Bank of America Corporation reported financial results for the third quarter ended September 30, 2026, filing an 8-K on October 14, 2026. The company reported net income of $6.9 billion, or $0.91 per diluted share, compared to $8.3 billion or $1.04 per share in the prior year.
The results included a regulatory settlement charge of $1.2 billion, or $0.17 per share. Excluding this charge, adjusted net income was $8.1 billion, with adjusted earnings per share of $1.08.
Total revenue, net of interest expense, was $30.0 billion, up 3% year-over-year. Net interest income (NII) grew 8% to $16.4 billion, while net interest yield (FTE) increased by 15 basis points to 2.16%. Asset management fees rose 16% to $4.5 billion.
Provision for credit losses was $1.3 billion, relatively flat compared to the prior year and down from $1.4 billion in the second quarter. Net charge-offs decreased to $1.3 billion.
Noninterest expense increased to $19.7 billion, resulting in an efficiency ratio of 66%. The company returned $8.3 billion to shareholders during the quarter, consisting of $2.2 billion in common stock dividends and $6.0 billion in common stock repurchases.
On the balance sheet, average deposit balances increased 2% to $2.02 trillion. Average loans and leases grew 6% to $1.23 trillion, marking the 10th consecutive quarter of sequential average growth. The company reported a Common Equity Tier 1 (CET1) ratio of 10.9%, well above regulatory minimums.
Business segment highlights include:
- Consumer Banking: Net income of $3.5 billion, revenue of $11.6 billion, and average deposits of $949 billion. The segment added 200,000 net new consumer checking accounts.
- Global Wealth and Investment Management: Net income of $1.5 billion, revenue of $7.1 billion, and client balances of $5.1 trillion. Asset under management (AUM) balances increased 12% to $2.4 trillion.
- Global Banking: Net income of $2.0 billion, with average deposits of $669 billion and average loans and leases increasing 8%.
- Global Markets: Net income of $1.2 billion, with sales and trading revenue of $5.1 billion.
