Bank of America's third-quarter net income is $6.9 billion after a settlement charge

Bank of America announced results for the third quarter ended September 30, 2026. Net income was $6.9 billion, or $0.91 per diluted share on a GAAP basis, compared with $8.3 billion, or $1.04 per share, a year earlier.

The results include a non-tax-deductible regulatory settlement charge of $1.2 billion, recorded as noninterest expense to accrue civil money penalties. The company consented to orders on certain aspects of its Bank Secrecy Act and anti-money laundering and economic sanctions compliance programs, which the Office of the Comptroller of the Currency and FinCEN announced on October 13, 2026. Excluding the charge, a non-GAAP measure, adjusted net income was $8.1 billion and adjusted EPS was $1.08.

Revenue, net of interest expense, rose 3% to $30 billion. Net interest income rose 8% to $16.4 billion, driven primarily by higher loan and deposit balances. Noninterest expense was $19.7 billion, up $2.4 billion, and the efficiency ratio was 66%. The provision for credit losses was $1.3 billion.

The company returned $8.3 billion to shareholders, including $2.2 billion in common stock dividends and $6 billion in common stock repurchases. Its standardized CET1 ratio was 10.9% at September 30, 2026, a preliminary figure, compared with 11.6% a year earlier.