Document

As filed with the Securities and Exchange Commission on July 18, 2016

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)




Delaware	1-6523	56-0906609
(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)

(Registrant’s telephone number, including area code)

(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:



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



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



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



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

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 18, 2016, Bank of America Corporation (the "Corporation") announced financial results for the second quarter ended June 30, 2016, reporting second quarter net income of $4.2 billion or $0.36 per diluted share. A copy of the press release announcing the Corporation's results for the second quarter ended June 30, 2016 (the "Press Release") is attached hereto as Exhibit 99.1 and is incorporated by reference in this Item 2.02. The Press Release is available on the Corporation's website.

The information provided in Item 2.02 of this report, including Exhibit 99.1, shall be deemed to be "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

ITEM 7.01. REGULATION FD DISCLOSURE.

On July 18, 2016, the Corporation will hold an investor conference call and webcast to discuss financial results for the second quarter ended June 30, 2016, including the Press Release and other matters relating to the Corporation.

The Corporation has also made available on its website presentation materials containing certain historical and forward-looking information relating to the Corporation (the "Presentation Materials") and materials that contain additional information about the Corporation's financial results for the quarter ended June 30, 2016 (the "Supplemental Information"). The Presentation Materials and the Supplemental Information are furnished herewith as Exhibit 99.2 and Exhibit 99.3, respectively, and are incorporated by reference in this Item 7.01. All information in Exhibits 99.2 and 99.3 is presented as of the particular date or dates referenced therein, and the Corporation does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

The information provided in Item 7.01 of this report, including Exhibits 99.2 and 99.3, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall the information or Exhibits 99.2 or 99.3 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

Exhibit 99.1 is filed herewith. Exhibits 99.2 and 99.3 are furnished herewith.




EXHIBIT NO.		DESCRIPTION OF EXHIBIT

99.1		The Press Release

99.2		The Presentation Materials

99.3		The Supplemental Information

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.




BANK OF AMERICA CORPORATION

By:		/s/ Rudolf A. Bless
		Rudolf A. Bless
		Chief Accounting Officer

Dated: July 18, 2016




EXHIBIT NO.		DESCRIPTION OF EXHIBIT

99.1		The Press Release

99.2		The Presentation Materials

99.3		The Supplemental Information

Bank of America Reports Second-Quarter 2016 Financial Results 1 Financial Highlights1,2 Business Segment Highlights1 Consumer Banking Global Wealth and Investment Management Global Banking Global Markets CEO Commentary Effective April 1, 2016, to align the company's business segments to how it now manages the business, Bank of America eliminated the Legacy Assets and Servicing segment and now reports results under the following business segments: Consumer Banking, Global Wealth and Investment Management, Global Banking and Global Markets, with the remaining operations recorded in All Other. Prior results have been reclassified to conform to this presentation. For more information, see the the Company's 8-K filed on July 12. 1 Financial Highlights and Business Segment Highlights compare to the year-ago quarter unless noted. Loan and deposit balances are shown on an end-of-period basis. 2 Fully taxable-equivalent (FTE) basis for the Corporation is a non-GAAP financial measure. See endnote (A) for more information. 3 Combined consumer credit/debit spending, including GWIM, excludes the impact of portfolio divestitures. Including divestitures, combined spending was up 2%. • Loans up $14.9 billion, deposits up $45.3 billion1 • Brokerage assets up 8% • Mobile banking active users up 15% to 20.2 million • Total credit/debit card spending up 4%3 • Revenue, net of interest expense, $20.6 billion (FTE basis),(A) compared to $22.2 billion; reported revenue $20.4 billion, compared to $22.0 billion – Excluding market-related net interest income (NII) adjustments and net debit valuation adjustments (DVA), revenue (FTE) was $21.8 billion, compared to $21.7 billion(A) • NII of $9.2 billion compared to $10.5 billion – Excluding market-related adjustments, NII (FTE) increased to $10.4 billion from $10.0 billion(A) • Noninterest income of $11.2 billion, compared to $11.5 billion • Provision for credit losses of $976 million, compared to $780 million; net charge-offs declined to $985 million from $1.1 billion • Noninterest expense declined $465 million, or 3%, to $13.5 billion • Net income of $4.2 billion and EPS of $0.36, compared to $5.1 billion and $0.43 – Q2-16 includes after-tax negative impacts of $0.6 billion, or $0.05 per share, for market- related NII adjustments, and $0.1 billion, or $0.01 per share, for net DVA – Q2-15 includes $0.4 billion, or $0.04 per share, after-tax positive impact for market-related NII adjustments and $0.1 billion, or $0.01 per share, negative after-tax impact for net DVA Key Performance Metrics • Return on average assets 0.78%; return on average common equity 6.5%; return on average tangible common equity 9.2%(D) – Excluding NII adjustments and net DVA, return on average assets 0.91%, and return on average tangible common equity 10.9%(D) • Book value per share increased 8% to $23.67; tangible book value per share(E) increased 11% to $16.68 • Repurchased $1.4 billion in common stock and paid $0.5 billion in common stock dividends • Total client balances of $2.4 trillion • Loans up $9.1 billion, deposits up $13.4 billion1 • Pretax margin improved to 26% • Long-term AUM flows of $10 billion • Loans up $29.2 billion; deposits up $12.3 billion1 • Ranked No. 3 Global Investment Bank with 6.5% market share(B) • Participated in 9 of 10 top debt and equity underwriting deals(B) • Sales and trading revenue up 14% – Fixed income up 27% – Equities down 8% • Excluding net DVA, sales and trading revenue up 12%(C) – Fixed income up 22%(C) – Equities down 8%(C) Bank of America Reports Q2-16 Net Income of $4.2 Billion, EPS of $0.36 Results Include $0.6 Billion (After Tax), or $0.05 per Share, in Negative Market-Related NII Adjustments and $0.1 Billion (After Tax), or $0.01 per Share, in Negative Net Debit Valuation Adjustments “We had another solid quarter in a challenging environment. Our responsible growth strategy led to improved customer and client activity, and each of our four business segments reported higher earnings than the year-ago quarter. We also moved closer to our longer-term performance targets. We continued to invest in core growth areas and to manage expenses, which were down 3 percent year over year to a level not seen since 2008.” — Brian Moynihan, Chief Executive Officer Balance Sheet Highlights ($ in billions, at end of period) June 30, 2016 March 31, 2016 June 30, 2015 Total assets $2,186.6 $2,185.5 $2,149.0 Total loans and leases 903.2 901.1 881.2 Total deposits 1,216.1 1,217.3 1,149.6 Global Excess Liquidity Sources(F) 515 525 484 Common equity tier 1 capital (transition) 166.2 162.7 158.3 Common equity tier 1 capital (fully phased-in)(G) 161.8 157.5 148.3

Bank of America Reports Second-Quarter 2016 Financial Results 2 CFO Commentary Consumer Banking Three months ended Financial Results1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Net interest income (FTE) $ 5,276 $ 5,272 $ 5,043 Noninterest income 2,588 2,529 2,714 Total revenue (FTE)2 7,864 7,801 7,757 Provision for credit losses 726 531 470 Noninterest expense 4,416 4,538 4,637 Net income $ 1,718 $ 1,729 $ 1,662 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Three months ended Business Highlights1,2 ($ in billions) 6/30/2016 3/31/2016 06/30/2015 Average deposits $ 596.5 $ 578.2 $ 553.0 Average loans and leases 242.9 237.9 230.7 Brokerage assets (EOP) 131.7 126.9 122.0 Total mortgage production4 $ 20.6 $ 16.4 $ 19.2 Mobile banking active users (MM) 20.2 19.6 17.6 Number of financial centers 4,681 4,689 4,789 Efficiency ratio (FTE) 56% 58% 60% Return on average allocated capital 20 20 20 Total U.S. Consumer Credit Card2 New card accounts (MM) 1.31 1.21 1.30 Risk-adjusted margin 8.79% 9.05% 8.89% 1 Comparisons are to the year-ago quarter unless noted. 2 The U.S. consumer card portfolio includes Consumer Banking and GWIM. 3 Source: SNL branch data, U.S. retail deposit market share based on June 2015 FDIC deposit data, adjusted to remove commercial balances. 4 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. "We increased adjusted net interest income year over year in a difficult rate environment by growing deposits and loans within our risk and customer frameworks. That, coupled with a relentless focus on costs, drove improved operating leverage across all four of our business segments. Also, we increased book value per share by 8 percent and tangible book value per share by 11 percent, returned nearly $2 billion in capital to common shareholders this quarter, and announced plans to return more capital through both share repurchases and dividends over the next four quarters." — Paul Donofrio, Chief Financial Officer • Revenue up $107 million to $7.9 billion – NII increased $233 million, reflecting higher deposit and loan balances – Noninterest income decreased due to lower mortgage banking income, lower service charges, and the impact of certain divestitures • Provision for credit losses increased $256 million, driven by a slower pace of portfolio improvement • Noninterest expense down $221 million, due primarily to lower operating expenses; efficiency ratio improved to 56% from 60% • Net income up 3% to $1.7 billion as higher revenue from increased customer activity combined with lower expenses to create positive operating leverage • No. 1 retail deposit market share3 • Average deposit balances grew $43.5 billion, or 8%, and average loan balances grew $12.2 billion, or 5% • Total mortgage and home equity production4 grew $1.4 billion, or 8%, to $20.6 billion • Client brokerage assets grew $9.7 billion, or 8%, to $131.7 billion, driven by new accounts and flows, partially offset by lower market valuations. The number of Merrill Edge households grew 10% to 1.6 million households • Highest level of U.S. consumer credit cards issued since 2008 • 20.2 million mobile banking active users, up 15% • 4,681 financial centers, including 7 new openings during the quarter

Bank of America Reports Second-Quarter 2016 Financial Results 3 Global Wealth and Investment Management Three months ended Financial Results1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Net interest income (FTE) $ 1,434 $ 1,488 $ 1,352 Noninterest income 3,022 2,956 3,215 Total revenue (FTE)2 4,456 4,444 4,567 Provision for credit losses 14 25 15 Noninterest expense 3,288 3,275 3,485 Net income $ 722 $ 724 $ 669 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Three months ended Business Highlights1 ($ in billions) 6/30/2016 3/31/2016 6/30/2015 Average deposits $ 254.8 $ 260.5 $ 240.0 Average loans and leases 141.2 139.1 131.4 Total client balances 2,419.5 2,466.2 2,522.8 Long-term AUM flows 10.1 (0.6) 8.6 Pretax margin 26% 26% 23% Efficiency ratio (FTE) 74 74 76 Return on average allocated capital 22 22 22 1 Comparisons are to the year-ago quarter unless noted. 2 Includes financial advisors in Consumer Banking of 2,248 and 2,048 in Q2-16 and Q2-15. • Revenue down $111 million to $4.5 billion – NII up $82 million, reflecting higher deposit and loan balances – Noninterest income down $193 million, driven by lower market valuations and lower transactional revenue, partially offset by a modest gain on the sale of BofA Global Capital Management's assets under management (AUM) • Noninterest expense down $197 million, or 6%, due to the expiration of fully amortized advisor retention awards and lower revenue-related incentives • Net income up 8% to $722 million as lower expenses more than offset lower revenue to create positive operating leverage • Average deposit balances grew $14.8 billion, or 6% • Average loans and leases grew $9.8 billion, or 7% • Total client balances declined $103.3 billion, or 4%, to $2.4 trillion, driven by the sale of approximately $80 billion in BofA Global Capital Management AUM and lower market valuations, partially offset by positive client balance flows • Long-term AUM flows of $10 billion in Q2-16 • Pretax margin increased to 26% from 23% • Number of wealth advisors increased 2% to 18,1592

Bank of America Reports Second-Quarter 2016 Financial Results 4 Global Banking Three months ended Financial Results1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Net interest income (FTE) $ 2,421 $ 2,481 $ 2,170 Noninterest income2 2,269 1,909 2,066 Total revenue (FTE)2,3 4,690 4,390 4,236 Provision for credit losses 203 553 177 Noninterest expense 2,126 2,171 2,086 Net income $ 1,491 $ 1,054 $ 1,236 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. 3 Revenue, net of interest expense. Three months ended Business Highlights1,2 ($ in billions) 6/30/2016 3/31/2016 6/30/2015 Average deposits $ 298.8 $ 297.1 $ 288.1 Average loans and leases 330.3 324.5 295.4 Total Corp. IB fees (excl. self- led)2 1.4 1.2 1.5 Global Banking IB fees2 0.8 0.6 0.8 Business Lending revenue 2.2 2.1 1.9 Global Transaction Services revenue 1.6 1.6 1.5 Efficiency ratio (FTE) 45% 49% 49% Return on average allocated capital 16 11 14 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. • Revenue increased 11% to $4.7 billion – NII was higher primarily due to increased loan and leasing-related balances – Noninterest income increased 10% due to the impact from loans and related loan hedging activities in the fair value option portfolio, higher leasing and treasury-related revenues, as well as higher advisory fees • Provision for credit losses increased $26 million • Noninterest expense increased modestly due to investments in client-facing professionals in Commercial and Business Banking • Net income increased $255 million to $1.5 billion, as solid revenue growth and continued expense discipline created positive operating leverage • Average loans and leases grew $34.9 billion, or 12% • Average deposit balances grew $10.7 billion, or 4% • Total Corporation investment banking fees of $1.4 billion (excluding self-led deals) declined 8%, driven by lower equity issuance activity, partly offset by higher advisory fees – Ranked No. 3 globally in net investment banking fees with 6.5% market share(B) – Ranked among top 3 globally by volume in high- yield corporate debt, leveraged loans, mortgage- backed securities, asset-backed securities, investment grade corporate debt, syndicated loans, U.S. municipal bonds, announced mergers and acquisitions, and debt capital markets(B) • Return on average allocated capital increased to 16% • Efficiency ratio improved to 45%

Bank of America Reports Second-Quarter 2016 Financial Results 5 Global Markets Three months ended Financial Results1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Net interest income (FTE) $ 1,093 $ 1,180 $ 988 Noninterest income2 3,220 2,767 2,962 Total revenue (FTE)2,3 4,313 3,947 3,950 Net DVA4 (164) 154 (199) Total revenue (excl. net DVA) (FTE)2,3,4 4,477 3,793 4,149 Provision for credit losses (5) 9 6 Noninterest expense 2,582 2,450 2,748 Net income $ 1,116 $ 970 $ 786 Three months ended Business Highlights1,2 ($ in billions) 6/30/2016 3/31/2016 6/30/2015 Average trading-related assets $ 411.3 $ 407.7 $ 442.2 Average loans and leases 69.6 69.3 61.8 Sales and trading revenue 3.5 3.4 3.1 Sales and trading revenue (excl. net DVA)(C) 3.7 3.3 3.3 Global Markets IB fees 0.6 0.5 0.7 Efficiency ratio (FTE) 60% 62% 70% Return on average allocated capital 12 11 9 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. • Revenue up $363 million to $4.3 billion; excluding net DVA4, revenue increased $328 million to $4.5 billion, driven by higher sales and trading results, partially offset by lower equity capital markets investment banking fees • Noninterest expense declined $166 million, or 6%, driven by reduced operating and support costs • Net income increased 42% to $1.1 billion from $786 million, driven by strong sales and trading revenues and continued expense management; excluding net DVA, net income was $1.2 billion, compared to $909 million4 • Sales and trading revenue up $422 million, or 14%, to $3.5 billion • Excluding net DVA, sales and trading revenue up 12% to $3.7 billion, the highest second quarter in five years(C) – FICC increased 22%, due to stronger performance globally across rates and currencies products, higher secondary trading in loans and securitized products as a result of improved credit market conditions, as well as solid performance in municipal bonds from strong retail demand(C) – Equities down 8%, driven by a decline in client activity in Asia, compared to a strong year-ago quarter, which benefited from increased volumes related to stock market rallies in the region(C) • Return on average allocated capital increased to 12%; excluding net DVA, return on average allocated capital increased to 13% 1 Comparisons are to the year-ago quarter unless noted. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. 3 Revenue, net of interest expense. 4 Revenue, excluding net DVA, is a non-GAAP financial measure. See endnote C for more information.

Bank of America Reports Second-Quarter 2016 Financial Results 6 All Other Three months ended Financial Results1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Net interest income (FTE) $ (788) $ (1,035) $ 1,131 Noninterest income 86 180 538 Total revenue (FTE)2 (702) (855) 1,669 Provision for credit losses 38 (121) 112 Noninterest expense 1,081 2,382 1,002 Net income (loss) $ (815) $ (1,797) $ 781 1 Comparisons are to the year-ago quarter unless noted. 2 Revenue, net of interest expense. Note: All Other consists of ALM activities, equity investments, the international consumer card business, non-core mortgage loans and servicing activities, liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments, which is comprised of a portfolio of equity, real estate and other alternative investments. • Revenue declined $2.4 billion, driven by negative market-related NII adjustments versus a positive adjustment in Q2-15 and, to a lesser extent, lower gains on the sale of consumer real estate loans, as well as the absence of a benefit in the representations and warranties provision • Provision for credit losses decreased $74 million to $38 million, driven by continued portfolio improvement • Noninterest expense increased $79 million, due primarily to higher litigation expense • The decline in revenue noted above led to a net loss of $815 million in Q2-16, compared to net income of $781 million in Q2-15

Bank of America Reports Second-Quarter 2016 Financial Results 7 Credit Quality Three months ended Highlights1 ($ in millions) 6/30/2016 3/31/2016 6/30/2015 Provision for credit losses $ 976 $ 997 $ 780 Net charge-offs 985 1,068 1,068 Net charge-off ratio2 0.44% 0.48% 0.49% At period-end Nonperforming loans, leases and foreclosed properties $ 8,799 $ 9,281 $ 11,565 Nonperforming loans, leases and foreclosed properties ratio3 0.98% 1.04% 1.32% Allowance for loan and lease losses $ 11,837 $ 12,069 $ 13,068 Allowance for loan and lease losses ratio4 1.32% 1.35% 1.50% 1 Comparisons are to the year-ago quarter unless noted. 2 Net charge-off ratio is calculated as annualized net charge-offs divided by average outstanding loans and leases during the period. 3 Nonperforming loans, leases and foreclosed properties ratio is calculated as nonperforming loans, leases and foreclosed properties divided by outstanding loans, leases and foreclosed properties at the end of the period. 4 Allowance for loan and lease losses ratio is calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period. Note: Ratios do not include loans accounted for under the fair value option. • Overall credit quality remained strong. Compared to the first quarter of 2016, consumer portfolios continued to improve, and commercial portfolios saw lower net charge-offs and lower energy-related losses • Total net charge-offs declined to $985 million from $1.1 billion in both Q1-16 and Q2-15 – Excluding losses associated with the U.S. Department of Justice settlement and nonperforming loan sales in prior periods, net charge-offs were $1.0 billion in Q2-16, $1.0 billion in Q1-16 and $0.9 billion in Q2-15(H) • The net charge-off ratio decreased to 0.44% from 0.48% in Q1-16 and 0.49% in Q2-15 – Excluding the items noted above, the net charge- off ratio was 0.44% in Q2-16, down from 0.46% in Q1-16 and up from 0.43% in Q2-15 • The provision for credit losses increased to $976 million from $780 million in Q2-15, due to a slower pace of improvement in the consumer portfolio. Compared to the prior quarter, provision for credit losses was down slightly • Net reserve release was $9 million, compared to $71 million in the prior quarter and $288 million in Q2-15, as reserve releases in consumer were mostly offset by increased commercial reserves • Reservable criticized commercial exposures were $18.1 billion in Q2-16, compared to $18.6 billion in Q1-16 and $12.9 billion in Q2-15. The decline from Q1-16 was due to improvements across several industries while energy remained flat. The year-over- year change was due to increases in the energy sector Energy Exposure • Utilized energy exposure declined 3% from the prior quarter and 6% from the year-ago quarter to $21.2 billion, driven mainly by decreases in the lower-risk subsectors – Exposure of $7.6 billion to higher-risk subsectors (Exploration and Production and Oilfield Services) declined 1% and represents less than 1% of total corporation loans and leases • 57% of this utilized exposure is criticized • Energy reserves were unchanged from the prior quarter at $1.0 billion

Bank of America Reports Second-Quarter 2016 Financial Results 8 Balance Sheet, Liquidity and Capital Highlights ($ in billions unless noted) Balance Sheet (end of period) Three months ended 6/30/2016 3/31/2016 6/30/2015 Total assets $ 2,186.6 $ 2,185.5 $ 2,149.0 Total loans and leases 903.2 901.1 881.2 Total deposits 1,216.1 1,217.3 1,149.6 Funding and Liquidity Long-term debt $ 229.6 $ 232.8 $ 243.4 Global Excess Liquidity Sources(F) 515 525 484 Time to required funding (months)(F) 35 36 40 Equity Common shareholders’ equity $ 241.8 $ 238.4 $ 229.4 Common equity ratio 11.1% 10.9% 10.7% Tangible common shareholders’ equity1 $ 170.4 $ 166.8 $ 157.2 Tangible common equity ratio1 8.1% 7.9% 7.6% Per Share Data Common shares outstanding (in billions) 10.22 10.31 10.47 Book value per common share $ 23.67 $ 23.12 $ 21.91 Tangible book value per common share(E) 16.68 16.17 15.02 Regulatory Capital Basel 3 Transition (as reported)2,3 Common equity tier 1 (CET1) capital $ 166.2 $ 162.7 $ 158.3 Risk-weighted assets 1,563 1,587 1,408 CET1 ratio 10.6% 10.3% 11.2% Basel 3 Fully Phased-in2,4 CET1 capital $ 161.8 $ 157.5 $ 148.3 Standardized approach Risk-weighted assets $ 1,416 $ 1,426 $ 1,433 CET1 ratio 11.4% 11.0% 10.3% Advanced approaches5 Risk-weighted assets $ 1,544 $ 1,557 $ 1,427 CET1 ratio 10.5% 10.1% 10.4% Supplementary leverage(I) Bank holding company supplementary leverage ratio (SLR) 6.9% 6.8% 6.3% Bank SLR 7.4 7.4 7.0 Notes: 1 Represents a non-GAAP financial measure. For reconciliation, see pages 17-18 of this press release. 2 Regulatory capital ratios are preliminary. Common equity tier 1 (CET1) capital, risk-weighted assets (RWA) and CET1 ratio as shown on a fully phased-in basis are non- GAAP financial measures. For a reconciliation of CET1 to fully phased-in, see page 13 of this press release. 3 Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy, therefore we used the Advanced approaches at June 30, 2016 and March 31, 2016. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. 4 As previously disclosed, with the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets beginning in the fourth quarter of 2015. 5 Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, BAC did not have regulatory approval for the IMM model.

Bank of America Reports Second-Quarter 2016 Financial Results 9 Endnotes A B C D E F G H I Fully taxable-equivalent (FTE) basis for the Corporation is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 17-18 of this press release. Net interest income on an FTE basis, excluding market-related adjustments, represents a non-GAAP financial measure. Market-related adjustments of premium amortization expense and hedge ineffectiveness were $(974) million and $669 million for the three months ended June 30, 2016 and 2015. Net DVA losses were $164 million and $199 million for the three months ended June 30, 2016 and 2015. Fully phased-in estimates are non-GAAP financial measures. For reconciliation to GAAP financial measures, refer to page 13 of this press release. Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. As previously disclosed, with the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets beginning in the fourth quarter of 2015. Basel 3 Advanced approaches estimates on a fully phased-in basis assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, BAC did not have regulatory approval for the IMM model. Global Excess Liquidity Sources includes cash and high-quality, liquid, unencumbered securities, limited to U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity from the bank or other regulated entities are subject to certain regulatory restrictions. Time to required funding is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of Bank of America Corporation can be met using only the parent company’s Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. We define unsecured contractual obligations for purposes of this metric as maturities of senior or subordinated debt issued or guaranteed by Bank of America Corporation. For the period shown in 2015, we have included in the amount of unsecured contractual obligations the liability, including estimated costs, for the previously announced BNY Mellon private-label securitization settlement. The settlement payment of $8.5 billion was made in the first quarter of 2016. Tangible book value per share of common stock is a non-GAAP financial measure. For more information, refer to pages 17-18 of this press release. Return on average tangible common equity and return on average tangible common equity excluding the negative impact of the market-related adjustments are non-GAAP financial measures. Market-related adjustments for premium amortization expense and hedge ineffectiveness were $(974) million for the three months ended June 30, 2016. For more information, refer to pages 17-18 of this press release. Rankings per Dealogic as of July 1, 2016 for the quarter ended June 30, 2016. Excluding self-led. U.S. municipal bonds ranking per Thomson Reuters as of July 1, 2016. The numerator of the SLR is quarter-end Basel 3 Tier 1 capital reflective of Basel 3 numerator calculated under Basel 3 on a fully phased-in basis. The denominator is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions. Global Markets revenue, excluding net DVA, and sales and trading revenue, excluding net DVA, are non-GAAP financial measures. Net DVA gains (losses) were $(164) million, $154 million and $(199) million for the three months ended June 30, 2016, March 31, 2016 and June 30, 2015, respectively. FICC net DVA gains (losses) were $(160) million and $(200) million for the three months ended June 30, 2016 and 2015. Equities net DVA gains (losses) were $(4) million and $1 million for the three months ended June 30, 2016 and 2015. Represents a non-GAAP financial measure. Adjusted net charge-offs exclude Department of Justice (DoJ) settlement impacts of $0, $(9) million and $(166) million for the three months ended June 30, 2016, March 31, 2016 and June 30, 2015, respectively, and recoveries/(charge-offs) from nonperforming loan (NPL) sales and other recoveries of $(5) million $(40) million, and $27 million for for the three months ended June 30, 2016, March 31, 2016 and June 30, 2015, respectively.

Bank of America Reports Second-Quarter 2016 Financial Results 10 Contact Information and Investor Conference Call Invitation Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss second- quarter 2016 financial results in a conference call at 8:30 a.m. ET today. The presentation and supporting materials can be accessed on the Bank of America Investor Relations website at http://investor.bankofamerica.com. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is 79795. Please dial in 10 minutes prior to the start of the call. A replay will also be available beginning at noon ET on July 18 through midnight, July 25 by telephone at 1.800.934.4850 (U.S.) or 1.402.220.1178 (international). Investor Call Information Investors May Contact: Lee McEntire, Bank of America, 1.980.388.6780 Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112 Reporters May Contact: Jerry Dubrowski, Bank of America, 1.980.388.2840 jerome.f.dubrowski@bankofamerica.com About Bank of America Bank of America is one of the world's leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 33 million active accounts and more than 20 million mobile active users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange. Forward-Looking Statements Bank of America 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,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent Bank of America's current expectations, plans or forecasts of its future results and revenues, and 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 Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

Bank of America Reports Second-Quarter 2016 Financial Results 11 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 Bank of America's 2015 Annual Report on Form 10-K, and in any of Bank of America's subsequent Securities and Exchange Commission filings: the Company's ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking to distinguish certain aspects of the ACE Securities Corp. v. DB Structured Products, Inc. (ACE) decision or to assert other claims seeking to avoid the impact of the ACE decision; the possibility that the Company could face increased servicing, securities, fraud, indemnity, contribution or other claims from one or more counterparties, including trustees, purchasers of loans, underwriters, issuers, other parties involved in securitizations, monolines or private-label and other investors; the possibility that future representations and warranties losses may occur in excess of the Company’s recorded liability and estimated range of possible loss for its representations and warranties exposures; the possibility that the Company may not collect mortgage insurance claims; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory proceedings, including the possibility that amounts may be in excess of the Company’s recorded liability and estimated range of possible loss for litigation exposures; the possible outcome of LIBOR, other reference rate and foreign exchange inquiries and investigations; 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 Company’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, (including negative interest rates), currency exchange rates and economic conditions; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior and other uncertainties; the impact on the Company’s business, financial condition and results of operations of a potential higher interest rate environment; the impact on the Company’s business, financial condition and results of operations from a protracted period of lower oil prices; or ongoing volatility with respect to oil prices; our ability to achieve anticipated cost savings; adverse changes to the Company’s credit ratings from the major credit rating agencies; estimates of the fair value of certain of the Company’s assets and liabilities; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements, including the potential adoption of total loss-absorbing capacity requirements; the potential for payment protection insurance exposure to increase as a result of Financial Conduct Authority actions; the impact of recently proposed U.K. tax law changes including a further limitation on how much net operating losses can offset annual profits and a reduction to the U.K. corporate tax rate which, if enacted, will result in a tax charge upon enactment; the possible impact of Federal Reserve actions on the Company’s capital plans; the possible impact of regulatory determinations regarding the Company’s failure to remediate deficiencies identified by banking regulators in the Corporation's Recovery and Resolution plans; the impact of implementation and compliance with new and evolving U.S. and international regulations, including, but not limited to, recovery and resolution planning requirements, the Volcker Rule and derivatives regulations; a failure in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber attacks; the impact on the Company's business, financial condition and results of operations from the potential exit of the United Kingdom from the European Union; and other similar matters. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. BofA Global Capital Management Group, LLC (BofA Global Capital Management) is an asset management division of Bank of America Corporation. BofA Global Capital Management entities furnish investment management services and products for institutional and individual investors. Bank of America Merrill Lynch is the marketing name for the Global Banking and Global Markets businesses of Bank of America Corporation. Lending, derivatives and other commercial banking activities are performed by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, financial advisory and other investment banking activities are performed by investment banking affiliates of Bank of America Corporation (Investment Banking Affiliates), including Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are registered broker-dealers and members of FINRA and SIPC. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. Bank of America Corporation's broker-dealers are not banks and are separate legal entities from their bank affiliates. The obligations of the broker- dealers are not obligations of their bank affiliates (unless explicitly stated otherwise), and these bank affiliates are not responsible for securities sold, offered or recommended by the broker-dealers. The foregoing also applies to other non-bank affiliates. For more Bank of America news, visit the Bank of America newsroom at http://newsroom.bankofamerica.com. www.bankofamerica.com

This information is preliminary and based on company data available at the time of the presentation. 12 Bank of America Corporation and Subsidiaries Selected Financial Data (Dollars in millions, except per share data; shares in thousands) Summary Income Statement Six Months Ended June 30 Second Quarter 2016 First Quarter 2016 Second Quarter 20152016 2015 Net interest income $ 18,384 $ 19,872 $ 9,213 $ 9,171 $ 10,461 Noninterest income 21,526 22,998 11,185 10,341 11,495 Total revenue, net of interest expense 39,910 42,870 20,398 19,512 21,956 Provision for credit losses 1,973 1,545 976 997 780 Noninterest expense 28,309 29,785 13,493 14,816 13,958 Income before income taxes 9,628 11,540 5,929 3,699 7,218 Income tax expense 2,716 3,309 1,697 1,019 2,084 Net income $ 6,912 $ 8,231 $ 4,232 $ 2,680 $ 5,134 Preferred stock dividends 818 712 361 457 330 Net income applicable to common shareholders $ 6,094 $ 7,519 $ 3,871 $ 2,223 $ 4,804 Common shares issued 5,021 3,947 85 4,936 88 Average common shares issued and outstanding 10,296,652 10,503,379 10,253,573 10,339,731 10,488,137 Average diluted common shares issued and outstanding 11,079,939 11,252,417 11,059,167 11,100,067 11,238,060 Summary Average Balance Sheet Total debt securities $ 409,279 $ 384,747 $ 418,748 $ 399,809 $ 386,357 Total loans and leases 896,327 871,699 899,670 892,984 876,178 Total earning assets 1,856,192 1,804,947 1,867,734 1,844,650 1,810,655 Total assets 2,180,763 2,145,307 2,187,909 2,173,618 2,151,966 Total deposits 1,205,873 1,138,801 1,213,291 1,198,455 1,146,789 Common shareholders’ equity 238,645 227,078 240,166 237,123 228,780 Total shareholders’ equity 262,731 248,413 265,144 260,317 251,054 Performance Ratios Return on average assets 0.64% 0.77% 0.78% 0.50% 0.96% Return on average common shareholders' equity 5.14 6.68 6.48 3.77 8.42 Return on average tangible common shareholders’ equity (1) 7.34 9.79 9.24 5.41 12.31 Per common share information Earnings $ 0.59 $ 0.72 $ 0.38 $ 0.21 $ 0.46 Diluted earnings 0.56 0.68 0.36 0.21 0.43 Dividends paid 0.10 0.10 0.05 0.05 0.05 Book value 23.67 21.91 23.67 23.12 21.91 Tangible book value (1) 16.68 15.02 16.68 16.17 15.02 June 30 2016 March 31 2016 June 30 2015 Summary Period-End Balance Sheet Total debt securities $ 411,949 $ 400,311 $ 392,379 Total loans and leases 903,153 901,113 881,196 Total earning assets 1,860,557 1,861,868 1,801,859 Total assets 2,186,609 2,185,498 2,149,034 Total deposits 1,216,091 1,217,261 1,149,560 Common shareholders’ equity 241,849 238,434 229,386 Total shareholders’ equity 267,069 262,776 251,659 Common shares issued and outstanding 10,216,781 10,312,660 10,471,837 Credit Quality Six Months Ended June 30 Second Quarter 2016 First Quarter 2016 Second Quarter 20152016 2015 Total net charge-offs $ 2,053 $ 2,262 $ 985 $ 1,068 $ 1,068 Net charge-offs as a percentage of average loans and leases outstanding (2) 0.46% 0.53% 0.44% 0.48% 0.49% Provision for credit losses $ 1,973 $ 1,545 $ 976 $ 997 $ 780 June 30 2016 March 31 2016 June 30 2015 Total nonperforming loans, leases and foreclosed properties (3) $ 8,799 $ 9,281 $ 11,565 Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties (2) 0.98% 1.04% 1.32% Allowance for loan and lease losses $ 11,837 $ 12,069 $ 13,068 Allowance for loan and lease losses as a percentage of total loans and leases outstanding (2) 1.32% 1.35% 1.50% For footnotes see page 13.

This information is preliminary and based on company data available at the time of the presentation. 13 Bank of America Corporation and Subsidiaries Selected Financial Data (continued) (Dollars in millions) Basel 3 Transition Capital Management June 30 2016 March 31 2016 June 30 2015 Risk-based capital metrics (4, 5): Common equity tier 1 capital $ 166,173 $ 162,732 $ 158,326 Common equity tier 1 capital ratio 10.6% 10.3% 11.2% Tier 1 leverage ratio 8.9 8.7 8.5 Tangible equity ratio (6) 9.2 9.0 8.6 Tangible common equity ratio (6) 8.1 7.9 7.6 Regulatory Capital Reconciliations (4, 5, 7) June 30 2016 March 31 2016 June 30 2015 Regulatory capital – Basel 3 transition to fully phased-in Common equity tier 1 capital (transition) $ 166,173 $ 162,732 $ 158,326 Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition (3,496) (3,764) (5,706) Accumulated OCI phased in during transition 359 (117) (1,884) Intangibles phased in during transition (907) (983) (1,751) Defined benefit pension fund assets phased in during transition (378) (381) (476) DVA related to liabilities and derivatives phased in during transition 104 76 384 Other adjustments and deductions phased in during transition (24) (54) (587) Common equity tier 1 capital (fully phased-in) $ 161,831 $ 157,509 $ 148,306 Risk-weighted assets – As reported to Basel 3 (fully phased-in) Basel 3 Standardized approach risk-weighted assets as reported $ 1,398,610 $ 1,405,748 $ 1,407,891 Changes in risk-weighted assets from reported to fully phased-in 17,689 20,104 25,460 Basel 3 Standardized approach risk-weighted assets (fully phased-in) $ 1,416,299 $ 1,425,852 $ 1,433,351 Basel 3 Advanced approaches risk-weighted assets as reported $ 1,563,481 $ 1,586,993 n/a Changes in risk-weighted assets from reported to fully phased-in (19,600) (29,710) n/a Basel 3 Advanced approaches risk-weighted assets (fully phased-in) (8) $ 1,543,881 $ 1,557,283 $ 1,427,388 Regulatory capital ratios Basel 3 Standardized approach common equity tier 1 (transition) 11.9% 11.6% 11.2% Basel 3 Advanced approaches common equity tier 1 (transition) 10.6 10.3 n/a Basel 3 Standardized approach common equity tier 1 (fully phased-in) 11.4 11.0 10.3 Basel 3 Advanced approaches common equity tier 1 (fully phased-in) (8) 10.5 10.1 10.4 (1) Return on average tangible common shareholders' equity and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. See Reconciliations to GAAP Financial Measures on pages 17-18. (2) Ratios do not include loans accounted for under the fair value option. Charge-off ratios are annualized for the quarterly presentation. (3) Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate; purchased credit-impaired loans even though the customer may be contractually past due, nonperforming loans held-for-sale, nonperforming loans accounted for under the fair value option and nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010. (4) Regulatory capital ratios are preliminary. (5) Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is required to report regulatory capital risk-weighted assets and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy; therefore, we used the Advanced approaches at June 30, 2016 and March 31, 2016. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. (6) Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. See Reconciliations to GAAP Financial Measures on pages 17-18. (7) Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above. (8) Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, the Corporation did not have regulatory approval for the IMM model. n/a = not applicable Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 14 Bank of America Corporation and Subsidiaries Quarterly Results by Business Segment and All Other (Dollars in millions) Second Quarter 2016 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense (FTE basis) (1) $ 7,864 $ 4,456 $ 4,690 $ 4,313 $ (702) Provision for credit losses 726 14 203 (5) 38 Noninterest expense 4,416 3,288 2,126 2,582 1,081 Net income (loss) 1,718 722 1,491 1,116 (815) Return on average allocated capital (2) 20% 22% 16% 12% n/m Balance Sheet Average Total loans and leases $ 242,921 $ 141,181 $ 330,273 $ 69,620 $ 115,675 Total deposits 596,474 254,804 298,805 34,518 28,690 Allocated capital (2) 34,000 13,000 37,000 37,000 n/m Period end Total loans and leases $ 247,122 $ 142,633 $ 330,709 $ 70,766 $ 111,923 Total deposits 599,457 250,976 304,577 33,506 27,575 First Quarter 2016 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense (FTE basis) (1) $ 7,801 $ 4,444 $ 4,390 $ 3,947 $ (855) Provision for credit losses 531 25 553 9 (121) Noninterest expense 4,538 3,275 2,171 2,450 2,382 Net income (loss) 1,729 724 1,054 970 (1,797) Return on average allocated capital (2) 20% 22% 11% 11% n/m Balance Sheet Average Total loans and leases $ 237,908 $ 139,099 $ 324,531 $ 69,283 $ 122,163 Total deposits 578,196 260,482 297,134 35,886 26,757 Allocated capital (2) 34,000 13,000 37,000 37,000 n/m Period end Total loans and leases $ 240,591 $ 139,690 $ 329,485 $ 73,446 $ 117,901 Total deposits 597,800 260,565 298,072 34,403 26,421 Second Quarter 2015 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense (FTE basis) (1) $ 7,757 $ 4,567 $ 4,236 $ 3,950 $ 1,669 Provision for credit losses 470 15 177 6 112 Noninterest expense 4,637 3,485 2,086 2,748 1,002 Net income 1,662 669 1,236 786 781 Return on average allocated capital (2) 20% 22% 14% 9% n/m Balance Sheet Average Total loans and leases $ 230,704 $ 131,364 $ 295,405 $ 61,819 $ 156,886 Total deposits 552,973 239,974 288,117 39,051 26,674 Allocated capital (2) 33,000 12,000 35,000 35,000 n/m Period end Total loans and leases $ 232,271 $ 133,499 $ 301,558 $ 65,962 $ 147,906 Total deposits 554,204 237,624 292,261 38,751 26,720 (1) Fully taxable-equivalent (FTE) basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (2) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 15 Bank of America Corporation and Subsidiaries Year-to-Date Results by Business Segment and All Other (Dollars in millions) Six Months Ended June 30, 2016 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense (FTE basis) (1) $ 15,665 $ 8,900 $ 9,080 $ 8,260 $ (1,557) Provision for credit losses 1,257 39 756 4 (83) Noninterest expense 8,954 6,563 4,297 5,032 3,463 Net income (loss) 3,447 1,446 2,545 2,086 (2,612) Return on average allocated capital (2) 20% 22% 14% 11% n/m Balance Sheet Average Total loans and leases $ 240,414 $ 140,140 $ 327,402 $ 69,452 $ 118,919 Total deposits 587,335 257,643 297,969 35,202 27,724 Allocated capital (2) 34,000 13,000 37,000 37,000 n/m Period end Total loans and leases $ 247,122 $ 142,633 $ 330,709 $ 70,766 $ 111,923 Total deposits 599,457 250,976 304,577 33,506 27,575 Six Months Ended June 30, 2015 Consumer Banking GWIM Global Banking Global Markets All Other Total revenue, net of interest expense (FTE basis) (1) $ 15,472 $ 9,077 $ 8,622 $ 8,141 $ 1,996 Provision for credit losses 1,139 38 273 27 68 Noninterest expense 9,369 6,974 4,235 5,909 3,298 Net income (loss) 3,118 1,297 2,583 1,450 (217) Return on average allocated capital (2) 19% 22% 15% 8% n/m Balance Sheet Average Total loans and leases $ 230,533 $ 129,275 $ 289,876 $ 59,224 $ 162,791 Total deposits 545,770 241,758 287,280 39,169 24,824 Allocated capital (2) 33,000 12,000 35,000 35,000 n/m Period end Total loans and leases $ 232,271 $ 133,499 $ 301,558 $ 65,962 $ 147,906 Total deposits 554,204 237,624 292,261 38,751 26,720 (1) Fully taxable-equivalent (FTE) basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (2) Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently. n/m = not meaningful Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 16 Bank of America Corporation and Subsidiaries Supplemental Financial Data (Dollars in millions) Fully taxable-equivalent (FTE) basis data (1) Six Months Ended June 30 SecondQuarter 2016 First Quarter 2016 Second Quarter 20152016 2015 Net interest income $ 18,822 $ 20,310 $ 9,436 $ 9,386 $ 10,684 Total revenue, net of interest expense 40,348 43,308 20,621 19,727 22,179 Net interest yield 2.04% 2.27% 2.03% 2.05% 2.37% Efficiency ratio 70.16 68.77 65.43 75.11 62.93 Other Data June 30 2016 March 31 2016 June 30 2015 Number of financial centers - U.S. 4,681 4,689 4,789 Number of branded ATMs - U.S. 15,998 16,003 15,992 Ending full-time equivalent employees 210,516 213,183 216,679 (1) FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. See Reconciliations to GAAP Financial Measures on pages 17-18. Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 17 Bank of America Corporation and Subsidiaries Reconciliations to GAAP Financial Measures (Dollars in millions) The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more meaningful picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds. The Corporation may present certain key performance indicators and ratios excluding certain items (e.g., market-related adjustments on net interest income, debit valuation adjustments, charge-offs related to the settlement with the DoJ) which result in non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Tangible equity represents an adjusted shareholders' equity or common shareholders' equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents adjusted ending common shareholders' equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation's use of equity. In addition, profitability, relationship and investment models all use return on average tangible shareholders' equity as key measures to support our overall growth goals. See the tables below and on page 18 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the six months ended June 30, 2016 and 2015 and the three months ended June 30, 2016, March 31, 2016 and June 30, 2015. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently. Six Months Ended June 30 Second Quarter 2016 First Quarter 2016 Second Quarter 20152016 2015 Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis Net interest income $ 18,384 $ 19,872 $ 9,213 $ 9,171 $ 10,461 Fully taxable-equivalent adjustment 438 438 223 215 223 Net interest income on a fully taxable-equivalent basis $ 18,822 $ 20,310 $ 9,436 $ 9,386 $ 10,684 Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis Total revenue, net of interest expense $ 39,910 $ 42,870 $ 20,398 $ 19,512 $ 21,956 Fully taxable-equivalent adjustment 438 438 223 215 223 Total revenue, net of interest expense on a fully taxable-equivalent basis $ 40,348 $ 43,308 $ 20,621 $ 19,727 $ 22,179 Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis Income tax expense $ 2,716 $ 3,309 $ 1,697 $ 1,019 $ 2,084 Fully taxable-equivalent adjustment 438 438 223 215 223 Income tax expense on a fully taxable-equivalent basis $ 3,154 $ 3,747 $ 1,920 $ 1,234 $ 2,307 Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity Common shareholders’ equity $ 238,645 $ 227,078 $ 240,166 $ 237,123 $ 228,780 Goodwill (69,756) (69,776) (69,751) (69,761) (69,775) Intangible assets (excluding mortgage servicing rights) (3,584) (4,412) (3,480) (3,687) (4,307) Related deferred tax liabilities 1,684 1,922 1,662 1,707 1,885 Tangible common shareholders’ equity $ 166,989 $ 154,812 $ 168,597 $ 165,382 $ 156,583 Reconciliation of average shareholders’ equity to average tangible shareholders’ equity Shareholders’ equity $ 262,731 $ 248,413 $ 265,144 $ 260,317 $ 251,054 Goodwill (69,756) (69,776) (69,751) (69,761) (69,775) Intangible assets (excluding mortgage servicing rights) (3,584) (4,412) (3,480) (3,687) (4,307) Related deferred tax liabilities 1,684 1,922 1,662 1,707 1,885 Tangible shareholders’ equity $ 191,075 $ 176,147 $ 193,575 $ 188,576 $ 178,857 Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 18 Bank of America Corporation and Subsidiaries Reconciliations to GAAP Financial Measures (continued) (Dollars in millions) Six Months Ended June 30 Second Quarter 2016 First Quarter 2016 Second Quarter 20152016 2015 Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity Common shareholders’ equity $ 241,849 $ 229,386 $ 241,849 $ 238,434 $ 229,386 Goodwill (69,744) (69,775) (69,744) (69,761) (69,775) Intangible assets (excluding mortgage servicing rights) (3,352) (4,188) (3,352) (3,578) (4,188) Related deferred tax liabilities 1,637 1,813 1,637 1,667 1,813 Tangible common shareholders’ equity $ 170,390 $ 157,236 $ 170,390 $ 166,762 $ 157,236 Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity Shareholders’ equity $ 267,069 $ 251,659 $ 267,069 $ 262,776 $ 251,659 Goodwill (69,744) (69,775) (69,744) (69,761) (69,775) Intangible assets (excluding mortgage servicing rights) (3,352) (4,188) (3,352) (3,578) (4,188) Related deferred tax liabilities 1,637 1,813 1,637 1,667 1,813 Tangible shareholders’ equity $ 195,610 $ 179,509 $ 195,610 $ 191,104 $ 179,509 Reconciliation of period-end assets to period-end tangible assets Assets $ 2,186,609 $ 2,149,034 $ 2,186,609 $ 2,185,498 $ 2,149,034 Goodwill (69,744) (69,775) (69,744) (69,761) (69,775) Intangible assets (excluding mortgage servicing rights) (3,352) (4,188) (3,352) (3,578) (4,188) Related deferred tax liabilities 1,637 1,813 1,637 1,667 1,813 Tangible assets $ 2,115,150 $ 2,076,884 $ 2,115,150 $ 2,113,826 $ 2,076,884 Book value per share of common stock Common shareholders’ equity $ 241,849 $ 229,386 $ 241,849 $ 238,434 $ 229,386 Ending common shares issued and outstanding 10,216,781 10,471,837 10,216,781 10,312,660 10,471,837 Book value per share of common stock $ 23.67 $ 21.91 $ 23.67 $ 23.12 $ 21.91 Tangible book value per share of common stock Tangible common shareholders’ equity $ 170,390 $ 157,236 $ 170,390 $ 166,762 $ 157,236 Ending common shares issued and outstanding 10,216,781 10,471,837 10,216,781 10,312,660 10,471,837 Tangible book value per share of common stock $ 16.68 $ 15.02 $ 16.68 $ 16.17 $ 15.02 Certain prior period amounts have been reclassified to conform to current period presentation.

Bank of America 2Q16 Financial Results July 18, 2016

2Q16 Highlights 2 • Net income of $4.2B in 2Q16, or $0.36 per diluted common share – Includes negative market-related net interest income (NII) adjustments of $0.05 per share 1 – Includes negative net debit valuation adjustments (DVA) of $0.01 per share • Revenue of $20.4B ($21.8B, FTE basis, excluding market-related NII adjustments and net DVA 2, 3) – Net interest income of $9.2B  Excluding market-related adjustments, NII of $10.4B (FTE), up $0.4B from 2Q15 2, 3 – Sales and trading revenue of $3.5B, up 14% from 2Q15  Excluding net DVA, sales and trading revenue of $3.7B, up 12% from 2Q15 2 • Noninterest expense of $13.5B (lowest level since 4Q08) declined $0.5B, or 3%, from 2Q15 • Net charge-offs declined to less than $1B • Book value per share of $23.67 and tangible book value per share of $16.68 2 increased 8% and 11% from 2Q15 – Returned nearly $2B in capital to common shareholders in 2Q16, including $1.4B in stock repurchases • Positive operating leverage across the business segments versus 2Q15, reflecting solid customer activity and continued expense management ____________________ 1 See note A on slide 27 for definition of market-related NII adjustments. 2 Represents a non-GAAP financial measure. See slide 29 for important presentation information. 3 Fully taxable equivalent basis (FTE). Represents a non-GAAP financial measure. See slide 29 for important presentation information.

2Q16 Results 3 ____________________ Note: Amounts may not total due to rounding. 1 Reported on a GAAP basis. On an FTE basis, revenue of $20.6B, $19.7B and $22.2B in 2Q16, 1Q16 and 2Q15, respectively. 2 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 3 Reported on a GAAP basis. On an FTE basis, efficiency ratio of 65.4%, 75.1% and 62.9% in 2Q16, 1Q16 and 2Q15, respectively. 4 See note A on slide 27 for definition of market-related NII adjustments. $ in billions, except per share data Summary Income Statement Total revenue, net of interest expense 1 $20.4 $0.9 ($1.6) Noninterest expense 13.5 (1.3) (0.5) Provision for credit losses 1.0 (0.0) 0.2 Net income 4.2 1.6 (0.9) Diluted earnings per common share $0.36 $0.15 ($0.07) Average diluted common shares (in billions) 11.06 (0.04) (0.18) Return Metrics Return on average assets 0.78 % 0.50 % 0.96 % Return on average common shareholders' equity 6.5 3.8 8.4 Return on average tangible common shareholders' equity 2 9.2 5.4 12.3 Efficiency ratio 3 66.1 75.9 63.6 Inc/ (Dec) 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15 • Net income of $4.2B in 2Q16, or $0.36 per diluted common share • Pre-tax results included the following items: – $1.0B negative market-related NII adjustments, or $0.05 per share after-tax 4 – $0.2B negative net debit valuation adjustments, or $0.01 per share after tax

$1,662 $669 $1,236 $786 $781 $1,718 $722 $1,491 $1,116 ($815) Consumer Banking GWIM Global Banking Global Markets All Other 2Q15 2Q16 2Q16 ROAAC 2 22% 16% 12% 20% Business Results 4 Net Income (Loss) ($MM) ____________________ 1 GWIM defined as Global Wealth & Investment Management. 2 ROAAC defined as return on average allocated capital. 3 FTE basis. Net income in business segments of $5.0B, up 16% Efficiency ratio 3 74% 45% 60% 56% +3% +8% +21% +42% 2Q15 2Q16 $669 ($974) Market-related NII adjustments (pre-tax) 1

Balance Sheet, Liquidity and Capital Highlights 5 $ in billions, except per share data Balance Sheet (end of period balances) Total assets $2,186.6 $2,185.5 $2,149.0 Total loans and leases 903.2 901.1 881.2 Total deposits 1,216.1 1,217.3 1,149.6 Funding & Liquidity Long-term debt $229.6 $232.8 $243.4 Global Excess Liquidity Sources 1 515 525 484 Time to Required Funding (in months) 1 35 36 40 Equity Common shareholders' equity $241.8 $238.4 $229.4 Common equity ratio 11.1 % 10.9 % 10.7 % Tangible common shareholders' equity 2 $170.4 $166.8 $157.2 T ngible common equity ratio 2 8.1 % 7.9 % 7.6 % Per Share Data Book value per common share $23.67 $23.12 $21.91 Tangible book value per common share 2 16.68 16.17 15.02 Common shares outstanding (in billions) 10.22 10.31 10.47 2Q16 1Q16 2Q15 ____________________ 1 See note B on slide 27 for definition of Global Excess Liquidity Sources and see note C on slide 27 for definition of Time to Required Funding. 2 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 3 Regulatory capital ratios are preliminary. Common equity tier 1 (CET1) capital, risk-weighted assets (RWA) and CET1 ratio as shown on a fully phased-in basis are non-GAAP financial measures. For important presentation information, see slide 29. For a reconciliation of CET1 transition to fully phased-in, see slide 26. 4 Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital RWA and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy; therefore, we used the Advanced approaches at June 30, 2016 and March 31, 2016. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. 5 Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, BAC did not have regulatory approval for the IMM model. 6 As previously disclosed, with the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets under the Advanced approaches beginning in the fourth quarter of 2015. 7 See note D on slide 27. $ in billions Basel 3 Transition (as reported) 3, 4 Common equity tier 1 capital $166.2 $162.7 $158.3 Risk-weighted assets 1,563 1,587 1,408 CET1 ratio 10.6 % 10.3 % 11.2 % Basel 3 Fully Phased-in 3, 5, 6 Common equity tier 1 capital $161.8 $157.5 $148.3 Standardized approach Risk-weighted assets 1,416 1,426 1,433 CET1 ratio 11.4 % 11.0 % 10.3 % Advanced approaches Risk-weighted assets $1,544 $1,557 $1,427 CET1 ratio 10.5 % 10.1 % 10.4 % Supplementary leverage ratios (SLR) 7 Bank holding company SLR 6.9 % 6.8 % 6.3 % Bank SLR 7.4 7.4 7.0 2Q16 1Q16 2Q15

Loans & Leases and Deposits ($B) ____________________ Note: Amounts may not total due to rounding. $876 $877 $886 $893 $900 $0 $250 $500 $750 $1,000 2Q15 3Q15 4Q15 1Q16 2Q16 553 556 564 578 596 240 244 251 260 255 288 296 308 297 299 66 63 63 63 63 $1,147 $1,159 $1,186 $1,198 $1,213 $0 $250 $500 $750 $1,000 $1,250 2Q15 3Q15 4Q15 1Q16 2Q16 Consumer Banking GWIM Global Banking Other (GM and All Other) 231 233 235 238 243 131 134 137 139 141 295 305 315 325 330 62 66 69 69 70 $719 $738 $756 $771 $784 $0 $200 $400 $600 $800 2Q15 3Q15 4Q15 1Q16 2Q16 Consumer Banking GWIM Global Banking Global Markets 117 101 93 87 82 25 24 22 21 20 10 10 10 10 10 $157 $139 $130 $122 $116 $0 $50 $100 $150 $200 2Q15 3Q15 4Q15 1Q16 2Q16 Residential Home equity Non-U.S. credit card Other Average Total Loans & Leases Average Loans & Leases in All Other Average Total Deposits Average Loans & Leases in Business Segments 6

$1,068 $932 $1,144 $1,068 $985 0.49% 0.43% 0.52% 0.48% 0.44% 0.0% 0.5% 1.0% $0 $300 $600 $900 $1,200 2Q15 3Q15 4Q15 1Q16 2Q16 Net charge-offs Net charge-off ratio ____________________ 1 Represents a non-GAAP financial measure. Adjusted net charge-offs exclude Department of Justice (DoJ) settlement impacts of $0MM, $9MM, $28MM, $53MM and $166MM for 2Q16, 1Q16, 4Q15, 3Q15 and 2Q15, respectively, and recoveries / (charge-offs) from NPL sales and other recoveries of ($5MM), ($40MM), $8MM, $58MM and $27MM for 2Q16, 1Q16, 4Q15, 3Q15 and 2Q15, respectively, and collateral valuation adjustments of $119MM in 4Q15. Asset Quality Trends 7 Net Charge-offs ($MM) Provision for Credit Losses ($MM) $780 $806 $810 $997 $976 $0 $300 $600 $900 $1,200 2Q15 3Q15 4Q15 1Q16 2Q16 • Total reported and adjusted net charge-offs 1 declined $83MM and $39MM versus 1Q16 – Decline in reported net charge-offs driven primarily by lower charge-offs on nonperforming loan (NPL) sales and the absence of DoJ charge-offs in the consumer real estate portfolio – Decline in adjusted net charge-offs due to continued portfolio improvement across most products • Provision of $976MM declined $21MM from 1Q16 $929 $937 $1,005 $1,019 $980 0.43% 0.43% 0.45% 0.46% 0.44% 0.0% 0.5% 1.0% $0 $300 $600 $900 $1,200 2Q15 3Q15 4Q15 1Q16 2Q16 Adjusted net charge-offs Adjusted net charge-off ratio Adjusted Net Charge-offs ($MM) 1

Asset Quality – Consumer Portfolio 8 Consumer Net Charge-offs ($MM) $1,020 $821 $958 $917 $849 0.87% 0.71% 0.84% 0.82% 0.76% 0.0% 0.5% 1.0% 1.5% $0 $300 $600 $900 $1,200 2Q15 3Q15 4Q15 1Q16 2Q16 Credit card Other Net charge-off ratio Consumer Asset Quality Metrics ($MM) 2Q16 1Q16 2Q15 Provis ion $733 $402 $553 Nonperforming loans and leases 6,705 7,247 9,575 Al lowance for loans and leases 6,543 6,758 8,443 % of loans and leases 2 1.45% 1.51% 1.81% # times annual ized NCOs 1.92x 1.83x 2.06x ____________________ 1 Fully-insured loans are FHA-insured loans and other loans individually insured under long-term standby agreements. 2 Excludes loans measured at fair value. Consumer 30+ Days Performing Past Due ($B) 1 11.9 10.5 9.8 8.2 7.4 4.2 4.3 4.3 3.8 3.9 $16.1 $14.8 $14.1 $12.0 $11.3 $0 $5 $10 $15 $20 2Q15 3Q15 4Q15 1Q16 2Q16 Fully-insured Excl. fully-insured • Consumer net charge-offs decreased $68MM compared to 1Q16, driven primarily by fewer losses on NPL sales, lower credit card losses and seasonally lower consumer vehicle lending losses • Provision expense increased $331MM compared to 1Q16, due to a slower pace of credit improvement across the consumer portfolios • NPLs declined $542MM compared to 1Q16, driven primarily by consumer real estate NPL sales and portfolio improvement – 40% of consumer NPLs are current • Allowance for loans and leases of $6.5B provides 1.45% coverage of loans and leases – Allowance covers 1.92x current period annualized net charge- offs compared to 1.83x in 1Q16

Asset Quality – Commercial Portfolio 9 Commercial Net Charge-offs ($MM) $48 $111 $186 $151 $136 0.05% 0.11% 0.17% 0.14% 0.12% 0.0% 0.1% 0.2% 0.3% $0 $100 $200 2Q15 3Q15 4Q15 1Q16 2Q16 C&I Small Business and Other Net charge-off ratio Commercial Asset Quality Metrics ($MM) 2Q16 1Q16 2Q15 Provis ion $243 $595 $227 Nonperforming loans and leases 1,659 1,603 1,172 Reservable cri ticized uti l i zed exposure 18,087 18,577 12,932 Al lowance for loans and leases 5,294 5,311 4,625 % of loans and leases 2 1.19% 1.19% 1.13% # times annual ized NCOs 9.67x 8.72x 24.14x • Commercial net charge-offs decreased $15MM from 1Q16, driven primarily by lower Energy-related losses – Energy net charge-offs of $79MM decreased $23MM • Provision expense declined $352MM from 1Q16, as the prior quarter included a significant reserve build for Energy – Energy reserves remain unchanged at $1.0B • NPLs increased $56MM from 1Q16, driven by increases in Energy • Reservable criticized utilized exposure decreased $0.5B from 1Q16, with improvements across several industries, while Energy and Metals & Mining remained relatively flat vs. 1Q16 • Utilized Energy exposure of $21.2B decreased $0.6B from 1Q16, due mainly to decreases in the lower-risk sub-sectors – Exposure of $7.6B to higher risk sub-sectors (E&P and OFS) 1 declined 1% and represents <1% of total loans and leases  57% of this utilized exposure is criticized ____________________ 1 E&P defined as Exploration & Production and OFS defined as Oil Field Services. 2 Excludes loans measured at fair value. Nonperforming Loans and Leases ($B) 0.9 0.8 0.7 0.9 0.9 0.3 0.3 0.5 0.7 0.8 $1.2 $1.1 $1.2 $1.6 $1.7 $0 $1 $2 2Q15 3Q15 4Q15 1Q16 2Q16 Th o u sa n d s Non-Energy Energy

Net Interest Income 10 • Net interest income (NII) of $9.2B includes negative market- related adjustments of $1.0B – 1Q16 included negative market-related adjustments of $1.2B – 2Q15 included positive market-related adjustments of $0.7B • Excluding market-related adjustments, net interest income of $10.4B (FTE basis) 2, 3 – Decreased $0.2B from 1Q16, driven primarily by lower long- end rates and seasonal impacts to loan yields – Increased $0.4B from 2Q15, driven primarily by higher short- end rates and an increase in commercial loans funded by strong deposit growth, partially offset by lower long-end rates • We remain well positioned for NII to benefit as rates move higher – +100 bps parallel shift in interest rate yield curve is estimated to benefit NII by $7.5B over the next 12 months 4 – Asset sensitivity increased from prior quarter, driven primarily by decreases in long-end rates ____________________ 1 FTE basis. 2 Represents a non-GAAP financial measure. 3 Excludes market-related NII adjustments of premium amortization and hedge ineffectiveness of ($1.0B), ($1.2B), $0.1B, ($0.6B) and $0.7B for 2Q16, 1Q16, 4Q15, 3Q15 and 2Q15, respectively, as well as previously announced $0.6B reduction for certain subordinated notes related to trust preferred securities recorded in 4Q15. See note A on slide 27 for definition of market-related NII adjustments. 4 NII asset sensitivity represents banking book positions. Reported NII ($B) NII (FTE) Excluding Market-related and Other Adjustments ($B) 1, 2, 3 $10.5 $9.5 $9.8 $9.2 $9.2 2.37% 2.10% 2.15% 2.05% 2.03% 0% 1% 2% 3% 4% $0 $3 $6 $9 $12 2Q15 3Q15 4Q15 1Q16 2Q16 Net interest income Net interest yield $10.0 $10.3 $10.5 $10.6 $10.4 2.22% 2.22% 2.26% 2.31% 2.24% 0% 1% 2% 3% 4% $0 $3 $6 $9 $12 2Q15 3Q15 4Q15 1Q16 2Q16 Net interest income Net interest yield 1

Expense Highlights ____________________ Note: Amounts may not total due to rounding. • Total noninterest expense of $13.5B in 2Q16 declined $0.5B, or 3%, from 2Q15 – Decline versus 1Q16 driven primarily by the absence of annual retirement-eligible incentive costs of $0.9B and seasonally elevated payroll tax costs of $0.3B • Personnel costs declined 2% from 2Q15, reflecting lower incentive compensation, as well as progress in reducing legacy mortgage- related servicing costs • Non-personnel costs decreased 5% from 2Q15, driven by a reduction in operating and support costs across most categories • Litigation expense of $270MM in 2Q16 versus $388MM in 1Q16 and $175MM in 2Q15 • FTE headcount down 3% from 2Q15 as reductions in support staff and operations more than offset increases in client-facing professionals Noninterest Expense ($B) Full-time Equivalent Employees (FTEs, 000's) 11 217 215 213 213 211 125 175 225 2Q15 3Q15 4Q15 1Q16 2Q16 7.9 7.8 7.5 8.9 7.7 6.1 6.1 6.5 6.0 5.8 $14.0 $13.9 $14.0 $14.8 $13.5 $0 $4 $8 $12 $16 2Q15 3Q15 4Q15 1Q16 2Q16 Personnel Non-personnel

Consumer Banking 12 ____________________ 1 FTE basis. 2 Cost of deposits calculated as annualized noninterest expense as a percentage of total average deposits within the Deposits subsegment. 3 Includes portfolios in Consumer Banking and GWIM. 4 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. • [ Bullets to come ] • Net income of $1.7B, up 3% from 2Q15; ROAAC of 20% • Revenue of $7.9B increased 1% from 2Q15 – NII improvement driven by increased deposit and loan growth – Noninterest income decreased due to lower mortgage banking income, service charges and the impact of certain divestitures • Provision increased from 2Q15, driven by a slower pace of portfolio improvement • Noninterest expense decreased 5% from 2Q15, driven by lower operating expenses from improved efficiency and automation – Efficiency ratio improved to 56% from 60% • Average deposits of $596B grew $44B, or 8%, from 2Q15 – Cost of deposits declined to 1.62% • Average loans and leases of $243B grew $12B, or 5%, from 2Q15 • Total mortgage and home equity production of $20.6B, up $1.4B from 2Q15 4 – First mortgage production pipeline is up 11% from 1Q16 and up 34% from 2Q15 • Client brokerage assets of $132B, grew $10B from 2Q15, driven by new accounts and flows, partially offset by market valuations; Merrill Edge households increased 10% from 2Q15 to 1.6MM • Combined debit and credit spending up 2% from 2Q15; up 4% adjusted for the impact of divestitures in prior periods – New U.S. consumer credit card issuance of 1.3MM, highest level since 2008 • Mobile banking active users of 20.2MM, up 15% from 2Q15; 17% of deposit transactions completed through mobile devices $ in millions Net interest income 1 $5,276 $4 $233 Noninterest income 2,588 59 (126) Total revenue, net of interest expense 1 7,864 63 107 Provis ion for credit losses 726 195 256 Noninterest expense 4,416 (122) (221) Income tax expense 1 1,004 1 16 Net income $1,718 ($11) $56 Selected revenue items ($ in millions) Card income $1,216 $1,211 $1,207 Service charges 1,011 997 1,033 Mortgage banking income 267 190 359 Key Indicators ($ in billions) Average depos its $596.5 $578.2 $553.0 Rate paid on depos its 0.04 % 0.04 % 0.05 % Cost of depos its 2 1.62 1.73 1.76 Average loans and leases $242.9 $237.9 $230.7 Cl ient brokerage assets 131.7 126.9 122.0 Mobi le banking active users (MM) 20.2 19.6 17.6 Number of financia l centers 4,681 4,689 4,789 Combined credit / debit purchase volumes 3 $128.8 $120.3 $126.7 Total U.S. consumer credit card risk-adjusted margin 3 8.79 % 9.05 % 8.89 % Return on average a l located api a l (ROAAC) 20 20 20 Al located capita l $34 $34 $33 Efficiency ratio 1 56 % 58 % 60 % Inc/(Dec) 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15

Consumer Banking Trends 13 • #1 U.S. Retail Deposit Market Share 1 • #1 Home Equity Lender (Inside Mortgage Finance ‘15) • #2 bank in J.D. Power 2015 U.S. Primary Mortgage Origination Satisfaction Study • #3 in U.S. Credit Card Balances 2 • #1 in Prime Auto Credit mix among peers 3 • #2 Small Business Lender (FDIC ‘15) ____________________ Note: Amounts may not total due to rounding. 1 Source: SNL branch data. U.S. retail deposit market share based on June 2015 FDIC deposit data, adjusted to remove commercial balances. 2 Source: Competitor 1Q16 earnings releases. 3 Largest percentage of 740+ Scorex customers among key competitors as of January 2016. Source: Total Units Experian Autocount Risk Loan Analysis Scorex + (Loans, New & Used, Franchised Dealers). 4 FTE basis. 5 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. Leading Consumer Franchise – 88% primary checking accounts 554 558 578 598 599 232 235 239 241 247 122 117 123 127 132 $908 $910 $939 $965 $978 $0 $250 $500 $750 $1,000 2Q15 3Q15 4Q15 1Q16 2Q16 Deposits Loans and leases Client brokerage assets Consumer Client Balances (EOP, $B) 5.0 5.1 5.2 5.3 5.3 2.7 2.9 2.8 2.5 2.6 $7.8 $8.0 $7.9 $7.8 $7.9 $0 $3 $6 $9 2Q15 3Q15 4Q15 1Q16 2Q16 Net interest income Noninterest income 84 85 86 84 84 40 42 43 45 48 51 50 49 48 48 36 38 40 43 46 18 18 18 18 18 $231 $233 $235 $238 $243 $0 $50 $100 $150 $200 $250 2Q15 3Q15 4Q15 1Q16 2Q16 U.S. consumer credit card Consumer vehicle lending Home equity Residential mortgage Other Average Loans and Leases ($B) 16.0 13.7 13.5 12.6 16.3 3.2 3.1 3.5 3.8 4.3 $19.2 $16.9 $17.0 $16.4 $20.6 $0 $6 $12 $18 $24 2Q15 3Q15 4Q15 1Q16 2Q16 Residential mortgage loans Home equity Total Mortgage Production ($B) 5 $4.6 $4.7 $4.6 $4.5 $4.4 60% 59% 58% 58% 56% 40% 60% 80% $0 $1 $2 $3 $4 $5 2Q15 3Q15 4Q15 1Q16 2Q16 Th o u sa n d s Noninterest expense Efficiency ratio Total Expense ($B) and Efficiency 4 4 Total Revenue ($B) 4 4 4

Digital Banking Trends 31.4 31.6 31.7 32.6 33.0 0 10 20 30 40 2Q15 3Q15 4Q15 1Q16 2Q16 Digital Appointments (000’s) $235 $229 $233 $237 $246 $100 $150 $200 $250 2Q15 3Q15 4Q15 1Q16 2Q16 Digital Transfers and Bill Payments ($B) 17.6 18.4 18.7 19.6 20.2 13% 14% 15% 16% 17% 0% 10% 20% 30% 0 5 10 15 20 25 2Q15 3Q15 4Q15 1Q16 2Q16 Active mobile users Mobile % of total deposit transactions Active Online Banking Accounts (MM) Active Mobile Users (MM) 120 161 192 263 289 0 50 100 150 200 250 300 2Q15 3Q15 4Q15 1Q16 2Q16 Th o u sa n d s • #1 in Online Banking Functionality 1 • #1 in Mobile Banking Functionality 2 • #1 in Digital Sales Functionality 3 • Deployed 3,500+ digital ambassadors in financial centers • Digital sales up 12% YoY; represents 18% of total sales – 24% of digital sales through mobile • 2,800 cardless-enabled ATMs (launched in 1Q16) Leading Digital Capabilities ____________________ 1 Source: Keynote, 2Q16 Online Banker Scorecard. 2 Source: Forrester, 2016 US Mobile Banking Functionality Benchmark. 3 Source: Forrester, 2015 US Bank Digital Sales Functionality Benchmark. 4 Represents average number of weekly interactions by channel during 2Q16. 6 10 13 40 72 0 20 40 60 80 Financial center Phone ATM Online Mobile Weekly Channel Usage (MM) 4 14

Global Wealth & Investment Management 15 ____________________ 1 FTE basis. 2 Includes financial advisors in Consumer Banking of 2,248 and 2,048 in 2Q16 and 2Q15. • Net income of $0.7B, up 8% from 2Q15; ROAAC of 22% – Pre-tax margin of 26%, up from 23% in 2Q15 • Revenue of $4.5B, down 2% from 2Q15 – NII increased reflecting the benefits from growth in deposit and loan balances – Noninterest income declined due to lower market valuations and transactional revenue, partially offset by a gain on the sale of BofA Global Capital Management’s assets under management (AUM) • Noninterest expense decreased 6% from 2Q15, due primarily to the expiration of fully amortized advisor retention awards, as well as lower revenue-related incentives • Wealth advisors grew 2.4% from 2Q15 to 18,159 2 • Client balances of $2.4T declined from 1Q16, due to the transfer of ~$80B of BofA Global Capital Management’s AUM – Excluding this transfer, client balances increased $33B, driven by market valuations and long-term AUM flows of $10B • Average deposits of $255B increased $15B, or 6%, from 2Q15; declined $6B, or 2%, from 1Q16, driven primarily by seasonal tax payments • Average loans and leases of $141B increased $10B, or 7%, from 2Q15 and increased $2B, or 1.5%, from 1Q16; 25th consecutive quarter of loan growth $ in millions Net interest income 1 $1,434 ($54) $82 Noninterest income 3,022 66 (193) Total revenue, net of interest expense 1 4,456 12 (111) Provis ion for credit losses 14 (11) (1) Noninterest expense 3,288 13 (197) Income tax expense 1 432 12 34 Net income $722 ($2) $53 Key Indicators ($ in billions) Average depos its $254.8 $260.5 $240.0 Average loans and leases 141.2 139.1 131.4 Net charge-off ratio 0.04 % 0.01 % 0.05 % Long-term AUM flows $10.1 ($0.6) $8.6 Pre-tax margin 26 % 26 % 23 % Return on average a l locat d capita l 22 22 22 Al located capita l $13 $13 $12 Inc/(Dec) 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15

Global Wealth & Investment Management Trends 16 Market Share Positioning Average Loans and Leases ($B) Average Deposits ($B) • #1 U.S. wealth management market position across client assets, deposits and loans 1 • #1 in personal trust assets under management 2 • #1 in Barron’s U.S. high net worth client assets (2015) • #1 in Barron’s Top 1,200 ranked Financial Advisors (2016) and Top 100 Women Advisors (2015) 1,218 1,136 1,154 1,172 1,191 930 877 901 891 832 238 246 261 261 251 137 139 142 143 146 $2,523 $2,398 $2,458 $2,466 $2,419 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 2Q15 3Q15 4Q15 1Q16 2Q16 Other Assets under management Deposits Loans and leases Client Balances (EOP, $B) 4 60 61 62 63 64 42 43 43 43 43 27 28 28 30 30 3 3 3 3 3 $131 $134 $137 $139 $141 $0 $50 $100 $150 2Q15 3Q15 4Q15 1Q16 2Q16 Consumer real estate Securities-based lending Structured lending Credit card / Other ____________________ Note: Amounts may not total due to rounding. 1 Source: Competitor 1Q16 earnings releases. 2 Source: Industry 1Q16 call reports. 3 FTE basis. 4 Other includes brokerage assets and assets in custody. Loans and leases include margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet. BofA Global Capital Management’s AUM were sold in 2Q16. 2.1 2.1 2.1 2.0 2.0 1.1 1.0 1.0 0.9 1.0 1.4 1.4 1.4 1.5 1.4 $4.6 $4.5 $4.4 $4.4 $4.5 $0 $1 $2 $3 $4 $5 2Q15 3Q15 4Q15 1Q16 2Q16 Asset management fees Brokerage / Other Net interest income Revenue ($B) 3 $240 $244 $251 $260 $255 $0 $50 $100 $150 $200 $250 $300 2Q15 3Q15 4Q15 1Q16 2Q16 3

Global Banking 17 ____________________ 1 FTE basis. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. • [ Bullets to come ] • Net income of $1.5B increased 21% from 2Q15; ROAAC of 16% • Revenue grew 11% from 2Q15 – NII improvement driven by increased loans and leasing- related balances – Noninterest income increased due to the impact from loans and related loan hedging activities in the fair value option portfolio, higher leasing and treasury-related revenues, as well as higher advisory fees • Total Corporation investment banking (IB) fees of $1.4B (excl. self-led) declined 8% from 2Q15 and increased 22% from 1Q16 – Ranked #3 in global IB fees with 6.5% market share • Provision increased modestly from 2Q15 and declined $0.4B compared to the prior quarter, as 1Q16 included a significant increase in energy-related reserves • Noninterest expense increased 2% from 2Q15, reflecting investments in client-facing professionals in Commercial and Business Banking • Average loans and leases of $330B increased 12% from 2Q15, driven by growth in C&I, commercial real estate and leasing – Growth of 2% from 1Q16, driven by C&I • Average deposits of $299B grew 4% from 2Q15 and increased modestly versus 1Q16 $ in millions Net interest income 1 $2,421 ($60) $251 Noninterest income 2 2,269 360 203 Total revenue, net of interest expense 1, 2 4,690 300 454 Provis ion for credit losses 203 (350) 26 Noninterest expense 2,126 (45) 40 Income tax expense 1 870 258 133 Net income $1,491 $437 $255 Selected Revenue Items ($ in millions) Total Corporation IB fees (excl . sel f-led) 2 $1,408 $1,153 $1,526 Global Banking IB fees 2 799 636 777 Bus iness Lending revenue 2,217 2,115 1,935 Global Transaction Services revenue 1,582 1,585 1,507 Key Indicators ($ in billions) Average depos its $298.8 $297.1 $288.1 Average loans and leases 330.3 324.5 295.4 Net charge-off ratio 0.10 % 0.13 % (0.00) % Return on average a l locate capita l 16 11 14 Al located capita l $37 $37 $35 Efficiency ratio 1 45 % 49 % 49 % Inc/(Dec) 1Q16 2Q152Q16 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15

Global Banking Trends 18 ____________________ Note: Amounts may not total due to rounding. 1 Ranking per Dealogic for the second quarter as of July 1, 2016; excludes self-led deals. U.S. municipal bonds ranking per Thomson Reuters. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. 3 FTE basis. 4 Advisory includes fees on debt and equity advisory and mergers and acquisitions. 77% 78% 78% 78% 77% 23% 22% 22% 22% 23% $288 $296 $308 $297 $299 $0 $50 $100 $150 $200 $250 $300 $350 2Q15 3Q15 4Q15 1Q16 2Q16 Noninterest-bearing Interest-bearing 887 748 617 669 889 417 188 286 188 232 276 391 408 346 333 (54) (40) (39) (50) (46) $1,526 $1,287 $1,272 $1,153 $1,408 2Q15 3Q15 4Q15 1Q16 2Q16 Debt Equity Advisory Self-led deals Total Corporation IB Fees ($MM) 2 • Top 3 ranking by volumes in high-yield corporate debt, leveraged loans, mortgage-backed securities, asset-backed securities, investment- grade corporate debt, syndicated loans, announced M&A and debt capital markets; #1 ranking in U.S. municipal bonds 1 • World’s Best Bank for Financing and Diversity (Euromoney ’16) • Best Bank for Cash Management in North America (Global Finance Magazine ’16) • Most Innovative Investment Bank from North America (The Banker ’15) • Relationships with 81% of the Global Fortune 500; 96% of the U.S. Fortune 1,000 (2015) 2.2 2.3 2.4 2.5 2.4 0.8 0.8 0.7 0.6 0.8 0.7 0.7 0.7 0.7 0.8 0.6 0.5 0.6 0.5 0.7 $4.2 $4.3 $4.5 $4.4 $4.7 $0 $1 $2 $3 $4 $5 2Q15 3Q15 4Q15 1Q16 2Q16 Net interest income IB fees Service charges All other income Revenue ($B) 2, 3 4 147 150 157 160 163 132 137 141 147 150 17 17 17 17 17 $295 $305 $315 $325 $330 $0 $50 $100 $150 $200 $250 $300 $350 2Q15 3Q15 4Q15 1Q16 2Q16 Commercial Corporate Business Banking 3 Average Deposits ($B) Business Leadership Average Loans and Leases ($B)

Global Markets 19 • [ Bullets to come ] ____________________ 1 FTE basis. 2 Global Banking and Global Markets share in certain deal economics from investment banking and loan origination activities. 3 Represents a non-GAAP financial measure; see note E on slide 27. 4 See note F on slide 27 for definition of VaR. • Net income of $1.1B in 2Q16; ROAAC of 12% – Excluding net DVA, net income of $1.2B and ROAAC of 13% 3 • Revenue, excluding net DVA, of $4.5B increased 8% from 2Q15, driven primarily by improved sales and trading results, partially offset by lower equity capital markets IB fees 3 • Sales and trading revenue of $3.5B, up 14% from 2Q15 – FICC up 27% to $2.5B and Equities down 8% to $1.1B • Excluding net DVA, sales and trading revenue of $3.7B 3 increased 12% from 2Q15 and 13% from 1Q16 – FICC revenue increased $0.5B, or 22%, from 2Q15, due to stronger performance globally across rates and currencies products, higher secondary trading in loans and securitized products as a result of improved credit market conditions, as well as solid performance in municipal bonds from strong retail demand – Equities revenue decreased $0.1B, or 8%, from 2Q15, driven by a decline in client activity in Asia compared to the strong year ago quarter, which benefitted from increased volumes related to stock market rallies in the region • Noninterest expense decreased 6% versus 2Q15, driven by reduced operating and support costs $ in millions Net interest income 1 $1,093 ($87) $105 Noninterest income 2 3,220 453 258 Total revenue, net of interest expense 1, 2 4,313 366 363 Net DVA (164) (318) 35 Total revenue (excl. net DVA) 1, 2, 3 4,477 684 328 Provis ion for credit losses (5) (14) (11) Noninterest expense 2,582 132 (166) Income tax expense 1 620 102 210 Net income $1,116 $146 $330 Net income (excl. net DVA) 3 $1,218 $343 $309 Selected Revenue Items ($ in millions) Sales and trading revenue $3,540 $3,440 $3,118 Sales and trading revenue (excl . net DVA) 3 3,704 3,286 3,317 FICC (excl . net DVA) 2,618 2,263 2,142 Equities (excl . net DVA) 1,086 1,023 1,175 Global Markets IB fees 2 603 494 718 Key Indicators ($ in billions) Averag trading-related assets $411.3 $407.7 $442.2 Average 99% VaR ($ in MM) 4 46 42 55 Average loans and leases 69.6 69.3 61.8 Return on average a l located capita l 12 % 11 % 9 % Al located capita l $37 $37 $35 Efficiency ratio 1 60 % 62 % 70 % Inc/(Dec) 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15 2Q16 1Q16 2Q15

Global Markets Trends and Revenue Mix 20 2.1 2.3 2.6 1.2 1.0 1.1 $3.3 $3.3 $3.7 $0 $1 $2 $3 $4 $5 2Q15 1Q16 2Q16 FICC Equities $442 $408 $411 $55 $42 $46 $0 $25 $50 $75 $100 $0 $100 $200 $300 $400 $500 2Q15 1Q16 2Q16 Avg. trading-related assets Avg. VaR • #1 Global Research Firm for 5th consecutive year (Institutional Investor ’15) • #1 All-America Research Team (Institutional Investor ’15) • #1 in Global Equities trading commissions in 2015 (Greenwich Associates) • Americas Derivatives House of the Year (Global Capital 2015) • 2015 Greenwich Quality Leader in Overall U.S. Fixed-Income Sales and Overall U.S. Fixed- Income Trading • #2 U.S. Business Done for Fixed Income & FX 1 ____________________ Note: Amounts may not total due to rounding. 1 Source: Orion. Released in December 2015 for the 12 months ended 2Q15. 2 Represents a non-GAAP financial measure. Reported sales & trading revenue was $3.5B, $3.4B and $3.1B for 2Q16, 1Q16 and 2Q15, respectively. Reported FICC sales & trading revenue was $2.5B, $2.4B and $1.9B for 2Q16, 1Q16 and 2Q15, respectively. Reported equities sales & trading revenue was $1.1B, $1.0B and $1.2B for 2Q16, 1Q16 and 2Q15, respectively. See note E on slide 27. 3 Macro includes G10 FX, rates and commodities products. 4 See note F on slide 27 for definition of VaR. 59% 41% Credit / other Macro 59% 41% U.S. / Canada International Business Leadership 2016 YTD Total FICC S&T Revenue Mix (excl. net DVA) 2 2016 YTD Global Markets Revenue Mix (excl. net DVA) 2 3 Sales & Trading Revenue (excl. net DVA) ($B) 2 Average Trading-related Assets ($B) and VaR ($MM) 4

• Net loss of $0.8B in 2Q16 • Revenue decline from 2Q15, driven by negative market-related NII adjustments in 2Q16 versus positive adjustments in 2Q15 and, to a lesser extent, lower gains on the sale of consumer real estate loans, as well as the absence of a benefit to representations and warranties provision • Provision declined from 2Q15, driven by continued portfolio improvement • Noninterest expense increased modestly from 2Q15; decline versus prior quarter driven by the absence of annual retirement- eligible incentive compensation costs recorded in 1Q16 and lower litigation expense ____________________ 1 All Other consists of ALM activities, equity investments, the international consumer card business, non-core mortgage loans and servicing activities, liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities, the impact of certain allocation methodologies and accounting hedge ineffectiveness. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments. 2 FTE basis. All Other 1 21 $ in millions Net interest income 2 ($788) $247 ($1,919) Noninterest income 86 (94) (452) Total revenue, net of interest expense 2 (702) 153 (2,371) Provis ion for credit losses 38 159 (74) Noninterest expense 1,081 (1,301) 79 Income (loss ) before income taxes 2 (1,821) 1,295 (2,376) Income tax expense (benefi t) 2 (1,006) 313 (780) Net income (loss ) ($815) $982 ($1,596) Selected Revenue Items ($ in millions) Mortgage banking inc me $44 $242 $639 Gains on sa les of debt securi ties 267 226 162 Inc/(Dec) 1Q16 2Q152Q16 2Q16 1Q16 2Q15

Key Takeaways 22 • Improved year-over-year earnings in all business segments, driven by operating leverage • Solid year-over-year deposit and loan growth driven by good customer activity • Managed costs while continuing to invest in the business • Asset quality remains strong • Grew book value and tangible book value while returning more capital to shareholders • Focused on delivering responsible growth

Appendix

Significant Accomplishments in Legacy Assets & Servicing (LAS) 1 24 1,393 1,156 773 325 189 103 88 0 500 1,000 1,500 4Q10 4Q11 4Q12 4Q13 4Q14 4Q15 1Q16 53.8 49.7 28.8 17.1 11.2 10.8 0 20 40 60 4Q11 4Q12 4Q13 4Q14 4Q15 1Q16 Th o u sa n d s ____________________ 1 See slide 25 for additional information on the elimination of LAS that became effective April 1, 2016. 2 Serviced by LAS employees. 3 Includes other full-time equivalent employees (FTEs) supporting LAS (contractors). 4 2011 includes goodwill impairment of $2.6B and 2012 includes provision for independent foreclosure review (IFR) acceleration agreement of $1.1B. 12.4 12.4 8.6 5.4 3.6 4.7 1.6 3.8 15.2 0.8 $17.1 $14.0 $12.4 $20.6 $4.4 $0 $5 $10 $15 $20 $25 2011 2012 2013 2014 2015 Non-litigation Litigation $15.6 $3.9 $0.8 $0.7 $0.0 $0 $6 $12 $18 2011 2012 2013 2014 2015 60+ Days Delinquent First Mortgage Loans (units in 000’s) 2 LAS Employees (000’s) 3 Total LAS Expense ($B) 4 Total Representations and Warranties Provision ($B)

Segment Realignment Summary 25 • In connection with the realignment, the company completed a review of all consumer real estate loans, including loans serviced for others, and servicing activities, in order to strategically align these with the appropriate business segment or All Other • The realignment primarily impacted the financial results of Consumer Banking and All Other 1 1Q16 impacts to Consumer Banking – Increased end-of-period loans by $23B 2 – Reduced net income by $56MM and negatively impacted efficiency ratio by 240bps – Additional $4B of allocated capital, which negatively impacted ROAAC by ~400bps 1Q16 impacts to All Other – Increased end-of-period loans by $1B – Improved net income by $58MM Legacy Assets & Servicing Consumer Banking All Other Summary of Asset Transfers (EOP balances as of March 31, 2016) $4B Loans and leases $17B Loans and leases The company filed an 8-K on July 12, 2016, reflecting a change in its organizational alignment (effective April 1, 2016) which eliminated the Legacy Assets & Servicing segment, and now reports its operations through four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets, with the remaining operations recorded in All Other. Prior periods have been reclassified to conform to current period presentation. ____________________ 1 In 1Q16, Legacy Assets & Servicing reported a net loss of $40MM. Following the realignment, which became effective April 1, 2016, the net income of Consumer Banking, GWIM, Global Banking, Global Markets and All Other were impacted by ($56MM), ($16MM), ($12MM), ($14MM), and $58MM, respectively. 2 In addition to the transfers noted above, approximately $1B of loans were transferred from Consumer Banking to GWIM.

Regulatory Capital – Basel 3 transition to fully phased-in 2Q16 1Q16 2Q15 Common equity tier 1 capital (transition) $166,173 $162,732 $158,326 Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition (3,496) (3,764) (5,706) Accumulated OCI phased in during transition 359 (117) (1,884) Intangibles phased in during transition (907) (983) (1,751) Defined benefit pension fund assets phased in during transition (378) (381) (476) DVA related to liabilities and derivatives phased in during transition 104 76 384 Other adjustments and deductions phased in during transition (24) (54) (587) Common equity tier 1 capital (fully phased-in) $161,831 $157,509 $148,306 Risk-weighted Assets – As reported to Basel 3 (fully phased-in) 2Q16 1Q16 2Q15 As reported risk-weighted assets $1,563,481 $1,586,993 $1,407,891 Change in risk-weighted assets from reported to fully phased-in (19,600) (29,710) 25,460 Basel 3 Advanced approaches risk-weighted assets (fully phased-in) 3, 4 $1,543,881 $1,557,283 n/a Basel 3 Standardized approach risk-weighted assets (fully phased-in) $1,433,351 Risk-weighted Assets – (fully phased-in) 2Q16 1Q16 2Q15 Basel 3 Standardized approach risk-weighted assets (fully phased-in) $1,416,299 $1,425,852 $1,433,351 Change in risk-weighted assets for advanced models 127,582 131,431 (5,963) Basel 3 Advanced approaches risk-weighted assets (fully phased-in) 3, 4 $1,543,881 $1,557,283 $1,427,388 Basel 3 Regulatory Capital Ratios 2Q16 1Q16 2Q15 As reported Common equity tier 1 (transition) 10.6 % 10.3 % 11.2 % Standardized approach Common equity tier 1 (fully phased-in) 11.4 11.0 10.3 Advanced approaches Common equity tier 1 (fully phased-in) 3, 4 10.5 10.1 10.4 Regulatory Capital Reconciliations ($MM) 1, 2 26 ____________________ n/a = not applicable 1 Regulatory capital ratios are preliminary. For important presentation information, see slide 29. 2 Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital RWA and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy; therefore, we used the Advanced approaches at June 30, 2016 and March 31, 2016. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. 3 Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the IMM. As of June 30, 2016, BAC did not have regulatory approval for the IMM model. 4 As previously disclosed, with the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets under the Advanced approaches beginning in the fourth quarter of 2015.

Notes 27 A Market-related NII adjustments include retrospective changes to debt security premium or discount amortization resulting from changes in estimated prepayments, due primarily to changes in interest rates, and hedge ineffectiveness. Amortization of premiums and accretion of discounts are included in interest income. When a change is made to the estimated lives of the securities, primarily as a result of changes in interest rates, the related premium or discount is adjusted, with a corresponding charge or benefit to interest income, to the appropriate amount had the current estimated lives been applied since the purchase of the securities. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2015 Annual Report on Form 10-K. B Global Excess Liquidity Sources include cash and high-quality, liquid, unencumbered securities, limited to U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity from the bank or other regulated entities are subject to certain regulatory restrictions. C Time to Required Funding (TTF) is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of Bank of America Corporation can be met using only the BAC parent company’s Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. We define unsecured contractual obligations for purposes of this metric as maturities of senior or subordinated debt issued or guaranteed by Bank of America Corporation. For the period shown in 2015, we have included in the amount of unsecured contractual obligations the liability, including estimated costs, for the previously announced BNY Mellon private-label securitization settlement. In 1Q16, settlement payment was made for $8.5B. D The numerator of the SLR is quarter-end Basel 3 Tier 1 capital. The denominator is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions. E Revenue for all periods included net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities. Net DVA gains (losses) were ($164MM), $154MM and ($199MM) for 2Q16, 1Q16 and 2Q15, respectively. Net DVA gains (losses) included in FICC revenue were ($160MM), $140MM and ($200MM) for 2Q16, 1Q16 and 2Q15, respectively. Net DVA gains (losses) included in equities revenue were ($4MM), $14MM and $1MM for 2Q16, 1Q16 and 2Q15, respectively. F VaR model uses historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Using a 95% confidence level, average VaR was $24MM, $23MM and $23MM for 2Q16, 1Q16 and 2Q15, respectively.

Forward-Looking Statements 28 Bank of America 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,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent Bank of America's current expectations, plans or forecasts of its future results and revenues, and 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 Bank of America'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 Bank of America's 2015 Annual Report on Form 10-K, and in any of Bank of America's subsequent Securities and Exchange Commission filings: the Company's ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking to distinguish certain aspects of the ACE Securities Corp. v. DB Structured Products, Inc. (ACE) decision or to assert other claims seeking to avoid the impact of the ACE decision; the possibility that the Company could face increased servicing, securities, fraud, indemnity, contribution or other claims from one or more counterparties, including trustees, purchasers of loans, underwriters, issuers, other parties involved in securitizations, monolines or private-label and other investors; the possibility that future representations and warranties losses may occur in excess of the Company’s recorded liability and estimated range of possible loss for its representations and warranties exposures; the possibility that the Company may not collect mortgage insurance claims; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory proceedings, including the possibility that amounts may be in excess of the Company’s recorded liability and estimated range of possible loss for litigation exposures; the possible outcome of LIBOR, other reference rate and foreign exchange inquiries and investigations; 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 Company’s exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates (including negative interest rates), currency exchange rates and economic conditions; the possibility that future credit losses may be higher than currently expected due to changes in economic assumptions, customer behavior and other uncertainties; the impact on the Company’s business, financial condition and results of operations of a potential higher interest rate environment; the impact on the Company’s business, financial condition and results of operations from a protracted period of lower oil prices or ongoing volatility with respect to oil prices; our ability to achieve anticipated cost savings; adverse changes to the Company’s credit ratings from the major credit rating agencies; estimates of the fair value of certain of the Company’s assets and liabilities; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements, including the potential adoption of total loss-absorbing capacity requirements; the potential for payment protection insurance exposure to increase as a result of Financial Conduct Authority actions; the impact of recent proposed U.K. tax law changes including a further limitation on how much net operating losses can offset annual profits and a reduction to the U.K. corporate tax rate which, if enacted, will result in a tax charge upon enactment; the possible impact of Federal Reserve actions on the Company’s capital plans; the possible impact of regulatory determinations regarding the Company’s failure to remediate deficiencies identified by banking regulators in the Corporation’s Recovery and Resolution plans; the impact of implementation and compliance with new and evolving U.S. and international regulations, including, but not limited to, recovery and resolution planning requirements, the Volcker Rule, and derivatives regulations; a failure in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber attacks; the impact on the Company’s business, financial condition and results of operations from the potential exit of the U.K. from the European Union; and other similar matters. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

• The information contained herein is preliminary and based on Company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying slides. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. • Certain prior period amounts have been reclassified to conform to current period presentation. Beginning in the first quarter of 2016, the Corporation classifies operating leases in other assets on the Consolidated Balance Sheet. For December 31, 2015, September 30, 2015 and June 30, 2015, $6.0B, $5.6B, and $5.3B, respectively, of operating leases were reclassified from loans and leases to other assets to conform to this presentation. Additionally, amounts related to these leases were reclassified from net interest income to other income and other general operating expenses on the Consolidated Statement of Income. • The Corporation may present certain key performance indicators and ratios excluding certain items (e.g., market-related adjustments on net interest income, debit valuation adjustments, charge-offs related to the settlement with the DOJ) which result in non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in understanding its results of operations and trends. For more information about the non-GAAP financial measures contained herein, please see the presentation of the most directly comparable financial measures calculated in accordance with GAAP and accompanying reconciliations in the earnings press release for the quarter ended June 30, 2016 and other earnings-related information available through the Bank of America Investor Relations web site at: http://investor.bankofamerica.com. • The Company views net interest income and related ratios and analyses on a fully taxable-equivalent (FTE) basis, which when presented on a consolidated basis, are non-GAAP financial measures. The Company believes managing the business with net interest income on an FTE basis provides a more accurate picture of the interest margin for comparative purposes. The FTE adjustment was $223MM, $215MM, $226MM, $226MM and $223MM for 2Q16, 1Q16, 4Q15, 3Q15 and 2Q15, respectively. • The Company’s fully phased-in Basel 3 estimates and the supplementary leverage ratio are based on the Standardized and Advanced approaches under Basel 3 and supplementary leverage ratio final rules. Under the Basel 3 Advanced approaches, risk-weighted assets are determined primarily for market risk and credit risk, similar to the Standardized approach, but also incorporate operational risk and a credit valuation adjustment component. Market risk capital measurements are consistent with the Standardized approach, except for securitization exposures, where the Supervisory Formula Approach is also permitted. Credit risk exposures are measured using internal ratings-based models to determine the applicable risk weight by estimating the probability of default, loss given default and, in certain instances, exposure at default. The internal analytical models primarily rely on internal historical default and loss experience. The calculations under Basel 3 require management to make estimates, assumptions and interpretations, including the probability of future events based on historical experience. Actual results could differ from those estimates and assumptions. Bank of America received approval to begin using the Advanced approaches capital framework to determine risk- based capital requirements beginning in the fourth quarter of 2015. As previously disclosed, with the approval to exit parallel, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets under the Advanced approaches beginning in the fourth quarter of 2015. These Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, BAC did not have regulatory approval for the IMM model. Our estimates under the Basel 3 Advanced approaches may be refined over time as a result of further rulemaking or clarification by U.S. banking regulators. • The Company allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Company's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile and strategic plans. As a result of this process, in the first quarter 2016, the Company adjusted the amount of capital being allocated to its business segments. Important Presentation Information 29

Supplemental Information

This information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.

Description of Segment Realignment

From time to time, Bank of America Corporation (the Corporation) has indicated that it may reclassify its business segment results based on, among other things, changes in its organizational alignment. In the Corporation's Annual Report on Form 10-K for the year ended December 31, 2015, the Corporation reported its results of operations through five business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking, Global Markets and Legacy Assets & Servicing, with the remaining operations recorded in All Other. Effective April 1, 2016, to align the segments with how we now manage the businesses, the Corporation changed its basis of presentation by eliminating the Legacy Assets & Servicing segment, and following such change, we report our results of operations through the following four business segments: Consumer Banking, Global Wealth & Investment Management, Global Banking and Global Markets, with the remaining operations recorded in All Other.



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Income statement
Net interest income	$	18,384		$	19,872		$	9,213		$	9,171		$	9,756		$	9,471		$	10,461
Noninterest income	21,526			22,998			11,185			10,341			9,911			11,042			11,495
Total revenue, net of interest expense	39,910			42,870			20,398			19,512			19,667			20,513			21,956
Provision for credit losses	1,973			1,545			976			997			810			806			780
Noninterest expense	28,309			29,785			13,493			14,816			14,010			13,940			13,958
Income tax expense	2,716			3,309			1,697			1,019			1,511			1,446			2,084
Net income	6,912			8,231			4,232			2,680			3,336			4,321			5,134
Preferred stock dividends	818			712			361			457			330			441			330
Net income applicable to common shareholders	6,094			7,519			3,871			2,223			3,006			3,880			4,804
Diluted earnings per common share	0.56			0.68			0.36			0.21			0.28			0.35			0.43
Average diluted common shares issued and outstanding	11,079,939			11,252,417			11,059,167			11,100,067			11,153,169			11,197,203			11,238,060
Dividends paid per common share	$	0.10		$	0.10		$	0.05		$	0.05		$	0.05		$	0.05		$	0.05

Performance ratios
Return on average assets	0.64		%	0.77		%	0.78		%	0.50		%	0.61		%	0.79		%	0.96		%
Return on average common shareholders' equity	5.14			6.68			6.48			3.77			5.08			6.65			8.42
Return on average shareholders' equity	5.29			6.68			6.42			4.14			5.15			6.75			8.20
Return on average tangible common shareholders' equity ⁽¹⁾	7.34			9.79			9.24			5.41			7.32			9.65			12.31
Return on average tangible shareholders' equity ⁽¹⁾	7.28			9.42			8.79			5.72			7.15			9.43			11.51


At period end
Book value per share of common stock	$	23.67		$	21.91		$	23.67		$	23.12		$	22.54		$	22.41		$	21.91
Tangible book value per share of common stock ⁽¹⁾	16.68			15.02			16.68			16.17			15.62			15.50			15.02
Market price per share of common stock:
Closing price	$	13.27		$	17.02		$	13.27		$	13.52		$	16.83		$	15.58		$	17.02
High closing price for the period	16.43			17.90			15.11			16.43			17.95			18.45			17.67
Low closing price for the period	11.16			15.15			12.18			11.16			15.38			15.26			15.41
Market capitalization	135,577			178,231			135,577			139,427			174,700			162,457			178,231

Number of financial centers - U.S.	4,681			4,789			4,681			4,689			4,726			4,741			4,789
Number of branded ATMs - U.S.	15,998			15,992			15,998			16,003			16,038			16,062			15,992
Full-time equivalent employees	210,516			216,679			210,516			213,183			213,280			215,193			216,679

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-43.)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	2



Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)

Fully taxable-equivalent (FTE) basis data ⁽¹⁾

	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income	$	18,822		$	20,310		$	9,436		$	9,386		$	9,982		$	9,697		$	10,684
Total revenue, net of interest expense	40,348			43,308			20,621			19,727			19,893			20,739			22,179
Net interest yield	2.04		%	2.27		%	2.03		%	2.05		%	2.15		%	2.10		%	2.37		%
Efficiency ratio	70.16			68.77			65.43			75.11			70.43			67.22			62.93

FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-43.)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	3



Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	Six Months Ended June 30				Second Quarter 2016		First Quarter 2016		Fourth Quarter 2015		Third Quarter 2015		Second Quarter 2015
	2016		2015
Interest income
Loans and leases	$	16,479	$	15,947	$	8,219	$	8,260	$	8,006	$	7,965	$	7,951
Debt securities	2,559		4,957		1,355		1,204		2,523		1,839		3,070
Federal funds sold and securities borrowed or purchased under agreements to resell	536		499		260		276		214		275		268
Trading account assets	2,254		2,157		1,075		1,179		1,106		1,134		1,074
Other interest income	1,535		1,468		759		776		804		754		742
Total interest income	23,363		25,028		11,668		11,695		12,653		11,967		13,105

Interest expense
Deposits	470		436		245		225		211		214		216
Short-term borrowings	1,239		1,271		625		614		519		597		686
Trading account liabilities	534		729		242		292		272		342		335
Long-term debt	2,736		2,720		1,343		1,393		1,895		1,343		1,407
Total interest expense	4,979		5,156		2,455		2,524		2,897		2,496		2,644
Net interest income	18,384		19,872		9,213		9,171		9,756		9,471		10,461

Noninterest income
Card income	2,894		2,871		1,464		1,430		1,578		1,510		1,477
Service charges	3,708		3,621		1,871		1,837		1,862		1,898		1,857
Investment and brokerage services	6,383		6,765		3,201		3,182		3,236		3,336		3,387
Investment banking income	2,561		3,013		1,408		1,153		1,272		1,287		1,526
Trading account profits	3,680		3,894		2,018		1,662		963		1,616		1,647
Mortgage banking income	745		1,695		312		433		262		407		1,001
Gains on sales of debt securities	493		436		267		226		270		385		168
Other income	1,062		703		644		418		468		603		432
Total noninterest income	21,526		22,998		11,185		10,341		9,911		11,042		11,495
Total revenue, net of interest expense	39,910		42,870		20,398		19,512		19,667		20,513		21,956

Provision for credit losses	1,973		1,545		976		997		810		806		780

Noninterest expense
Personnel	16,574		17,504		7,722		8,852		7,535		7,829		7,890
Occupancy	2,064		2,054		1,036		1,028		1,011		1,028		1,027
Equipment	914		1,012		451		463		528		499		500
Marketing	833		885		414		419		481		445		445
Professional fees	897		915		472		425		676		673		494
Amortization of intangibles	373		425		186		187		202		207		212
Data processing	1,555		1,567		717		838		817		731		715
Telecommunications	362		373		189		173		240		210		202
Other general operating	4,737		5,050		2,306		2,431		2,520		2,318		2,473
Total noninterest expense	28,309		29,785		13,493		14,816		14,010		13,940		13,958
Income before income taxes	9,628		11,540		5,929		3,699		4,847		5,767		7,218
Income tax expense	2,716		3,309		1,697		1,019		1,511		1,446		2,084
Net income	$	6,912	$	8,231	$	4,232	$	2,680	$	3,336	$	4,321	$	5,134
Preferred stock dividends	818		712		361		457		330		441		330
Net income applicable to common shareholders	$	6,094	$	7,519	$	3,871	$	2,223	$	3,006	$	3,880	$	4,804

Per common share information
Earnings	$	0.59	$	0.72	$	0.38	$	0.21	$	0.29	$	0.37	$	0.46
Diluted earnings	0.56		0.68		0.36		0.21		0.28		0.35		0.43
Dividends paid	0.10		0.10		0.05		0.05		0.05		0.05		0.05
Average common shares issued and outstanding	10,296,652		10,503,379		10,253,573		10,339,731		10,399,422		10,444,291		10,488,137
Average diluted common shares issued and outstanding	11,079,939		11,252,417		11,059,167		11,100,067		11,153,169		11,197,203		11,238,060

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	4



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016		Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016		Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net income	$	6,912		$	8,231		$	4,232		$	2,680	$	3,336		$	4,321		$	5,134
Other comprehensive income (loss), net-of-tax:
Net change in debt and marketable equity securities	4,068			(1,201		)	1,177			2,891		(1,815		)	1,418			(2,537		)
Net change in debit valuation adjustments	114			446			(13		)	127		(18		)	187			186
Net change in derivatives	150			289			126			24		168			127			246
Employee benefit plan adjustments	23			50			13			10		317			27			25
Net change in foreign currency translation adjustments	(9		)	(8		)	(21		)	12		(39		)	(76		)	43
Other comprehensive income (loss)	4,346			(424		)	1,282			3,064		(1,387		)	1,683			(2,037		)
Comprehensive income	$	11,258		$	7,807		$	5,514		$	5,744	$	1,949		$	6,004		$	3,097

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	5



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	June 30 2016			March 31 2016			June 30 2015
Assets
Cash and due from banks	$	29,408		$	27,781		$	29,974
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	141,799			151,829			133,540
Cash and cash equivalents	171,207			179,610			163,514
Time deposits placed and other short-term investments	7,558			5,891			7,996
Federal funds sold and securities borrowed or purchased under agreements to resell	213,737			221,129			199,903
Trading account assets	175,365			178,987			189,106
Derivative assets	55,264			52,255			50,977
Debt securities:
Carried at fair value	309,670			302,333			332,307
Held-to-maturity, at cost	102,279			97,978			60,072
Total debt securities	411,949			400,311			392,379
Loans and leases	903,153			901,113			881,196
Allowance for loan and lease losses	(11,837		)	(12,069		)	(13,068		)
Loans and leases, net of allowance	891,316			889,044			868,128
Premises and equipment, net	9,150			9,358			9,700
Mortgage servicing rights	2,269			2,631			3,521
Goodwill	69,744			69,761			69,775
Intangible assets	3,352			3,578			4,188
Loans held-for-sale	8,848			6,192			6,914
Customer and other receivables	58,150			56,838			64,505
Other assets	108,700			109,913			118,428
Total assets	$	2,186,609		$	2,185,498		$	2,149,034

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	5,940		$	5,876		$	4,863
Loans and leases	60,384			62,045			85,467
Allowance for loan and lease losses	(1,128		)	(1,152		)	(1,711		)
Loans and leases, net of allowance	59,256			60,893			83,756
Loans held-for-sale	256			278			413
All other assets	1,455			1,523			3,681
Total assets of consolidated variable interest entities	$	66,907		$	68,570		$	92,713

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	6



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	June 30 2016			March 31 2016			June 30 2015
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	424,918		$	424,319		$	411,862
Interest-bearing	714,607			718,579			668,447
Deposits in non-U.S. offices:
Noninterest-bearing	11,252			11,230			8,294
Interest-bearing	65,314			63,133			60,957
Total deposits	1,216,091			1,217,261			1,149,560
Federal funds purchased and securities loaned or sold under agreements to repurchase	178,062			188,960			213,024
Trading account liabilities	74,282			74,003			72,596
Derivative liabilities	47,561			41,063			43,583
Short-term borrowings	33,051			30,881			39,903
Accrued expenses and other liabilities (includes $750, $627 and $588 of reserve for unfunded lending commitments)	140,876			137,705			135,295
Long-term debt	229,617			232,849			243,414
Total liabilities	1,919,540			1,922,722			1,897,375
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,887,790, 3,851,790 and 3,767,790 shares	25,220			24,342			22,273
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,216,780,615, 10,312,660,252 and 10,471,836,636 shares	149,554			150,774			152,638
Retained earnings	93,623			90,270			82,718
Accumulated other comprehensive income (loss)	(1,328		)	(2,610		)	(5,970		)
Total shareholders' equity	267,069			262,776			251,659
Total liabilities and shareholders' equity	$	2,186,609		$	2,185,498		$	2,149,034

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	639		$	665		$	358
Long-term debt	11,463			10,857			14,471
All other liabilities	35			17			109
Total liabilities of consolidated variable interest entities	$	12,137		$	11,539		$	14,938

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	7



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3 Transition
	June 30 2016			March 31 2016			December 31 2015			September 30 2015			June 30 2015
Risk-based capital metrics ⁽¹⁾:
Standardized Approach
Common equity tier 1 capital	$	166,173		$	162,732		$	163,026		$	161,649		$	158,326
Tier 1 capital	187,209			182,550			180,778			178,830			176,247
Total capital	226,949			223,020			220,676			219,901			217,538
Risk-weighted assets	1,398,610			1,405,748			1,403,293			1,391,672			1,407,891
Common equity tier 1 capital ratio	11.9		%	11.6		%	11.6		%	11.6		%	11.2		%
Tier 1 capital ratio	13.4			13.0			12.9			12.9			12.5
Total capital ratio	16.2			15.9			15.7			15.8			15.5

Advanced Approaches ⁽²⁾
Common equity tier 1 capital	$	166,173		$	162,732		$	163,026		n/a			n/a
Tier 1 capital	187,209			182,550			180,778			n/a			n/a
Total capital	217,816			213,434			210,912			n/a			n/a
Risk-weighted assets	1,563,481			1,586,993			1,602,373			n/a			n/a
Common equity tier 1 capital ratio	10.6		%	10.3		%	10.2		%	n/a			n/a
Tier 1 capital ratio	12.0			11.5			11.3			n/a			n/a
Total capital ratio	13.9			13.4			13.2			n/a			n/a

Leverage-based metrics ⁽³⁾
Adjusted average assets	$	2,109,354		$	2,094,896		$	2,103,183		$	2,091,628		$	2,073,526
Tier 1 leverage ratio	8.9		%	8.7		%	8.6		%	8.5		%	8.5		%

Supplementary leverage ratio leverage exposure	$	2,694,267		$	2,685,787		$	2,726,806		$	2,739,104		$	2,729,193
Supplementary leverage ratio	6.9		%	6.8		%	6.4		%	6.4		%	6.3		%

Tangible equity ratio ⁽⁴⁾	9.2			9.0			8.9			8.8			8.6
Tangible common equity ratio⁽⁴⁾	8.1			7.9			7.8			7.8			7.6

Regulatory capital ratios are preliminary and reflect the transition provisions of Basel 3.

Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is required to report regulatory capital risk-weighted assets and ratios under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy; therefore, we used the Advanced approaches at June 30, 2016, March 31, 2016 and December 31, 2015. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only.

The numerator of the supplementary leverage ratio and Tier 1 leverage ratio is quarter-end Basel 3 Tier 1 capital. The Tier 1 leverage ratio reflects the transition provisions of Basel 3 and the supplementary leverage ratio is calculated on a fully phased-in basis. The denominator of supplementary leverage exposure is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions.

Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 42-43.)

n/a = not applicable

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	8



Bank of America Corporation and Subsidiaries
Regulatory Capital Reconciliations ^{(1, 2, 3)}
(Dollars in millions)
	June 30 2016			March 31 2016			December 31 2015			September 30 2015			June 30 2015
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition)	$	166,173		$	162,732		$	163,026		$	161,649		$	158,326
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(3,496		)	(3,764		)	(5,151		)	(5,554		)	(5,706		)
Accumulated OCI phased in during transition	359			(117		)	(1,917		)	(1,018		)	(1,884		)
Intangibles phased in during transition	(907		)	(983		)	(1,559		)	(1,654		)	(1,751		)
Defined benefit pension fund assets phased in during transition	(378		)	(381		)	(568		)	(470		)	(476		)
DVA related to liabilities and derivatives phased in during transition	104			76			307			228			384
Other adjustments and deductions phased in during transition	(24		)	(54		)	(54		)	(92		)	(587		)
Common equity tier 1 capital (fully phased-in)	$	161,831		$	157,509		$	154,084		$	153,089		$	148,306

Risk-weighted assets – As reported to Basel 3 (fully phased-in)
Basel 3 Standardized approach risk-weighted assets as reported	$	1,398,610		$	1,405,748		$	1,403,293		$	1,391,672		$	1,407,891
Changes in risk-weighted assets from reported to fully phased-in	17,689			20,104			24,089			22,989			25,460
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	$	1,416,299		$	1,425,852		$	1,427,382		$	1,414,661		$	1,433,351

Basel 3 Advanced approaches risk-weighted assets as reported	$	1,563,481		$	1,586,993		$	1,602,373		n/a			n/a
Changes in risk-weighted assets from reported to fully phased-in	(19,600		)	(29,710		)	(27,690		)	n/a			n/a
Basel 3 Advanced approaches risk-weighted assets (fully phased-in)⁽⁴⁾	$	1,543,881		$	1,557,283		$	1,574,683		$	1,397,504		$	1,427,388

Regulatory capital ratios
Basel 3 Standardized approach common equity tier 1 (transition)	11.9		%	11.6		%	11.6		%	11.6		%	11.2		%
Basel 3 Advanced approaches common equity tier 1 (transition)	10.6			10.3			10.2			n/a			n/a
Basel 3 Standardized approach common equity tier 1 (fully phased-in)	11.4			11.0			10.8			10.8			10.3
Basel 3 Advanced approaches common equity tier 1 (fully phased-in) ⁽⁴⁾	10.5			10.1			9.8			11.0			10.4

Regulatory capital ratios are preliminary.

Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.

Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, the Corporation did not have regulatory approval for the IMM model.

n/a = not applicable

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	9



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Second Quarter 2016						First Quarter 2016						Second Quarter 2015
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	135,312	$	157	0.47	%	$	138,574	$	155	0.45	%	$	125,762	$	81	0.26	%
Time deposits placed and other short-term investments	7,855		35		1.79		9,156		32		1.41		8,183		34		1.64
Federal funds sold and securities borrowed or purchased under agreements to resell	223,005		260		0.47		209,183		276		0.53		214,326		268		0.50
Trading account assets	127,189		1,109		3.50		136,306		1,212		3.57		137,137		1,114		3.25
Debt securities ⁽¹⁾	418,748		1,378		1.33		399,809		1,224		1.23		386,357		3,082		3.21
Loans and leases ⁽²⁾:
Residential mortgage	186,752		1,626		3.48		186,980		1,629		3.49		207,356		1,782		3.44
Home equity	73,141		703		3.86		75,328		711		3.79		82,640		769		3.73
U.S. credit card	86,705		1,983		9.20		87,163		2,021		9.32		87,460		1,980		9.08
Non-U.S. credit card	9,988		250		10.06		9,822		253		10.36		10,012		264		10.56
Direct/Indirect consumer	91,643		563		2.47		89,342		550		2.48		83,698		504		2.42
Other consumer	2,220		16		3.00		2,138		16		3.03		1,885		15		3.14
Total consumer	450,449		5,141		4.58		450,773		5,180		4.61		473,051		5,314		4.50
U.S. commercial	276,640		2,006		2.92		270,511		1,936		2.88		244,540		1,704		2.80
Commercial real estate	57,772		434		3.02		57,271		434		3.05		50,478		382		3.03
Commercial lease financing	20,874		147		2.81		21,077		182		3.46		19,486		149		3.05
Non-U.S. commercial	93,935		564		2.42		93,352		585		2.52		88,623		479		2.17
Total commercial	449,221		3,151		2.82		442,211		3,137		2.85		403,127		2,714		2.70
Total loans and leases ⁽³⁾	899,670		8,292		3.70		892,984		8,317		3.74		876,178		8,028		3.67
Other earning assets	55,955		660		4.74		58,638		694		4.76		62,712		721		4.60
Total earning assets⁽⁴⁾	1,867,734		11,891		2.56		1,844,650		11,910		2.59		1,810,655		13,328		2.95
Cash and due from banks	27,924						28,844						30,751
Other assets, less allowance for loan and lease losses	292,251						300,124						310,560
Total assets	$	2,187,909					$	2,173,618					$	2,151,966

Yields on debt securities excluding the impact of market-related adjustments were 2.34 percent, 2.45 percent and 2.48 percent for the three months ended June 30, 2016, March 31, 2016 and June 30, 2015, respectively. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

Beginning in the first quarter of 2016, the Corporation classifies operating leases in other assets on the Consolidated Balance Sheet. For the three months ended June 30, 2015, $5.2 billion of operating leases were reclassified from loans and leases to other assets to conform to this presentation. Additionally, amounts related to these leases were reclassified from net interest income to other income and other general operating expenses on the Consolidated Statement of Income.

The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	Second Quarter 2016				First Quarter 2016				Second Quarter 2015
Federal funds sold and securities borrowed or purchased under agreements to resell		$	5			$	13			$	13
Debt securities		(48		)		(34		)		(3		)
U.S. commercial loans and leases		(13		)		(14		)		(18		)
Net hedge expense on assets		$	(56	)		$	(35	)		$	(8	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	10



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Second Quarter 2016						First Quarter 2016						Second Quarter 2015
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	50,105	$	1	0.01	%	$	47,845	$	1	0.01	%	$	47,381	$	2	0.02	%
NOW and money market deposit accounts	583,913		72		0.05		577,779		71		0.05		536,201		71		0.05
Consumer CDs and IRAs	48,450		33		0.28		49,617		35		0.28		55,832		42		0.30
Negotiable CDs, public funds and other deposits	32,879		35		0.42		31,739		29		0.37		29,904		22		0.30
Total U.S. interest-bearing deposits	715,347		141		0.08		706,980		136		0.08		669,318		137		0.08
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,235		10		0.98		4,123		9		0.84		5,162		9		0.67
Governments and official institutions	1,542		2		0.66		1,472		2		0.53		1,239		1		0.38
Time, savings and other	60,311		92		0.61		56,943		78		0.55		55,030		69		0.51
Total non-U.S. interest-bearing deposits	66,088		104		0.63		62,538		89		0.57		61,431		79		0.52
Total interest-bearing deposits	781,435		245		0.13		769,518		225		0.12		730,749		216		0.12
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	215,852		625		1.17		221,990		614		1.11		252,088		686		1.09
Trading account liabilities	73,773		242		1.32		72,299		292		1.63		77,772		335		1.73
Long-term debt	233,061		1,343		2.31		233,654		1,393		2.39		242,230		1,407		2.33
Total interest-bearing liabilities ⁽¹⁾	1,304,121		2,455		0.76		1,297,461		2,524		0.78		1,302,839		2,644		0.81
Noninterest-bearing sources:
Noninterest-bearing deposits	431,856						428,937						416,040
Other liabilities	186,788						186,903						182,033
Shareholders' equity	265,144						260,317						251,054
Total liabilities and shareholders' equity	$	2,187,909					$	2,173,618					$	2,151,966
Net interest spread					1.80	%					1.81	%					2.14	%
Impact of noninterest-bearing sources					0.23						0.24						0.23
Net interest income/yield on earning assets			$	9,436	2.03	%			$	9,386	2.05	%			$	10,684	2.37	%

The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:



	Second Quarter 2016				First Quarter 2016				Second Quarter 2015
NOW and money market deposit accounts		$	(1	)		$	—			$	(1	)
Consumer CDs and IRAs		5				6				6
Negotiable CDs, public funds and other deposits		4				3				4
Banks located in non-U.S. countries		3				1				1
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		149				162				247
Long-term debt		(770		)		(737		)		(766		)
Net hedge income on liabilities		$	(610	)		$	(565	)		$	(509	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	11



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Six Months Ended June 30
	2016						2015
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	136,943	$	312	0.46	%	$	125,974	$	165	0.26	%
Time deposits placed and other short-term investments	8,506		67		1.59		8,280		67		1.63
Federal funds sold and securities borrowed or purchased under agreements to resell	216,094		536		0.50		214,130		499		0.47
Trading account assets	131,748		2,321		3.54		138,036		2,236		3.26
Debt securities ⁽¹⁾	409,279		2,602		1.28		384,747		4,980		2.61
Loans and leases ⁽²⁾:
Residential mortgage	186,866		3,255		3.48		211,172		3,633		3.44
Home equity	74,235		1,414		3.82		83,771		1,539		3.69
U.S. credit card	86,934		4,004		9.26		88,074		4,007		9.18
Non-U.S. credit card	9,905		503		10.21		10,007		526		10.60
Direct/Indirect consumer	90,493		1,113		2.47		82,214		995		2.44
Other consumer	2,178		32		3.01		1,866		30		3.22
Total consumer	450,611		10,321		4.60		477,104		10,730		4.52
U.S. commercial	273,576		3,942		2.90		239,751		3,349		2.82
Commercial real estate	57,521		868		3.03		49,362		729		2.98
Commercial lease financing	20,975		329		3.14		19,379		320		3.30
Non-U.S. commercial	93,644		1,149		2.47		86,103		964		2.26
Total commercial	445,716		6,288		2.84		394,595		5,362		2.74
Total loans and leases⁽³⁾	896,327		16,609		3.72		871,699		16,092		3.71
Other earning assets	57,295		1,354		4.75		62,081		1,427		4.63
Total earning assets⁽⁴⁾	1,856,192		23,801		2.57		1,804,947		25,466		2.84
Cash and due from banks	28,384						29,231
Other assets, less allowance for loan and lease losses	296,187						311,129
Total assets	$	2,180,763					$	2,145,307

Yields on debt securities excluding the impact of market-related adjustments were 2.39 percent and 2.51 percent for the six months ended June 30, 2016 and 2015. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.

Beginning in the first quarter of 2016, the Corporation classifies operating leases in other assets on the Consolidated Balance Sheet. For the six months ended June 30, 2015, $5.2 million of operating leases were reclassified from loans and leases to other assets to conform to this presentation. Additionally, amounts related to these leases were reclassified from net interest income to other income and other general operating expenses on the Consolidated Statement of Income.



	2016				2015
Federal funds sold and securities borrowed or purchased under agreements to resell		$	18			$	25
Debt securities		(82		)		(11		)
U.S. commercial loans and leases		(27		)		(33		)
Net hedge expense on assets		$	(91	)		$	(19	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	12



Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Six Months Ended June 30
	2016						2015
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	48,975	$	2	0.01	%	$	46,806	$	4	0.02	%
NOW and money market deposit accounts	580,846		143		0.05		534,026		138		0.05
Consumer CDs and IRAs	49,034		68		0.28		57,260		87		0.31
Negotiable CDs, public funds and other deposits	32,308		64		0.40		29,353		44		0.31
Total U.S. interest-bearing deposits	711,163		277		0.08		667,445		273		0.08
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,179		19		0.91		4,855		17		0.70
Governments and official institutions	1,507		4		0.60		1,310		2		0.29
Time, savings and other	58,627		170		0.58		54,655		144		0.53
Total non-U.S. interest-bearing deposits	64,313		193		0.60		60,820		163		0.54
Total interest-bearing deposits	775,476		470		0.12		728,265		436		0.12
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	218,921		1,239		1.14		248,133		1,271		1.03
Trading account liabilities	73,036		534		1.47		78,277		729		1.88
Long-term debt	233,358		2,736		2.35		241,184		2,720		2.27
Total interest-bearing liabilities ⁽¹⁾	1,300,791		4,979		0.77		1,295,859		5,156		0.80
Noninterest-bearing sources:
Noninterest-bearing deposits	430,397						410,536
Other liabilities	186,844						190,499
Shareholders' equity	262,731						248,413
Total liabilities and shareholders' equity	$	2,180,763					$	2,145,307
Net interest spread					1.80	%					2.04	%
Impact of noninterest-bearing sources					0.24						0.23
Net interest income/yield on earning assets			$	18,822	2.04	%			$	20,310	2.27	%



	2016				2015
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		11				12
Negotiable CDs, public funds and other deposits		7				7
Banks located in non-U.S. countries		4				2
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		311				496
Long-term debt		(1,507		)		(1,607		)
Net hedge income on liabilities		$	(1,175	)		$	(1,091	)

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	13



Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	June 30, 2016
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	203,680	$	5,021	$	(13	)	$	208,688
Agency-collateralized mortgage obligations	9,451		314		(5		)	9,760
Commercial	11,083		319		(5		)	11,397
Non-agency residential	1,963		208		(68		)	2,103
Total mortgage-backed securities	226,177		5,862		(91		)	231,948
U.S. Treasury and agency securities	25,792		351		—			26,143
Non-U.S. securities	6,044		21		(7		)	6,058
Other taxable securities, substantially all asset-backed securities	9,800		23		(49		)	9,774
Total taxable securities	267,813		6,257		(147		)	273,923
Tax-exempt securities	15,281		112		(31		)	15,362
Total available-for-sale debt securities	283,094		6,369		(178		)	289,285
Other debt securities carried at fair value	20,527		93		(235		)	20,385
Total debt securities carried at fair value	303,621		6,462		(413		)	309,670
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	102,279		2,097		(1		)	104,375
Total debt securities	$	405,900	$	8,559	$	(414	)	$	414,045
Available-for-sale marketable equity securities ⁽¹⁾	$	325	$	46	$	(34	)	$	337

	March 31, 2016
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	204,557	$	3,257	$	(78	)	$	207,736
Agency-collateralized mortgage obligations	10,294		277		(13		)	10,558
Commercial	9,989		245		(1		)	10,233
Non-agency residential	2,104		202		(77		)	2,229
Total mortgage-backed securities	226,944		3,981		(169		)	230,756
U.S. Treasury and agency securities	21,732		484		—			22,216
Non-U.S. securities	6,059		26		(5		)	6,080
Other taxable securities, substantially all asset-backed securities	10,526		53		(99		)	10,480
Total taxable securities	265,261		4,544		(273		)	269,532
Tax-exempt securities	14,551		72		(35		)	14,588
Total available-for-sale debt securities	279,812		4,616		(308		)	284,120
Other debt securities carried at fair value	18,378		87		(252		)	18,213
Total debt securities carried at fair value	298,190		4,703		(560		)	302,333
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	97,978		1,244		(147		)	99,075
Total debt securities	$	396,168	$	5,947	$	(707	)	$	401,408
Available-for-sale marketable equity securities ⁽¹⁾	$	326	$	56	$	(11	)	$	371

Classified in other assets on the Consolidated Balance Sheet.



Other Debt Securities Carried at Fair Value
(Dollars in millions)	June 30 2016		March 31 2016
Mortgage-backed securities:
Agency-collateralized mortgage obligations	$	7	$	6
Non-agency residential	3,244		3,323
Total mortgage-backed securities	3,251		3,329
Non-U.S. securities ⁽¹⁾	16,885		14,628
Other taxable securities, substantially all asset-backed securities	249		256
Total	$	20,385	$	18,213

These securities are primarily used to satisfy certain international regulatory liquidity requirements.

Certain prior period amounts have been reclassified to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	14



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other
(Dollars in millions)
	Second Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	9,436	$	5,276	$	1,434	$	2,421		$	1,093		$	(788	)
Card income	1,464		1,216		22		134			37			55
Service charges	1,871		1,011		17		759			79			5
Investment and brokerage services	3,201		67		2,598		14			525			(3		)
Investment banking income (loss)	1,408		—		51		799			603			(45		)
Trading account profits	2,018		—		25		26			1,872			95
Mortgage banking income	312		267		—		—			1			44
Gains on sales of debt securities	267		—		—		—			—			267
Other income (loss)	644		27		309		537			103			(332		)
Total noninterest income	11,185		2,588		3,022		2,269			3,220			86
Total revenue, net of interest expense (FTE basis)	20,621		7,864		4,456		4,690			4,313			(702		)
Provision for credit losses	976		726		14		203			(5		)	38
Noninterest expense	13,493		4,416		3,288		2,126			2,582			1,081
Income (loss) before income taxes (FTE basis)	6,152		2,722		1,154		2,361			1,736			(1,821		)
Income tax expense (benefit) (FTE basis)	1,920		1,004		432		870			620			(1,006		)
Net income (loss)	$	4,232	$	1,718	$	722	$	1,491		$	1,116		$	(815	)

Average
Total loans and leases	$	899,670	$	242,921	$	141,181	$	330,273		$	69,620		$	115,675
Total assets ⁽¹⁾	2,187,909		665,102		289,646		391,839			580,701			260,621
Total deposits	1,213,291		596,474		254,804		298,805			34,518			28,690
Period end
Total loans and leases	$	903,153	$	247,122	$	142,633	$	330,709		$	70,766		$	111,923
Total assets ⁽¹⁾	2,186,609		668,470		286,846		393,380			577,428			260,485
Total deposits	1,216,091		599,457		250,976		304,577			33,506			27,575

	First Quarter 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking			Global Markets			All Other
Net interest income (FTE basis)	$	9,386	$	5,272	$	1,488	$	2,481		$	1,180		$	(1,035	)
Card income	1,430		1,211		48		117			10			44
Service charges	1,837		997		19		745			72			4
Investment and brokerage services	3,182		69		2,536		16			568			(7		)
Investment banking income (loss)	1,153		1		73		636			494			(51		)
Trading account profits (losses)	1,662		—		36		(2		)	1,595			33
Mortgage banking income	433		190		1		—			—			242
Gains on sales of debt securities	226		—		—		—			—			226
Other income (loss)	418		61		243		397			28			(311		)
Total noninterest income	10,341		2,529		2,956		1,909			2,767			180
Total revenue, net of interest expense (FTE basis)	19,727		7,801		4,444		4,390			3,947			(855		)
Provision for credit losses	997		531		25		553			9			(121		)
Noninterest expense	14,816		4,538		3,275		2,171			2,450			2,382
Income (loss) before income taxes (FTE basis)	3,914		2,732		1,144		1,666			1,488			(3,116		)
Income tax expense (benefit) (FTE basis)	1,234		1,003		420		612			518			(1,319		)
Net income (loss)	$	2,680	$	1,729	$	724	$	1,054		$	970		$	(1,797	)

Average
Total loans and leases	$	892,984	$	237,908	$	139,099	$	324,531		$	69,283		$	122,163
Total assets ⁽¹⁾	2,173,618		646,523		295,711		387,640			581,226			262,518
Total deposits	1,198,455		578,196		260,482		297,134			35,886			26,757
Period end
Total loans and leases	$	901,113	$	240,591	$	139,690	$	329,485		$	73,446		$	117,901
Total assets ⁽¹⁾	2,185,498		666,298		296,200		390,586			581,150			251,264
Total deposits	1,217,261		597,800		260,565		298,072			34,403			26,421

Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	15



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment and All Other (continued)
(Dollars in millions)
	Second Quarter 2015
	Total Corporation		Consumer Banking		GWIM			Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	10,684	$	5,043	$	1,352		$	2,170	$	988		$	1,131
Card income	1,477		1,207		41			128		36			65
Service charges	1,857		1,033		19			728		73			4
Investment and brokerage services	3,387		68		2,749			14		556			—
Investment banking income (loss)	1,526		—		84			777		718			(53		)
Trading account profits (losses)	1,647		—		53			20		1,703			(129		)
Mortgage banking income	1,001		359		3			—		—			639
Gains (losses) on sales of debt securities	168		—		(1		)	—		7			162
Other income (loss)	432		47		267			399		(131		)	(150		)
Total noninterest income	11,495		2,714		3,215			2,066		2,962			538
Total revenue, net of interest expense (FTE basis)	22,179		7,757		4,567			4,236		3,950			1,669
Provision for credit losses	780		470		15			177		6			112
Noninterest expense	13,958		4,637		3,485			2,086		2,748			1,002
Income before income taxes (FTE basis)	7,441		2,650		1,067			1,973		1,196			555
Income tax expense (benefit) (FTE basis)	2,307		988		398			737		410			(226		)
Net income	$	5,134	$	1,662	$	669		$	1,236	$	786		$	781

Average
Total loans and leases	$	876,178	$	230,704	$	131,364		$	295,405	$	61,819		$	156,886
Total assets ⁽¹⁾	2,151,966		620,355		268,908			361,867		599,985			300,851
Total deposits	1,146,789		552,973		239,974			288,117		39,051			26,674
Period end
Total loans and leases	$	881,196	$	232,271	$	133,499		$	301,558	$	65,962		$	147,906
Total assets ⁽¹⁾	2,149,034		621,883		267,099			367,052		578,052			314,948
Total deposits	1,149,560		554,204		237,624			292,261		38,751			26,720

Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	16



Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment and All Other
(Dollars in millions)
	Six Months Ended June 30, 2016
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	18,822	$	10,548	$	2,922	$	4,902	$	2,273		$	(1,823	)
Card income	2,894		2,427		70		251		47			99
Service charges	3,708		2,008		36		1,504		151			9
Investment and brokerage services	6,383		136		5,134		30		1,093			(10		)
Investment banking income (loss)	2,561		1		124		1,435		1,097			(96		)
Trading account profits	3,680		—		61		24		3,467			128
Mortgage banking income	745		457		1		—		1			286
Gains on sales of debt securities	493		—		—		—		—			493
Other income (loss)	1,062		88		552		934		131			(643		)
Total noninterest income	21,526		5,117		5,978		4,178		5,987			266
Total revenue, net of interest expense (FTE basis)	40,348		15,665		8,900		9,080		8,260			(1,557		)
Provision for credit losses	1,973		1,257		39		756		4			(83		)
Noninterest expense	28,309		8,954		6,563		4,297		5,032			3,463
Income (loss) before income taxes (FTE basis)	10,066		5,454		2,298		4,027		3,224			(4,937		)
Income tax expense (benefit) (FTE basis)	3,154		2,007		852		1,482		1,138			(2,325		)
Net income (loss)	$	6,912	$	3,447	$	1,446	$	2,545	$	2,086		$	(2,612	)

Average
Total loans and leases	$	896,327	$	240,414	$	140,140	$	327,402	$	69,452		$	118,919
Total assets ⁽¹⁾	2,180,763		655,812		292,679		389,740		580,963			261,569
Total deposits	1,205,873		587,335		257,643		297,969		35,202			27,724
Period end
Total loans and leases	$	903,153	$	247,122	$	142,633	$	330,709	$	70,766		$	111,923
Total assets ⁽¹⁾	2,186,609		668,470		286,846		393,380		577,428			260,485
Total deposits	1,216,091		599,457		250,976		304,577		33,506			27,575

	Six Months Ended June 30, 2015
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets			All Other
Net interest income (FTE basis)	$	20,310	$	10,046	$	2,695	$	4,371	$	1,961		$	1,237
Card income	2,871		2,375		90		228		46			132
Service charges	3,621		1,999		37		1,438		138			9
Investment and brokerage services	6,765		133		5,472		32		1,129			(1		)
Investment banking income (loss)	3,013		1		156		1,629		1,348			(121		)
Trading account profits (losses)	3,894		—		108		82		3,841			(137		)
Mortgage banking income	1,695		827		5		—		—			863
Gains on sales of debt securities	436		1		—		—		10			425
Other income (loss)	703		90		514		842		(332		)	(411		)
Total noninterest income	22,998		5,426		6,382		4,251		6,180			759
Total revenue, net of interest expense (FTE basis)	43,308		15,472		9,077		8,622		8,141			1,996
Provision for credit losses	1,545		1,139		38		273		27			68
Noninterest expense	29,785		9,369		6,974		4,235		5,909			3,298
Income (loss) before income taxes (FTE basis)	11,978		4,964		2,065		4,114		2,205			(1,370		)
Income tax expense (benefit) (FTE basis)	3,747		1,846		768		1,531		755			(1,153		)
Net income (loss)	$	8,231	$	3,118	$	1,297	$	2,583	$	1,450		$	(217	)

Average
Total loans and leases	$	871,699	$	230,533	$	129,275	$	289,876	$	59,224		$	162,791
Total assets ⁽¹⁾	2,145,307		613,121		272,036		361,819		597,801			300,530
Total deposits	1,138,801		545,770		241,758		287,280		39,169			24,824
Period end
Total loans and leases	$	881,196	$	232,271	$	133,499	$	301,558	$	65,962		$	147,906
Total assets ⁽¹⁾	2,149,034		621,883		267,099		367,052		578,052			314,948
Total deposits	1,149,560		554,204		237,624		292,261		38,751			26,720

Total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	17



Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income (FTE basis)	$	10,548		$	10,046		$	5,276		$	5,272		$	5,163		$	5,122		$	5,043
Noninterest income:
Card income	2,427			2,375			1,216			1,211			1,313			1,249			1,207
Service charges	2,008			1,999			1,011			997			1,045			1,057			1,033
Mortgage banking income	457			827			267			190			216			290			359
All other income	225			225			94			131			208			293			115
Total noninterest income	5,117			5,426			2,588			2,529			2,782			2,889			2,714
Total revenue, net of interest expense (FTE basis)	15,665			15,472			7,864			7,801			7,945			8,011			7,757

Provision for credit losses	1,257			1,139			726			531			684			523			470

Noninterest expense	8,954			9,369			4,416			4,538			4,638			4,711			4,637
Income before income taxes (FTE basis)	5,454			4,964			2,722			2,732			2,623			2,777			2,650
Income tax expense (FTE basis)	2,007			1,846			1,004			1,003			929			1,001			988
Net income	$	3,447		$	3,118		$	1,718		$	1,729		$	1,694		$	1,776		$	1,662

Net interest yield (FTE basis)	3.44		%	3.54		%	3.39		%	3.49		%	3.46		%	3.48		%	3.49		%
Return on average allocated capital ⁽¹⁾	20			19			20			20			20			21			20
Efficiency ratio (FTE basis)	57.16			60.55			56.14			58.18			58.37			58.80			59.78

Balance Sheet
Average
Total loans and leases	$	240,414		$	230,533		$	242,921		$	237,908		$	235,498		$	233,103		$	230,704
Total earning assets⁽²⁾	617,062			572,712			626,811			607,313			591,348			583,376			579,920
Total assets ⁽²⁾	655,812			613,121			665,102			646,523			630,973			623,324			620,355
Total deposits	587,335			545,770			596,474			578,196			563,745			555,987			552,973
Allocated capital ⁽¹⁾	34,000			33,000			34,000			34,000			33,000			33,000			33,000

Period end
Total loans and leases	$	247,122		$	232,271		$	247,122		$	240,591		$	238,851		$	234,995		$	232,271
Total earning assets⁽²⁾	630,143			581,846			630,143			626,941			605,012			584,995			581,846
Total assets ⁽²⁾	668,470			621,883			668,470			666,298			645,427			625,158			621,883
Total deposits	599,457			554,204			599,457			597,800			577,832			557,626			554,204

Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Other companies may define or calculate these measures differently.

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	18



Bank of America Corporation and Subsidiaries
Consumer Banking Year-to-Date Results
(Dollars in millions)
	Six Months Ended June 30, 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	10,548		$	5,322		$	5,226
Noninterest income:
Card income	2,427			5			2,422
Service charges	2,008			2,008			—
Mortgage banking income	457			—			457
All other income	225			214			11
Total noninterest income	5,117			2,227			2,890
Total revenue, net of interest expense (FTE basis)	15,665			7,549			8,116

Provision for credit losses	1,257			89			1,168

Noninterest expense	8,954			4,832			4,122
Income before income taxes (FTE basis)	5,454			2,628			2,826
Income tax expense (FTE basis)	2,007			967			1,040
Net income	$	3,447		$	1,661		$	1,786

Net interest yield (FTE basis)	3.44		%	1.83		%	4.43		%
Return on average allocated capital ⁽¹⁾	20			28			16
Efficiency ratio (FTE basis)	57.16			64.00			50.79

Balance Sheet
Average
Total loans and leases	$	240,414		$	4,761		$	235,653
Total earning assets ⁽²⁾	617,062			585,692			237,003
Total assets ⁽²⁾	655,812			612,437			249,008
Total deposits	587,335			580,378			6,957
Allocated capital ⁽¹⁾	34,000			12,000			22,000

Period end
Total loans and leases	$	247,122		$	4,845		$	242,277
Total earning assets ⁽²⁾	630,143			597,993			244,699
Total assets ⁽²⁾	668,470			624,658			256,361
Total deposits	599,457			592,442			7,015

	Six Months Ended June 30, 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	10,046		$	4,637		$	5,409
Noninterest income:
Card income	2,375			6			2,369
Service charges	1,999			1,998			1
Mortgage banking income	827			—			827
All other income	225			223			2
Total noninterest income	5,426			2,227			3,199
Total revenue, net of interest expense (FTE basis)	15,472			6,864			8,608

Provision for credit losses	1,139			87			1,052

Noninterest expense	9,369			4,854			4,515
Income before income taxes (FTE basis)	4,964			1,923			3,041
Income tax expense (FTE basis)	1,846			714			1,132
Net income	$	3,118		$	1,209		$	1,909

Net interest yield (FTE basis)	3.54		%	1.72		%	4.79		%
Return on average allocated capital ⁽¹⁾	19			20			18
Efficiency ratio (FTE basis)	60.55			70.71			52.45

Balance Sheet
Average
Total loans and leases	$	230,533		$	4,770		$	225,763
Total earning assets ⁽²⁾	572,712			542,238			227,744
Total assets ⁽²⁾	613,121			569,225			241,166
Total deposits	545,770			537,354			8,416
Allocated capital ⁽¹⁾	33,000			12,000			21,000

Period end
Total loans and leases	$	232,271		$	4,712		$	227,559
Total earning assets ⁽²⁾	581,846			551,507			229,860
Total assets ⁽²⁾	621,883			578,048			243,356
Total deposits	554,204			546,173			8,031

For footnotes see page 21.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	19



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results
(Dollars in millions)
	Second Quarter 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,276		$	2,677		$	2,599
Noninterest income:
Card income	1,216			2			1,214
Service charges	1,011			1,011			—
Mortgage banking income	267			—			267
All other income	94			99			(5		)
Total noninterest income	2,588			1,112			1,476
Total revenue, net of interest expense (FTE basis)	7,864			3,789			4,075

Provision for credit losses	726			41			685

Noninterest expense	4,416			2,378			2,038
Income before income taxes (FTE basis)	2,722			1,370			1,352
Income tax expense (FTE basis)	1,004			505			499
Net income	$	1,718		$	865		$	853

Net interest yield (FTE basis)	3.39		%	1.81		%	4.36		%
Return on average allocated capital ⁽¹⁾	20			29			16
Efficiency ratio (FTE basis)	56.14			62.72			50.02

Balance Sheet
Average
Total loans and leases	$	242,921		$	4,792		$	238,129
Total earning assets ⁽²⁾	626,811			594,748			239,645
Total assets ⁽²⁾	665,102			621,445			251,239
Total deposits	596,474			589,295			7,179
Allocated capital ⁽¹⁾	34,000			12,000			22,000

Period end
Total loans and leases	$	247,122		$	4,845		$	242,277
Total earning assets ⁽²⁾	630,143			597,993			244,699
Total assets ⁽²⁾	668,470			624,658			256,361
Total deposits	599,457			592,442			7,015

	First Quarter 2016
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,272		$	2,645		$	2,627
Noninterest income:
Card income	1,211			3			1,208
Service charges	997			997			—
Mortgage banking income	190			—			190
All other income	131			115			16
Total noninterest income	2,529			1,115			1,414
Total revenue, net of interest expense (FTE basis)	7,801			3,760			4,041

Provision for credit losses	531			48			483

Noninterest expense	4,538			2,454			2,084
Income before income taxes (FTE basis)	2,732			1,258			1,474
Income tax expense (FTE basis)	1,003			462			541
Net income	$	1,729		$	796		$	933

Net interest yield (FTE basis)	3.49		%	1.85		%	4.51		%
Return on average allocated capital ⁽¹⁾	20			27			17
Efficiency ratio (FTE basis)	58.18			65.30			51.56

Balance Sheet
Average
Total loans and leases	$	237,908		$	4,732		$	233,176
Total earning assets ⁽²⁾	607,313			576,633			234,362
Total assets ⁽²⁾	646,523			603,429			246,776
Total deposits	578,196			571,461			6,735
Allocated capital ⁽¹⁾	34,000			12,000			22,000

Period end
Total loans and leases	$	240,591		$	4,737		$	235,854
Total earning assets ⁽²⁾	626,941			596,058			236,962
Total assets ⁽²⁾	666,298			622,783			249,594
Total deposits	597,800			590,829			6,971

For footnotes see page 21.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	20



Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	Second Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,043		$	2,366		$	2,677
Noninterest income:
Card income	1,207			3			1,204
Service charges	1,033			1,033			—
Mortgage banking income	359			—			359
All other income	115			119			(4		)
Total noninterest income	2,714			1,155			1,559
Total revenue, net of interest expense (FTE basis)	7,757			3,521			4,236

Provision for credit losses	470			24			446

Noninterest expense	4,637			2,382			2,255
Income before income taxes (FTE basis)	2,650			1,115			1,535
Income tax expense (FTE basis)	988			415			573
Net income	$	1,662		$	700		$	962

Net interest yield (FTE basis)	3.49		%	1.73		%	4.71		%
Return on average allocated capital ⁽¹⁾	20			23			18
Efficiency ratio (FTE basis)	59.78			67.65			53.25

Balance Sheet
Average
Total loans and leases	$	230,704		$	4,694		$	226,010
Total earning assets ⁽²⁾	579,920			549,060			228,124
Total assets ⁽²⁾	620,355			576,247			241,372
Total deposits	552,973			544,341			8,632
Allocated capital ⁽¹⁾	33,000			12,000			21,000

Period end
Total loans and leases	$	232,271		$	4,712		$	227,559
Total earning assets ⁽²⁾	581,846			551,507			229,860
Total assets ⁽²⁾	621,883			578,048			243,356
Total deposits	554,204			546,173			8,031

For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments' and businesses' liabilities and allocated shareholders' equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	21



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Average deposit balances
Checking	$	287,787		$	261,972		$	293,427		$	282,146		$	273,900		$	268,559		$	266,524
Savings	47,347			45,140			48,472			46,221			44,518			44,721			45,748
MMS	204,474			183,433			207,333			201,616			195,756			191,358			186,750
CDs and IRAs	44,914			52,492			44,378			45,451			46,791			48,644			51,178
Non-U.S. and other	2,813			2,733			2,864			2,762			2,780			2,705			2,773
Total average deposit balances	$	587,335		$	545,770		$	596,474		$	578,196		$	563,745		$	555,987		$	552,973

Deposit spreads (excludes noninterest costs)
Checking	1.98		%	1.99		%	1.97		%	1.98		%	1.98		%	1.99		%	1.99		%
Savings	2.27			2.30			2.26			2.28			2.29			2.29			2.29
MMS	1.24			1.22			1.24			1.24			1.24			1.23			1.22
CDs and IRAs	0.86			0.56			0.92			0.81			0.69			0.62			0.58
Non-U.S. and other	0.74			0.43			0.80			0.67			0.54			0.48			0.44
Total deposit spreads	1.65			1.61			1.66			1.65			1.63			1.62			1.61

Client brokerage assets	$	131,698		$	121,961		$	131,698		$	126,921		$	122,721		$	117,210		$	121,961

Online banking active accounts (units in thousands)	33,022			31,365			33,022			32,647			31,674			31,627			31,365
Mobile banking active users (units in thousands)	20,227			17,626			20,227			19,595			18,705			18,398			17,626
Financial centers	4,681			4,789			4,681			4,689			4,726			4,741			4,789
ATMs	15,998			15,992			15,998			16,003			16,038			16,062			15,992

Total U.S. credit card ⁽¹⁾
Loans
Average credit card outstandings	$	86,934		$	88,074		$	86,705		$	87,163		$	88,623		$	88,201		$	87,460
Ending credit card outstandings	88,103			88,403			88,103			86,403			89,602			88,339			88,403
Credit quality
Net charge-offs	$	1,160		$	1,205		$	573		$	587		$	563		$	546		$	584
	2.68		%	2.76		%	2.66		%	2.71		%	2.52		%	2.46		%	2.68		%
30+ delinquency	$	1,388		$	1,486		$	1,388		$	1,448		$	1,575		$	1,514		$	1,486
	1.58		%	1.68		%	1.58		%	1.68		%	1.76		%	1.71		%	1.68		%
90+ delinquency	$	693		$	742		$	693		$	743		$	789		$	721		$	742
	0.79		%	0.84		%	0.79		%	0.86		%	0.88		%	0.82		%	0.84		%
Other Total U.S. credit card indicators ⁽¹⁾
Gross interest yield	9.26		%	9.18		%	9.20		%	9.32		%	9.15		%	9.15		%	9.08		%
Risk-adjusted margin	8.92			8.95			8.79			9.05			9.79			9.51			8.89
New accounts (in thousands)	2,521			2,456			1,313			1,208			1,260			1,257			1,295
Purchase volumes	$	107,821		$	106,154		$	56,667		$	51,154		$	58,752		$	56,472		$	55,976

Debit card data
Purchase volumes	$	141,267		$	137,653		$	72,120		$	69,147		$	70,755		$	69,288		$	70,754

For footnotes see page 23.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	22



Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	Six Months Ended June 30								Second Quarter 2016				First Quarter 2016				Fourth Quarter 2015				Third Quarter 2015				Second Quarter 2015
	2016				2015				Second Quarter 2016				First Quarter 2016				Fourth Quarter 2015				Third Quarter 2015				Second Quarter 2015
Loan production ⁽²⁾:
Total ⁽³⁾:
First mortgage	$	28,937			$	29,675			$	16,314			$	12,623			$	13,543			$	13,712			$	15,962
Home equity	8,108				6,426				4,303				3,805				3,494				3,140				3,209
Consumer Banking:
First mortgage	$	20,619			$	21,120			$	11,541			$	9,078			$	9,733			$	10,026			$	11,265
Home equity	7,396				5,957				3,881				3,515				3,192				2,840				2,939

Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	2,680			$	3,271			$	2,152			$	2,680			$	2,699			$	3,201			$	3,107
Net additions	82				(69		)		25				57				49				53				(174		)
Amortization of expected cash flows ⁽⁴⁾	(336		)		(385		)		(165		)		(171		)		(174		)		(179		)		(187		)
Other changes in mortgage servicing rights fair value ⁽⁵⁾	(637		)		384				(223		)		(414		)		106				(376		)		455
Balance, end of period ⁽⁶⁾	$	1,789			$	3,201			$	1,789			$	2,152			$	2,680			$	2,699			$	3,201

Capitalized mortgage servicing rights (% of loans serviced for investors)	51			bps	78			bps	51			bps	58			bps	71			bps	69			bps	78			bps
Mortgage loans serviced for investors (in billions)	$	353			$	408			$	353			$	368			$	378			$	391			$	408

Total Mortgage banking income
Consumer Banking mortgage banking income
Total production income	$	320			$	578			$	182			$	138			$	150			$	223			$	272
Net Servicing Income
Servicing fees	363				450				179				184				201				204				208
Amortization of expected cash flows ⁽⁴⁾	(300		)		(347		)		(146		)		(154		)		(155		)		(159		)		(168		)
Fair value changes of MSRs, net of risk management activities used to hedge certain market risks⁽⁷⁾	74				146				52				22				20				22				47
Total net servicing income	137				249				85				52				66				67				87
Total Consumer Banking mortgage banking income	457				827				267				190				216				290				359
Other mortgage banking income⁽⁸⁾
Other production income	108				24				14				94				48				34				25
Representations and warranties provision	(66		)		114				(22		)		(44		)		(9		)		(77		)		204
Net Servicing Income
Servicing fees	237				306				119				118				123				109				152
Amortization of expected cash flows ⁽⁴⁾	(37		)		(38		)		(19		)		(18		)		(19		)		(20		)		(19		)
Fair value changes of MSRs, net of risk management activities used to hedge certain market risks ⁽⁷⁾	115				297				10				105				(31		)		62				146
Total net servicing income	315				565				110				205				73				151				279
Eliminations ⁽⁹⁾	(69		)		165				(57		)		(12		)		(66		)		9				134
Total other mortgage banking income	288				868				45				243				46				117				642
Total consolidated mortgage banking income	$	745			$	1,695			$	312			$	433			$	262			$	407			$	1,001

In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.

The above loan production amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit.

In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

Represents the net change in fair value of the mortgage servicing rights asset due to the recognition of modeled cash flows.

These amounts reflect the changes in modeled mortgage servicing rights fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve and periodic adjustments to valuation based on third-party price discovery. In addition, these amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows, changes in certain cash flow assumptions such as cost to service and ancillary income per loan and the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows.

Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.

Includes gains (losses) on sales of MSRs.

Amounts for other mortgage banking income are included in this Consumer Banking table to show the components of consolidated mortgage banking income.

Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other, and net gains or losses on intercompany trades related to mortgage servicing rights risk management.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	23



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income (FTE basis)	$	2,922		$	2,695		$	1,434		$	1,488		$	1,417		$	1,374		$	1,352
Noninterest income:
Investment and brokerage services	5,134			5,472			2,598			2,536			2,638			2,682			2,749
All other income	844			910			424			420			394			410			466
Total noninterest income	5,978			6,382			3,022			2,956			3,032			3,092			3,215
Total revenue, net of interest expense (FTE basis)	8,900			9,077			4,456			4,444			4,449			4,466			4,567

Provision for credit losses	39			38			14			25			15			(2		)	15

Noninterest expense	6,563			6,974			3,288			3,275			3,497			3,467			3,485
Income before income taxes (FTE basis)	2,298			2,065			1,154			1,144			937			1,001			1,067
Income tax expense (FTE basis)	852			768			432			420			332			359			398
Net income	$	1,446		$	1,297		$	722		$	724		$	605		$	642		$	669

Net interest yield (FTE basis)	2.12		%	2.13		%	2.11		%	2.14		%	2.09		%	2.12		%	2.16		%
Return on average allocated capital ⁽¹⁾	22			22			22			22			20			21			22
Efficiency ratio (FTE basis)	73.74			76.83			73.78			73.71			78.62			77.64			76.31

Balance Sheet
Average
Total loans and leases	$	140,140		$	129,275		$	141,181		$	139,099		$	137,022		$	134,319		$	131,364
Total earning assets ⁽²⁾	276,740			254,631			273,874			279,606			269,250			257,424			251,601
Total assets ⁽²⁾	292,679			272,036			289,646			295,711			285,329			274,272			268,908
Total deposits	257,643			241,758			254,804			260,482			251,306			243,980			239,974
Allocated capital ⁽¹⁾	13,000			12,000			13,000			13,000			12,000			12,000			12,000

Period end
Total loans and leases	$	142,633		$	133,499		$	142,633		$	139,690		$	139,039		$	135,805		$	133,499
Total earning assets ⁽²⁾	270,974			250,798			270,974			280,118			279,597			262,952			250,798
Total assets ⁽²⁾	286,846			267,099			286,846			296,200			296,271			279,237			267,099
Total deposits	250,976			237,624			250,976			260,565			260,893			246,172			237,624

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	24



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015		Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015		Third Quarter 2015			Second Quarter 2015
Revenue by Business
Merrill Lynch Global Wealth Management	$	7,273		$	7,531		$	3,626		$	3,647		$	3,669	$	3,693		$	3,788
U.S. Trust	1,541			1,511			769			772			757		755			762
Other ⁽¹⁾	86			35			61			25			23		18			17
Total revenue, net of interest expense (FTE basis)	$	8,900		$	9,077		$	4,456		$	4,444		$	4,449	$	4,466		$	4,567

Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	2,026,392		$	2,052,636		$	2,026,392		$	1,998,145		$	1,986,502	$	1,943,798		$	2,052,636
U.S. Trust	393,089			388,829			393,089			390,262			388,604		375,751			388,829
Other ⁽¹⁾	—			81,318			—			77,751			82,929		78,110			81,318
Total client balances	$	2,419,481		$	2,522,783		$	2,419,481		$	2,466,158		$	2,458,035	$	2,397,659		$	2,522,783

Client Balances by Type, at period end
Long-term assets under management ⁽²⁾	$	832,394		$	849,046		$	832,394		$	812,916		$	817,938	$	798,887		$	849,046
Liquidity assets under management ⁽³⁾	—			81,314			—			77,747			82,925		78,106			81,314
Assets under management	832,394			930,360			832,394			890,663			900,863		876,993			930,360
Brokerage assets	1,070,014			1,079,084			1,070,014			1,056,752			1,040,938		1,026,355			1,079,084
Assets in custody	120,505			138,774			120,505			115,537			113,239		109,196			138,774
Deposits	250,976			237,624			250,976			260,565			260,893		246,172			237,624
Loans and leases ⁽⁴⁾	145,592			136,941			145,592			142,641			142,102		138,943			136,941
Total client balances	$	2,419,481		$	2,522,783		$	2,419,481		$	2,466,158		$	2,458,035	$	2,397,659		$	2,522,783

Assets Under Management Rollforward
Assets under management, beginning balance	$	900,863		$	902,872		$	890,663		$	900,863		$	876,993	$	930,360		$	917,257
Net long-term client flows	9,456			23,247			10,055			(599		)	6,746		4,448			8,593
Net liquidity client flows	(7,990		)	4,530			(4,170		)	(3,820		)	4,813		(3,210		)	6,023
Market valuation/other	(69,935		)	(289		)	(64,154		)	(5,781		)	12,311		(54,605		)	(1,513		)
Total assets under management, ending balance	$	832,394		$	930,360		$	832,394		$	890,663		$	900,863	$	876,993		$	930,360

Associates, at period end ^{(5, 6)}
Number of financial advisors	16,664			16,313			16,664			16,671			16,687		16,522			16,313
Total wealth advisors, including financial advisors	18,159			17,734			18,159			18,111			18,131		17,967			17,734
Total client-facing professionals, including financial advisors and wealth advisors	20,562			20,231			20,562			20,573			20,605		20,446			20,231

Merrill Lynch Global Wealth Management Metric ⁽⁶⁾
Financial advisor productivity ⁽⁷⁾ (in thousands)	$	984		$	1,046		$	984		$	984		$	996	$	1,007		$	1,050

U.S. Trust Metric, at period end ⁽⁶⁾
Client-facing professionals	2,229			2,168			2,229			2,188			2,186		2,182			2,168

Includes the results of BofA Global Capital Management, the cash management division of Bank of America, and certain administrative items. BofA Global Capital Management's assets under management were sold during the three months ended June 30, 2016.

Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.

Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks current income, while maintaining liquidity and capital preservation. The duration of these strategies is primarily less than one year.

Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

Includes financial advisors in the Consumer Banking segment of 2,248, 2,259, 2,187, 2,050 and 2,048 at June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively.

Headcount computation is based upon full-time equivalents.

Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management revenue, excluding the allocation of certain ALM activities, divided by the total number of financial advisors (excluding financial advisors in the Consumer Banking segment).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	25



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income (FTE basis)	$	4,902		$	4,371		$	2,421		$	2,481		$	2,385		$	2,294		$	2,170
Noninterest income:
Service charges	1,504			1,438			759			745			730			746			728
Investment banking fees	1,435			1,629			799			636			729			752			777
All other income	1,239			1,184			711			528			646			523			561
Total noninterest income	4,178			4,251			2,269			1,909			2,105			2,021			2,066
Total revenue, net of interest expense (FTE basis)	9,080			8,622			4,690			4,390			4,490			4,315			4,236

Provision for credit losses	756			273			203			553			233			179			177

Noninterest expense	4,297			4,235			2,126			2,171			2,086			2,161			2,086
Income before income taxes (FTE basis)	4,027			4,114			2,361			1,666			2,171			1,975			1,973
Income tax expense (FTE basis)	1,482			1,531			870			612			800			709			737
Net income	$	2,545		$	2,583		$	1,491		$	1,054		$	1,371		$	1,266		$	1,236

Net interest yield (FTE basis)	2.90		%	2.83		%	2.84		%	2.96		%	2.85		%	2.84		%	2.79		%
Return on average allocated capital ⁽¹⁾	14			15			16			11			16			14			14
Efficiency ratio (FTE basis)	47.33			49.11			45.33			49.48			46.44			50.10			49.24

Balance Sheet
Average
Total loans and leases	$	327,402		$	289,876		$	330,273		$	324,531		$	314,599		$	304,621		$	295,405
Total earnings assets ⁽²⁾	340,250			311,699			343,225			337,275			332,054			320,328			311,674
Total assets ⁽²⁾	389,740			361,819			391,839			387,640			381,887			370,246			361,867
Total deposits	297,969			287,280			298,805			297,134			307,806			296,321			288,117
Allocated capital ⁽¹⁾	37,000			35,000			37,000			37,000			35,000			35,000			35,000

Period end
Total loans and leases	$	330,709		$	301,558		$	330,709		$	329,485		$	319,580		$	309,500		$	301,558
Total earnings assets ⁽²⁾	344,805			317,723			344,805			341,236			330,658			321,589			317,723
Total assets ⁽²⁾	393,380			367,052			393,380			390,586			381,975			372,253			367,052
Total deposits	304,577			292,261			304,577			298,072			296,162			297,644			292,261

Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	26



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	618		$	634		$	313		$	305		$	355		$	365		$	247
Debt issuance	655			706			390			265			265			325			371
Equity issuance	162			289			96			66			109			62			159
Total Investment Banking fees⁽³⁾	$	1,435		$	1,629		$	799		$	636		$	729		$	752		$	777

Business Lending
Corporate	$	2,081		$	1,867		$	1,066		$	1,015		$	1,016		$	947		$	846
Commercial	2,061			1,908			1,058			1,003			1,071			981			1,000
Business Banking	190			178			93			97			82			91			89
Total Business Lending revenue	$	4,332		$	3,953		$	2,217		$	2,115		$	2,169		$	2,019		$	1,935

Global Transaction Services
Corporate	$	1,432		$	1,351		$	724		$	708		$	720		$	710		$	703
Commercial	1,368			1,277			675			693			683			673			635
Business Banking	367			333			183			184			184			181			169
Total Global Transaction Services revenue	$	3,167		$	2,961		$	1,582		$	1,585		$	1,587		$	1,564		$	1,507

Average deposit balances
Interest-bearing	$	67,740		$	65,742		$	69,761		$	65,719		$	66,227		$	64,960		$	65,504
Noninterest-bearing	230,229			221,538			229,044			231,415			241,579			231,361			222,613
Total average deposits	$	297,969		$	287,280		$	298,805		$	297,134		$	307,806		$	296,321		$	288,117

Loan spread	1.62		%	1.65		%	1.59		%	1.65		%	1.60		%	1.61		%	1.61		%

Provision for credit losses	$	756		$	273		$	203		$	553		$	233		$	179		$	177

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	16,544		$	11,031		$	16,544		$	16,923		$	14,397		$	11,243		$	11,031
	4.65		%	3.38		%	4.65		%	4.78		%	4.18		%	3.36		%	3.38		%

Nonperforming loans, leases and foreclosed properties	$	1,450		$	1,179		$	1,450		$	1,316		$	935		$	898		$	1,179
	0.44		%	0.39		%	0.44		%	0.40		%	0.29		%	0.29		%	0.39		%

Average loans and leases by product
U.S. commercial	$	184,337		$	159,375		$	186,151		$	182,523		$	175,124		$	167,682		$	162,591
Commercial real estate	49,014			43,119			49,120			48,908			48,521			46,904			44,066
Commercial lease financing	21,982			20,355			21,891			22,074			21,467			21,074			20,491
Non-U.S. commercial	72,060			67,010			73,104			71,014			69,472			68,947			68,241
Other	9			17			7			12			15			14			16
Total average loans and leases	$	327,402		$	289,876		$	330,273		$	324,531		$	314,599		$	304,621		$	295,405

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	679		$	704		$	333		$	346		$	408		$	391		$	276
Debt issuance	1,558			1,668			889			669			617			748			887
Equity issuance	420			762			232			188			286			188			417
Total investment banking fees including self-led deals	2,657			3,134			1,454			1,203			1,311			1,327			1,580
Self-led deals	(96		)	(121		)	(46		)	(50		)	(39		)	(40		)	(54		)
Total Investment Banking fees	$	2,561		$	3,013		$	1,408		$	1,153		$	1,272		$	1,287		$	1,526

Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.

Advisory includes fees on debt and equity advisory and mergers and acquisitions.

Investment banking fees represent only the fee component in Global Banking and do not include certain less significant items shared with the Investment Banking Group under internal revenue sharing agreements.

Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total commercial utilized reservable criticized exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.

Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	27



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Six Months Ended June 30, 2016
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.4	%	3	9.6	%
Announced mergers and acquisitions	3	17.6		2	31.2
Equity capital markets	5	4.7		4	10.0
Debt capital markets	3	5.9		2	9.8
High-yield corporate debt	2	8.7		2	9.8
Leveraged loans	2	8.9		1	11.2
Mortgage-backed securities	2	12.9		3	13.4
Asset-backed securities	2	8.5		1	12.2
Convertible debt	8	4.4		3	9.7
Common stock underwriting	6	4.7		4	10.0
Investment-grade corporate debt	2	5.9		2	11.3
Syndicated loans	1	10.0		1	13.5

Source: Dealogic data as of July 1, 2016. Figures above include self-led transactions.

Rankings based on deal volumes except net investment banking revenue rankings which reflect fees.

Debt capital markets excludes loans but includes agencies.

Mergers and acquisitions fees included in investment banking revenues reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.

Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising either side of the transaction.

Each advisor receives full credit for the deal amount unless advising a minor stakeholder.

Highlights



Global top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Mortgage-backed securities		Announced mergers and acquisitions
Asset-backed securities		Debt capital markets

U.S. top 3 rankings in:
High-yield corporate debt		Investment-grade corporate debt
Leveraged loans		Syndicated loans
Mortgage-backed securities		Announced mergers and acquisitions
Asset-backed securities		Debt capital markets
Convertible debt

Top 3 rankings excluding self-led deals:

High-yield corporate debt, Leveraged loans, Mortgage-backed securities, Asset-backed securities, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions, Debt capital markets

High-yield corporate debt, Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions, Debt capital markets



This information is preliminary and based on company data available at the time of the presentation.	28



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income (FTE basis)	$	2,273		$	1,961		$	1,093		$	1,180		$	1,126		$	1,096		$	988
Noninterest income:
Investment and brokerage services	1,093			1,129			525			568			518			574			556
Investment banking fees	1,097			1,348			603			494			532			521			718
Trading account profits	3,467			3,841			1,872			1,595			797			1,471			1,703
All other income (loss)	330			(138		)	220			110			139			91			(15		)
Total noninterest income	5,987			6,180			3,220			2,767			1,986			2,657			2,962
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	8,260			8,141			4,313			3,947			3,112			3,753			3,950

Provision for credit losses	4			27			(5		)	9			30			42			6

Noninterest expense	5,032			5,909			2,582			2,450			2,767			2,698			2,748
Income before income taxes (FTE basis)	3,224			2,205			1,736			1,488			315			1,013			1,196
Income tax expense (FTE basis)	1,138			755			620			518			148			212			410
Net income	$	2,086		$	1,450		$	1,116		$	970		$	167		$	801		$	786

Return on average allocated capital ⁽²⁾	11		%	8		%	12		%	11		%	2		%	9		%	9		%
Efficiency ratio (FTE basis)	60.93			72.58			59.88			62.08			88.91			71.88			69.56

Balance Sheet
Average
Total trading-related assets ⁽³⁾	$	409,473		$	442,983		$	411,285		$	407,661		$	415,856		$	431,172		$	442,175
Total loans and leases	69,452			59,224			69,620			69,283			68,835			66,349			61,819
Total earning assets ⁽³⁾	420,506			432,579			422,815			418,198			419,977			436,809			433,254
Total assets	580,963			597,801			580,701			581,226			586,606			594,142			599,985
Total deposits	35,202			39,169			34,518			35,886			37,175			36,818			39,051
Allocated capital ⁽²⁾	37,000			35,000			37,000			37,000			35,000			35,000			35,000

Period end
Total trading-related assets ⁽³⁾	$	405,037		$	406,098		$	405,037		$	408,223		$	373,926		$	407,086		$	406,098
Total loans and leases	70,766			65,962			70,766			73,446			73,208			70,159			65,962
Total earning assets ⁽³⁾	416,325			405,883			416,325			422,268			384,046			418,519			405,883
Total assets	577,428			578,052			577,428			581,150			548,790			576,461			578,052
Total deposits	33,506			38,751			33,506			34,403			37,038			35,943			38,751

Trading-related assets (average)
Trading account securities	$	182,989		$	195,313		$	178,047		$	187,931		$	195,275		$	196,685		$	197,117
Reverse repurchases	89,108			112,221			92,805			85,411			86,553			103,312			109,293
Securities borrowed	85,293			79,909			89,779			80,807			82,385			75,786			81,091
Derivative assets	52,083			55,540			50,654			53,512			51,643			55,389			54,674
Total trading-related assets ⁽³⁾	$	409,473		$	442,983		$	411,285		$	407,661		$	415,856		$	431,172		$	442,175

Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 30.

Trading-related assets include derivative assets, which are considered non-earning assets.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.



This information is preliminary and based on company data available at the time of the presentation.	29



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Six Months Ended June 30					Second Quarter 2016		First Quarter 2016		Fourth Quarter 2015		Third Quarter 2015		Second Quarter 2015
	2016		2015			Second Quarter 2016		First Quarter 2016		Fourth Quarter 2015		Third Quarter 2015		Second Quarter 2015
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	4,861	$	4,295		$	2,458	$	2,403	$	1,560	$	2,010	$	1,942
Equities	2,119		2,313			1,082		1,037		874		1,148		1,176
Total sales and trading revenue	$	6,980	$	6,608		$	3,540	$	3,440	$	2,434	$	3,158	$	3,118

Sales and trading revenue, excluding net debit valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	4,881	$	4,887		$	2,618	$	2,263	$	1,749	$	1,993	$	2,142
Equities	2,109		2,321			1,086		1,023		883		1,153		1,175
Total sales and trading revenue, excluding net debit valuation adjustment	$	6,990	$	7,208		$	3,704	$	3,286	$	2,632	$	3,146	$	3,317

Sales and trading revenue breakdown
Net interest income	$	2,070	$	1,781		$	993	$	1,077	$	1,028	$	1,004	$	888
Commissions	1,076		1,117			517		559		511		568		550
Trading	3,466		3,840			1,871		1,595		796		1,470		1,702
Other	368		(130		)	159		209		99		116		(22		)
Total sales and trading revenue	$	6,980	$	6,608		$	3,540	$	3,440	$	2,434	$	3,158	$	3,118

Includes Global Banking sales and trading revenue of $281 million and $208 million for the six months ended June 30, 2016 and 2015; $121 million and $160 million for the second and first quarters of 2016, and $127 million, $86 million and $133 million for the fourth, third, and second quarters of 2015, respectively.

For this presentation, sales and trading revenue excludes net debit valuation adjustment (DVA) gains (losses) which include net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities for all periods. Sales and trading revenue excluding net DVA gains (losses) represents a non-GAAP financial measure.



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	June 30 2016		March 31 2016		June 30 2015
Consumer
Residential mortgage ⁽¹⁾	$	185,943	$	184,440	$	198,825
Home equity	71,587		73,771		81,006
U.S. credit card	88,103		86,403		88,403
Non-U.S. credit card	9,380		9,977		10,276
Direct/Indirect consumer ⁽²⁾	92,746		90,609		84,754
Other consumer ⁽³⁾	2,284		2,176		2,000
Total consumer loans excluding loans accounted for under the fair value option	450,043		447,376		465,264
Consumer loans accounted for under the fair value option ⁽⁴⁾	1,844		1,946		1,971
Total consumer	451,887		449,322		467,235

Commercial
U.S. commercial ⁽⁵⁾	276,587		273,636		248,296
Commercial real estate ⁽⁶⁾	57,612		58,060		52,344
Commercial lease financing	21,203		20,957		20,089
Non-U.S. commercial	89,048		92,872		87,574
Total commercial loans excluding loans accounted for under the fair value option	444,450		445,525		408,303
Commercial loans accounted for under the fair value option ⁽⁴⁾	6,816		6,266		5,658
Total commercial	451,266		451,791		413,961
Total loans and leases ⁽⁷⁾	$	903,153	$	901,113	$	881,196



Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry ^{(1, 2, 3, 4)}
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	June 30 2016		March 31 2016		June 30 2015		June 30 2016			March 31 2016			June 30 2015
Diversified financials	$	78,799	$	77,650	$	68,976	$	122,504		$	124,704		$	114,441
Real estate ⁽⁵⁾	61,539		62,867		58,006		84,543			87,438			78,965
Healthcare equipment and services	37,483		37,555		33,232		67,494			62,650			50,548
Retailing	39,934		39,392		36,731		63,589			63,687			63,136
Capital goods	34,866		33,571		30,566		63,171			63,036			55,057
Government and public education	45,956		46,030		43,055		55,019			54,303			50,582
Banking	44,002		44,939		42,764		50,437			51,163			48,942
Materials	23,373		23,511		24,382		44,607			45,321			46,661
Food, beverage and tobacco	20,594		19,561		17,796		41,495			39,535			35,664
Energy	21,220		21,849		22,473		40,467			43,494			47,341
Consumer services	25,656		25,381		21,635		40,132			39,232			34,310
Commercial services and supplies	21,335		21,643		19,132		33,818			33,761			31,892
Utilities	12,868		12,372		11,161		28,426			28,864			25,601
Transportation	20,117		19,753		18,391		27,392			27,355			26,006
Media	13,137		12,852		12,181		25,101			25,759			27,153
Individuals and trusts	16,397		16,152		17,614		21,638			21,134			22,375
Technology hardware and equipment	7,492		6,362		6,187		19,185			23,777			13,792
Software and services	7,990		8,256		5,607		18,380			16,882			14,451
Pharmaceuticals and biotechnology	6,389		6,067		6,049		16,202			17,607			13,054
Automobiles and components	5,414		4,952		4,799		12,447			11,317			10,185
Telecommunication services	5,352		5,038		3,934		12,092			11,290			9,990
Insurance, including monolines	5,395		4,941		4,404		10,670			10,592			10,154
Consumer durables and apparel	5,635		6,289		6,110		10,390			11,033			10,633
Food and staples retailing	4,827		4,504		3,831		8,890			9,330			7,286
Religious and social organizations	4,619		4,440		4,700		6,373			6,073			6,257
Other	7,307		5,820		5,754		14,196			10,971			13,838
Total commercial credit exposure by industry	$	577,696	$	571,747	$	529,470	$	938,658		$	940,308		$	868,314
Net credit default protection purchased on total commitments ⁽⁶⁾							$	(5,396	)	$	(7,078	)	$	(5,584	)



Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾
(Dollars in millions)
	June 30, 2016					March 31, 2016
Ratings ^{(2, 3)}	Net Notional ⁽⁴⁾			Percent of Total		Net Notional ⁽⁴⁾			Percent of Total
A	$	(713	)	13.2	%	$	(810	)	11.4	%
BBB	(2,656		)	49.2		(3,272		)	46.2
BB	(1,190		)	22.1		(1,863		)	26.3
B	(794		)	14.7		(1,052		)	14.9
CCC and below	(14		)	0.3		(45		)	0.6
NR ⁽⁵⁾	(29		)	0.5		(36		)	0.6
Total net credit default protection	$	(5,396	)	100.0	%	$	(7,078	)	100.0	%



Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at June 30 2016		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at June 30 2016 ⁽⁵⁾		Increase (Decrease) from March 31 2016
United Kingdom	$	34,260	$	13,922	$	9,752	$	2,207	$	60,141	$	(3,831	)	$	56,310	$	4,843
Germany	13,368		5,394		2,256		4,410		25,428		(4,109		)	21,319		7,135
Canada	7,220		6,751		4,024		3,811		21,806		(1,437		)	20,369		3,645
Brazil	9,518		280		1,268		4,385		15,451		(217		)	15,234		22
Japan	13,901		599		1,600		750		16,850		(2,073		)	14,777		138
France	3,474		4,699		2,234		7,074		17,481		(3,462		)	14,019		3,268
China	8,483		534		1,486		1,618		12,121		(392		)	11,729		1,692
India	6,467		258		356		3,376		10,457		(257		)	10,200		(539		)
Australia	4,771		2,190		1,043		1,472		9,476		(348		)	9,128		(1,079		)
Netherlands	3,018		2,868		729		2,653		9,268		(1,235		)	8,033		1,318
Hong Kong	5,829		202		936		595		7,562		(9		)	7,553		43
South Korea	4,110		729		904		1,728		7,471		(406		)	7,065		(121		)
Switzerland	3,390		3,121		417		603		7,531		(1,179		)	6,352		398
Mexico	3,210		995		231		1,294		5,730		(263		)	5,467		33
Singapore	2,516		285		822		1,717		5,340		(49		)	5,291		798
Italy	2,876		888		800		1,032		5,596		(772		)	4,824		(233		)
United Arab Emirates	2,132		231		1,139		49		3,551		(58		)	3,493		270
Luxembourg	433		742		2,613		77		3,865		(392		)	3,473		1,192
Turkey	3,181		86		64		24		3,355		(60		)	3,295		27
Israel	205		2,405		138		88		2,836		—			2,836		(163		)
Total top 20 non-U.S. countries exposure	$	132,362	$	47,179	$	32,812	$	38,963	$	251,316	$	(20,549	)	$	230,767	$	22,687



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	7,247		$	8,165		$	8,697		$	9,575		$	10,209
Additions to nonperforming loans and leases:
New nonperforming loans and leases	799			951			1,027			1,029			1,424
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(252		)	(133		)	(214		)	(262		)	(289		)
Sales	(271		)	(823		)	(314		)	(447		)	(542		)
Returns to performing status ⁽²⁾	(396		)	(441		)	(490		)	(722		)	(631		)
Charge-offs ⁽³⁾	(334		)	(395		)	(450		)	(375		)	(484		)
Transfers to foreclosed properties	(88		)	(77		)	(91		)	(101		)	(112		)
Total net reductions to nonperforming loans and leases	(542		)	(918		)	(532		)	(878		)	(634		)
Total nonperforming consumer loans and leases, end of period	6,705			7,247			8,165			8,697			9,575
Foreclosed properties	416			421			444			479			553
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	7,121		$	7,668		$	8,609		$	9,176		$	10,128

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	1,603		$	1,212		$	1,102		$	1,172		$	996
Additions to nonperforming loans and leases:
New nonperforming loans and leases	489			697			456			205			419
Advances	2			9			8			11			15
Reductions to nonperforming loans and leases:
Paydowns	(211		)	(120		)	(133		)	(145		)	(103		)
Sales	(87		)	(6		)	(27		)	—			(65		)
Return to performing status ⁽⁵⁾	(29		)	(47		)	(32		)	(47		)	(27		)
Charge-offs	(106		)	(142		)	(162		)	(93		)	(56		)
Transfers to foreclosed properties	(2		)	—			—			(1		)	(7		)
Total net additions (reductions) to nonperforming loans and leases	56			391			110			(70		)	176
Total nonperforming commercial loans and leases, end of period	1,659			1,603			1,212			1,102			1,172
Foreclosed properties	19			10			15			58			265
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,678		$	1,613		$	1,227		$	1,160		$	1,437




Bank of America Corporation and Subsidiaries
Table of Contents	Page


Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Regulatory Capital Reconciliations	9
Quarterly Average Balances and Interest Rates	10
Year-to-Date Average Balances and Interest Rates	12
Debt Securities and Available-for-Sale Marketable Equity Securities	14
Quarterly Results by Business Segment and All Other	15
Year-to-Date Results by Business Segment and All Other	17
Consumer Banking
Total Segment Results	18
Business Results	19
Key Indicators	22
Global Wealth & Investment Management
Total Segment Results	24
Key Indicators	25
Global Banking
Total Segment Results	26
Key Indicators	27
Investment Banking Product Rankings	28
Global Markets
Total Segment Results	29
Key Indicators	30
All Other
Total Results	31
Outstanding Loans and Leases	32
Quarterly Average Loans and Leases by Business Segment and All Other	33
Commercial Credit Exposure by Industry	34
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	35
Top 20 Non-U.S. Countries Exposure	36
Nonperforming Loans, Leases and Foreclosed Properties	37
Nonperforming Loans, Leases and Foreclosed Properties Activity	38
Quarterly Net Charge-offs and Net Charge-off Ratios	39
Year-to-Date Net Charge-offs and Net Charge-off Ratios	40
Allocation of the Allowance for Credit Losses by Product Type	41

Exhibit A: Non-GAAP Reconciliations	42


⁽¹⁾	FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-43.)


⁽³⁾	Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.


⁽⁴⁾	Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of June 30, 2016, the Corporation did not have regulatory approval for the IMM model.


⁽²⁾	Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.


⁽⁶⁾	Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.


⁽⁸⁾	Amounts for other mortgage banking income are included in this Consumer Banking table to show the components of consolidated mortgage banking income.


⁽⁹⁾	Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other, and net gains or losses on intercompany trades related to mortgage servicing rights risk management.


⁽⁵⁾	Includes financial advisors in the Consumer Banking segment of 2,248, 2,259, 2,187, 2,050 and 2,048 at June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively.


⁽⁷⁾	Financial advisor productivity is defined as annualized Merrill Lynch Global Wealth Management revenue, excluding the allocation of certain ALM activities, divided by the total number of financial advisors (excluding financial advisors in the Consumer Banking segment).


Global:	High-yield corporate debt, Leveraged loans, Mortgage-backed securities, Asset-backed securities, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions, Debt capital markets


U.S.:	High-yield corporate debt, Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Announced mergers and acquisitions, Debt capital markets



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	Six Months Ended June 30						Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
	2016			2015			Second Quarter 2016			First Quarter 2016			Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015
Net interest income (FTE basis)	$	(1,823	)	$	1,237		$	(788	)	$	(1,035	)	$	(109	)	$	(189	)	$	1,131
Noninterest income:
Card income	99			132			55			44			60			67			65
Mortgage banking income	286			863			44			242			43			115			639
Gains on sales of debt securities	493			425			267			226			269			384			162
All other loss	(612		)	(661		)	(280		)	(332		)	(366		)	(183		)	(328		)
Total noninterest income	266			759			86			180			6			383			538
Total revenue, net of interest expense (FTE basis)	(1,557		)	1,996			(702		)	(855		)	(103		)	194			1,669

Provision for credit losses	(83		)	68			38			(121		)	(152		)	64			112

Noninterest expense	3,463			3,298			1,081			2,382			1,022			903			1,002
Income (loss) before income taxes (FTE basis)	(4,937		)	(1,370		)	(1,821		)	(3,116		)	(973		)	(773		)	555
Income tax benefit (FTE basis)	(2,325		)	(1,153		)	(1,006		)	(1,319		)	(472		)	(609		)	(226		)
Net income (loss)	$	(2,612	)	$	(217	)	$	(815	)	$	(1,797	)	$	(501	)	$	(164	)	$	781

Balance Sheet
Average
Total loans and leases	$	118,919		$	162,791		$	115,675		$	122,163		$	130,202		$	139,037		$	156,886
Total assets ⁽²⁾	261,569			300,530			260,621			262,518			295,677			307,009			300,851
Total deposits	27,724			24,824			28,690			26,757			26,019			26,125			26,674

Period end
Total loans and leases	$	111,923		$	147,906		$	111,923		$	117,901		$	126,305		$	131,617		$	147,906
Total assets ⁽³⁾	260,485			314,948			260,485			251,264			271,853			299,897			314,948
Total deposits	27,575			26,720			27,575			26,421			25,334			24,624			26,720


⁽³⁾	Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $492.0 billion, $510.0 billion, $489.0 billion, $461.9 billion and $457.3 billion at June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively.


⁽¹⁾	Includes pay option loans of $2.1 billion, $2.2 billion and $2.6 billion at June 30, 2016, March 31, 2016 and June 30, 2015, respectively. The Corporation no longer originates pay option loans.


⁽³⁾	Includes consumer finance loans of $512 million, $538 million and $618 million, consumer leases of $1.6 billion, $1.5 billion and $1.2 billion and consumer overdrafts of $191 million, $154 million and $227 million at June 30, 2016, March 31, 2016 and June 30, 2015, respectively.


⁽⁵⁾	Includes U.S. small business commercial loans, including card-related products, of $13.1 billion, $12.9 billion and $13.2 billion at June 30, 2016, March 31, 2016 and June 30, 2015, respectively.


⁽⁶⁾	Includes U.S. commercial real estate loans of $54.3 billion, $54.5 billion and $48.6 billion and non-U.S. commercial real estate loans of $3.3 billion, $3.5 billion and $3.7 billion at June 30, 2016, March 31, 2016 and June 30, 2015, respectively.


⁽⁴⁾	Includes the notional amount of unfunded legally binding lending commitments net of amounts distributed (e.g., syndicated or participated) to other financial institutions of $13.9 billion, $13.0 billion and $13.7 billion at June 30, 2016, March 31, 2016 and June 30, 2015, respectively.


⁽⁵⁾	Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based on the borrowers' or counterparties' primary business activity using operating cash flows and primary source of repayment as key factors.


⁽⁶⁾	Represents net notional credit protection purchased.


⁽¹⁾	To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown in this table.


⁽³⁾	Ratings of BBB- or higher are considered to meet the definition of investment grade.


⁽⁴⁾	Represents net credit default protection (purchased) sold.


⁽⁵⁾	NR is comprised of index positions held and any names that have not been rated.


⁽¹⁾	Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.


⁽³⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.


⁽⁴⁾	Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


⁽⁵⁾	Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.


⁽¹⁾	Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally FHA-insured loans, that entered foreclosure of $1.3 billion, $1.4 billion, $1.4 billion, $1.3 billion and $1.3 billion at June 30, 2016, March 31, 2016, December 31, 2015, September 30, 2015 and June 30, 2015, respectively.