Summary of our 2023 results and the principles that guide us

Steadfast principles worth repeating (and one new one)

Mapping our progress and milestones

Celebrating the 20th anniversary of the Bank One/JPMorgan Chase merger

Financial performance

The critical impact of artificial intelligence

Our journey to the cloud

Acquiring First Republic Bank and its customers

Navigating in a complex and potentially dangerous world

Our extensive community outreach efforts, including diversity, equity and inclusion

What we learned: A five-point action plan to move forward on the climate challenge

Powering economic growth in Florida

Giving the bank regulatory and supervisory process a serious review

Protecting the essential role of market making (trading)

The pressure of quarterly earnings compounded by bad accounting and bad decisions

The hijacking of annual shareholder meetings

The undue influence of proxy advisors

The benefits and risks of private credit

A bank’s strength: Providing flexible capital

Benefiting from the OODA loop

Decision making and acting (have a process)

The secret sauce of leadership (have a heart)

Coalescing the Western world – A uniquely American task

Strengthening our position with a comprehensive, global economic security strategy

Providing strong leadership globally and effective policymaking domestically

Manager’s Journal: A Politician’s Dream Is a Businessman’s Nightmare

Out of the labyrinth, with focus and resolve

We should have more faith in the amazing power of our freedoms

How we can help lift up our low-income citizens and mend America’s torn social fabric

Consumer & Community Banking

Commercial & Investment Bank

Asset & Wealth Management

Corporate Responsibility

Three-Year Summary of Consolidated Financial Highlights

Five-Year Stock Performance

Introduction

Executive Overview

Consolidated Results of Operations

Consolidated Balance Sheets and Cash Flows Analysis

Explanation and Reconciliation of the Firm's Use of Non-GAAP Financial Measures

Business Segment Results

Firmwide Risk Management

Strategic Risk Management

Capital Risk Management

Liquidity Risk Management

Credit and Investment Risk Management

Market Risk Management

Country Risk Management

Climate Risk Management

Operational Risk Management

Critical Accounting Estimates Used by the Firm

Accounting and Reporting Developments

Forward-Looking Statements

Management’s Report on Internal Control Over Financial Reporting

Report of Independent Registered Public Accounting Firm

Consolidated Financial Statements

Notes to Consolidated Financial Statements

Distribution of Assets, Liabilities, and Stockholders' Equity; Interest Rates and Interest Differentials

Glossary of Terms and Acronyms