Bank of America Corporation (NEO: BOFA)

Bank of America Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	142,392	130,262	72,565	47,672	51,585	71,236
Total Interest Income	142,392	130,262	72,565	47,672	51,585	71,236
Interest Paid on Deposits	86,333	73,331	20,103	4,738	8,225	22,345
Total Interest Expense	86,333	73,331	20,103	4,738	8,225	22,345
Net Interest Income	56,059	56,931	52,462	42,934	43,360	48,891
Net Interest Income Growth (YoY)	-1.74%	8.52%	22.19%	-0.98%	-11.31%	1.51%
Gain (Loss) on Sale of Investments	-2,171	-1,905	-1,168	-1,078	-589	-2,737
Other Non-Interest Income	46,033	45,155	43,656	47,257	42,757	43,018
Total Non-Interest Income	43,862	43,250	42,488	46,179	42,168	40,281
Non-Interest Income Growth (YoY)	0.98%	1.79%	-7.99%	9.51%	4.68%	-6.01%
Revenues Before Loan Losses	99,921	100,181	94,950	89,113	85,528	89,172
Provision for Loan Losses	5,165	4,394	2,543	-4,594	11,320	3,590
Revenue	94,756	95,787	92,407	93,707	74,208	85,582
Revenue Growth (YoY)	-1.75%	3.66%	-1.39%	26.28%	-13.29%	-2.46%
Salaries and Employee Benefits	35,848	35,230	33,547	33,140	30,625	29,877
Occupancy Expenses	4,777	4,723	4,599	4,651	4,518	6,588
Selling, General & Administrative	16,749	16,334	15,618	14,970	13,340	10,277
Other Non-Interest Expense	7,641	7,458	7,674	6,970	6,730	6,086
Total Non-Interest Expense	65,015	63,745	61,438	59,731	55,213	52,828
EBT Excluding Unusual Items	29,741	32,042	30,969	33,976	18,995	32,754
Other Unusual Items	-3,700	-3,700	-	-	-	-
Pretax Income	26,041	28,342	30,969	33,976	18,995	32,754
Income Tax Expense	1,524	1,827	3,441	1,998	1,101	5,324
Net Income	24,517	26,515	27,528	31,978	17,894	27,430
Preferred Dividends & Other Adjustments	1,685	1,649	1,513	1,421	1,421	1,432
Net Income to Common	22,832	24,866	26,015	30,557	16,473	25,998
Net Income Growth	-17.68%	-3.68%	-13.92%	78.71%	-34.76%	-2.55%
Basic Shares Outstanding	7,969	8,029	8,114	8,493	8,753	9,391
Diluted Shares Outstanding	7,997	8,081	8,168	8,558	8,797	9,443
Shares Change (YoY)	-1.97%	-1.07%	-4.57%	-2.71%	-6.84%	-7.76%
EPS (Basic)	2.87	3.10	3.21	3.60	1.88	2.77
EPS (Diluted)	2.84	3.08	3.19	3.57	1.87	2.75
EPS Growth	-18.36%	-3.45%	-10.64%	90.91%	-32.00%	5.36%
Dividend Per Share	0.960	0.920	0.860	0.780	0.720	0.660
Dividend Growth	9.09%	6.98%	10.26%	8.33%	9.09%	22.22%
Effective Tax Rate	5.85%	6.45%	11.11%	5.88%	5.80%	16.25%

Source: S&P Capital IQ. Banks template. Financial Sources.