AI Earnings Predictions for Bank of America Corporation (BAC)

bac-20261014

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As filed with the Securities and Exchange Commission on October 14, 2026

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

October 14, 2026

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware1-652356-0906609

(State or Other Jurisdiction of Incorporation)(Commission File Number)(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol(s)Name of each exchange on which registered

Common Stock, par value $0.01 per shareBACNew York Stock Exchange

Depositary Shares, each representing a 1/1,000th interest in a share of Floating Rate Non-Cumulative Preferred Stock, Series EBAC PrENew York Stock Exchange

Depositary Shares, each representing a 1/1,000th interest in a share of 6.000% Non-Cumulative Preferred Stock, Series GGBAC PrBNew York Stock Exchange

Depositary Shares, each representing a 1/1,000th interest in a share of 5.875% Non-Cumulative Preferred Stock, Series HHBAC PrKNew York Stock Exchange

7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series LBAC PrLNew York Stock Exchange

Depositary Shares, each representing a 1/1,200th interest in a share of BML PrGNew York Stock Exchange

Bank of America Corporation Floating Rate Non-Cumulative

Preferred Stock, Series 1

Depositary Shares, each representing a 1/1,200th interest in a share of BML PrHNew York Stock Exchange

Bank of America Corporation Floating Rate Non-Cumulative

Preferred Stock, Series 2

Depositary Shares, each representing a 1/1,200th interest in a share of BML PrJNew York Stock Exchange

Bank of America Corporation Floating Rate Non-Cumulative

Preferred Stock, Series 4

Depositary Shares, each representing a 1/1,200th interest in a share of BML PrLNew York Stock Exchange

Bank of America Corporation Floating Rate Non-Cumulative

Preferred Stock, Series 5

Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIII (and the guarantee related thereto)BAC/PFNew York Stock Exchange

5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities of BAC Capital Trust XIV (and the guarantee related thereto)BAC/PGNew York Stock Exchange

Income Capital Obligation Notes initially due December 15, 2066 of Bank of America CorporationMER PrKNew York Stock Exchange

Senior Medium-Term Notes, Series A, Step Up Callable Notes, due BAC/31BNew York Stock Exchange

November 28, 2031 of BofA Finance LLC (and the guarantee of the

Registrant with respect thereto)

Depositary Shares, each representing a 1/1,000th interest in a share of 5.375% Non-Cumulative Preferred Stock

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1 2Q26 Financial Highlights3(B) 2Q26 Business Segment Highlights1,3,4(B) Consumer Banking • Net income of $3.3 billion • Revenue of $11.3 billion, up 5% • Average deposits of $957 billion were up 1% and up 33% from pre- pandemic levels (4Q19); #1 in U.S. Consumer Deposits5 • Average loans and leases of $321 billion, up $2 billion, or 1% • #1 Small Business Lender for 20 consecutive quarters5 • Combined credit / debit card spend of $266 billion, up 9% • Client Highlights – Added 160K+ net new consumer checking accounts; completed 30 consecutive quarters of net growth – 38.7 million consumer checking accounts; 92% are primary6 – 4+ million small business checking accounts – $640 billion in consumer investment assets, up 18%7 – $1.2 trillion in payments, up 5%8 – 13.3 million clients enrolled in BofA Rewards; ~2 million new enrollments in 2Q2610 – 4.4 billion digital logins; 70% of total sales were digitally-enabled Global Wealth and Investment Management • Net income of $1.4 billion • Revenue of $6.9 billion, up 16%, driven by higher asset management fees, up 19% to $4.4 billion, reflecting higher market valuations and solid assets under management (AUM) flows, as well as higher NII • Client balances of $4.9 trillion, up 12%, driven primarily by higher market valuations • Average loans and leases of $270 billion, up $33 billion, or 14% • Client Highlights – $2.3 trillion of AUM balances, up 17% – Added ~6K net new $500K+ relationships across Merrill and Private Bank – 87% of Merrill and Private Bank clients digitally active Global Banking • Net income of $2.0 billion • Total Corporation investment banking fees (excl. self-led) of $2.1 billion, up 50% • $652 billion in average deposits, up 8% • Average loans and leases increased 7%, with growth across corporate, commercial and business banking • 10% improvement in treasury service charges Global Markets • Net income of $2.6 billion • Sales and trading revenue of $7.1 billion, incl. net debit valuation adjustment (DVA) losses of $57 million. Up 33% incl. and excl. net DVA.(E) 17th consecutive quarter of year-over-year growth – Equities revenue up 70% to $3.6 billion, incl. and excl. net DVA(E) – Fixed Income, Currencies and Commodities (FICC) revenue up 9% to $3.5 billion, incl. and excl. net DVA(E) From Chair and CEO Brian Moynihan: The team delivered one of our strongest quarters to date, with earnings per share up 34% year-over-year. Every business segment reported double digit net income growth and strong returns on equity. Revenue increased 15% from last year as we deepened relationships with existing clients and welcomed new ones. Against a healthy economic backdrop, resilient consumers and businesses are turning to Bank of America to spend, borrow and invest. It was also an exceptional quarter for our markets-facing businesses, with investment banking fees up 50% year-over-year. Near-term, pipelines remain strong, and commercial borrowing has picked up. Disciplined expense management, coupled with investments for growth, helped drive 6.6% operating leverage and a roughly 360 basis point improvement in our efficiency ratio from a year ago. Going forward, we remain focused on what we do best, delivering for clients at every stage of their financial lives. Bank of America Reports 2Q26 Net Income of $9.1 Billion; EPS of $1.21, Up 34% YoY 2Q26 Revenue Up 15% YoY to $31.6 Billion,1 Net Interest Income Up 9% YoY to $16.0 Billion ($16.2 Billion FTE)(A) Operating Leverage of 6.6%2 See page 10 for endnotes. Amounts may not total due to rounding. 1 Revenue, net of interest expense. 2 Operating leverage calculated as the year-over-year percentage change in revenue, net of interest expense, less the percentage change in noninterest expense. 3 Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. 4 The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. 5 Source: Federal Financial Institutions Examination Council (FFIEC) Call Reports, 1Q26. 6 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 7 End of period. Consumer investment assets include client brokerage assets, deposit sweep balances, brokered CDs, and AUM in Consumer Banking. 8 Total payments represent payments made from Bank of America accounts using credit card, debit card, ACH, wires, billpay, person-to-person, cash and checks. 9 Return on average tangible common shareholders’ equity ratio represents a non-GAAP financial measure. For more information, see page 19. 10 Clients enrolled in BofA Rewards include legacy Preferred Rewards clients and new enrollments since launch of BofA Rewards on May 27, 2026. New client enrollment as of

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1 1Q26 Financial Highlights3(B) 1Q26 Business Segment Highlights1,3,4(B) Consumer Banking • Net income of $3.1 billion • Revenue of $11.0 billion, up 5% • Average deposits of $951 billion were modestly higher and up 32% from pre-pandemic levels (4Q19); #1 in U.S. Consumer Deposits5 • Average loans and leases of $322 billion, up $7 billion, or 2% • Average Small Business loans grew 5%; #1 Small Business Lender for 19 consecutive quarters5 • Combined credit / debit card spend of $245 billion, up 7% • Client Highlights – Added ~100K net new consumer checking accounts; completed 29 consecutive quarters of net growth – 38.5 million consumer checking accounts; 91% are primary6 – 4.1 million small business checking accounts – $573 billion in consumer investment assets, up 15%7 – $1.1 trillion in payments, up 5%8 – 4.3 billion digital logins; 71% of total sales were digitally-enabled Global Wealth and Investment Management • Net income of $1.3 billion • Revenue of $6.7 billion, up 12%. The increase was driven primarily by higher asset management fees, up 15% to $4.2 billion, reflecting higher market valuations and strong assets under management (AUM) flows • Client balances of $4.6 trillion, up 10%, driven by higher market valuations and positive net client flows • Average loans and leases of $262 billion, up $30 billion, or 13% • Client Highlights – $2.1 trillion of AUM balances, up 14% – Added ~4K net new $500K+ relationships across Merrill and Private Bank – 88% of Merrill and Private Bank clients digitally active Global Banking • Net income of $2.1 billion • Total Corporation investment banking fees (excl. self-led) of $1.8 billion, up 21% • $648 billion in average deposits, up 13% • Average loans and leases increased 5%, with growth across corporate, commercial and business banking • 10% improvement in treasury service charges Global Markets • Net income of $2.0 billion • Sales and trading revenue of $6.4 billion, up 13%, incl. net debit valuation adjustment (DVA) gains of $63 million. Excl. net DVA, up 12%.(E) 16th consecutive quarter of year-over-year growth – Equities revenue up 30% to $2.8 billion, incl. and excl. net DVA(E) – Fixed Income, Currencies and Commodities (FICC) revenue up 2% to $3.5 billion. Excl. net DVA, up 1%(E) From Chair and CEO Brian Moynihan: Earnings per share rose 25% year-over-year, starting 2026 with strong momentum. Net income of $8.6 billion reflected the team’s disciplined execution. The team produced 290 basis points of operating leverage. This resulted in strong year-over- year improvement in returns on equity and assets. Revenue growth of 7% year-over-year included net interest income that was better than we expected, up 9%, as well as double-digit growth in sales and trading revenue, investment banking fees and asset management fees. We remain watchful of evolving risks. However, we saw healthy client activity, including solid consumer spending and stable asset quality, indicating a resilient American economy. Bank of America Reports 1Q26 Net Income of $8.6 Billion; EPS of $1.11, Up 25% YoY 1Q26 Revenue Up 7% YoY to $30.3 Billion,1 Net Interest Income Grew 9% YoY to $15.7 Billion ($15.9 Billion FTE)(A) Operating Leverage of 2.9%2 See page 10 for endnotes. Amounts may not total due to rounding. 1 Revenue, net of interest expense. 2 Operating leverage calculated as the year-over-year percentage change in revenue, net of interest expense, less the percentage change in noninterest expense. 3 Financial Highlights and Business Segment Highlights are compared to the year-ago quarter unless noted. 4 The Corporation reports the results of operations of its four business segments and All Other on a fully taxable-equivalent (FTE) basis. 5 Source: Federal Financial Institutions Examination Council (FFIEC) Call Reports, 4Q25. 6 Represents the percentage of consumer checking accounts that are estimated to be the customer’s primary account based on multiple relationship factors (e.g., linked to their direct deposit). 7 End of period. Consumer investment assets include client brokerage assets, deposit sweep balances, brokered CDs, and AUM in Consumer Banking. 8 Total payments represent payments made from Bank of America accounts using credit card, debit card, ACH, wires, billpay, person-to-person, cash and checks. 9 Return on average tangible common shareholders’ equity ratio represents a non-GAAP financial measure. For more information, see page 18. 10 Tangible book value per common share represents a non-GAAP financial measure. For more information, see page 18. • Net income of $8.6 billion compared to $7.4 billion, up 17% – Diluted earnings per share of $1.11 compared to $0.89, up 25% • Revenue, net of interest expense, of $30.3 billion ($30.4 billion FTE),(A) up 7%, reflected higher net interest income (NII), sales and trading revenue, asset management fees and investmen