BANK OF AMERICA CORP /DE/

Consumer Banking offers a diversified range of lending, deposit and investment products and services to consumers and small businesses. For more information about Consumer Banking, see Business Segment Operations in the MD&A of the Corporation’s 2025 Annual Report on Form 10-K.

Net income for Consumer Banking increased $84 million to $3.5 billion primarily due to higher revenue, largely offset by higher noninterest expense. Net interest income increased $443

million to $9.4 billion primarily driven by higher deposit spreads, as well as loan and deposit balances. Noninterest income was $2.1 billion, relatively unchanged from the same period a year ago.

The provision for credit losses was $1.0 billion, relatively unchanged from the same period a year ago. Noninterest expense increased $258 million to $5.8 billion primarily driven by continued investments in the business, including technology and marketing.

Average loans and leases increased $656 million to $321.0 billion primarily due to growth in credit card balances, partially offset by lower vehicle lending balances.

Average deposits increased $1.2 billion to $948.6 billion primarily due to net inflows of $7.7 billion in checking and $2.2 billion in time deposits, partially offset by net outflows of $8.5 billion in money market and other savings.

Net income for Consumer Banking increased $921 million to $9.9 billion due to higher revenue and lower provision for credit losses, partially offset by higher noninterest expense. Net interest income increased $1.4 billion to $27.6 billion due to the same factors as described in the three-month discussion. Noninterest income increased $74 million to $6.3 billion, primarily due to higher income from risk management activities and investment and brokerage services revenue, partially offset by lower card income.

The provision for credit losses decreased $246 million to $3.3 billion driven by improved asset quality in credit card. Noninterest expense increased $503 million to$17.5 billion primarily due to the same factors as described in the three-month discussion.

Average loans and leases increased $3.2 billion to $321.4 billion primarily driven by growth in credit card balances.

Average deposits increased $3.1 billion to$952.1 billion primarily due to net inflows of $9.4 billion in checking and $4.6 billion in time deposits, partially offset by net outflows of $10.9 billion in money market and other savings.

Consumer investment assets increased $84.0 billion to $664.4 billion driven by higher market valuations and positive net client flows.

Key Statistics

The table below provides key performance indicators for deposit spreads, other period-end information, credit and debit card and loan production activities.

(1)Includes client brokerage assets, deposit sweep balances, brokered CDs and AUM in Consumer Banking.

(2)Represents mobile and/or online active users over the past 90 days.

(3)Represents mobile active users over the past 90 days.

(4)Includes consumer credit card portfolios in Consumer Banking and GWIM.

(5)Calculated as the effective annual percentage rate divided by average loans.

(6)Calculated as the difference between total revenue, net of interest expense, and net charge-offs divided by average loans.

(7)The 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.

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

11 Bank of America

Since September 30, 2025, active mobile banking users increased by more than one million, reflecting client growth and continuing changes in our clients’ banking preferences. We had a net decrease of 118 financial centers and an increase of 45 ATMs as we continued to optimize ourconsumer banking network.

During the three months ended September 30, 2026, the total risk-adjusted margin decreased 74 bps primarily driven by lower card-related fee income and lower net interest margin due to loan balance mix, partially offset by lower net charge-offs. During the nine months ended September 30, 2026, the total risk-adjusted margin decreased 45 bps due to the same factors as described in the three-month discussion. During the three and nine months ended September 30, 2026, total credit card purchase volumes increased $5.8 billion and $17.6 billion, and

debit card purchase volumes increased $14.7 billion and $41.4 billion, reflecting higher levels of consumer spending.

During the three and nine months ended September 30, 2026, first mortgage loan originations for Consumer Banking decreased $325 million and increased $1.3 billion. The three-month period decreased driven by lower demand due to higher interest rates, and the nine-month period increased driven by higher demand. First mortgage loan originations for the total Corporation increased $102 million and $3.7 billion for the same periods, primarily driven by higher demand in GWIM.

During the three and nine months ended September 30, 2026, home equity production in Consumer Banking increased $127 million and $456 million, and home equity production for the total Corporation increased $174 million and $555 million for the same periods, primarily driven by higher demand.