# JPMorgan Chase (JPM) 8-K SEC filing

- Filed: Jul 14, 2026, 6:30 AM EDT
- Accession: 0001628280-26-048078
- OpenCapital page: https://www.opencapital.sh/filings/0001628280-26-048078
- Markdown URL: https://www.opencapital.sh/filings/0001628280-26-048078.md
- Official SEC filing index: https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/0001628280-26-048078-index.htm

## Filing documents

- [8-K (jpm-20260714.htm)](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/jpm-20260714.htm)
- [JPMORGAN CHASE & CO. EARNINGS RELEASE - SECOND QUARTER 2026 RESULTS (a2q26erfexhibit991narrative.htm)](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/a2q26erfexhibit991narrative.htm)
- [JPMORGAN CHASE & CO. EARNINGS RELEASE FINANCIAL SUPPLEMENT - SECOND QUARTER 2026 (a2q26erfex992supplement.htm)](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/a2q26erfex992supplement.htm)

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## 8-K

SEC source: [jpm-20260714.htm](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/jpm-20260714.htm)

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

### Date of Report (date of earliest event reported): July 14, 2026

JPMorgan Chase & Co.

(Exact name of registrant as specified in its charter)

|  |  |  |
| --- | --- | --- |
| Delaware | 1-5805 | 13-2624428 |
| (State or other jurisdiction ofincorporation or organization) | (Commission File Number) | (I.R.S. employeridentification no.) |
| 270 Park Avenue, |  |  |
| New York |  | 10017 |
| (Address of principal executive offices) |  | (Zip Code) |

Registrant’s telephone number, including area code: (212) 270-6000

### Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 JPM The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 5.75% Non-Cumulative Preferred Stock, Series DD JPM PR D The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 6.00% Non-Cumulative Preferred Stock, Series EE JPM PR C The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 4.75% Non-Cumulative Preferred Stock, Series GG JPM PR J The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 4.55% Non-Cumulative Preferred Stock, Series JJ JPM PR K The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 4.625% Non-Cumulative Preferred Stock, Series LL JPM PR L The New York Stock Exchange

Depositary Shares, each representing a one-four hundredth interest in a share of 4.20% Non-Cumulative Preferred Stock, Series MM JPM PR M The New York Stock Exchange

Guarantee of Callable Fixed Rate Notes due June 10, 2032 of JPMorgan Chase Financial Company LLC JPM/32 The New York Stock Exchange

Guarantee of Alerian MLP Index ETNs due January 28, 2044 of JPMorgan Chase Financial Company LLC AMJB NYSE Arca, Inc.

Guarantee of Inverse VIX Short-Term Futures ETNs due March 22, 2045 of JPMorgan Chase Financial Company LLC VYLD NYSE Arca, Inc.

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

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. ☐

## Item 2.02 Results of Operations and Financial Condition

On July 14, 2026, JPMorgan Chase & Co. (“JPMorganChase” or the “Firm”) reported 2026 second quarter net income of $21.2 billion, or $7.70 per share, compared with net income of $15.0 billion, or $5.24 per share, in the second quarter of 2025. A copy of the 2026 second quarter earnings release is attached hereto as Exhibit 99.1, and a copy of the earnings release financial supplement is attached hereto as Exhibit 99.2.

Each of the Exhibits provided with this Form 8-K shall be deemed to be “filed” for purposes of the Securities Exchange Act of 1934.

This Current Report on Form 8-K (including the Exhibits hereto) contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of JPMorganChase’s management, speak only as of the date on which they were made, and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorganChase’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorganChase’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which have been filed with the Securities and Exchange Commission and are available on JPMorganChase’s website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview) and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorganChase does not undertake to update any forward-looking statements.

## Item 9.01 Financial Statements and Exhibits

(d) Exhibits

| Exhibit No. | Description of Exhibit |
| --- | --- |
| 99.1 | JPMorgan Chase & Co. Earnings Release - Second Quarter 2026 Results |
| 99.2 | JPMorgan Chase & Co. Earnings Release Financial Supplement - Second Quarter 2026 |
| 101 | Pursuant to Rule 406 of Regulation S-T, the cover page is formatted in Inline XBRL (Inline eXtensible Business Reporting Language). |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document and included in Exhibit 101). |

### SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

JPMorgan Chase & Co.

(Registrant)

By: /s/ Elena Korablina

Elena Korablina

Managing Director and Firmwide Controller

(Principal Accounting Officer)

Dated: July 14, 2026

---

## JPMORGAN CHASE & CO. EARNINGS RELEASE - SECOND QUARTER 2026 RESULTS

SEC source: [a2q26erfexhibit991narrative.htm](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/a2q26erfexhibit991narrative.htm)

Exhibit 99.1

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| --- | --- | --- | --- | --- | --- |
| JPMorgan Chase & Co. 270 Park Avenue, New York, NY 10017-2070 NYSE symbol: JPM www.jpmorganchase.com | | | | | |

JPMORGANCHASE REPORTS SECOND-QUARTER 2026 NET INCOME OF $21.2 BILLION ($7.70 PER SHARE), NET INCOME EXCLUDING SIGNIFICANT ITEMS OF $16.9 BILLION ($6.14 PER SHARE)

SECOND-QUARTER 2026 RESULTS¹

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| ROE 24% ROTCE² 29% ROTCE ex. significant items² 23% | | | | | | | | | CET1 Capital Ratios³ Std. 14.1% \| Adv. 14.2% Total Loss-Absorbing Capacity³ $590B | | | | | | | | | Std. RWA³ $2.1T Cash and marketable securities⁴ $1.5T Average loans $1.5T | | |

Firmwide Metrics

CCB

### ROE 34%

CIB

### ROE 22%

AWM

### ROE 48%

n n n n n n n n n n n n n Reported revenue of $57.3 billion and managed revenue² of $58.0 billion Expense of $27.3 billion; reported overhead ratio of 48% and managed overhead ratio² of 47% Credit costs of $2.5 billion with $2.4 billion of net charge-offs and a $149 million net reserve build Average loans up 10% YoY, up 2% QoQ; average deposits up 7% YoY, up 3% QoQ Average deposits up 3% YoY, up 2% QoQ; client investment assets up 21% YoY Average loans up 2% YoY, up 1% QoQ; Card Services net charge-off rate of 3.34% Debit and credit card sales volume⁵ up 10% YoY Active mobile customers⁶ up 6% YoY Investment Banking fees up 30% YoY, up 14% QoQ; #1 ranking for Global Investment Banking fees with 9.3% wallet share YTD⁷ Markets revenue up 35% YoY, with Fixed Income Markets up 6% and Equity Markets up 86% Average Banking & Payments loans up 13% YoY, up 5% QoQ; average client deposits⁸ up 11% YoY, up 3% QoQ AUM⁹ of $5.1 trillion, up 18% YoY Average loans up 18% YoY, up 6% QoQ; average deposits up 5% YoY, up 3% QoQ

| | | |
| --- | --- | --- |
| Jamie Dimon, Chairman and CEO, commented on the financial results: “The Firm reported very strong results in the quarter, generating net income of $16.9 billion and an ROTCE of 23%, excluding gains related to Visa and certain equity investments. These results were the product of a particularly favorable environment with an elevated level of market activity, as well as rigorous execution, years of consistent investment and thoughtful capital deployment.” Dimon continued: “Performance was strong across the Firm, and revenue in each line of business hit a new record. In the CIB, revenue grew 27% and outperformed our expectations, with Markets revenue growing 35% due to elevated client activity, strong trading performance and continued demand for financing in Equities. IB activity also accelerated, with IB fees jumping 30% to the highest level since 2021, and market sentiment remains constructive for continued activity. Additionally, Payments and Securities Services each posted double-digit revenue growth led by ongoing deposit and fee growth. In CCB, revenue rose 8%, and we continued to add customers at a sustained pace across the franchise. In wealth management, first-time investors of nearly 44,000 set a new record. Additionally, Card annual fees grew more than 30%, reflecting healthy retention levels after recent product refreshes as well as demand for our premium products. Finally, in AWM, revenue increased 19%, and flows remained robust with $50 billion of long-term AUM net inflows, helping to drive AUM to over $5 trillion.” Dimon added: “The U.S. economy has demonstrated notable resiliency this year, with stronger business investment and hiring. This strength is being supported by several tailwinds, including AI-driven capital investment, fiscal stimulus and the benefits of more efficient regulation. However, several risks are shifting below the surface like tectonic plates, including geopolitical tensions and wars, sticky inflation, large global fiscal deficits and elevated asset prices. We cannot predict how these forces will ultimately play out. They may remain manageable, but they could also cause meaningful disruptions when they shift or collide. We carefully monitor these risks and prepare the Firm for a wide range of scenarios to ensure that we can serve our customers and clients consistently in all environments.” Dimon concluded: “I want to express my deep gratitude to our employees across the globe for how they work to support our customers and communities every single day.” | | |

### SIGNIFICANT ITEMS IN 2Q26 RESULTS

n $4.6 billion net gain related to Visa shares¹⁰ ($1.27 increase in EPS¹¹ ) n $1.0 billion of gains on certain equity investments¹² ($0.29 increase in EPS)

### CAPITAL DISTRIBUTIONS

n Common dividend of $4.0 billion or $1.50 per share n $6.2 billion of common stock net repurchases¹³ n Net payout LTM13,14 of 73%

### FORTRESS PRINCIPLES

n Book value per share of $133.01, up 9% YoY; tangible book value per share² of $113.35, up 10% YoY n Basel III common equity Tier 1 capital³ of $303 billion, Standardized ratio³ of 14.1% and Advanced ratio³ of 14.2% n Firm supplementary leverage ratio of 5.5%

SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES

n Approximately $1.9 trillion of credit and capital¹⁵ raised YTD:

n$160 billion of credit for consumers n$17 billion of credit for U.S. small businesses n$1.7 trillion of credit and capital for corporations and non-U.S. government entities n$52 billion of credit and capital for nonprofit and U.S. government entities, including states, municipalities, hospitals and universities

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| --- | --- | --- | --- | --- | --- |
| Investor Contact: Mikael Grubb (212) 270-2479 | | | Media Contact: Joseph Evangelisti (212) 270-7438 | | |
| Note: Totals may not sum due to rounding. ¹ Percentage comparisons are for the second quarter of 2026 versus the prior-year second quarter, unless otherwise specified. ² For notes on non-GAAP financial measures, including managed basis reporting, see page 6. For additional notes, see page 7. | | | | | |

JPMorgan Chase & Co.

In the discussion below of Firmwide results of JPMorgan Chase & Co. (“JPMorganChase” or the “Firm”), information is presented on a managed basis, which is a non-GAAP financial measure, unless otherwise specified. The discussion below of the Firm’s business segments and Corporate is also presented on a managed basis. For more information about managed basis and non-GAAP financial measures used by management to evaluate the performance of each line of business, refer to page 6.

Comparisons noted in the sections below are for the second quarter of 2026 versus the prior-year second quarter, unless otherwise specified.

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| JPMORGANCHASE (JPM) | | | | | | | | | | | | | | |

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Results for JPM |  |  |  |  |  |  | 1Q26 |  |  | 2Q25 |  |  |
| ($ millions, except per share data) | 2Q26 |  | 1Q26 |  | 2Q25 |  | $ O/(U) |  | O/(U) % | $ O/(U) |  | O/(U) % |
| Net revenue - reported | $ | $57,347 | $ | $49,836 | $ | $44,912 | $ | $7,511 | 15% | $ | $12,435 | 28% |
| Net revenue - managed | 58,022 |  | 50,536 |  | 45,680 |  | 7,486 |  | 15 | 12,342 |  | 27 |
| Noninterest expense | 27,316 |  | 26,850 |  | 23,779 |  | 466 |  | 2 | 3,537 |  | 15 |
| Provision for credit losses | 2,515 |  | 2,507 |  | 2,849 |  | 8 |  | — | (334) |  | (12) |
| Net income | $ | $21,155 | $ | $16,494 | $ | $14,987 | $ | $4,661 | 28% | $ | $6,168 | 41% |
| Earnings per share - diluted | $ | $7.70 | $ | $5.94 | $ | $5.24 | $ | $1.76 | 30% | $ | $2.46 | 47% |
| Return on common equity | 24 |  | 19 |  | 18 |  |  |  |  |  |  |  |
| Return on tangible common equity | 29 |  | 23 |  | 21 |  |  |  |  |  |  |  |

### Discussion of Results:

Net income was $21.2 billion, up 41%, or up 13% excluding significant items.² The significant items, each in the current quarter, consisted of a $4.6 billion net gain related to Visa shares in Corporate as well as $1.0 billion of gains on certain equity investments, of which $763 million was in Corporate and $263 million was in CIB.

Net revenue was $58.0 billion, up 27%, or up 15% excluding significant items. Net interest income was $25.6 billion, up 10%. Noninterest revenue was $32.4 billion, up 45%, or up 20% excluding significant items.

Net interest income excluding Markets² was $23.7 billion, up 4%, driven by higher deposit balances, higher revolving balances in Card Services and higher wholesale loan balances, largely offset by the impact of lower rates. Noninterest revenue excluding Markets² was $22.3 billion, up 59%, or up 19% also excluding significant items, largely driven by higher asset management fees in AWM and CCB, higher Investment Banking revenue and higher auto operating lease income, partially offset by higher net investment securities losses. Markets revenue was $12.1 billion, up 35%, predominantly driven by higher Equity Markets revenue.

Noninterest expense was $27.3 billion, up 15%, predominantly driven by higher compensation, including higher revenue-related compensation and growth in the number of front office employees, as well as higher brokerage expense and distribution fees, higher marketing expense, higher technology expense and higher occupancy expense.

The provision for credit losses was $2.5 billion. Net charge-offs were $2.4 billion, down $44 million. The net reserve build was $149 million, primarily in Wholesale. In the prior year, the provision was $2.8 billion, net charge-offs were $2.4 billion and the net reserve build was $439 million.

The prior year included a $774 million income tax benefit in Corporate.

JPMorgan Chase & Co.

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| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| CONSUMER & COMMUNITY BANKING (CCB) | | | | | | | | | | | | | | |

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Results for CCB |  |  |  |  |  |  | 1Q26 |  |  | 2Q25 |  |  |
| ($ millions) | 2Q26 |  | 1Q26 |  | 2Q25 |  | $ O/(U) |  | O/(U) % | $ O/(U) |  | O/(U) % |
| Net revenue | $ | $20,272 | $ | $19,568 | $ | $18,847 | $ | $704 | 4% | $ | $1,425 | 8% |
| Banking & Wealth Management | 11,229 |  | 10,577 |  | 10,698 |  | 652 |  | 6 | 531 |  | 5 |
| Home Lending | 1,285 |  | 1,232 |  | 1,250 |  | 53 |  | 4 | 35 |  | 3 |
| Card Services & Auto | 7,758 |  | 7,759 |  | 6,899 |  | (1) |  | — | 859 |  | 12 |
| Noninterest expense | 11,108 |  | 10,979 |  | 9,858 |  | 129 |  | 1 | 1,250 |  | 13 |
| Provision for credit losses | 2,156 |  | 2,050 |  | 2,082 |  | 106 |  | 5 | 74 |  | 4 |
| Net income | $ | $5,311 | $ | $4,976 | $ | $5,169 | $ | $335 | 7% | $ | $142 | 3% |

### Discussion of Results:

Net income was $5.3 billion, up 3%.

Net revenue was $20.3 billion, up 8%. Banking & Wealth Management net revenue was $11.2 billion, up 5%, largely driven by higher asset management fees in J.P. Morgan Wealth Management and higher deposit-related fees. Home Lending net revenue was $1.3 billion, up 3%, driven by higher net interest income. Card Services & Auto net revenue was $7.8 billion, up 12%, predominantly driven by higher Card Services net interest income, largely on higher revolving balances, as well as higher auto operating lease income.

Noninterest expense was $11.1 billion, up 13%, predominantly driven by higher marketing expense, higher compensation for advisors and bankers, higher technology expense and higher auto lease depreciation.

The provision for credit losses was $2.2 billion. Net charge-offs were $2.2 billion, up $70 million, predominantly driven by Card Services. Reserves were flat. In the prior year, the provision was $2.1 billion, net charge-offs were $2.1 billion and reserves were relatively flat.

JPMorgan Chase & Co.

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| COMMERCIAL & INVESTMENT BANK (CIB) | | | | | | | | | | | | | | |

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Results for CIB |  |  |  |  |  |  | 1Q26 |  |  | 2Q25 |  |  |
| ($ millions) | 2Q26 |  | 1Q26 |  | 2Q25 |  | $ O/(U) |  | O/(U) % | $ O/(U) |  | O/(U) % |
| Net revenue | $ | $24,853 | $ | $23,379 | $ | $19,535 | $ | $1,474 | 6% | $ | $5,318 | 27% |
| Banking & Payments | 11,162 |  | 10,425 |  | 9,248 |  | 737 |  | 7 | 1,914 |  | 21 |
| Markets & Securities Services | 13,691 |  | 12,954 |  | 10,287 |  | 737 |  | 6 | 3,404 |  | 33 |
| Noninterest expense | 11,390 |  | 11,136 |  | 9,641 |  | 254 |  | 2 | 1,749 |  | 18 |
| Provision for credit losses | 356 |  | 482 |  | 696 |  | (126) |  | (26) | (340) |  | (49) |
| Net income | $ | $9,678 | $ | $9,044 | $ | $6,650 | $ | $634 | 7% | $ | $3,028 | 46% |

### Discussion of Results:

Net income was $9.7 billion, up 46%.

Net revenue was $24.9 billion, up 27%. Banking & Payments revenue was $11.2 billion, up 21%. Investment Banking revenue was $3.9 billion, up 45%, predominantly driven by higher Investment Banking fees and net gains on equity investments. Investment Banking fees were $3.3 billion, up 30%, driven by higher fees across all products, with particularly strong performance in equity underwriting fees. Payments revenue was $5.3 billion, up 12%, predominantly driven by higher deposit balances and fee growth. Lending revenue was $2.0 billion, up 7%, largely driven by higher loan balances.

Markets & Securities Services revenue was $13.7 billion, up 33%. Markets revenue was $12.1 billion, up 35%. Fixed Income Markets revenue was $6.1 billion, up 6%, driven by higher revenue in Credit, Currencies & Emerging Markets and Rates, partially offset by lower revenue in Commodities. Equity Markets revenue was $6.0 billion, up 86%, driven by strong performance across products and regions. Securities Services revenue was $1.7 billion, up 17%, predominantly driven by fee growth on higher market levels and client activity, as well as higher deposit balances.

Noninterest expense was $11.4 billion, up 18%, predominantly driven by higher compensation, including higher revenue-related compensation, as well as higher brokerage expense.

The provision for credit losses was $356 million, driven by net lending activity and changes in the credit quality of certain exposures, partially offset by a reserve release for certain accounts receivable and an update to loss assumptions on certain loans in Markets. Net charge-offs were $207 million, and the net reserve build was $149 million. In the prior year, the provision was $696 million, the net reserve build was $371 million and net charge-offs were $325 million.

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| ASSET & WEALTH MANAGEMENT (AWM) | | | | | | | | | | | | | | |

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Results for AWM |  |  |  |  |  |  | 1Q26 |  |  | 2Q25 |  |  |
| ($ millions) | 2Q26 |  | 1Q26 |  | 2Q25 |  | $ O/(U) |  | O/(U) % | $ O/(U) |  | O/(U) % |
| Net revenue | $ | $6,851 | $ | $6,374 | $ | $5,760 | $ | $477 | 7% | $ | $1,091 | 19% |
| Noninterest expense | 4,207 |  | 4,167 |  | 3,733 |  | 40 |  | 1 | 474 |  | 13 |
| Provision for credit losses | 13 |  | (24) |  | 46 |  | 37 |  | NM | (33) |  | (72) |
| Net income | $ | $1,957 | $ | $1,775 | $ | $1,473 | $ | $182 | 10% | $ | $484 | 33% |

### Discussion of Results:

Net income was $2.0 billion, up 33%.

Net revenue was $6.9 billion, up 19%, driven by growth in management fees on higher average market levels and strong net inflows, as well as investment valuation gains, higher loan balances and higher brokerage activity.

Noninterest expense was $4.2 billion, up 13%, largely driven by higher compensation, primarily due to higher revenue-related compensation and continued growth in private banking advisor teams, as well as higher distribution fees.

Assets under management were $5.1 trillion, up 18%, and client assets were $7.7 trillion, up 19%, driven by higher market levels and continued net inflows.

JPMorgan Chase & Co.

**\|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \|  \| \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| --- \| \| CORPORATE \| \| \| \| \| \| \| \| \| \| \| \| \| \| \|**

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| Results for Corporate |  |  |  |  |  |  | 1Q26 |  |  | 2Q25 |  |  |
| ($ millions) | 2Q26 |  | 1Q26 |  | 2Q25 |  | $ O/(U) |  | O/(U) % | $ O/(U) |  | O/(U) % |
| Net revenue | $ | $6,046 | $ | $1,215 | $ | $1,538 | $ | $4,831 | 398% | $ | $4,508 | 293% |
| Noninterest expense | 611 |  | 568 |  | 547 |  | 43 |  | 8 | 64 |  | 12 |
| Provision for credit losses | (10) |  | (1) |  | 25 |  | (9) |  | NM | (35) |  | NM |
| Net income | $ | $4,209 | $ | $699 | $ | $1,695 | $ | $3,510 | NM | $ | $2,514 | 148% |

### Discussion of Results:

Net income was $4.2 billion, up $2.5 billion, or down $1.5 billion excluding significant items, driven by lower net interest income and reflecting the absence of a $774 million income tax benefit in the prior year.

Net revenue was $6.0 billion, up $4.5 billion, or down $805 million excluding significant items. Net interest income was $822 million, down $667 million, predominantly driven by the impact of lower rates. Noninterest revenue was $5.2 billion, up $5.2 billion, or down $138 million excluding significant items. The decrease includes the impact of higher net investment securities losses.

Noninterest expense was $611 million, up $64 million.

JPMorgan Chase & Co.

### 2. Notes on non-GAAP financial measures:

a.The Firm prepares its Consolidated Financial Statements in accordance with accounting principles generally accepted in the U.S. (“U.S. GAAP”). That presentation, which is referred to as “reported” basis, provides the reader with an understanding of the Firm’s results that can be tracked consistently from year-to-year and enables a comparison of the Firm’s performance with the U.S. GAAP financial statements of other companies. In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the lines of business on a managed basis. The Firm’s definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm as a whole and for each of the reportable business segments and Corporate on a fully taxable-equivalent basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by each of the lines of business and Corporate. For a reconciliation of the Firm’s results from a reported to managed basis, refer to page 7 of the Earnings Release Financial Supplement.

b.Tangible common equity (“TCE”), return on tangible common equity (“ROTCE”) and tangible book value per share (“TBVPS”) are each non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total stockholders’ equity less preferred stock) less goodwill and identifiable intangible assets (other than mortgage servicing rights), net of related deferred tax liabilities. For a reconciliation from common stockholders’ equity to TCE, refer to page 10 of the Earnings Release Financial Supplement. ROTCE measures the Firm’s net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by common shares at period-end. Book value per share was $133.01, $128.38 and $122.51 at June 30, 2026, March 31, 2026 and June 30, 2025, respectively. TCE, ROTCE and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm’s use of equity.

c.In addition to reviewing net interest income (“NII”) and noninterest revenue (“NIR”) on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets and Equity Markets. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For a reconciliation of NII and NIR from reported to excluding Markets, refer to page 28 of the Earnings Release Financial Supplement. For additional information on Markets revenue, refer to pages 73-74 of the Firm’s 2025 Form 10-K.

d.The significant items, each in the current quarter, collectively refer to a $4.6 billion net gain related to Visa shares in Corporate as well as $1.0 billion of gains on certain equity investments, of which $763 million was in Corporate and $263 million was in CIB. Results excluding significant items are non-GAAP financial measures. Excluding these items from second-quarter 2026 net income, earnings per share and ROTCE resulted in a decrease of $4.2 billion (after tax) to reported net income from $21.2 billion to $16.9 billion, a decrease of $1.56 per share to reported EPS from $7.70 to $6.14 and a decrease of 6 percentage points to reported ROTCE from 29% to 23%. Management believes these measures provide useful information to investors and analysts in assessing the Firm’s results.

JPMorgan Chase & Co.

Additional notes:

3.Estimated.

4.Estimated. Cash and marketable securities include end-of-period eligible high-quality liquid assets (“HQLA”), excluding regulatory prescribed haircuts under the liquidity coverage ratio (“LCR”) rule where applicable, for both the Firm and the excess HQLA-eligible securities included as part of the excess liquidity at JPMorgan Chase Bank, N.A., which are not transferable to non-bank affiliates and thus excluded from the Firm’s LCR. Also include other end-of-period unencumbered marketable securities, such as equity and debt securities. Does not include borrowing capacity at Federal Home Loan Banks and the discount window at the Federal Reserve Bank. Refer to Liquidity Risk Management on pages 41-47 of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026 and pages 100-107 of the Firm’s 2025 Form 10-K for additional information.

5.Excludes Commercial Card.

6.Users of all mobile platforms who have logged in within the past 90 days.

7.According to Dealogic as of July 1, 2026.

8.Client deposits and other third party liabilities (“client deposits”) pertain to the Payments and Securities Services businesses.

9.Assets under management (“AUM”).

10.On April 13, 2026, Visa Inc. commenced an exchange offer for Visa Class B-2 common stock. On May 11, 2026, Visa accepted the Firm’s tender of its 18.6 million Visa Class B-2 common stock in exchange for a combination of Visa Class B-3 common stock and Visa Class C common stock. Visa’s acceptance resulted in a gain for the Firm relating to the Visa Class C common stock, which is held at fair value.

11.Earnings Per Share (“EPS”).

12.Represented a measurement alternative markup on an equity investment and initial gains on transition from measurement alternative to recurring fair value on certain other equity investments.

13.Includes the net impact of employee issuances. Excludes excise tax and commissions.

14.Last twelve months (“LTM”).

15.Credit provided to clients represents new and renewed credit, including loans and lending-related commitments, as well as unused amounts of advised uncommitted lines of credit where the Firm has discretion on whether or not to make a loan under these lines. Credit and capital for corporations and non-U.S. government entities includes Individuals and Individual Entities primarily consisting of Global Private Bank clients within AWM.

JPMorgan Chase & Co.

JPMorgan Chase & Co. (NYSE: JPM) is a leading financial services firm based in the United States of America (“U.S.”), with operations worldwide. JPMorganChase had $5.0 trillion in assets and $375 billion in stockholders’ equity as of June 30, 2026. The Firm is a leader in investment banking, financial services for consumers and small businesses, commercial banking, financial transaction processing and asset management. Under the J.P. Morgan and Chase brands, the Firm serves millions of customers predominantly in the U.S., and many of the world’s most prominent corporate, institutional and government clients globally. Information about JPMorgan Chase & Co. is available at www.jpmorganchase.com.

JPMorgan Chase & Co. will host a conference call today, July 14, 2026, at 8:30 a.m. (ET) to present second-quarter 2026 financial results. The general public can access the conference call by dialing the following numbers: 1 (888) 324-3618 in the U.S. and Canada; +1 (312) 470-7119 for international callers; use passcode 1364784#. Please dial in 15 minutes prior to the start of the call. The live audio webcast and presentation slides will be available on the Firm’s website, www.jpmorganchase.com, under Investor Relations, Events & Presentations.

A replay of the conference call also will be available by telephone beginning at approximately 11:00 a.m. (ET) on July 14, 2026 through 11:59 p.m. (ET) on July 29, 2026 at 1 (800) 391-9851 (U.S. and Canada); +1 (203) 369-3268 (International); use passcode 67371#. The replay will be available via webcast on www.jpmorganchase.com under Investor Relations, Events & Presentations. Additional detailed financial, statistical and business-related information is included in a financial supplement. The earnings release and the financial supplement are available at www.jpmorganchase.com.

This earnings release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on the beliefs and expectations of JPMorgan Chase & Co.’s management, speak only as of the date on which they were made, and are subject to significant risks and uncertainties. Actual results may differ from those set forth in the forward-looking statements. Factors that could cause JPMorgan Chase & Co.’s actual results to differ materially from those described in the forward-looking statements can be found in JPMorgan Chase & Co.’s Annual Report on Form 10-K for the year ended December 31, 2025 and Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, which have been filed with the Securities and Exchange Commission and are available on JPMorgan Chase & Co.’s website (https://jpmorganchaseco.gcs-web.com/ir/sec-other-filings/overview), and on the Securities and Exchange Commission’s website (www.sec.gov). JPMorgan Chase & Co. does not undertake to update any forward-looking statements.

---

## JPMORGAN CHASE & CO. EARNINGS RELEASE FINANCIAL SUPPLEMENT - SECOND QUARTER 2026

SEC source: [a2q26erfex992supplement.htm](https://www.sec.gov/Archives/edgar/data/19617/000162828026048078/a2q26erfex992supplement.htm)

Exhibit 99.2

**EARNINGS RELEASE FINANCIAL SUPPLEMENT**

**SECOND QUARTER 2026**

| JPMORGAN CHASE & CO. / TABLE OF CONTENTS / Consolidated Results | Page(s) |
| --- | --- |
| Consolidated Financial Highlights | 2–3 |
| Consolidated Statements of Income | 4 |
| Consolidated Balance Sheets | 5 |
| Condensed Average Balance Sheets and Annualized Yields | 6 |
| Reconciliation from Reported to Managed Basis | 7 |
| Segment & Corporate Results - Managed Basis | 8 |
| Capital and Other Selected Balance Sheet Items | 9–10 |
| Earnings Per Share and Related Information | 11 |
| Business Segment & Corporate Results |  |
| Consumer & Community Banking (“CCB”) | 12–15 |
| Commercial & Investment Bank (“CIB”) | 16–19 |
| Asset & Wealth Management (“AWM”) | 20–22 |
| Corporate | 23 |
| Credit-Related Information | 24-27 |
| Non-GAAP Financial Measures | 28 |
| Glossary of Terms and Acronyms (a) |  |

(a) Refer to the Glossary of Terms and Acronyms on pages 320–327 of JPMorgan Chase & Co.’s (the “Firm’s”) Annual Report on Form 10-K for the year ended December 31, 2025 (the “2025 Form 10-K”) and the Glossary of Terms and Acronyms and Line of Business Metrics on pages 170-176 and pages 177-178, respectively, of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026.

| JPMORGAN CHASE & CO. / CONSOLIDATED FINANCIAL HIGHLIGHTS / (in millions, except per share and ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
| SELECTED INCOME STATEMENT DATA | 2Q25 | 2025 |
| Reported Basis |  |  |
| Total net revenue | $$$$$44,912%% | $$90,222% |
| Total noninterest expense | 23,779 | 47,376 |
| Pre-provision profit (a) | 21,133 | 42,846 |
| Provision for credit losses | 2,849 | 6,154 |
| NET INCOME | 14,987 | 29,630 |
| Managed Basis (b) |  |  |
| Total net revenue | 45,680 | 91,694 |
| Total noninterest expense | 23,779 | 47,376 |
| Pre-provision profit (a) | 21,901 | 44,318 |
| Provision for credit losses | 2,849 | 6,154 |
| NET INCOME | 14,987 | 29,630 |
| EARNINGS PER SHARE DATA |  |  |
| Net income: Basic | $$$$$5.25 | $$10.32 |
| Diluted | 5.24 | 10.31 |
| Average shares: Basic | 2,788.7 | 2,804.0 |
| Diluted | 2,793.7 | 2,809.0 |
| MARKET AND PER COMMON SHARE DATA |  |  |
| Market capitalization | $$$$$797,181 | $$797,181 |
| Common shares at period-end | 2,749.7 | 2,749.7 |
| Book value per share | $$$$$122.51 | $$122.51 |
| Tangible book value per share (“TBVPS”) (a) | 103.40 | 103.40 |
| Cash dividends declared per share | 1.40 | 2.80 |
| FINANCIAL RATIOS (c) |  |  |
| Return on common equity (“ROE”) | 18%%%%% | 18%% |
| Return on tangible common equity (“ROTCE”) (a) | 21 | 21 |
| Return on assets | 1.35 | 1.38 |
| CAPITAL RATIOS |  |  |
| Common equity Tier 1 (“CET1”) capital ratio - Standardized (d) | 15.1%%%%% | 15.1%% |
| Tier 1 capital ratio - Standardized (d) | 16.1 | 16.1 |
| Total capital ratio - Standardized (d) | 17.8 | 17.8 |
| Tier 1 leverage ratio | 6.9 | 6.9 |
| Supplementary leverage ratio (“SLR”) | 5.9 | 5.9 |

On January 7, 2026, JPMorganChase announced that Chase will become the new issuer of Apple Card. The Firm entered into a forward purchase commitment on December 30, 2025 to acquire the Apple credit card portfolio (the “Apple Card transaction”), with an expected closing date approximately 24 months thereafter. Refer to Notes 4, 13, 27 and 28 of the Firm’s 2025 Form 10-K for additional information.

(a)Pre-provision profit, TBVPS and ROTCE are each non-GAAP financial measures. Tangible common equity (“TCE”) is also a non-GAAP financial measure; refer to page 10 for a reconciliation of common stockholders’ equity to TCE. Refer to page 28 for a further discussion of these measures.

(b)Refer to Reconciliation from Reported to Managed Basis on page 7 for a further discussion of managed basis.

(c)Ratios are based upon annualized amounts.

(d)At June 30, 2026, the Advanced total capital ratio was more binding on the Firm than the Standardized total capital ratio. At each of March 31, 2026 and December 31, 2025, the Advanced risk-based ratios were more binding on the Firm than the Standardized risk-based ratios. Refer to page 9 for further information on the Firm’s capital metrics.

(e)Included a $4.6 billion net gain in Corporate related to Visa Class C common stock held at fair value and received by the Firm in an exchange offer following the acceptance by Visa Inc. on May 11, 2026 of the Firm’s tender of its 18.6 million shares of Visa Class B-2 common stock. Also included $1.0 billion of gains, which represented a measurement alternative markup on an equity investment and initial gains on transition from measurement alternative to recurring fair value on certain other equity investments, in Corporate and CIB. Refer to page 8 and Note 2 of JPMorganChase’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026 for further information on the Visa exchange offer.

(f)Estimated.

(g)Included $2.2 billion associated with the Apple Card transaction. Refer to Note 13 of the Firm’s 2025 Form 10-K for additional information.

| JPMORGAN CHASE & CO. / CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratios, employee data and where otherwise noted) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| SELECTED BALANCE SHEET DATA (period-end) |  |  |
| Total assets | $$$$$10%% | $$10% |
| Loans: |  |  |
| Consumer, excluding credit card loans | (1) | (1) |
| Credit card loans | 7 | 7 |
| Wholesale loans | 15 | 15 |
| Total loans | 9 | 9 |
| Deposits: |  |  |
| U.S. offices: |  |  |
| Noninterest-bearing | 6 | 6 |
| Interest-bearing | 4 | 4 |
| Non-U.S. offices: |  |  |
| Noninterest-bearing | 40 | 40 |
| Interest-bearing | 9 | 9 |
| Total deposits | 6 | 6 |
| Long-term debt | 10 | 10 |
| Common stockholders’ equity | 5 | 5 |
| Total stockholders’ equity | 5 | 5 |
| Loans-to-deposits ratio |  |  |
| Employees | 1 | 1 |
| 95% CONFIDENCE LEVEL - TOTAL VaR |  |  |
| Average VaR | $$$$$17 |  |
| Earnings-at-Risk (in billions) (a) |  |  |
| Parallel shift: |  |  |
| +100 bps shift in rates | $$$$$2 |  |
| -100 bps shift in rates | (21) |  |
| LINE OF BUSINESS (“LOB”) & CORPORATE NET REVENUE (b) |  |  |
| Consumer & Community Banking | $$$$$8 | $$7 |
| Commercial & Investment Bank | 27 | 23 |
| Asset & Wealth Management | 19 | 15 |
| Corporate | 293 | 89 |
| TOTAL NET REVENUE | $$$$$27 | $$18 |
| LOB & CORPORATE NET INCOME |  |  |
| Consumer & Community Banking | $$$$$3 | $$7 |
| Commercial & Investment Bank | 46 | 38 |
| Asset & Wealth Management | 33 | 22 |
| Corporate | 148 | 45 |
| NET INCOME | $$$$$41 | $$27 |

(a)Earnings-at-risk estimates the Firm’s interest rate exposure for a given interest rate scenario. The Firm’s actual net interest income results may differ compared to the instantaneous rate changes modelled in the earnings-at-risk estimates. Refer to pages 140-141 of the Firm’s 2025 Form 10-K for additional information.

(b)Refer to Reconciliation from Reported to Managed Basis on page 7 for a further discussion of managed basis.

(c)Estimated.

| JPMORGAN CHASE & CO. / CONSOLIDATED STATEMENTS OF INCOME / (in millions, except per share and ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
| REVENUE | 2Q25 | 2025 |
| Investment banking fees | $$$$$2,499%% | $$4,677% |
| Principal transactions | 7,149 | 14,763 |
| Lending- and deposit-related fees | 2,248 | 4,380 |
| Asset management fees | 4,806 | 9,506 |
| Commissions and other fees | 2,194 | 4,227 |
| Investment securities gains/(losses) | (54) | (91) |
| Mortgage fees and related income | 363 | 641 |
| Card income | 1,344 | 2,560 |
| Other income | 1,154 | 3,077 |
| Noninterest revenue | 21,703 | 43,740 |
| Interest income | 48,241 | 95,094 |
| Interest expense | 25,032 | 48,612 |
| Net interest income | 23,209 | 46,482 |
| TOTAL NET REVENUE | 44,912 | 90,222 |
| Provision for credit losses | 2,849 | 6,154 |
| NONINTEREST EXPENSE |  |  |
| Compensation expense | 13,710 | 27,803 |
| Occupancy expense | 1,264 | 2,566 |
| Technology, communications and equipment expense | 2,704 | 5,282 |
| Professional and outside services | 3,006 | 5,845 |
| Marketing | 1,279 | 2,583 |
| Other expense (a) | 1,816 | 3,297 |
| TOTAL NONINTEREST EXPENSE | 23,779 | 47,376 |
| Income before income tax expense | 18,284 | 36,692 |
| Income tax expense | 3,297 | 7,062 |
| NET INCOME | $$$$$14,987 | $$29,630 |
| NET INCOME PER COMMON SHARE DATA |  |  |
| Basic earnings per share | $$$$$5.25 | $$10.32 |
| Diluted earnings per share | 5.24 | 10.31 |
| FINANCIAL RATIOS |  |  |
| Return on common equity (b) | 18%%%%% | 18%% |
| Return on tangible common equity (b)(c) | 21 | 21 |
| Return on assets (b) | 1.35 | 1.38 |
| Effective income tax rate | 18.0 | 19.2 |
| Overhead ratio | 53 | 53 |

(a)Included Firmwide legal expense of $116 million, $223 million, $60 million, $62 million and $118 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $339 million and $239 million for the six months ended June 30, 2026 and 2025, respectively.

(b)Ratios are based upon annualized amounts.

(c)Refer to page 28 for a further discussion of ROTCE.

(d)Included a $4.6 billion net gain related to Visa Class C common stock in Corporate and $1.0 billion of gains on certain equity investments, consisting of $763 million in Corporate and $263 million in CIB. Refer to footnote (e) on page 2 for further information.

(e)Refer to footnote (g) on page 2 for additional information.

(f)Included an FDIC special assessment accrual release of $326 million for the three months ended December 31, 2025. Refer to Note 6 on page 221 of the Firm’s 2025 Form 10-K for additional information.

(g)Included a $774 million income tax benefit in Corporate driven by the resolution of certain tax audits and the impact of tax regulations related to foreign currency translation gains and losses finalized in 2024 and effective for 2025.

| JPMORGAN CHASE & CO. / CONSOLIDATED BALANCE SHEETS / (in millions) | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 / Change / Mar 31, 2026 | Jun 30, 2026 / Change / Jun 30, 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ASSETS |  |  |  |  |  |  |  |
| Cash and due from banks | $24,720 | $22,039 | $21,742 | $21,821 | $23,759 | 12% | 4% |
| Deposits with banks | 285,091 | 290,103 | 321,596 | 281,615 | 396,568 | (2) | (28) |
| Federal funds sold and securities purchased under |  |  |  |  |  |  |  |
| resale agreements | 446,143 | 482,704 | 336,426 | 425,815 | 470,589 | (8) | (5) |
| Securities borrowed | 362,487 | 284,524 | 286,191 | 248,368 | 223,976 | 27 | 62 |
| Trading assets: |  |  |  |  |  |  |  |
| Debt and equity instruments | 994,305 | 997,751 | 745,096 | 892,928 | 829,510 | — | 20 |
| Derivative receivables | 67,767 | 71,584 | 57,777 | 59,849 | 60,346 | (5) | 12 |
| Available-for-sale (“AFS”) securities | 536,048 | 549,037 | 507,198 | 490,499 | 485,380 | (2) | 10 |
| Held-to-maturity (”HTM”) securities | 268,474 | 272,142 | 270,134 | 293,446 | 260,559 | (1) | 3 |
| Investment securities, net of allowance for credit losses | 804,522 | 821,179 | 777,332 | 783,945 | 745,939 | (2) | 8 |
| Loans | 1,542,462 | 1,503,520 | 1,493,429 | 1,435,246 | 1,411,992 | 3 | 9 |
| Less: Allowance for loan losses | 26,152 | 25,928 | 25,765 | 25,735 | 24,953 | 1 | 5 |
| Loans, net of allowance for loan losses | 1,516,310 | 1,477,592 | 1,467,664 | 1,409,511 | 1,387,039 | 3 | 9 |
| Accrued interest and accounts receivable | 179,939 | 142,334 | 111,599 | 141,876 | 124,463 | 26 | 45 |
| Premises and equipment | 37,701 | 36,771 | 36,244 | 35,063 | 33,562 | 3 | 12 |
| Goodwill, MSRs and other intangible assets | 64,304 | 64,289 | 64,458 | 64,442 | 64,465 | — | — |
| Other assets | 231,780 | 209,605 | 198,775 | 194,972 | 192,266 | 11 | 21 |
| TOTAL ASSETS | $5,015,069 | $4,900,475 | $4,424,900 | $4,560,205 | $4,552,482 | 2 | 10 |
| LIABILITIES |  |  |  |  |  |  |  |
| Deposits | $2,713,700 | $2,675,520 | $2,559,320 | $2,548,476 | $2,562,380 | 1 | 6 |
| Federal funds purchased and securities loaned or sold |  |  |  |  |  |  |  |
| under repurchase agreements | 704,918 | 716,623 | 442,396 | 567,574 | 595,340 | (2) | 18 |
| Short-term borrowings | 72,430 | 68,048 | 64,776 | 69,355 | 65,293 | 6 | 11 |
| Trading liabilities: |  |  |  |  |  |  |  |
| Debt and equity instruments | 208,648 | 196,546 | 169,690 | 195,859 | 173,292 | 6 | 20 |
| Derivative payables | 66,488 | 51,290 | 46,329 | 46,403 | 48,110 | 30 | 38 |
| Accounts payable and other liabilities | 384,290 | 352,561 | 316,794 | 316,896 | 303,641 | 9 | 27 |
| Beneficial interests issued by consolidated VIEs | 29,474 | 27,085 | 27,951 | 28,227 | 27,700 | 9 | 6 |
| Long-term debt | 460,523 | 448,764 | 435,206 | 427,203 | 419,802 | 3 | 10 |
| TOTAL LIABILITIES | 4,640,471 | 4,536,437 | 4,062,462 | 4,199,993 | 4,195,558 | 2 | 11 |
| STOCKHOLDERS’ EQUITY |  |  |  |  |  |  |  |
| Preferred stock | 21,040 | 20,045 | 20,045 | 20,045 | 20,045 | 5 | 5 |
| Common stock | 4,105 | 4,105 | 4,105 | 4,105 | 4,105 | — | — |
| Additional paid-in capital | 90,559 | 90,087 | 91,114 | 90,865 | 90,576 | 1 | — |
| Retained earnings | 445,020 | 428,206 | 416,055 | 407,401 | 397,424 | 4 | 12 |
| Accumulated other comprehensive loss (“AOCI”) | (7,693) | (6,689) | (4,290) | (5,878) | (7,243) | (15) | (6) |
| Treasury stock, at cost | (178,433) | (171,716) | (164,591) | (156,326) | (147,983) | (4) | (21) |
| TOTAL STOCKHOLDERS’ EQUITY | 374,598 | 364,038 | 362,438 | 360,212 | 356,924 | 3 | 5 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $5,015,069 | $4,900,475 | $4,424,900 | $4,560,205 | $4,552,482 | 2 | 10 |

(a) During the third quarter of 2025, the Firm transferred $44.1 billion of investment securities from AFS to HTM for asset-liability management purposes.

| JPMORGAN CHASE & CO. / CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS / (in millions, except rates) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
| AVERAGE BALANCES | 2Q25 | 2025 |
| ASSETS |  |  |
| Deposits with banks | $$$$$405,213%% | $$425,516% |
| Federal funds sold and securities purchased under resale agreements | 432,714 | 405,507 |
| Securities borrowed | 234,024 | 237,494 |
| Trading assets - debt instruments | 562,967 | 529,242 |
| Investment securities | 727,651 | 696,484 |
| Loans | 1,380,726 | 1,360,173 |
| All other interest-earning assets (a) | 102,687 | 103,258 |
| Total interest-earning assets | 3,845,982 | 3,757,674 |
| Trading assets - equity and other instruments | 239,996 | 232,772 |
| Trading assets - derivative receivables | 57,601 | 58,345 |
| All other noninterest-earning assets | 294,039 | 288,233 |
| TOTAL ASSETS | $$$$$4,437,618 | $$4,337,024 |
| LIABILITIES |  |  |
| Interest-bearing deposits | $$$$$1,902,337 | $$1,872,777 |
| Federal funds purchased and securities loaned or |  |  |
| sold under repurchase agreements | 558,043 | 511,880 |
| Short-term borrowings | 55,059 | 52,190 |
| Trading liabilities - debt and all other interest-bearing liabilities (b) | 300,126 | 294,166 |
| Beneficial interests issued by consolidated VIEs | 26,185 | 25,981 |
| Long-term debt | 348,372 | 346,668 |
| Total interest-bearing liabilities | 3,190,122 | 3,103,662 |
| Noninterest-bearing deposits | 602,777 | 595,140 |
| Trading liabilities - equity and other instruments | 44,159 | 40,933 |
| Trading liabilities - derivative payables | 40,865 | 40,976 |
| All other noninterest-bearing liabilities | 209,853 | 209,198 |
| TOTAL LIABILITIES | 4,087,776 | 3,989,909 |
| Preferred stock | 20,045 | 20,029 |
| Common stockholders’ equity | 329,797 | 327,086 |
| TOTAL STOCKHOLDERS’ EQUITY | 349,842 | 347,115 |
| TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $$$$$4,437,618 | $$4,337,024 |
| AVERAGE RATES (c) |  |  |
| INTEREST-EARNING ASSETS |  |  |
| Deposits with banks | 3.36%%%%% | 3.57%% |
| Federal funds sold and securities purchased under resale agreements | 4.24 | 4.37 |
| Securities borrowed | 3.79 | 3.84 |
| Trading assets - debt instruments | 4.50 | 4.53 |
| Investment securities | 3.85 | 3.85 |
| Loans | 6.71 | 6.76 |
| All other interest-earning assets (a)(d) | 6.87 | 7.25 |
| Total interest-earning assets | 5.04 | 5.11 |
| INTEREST-BEARING LIABILITIES |  |  |
| Interest-bearing deposits | 2.40 | 2.42 |
| Federal funds purchased and securities loaned or |  |  |
| sold under repurchase agreements | 4.29 | 4.39 |
| Short-term borrowings | 4.42 | 4.41 |
| Trading liabilities - debt and all other interest-bearing liabilities (b) | 3.04 | 3.00 |
| Beneficial interests issued by consolidated VIEs | 4.55 | 4.60 |
| Long-term debt | 5.16 | 5.16 |
| Total interest-bearing liabilities | 3.15 | 3.16 |
| INTEREST RATE SPREAD | 1.89 | 1.95 |
| NET YIELD ON INTEREST-EARNING ASSETS | 2.43 | 2.51 |
| Memo: Net yield on interest-earning assets excluding Markets (e) | 3.71 | 3.75 |

(a) Includes brokerage-related held-for-investment customer receivables, which are classified in accrued interest and accounts receivable, and all other interest-earning assets, which are classified in other assets, on the Consolidated Balance Sheets.

(b) All other interest-bearing liabilities include brokerage-related customer payables.

(c) Includes the effect of derivatives that qualify for hedge accounting. Taxable-equivalent amounts are used where applicable. Refer to Note 5 of the Firm’s 2025 Form 10-K for additional information on hedge accounting.

(d) The rates reflect the impact of interest earned on cash collateral where the cash collateral has been netted against certain derivative payables.

(e) Net yield on interest-earning assets excluding Markets is a non-GAAP financial measure. Refer to page 28 for a further discussion of this measure.

- JPMORGAN CHASE & CO.
- RECONCILIATION FROM REPORTED TO MANAGED BASIS
- (in millions, except ratios)

The Firm prepares its Consolidated Financial Statements using accounting principles generally accepted in the U.S. (“U.S. GAAP”). That presentation, which is referred to as “reported” basis, provides the reader with an understanding of the Firm’s results that can be tracked consistently from year-to-year and enables a comparison of the Firm’s performance with other companies’ U.S. GAAP financial statements. In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the LOBs on a managed basis. Refer to the notes on Non-GAAP Financial Measures on page 28 for additional information on managed basis.

The following summary table provides a reconciliation from reported U.S. GAAP results to managed basis.

| Line item | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| OTHER INCOME |  |  |
| Other income - reported | $$$$$1,154% | $$3,077% |
| Fully taxable-equivalent adjustments (a) | 663 | 1,265 |
| Other income - managed | $$$$$1,817 | $$4,342 |
| TOTAL NONINTEREST REVENUE |  |  |
| Total noninterest revenue - reported | $$$$$21,703 | $$43,740 |
| Fully taxable-equivalent adjustments | 663 | 1,265 |
| Total noninterest revenue - managed | $$$$$22,366 | $$45,005 |
| NET INTEREST INCOME |  |  |
| Net interest income - reported | $$$$$23,209 | $$46,482 |
| Fully taxable-equivalent adjustments (a) | 105 | 207 |
| Net interest income - managed | $$$$$23,314 | $$46,689 |
| TOTAL NET REVENUE |  |  |
| Total net revenue - reported | $$$$$44,912 | $$90,222 |
| Fully taxable-equivalent adjustments | 768 | 1,472 |
| Total net revenue - managed | $$$$$45,680 | $$91,694 |
| PRE-PROVISION PROFIT |  |  |
| Pre-provision profit - reported | $$$$$21,133 | $$42,846 |
| Fully taxable-equivalent adjustments | 768 | 1,472 |
| Pre-provision profit - managed | $$$$$21,901 | $$44,318 |
| INCOME BEFORE INCOME TAX EXPENSE |  |  |
| Income before income tax expense - reported | $$$$$18,284 | $$36,692 |
| Fully taxable-equivalent adjustments | 768 | 1,472 |
| Income before income tax expense - managed | $$$$$19,052 | $$38,164 |
| INCOME TAX EXPENSE |  |  |
| Income tax expense - reported | $$$$$3,297 | $$7,062 |
| Fully taxable-equivalent adjustments | 768 | 1,472 |
| Income tax expense - managed | $$$$$4,065 | $$8,534 |
| OVERHEAD RATIO |  |  |
| Overhead ratio - reported | 53%%%%% | 53%% |
| Overhead ratio - managed | 52 | 52 |

(a)For other income, recognized in CIB, and for net interest income, predominantly recognized in CIB and Corporate.

| JPMORGAN CHASE & CO. / SEGMENT & CORPORATE RESULTS - MANAGED BASIS / (in millions) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| TOTAL NET REVENUE (fully taxable-equivalent (“FTE”)) |  |  |
| Consumer & Community Banking | $$$$$8%% | $$7% |
| Commercial & Investment Bank | 27 | 23 |
| Asset & Wealth Management | 19 | 15 |
| Corporate | 293 | 89 |
| TOTAL NET REVENUE | $$$$$27 | $$18 |
| TOTAL NONINTEREST EXPENSE |  |  |
| Consumer & Community Banking | $$$$$13 | $$12 |
| Commercial & Investment Bank | 18 | 16 |
| Asset & Wealth Management | 13 | 12 |
| Corporate | 12 | 61 |
| TOTAL NONINTEREST EXPENSE | $$$$$15 | $$14 |
| PRE-PROVISION PROFIT |  |  |
| Consumer & Community Banking | $$$$$2 | $$2 |
| Commercial & Investment Bank | 36 | 30 |
| Asset & Wealth Management | 30 | 20 |
| Corporate | 448 | 96 |
| PRE-PROVISION PROFIT | $$$$$40 | $$23 |
| PROVISION FOR CREDIT LOSSES |  |  |
| Consumer & Community Banking | $$$$$4 | $$(11) |
| Commercial & Investment Bank | (49) | (40) |
| Asset & Wealth Management | (72) | NM |
| Corporate | NM | NM |
| PROVISION FOR CREDIT LOSSES | $$$$$(12) | $$(18) |
| NET INCOME |  |  |
| Consumer & Community Banking | $$$$$3 | $$7 |
| Commercial & Investment Bank | 46 | 38 |
| Asset & Wealth Management | 33 | 22 |
| Corporate | 148 | 45 |
| TOTAL NET INCOME | $$$$$41 | $$27 |

(a)Included a $4.6 billion net gain related to Visa Class C common stock in Corporate and $1.0 billion of gains on certain equity investments, consisting of $763 million in Corporate and $263 million in CIB. Refer to footnote (e) on page 2 for further information.

| JPMORGAN CHASE & CO. / CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS / (in millions, except ratio data) | Jun 30, 2026 / Change | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | Jun 30, | 2026 Change |
|  | 2025 | 2025 |
| CAPITAL |  |  |
| Risk-based capital metrics |  |  |
| Standardized |  |  |
| CET1 capital | $$$$$7%% |  |
| Tier 1 capital | 6 |  |
| Total capital | 8 |  |
| Risk-weighted assets | 14 |  |
| CET1 capital ratio |  |  |
| Tier 1 capital ratio |  |  |
| Total capital ratio |  |  |
| Advanced |  |  |
| CET1 capital | $$$$$7 |  |
| Tier 1 capital | 6 |  |
| Total capital | 8 |  |
| Risk-weighted assets | 14 |  |
| CET1 capital ratio |  |  |
| Tier 1 capital ratio |  |  |
| Total capital ratio |  |  |
| Leverage-based capital metrics |  |  |
| Adjusted average assets (a) | $$$$$12 |  |
| Tier 1 leverage ratio |  |  |
| Total leverage exposure | $$$$$13 |  |
| SLR |  |  |
| Total Loss-Absorbing Capacity (“TLAC”) |  |  |
| Eligible external TLAC | $$$$$5 |  |
| MEMO: CET1 CAPITAL ROLLFORWARD |  |  |
| Standardized/Advanced CET1 capital, beginning balance | $$$$$4 | $$5% |
| Net income applicable to common equity | 42 | 27 |
| Dividends declared on common stock | (3) | (3) |
| Net purchase of treasury stock | 11 | 1 |
| Changes in additional paid-in capital | 34 | (66) |
| Changes related to AOCI applicable to capital: |  |  |
| Unrealized gains/(losses) on investment securities | NM | NM |
| Translation adjustments, net of hedges | NM | NM |
| Fair value hedges | (13) | 60 |
| Defined benefit pension and other postretirement employee benefit plans | NM | NM |
| Changes related to other CET1 capital adjustments | NM | NM |
| Change in Standardized/Advanced CET1 capital | 182 | 70 |
| Standardized/Advanced CET1 capital, ending balance | $$$$$7 | $$7 |

(a)Adjusted average assets, for purposes of calculating the leverage ratios, includes quarterly average assets adjusted for on-balance sheet assets that are subject to deduction from Tier 1 capital, predominantly goodwill (inclusive of estimated equity method goodwill) and other intangible assets.

(b)Estimated.

(c)As of March 31, 2026, reflects the updated impact to the amount of risk-weighted assets (“RWA”) resulting from the completion of the necessary modeling steps for the Apple Card transaction of approximately $30 billion, as compared to the impact of approximately $110 billion as of December 31, 2025. Refer to Capital Risk Management on pages 33-40 of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended March 31, 2026, and pages 89-99 of the Firm’s 2025 Form 10-K for additional information.

| JPMORGAN CHASE & CO. / CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS, CONTINUED / (in millions, except ratio data) | Jun 30, 2026 / Change | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | Jun 30, | 2026 Change |
|  | 2025 | 2025 |
| TANGIBLE COMMON EQUITY (period-end) (a) |  |  |
| Common stockholders’ equity | $$$$$5%% |  |
| Less: Goodwill | — |  |
| Less: Other intangible assets | (10) |  |
| Add: Certain deferred tax liabilities (b) | (1) |  |
| Total tangible common equity | $$$$$6 |  |
| TANGIBLE COMMON EQUITY (average) (a) |  |  |
| Common stockholders’ equity | $$$$$4 | $$5% |
| Less: Goodwill | — | — |
| Less: Other intangible assets | (10) | (11) |
| Add: Certain deferred tax liabilities (b) | (1) | (1) |
| Total tangible common equity | $$$$$5 | $$6 |
| INTANGIBLE ASSETS (period-end) |  |  |
| Goodwill | — |  |
| Mortgage servicing rights | 2 |  |
| Other intangible assets | (10) |  |
| Total intangible assets | — |  |

(a)Refer to page 28 for further discussion of TCE.

(b)Represents deferred tax liabilities related to tax-deductible goodwill and to identifiable intangibles created in nontaxable transactions, which are netted against goodwill and other intangibles when calculating TCE.

| JPMORGAN CHASE & CO. / EARNINGS PER SHARE AND RELATED INFORMATION / (in millions, except per share and ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| EARNINGS PER SHARE |  |  |
| Basic earnings per share |  |  |
| Net income | $$$$$41%% | $$27% |
| Less: Preferred stock dividends | 9 | 9 |
| Net income applicable to common equity | 42 | 27 |
| Less: Dividends and undistributed earnings allocated to |  |  |
| participating securities | 27 | 13 |
| Net income applicable to common stockholders | $$$$$42 | $$27 |
| Total weighted-average basic shares outstanding | (4) | (4) |
| Net income per share | $$$$$47 | $$32 |
| Diluted earnings per share |  |  |
| Net income applicable to common stockholders | $$$$$42 | $$27 |
| Total weighted-average basic shares outstanding | (4) | (4) |
| Add: Dilutive impact of unvested performance share units (“PSUs”), nondividend-earning restricted stock units (“RSUs”) and stock appreciation rights (“SARs”) | (14) | (17) |
| Total weighted-average diluted shares outstanding | (4) | (4) |
| Net income per share | $$$$$47 | $$32 |
| COMMON DIVIDENDS |  |  |
| Cash dividends declared per share | $$$$$7 | $$7 |
| Dividend payout ratio |  |  |
| COMMON SHARE REPURCHASE PROGRAM (a) |  |  |
| Total shares of common stock repurchased | (27) | (18) |
| Average price paid per share of common stock | $$$$$22 | $$21 |
| Aggregate repurchases of common stock | (11) | — |
| EMPLOYEE ISSUANCE |  |  |
| Shares issued from treasury stock related to employee |  |  |
| stock-based compensation awards and employee stock |  |  |
| purchase plans | — | (5) |
| Net impact of employee issuances on stockholders’ equity (b) | $$$$$24 | $$(17) |

(a)The Firm’s Board of Directors authorized a new common share repurchase program of up to $50 billion, effective July 1, 2026, which replaced the previous program that commenced in the third quarter of 2025 and authorized repurchases of up to $50 billion.

(b)The net impact of employee issuances on stockholders’ equity is driven by the cost of equity compensation awards that is recognized over the applicable vesting periods. The cost is partially offset by tax impacts related to the distribution of shares.

(c)On September 16, 2025, the Board of Directors declared quarterly common stock dividends of $1.50 per share.

| JPMORGAN CHASE & CO. / CONSUMER & COMMUNITY BANKING / FINANCIAL HIGHLIGHTS / (in millions, except ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| INCOME STATEMENT |  |  |
| REVENUE |  |  |
| Lending- and deposit-related fees | $$$$$888%% | $$1,727% |
| Asset management fees | 1,110 | 2,203 |
| Mortgage fees and related income | 347 | 610 |
| Card income | 687 | 1,340 |
| All other income (a) | 1,420 | 2,743 |
| Noninterest revenue | 4,452 | 8,623 |
| Net interest income | 14,395 | 28,537 |
| TOTAL NET REVENUE | 18,847 | 37,160 |
| Provision for credit losses | 2,082 | 4,711 |
| NONINTEREST EXPENSE |  |  |
| Compensation expense | 4,260 | 8,635 |
| Noncompensation expense (b) | 5,598 | 11,080 |
| TOTAL NONINTEREST EXPENSE | 9,858 | 19,715 |
| Income before income tax expense | 6,907 | 12,734 |
| Income tax expense | 1,738 | 3,140 |
| NET INCOME | $$$$$5,169 | $$9,594 |
| REVENUE BY BUSINESS |  |  |
| Banking & Wealth Management | $$$$$10,698 | $$20,952 |
| Home Lending | 1,250 | 2,457 |
| Card Services & Auto | 6,899 | 13,751 |
| MORTGAGE FEES AND RELATED INCOME DETAILS |  |  |
| Production revenue | 151 | 261 |
| Net mortgage servicing revenue (c) | 196 | 349 |
| Mortgage fees and related income | $$$$$347 | $$610 |
| FINANCIAL RATIOS |  |  |
| ROE | 36%%%%% | 34%% |
| Overhead ratio | 52 | 53 |

(a)Primarily includes operating lease income and commissions and other fees. Operating lease income was $1.2 billion, $1.2 billion, $1.1 billion, $987 million and $896 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $2.4 billion and $1.7 billion for the six months ended June 30, 2026 and 2025, respectively.

(b)Included depreciation expense on leased assets of $694 million, $756 million, $670 million, $649 million and $577 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $1.5 billion and $1.1 billion for the six months ended June 30, 2026 and 2025, respectively.

(c)Included MSR risk management results of $39 million, $(15) million, $7 million, $55 million and $47 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $24 million and $56 million for the six months ended June 30, 2026 and 2025, respectively.

(d)Refer to footnote (g) on page 2 for additional information.

(e)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

| JPMORGAN CHASE & CO. / CONSUMER & COMMUNITY BANKING / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except employee data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| SELECTED BALANCE SHEET DATA (period-end) |  |  |
| Total assets | $$$$$3%% | $$3% |
| Loans: |  |  |
| Banking & Wealth Management | 2 | 2 |
| Home Lending (a) | (2) | (2) |
| Card Services | 7 | 7 |
| Auto | — | — |
| Total loans | 2 | 2 |
| Deposits | 3 | 3 |
| Equity | 10 | 10 |
| SELECTED BALANCE SHEET DATA (average) |  |  |
| Total assets | $$$$$3 | $$3 |
| Loans: |  |  |
| Banking & Wealth Management | 1 | — |
| Home Lending (b) | (2) | (2) |
| Card Services | 7 | 7 |
| Auto | — | (2) |
| Total loans | 2 | 2 |
| Deposits | 3 | 3 |
| Equity | 10 | 10 |
| Employees (c) | 1 | 1 |

(a)At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, Home Lending loans held-for-sale and loans at fair value were $13.1 billion, $11.3 billion, $11.0 billion, $9.4 billion and $8.9 billion, respectively.

(b)Average Home Lending loans held-for sale and loans at fair value were $13.0 billion, $11.8 billion, $11.2 billion, $10.1 billion and $8.9 billion for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $12.4 billion and $8.2 billion for the six months ended June 30, 2026 and 2025, respectively.

(c)Refer to footnote (e) on page 12 for further information on the centralization of Risk functions.

| JPMORGAN CHASE & CO. / CONSUMER & COMMUNITY BANKING / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| CREDIT DATA AND QUALITY STATISTICS |  |  |
| Nonaccrual loans (a) | $$$$$3,891%% | $$3,891% |
| Net charge-offs/(recoveries) |  |  |
| Banking & Wealth Management | 102 | 199 |
| Home Lending | (21) | (47) |
| Card Services | 1,938 | 3,921 |
| Auto | 67 | 167 |
| Total net charge-offs/(recoveries) | $$$$$2,086 | $$4,240 |
| Net charge-off/(recovery) rate |  |  |
| Banking & Wealth Management | 1.22%%%%% | 1.20%% |
| Home Lending | (0.04) | (0.04) |
| Card Services | 3.40 | 3.49 |
| Auto | 0.38 | 0.47 |
| Total net charge-off/(recovery) rate | 1.48 | 1.51 |
| 30+ day delinquency rate |  |  |
| Home Lending (b) | 0.93%%%%% | 0.93%% |
| Card Services | 2.06 | 2.06 |
| Auto | 1.12 | 1.12 |
| 90+ day delinquency rate - Card Services | 1.07 | 1.07 |
| Allowance for credit losses: |  |  |
| Allowance for loan losses |  |  |
| Banking & Wealth Management | $$$$$790 | $$790 |
| Home Lending | 547 | 547 |
| Card Services | 15,008 | 15,008 |
| Auto | 637 | 637 |
| Total allowance for loan losses | 16,982 | 16,982 |
| Allowance for lending-related commitments (c) | 90 | 90 |
| Total allowance for credit losses | $$$$$17,072 | $$17,072 |

(a)Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $61 million, $68 million, $70 million, $65 million and $68 million, respectively. In addition, the Firm’s policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance.

(b)At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $85 million, $92 million, $102 million, $95 million and $99 million, respectively. These amounts have been excluded based upon the government guarantee.

(c)As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to footnote (g) on page 2 for additional information.

(d)Prior-period rate has been revised to conform with the presentation in the Firm’s 2025 Form 10-K.

| JPMORGAN CHASE & CO. / CONSUMER & COMMUNITY BANKING / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratio data and where otherwise noted) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| BUSINESS METRICS |  |  |
| Number of: |  |  |
| Branches | 4,994%% | 4,994% |
| Active digital customers (in thousands) | 73,014 | 73,014 |
| Active mobile customers (in thousands) | 59,898 | 59,898 |
| Debit and credit card sales volume (in billions) | $$$$$487.2 | $$935.9 |
| Total payments transaction volume (in trillions) | 1.8 | 3.4 |
| Banking & Wealth Management |  |  |
| Average deposits | $$$$$1,044,158 | $$1,041,576 |
| Deposit margin | 2.76%%%%% | 2.72%% |
| Business Banking average loans | $$$$$19,217 | $$19,345 |
| Business Banking origination volume | 893 | 1,708 |
| Client investment assets (a) | 1,155,017 | 1,155,017 |
| Number of client advisors | 5,948 | 5,948 |
| Home Lending (in billions) |  |  |
| Mortgage origination volume by channel |  |  |
| Retail | $$$$$8.7 | $$14.2 |
| Correspondent | 4.8 | 8.7 |
| Total mortgage origination volume (b) | $$$$$13.5 | $$22.9 |
| Third-party mortgage loans serviced (period-end) | 653.3 | 653.3 |
| MSR carrying value (period-end) | 9.0 | 9.0 |
| Card Services |  |  |
| Sales volume, excluding commercial card (in billions) | $$$$$340.0 | $$650.6 |
| Net revenue rate | 10.06%%%%% | 10.22%% |
| Net yield on average loans | 10.04 | 10.17 |
| Auto |  |  |
| Loan and lease origination volume (in billions) | $$$$$11.3 | $$22.0 |
| Average auto operating lease assets | 15,218 | 14,434 |

(a)Includes assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager. Refer to AWM segment results on pages 20-22 for additional information.

(b)Firmwide mortgage origination volume was $21.2 billion, $16.6 billion, $19.0 billion, $16.9 billion and $16.3 billion for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $37.8 billion and $27.5 billion for the six months ended June 30, 2026 and 2025, respectively.

| JPMORGAN CHASE & CO. / COMMERCIAL & INVESTMENT BANK / FINANCIAL HIGHLIGHTS / (in millions, except ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| INCOME STATEMENT |  |  |
| REVENUE |  |  |
| Investment banking fees | $$$$$2,513%% | $$4,761% |
| Principal transactions | 7,109 | 14,717 |
| Lending- and deposit-related fees | 1,296 | 2,526 |
| Commissions and other fees | 1,493 | 2,930 |
| Card income | 645 | 1,196 |
| All other income | 736 | 1,484 |
| Noninterest revenue | 13,792 | 27,614 |
| Net interest income | 5,743 | 11,587 |
| TOTAL NET REVENUE (a) | 19,535 | 39,201 |
| Provision for credit losses | 696 | 1,401 |
| NONINTEREST EXPENSE |  |  |
| Compensation expense | 4,815 | 9,942 |
| Noncompensation expense | 4,826 | 9,541 |
| TOTAL NONINTEREST EXPENSE | 9,641 | 19,483 |
| Income before income tax expense | 9,198 | 18,317 |
| Income tax expense | 2,548 | 4,725 |
| NET INCOME | $$$$$6,650 | $$13,592 |
| FINANCIAL RATIOS |  |  |
| ROE | 17%%%%% | 18%% |
| Overhead ratio | 49 | 50 |
| Compensation expense as percentage of total net revenue | 25 | 25 |
| REVENUE BY BUSINESS |  |  |
| Investment Banking | $$$$$2,684 | $$4,952 |
| Payments | 4,735 | 9,300 |
| Lending | 1,829 | 3,744 |
| Other | — | 6 |
| Total Banking & Payments | 9,248 | 18,002 |
| Fixed Income Markets | 5,690 | 11,539 |
| Equity Markets | 3,246 | 7,060 |
| Securities Services | 1,418 | 2,687 |
| Credit Adjustments & Other (b) | (67) | (87) |
| Total Markets & Securities Services | 10,287 | 21,199 |
| TOTAL NET REVENUE | $$$$$19,535 | $$39,201 |
| Banking & Payments revenue by client coverage segment (c) |  |  |
| Global Corporate Banking & Global Investment Banking | $$$$$6,319%% | $$12,248% |
| Commercial Banking | 2,929 | 5,754 |
| Commercial & Specialized Industries | 2,067 | 4,023 |
| Commercial Real Estate Banking | 862 | 1,731 |
| Total Banking & Payments revenue | $$$$$9,248 | $$18,002 |

(a)Included taxable-equivalent adjustments primarily from income tax credits from investments in alternative energy, affordable housing and new markets, income from tax-exempt securities and loans, and the related amortization and other tax benefits of the investments in alternative energy and affordable housing of $621 million, $646 million, $920 million, $644 million and $722 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $1.3 billion and $1.4 billion for the six months ended June 30, 2026 and 2025, respectively.

(b)Consists primarily of centrally managed credit valuation adjustments (“CVA”), funding valuation adjustments (“FVA”) on derivatives, other valuation adjustments, and certain components of fair value option elected liabilities, which are primarily reported in principal transactions revenue. Results are presented net of associated hedging activities and net of CVA and FVA amounts allocated to Fixed Income Markets and Equity Markets.

(c)Refer to page 70 of the Firm’s 2025 Form 10-K for a description of each of the client coverage segments.

(d)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

| JPMORGAN CHASE & CO. / COMMERCIAL & INVESTMENT BANK / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratio and employee data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| SELECTED BALANCE SHEET DATA (period-end) |  |  |
| Total assets | $$$$$20%% | $$20% |
| Loans: |  |  |
| Loans retained | 12 | 12 |
| Loans held-for-sale and loans at fair value (a) | 14 | 14 |
| Total loans | 12 | 12 |
| Equity | 17 | 17 |
| Banking & Payments loans by client coverage segment (period-end) (b) |  |  |
| Global Corporate Banking & Global Investment Banking | $$$$$21 | $$21 |
| Commercial Banking | 2 | 2 |
| Commercial & Specialized Industries | 4 | 4 |
| Commercial Real Estate Banking | 1 | 1 |
| Total Banking & Payments loans | 9 | 9 |
| SELECTED BALANCE SHEET DATA (average) |  |  |
| Total assets | $$$$$21 | $$21 |
| Trading assets - debt and equity instruments | 26 | 27 |
| Trading assets - derivative receivables | 29 | 22 |
| Loans: |  |  |
| Loans retained | 12 | 14 |
| Loans held-for-sale and loans at fair value (a) | 44 | 51 |
| Total loans | 15 | 17 |
| Deposits | 10 | 11 |
| Equity | 15 | 13 |
| Banking & Payments loans by client coverage segment (average) (b) |  |  |
| Global Corporate Banking & Global Investment Banking | $$$$$32 | $$28 |
| Commercial Banking | 3 | 2 |
| Commercial & Specialized Industries | 6 | 5 |
| Commercial Real Estate Banking | 1 | 1 |
| Total Banking & Payments loans | 13 | 12 |
| Employees | 2 | 2 |

(a)Loans held-for-sale and loans at fair value primarily reflect lending-related positions originated and purchased in Markets, including loans held for securitization.

(b)Refer to page 70 of the Firm’s 2025 Form 10-K for a description of each of the client coverage segments.

(c)Refer to footnote (d) on page 16 for further information on the centralization of Risk functions.

| JPMORGAN CHASE & CO. / COMMERCIAL & INVESTMENT BANK / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratio and employee data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| CREDIT DATA AND QUALITY STATISTICS |  |  |
| Net charge-offs/(recoveries) | $$$$$325%% | $$502% |
| Nonperforming assets: |  |  |
| Nonaccrual loans: |  |  |
| Nonaccrual loans retained (a) | 3,678 | 3,678 |
| Nonaccrual loans held-for-sale and loans at fair value (b) | 1,207 | 1,207 |
| Total nonaccrual loans | 4,885 | 4,885 |
| Derivative receivables | 349 | 349 |
| Assets acquired in loan satisfactions | 208 | 208 |
| Total nonperforming assets | 5,442 | 5,442 |
| Allowance for credit losses: |  |  |
| Allowance for loan losses | 7,408 | 7,408 |
| Allowance for lending-related commitments | 2,757 | 2,757 |
| Total allowance for credit losses | 10,165 | 10,165 |
| Net charge-off/(recovery) rate (c) | 0.25%%%%% | 0.20%% |
| Allowance for loan losses to period-end loans retained | 1.41 | 1.41 |
| Allowance for loan losses to nonaccrual loans retained (a) | 201 | 201 |
| Nonaccrual loans to total period-end loans | 0.84 | 0.84 |

(a)Allowance for loan losses of $672 million, $740 million, $597 million, $724 million and $655 million were held against these nonaccrual loans at June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively.

(b)Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $171 million, $183 million, $128 million, $93 million and $45 million, respectively.

(c)Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate.

| JPMORGAN CHASE & CO. / COMMERCIAL & INVESTMENT BANK / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except where otherwise noted) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| BUSINESS METRICS |  |  |
| Advisory | $$$$$20%% | $$48% |
| Equity underwriting | 78 | 65 |
| Debt underwriting | 19 | 6 |
| Total investment banking fees | $$$$$30 | $$29 |
| Client deposits and other third-party liabilities (average) (a) | 11 | 12 |
| Assets under custody (“AUC”) (period-end) (in billions) | $$$$$18 | $$18 |
| 95% Confidence Level - Total CIB VaR (average) |  |  |
| CIB trading VaR by risk type: (b) |  |  |
| Fixed income | $$$$$(3) |  |
| Foreign exchange | 30 |  |
| Equities | 18 |  |
| Commodities and other | (42) |  |
| Diversification benefit to CIB trading VaR (c) | 20 |  |
| CIB trading VaR (b) | 18 |  |
| Credit Portfolio VaR (d) | (18) |  |
| Diversification benefit to CIB VaR (c) | — |  |
| CIB VaR | $$$$$5 |  |

(a)Client deposits and other third-party liabilities pertain to the Payments and Securities Services businesses.

(b)CIB trading VaR includes substantially all market-making and client-driven activities, as well as certain risk management activities in CIB, including credit spread sensitivity to CVA. Refer to VaR measurement on pages 135–138 of the Firm’s 2025 Form 10-K for further information.

(c)Diversification benefit represents the difference between the portfolio VaR and the sum of its individual components. This reflects the non-additive nature of VaR due to imperfect correlation across CIB risks.

(d)Credit Portfolio VaR includes the derivative CVA, hedges of the CVA and credit protection purchased against certain retained loans and lending-related commitments, which are reported in principal transactions revenue. This VaR does not include the retained loan portfolio, which is not reported at fair value.

| JPMORGAN CHASE & CO. / ASSET & WEALTH MANAGEMENT / FINANCIAL HIGHLIGHTS / (in millions, except ratio and employee data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| INCOME STATEMENT |  |  |
| REVENUE |  |  |
| Asset management fees | $$$$$3,642%% | $$7,237% |
| Commissions and other fees | 314 | 587 |
| All other income | 117 | 242 |
| Noninterest revenue | 4,073 | 8,066 |
| Net interest income | 1,687 | 3,425 |
| TOTAL NET REVENUE | 5,760 | 11,491 |
| Provision for credit losses | 46 | 36 |
| NONINTEREST EXPENSE |  |  |
| Compensation expense | 2,083 | 4,150 |
| Noncompensation expense | 1,650 | 3,296 |
| TOTAL NONINTEREST EXPENSE | 3,733 | 7,446 |
| Income before income tax expense | 1,981 | 4,009 |
| Income tax expense | 508 | 953 |
| NET INCOME | $$$$$1,473 | $$3,056 |
| REVENUE BY BUSINESS |  |  |
| Asset Management | $$$$$2,705 | $$5,376 |
| Global Private Bank | 3,055 | 6,115 |
| TOTAL NET REVENUE | $$$$$5,760 | $$11,491 |
| FINANCIAL RATIOS |  |  |
| ROE | 36%%%%% | 38%% |
| Overhead ratio | 65 | 65 |
| Pretax margin ratio: |  |  |
| Asset Management | 33 | 33 |
| Global Private Bank | 36 | 37 |
| Asset & Wealth Management | 34 | 35 |
| Employees | 28,770 | 28,770 |
| Number of Global Private Bank client advisors | 3,756 | 3,756 |

(a)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

| JPMORGAN CHASE & CO. / ASSET & WEALTH MANAGEMENT / FINANCIAL HIGHLIGHTS, CONTINUED / (in millions, except ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| SELECTED BALANCE SHEET DATA (period-end) |  |  |
| Total assets | $$$$$268,966%% | $$268,966% |
| Loans | 245,526 | 245,526 |
| Deposits | 242,356 | 242,356 |
| Equity | 16,000 | 16,000 |
| SELECTED BALANCE SHEET DATA (average) |  |  |
| Total assets | $$$$$261,128 | $$257,271 |
| Loans | 240,585 | 237,279 |
| Deposits | 248,375 | 246,253 |
| Equity | 16,000 | 16,000 |
| CREDIT DATA AND QUALITY STATISTICS |  |  |
| Net charge-offs/(recoveries) | $$$$$(1) | — |
| Nonaccrual loans | 1,035 | 1,035 |
| Allowance for credit losses: |  |  |
| Allowance for loan losses | 552 | 552 |
| Allowance for lending-related commitments | 58 | 58 |
| Total allowance for credit losses | 610 | 610 |
| Net charge-off/(recovery) rate | — | — |
| Allowance for loan losses to period-end loans | 0.22 | 0.22 |
| Allowance for loan losses to nonaccrual loans | 53 | 53 |
| Nonaccrual loans to period-end loans | 0.42 | 0.42 |

| JPMORGAN CHASE & CO. / ASSET & WEALTH MANAGEMENT / FINANCIAL HIGHLIGHTS, CONTINUED / (in billions, except business metrics data) | Jun 30, 2026 / Change | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | Jun 30, |  |
| CLIENT ASSETS | 2025 | 2025 |
| Assets by asset class |  |  |
| Liquidity | $$$$$17%% | $$1,131% |
| Fixed income | 15 | 925 |
| Equity | 25 | 1,258 |
| Multi-asset | 16 | 809 |
| Alternatives | 9 | 220 |
| TOTAL ASSETS UNDER MANAGEMENT | 18 | 4,343 |
| Custody/brokerage/administration/deposits | 21 | 2,078 |
| TOTAL CLIENT ASSETS (a) | $$$$$19 | $$6,421 |
| Assets by client segment |  |  |
| Private Banking | $$$$$23 | $$1,270 |
| Global Institutional | 17 | 1,772 |
| Global Funds | 15 | 1,301 |
| TOTAL ASSETS UNDER MANAGEMENT | $$$$$18 | $$4,343 |
| Private Banking | $$$$$20 | $$3,191 |
| Global Institutional | 21 | 1,907 |
| Global Funds | 15 | 1,323 |
| TOTAL CLIENT ASSETS (a) | $$$$$19 | $$6,421 |
| Assets under management rollforward |  |  |
| Beginning balance |  | $$4,045 |
| Net asset flows: |  |  |
| Liquidity |  | 41 |
| Fixed income |  | 38 |
| Equity |  | 53 |
| Multi-asset |  | 1 |
| Alternatives |  | (7) |
| Market/performance/other impacts |  | 172 |
| Ending balance |  | $$4,343 |
| Client assets rollforward |  |  |
| Beginning balance |  | $$5,932 |
| Net asset flows |  | 200 |
| Market/performance/other impacts |  | 289 |
| Ending balance |  | $$6,421 |
| BUSINESS METRICS |  |  |
| Firmwide Wealth Management |  |  |
| Client assets (in billions) (b) | $$$$$19 | $$4,087 |
| Number of client advisors | 8 | 9,704 |
| Stock Plan Administration |  |  |
| Number of stock plan participants (in thousands) | 24 | 1,594 |
| Client assets (in billions) | $$$$$29 | $$314 |

(a)Includes CCB client investment assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager.

(b)Consists of Global Private Bank in AWM and client investment assets in J.P. Morgan Wealth Management in CCB.

| JPMORGAN CHASE & CO. / CORPORATE / FINANCIAL HIGHLIGHTS / (in millions, except employee data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q26 Change | 2026 Change |
|  | 2Q25 | 2025 |
| INCOME STATEMENT |  |  |
| REVENUE |  |  |
| Principal transactions | NM | NM |
| Investment securities gains/(losses) | NM | (268)% |
| All other income | NM | NM |
| Noninterest revenue | NM | NM |
| Net interest income | (45)%% | (41) |
| TOTAL NET REVENUE (a) | 293 | 89 |
| Provision for credit losses | NM | NM |
| NONINTEREST EXPENSE | 12 | 61 |
| Income before income tax expense | 464 | 96 |
| Income tax expense/(benefit) | NM | NM |
| NET INCOME | $$$$$148 | $$45 |
| MEMO: |  |  |
| TOTAL NET REVENUE |  |  |
| Treasury and Chief Investment Office (“CIO”) | (52) | (34) |
| Other Corporate | NM | NM |
| TOTAL NET REVENUE | $$$$$293 | $$89 |
| NET INCOME/(LOSS) |  |  |
| Treasury and CIO | (53) | (40) |
| Other Corporate | NM | 219 |
| TOTAL NET INCOME | $$$$$148 | $$45 |
| SELECTED BALANCE SHEET DATA (period-end) |  |  |
| Total assets | $$$$$(4) | $$(4) |
| Loans | 54 | 54 |
| Deposits (b) | 113 | 113 |
| Employees | (1) | (1) |
| SUPPLEMENTAL INFORMATION |  |  |
| TREASURY and CIO |  |  |
| Investment securities gains/(losses) | NM | $$(268) |
| Available-for-sale securities (average) | 15 | 24 |
| Held-to-maturity securities (average) (c) | 3 | 2 |
| Investment securities portfolio (average) | $$$$$11 | $$16 |
| Available-for-sale securities (period-end) | 10 | 10 |
| Held-to-maturity securities (period-end) (c) | 3 | 3 |
| Investment securities portfolio, net of allowance for credit losses (period-end) (d) | $$$$$8 | $$8 |

(a)Included tax-equivalent adjustments, predominantly driven by tax-exempt income from municipal bonds, of $44 million, $44 million, $41 million, $39 million and $38 million for the three months ended June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, respectively, and $88 million and $74 million for the six months ended June 30, 2026 and 2025, respectively.

(b)Predominantly relates to the Firm's international consumer initiatives.

(c)At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, the estimated fair value of the HTM securities portfolio was $250.3 billion, $254.5 billion, $253.3 billion, $274.9 billion and $239.3 billion, respectively.

(d)At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, the allowance for credit losses on investment securities was $59 million, $73 million, $73 million, $72 million and $75 million, respectively.

(e)Included a $4.6 billion net gain related to Visa Class C common stock and $763 million of gains on certain equity investments. Refer to footnote (e) on page 2 for further information.

(f)In the first quarter of 2026, Risk functions that were previously aligned with the LOBs were centralized into Corporate. As a result, the employees and compensation expense related to those functions are now reflected in Corporate, and a corresponding expense allocation from Corporate is reflected in noncompensation expense of the respective LOBs. These adjustments had no impact on total noninterest expense of the LOBs or Corporate. Prior periods have been revised to conform with the current presentation.

(g)Included an FDIC special assessment accrual release of $326 million for the three months ended December 31, 2025. Refer to Note 6 on page 221 of the Firm’s 2025 Form 10-K for additional information.

(h)During the third quarter of 2025, the Firm transferred $44.1 billion of investment securities from AFS to HTM for asset-liability management purposes.

(i)Included a $774 million income tax benefit driven by the resolution of certain tax audits and the impact of tax regulations related to foreign currency translation gains and losses finalized in 2024 and effective for 2025.

| JPMORGAN CHASE & CO. / CREDIT-RELATED INFORMATION / (in millions) | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 / Change / Mar 31, 2026 | Jun 30, 2026 / Change / Jun 30, 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| CREDIT EXPOSURE |  |  |  |  |  |  |  |
| Consumer, excluding credit card loans (a) |  |  |  |  |  |  |  |
| Loans retained | $367,128 | $367,274 | $368,741 | $369,859 | $371,855 | — | (1)% |
| Loans held-for-sale and loans at fair value | 24,615 | 24,386 | 33,517 | 23,225 | 22,185 | 1 | 11 |
| Total consumer, excluding credit card loans | 391,743 | 391,660 | 402,258 | 393,084 | 394,040 | — | (1) |
| Credit card loans |  |  |  |  |  |  |  |
| Loans retained | 249,876 | 239,123 | 247,797 | 235,475 | 232,943 | 4 | 7 |
| Total credit card loans | 249,876 | 239,123 | 247,797 | 235,475 | 232,943 | 4 | 7 |
| Total consumer loans | 641,619 | 630,783 | 650,055 | 628,559 | 626,983 | 2 | 2 |
| Wholesale loans (b) |  |  |  |  |  |  |  |
| Loans retained | 846,804 | 818,839 | 792,367 | 764,451 | 740,675 | 3 | 14 |
| Loans held-for-sale and loans at fair value | 54,039 | 53,898 | 51,007 | 42,236 | 44,334 | — | 22 |
| Total wholesale loans | 900,843 | 872,737 | 843,374 | 806,687 | 785,009 | 3 | 15 |
| Total loans | 1,542,462 | 1,503,520 | 1,493,429 | 1,435,246 | 1,411,992 | 3 | 9 |
| Derivative receivables | 67,767 | 71,584 | 57,777 | 59,849 | 60,346 | (5) | 12 |
| Receivables from customers (c) | 82,203 | 64,844 | 47,336 | 68,493 | 53,099 | 27 | 55 |
| Total credit-related assets | 1,692,432 | 1,639,948 | 1,598,542 | 1,563,588 | 1,525,437 | 3 | 11 |
| Lending-related commitments |  |  |  |  |  |  |  |
| Consumer, excluding credit card | 49,116 | 46,236 | 43,587 | 48,015 | 47,064 | 6 | 4 |
| Credit card (d)(e) | 1,224,431 | 1,204,016 | 1,177,766 | 1,069,963 | 1,050,275 | 2 | 17 |
| Wholesale | 621,742 | 604,922 | 595,954 | 596,028 | 559,654 | 3 | 11 |
| Total lending-related commitments | 1,895,289 | 1,855,174 | 1,817,307 | 1,714,006 | 1,656,993 | 2 | 14 |
| Total credit exposure | $3,587,721 | $3,495,122 | $3,415,849 | $3,277,594 | $3,182,430 | 3 | 13 |
| Memo: Total by category |  |  |  |  |  |  |  |
| Consumer exposure (f) | $1,915,166 | $1,881,035 | $1,871,408 | $1,746,537 | $1,724,322 | 2 | 11 |
| Wholesale exposure (g) | 1,672,555 | 1,614,087 | 1,544,441 | 1,531,057 | 1,458,108 | 4 | 15 |
| Total credit exposure | $3,587,721 | $3,495,122 | $3,415,849 | $3,277,594 | $3,182,430 | 3 | 13 |

(a)Includes scored loans held in CCB, scored mortgage and home equity loans held in AWM, and scored mortgage loans held in CIB and Corporate.

(b)Includes loans held in CIB, AWM, Corporate as well as risk-rated loans held in CCB, including business banking and J.P. Morgan Wealth Management loans held in Banking & Wealth Management, and auto dealer loans for which the wholesale methodology is applied when determining the allowance for loan losses.

(c)Receivables from customers reflect held-for-investment margin loans to brokerage clients in CIB, CCB and AWM; these are reported within accrued interest and accounts receivable on the Consolidated balance sheets.

(d)Also includes commercial card lending-related commitments primarily in CIB.

(e)As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to Notes 4 and 28 of the Firm’s 2025 Form 10-K for additional information.

(f)Represents total consumer loans and lending-related commitments.

(g)Represents total wholesale loans, lending-related commitments, derivative receivables, and receivables from customers.

(h)Prior-period amount has been revised to conform with the presentation in the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2025.

| JPMORGAN CHASE & CO. / CREDIT-RELATED INFORMATION, CONTINUED / (in millions, except ratio data) | CREDIT-RELATED INFORMATION, CONTINUED / Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 / Change / Mar 31, 2026 | Jun 30, 2026 / Change / Jun 30, 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| NONPERFORMING ASSETS (a) |  |  |  |  |  |  |  |
| Consumer nonaccrual loans |  |  |  |  |  |  |  |
| Loans retained | $3,843 | $3,810 | $3,875 | $3,954 | $3,938 | 1% | (2)% |
| Loans held-for-sale and loans at fair value | 605 | 589 | 798 | 646 | 731 | 3 | (17) |
| Total consumer nonaccrual loans | 4,448 | 4,399 | 4,673 | 4,600 | 4,669 | 1 | (5) |
| Wholesale nonaccrual loans |  |  |  |  |  |  |  |
| Loans retained | 4,191 | 4,524 | 4,398 | 4,740 | 4,479 | (7) | (6) |
| Loans held-for-sale and loans at fair value | 725 | 660 | 786 | 766 | 673 | 10 | 8 |
| Total wholesale nonaccrual loans | 4,916 | 5,184 | 5,184 | 5,506 | 5,152 | (5) | (5) |
| Total nonaccrual loans | 9,364 | 9,583 | 9,857 | 10,106 | 9,821 | (2) | (5) |
| Derivative receivables | 171 | 174 | 204 | 224 | 349 | (2) | (51) |
| Assets acquired in loan satisfactions | 314 | 292 | 298 | 305 | 310 | 8 | 1 |
| Total nonperforming assets | 9,849 | 10,049 | 10,359 | 10,635 | 10,480 | (2) | (6) |
| Wholesale lending-related commitments (b) | 799 | 916 | 925 | 1,025 | 922 | (13) | (13) |
| Total nonperforming exposure | $10,648 | $10,965 | $11,284 | $11,660 | $11,402 | (3) | (7) |
| NONACCRUAL LOAN-RELATED RATIOS |  |  |  |  |  |  |  |
| Total nonaccrual loans to total loans | 0.61% | 0.64% | 0.66% | 0.70% | 0.70% |  |  |
| Total consumer, excluding credit card nonaccrual loans to |  |  |  |  |  |  |  |
| total consumer, excluding credit card loans | 1.14 | 1.12 | 1.16 | 1.17 | 1.18 |  |  |
| Total wholesale nonaccrual loans to total |  |  |  |  |  |  |  |
| wholesale loans | 0.55 | 0.59 | 0.61 | 0.68 | 0.66 |  |  |

(a)Excludes mortgage loans past due and insured by U.S. government agencies, which are primarily 90 or more days past due. These loans have been excluded based upon the government guarantee. At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $232 million, $251 million, $198 million, $158 million and $113 million, respectively. In addition, the Firm’s policy is generally to exempt credit card loans from being placed on nonaccrual status as permitted by regulatory guidance. Refer to Note 12 of the Firm’s 2025 Form 10-K for additional information on the Firm’s credit card nonaccrual and charge-off policies.

(b)Represents commitments that are risk rated as nonaccrual.

| JPMORGAN CHASE & CO. / CREDIT-RELATED INFORMATION, CONTINUED / (in millions, except ratio data) | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
|  | 2Q25 | 2025 |
| SUMMARY OF CHANGES IN THE ALLOWANCES |  |  |
| ALLOWANCE FOR LOAN LOSSES |  |  |
| Beginning balance | $$$$$25,208%% | $$24,345% |
| Net charge-offs: |  |  |
| Gross charge-offs | 2,944 | 5,760 |
| Gross recoveries collected | (534) | (1,018) |
| Net charge-offs | 2,410 | 4,742 |
| Provision for loan losses | 2,151 | 5,344 |
| Other | 4 | 6 |
| Ending balance | $$$$$24,953 | $$24,953 |
| ALLOWANCE FOR LENDING-RELATED COMMITMENTS |  |  |
| Beginning balance | $$$$$2,226 | $$2,101 |
| Provision for lending-related commitments | 706 | 831 |
| Other | — | — |
| Ending balance | $$$$$2,932 | $$2,932 |
| ALLOWANCE FOR INVESTMENT SECURITIES | $$$$$108 | $$108 |
| Total allowance for credit losses (a) | $$$$$27,993 | $$27,993 |
| NET CHARGE-OFF/(RECOVERY) RATES |  |  |
| Consumer retained, excluding credit card loans | 0.14%%%%% | 0.16%% |
| Credit card retained loans | 3.40 | 3.49 |
| Total consumer retained loans | 1.38 | 1.42 |
| Wholesale retained loans | 0.19 | 0.15 |
| Total retained loans | 0.73 | 0.73 |
| Memo: Average retained loans |  |  |
| Consumer retained, excluding credit card loans | $$$$$372,005 | $$373,229 |
| Credit card retained loans | 228,320 | 226,346 |
| Total average retained consumer loans | 600,325 | 599,575 |
| Wholesale retained loans | 721,105 | 703,952 |
| Total average retained loans | $$$$$1,321,430 | $$1,303,527 |

(a)At June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, excludes an allowance for credit losses associated with certain accounts receivable in CIB of $165 million, $286 million, $288 million, $285 million and $288 million, respectively.

(b)Refer to footnote (g) on page 2 for additional information.

| JPMORGAN CHASE & CO. / CREDIT-RELATED INFORMATION, CONTINUED / (in millions, except ratio data) | CREDIT-RELATED INFORMATION, CONTINUED / Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Jun 30, 2026 / Change / Mar 31, 2026 | Jun 30, 2026 / Change / Jun 30, 2025 |
| --- | --- | --- | --- | --- | --- | --- | --- |
| ALLOWANCE COMPONENTS AND RATIOS |  |  |  |  |  |  |  |
| ALLOWANCE FOR LOAN LOSSES |  |  |  |  |  |  |  |
| Consumer, excluding credit card |  |  |  |  |  |  |  |
| Asset-specific | $(621) | $(623) | $(647) | $(621) | $(683) | — | 9% |
| Portfolio-based | 2,417 | 2,412 | 2,567 | 2,524 | 2,532 | — | (5) |
| Total consumer, excluding credit card | 1,796 | 1,789 | 1,920 | 1,903 | 1,849 | — | (3) |
| Credit card |  |  |  |  |  |  |  |
| Portfolio-based | 15,561 | 15,559 | 15,557 | 15,554 | 15,001 | — | 4 |
| Total credit card | 15,561 | 15,559 | 15,557 | 15,554 | 15,001 | — | 4 |
| Total consumer | 17,357 | 17,348 | 17,477 | 17,457 | 16,850 | — | 3 |
| Wholesale |  |  |  |  |  |  |  |
| Asset-specific | 790 | 851 | 707 | 838 | 781 | (7) | 1 |
| Portfolio-based | 8,005 | 7,729 | 7,581 | 7,440 | 7,322 | 4 | 9 |
| Total wholesale | 8,795 | 8,580 | 8,288 | 8,278 | 8,103 | 3 | 9 |
| Total allowance for loan losses | 26,152 | 25,928 | 25,765 | 25,735 | 24,953 | 1 | 5 |
| Allowance for lending-related commitments (a) | 5,151 | 5,091 | 5,071 | 2,964 | 2,932 | 1 | 76 |
| Allowance for investment securities | 63 | 78 | 106 | 105 | 108 | (19) | (42) |
| Total allowance for credit losses | $31,366 | $31,097 | $30,942 | $28,804 | $27,993 | 1 | 12 |
| CREDIT RATIOS |  |  |  |  |  |  |  |
| Consumer, excluding credit card allowance, to total |  |  |  |  |  |  |  |
| consumer, excluding credit card retained loans | 0.49% | 0.49% | 0.52% | 0.51% | 0.50% |  |  |
| Credit card allowance to total credit card retained loans | 6.23 | 6.51 | 6.28 | 6.61 | 6.44 |  |  |
| Wholesale allowance to total wholesale retained loans | 1.04 | 1.05 | 1.05 | 1.08 | 1.09 |  |  |
| Total allowance to total retained loans | 1.79 | 1.82 | 1.83 | 1.88 | 1.85 |  |  |
| Consumer, excluding credit card allowance, to consumer, |  |  |  |  |  |  |  |
| excluding credit card retained nonaccrual loans (b) | 47 | 47 | 50 | 48 | 47 |  |  |
| Total allowance, excluding credit card allowance, to retained |  |  |  |  |  |  |  |
| nonaccrual loans, excluding credit card nonaccrual loans (b) | 132 | 124 | 123 | 117 | 118 |  |  |
| Wholesale allowance to wholesale retained nonaccrual loans | 210 | 190 | 188 | 175 | 181 |  |  |
| Total allowance to total retained nonaccrual loans | 326 | 311 | 311 | 296 | 296 |  |  |

(a)As of December 31, 2025, includes the impact of the Apple Card transaction. Refer to footnote (g) on page 2 for additional information.

(b)Refer to footnote (a) on page 25 for information on the Firm’s nonaccrual policy for credit card loans.

- JPMORGAN CHASE & CO.
- NON-GAAP FINANCIAL MEASURES

### Non-GAAP Financial Measures

(a)In addition to analyzing the Firm’s results on a reported basis, management reviews Firmwide results, including the overhead ratio, on a “managed” basis; these Firmwide managed basis results are non-GAAP financial measures. The Firm also reviews the results of the LOBs on a managed basis. The Firm’s definition of managed basis starts, in each case, with the reported U.S. GAAP results and includes certain reclassifications to present total net revenue for the Firm as a whole and for each of the reportable business segments and Corporate on an FTE basis. Accordingly, revenue from investments that receive tax credits and tax-exempt securities is presented in the managed results on a basis comparable to taxable investments and securities. These financial measures allow management to assess the comparability of revenue from year-to-year arising from both taxable and tax-exempt sources. The corresponding income tax impact related to tax-exempt items is recorded within income tax expense. These adjustments have no impact on net income as reported by the Firm as a whole or by each of the LOBs and Corporate.

(b)Pre-provision profit is a non-GAAP financial measure which represents total net revenue less total noninterest expense. The Firm believes that this financial measure is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses.

(c)TCE, ROTCE, and TBVPS are each non-GAAP financial measures. TCE represents the Firm’s common stockholders’ equity (i.e., total stockholders’ equity less preferred stock) less goodwill and identifiable intangible assets (other than MSRs), net of related deferred tax liabilities. ROTCE measures the Firm’s net income applicable to common equity as a percentage of average TCE. TBVPS represents the Firm’s TCE at period-end divided by common shares at period-end. TCE, ROTCE, and TBVPS are utilized by the Firm, as well as investors and analysts, in assessing the Firm’s use of equity.

(d)In addition to reviewing net interest income (“NII”), net yield, and noninterest revenue (“NIR”) on a managed basis, management also reviews these metrics excluding Markets, which is composed of Fixed Income Markets and Equity Markets, as shown below. Markets revenue consists of principal transactions, fees, commissions and other income, as well as net interest income. These metrics, which exclude Markets, are non-GAAP financial measures. Management reviews these metrics to assess the performance of the Firm’s lending, investing (including asset-liability management) and deposit-raising activities, apart from any volatility associated with Markets activities. In addition, management also assesses Markets business performance on a total revenue basis as offsets may occur across revenue lines. For example, securities that generate net interest income may be risk-managed by derivatives that are reflected at fair value in principal transactions revenue. Management believes these measures provide investors and analysts with alternative measures to analyze the revenue trends of the Firm. For additional information on Markets revenue, refer to pages 73-74 of the Firm’s 2025 Form 10-K.

| Line item | QUARTERLY TRENDS | SIX MONTHS ENDED JUNE 30, |
| --- | --- | --- |
| (in millions, except rates) | 2Q25 | 2025 |
| Net interest income - reported | $$$$$23,209%% | $$46,482% |
| Fully taxable-equivalent adjustments | 105 | 207 |
| Net interest income - managed basis | $$$$$23,314 | $$46,689 |
| Less: Markets net interest income | 561 | 1,346 |
| Net interest income excluding Markets | $$$$$22,753 | $$45,343 |
| Average interest-earning assets | $$$$$3,845,982 | $$3,757,674 |
| Less: Average Markets interest-earning assets | 1,387,584 | 1,321,732 |
| Average interest-earning assets excluding Markets | $$$$$2,458,398 | $$2,435,942 |
| Net yield on average interest-earning assets - managed basis (a) | 2.43%%%%% | 2.51%% |
| Net yield on average Markets interest-earning assets | 0.16 | 0.21 |
| Net yield on average interest-earning assets excluding Markets (a) | 3.71 | 3.75 |
| Noninterest revenue - reported | $$$$$21,703 | $$43,740 |
| Fully taxable-equivalent adjustments | 663 | 1,265 |
| Noninterest revenue - managed basis | $$$$$22,366 | $$45,005 |
| Less: Markets noninterest revenue | 8,375 | 17,253 |
| Noninterest revenue excluding Markets | $$$$$13,991 | $$27,752 |
| Memo: Markets total net revenue | $$$$$8,936 | $$18,599 |

(a) Includes the effect of derivatives that qualify for hedge accounting. Taxable-equivalent amounts are used where applicable. Refer to Note 5 of the Firm’s 2025 Form 10-K for additional information on hedge accounting.