Bank of America (BAC) 8-K Results of Operations and Financial Condition

Supplemental Information

First Quarter 2012

This information is preliminary and based on company data available at the time of the earnings presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. Any forward-looking statements in this information are subject to the forward-looking language contained in Bank of America’s reports filed with the SEC pursuant to the Securities Exchange Act of 1934, which are available at the SEC’s website (www.sec.gov) or at Bank of America’s website (www.bankofamerica.com). Bank of America’s future financial performance is subject to risks and uncertainties as described in its SEC filings.

Bank of America Corporation and Subsidiaries
Table of Contents	Page
Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Core Net Interest Income	9
Quarterly Average Balances and Interest Rates	10
Debt Securities and Available-for-Sale Marketable Equity Securities	12
Quarterly Results by Business Segment	13
Consumer & Business Banking
Total Segment Results	14
Business Results	15
Key Indicators	17
Consumer Real Estate Services
Total Segment Results	18
Business Results	19
Key Indicators	21
Global Banking
Total Segment Results	22
Key Indicators	23
Investment Banking Product Rankings	24
Global Markets
Total Segment Results	25
Key Indicators	26
Credit Default Swaps with Monoline Financial Guarantors	27
Global Wealth & Investment Management
Total Segment Results	28
Key Indicators	29
All Other
Total Segment Results	30
Equity Investments	31
Outstanding Loans and Leases	32
Quarterly Average Loans and Leases by Business Segment	33
Commercial Credit Exposure by Industry	34
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	35
Selected Emerging Markets	36
Selected European Countries	37
Nonperforming Loans, Leases and Foreclosed Properties	38
Nonperforming Loans, Leases and Foreclosed Properties Activity	39
Quarterly Net Charge-offs and Net Charge-off Ratios	40
Allocation of the Allowance for Credit Losses by Product Type	41
Exhibit A: Non-GAAP Reconciliations	42

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Income statement
Net interest income	$	10,846		$	10,701		$	10,490		$	11,246		$	12,179
Noninterest income	11,432			14,187			17,963			1,990			14,698
Total revenue, net of interest expense	22,278			24,888			28,453			13,236			26,877
Provision for credit losses	2,418			2,934			3,407			3,255			3,814
Goodwill impairment	—			581			—			2,603			—
Merger and restructuring charges	—			101			176			159			202
All other noninterest expense (1)	19,141			18,840			17,437			20,094			20,081
Income tax expense (benefit)	66			441			1,201			(4,049		)	731
Net income (loss)	653			1,991			6,232			(8,826		)	2,049
Preferred stock dividends	325			407			343			301			310
Net income (loss) applicable to common shareholders	328			1,584			5,889			(9,127		)	1,739
Diluted earnings (loss) per common share (2)	0.03			0.15			0.56			(0.90		)	0.17
Average diluted common shares issued and outstanding (2)	10,761,917			11,124,523			10,464,395			10,094,928			10,181,351
Dividends paid per common share	$	0.01		$	0.01		$	0.01		$	0.01		$	0.01
Performance ratios
Return on average assets	0.12		%	0.36		%	1.07		%	n/m			0.36		%
Return on average common shareholders' equity	0.62			3.00			11.40			n/m			3.29
Return on average tangible common shareholders' equity (3)	0.95			4.72			18.30			n/m			5.28
Return on average tangible shareholders' equity (3)	1.67			5.20			17.03			n/m			5.54
At period end
Book value per share of common stock	$	19.83		$	20.09		$	20.80		$	20.29		$	21.15
Tangible book value per share of common stock (3)	12.87			12.95			13.22			12.65			13.21
Market price per share of common stock:
Closing price	$	9.57		$	5.56		$	6.12		$	10.96		$	13.33
High closing price for the period	9.93			7.35			11.09			13.72			15.25
Low closing price for the period	5.80			4.99			6.06			10.50			13.33
Market capitalization	103,123			58,580			62,023			111,060			135,057
Number of banking centers - U.S.	5,651			5,702			5,715			5,742			5,805
Number of branded ATMs - U.S.	17,255			17,756			17,752			17,817			17,886
Full-time equivalent employees	278,688			281,791			288,739			288,084			288,913

⁽¹⁾  Excludes merger and restructuring charges and goodwill impairment charges.

⁽²⁾  Due to a net loss applicable to common shareholders for the second quarter of 2011, the impact of antidilutive equity instruments was excluded from diluted earnings per share and average diluted common shares.

⁽³⁾  Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 2

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions, except per share information)
Fully taxable-equivalent (FTE) basis data(1)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income	$	11,053		$	10,959		$	10,739		$	11,493		$	12,397
Total revenue, net of interest expense	22,485			25,146			28,702			13,483			27,095
Net interest yield (2)	2.51		%	2.45		%	2.32		%	2.50		%	2.67		%
Efficiency ratio	85.13			77.64			61.37			n/m			74.86
Performance ratios, excluding goodwill impairment charges(3, 4)
				Fourth Quarter 2011						Second Quarter 2011
Per common share information
Earnings (loss)				$	0.21					$	(0.65	)
Diluted earnings (loss)				0.20						(0.65		)
Efficiency ratio (FTE basis)				75.33		%				n/m
Return on average assets				0.46						n/m
Return on average common shareholders’ equity				4.10						n/m
Return on average tangible common shareholders’ equity				6.46						n/m
Return on average tangible shareholders’ equity				6.72						n/m

⁽¹⁾  FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽²⁾  Calculation includes fees earned on overnight deposits placed with the Federal Reserve of $47 million for the first quarter of 2012, and $36 million, $38 million, $49 million and $63 million for the fourth, third, second and first quarters of 2011, respectively. For more information, see Quarter-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis on pages 10-11.

⁽³⁾  Performance ratios, excluding goodwill impairment charges, are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽⁴⁾  There were no goodwill impairment charges for the first quarter of 2012, and the third and first quarters of 2011.

n/m = not meaningful

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 3

Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Interest income
Loans and leases	$	10,173		$	10,512		$	11,205		$	11,320		$	11,929
Debt securities	2,725			2,235			1,729			2,675			2,882
Federal funds sold and securities borrowed or purchased under agreements to resell	460			449			584			597			517
Trading account assets	1,352			1,297			1,500			1,538			1,626
Other interest income	751			920			835			918			968
Total interest income	15,461			15,413			15,853			17,048			17,922
Interest expense
Deposits	549			616			704			843			839
Short-term borrowings	881			921			1,153			1,341			1,184
Trading account liabilities	477			411			547			627			627
Long-term debt	2,708			2,764			2,959			2,991			3,093
Total interest expense	4,615			4,712			5,363			5,802			5,743
Net interest income	10,846			10,701			10,490			11,246			12,179
Noninterest income
Card income	1,457			1,478			1,911			1,967			1,828
Service charges	1,912			1,982			2,068			2,012			2,032
Investment and brokerage services	2,876			2,694			3,022			3,009			3,101
Investment banking income	1,217			1,013			942			1,684			1,578
Equity investment income	765			3,227			1,446			1,212			1,475
Trading account profits	2,075			280			1,604			2,091			2,722
Mortgage banking income (loss)	1,612			2,119			1,617			(13,196		)	630
Insurance income (loss)	(60		)	143			190			400			613
Gains on sales of debt securities	752			1,192			737			899			546
Other income (loss)	(1,134		)	140			4,511			1,957			261
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses	(51		)	(127		)	(114		)	(63		)	(111		)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income	11			46			29			18			23
Net impairment losses recognized in earnings on available-for-sale debt securities	(40		)	(81		)	(85		)	(45		)	(88		)
Total noninterest income	11,432			14,187			17,963			1,990			14,698
Total revenue, net of interest expense	22,278			24,888			28,453			13,236			26,877
Provision for credit losses	2,418			2,934			3,407			3,255			3,814
Noninterest expense
Personnel	10,188			8,761			8,865			9,171			10,168
Occupancy	1,142			1,131			1,183			1,245			1,189
Equipment	611			525			616			593			606
Marketing	465			523			556			560			564
Professional fees	783			1,032			937			766			646
Amortization of intangibles	319			365			377			382			385
Data processing	856			688			626			643			695
Telecommunications	400			386			405			391			371
Other general operating	4,377			5,429			3,872			6,343			5,457
Goodwill impairment	—			581			—			2,603			—
Merger and restructuring charges	—			101			176			159			202
Total noninterest expense	19,141			19,522			17,613			22,856			20,283
Income (loss) before income taxes	719			2,432			7,433			(12,875		)	2,780
Income tax expense (benefit)	66			441			1,201			(4,049		)	731
Net income (loss)	$	653		$	1,991		$	6,232		$	(8,826	)	$	2,049
Preferred stock dividends	325			407			343			301			310
Net income (loss) applicable to common shareholders	$	328		$	1,584		$	5,889		$	(9,127	)	$	1,739
Per common share information
Earnings (loss)	$	0.03		$	0.15		$	0.58		$	(0.90	)	$	0.17
Diluted earnings (loss) (1)	0.03			0.15			0.56			(0.90		)	0.17
Dividends paid	0.01			0.01			0.01			0.01			0.01
Average common shares issued and outstanding	10,651,367			10,281,397			10,116,284			10,094,928			10,075,875
Average diluted common shares issued and outstanding (1)	10,761,917			11,124,523			10,464,395			10,094,928			10,181,351

⁽¹⁾  Due to a net loss applicable to common shareholders for the second quarter of 2011, the impact of antidilutive equity instruments was excluded from diluted earnings per share and average diluted common shares.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 4

Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net income (loss)	$	653		$	1,991		$	6,232		$	(8,826	)	$	2,049
Other comprehensive income, net of tax:
Net change in available-for-sale debt and marketable equity securities	(924		)	(2,866		)	(2,158		)	593			161
Net change in derivatives	382			281			(764		)	(332		)	266
Employee benefit plan adjustments	952			(648		)	66			63			75
Net change in foreign currency translation adjustments	31			(133		)	(8		)	6			27
Other comprehensive income (loss)	441			(3,366		)	(2,864		)	330			529
Comprehensive income (loss)	$	1,094		$	(1,375	)	$	3,368		$	(8,496	)	$	2,578

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 5

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	March 31 2012			December 31 2011			March 31 2011
Assets
Cash and cash equivalents	$	128,792		$	120,102		$	97,542
Time deposits placed and other short-term investments	20,479			26,004			23,707
Federal funds sold and securities borrowed or purchased under agreements to resell	225,784			211,183			234,056
Trading account assets	209,775			169,319			208,761
Derivative assets	59,051			73,023			65,334
Debt securities:
Available-for-sale	297,040			276,151			330,345
Held-to-maturity, at cost	34,205			35,265			431
Total debt securities	331,245			311,416			330,776
Loans and leases	902,294			926,200			932,425
Allowance for loan and lease losses	(32,211		)	(33,783		)	(39,843		)
Loans and leases, net of allowance	870,083			892,417			892,582
Premises and equipment, net	13,104			13,637			14,151
Mortgage servicing rights (includes $7,589, $7,378 and $15,282 measured at fair value)	7,723			7,510			15,560
Goodwill	69,976			69,967			73,869
Intangible assets	7,696			8,021			9,560
Loans held-for-sale	12,973			13,762			25,003
Customer and other receivables	74,358			66,999			97,318
Other assets	150,410			145,686			186,313
Total assets	$	2,181,449		$	2,129,046		$	2,274,532
Assets of consolidated VIEs included in total assets above (substantially all pledged as collateral)
Trading account assets	$	8,920		$	8,595		$	12,012
Derivative assets	1,109			1,634			2,280
Available-for-sale debt securities	—			—			2,104
Loans and leases	133,742			140,194			146,309
Allowance for loan and lease losses	(4,509		)	(5,066		)	(8,335		)
Loans and leases, net of allowance	129,233			135,128			137,974
Loans held-for-sale	1,577			1,635			1,605
All other assets	3,118			4,769			4,883
Total assets of consolidated VIEs	$	143,957		$	151,761		$	160,858

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 6

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	March 31 2012			December 31 2011			March 31 2011
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	338,215		$	332,228		$	286,357
Interest-bearing	630,822			624,814			652,096
Deposits in non-U.S. offices:
Noninterest-bearing	7,240			6,839			7,894
Interest-bearing	65,034			69,160			73,828
Total deposits	1,041,311			1,033,041			1,020,175
Federal funds purchased and securities loaned or sold under agreements to repurchase	258,491			214,864			260,521
Trading account liabilities	70,414			60,508			88,478
Derivative liabilities	49,172			59,520			53,501
Commercial paper and other short-term borrowings	39,254			35,698			58,324
Accrued expenses and other liabilities (includes $651, $714 and $961 of reserve for unfunded lending commitments)	135,396			123,049			128,221
Long-term debt	354,912			372,265			434,436
Total liabilities	1,948,950			1,898,945			2,043,656
Shareholders’ equity
Preferred stock, $0.01 par value; authorized -100,000,000 shares; issued and outstanding - 3,685,410, 3,689,084 and 3,943,660 shares	18,788			18,397			16,562
Common stock and additional paid-in capital, $0.01 par value; authorized - 12,800,000,000, 12,800,000,000 and 12,800,000,000 shares; issued and outstanding - 10,775,604,276, 10,535,937,957 and 10,131,803,417 shares	157,973			156,621			151,379
Retained earnings	60,734			60,520			62,483
Accumulated other comprehensive income (loss)	(4,996		)	(5,437		)	463
Other	—			—			(11		)
Total shareholders’ equity	232,499			230,101			230,876
Total liabilities and shareholders’ equity	$	2,181,449		$	2,129,046		$	2,274,532
Liabilities of consolidated VIEs included in total liabilities above
Commercial paper and other short-term borrowings	$	5,598		$	5,777		$	6,954
Long-term debt	44,267			49,054			65,197
All other liabilities	978			1,116			1,240
Total liabilities of consolidated VIEs	$	50,843		$	55,947		$	73,391

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 7

Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Risk-based capital (1):
Tier 1 common	$	131,602		$	126,690		$	117,658		$	114,684		$	123,882
Tier 1 capital	163,199			159,232			156,074			153,134			162,295
Total capital	213,480			215,101			215,596			217,986			229,094
Risk-weighted assets	1,220,827			1,284,467			1,359,564			1,392,747			1,433,377
Tier 1 common capital ratio (2)	10.78		%	9.86		%	8.65		%	8.23		%	8.64		%
Tier 1 capital ratio	13.37			12.40			11.48			11.00			11.32
Total capital ratio	17.49			16.75			15.86			15.65			15.98
Tier 1 leverage ratio	7.79			7.53			7.11			6.86			7.25
Tangible equity ratio (3)	7.48			7.54			7.16			6.63			6.85
Tangible common equity ratio (3)	6.58			6.64			6.25			5.87			6.10

⁽¹⁾  Reflects preliminary data for current period risk-based capital.

⁽²⁾  Tier 1 common capital ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

⁽³⁾  Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 42-45.)

*Preliminary data on risk-based capital 

Outstanding Common Stock

No common shares were repurchased in the first quarter of 2012.

There is no existing Board authorized share repurchase program.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 8

Bank of America Corporation and Subsidiaries
Core Net Interest Income
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)
As reported (1)	$	11,053		$	10,959		$	10,739		$	11,493		$	12,397
Impact of market-based net interest income (2)	(796		)	(866		)	(929		)	(874		)	(1,020		)
Core net interest income	$	10,257		$	10,093		$	9,810		$	10,619		$	11,377
Average earning assets
As reported	$	1,768,105		$	1,783,986		$	1,841,135		$	1,844,525		$	1,869,863
Impact of market-based earning assets (2)	(424,336		)	(414,141		)	(445,435		)	(457,857		)	(465,255		)
Core average earning assets	$	1,343,769		$	1,369,845		$	1,395,700		$	1,386,668		$	1,404,608
Net interest yield contribution (FTE basis) (3)
As reported (1)	2.51		%	2.45		%	2.32		%	2.50		%	2.67		%
Impact of market-based activities (2)	0.55			0.49			0.48			0.57			0.59
Core net interest yield on earning assets	3.06		%	2.94		%	2.80		%	3.07		%	3.26		%

⁽¹⁾  Net interest income and net interest yield include fees earned on overnight deposits placed with the Federal Reserve of $47 million for the first quarter of 2012 and $36 million, $38 million, $49 million and $63 million for the fourth, third, second and first quarters of 2011, respectively.

⁽²⁾  Represents the impact of market-based amounts included in Global Markets.

⁽³⁾  Calculated on an annualized basis.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 9

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis
(Dollars in millions)
	First Quarter 2012						Fourth Quarter 2011						First Quarter 2011
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (1)	$	31,404	$	65	0.83	%	$	27,688	$	85	1.19	%	$	31,294	$	88	1.14	%
Federal funds sold and securities borrowed or purchased under agreements to resell	233,061		460		0.79		237,453		449		0.75		227,379		517		0.92
Trading account assets	175,778		1,399		3.19		161,848		1,354		3.33		221,041		1,669		3.05
Debt securities (2)	327,758		2,732		3.33		332,990		2,245		2.69		335,847		2,917		3.49
Loans and leases (3):
Residential mortgage (4)	260,573		2,489		3.82		266,144		2,596		3.90		262,049		2,881		4.40
Home equity	122,933		1,164		3.80		126,251		1,207		3.80		136,089		1,335		3.96
Discontinued real estate	12,082		103		3.42		14,073		128		3.65		12,899		110		3.42
U.S. credit card	98,334		2,459		10.06		102,241		2,603		10.10		109,941		2,837		10.47
Non-U.S. credit card	14,151		408		11.60		15,981		420		10.41		27,633		779		11.43
Direct/Indirect consumer (5)	88,321		801		3.65		90,861		863		3.77		90,097		993		4.47
Other consumer (6)	2,617		40		6.24		2,751		41		6.14		2,753		45		6.58
Total consumer	599,011		7,464		5.00		618,302		7,858		5.06		641,461		8,980		5.65
U.S. commercial	195,111		1,756		3.62		196,778		1,798		3.63		191,353		1,926		4.08
Commercial real estate (7)	39,190		339		3.48		40,673		343		3.34		48,359		437		3.66
Commercial lease financing	21,679		272		5.01		21,278		204		3.84		21,634		322		5.95
Non-U.S. commercial	58,731		391		2.68		55,867		395		2.80		36,159		299		3.35
Total commercial	314,711		2,758		3.52		314,596		2,740		3.46		297,505		2,984		4.06
Total loans and leases	913,722		10,222		4.49		932,898		10,598		4.52		938,966		11,964		5.14
Other earning assets	86,382		743		3.46		91,109		904		3.95		115,336		922		3.24
Total earning assets (8)	1,768,105		15,621		3.55		1,783,986		15,635		3.49		1,869,863		18,077		3.92
Cash and cash equivalents (1)	112,512		47				94,287		36				138,241		63
Other assets, less allowance for loan and lease losses	306,557						329,294						330,434
Total assets	$	2,187,174					$	2,207,567					$	2,338,538

⁽¹⁾  For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Corporation’s Consolidated Balance Sheet presentation of these deposits. Net interest income and net interest yield are calculated excluding these fees.

⁽²⁾  Yields on available-for-sale debt securities are calculated based on fair value rather than the cost basis. The use of fair value does not have a material impact on net interest yield.

⁽³⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

⁽⁴⁾  Includes non-U.S. residential mortgages of $86 million in the first quarter of 2012, and $88 million and $92 million in the fourth and first quarters of 2011.

⁽⁵⁾  Includes non-U.S. consumer loans of $7.5 billion in the first quarter of 2012, and $8.4 billion and $8.2 billion in the fourth and first quarters of 2011.

⁽⁶⁾  Includes consumer finance loans of $1.6 billion in the first quarter of 2012, and $1.7 billion and $1.9 billion in the fourth and first quarters of 2011; other non-U.S. consumer loans of $903 million in the first quarter of 2012, and $959 million and $777 million in the fourth and first quarters of 2011; and consumer overdrafts of $90 million in the first quarter of 2012, and $107 million and $76 million in the fourth and first quarters of 2011.

⁽⁷⁾  Includes U.S. commercial real estate loans of $37.4 billion in the first quarter of 2012, and $38.7 billion and $45.7 billion in the fourth and first quarters of 2011, and non-U.S. commercial real estate loans of $1.8 billion in the first quarter of 2012, and $1.9 billion and $2.7 billion in the fourth and first quarters of 2011.

⁽⁸⁾  The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:

	First Quarter 2012				Fourth Quarter 2011				First Quarter 2011
Federal funds sold and securities borrowed or purchased under agreements to resell		$	51			$	52			$	55
Trading account assets		—				—				(70		)
Debt securities		(140		)		(462		)		(362		)
U.S. commercial		(16		)		(17		)		(11		)
Non-U.S. commercial		(1		)		—				—
Net hedge expenses on assets		$	(106	)		$	(427	)		$	(388	)

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 10

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	First Quarter 2012						Fourth Quarter 2011						First Quarter 2011
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	40,543	$	14	0.14	%	$	39,609	$	16	0.16	%	$	38,905	$	32	0.34	%
NOW and money market deposit accounts	458,649		186		0.16		454,249		192		0.17		475,954		316		0.27
Consumer CDs and IRAs	100,044		194		0.78		103,488		220		0.84		118,306		300		1.03
Negotiable CDs, public funds and other time deposits	22,586		36		0.64		22,413		34		0.60		13,995		39		1.11
Total U.S. interest-bearing deposits	621,822		430		0.28		619,759		462		0.30		647,160		687		0.43
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	18,170		28		0.62		20,454		29		0.55		21,534		38		0.72
Governments and official institutions	1,286		1		0.41		1,466		1		0.36		2,307		2		0.35
Time, savings and other	55,241		90		0.66		57,814		124		0.85		60,432		112		0.76
Total non-U.S. interest-bearing deposits	74,697		119		0.64		79,734		154		0.77		84,273		152		0.73
Total interest-bearing deposits	696,519		549		0.32		699,493		616		0.35		731,433		839		0.46
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings	293,056		881		1.21		284,766		921		1.28		371,573		1,184		1.29
Trading account liabilities	71,872		477		2.67		70,999		411		2.29		83,914		627		3.03
Long-term debt	363,518		2,708		2.99		389,557		2,764		2.80		440,511		3,093		2.84
Total interest-bearing liabilities (1)	1,424,965		4,615		1.30		1,444,815		4,712		1.29		1,627,431		5,743		1.43
Noninterest-bearing sources:
Noninterest-bearing deposits	333,593						333,038						291,707
Other liabilities	196,050						201,479						188,631
Shareholders’ equity	232,566						228,235						230,769
Total liabilities and shareholders’ equity	$	2,187,174					$	2,207,567					$	2,338,538
Net interest spread					2.25	%					2.20	%					2.49	%
Impact of noninterest-bearing sources					0.25						0.24						0.17
Net interest income/yield on earning assets (2)			$	11,006	2.50	%			$	10,923	2.44	%			$	12,334	2.66	%

⁽¹⁾  The impact of interest rate risk management derivatives on interest expense is presented below. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

	First Quarter 2012				Fourth Quarter 2011				First Quarter 2011
NOW and money market deposit accounts		$	—			$	—			$	(1	)
Consumer CDs and IRAs		34				36				47
Negotiable CDs, public funds and other time deposits		3				3				4
Banks located in non-U.S. countries		4				8				18
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		325				367				445
Long-term debt		(1,024		)		(1,177		)		(1,134		)
Net hedge income on liabilities		$	(658	)		$	(763	)		$	(621	)

⁽²⁾  For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Corporation's Consolidated Balance Sheet presentation of these deposits. Net interest income and net interest yield are calculated excluding these fees.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 11

Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	March 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	40,609	$	231	$	(874	)	$	39,966
Mortgage-backed securities:
Agency	172,335		3,177		(421		)	175,091
Agency collateralized mortgage obligations	41,698		802		(145		)	42,355
Non-agency residential	11,398		300		(228		)	11,470
Non-agency commercial	4,333		567		(1		)	4,899
Non-U.S. securities	6,530		56		(18		)	6,568
Corporate bonds	2,364		85		(28		)	2,421
Other taxable securities (1)	10,595		74		(52		)	10,617
Total taxable securities	$	289,862	$	5,292	$	(1,767	)	$	293,387
Tax-exempt securities	3,694		16		(57		)	3,653
Total available-for-sale debt securities	$	293,556	$	5,308	$	(1,824	)	$	297,040
Held-to-maturity debt securities	34,205		246		(11		)	34,440
Total debt securities	$	327,761	$	5,554	$	(1,835	)	$	331,480
Available-for-sale marketable equity securities (2)	$	64	$	28	$	(5	)	$	87
	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	43,433	$	242	$	(811	)	$	42,864
Mortgage-backed securities:
Agency	138,073		4,511		(21		)	142,563
Agency collateralized mortgage obligations	44,392		774		(167		)	44,999
Non-agency residential	14,948		301		(482		)	14,767
Non-agency commercial	4,894		629		(1		)	5,522
Non-U.S. securities	4,872		62		(14		)	4,920
Corporate bonds	2,993		79		(37		)	3,035
Other taxable securities (1)	12,889		49		(60		)	12,878
Total taxable securities	$	266,494	$	6,647	$	(1,593	)	$	271,548
Tax-exempt securities	4,678		15		(90		)	4,603
Total available-for-sale debt securities	$	271,172	$	6,662	$	(1,683	)	$	276,151
Held-to-maturity debt securities	35,265		181		(4		)	35,442
Total debt securities	$	306,437	$	6,843	$	(1,687	)	$	311,593
Available-for-sale marketable equity securities (2)	$	65	$	10	$	(7	)	$	68

⁽¹⁾  Substantially all asset-backed securities.

⁽²⁾  Classified in other assets on the Consolidated Balance Sheet.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 12

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	First Quarter 2012
	Total Corporation		Consumer & Business Banking		Consumer Real  Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	11,053	$	5,079	$	775		$	2,399		$	798		$	1,578	$	424
Noninterest income (loss)	11,432		2,341		1,899			2,052			3,395			2,782		(1,037		)
Total revenue, net of interest expense (FTE basis)	22,485		7,420		2,674			4,451			4,193			4,360		(613		)
Provision for credit losses	2,418		877		507			(238		)	(20		)	46		1,246
Noninterest expense	19,141		4,246		3,905			2,178			3,076			3,450		2,286
Income (loss) before income taxes	926		2,297		(1,738		)	2,511			1,137			864		(4,145		)
Income tax expense (benefit) (FTE basis)	273		843		(593		)	921			339			317		(1,554		)
Net income (loss)	$	653	$	1,454	$	(1,145	)	$	1,590		$	798		$	547	$	(2,591	)
Average
Total loans and leases	$	913,722	$	141,578	$	110,755		$	277,096		n/m			$	103,036	$	264,113
Total assets (1)	2,187,174		523,074		159,105			350,526			$	557,911		284,926		311,632
Total deposits	1,030,112		466,239		n/m			237,532			n/m			252,705		39,774
Period end
Total loans and leases	$	902,294	$	138,909	$	109,264		$	272,224		n/m			$	102,903	$	260,006
Total assets (1)	2,181,449		543,189		158,207						$	548,612		278,185		311,272
Total deposits	1,041,311		486,160		n/m			237,608			n/m			252,755		30,146
	Fourth Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,959	$	5,079	$	809		$	2,309		$	863		$	1,496	$	403
Noninterest income	14,187		2,526		2,467			1,694			942			2,671		3,887
Total revenue, net of interest expense (FTE basis)	25,146		7,605		3,276			4,003			1,805			4,167		4,290
Provision for credit losses	2,934		1,297		1,001			(256		)	(18		)	118		792
Noninterest expense	19,522		4,426		4,573			2,137			2,893			3,637		1,856
Income (loss) before income taxes	2,690		1,882		(2,298		)	2,122			(1,070		)	412		1,642
Income tax expense (benefit) (FTE basis)	699		639		(854		)	785			(302		)	153		278
Net income (loss)	$	1,991	$	1,243	$	(1,444	)	$	1,337		$	(768	)	$	259	$	1,364
Average
Total loans and leases	$	932,898	$	147,150	$	116,993		$	276,844		n/m			$	102,709	$	272,808
Total assets (1)	2,207,567		514,798		171,763			348,469			$	552,190		284,629		335,718
Total deposits	1,032,531		459,819		n/m			240,732			n/m			250,040		46,055
Period end
Total loans and leases	$	926,200	$	146,378	$	112,359		$	278,177		n/m			$	103,460	$	267,621
Total assets (1)	2,129,046		520,503		163,712			350,148			$	501,150		284,062		309,471
Total deposits	1,033,041		464,263		n/m			246,466			n/m			253,264		32,729
	First Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	12,397	$	5,600	$	896		$	2,482		$	1,020		$	1,571	$	828
Noninterest income	14,698		2,864		1,167			2,220			4,252			2,925		1,270
Total revenue, net of interest expense (FTE basis)	27,095		8,464		2,063			4,702			5,272			4,496		2,098
Provision for credit losses	3,814		661		1,098			(123		)	(33		)	46		2,165
Noninterest expense	20,283		4,561		4,777			2,309			3,114			3,589		1,933
Income (loss) before income taxes	2,998		3,242		(3,812		)	2,516			2,191			861		(2,000		)
Income tax expense (benefit) (FTE basis)	949		1,201		(1,412		)	932			797			319		(888		)
Net income (loss)	$	2,049	$	2,041	$	(2,400	)	$	1,584		$	1,394		$	542	$	(1,112	)
Average
Total loans and leases	$	938,966	$	160,976	$	120,560		$	256,846		n/m			$	100,852	$	288,301
Total assets (1)	2,338,538		513,629		209,328			323,357			$	581,074		297,531		413,619
Total deposits	1,023,140		457,037		n/m			225,785			n/m			258,719		50,107
Period end
Total loans and leases	$	932,425	$	156,950	$	118,749		$	257,468		n/m			$	101,287	$	286,531
Total assets (1)	2,274,532		526,848		204,484			327,611			$	576,487		285,690		353,412
Total deposits	1,020,175		471,009		n/m			229,199			n/m			256,751		36,154

⁽¹⁾  Total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 13

Bank of America Corporation and Subsidiaries
Consumer & Business Banking Segment Results
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	5,079		$	5,079		$	5,149		$	5,549		$	5,600
Noninterest income:
Card income	1,278			1,303			1,720			1,686			1,577
Service charges	1,063			1,144			1,202			1,094			1,078
All other income	—			79			54			350			209
Total noninterest income	2,341			2,526			2,976			3,130			2,864
Total revenue, net of interest expense (FTE basis)	7,420			7,605			8,125			8,679			8,464
Provision for credit losses	877			1,297			1,132			400			661
Noninterest expense	4,246			4,426			4,342			4,375			4,561
Income before income taxes	2,297			1,882			2,651			3,904			3,242
Income tax expense (FTE basis)	843			639			985			1,402			1,201
Net income	$	1,454		$	1,243		$	1,666		$	2,502		$	2,041
Net interest yield (FTE basis)	4.22		%	4.23		%	4.26		%	4.58		%	4.75		%
Return on average allocated equity	11.05			9.31			12.61			19.09			15.41
Return on average economic capital (1)	26.15			22.10			30.45			45.86			36.10
Efficiency ratio (FTE basis)	57.23			58.20			53.44			50.41			53.89
Balance Sheet
Average
Total loans and leases	$	141,578		$	147,150		$	151,492		$	155,122		$	160,976
Total earning assets (2)	483,983			475,859			479,746			486,115			478,468
Total assets (2)	523,074			514,798			518,945			522,693			513,629
Total deposits	466,239			459,819			464,256			467,179			457,037
Allocated equity	52,947			53,005			52,382			52,559			53,700
Economic capital (1)	22,424			22,418			21,781			21,904			23,002
Period end
Total loans and leases	$	138,909		$	146,378		$	149,739		$	153,391		$	156,950
Total earning assets (2)	502,124			480,378			480,597			482,728			490,106
Total assets (2)	543,189			520,503			519,562			521,306			526,848
Total deposits	486,160			464,263			465,773			465,457			471,009

⁽¹⁾ Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽²⁾ Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 14

Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results
(Dollars in millions)
	First Quarter 2012
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking (1)
Net interest income (FTE basis)	$	5,079		$	2,119		$	2,616		$	344
Noninterest income:
Card income	1,278			—			1,278			—
Service charges	1,063			968			—			95
All other income (loss)	—			60			(85		)	25
Total noninterest income	2,341			1,028			1,193			120
Total revenue, net of interest expense (FTE basis)	7,420			3,147			3,809			464
Provision for credit losses	877			51			790			36
Noninterest expense	4,246			2,606			1,380			260
Income before income taxes	2,297			490			1,639			168
Income tax expense (FTE basis)	843			180			601			62
Net income	$	1,454		$	310		$	1,038		$	106
Net interest yield (FTE basis)	4.22		%	2.02		%	8.95		%	2.93		%
Return on average allocated equity	11.05			5.37			20.19			4.73
Return on average economic capital (2)	26.15			23.71			41.14			6.14
Efficiency ratio (FTE basis)	57.23			82.83			36.22			56.04
Balance Sheet
Average
Total loans and leases	$	141,578		n/m			$	116,267		$	24,603
Total earning assets (3)	483,983			$	421,551		117,580			47,145
Total assets (3)	523,074			447,917			123,179			54,272
Total deposits	466,239			424,023			n/m			41,908
Allocated equity	52,947			23,194			20,671			9,082
Economic capital (2)	22,424			5,262			10,179			6,983
Period end
Total loans and leases	$	138,909		n/m			$	113,861		$	24,376
Total earning assets (3)	502,124			$	440,491		115,177			47,325
Total assets (3)	543,189			467,058			121,425			55,575
Total deposits	486,160			443,129			n/m			42,221
	Fourth Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking (1)
Net interest income (FTE basis)	$	5,079		$	1,998		$	2,766		$	315
Noninterest income:
Card income	1,303			—			1,303			—
Service charges	1,144			1,036			—			108
All other income (loss)	79			46			(15		)	48
Total noninterest income	2,526			1,082			1,288			156
Total revenue, net of interest expense (FTE basis)	7,605			3,080			4,054			471
Provision for credit losses	1,297			57			1,138			102
Noninterest expense	4,426			2,785			1,376			265
Income before income taxes	1,882			238			1,540			104
Income tax expense (FTE basis)	639			89			511			39
Net income	$	1,243		$	149		$	1,029		$	65
Net interest yield (FTE basis)	4.23		%	1.91		%	8.96		%	2.69		%
Return on average allocated equity	9.31			2.46			19.80			3.13
Return on average economic capital (2)	22.10			10.00			40.71			4.15
Efficiency ratio (FTE basis)	58.20			90.46			33.97			55.82
Balance Sheet
Average
Total loans and leases	$	147,150		n/m			$	121,122		$	25,306
Total earning assets (3)	475,859			$	414,905		122,374			46,707
Total assets (3)	514,798			441,629			127,530			53,767
Total deposits	459,819			417,110			n/m			42,388
Allocated equity	53,005			23,862			20,610			8,533
Economic capital (2)	22,418			5,923			10,061			6,434
Period end
Total loans and leases	$	146,378		n/m			$	120,668		$	25,006
Total earning assets (3)	480,378			$	418,622		121,991			46,515
Total assets (3)	520,503			445,680			127,623			53,949
Total deposits	464,263			421,871			n/m			41,518

For footnotes see page 16.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 15

Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2011
	Total Consumer & Business Banking			Deposits			Card Services			Business Banking (1)
Net interest income (FTE basis)	$	5,600		$	2,205		$	3,013		$	382
Noninterest income:
Card income	1,577			—			1,577			—
Service charges	1,078			923			—			155
All other income	209			61			125			23
Total noninterest income	2,864			984			1,702			178
Total revenue, net of interest expense (FTE basis)	8,464			3,189			4,715			560
Provision for credit losses	661			33			595			33
Noninterest expense	4,561			2,583			1,624			354
Income before income taxes	3,242			573			2,496			173
Income tax expense (FTE basis)	1,201			212			925			64
Net income	$	2,041		$	361		$	1,571		$	109
Net interest yield (FTE basis)	4.75		%	2.14		%	9.15		%	3.81		%
Return on average allocated equity	15.41			6.19			28.77			5.58
Return on average economic capital (2)	36.10			25.87			55.54			7.60
Efficiency ratio (FTE basis)	53.89			80.98			34.44			63.34
Balance Sheet
Average
Total loans and leases	$	160,976		n/m			$	132,472		$	27,864
Total earning assets (3)	478,468			$	417,218		133,538			40,690
Total assets (3)	513,629			443,461			134,043			49,103
Total deposits	457,037			418,298			n/m			38,462
Allocated equity	53,700			23,641			22,149			7,910
Economic capital (2)	23,002			5,683			11,509			5,810
Period end
Total loans and leases	$	156,950		n/m			$	128,844		$	27,491
Total earning assets (3)	490,106			$	429,956		129,944			41,536
Total assets (3)	526,848			456,247			132,410			49,520
Total deposits	471,009			431,022			n/m			39,693

⁽¹⁾  Business Banking, formerly part of Global Commercial Banking, provides a wide range of lending-related products and services, integrated working capital and treasury solutions to U.S.-based companies with annual sales generally in the range of $1 million to $50 million, and also includes the results of the Corporation's investment in a merchant processing joint venture.

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽³⁾  Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) for total Consumer & Business Banking, Deposits and Business Banking. Card Services does not require an asset allocation. As a result, the sum of the businesses does not agree to total Consumer & Business Banking results.

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 16

Bank of America Corporation and Subsidiaries
Consumer & Business Banking Key Indicators
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Average deposit balances
Checking	$	204,412		$	198,274		$	196,807		$	195,968		$	188,073
Savings	38,286			37,409			38,822			39,391			36,875
MMS	138,512			136,257			137,508			137,094			134,454
CDs and IRAs	80,844			83,719			87,105			90,729			93,824
Non-U.S. and other	4,185			4,160			4,014			3,997			3,811
Total average deposit balances	$	466,239		$	459,819		$	464,256		$	467,179		$	457,037
Deposit spreads (excludes noninterest costs)
Checking	2.81		%	2.95		%	3.09		%	3.25		%	3.38		%
Savings	2.97			3.11			3.25			3.32			3.42
MMS	1.30			1.35			1.37			1.41			1.49
CDs and IRAs	0.55			0.46			0.39			0.36			0.34
Non-U.S. and other	1.00			3.44			3.63			3.82			3.97
Total deposit spreads	1.96			2.03			2.09			2.15			2.20
Client brokerage assets	$	73,422		$	66,576		$	61,918		$	69,000		$	66,703
Online banking active accounts (units in thousands)	30,439			29,870			29,917			29,660			30,065
Mobile banking active accounts (units in thousands)	9,702			9,166			8,531			7,652			6,970
Banking centers	5,651			5,702			5,715			5,742			5,805
ATMs	17,255			17,756			17,752			17,817			17,886
U.S. Credit Card
Loans
Average credit card outstandings	$	98,334		$	102,241		$	103,671		$	106,164		$	109,941
Ending credit card outstandings	96,433			102,291			102,803			104,659			107,107
Credit quality
Net charge-offs	$	1,331		$	1,432		$	1,639		$	1,931		$	2,274
	5.44		%	5.55		%	6.28		%	7.29		%	8.39		%
30+ delinquency	$	3,384		$	3,823		$	4,019		$	4,263		$	5,093
	3.51		%	3.74		%	3.91		%	4.07		%	4.75		%
90+ delinquency	$	1,866		$	2,070		$	2,128		$	2,413		$	2,879
	1.93		%	2.02		%	2.07		%	2.31		%	2.68		%
Other U.S. credit card indicators
Gross interest yield	10.06		%	10.10		%	10.14		%	10.27		%	10.47		%
Risk adjusted margin	6.55			6.77			6.08			6.23			4.25
New account growth (in thousands)	782			797			851			730			657
Purchase volumes	$	44,797		$	50,901		$	48,547		$	48,974		$	43,936
Debit card data
Purchase volumes	$	62,941		$	63,726		$	62,774		$	64,049		$	59,996
Business Banking
Loans
Average outstandings	$	24,603		$	25,306		$	27,258		$	27,153		$	27,864
Credit spread	2.01		%	1.77		%	2.37		%	2.44		%	2.83		%
Credit quality
Net charge-offs	$	97		$	118		$	100		$	127		$	117
	1.58		%	1.85		%	1.46		%	1.88		%	1.70		%
Nonperforming assets	$	1,228		$	1,300		$	1,548		$	1,716		$	1,844
	5.04		%	5.20		%	5.77		%	6.22		%	6.71		%

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 17

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Segment Results
(Dollars in millions; except as noted)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	775		$	809		$	923		$	579		$	896
Noninterest income:
Mortgage banking income (loss)	1,831			2,330			1,800			(13,018		)	695
Insurance income (loss)	6			(3		)	23			299			431
All other income	62			140			76			825			41
Total noninterest income (loss)	1,899			2,467			1,899			(11,894		)	1,167
Total revenue, net of interest expense (FTE basis)	2,674			3,276			2,822			(11,315		)	2,063
Provision for credit losses	507			1,001			918			1,507			1,098
Goodwill impairment	—			—			—			2,603			—
All other noninterest expense	3,905			4,573			3,829			6,022			4,777
Loss before income taxes	(1,738		)	(2,298		)	(1,925		)	(21,447		)	(3,812		)
Income tax benefit (FTE basis)	(593		)	(854		)	(802		)	(6,941		)	(1,412		)
Net loss	$	(1,145	)	$	(1,444	)	$	(1,123	)	$	(14,506	)	$	(2,400	)
Net interest yield (FTE basis)	2.39		%	2.30		%	2.45		%	1.46		%	2.11		%
Balance Sheet
Average
Total loans and leases	$	110,755		$	116,993		$	120,079		$	121,683		$	120,560
Total earning assets	130,201			139,789			149,177			158,674			172,339
Total assets	159,105			171,763			182,843			198,030			209,328
Allocated equity	14,791			14,757			14,240			17,139			18,736
Economic capital (1)	14,791			14,757			14,240			14,437			15,994
Period end
Total loans and leases	$	109,264		$	112,359		$	119,823		$	121,553		$	118,749
Total earning assets	130,420			132,381			144,831			149,908			166,265
Total assets	158,207			163,712			188,769			185,398			204,484
Period end (in billions)
Mortgage servicing portfolio (2)	$	1,686.7		$	1,763.0		$	1,917.4		$	1,991.3		$	2,028.4

⁽¹⁾  Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding MSRs). Economic capital is a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segment. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽²⁾  Includes servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 18

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results (1)
(Dollars in millions)
	First Quarter 2012
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	775		$	347		$	428
Noninterest income:
Mortgage banking income	1,831			736			1,095
Insurance income	6			6			—
All other income	62			22			40
Total noninterest income	1,899			764			1,135
Total revenue, net of interest expense (FTE basis)	2,674			1,111			1,563
Provision for credit losses	507			53			454
Noninterest expense	3,905			877			3,028
Income (loss) before income taxes	(1,738		)	181			(1,919		)
Income tax expense (benefit) (FTE basis)	(593		)	66			(659		)
Net income (loss)	$	(1,145	)	$	115		$	(1,260	)
Balance Sheet
Average
Total loans and leases	$	110,755		$	51,663		$	59,092
Total earning assets	130,201			57,479			72,722
Total assets	159,105			58,362			100,743
Allocated equity	14,791			n/a			n/a
Economic capital (2)	14,791			n/a			n/a
Period end
Total loans and leases	$	109,264		$	51,002		$	58,262
Total earning assets	130,420			57,728			72,692
Total assets	158,207			58,694			99,513
	Fourth Quarter 2011
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	809		$	384		$	425
Noninterest income:
Mortgage banking income	2,330			508			1,822
Insurance loss	(3		)	(3		)	—
All other income	140			99			41
Total noninterest income	2,467			604			1,863
Total revenue, net of interest expense (FTE basis)	3,276			988			2,288
Provision for credit losses	1,001			63			938
Noninterest expense	4,573			749			3,824
Income (loss) before income taxes	(2,298		)	176			(2,474		)
Income tax expense (benefit) (FTE basis)	(854		)	66			(920		)
Net income (loss)	$	(1,444	)	$	110		$	(1,554	)
Balance Sheet
Average
Total loans and leases	$	116,993		$	54,301		$	62,692
Total earning assets	139,789			63,738			76,051
Total assets	171,763			65,004			106,759
Allocated equity	14,757			n/a			n/a
Economic capital (2)	14,757			n/a			n/a
Period end
Total loans and leases	$	112,359		$	52,371		$	59,988
Total earning assets	132,381			58,823			73,558
Total assets	163,712			59,660			104,052
For footnotes see page 20.
Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 19

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Results (1) (continued)
(Dollars in millions)
	First Quarter 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	896		$	548	$	348
Noninterest income:
Mortgage banking income	695			567		128
Insurance income	431			431		—
All other income	41			31		10
Total noninterest income	1,167			1,029		138
Total revenue, net of interest expense (FTE basis)	2,063			1,577		486
Provision for credit losses	1,098			—		1,098
Noninterest expense	4,777			1,479		3,298
Income (loss) before income taxes	(3,812		)	98		(3,910		)
Income tax expense (benefit) (FTE basis)	(1,412		)	36		(1,448		)
Net income (loss)	$	(2,400	)	$	62	$	(2,462	)
Balance Sheet
Average
Total loans and leases	$	120,560		$	54,763	$	65,797
Total earning assets	172,339			78,250		94,089
Total assets	209,328			78,256		131,072
Allocated equity	18,736			n/a		n/a
Economic capital (2)	15,994			n/a		n/a
Period end
Total loans and leases	$	118,749		$	54,423	$	64,326
Total earning assets	166,265			72,862		93,403
Total assets	204,484			72,189		132,295

⁽¹⁾  Consumer Real Estate Services includes Home Loans and Legacy Assets & Servicing. The results of certain mortgage servicing right activities, including net hedge results which were previously included in Home Loans, together with any related assets or liabilities used as economic hedges are included in Legacy Assets & Servicing. The goodwill asset and related impairment charge that was recorded in 2011 are included in Legacy Assets & Servicing.

⁽²⁾  Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding MSRs). Economic capital is a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segment. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

n/a = not applicable

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 20

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2012				Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	7,378			$	7,881			$	12,372			$	15,282			$	14,900
Net additions	77				(290		)		33				176				841
Impact of customer payments (1)	(521		)		(612		)		(664		)		(639		)		(706		)
Other changes in mortgage servicing rights fair value (2)	655				399				(3,860		)		(2,447		)		247
Balance, end of period	$	7,589			$	7,378			$	7,881			$	12,372			$	15,282
Capitalized mortgage servicing rights (% of loans serviced for investors)	58			bps	54			bps	52			bps	78			bps	95			bps
Mortgage loans serviced for investors (in billions)	$	1,313			$	1,379			$	1,512			$	1,578			$	1,610
Loan production:
Consumer Real Estate Services
First mortgage	$	12,185			$	18,053			$	30,448			$	38,253			$	52,519
Home equity	597				580				660				879				1,575
Total Corporation (3)
First mortgage	15,238				21,614				33,038				40,370				56,734
Home equity	760				759				847				1,054				1,728
Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	929			$	502			$	803			$	824			$	668
Representations and warranties provision	(282		)		(263		)		(278		)		(14,037		)		(1,013		)
Total production income (loss)	647				239				525				(13,213		)		(345		)
Servicing income:
Servicing fees	1,332				1,333				1,464				1,556				1,606
Impact of customer payments (1)	(521		)		(612		)		(664		)		(639		)		(706		)
Fair value changes of mortgage servicing rights, net of economic hedge results (4)	194				1,165				361				(873		)		3
Other servicing-related revenue	179				205				114				151				137
Total net servicing income	1,184				2,091				1,275				195				1,040
Total Consumer Real Estate Services mortgage banking income (loss)	1,831				2,330				1,800				(13,018		)		695
Other business segments’ mortgage banking loss (5)	(219		)		(211		)		(183		)		(178		)		(65		)
Total consolidated mortgage banking income (loss)	$	1,612			$	2,119			$	1,617			$	(13,196	)		$	630

⁽¹⁾  Represents the change in the market value of the mortgage servicing rights asset due to the impact of customer payments received during the year.

⁽²⁾  These amounts reflect the change in discount rates and prepayment speed assumptions, mostly due to changes in interest rates, as well as the effect of changes in other assumptions.

⁽³⁾  In addition to loan production in Consumer Real Estate Services, the remaining first mortgage and home equity loan production is primarily in GWIM.

⁽⁴⁾  Includes sale of mortgage servicing rights.

⁽⁵⁾  Includes the effect of transfers of mortgage loans from Consumer Real Estate Services to the asset and liability management portfolio included in All Other.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 21

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	2,399		$	2,309		$	2,323		$	2,376		$	2,482
Noninterest income:
Service charges	809			803			830			877			915
Investment banking income	652			629			616			948			868
All other income	591			262			183			460			437
Total noninterest income	2,052			1,694			1,629			2,285			2,220
Total revenue, net of interest expense (FTE basis)	4,451			4,003			3,952			4,661			4,702
Provision for credit losses	(238		)	(256		)	(182		)	(557		)	(123		)
Noninterest expense	2,178			2,137			2,219			2,223			2,309
Income before income taxes	2,511			2,122			1,915			2,995			2,516
Income tax expense (FTE basis)	921			785			710			1,074			932
Net income	$	1,590		$	1,337		$	1,205		$	1,921		$	1,584
Net interest yield (FTE basis)	3.17		%	3.04		%	3.05		%	3.33		%	3.66		%
Return on average allocated equity	13.79			11.34			9.89			16.14			13.00
Return on average economic capital (1)	30.68			25.06			20.87			34.06			26.46
Efficiency ratio (FTE basis)	48.93			53.37			56.14			47.71			49.11
Balance Sheet
Average
Total loans and leases	$	277,096		$	276,844		$	268,170		$	260,132		$	256,846
Total earnings assets (2)	304,522			301,448			301,853			285,808			275,424
Total assets (2)	350,526			348,469			349,237			332,361			323,357
Total deposits	237,532			240,732			246,291			235,699			225,785
Allocated equity	46,393			46,762			48,356			47,735			49,407
Economic capital (1)	20,857			21,187			22,957			22,631			24,299
Period end
Total loans and leases	$	272,224		$	278,177		$	273,549		$	263,066		$	257,468
Total earnings assets (2)	294,752			302,353			294,072			294,164			279,134
Total assets (2)				350,148			342,038			341,587			327,611
Total deposits	237,608			246,466			236,264			243,885			229,199

⁽¹⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credit and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provide additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽²⁾  Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 22

Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Investment Banking fees (1)
Advisory (2)	$	190		$	265		$	260		$	356		$	301
Debt issuance	347			255			230			420			389
Equity issuance	115			109			126			172			178
Total Investment Banking fees (3)	$	652		$	629		$	616		$	948		$	868
Business Lending
Corporate	$	881		$	694		$	777		$	788		$	987
Commercial	1,148			1,177			1,169			1,369			1,238
Total Business Lending revenue (3)	$	2,029		$	1,871		$	1,946		$	2,157		$	2,225
Treasury Services
Corporate	$	645		$	632		$	616		$	638		$	621
Commercial	943			909			856			912			855
Total Treasury Services revenue (3)	$	1,588		$	1,541		$	1,472		$	1,550		$	1,476
Average deposit balances
Interest-bearing	$	76,213		$	78,598		$	90,689		$	96,731		$	94,532
Noninterest-bearing	161,319			162,134			155,602			138,968			131,253
Total average deposits	$	237,532		$	240,732		$	246,291		$	235,699		$	225,785
Loan spread	1.89		%	1.85		%	1.97		%	2.02		%	2.33		%
Provision for credit losses	$	(238	)	$	(256	)	$	(182	)	$	(557	)	$	(123	)
Credit quality (4, 5)
Reservable utilized criticized exposure	$	17,983		$	20,072		$	22,859		$	26,813		$	30,336
	6.43		%	7.05		%	8.16		%	9.70		%	10.95		%
Nonperforming loans, leases and foreclosed properties	$	4,130		$	4,646		$	5,377		$	5,984		$	6,791
	1.54		%	1.70		%	2.00		%	2.31		%	2.67		%
Average loans and leases by product
U.S. commercial	$	128,887		$	124,882		$	119,155		$	118,160		$	117,057
Commercial real estate	33,651			34,604			36,458			38,770			40,913
Commercial lease financing	23,387			23,050			23,101			23,041			23,478
Non-U.S. commercial	49,125			50,878			47,181			39,089			32,961
Direct/Indirect consumer	42,040			43,427			42,253			41,048			42,412
Other	6			3			22			24			25
Total average loans and leases	$	277,096		$	276,844		$	268,170		$	260,132		$	256,846
Total Corporation Investment Banking fees
Advisory (2)	$	204		$	273		$	273		$	382		$	320
Debt issuance	777			589			515			939			845
Equity issuance	305			267			316			422			448
Total investment banking fees	1,286			1,129			1,104			1,743			1,613
Self-Led	(69		)	(116		)	(162		)	(59		)	(35		)
Total Investment Banking fees	$	1,217		$	1,013		$	942		$	1,684		$	1,578

⁽¹⁾  Includes self-led deals and represents fees attributable to Global Banking under an internal sharing arrangement.

⁽²⁾  Advisory includes fees on debt and equity advisory and mergers and acquisitions.

⁽³⁾  Total Global Banking revenue includes certain insignificant items that are not included in Investment Banking fees, Business Lending revenue or Treasury Services revenue.

⁽⁴⁾  Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total reservable commercial utilized credit exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers' acceptances.

⁽⁵⁾  Nonperforming loans, leases and foreclosed properties are on an end-of-period basis. The nonperforming ratio is nonperforming assets divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 23

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Three Months Ended March 31, 2012
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	2	10.0	%	2	11.6	%
Leveraged loans	2	10.2		1	15.1
Mortgage-backed securities	7	6.5		7	7.1
Asset-backed securities	2	12.3		2	14.4
Convertible debt	3	9.2		1	32.1
Common stock underwriting	7	5.4		5	8.7
Investment-grade corporate debt	2	6.0		2	12.9
Syndicated loans	1	10.5		1	16.7
Net investment banking revenue	2	6.2		2	9.8
Announced mergers and acquisitions	8	11.2		5	17.9
Equity capital markets	7	5.8		4	10.3
Debt capital markets	5	5.0		3	9.3

Source: Dealogic data as of April 2, 2012. Figures above include self-led transactions.

• Rankings based on deal volumes except for net investment banking revenue rankings which reflect fees.

• Debt capital markets excludes loans but includes agencies.

• Mergers and acquisitions fees included in investment banking revenues reflect 10 percent fee credit at announcement and 90 percent fee credit at completion as per Dealogic.

• Mergers and acquisitions volume rankings are for announced transactions and provide credit to all investment banks advising the target or acquiror.

• Each advisor receives full credit for the deal amount unless advising a minority stakeholder.

Highlights

Global top 3 rankings in:
High-yield corporate debt	Convertible debt
Leveraged loans	Investment-grade corporate debt
Asset-backed securities	Syndicated loans
U.S. top 3 rankings in:
High-yield corporate debt	Investment-grade corporate debt
Leveraged loans	Syndicated loans
Asset-backed securities	Debt capital markets
Convertible debt

Top 3 rankings excluding self-led deals:

Both Global & U.S.:    High-yield corporate debt, Leveraged loans, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans

This information is preliminary and based on company data available at the time of the presentation. 24

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	798		$	863		$	925		$	874		$	1,020
Noninterest income:
Investment and brokerage services	510			447			584			557			647
Investment banking fees	556			424			438			699			651
Trading account profits	2,038			370			1,422			2,016			2,616
All other income (loss)	291			(299		)	(74		)	267			338
Total noninterest income	3,395			942			2,370			3,539			4,252
Total revenue, net of interest expense (FTE basis) (1)	4,193			1,805			3,295			4,413			5,272
Provision for credit losses	(20		)	(18		)	3			(8		)	(33		)
Noninterest expense	3,076			2,893			2,966			3,263			3,114
Income (loss) before income taxes	1,137			(1,070		)	326			1,158			2,191
Income tax expense (benefit) (FTE basis)	339			(302		)	878			247			797
Net income (loss)	$	798		$	(768	)	$	(552	)	$	911		$	1,394
Return on average allocated equity	18.19		%	n/m			n/m			16.38		%	22.02		%
Return on average economic capital (2)	23.54			n/m			n/m			19.99			25.99
Efficiency ratio (FTE basis)	73.36			n/m			90.01		%	73.94			59.06
Balance Sheet
Average
Total trading-related assets (3)	$	448,731		$	444,319		$	489,172		$	499,274		$	456,966
Total earning assets (3)	424,336			414,141			445,435			457,857			465,255
Total assets	557,911			552,190			603,661			622,251			581,074
Allocated equity	17,642			19,130			20,934			22,315			25,687
Economic capital (2)	13,669			15,154			16,954			18,345			21,814
Period end
Total trading-related assets (3)	$	440,091		$	397,876		$	446,697		$	444,556		$	454,855
Total earning assets (3)	417,634			372,852			413,677			405,396			461,427
Total assets	548,612			501,150			552,097			560,684			576,487
Trading-related assets (average)
Trading account securities	$	185,890		$	172,955		$	199,201		$	213,631		$	205,497
Reverse repurchases	160,079			162,507			174,574			173,270			151,211
Securities borrowed	47,286			46,476			46,930			53,756			45,033
Derivative assets	55,476			62,381			68,467			58,617			55,225
Total trading-related assets (3)	$	448,731		$	444,319		$	489,172		$	499,274		$	456,966

⁽¹⁾  Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 26.

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽³⁾  Trading-related assets includes assets which are not considered earning assets (i.e., derivative assets).

n/m = not meaningful

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 25

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	First Quarter 2012		Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011		First Quarter 2011
Sales and trading revenue
Fixed income, currency and commodities	$	2,844	$	809		$	2,059	$	2,643	$	3,390
Equity income	907		670			957		1,077		1,239
Total sales and trading revenue	$	3,751	$	1,479		$	3,016	$	3,720	$	4,629
Sales and trading revenue breakdown
Net interest income	$	798	$	863		$	925	$	874	$	1,020
Commissions	510		447			584		557		647
Trading	2,038		370			1,422		2,016		2,616
Other	405		(201		)	85		273		346
Total sales and trading revenue	$	3,751	$	1,479		$	3,016	$	3,720	$	4,629

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 26

Bank of America Corporation and Subsidiaries
Credit Default Swaps with Monoline Financial Guarantors
(Dollars in millions)
	March 31, 2012
	Monoline Exposure
Notional	$	14,663
Mark-to-market or guarantor receivable	$	1,491
Credit valuation adjustment	(248		)
Total	$	1,243
Credit valuation adjustment %	17		%
Gains during the three months ended March 31, 2012	$	104
	December 31, 2011
	Monoline Exposure
Notional	$	21,070
Mark-to-market or guarantor receivable	$	1,766
Credit valuation adjustment	(417		)
Total	$	1,349
Credit valuation adjustment %	24		%
Gains during the three months ended December 31, 2011	$	62
Gains during the year ended December 31, 2011	116

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 27

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	1,578		$	1,496		$	1,412		$	1,573		$	1,571
Noninterest income:
Investment and brokerage services	2,296			2,190			2,364			2,378			2,378
All other income	486			481			462			544			547
Total noninterest income	2,782			2,671			2,826			2,922			2,925
Total revenue, net of interest expense (FTE basis)	4,360			4,167			4,238			4,495			4,496
Provision for credit losses	46			118			162			72			46
Noninterest expense	3,450			3,637			3,507			3,624			3,589
Income before income taxes	864			412			569			799			861
Income tax expense (FTE basis)	317			153			211			286			319
Net income	$	547		$	259		$	358		$	513		$	542
Net interest yield (FTE basis)	2.39		%	2.24		%	2.07		%	2.34		%	2.30		%
Return on average allocated equity	12.78			5.78			7.97			11.71			12.26
Return on average economic capital (1)	33.81			14.73			20.30			30.45			30.98
Efficiency ratio (FTE basis)	79.11			87.25			82.74			80.64			79.83
Balance Sheet
Average
Total loans and leases	$	103,036		$	102,709		$	102,786		$	102,201		$	100,852
Total earning assets (2)	265,362			265,122			271,207			269,208			277,222
Total assets (2)	284,926			284,629			290,974			289,262			297,531
Total deposits	252,705			250,040			255,882			255,432			258,719
Allocated equity	17,228			17,845			17,826			17,560			17,932
Economic capital (1)	6,587			7,182			7,135			6,854			7,204
Period end
Total loans and leases	$	102,903		$	103,460		$	102,362		$	102,878		$	101,287
Total earning assets (2)	258,733			263,586			260,940			264,104			265,005
Total assets (2)	278,185			284,062			280,897			284,504			285,690
Total deposits	252,755			253,264			251,251			255,796			256,751

⁽¹⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 42-45.)

⁽²⁾  Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 28

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management - Key Indicators and Metrics
(Dollars in millions, except as noted)
	First Quarter 2012		Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Revenues
Merrill Lynch Global Wealth Management	$	3,682	$	3,463	$	3,594		$	3,770		$	3,789
U.S. Trust	653		679		626			706			682
Other (1)	25		25		18			19			25
Total revenues	$	4,360	$	4,167	$	4,238		$	4,495		$	4,496
Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,841,106	$	1,749,059	$	1,686,404		$	1,795,860		$	1,813,547
U.S. Trust	333,876		324,003		315,244			341,924			345,111
Other (1)	66,309		66,182		65,153			67,875			71,759
Client Balances by Type
Assets under management	$	692,959	$	647,126	$	616,899		$	661,010		$	664,554
Client brokerage assets	1,074,454		1,024,193		986,718			1,065,996			1,087,536
Assets in custody	114,938		107,989		106,293			116,499			116,816
Client deposits	252,755		253,264		251,251			255,796			256,751
Loans and leases (2)	106,185		106,672		105,640			106,358			104,760
Total client balances	$	2,241,291	$	2,139,244	$	2,066,801		$	2,205,659		$	2,230,417
Assets Under Management Flows
Liquidity assets under management (3)	$	70	$	1,029	$	(2,568	)	$	(3,771	)	$	(6,659	)
Long-term assets under management (4)	7,752		4,462		4,493			4,535			14,159
Total assets under management flows	$	7,822	$	5,491	$	1,925		$	764		$	7,500
Associates(5)
Number of Financial Advisors	17,512		17,308		17,094			16,443			15,797
Total Wealth Advisors	18,840		18,667		18,498			17,836			17,217
Total Client Facing Professionals	21,912		21,784		21,624			20,957			20,347
Merrill Lynch Global Wealth Management Metrics
Financial Advisory Productivity (6) (in thousands)	$	905	$	881	$	921		$	965		$	1,005
U.S. Trust Metrics
Client Facing Professionals	2,223		2,247		2,270			2,279			2,312

⁽¹⁾  Other includes the results of BofA Global Capital Management (the former Columbia cash management business) and other administrative items.

⁽²⁾  Includes margin receivables which are classified in other assets on the Consolidated Balance Sheet.

⁽³⁾  Defined as assets under advisory and discretion of GWIM in which the investment strategy seeks a high level of income while maintaining liquidity and capital preservation. The duration of these strategies is less than one year.

⁽⁴⁾  Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.

⁽⁵⁾  Includes Financial Advisors in the Consumer & Business Banking segment of 1,337, 1,143, 1,032, 796 and 594 at March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011, respectively.

⁽⁶⁾  Financial Advisor Productivity is defined as annualized MLGWM total revenue divided by the total number of financial advisors (excluding Financial Advisors in the Consumer & Business Banking segment). Total revenue excludes corporate allocation of net interest income related to certain ALM activities.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 29

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Net interest income (FTE basis)	$	424		$	403		$	7		$	542		$	828
Noninterest income:
Card income (2)	87			90			72			149			154
Equity investment income	417			3,110			1,380			1,139			1,415
Gains on sales of debt securities	712			1,102			697			831			468
All other income (loss)	(2,253		)	(415		)	4,114			(111		)	(767		)
Total noninterest income	(1,037		)	3,887			6,263			2,008			1,270
Total revenue, net of interest expense (FTE basis)	(613		)	4,290			6,270			2,550			2,098
Provision for credit losses	1,246			792			1,374			1,841			2,165
Goodwill impairment	—			581			—			—			—
Merger and restructuring charges	—			101			176			159			202
All other noninterest expense	2,286			1,174			574			587			1,731
Income (loss) before income taxes	(4,145		)	1,642			4,146			(37		)	(2,000		)
Income tax expense (benefit) (FTE basis)	(1,554		)	278			(532		)	130			(888		)
Net income (loss)	$	(2,591	)	$	1,364		$	4,678		$	(167	)	$	(1,112	)
Balance Sheet
Average
Total loans and leases	$	264,113		$	272,808		$	286,753		$	287,840		$	288,301
Total assets (3)	311,632			335,718			355,794			374,513			413,619
Total deposits	39,774			46,055			52,846			48,072			50,107
Allocated equity (4)	83,565			76,736			68,672			77,759			65,307
Period end
Total loans and leases	$	260,006		$	267,621		$	274,268		$	287,425		$	286,531
Total assets (5)	311,272			309,471			336,265			367,840			353,412
Total deposits	30,146			32,729			53,248			43,908			36,154

⁽¹⁾  All Other consists of two broad groupings, Equity Investments and Other. Equity Investments includes Global Principal Investments, Strategic and other investments. Other includes liquidating businesses, merger and restructuring charges, ALM functions (i.e., residential mortgage portfolio and investment securities) and related activities (i.e., economic hedges, fair value option on structured liabilities), and the impact of certain allocation methodologies. Other also includes certain residential mortgage and discontinued real estate products that are managed by Legacy Assets & Servicing within Consumer Real Estate Services.

⁽²⁾  During the third quarter of 2011, the international consumer card business results were moved to All Other from Consumer & Business Banking and prior periods were reclassified.

⁽³⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $592.4 billion, $580.5 billion, $602.4 billion, $596.4 billion and $586.1 billion for the first quarter of 2012, and the fourth, third, second and first quarters of 2011, respectively.

⁽⁴⁾  Represents both the risk-based capital and the portion of goodwill and intangibles assigned to All Other as well as the remaining portion of equity not specifically allocated to the business segments.

⁽⁵⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $597.9 billion, $580.7 billion, $581.2 billion, $596.0 billion and $593.1 billion at March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011, respectively.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 30

Bank of America Corporation and Subsidiaries
Equity Investments
(Dollars in millions)
	Global Principal Investments Exposures
	March 31, 2012						December 31, 2011		Equity  Investment Income
	Book Value		Unfunded Commitments		Total		Total		First Quarter 2012
Global Principal Investments:
Private Equity Investments	$	1,505	$	78	$	1,583	$	1,621	$	168
Global Real Estate	724		101		825		1,083		47
Global Strategic Capital	1,554		130		1,684		1,896		115
Legacy/Other Investments	940		122		1,062		1,769		73
Total Global Principal Investments	$	4,723	$	431	$	5,154	$	6,369	$	403

Components of Equity Investment Income
(Dollars in millions)
	First Quarter 2012		Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011		First Quarter 2011
Global Principal Investments	$	403	$	212	$	(1,580	)	$	401	$	1,367
Strategic and other investments (1)	14		2,898		2,960			738		48
Total equity investment income included in All Other	417		3,110		1,380			1,139		1,415
Total equity investment income included in the business segments	348		117		66			73		60
Total consolidated equity investment income	$	765	$	3,227	$	1,446		$	1,212	$	1,475

⁽¹⁾  Includes the Corporation’s equity investment interest in China Construction Bank and Banc of America Merchant Services, LLC.

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 31

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	March 31 2012		December 31 2011		Increase (Decrease)
Consumer
Residential mortgage (1)	$	256,431	$	262,290	$	(5,859	)
Home equity	121,246		124,699		(3,453		)
Discontinued real estate (2)	10,453		11,095		(642		)
U.S. credit card	96,433		102,291		(5,858		)
Non-U.S. credit card	13,914		14,418		(504		)
Direct/Indirect consumer (3)	86,128		89,713		(3,585		)
Other consumer (4)	2,607		2,688		(81		)
Total consumer loans excluding loans accounted for under the fair value option	587,212		607,194		(19,982		)
Consumer loans accounted for under the fair value option (5)	2,204		2,190		14
Total consumer	589,416		609,384		(19,968		)
Commercial
U.S. commercial (6)	193,684		193,199		485
Commercial real estate (7)	38,049		39,596		(1,547		)
Commercial lease financing	21,556		21,989		(433		)
Non-U.S. commercial	52,601		55,418		(2,817		)
Total commercial loans excluding loans accounted for under the option	305,890		310,202		(4,312		)
Commercial loans accounted for under the fair value option (5)	6,988		6,614		374
Total commercial	312,878		316,816		(3,938		)
Total loans and leases	$	902,294	$	926,200	$	(23,906	)

⁽¹⁾  Includes non-U.S. residential mortgages of $87 million and $85 million at March 31, 2012 and December 31, 2011.

⁽²⁾  Includes $9.3 billion and $9.9 billion of pay option loans, and $1.1 billion and $1.2 billion of subprime loans at March 31, 2012 and December 31, 2011. The Corporation no longer originates these products.

⁽³⁾  Includes dealer financial services loans of $40.2 billion and $43.0 billion, consumer lending loans of $7.1 billion and $8.0 billion, U.S. securities-based lending margin loans of $24.0 billion and $23.6 billion, student loans of $5.7 billion and $6.0 billion, non-U.S. consumer loans of $7.6 billion and $7.6 billion, and other consumer loans of $1.5 billion and $1.5 billion at March 31, 2012 and December 31, 2011.

⁽⁴⁾  Includes consumer finance loans of $1.6 billion and $1.7 billion, other non-U.S. consumer loans of $951 million and $929 million, and consumer overdrafts of $58 million and $103 million at March 31, 2012 and December 31, 2011.

⁽⁵⁾  Certain consumer loans are accounted for under the fair value option and include residential mortgages of $881 million and $906 million and discontinued real estate of $1.3 billion and $1.3 billion at March 31, 2012 and December 31, 2011. Certain commercial loans are accounted for under the fair value option and include U.S. commercial loans of $2.2 billion and $2.2 billion, and non-U.S. commercial loans of $4.8 billion and $4.4 billion at March 31, 2012 and December 31, 2011.

⁽⁶⁾  Includes U.S. small business commercial loans, including card related products, of $13.0 billion and $13.3 billion at March 31, 2012 and December 31, 2011.

⁽⁷⁾  Includes U.S. commercial real estate loans of $36.3 billion and $37.8 billion, and non-U.S. commercial real estate loans of $1.7 billion and $1.8 billion at March 31, 2012 and December 31, 2011.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 32

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	First Quarter 2012
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets		GWIM		All  Other
Consumer
Residential mortgage	$	260,573	$	—	$	949		$	—	$	95	$	37,201	$	222,328
Home equity	122,933		—		108,335			—		—		14,372		226
Discontinued real estate	12,082		—		1,304			—		—		—		10,778
U.S. credit card	98,334		98,334		—			—		—		—		—
Non-U.S. credit card	14,151		—		—			—		—		—		14,151
Direct/Indirect consumer	88,321		7,648		89			42,040		5		32,652		5,887
Other consumer	2,617		527		—			6		—		10		2,074
Total consumer	599,011		106,509		110,677			42,046		100		84,235		255,444
Commercial
U.S. commercial	195,111		32,702		76			128,887		11,951		17,108		4,387
Commercial real estate	39,190		2,353		2			33,651		185		1,551		1,448
Commercial lease financing	21,679		—		—			23,387		—		4		(1,712		)
Non-U.S. commercial	58,731		14		—			49,125		4,908		138		4,546
Total commercial	314,711		35,069		78			235,050		17,044		18,801		8,669
Total loans and leases	$	913,722	$	141,578	$	110,755		$	277,096	$	17,144	$	103,036	$	264,113
	Fourth Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets		GWIM		All  Other
Consumer
Residential mortgage	$	266,144	$	—	$	1,106		$	—	$	95	$	37,025	$	227,918
Home equity	126,251		—		111,138			—		—		14,805		308
Discontinued real estate	14,073		—		2,848			—		—		—		11,225
U.S. credit card	102,241		102,241		—			—		—		—		—
Non-U.S. credit card	15,981		—		—			—		—		—		15,981
Direct/Indirect consumer	90,861		8,546		93			43,427		726		31,984		6,085
Other consumer	2,751		654		—			3		—		13		2,081
Total consumer	618,302		111,441		115,185			43,430		821		83,827		263,598
Commercial
U.S. commercial	196,778		33,217		1,807			124,882		11,432		17,111		8,329
Commercial real estate	40,673		2,477		1			34,604		428		1,589		1,574
Commercial lease financing	21,278		—		—			23,050		—		4		(1,776		)
Non-U.S. commercial	55,867		15		—			50,878		3,713		178		1,083
Total commercial	314,596		35,709		1,808			233,414		15,573		18,882		9,210
Total loans and leases	$	932,898	$	147,150	$	116,993		$	276,844	$	16,394	$	102,709	$	272,808
	First Quarter 2011
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services			Global Banking		Global Markets		GWIM		All  Other
Consumer
Residential mortgage	$	262,049	$	—	$	—		$	—	$	99	$	35,752	$	226,198
Home equity	136,089		—		119,123			13		—		15,686		1,267
Discontinued real estate	12,899		—		—			—		—		—		12,899
U.S. credit card	109,941		109,941		—			—		—		—		—
Non-U.S. credit card	27,633		—		—			—		—		—		27,633
Direct/Indirect consumer	90,097		11,839		97			42,412		366		28,110		7,273
Other consumer	2,753		1,660		(16		)	12		—		17		1,080
Total consumer	641,461		123,440		119,204			42,437		465		79,565		276,350
Commercial
U.S. commercial	191,353		34,886		1,349			117,057		8,989		19,355		9,717
Commercial real estate	48,359		2,618		7			40,913		459		1,731		2,631
Commercial lease financing	21,634		—		—			23,478		—		34		(1,878		)
Non-U.S. commercial	36,159		32		—			32,961		1,518		167		1,481
Total commercial	297,505		37,536		1,356			214,409		10,966		21,287		11,951
Total loans and leases	$	938,966	$	160,976	$	120,560		$	256,846	$	11,431	$	100,852	$	288,301

Certain prior period amounts have been reclassified among the segments to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 33

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3)
(Dollars in millions)
	Commercial Utilized							Total Commercial Committed
	March 31 2012		December 31 2011		Increase (Decrease)			March 31 2012			December 31 2011			Increase (Decrease)
Diversified financials	$	56,119	$	64,957	$	(8,838	)	$	87,171		$	94,969		$	(7,798	)
Real estate (4)	45,779		48,138		(2,359		)	60,770			62,566			(1,796		)
Government and public education	41,981		43,090		(1,109		)	55,126			57,021			(1,895		)
Capital goods	23,127		24,025		(898		)	49,730			48,013			1,717
Healthcare equipment and services	30,636		31,298		(662		)	47,590			48,141			(551		)
Retailing	25,663		25,478		185			45,088			46,290			(1,202		)
Materials	19,875		19,384		491			37,863			38,070			(207		)
Consumer services	24,111		24,445		(334		)	37,799			38,498			(699		)
Banks	30,562		35,231		(4,669		)	34,433			38,735			(4,302		)
Energy	15,569		15,151		418			32,476			32,074			402
Food, beverage and tobacco	14,817		15,904		(1,087		)	29,296			30,501			(1,205		)
Commercial services and supplies	18,431		20,089		(1,658		)	29,290			30,831			(1,541		)
Utilities	7,938		8,102		(164		)	24,229			24,552			(323		)
Media	11,037		11,447		(410		)	21,091			21,158			(67		)
Transportation	12,625		12,683		(58		)	19,503			19,036			467
Individuals and trusts	14,483		14,993		(510		)	18,239			19,001			(762		)
Insurance, including monolines	8,998		10,090		(1,092		)	15,344			16,157			(813		)
Pharmaceuticals and biotechnology	4,463		4,141		322			11,678			11,328			350
Technology hardware and equipment	4,680		5,247		(567		)	10,954			12,173			(1,219		)
Religious and social organizations	7,989		8,536		(547		)	10,868			11,160			(292		)
Software and services	4,517		4,304		213			10,676			9,579			1,097
Telecommunication services	3,936		4,297		(361		)	9,977			10,424			(447		)
Consumer durables and apparel	4,370		4,505		(135		)	8,726			8,965			(239		)
Automobiles and components	2,951		2,813		138			7,363			7,178			185
Food and staples retailing	3,226		3,273		(47		)	6,470			6,476			(6		)
Other	6,345		4,888		1,457			8,954			7,636			1,318
Total commercial credit exposure by industry	$	444,228	$	466,509	$	(22,281	)	$	730,704		$	750,532		$	(19,828	)
Net credit default protection purchased on total commitments (5)								$	(19,880	)	$	(19,356	)

⁽¹⁾  Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by the amount of cash collateral applied of $60.6 billion and $58.9 billion at March 31, 2012 and December 31, 2011. Not reflected in utilized and committed exposure is additional derivative collateral held of $16.7 billion and $16.1 billion which consists primarily of other marketable securities at March 31, 2012 and December 31, 2011.

⁽²⁾  Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value and are comprised of loans outstanding of $7.0 billion and $6.6 billion and issued letters of credit at notional value of $1.0 billion and $1.3 billion at March 31, 2012 and December 31, 2011. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $23.0 billion and $24.4 billion at March 31, 2012 and December 31, 2011.

⁽³⁾  Includes U.S. small business commercial exposure.

⁽⁴⁾  Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based upon the borrowers’ or counterparties’ primary business activity using operating cash flows and primary source of repayment as key factors.

⁽⁵⁾  Represents net notional credit protection purchased.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 34

Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile (1)
	March 31 2012		December 31 2011
Less than or equal to one year	16	%	16	%
Greater than one year and less than or equal to five years	78		77
Greater than five years	6		7
Total net credit default protection	100	%	100	%

⁽¹⁾  To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown above.

Net Credit Default Protection by Credit Exposure Debt Rating (1)
(Dollars in millions)
	March 31, 2012					December 31, 2011
Ratings (2, 3)	Net Notional			Percent		Net Notional			Percent
AAA	$	(201	)	1.0	%	$	(32	)	0.2	%
AA	(583		)	2.9		(779		)	4.0
A	(8,667		)	43.6		(7,184		)	37.1
BBB	(7,387		)	37.2		(7,436		)	38.4
BB	(965		)	4.9		(1,527		)	7.9
B	(1,386		)	7.0		(1,534		)	7.9
CCC and below	(543		)	2.7		(661		)	3.4
NR (4)	(148		)	0.7		(203		)	1.1
Total net credit default protection	$	(19,880	)	100.0	%	$	(19,356	)	100.0	%

⁽¹⁾  To mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of debt rating for net notional credit default protection purchased is shown as a negative and the net notional credit protection sold is shown as a positive amount.

⁽²⁾  Ratings are refreshed on a quarterly basis.

⁽³⁾  The Corporation considers ratings of BBB- or higher to meet the definition of investment grade.

⁽⁴⁾  In addition to names which have not been rated, “NR” includes $9 million and $(15) million in net credit default swap index positions at March 31, 2012 and December 31, 2011. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 35

Bank of America Corporation and Subsidiaries
Selected Emerging Markets (1)
(Dollars in millions)	Loans and Leases, and Loan Commitments		Other Financing (2)		Net Counterparty Exposure (3)		Securities / Other Investments (4)		Total Cross-border Exposure (5)		Local Country Exposure Net of Local Liabilities (6)		Total Selected Emerging Market Exposure at March 31, 2012		Increase (Decrease) from December 31, 2011
Region/Country
Asia Pacific
India	$	4,090	$	1,411	$	509	$	3,067	$	9,077	$	—	$	9,077	$	(1,405	)
South Korea	1,633		1,181		399		2,504		5,717		2,118		7,835		512
China (7)	3,583		276		763		2,332		6,954		217		7,171		17
Hong Kong	288		539		190		1,074		2,091		1,671		3,762		601
Singapore	510		134		446		1,779		2,869		—		2,869		(78		)
Taiwan	564		39		147		711		1,461		892		2,353		(34		)
Thailand	37		9		27		1,118		1,191		—		1,191		496
Other Asia Pacific (8)	847		64		174		633		1,718		7		1,725		(72		)
Total Asia Pacific	$	11,552	$	3,653	$	2,655	$	13,218	$	31,078	$	4,905	$	35,983	$	37
Latin America
Brazil	$	1,881	$	176	$	297	$	1,969	$	4,323	$	2,955	$	7,278	$	(886	)
Mexico	2,050		290		250		671		3,261		—		3,261		(729		)
Chile	982		49		277		16		1,324		15		1,339		(268		)
Other Latin America (8)	488		410		34		440		1,372		154		1,526		22
Total Latin America	$	5,401	$	925	$	858	$	3,096	$	10,280	$	3,124	$	13,404	$	(1,861	)
Middle East and Africa
United Arab Emirates	$	1,722	$	76	$	137	$	17	$	1,952	$	—	$	1,952	$	245
Saudi Arabia	167		69		446		20		702		22		724		61
South Africa	501		47		61		26		635		—		635		(73		)
Other Middle East and Africa (8)	696		250		135		162		1,243		5		1,248		55
Total Middle East and Africa	$	3,086	$	442	$	779	$	225	$	4,532	$	27	$	4,559	$	288
Central and Eastern Europe
Russian Federation	$	2,139	$	240	$	36	$	111	$	2,526	$	13	$	2,539	$	615
Turkey	1,004		166		13		429		1,612		54		1,666		497
Other Central and Eastern Europe (8)	106		64		229		285		684		—		684		(212		)
Total Central and Eastern Europe	$	3,249	$	470	$	278	$	825	$	4,822	$	67	$	4,889	$	900
Total emerging market exposure	$	23,288	$	5,490	$	4,570	$	17,364	$	50,712	$	8,123	$	58,835	$	(636	)

⁽¹⁾  There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe. At March 31, 2012 and December 31, 2011, there was $2.6 billion and $1.7 billion in emerging market exposure accounted for under the fair value option.

⁽²⁾  Includes acceptances, due froms, standby letters of credit, commercial letters of credit and formal guarantees.

⁽³⁾  Net Counterparty Exposure includes the fair value of derivatives and secured financing transactions, which have been reduced by all eligible collateral, predominantly in cash, pledged under legally enforceable netting agreements. The notional value of repurchase transactions was $3.1 billion at March 31, 2012.

⁽⁴⁾  Securities exposures are reduced by hedges and short positions on a single-name basis to but not below zero.

⁽⁵⁾  Cross-border exposure includes amounts payable to the Corporation by borrowers or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting requirements.

⁽⁶⁾  Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked. Local funding or liabilities are subtracted from local exposures consistent with FFIEC reporting requirements. Total amount of available local liabilities funding local country exposure was $16.8 billion and $18.7 billion at March 31, 2012 and December 31, 2011. Local liabilities at March 31, 2012 in Asia Pacific, Latin America, and Middle East and Africa were $15.7 billion, $851 million and $284 million, respectively, of which $7.0 billion was in Singapore, $2.1 billion in China, $2.0 billion in both Hong Kong and India, $747 million in Mexico, $654 million in Korea, $545 million in Thailand, $525 million in Taiwan and $501 million in Malaysia. There were no other countries with available local liabilities funding localcountry exposure greater than $500 million.

⁽⁷⁾  Securities/other investments includes investment of $716 million in China Construction Bank.

⁽⁸⁾  No country included in the Other Asia Pacific, Other Latin America, Other Middle East and Africa, and Other Central and Eastern Europe had total non-U.S. exposure of more than $500 million.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 36

Bank of America Corporation and Subsidiaries
Selected European Countries
(Dollars in millions)	Funded Loans and Loan Equivalents (1)		Unfunded Loan Commitments		Net Counterparty Exposure (2)		Securities/ Other Investments (3)		Country Exposure at March 31, 2012		Hedges and Credit Default Protection (4)			Net Country Exposure at March 31, 2012 (5)			Increase (Decrease) from December 31, 2011
Greece
Sovereign	$	—	$	—	$	—	$	—	$	—	$	(1	)	$	(1	)	$	(30	)
Financial Institutions	1		—		6		13		20		(5		)	15			18
Corporates	334		107		31		1		473		(11		)	462			28
Total Greece	$	335	$	107	$	37	$	14	$	493	$	(17	)	$	476		$	16
Ireland
Sovereign	$	18	$	—	$	11	$	16	$	45	$	—		$	45		$	(76	)
Financial Institutions	126		20		250		471		867		(8		)	859			61
Corporates	1,000		170		23		27		1,220		(31		)	1,189			(306		)
Total Ireland	$	1,144	$	190	$	284	$	514	$	2,132	$	(39	)	$	2,093		$	(321	)
Italy
Sovereign	$	—	$	—	$	1,680	$	643	$	2,323	$	(1,208	)	$	1,115		$	901
Financial Institutions	1,878		153		126		44		2,201		(803		)	1,398			(333		)
Corporates	1,818		1,881		229		230		4,158		(1,663		)	2,495			(415		)
Total Italy	$	3,696	$	2,034	$	2,035	$	917	$	8,682	$	(3,674	)	$	5,008		$	153
Portugal
Sovereign	$	—	$	—	$	38	$	—	$	38	$	(40	)	$	(2	)	$	7
Financial Institutions	16		—		17		30		63		(106		)	(43		)	(47		)
Corporates	175		75		14		11		275		(154		)	121			60
Total Portugal	$	191	$	75	$	69	$	41	$	376	$	(300	)	$	76		$	20
Spain
Sovereign	$	38	$	6	$	61	$	5	$	110	$	(252	)	$	(142	)	$	(149	)
Financial Institutions	475		7		98		126		706		(107		)	599			(63		)
Corporates	1,459		880		121		92		2,552		(910		)	1,642			(227		)
Total Spain	$	1,972	$	893	$	280	$	223	$	3,368	$	(1,269	)	$	2,099		$	(439	)
Total
Sovereign	$	56	$	6	$	1,790	$	664	$	2,516	$	(1,501	)	$	1,015		$	653
Financial Institutions	2,496		180		497		684		3,857		(1,029		)	2,828			(364		)
Corporates	4,786		3,113		418		361		8,678		(2,769		)	5,909			(860		)
Total selected European exposure	$	7,338	$	3,299	$	2,705	$	1,709	$	15,051	$	(5,299	)	$	9,752		$	(571	)

⁽¹⁾  Includes loans, leases, overdrafts, acceptances, due froms, standby letters of credit, commercial letters of credit and formal guarantees, which have not been reduced by collateral, hedges or credit default protection.

⁽²⁾  Net counterparty exposure includes the fair value of derivatives and secured financing transactions, which have been reduced by all eligible collateral, predominantly in cash, pledged under legally enforceable netting agreements. The notional value of the repurchase transactions was $409 million at March 31, 2012. Counterparty exposure has not been reduced by hedges or credit default protection.

⁽³⁾  Securities exposures are reduced by hedges and short positions on a single-name basis to but not below zero.

⁽⁴⁾  Represents unapplied net credit default protection purchased, including $(3.6) billion in net credit default protection purchased to hedge loans and securities, $(1.5) billion in additional credit default protection to hedge derivative assets and $(168) million in other short positions. Based on the credit default protection notional amount assuming zero recovery adjusted for any fair value receivable or payable.

⁽⁵⁾  Represents country exposure less the fair value of hedges and credit default protection.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 37

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	March 31 2012			December 31 2011			September 30 2011			June 30 2011			March 31 2011
Residential mortgage	$	15,049		$	15,970		$	16,430		$	16,726		$	17,466
Home equity (1)	4,360			2,453			2,333			2,345			2,559
Discontinued real estate	269			290			308			324			327
Direct/Indirect consumer	41			40			52			58			68
Other consumer	5			15			24			25			36
Total consumer	19,724			18,768			19,147			19,478			20,456
U.S. commercial	2,048			2,174			2,518			2,767			3,056
Commercial real estate	3,404			3,880			4,474			5,051			5,695
Commercial lease financing	38			26			23			23			53
Non-U.S. commercial	140			143			145			108			155
	5,630			6,223			7,160			7,949			8,959
U.S. small business commercial	121			114			139			156			172
Total commercial	5,751			6,337			7,299			8,105			9,131
Total nonperforming loans and leases	25,475			25,105			26,446			27,583			29,587
Foreclosed properties	2,315			2,603			2,613			2,475			2,056
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	27,790		$	27,708		$	29,059		$	30,058		$	31,643
Fully-insured home loans past due 90 days or more and still accruing	$	21,176		$	21,164		$	20,299		$	20,047		$	19,754
Consumer credit card past due 90 days or more and still accruing	2,160			2,412			2,544			3,020			3,570
Other loans past due 90 days or more and still accruing	984			1,060			1,163			1,223			1,559
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	24,320		$	24,636		$	24,006		$	24,290		$	24,883
Nonperforming loans, leases and foreclosed properties/Total assets (7)	1.28		%	1.31		%	1.32		%	1.33		%	1.39		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)	3.10			3.01			3.15			3.22			3.40
Nonperforming loans and leases/Total loans and leases (7)	2.85			2.74			2.87			2.96			3.19
Commercial utilized reservable criticized exposure (8)	$	24,457		$	27,247		$	30,901		$	35,110		$	39,435
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (8)	6.77		%	7.41		%	8.51		%	9.73		%	10.94		%
Total commercial utilized criticized exposure/Commercial utilized exposure (8)	6.86			7.47			8.35			10.80			11.73

⁽¹⁾  During the first quarter of 2012, the bank regulatory agencies jointly issued interagency supervisory guidance on nonaccrual policies for junior-lien consumer real estate loans. In accordance with this new regulatory interagency guidance, beginning in the first quarter of 2012, we classify junior-lien home equity loans as nonperforming when the first-lien loan becomes 90 days past due even if the junior-lien loan is performing. As a result of this change, we reclassified $1.9 billion of performing home equity loans to nonperforming. Prior period amounts have not been restated.

⁽²⁾  Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.

⁽³⁾  Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

(4) Balances do not include the following:	March 31 2012		December 31 2011		September 30 2011		June 30 2011		March 31 2011
Nonperforming loans held-for-sale	$	1,658	$	1,730	$	1,750	$	2,059	$	2,421
Nonperforming loans accounted for under the fair value option	798		786		2,032		2,389		15
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	459		477		474		465		456

⁽⁵⁾  Balances do not include loans held-for-sale past due 90 days or more and still accruing of $88 million, $41 million, $67 million, $19 million and $48 million at March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011, respectively. At March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011, there were no loans accounted for under the fair value option past due 90 days or more and still accruing interest.

⁽⁶⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁷⁾ Total assets and total loans and leases do not include loans accounted for under the fair value option of $9.2 billion, $8.8 billion, $11.2 billion, $9.6 billion and $3.7 billion at March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011, respectively.

⁽⁸⁾ Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 38

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Nonperforming Consumer Loans:
Balance, beginning of period	$	18,768		$	19,147		$	19,478		$	20,456		$	20,854
Additions to nonperforming loans:
New nonperforming loans	3,308			3,757			4,036			3,803			4,127
Impact of new regulatory interagency guidance (2)	1,853			—			—			—			—
Reductions in nonperforming loans:
Paydowns and payoffs	(1,153		)	(803		)	(944		)	(792		)	(779		)
Returns to performing status (3)	(913		)	(1,018		)	(1,072		)	(1,311		)	(1,340		)
Charge-offs (4)	(1,737		)	(1,833		)	(1,972		)	(2,270		)	(2,020		)
Transfers to foreclosed properties	(402		)	(482		)	(379		)	(408		)	(386		)
Total net additions/(reductions) to nonperforming loans	956			(379		)	(331		)	(978		)	(398		)
Total nonperforming consumer loans, end of period	19,724			18,768			19,147			19,478			20,456
Foreclosed properties	1,805			1,991			1,892			1,797			1,331
Total nonperforming consumer loans and foreclosed properties, end of period	$	21,529		$	20,759		$	21,039		$	21,275		$	21,787
Nonperforming Commercial Loans and Leases (5):
Balance, beginning of period	$	6,337		$	7,299		$	8,105		$	9,131		$	9,836
Additions to nonperforming loans and leases:
New nonperforming loans and leases	599			1,084			1,231			1,042			1,299
Advances	24			20			18			52			67
Reductions in nonperforming loans and leases:
Paydowns and payoffs	(573		)	(949		)	(721		)	(1,023		)	(764		)
Sales	(137		)	(211		)	(554		)	(141		)	(247		)
Return to performing status (6)	(145		)	(358		)	(143		)	(362		)	(320		)
Charge-offs (7)	(291		)	(386		)	(412		)	(290		)	(488		)
Transfers to foreclosed properties	(63		)	(128		)	(205		)	(241		)	(200		)
Transfers to loans held-for-sale	—			(34		)	(20		)	(63		)	(52		)
Total net reductions in nonperforming loans and leases	(586		)	(962		)	(806		)	(1,026		)	(705		)
Total nonperforming commercial loans and leases, end of period	5,751			6,337			7,299			8,105			9,131
Foreclosed properties	510			612			721			678			725
Total nonperforming commercial loans, leases and foreclosed properties, end of period	$	6,261		$	6,949		$	8,020		$	8,783		$	9,856

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 38.

⁽²⁾  During the first quarter of 2012, the bank regulatory agencies jointly issued interagency supervisory guidance on nonaccrual policies for junior-lien consumer real estate loans. In accordance with this new regulatory interagency guidance, beginning in the first quarter of 2012, we classify junior-lien home equity loans as nonperforming when the first-lien loan becomes 90 days past due even if the junior-lien loan is performing. As a result of this change, we reclassified $1.9 billion of performing home equity loans to nonperforming. Prior period amounts have not been restated.

⁽³⁾ Consumer loans may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Certain troubled debt restructurings are classified as nonperforming at the time of restructure and may only be returned to performing status after considering the borrower’s sustained repayment performance for a reasonable period, generally six months.

⁽⁴⁾   Our policy is not to classify consumer credit card and consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and accordingly, are excluded from this table.

⁽⁵⁾ Includes U.S. small business commercial activity.

⁽⁶⁾ Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

⁽⁷⁾ Business card loans are not classified as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and accordingly are excluded from this table.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 39

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	First Quarter 2012					Fourth Quarter 2011					Third Quarter 2011					Second Quarter 2011					First Quarter 2011
Net Charge-offs	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	898		1.39	%	$	834		1.25	%	$	989		1.47	%	$	1,104		1.67	%	$	905		1.40	%
Home equity	957			3.13		939			2.95		1,092			3.35		1,263			3.84		1,179			3.51
Discontinued real estate	16			0.59		22			0.76		24			0.80		26			0.84		20			0.61
U.S. credit card	1,331			5.44		1,432			5.55		1,639			6.28		1,931			7.29		2,274			8.39
Non-U.S. credit card	203			5.78		(36		)	(0.89	)	374			5.83		429			6.31		402			5.91
Direct/Indirect consumer	226			1.03		284			1.24		301			1.32		366			1.64		525			2.36
Other consumer	56			8.59		63			9.04		56			7.81		43			6.44		40			5.93
Total consumer	3,687			2.48		3,538			2.28		4,475			2.82		5,162			3.27		5,345			3.38
U.S. Commercial (2)	66			0.15		78			0.17		78			0.18		60			0.14		(21		)	(0.05	)
Commercial real estate	132			1.36		200			1.95		296			2.73		163			1.43		288			2.42
Commercial lease financing	(9		)	(0.16	)	32			0.59		(1		)	(0.01	)	(8		)	(0.15	)	1			0.02
Non-U.S. commercial	(5		)	(0.04	)	18			0.15		18			0.15		13			0.13		103			1.22
	184			0.25		328			0.44		391			0.54		228			0.32		371			0.54
U.S. small business commercial	185			5.63		188			5.55		220			6.36		275			7.78		312			8.68
Total commercial	369			0.48		516			0.66		611			0.81		503			0.68		683			0.94
Total net charge-offs	$	4,056		1.80		$	4,054		1.74		$	5,086		2.17		$	5,665		2.44		$	6,028		2.61
By Business Segment
Consumer & Business Banking	$	1,766		5.02	%	$	1,925		5.19	%	$	2,179		5.71	%	$	2,598		6.72	%	$	3,066		7.72	%
Consumer Real Estate Services	915			3.39		894			3.14		1,036			3.58		1,213			4.16		1,114			3.75
Global Banking	171			0.25		304			0.45		374			0.56		184			0.29		396			0.63
Global Markets	7			0.17		10			0.26		—			—		—			—		(1		)	(0.03	)
Global Wealth & Investment Management	93			0.36		113			0.44		135			0.52		129			0.50		88			0.36
All Other	1,104			1.68		808			1.17		1,362			1.89		1,541			2.15		1,365			1.92
Total net charge-offs	$	4,056		1.80		$	4,054		1.74		$	5,086		2.17		$	5,665		2.44		$	6,028		2.61

⁽¹⁾  Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category.

⁽²⁾  Excludes U.S. small business commercial loans.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 40

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	March 31, 2012						December 31, 2011						March 31, 2011
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding (1)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1)
Residential mortgage	$	6,141	19.06	%	2.39	%	$	5,935	17.57	%	2.26	%	$	5,369	13.48	%	2.05	%
Home equity	12,701		39.43		10.48		13,094		38.76		10.50		12,857		32.27		9.62
Discontinued real estate	2,131		6.62		20.39		2,050		6.07		18.48		1,871		4.69		14.74
U.S. credit card	5,680		17.63		5.89		6,322		18.71		6.18		9,100		22.84		8.50
Non-U.S.credit card	828		2.57		5.95		946		2.80		6.56		2,069		5.19		7.60
Direct/Indirect consumer	1,001		3.11		1.16		1,153		3.41		1.29		1,939		4.87		2.17
Other consumer	155		0.48		5.96		148		0.44		5.50		163		0.41		5.92
Total consumer	28,637		88.90		4.88		29,648		87.76		4.88		33,368		83.75		5.26
U.S. commercial (2)	2,098		6.51		1.08		2,441		7.23		1.26		3,156		7.92		1.67
Commercial real estate	1,166		3.62		3.06		1,349		3.99		3.41		2,904		7.29		6.18
Commercial lease financing	79		0.25		0.37		92		0.27		0.42		124		0.31		0.57
Non-U.S.commercial	231		0.72		0.44		253		0.75		0.46		291		0.73		0.79
Total commercial (3)	3,574		11.10		1.17		4,135		12.24		1.33		6,475		16.25		2.20
Allowance for loan and lease losses	32,211		100.00	%	3.61		33,783		100.00	%	3.68		39,843		100.00	%	4.29
Reserve for unfunded lending commitments	651						714						961
Allowance for credit losses	$	32,862					$	34,497					$	40,804
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (5)			3.61	%					3.68	%					4.29	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) (4, 5)			2.70						2.86						3.58
Allowance for loan and lease losses/Total nonperforming loans and leases (6)			126						135						135
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (4)			91						101						108
Allowance for loan and lease losses/Annualized net charge-offs (7)			1.97						2.10						1.63
Allowance for loan and lease losses (excluding purchased credit-impaired loans)/Annualized net charge-offs (4, 7)			1.43						1.57						1.31

⁽¹⁾  Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option includes residential mortgage loans of $881 million, $906 million and $0, and discontinued real estate loans of $1.3 billion, $1.3 billion and $0 at March 31, 2012, December 31, 2011 and March 31, 2011, respectively. Commercial loans accounted for under the fair value option includes U.S. commercial loans of $2.2 billion, $2.2 billion and $1.4 billion, non-U.S. commercial loans of $4.8 billion, $4.4 billion and $2.3 billion, and commercial real estate loans of $0, $0 and $68 million at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽²⁾  Includes allowance for U.S. small business commercial loans of $811 million, $893 million and $1.3 billion at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽³⁾  Includes allowance for loan and lease losses for impaired commercial loans of $465 million, $545 million and $996 million at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽⁴⁾  Excludes valuation allowance on Countrywide purchased credit-impaired loans of $8.9 billion, $8.5 billion and $8.0 billion at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽⁵⁾  Total loans and leases do not include loans accounted for under the fair value option of $9.2 billion, $8.8 billion and $3.7 billion at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽⁶⁾  Allowance for loan and lease losses includes $17.0 billion, $17.5 billion and $22.1 billion allocated to products (primarily the Card Services portfolios within Consumer & Business Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at March 31, 2012, December 31, 2011 and March 31, 2011, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 60 percent, 65 percent and 60 percent at March 31, 2012, December 31, 2011 and March 31, 2011, respectively.

⁽⁷⁾  Excluding recoveries related to the bulk sale of previously charged-off U.K. credit card loans and home equity lien protection insurance, the ratio of the allowance for loan and lease losses to annualized net charge-offs would have been 1.92 and 1.44 (excluding purchased credit-impaired loans) for the quarter ended December 31, 2011.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 41

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield evaluates the basis points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that utilize tangible equity, a non-GAAP financial measure. Return on average tangible common shareholders’ equity measures the Corporation’s earnings contribution as a percentage of average common shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of average shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible common equity ratio represents ending common shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio represents total ending shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents ending common shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity (i.e., capital). In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

In addition, the Corporation evaluates its business segment results based on return on average economic capital, a non-GAAP financial measure. Return on average economic capital for the segments is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents average allocated equity less goodwill and a percentage of intangible assets. It also believes the use of this non-GAAP financial measure provides additional clarity in assessing the segments.

In certain presentations, earnings and diluted earnings per common share, the efficiency ratio, return on average assets, return on common shareholders’ equity, return on average tangible common shareholders’ equity and return on average tangible shareholders’ equity are calculated excluding the impact of goodwill impairment charges of $581 million and $2.6 billion recorded in the fourth and second quarters of 2011. Accordingly, these are non-GAAP financial measures.

See the tables below and on pages 43-45 for reconciliations of these non-GAAP financial measures with financial measures defined by GAAP for the three months ended March 31, 2012, December 31, 2011, September 30, 2011, June 30, 2011 and March 31, 2011. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.

	First Quarter 2012		Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011			First Quarter 2011
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	10,846	$	10,701		$	10,490	$	11,246		$	12,179
Fully taxable-equivalent adjustment	207		258			249		247			218
Net interest income on a fully taxable-equivalent basis	$	11,053	$	10,959		$	10,739	$	11,493		$	12,397
Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	22,278	$	24,888		$	28,453	$	13,236		$	26,877
Fully taxable-equivalent adjustment	207		258			249		247			218
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	22,485	$	25,146		$	28,702	$	13,483		$	27,095
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges
Total noninterest expense	$	19,141	$	19,522		$	17,613	$	22,856		$	20,283
Goodwill impairment charges	—		(581		)	—		(2,603		)	—
Total noninterest expense, excluding goodwill impairment charges	$	19,141	$	18,941		$	17,613	$	20,253		$	20,283
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	66	$	441		$	1,201	$	(4,049	)	$	731
Fully taxable-equivalent adjustment	207		258			249		247			218
Income tax expense (benefit) on a fully taxable-equivalent basis	$	273	$	699		$	1,450	$	(3,802	)	$	949
Reconciliation of net income (loss) to net income (loss), excluding goodwill impairment charges
Net income (loss)	$	653	$	1,991		$	6,232	$	(8,826	)	$	2,049
Goodwill impairment charges	—		581			—		2,603			—
Net income (loss), excluding goodwill impairment charges	$	653	$	2,572		$	6,232	$	(6,223	)	$	2,049
Reconciliation of net income (loss) applicable to common shareholders to net income (loss) applicable to common shareholders, excluding goodwill impairment charges
Net income (loss) applicable to common shareholders	$	328	$	1,584		$	5,889	$	(9,127	)	$	1,739
Goodwill impairment charges	—		581			—		2,603			—
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges	$	328	$	2,165		$	5,889	$	(6,524	)	$	1,739

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 42

Exhibit A: Non-GAAP Reconciliations (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	214,150		$	209,324		$	204,928		$	218,505		$	214,206
Goodwill	(69,967		)	(70,647		)	(71,070		)	(73,748		)	(73,922		)
Intangible assets (excluding mortgage servicing rights)	(7,869		)	(8,566		)	(9,005		)	(9,394		)	(9,769		)
Related deferred tax liabilities	2,700			2,775			2,852			2,932			3,035
Tangible common shareholders’ equity	$	139,014		$	132,886		$	127,705		$	138,295		$	133,550
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	232,566		$	228,235		$	222,410		$	235,067		$	230,769
Goodwill	(69,967		)	(70,647		)	(71,070		)	(73,748		)	(73,922		)
Intangible assets (excluding mortgage servicing rights)	(7,869		)	(8,566		)	(9,005		)	(9,394		)	(9,769		)
Related deferred tax liabilities	2,700			2,775			2,852			2,932			3,035
Tangible shareholders’ equity	$	157,430		$	151,797		$	145,187		$	154,857		$	150,113
Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
Common shareholders’ equity	$	213,711		$	211,704		$	210,772		$	205,614		$	214,314
Goodwill	(69,976		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)
Intangible assets (excluding mortgage servicing rights)	(7,696		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)
Related deferred tax liabilities	2,628			2,702			2,777			2,853			2,933
Tangible common shareholders’ equity	$	138,667		$	136,418		$	133,953		$	128,217		$	133,818
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
Shareholders’ equity	$	232,499		$	230,101		$	230,252		$	222,176		$	230,876
Goodwill	(69,976		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)
Intangible assets (excluding mortgage servicing rights)	(7,696		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)
Related deferred tax liabilities	2,628			2,702			2,777			2,853			2,933
Tangible shareholders’ equity	$	157,455		$	154,815		$	153,433		$	144,779		$	150,380
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,181,449		$	2,129,046		$	2,219,628		$	2,261,319		$	2,274,532
Goodwill	(69,976		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)
Intangible assets (excluding mortgage servicing rights)	(7,696		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)
Related deferred tax liabilities	2,628			2,702			2,777			2,853			2,933
Tangible assets	$	2,106,405		$	2,053,760		$	2,142,809		$	2,183,922		$	2,194,036

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 43

Exhibit A: Non-GAAP Reconciliations (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Reconciliation of return on average economic capital
Consumer & Business Banking
Reported net income	$	1,454		$	1,243		$	1,666		$	2,502		$	2,041
Adjustment related to intangibles (1)	3			5			6			2			7
Adjusted net income	$	1,457		$	1,248		$	1,672		$	2,504		$	2,048
Average allocated equity	$	52,947		$	53,005		$	52,382		$	52,559		$	53,700
Adjustment related to goodwill and a percentage of intangibles	(30,523		)	(30,587		)	(30,601		)	(30,655		)	(30,698		)
Average economic capital	$	22,424		$	22,418		$	21,781		$	21,904		$	23,002
Consumer Real Estate Services
Reported net loss	$	(1,145	)	$	(1,444	)	$	(1,123	)	$	(14,506	)	$	(2,400	)
Adjustment related to intangibles (1)	—			—			—			—			—
Goodwill impairment charge	—			—			—			2,603			—
Adjusted net loss	$	(1,145	)	$	(1,444	)	$	(1,123	)	$	(11,903	)	$	(2,400	)
Average allocated equity	$	14,791		$	14,757		$	14,240		$	17,139		$	18,736
Adjustment related to goodwill and a percentage of intangibles (excluding mortgage servicing rights)	—			—			—			(2,702		)	(2,742		)
Average economic capital	$	14,791		$	14,757		$	14,240		$	14,437		$	15,994
Global Banking
Reported net income	$	1,590		$	1,337		$	1,205		$	1,921		$	1,584
Adjustment related to intangibles (1)	1			1			2			1			2
Adjusted net income	$	1,591		$	1,338		$	1,207		$	1,922		$	1,586
Average allocated equity	$	46,393		$	46,762		$	48,356		$	47,735		$	49,407
Adjustment related to goodwill and a percentage of intangibles	(25,536		)	(25,575		)	(25,399		)	(25,104		)	(25,108		)
Average economic capital	$	20,857		$	21,187		$	22,957		$	22,631		$	24,299
Global Markets
Reported net income (loss)	$	798		$	(768	)	$	(552	)	$	911		$	1,394
Adjustment related to intangibles (1)	2			3			3			3			3
Adjusted net income (loss)	$	800		$	(765	)	$	(549	)	$	914		$	1,397
Average allocated equity	$	17,642		$	19,130		$	20,934		$	22,315		$	25,687
Adjustment related to goodwill and a percentage of intangibles	(3,973		)	(3,976		)	(3,980		)	(3,970		)	(3,873		)
Average economic capital	$	13,669		$	15,154		$	16,954		$	18,345		$	21,814
Global Wealth & Investment Management
Reported net income	$	547		$	259		$	358		$	513		$	542
Adjustment related to intangibles (1)	6			7			7			7			9
Adjusted net income	$	553		$	266		$	365		$	520		$	551
Average allocated equity	$	17,228		$	17,845		$	17,826		$	17,560		$	17,932
Adjustment related to goodwill and a percentage of intangibles	(10,641		)	(10,663		)	(10,691		)	(10,706		)	(10,728		)
Average economic capital	$	6,587		$	7,182		$	7,135		$	6,854		$	7,204

For footnote see page 45.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 44

Exhibit A: Non-GAAP Reconciliations (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2012			Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011
Consumer & Business Banking
Deposits
Reported net income	$	310		$	149		$	285		$	432		$	361
Adjustment related to intangibles (1)	—			1			1			—			1
Adjusted net income	$	310		$	150		$	286		$	432		$	362
Average allocated equity	$	23,194		$	23,862		$	23,820		$	23,612		$	23,641
Adjustment related to goodwill and a percentage of intangibles	(17,932		)	(17,939		)	(17,947		)	(17,950		)	(17,958		)
Average economic capital	$	5,262		$	5,923		$	5,873		$	5,662		$	5,683
Card Services
Reported net income	$	1,038		$	1,029		$	1,267		$	1,944		$	1,571
Adjustment related to intangibles (1)	3			4			5			2			6
Adjusted net income	$	1,041		$	1,033		$	1,272		$	1,946		$	1,577
Average allocated equity	$	20,671		$	20,610		$	20,755		$	21,016		$	22,149
Adjustment related to goodwill and a percentage of intangibles	(10,492		)	(10,549		)	(10,561		)	(10,607		)	(10,640		)
Average economic capital	$	10,179		$	10,061		$	10,194		$	10,409		$	11,509
Business Banking
Reported net income	$	106		$	65		$	114		$	126		$	109
Adjustment related to intangibles (1)	—			—			—			—			—
Adjusted net income	$	106		$	65		$	114		$	126		$	109
Average allocated equity	$	9,082		$	8,533		$	7,807		$	7,931		$	7,910
Adjustment related to goodwill and a percentage of intangibles	(2,099		)	(2,099		)	(2,093		)	(2,098		)	(2,100		)
Average economic capital	$	6,983		$	6,434		$	5,714		$	5,833		$	5,810

⁽¹⁾  Represents cost of funds, earnings credits and certain expenses related to intangibles.

Certain prior period amounts have been reclassified to conform to current period presentation.

This information is preliminary and based on company data available at the time of the presentation. 45