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Cover and table of contents
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K
(Mark One)
☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the Fiscal Year Ended December 31, 2025
or
☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES
EXCHANGE ACT OF 1934
For the transition period from to
Commission file number:
1-6523
Exact name of registrant as specified in its charter:
Bank of America Corporation
State or other jurisdiction of incorporation or organization:
Delaware
IRS Employer Identification No.:
56-0906609
Address of principal executive offices:
Bank of America Corporate Center
100 N. Tryon Street
Charlotte, North Carolina 28255
Registrant’s telephone number, including area code:
(704) 386-5681
Securities registered pursuant to section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Common Stock, par value $0.01 per share | BAC | New York Stock Exchange | ||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrE | New York Stock Exchange | ||||||
| of Floating Rate Non-Cumulative Preferred Stock, Series E | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrB | New York Stock Exchange | ||||||
| of 6.000% Non-Cumulative Preferred Stock, Series GG | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrK | New York Stock Exchange | ||||||
| of 5.875% Non-Cumulative Preferred Stock, Series HH | ||||||||
| 7.25% Non-Cumulative Perpetual Convertible Preferred Stock, Series L | BAC PrL | New York Stock Exchange | ||||||
| Depositary Shares, each representing a 1/1,200th interest in a share | BML PrG | New York Stock Exchange | ||||||
| of Bank of America Corporation Floating Rate | ||||||||
| Non-Cumulative Preferred Stock, Series 1 |
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
| Depositary Shares, each representing a 1/1,200th interest in a share | BML PrH | New York Stock Exchange | ||||||
| of Bank of America Corporation Floating Rate | ||||||||
| Non-Cumulative Preferred Stock, Series 2 | ||||||||
| Depositary Shares, each representing a 1/1,200th interest in a share | BML PrJ | New York Stock Exchange | ||||||
| of Bank of America Corporation Floating Rate | ||||||||
| Non-Cumulative Preferred Stock, Series 4 | ||||||||
| Depositary Shares, each representing a 1/1,200th interest in a share | BML PrL | New York Stock Exchange | ||||||
| of Bank of America Corporation Floating Rate | ||||||||
| Non-Cumulative Preferred Stock, Series 5 | ||||||||
| Floating Rate Preferred Hybrid Income Term Securities of BAC Capital | BAC/PF | New York Stock Exchange | ||||||
| Trust XIII (and the guarantee related thereto) | ||||||||
| 5.63% Fixed to Floating Rate Preferred Hybrid Income Term Securities | BAC/PG | New York Stock Exchange | ||||||
| of BAC Capital Trust XIV (and the guarantee related thereto) | ||||||||
| Income Capital Obligation Notes initially due December 15, 2066 of | MER PrK | New York Stock Exchange | ||||||
| Bank of America Corporation | ||||||||
| Senior Medium-Term Notes, Series A, Step Up Callable Notes, due | BAC/31B | New York Stock Exchange | ||||||
| November 28, 2031 of BofA Finance LLC (and the guarantee | ||||||||
| of the Registrant with respect thereto) | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrM | New York Stock Exchange | ||||||
| of 5.375% Non-Cumulative Preferred Stock, Series KK | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrN | New York Stock Exchange | ||||||
| of 5.000% Non-Cumulative Preferred Stock, Series LL | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrO | New York Stock Exchange | ||||||
| of 4.375% Non-Cumulative Preferred Stock, Series NN | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrP | New York Stock Exchange | ||||||
| of 4.125% Non-Cumulative Preferred Stock, Series PP | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrQ | New York Stock Exchange | ||||||
| of 4.250% Non-Cumulative Preferred Stock, Series QQ | ||||||||
| Depositary Shares, each representing a 1/1,000th interest in a share | BAC PrS | New York Stock Exchange | ||||||
| of 4.750% Non-Cumulative Preferred Stock, Series SS |
Securities registered pursuant to Section 12(g) of the Act: None
Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☑
Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. Yes ☐ No ☑
Indicate by check mark whether the registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☑ No ☐
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☑ No ☐
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
| Large accelerated filer | ☑ | Accelerated filer | ☐ | Non-accelerated filer | ☐ | Smaller reporting company | ☐ |
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. ☑
If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant included in the filing reflect the correction of an error to previously issued financial statements. ☐
Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b). ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act). Yes ☐ No ☑
As of June 30, 2025, the aggregate market value of the registrant’s common stock (Common Stock) held by non-affiliates was approximately $351,903,673,230. At February 24, 2026, there were 7,176,682,170 shares of Common Stock outstanding.
Documents incorporated by reference: Portions of the definitive proxy statement relating to the registrant’s 2026 annual meeting of shareholders are incorporated by reference in this Form 10-K in response to Items 10, 11, 12, 13 and 14 of Part III.
Table of Contents
Bank of America Corporation and Subsidiaries
| 1 Bank of America |
Part I
Bank of America Corporation and Subsidiaries