Bank of America reports Q3 2026 results

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For the Quarterly Period Ended June September 30, 2026

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Attention: Office of the Corporate Secretary

100 N. Tryon Street ; NC1-007-56-06

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On July 30, October 29, 2026, there were 6,992,748,365 6,900,209,006 shares of Bank of America Corporation Common Stock outstanding.

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Bank of America Corporation (the Corporation) and its management may make certain statements that constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as "anticipates," "targets," "expects," "hopes," "estimates," "intends," "plans," "goals," "outlook," "believes," "continue" and other similar expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could." Forward-looking statements represent the Corporation's current expectations, plans or forecasts of its or its business segments' future results, which may include, among other measures, revenue, liquidity, net interest income, net interest yield, other income, provision for credit losses, expenses, operating leverage, effective tax rate, efficiency ratio, capital measures (including capital measures which utilize tangible common equity), deposits and assets, as well as strategy, future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown risks, uncertainties and assumptions that are difficult to predict and are often beyond the Corporation's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

You should not place undue reliance on any forward-looking statement and should consider the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of the Corporation's 2025 Annual Report on Form 10-K and in any of the Corporation's subsequent U.S. Securities and Exchange Commission (SEC) filings: the Corporation's potential judgments, orders, settlements, penalties, fines and reputational damage, which are inherently difficult to predict, resulting from including related to the adequacy of the Corporation's anti-money laundering and economic sanctions compliance programs (including the October 2026 consent orders associated therewith) and pending, threatened or future litigation and regulatory inquiries, demands, requests, investigations, proceedings and enforcement actions, which the Corporation is subject to in the ordinary course of business, including matters related to our processing of unemployment benefits for California and certain other states, the features of our automatic credit card payment service the adequacy of the Corporation's anti-money laundering and economic sanctions programs and the processing of electronic payments, including through the Zelle network, and related fraud, which are in various stages; in connection with ongoing litigation, the impact of certain changes to Visa's and Mastercard's respective card payment network rules and reductions in interchange fees for U.S.-based merchants; the possibility that the Corporation's future liabilities may be in excess of its recorded liability and estimated range of possible loss for litigation, and regulatory and government actions; the impact of U.S. and global interest rates (including the potential for fluctuations in interest rates), inflation, currency exchange rates, economic conditions, trade policies and tensions, including changes in, or the imposition of, tariffs and/or trade barriers and the economic impacts, volatility and uncertainty resulting therefrom, which may have varying effects across industries and geographies, and geopolitical instability; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Corporation's exposures to such risks, including direct, indirect and operational; the impact of the interest rate, inflationary, macroeconomic, banking and regulatory environment on the Corporation's assets, business, financial condition and results of operations; the impact of adverse developments affecting the U.S. or global banking industry, including a deterioration in private credit markets, bank failures and liquidity concerns, resulting in worsening economic and market volatility, and regulatory responses thereto; the possibility that future credit losses may be higher than currently expected, including due to changes in economic assumptions, which may include unemployment rates, real estate prices, gross domestic product levels and corporate bond spreads, customer behavior, adverse developments with respect to U.S. or global economic conditions and other uncertainties, such as the impact of trade policies, supply chain disruptions, commodity prices, inflationary pressures and labor shortages on economic conditions and our business; potential losses related to the Corporation's concentration of credit risk; the Corporation's ability to achieve its expense targets (including noninterest expense) and expectations regarding revenue, net interest income, operating leverage, other income, provision for credit losses, net charge-offs, effective tax rate, loan or deposit growth or other projections and targets; variances to the underlying assumptions and judgments used in estimating banking book net interest income sensitivity; adverse changes to the Corporation's credit ratings from the major credit rating agencies; an inability to access capital markets or maintain deposits or borrowing costs; estimates of the fair value and other accounting values, subject to impairment assessments, of certain of the Corporation's assets and liabilities; the estimated or actual impact of changes in accounting standards or assumptions in applying those standards; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements; the impact of adverse changes to total loss-absorbing capacity requirements, stress capital buffer requirements and/or global systemically important bank surcharges; the potential impact of actions of the Board of Governors of the Federal Reserve System on the Corporation's capital plans; the effect of changes in or interpretations of income tax laws and regulations, including impacts from the 2025 Budget Reconciliation Act; the impact of implementation and compliance with U.S. and international laws, regulations and regulatory interpretations, including recovery and resolution planning requirements, Federal Deposit Insurance Corporation assessments, fiduciary standards, derivatives regulations and potential changes to loss allocations between financial institutions and customers, including for losses incurred from the use of our products and services, including electronic payments and payment of checks, that were authorized by the customer but induced by fraud; the impact of failures or disruptions in or breaches of the Corporation's operations or information systems, or those of various third parties, including regulators and federal and state governments, such as from cybersecurity incidents; the risks related to the development, implementation, use and management of emerging technologies, including artificial intelligence and the ability to achieve expected or potential benefits, such as increased productivity, profitability and cost savings; the risks related to the transition and physical impacts of climate change; our ability to achieve environmental goals or the impact of any changes in the Corporation's sustainability or human capital management strategy or goals; the impact of uncertain or changing political conditions, federal government shutdowns, including partial shutdowns, and uncertainty regarding the federal government's debt limit or changes in fiscal, monetary, trade or regulatory policy; the emergence of widespread health emergencies or pandemics; the impact of natural disasters, extreme weather events, military conflicts (including the Russia/Ukraine conflict, the conflicts in the Middle East, the possible expansion of such conflicts and potential geopolitical and economic consequences), civil unrest, terrorism or other geopolitical events; and other matters.

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The Corporation is a Delaware corporation, a bank holding company (BHC) and a financial holding company. When used in this report, "Bank of America," "the Corporation," "we," "us" and "our" may refer to Bank of America Corporation individually, Bank of America Corporation and its subsidiaries, or certain of Bank of America Corporation's subsidiaries or affiliates. Our principal executive offices are located in Charlotte, North Carolina. Through our various bank and nonbank subsidiaries throughout the U.S. and in international markets, we provide a diversified range of banking and nonbank financial services and products through four business segments: Consumer Banking , Global Wealth & Investment Management (GWIM) , Global Banking and Global Markets , with the remaining operations recorded in All Other . We operate our banking activities primarily under the Bank of America, National Association (Bank of America, N.A. or BANA) charter. At June September 30, 2026, the Corporation had $3.5 $3.4 trillion in assets and a headcount of approximately 211,000 210,000 employees. As of June September 30, 2026, we served clients through operations across the U.S., its territories and more than 35 countries and/or jurisdictions. Our retail banking footprint covers all major markets in the U.S., and we serve more than 69 million consumer and small business clients with approximately 3,500 retail financial centers, approximately 15,000 automated teller machines (ATMs), and leading digital banking platforms (www.bankofamerica.com) with approximately 50 million active users, including approximately 42 43 million active mobile users. We offer industry-leading support to approximately four million small business households. Our GWIM businesses, with client balances of approximately $4.9 trillion, provide tailored solutions to meet client needs through a full set of investment management, brokerage, banking, trust and retirement products. We are a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.

GWIM businesses, with client balances of approximately $5.1 trillion, provide tailored solutions to meet client needs through a full set of investment management, brokerage, banking, trust and retirement products. We are a global leader in corporate and investment banking and trading across a broad range of asset classes serving corporations, governments, institutions and individuals around the world.

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On July 23, October 21, 2026, the Corporation's Board of Directors (Board) declared a quarterly common stock dividend of $0.32 per share, an increase of 14 percent compared to the prior quarterly dividend, payable on September 25, December 24, 2026 to shareholders of record as of September December 4, 2026.

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Regulatory Settlement

On October 13, 2026, the Office of the Comptroller of the Currency (OCC), the Financial Crimes Enforcement Network (FinCEN), and the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) announced regulatory resolutions related to certain aspects of the Corporation's U.S. Bank Secrecy Act, Anti-Money Laundering and Economic Sanctions Compliance Programs (Programs). These resolutions included consent orders with the OCC and FinCEN and a settlement agreement with OFAC. As a result, for the third quarter of 2026, the Corporation recorded a $1.2 billion non-tax-deductible charge in noninterest expense to accrue for the civil money penalties resulting from the regulatory consent orders and the settlement agreement ("regulatory settlement charge").

FinCEN's consent order and the previously disclosed December 2024 OCC consent order require the Corporation to undertake certain remedial actions to the Programs, including engaging independent consultants to review certain historical transactions, customer due diligence, foreign correspondent account due diligence, and Bank Secrecy Act/anti-money laundering data governance. The Corporation has completed significant steps to satisfy the requirements of the December 2024 OCC consent order. Since late 2023, the Corporation has increased the number of personnel dedicated to these activities and has made investments in technology and other resources supporting the remediation and ongoing compliance. The Corporation does not expect that the ongoing operating costs associated with these remediation and compliance activities will have a significant impact on consolidated noninterest expense in future periods.

For more information, see Note 10 – Commitments and Contingencies to the Consolidated Financial Statements.

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Three Months Ended June 30 Six Months Ended June 30

Net interest income $ 15,997 $ 14,670 $ 31,742 $ 29,113

Noninterest income 15,561 12,773 30,088 26,577

Total revenue, net of interest expense 31,558 27,443 61,830 55,690

Provision for credit losses 1,366 1,592 2,703 3,072

Noninterest expense 18,627 17,183 37,158 34,953

Income before income taxes 11,565 8,668 21,969 17,665

Income tax expense 2,491 1,498 4,311 3,135

Net income 9,074 7,170 17,658 14,530

Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions, except per share information) 2026 2025 2026 2025

Net interest income $ 16,449 $ 15,233 $ 48,191 $ 44,346

Noninterest income 13,509 13,807 43,597 40,384

Total revenue, net of interest expense 29,958 29,040 91,788 84,730

Provision for credit losses 1,269 1,295 3,972 4,367

Noninterest expense 19,722 17,337 56,880 52,290

Income before income taxes 8,967 10,408 30,936 28,073

Income tax expense 2,034 2,076 6,345 5,211

Net income 6,933 8,332 24,591 22,862

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Net income applicable to common shareholders $ 8,748 $ 6,879 $ 16,903 $ 13,833

Net income applicable to common shareholders $ 6,541 $ 7,903 $ 23,444 $ 21,736

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Earnings $ 1.22 $ 0.91 $ 2.35 $ 1.81

Diluted earnings 1.21 0.90 2.31 1.79

Dividends paid 0.28 0.26 0.56 0.52

Earnings $ 0.93 $ 1.06 $ 3.28 $ 2.87

Diluted earnings 0.91 1.04 3.23 2.84

Dividends paid 0.32 0.28 0.88 0.80

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Return on average tangible common shareholders' equity (1, 2)

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June September 30 2026 December 31 2025

Total loans and leases $ 1,217,619 1,251,260 $ 1,185,700

Total assets 3,499,191 3,427,704 3,411,738

Total deposits 2,025,124 2,038,758 2,018,729

Total liabilities 3,198,097 3,130,955 3,108,495

Total common shareholders' equity 276,098 271,753 277,251

Total shareholders' equity 301,094 296,749 303,243

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Net income was $9.1 $6.9 billion and $17.7 $24.6 billion, or $1.21 $0.91 and $2.31 $3.23 per diluted share, for the three and six nine months ended June September 30, 2026 compared to $7.2 $8.3 billion and $14.5 $22.9 billion, or $0.90 $1.04 and $1.79 $2.84 per diluted share, for the same periods in 2025. The increase decrease in net income for the three-month period was primarily due to higher noninterest income expense and lower noninterest income, partially offset by higher net interest income. The increase in net income for the nine-month period was due to higher net interest income and noninterest income, as well as lower provision for credit losses, partially offset by higher noninterest expense.

Total assets increased $87.5 $16.0 billion from December 31, 2025 to $3.5 $3.4 trillion primarily driven by higher loans and leases due to growth in commercial loans, higher securities borrowed or purchased under agreements to resell and higher customer and other receivables derivative assets to support Global Markets client activity, as well as higher loans cash and leases cash equivalents due to growth in commercial loans, balance sheet positioning, partially offset by lower debt securities primarily due to net sales, maturities, and paydowns, as well as lower trading account assets due to Global Markets client activity.

Total liabilities increased $89.6 $22.5 billion from December 31, 2025 to $3.2 $3.1 trillion primarily driven by deposit growth in Global Banking, higher derivative liabilities, customer trade payables, and trading account liabilities to support Global Markets client activity, as well as higher long-term debt issuances and short-term borrowings, for liquidity partially offset by lower securities loaned or sold under agreements to repurchase driven by balance sheet positioning.

Shareholders' equity decreased $2.1 $6.5 billion from December 31, 2025 primarily due to returns of capital to shareholders through common stock repurchases and common and preferred stock dividends, a decrease in accumulated other comprehensive income (OCI) and a preferred stock redemption, partially offset by net income.

Net interest income increased $1.3 $1.2 billion to $16.0 $16.4 billion, and $2.6 $3.8 billion to $31.7 $48.2 billion for the three and six nine months ended June September 30, 2026 compared to the same periods in 2025. Net interest yield on a fully taxable-equivalent (FTE) basis increased 14 15 basis points (bps) to 2.16 percent and 12 bps to 2.08 2.10 percent for both the three and six nine months ended June September 30, 2026 compared to the same periods in 2025. The increases were increase in the three-month period was primarily driven by loan and deposit growth, higher net interest income related to Global Markets activity, deposit and fixed-asset repricing, partially offset by the impact of lower interest rates. The increase in the nine-month period was primarily driven by higher net interest income related to Global Markets activity, loan and deposit growth, and fixed-asset repricing, partially offset by the impact of lower interest rates. For more information on net interest yield and FTE basis, see Supplemental Financial Data on page 6, and for more information on interest rate risk management, see Interest Rate Risk Management for the Banking Book on page 43.

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Three Months Ended June 30 Six Months Ended June 30

Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2026 2025 2026 2025

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Card income $ 1,583 $ 1,646 $ 3,076 $ 3,164

Service charges 1,706 1,615 3,380 3,176

Investment and brokerage services 5,653 4,780 11,194 9,593

Investment banking fees 2,138 1,428 3,979 2,951

Total fees and commissions 11,080 9,469 21,629 18,884

Market making and similar activities 4,177 3,153 7,814 6,737

Other income (loss) 304 151 645 956

Total noninterest income $ 15,561 $ 12,773 $ 30,088 $ 26,577

Card income $ 1,561 $ 1,629 $ 4,637 $ 4,793

Service charges 1,676 1,632 5,056 4,808

Investment and brokerage services 5,761 5,063 16,955 14,656

Investment banking fees 1,799 2,013 5,778 4,964

Total fees and commissions 10,797 10,337 32,426 29,221

Market making and similar activities 2,360 3,203 10,174 9,940

Other income (loss) 352 267 997 1,223

Total noninterest income $ 13,509 $ 13,807 $ 43,597 $ 40,384

Noninterest income increased $2.8 billion decreased $298 million to $15.6 $13.5 billion and increased $3.5 $3.2 billion to $30.1 $43.6 billion for the three and six nine months ended June September 30, 2026 compared to the same periods in 2025. The following highlights the significant changes.

● Service charges increased $91 $44 million and $204 $248 million primarily due to higher treasury service charges.

● Investment and brokerage services increased $873 $698 million and $1.6 $2.3 billion primarily driven by higher asset management fees reflecting higher market valuations and the impact of positive assets under management (AUM) flows. as well as higher brokerage fees due to increased transactional volume.

● Investment banking fees increased $710 decreased $214 million for the three-month period due to higher lower debt issuance advisory and equity issuance advisory fees. The increase of $1.0 billion $814 million in the six-month nine-month period was driven by higher advisory, debt equity issuance, advisory and equity debt issuance fees.

● Market making and similar activities decreased $843 million for the three-month period, primarily driven by lower trading revenue from credit products in Fixed Income, Currencies and Commodities (FICC), as well as lower income from foreign currency risk management activities. The increase of

● Market making and similar activities increased $1.0 billion and $1.1 billion $234 million in the nine-month period was primarily driven by higher trading revenue in Equities, partially offset by lower income from foreign currency risk management activities.

● Other income increased $153 $85 million for the three-month period primarily due to relatively higher equity investment expenses recognized in the prior year related to certain tax-related equity investments. placed in service during that period. The decrease of $311 $226 million in the six-month nine-month period was primarily due to gains recorded on leveraged finance activities in the prior-year period, partially offset by relatively higher equity investment expenses recognized in the prior year related to certain tax-related equity investments placed in service during that period.

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The provision for credit losses decreased $226 $26 million to $1.4 $1.3 billion and $369 $395 million to $2.7 $4.0 billion for the three and six nine months ended June September 30, 2026 compared to the same periods in 2025. For more information on the provision for credit losses, see Note 5 – Outstanding Loans and Leases and Allowance for Credit Losses to the Consolidated Financial Statements.

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Three Months Ended June 30 Six Months Ended June 30

Compensation and benefits $ 10,987 $ 10,332 $ 22,321 $ 21,221

Information processing and communications 1,924 1,819 3,942 3,713

Occupancy and equipment 1,914 1,836 3,814 3,692

Product delivery and transaction related 1,327 974 2,453 1,888

Professional fees 573 640 1,156 1,292

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and 1213 more changes in the filing

Controls and procedures 1 change

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There have been no changes in the Corporation's internal control over financial reporting (as defined in Rule 13a-15(f) of the Exchange Act) during the three months ended June September 30, 2026, that have materially affected, or are reasonably likely to materially affect, the Corporation's internal control over financial reporting.

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Financial statements 250 changes

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Three Months Ended June 30 Six Months Ended June 30

Interest income $ 33,832 $ 34,873 $ 67,191 $ 68,939

Interest expense 17,835 20,203 35,449 39,826

Net interest income 15,997 14,670 31,742 29,113

Fees and commissions 11,080 9,469 21,629 18,884

Market making and similar activities 4,177 3,153 7,814 6,737

Other income (loss) 304 151 645 956

Total noninterest income 15,561 12,773 30,088 26,577

Total revenue, net of interest expense 31,558 27,443 61,830 55,690

Provision for credit losses 1,366 1,592 2,703 3,072

Compensation and benefits 10,987 10,332 22,321 21,221

Information processing and communications 1,924 1,819 3,942 3,713

Occupancy and equipment 1,914 1,836 3,814 3,692

Product delivery and transaction related 1,327 974 2,453 1,888

Professional fees 573 640 1,156 1,292

Marketing 736 563 1,269 1,069

Other general operating 1,166 1,019 2,203 2,078

Total noninterest expense 18,627 17,183 37,158 34,953

Income before income taxes 11,565 8,668 21,969 17,665

Income tax expense 2,491 1,498 4,311 3,135

Net income $ 9,074 $ 7,170 $ 17,658 $ 14,530

Three Months Ended September 30 Nine Months Ended September 30 (In millions, except per share information) 2026 2025 2026 2025

Interest income $ 34,257 $ 35,366 $ 101,448 $ 104,305

Interest expense 17,808 20,133 53,257 59,959

Net interest income 16,449 15,233 48,191 44,346

Fees and commissions 10,797 10,337 32,426 29,221

Market making and similar activities 2,360 3,203 10,174 9,940

Other income (loss) 352 267 997 1,223

Total noninterest income 13,509 13,807 43,597 40,384

Total revenue, net of interest expense 29,958 29,040 91,788 84,730

Provision for credit losses 1,269 1,295 3,972 4,367

Compensation and benefits 10,969 10,523 33,290 31,744

Information processing and communications 2,008 1,827 5,950 5,540

Occupancy and equipment 1,967 1,872 5,781 5,564

Product delivery and transaction related 1,170 1,025 3,623 2,913

Professional fees 606 606 1,762 1,898

Marketing 669 572 1,938 1,641

Other general operating 2,333 912 4,536 2,990

Total noninterest expense 19,722 17,337 56,880 52,290

Income before income taxes 8,967 10,408 30,936 28,073

Income tax expense 2,034 2,076 6,345 5,211

Net income $ 6,933 $ 8,332 $ 24,591 $ 22,862

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Net income applicable to common shareholders $ 8,748 $ 6,879 $ 16,903 $ 13,833

Net income applicable to common shareholders $ 6,541 $ 7,903 $ 23,444 $ 21,736

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Earnings $ 1.22 $ 0.91 $ 2.35 $ 1.81

Diluted earnings 1.21 0.90 2.31 1.79

Average common shares issued and outstanding 7,151.2 7,581.2 7,203.5 7,629.5

Average diluted common shares issued and outstanding 7,294.2 7,651.6 7,356.2 7,711.2

Earnings $ 0.93 $ 1.06 $ 3.28 $ 2.87

Diluted earnings 0.91 1.04 3.23 2.84

Average common shares issued and outstanding 7,052.5 7,466.0 7,152.7 7,574.5

Average diluted common shares issued and outstanding 7,222.2 7,627.1 7,312.5 7,724.7

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Three Months Ended June 30 Six Months Ended June 30

Net income $ 9,074 $ 7,170 $ 17,658 $ 14,530

Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2026 2025 2026 2025

Net income $ 6,933 $ 8,332 $ 24,591 $ 22,862

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Net change in debt securities 52 ( 315 ) ( 477 ) 51

Net change in derivatives ( 751 ) 1,196 ( 1,378 ) 2,509

Employee benefit plan adjustments 36 26 71 53

Other comprehensive income (loss) ( 1,055 ) 767 ( 1,507 ) 2,781

Net change in debt securities ( 1,871 ) 438 ( 2,348 ) 489

Net change in debit valuation adjustments 90 ( 401 305 ) 349 ( 153 161 ) 259 144

Net change in derivatives ( 1,496 ) 636 ( 2,874 ) 3,145

Employee benefit plan adjustments 39 ( 16 ) 110 37

Net change in foreign currency translation adjustments 9 13 18 24 1 6 19 30

Other comprehensive income (loss) ( 3,237 ) 759 ( 4,744 ) 3,540

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Derivative assets 45,336 40,881

(Dollars in millions) June September 30

Cash and due from banks $ 28,100 26,907 $ 28,595

Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks 201,645 222,736 203,250

Cash and cash equivalents 229,745 249,643 231,845

Time deposits placed and other short-term investments 9,447 8,638 7,474

Federal funds sold and securities borrowed or purchased under agreements to resell (includes $ 217,206 217,522 and $ 185,491 measured at fair value)

Trading account assets (includes $ 178,949 161,758 and $ 185,869 pledged as collateral)

Derivative assets 53,148 40,881

Carried at fair value 363,419 345,636 402,975

Held-to-maturity, at amortized cost (fair value $ 423,734 392,513 and $ 442,430 )

Total debt securities 869,218 842,034 925,635

Loans and leases (includes $ 3,359 3,341 and $ 3,498 measured at fair value)

Allowance for loan and lease losses ( 13,114 13,005 ) ( 13,203 )

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and 170 more changes in the filing

Note 2: Net Interest Income and Noninterest Income 56 changes

Three Months Ended June 30 Six Months Ended June 30

Loans and leases $ 15,863 $ 15,651 $ 31,346 $ 30,874

Debt securities 6,032 6,913 12,323 13,680

Trading account assets 3,063 3,057 6,261 6,065

The table below presents the Corporation's net interest income and noninterest income disaggregated by revenue source for the three and six nine months ended June September 30, 2026 and 2025. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2025 Annual Report on Form 10-K. For a disaggregation of noninterest income by business segment and All Othe r, see Note 17 – Business Segment Information .

Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2026 2025 2026 2025

Loans and leases $ 16,487 $ 16,191 $ 47,833 $ 47,065

Debt securities 5,942 6,958 18,265 20,638

Federal funds sold and securities borrowed or purchased under agreements to resell 4,185 4,094 8,042 7,868 4,214 3,802 12,256 11,670

Trading account assets 3,156 3,195 9,417 9,260

1 unchanged paragraph

Total interest income 33,832 34,873 67,191 68,939

Deposits 7,372 8,681 14,673 17,313

Short-term borrowings 6,607 7,435 13,117 14,398

Trading account liabilities 756 676 1,501 1,383

Long-term debt 3,100 3,411 6,158 6,732

Total interest expense 17,835 20,203 35,449 39,826

Net interest income $ 15,997 $ 14,670 $ 31,742 $ 29,113

Total interest income 34,257 35,366 101,448 104,305

Deposits 7,605 8,932 22,278 26,245

Short-term borrowings 6,331 7,172 19,448 21,570

Trading account liabilities 797 672 2,298 2,055

Long-term debt 3,075 3,357 9,233 10,089

Total interest expense 17,808 20,133 53,257 59,959

Net interest income $ 16,449 $ 15,233 $ 48,191 $ 44,346

2 unchanged paragraphs

Other card income 636 610 1,264 1,212

Total card income 1,583 1,646 3,076 3,164

Deposit-related fees 1,336 1,265 2,642 2,493

Lending-related fees 370 350 738 683

Total service charges 1,706 1,615 3,380 3,176

Other card income 667 639 1,931 1,851

Total card income 1,561 1,629 4,637 4,793

Deposit-related fees 1,322 1,267 3,964 3,760

Lending-related fees 354 365 1,092 1,048

Total service charges 1,676 1,632 5,056 4,808

1 unchanged paragraph

Asset management fees 4,427 3,698 8,739 7,436

Brokerage fees 1,226 1,082 2,455 2,157

Total investment and brokerage services 5,653 4,780 11,194 9,593

Asset management fees 4,630 3,972 13,369 11,408

Brokerage fees 1,131 1,091 3,586 3,248

Total investment and brokerage services 5,761 5,063 16,955 14,656

1 unchanged paragraph

Underwriting income 1,220 806 2,171 1,576

Syndication fees 360 289 697 658

Financial advisory services 558 333 1,111 717

Total investment banking fees 2,138 1,428 3,979 2,951

Total fees and commissions 11,080 9,469 21,629 18,884

Market making and similar activities 4,177 3,153 7,814 6,737

Other income (loss) 304 151 645 956

Underwriting income 981 992 3,152 2,568

Syndication fees 347 438 1,044 1,096

Financial advisory services 471 583 1,582 1,300

Total investment banking fees 1,799 2,013 5,778 4,964

Total fees and commissions 10,797 10,337 32,426 29,221

Market making and similar activities 2,360 3,203 10,174 9,940

Other income (loss) 352 267 997 1,223

Total noninterest income $ 15,561 13,509 $ 12,773 13,807 $ 30,088 43,597 $ 26,577 40,384 (1) Includes interest income on interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks of $ 2.2 2.1 billion and $ 2.8 2.7 billion for the three months ended June September 30, 2026 and 2025, and $ 4.3 6.4 billion and $ 5.7 8.4 billion for the six nine months ended June September 30, 2026 and 2025.

(2) Gross interchange fees and merchant income were $ 3.7 3.6 billion and $ 3.5 3.4 billion for the three months ended June September 30, 2026 and 2025, and are presented net of $ 2.7 billion and $ 2.4 2.5 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods. Gross interchange fees and merchant income were $ 7.1 10.7 billion and $ 6.8 10.2 billion for the six nine months ended June September 30, 2026 and 2025 and are presented net of $ 5.3 8.0 billion and $ 4.8 7.3 billion of expenses for rewards and partner payments as well as certain other card costs for the same periods.

Note 3: Derivatives 159 changes

1 unchanged paragraph

Derivatives to the Consolidated Financial Statements of the Corporation's 2025 Annual Report on Form 10-K. The following tables present derivative instruments included on the Consolidated Balance Sheet in derivative assets and liabilities at June September 30, 2026 and December 31, 2025. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements and have been reduced by cash collateral received or paid.

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Swaps $ 27,203.0 $ 73.6 $ 4.4 $ 78.0 $ 64.4 $ 7.5 $ 71.9

Futures and forwards 4,582.7 4.1 — 4.1 3.5 — 3.5

Swaps $ 30,461.4 $ 83.1 $ 7.9 $ 91.0 $ 65.6 $ 15.9 $ 81.5

Futures and forwards 5,114.2 16.6 — 16.6 13.4 — 13.4

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Swaps 3,186.3 50.4 0.3 50.7 42.8 — 42.8

Spot, futures and forwards 5,402.0 40.7 0.7 41.4 38.5 0.1 38.6

Swaps 3,184.9 47.2 0.3 47.5 39.4 0.1 39.5

Spot, futures and forwards 5,880.8 42.3 0.7 43.0 40.3 0.1 40.4

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Swaps 809.5 30.0 — 30.0 43.3 — 43.3

Futures and forwards 184.1 4.4 — 4.4 2.3 — 2.3

Swaps 778.9 20.9 — 20.9 27.2 — 27.2

Futures and forwards 177.1 2.1 — 2.1 2.6 — 2.6

1 unchanged paragraph

Swaps 76.7 4.2 — 4.2 5.7 — 5.7

Futures and forwards 162.9 3.4 0.2 3.6 2.6 0.1 2.7

Swaps 78.8 5.8 — 5.8 7.1 — 7.1

Futures and forwards 188.6 2.5 — 2.5 1.9 0.1 2.0

3 unchanged paragraphs

Credit default swaps 536.1 1.3 — 1.3 4.1 — 4.1

Credit default swaps 609.6 1.7 — 1.7 3.9 — 3.9

Total return swaps/options 127.2 0.4 158.8 0.7 — 0.4 0.7 0.9 — 0.9

1 unchanged paragraph

Credit default swaps 499.2 2.8 — 2.8 1.2 — 1.2

Total return swaps/options 141.9 1.0 — 1.0 2.9 — 2.9

Gross derivative assets/liabilities $ 344.4 $ 5.6 $ 350.0 $ 348.5 $ 7.7 $ 356.2

Total derivative assets/liabilities $ 45.3 $ 42.6

Credit default swaps 577.8 2.9 — 2.9 1.5 — 1.5

Total return swaps/options 170.0 1.3 — 1.3 3.6 — 3.6

Gross derivative assets/liabilities $ 364.9 $ 8.9 $ 373.8 $ 355.5 $ 16.2 $ 371.7

Less: Legally enforceable master netting agreements ( 270.9 287.1 ) ( 270.9 287.1 )

Less: Cash collateral received/paid ( 33.8 33.6 ) ( 42.7 35.4 )

Total derivative assets/liabilities $ 53.1 $ 49.2

3 unchanged paragraphs

(4) The net derivative asset (liability) and notional amount of written credit derivatives for which the Corporation held purchased credit derivatives with identical underlying referenced names were $ 1.5 1.3 billion and $ 476.1 551.0 billion, respectively, at June September 30, 2026.

35 unchanged paragraphs

The following table presents derivative instruments included in derivative assets and liabilities on the Consolidated Balance Sheet at June September 30, 2026 and December 31, 2025 by primary risk (e.g., interest rate risk) and the platform, where applicable, on which these derivatives are transacted. Balances are presented on a gross basis, prior to the application of counterparty and cash collateral netting. Total gross derivative assets and liabilities are adjusted on an aggregate basis to take into consideration the effects of legally enforceable master netting agreements, which include reducing the balance for counterparty netting and cash collateral received or paid.

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(Dollars in billions) June September 30, 2026 December 31, 2025

1 unchanged paragraph

Over-the-counter $ 103.5 128.0 $ 94.2 112.4 $ 106.2 $ 100.0

Exchange-traded 0.3 0.2 0.1 — —

Over-the-counter cleared 8.3 7.8 17.5 18.8 6.3 5.9

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Exchange-traded 67.1 65.9 46.8 45.1

Over-the-counter 97.3 87.9 95.5 86.0 80.4 75.3

Over-the-counter cleared 1.9 2.0 1.3 1.4 1.2 1.3

Over-the-counter 47.7 71.1 37.4 53.9 31.3 43.8

Exchange-traded 68.6 68.2 46.8 45.1

Over-the-counter 9.1 9.9 10.6 10.8 9.9 11.8

Exchange-traded 2.7 2.4 3.0 3.0 1.6 1.7

Over-the-counter cleared 0.2 0.1 0.2 0.3 0.4

Over-the-counter 5.4 9.1 6.6 9.9 4.9 7.1

1 unchanged paragraph

Over-the-counter 263.0 272.2 278.1 273.0 232.7 238.0

Exchange-traded 70.0 68.4 71.9 71.4 48.4 46.8

Over-the-counter cleared 10.4 10.0 18.9 20.4 7.8 7.6

1 unchanged paragraph

Exchange-traded ( 67.0 ) ( 67.0 ) ( 44.5 ) ( 44.5 )

Over-the-counter ( 227.6 235.5 ) ( 237.1 238.2 ) ( 199.2 ) ( 203.9 )

Exchange-traded ( 66.6 ) ( 66.6 ) ( 44.5 ) ( 44.5 )

Over-the-counter cleared ( 10.1 18.6 ) ( 9.5 17.7 ) ( 7.6 ) ( 7.1 )

Derivative assets/liabilities, after netting 38.7 37.0 48.2 42.3 37.6 36.9

1 unchanged paragraph

Total derivative assets/liabilities 45.3 42.6 53.1 49.2 40.9 42.1

1 unchanged paragraph

Total net derivative assets/liabilities $ 21.8 30.1 $ 23.4 31.8 $ 20.4 $ 25.4 (1) Over-the-counter (OTC) derivatives include bilateral transactions between the Corporation and a particular counterparty. Over-the-counter cleared derivatives include bilateral transactions between the Corporation and a counterparty where the transaction is cleared through a clearinghouse. Exchange-traded derivatives include listed options transacted on an exchange.

5 unchanged paragraphs

The table below summarizes information related to fair value hedges for the three and six nine months ended June September 30, 2026 and 2025.

Gains and Losses on Derivatives and Hedged Items Designated in Fair Value Hedges (Dollars in millions) Three Months Ended June September 30, 2026 Three Months Ended June September 30, 2025

3 unchanged paragraphs

Total $ 730 $ ( 743 ) $ ( 964 ) $ 933

Six Months Ended June 30, 2026 Six Months Ended June 30, 2025

Price risk on commodity inventory (4) (4,5)

Total $ ( 1,583 ) $ 1,581 $ ( 731 ) $ 728

Nine Months Ended September 30, 2026 Nine Months Ended September 30, 2025

3 unchanged paragraphs

Total $ 1,309 $ ( 1,349 ) $ ( 3,014 ) $ 2,930

Price risk on commodity inventory (4) (4,5)

Total $ ( 274 ) $ 232 $ ( 3,745 ) $ 3,658

1 unchanged paragraph

(2) Represents cross-currency interest rate swaps related to available-for-sale debt securities and long-term debt. For the three and six nine months ended June September 30, 2026, the derivative amount includes gains (losses) of $ 11 ) 103 million and $ 9 ) 94 million in interest income, $( 82 3 ) million and $ 163 160 million in market making and similar activities, and $( 2 8 ) million and $( 6 14 ) million in accumulated other comprehensive income (OCI). For the same periods in 2025, the derivative amount includes gains (losses) of $ 16 ) 4 million and $( 7 3 ) million in interest income, $ 148 ) 123 million and $( 358 235 ) million in market making and similar activities, and $( 1 2 ) million and $( 2 4 ) million in accumulated OCI. Line item totals are in the Consolidated Statement of Income and on the Consolidated Balance Sheet.

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(5) For certain commodity hedges, the forward component of the derivative is excluded from the accounting hedge. Gains (losses) related to this excluded component and recognized in market making and similar activities were $ 67 million and $ 297 million for the three and nine months ended September 30, 2026, respectively, compared to $( 12 ) million and $ 6 million for the same periods in 2025.

2 unchanged paragraphs

June September 30, 2026 December 31, 2025

2 unchanged paragraphs

Long-term debt $ 196,963 $ ( 3,027 ) $ 175,694 $ ( 792 )

Long-term debt $ 180,932 $ ( 9,573 ) $ 175,694 $ ( 792 )

3 unchanged paragraphs

(2) These amounts include the amortized cost of the financial assets in closed portfolios used to designate hedging relationships in which the hedged item is a stated layer that is expected to be remaining at the end of the hedging relationship (i.e. portfolio layer hedging relationship). At June September 30, 2026 and December 31, 2025, the amortized cost of the closed portfolios used in these hedging relationships was $ 43.6 42.0 billion and $ 35.8 billion, of which $ 29.3 35.5 billion and $ 23.7 billion were designated in a portfolio layer hedging relationship. At June September 30, 2026 and December 31, 2025, the cumulative adjustment associated with these hedging relationships was a decrease of $ 373 million 1.5 billion and $ 46 million.

2 unchanged paragraphs

At June September 30, 2026 and December 31, 2025, the fair value adjustments from de-designated long-term debt hedges decreased the long-term debt carrying value by $ 12.0 11.5 billion and $ 12.9 billion. The fair value adjustments from de-designated available-for-sale (AFS) debt securities hedges decreased the AFS debt securities carrying value by $ 1.4 1.2 billion and $ 2.7 billion. The fair value adjustments are being amortized or accreted into interest over the contractual lives of the assets or liabilities.

1 unchanged paragraph

The table below summarizes certain information related to cash flow hedges and net investment hedges for the three and six nine months ended June September 30, 2026 and 2025. Of the $ 3.4 4.9 billion after-tax net loss ($ 4.4 6.4 billion pretax) on derivatives in accumulated OCI at June September 30, 2026, losses of $ 2.0 2.4 billion after-tax ($ 2.7 3.2 billion pretax) related to both open and closed cash flow hedges are expected to be reclassified into earnings in the next 12 months. These net losses reclassified into earnings are expected to primarily decrease net interest income related to the respective hedged items. For open cash flow hedges, the maximum length of time over which forecasted transactions are hedged is approximately three years . For terminated cash flow hedges, the time period over which the forecasted transactions will be recognized in interest income is approximately five four years , with the aggregated amount beyond this time period being insignificant.

3 unchanged paragraphs

(Dollars in millions, amounts pretax) Three Months Ended June September 30, 2026 Six Nine Months Ended June September 30, 2026

3 unchanged paragraphs

Total $ ( 1,338 ) $ ( 351 ) $ ( 2,531 ) $ ( 723 )

Total $ ( 2,286 ) $ ( 325 ) $ ( 4,817 ) $ ( 1,048 )

2 unchanged paragraphs

Three Months Ended June 30, 2025 Six Months Ended June 30, 2025

Three Months Ended September 30, 2025 Nine Months Ended September 30, 2025

3 unchanged paragraphs

Total $ 1,221 $ ( 374 ) $ 2,583 $ ( 762 )

Total $ 513 $ ( 381 ) $ 3,096 $ ( 1,143 )

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Note 4: Securities 105 changes

The table below presents the amortized cost, gross unrealized gains and losses, and fair value of AFS debt securities, other debt securities carried at fair value and held-to-maturity (HTM) debt securities at June September 30, 2026 and December 31, 2025 .

(Dollars in millions) June September 30, 2026 December 31, 2025

2 unchanged paragraphs

Agency $ 41,870 $ 125 $ ( 1,154 ) $ 40,841 $ 34,240 $ 80 $ ( 1,179 ) $ 33,141

Commercial 44,281 260 ( 484 ) 44,057 38,688 191 ( 385 ) 38,494

Agency $ 39,186 $ 23 $ ( 1,964 ) $ 37,245 $ 34,240 $ 80 $ ( 1,179 ) $ 33,141

Agency-collateralized mortgage obligations 17,204 85 16,265 1 ( 141 302 ) 17,148 15,964 19,304 27 ( 132 ) 19,199

Commercial 43,318 126 ( 928 ) 42,516 38,688 191 ( 385 ) 38,494

1 unchanged paragraph

Total mortgage-backed securities 103,430 471 98,844 151 ( 1,803 3,222 ) 102,098 95,773 92,505 353 ( 1,752 ) 91,106

U.S. Treasury and government agencies 195,191 128 175,017 71 ( 916 1,439 ) 194,403 173,649 250,065 390 ( 621 ) 249,834

Non-U.S. securities 37,718 12 46,315 19 ( 63 66 ) 37,667 46,268 31,765 20 ( 18 ) 31,767

Other taxable securities 7,399 6,235 2 ( 54 88 ) 7,347 6,149 6,328 12 ( 36 ) 6,304

Tax-exempt securities 7,176 8 7,216 7 ( 159 248 ) 7,025 6,975 7,948 15 ( 176 ) 7,787

Total available-for-sale debt securities 350,914 621 333,627 250 ( 2,995 5,063 ) 348,540 328,814 388,611 790 ( 2,603 ) 386,798

1 unchanged paragraph

Total debt securities carried at fair value 365,842 742 350,549 323 ( 3,165 5,236 ) 363,419 345,636 404,677 990 ( 2,692 ) 402,975

1 unchanged paragraph

Agency mortgage-backed securities 379,169 370,073 — ( 68,332 87,397 ) 310,837 282,676 395,415 — ( 67,309 ) 328,106

U.S. Treasury and government agencies 121,262 121,273 — ( 13,011 15,621 ) 108,251 105,652 121,242 — ( 12,225 ) 109,017

Other taxable securities 5,397 5,080 1 ( 752 896 ) 4,646 4,185 6,028 2 ( 723 ) 5,307

Total held-to-maturity debt securities 505,828 496,426 1 ( 82,095 103,914 ) 423,734 392,513 522,685 2 ( 80,257 ) 442,430

1 unchanged paragraph

$ 871,670 846,975 $ 743 324 $ ( 85,260 109,150 ) $ 787,153 738,149 $ 927,362 $ 992 $ ( 82,949 ) $ 845,405 (1) At June September 30, 2026 and December 31, 2025, the underlying collateral type included approximately 10 percent and 27 percent prime and 90 percent and 73 percent subprime.

1 unchanged paragraph

(3) Includes securities pledged as collateral of $ 101.9 110.3 billion and $ 153.8 billion at June September 30, 2026 and December 31, 2025.

(4) The Corporation held debt securities from Fannie Mae (FNMA) and Freddie Mac (FHLMC) that each exceeded 10 percent of shareholders' equity, with an amortized cost of $ 240.5 234.5 billion and $ 156.6 153.0 billion, and a fair value of $ 200.9 183.7 billion and $ 131.5 121.0 billion at June September 30, 2026, and an amortized cost of $ 246.9 billion and $ 158.5 billion, and a fair value of $ 208.0 billion and $ 133.6 billion at December 31, 2025.

At June September 30, 2026 and December 31, 2025, the Corporation's expected credit losses on AFS and HTM debt securities with a total amortized cost of $ 856.7 830.1 billion and $ 911.3 billion were not significant. Of these amounts, $ 803.2 769.1 billion and $ 863.7 billion of AFS and HTM debt securities were predominantly U.S. agency and U.S. Treasury securities and had a zero credit loss assumption as of the end of the same periods. At June September 30, 2026 and December 31, 2025, nonperforming AFS debt securities held by the Corporation were not significant. For more information on the zero credit loss assumption, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation's 2025 Annual Report on Form 10-K.

At June September 30, 2026 and December 31, 2025, the Corporation held equity securities at an aggregate fair value of $ 225 230 million and $ 253 million, respectively, and other equity securities, as valued under the measurement alternative, at a carrying value of $ 523 547 million and $ 479 million, respectively, both of which are included in other assets. At both June September 30, 2026 and December 31, 2025, the Corporation also held money market investments at a fair value of $ 1.4 billion and $ 1.2 billion, which are included in time deposits placed and other short-term investments.

The gross realized gains and losses on sales of AFS debt securities for the three and six nine months ended June September 30, 2026 and 2025 are presented in the table below.

1 unchanged paragraph

Three Months Ended June 30 Six Months Ended June 30

Gross gains $ 111 $ 5 $ 178 $ 16

Gross losses ( 95 ) ( 23 ) ( 159 ) ( 36 )

Three Months Ended September 30 Nine Months Ended September 30 (Dollars in millions) 2026 2025 2026 2025

Gross gains $ 68 $ 34 $ 246 $ 50

Gross losses ( 47 ) ( 37 ) ( 206 ) ( 73 )

Net gains (losses) on sales of AFS debt securities $ 16 21 $ ( 18 3 ) $ 19 40 $ ( 20 23 )

Income tax expense (benefit) attributable to realized net gains (losses) on sales of AFS debt securities $ 4 5 $ ( 5 1 ) $ 5 10 $ ( 5 6 )

The table below presents the fair value and the associated gross unrealized losses on AFS debt securities and whether these securities have had gross unrealized losses for less than 12 months or for 12 months or longer at June September 30, 2026 and December 31, 2025. Substantially all of the unrealized losses relate to debt securities that have a zero credit loss assumption.

2 unchanged paragraphs

(Dollars in millions) June September 30, 2026

2 unchanged paragraphs

Agency $ 11,723 $ ( 68 ) $ 15,861 $ ( 1,086 ) $ 27,584 $ ( 1,154 )

Agency-collateralized mortgage obligations 138 ( 1 ) 1,324 ( 140 ) 1,462 ( 141 )

Commercial 12,780 ( 152 ) 4,256 ( 332 ) 17,036 ( 484 )

Non-agency residential 8 ( 1 ) 40 ( 23 ) 48 ( 24 )

Total mortgage-backed securities 24,649 ( 222 ) 21,481 ( 1,581 ) 46,130 ( 1,803 )

U.S. Treasury and government agencies 65,561 ( 385 ) 44,321 ( 531 ) 109,882 ( 916 )

Non-U.S. securities 12,362 ( 58 ) 2,651 ( 5 ) 15,013 ( 63 )

Other taxable securities 3,713 ( 24 ) 1,302 ( 30 ) 5,015 ( 54 )

Tax-exempt securities 284 ( 1 ) 1,585 ( 158 ) 1,869 ( 159 )

Agency $ 19,712 $ ( 493 ) $ 14,430 $ ( 1,471 ) $ 34,142 $ ( 1,964 )

Agency-collateralized mortgage obligations 14,144 ( 128 ) 1,241 ( 174 ) 15,385 ( 302 )

Commercial 20,966 ( 544 ) 4,172 ( 384 ) 25,138 ( 928 )

Non-agency residential 7 ( 1 ) 38 ( 27 ) 45 ( 28 )

Total mortgage-backed securities 54,829 ( 1,166 ) 19,881 ( 2,056 ) 74,710 ( 3,222 )

U.S. Treasury and government agencies 78,462 ( 893 ) 39,621 ( 546 ) 118,083 ( 1,439 )

Non-U.S. securities 19,265 ( 55 ) 2,457 ( 11 ) 21,722 ( 66 )

Other taxable securities 3,641 ( 42 ) 1,404 ( 46 ) 5,045 ( 88 )

Tax-exempt securities 768 ( 45 ) 1,862 ( 203 ) 2,630 ( 248 )

15 unchanged paragraphs

The remaining contractual maturity distribution and yields of the Corporation's debt securities carried at fair value and HTM debt securities at June September 30, 2026 are summarized in the table below. Actual duration and yields may differ as prepayments on the loans underlying the mortgage-backed securities (MBS) or other asset-backed securities (ABS) are passed through to the Corporation.

7 unchanged paragraphs

Agency $ — — % $ 3 3.24 % $ 4 5.20 % $ 41,868 4.68 % $ 41,875 4.68 %

Agency-collateralized mortgage obligations — — — — 1 1.00 17,203 5.56 17,204 5.56

Commercial 178 2.83 23,485 4.11 18,749 4.44 1,882 3.85 44,294 4.23

Non-agency residential — — — — 1 0.27 319 13.11 320 13.07

Total mortgage-backed securities 178 2.83 23,488 4.11 18,755 4.44 61,272 4.94 103,693 4.66

U.S. Treasury and government agencies 12,238 3.91 170,697 3.63 15,939 3.55 43 3.12 198,917 3.64

Non-U.S. securities 25,189 2.69 6,147 3.35 7,789 4.45 9,532 4.06 48,657 3.32

Other taxable securities 2,098 4.88 4,421 4.39 187 2.99 693 4.38 7,399 4.49

Tax-exempt securities 233 2.50 2,624 3.35 847 3.13 3,472 3.51 7,176 3.37

Total amortized cost of debt securities carried at fair value $ 39,936 3.18 $ 207,377 3.69 $ 43,517 4.08 $ 75,012 4.76 $ 365,842 3.90

Agency $ — — % $ 3 2.98 % $ 5 4.58 % $ 39,183 4.69 % $ 39,191 4.69 %

Agency-collateralized mortgage obligations — — — — 1 0.82 16,264 5.55 16,265 5.55

Commercial 153 3.20 23,945 4.12 17,402 4.47 1,831 3.69 43,331 4.24

Non-agency residential — — — — 1 11.18 314 13.21 315 13.21

Total mortgage-backed securities 153 3.20 23,948 4.12 17,409 4.47 57,592 4.95 99,102 4.66

U.S. Treasury and government agencies 29,748 3.96 140,309 3.67 9,279 4.08 29 4.01 179,365 3.74

Non-U.S. securities 28,594 2.94 12,792 3.29 7,852 4.60 9,393 4.19 58,631 3.44

Other taxable securities 634 5.12 4,590 4.55 308 4.08 703 4.05 6,235 4.53

Tax-exempt securities 400 3.23 2,402 4.13 787 3.64 3,627 4.19 7,216 4.06

Total amortized cost of debt securities carried at fair value $ 59,529 3.47 $ 184,041 3.73 $ 35,635 4.37 $ 71,344 4.80 $ 350,549 3.97

1 unchanged paragraph

Agency mortgage-backed securities $ — — % $ — — % $ 45 2.93 % $ 379,124 2.11 % $ 379,169 2.11 %

U.S. Treasury and government agencies 4,100 1.70 110,670 1.39 6,492 1.32 — — 121,262 1.40

Other taxable securities 209 1.75 244 2.89 246 2.56 4,698 2.53 5,397 2.52

Total amortized cost of HTM debt securities $ 4,309 1.70 $ 110,914 1.39 $ 6,783 1.37 $ 383,822 2.12 $ 505,828 1.94

Agency mortgage-backed securities $ — — % $ 1 2.12 % $ 42 2.74 % $ 370,030 2.12 % $ 370,073 2.12 %

U.S. Treasury and government agencies 4,102 1.69 117,171 1.22 — — — — 121,273 1.24

Other taxable securities 76 1.68 261 2.83 219 2.43 4,524 2.53 5,080 2.53

2 unchanged paragraphs

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and 25 more changes in the filing

Note 5: Outstanding Loans and Leases and Allowance for Credit Losses 290 changes

The following tables present total outstanding loans and leases and an aging analysis for the Consumer Real Estate, Credit Card and Other Consumer, and Commercial portfolio segments, by class of financing receivables, at June September 30, 2026 and December 31, 2025.

(Dollars in millions) June September 30, 2026

1 unchanged paragraph

Residential mortgage $ 1,442 $ 284 $ 822 $ 2,548 $ 233,768 $ 236,316

Home equity 78 31 105 214 26,900 27,114

Residential mortgage (2)

Home equity 75 29 102 206 27,211 27,417

1 unchanged paragraph

Credit card 655 456 1,241 2,352 103,307 105,659

Other consumer — — — — 182 182

Total consumer 2,449 901 2,255 5,605 481,993 487,598

Total consumer loans and leases 2,449 901 2,255 5,605 481,993 159 487,757

U.S. commercial 431 227 588 1,246 455,386 456,632

Non-U.S. commercial 49 27 153 229 159,665 159,894

Commercial lease financing 43 22 62 127 15,275 15,402

U.S. small business commercial 212 73 188 473 23,164 23,637

Total commercial 787 451 1,690 2,928 723,734 726,662

Total commercial loans and leases 787 451 1,690 2,928 723,734 3,200 729,862

Credit card 757 520 1,211 2,488 104,854 107,342

Direct/Indirect consumer (2) (3)

Other consumer — — — — 156 156

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80 unchanged paragraphs

5 unchanged paragraphs

3 unchanged paragraphs

3 unchanged paragraphs

2 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

and 271 more changes in the filing

Note 6: Securitizations and Other Variable Interest Entities 61 changes

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

4 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

3 unchanged paragraphs

5 unchanged paragraphs

5 unchanged paragraphs

3 unchanged paragraphs

3 unchanged paragraphs

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

and 61 more changes in the filing

Note 7: Goodwill and Intangible Assets 4 changes

5 unchanged paragraphs

and 4 more changes in the filing

Note 8: Leases 20 changes

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

and 20 more changes in the filing

Note 9: Securities Financing Agreements, Collateral and Restricted Cash 29 changes

3 unchanged paragraphs

4 unchanged paragraphs

1 unchanged paragraph

4 unchanged paragraphs

4 unchanged paragraphs

7 unchanged paragraphs

6 unchanged paragraphs

and 29 more changes in the filing

Note 10: Commitments and Contingencies 29 changes

2 unchanged paragraphs

1 unchanged paragraph

4 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

8 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

6 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

and 29 more changes in the filing

Note 11: Shareholders' Equity 6 changes

2 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

and 6 more changes in the filing

Note 12: Accumulated Other Comprehensive Income (Loss) 36 changes

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

and 36 more changes in the filing

Note 13: Earnings Per Common Share 21 changes

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

and 21 more changes in the filing

Note 14: Fair Value Measurements 205 changes

2 unchanged paragraphs

6 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

51 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

4 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

2 unchanged paragraphs

4 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

4 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

4 unchanged paragraphs

1 unchanged paragraph

67 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

and 205 more changes in the filing

Note 15: Fair Value Option 61 changes

1 unchanged paragraph

5 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

4 unchanged paragraphs

and 61 more changes in the filing

Note 16: Fair Value of Financial Instruments 7 changes

2 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

5 unchanged paragraphs

1 unchanged paragraph

and 7 more changes in the filing

Note 17: Business Segment Information 218 changes

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

3 unchanged paragraphs

3 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

3 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

3 unchanged paragraphs

2 unchanged paragraphs

1 unchanged paragraph

2 unchanged paragraphs

1 unchanged paragraph

1 unchanged paragraph

1 unchanged paragraph

2 unchanged paragraphs

34 unchanged paragraphs

1 unchanged paragraph

17 unchanged paragraphs

27 unchanged paragraphs

13 unchanged paragraphs

and 218 more changes in the filing

Unregistered sales of stock 13 changes

4 unchanged paragraphs

and 13 more changes in the filing

Other information 5 changes

1 unchanged paragraph

and 5 more changes in the filing

Exhibits 1 change

20 unchanged paragraphs

1 unchanged paragraph

and 1 more change in the filing