.29		%	3.98		%
Return on average allocated capital (1)	36			72			18			31			60			18
Efficiency ratio	45.26			47.70			41.97			47.88			52.01			42.72
Balance Sheet
Average
Total loans and leases	$	297,539		$	5,351		$	292,188		$	281,767		$	5,211		$	276,556
Total earning assets (2)	734,976			699,907			292,641			716,467			681,914			277,295
Total assets (2)	776,818			731,528			302,862			755,479			709,997			288,224
Total deposits	704,459			699,217			5,242			683,279			677,684			5,595
Allocated capital (1)	37,000			12,000			25,000			37,000			12,000			25,000
Period end
Total loans and leases	$	307,925		$	5,447		$	302,478		$	287,277		$	5,276		$	282,001
Total earning assets (2)	747,251			711,024			303,195			726,486			690,960			282,921
Total assets (2)	788,743			742,583			313,128			765,498			719,127			293,766
Total deposits	715,715			710,149			5,566			692,770			686,723			6,047

For footnotes, see page 16.

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
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net interest income	$	4,917		$	4,653		$	1,609		$	1,624		$	1,684		$	1,612		$	1,531
Noninterest income:
Investment and brokerage services	8,805			8,981			3,001			2,962			2,842			2,977			3,004
All other income	902			780			294			314			294			450			282
Total noninterest income	9,707			9,761			3,295			3,276			3,136			3,427			3,286
Total revenue, net of interest expense	14,624			14,414			4,904			4,900			4,820			5,039			4,817
Provision for credit losses	63			63			37			21			5			23			13
Noninterest expense	10,300			10,451			3,413			3,459			3,428			3,563			3,443
Income before income taxes	4,261			3,900			1,454			1,420			1,387			1,453			1,361
Income tax expense	1,044			994			356			348			340			370			347
Net income	$	3,217		$	2,906		$	1,098		$	1,072		$	1,047		$	1,083		$	1,014
Net interest yield	2.35		%	2.41		%	2.30		%	2.35		%	2.40		%	2.41		%	2.37		%
Return on average allocated capital (1)	30			27			30			30			29			30			28
Efficiency ratio	70.43			72.50			69.60			70.58			71.13			70.72			71.48
Balance Sheet
Average
Total loans and leases	$	167,069		$	160,609		$	170,414		$	166,324		$	164,403		$	163,516		$	161,869
Total earning assets (2)	279,790			258,046			277,349			277,071			285,033			265,039			256,286
Total assets (2)	292,102			275,183			289,447			289,819			297,123			283,264			273,582
Total deposits	256,708			239,176			254,449			253,925			261,831			247,427			238,291
Allocated capital (1)	14,500			14,500			14,500			14,500			14,500			14,500			14,500
Period end
Total loans and leases	$	172,677		$	162,191		$	172,677		$	168,993		$	164,483		$	164,854		$	162,191
Total earning assets (2)	275,884			258,562			275,884			275,457			284,470			287,199			258,562
Total assets (2)	288,317			276,146			288,317			287,878			296,785			305,907			276,146
Total deposits	252,466			239,654			252,466			251,818			261,168			268,700			239,654

⁽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. 18

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Revenue by Business
Merrill Lynch Global Wealth Management	$	12,065		$	11,834		$	4,053		$	4,047		$	3,965		$	4,164		$	3,951
Bank of America Private Bank	2,559			2,580			851			853			855			875			866
Total revenue, net of interest expense	$	14,624		$	14,414		$	4,904		$	4,900		$	4,820		$	5,039		$	4,817
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,443,614		$	2,385,479		$	2,443,614		$	2,440,710		$	2,384,492		$	2,193,562		$	2,385,479
Bank of America Private Bank	462,347			455,894			462,347			458,081			452,477			427,294			455,894
Total client balances	$	2,905,961		$	2,841,373		$	2,905,961		$	2,898,791		$	2,836,969		$	2,620,856		$	2,841,373
Client Balances by Type, at period end
Assets under management (1, 2)	$	1,212,120		$	1,182,504		$	1,212,120		$	1,203,783		$	1,169,713		$	1,072,234		$	1,182,504
Brokerage and other assets	1,305,926			1,292,219			1,305,926			1,314,457			1,282,091			1,162,997			1,292,219
Deposits	252,466			239,654			252,466			251,818			261,168			268,700			239,654
Loans and leases (3)	175,579			165,125			175,579			172,265			167,455			167,938			165,125
Less: Managed deposits in assets under management (1)	(40,130		)	(38,129		)	(40,130		)	(43,532		)	(43,458		)	(51,013		)	(38,129		)
Total client balances	$	2,905,961		$	2,841,373		$	2,905,961		$	2,898,791		$	2,836,969		$	2,620,856		$	2,841,373
Assets Under Management Rollforward(1)
Assets under management, beginning balance	$	1,072,234		$	1,121,383		$	1,203,783		$	1,169,713		$	1,072,234		$	1,182,504		$	1,138,500
Net client flows	16,721			40,080			5,529			5,274			5,918			4,527			8,202
Market valuation/other	123,165			21,041			2,808			28,796			91,561			(114,797		)	35,802
Total assets under management, ending balance	$	1,212,120		$	1,182,504		$	1,212,120		$	1,203,783		$	1,169,713		$	1,072,234		$	1,182,504
Associates, at period end
Number of financial advisors	17,657			17,456			17,657			17,508			17,535			17,518			17,456
Total wealth advisors, including financial advisors	19,672			19,343			19,672			19,512			19,524			19,459			19,343
Total primary sales professionals, including financial advisors and wealth advisors	20,775			20,466			20,775			20,611			20,657			20,586			20,466
Merrill Lynch Global Wealth Management Metric
Financial advisor productivity (in thousands)	$	1,073		$	1,030		$	1,096		$	1,082		$	1,039		$	1,046		$	1,035
Bank of America Private Bank Metric, at period end
Primary sales professionals	1,811			1,711			1,811			1,808			1,795			1,748			1,711

⁽¹⁾  Assets under management include deposits that are managed within investment accounts.

⁽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.

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 Banking Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net interest income	$	8,116		$	8,144		$	2,617		$	2,709		$	2,790		$	2,849		$	2,726
Noninterest income:
Service charges	2,225			2,285			763			749			713			742			753
Investment banking fees	2,328			2,130			902			717			709			761			644
All other income	2,673			2,273			930			800			943			818			700
Total noninterest income	7,226			6,688			2,595			2,266			2,365			2,321			2,097
Total revenue, net of interest expense	15,342			14,832			5,212			4,975			5,155			5,170			4,823
Provision for credit losses	356			(77		)	120			125			111			85			(70		)
Noninterest expense	6,697			6,618			2,220			2,211			2,266			2,128			2,142
Income before income taxes	8,289			8,291			2,872			2,639			2,778			2,957			2,751
Income tax expense	2,238			2,154			775			713			750			769			714
Net income	$	6,051		$	6,137		$	2,097		$	1,926		$	2,028		$	2,188		$	2,037
Net interest yield	2.84		%	3.00		%	2.69		%	2.80		%	2.98		%	2.99		%	2.99		%
Return on average allocated capital (1)	20			20			20			19			20			21			20
Efficiency ratio	43.65			44.62			42.58			44.45			43.96			41.15			44.42
Balance Sheet
Average
Total loans and leases	$	373,275		$	353,167		$	377,109		$	372,531		$	370,108		$	357,410		$	352,712
Total earning assets (2)	382,711			362,910			385,999			387,819			380,308			378,163			362,316
Total assets (2)	437,570			423,355			441,186			442,591			434,920			440,522			423,643
Total deposits	357,413			328,484			360,457			362,619			349,037			359,642			337,685
Allocated capital (1)	41,000			41,000			41,000			41,000			41,000			41,000			41,000
Period end
Total loans and leases	$	377,658		$	352,332		$	377,658		$	376,948		$	373,017		$	365,717		$	352,332
Total earning assets (2)	397,589			368,095			397,589			384,884			381,490			377,812			368,095
Total assets (2)	452,642			430,846			452,642			440,352			436,066			442,330			430,846
Total deposits	371,887			350,748			371,887			358,902			343,897			360,248			350,748

⁽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 Banking Key Indicators
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Investment Banking fees (1)
Advisory (2)	$	984		$	782		$	427		$	254		$	303		$	371		$	237
Debt issuance	1,007			1,017			356			324			327			309			295
Equity issuance	337			331			119			139			79			81			112
Total Investment Banking fees (3)	$	2,328		$	2,130		$	902		$	717		$	709		$	761		$	644
Business Lending
Corporate	$	2,992		$	2,940		$	1,024		$	923		$	1,045		$	964		$	908
Commercial	3,100			3,188			1,020			1,046			1,034			1,142			1,095
Business Banking	275			324			91			90			94			107			108
Total Business Lending revenue	$	6,367		$	6,452		$	2,135		$	2,059		$	2,173		$	2,213		$	2,111
Global Transaction Services
Corporate	$	2,979		$	2,828		$	967		$	1,005		$	1,007		$	1,004		$	951
Commercial	2,642			2,474			862			889			891			872			832
Business Banking	800			721			267			267			266			266			248
Total Global Transaction Services revenue	$	6,421		$	6,023		$	2,096		$	2,161		$	2,164		$	2,142		$	2,031
Average deposit balances
Interest-bearing	$	189,517		$	124,720		$	197,801		$	195,575		$	174,924		$	163,465		$	140,126
Noninterest-bearing	167,896			203,764			162,656			167,044			174,113			196,177			197,559
Total average deposits	$	357,413		$	328,484		$	360,457		$	362,619		$	349,037		$	359,642		$	337,685
Loan spread	1.42		%	1.52		%	1.41		%	1.41		%	1.44		%	1.43		%	1.48		%
Provision for credit losses	$	356		$	(77	)	$	120		$	125		$	111		$	85		$	(70	)
Credit quality (4, 5)
Reservable criticized utilized exposure	$	10,346		$	10,065		$	10,346		$	10,260		$	10,308		$	9,488		$	10,065
	2.61		%	2.68		%	2.61		%	2.59		%	2.62		%	2.43		%	2.68		%
Nonperforming loans, leases and foreclosed properties	$	1,208		$	746		$	1,208		$	1,088		$	1,087		$	1,004		$	746
	0.32		%	0.21		%	0.32		%	0.29		%	0.29		%	0.28		%	0.21		%
Average loans and leases by product
U.S. commercial	$	216,653		$	201,661		$	219,324		$	215,941		$	214,642		$	206,350		$	201,372
Non-U.S. commercial	84,326			78,785			86,016			84,263			82,663			77,818			78,255
Commercial real estate	50,866			50,597			51,069			51,006			50,517			50,974			51,252
Commercial lease financing	21,429			22,121			20,700			21,320			22,286			22,266			21,831
Other	1			3			—			1			—			2			2
Total average loans and leases	$	373,275		$	353,167		$	377,109		$	372,531		$	370,108		$	357,410		$	352,712
Total Corporation Investment Banking fees
Advisory (2)	$	1,083		$	861		$	452		$	288		$	343		$	397		$	262
Debt issuance	2,310			2,385			816			746			748			699			684
Equity issuance	937			911			308			395			234			272			307
Total investment banking fees including self-led deals	4,330			4,157			1,576			1,429			1,325			1,368			1,253
Self-led deals	(162		)	(178		)	(43		)	(58		)	(61		)	(20		)	(49		)
Total Investment Banking fees	$	4,168		$	3,979		$	1,533		$	1,371		$	1,264		$	1,348		$	1,204

⁽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. 21

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net interest income	$	2,780		$	2,922		$	1,016		$	811		$	953		$	935		$	933
Noninterest income:
Investment and brokerage services	1,296			1,306			419			433			444			474			388
Investment banking fees	1,707			1,783			585			585			537			513			522
Trading account income	5,623			6,129			1,580			1,961			2,082			1,132			1,551
All other income	783			795			264			354			165			193			479
Total noninterest income	9,409			10,013			2,848			3,333			3,228			2,312			2,940
Total revenue, net of interest expense (1)	12,189			12,935			3,864			4,144			4,181			3,247			3,873
Provision for credit losses	(18		)	(6		)	—			5			(23		)	6			(2		)
Noninterest expense	8,109			8,283			2,679			2,675			2,755			2,552			2,633
Income before income taxes	4,098			4,658			1,185			1,464			1,449			689			1,242
Income tax expense	1,168			1,211			338			417			413			179			323
Net income	$	2,930		$	3,447		$	847		$	1,047		$	1,036		$	510		$	919
Return on average allocated capital (2)	11		%	13		%	10		%	12		%	12		%	6		%	10		%
Efficiency ratio	66.53			64.04			69.32			64.55			65.91			78.58			68.00
Balance Sheet
Average
Total trading-related assets	$	489,856		$	465,514		$	498,791		$	496,205		$	474,303		$	463,998		$	460,279
Total loans and leases	70,757			73,340			71,589			70,587			70,080			70,609			71,231
Total earning assets	474,481			478,455			476,919			474,061			472,414			458,331			459,073
Total assets	679,038			669,684			687,393			685,412			664,052			655,069			652,481
Total deposits	30,878			31,253			30,155			31,128			31,366			31,077			30,721
Allocated capital (2)	35,000			35,000			35,000			35,000			35,000			35,000			35,000
Period end
Total trading-related assets	$	497,206		$	456,643		$	497,206		$	487,094		$	485,637		$	447,998		$	456,643
Total loans and leases	74,979			73,023			74,979			74,136			70,052			73,928			73,023
Total earning assets	478,303			447,304			478,303			475,836			470,700			457,224			447,304
Total assets	689,023			646,359			689,023			674,985			671,123			641,923			646,359
Total deposits	30,885			41,102			30,885			29,961			31,073			37,841			41,102
Trading-related assets (average)
Trading account securities	$	246,077		$	211,668		$	261,182		$	251,401		$	225,254		$	225,335		$	215,397
Reverse repurchases	117,087			127,019			110,907			117,730			122,753			119,341			124,842
Securities borrowed	82,772			80,073			80,641			83,374			84,343			75,374			74,648
Derivative assets	43,920			46,754			46,061			43,700			41,953			43,948			45,392
Total trading-related assets	$	489,856		$	465,514		$	498,791		$	496,205		$	474,303		$	463,998		$	460,279

⁽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 23.

⁽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. 22

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Nine Months Ended September 30				Third Quarter 2019		Second Quarter 2019		First Quarter 2019		Fourth Quarter 2018		Third Quarter 2018
	2019		2018
Sales and trading revenue (1)
Fixed-income, currencies and commodities	$	6,433	$	6,754	$	2,056	$	2,098	$	2,279	$	1,517	$	1,989
Equities	3,473		3,829		1,148		1,144		1,181		1,071		998
Total sales and trading revenue	$	9,906	$	10,583	$	3,204	$	3,242	$	3,460	$	2,588	$	2,987
Sales and trading revenue, excluding net debit valuation adjustment (2)
Fixed-income, currencies and commodities	$	6,560	$	6,941	$	2,074	$	2,128	$	2,358	$	1,472	$	2,069
Equities	3,482		3,856		1,145		1,145		1,192		1,064		1,017
Total sales and trading revenue, excluding net debit valuation adjustment	$	10,042	$	10,797	$	3,219	$	3,273	$	3,550	$	2,536	$	3,086
Sales and trading revenue breakdown
Net interest income	$	2,301	$	2,550	$	886	$	665	$	750	$	806	$	813
Commissions	1,267		1,274		410		424		433		463		378
Trading	5,621		6,126		1,580		1,960		2,081		1,131		1,550
Other	717		633		328		193		196		188		246
Total sales and trading revenue	$	9,906	$	10,583	$	3,204	$	3,242	$	3,460	$	2,588	$	2,987

⁽¹⁾  Includes Global Banking sales and trading revenue of $390 million and $297 million for the nine months ended September 30, 2019 and 2018, and $147 million, $128 million and $115 million for the third, second and first quarters of 2019, and $126 million and $51 million for the fourth and third 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. 23

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Net interest income	$	135		$	480		$	62		$	78		$	(5	)	$	152		$	178
Noninterest income (loss)	(2,018		)	(1,519		)	(811		)	(581		)	(626		)	(738		)	(258		)
Total revenue, net of interest expense	(1,883		)	(1,039		)	(749		)	(503		)	(631		)	(586		)	(80		)
Provision for credit losses	(590		)	(352		)	(295		)	(241		)	(54		)	(124		)	(95		)
Noninterest expense	3,398			1,487			2,464			515			419			395			471
Loss before income taxes	(4,691		)	(2,174		)	(2,918		)	(777		)	(996		)	(857		)	(456		)
Income tax expense (benefit)	(3,055		)	(1,862		)	(1,320		)	(787		)	(948		)	(917		)	(488		)
Net income (loss)	$	(1,636	)	$	(312	)	$	(1,598	)	$	10		$	(48	)	$	60		$	32
Balance Sheet
Average
Total loans and leases	$	44,529		$	63,602		$	41,788		$	44,695		$	47,160		$	53,324		$	59,930
Total assets (2)	205,415			198,398			212,527			201,845			195,565			196,704			208,458
Total deposits	20,720			22,635			20,718			20,750			20,691			19,979			22,118
Period end
Total loans and leases	$	39,671		$	54,978		$	39,671		$	43,311		$	45,609		$	48,061		$	54,978
Total assets (3)	207,605			219,984			207,605			205,714			178,680			195,466			219,984
Total deposits	21,883			21,375			21,883			20,189			21,472			18,541			21,375

⁽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 $540.9 billion and $516.8 billion for the nine months ended September 30, 2019 and 2018, and $536.8 billion, $549.5 billion and $542.4 billion for the third, second and first quarters of 2019, and $525.6 billion and $516.3 billion for the fourth and third quarters of 2018, respectively.

⁽³⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders’ equity of $546.5 billion, $544.0 billion, $566.8 billion, $540.8 billion and $529.8 billion at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 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. 24

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	September 30 2019		June 30 2019		September 30 2018
Consumer
Residential mortgage	$	227,472	$	219,929	$	208,186
Home equity	41,574		44,134		51,235
U.S. credit card	94,946		93,989		94,829
Direct/Indirect consumer (1)	90,836		90,850		91,338
Other consumer (2)	208		174		203
Total consumer loans excluding loans accounted for under the fair value option	455,036		449,076		445,791
Consumer loans accounted for under the fair value option (3)	640		658		755
Total consumer	455,676		449,734		446,546
Commercial
U.S. commercial	310,982		305,695		285,662
Non-U.S. commercial	101,084		104,173		96,002
Commercial real estate (4)	62,798		61,659		60,835
Commercial lease financing	20,107		20,384		21,546
	494,971		491,911		464,045
U.S. small business commercial (5)	15,229		14,950		14,234
Total commercial loans excluding loans accounted for under the fair value option	510,200		506,861		478,279
Commercial loans accounted for under the fair value option (3)	7,034		7,205		4,976
Total commercial	517,234		514,066		483,255
Total loans and leases	$	972,910	$	963,800	$	929,801

⁽¹⁾  Includes auto and specialty lending loans and leases of $50.3 billion, $50.3 billion and $50.1 billion, unsecured consumer lending loans of $328 million, $344 million and $392 million, U.S. securities-based lending loans of $36.5 billion, $36.5 billion and $37.4 billion, non-U.S. consumer loans of $3.0 billion, $2.9 billion and $2.7 billion and other consumer loans of $694 million, $811 million and $756 million at September 30, 2019, June 30, 2019 and September 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 $275 million, $300 million and $407 million and home equity loans of $365 million, $358 million and $348 million at September 30, 2019, June 30, 2019 and September 30, 2018, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $4.7 billion, $3.9 billion and $3.6 billion and non-U.S. commercial loans of $2.4 billion, $3.3 billion and $1.4 billion at September 30, 2019, June 30, 2019 and September 30, 2018, respectively.

⁽⁴⁾  Includes U.S. commercial real estate loans of $58.1 billion, $57.0 billion and $56.9 billion and non-U.S. commercial real estate loans of $4.7 billion, $4.6 billion and $3.9 billion at September 30, 2019, June 30, 2019 and September 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. 25

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment and All Other
(Dollars in millions)
	Third Quarter 2019
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	224,084	$	107,527	$	80,959	$	—	$	—	$	35,598
Home equity	43,616		33,585		3,326		—		352		6,353
U.S. credit card	94,370		91,595		2,775		—		—		—
Direct/Indirect and other consumer	90,813		50,738		40,072		—		—		3
Total consumer	452,883		283,445		127,132		—		352		41,954
Commercial
U.S. commercial	324,436		20,372		39,289		219,324		45,083		368
Non-U.S. commercial	105,003		—		88		86,016		18,967		(68		)
Commercial real estate	62,185		16		3,902		51,069		7,187		11
Commercial lease financing	20,226		—		3		20,700		—		(477		)
Total commercial	511,850		20,388		43,282		377,109		71,237		(166		)
Total loans and leases	$	964,733	$	303,833	$	170,414	$	377,109	$	71,589	$	41,788
	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
	Third Quarter 2018
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		All  Other
Consumer
Residential mortgage	$	209,460	$	86,383	$	74,806	$	1	$	—	$	48,270
Home equity	53,050		37,289		3,701		—		353		11,707
U.S. credit card	94,710		91,646		3,064		—		—		—
Direct/Indirect and other consumer	91,828		50,528		41,296		1		—		3
Total consumer	449,048		265,846		122,867		2		353		59,980
Commercial
U.S. commercial	303,680		19,134		35,392		201,372		47,288		494
Non-U.S. commercial	96,019		—		24		78,255		17,696		44
Commercial real estate	60,754		14		3,583		51,252		5,894		11
Commercial lease financing	21,235		—		3		21,831		—		(599		)
Total commercial	481,688		19,148		39,002		352,710		70,878		(50		)
Total loans and leases	$	930,736	$	284,994	$	161,869	$	352,712	$	71,231	$	59,930

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
Commercial Credit Exposure by Industry (1, 2, 3, 4)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	September 30 2019		June 30 2019		September 30 2018		September 30 2019		June 30 2019		September 30 2018
Asset managers and funds	$	73,822	$	70,196	$	68,733	$	109,841	$	108,005	$	103,066
Real estate (5)	70,643		66,907		64,460		93,625		89,729		90,664
Capital goods	41,651		39,594		40,327		79,308		75,129		74,720
Finance companies	37,502		39,106		33,549		59,923		62,904		53,375
Healthcare equipment and services	34,563		35,420		34,943		56,649		57,097		54,889
Government and public education	42,802		42,813		44,436		54,177		54,774		55,296
Materials	27,647		27,850		25,727		52,293		52,257		49,461
Retailing	27,354		26,496		25,714		48,874		47,936		47,823
Consumer services	25,959		25,754		24,975		46,335		47,216		42,276
Food, beverage and tobacco	23,587		25,379		23,199		44,609		45,580		45,166
Commercial services and supplies	22,328		22,179		21,861		37,855		37,784		37,644
Energy	15,660		14,953		16,319		35,750		37,377		34,462
Transportation	25,440		24,867		21,887		34,638		34,581		30,694
Utilities	11,938		12,141		11,496		28,899		31,254		27,495
Pharmaceuticals and biotechnology	6,261		6,135		7,430		27,051		16,521		19,396
Individuals and trusts	18,887		18,880		18,706		26,303		25,752		25,332
Global commercial banks	23,602		25,932		27,600		25,687		28,886		29,874
Technology hardware and equipment	11,287		9,405		10,054		25,379		21,707		21,759
Media	13,285		12,066		10,581		23,645		24,826		28,523
Consumer durables and apparel	10,174		10,311		9,432		21,459		19,993		18,129
Vehicle dealers	17,332		17,674		15,930		20,580		20,848		19,128
Software and services	10,257		10,403		7,489		20,098		19,660		16,558
Telecommunication services	8,580		8,913		6,837		15,980		15,318		12,786
Automobiles and components	8,033		7,795		6,990		15,176		15,065		14,271
Financial markets infrastructure (clearinghouses)	11,864		11,626		6,867		14,316		13,345		8,662
Insurance	6,966		6,148		5,818		13,804		13,231		13,785
Food and staples retailing	5,642		5,850		4,840		9,871		9,768		10,100
Religious and social organizations	4,104		3,976		3,705		5,950		5,914		5,586
Total commercial credit exposure by industry	$	637,170	$	628,769	$	599,905	$	1,048,075	$	1,032,457	$	990,920

⁽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 $40.7 billion, $33.9 billion and $32.0 billion at September 30, 2019, June 30, 2019 and September 30, 2018, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $33.6 billion, $33.1 billion and $35.7 billion, which consists primarily of other marketable securities, at September 30, 2019, June 30, 2019 and September 30, 2018, respectively.

⁽²⁾  Total utilized and total committed exposure includes loans of $7.0 billion, $7.2 billion and $5.0 billion and issued letters of credit with a notional amount of $115 million, $107 million and $55 million accounted for under the fair value option at September 30, 2019, June 30, 2019 and September 30, 2018, respectively. In addition, total committed exposure includes unfunded loan commitments accounted for under the fair value option with a notional amount of $4.7 billion, $4.5 billion and $3.1 billion at September 30, 2019, June 30, 2019 and September 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. 27

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 September 30 2019		Hedges and Credit Default Protection (3)			Net Country Exposure at September 30 2019 (4)		Increase (Decrease) from June 30 2019
United Kingdom	$	32,387	$	16,610	$	7,154	$	2,506	$	58,657	$	(3,107	)	$	55,550	$	390
Germany	21,600		7,190		1,992		1,133		31,915		(5,826		)	26,089		(19,738		)
Japan	18,774		879		1,591		1,441		22,685		(1,403		)	21,282		(1,420		)
Canada	7,774		7,829		1,298		3,336		20,237		(680		)	19,557		524
France	7,631		7,386		1,255		2,802		19,074		(2,650		)	16,424		2,644
China	12,167		495		1,304		919		14,885		(357		)	14,528		1,284
India	7,786		538		467		4,058		12,849		(224		)	12,625		(1,560		)
Brazil	7,610		663		201		3,689		12,163		(420		)	11,743		(520		)
Australia	6,031		3,024		603		1,735		11,393		(377		)	11,016		511
Netherlands	6,510		3,435		498		1,193		11,636		(992		)	10,644		550
Switzerland	5,627		3,051		331		237		9,246		(644		)	8,602		(196		)
South Korea	6,018		604		389		1,762		8,773		(196		)	8,577		(1,183		)
Hong Kong	5,645		257		327		1,218		7,447		(32		)	7,415		(322		)
Singapore	4,031		223		456		2,591		7,301		(53		)	7,248		950
Mexico	3,939		1,496		260		1,041		6,736		(185		)	6,551		342
Belgium	4,556		1,093		216		215		6,080		(214		)	5,866		(420		)
Spain	4,076		1,314		155		796		6,341		(950		)	5,391		(583		)
United Arab Emirates	3,082		226		130		102		3,540		(33		)	3,507		(40		)
Italy	2,310		1,486		589		542		4,927		(1,450		)	3,477		(50		)
Sweden	1,572		705		268		245		2,790		(274		)	2,516		116
Total top 20 non-U.S. countries exposure	$	169,126	$	58,504	$	19,484	$	31,561	$	278,675	$	(20,067	)	$	258,608	$	(18,721	)

⁽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. 28

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	September 30 2019			June 30 2019			March 31 2019			December 31 2018			September 30 2018
Residential mortgage	$	1,551		$	1,744		$	1,773		$	1,893		$	2,034
Home equity	585			1,203			1,751			1,893			2,226
Direct/Indirect consumer	53			80			54			56			46
Total consumer	2,189			3,027			3,578			3,842			4,306
U.S. commercial	966			820			870			794			699
Non-U.S. commercial	51			122			80			80			31
Commercial real estate	185			112			213			156			46
Commercial lease financing	35			55			52			18			14
	1,237			1,109			1,215			1,048			790
U.S. small business commercial	50			51			57			54			58
Total commercial	1,287			1,160			1,272			1,102			848
Total nonperforming loans and leases	3,476			4,187			4,850			4,944			5,154
Foreclosed properties (1)	247			265			295			300			295
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	3,723		$	4,452		$	5,145		$	5,244		$	5,449
Fully-insured home loans past due 30 days or more and still accruing	$	1,919		$	2,155		$	2,390		$	2,790		$	3,183
Consumer credit card past due 30 days or more and still accruing	1,937			1,838			1,932			1,989			1,805
Other loans past due 30 days or more and still accruing	3,286			2,864			2,905			3,539			3,255
Total loans past due 30 days or more and still accruing (3, 5, 6)	$	7,142		$	6,857		$	7,227		$	8,318		$	8,243
Fully-insured home loans past due 90 days or more and still accruing	$	1,203		$	1,364		$	1,593		$	1,884		$	2,161
Consumer credit card past due 90 days or more and still accruing	960			941			1,005			994			872
Other loans past due 90 days or more and still accruing	496			268			181			352			256
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	2,659		$	2,573		$	2,779		$	3,230		$	3,289
Nonperforming loans, leases and foreclosed properties/Total assets (7)	0.15		%	0.19		%	0.22		%	0.22		%	0.23		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)	0.39			0.47			0.55			0.56			0.59
Nonperforming loans and leases/Total loans and leases (7)	0.36			0.44			0.52			0.52			0.56
Commercial reservable criticized utilized exposure (8)	$	11,835		$	11,834		$	11,821		$	11,061		$	11,597
Commercial reservable criticized utilized exposure/Commercial reservable utilized exposure (8)	2.17		%	2.19		%	2.22		%	2.08		%	2.26		%
Total commercial criticized utilized exposure/Commercial utilized exposure (8)	2.02			2.04			2.07			1.93			2.16

⁽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 $275 million, $294 million, $400 million, $488 million and $500 million at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 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:

	September 30 2019		June 30 2019		March 31 2019		December 31 2018		September 30 2018
Nonperforming loans held-for-sale	$	237	$	278	$	457	$	291	$	177
Nonperforming loans accounted for under the fair value option	7		10		67		12		16

⁽⁵⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $44 million, $3 million, $4 million, $53 million and $30 million at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 30, 2018, respectively, and loans held-for-sale past due 90 days or more and still accruing of $3 million, $0, $1 million, $2 million and $8 million at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 30, 2018, respectively. At September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 30, 2018, there were $9 million, $9 million, $6 million, $10 million and $21 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 $7.7 billion, $7.9 billion, $6.2 billion, $4.3 billion and $5.7 billion at September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 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. 29

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	3,027		$	3,578		$	3,842		$	4,306		$	4,639
Additions	335			390			391			545			484
Reductions:
Paydowns and payoffs	(197		)	(195		)	(188		)	(214		)	(238		)
Sales	(748		)	(502		)	(164		)	(438		)	(145		)
Returns to performing status (2)	(185		)	(189		)	(249		)	(274		)	(309		)
Charge-offs (3)	(23		)	(29		)	(28		)	(51		)	(89		)
Transfers to foreclosed properties	(20		)	(26		)	(26		)	(32		)	(36		)
Total net reductions to nonperforming loans and leases	(838		)	(551		)	(264		)	(464		)	(333		)
Total nonperforming consumer loans and leases, end of period	2,189			3,027			3,578			3,842			4,306
Foreclosed properties	188			205			236			244			265
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	2,377		$	3,232		$	3,814		$	4,086		$	4,571
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,160		$	1,272		$	1,102		$	848		$	1,258
Additions	492			389			640			500			235
Reductions:
Paydowns	(161		)	(210		)	(108		)	(122		)	(287		)
Sales	(33		)	(117		)	(43		)	(6		)	(130		)
Return to performing status (5)	(48		)	(23		)	(34		)	(33		)	(95		)
Charge-offs	(123		)	(151		)	(97		)	(85		)	(116		)
Transfers to foreclosed properties	—			—			(7		)	—			(12		)
Transfers to loans held-for-sale	—			—			(181		)	—			(5		)
Total net additions (reductions) to nonperforming loans and leases	127			(112		)	170			254			(410		)
Total nonperforming commercial loans and leases, end of period	1,287			1,160			1,272			1,102			848
Foreclosed properties	59			60			59			56			30
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,346		$	1,220		$	1,331		$	1,158		$	878

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 29.

⁽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. 30

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Third Quarter 2019					Second Quarter 2019					First Quarter 2019					Fourth Quarter 2018					Third Quarter 2018
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage (2)	$	(38	)	(0.07	)%	$	3		0.01	%	$	(16	)	(0.03	)%	$	15		0.03	%	$	12		0.02	%
Home equity (3)	(202		)	(1.85	)	(155		)	(1.36	)	11			0.10		(15		)	(0.12	)	(20		)	(0.15	)
U.S. credit card	717			3.01		762			3.26		745			3.18		699			2.90		698			2.92
Direct/Indirect consumer	76			0.33		40			0.18		54			0.24		53			0.23		42			0.18
Other consumer	69			n/m		41			n/m		41			n/m		52			n/m		44			n/m
Total consumer	622			0.55		691			0.62		835			0.77		804			0.71		776			0.69
U.S. commercial	53			0.07		66			0.09		83			0.11		43			0.06		70			0.10
Non-U.S. commercial	67			0.26		48			0.19		—			—		20			0.09		25			0.10
Total commercial and industrial	120			0.12		114			0.11		83			0.08		63			0.07		95			0.10
Commercial real estate	(1		)	—		4			0.02		5			0.03		(2		)	(0.02	)	2			0.02
Commercial lease financing	1			0.02		13			0.26		—			—		(1		)	(0.01	)	—			—
	120			0.10		131			0.11		88			0.07		60			0.05		97			0.08
U.S. small business commercial	69			1.83		65			1.76		68			1.90		60			1.65		59			1.67
Total commercial	189			0.15		196			0.16		156			0.13		120			0.10		156			0.13
Total net charge-offs	$	811		0.34		$	887		0.38		$	991		0.43		$	924		0.39		$	932		0.40
By Business Segment and All Other
Consumer Banking	$	905		1.18	%	$	915		1.24	%	$	925		1.28	%	$	889		1.22	%	$	853		1.19	%
Global Wealth & Investment Management	39			0.09		12			0.03		12			0.03		8			0.02		13			0.03
Global Banking	116			0.12		129			0.14		82			0.09		56			0.06		85			0.10
Global Markets	—			—		—			—		—			—		—			—		3			0.02
All Other	(249		)	(2.43	)	(169		)	(1.54	)	(28		)	(0.24	)	(29		)	(0.22	)	(22		)	(0.15	)
Total net charge-offs	$	811		0.34		$	887		0.38		$	991		0.43		$	924		0.39		$	932		0.40

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

⁽³⁾  Includes loan sale net charge-offs (recoveries) of $(173) million, $(118) million and $24 million for the third, second and first quarters of 2019, and $0 and $(8) million for the fourth and third 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. 31

Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Nine Months Ended September 30
	2019					2018
	Amount			Percent		Amount			Percent
Net Charge-offs
Residential mortgage (2)	$	(51	)	(0.03	)%	$	13		0.01	%
Home equity (3)	(346		)	(1.02	)	13			0.03
U.S. credit card	2,224			3.15		2,138			3.03
Direct/Indirect consumer	170			0.25		142			0.20
Other consumer	151			n/m		130			n/m
Total consumer	2,148			0.64		2,436			0.73
U.S. commercial	202			0.09		172			0.08
Non-U.S. commercial	115			0.15		48			0.07
Total commercial and industrial	317			0.11		220			0.08
Commercial real estate	8			0.02		3			0.01
Commercial lease financing	14			0.09		—			—
	339			0.09		223			0.06
U.S. small business commercial	202			1.83		180			1.72
Total commercial	541			0.15		403			0.11
Total net charge-offs	$	2,689		0.38		$	2,839		0.41
By Business Segment and All Other
Consumer Banking	$	2,745		1.23	%	$	2,626		1.25	%
Global Wealth & Investment Management	63			0.05		53			0.04
Global Banking	327			0.12		190			0.07
Global Markets	—			—		23			0.04
All Other	(446		)	(1.36	)	(53		)	(0.11	)
Total net charge-offs	$	2,689		0.38		$	2,839		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 $35 million and $17 million for the nine months ended September 30, 2019 and 2018.

⁽³⁾  Includes loan sale net recoveries of $267 million and $12 million for the nine months ended September 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. 32

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	September 30, 2019						June 30, 2019						September 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	$	341	3.61	%	0.15	%	$	358	3.76	%	0.16	%	$	500	5.14	%	0.24	%
Home equity	250		2.65		0.60		361		3.79		0.82		658		6.76		1.28
U.S. credit card	3,709		39.32		3.91		3,706		38.90		3.94		3,530		36.26		3.72
Direct/Indirect consumer	234		2.48		0.26		233		2.45		0.26		262		2.69		0.29
Other consumer	42		0.45		n/m		31		0.33		n/m		30		0.31		n/m
Total consumer	4,576		48.51		1.01		4,689		49.23		1.04		4,980		51.16		1.12
U.S. commercial (3)	3,038		32.21		0.93		2,989		31.37		0.93		2,974		30.55		0.99
Non-U.S.commercial	669		7.09		0.66		708		7.43		0.68		687		7.06		0.72
Commercial real estate	992		10.52		1.58		972		10.20		1.58		946		9.72		1.56
Commercial lease financing	158		1.67		0.79		169		1.77		0.83		147		1.51		0.68
Total commercial	4,857		51.49		0.95		4,838		50.77		0.95		4,754		48.84		0.99
Allowance for loan and lease losses	9,433		100.00	%	0.98		9,527		100.00	%	1.00		9,734		100.00	%	1.05
Reserve for unfunded lending commitments	809						806						792
Allowance for credit losses	$	10,242					$	10,333					$	10,526
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (2)			0.98	%					1.00	%					1.05	%
Allowance for loan and lease losses/Total nonperforming loans and leases (4)			271						228						189
Ratio of the allowance for loan and lease losses/Annualized net charge-offs			2.93						2.68						2.63

⁽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 $275 million, $300 million and $407 million and home equity loans of $365 million, $358 million and $348 million at September 30, 2019, June 30, 2019 and September 30, 2018, respectively. Commercial loans accounted for under the fair value option include U.S. commercial loans of $4.7 billion, $3.9 billion and $3.6 billion and non-U.S. commercial loans of $2.4 billion, $3.3 billion and $1.4 billion at September 30, 2019, June 30, 2019 and September 30, 2018, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $7.7 billion, $7.9 billion and $5.7 billion at September 30, 2019, June 30, 2019 and September 30, 2018, respectively.

⁽³⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $518 million, $498 million and $472 million at September 30, 2019, June 30, 2019 and September 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 September 30, 2019, June 30, 2019 and September 30, 2018, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 152 percent, 129 percent and 111 percent at September 30, 2019, June 30, 2019 and September 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. 33

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 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 nine months ended September 30, 2019 and 2018 and the three months ended September 30, 2019, June 30, 2019, March 31, 2019, December 31, 2018 and September 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.

	Nine Months Ended September 30						Third Quarter 2019			Second Quarter 2019			First Quarter 2019			Fourth Quarter 2018			Third Quarter 2018
	2019			2018
Reconciliation of average shareholders’ equity to average tangible common shareholders’ equity and average tangible shareholders’ equity
Shareholders’ equity	$	268,223		$	265,102		$	270,430		$	267,975		$	266,217		$	263,698		$	264,653
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,735		)	(2,125		)	(1,707		)	(1,736		)	(1,763		)	(1,857		)	(1,992		)
Related deferred tax liabilities	787			917			752			770			841			874			896
Tangible shareholders’ equity	$	198,324		$	194,943		$	200,524		$	198,058		$	196,344		$	193,764		$	194,606
Preferred stock	(22,894		)	(23,159		)	(23,800		)	(22,537		)	(22,326		)	(22,326		)	(22,841		)
Tangible common shareholders’ equity	$	175,430		$	171,784		$	176,724		$	175,521		$	174,018		$	171,438		$	171,765
Reconciliation of period-end shareholders’ equity to period-end tangible common shareholders’ equity and period-end tangible shareholders’ equity
Shareholders’ equity	$	268,387		$	262,158		$	268,387		$	271,408		$	267,010		$	265,325		$	262,158
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,690		)	(1,908		)	(1,690		)	(1,718		)	(1,747		)	(1,774		)	(1,908		)
Related deferred tax liabilities	734			878			734			756			773			858			878
Tangible shareholders’ equity	$	198,480		$	192,177		$	198,480		$	201,495		$	197,085		$	195,458		$	192,177
Preferred stock	(23,606		)	(22,326		)	(23,606		)	(24,689		)	(22,326		)	(22,326		)	(22,326		)
Tangible common shareholders’ equity	$	174,874		$	169,851		$	174,874		$	176,806		$	174,759		$	173,132		$	169,851
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,426,330		$	2,338,833		$	2,426,330		$	2,395,892		$	2,377,164		$	2,354,507		$	2,338,833
Goodwill	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)	(68,951		)
Intangible assets (excluding mortgage servicing rights)	(1,690		)	(1,908		)	(1,690		)	(1,718		)	(1,747		)	(1,774		)	(1,908		)
Related deferred tax liabilities	734			878			734			756			773			858			878
Tangible assets	$	2,356,423		$	2,268,852		$	2,356,423		$	2,325,979		$	2,307,239		$	2,284,640		$	2,268,852
Book value per share of common stock
Common shareholders’ equity	$	244,781		$	239,832		$	244,781		$	246,719		$	244,684		$	242,999		$	239,832
Ending common shares issued and outstanding	9,079.3			9,858.3			9,079.3			9,342.6			9,568.4			9,669.3			9,858.3
Book value per share of common stock	$	26.96		$	24.33		$	26.96		$	26.41		$	25.57		$	25.13		$	24.33
Tangible book value per share of common stock
Tangible common shareholders’ equity	$	174,874		$	169,851		$	174,874		$	176,806		$	174,759		$	173,132		$	169,851
Ending common shares issued and outstanding	9,079.3			9,858.3			9,079.3			9,342.6			9,568.4			9,669.3			9,858.3
Tangible book value per share of common stock	$	19.26		$	17.23		$	19.26		$	18.92		$	18.26		$	17.91		$	17.23

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