Bank of America Posts Third-Quarter Earnings Miss After $1.2 Billion Charge

Bank of America Corp. (NYSE: BAC) shares fell more than 5% in premarket trading Wednesday after the bank reported weaker-than-expected third-quarter 2026 results. 2 billion regulatory settlement charge and lower investment banking revenue. 3 billion a year earlier, and earnings per share were 91 cents.

11. 69 billion estimate. Consumer spending remained resilient despite the earnings shortfall. Debit and credit card spending rose 8% to 266 billion during the quarter.

44 billion a year earlier. 27 billion. 65 billion. 3 billion.

8 billion. 2 billion, or 17 cents per share, weighed on results. Chief Financial Officer Alastair Borthwick said the bank had worked with regulators to resolve outstanding issues and completed much of the work required under its consent order. The charge pushed expenses higher, with the efficiency ratio increasing to 66% from 60% a year earlier.

Borthwick said investment banking deal pipelines remained strong, although revenue weakened in some fixed-income businesses, including mortgages, municipal securities and credit. 02 trillion. The bank reported commercial lending growth across every client segment. Activity also remained strong in consumer, wealth management, business and commercial banking.

6% a year earlier. 16. 2 billion in dividends and $6 billion through share repurchases. It also reported improving asset quality and said its liquidity and capital positions remained strong.

### Bank of America Expands AI Adoption More than 200,000 employees now use Bank of America’s artificial intelligence tools across over 300 approved applications, the bank said. It sees AI as a potential way to improve productivity and make its operational scale a competitive advantage. 05 in Wednesday’s premarket trading, according to Pro data.