BANK OF AMERICA CORP DE
For the period ended Mar 31, 2025. Filed Apr 30, 2025.
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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.
Mar 31, 2025 · Filed Apr 30, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
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All Other
| (Dollars in millions) · 2025 · 2024 · % Change | |||||||
|---|---|---|---|---|---|---|---|
| Net interest income | $(22) | $38 | n/m | ||||
| Noninterest income (loss) | (1,537) | (1,682) | (9)% | ||||
| Total revenue, net of interest expense | (1,559) | (1,644) | (5) | ||||
| Provision for credit losses | (8) | (11) | (27) | ||||
| Noninterest expense | 290 | 994 | (71) | ||||
| Loss before income taxes | (1,841) | (2,627) | (30) | ||||
| Income tax benefit | (1,837) | (1,931) | (5) | ||||
| Net loss | $(4) | $(696) | (99) | ||||
| Balance Sheet | |||||||
| Average | 2025 | 2024 | % Change | ||||
| Total loans and leases | $8,016 | $8,872 | (10)% | ||||
| Total assets (1) | 347,834 | 354,484 | (2) | ||||
| Total deposits | 110,389 | 99,339 | 11 | ||||
| Period end | March 312025 | December 312024 | % Change | ||||
| Total loans and leases | $7,428 | $8,177 | (9)% | ||||
| Total assets (1) | 317,736 | 341,272 | (7) | ||||
| Total deposits | 102,550 | 103,871 | (1) | ||||
(1)In segments where the total of liabilities and equity exceeds assets, which are generally deposit-taking segments, we allocate assets from All Other to those segments to match liabilities (i.e., deposits) and allocated shareholders’ equity. Average allocated assets were $974.7 billion and $958.0 billion for the three months ended March 31, 2025 and 2024, and period-end allocated assets were $1.0 trillion and $978.4 billion at March 31, 2025 and December 31, 2024.
All Other primarily consists of asset and liability management (ALM) activities, liquidating businesses and certain expenses not otherwise allocated to a business segment. ALM activities encompass interest rate and foreign currency risk management activities for which substantially all of the results are allocated to our business segments. For more information on our ALM activities, see Note 17 – Business Segment Information to the Consolidated Financial Statements.
The net loss in All Other decreased $692 million to $4 million primarily due to lower noninterest expense.
Noninterest expense decreased $704 million to $290 million primarily due to the $700 million accrual recorded in the prior year for the increase in the Corporation’s estimated share of the FDIC special assessment.
The income tax benefit decreased $94 million to $1.8 billion due to lower tax preference benefits primarily related to tax credit investment activity.
15 Bank of America
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