BANK OF AMERICA CORP DE
For the period ended Jun 30, 2024. Filed Jul 30, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Jul 30, 2024
BAC$50.68+0.3%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statement of Income Consolidated Statement of Comprehensive Income
| Consolidated Statement of Income | ||||
|---|---|---|---|---|
| Three Months Ended June 30 | Six Months Ended June 30 | |||
| (In millions, except per share information) | 2024 | 2023 | 2024 | 2023 |
| Net interest income | ||||
| Interest income | $36,854 | $32,354 | $73,139 | $61,009 |
| Interest expense | 23,152 | 18,196 | 45,405 | 32,403 |
| Net interest income | 13,702 | 14,158 | 27,734 | 28,606 |
| Noninterest income | ||||
| Fees and commissions | 8,969 | 7,961 | 17,629 | 15,855 |
| Market making and similar activities | 3,298 | 3,697 | 7,186 | 8,409 |
| Other income (loss) | (592) | (619) | (1,354) | (1,415) |
| Total noninterest income | 11,675 | 11,039 | 23,461 | 22,849 |
| Total revenue, net of interest expense | 25,377 | 25,197 | 51,195 | 51,455 |
| Provision for credit losses | 1,508 | 1,125 | 2,827 | 2,056 |
| Noninterest expense | ||||
| Compensation and benefits | 9,826 | 9,401 | 20,021 | 19,319 |
| Occupancy and equipment | 1,818 | 1,776 | 3,629 | 3,575 |
| Information processing and communications | 1,763 | 1,644 | 3,563 | 3,341 |
| Product delivery and transaction related | 891 | 956 | 1,742 | 1,846 |
| Professional fees | 654 | 527 | 1,202 | 1,064 |
| Marketing | 487 | 513 | 942 | 971 |
| Other general operating | 870 | 1,221 | 2,447 | 2,160 |
| Total noninterest expense | 16,309 | 16,038 | 33,546 | 32,276 |
| Income before income taxes | 7,560 | 8,034 | 14,822 | 17,123 |
| Income tax expense | 663 | 626 | 1,251 | 1,554 |
| Net income | $6,897 | $7,408 | $13,571 | $15,569 |
| Preferred stock dividends | 315 | 306 | 847 | 811 |
| Net income applicable to common shareholders | $6,582 | $7,102 | $12,724 | $14,758 |
| Per common share information | ||||
| Earnings | $0.83 | $0.88 | $1.60 | $1.83 |
| Diluted earnings | 0.83 | 0.88 | 1.59 | 1.82 |
| Average common shares issued and outstanding | 7,897.9 | 8,040.9 | 7,933.3 | 8,053.5 |
| Average diluted common shares issued and outstanding | 7,960.9 | 8,080.7 | 7,996.2 | 8,162.6 |
| Consolidated Statement of Comprehensive Income | ||||
|---|---|---|---|---|
| Three Months Ended June 30 | Six Months Ended June 30 | |||
| (Dollars in millions) | 2024 | 2023 | 2024 | 2023 |
| Net income | $6,897 | $7,408 | $13,571 | $15,569 |
| Other comprehensive income (loss), net-of-tax: | ||||
| Net change in debt securities | (305) | 168 | 27 | 723 |
| Net change in debit valuation adjustments | 53 | (404) | (135) | (394) |
| Net change in derivatives | 686 | (1,993) | 270 | 49 |
| Employee benefit plan adjustments | 25 | 9 | 48 | 19 |
| Net change in foreign currency translation adjustments | (31) | 5 | (51) | 17 |
| Other comprehensive income (loss) | 428 | (2,215) | 159 | 414 |
| Comprehensive income (loss) | $7,325 | $5,193 | $13,730 | $15,983 |
49 Bank of America
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