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BANK OF AMERICA CORP /DE/ 8-K Report, Financial Results (Apr 15, 2025)

Reports
Earnings & Results·Regulation FD·Exhibits & Filings
Filing Date
Filed April 15, 2025
Period End
April 15, 2025
In the record · 2016–202610-K1110-Q328-K149

BAC filed 11 annual reports (10-K), 32 quarterly reports (10-Q) and 149 current reports (8-K) between 2016 and 2026.

  1. Leadership change8-K · Sep ’22Sep ’22
  2. Leadership change8-K · Oct ’26Oct ’26

01—Abstract

Summary

Summary of the 8-K filed April 15, 2025. Cited figures are marked; the original filing is the authoritative source.

Bank of America reported first-quarter 2025 net income of $7.4 billiona, or $0.90 per diluted share, up from $6.7 billion ($0.76) a year earlier, on total revenue net of interest expense of $27.4 billion, up 6% year over year.

Growth was broad-based: noninterest income rose about 10% to $12.9 billionb, with gains in every business segment, and net interest income rose 3% to $14.4 billion. Sales and trading delivered its 12th consecutive quarter of year-over-year revenue growth, and Equities revenue hit a record $2.2 billion. Noninterest expense rose 3% to $17.8 billion, partly offset by the absence of the $0.7 billion FDIC special assessment that weighed on 1Q24 results.

Credit quality was stable. Provision for credit losses was $1.5 billionc, up from $1.3 billion a year earlier but flat sequentially, and net charge-offs were $1.5 billion, with a net charge-off ratio of 0.54%. The allowance for loan and lease losses stood at 1.20% of loans.

Deposits and lending both grew: average deposits reached $1.96 trilliond (up 3%, seven consecutive quarters of growth) and average loans and leases reached $1.09 trillion (up 4%). Capital remained strong, with a CET1 ratio of 11.8% (Standardized), roughly 100 bps above the 10.7% regulatory minimum, and the company returned $6.5 billion to shareholders through $2.0 billion in dividends and $4.5 billion in buybacks. The Corporation also guided to 2025 net interest income of roughly $15.5-15.7 billion (FTE), a range that assumes 25 bp rate cuts in May, July, September and December.

Management flagged that a 100 bp parallel decline in rates would reduce NII by about $2.2 billion over the next 12 months. Book value per share rose 8% to $36.39 and tangible book value per share rose 9% to $27.12.

The 8-K itself is a routine Item 2.02/7.01 filing that furnishes the earnings release and presentation materials. The filing contains no new litigation, restatement or leadership change.

02—Key points

Key Highlights

  1. Net income of $7.4 billion ($0.90 diluted EPS) vs. $6.7 billion ($0.76) in 1Q24, an EPS increase of 18% year over year
  2. Total revenue, net of interest expense, rose 6% YoY to $27.4 billion, with noninterest income up 10% to $12.9 billion across all business segments
  3. Sales and trading revenue of $5.7 billion (up 11%) marked the 12th consecutive quarter of YoY growth; Equities revenue set a record of $2.2 billion
  4. Credit quality stable: net charge-off ratio 0.54% (flat QoQ), allowance for loan and lease losses at 1.20% of loans, nonperforming loans of $6.1 billion
  5. Strong capital and liquidity: CET1 ratio of 11.8% (Standardized) vs. a 10.7% regulatory minimum; $6.5 billion returned to shareholders in the quarter
  6. Average deposits of $1.96 trillion (up 3%, seventh straight quarter of growth) and average loans of $1.09 trillion (up 4%)
  7. 2025 NII guidance of ~$15.5-15.7 billion (FTE), with a 100 bp parallel rate decline estimated to reduce NII by ~$2.2 billion over 12 months

03—Questions

Frequently Asked Questions

  1. How did Bank of America's 1Q25 earnings compare with a year earlier?

    Net income rose to $7.4 billion from $6.7 billion, and diluted EPS rose to $0.90 from $0.76. Revenue grew 6% to $27.4 billion, driven by noninterest income growth in all segments and higher net interest income. The 1Q24 base also included a $0.7 billion FDIC special assessment that did not recur in 1Q25.

  2. Is Bank of America's credit quality deteriorating?

    Not materially. Net charge-offs were $1.5 billion, flat with 4Q24 and 1Q24, and the net charge-off ratio held at 0.54%. The provision rose to $1.5 billion from $1.3 billion a year ago, mainly reflecting a net reserve build, and nonperforming loans were $6.1 billion, up about $0.1 billion from 4Q24. Credit card loss rates rose seasonally to 4.05%, but delinquencies declined from 4Q24.

  3. How strong is the bank's capital position and how is it returning capital?

    The CET1 ratio was 11.8% under the Standardized approach, about 110 bps above the 10.7% regulatory minimum, and CET1 capital was flat at $201 billion. The company returned $6.5 billion to shareholders in the quarter: $2.0 billion in common dividends and $4.5 billion in share repurchases. Book value per share rose 8% to $36.39.

  4. What is the outlook for net interest income?

    Management guided to 2025 NII of about $15.5-15.7 billion (FTE), against $14.6 billion in 1Q25. The outlook includes the benefit of fixed-rate asset repricing and assumes 25 bp rate cuts in May, July, September and December 2025. Management estimates a 100 bp parallel decline in rates would reduce NII by about $2.2 billion over the next 12 months.

04—Continue

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