10-KPeriod: FY2025

BANK OF AMERICA CORP /DE/ Annual Report, Year Ended Dec 31, 2025

Filed February 25, 2026For Securities:BACBAC-PBBAC-PKBAC-PLBAC-PMBAC-PNBAC-PSBML-PJBAC-PEBAC-PPBAC-PQBACRPBML-PGBML-PHBML-PLBAC-POMER-PK

Summary

Bank of America Corporation (BAC) reported solid financial performance for the fiscal year ending December 31, 2025. Total revenue, net of interest expense, reached $113.1 billion, a notable increase from $105.9 billion in 2024, driven by higher net interest income and robust noninterest income. Net income for the year was $30.5 billion, or $3.81 per diluted share, up from $27.0 billion, or $3.19 per diluted share, in the prior year. This growth was primarily fueled by increased net interest income driven by higher rates and loan growth, alongside stronger performance in investment and brokerage services. The company's balance sheet also expanded, with total assets growing to $3.41 trillion, primarily due to an increase in loans and leases and trading account assets. Deposits saw a healthy rise, reaching $2.02 trillion, indicating continued client confidence and a strong funding base. BAC maintained strong capital ratios, with a Common Equity Tier 1 (CET1) ratio of 11.4% under the Standardized approach, exceeding regulatory requirements. The company also actively returned capital to shareholders through $8.1 billion in common stock dividends and $21.4 billion in common stock repurchases during 2025, reflecting a commitment to shareholder value.

Financial Highlights

34 data points
Beta

Revenue

$113.10B

Net Income

$30.51B

27.0% Net Margin

EPS (Diluted)

$3.81

Total Assets

$3.41T

Cash & Equivalents

$231.84B

Free Cash Flow

$12.61B

Financial Statements
Beta
Revenue$113.10B
Net Income$30.51B
EPS (Basic)$3.86
EPS (Diluted)$3.81
Shares Outstanding (Basic)7.52B
Shares Outstanding (Diluted)7.68B

Key Highlights

  • 1Total Revenue (net of interest expense) increased to $113.1 billion in 2025, up from $105.9 billion in 2024.
  • 2Net Income grew to $30.5 billion in 2025, from $27.0 billion in 2024, with diluted EPS at $3.81 compared to $3.19.
  • 3Net Interest Income rose by $4.0 billion to $60.1 billion, benefiting from higher interest rates and loan growth.
  • 4Noninterest Income increased by $3.2 billion to $53.0 billion, driven by strong performance in investment and brokerage services.
  • 5Total Assets grew to $3.41 trillion, with loans and leases increasing by $89.9 billion.
  • 6Deposits increased by $53.3 billion to $2.02 trillion, primarily driven by growth in commercial client balances.
  • 7Common Equity Tier 1 (CET1) capital ratio remained strong at 11.4% (Standardized approach).
  • 8Shareholder returns included $8.1 billion in dividends and $21.4 billion in common stock repurchases in 2025.

Frequently Asked Questions

Bank of America reported strong financial results for 2025. Total revenue increased to $113.1 billion, driven by higher net interest income and noninterest income. Net income rose to $30.5 billion, or $3.81 per diluted share, reflecting improved profitability across key segments.

Net interest income increased by $4.0 billion to $60.1 billion in 2025 compared to 2024. This growth was primarily attributed to higher net interest yield driven by loan and deposit growth, as well as beneficial repricing of fixed assets, partially offset by the impact of lower interest rates and fewer interest accrual days.

Noninterest income increased by $3.2 billion to $53.0 billion in 2025. Key drivers included a $2.2 billion increase in investment and brokerage services, primarily due to higher asset management fees from increased market valuations and AUM flows, and higher brokerage fees from increased client activity. Investment banking fees also contributed positively, rising by $444 million.

Bank of America maintained strong capital levels, with a CET1 capital ratio of 11.4% under the Standardized approach as of December 31, 2025, exceeding regulatory requirements. The company returned capital to shareholders through $8.1 billion in common stock dividends and $21.4 billion in common stock repurchases during 2025, demonstrating a balanced approach to capital management and shareholder returns.