Bank of America Results Presentation Deck
Expense and Efficiency
Total Noninterest Expense ($B)
$20.0
$15.0
$10.0
$5.0
$0.0
70%
60%
$14.4
50%
5.7
Efficiency Ratio
8.7
3Q21
63%
3Q21
$14.7
5.7
9.0
4Q21
67%
4Q21
$15.3
5.8
9.5
1Q22
Compensation and benefits
66%
1Q22
Other
$15.3
6.4
8.9
2Q22¹
67%
2Q22
$15.3
6.4
8.9
3Q22¹
62%
3Q22
Noninterest expense of $15.3B in 3Q22 was relatively flat vs. 2Q22, as $354MM litigation expense for the legacy monoline
insurance settlement was largely offset by the absence of expenses recognized for certain regulatory matters in 2Q22
3Q22 expenses increased $0.9B, or 6%, vs. 3Q21, reflecting higher litigation expense, higher compensation and benefits,
investments in the business, and marketing expenses
Note: Amounts may not total due to rounding.
¹Absent the $0.4B expense for the legacy monoline insurance settlement, reported 3Q22 noninterest expense would have been $14.98. Absent $0.4B in expense for certain regulatory matters, reported 2022
noninterest expense would have been $14.8B. For important presentation information, see slide 35.
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