01—Abstract
Summary
Summary of the 10-Q filed May 1, 2026. Cited figures are marked; the original filing is the authoritative source.
Bank of America Corporation reported a strong first quarter for 2026, with net income increasing to $8.6 billiona, or $1.11 per diluted share, up from $7.4 billion, or $0.89 per diluted share, in the same period last year.
This growth was primarily driven by a significant increase in net interest income and noninterest income, coupled with a lower provision for credit losses. Total revenue grew to $30.3 billionb, reflecting robust performance across its key segments, particularly Global Wealth & Investment Management and Global Banking.
The company's capital position remains robust, with a Common Equity Tier 1 (CET1) ratio of 11.2% under the Standardized approach at quarter-end. Bank of America also returned capital to shareholders through $7.2 billionc in common stock repurchases and $2.0 billion in common stock dividends during the quarter.
02—Key points
Key Highlights
- Net income increased by 16.6% year-over-year to $8.6 billion ($1.11 per diluted share).
- Total revenue, net of interest expense, increased by 7.2% year-over-year to $30.3 billion.
- Net interest income rose by 9.0% to $15.7 billion, driven by higher net interest income from Global Markets, loan and deposit growth, and asset repricing.
- Noninterest income increased by 5.2% to $14.5 billion, with strong growth in investment and brokerage services and investment banking fees.
- Provision for credit losses decreased by 10.2% to $1.3 billion, indicating improved credit quality.
- Noninterest expense increased by 4.3% to $18.5 billion, attributed to higher revenue-related expenses and business investments.
- The Common Equity Tier 1 (CET1) ratio was 11.2% at March 31, 2026, exceeding regulatory requirements.
03—One dollar
04—Financials
Financial Highlights
Figures from 10-QQ1 FY2026filed May 1, 2026Financial Statements
Q1 FY2026 against Q1 FY2025
| Line item | Q1 FY2026Q1 FY2025 | Change |
|---|---|---|
| Revenue | $30.27B$28.25B | +7.2% |
| Net Income | $8.58B$7.36B | +16.6% |
| EPS (Basic) | $1.12$0.91 | +23.1% |
| EPS (Diluted) | $1.11$0.89 | +24.7% |
| Shares Outstanding (Basic) | 7.26B7.68B | −5.5% |
| Shares Outstanding (Diluted) | 7.42B7.77B | −4.5% |
05—Questions
Frequently Asked Questions
What was Bank of America's net income for the first quarter of 2026?
Bank of America's net income for the first quarter of 2026 was $8.6 billion, or $1.11 per diluted share.
What drove the increase in net interest income?
The increase in net interest income 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.
How did the company manage its capital during the quarter?
Bank of America maintained a strong capital position, with a Common Equity Tier 1 (CET1) ratio of 11.2% at March 31, 2026. The company also returned capital to shareholders by repurchasing $7.2 billion of common stock and paying $2.0 billion in common stock dividends during the quarter.
What is the outlook for credit quality?
The provision for credit losses decreased year-over-year, and net charge-offs also declined. The company noted improvement in credit card asset quality, though it is closely monitoring economic factors such as geopolitical tensions and inflation for potential impacts on credit quality.
06—Continue