BACRP · Bank of America Corporation

Bank of America delivered strong first quarter 2026 results, with net income rising 17% year-over-year to $8.6 billion, or $1.11 per diluted share. The performance was driven by diversified revenue growth across all business segments, with total revenue increasing 7% to $30.3 billion. Net interest income (NII) grew 9% to $15.7 billion, fueled by higher deposit and loan balances, fixed-rate asset repricing, and increased Global Markets activity, partially offset by the impact of lower interest rates. Noninterest income also contributed, rising 5% to $14.5 billion, supported by double-digit growth in sales and trading revenue, investment banking fees, and asset management fees. The bank demonstrated positive operating leverage of 2.9%, as revenue growth outpaced a 4% increase in noninterest expenses, leading to an improved efficiency ratio of 61%. Credit quality remained stable, with provision for credit losses decreasing to $1.3 billion from $1.5 billion in the prior year quarter, and net charge-offs of $1.4 billion reflecting typical credit card seasonality. The balance sheet remained robust, with average deposits growing 3% to $2.02 trillion and average loans increasing 9% to $1.19 trillion. Capital strength was evident with a CET1 ratio of 11.2%, well above regulatory minimums, enabling the return of $9.3 billion to shareholders through dividends and share repurchases. Management highlighted disciplined execution and a resilient economic outlook, noting healthy client activity and solid consumer spending.