Bank of America Reports $8.1 Billion Adjusted Q3 Net Income

Bank of America Corporation reported adjusted net income of $8.1 billion for the third quarter of 2026, though reported net income fell to $6.9 billion after the bank took a $1.2 billion non-tax-deductible regulatory settlement charge. The fine stemmed from failures in anti-money laundering compliance and contributed to a quarter characterized by regulatory issues, weaker fee-income growth, and deteriorating operating leverage.

Despite the settlement, the bank raised its 2027 net interest income growth guidance to 8% or more, surpassing its previous target of 5% to 7%. Management attributed this outlook to fixed-rate assets repricing into higher yields and a low loan-to-deposit ratio, with $2 trillion in deposits funding $1.25 trillion in loans. The company also maintained its share repurchase program and reported growth in wealth management and healthy credit quality.

CEO Brian Moynihan stated that the bank is investing in AI capabilities to reduce technology costs and noted that client activity indicates a resilient U.S. economy. The bank continues to manage its expense base through ongoing cost remediation.