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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): October 13, 2026
JPMorgan Chase & Co.
(Exact name of registrant as specified in its charter)
Delaware 1-5805 13-2624428
(State or other jurisdiction of
incorporation or organization)		 (Commission File Number) (I.R.S. employer
identification no.)
270 Park Avenue,
New York, 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 October 13, 2026, JPMorgan Chase & Co. (“JPMorganChase” or the “Firm”) reported 2026 third quarter net income of $15.3 billion, or $5.57 per share, compared with net income of $14.4 billion, or $5.07 per share, in the third quarter of 2025. A copy of the 2026 third 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 Reports on Form 10-Q for the quarters ended March 31, 2026 and June 30, 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
99.2
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).

2


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: October 13, 2026



3
EX-99.1 2 a3q26erfexhibit991narrative.htm JPMORGAN CHASE & CO. EARNINGS RELEASE - THIRD QUARTER 2026 RESULTS Document
Exhibit 99.1
JPMorgan Chase & Co.
270 Park Avenue, New York, NY 10017-2070
NYSE symbol: JPM
www.jpmorganchase.com
imagea.jpg
JPMORGANCHASE REPORTS THIRD-QUARTER 2026 NET INCOME OF $15.3 BILLION ($5.57 PER SHARE), NET INCOME OF $15.8 BILLION ($5.75 PER SHARE) EXCLUDING A SIGNIFICANT ITEM
THIRD-QUARTER 2026 RESULTS 1
ROE 17%
ROTCE2 20%
CET1 Capital Ratios3
Std. 13.9% | Adv. 14.1%
Total Loss-Absorbing Capacity3 $599B
Std. RWA3 $2.2T
Cash and marketable securities4 $1.5T
Average loans $1.6T
Firmwide Metrics
 n
Reported revenue of $50.2 billion and managed revenue2 of $50.9 billion
n
Expense of $27.3 billion; reported overhead ratio of 54% and managed overhead ratio2 of 54%
n
Credit costs of $2.7 billion with $2.2 billion of net charge-offs and a $539 million net reserve build
n
Average loans up 10% YoY and 2% QoQ; average deposits up 8% YoY and 2% QoQ
CCB

ROE 36%
 n
Average deposits up 4% YoY, flat QoQ; client investment assets up 15% YoY
n
Average loans up 2% YoY and 1% QoQ; Card Services net charge-off rate of 2.91%
n
Debit and credit card sales volume5 up 10% YoY
n
Active mobile customers6 up 7% YoY
CIB
  
ROE 18%
 n
Investment Banking fees up 14% YoY, down 8% QoQ; #1 ranking for Global Investment Banking fees with 9.2% wallet share YTD7
n
Markets revenue up 15% YoY, with Fixed Income Markets down 4% and Equity Markets up 49%
n
Average Banking & Payments loans up 11% YoY, flat QoQ; average client deposits8 up 10% YoY, up 1% QoQ
AWM

ROE 45%
n
AUM9 of $5.2 trillion, up 13% YoY
n
Average loans up 20% YoY and 6% QoQ; average deposits up 5% YoY, down 3% QoQ
Jamie Dimon, Chairman and CEO, commented on the financial results: “The Firm reported another quarter of strong results, generating net income of $15.8 billion and an ROTCE of 21%, excluding discretionary investment securities losses totaling $498 million after tax.”

Dimon continued: “Each line of business performed well. In the CIB, revenue increased 14%. Markets revenue and IB fees each rose at a mid-teens rate, helped by strong levels of client activity, although activity did moderate somewhat during the quarter. Meanwhile, Payments and Securities Services each posted double-digit revenue increases led by ongoing deposit and fee growth. In CCB, revenue rose 9%. We ranked #1 in U.S. retail deposits for the sixth consecutive year, and account acquisition remained strong in the quarter as we added over 650,000 net new checking accounts. Additionally, growth continued to be robust in Card, with strong demand for our set of products. Finally, in AWM, revenue grew 14%, and flows were very strong with $263 billion of client asset net inflows.”

Dimon added: “Our capital hierarchy has remained consistent over time, with investing in the franchise and supporting our clients at the top. In line with our hierarchy, we reduced share repurchases this quarter. We believe we can deploy this capital over time at very attractive returns for our shareholders.”

Dimon added: “The U.S. economy continued to be fueled by strong business investment and ongoing consumer spending. However, large fiscal deficits, sticky inflation, elevated asset prices, rising interest rates and geopolitical conditions continue to shift under the surface. These forces may be manageable, but we remain prepared for a wide range of outcomes.”

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 ITEM IN 3Q26 RESULTS
n    $658 million of net investment securities losses in Corporate10 ($0.18 decrease in EPS11)
CAPITAL DISTRIBUTIONS
n    Common dividend of $4.4 billion or $1.65 per share
n    $664 million of common stock net repurchases12
n    Net payout LTM12,13 of 61%
FORTRESS PRINCIPLES
n     Book value per share of $132.30, up 6% YoY; tangible book value per share2 of $112.64, up 7% YoY
n    Basel III common equity Tier 1 capital3 of $304 billion, Standardized ratio3 of 13.9% and Advanced ratio3 of 14.1%
n    Firm supplementary leverage ratio of 5.5%
SUPPORTED CONSUMERS, BUSINESSES & COMMUNITIES
n    Approximately $2.9 trillion of credit and capital14 raised YTD:
n    $240 billion of credit for consumers
n    $27 billion of credit for U.S. small businesses
n    $2.5 trillion of credit and capital for corporations15 and non-U.S. government entities
n    $79 billion of credit and capital for nonprofit and U.S. government entities, including states, municipalities, hospitals and universities
Investor Contact: Mikael Grubb (212) 270-2479
Media Contact: Joseph Evangelisti (212) 270-7438
Note: Totals may not sum due to rounding.
1 Percentage comparisons are for the third quarter of 2026 versus the prior-year third quarter, unless otherwise specified.
2 For notes on non-GAAP financial measures, including managed basis reporting, see page 6.
For additional notes, see page 7.
JPMorgan Chase & Co.
News Release
In the discussion below of Firmwide results of JPMorgan Chase & Co. (“JPMorganChase” or the “Firm”), information is presented on a managed basis, which is a non-GAAP financial measure, unless otherwise specified. The discussion below of the Firm’s business segments and Corporate is also presented on a managed basis. For more information about managed basis and non-GAAP financial measures used by management to evaluate the performance of each line of business, refer to page 6.
Comparisons noted in the sections below are for the third quarter of 2026 versus the prior-year third quarter, unless otherwise specified.
JPMORGANCHASE (JPM)
Results for JPM 2Q26 3Q25
($ millions, except per share data) 3Q26 2Q26 3Q25 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue - reported $ 50,172  $ 57,347  $ 46,427  $ (7,175) (13) % $ 3,745  8  %
Net revenue - managed 50,907  58,022  47,120  (7,115) (12) 3,787  8 
Noninterest expense 27,295  27,316  24,281  (21) —  3,014  12 
Provision for credit losses 2,743  2,515  3,403  228  9  (660) (19)
Net income $ 15,305  $ 21,155  $ 14,393  $ (5,850) (28) % $ 912  6  %
Earnings per share - diluted $ 5.57  $ 7.70  $ 5.07  $ (2.13) (28) % $ 0.50  10  %
Return on common equity 17  % 24  % 17  %
Return on tangible common equity 20  29  20 
Discussion of Results:
Net income was $15.3 billion, up 6%.
Net revenue was $50.9 billion, up 8%. Net interest income was $27.1 billion, up 13%. Noninterest revenue was $23.8 billion, up 3%.
Net interest income excluding Markets2 was $24.7 billion, up 6%, driven by higher deposit balances, higher balances in Card Services and higher wholesale loan balances, partially offset by the impact of lower rates. Noninterest revenue excluding Markets2 was $15.9 billion, up 7%, or up 12% also excluding $658 million of net investment securities losses, driven by higher asset management fees in AWM and CCB, higher investment banking fees, higher card income and higher auto operating lease income, partially offset by net losses on certain equity investments. Markets revenue was $10.3 billion, up 15%, predominantly driven by higher Equity Markets revenue.
Noninterest expense was $27.3 billion, up 12%, 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 and higher technology expense.
The provision for credit losses was $2.7 billion. Net charge-offs were $2.2 billion, down $389 million, driven by Wholesale. The net reserve build was $539 million, primarily in Wholesale. In the prior year, the provision was $3.4 billion, net charge-offs were $2.6 billion and the net reserve build was $810 million.

2
JPMorgan Chase & Co.
News Release
CONSUMER & COMMUNITY BANKING (CCB)
Results for CCB 2Q26 3Q25
($ millions) 3Q26 2Q26 3Q25 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
 $ 21,171  $ 20,272  $ 19,473  $ 899  4  % $ 1,698  9  %
Banking & Wealth Management 11,673  11,229  11,040  444  4  633  6 
Home Lending 1,217  1,285  1,260  (68) (5) (43) (3)
Card Services & Auto 8,281  7,758  7,173  523  7  1,108  15 
Noninterest expense 11,580  11,108  10,296  472  4  1,284  12 
Provision for credit losses 2,026  2,156  2,538  (130) (6) (512) (20)
Net income $ 5,670  $ 5,311  $ 5,009  $ 359  7  % $ 661  13  %
Discussion of Results:
Net income was $5.7 billion, up 13%.
Net revenue was $21.2 billion, up 9%. Banking & Wealth Management net revenue was $11.7 billion, up 6%, predominantly driven by higher asset management fees in J.P. Morgan Wealth Management as well as higher net interest income on higher deposit balances. Home Lending net revenue was $1.2 billion, down 3%, driven by lower production revenue, partially offset by higher net interest income. Card Services & Auto net revenue was $8.3 billion, up 15%, predominantly driven by higher Card Services net interest income on higher balances and higher net yield, as well as higher auto operating lease income.
Noninterest expense was $11.6 billion, up 12%, predominantly driven by higher marketing expense, higher technology expense, higher compensation for advisors and bankers and higher auto lease depreciation.
The provision for credit losses was $2.0 billion. Net charge-offs were $2.0 billion, relatively flat compared with the prior year. The net reserve build was $50 million. In the prior year, the provision was $2.5 billion, net charge-offs were $2.0 billion and the net reserve build was $575 million.

3
JPMorgan Chase & Co.
News Release
COMMERCIAL & INVESTMENT BANK (CIB)
Results for CIB 2Q26 3Q25
($ millions) 3Q26 2Q26 3Q25 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue $ 22,734  $ 24,853  $ 19,878  $ (2,119) (9) % $ 2,856  14  %
Banking & Payments 10,958  11,162  9,483  (204) (2) 1,475  16 
Markets & Securities Services 11,776  13,691  10,395  (1,915) (14) 1,381  13 
Noninterest expense 10,771  11,390  9,722  (619) (5) 1,049  11 
Provision for credit losses 663  356  809  307  86  (146) (18)
Net income $ 8,247  $ 9,678  $ 6,901  $ (1,431) (15) % $ 1,346  20  %

Discussion of Results:
Net income was $8.2 billion, up 20%.
Net revenue was $22.7 billion, up 14%. Banking & Payments revenue was $11.0 billion, up 16%. Investment Banking revenue was $3.1 billion, up 15%. Investment Banking fees were $3.0 billion, up 14%, predominantly driven by higher advisory fees. Payments revenue was $5.6 billion, up 14%, driven by higher deposit balances, higher deposit margin and fee growth. Lending revenue was $2.2 billion, up 20%, largely driven by lower losses on hedges of the retained lending portfolio and higher loan balances.
Markets & Securities Services revenue was $11.8 billion, up 13%. Markets revenue was $10.3 billion, up 15%. Fixed Income Markets revenue was $5.4 billion, down 4%, driven by lower revenue in Commodities, Rates, Credit and Public Finance, largely offset by higher revenue in Currencies & Emerging Markets. Equity Markets revenue was $5.0 billion, up 49%, driven by strong performance across products, particularly in Prime and Derivatives. Securities Services revenue was $1.6 billion, up 14%, predominantly driven by fee growth on higher market levels and client activity, as well as higher deposit balances and higher deposit margin.
Noninterest expense was $10.8 billion, up 11%, predominantly driven by higher brokerage expense and higher compensation expense, including higher revenue-related compensation.
The provision for credit losses was $663 million, predominantly driven by net lending activity and changes in the credit quality of certain exposures. The net reserve build was $452 million, and net charge-offs were $211 million. In the prior year, the provision was $809 million, net charge-offs were $567 million and the net reserve build was $242 million.
ASSET & WEALTH MANAGEMENT (AWM)
Results for AWM 2Q26 3Q25
($ millions) 3Q26 2Q26 3Q25 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue $ 6,909  $ 6,851  $ 6,066  $ 58  1  % $ 843  14  %
Noninterest expense 4,358  4,207  3,818  151  4  540  14 
Provision for credit losses 84  13  59  71  NM 25  42 
Net income $ 1,843  $ 1,957  $ 1,658  $ (114) (6) % $ 185  11  %
Discussion of Results:
Net income was $1.8 billion, up 11%.
Net revenue was $6.9 billion, up 14%, predominantly driven by growth in management fees on higher average market levels and strong net inflows, as well as higher loan balances.
Noninterest expense was $4.4 billion, up 14%, 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.
The provision for credit losses was $84 million. The net reserve build was $68 million, and net charge-offs were $16 million. In the prior year, the provision was $59 million, net charge-offs were $62 million and the net reserve release was $3 million.
Assets under management were $5.2 trillion, up 13%, and client assets were $7.9 trillion, up 15%, driven by continued net inflows and higher market levels.
4
JPMorgan Chase & Co.
News Release

CORPORATE
Results for Corporate 2Q26 3Q25
($ millions) 3Q26 2Q26 3Q25 $ O/(U) O/(U) % $ O/(U) O/(U) %
Net revenue
 $ 93  $ 6,046  $ 1,703  $ (5,953) (98) % $ (1,610) (95) %
Noninterest expense 586  611  445  (25) (4) 141  32 
Provision for credit losses (30) (10) (3) (20) (200) (27) NM
Net income/(loss) $ (455) $ 4,209  $ 825  $ (4,664) NM $ (1,280) NM
Discussion of Results:
Net loss was $455 million, compared with net income of $825 million in the prior year.
Net revenue was $93 million, down $1.6 billion. Net interest income was $669 million, down $737 million, predominantly driven by the impact of lower rates. Noninterest revenue was a loss of $576 million, compared with revenue of $297 million in the prior year. The current quarter included $658 million of net investment securities losses, compared with $105 million of net gains in the prior year.
Noninterest expense was $586 million, up $141 million.



5
JPMorgan Chase & Co.
News Release
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 $132.30, $133.01 and $124.96 at September 30, 2026, June 30, 2026 and September 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.Third-quarter 2026 net income, earnings per share and ROTCE excluding $658 million of net investment securities losses are non-GAAP financial measures. Excluding this item from third-quarter 2026 net income, earnings per share and ROTCE resulted in an increase of $498 million (after tax) to reported net income from $15.3 billion to $15.8 billion, an increase of $0.18 per share to reported EPS from $5.57 to $5.75 and an increase of 1 percentage point to reported ROTCE from 20% to 21%. Management believes these measures provide useful information to investors and analysts in assessing the Firm’s results.











6
JPMorgan Chase & Co.
News Release
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 52-58 of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 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 October 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.Net investment securities losses of $658 million were $498 million after tax.
11.Earnings Per Share (“EPS”).
12.Includes the net impact of employee issuances. Excludes excise tax and commissions.
13.Last twelve months (“LTM”).
14.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.
15.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. Corporations include U.S. and non-U.S. corporations.



7
JPMorgan Chase & Co.
News Release

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 $5.1 trillion in assets and $372 billion in stockholders’ equity as of September 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, October 13, 2026, at 8:30 a.m. (ET) to present third-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 will also be available by telephone from approximately 11:00 a.m. (ET) on October 13, 2026 through 12:59 a.m. (ET) on October 29, 2026 at 1 (800) 841-4034 (U.S. and Canada); +1 (203) 369-3360 (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 June 30, 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.


8
EX-99.2 3 a3q26erfex992supplement.htm JPMORGAN CHASE & CO. EARNINGS RELEASE FINANCIAL SUPPLEMENT - THIRD QUARTER 2026 Document

Exhibit 99.2




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EARNINGS RELEASE FINANCIAL SUPPLEMENT

THIRD QUARTER 2026













JPMORGAN CHASE & CO.
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TABLE OF CONTENTS
Page(s)
Consolidated Results
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 192-198 and pages 199-200, respectively, of the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026.























JPMORGAN CHASE & CO.
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CONSOLIDATED FINANCIAL HIGHLIGHTS
(in millions, except per share and ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
SELECTED INCOME STATEMENT DATA 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
Reported Basis
Total net revenue $ 50,172  $ 57,347  (f) $ 49,836  $ 45,798  $ 46,427  (13) % 8  % $ 157,355  (f) $ 136,649  15  %
Total noninterest expense 27,295  27,316  26,850  23,983  24,281  —  12  81,461  71,657  14 
Pre-provision profit (a) 22,877  30,031  22,986  21,815  22,146  (24) 3  75,894  64,992  17 
Provision for credit losses 2,743  2,515  2,507  4,655  (g) 3,403  9  (19) 7,765  9,557  (19)
NET INCOME 15,305  21,155  16,494  13,025  14,393  (28) 6  52,954  44,023  20 
Managed Basis (b)
Total net revenue 50,907  58,022  (f) 50,536  46,767  47,120  (12) 8  159,465  (f) 138,814  15 
Total noninterest expense 27,295  27,316  26,850  23,983  24,281  —  12  81,461  71,657  14 
Pre-provision profit (a) 23,612  30,706  23,686  22,784  22,839  (23) 3  78,004  67,157  16 
Provision for credit losses 2,743  2,515  2,507  4,655  (g) 3,403  9  (19) 7,765  9,557  (19)
NET INCOME 15,305  21,155  16,494  13,025  14,393  (28) 6  52,954  44,023  20 
EARNINGS PER SHARE DATA
Net income: Basic $ 5.58  $ 7.71  $ 5.95  $ 4.64  $ 5.08  (28) 10  $ 19.24  $ 15.41  25 
Diluted 5.57  7.70  5.94  4.63  5.07  (28) 10  19.20  15.38  25 
Average shares: Basic 2,678.6  2,689.9  2,716.2  2,735.3  2,762.4  —  (3) 2,694.9  2,790.2  (3)
Diluted 2,683.0  2,694.2  2,720.2  2,740.5  2,767.6  —  (3) 2,699.1  2,795.2  (3)
MARKET AND PER COMMON SHARE DATA
Market capitalization $ 878,555  $ 870,104  $ 788,205  $ 868,793  $ 858,683  1  2  $ 878,555  $ 858,683  2 
Common shares at period-end 2,655.6  2,658.2  2,679.5  2,696.2  2,722.2  —  (2) 2,655.6  2,722.2  (2)
Book value per share $ 132.30  $ 133.01  $ 128.38  $ 126.99  $ 124.96  (1) 6  $ 132.30  $ 124.96  6 
Tangible book value per share (“TBVPS”) (a) 112.64  113.35  108.87  107.56  105.70  (1) 7  112.64  105.70  7 
Cash dividends declared per share 1.65  1.50  1.50  1.50  1.50  10  10  4.65  4.30  8 
FINANCIAL RATIOS (c)
Return on common equity (“ROE”) 17  % 24  % 19  % 15  % 17  % 20  % 17  %
Return on tangible common equity (“ROTCE”) (a) 20  29  23  18  20  24  21 
Return on assets 1.21  1.70  1.41  1.14  1.26  1.44  1.34 
CAPITAL RATIOS
Common equity Tier 1 (“CET1”) capital ratio - Standardized (d) 13.9  % (e) 14.2  % 14.3  % 14.6  % 14.8  % 13.9  % (e) 14.8  %
Tier 1 capital ratio - Standardized (d) 14.8  (e) 15.1  15.2  15.5  15.8  14.8  (e) 15.8 
Total capital ratio - Standardized (d) 16.8  (e) 17.0  17.2  17.4  17.7  16.8  (e) 17.7 
Tier 1 leverage ratio 6.5  (e) 6.6  6.6  6.9  6.9  6.5  (e) 6.9 
Supplementary leverage ratio (“SLR”) 5.5  (e) 5.5  5.6  5.8  5.8  5.5  (e) 5.8 
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 each of September 30, 2026 and 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)Estimated.
(f)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 5 and Note 2 of JPMorganChase’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026 for additional information.
(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.




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JPMORGAN CHASE & CO.
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CONSOLIDATED FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratios, employee data and where otherwise noted)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
SELECTED BALANCE SHEET DATA (period-end)
Total assets $ 5,091,545  $ 5,015,069  $ 4,900,475  $ 4,424,900  $ 4,560,205  2  % 12  % $ 5,091,545  $ 4,560,205  12  %
Loans:
Consumer, excluding credit card loans 393,102  391,743  391,660  402,258  393,084  —  —  393,102  393,084  — 
Credit card loans 252,697  249,876  239,123  247,797  235,475  1  7  252,697  235,475  7 
Wholesale loans 938,842  900,843  872,737  843,374  806,687  4  16  938,842  806,687  16 
Total loans 1,584,641  1,542,462  1,503,520  1,493,429  1,435,246  3  10  1,584,641  1,435,246  10 
Deposits:
U.S. offices:
Noninterest-bearing 636,070  625,874  595,424  583,342  589,105  2  8  636,070  589,105  8 
Interest-bearing 1,535,474  1,500,791  1,508,682  1,452,729  1,433,404  2  7  1,535,474  1,433,404  7 
Non-U.S. offices:
Noninterest-bearing 39,945  42,044  43,775  37,057  34,255  (5) 17  39,945  34,255  17 
Interest-bearing 569,304  544,991  527,639  486,192  491,712  4  16  569,304  491,712  16 
Total deposits 2,780,793  2,713,700  2,675,520  2,559,320  2,548,476  2  9  2,780,793  2,548,476  9 
Long-term debt 460,160  460,523  448,764  435,206  427,203  —  8  460,160  427,203  8 
Common stockholders’ equity 351,328  353,558  343,993  342,393  340,167  (1) 3  351,328  340,167  3 
Total stockholders’ equity 372,368  374,598  364,038  362,438  360,212  (1) 3  372,368  360,212  3 
Loans-to-deposits ratio 57  % 57  % 56  % 58  % 56  % 57  % 56  %
Employees 322,964  320,560  320,079  318,512  318,153  1  2  322,964  318,153  2 
95% CONFIDENCE LEVEL - TOTAL VaR
Average VaR $ 48  $ 49  $ 37  $ 35  $ 33  (2) 45 
Earnings-at-Risk (in billions) (a)
Parallel shift:
+100 bps shift in rates $ 1.4  (c) $ 1.8  $ 1.9  $ 2.1  $ 1.8  (20) (22)
-100 bps shift in rates (2.2) (c) (2.4) (2.2) (2.4) (2.2) 10  — 
LINE OF BUSINESS (“LOB”) & CORPORATE NET REVENUE (b)
Consumer & Community Banking $ 21,171  $ 20,272  $ 19,568  $ 19,396  $ 19,473  4  9  $ 61,011  $ 56,633  8 
Commercial & Investment Bank 22,734  24,853  23,379  19,375  19,878  (9) 14  70,966  59,079  20 
Asset & Wealth Management 6,909  6,851  6,374  6,516  6,066  1  14  20,134  17,557  15 
Corporate 93  6,046  1,215  1,480  1,703  (98) (95) 7,354  5,545  33 
TOTAL NET REVENUE $ 50,907  $ 58,022  $ 50,536  $ 46,767  $ 47,120  (12) 8  $ 159,465  $ 138,814  15 
LOB & CORPORATE NET INCOME/(LOSS)
Consumer & Community Banking $ 5,670  $ 5,311  $ 4,976  $ 3,642  $ 5,009  7  13  $ 15,957  $ 14,603  9 
Commercial & Investment Bank 8,247  9,678  9,044  7,268  6,901  (15) 20  26,969  20,493  32 
Asset & Wealth Management 1,843  1,957  1,775  1,808  1,658  (6) 11  5,575  4,714  18 
Corporate (455) 4,209  699  307  825  NM NM 4,453  4,213  6 
NET INCOME $ 15,305  $ 21,155  $ 16,494  $ 13,025  $ 14,393  (28) 6  $ 52,954  $ 44,023  20 
(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.
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JPMORGAN CHASE & CO.
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CONSOLIDATED STATEMENTS OF INCOME
(in millions, except per share and ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
REVENUE 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
Investment banking fees $ 2,960  $ 3,208  $ 2,858  $ 2,326  $ 2,612  (8) % 13  % $ 9,026  $ 7,289  24  %
Principal transactions 6,516  9,007  7,987  5,340  7,109  (28) (8) 23,510  21,872  7 
Lending- and deposit-related fees 2,579  2,511  2,394  2,364  2,349  3  10  7,484  6,729  11 
Asset management fees 5,897  5,658  5,515  5,701  5,120  4  15  17,070  14,626  17 
Commissions and other fees 2,584  2,614  2,482  2,108  2,204  (1) 17  7,680  6,431  19 
Investment securities gains/(losses)
 (658) (395) 64  (71) 105  (67) NM (989) 14  NM
Mortgage fees and related income 274  336  309  357  383  (18) (28) 919  1,024  (10)
Card income 1,428  1,348  1,190  1,020  1,140  6  25  3,966  3,700  7 
Other income 1,556  7,549  (d) 1,671  1,658  1,439  (79) 8  10,776  (d) 4,516  139 
Noninterest revenue 23,136  31,836  24,470  20,803  22,461  (27) 3  79,442  66,201  20 
Interest income 53,056  50,624  49,191  48,808  49,439  5  7  152,871  144,533  6 
Interest expense 26,020  25,113  23,825  23,813  25,473  4  2  74,958  74,085  1 
Net interest income 27,036  25,511  25,366  24,995  23,966  6  13  77,913  70,448  11 
TOTAL NET REVENUE 50,172  57,347  49,836  45,798  46,427  (13) 8  157,355  136,649  15 
Provision for credit losses 2,743  2,515  2,507  4,655  (e) 3,403  9  (19) 7,765  9,557  (19)
NONINTEREST EXPENSE
Compensation expense 14,772  15,159  15,339  13,118  13,566  (3) 9  45,270  41,369  9 
Occupancy expense 1,525  1,482  1,447  1,475  1,420  3  7  4,454  3,986  12 
Technology, communications and equipment expense 3,335  3,107  3,021  2,908  2,839  7  17  9,463  8,121  17 
Professional and outside services 3,897  3,855  3,483  3,338  3,173  1  23  11,235  9,018  25 
Marketing 1,917  1,670  1,604  1,468  1,480  15  30  5,191  4,063  28 
Other expense (a) 1,849  2,043  1,956  1,676  (f) 1,803  (9) 3  5,848  5,100  15 
TOTAL NONINTEREST EXPENSE 27,295  27,316  26,850  23,983  24,281  —  12  81,461  71,657  14 
Income before income tax expense 20,134  27,516  20,479  17,160  18,743  (27) 7  68,129  55,435  23 
Income tax expense 4,829  6,361  3,985  4,135  4,350  (24) 11  15,175  11,412  (g) 33 
NET INCOME $ 15,305  $ 21,155  $ 16,494  $ 13,025  $ 14,393  (28) 6  $ 52,954  $ 44,023  20 
NET INCOME PER COMMON SHARE DATA
Basic earnings per share $ 5.58  $ 7.71  $ 5.95  $ 4.64  $ 5.08  (28) 10  $ 19.24  $ 15.41  25 
Diluted earnings per share 5.57  7.70  5.94  4.63  5.07  (28) 10  19.20  15.38  25 
FINANCIAL RATIOS
Return on common equity (b) 17  % 24  % 19  % 15  % 17  % 20  % 17  %
Return on tangible common equity (b)(c) 20  29  23  18  20  24  21 
Return on assets (b) 1.21  1.70  1.41  1.14  1.26  1.44  1.34 
Effective income tax rate 24.0  23.1  19.5  24.1  23.2  22.3  20.6  (g)
Overhead ratio 54  48  54  52  52  52  52 
(a)Included Firmwide legal expense of $63 million, $116 million, $223 million, $60 million and $62 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $402 million and $301 million for the nine months ended September 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 (f) 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.

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JPMORGAN CHASE & CO.
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CONSOLIDATED BALANCE SHEETS
(in millions)
Sep 30, 2026
Change
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30,
2026 2026 2026 2025 2025 2026 2025
ASSETS
Cash and due from banks $ 21,259  $ 24,720  $ 22,039  $ 21,742  $ 21,821  (14) % (3) %
Deposits with banks 305,012  285,091  290,103  321,596  281,615  7  8 
Federal funds sold and securities purchased under
resale agreements 461,851  446,143  482,704  336,426  425,815  4  8 
Securities borrowed 329,862  362,487  284,524  286,191  248,368  (9) 33 
Trading assets:
Debt and equity instruments 1,014,541  994,305  997,751  745,096  892,928  2  14 
Derivative receivables 78,811  67,767  71,584  57,777  59,849  16  32 
Available-for-sale (“AFS”) securities 547,191  536,048  549,037  507,198  490,499  (a) 2  12 
Held-to-maturity (”HTM”) securities 274,564  268,474  272,142  270,134  293,446  (a) 2  (6)
Investment securities, net of allowance for credit losses 821,755  804,522  821,179  777,332  783,945  2  5 
Loans 1,584,641  1,542,462  1,503,520  1,493,429  1,435,246  3  10 
Less: Allowance for loan losses 26,272  26,152  25,928  25,765  25,735  —  2 
Loans, net of allowance for loan losses 1,558,369  1,516,310  1,477,592  1,467,664  1,409,511  3  11 
Accrued interest and accounts receivable
 164,997  179,939  142,334  111,599  141,876  (8) 16 
Premises and equipment 38,678  37,701  36,771  36,244  35,063  3  10 
Goodwill, MSRs and other intangible assets 64,870  64,304  64,289  64,458  64,442  1  1 
Other assets 231,540  231,780  209,605  198,775  194,972  —  19 
TOTAL ASSETS $ 5,091,545  $ 5,015,069  $ 4,900,475  $ 4,424,900  $ 4,560,205  2  12 
LIABILITIES
Deposits $ 2,780,793  $ 2,713,700  $ 2,675,520  $ 2,559,320  $ 2,548,476  2  9 
Federal funds purchased and securities loaned or sold
under repurchase agreements 703,392  704,918  716,623  442,396  567,574  —  24 
Short-term borrowings 71,339  72,430  68,048  64,776  69,355  (2) 3 
Trading liabilities:
Debt and equity instruments 234,775  208,648  196,546  169,690  195,859  13  20 
Derivative payables 63,136  66,488  51,290  46,329  46,403  (5) 36 
Accounts payable and other liabilities 377,354  384,290  352,561  316,794  316,896  (2) 19 
Beneficial interests issued by consolidated VIEs 28,228  29,474  27,085  27,951  28,227  (4) — 
Long-term debt 460,160  460,523  448,764  435,206  427,203  —  8 
TOTAL LIABILITIES 4,719,177  4,640,471  4,536,437  4,062,462  4,199,993  2  12 
STOCKHOLDERS’ EQUITY
Preferred stock 21,040  21,040  20,045  20,045  20,045  —  5 
Common stock 4,105  4,105  4,105  4,105  4,105  —  — 
Additional paid-in capital 90,893  90,559  90,087  91,114  90,865  —  — 
Retained earnings 455,587  445,020  428,206  416,055  407,401  2  12 
Accumulated other comprehensive loss (“AOCI”)
 (19,820) (7,693) (6,689) (4,290) (5,878) (158) (237)
Treasury stock, at cost (179,437) (178,433) (171,716) (164,591) (156,326) (1) (15)
TOTAL STOCKHOLDERS’ EQUITY 372,368  374,598  364,038  362,438  360,212  (1) 3 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,091,545  $ 5,015,069  $ 4,900,475  $ 4,424,900  $ 4,560,205  2  12 
(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.
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JPMORGAN CHASE & CO.
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CONDENSED AVERAGE BALANCE SHEETS AND ANNUALIZED YIELDS
(in millions, except rates)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
AVERAGE BALANCES 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
ASSETS
Deposits with banks $ 339,312  $ 336,127  $ 312,890  $ 335,623  $ 360,156  1  % (6) % $ 329,540  $ 403,490  (18) %
Federal funds sold and securities purchased under resale agreements 437,477  459,513  437,916  330,694  424,346  (5) 3  444,968  411,857  8 
Securities borrowed 329,704  313,154  286,689  261,877  234,112  5  41  310,006  236,355  31 
Trading assets - debt instruments 703,683  706,817  682,348  620,465  580,985  —  21  697,694  546,679  28 
Investment securities 830,015  807,893  802,265  788,922  768,599  3  8  813,492  720,785  13 
Loans 1,559,085  1,521,295  1,486,145  1,461,079  1,417,466  2  10  1,522,443  1,379,480  10 
All other interest-earning assets (a) 136,940  143,155  127,484  125,164  110,100  (4) 24  135,894  105,564  29 
Total interest-earning assets 4,336,216  4,287,954  4,135,737  3,923,824  3,895,764  1  11  4,254,037  3,804,210  12 
Trading assets - equity and other instruments 277,567  287,124  241,307  241,351  264,681  (3) 5  268,799  243,526  10 
Trading assets - derivative receivables 71,880  74,352  68,328  57,543  61,842  (3) 16  71,533  59,524  20 
All other noninterest-earning assets 335,710  327,658  313,365  306,700  297,658  2  13  325,659  291,408  12 
TOTAL ASSETS $ 5,021,373  $ 4,977,088  $ 4,758,737  $ 4,529,418  $ 4,519,945  1  11  $ 4,920,028  $ 4,398,668  12 
LIABILITIES
Interest-bearing deposits $ 2,078,869  $ 2,047,761  $ 1,991,590  $ 1,949,049  $ 1,913,958  2  9  $ 2,039,726  $ 1,886,654  8 
Federal funds purchased and securities loaned or
sold under repurchase agreements 682,884  725,804  657,816  517,849  567,920  (6) 20  688,926  530,765  30 
Short-term borrowings
 58,618  54,013  55,469  56,265  53,755  9  9  56,045  52,717  6 
Trading liabilities - debt and all other interest-bearing liabilities (b)
 353,966  349,693  324,559  306,567  314,591  1  13  342,848  301,051  14 
Beneficial interests issued by consolidated VIEs 29,044  28,065  27,519  27,327  28,884  3  1  28,215  26,959  5 
Long-term debt 380,063  372,504  367,478  359,910  350,368  2  8  373,394  347,915  7 
Total interest-bearing liabilities 3,583,444  3,577,840  3,424,431  3,216,967  3,229,476  —  11  3,529,154  3,146,061  12 
Noninterest-bearing deposits 655,098  637,817  611,294  615,559  610,601  3  7  634,897  600,350  6 
Trading liabilities - equity and other instruments 76,318  67,958  57,021  52,059  48,628  12  57  67,169  43,526  54 
Trading liabilities - derivative payables 62,568  64,622  55,309  47,591  47,926  (3) 31  60,859  43,318  40 
All other noninterest-bearing liabilities 271,545  264,509  249,587  236,876  226,934  3  20  261,962  215,175  22 
TOTAL LIABILITIES 4,648,973  4,612,746  4,397,642  4,169,052  4,163,565  1  12  4,554,041  4,048,430  12 
Preferred stock 21,040  21,196  20,045  20,045  20,045  (1) 5  20,764  20,035  4 
Common stockholders’ equity 351,360  343,146  341,050  340,321  336,335  2  4  345,223  330,203  5 
TOTAL STOCKHOLDERS’ EQUITY 372,400  364,342  361,095  360,366  356,380  2  4  365,987  350,238  4 
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $ 5,021,373  $ 4,977,088  $ 4,758,737  $ 4,529,418  $ 4,519,945  1  11  $ 4,920,028  $ 4,398,668  12 
AVERAGE RATES (c)
INTEREST-EARNING ASSETS
Deposits with banks 2.91  % 2.81  % 3.00  % 3.10  % 3.25  % 2.90  % 3.47  %
Federal funds sold and securities purchased under resale agreements 3.79  3.68  3.88  4.06  4.24  3.78  4.33 
Securities borrowed 3.34  3.30  3.35  3.55  3.67  3.33  3.78 
Trading assets - debt instruments 4.42  4.23  4.30  4.33  4.30  4.32  4.44 
Investment securities 3.79  3.74  3.69  3.74  3.86  3.74  3.85 
Loans 6.59  6.48  6.57  6.63  6.74  6.55  6.75 
All other interest-earning assets (a)(d) 5.94  5.64  5.79  6.24  7.43  5.79  7.31 
Total interest-earning assets 4.86  4.75  4.83  4.95  5.05  4.82  5.09 
INTEREST-BEARING LIABILITIES
Interest-bearing deposits 2.18  2.11  2.09  2.24  2.41  2.13  2.42 
Federal funds purchased and securities loaned or
sold under repurchase agreements 3.80  3.69  3.79  3.99  4.22  3.76  4.33 
Short-term borrowings
 4.00  3.84  3.85  4.01  4.35  3.90  4.39 
Trading liabilities - debt and all other interest-bearing liabilities (b) 2.85  2.77  2.83  2.95  2.92  2.82  2.97 
Beneficial interests issued by consolidated VIEs 3.92  3.93  3.92  4.23  4.58  3.92  4.59 
Long-term debt 4.86  4.81  4.79  4.92  5.16  4.82  5.16 
Total interest-bearing liabilities 2.88  2.82  2.82  2.94  3.13  2.84  3.15 
INTEREST RATE SPREAD 1.98  1.93  2.01  2.01  1.92  1.98  1.94 
NET YIELD ON INTEREST-EARNING ASSETS 2.48  2.40  2.50  2.54  2.45  2.46  2.49 
Memo: Net yield on interest-earning assets excluding Markets (e) 3.70  3.65  3.72  3.76  3.73  3.69  3.74 
(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.

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JPMORGAN CHASE & CO.
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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.
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
OTHER INCOME
Other income - reported $ 1,556  $ 7,549  $ 1,671  $ 1,658  $ 1,439  (79) % 8  % $ 10,776  $ 4,516  139  %
Fully taxable-equivalent adjustments (a) 626  564  587  856  588  11  6  1,777  1,853  (4)
Other income - managed $ 2,182  $ 8,113  $ 2,258  $ 2,514  $ 2,027  (73) 8  $ 12,553  $ 6,369  97 
TOTAL NONINTEREST REVENUE
Total noninterest revenue - reported $ 23,136  $ 31,836  $ 24,470  $ 20,803  $ 22,461  (27) 3  $ 79,442  $ 66,201  20 
Fully taxable-equivalent adjustments 626  564  587  856  588  11  6  1,777  1,853  (4)
Total noninterest revenue - managed $ 23,762  $ 32,400  $ 25,057  $ 21,659  $ 23,049  (27) 3  $ 81,219  $ 68,054  19 
NET INTEREST INCOME
Net interest income - reported $ 27,036  $ 25,511  $ 25,366  $ 24,995  $ 23,966  6  13  $ 77,913  $ 70,448  11 
Fully taxable-equivalent adjustments (a) 109  111  113  113  105  (2) 4  333  312  7 
Net interest income - managed $ 27,145  $ 25,622  $ 25,479  $ 25,108  $ 24,071  6  13  $ 78,246  $ 70,760  11 
TOTAL NET REVENUE
Total net revenue - reported $ 50,172  $ 57,347  $ 49,836  $ 45,798  $ 46,427  (13) 8  $ 157,355  $ 136,649  15 
Fully taxable-equivalent adjustments 735  675  700  969  693  9  6  2,110  2,165  (3)
Total net revenue - managed $ 50,907  $ 58,022  $ 50,536  $ 46,767  $ 47,120  (12) 8  $ 159,465  $ 138,814  15 
PRE-PROVISION PROFIT
Pre-provision profit - reported $ 22,877  $ 30,031  $ 22,986  $ 21,815  $ 22,146  (24) 3  $ 75,894  $ 64,992  17 
Fully taxable-equivalent adjustments 735  675  700  969  693  9  6  2,110  2,165  (3)
Pre-provision profit - managed $ 23,612  $ 30,706  $ 23,686  $ 22,784  $ 22,839  (23) 3  $ 78,004  $ 67,157  16 
INCOME BEFORE INCOME TAX EXPENSE
Income before income tax expense - reported $ 20,134  $ 27,516  $ 20,479  $ 17,160  $ 18,743  (27) 7  $ 68,129  $ 55,435  23 
Fully taxable-equivalent adjustments 735  675  700  969  693  9  6  2,110  2,165  (3)
Income before income tax expense - managed $ 20,869  $ 28,191  $ 21,179  $ 18,129  $ 19,436  (26) 7  $ 70,239  $ 57,600  22 
INCOME TAX EXPENSE
Income tax expense - reported $ 4,829  $ 6,361  $ 3,985  $ 4,135  $ 4,350  (24) 11  $ 15,175  $ 11,412  33 
Fully taxable-equivalent adjustments 735  675  700  969  693  9  6  2,110  2,165  (3)
Income tax expense - managed $ 5,564  $ 7,036  $ 4,685  $ 5,104  $ 5,043  (21) 10  $ 17,285  $ 13,577  27 
OVERHEAD RATIO
Overhead ratio - reported 54  % 48  % 54  % 52  % 52  % 52  % 52  %
Overhead ratio - managed 54  47  53  51  52  51  52 
(a)For other income, recognized in CIB, and for net interest income, predominantly recognized in CIB and Corporate.

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JPMORGAN CHASE & CO.
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SEGMENT & CORPORATE RESULTS - MANAGED BASIS
(in millions)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
TOTAL NET REVENUE (fully taxable-equivalent (“FTE”))
Consumer & Community Banking $ 21,171  $ 20,272  $ 19,568  $ 19,396  $ 19,473  4  % 9  % $ 61,011  $ 56,633  8  %
Commercial & Investment Bank
 22,734  24,853  23,379  19,375  19,878  (9) 14  70,966  59,079  20 
Asset & Wealth Management 6,909  6,851  6,374  6,516  6,066  1  14  20,134  17,557  15 
Corporate 93  6,046  1,215  1,480  1,703  (98) (95) 7,354  5,545  33 
TOTAL NET REVENUE $ 50,907  $ 58,022  (a) $ 50,536  $ 46,767  $ 47,120  (12) 8  $ 159,465  (a) $ 138,814  15 
TOTAL NONINTEREST EXPENSE
Consumer & Community Banking $ 11,580  $ 11,108  $ 10,979  $ 10,256  $ 10,296  4  12  $ 33,667  $ 30,011  12 
Commercial & Investment Bank
 10,771  11,390  11,136  9,011  9,722  (5) 11  33,297  29,205  14 
Asset & Wealth Management 4,358  4,207  4,167  4,068  3,818  4  14  12,732  11,264  13 
Corporate 586  611  568  648  445  (4) 32  1,765  1,177  50 
TOTAL NONINTEREST EXPENSE $ 27,295  $ 27,316  $ 26,850  $ 23,983  $ 24,281  —  12  $ 81,461  $ 71,657  14 
PRE-PROVISION PROFIT/(LOSS)
Consumer & Community Banking $ 9,591  $ 9,164  $ 8,589  $ 9,140  $ 9,177  5  5  $ 27,344  $ 26,622  3 
Commercial & Investment Bank
 11,963  13,463  12,243  10,364  10,156  (11) 18  37,669  29,874  26 
Asset & Wealth Management 2,551  2,644  2,207  2,448  2,248  (4) 13  7,402  6,293  18 
Corporate (493) 5,435  647  832  1,258  NM NM 5,589  4,368  28 
PRE-PROVISION PROFIT $ 23,612  $ 30,706  $ 23,686  $ 22,784  $ 22,839  (23) 3  $ 78,004  $ 67,157  16 
PROVISION FOR CREDIT LOSSES
Consumer & Community Banking $ 2,026  $ 2,156  $ 2,050  $ 4,244  $ 2,538  (6) (20) $ 6,232  $ 7,249  (14)
Commercial & Investment Bank
 663  356  482  405  809  86  (18) 1,501  2,210  (32)
Asset & Wealth Management 84  13  (24) 2  59  NM 42  73  95  (23)
Corporate (30) (10) (1) 4  (3) (200) NM (41) 3  NM
PROVISION FOR CREDIT LOSSES $ 2,743  $ 2,515  $ 2,507  $ 4,655  $ 3,403  9  (19) $ 7,765  $ 9,557  (19)
NET INCOME/(LOSS)
Consumer & Community Banking $ 5,670  $ 5,311  $ 4,976  $ 3,642  $ 5,009  7  13  $ 15,957  $ 14,603  9 
Commercial & Investment Bank
 8,247  9,678  9,044  7,268  6,901  (15) 20  26,969  20,493  32 
Asset & Wealth Management 1,843  1,957  1,775  1,808  1,658  (6) 11  5,575  4,714  18 
Corporate (455) 4,209  699  307  825  NM NM 4,453  4,213  6 
TOTAL NET INCOME $ 15,305  $ 21,155  $ 16,494  $ 13,025  $ 14,393  (28) 6  $ 52,954  $ 44,023  20 
(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 (f) on page 2 for further information.

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JPMORGAN CHASE & CO.
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CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS
(in millions, except ratio data)
Sep 30, 2026
Change NINE MONTHS ENDED SEPTEMBER 30,
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30, 2026 Change
2026 2026 2026 2025 2025 2026 2025 2026 2025 2025
CAPITAL
Risk-based capital metrics
Standardized
CET1 capital $ 304,142  (b) $ 302,619  $ 291,152  $ 288,469  $ 287,297  1  % 6  %
Tier 1 capital 324,243  (b) 322,720  310,317  307,630  306,599  —  6 
Total capital 367,075  (b) 362,723  349,931  343,843  343,215  1  7 
Risk-weighted assets 2,183,531  (b) 2,132,428  2,039,324  1,981,692  1,935,868  2  13 
CET1 capital ratio 13.9  % (b) 14.2  % 14.3  % 14.6  % 14.8  %
Tier 1 capital ratio 14.8  (b) 15.1  15.2  15.5  15.8 
Total capital ratio 16.8  (b) 17.0  17.2  17.4  17.7 
Advanced
CET1 capital $ 304,142  (b) $ 302,619  $ 291,152  $ 288,469  $ 287,297  1  6 
Tier 1 capital 324,243  (b) 322,720  310,317  307,630  306,599  —  6 
Total capital 350,267  (b) 346,248  334,355  328,962  328,356  1  7 
Risk-weighted assets 2,164,332  (b) 2,123,862  2,061,341  (c) 2,045,249  1,932,404  2  12 
CET1 capital ratio 14.1  %
(b)
 14.2  % 14.1  % 14.1  % 14.9  %
Tier 1 capital ratio 15.0 
(b)
 15.2  15.1  15.0  15.9 
Total capital ratio 16.2 
(b)
 16.3  16.2  16.1  17.0 
Leverage-based capital metrics
Adjusted average assets (a) $ 4,965,490  (b) $ 4,921,814  $ 4,702,980  $ 4,472,394  $ 4,464,441  1  11 
Tier 1 leverage ratio 6.5  % (b) 6.6  % 6.6  % 6.9  % 6.9  %
Total leverage exposure $ 5,934,748  (b) $ 5,844,422  $ 5,576,930  $ 5,302,001  $ 5,272,950  2  13 
SLR 5.5  % (b) 5.5  % 5.6  % 5.8  % 5.8  %
Total Loss-Absorbing Capacity (“TLAC”)
Eligible external TLAC $ 598,651  (b) $ 590,505  $ 572,047  $ 563,743  $ 567,557  1  5 
MEMO: CET1 CAPITAL ROLLFORWARD
Standardized/Advanced CET1 capital, beginning balance $ 302,619  $ 291,152  $ 288,469  $ 287,297  $ 283,854  4  7  $ 288,469  $ 275,513  5  %
Net income applicable to common equity 15,000  20,847  16,218  12,745  14,111  (28) 6  52,065  43,204  21 
Dividends declared on common stock (4,433) (4,033) (4,067) (4,091) (4,134) (10) (7) (12,533) (11,969) (5)
Net purchase of treasury stock (1,004) (6,717) (7,125) (8,265) (8,343) 85  88  (14,846) (22,308) 33 
Changes in additional paid-in capital 334  472  (1,027) 249  289  (29) 16  (221) (46) (380)
Changes related to AOCI applicable to capital:
Unrealized gains/(losses) on investment securities (7,893) 320  (2,401) 1,295  1,509  NM NM (9,974) 2,274  NM
Translation adjustments, net of hedges (29) (21) (167) (6) (12) (38) (142) (217) 1,345  NM
Fair value hedges 24  (9) 41  7  37  NM (35) 56  57  (2)
Defined benefit pension and other postretirement employee benefit plans 179  37  4  619  4  384  NM 220  (40) NM
Changes related to other CET1 capital adjustments (655) (b) 571  1,207  (1,381) (18) NM NM 1,123  (b) (733) NM
Change in Standardized/Advanced CET1 capital 1,523  (b) 11,467  2,683  1,172  3,443  (87) (56) 15,673  (b) 11,784  33 
Standardized/Advanced CET1 capital, ending balance $ 304,142  (b) $ 302,619  $ 291,152  $ 288,469  $ 287,297  1  6  $ 304,142  (b) $ 287,297  6 
(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.

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JPMORGAN CHASE & CO.
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CAPITAL AND OTHER SELECTED BALANCE SHEET ITEMS, CONTINUED
(in millions, except ratio data)
Sep 30, 2026
Change NINE MONTHS ENDED SEPTEMBER 30,
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30, 2026 Change
2026 2026 2026 2025 2025 2026 2025 2026 2025 2025
TANGIBLE COMMON EQUITY (period-end) (a)
Common stockholders’ equity $ 351,328  $ 353,558  $ 343,993  $ 342,393  $ 340,167  (1) % 3  %
Less: Goodwill 52,717  52,711  52,706  52,731  52,717  —  — 
Less: Other intangible assets 2,378  2,437  2,490  2,560  2,615  (2) (9)
Add: Certain deferred tax liabilities (b) 2,897  2,904  2,911  2,916  2,906  —  — 
Total tangible common equity $ 299,130  $ 301,314  $ 291,708  $ 290,018  $ 287,741  (1) 4 
TANGIBLE COMMON EQUITY (average) (a)
Common stockholders’ equity $ 351,360  $ 343,146  $ 341,050  $ 340,321  $ 336,335  2  4  $ 345,223  $ 330,203  5  %
Less: Goodwill 52,737  52,740  52,737  52,703  52,731  —  —  52,738  52,669  — 
Less: Other intangible assets 2,407  2,463  2,518  2,574  2,678  (2) (10) 2,462  2,749  (10)
Add: Certain deferred tax liabilities (b) 2,900  2,909  2,915  2,903  2,917  —  (1) 2,908  2,927  (1)
Total tangible common equity $ 299,116  $ 290,852  $ 288,710  $ 287,947  $ 283,843  3  5  $ 292,931  $ 277,712  5 
INTANGIBLE ASSETS (period-end)
Goodwill $ 52,717  $ 52,711  $ 52,706  $ 52,731  $ 52,717  —  — 
Mortgage servicing rights 9,775  9,156  9,093  9,167  9,110  7  7 
Other intangible assets 2,378  2,437  2,490  2,560  2,615  (2) (9)
Total intangible assets $ 64,870  $ 64,304  $ 64,289  $ 64,458  $ 64,442  1  1 
(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.

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JPMORGAN CHASE & CO.
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EARNINGS PER SHARE AND RELATED INFORMATION
(in millions, except per share and ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
EARNINGS PER SHARE
Basic earnings per share
Net income $ 15,305  $ 21,155  $ 16,494  $ 13,025  $ 14,393  (28) % 6  % $ 52,954  $ 44,023  20  %
Less: Preferred stock dividends 305  308  276  280  282  (1) 8  889  819  9 
Net income applicable to common equity 15,000  20,847  16,218  12,745  14,111  (28) 6  52,065  43,204  21 
Less: Dividends and undistributed earnings allocated to
participating securities 64  95  70  56  68  (33) (6) 228  213  7 
Net income applicable to common stockholders $ 14,936  $ 20,752  $ 16,148  $ 12,689  $ 14,043  (28) 6  $ 51,837  $ 42,991  21 
Total weighted-average basic shares outstanding 2,678.6  2,689.9  2,716.2  2,735.3  2,762.4  —  (3) 2,694.9  2,790.2  (3)
Net income per share $ 5.58  $ 7.71  $ 5.95  $ 4.64  $ 5.08  (28) 10  $ 19.24  $ 15.41  25 
Diluted earnings per share
Net income applicable to common stockholders $ 14,936  $ 20,752  $ 16,148  $ 12,689  $ 14,043  (28) 6  $ 51,837  $ 42,991  21 
Total weighted-average basic shares outstanding 2,678.6  2,689.9  2,716.2  2,735.3  2,762.4  —  (3) 2,694.9  2,790.2  (3)
Add: Dilutive impact of unvested performance share units
    (“PSUs”), nondividend-earning restricted stock units
    (“RSUs”) and stock appreciation rights (“SARs”)		 4.4  4.3  4.0  5.2  5.2  2  (15) 4.2  5.0  (16)
Total weighted-average diluted shares outstanding 2,683.0  2,694.2  2,720.2  2,740.5  2,767.6  —  (3) 2,699.1  2,795.2  (3)
Net income per share $ 5.57  $ 7.70  $ 5.94  $ 4.63  $ 5.07  (28) 10  $ 19.20  $ 15.38  25 
COMMON DIVIDENDS
Cash dividends declared per share
 $ 1.65 
(c)
 $ 1.50  $ 1.50  $ 1.50  $ 1.50  10  10  $ 4.65  $ 4.30  8 
Dividend payout ratio 30  % 19  % 25  % 32  % 29  % 24  % 28  %
COMMON SHARE REPURCHASE PROGRAM (a)
Total shares of common stock repurchased 3.1  21.7  27.5  26.7  28.0  (86) (89) 52.3  87.7  (40)
Average price paid per share of common stock $ 342.33  $ 308.21  $ 302.75  $ 309.81  $ 297.10  11  15  $ 307.36  $ 266.44  15 
Aggregate repurchases of common stock 1,057  6,703  8,328  8,262  8,315  (84) (87) 16,088  23,378  (31)
EMPLOYEE ISSUANCE
Shares issued from treasury stock related to employee
stock-based compensation awards and employee stock
purchase plans 0.5  0.4  10.8  0.7  0.4  25  25  11.7  12.3  (5)
Net impact of employee issuances on stockholders’ equity (b)
 $ 393  $ 518  $ 221  $ 322  $ 339  (24) 16  $ 1,132  $ 1,234  (8)
(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 15, 2026, the Board of Directors declared quarterly common stock dividends of $1.65 per share.



















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JPMORGAN CHASE & CO.
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CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
INCOME STATEMENT
REVENUE
Lending- and deposit-related fees $ 1,036  $ 971  $ 947  $ 973  $ 969  7  % 7  % $ 2,954  $ 2,696  10  %
Asset management fees 1,469  1,379  1,303  1,277  1,189  7  24  4,151  3,392  22 
Mortgage fees and related income 258  325  303  344  372  (21) (31) 886  982  (10)
Card income 770  691  592  376  514  11  50  2,053  1,854  11 
All other income (a) 1,819  1,814  1,685  1,585  1,573  —  16  5,318  4,316  23 
Noninterest revenue 5,352  5,180  4,830  4,555  4,617  3  16  15,362  13,240  16 
Net interest income 15,819  15,092  14,738  14,841  14,856  5  6  45,649  43,393  5 
TOTAL NET REVENUE 21,171  20,272  19,568  19,396  19,473  4  9  61,011  56,633  8 
Provision for credit losses 2,026  2,156  2,050  4,244  (d) 2,538  (6) (20) 6,232  7,249  (14)
NONINTEREST EXPENSE
Compensation expense 4,715  4,682  4,622  4,392  (e) 4,357  (e) 1  8  14,019  12,992  (e) 8 
Noncompensation expense (b) 6,865  6,426  6,357  5,864  (e) 5,939  (e) 7  16  19,648  17,019  (e) 15 
TOTAL NONINTEREST EXPENSE 11,580  11,108  10,979  10,256  10,296  4  12  33,667  30,011  12 
Income before income tax expense 7,565  7,008  6,539  4,896  6,639  8  14  21,112  19,373  9 
Income tax expense 1,895  1,697  1,563  1,254  1,630  12  16  5,155  4,770  8 
NET INCOME $ 5,670  $ 5,311  $ 4,976  $ 3,642  $ 5,009  7  13  $ 15,957  $ 14,603  9 
REVENUE BY BUSINESS
Banking & Wealth Management $ 11,673  $ 11,229  $ 10,577  $ 10,870  $ 11,040  4  6  $ 33,479  $ 31,992  5 
Home Lending 1,217  1,285  1,232  1,249  1,260  (5) (3) 3,734  3,717  — 
Card Services & Auto 8,281  7,758  7,759  7,277  7,173  7  15  23,798  20,924  14 
MORTGAGE FEES AND RELATED INCOME DETAILS
Production revenue 46  147  178  188  173  (69) (73) 371  434  (15)
Net mortgage servicing revenue (c) 212  178  125  156  199  19  7  515  548  (6)
Mortgage fees and related income $ 258  $ 325  $ 303  $ 344  $ 372  (21) (31) $ 886  $ 982  (10)
FINANCIAL RATIOS
ROE 36  % 34  % 32  % 25  % 35  % 34  % 34  %
Overhead ratio 55  55  56  53  53  55  53 
(a)Primarily includes operating lease income and commissions and other fees. Operating lease income was $1.2 billion, $1.2 billion, $1.2 billion, $1.1 billion and $987 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $3.6 billion and $2.7 billion for the nine months ended September 30, 2026 and 2025, respectively.
(b)Included depreciation expense on leased assets of $792 million, $694 million, $756 million, $670 million and $649 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $2.2 billion and $1.7 billion for the nine months ended September 30, 2026 and 2025, respectively.
(c)Included MSR risk management results of $73 million, $39 million, $(15) million, $7 million and $55 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $97 million and $111 million for the nine months ended September 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.


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JPMORGAN CHASE & CO.
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CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except employee data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
SELECTED BALANCE SHEET DATA (period-end)
Total assets $ 674,011  $ 672,612  $ 656,051  $ 664,669  $ 652,275  —  % 3  % $ 674,011  $ 652,275  3  %
Loans:
Banking & Wealth Management
 34,457  34,337  32,992  33,005  33,259  —  4  34,457  33,259  4 
Home Lending (a)
 233,538  237,176  238,571  240,724  240,633  (2) (3) 233,538  240,633  (3)
Card Services 252,684  249,816  239,065  247,753  235,491  1  7  252,684  235,491  7 
Auto 73,041  72,220  70,958  70,585  71,095  1  3  73,041  71,095  3 
Total loans 593,720  593,549  581,586  592,067  580,478  —  2  593,720  580,478  2 
Deposits 1,104,429  1,093,862  1,112,078  1,072,792  1,058,388  1  4  1,104,429  1,058,388  4 
Equity 61,500  61,500  61,500  56,000  56,000  —  10  61,500  56,000  10 
SELECTED BALANCE SHEET DATA (average)
Total assets $ 672,863  $ 662,460  $ 655,977  $ 654,851  $ 650,277  2  3  $ 663,828  $ 644,114  3 
Loans:
Banking & Wealth Management 34,196  33,832  33,038  32,916  33,351  1  3  33,693  33,350  1 
Home Lending (b)
 237,817  238,808  240,429  241,701  241,772  —  (2) 239,008  242,897  (2)
Card Services 250,117  243,501  239,153  239,335  234,412  3  7  244,298  229,153  7 
Auto 72,176  71,456  70,208  70,693  70,895  1  2  71,287  71,583  — 
Total loans 594,306  587,597  582,828  584,645  580,430  1  2  588,286  576,983  2 
Deposits 1,097,118  1,095,646  1,075,951  1,056,819  1,058,025  —  4  1,089,649  1,057,371  3 
Equity 61,500  61,500  61,500  56,000  56,000  —  10  61,500  56,000  10 
Employees 144,888  144,079  143,869  142,586  (c) 142,600  (c) 1  2  144,888  142,600  (c) 2 
(a)At September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, Home Lending loans held-for-sale and loans at fair value were $12.4 billion, $13.1 billion, $11.3 billion, $11.0 billion and $9.4 billion, respectively.
(b)Average Home Lending loans held-for sale and loans at fair value were $15.2 billion, $13.0 billion, $11.8 billion, $11.2 billion and $10.1 billion for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $13.3 billion and $8.9 billion for the nine months ended September 30, 2026 and 2025, respectively.
(c)Refer to footnote (e) on page 12 for further information on the centralization of Risk functions.


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JPMORGAN CHASE & CO.
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CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
CREDIT DATA AND QUALITY STATISTICS
Nonaccrual loans (a)
 $ 3,525  $ 3,506  $ 3,493  $ 3,484  $ 3,596  1  % (2) % $ 3,525  $ 3,596  (2) %
Net charge-offs/(recoveries)
Banking & Wealth Management 85  87  85  72  85  (2) —  257  284  (10)
Home Lending (17) (18) (15) (12) (63) 6  73  (50) (110) 55 
Card Services 1,833  2,025  2,044  1,897  1,860  (9) (1) 5,902  5,781  2 
Auto 75  62  81  87  81  21  (7) 218  248  (12)
Total net charge-offs/(recoveries) $ 1,976  $ 2,156  $ 2,195  $ 2,044  $ 1,963  (8) 1  $ 6,327  $ 6,203  2 
Net charge-off/(recovery) rate
Banking & Wealth Management
 0.99  % 1.03  % 1.04  % 0.87  % 1.01  % 1.02  % 1.14  %
Home Lending (0.03) (0.03) (0.03) (0.02) (0.11) (0.03) (0.06)
Card Services 2.91  3.34  3.47  3.14  3.15  3.23  3.37 
Auto 0.41  0.35  0.47  0.49  0.46  0.41  0.46 
Total net charge-off/(recovery) rate 1.35  1.51  1.56  1.41  1.37  1.47  1.46 
30+ day delinquency rate
Home Lending (b)
 0.79  % 0.83  % 0.88  % 0.86  % 0.89  % 0.79  % 0.89  %
Card Services 1.97  1.91  2.17  2.16  2.14  1.97  2.14 
Auto 0.96  1.03  1.09  1.33  (d) 1.17  0.96  1.17 
90+ day delinquency rate - Card Services 0.96  1.00  1.15  1.10  1.07  0.96  1.07 
Allowance for credit losses:
Allowance for loan losses
Banking & Wealth Management $ 715  $ 765  $ 765  $ 765  $ 765  (7) (7) $ 715  $ 765  (7)
Home Lending 507  507  507  647  647  —  (22) 507  647  (22)
Card Services 15,563  15,563  15,563  15,558  15,558  —  —  15,563  15,558  — 
Auto 587  587  587  587  587  —  —  587  587  — 
Total allowance for loan losses 17,372  17,422  17,422  17,557  17,557  —  (1) 17,372  17,557  (1)
Allowance for lending-related commitments (c) 2,380  2,280  2,280  2,290  90  4  NM 2,380  90  NM
Total allowance for credit losses
 $ 19,752  $ 19,702  $ 19,702  $ 19,847  $ 17,647  —  12  $ 19,752  $ 17,647  12 
(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 September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $60 million, $61 million, $68 million, $70 million and $65 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 September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, excluded mortgage loans 30 or more days past due and insured by U.S. government agencies of $81 million, $85 million, $92 million, $102 million and $95 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.



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JPMORGAN CHASE & CO.
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CONSUMER & COMMUNITY BANKING
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio data and where otherwise noted)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
BUSINESS METRICS
Number of:
Branches 5,164  5,135  5,095  5,083  5,018  1  % 3  % 5,164  5,018  3  %
    Active digital customers (in thousands) 77,960  76,706  76,246  74,646  74,041  2  5  77,960  74,041  5 
    Active mobile customers (in thousands) 64,919  63,746  62,960  61,736  60,924  2  7  64,919  60,924  7 
Debit and credit card sales volume (in billions) $ 539.5  $ 535.8  $ 487.6  $ 512.5  $ 492.3  1  10  $ 1,562.9  $ 1,428.2  9 
Total payments transaction volume (in trillions) 1.9  1.9  1.8  1.8  1.8  —  6  5.6  5.2  8 
Banking & Wealth Management
Average deposits $ 1,078,940  $ 1,078,373  $ 1,059,463  $ 1,039,621  $ 1,040,402  —  4  $ 1,072,330  $ 1,041,180  3 
Deposit margin 2.78  % 2.70  % 2.63 % 2.72  % 2.79  % 2.70  % 2.75  %
Business Banking average loans $ 17,836  $ 18,324  $ 18,578  $ 18,747  $ 18,922  (3) (6) $ 18,243  $ 19,202  (5)
Business Banking origination volume 700  748  733  691  824  (6) (15) 2,181  2,532  (14)
Client investment assets (a) 1,419,820  1,394,864  1,272,180  1,269,883  1,232,390  2  15  1,419,820  1,232,390  15 
Number of client advisors 6,433  6,329  6,243  6,049  6,025  2  7  6,433  6,025  7 
Home Lending (in billions)
Mortgage origination volume by channel
Retail $ 8.7  $ 10.6  $ 8.7  $ 10.4  $ 8.4  (18) 4  $ 28.0  $ 22.6  24 
Correspondent 7.3  6.6  5.0  5.6  5.5  11  33  18.9  14.2  33 
Total mortgage origination volume (b) $ 16.0  $ 17.2  $ 13.7  $ 16.0  $ 13.9  (7) 15  $ 46.9  $ 36.8  27 
Third-party mortgage loans serviced (period-end) 651.9  652.8  656.4  661.9  663.6  —  (2) 651.9  663.6  (2)
MSR carrying value (period-end) 9.7  9.1  9.1  9.1  9.1  7  7  9.7  9.1  7 
Card Services
Sales volume, excluding commercial card (in billions) $ 376.0  $ 373.1  $ 337.6  $ 359.7  $ 344.4  1  9  $ 1,086.7  $ 995.0  9 
Net revenue rate 10.76  % 10.37  % 10.78  % 9.86  % 10.03  % 10.64  % 10.15  %
Net yield on average loans 10.67  10.39  10.85  10.40  10.28  10.63  10.21 
Auto
Loan and lease origination volume (in billions) $ 10.8  $ 12.3  $ 10.4  $ 10.8  $ 12.0  (12) (10) $ 33.5  $ 34.0  (1)
Average auto operating lease assets 21,484  21,123  20,398  18,893  16,986  2  26  21,006  15,294  37 
(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 $20.4 billion, $21.2 billion, $16.6 billion, $19.0 billion and $16.9 billion for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $58.2 billion and $44.4 billion for the nine months ended September 30, 2026 and 2025, respectively.

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JPMORGAN CHASE & CO.
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COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS
(in millions, except ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
INCOME STATEMENT
REVENUE
Investment banking fees $ 3,005  $ 3,277  $ 2,883  $ 2,347  $ 2,627  (8) % 14  % $ 9,165  $ 7,388  24  %
Principal transactions 6,498  8,768  7,897  5,419  7,090  (26) (8) 23,163  21,807  6 
Lending- and deposit-related fees 1,486  1,487  1,394  1,336  1,315  —  13  4,367  3,841  14 
Commissions and other fees 1,727  1,748  1,714  1,562  1,493  (1) 16  5,189  4,423  17 
Card income 640  649  585  627  613  (1) 4  1,874  1,809  4 
All other income 628  1,025  917  1,063  660  (39) (5) 2,570  2,144  20 
Noninterest revenue 13,984  16,954  15,390  12,354  13,798  (18) 1  46,328  41,412  12 
Net interest income 8,750  7,899  7,989  7,021  6,080  11  44  24,638  17,667  39 
TOTAL NET REVENUE (a) 22,734  24,853  23,379  19,375  19,878  (9) 14  70,966  59,079  20 
Provision for credit losses 663  356  482  405  809  86  (18) 1,501  2,210  (32)
NONINTEREST EXPENSE
Compensation expense 5,066  5,544  5,740  3,940  (d) 4,662  (d) (9) 9  16,350  14,604  (d) 12 
Noncompensation expense 5,705  5,846  5,396  5,071  (d) 5,060  (d) (2) 13  16,947  14,601  (d) 16 
TOTAL NONINTEREST EXPENSE 10,771  11,390  11,136  9,011  9,722  (5) 11  33,297  29,205  14 
Income before income tax expense 11,300  13,107  11,761  9,959  9,347  (14) 21  36,168  27,664  31 
Income tax expense 3,053  3,429  2,717  2,691  2,446  (11) 25  9,199  7,171  28 
NET INCOME $ 8,247  $ 9,678  $ 9,044  $ 7,268  $ 6,901  (15) 20  $ 26,969  $ 20,493  32 
FINANCIAL RATIOS
ROE 18  % 22  % 21  % 19  % 18  % 20  % 18  %
Overhead ratio 47  46  48  47  49  47  49 
Compensation expense as percentage of total net revenue 22  22  25  20  (d) 23  (d) 23  25  (d)
REVENUE BY BUSINESS
Investment Banking $ 3,098  $ 3,902  $ 3,136  $ 2,552  $ 2,694  (21) 15  $ 10,136  $ 7,646  33 
Payments 5,620  5,296  5,123  5,114  4,917  6  14  16,039  14,217  13 
Lending 2,240  1,964  2,166  1,985  1,872  14  20  6,370  5,616  13 
Other —  —  —  —  —  —  —  —  6  NM
Total Banking & Payments 10,958  11,162  10,425  9,651  9,483  (2) 16  32,545  27,485  18 
Fixed Income Markets 5,366  6,053  7,078  5,380  5,613  (11) (4) 18,497  17,152  8 
Equity Markets 4,954  6,025  4,481  2,859  3,331  (18) 49  15,460  10,391  49 
Securities Services 1,626  1,657  1,499  1,489  1,423  (2) 14  4,782  4,110  16 
Credit Adjustments & Other (b) (170) (44) (104) (4) 28  (286) NM (318) (59) (439)
Total Markets & Securities Services 11,776  13,691  12,954  9,724  10,395  (14) 13  38,421  31,594  22 
TOTAL NET REVENUE $ 22,734  $ 24,853  $ 23,379  $ 19,375  $ 19,878  (9) 14  $ 70,966  $ 59,079  20 
Banking & Payments revenue by client coverage segment (c)
Global Corporate Banking & Global Investment Banking $ 7,549  $ 7,797  $ 7,265  $ 6,493  $ 6,544  (3) % 15  % $ 22,611  $ 18,792  20  %
Commercial Banking 3,409  3,365  3,160  3,158  2,939  1  16  9,934  8,693  14 
Commercial & Specialized Industries 2,458  2,472  2,280  2,245  2,038  (1) 21  7,210  6,061  19 
Commercial Real Estate Banking 951  893  880  913  901  6  6  2,724  2,632  3 
Total Banking & Payments revenue $ 10,958  $ 11,162  $ 10,425  $ 9,651  $ 9,483  (2) 16  $ 32,545  $ 27,485  18 
(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 $684 million, $621 million, $646 million, $920 million and $644 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $2.0 billion for both the nine months ended September 30, 2026 and 2025.
(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.

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JPMORGAN CHASE & CO.
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COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and employee data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
SELECTED BALANCE SHEET DATA (period-end)
Total assets $ 2,760,833  $ 2,709,357  $ 2,626,846  $ 2,142,534  $ 2,328,000  2  % 19  % $ 2,760,833  $ 2,328,000  19  %
Loans:
Loans retained 599,834  586,807  576,917  558,528  538,016  2  11  599,834  538,016  11 
Loans held-for-sale and loans at fair value (a) 75,037  65,594  67,022  73,508  56,057  14  34  75,037  56,057  34 
Total loans
 674,871  652,401  643,939  632,036  594,073  3  14  674,871  594,073  14 
Equity 175,000  175,000  (c) 166,500  149,500  149,500  —  17  175,000  (c) 149,500  17 
Banking & Payments loans by client coverage segment
(period-end) (b)
Global Corporate Banking & Global Investment Banking $ 168,213  $ 160,842  $ 158,989  $ 146,079  $ 132,560  5  27  $ 168,213  $ 132,560  27 
Commercial Banking 229,404  226,320  224,253  222,139  222,464  1  3  229,404  222,464  3 
Commercial & Specialized Industries 80,664  78,897  77,425  75,865  76,010  2  6  80,664  76,010  6 
Commercial Real Estate Banking 148,740  147,423  146,828  146,274  146,454  1  2  148,740  146,454  2 
Total Banking & Payments loans 397,617  387,162  383,242  368,218  355,024  3  12  397,617  355,024  12 
SELECTED BALANCE SHEET DATA (average)
Total assets $ 2,658,362  $ 2,665,978  $ 2,497,393  $ 2,260,671  $ 2,266,445  —  17  $ 2,607,834  $ 2,173,201  20 
Trading assets - debt and equity instruments 935,432  952,230  874,262  815,438  796,017  (2) 18  920,865  746,796  23 
Trading assets - derivative receivables 71,283  73,390  67,591  56,598  61,132  (3) 17  70,768  58,986  20 
Loans:
Loans retained 589,160  573,945  558,751  546,219  528,135  3  12  574,063  507,502  13 
Loans held-for-sale and loans at fair value (a) 71,120  72,405  73,588  66,415  55,545  (2) 28  72,362  50,784  42 
Total loans 660,280  646,350  632,339  612,634  583,680  2  13  646,425  558,286  16 
Deposits 1,309,689  1,282,143  1,234,295  1,226,155  1,194,410  2  10  1,275,652  1,157,201  10 
Equity 175,000  172,198  (c) 166,500  149,500  149,500  2  17  171,264  (c) 149,500  15 
Banking & Payments loans by client coverage segment (average) (b)
Global Corporate Banking & Global Investment Banking $ 163,655  $ 165,538  $ 151,120  $ 138,491  $ 132,101  (1) 24  $ 160,150  $ 126,386  27 
Commercial Banking 228,263  225,535  222,897  222,216  221,534  1  3  225,585  220,005  3 
Commercial & Specialized Industries 79,801  78,556  76,610  75,620  75,270  2  6  78,334  74,434  5 
Commercial Real Estate Banking 148,462  146,979  146,287  146,596  146,264  1  2  147,251  145,571  1 
Total Banking & Payments loans 391,918  391,073  374,017  360,707  353,635  —  11  385,735  346,391  11 
Employees 92,746  91,876  91,493  91,355  (d) 90,895  (d) 1  2  92,746  90,895  (d) 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)During the three months ended June 30, 2026, the capital allocated to CIB from Corporate was increased by $8.5 billion, compared with the capital allocated in the first quarter of 2026, in connection with growth in the business.
(d)Refer to footnote (d) on page 16 for further information on the centralization of Risk functions.



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JPMORGAN CHASE & CO.
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COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and employee data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries) $ 211  $ 207  $ 120  $ 440  $ 567  2  % (63) % $ 538  $ 1,069  (50) %
Nonperforming assets:
Nonaccrual loans:
Nonaccrual loans retained (a) 3,817  3,520  3,855  3,641  4,033  8  (5) 3,817  4,033  (5)
Nonaccrual loans held-for-sale and loans at fair value (b) 1,149  1,290  1,192  1,518  1,338  (11) (14) 1,149  1,338  (14)
Total nonaccrual loans 4,966  4,810  5,047  5,159  5,371  3  (8) 4,966  5,371  (8)
Derivative receivables 149  171  174  204  224  (13) (33) 149  224  (33)
Assets acquired in loan satisfactions 381  213  176  192  197  79  93  381  197  93 
Total nonperforming assets 5,496  5,194  5,397  5,555  5,792  6  (5) 5,496  5,792  (5)
Allowance for credit losses:
Allowance for loan losses 8,300  8,159  7,947  7,632  7,609  2  9  8,300  7,609  9 
Allowance for lending-related commitments 3,185  2,836  2,777  2,738  2,798  12  14  3,185  2,798  14 
Total allowance for credit losses 11,485  10,995  10,724  10,370  10,407  4  10  11,485  10,407  10 
Net charge-off/(recovery) rate (c) 0.14  % 0.14  % 0.09  % 0.32  % 0.43  % 0.13  % 0.28  %
Allowance for loan losses to period-end loans retained 1.38  1.39  1.38  1.37  1.41  1.38  1.41 
Allowance for loan losses to nonaccrual loans retained (a) 217  232  206  210  189  217  189 
Nonaccrual loans to total period-end loans 0.74  0.74  0.78  0.82  0.90  0.74  0.90 
(a)Allowance for loan losses of $672 million, $672 million, $740 million, $597 million and $724 million were held against these nonaccrual loans at September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 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 September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $207 million, $171 million, $183 million, $128 million and $93 million, respectively.
(c)Loans held-for-sale and loans at fair value were excluded when calculating the net charge-off/(recovery) rate.
























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JPMORGAN CHASE & CO.
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COMMERCIAL & INVESTMENT BANK
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except where otherwise noted)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
BUSINESS METRICS
Advisory $ 1,222  $ 1,012  $ 1,266  $ 1,033  $ 926  21  % 32  % $ 3,500  $ 2,464  42  %
Equity underwriting 564  829  472  416  527  (32) 7  1,865  1,316  42 
Debt underwriting 1,219  1,436  1,145  898  1,174  (15) 4  3,800  3,608  5 
Total investment banking fees $ 3,005  $ 3,277  $ 2,883  $ 2,347  $ 2,627  (8) 14  $ 9,165  $ 7,388  24 
Client deposits and other third-party liabilities (average) (a) 1,219,019  1,205,156  1,167,128  1,153,559  1,111,143  1  10  1,197,291  1,078,717  11 
Assets under custody (“AUC”) (period-end) (in billions) $ 44,107  $ 44,869  (e) $ 40,905  $ 41,172  $ 40,128  (2) 10  $ 44,107  $ 40,128  10 
95% Confidence Level - Total CIB VaR (average)
CIB trading VaR by risk type: (b)
Fixed income $ 37  $ 36  $ 39  $ 35  $ 33  3  12 
Foreign exchange 10  13  13  9  9  (23) 11 
Equities 20  20  11  13  14  —  43 
Commodities and other 12  14  14  23  19  (14) (37)
Diversification benefit to CIB trading VaR (c) (40) (44) (47) (49) (50) 9  20 
CIB trading VaR (b) 39  39  30  31  25  —  56 
Credit Portfolio VaR (d) 14  18  21  20  21  (22) (33)
Diversification benefit to CIB VaR (c) (15) (17) (16) (17) (15) 12  — 
CIB VaR $ 38  $ 40  $ 35  $ 34  $ 31  (5) 23 
(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.
(e)Revised to conform with the presentation in the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026.
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JPMORGAN CHASE & CO.
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ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS
(in millions, except ratio and employee data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
INCOME STATEMENT
REVENUE
Asset management fees $ 4,413  $ 4,227  $ 4,125  $ 4,372  $ 3,885  4  % 14  % $ 12,765  $ 11,122  15  %
Commissions and other fees 432  445  369  301  296  (3) 46  1,246  883  41 
All other income 157  370  154  165  156  (58) 1  681  398  71 
Noninterest revenue 5,002  5,042  4,648  4,838  4,337  (1) 15  14,692  12,403  18 
Net interest income 1,907  1,809  1,726  1,678  1,729  5  10  5,442  5,154  6 
TOTAL NET REVENUE 6,909  6,851  6,374  6,516  6,066  1  14  20,134  17,557  15 
Provision for credit losses 84  13  (24) 2  59  NM 42  73  95  (23)
NONINTEREST EXPENSE
Compensation expense 2,406  2,322  2,339  2,256  (a) 2,125  (a) 4  13  7,067  6,275  (a) 13 
Noncompensation expense 1,952  1,885  1,828  1,812  (a) 1,693  (a) 4  15  5,665  4,989  (a) 14 
TOTAL NONINTEREST EXPENSE 4,358  4,207  4,167  4,068  3,818  4  14  12,732  11,264  13 
Income before income tax expense 2,467  2,631  2,231  2,446  2,189  (6) 13  7,329  6,198  18 
Income tax expense 624  674  456  638  531  (7) 18  1,754  1,484  18 
NET INCOME $ 1,843  $ 1,957  $ 1,775  $ 1,808  $ 1,658  (6) 11  $ 5,575  $ 4,714  18 
REVENUE BY BUSINESS
Asset Management $ 3,248  $ 3,320  $ 3,072  $ 3,408  $ 2,916  (2) 11  $ 9,640  $ 8,292  16 
Global Private Bank 3,661  3,531  3,302  3,108  3,150  4  16  10,494  9,265  13 
TOTAL NET REVENUE $ 6,909  $ 6,851  $ 6,374  $ 6,516  $ 6,066  1  14  $ 20,134  $ 17,557  15 
FINANCIAL RATIOS
ROE 45  % 48  % 44  % 44  % 40  % 46  % 39  %
Overhead ratio 63  61  65  62  63  63  64 
Pretax margin ratio:
Asset Management 35  36  34  38  35  35  33 
Global Private Bank 36  40  36  37  37  38  37 
Asset & Wealth Management 36  38  35  38  36  36  35 
Employees 30,380  29,773  29,357  29,181  (a) 29,135  (a) 2  4  30,380  29,135  (a) 4 
Number of Global Private Bank client advisors 4,460  4,119  4,110  4,101  4,050  8  10  4,460  4,050  10 
(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.




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JPMORGAN CHASE & CO.
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ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in millions, except ratio and business metrics data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
SELECTED BALANCE SHEET DATA (period-end)
Total assets $ 338,451  $ 323,243  $ 299,179  $ 288,065  $ 282,322  5  % 20  % $ 338,451  $ 282,322  20  %
Loans 313,240  293,386  274,902  266,385  257,988  7  21  313,240  257,988  21 
Deposits 261,008  253,218  266,745  257,316  239,999  3  9  261,008  239,999  9 
Equity 16,000  16,000  16,000  16,000  16,000  —  —  16,000  16,000  — 
SELECTED BALANCE SHEET DATA (average)
Total assets $ 326,983  $ 308,845  $ 291,058  $ 284,100  $ 272,954  6  20  $ 309,094  $ 262,556  18 
Loans 301,646  284,281  267,986  260,792  250,730  6  20  284,761  241,812  18 
Deposits 253,528  260,092  253,706  247,065  241,454  (3) 5  255,775  244,635  5 
Equity 16,000  16,000  16,000  16,000  16,000  —  —  16,000  16,000  — 
CREDIT DATA AND QUALITY STATISTICS
Net charge-offs/(recoveries) $ 16  $ 2  $ 1  $ 30  $ 62  NM (74) $ 19  $ 62  (69)
Nonaccrual loans 867  (b) 1,041  1,035  1,199  1,129  (17) (23) 867  (b) 1,129  (23)
Allowance for credit losses:
Allowance for loan losses 588  530  520  536  555  11  6  588  555  6 
Allowance for lending-related commitments 44  35  33  43  52  26  (15) 44  52  (15)
Total allowance for credit losses 632  565  553  579  607  12  4  632  607  4 
Net charge-off/(recovery) rate 0.02  % —  % —  % 0.05  % 0.10  % 0.01  % 0.03  %
Allowance for loan losses to period-end loans 0.19  (b) 0.18  0.19  0.20  0.22  0.19  (b) 0.22 
Allowance for loan losses to nonaccrual loans 74  (b) 51  50  45  49  74  (b) 49 
Nonaccrual loans to period-end loans 0.28  0.35  0.38  0.45  0.44  0.28  0.44 
BUSINESS METRICS
Firmwide Wealth Management
Client assets (in billions) (a) $ 5,011  $ 4,881  $ 4,516  $ 4,521  $ 4,373  3  15  $ 5,011  $ 4,373  15 
Number of client advisors 10,893  10,448  10,353  10,150  10,075  4  8  10,893  10,075  8 
Stock Plan Administration
Number of stock plan participants (in thousands) 2,293  1,982  1,883  1,794  1,796  16  28  2,293  1,796  28 
Client assets (in billions) $ 415  $ 406  $ 383  $ 372  $ 357  2  16  $ 415  $ 357  16 
(a)Consists of Global Private Bank in AWM and client investment assets in J.P. Morgan Wealth Management in CCB.
(b)Included $67 million of nonaccrual loans held-for-sale at September 30, 2026, which are excluded from the allowance coverage ratio calculations.


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JPMORGAN CHASE & CO.
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ASSET & WEALTH MANAGEMENT
FINANCIAL HIGHLIGHTS, CONTINUED
(in billions)
Sep 30, 2026
Change NINE MONTHS ENDED SEPTEMBER 30,
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30, 2026 Change
CLIENT ASSETS 2026 2026 2026 2025 2025 2026 2025 2026 2025 2025
Assets by asset class
Liquidity $ 1,367  $ 1,326  $ 1,297  $ 1,279  $ 1,174  3  % 16  % $ 1,367  $ 1,174  16  %
Fixed income 1,062  1,061  1,014  998  971  —  9  1,062  971  9 
Equity 1,576  1,574  1,360  1,400  1,371  —  15  1,576  1,371  15 
Multi-asset 955  939  880  884  855  2  12  955  855  12 
Alternatives 250  240  238  230  228  4  10  250  228  10 
TOTAL ASSETS UNDER MANAGEMENT 5,210  5,140  4,789  4,791  4,599  1  13  5,210  4,599  13 
Custody/brokerage/administration/deposits 2,685  2,523  2,314  2,327  2,239  6  20  2,685  2,239  20 
TOTAL CLIENT ASSETS (a) $ 7,895  $ 7,663  $ 7,103  $ 7,118  $ 6,838  3  15  $ 7,895  $ 6,838  15 
Assets by client segment
Private Banking $ 1,601  $ 1,559  $ 1,440  $ 1,414  $ 1,364  3  17  $ 1,601  $ 1,364  17 
Global Institutional 2,111  2,079  1,964  1,953  1,837  2  15  2,111  1,837  15 
Global Funds 1,498  1,502  1,385  1,424  1,398  —  7  1,498  1,398  7 
TOTAL ASSETS UNDER MANAGEMENT $ 5,210  $ 5,140  $ 4,789  $ 4,791  $ 4,599  1  13  $ 5,210  $ 4,599  13 
Private Banking $ 3,938  $ 3,824  $ 3,549  $ 3,549  $ 3,423  3  15  $ 3,938  $ 3,423  15 
Global Institutional 2,445  2,312  2,145  2,121  1,994  6  23  2,445  1,994  23 
Global Funds 1,512  1,527  1,409  1,448  1,421  (1) 6  1,512  1,421  6 
TOTAL CLIENT ASSETS (a) $ 7,895  $ 7,663  $ 7,103  $ 7,118  $ 6,838  3  15  $ 7,895  $ 6,838  15 
Assets under management rollforward
Beginning balance $ 5,140  $ 4,789  $ 4,791  $ 4,599  $ 4,343  $ 4,791  $ 4,045 
Net asset flows:
Liquidity 42  22  13  105  37  77  78 
Fixed income 27  35  20  25  31  82  69 
Equity 7  12  18  11  31  37  84 
Multi-asset 9  6  10  11  4  25  5 
Alternatives 8  (3) 6  5  6  11  (1)
Market/performance/other impacts (23) 279  (69) 35  147  187  319 
Ending balance $ 5,210  $ 5,140  $ 4,789  $ 4,791  $ 4,599  $ 5,210  $ 4,599 
Client assets rollforward
Beginning balance $ 7,663  $ 7,103  $ 7,118  $ 6,838  $ 6,421  $ 7,118  $ 5,932 
Net asset flows 263  148  111  206  147  522  347 
Market/performance/other impacts (31) 412  (126) 74  270  255  559 
Ending balance $ 7,895  $ 7,663  $ 7,103  $ 7,118  $ 6,838  $ 7,895  $ 6,838 
(a)Includes CCB client investment assets invested in managed accounts and J.P. Morgan mutual funds where AWM is the investment manager.






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JPMORGAN CHASE & CO.
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CORPORATE
FINANCIAL HIGHLIGHTS
(in millions, except employee data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
INCOME STATEMENT
REVENUE
Principal transactions $ (94) $ 149  $ (31) $ (144) $ (54) NM (74) % $ 24  $ (195) NM
Investment securities gains/(losses)
 (658) (395) 60  (72) 105  (67) % NM (993) 14  NM
All other income 176  5,470  (e) 160  128  246  (97) (28) 5,806  (e) 1,180  392  %
Noninterest revenue (576) 5,224  189  (88) 297  NM NM 4,837  999  384 
Net interest income 669  822  1,026  1,568  1,406  (19) (52) 2,517  4,546  (45)
TOTAL NET REVENUE (a) 93  6,046  1,215  1,480  1,703  (98) (95) 7,354  5,545  33 
Provision for credit losses (30) (10) (1) 4  (3) (200) NM (41) 3  NM
NONINTEREST EXPENSE 586  611  568  648  (f)(g) 445  (f) (4) 32  1,765  1,177  (f) 50 
Income/(loss) before income tax expense (463) 5,445  648  828  1,261  NM NM 5,630  4,365  29 
Income tax expense/(benefit)
 (8) 1,236  (51) 521  436  NM NM 1,177  152  (i) NM
NET INCOME/(LOSS) $ (455) $ 4,209  $ 699  $ 307  $ 825  NM NM $ 4,453  $ 4,213  6 
MEMO:
TOTAL NET REVENUE
Treasury and Chief Investment Office (“CIO”)
287  793  1,337  1,601  1,687  (64) (83) 2,417  4,900  (51)
Other Corporate (194) 5,253  (e) (122) (121) 16  NM NM 4,937  (e) 645  NM
TOTAL NET REVENUE $ 93  $ 6,046  $ 1,215  $ 1,480  $ 1,703  (98) (95) $ 7,354  $ 5,545  33 
NET INCOME/(LOSS)
Treasury and CIO 161  529  842  1,120  1,166  (70) (86) 1,532  3,445  (56)
Other Corporate (616) 3,680  (e) (143) (813) (341) NM (81) 2,921  (e) 768  280 
TOTAL NET INCOME/(LOSS) $ (455) $ 4,209  $ 699  $ 307  $ 825  NM NM $ 4,453  $ 4,213  6 
SELECTED BALANCE SHEET DATA (period-end)
Total assets $ 1,318,250  $ 1,309,857  $ 1,318,399  $ 1,329,632  $ 1,297,608  1  2  $ 1,318,250  $ 1,297,608  2 
Loans 2,810  3,126  3,093  2,941  2,707  (10) 4  2,810  2,707  4 
Deposits (b) 79,231  59,437  41,173  35,874  34,145  33  132  79,231  34,145  132 
Employees 54,950  54,832  55,360  55,390  (f) 55,523  (f) —  (1) 54,950  55,523  (f) (1)
SUPPLEMENTAL INFORMATION
TREASURY and CIO
Investment securities gains/(losses)
 $ (658) $ (395) $ 60  $ (72) $ 105  (67) NM $ (993) $ 14  NM
Available-for-sale securities (average) 552,571  533,510  529,500  502,641  495,777  (h) 4  11  538,612  450,365  (h) 20 
Held-to-maturity securities (average) (c) 273,826  270,893  269,482  283,009  269,717  (h) 1  2  271,416  267,366  (h) 2 
Investment securities portfolio (average) $ 826,397  $ 804,403  $ 798,982  $ 785,650  $ 765,494  3  8  $ 810,028  $ 717,731  13 
Available-for-sale securities (period-end) 543,234  532,368  545,706  503,896  487,277  (h) 2  11  543,234  487,277  (h) 11 
Held-to-maturity securities (period-end) (c) 274,564  268,474  272,142  270,134  293,446  (h) 2  (6) 274,564  293,446  (h) (6)
Investment securities portfolio, net of allowance for credit losses
(period-end) (d)
 $ 817,798  $ 800,842  $ 817,848  $ 774,030  $ 780,723  2  5  $ 817,798  $ 780,723  5 
(a)Included tax-equivalent adjustments, predominantly driven by tax-exempt income from municipal bonds, of $42 million, $44 million, $44 million, $41 million and $39 million for the three months ended September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, respectively, and $130 million and $113 million for the nine months ended September 30, 2026 and 2025, respectively.
(b)Predominantly relates to the Firm's international consumer initiatives.
(c)At September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, the estimated fair value of the HTM securities portfolio was $248.7 billion, $250.3 billion, $254.5 billion, $253.3 billion and $274.9 billion, respectively.
(d)At September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, the allowance for credit losses on investment securities was $42 million, $59 million, $73 million, $73 million and $72 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 (f) 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.
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CREDIT-RELATED INFORMATION
(in millions)
Sep 30, 2026
Change
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30,
2026 2026 2026 2025 2025 2026 2025
CREDIT EXPOSURE
Consumer, excluding credit card loans (a)
Loans retained $ 367,206  $ 367,128  $ 367,274  $ 368,741  $ 369,859  —  % (1) %
Loans held-for-sale and loans at fair value 25,896  24,615  24,386  33,517  23,225  5  12 
Total consumer, excluding credit card loans 393,102  391,743  391,660  402,258  393,084  —  — 
Credit card loans
Loans retained 252,697  249,876  239,123  247,797  235,475  1  7 
Total credit card loans 252,697  249,876  239,123  247,797  235,475  1  7 
Total consumer loans 645,799  641,619  630,783  650,055  628,559  1  3 
Wholesale loans (b)
Loans retained 877,256  846,804  818,839  792,367  764,451  4  15 
Loans held-for-sale and loans at fair value 61,586  54,039  53,898  51,007  42,236  14  46 
Total wholesale loans 938,842  900,843  872,737  843,374  806,687  4  16 
Total loans 1,584,641  1,542,462  1,503,520  1,493,429  1,435,246  3  10 
Derivative receivables 78,811  67,767  71,584  57,777  59,849  16  32 
Receivables from customers (c) 76,885  82,203  64,844  47,336  68,493  (6) 12 
Total credit-related assets 1,740,337  1,692,432  1,639,948  1,598,542  1,563,588  3  11 
Lending-related commitments
Consumer, excluding credit card 47,668  49,116  46,236  43,587  48,015  (3) (1)
Credit card (d)(e) 1,251,607  1,224,431  1,204,016  1,177,766  1,069,963  2  17 
Wholesale 634,825  622,766  (h) 604,922  595,954  596,028  2  7 
Total lending-related commitments 1,934,100  1,896,313  1,855,174  1,817,307  1,714,006  2  13 
Total credit exposure $ 3,674,437  $ 3,588,745  $ 3,495,122  $ 3,415,849  $ 3,277,594  2  12 
Memo: Total by category
Consumer exposure (f) $ 1,945,074  $ 1,915,166  $ 1,881,035  $ 1,871,408  $ 1,746,537  2  11 
Wholesale exposure (g) 1,729,363  1,673,579  1,614,087  1,544,441  1,531,057  3  13 
Total credit exposure $ 3,674,437  $ 3,588,745  $ 3,495,122  $ 3,415,849  $ 3,277,594  2  12 
    
(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)Revised to conform with the presentation in the Firm’s Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2026.





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CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)
Sep 30, 2026
Change
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30,
2026 2026 2026 2025 2025 2026 2025
NONPERFORMING ASSETS (a)
Consumer nonaccrual loans
   Loans retained $ 3,851  $ 3,843  $ 3,810  $ 3,875  $ 3,954  —  % (3) %
   Loans held-for-sale and loans at fair value 699  605  589  798  646  16  8 
Total consumer nonaccrual loans 4,550  4,448  4,399  4,673  4,600  2  (1)
Wholesale nonaccrual loans
Loans retained 4,202  4,191  4,524  4,398  4,740  —  (11)
Loans held-for-sale and loans at fair value 614  725  660  786  766  (15) (20)
Total wholesale nonaccrual loans 4,816  4,916  5,184  5,184  5,506  (2) (13)
Total nonaccrual loans 9,366  9,364  9,583  9,857  10,106  —  (7)
Derivative receivables 149  171  174  204  224  (13) (33)
Assets acquired in loan satisfactions 481  314  292  298  305  53  58 
Total nonperforming assets 9,996  9,849  10,049  10,359  10,635  1  (6)
Wholesale lending-related commitments (b) 717  799  916  925  1,025  (10) (30)
Total nonperforming exposure $ 10,713  $ 10,648  $ 10,965  $ 11,284  $ 11,660  1  (8)
NONACCRUAL LOAN-RELATED RATIOS
Total nonaccrual loans to total loans 0.59  % 0.61  % 0.64  % 0.66  % 0.70  %
Total consumer, excluding credit card nonaccrual loans to
total consumer, excluding credit card loans 1.16  1.14  1.12  1.16  1.17 
Total wholesale nonaccrual loans to total
wholesale loans 0.51  0.55  0.59  0.61  0.68 
(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 September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, mortgage loans 90 or more days past due and insured by U.S. government agencies were $267 million, $232 million, $251 million, $198 million and $158 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.


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CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
SUMMARY OF CHANGES IN THE ALLOWANCES
ALLOWANCE FOR LOAN LOSSES
Beginning balance $ 26,152  $ 25,928  $ 25,765  $ 25,735  $ 24,953  1  % 5  % $ 25,765  $ 24,345  6  %
Net charge-offs:
Gross charge-offs 2,843  2,995  2,911  3,099  3,181  (5) (11) 8,749  8,941  (2)
Gross recoveries collected (639) (629) (595) (585) (588) (2) (9) (1,863) (1,606) (16)
Net charge-offs 2,204  2,366  2,316  2,514  2,593  (7) (15) 6,886  7,335  (6)
Provision for loan losses 2,327  2,590  2,481  2,544  3,376  (10) (31) 7,398  8,720  (15)
Other (3) —  (2) —  (1) NM (200) (5) 5  NM
Ending balance $ 26,272  $ 26,152  $ 25,928  $ 25,765  $ 25,735  —  2  $ 26,272  $ 25,735  2 
ALLOWANCE FOR LENDING-RELATED COMMITMENTS
Beginning balance $ 5,151  $ 5,091  $ 5,071  $ 2,964  $ 2,932  1  76  $ 5,071  $ 2,101  141 
Provision for lending-related commitments 459  63  23  2,107  (b) 31  NM NM 545  862  (37)
Other —  (3) (3) —  1  NM NM (6) 1  NM
Ending balance $ 5,610  $ 5,151  $ 5,091  $ 5,071  $ 2,964  9  89  $ 5,610  $ 2,964  89 
ALLOWANCE FOR INVESTMENT SECURITIES $ 47  $ 63  $ 78  $ 106  $ 105  (25) (55) $ 47  $ 105  (55)
Total allowance for credit losses (a) $ 31,929  $ 31,366  $ 31,097  $ 30,942  $ 28,804  2  11  $ 31,929  $ 28,804  11 
NET CHARGE-OFF/(RECOVERY) RATES
Consumer retained, excluding credit card loans 0.15  % 0.15  % 0.17  % 0.19  % 0.12  % 0.16  % 0.15  %
Credit card retained loans 2.90  3.33  3.46  3.14  3.15  3.23  3.37 
Total consumer retained loans 1.27  1.42  1.47  1.35  1.29  1.38  1.37 
Wholesale retained loans 0.11  0.10  0.06  0.23  0.33  0.09  0.21 
Total retained loans 0.59  0.66  0.67  0.72  0.76  0.64  0.74 
Memo: Average retained loans
Consumer retained, excluding credit card loans $ 366,992  $ 366,710  $ 367,880  $ 368,485  $ 370,073  —  (1) $ 367,191  $ 372,166  (1)
Credit card retained loans 250,180  243,572  239,220  239,356  234,354  3  7  244,364  229,044  7 
Total average retained consumer loans 617,172  610,282  607,100  607,841  604,427  1  2  611,555  601,210  2 
Wholesale retained loans 855,585  825,356  793,654  775,282  747,045  4  15  825,092  718,467  15 
Total average retained loans $ 1,472,757  $ 1,435,638  $ 1,400,754  $ 1,383,123  $ 1,351,472  3  9  $ 1,436,647  $ 1,319,677  9 
(a)At September 30, 2026, June 30, 2026, March 31, 2026, December 31, 2025 and September 30, 2025, excludes an allowance for credit losses associated with certain accounts receivable in CIB of $119 million, $165 million, $286 million, $288 million and $285 million, respectively.
(b)Refer to footnote (g) on page 2 for additional information.






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CREDIT-RELATED INFORMATION, CONTINUED
(in millions, except ratio data)
Sep 30, 2026
Change
Sep 30, Jun 30, Mar 31, Dec 31, Sep 30, Jun 30, Sep 30,
2026 2026 2026 2025 2025 2026 2025
ALLOWANCE COMPONENTS AND RATIOS
ALLOWANCE FOR LOAN LOSSES
Consumer, excluding credit card
Asset-specific
 $ (615) $ (621) $ (623) $ (647) $ (621) 1  % 1  %
Portfolio-based 2,415  2,417  2,412  2,567  2,524  —  (4)
Total consumer, excluding credit card 1,800  1,796  1,789  1,920  1,903  —  (5)
Credit card
Portfolio-based 15,560  15,561  15,559  15,557  15,554  —  — 
Total credit card 15,560  15,561  15,559  15,557  15,554  —  — 
Total consumer 17,360  17,357  17,348  17,477  17,457  —  (1)
Wholesale
Asset-specific
 774  790  851  707  838  (2) (8)
Portfolio-based 8,138  8,005  7,729  7,581  7,440  2  9 
Total wholesale 8,912  8,795  8,580  8,288  8,278  1  8 
Total allowance for loan losses 26,272  26,152  25,928  25,765  25,735  —  2 
Allowance for lending-related commitments (a) 5,610  5,151  5,091  5,071  2,964  9  89 
Allowance for investment securities 47  63  78  106  105  (25) (55)
Total allowance for credit losses $ 31,929  $ 31,366  $ 31,097  $ 30,942  $ 28,804  2  11 
CREDIT RATIOS
Consumer, excluding credit card allowance, to total
consumer, excluding credit card retained loans 0.49  % 0.49  % 0.49  % 0.52  % 0.51  %
Credit card allowance to total credit card retained loans 6.16  6.23  6.51  6.28  6.61 
Wholesale allowance to total wholesale retained loans 1.02  1.04  1.05  1.05  1.08 
Total allowance to total retained loans 1.75  1.79  1.82  1.83  1.88 
Consumer, excluding credit card allowance, to consumer,
excluding credit card retained nonaccrual loans (b) 47  47  47  50  48 
Total allowance, excluding credit card allowance, to retained
 nonaccrual loans, excluding credit card nonaccrual loans (b) 133  132  124  123  117 
Wholesale allowance to wholesale retained nonaccrual loans 212  210  190  188  175 
Total allowance to total retained nonaccrual loans 326  326  311  311  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.




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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.
QUARTERLY TRENDS NINE MONTHS ENDED SEPTEMBER 30,
3Q26 Change 2026 Change
(in millions, except rates) 3Q26 2Q26 1Q26 4Q25 3Q25 2Q26 3Q25 2026 2025 2025
Net interest income - reported $ 27,036  $ 25,511  $ 25,366  $ 24,995  $ 23,966  6  % 13  % $ 77,913  $ 70,448  11  %
Fully taxable-equivalent adjustments 109  111  113  113  105  (2) 4  333  312  7 
Net interest income - managed basis
 $ 27,145  $ 25,622  $ 25,479  $ 25,108  $ 24,071  6  13  $ 78,246  $ 70,760  11 
Less: Markets net interest income 2,419  1,945  2,199  1,251  680  24  256  6,563  2,026  224 
Net interest income excluding Markets
 $ 24,726  $ 23,677  $ 23,280  $ 23,857  $ 23,391  4  6  $ 71,683  $ 68,734  4 
Average interest-earning assets $ 4,336,216  $ 4,287,954  $ 4,135,737  $ 3,923,824  $ 3,895,764  1  11  $ 4,254,037  $ 3,804,210  12 
Less: Average Markets interest-earning assets
1,688,170  1,686,445  1,599,089  1,403,245  1,404,633  —  20  1,658,228  1,349,670  23 
Average interest-earning assets excluding Markets $ 2,648,046  $ 2,601,509  $ 2,536,648  $ 2,520,579  $ 2,491,131  2  6  $ 2,595,809  $ 2,454,540  6 
Net yield on average interest-earning assets - managed basis (a) 2.48  % 2.40  % 2.50  % 2.54  % 2.45  % 2.46  % 2.49  %
Net yield on average Markets interest-earning assets
0.57  0.46  0.56  0.35  0.19  0.53  0.20 
Net yield on average interest-earning assets excluding Markets (a) 3.70  3.65  3.72  3.76  3.73  3.69  3.74 
Noninterest revenue - reported $ 23,136  $ 31,836  $ 24,470  $ 20,803  $ 22,461  (27) 3  $ 79,442  $ 66,201  20 
Fully taxable-equivalent adjustments 626  564  587  856  588  11  6  1,777  1,853  (4)
Noninterest revenue - managed basis $ 23,762  $ 32,400  $ 25,057  $ 21,659  $ 23,049  (27) 3  $ 81,219  $ 68,054  19 
Less: Markets noninterest revenue
 7,901  10,133  9,360  6,988  8,264  (22) (4) 27,394  25,517  7 
Noninterest revenue excluding Markets $ 15,861  $ 22,267  $ 15,697  $ 14,671  $ 14,785  (29) 7  $ 53,825  $ 42,537  27 
Memo: Markets total net revenue $ 10,320  $ 12,078  $ 11,559  $ 8,239  $ 8,944  (15) 15  $ 33,957  $ 27,543  23 
(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.



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