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

Supplemental Information

First Quarter 2015

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
Regulatory Capital Reconciliations	9
Net Interest Income Excluding Trading-related Net Interest Income	10
Quarterly Average Balances and Interest Rates	11
Debt Securities and Available-for-Sale Marketable Equity Securities	13
Quarterly Results by Business Segment	14
Consumer Banking
Total Segment Results	16
Business Results	17
Key Indicators	19
Global Wealth & Investment Management
Total Segment Results	21
Key Indicators	22
Global Banking
Total Segment Results	23
Key Indicators	24
Investment Banking Product Rankings	25
Global Markets
Total Segment Results	26
Key Indicators	27
Legacy Assets & Servicing
Total Segment Results	28
Key Indicators	29
All Other
Total 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
Top 20 Non-U.S. Countries Exposure	36
Nonperforming Loans, Leases and Foreclosed Properties	37
Nonperforming Loans, Leases and Foreclosed Properties Activity	38
Quarterly Net Charge-offs and Net Charge-off Ratios	39
Allocation of the Allowance for Credit Losses by Product Type	40
Exhibit A: Non-GAAP Reconciliations	41

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Income statement
Net interest income	$	9,451		$	9,635		$	10,219		$	10,013		$	10,085
Noninterest income	11,751			9,090			10,990			11,734			12,481
Total revenue, net of interest expense	21,202			18,725			21,209			21,747			22,566
Provision for credit losses	765			219			636			411			1,009
Noninterest expense	15,695			14,196			20,142			18,541			22,238
Income tax expense (benefit)	1,385			1,260			663			504			(405		)
Net income (loss)	3,357			3,050			(232		)	2,291			(276		)
Preferred stock dividends	382			312			238			256			238
Net income (loss) applicable to common shareholders	2,975			2,738			(470		)	2,035			(514		)
Diluted earnings (loss) per common share (1)	0.27			0.25			(0.04		)	0.19			(0.05		)
Average diluted common shares issued and outstanding (1)	11,266,511			11,273,773			10,515,790			11,265,123			10,560,518
Dividends paid per common share	$	0.05		$	0.05		$	0.05		$	0.01		$	0.01
Performance ratios
Return on average assets	0.64		%	0.57		%	n/m			0.42		%	n/m
Return on average common shareholders' equity	5.35			4.84			n/m			3.68			n/m
Return on average tangible common shareholders' equity (2)	7.88			7.15			n/m			5.47			n/m
Return on average tangible shareholders' equity (2)	7.85			7.08			n/m			5.64			n/m
At period end
Book value per share of common stock	$	21.66		$	21.32		$	20.99		$	21.16		$	20.75
Tangible book value per share of common stock (2)	14.79			14.43			14.09			14.24			13.81
Market price per share of common stock:
Closing price	$	15.39		$	17.89		$	17.05		$	15.37		$	17.20
High closing price for the period	17.90			18.13			17.18			17.34			17.92
Low closing price for the period	15.15			15.76			14.98			14.51			16.10
Market capitalization	161,909			188,141			179,296			161,628			181,117
Number of financial centers - U.S.	4,835			4,855			4,947			5,023			5,095
Number of branded ATMs - U.S.	15,915			15,838			15,675			15,976			16,214
Full-time equivalent employees	219,658			223,715			229,538			233,201			238,560

⁽¹⁾  The diluted earnings (loss) per common share excludes the effect of any equity instruments that are antidilutive to earnings per share. There were no potential common shares that were dilutive in the third and first quarters of 2014 because of the net loss applicable to common shareholders.

⁽²⁾  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 41-44.)

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)
Fully taxable-equivalent (FTE) basis data(1)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income	$	9,670		$	9,865		$	10,444		$	10,226		$	10,286
Total revenue, net of interest expense	21,421			18,955			21,434			21,960			22,767
Net interest yield	2.17		%	2.18		%	2.29		%	2.22		%	2.29		%
Efficiency ratio	73.27			74.90			93.97			84.43			97.68

⁽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 41-44.)

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 2015		Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014		First Quarter 2014
Interest income
Loans and leases	$	8,036	$	8,377		$	8,535		$	8,635	$	8,760
Debt securities	1,887		1,675			2,225			2,124		1,997
Federal funds sold and securities borrowed or purchased under agreements to resell	231		238			239			297		265
Trading account assets	1,083		1,098			1,111			1,175		1,177
Other interest income	726		764			748			710		736
Total interest income	11,963		12,152			12,858			12,941		12,935
Interest expense
Deposits	220		237			270			282		291
Short-term borrowings	606		615			591			763		609
Trading account liabilities	373		351			392			398		435
Long-term debt	1,313		1,314			1,386			1,485		1,515
Total interest expense	2,512		2,517			2,639			2,928		2,850
Net interest income	9,451		9,635			10,219			10,013		10,085
Noninterest income
Card income	1,394		1,610			1,500			1,441		1,393
Service charges	1,764		1,844			1,907			1,866		1,826
Investment and brokerage services	3,378		3,397			3,327			3,291		3,269
Investment banking income	1,487		1,541			1,351			1,631		1,542
Equity investment income (loss)	27		(20		)	9			357		784
Trading account profits	2,247		111			1,899			1,832		2,467
Mortgage banking income	694		352			272			527		412
Gains on sales of debt securities	268		163			432			382		377
Other income	492		92			293			407		411
Total noninterest income	11,751		9,090			10,990			11,734		12,481
Total revenue, net of interest expense	21,202		18,725			21,209			21,747		22,566
Provision for credit losses	765		219			636			411		1,009
Noninterest expense
Personnel	9,614		7,693			8,039			8,306		9,749
Occupancy	1,027		996			1,070			1,079		1,115
Equipment	512		531			514			534		546
Marketing	440		491			446			450		442
Professional fees	421		677			611			626		558
Amortization of intangibles	213		228			234			235		239
Data processing	852		796			754			761		833
Telecommunications	171		254			311			324		370
Other general operating	2,445		2,530			8,163			6,226		8,386
Total noninterest expense	15,695		14,196			20,142			18,541		22,238
Income (loss) before income taxes	4,742		4,310			431			2,795		(681		)
Income tax expense (benefit)	1,385		1,260			663			504		(405		)
Net income (loss)	$	3,357	$	3,050		$	(232	)	$	2,291	$	(276	)
Preferred stock dividends	382		312			238			256		238
Net income (loss) applicable to common shareholders	$	2,975	$	2,738		$	(470	)	$	2,035	$	(514	)
Per common share information
Earnings (loss)	$	0.28	$	0.26		$	(0.04	)	$	0.19	$	(0.05	)
Diluted earnings (loss) (1)	0.27		0.25			(0.04		)	0.19		(0.05		)
Dividends paid	0.05		0.05			0.05			0.01		0.01
Average common shares issued and outstanding	10,518,790		10,516,334			10,515,790			10,519,359		10,560,518
Average diluted common shares issued and outstanding (1)	11,266,511		11,273,773			10,515,790			11,265,123		10,560,518

⁽¹⁾  The diluted earnings (loss) per common share excludes the effect of any equity instruments that are antidilutive to earnings per share. There were no potential common shares that were dilutive in the third and first quarters of 2014 because of the net loss applicable to common shareholders.

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 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014		First Quarter 2014
Net income (loss)	$	3,357		$	3,050		$	(232	)	$	2,291	$	(276	)
Other comprehensive income (loss), net-of-tax:
Net change in available-for-sale debt and marketable equity securities	1,336			2,021			(994		)	2,305		1,289
Net change in derivatives	43			205			196			7		208
Employee benefit plan adjustments	25			(1,007		)	8			7		49
Net change in foreign currency translation adjustments	(51		)	(24		)	(14		)	7		(126		)
Other comprehensive income (loss)	1,353			1,195			(804		)	2,326		1,420
Comprehensive income (loss)	$	4,710		$	4,245		$	(1,036	)	$	4,617	$	1,144

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 2015			December 31 2014			March 31 2014
Assets
Cash and due from banks	$	30,106		$	33,118		$	31,099
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	132,437			105,471			120,546
Cash and cash equivalents	162,543			138,589			151,645
Time deposits placed and other short-term investments	7,418			7,510			12,793
Federal funds sold and securities borrowed or purchased under agreements to resell	206,708			191,823			215,299
Trading account assets	186,860			191,785			195,949
Derivative assets	61,331			52,682			45,302
Debt securities:
Carried at fair value	324,174			320,695			285,576
Held-to-maturity, at cost	59,815			59,766			55,120
Total debt securities	383,989			380,461			340,696
Loans and leases	877,956			881,391			916,217
Allowance for loan and lease losses	(13,676		)	(14,419		)	(16,618		)
Loans and leases, net of allowance	864,280			866,972			899,599
Premises and equipment, net	9,833			10,049			10,351
Mortgage servicing rights	3,394			3,530			4,765
Goodwill	69,776			69,777			69,842
Intangible assets	4,391			4,612			5,337
Loans held-for-sale	9,732			12,836			12,317
Customer and other receivables	63,716			61,845			64,135
Other assets	109,574			112,063			121,821
Total assets	$	2,143,545		$	2,104,534		$	2,149,851
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	5,182		$	6,890		$	8,052
Derivative assets	5			6			23
Loans and leases	89,771			95,187			104,556
Allowance for loan and lease losses	(1,869		)	(1,968		)	(2,614		)
Loans and leases, net of allowance	87,902			93,219			101,942
Loans held-for-sale	1,226			1,822			1,294
All other assets	2,948			2,763			3,970
Total assets of consolidated variable interest entities	$	97,263		$	104,700		$	115,281

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 2015			December 31 2014			March 31 2014
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	412,902		$	393,102		$	376,613
Interest-bearing	673,431			660,161			676,328
Deposits in non-U.S. offices:
Noninterest-bearing	8,473			7,230			7,633
Interest-bearing	58,362			58,443			73,076
Total deposits	1,153,168			1,118,936			1,133,650
Federal funds purchased and securities loaned or sold under agreements to repurchase	203,758			201,277			203,108
Trading account liabilities	74,791			74,192			89,076
Derivative liabilities	52,234			46,909			36,911
Short-term borrowings	33,270			31,172			51,409
Accrued expenses and other liabilities (includes $537, $528 and $509 of reserve for unfunded lending commitments)	138,278			145,438			149,024
Long-term debt	237,858			243,139			254,785
Total liabilities	1,893,357			1,861,063			1,917,963
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,767,790, 3,647,790 and 3,407,790shares	22,273			19,309			13,352
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,520,400,507, 10,516,542,476 and 10,530,045,485 shares	153,410			153,458			153,696
Retained earnings	77,472			75,024			71,877
Accumulated other comprehensive income (loss)	(2,967		)	(4,320		)	(7,037		)
Total shareholders' equity	250,188			243,471			231,888
Total liabilities and shareholders' equity	$	2,143,545		$	2,104,534		$	2,149,851
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	630		$	1,032		$	1,176
Long-term debt	13,942			13,307			18,338
All other liabilities	123			138			179
Total liabilities of consolidated variable interest entities	$	14,695		$	14,477		$	19,693

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)
	Basel 3 Standardized Transition
	March 31 2015			December 31 2014			September 30 2014			June 30 2014			March 31 2014
Risk-based capital metrics (1, 2):
Common equity tier 1 capital	$	155,438		$	155,361		$	152,444		$	153,582		$	150,922
Tier 1 capital	173,155			168,973			163,040			160,760			152,936
Total capital	214,481			208,670			200,759			197,028			190,124
Risk-weighted assets	1,402,309			1,261,544			1,271,723			1,284,924			1,282,117
Common equity tier 1 capital ratio	11.1		%	12.3		%	12.0		%	12.0		%	11.8		%
Tier 1 capital ratio	12.3			13.4			12.8			12.5			11.9
Total capital ratio	15.3			16.5			15.8			15.3			14.8
Tier 1 leverage ratio	8.4			8.2			7.9			7.7			7.4
Tangible equity ratio (3)	8.6			8.4			8.1			7.8			7.6
Tangible common equity ratio (3)	7.5			7.5			7.2			7.1			7.0

⁽¹⁾  Regulatory capital ratios are preliminary.

⁽²⁾  Common equity tier 1 capital ratio at March 31, 2015 reflects the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

⁽³⁾  Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio 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. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 41-44.)

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
Regulatory Capital Reconciliations (1, 2)
(Dollars in millions)
	March 31 2015			December 31 2014			September 30 2014			June 30 2014			March 31 2014
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition) (3)	$	155,438		$	155,361		$	152,444		$	153,582		$	150,922
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(6,031		)	(8,905		)	(10,502		)	(11,118		)	(11,933		)
DVA related to liabilities and derivatives phased in during transition	498			925			974			1,229			1,275
Defined benefit pension fund assets phased in during transition	(459		)	(599		)	(663		)	(658		)	(644		)
Other adjustments and deductions phased in during transition	(2,247		)	(5,565		)	(7,147		)	(5,852		)	(9,474		)
Common equity tier 1 capital (fully phased-in)	$	147,199		$	141,217		$	135,106		$	137,183		$	130,146
Risk-weighted assets – As reported to Basel 3 (fully phased-in)
As reported risk-weighted assets (3)	$	1,402,309		$	1,261,544		$	1,271,723		$	1,284,924		$	1,282,117
Change in risk-weighted assets from reported to fully phased-in	25,394			153,722			143,516			151,901			165,332
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	1,427,703			1,415,266			1,415,239			1,436,825			1,447,449
Change in risk-weighted assets for advanced models	33,204			50,213			(8,375		)	(49,390		)	(86,234		)
Basel 3 Advanced approaches risk-weighted assets (fully phased-in)	$	1,460,907		$	1,465,479		$	1,406,864		$	1,387,435		$	1,361,215
Regulatory capital ratios
Basel 3 Standardized approach Common equity tier 1 (transition) (3)	11.1		%	12.3		%	12.0		%	12.0		%	11.8		%
Basel 3 Standardized approach Common equity tier 1 (fully phased-in)	10.3			10.0			9.5			9.5			9.0
Basel 3 Advanced approaches Common equity tier 1 (fully phased-in)	10.1			9.6			9.6			9.9			9.6

⁽¹⁾  Regulatory capital ratios are preliminary.

⁽²⁾  Basel 3 Common equity tier 1 capital and risk-weighted assets on a fully phased-in basis are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above. The Corporation’s fully phased-in Basel 3 estimates and the supplementary leverage ratio are based on its current understanding of the Standardized and Advanced approaches under the Basel 3 rules. Under the Basel 3 Advanced approaches, risk-weighted assets are determined primarily for market risk and credit risk, similar to the Standardized approach, and also incorporate operational risk. Market risk capital measurements are consistent with the Standardized approach, except for securitization exposures, where the Supervisory Formula Approach is also permitted, and certain differences arising from the inclusion of the CVA capital charge in the credit risk capital measurement. Credit risk exposures are measured using internal ratings-based models to determine the applicable risk weight by estimating the probability of default, loss given default and, in certain instances, exposure at default. The internal analytical models primarily rely on internal historical default and loss experience. The calculations under Basel 3 require management to make estimates, assumptions and interpretations, including the probability of future events based on historical experience. Actual results could differ from those estimates and assumptions. These estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology, but do not include the benefit of the removal of the surcharge applicable to the comprehensive risk measure. Our estimates under the Basel 3 Advanced approaches may be refined over time as a result of further rulemaking or clarification by U.S. banking regulators or as our understanding and interpretation of the rules evolve. The U.S. banking regulators have requested modifications to certain internal analytical models including the wholesale (e.g., commercial) and other credit models which would increase our risk-weighted assets and is estimated to negatively impact the Common equity tier 1 capital ratio by approximately 100 bps. We are currently working with the U.S. banking regulators in order to exit parallel run.

⁽³⁾  Common equity tier 1 capital ratio at March 31, 2015 reflects the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

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
Net Interest Income Excluding Trading-related Net Interest Income
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)
As reported	$	9,670		$	9,865		$	10,444		$	10,226		$	10,286
Impact of trading-related net interest income	(917		)	(939		)	(907		)	(864		)	(905		)
Net interest income excluding trading-related net interest income (1)	$	8,753		$	8,926		$	9,537		$	9,362		$	9,381
Average earning assets
As reported	$	1,804,399		$	1,802,121		$	1,813,482		$	1,840,850		$	1,803,297
Impact of trading-related earning assets	(418,214		)	(435,408		)	(441,661		)	(463,395		)	(442,700		)
Average earning assets excluding trading-related earning assets (1)	$	1,386,185		$	1,366,713		$	1,371,821		$	1,377,455		$	1,360,597
Net interest yield contribution (FTE basis) (2)
As reported	2.17		%	2.18		%	2.29		%	2.22		%	2.29		%
Impact of trading-related activities	0.38			0.42			0.47			0.50			0.48
Net interest yield on earning assets excluding trading-related activities (1)	2.55		%	2.60		%	2.76		%	2.72		%	2.77		%

⁽¹⁾  Represents a non-GAAP financial measure.

⁽²⁾  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. 10

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	First Quarter 2015						Fourth Quarter 2014						First Quarter 2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	126,189	$	84	0.27	%	$	109,042	$	74	0.27	%	$	112,570	$	72	0.26	%
Time deposits placed and other short-term investments	8,379		33		1.61		9,339		41		1.73		13,879		49		1.43
Federal funds sold and securities borrowed or purchased under agreements to resell	213,931		231		0.44		217,982		237		0.43		212,504		265		0.51
Trading account assets	138,946		1,122		3.26		144,147		1,142		3.15		147,583		1,213		3.32
Debt securities	383,120		1,898		2.01		371,014		1,687		1.82		329,711		2,005		2.41
Loans and leases (1):
Residential mortgage	215,030		1,851		3.45		223,132		1,946		3.49		247,560		2,238		3.62
Home equity	84,915		770		3.66		86,825		808		3.70		92,755		853		3.71
U.S. credit card	88,695		2,027		9.27		89,381		2,087		9.26		89,545		2,092		9.48
Non-U.S. credit card	10,002		262		10.64		10,950		280		10.14		11,554		308		10.79
Direct/Indirect consumer	80,713		491		2.47		83,121		522		2.49		81,728		530		2.63
Other consumer	1,847		15		3.29		2,031		85		16.75		1,962		18		3.66
Total consumer	481,202		5,416		4.54		495,440		5,728		4.60		525,104		6,039		4.64
U.S. commercial	234,907		1,645		2.84		231,215		1,648		2.83		228,059		1,650		2.93
Commercial real estate	48,234		347		2.92		46,996		360		3.04		48,753		368		3.06
Commercial lease financing	24,495		216		3.53		24,238		199		3.28		24,727		234		3.78
Non-U.S. commercial	83,555		485		2.35		86,844		527		2.41		92,839		544		2.37
Total commercial	391,191		2,693		2.79		389,293		2,734		2.79		394,378		2,796		2.87
Total loans and leases	872,393		8,109		3.75		884,733		8,462		3.80		919,482		8,835		3.88
Other earning assets	61,441		705		4.66		65,864		739		4.46		67,568		697		4.18
Total earning assets (2)	1,804,399		12,182		2.73		1,802,121		12,382		2.73		1,803,297		13,136		2.94
Cash and due from banks	27,695						27,590						28,258
Other assets, less allowance for loan and lease losses	306,480						307,840						307,711
Total assets	$	2,138,574					$	2,137,551					$	2,139,266

⁽¹⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

⁽²⁾  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 2015				Fourth Quarter 2014				First Quarter 2014
Federal funds sold and securities borrowed or purchased under agreements to resell		$	12			$	14			$	13
Debt securities		(8		)		(11		)		(2		)
U.S. commercial loans and leases		(15		)		(13		)		(16		)
Net hedge expense on assets		$	(11	)		$	(10	)		$	(5	)

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
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	First Quarter 2015						Fourth Quarter 2014						First Quarter 2014
	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	$	46,224	$	2	0.02	%	$	45,621	$	1	0.01	%	$	45,196	$	1	0.01	%
NOW and money market deposit accounts	531,827		67		0.05		515,995		76		0.06		523,237		83		0.06
Consumer CDs and IRAs	58,704		45		0.31		61,880		52		0.33		71,140		84		0.48
Negotiable CDs, public funds and other deposits	28,796		22		0.31		30,950		22		0.29		29,826		27		0.37
Total U.S. interest-bearing deposits	665,551		136		0.08		654,446		151		0.09		669,399		195		0.12
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,544		8		0.74		5,415		9		0.63		11,071		16		0.59
Governments and official institutions	1,382		1		0.21		1,647		1		0.18		1,857		1		0.12
Time, savings and other	54,276		75		0.55		57,029		76		0.53		60,507		79		0.53
Total non-U.S. interest-bearing deposits	60,202		84		0.56		64,091		86		0.53		73,435		96		0.53
Total interest-bearing deposits	725,753		220		0.12		718,537		237		0.13		742,834		291		0.16
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	244,134		606		1.01		251,432		615		0.97		252,972		609		0.97
Trading account liabilities	78,787		373		1.92		78,174		350		1.78		90,449		435		1.95
Long-term debt	240,127		1,313		2.20		249,221		1,315		2.10		253,678		1,515		2.41
Total interest-bearing liabilities (1)	1,288,801		2,512		0.79		1,297,364		2,517		0.77		1,339,933		2,850		0.86
Noninterest-bearing sources:
Noninterest-bearing deposits	404,972						403,977						375,343
Other liabilities	199,057						192,756						187,431
Shareholders' equity	245,744						243,454						236,559
Total liabilities and shareholders' equity	$	2,138,574					$	2,137,551					$	2,139,266
Net interest spread					1.94	%					1.96	%					2.08	%
Impact of noninterest-bearing sources					0.23						0.22						0.21
Net interest income/yield on earning assets			$	9,670	2.17	%			$	9,865	2.18	%			$	10,286	2.29	%

⁽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 2015				Fourth Quarter 2014				First Quarter 2014
Consumer CDs and IRAs		$	6			$	6			$	20
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		1				2				3
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		249				257				257
Long-term debt		(841		)		(927		)		(875		)
Net hedge income on liabilities		$	(582	)		$	(659	)		$	(592	)

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
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	March 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	58,501	$	1,018	$	(3	)	$	59,516
Mortgage-backed securities:
Agency	179,255		2,858		(275		)	181,838
Agency-collateralized mortgage obligations	13,696		296		(31		)	13,961
Non-agency residential	3,791		295		(60		)	4,026
Commercial	3,853		137		(1		)	3,989
Non-U.S. securities	5,923		32		(3		)	5,952
Corporate/Agency bonds	356		10		(1		)	365
Other taxable securities, substantially all asset-backed securities	9,554		42		(18		)	9,578
Total taxable securities	274,929		4,688		(392		)	279,225
Tax-exempt securities	9,725		11		(19		)	9,717
Total available-for-sale debt securities	284,654		4,699		(411		)	288,942
Other debt securities carried at fair value	35,166		264		(198		)	35,232
Total debt securities carried at fair value	319,820		4,963		(609		)	324,174
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	59,815		496		(422		)	59,889
Total debt securities	$	379,635	$	5,459	$	(1,031	)	$	384,063
Available-for-sale marketable equity securities (1)	$	336	$	59	$	—		$	395
	December 31, 2014
Available-for-sale debt securities
U.S. Treasury and agency securities	$	69,267	$	360	$	(32	)	$	69,595
Mortgage-backed securities:
Agency	163,592		2,040		(593		)	165,039
Agency-collateralized mortgage obligations	14,175		152		(79		)	14,248
Non-agency residential	4,244		287		(77		)	4,454
Commercial	3,931		69		—			4,000
Non-U.S. securities	6,208		33		(11		)	6,230
Corporate/Agency bonds	361		9		(2		)	368
Other taxable securities, substantially all asset-backed securities	10,774		39		(22		)	10,791
Total taxable securities	272,552		2,989		(816		)	274,725
Tax-exempt securities	9,556		12		(19		)	9,549
Total available-for-sale debt securities	282,108		3,001		(835		)	284,274
Other debt securities carried at fair value	36,524		261		(364		)	36,421
Total debt securities carried at fair value	318,632		3,262		(1,199		)	320,695
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	59,766		486		(611		)	59,641
Total debt securities	$	378,398	$	3,748	$	(1,810	)	$	380,336
Available-for-sale marketable equity securities (1)	$	336	$	27	$	—		$	363

⁽¹⁾  Classified in other assets on the Consolidated Balance Sheet.

Other Debt Securities Carried at Fair Value
(Dollars in millions)	March 31 2015		December 31 2014
U.S. Treasury and agency securities	$	1,272	$	1,541
Mortgage-backed securities:
Agency	15,670		15,704
Non-agency residential	3,869		3,745
Non-U.S. securities (1)	14,124		15,132
Other taxable securities, substantially all asset-backed securities	297		299
Total	$	35,232	$	36,421

⁽¹⁾  These securities are primarily used to satisfy certain international regulatory liquidity requirements.

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. 13

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	First Quarter 2015
	Total Corporation			Consumer Banking			GWIM		Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,670		$	4,871		$	1,351	$	2,265		$	1,004		$	428		$	(249	)
Card income	1,394			1,167			49		100			9			—			69
Service charges	1,764			966			18		710			65			—			5
Investment and brokerage services (loss)	3,378			65			2,723		30			562			—			(2		)
Investment banking income (loss)	1,487			—			72		852			630			—			(67		)
Equity investment income (loss)	27			(1		)	—		9			18			—			1
Trading account profits (losses)	2,247			—			55		64			2,127			2			(1		)
Mortgage banking income (loss)	694			288			1		—			—			461			(56		)
Gains on sales of debt securities	268			1			1		—			3			—			263
Other income (loss)	492			93			247		259			185			23			(315		)
Total noninterest income	11,751			2,579			3,166		2,024			3,599			486			(103		)
Total revenue, net of interest expense (FTE basis)	21,421			7,450			4,517		4,289			4,603			914			(352		)
Provision for credit losses	765			716			23		96			21			91			(182		)
Noninterest expense	15,695			4,389			3,459		2,022			3,120			1,201			1,504
Income (loss) before income taxes (FTE basis)	4,961			2,345			1,035		2,171			1,462			(378		)	(1,674		)
Income tax expense (benefit) (FTE basis)	1,604			870			384		806			517			(140		)	(833		)
Net income (loss)	$	3,357		$	1,475		$	651	$	1,365		$	945		$	(238	)	$	(841	)
Average
Total loans and leases	$	872,393		$	199,581		$	126,129	$	289,524		$	56,990		$	32,411		$	167,758
Total assets (1)	2,138,574			594,916			275,130		365,355			598,503			52,617			252,053
Total deposits	1,130,725			531,365			243,561		289,935			n/m			n/m			19,405
Period end
Total loans and leases	$	877,956		$	200,153		$	127,556	$	295,653		$	63,019		$	31,690		$	159,885
Total assets (1)	2,143,545			613,130			272,777		368,595			586,737			53,538			248,768
Total deposits	1,153,168			549,489			244,080		293,846			n/m			n/m			19,467
	Fourth Quarter 2014
	Total Corporation			Consumer Banking			GWIM		Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,865		$	4,966		$	1,407	$	2,420		$	1,032		$	390		$	(350	)
Card income	1,610			1,325			53		124			19			—			89
Service charges	1,844			1,043			18		712			65			—			6
Investment and brokerage services	3,397			66			2,763		27			540			—			1
Investment banking income (loss)	1,541			—			71		830			670			—			(30		)
Equity investment income (loss)	(20		)	(1		)	2		1			14			—			(36		)
Trading account profits (losses)	111			—			39		(8		)	76			1			3
Mortgage banking income (loss)	352			192			2		—			—			241			(83		)
Gains on sales of debt securities	163			1			—		—			—			1			161
Other income (loss)	92			167			247		226			(46		)	5			(507		)
Total noninterest income	9,090			2,793			3,195		1,912			1,338			248			(396		)
Total revenue, net of interest expense (FTE basis)	18,955			7,759			4,602		4,332			2,370			638			(746		)
Provision for credit losses	219			653			14		(31		)	26			(113		)	(330		)
Noninterest expense	14,196			4,409			3,440		2,002			2,500			1,364			481
Income (loss) before income taxes (FTE basis)	4,540			2,697			1,148		2,361			(156		)	(613		)	(897		)
Income tax expense (benefit) (FTE basis)	1,490			1,036			442		850			(84		)	(231		)	(523		)
Net income (loss)	$	3,050		$	1,661		$	706	$	1,511		$	(72	)	$	(382	)	$	(374	)
Average
Total loans and leases	$	884,733		$	199,215		$	123,544	$	287,017		$	58,094		$	33,772		$	183,091
Total assets (1)	2,137,551			582,115			266,716		369,292			611,713			48,557			259,158
Total deposits	1,122,514			517,580			238,835		296,205			n/m			n/m			22,163
Period end
Total loans and leases	$	881,391		$	202,000		$	125,431	$	288,905		$	59,388		$	33,055		$	172,612
Total assets (1)	2,104,534			589,048			274,887		357,081			579,512			45,958			258,048
Total deposits	1,118,936			524,413			245,391		283,191			n/m			n/m			19,242

⁽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. 14

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment (continued)
(Dollars in millions)
	First Quarter 2014
	Total Corporation			Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,286		$	5,071	$	1,485	$	2,507	$	1,002	$	377		$	(156	)
Card income	1,393			1,148		53		96		9		—			87
Service charges	1,826			993		20		733		73		—			7
Investment and brokerage services	3,269			61		2,604		25		561		—			18
Investment banking income (loss)	1,542			—		66		822		736		—			(82		)
Equity investment income	784			—		3		56		29		—			696
Trading account profits	2,467			—		47		43		2,367		2			8
Mortgage banking income (loss)	412			178		—		—		1		291			(58		)
Gains on sales of debt securities	377			1		—		—		10		9			357
Other income (loss)	411			199		269		253		229		7			(546		)
Total noninterest income	12,481			2,580		3,062		2,028		4,015		309			487
Total revenue, net of interest expense (FTE basis)	22,767			7,651		4,547		4,535		5,017		686			331
Provision for credit losses	1,009			809		23		281		19		12			(135		)
Noninterest expense	22,238			4,495		3,359		2,190		3,075		7,401			1,718
Income (loss) before income taxes (FTE basis)	(480		)	2,347		1,165		2,064		1,923		(6,727		)	(1,252		)
Income tax expense (benefit) (FTE basis)	(204		)	879		436		773		610		(1,847		)	(1,055		)
Net income (loss)	$	(276	)	$	1,468	$	729	$	1,291	$	1,313	$	(4,880	)	$	(197	)
Average
Total loans and leases	$	919,482		$	196,425	$	115,945	$	287,920	$	63,696	$	38,104		$	217,392
Total assets (1)	2,139,266			569,650		270,275		362,264		601,427		57,400			278,250
Total deposits	1,118,177			504,849		242,792		285,594		n/m		n/m			34,981
Period end
Total loans and leases	$	916,217		$	194,676	$	116,482	$	289,645	$	64,598	$	37,401		$	213,415
Total assets (1)	2,149,851			586,472		271,211		359,786		594,792		58,605			278,985
Total deposits	1,133,650			521,453		244,051		286,285		n/m		n/m			34,854

⁽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. 15

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	4,871		$	4,966		$	5,081		$	5,060		$	5,071
Noninterest income:
Card income	1,167			1,325			1,219			1,152			1,148
Service charges	966			1,043			1,085			1,039			993
Mortgage banking income	288			192			206			237			178
All other income	158			233			158			161			261
Total noninterest income	2,579			2,793			2,668			2,589			2,580
Total revenue, net of interest expense (FTE basis)	7,450			7,759			7,749			7,649			7,651
Provision for credit losses	716			653			668			550			809
Noninterest expense	4,389			4,409			4,447			4,505			4,495
Income before income taxes (FTE basis)	2,345			2,697			2,634			2,594			2,347
Income tax expense (FTE basis)	870			1,036			956			960			879
Net income	$	1,475		$	1,661		$	1,678		$	1,634		$	1,468
Net interest yield (FTE basis)	3.54		%	3.61		%	3.71		%	3.74		%	3.85		%
Return on average allocated capital (1)	21			22			22			22			20
Efficiency ratio (FTE basis)	58.92			56.80			57.40			58.90			58.76
Balance Sheet
Average
Total loans and leases	$	199,581		$	199,215		$	197,374		$	195,413		$	196,425
Total earning assets (2)	558,833			545,721			542,858			542,421			533,751
Total assets (2)	594,916			582,115			578,927			578,514			569,650
Total deposits	531,365			517,580			514,549			514,137			504,849
Allocated capital (1)	29,000			30,000			30,000			30,000			30,000
Period end
Total loans and leases	$	200,153		$	202,000		$	198,467		$	197,021		$	194,676
Total earning assets (2)	576,868			552,117			544,916			543,827			550,413
Total assets (2)	613,130			589,048			580,381			579,870			586,472
Total deposits	549,489			524,413			515,580			514,838			521,453

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes 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 41-44.)

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

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 Banking Quarterly Results
(Dollars in millions)
	First Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	4,871		$	2,297		$	2,574
Noninterest income:
Card income	1,167			3			1,164
Service charges	966			966			—
Mortgage banking income	288			—			288
All other income	158			103			55
Total noninterest income	2,579			1,072			1,507
Total revenue, net of interest expense (FTE basis)	7,450			3,369			4,081
Provision for credit losses	716			63			653
Noninterest expense	4,389			2,451			1,938
Income before income taxes (FTE basis)	2,345			855			1,490
Income tax expense (FTE basis)	870			317			553
Net income	$	1,475		$	538		$	937
Net interest yield (FTE basis)	3.54		%	1.74		%	5.32		%
Return on average allocated capital (1)	21			18			22
Efficiency ratio (FTE basis)	58.92			72.76			47.49
Balance Sheet
Average
Total loans and leases	$	199,581		$	5,879		$	193,702
Total earning assets (2)	558,833			535,555			196,044
Total assets (2)	594,916			562,314			205,368
Total deposits	531,365			530,289			n/m
Allocated capital (1)	29,000			12,000			17,000
Period end
Total loans and leases	$	200,153		$	5,824		$	194,329
Total earning assets (2)	576,868			553,574			197,738
Total assets (2)	613,130			580,337			207,237
Total deposits	549,489			548,303			n/m
	Fourth Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	4,966		$	2,312		$	2,654
Noninterest income:
Card income	1,325			3			1,322
Service charges	1,043			1,042			1
Mortgage banking income	192			—			192
All other income	233			120			113
Total noninterest income	2,793			1,165			1,628
Total revenue, net of interest expense (FTE basis)	7,759			3,477			4,282
Provision for credit losses	653			61			592
Noninterest expense	4,409			2,490			1,919
Income before income taxes (FTE basis)	2,697			926			1,771
Income tax expense (FTE basis)	1,036			358			678
Net income	$	1,661		$	568		$	1,093
Net interest yield (FTE basis)	3.61		%	1.76		%	5.38		%
Return on average allocated capital (1)	22			20			23
Efficiency ratio (FTE basis)	56.80			71.58			44.80
Balance Sheet
Average
Total loans and leases	$	199,215		$	5,966		$	193,249
Total earning assets (2)	545,721			520,456			195,788
Total assets (2)	582,115			547,358			205,280
Total deposits	517,580			516,479			n/m
Allocated capital (1)	30,000			11,000			19,000
Period end
Total loans and leases	$	202,000		$	5,951		$	196,049
Total earning assets (2)	552,117			527,045			199,097
Total assets (2)	589,048			554,344			208,729
Total deposits	524,413			523,348			n/m

For footnotes see page 18.

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. 17

Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,071		$	2,340		$	2,731
Noninterest income:
Card income	1,148			2			1,146
Service charges	993			993			—
Mortgage banking income	178			—			178
All other income	261			91			170
Total noninterest income	2,580			1,086			1,494
Total revenue, net of interest expense (FTE basis)	7,651			3,426			4,225
Provision for credit losses	809			64			745
Noninterest expense	4,495			2,465			2,030
Income before income taxes (FTE basis)	2,347			897			1,450
Income tax expense (FTE basis)	879			336			543
Net income	$	1,468		$	561		$	907
Net interest yield (FTE basis)	3.85		%	1.87		%	5.72		%
Return on average allocated capital (1)	20			21			19
Efficiency ratio (FTE basis)	58.76			71.97			48.05
Balance Sheet
Average
Total loans and leases	$	196,425		$	6,092		$	190,333
Total earning assets (2)	533,751			508,332			193,671
Total assets (2)	569,650			535,023			202,879
Total deposits	504,849			504,065			n/m
Allocated capital (1)	30,000			11,000			19,000
Period end
Total loans and leases	$	194,676		$	6,110		$	188,566
Total earning assets (2)	550,413			524,853			192,570
Total assets (2)	586,472			551,609			201,873
Total deposits	521,453			520,580			n/m

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes 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 41-44.)

⁽²⁾  For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, the Corporation allocates assets from All Other to match the segments' and businesses' liabilities and allocated shareholders' equity. As a result, total earning assets and total assets of the businesses may not equal total Consumer Banking.

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. 18

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Average deposit balances
Checking	$	250,248		$	241,254		$	238,133		$	236,197		$	228,815
Savings	44,525			43,972			45,124			45,769			43,588
MMS	180,078			172,992			168,815			167,058			165,016
CDs and IRAs	53,820			56,476			59,666			62,293			64,731
Non-U.S. and other	2,694			2,886			2,811			2,820			2,699
Total average deposit balances	$	531,365		$	517,580		$	514,549		$	514,137		$	504,849
Deposit spreads (excludes noninterest costs)
Checking	2.03		%	2.08		%	2.08		%	2.07		%	2.07		%
Savings	2.31			2.32			2.32			2.31			2.29
MMS	1.23			1.21			1.19			1.17			1.14
CDs and IRAs	0.54			0.52			0.50			0.49			0.50
Non-U.S. and other	0.42			0.40			0.40			0.42			0.65
Total deposit spreads	1.62			1.63			1.61			1.60			1.57
Client brokerage assets	$	118,492		$	113,763		$	108,533		$	105,926		$	100,206
Online banking active accounts (units in thousands)	31,479			30,904			30,821			30,429			30,470
Mobile banking active accounts (units in thousands)	16,943			16,539			16,107			15,475			14,986
Financial centers	4,835			4,855			4,947			5,023			5,095
ATMs	15,915			15,838			15,675			15,976			16,214
Total U.S. credit card(1)
Loans
Average credit card outstandings	$	88,695		$	89,381		$	88,866		$	88,058		$	89,545
Ending credit card outstandings	87,288			91,879			89,026			89,020			87,692
Credit quality
Net charge-offs	$	621		$	612		$	625		$	683		$	718
	2.84		%	2.71		%	2.79		%	3.11		%	3.25		%
30+ delinquency	$	1,581		$	1,701		$	1,702		$	1,698		$	1,878
	1.81		%	1.85		%	1.91		%	1.91		%	2.14		%
90+ delinquency	$	795		$	866		$	831		$	868		$	966
	0.91		%	0.94		%	0.93		%	0.98		%	1.10		%
Other Total U.S. credit card indicators (1)
Gross interest yield	9.27		%	9.26		%	9.34		%	9.30		%	9.48		%
Risk-adjusted margin	9.05			9.96			9.33			8.97			9.49
New accounts (in thousands)	1,161			1,184			1,202			1,128			1,027
Purchase volumes	$	50,178		$	55,858		$	53,784		$	53,583		$	48,863
Debit card data
Purchase volumes	$	66,898		$	69,204		$	67,990		$	69,492		$	65,890

For footnotes see page 20.

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

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Loan production (2):
Total (3)
First mortgage	$	13,713		$	11,616		$	11,725		$	11,099		$	8,850
Home equity	3,217			3,420			3,225			2,604			1,984
Consumer Banking
First mortgage	$	9,854		$	8,316		$	8,861		$	8,461		$	6,702
Home equity	3,017			3,129			2,970			2,396			1,791
Mortgage banking income
Consumer Lending:
Core production revenue	$	300		$	214		$	239		$	233		$	189
Representations and warranties provision	6			(4		)	(15		)	22			7
Other consumer mortgage banking income (4)	(18		)	(18		)	(18		)	(18		)	(18		)
Total Consumer Lending mortgage banking income	288			192			206			237			178
LAS mortgage banking income (5)	461			241			152			369			291
Eliminations (6)	(55		)	(81		)	(86		)	(79		)	(57		)
Total consolidated mortgage banking income	$	694		$	352		$	272		$	527		$	412

⁽¹⁾  In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.

⁽²⁾  The above loan production amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the line of credit.

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

⁽⁴⁾  Primarily intercompany charge for loan servicing from Legacy Assets & Servicing.

⁽⁵⁾  Amounts for Legacy Assets & Servicing are included in this Consumer Banking table to show the components of consolidated mortgage banking income.

⁽⁶⁾  Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other and intercompany charges for loan servicing.

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. 20

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	1,351		$	1,407		$	1,459		$	1,485		$	1,485
Noninterest income:
Investment and brokerage services	2,723			2,763			2,713			2,642			2,604
All other income	443			432			494			462			458
Total noninterest income	3,166			3,195			3,207			3,104			3,062
Total revenue, net of interest expense (FTE basis)	4,517			4,602			4,666			4,589			4,547
Provision for credit losses	23			14			(15		)	(8		)	23
Noninterest expense	3,459			3,440			3,403			3,445			3,359
Income before income taxes (FTE basis)	1,035			1,148			1,278			1,152			1,165
Income tax expense (FTE basis)	384			442			465			426			436
Net income	$	651		$	706		$	813		$	726		$	729
Net interest yield (FTE basis)	2.13		%	2.24		%	2.33		%	2.40		%	2.40		%
Return on average allocated capital (1)	22			23			27			24			25
Efficiency ratio (FTE basis)	76.57			74.76			72.94			75.07			73.86
Balance Sheet
Average
Total loans and leases	$	126,129		$	123,544		$	121,002		$	118,512		$	115,945
Total earning assets (2)	257,625			248,613			248,223			248,380			250,732
Total assets (2)	275,130			266,716			266,324			266,781			270,275
Total deposits	243,561			238,835			239,352			240,042			242,792
Allocated capital (1)	12,000			12,000			12,000			12,000			12,000
Period end
Total loans and leases	$	127,556		$	125,431		$	122,395		$	120,187		$	116,482
Total earning assets (2)	255,840			256,519			248,072			245,555			251,779
Total assets (2)	272,777			274,887			266,240			263,957			271,211
Total deposits	244,080			245,391			238,710			237,046			244,051

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes 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 41-44.)

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

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 Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014		Second Quarter 2014		First Quarter 2014
Revenues
Merrill Lynch Global Wealth Management	$	3,748		$	3,827		$	3,874	$	3,791	$	3,764
U.S. Trust	751			758			775		783		768
Other (1)	18			17			17		15		15
Total revenues	$	4,517		$	4,602		$	4,666	$	4,589	$	4,547
Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	2,043,447		$	2,033,801		$	2,004,391	$	2,017,051	$	1,946,922
U.S. Trust	391,105			387,491			381,054		380,281		378,177
Other (1)	75,295			76,705			76,640		70,836		70,720
Client Balances by Type
Assets under management	$	917,257		$	902,872		$	888,006	$	878,741	$	841,818
Brokerage assets	1,076,277			1,081,434			1,073,858		1,091,558		1,054,052
Assets in custody	141,273			139,555			135,886		137,391		136,342
Deposits	244,080			245,391			238,710		237,046		244,051
Loans and leases (2)	130,960			128,745			125,625		123,432		119,556
Total client balances	$	2,509,847		$	2,497,997		$	2,462,085	$	2,468,168	$	2,395,819
Assets Under Management Flows
Liquidity assets under management (3)	$	(1,493	)	$	(255	)	$	5,910	$	135	$	(2,429	)
Long-term assets under management (4)	14,654			9,380			11,168		11,870		17,382
Total assets under management flows	$	13,161		$	9,125		$	17,078	$	12,005	$	14,953
Associates(5)
Number of Financial Advisors	16,175			16,035			15,867		15,560		15,323
Total Wealth Advisors	17,508			17,231			17,039		16,721		16,481
Total Client Facing Professionals	20,018			19,750			19,727		19,416		19,199
Merrill Lynch Global Wealth Management Metrics
Financial Advisor Productivity (6) (in thousands)	$	1,041		$	1,070		$	1,077	$	1,060	$	1,056
U.S. Trust Metrics
Client Facing Professionals	2,157			2,155			2,135		2,110		2,117

⁽¹⁾  Other includes the results of BofA Global Capital Management and other administrative items.

⁽²⁾  Includes margin receivables which are classified in customer and other receivables 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 primarily 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 Banking segment of 1,992, 1,950, 1,868, 1,716 and 1,598 at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.

⁽⁶⁾  Financial Advisor Productivity is defined as annualized Merrill Lynch Global Wealth Management total revenue divided by the total number of Financial Advisors (excluding Financial Advisors in the Consumer 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. 22

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	2,265		$	2,420		$	2,455		$	2,446		$	2,507
Noninterest income:
Service charges	710			712			730			725			733
Investment banking fees	852			830			727			834			822
All other income	462			370			451			442			473
Total noninterest income	2,024			1,912			1,908			2,001			2,028
Total revenue, net of interest expense (FTE basis)	4,289			4,332			4,363			4,447			4,535
Provision for credit losses	96			(31		)	(64		)	136			281
Noninterest expense	2,022			2,002			2,050			2,020			2,190
Income before income taxes (FTE basis)	2,171			2,361			2,377			2,291			2,064
Income tax expense (FTE basis)	806			850			866			849			773
Net income	$	1,365		$	1,511		$	1,511		$	1,442		$	1,291
Net interest yield (FTE basis)	2.87		%	2.96		%	3.00		%	3.10		%	3.23		%
Return on average allocated capital (1)	16			18			18			17			16
Efficiency ratio (FTE basis)	47.15			46.20			46.97			45.43			48.30
Balance Sheet
Average
Total loans and leases	$	289,524		$	287,017		$	283,284		$	287,795		$	287,920
Total earnings assets (2)	320,443			324,388			324,688			316,860			314,685
Total assets (2)	365,355			369,292			368,394			362,605			362,264
Total deposits	289,935			296,205			295,715			287,786			285,594
Allocated capital (1)	35,000			33,500			33,500			33,500			33,500
Period end
Total loans and leases	$	295,653		$	288,905		$	284,968		$	286,976		$	289,645
Total earnings assets (2)	322,242			311,782			314,727			328,370			314,565
Total assets (2)	368,595			357,081			358,786			374,376			359,786
Total deposits	293,846			283,191			286,128			299,188			286,285

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes 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 41-44.)

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

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
Global Banking Key Indicators
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014				Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Investment Banking fees (1)
Advisory (2)	$	387		$	316			$	291		$	234		$	257
Debt issuance	335			379				318			388			447
Equity issuance	130			135				118			212			118
Total Investment Banking fees (3)	$	852		$	830			$	727		$	834		$	822
Business Lending
Corporate	$	889		$	800			$	878		$	830		$	912
Commercial	912			991				934			1,006			1,011
Business Banking	87			92				91			92			89
Total Business Lending revenue	$	1,888		$	1,883			$	1,903		$	1,928		$	2,012
Global Transaction Services
Corporate	$	667		$	755			$	776		$	761		$	736
Commercial	655			710				727			717			733
Business Banking	165			182				179			176			177
Total Global Transaction Services revenue	$	1,487		$	1,647			$	1,682		$	1,654		$	1,646
Average deposit balances
Interest-bearing	$	67,825		$	73,504			$	81,218		$	84,123		$	83,782
Noninterest-bearing	222,110			222,701				214,497			203,663			201,812
Total average deposits	$	289,935		$	296,205			$	295,715		$	287,786		$	285,594
Loan spread	1.68		%	1.69		%		1.70		%	1.72		%	1.80		%
Provision for credit losses	$	96		$	(31	)		$	(64	)	$	136		$	281
Credit quality (4, 5)
Reservable utilized criticized exposure	$	10,471		$	9,662			$	10,314		$	10,788		$	10,965
	3.28		%	3.07		%		3.32		%	3.46		%	3.48		%
Nonperforming loans, leases and foreclosed properties	$	979		$	892			$	1,080		$	1,023		$	1,009
	0.33		%	0.31		%		0.38		%	0.36		%	0.35		%
Average loans and leases by product
U.S. commercial	$	156,137		$	153,256			$	150,918		$	151,923		$	150,971
Commercial real estate	42,163			41,445				41,818			44,437			45,132
Commercial lease financing	25,442			25,105				25,127			25,165			25,427
Non-U.S. commercial	65,765			67,192				65,401			66,250			66,371
Other	17			19				20			20			19
Total average loans and leases	$	289,524		$	287,017			$	283,284		$	287,795		$	287,920
Total Corporation Investment Banking fees
Advisory (2)	$	428		$	341			$	316		$	264		$	286
Debt issuance	781			883				784			891			1,025
Equity issuance	345			348				315			514			313
Total investment banking fees including self-led deals	1,554			1,572			��	1,415			1,669			1,624
Self-led deals	(67		)	(31		)		(64		)	(38		)	(82		)
Total Investment Banking fees	$	1,487		$	1,541			$	1,351		$	1,631		$	1,542

⁽¹⁾  Investment banking fees represent total investment banking fees for Global Banking inclusive of self-led deals and fees included within Business Lending.

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

⁽³⁾  Investment banking fees represent only the fee component in Global Banking and do not include certain less significant items shared with the Investment Banking Group under internal revenue sharing agreements.

⁽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 commercial utilized reservable criticized 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. 24

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Three Months Ended March 31, 2015
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.4	%	3	9.2	%
Announced mergers and acquisitions	4	15.5		6	18.1
Equity capital markets	5	7.0		4	9.6
Debt capital markets	4	5.9		2	9.7
High-yield corporate debt	7	6.5		4	8.1
Leveraged loans	3	7.8		3	10.7
Mortgage-backed securities	3	9.0		3	9.5
Asset-backed securities	2	11.6		1	14.9
Convertible debt	2	9.8		3	10.7
Common stock underwriting	5	6.7		5	9.3
Investment-grade corporate debt	2	6.6		2	11.2
Syndicated loans	2	8.3		2	12.3

Source: Dealogic data as of April 1, 2015. Figures above include self-led transactions.

• Rankings based on deal volumes except 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 either side of the transaction.

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

Highlights

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

Top 3 rankings excluding self-led deals:

Global: Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans

U.S.: Leveraged loans, Mortgage-backed securities, Asset-backed securities, Convertible debt, Investment-grade corporate debt, Syndicated loans, Debt capital markets

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 Segment Results
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	1,004		$	1,032		$	994		$	958		$	1,002
Noninterest income:
Investment and brokerage services	562			540			522			540			561
Investment banking fees	630			670			577			760			736
Trading account profits	2,127			76			1,786			1,768			2,367
All other income	280			52			263			564			351
Total noninterest income	3,599			1,338			3,148			3,632			4,015
Total revenue, net of interest expense (FTE basis) (1)	4,603			2,370			4,142			4,590			5,017
Provision for credit losses	21			26			45			20			19
Noninterest expense	3,120			2,500			3,335			2,861			3,075
Income (loss) before income taxes (FTE basis)	1,462			(156		)	762			1,709			1,923
Income tax expense (benefit) (FTE basis)	517			(84		)	389			604			610
Net income (loss)	$	945		$	(72	)	$	373		$	1,105		$	1,313
Return on average allocated capital (2)	11		%	n/m			4		%	13		%	16		%
Efficiency ratio (FTE basis)	67.80			105.48		%	80.51			62.34		%	61.30		%
Balance Sheet
Average
Total trading-related assets (3)	$	443,951		$	455,535		$	446,490		$	459,938		$	437,128
Total loans and leases	56,990			58,094			62,939			63,579			63,696
Total earning assets (3)	434,914			451,922			457,814			478,191			456,879
Total assets	598,503			611,713			599,884			617,087			601,427
Allocated capital (2)	35,000			34,000			34,000			34,000			34,000
Period end
Total trading-related assets (3)	$	424,996		$	418,860		$	433,597		$	443,383		$	430,894
Total loans and leases	63,019			59,388			62,645			66,260			64,598
Total earning assets (3)	421,520			421,799			443,363			465,380			455,103
Total assets	586,737			579,512			598,668			610,364			594,792
Trading-related assets (average)
Trading account securities	$	193,491		$	201,867		$	201,963		$	200,725		$	203,281
Reverse repurchases	115,328			118,286			116,853			119,823			109,271
Securities borrowed	78,713			81,071			83,369			94,989			80,981
Derivative assets	56,419			54,311			44,305			44,401			43,595
Total trading-related assets (3)	$	443,951		$	455,535		$	446,490		$	459,938		$	437,128

⁽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 27.

⁽²⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes 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 41-44.)

⁽³⁾  Trading-related assets include derivative assets, which are considered non-earning 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. 26

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	First Quarter 2015		Fourth Quarter 2014		Third Quarter 2014		Second Quarter 2014		First Quarter 2014
Sales and trading revenue (1)
Fixed income, currency and commodities	$	2,749	$	879	$	2,381	$	2,422	$	3,024
Equities	1,165		862		1,105		1,055		1,193
Total sales and trading revenue	$	3,914	$	1,741	$	3,486	$	3,477	$	4,217
Sales and trading revenue, excluding net debit valuation adjustment and funding valuation adjustment (2)
Fixed income, currency and commodities	$	2,745	$	1,456	$	2,247	$	2,366	$	2,944
Equities	1,150		911		1,034		1,042		1,161
Total sales and trading revenue, excluding net debit valuation adjustment and funding valuation adjustment	$	3,895	$	2,367	$	3,281	$	3,408	$	4,105
Sales and trading revenue breakdown
Net interest income	$	921	$	943	$	914	$	872	$	914
Commissions	562		540		522		540		561
Trading	2,123		76		1,786		1,768		2,367
Other	308		182		264		297		375
Total sales and trading revenue	$	3,914	$	1,741	$	3,486	$	3,477	$	4,217

⁽¹⁾  Includes Global Banking sales and trading revenue of $76 million for the first quarter of 2015, and $162 million, $68 million, $67 million and $85 million for the fourth, third, second, and first quarters of 2014, respectively.

⁽²⁾  For this presentation, sales and trading revenue excludes net debit valuation adjustment gains (losses) which include net debit valuation adjustments on derivatives and structured liabilities. Sales and trading revenue excluding net debit valuation adjustment gains (losses) represents a non-GAAP financial measure. In the fourth quarter of 2014, the Corporation adopted a funding valuation adjustment on uncollateralized derivatives in the Corporation's Global Markets business. This methodology seeks to account for the value of funding costs today rather than accruing the cost over the life of the derivatives. The adoption resulted in a one-time transitional charge of $497 million recorded in the fourth quarter of 2014.

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. 27

Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Segment Results
(Dollars in millions; except as noted)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	428		$	390		$	387		$	362		$	377
Noninterest income:
Mortgage banking income	461			241			152			369			291
All other income	25			7			17			69			18
Total noninterest income	486			248			169			438			309
Total revenue, net of interest expense (FTE basis)	914			638			556			800			686
Provision for credit losses	91			(113		)	267			(39		)	12
Noninterest expense	1,201			1,364			6,647			5,231			7,401
Loss before income taxes (FTE bases)	(378		)	(613		)	(6,358		)	(4,392		)	(6,727		)
Income tax benefit (FTE basis)	(140		)	(231		)	(1,245		)	(1,653		)	(1,847		)
Net loss	$	(238	)	$	(382	)	$	(5,113	)	$	(2,739	)	$	(4,880	)
Net interest yield (FTE basis)	4.19		%	4.23		%	3.78		%	3.65		%	3.82		%
Balance Sheet
Average
Total loans and leases	$	32,411		$	33,772		$	35,238		$	36,705		$	38,104
Total earning assets (1)	41,371			36,581			40,636			39,863			40,026
Total assets (1)	52,617			48,557			53,762			55,626			57,400
Allocated capital (2)	24,000			17,000			17,000			17,000			17,000
Period end
Total loans and leases	$	31,690		$	33,055		$	34,484		$	35,984		$	37,401
Total earning assets (1)	42,590			33,923			44,916			37,233			39,141
Total assets (1)	53,538			45,958			56,900			52,647			58,605
Period end (in billions)
Mortgage serviced portfolio (3)	$	669.0		$	693.0		$	722.0		$	760.0		$	780.0

⁽¹⁾  Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity.

⁽²⁾  Allocated capital is a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure 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 41-44.)

⁽³⁾  Includes servicing of residential mortgage loans, home equity lines of credit and home equity 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. 28

Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2015				Fourth Quarter 2014				Third Quarter 2014				Second Quarter 2014				First Quarter 2014
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	3,271			$	3,986			$	4,134			$	4,577			$	5,042
Net additions	105				73				140				32				30
Amortization of expected cash flows (1)	(198		)		(198		)		(201		)		(209		)		(210		)
Other changes in mortgage servicing rights fair value (2)	(70		)		(590		)		(87		)		(266		)		(285		)
Balance, end of period (3)	$	3,108			$	3,271			$	3,986			$	4,134			$	4,577
Capitalized mortgage servicing rights (% of loans serviced for investors)	68			bps	69			bps	81			bps	82			bps	87			bps
Mortgage loans serviced for investors (in billions)	$	459			$	474			$	491			$	505			$	527
Mortgage banking income
Servicing income:
Servicing fees	$	430			$	461			$	471			$	492			$	533
Amortization of expected cash flows (1)	(198		)		(198		)		(201		)		(209		)		(210		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks (4)	250				142				(19		)		105				66
Other servicing-related revenue	—				—				—				4				4
Total net servicing income	482				405				251				392				393
Representations and warranties provision	(90		)		(246		)		(152		)		(110		)		(185		)
Other mortgage banking income (5)	69				82				53				87				83
Total Legacy Assets & Servicing mortgage banking income	$	461			$	241			$	152			$	369			$	291

⁽¹⁾  Represents the net change in fair value of the MSR asset due to the recognition of modeled cash flows.

⁽²⁾  These amounts reflect the changes in modeled mortgage servicing rights fair value primarily due to observed changes in interest rates, volatility, spreads and the shape of the forward swap curve. In addition, these amounts reflect periodic adjustments to the valuation model to reflect changes in the modeled relationship between inputs and their impact on projected cash flows, changes in certain cash flow assumptions such as cost to service and ancillary income per loan, changes in option-adjusted spread rate assumptions and the impact of periodic recalibrations of the model to reflect changes in the relationship between market interest rate spreads and projected cash flows.

⁽³⁾  Does not include certain non-U.S. residential mortgage MSR balances, which are recorded in Global Markets.

⁽⁴⁾  Includes gains and losses on sales of mortgage servicing rights.

⁽⁵⁾  Consists primarily of revenue from sales of loans that had returned to performing status.

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 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Net interest income (FTE basis)	$	(249	)	$	(350	)	$	68		$	(85	)	$	(156	)
Noninterest income:
Card income	69			89			92			88			87
Equity investment income	1			(36		)	(26		)	95			696
Gains on sales of debt securities	263			161			410			382			357
All other loss	(436		)	(610		)	(586		)	(595		)	(653		)
Total noninterest income	(103		)	(396		)	(110		)	(30		)	487
Total revenue, net of interest expense (FTE basis)	(352		)	(746		)	(42		)	(115		)	331
Provision for credit losses	(182		)	(330		)	(265		)	(248		)	(135		)
Noninterest expense	1,504			481			260			479			1,718
Loss before income taxes (FTE basis)	(1,674		)	(897		)	(37		)	(346		)	(1,252		)
Income tax benefit (FTE basis)	(833		)	(523		)	(543		)	(469		)	(1,055		)
Net income (loss)	$	(841	)	$	(374	)	$	506		$	123		$	(197	)
Balance Sheet
Average
Total loans and leases	$	167,758		$	183,091		$	199,404		$	210,576		$	217,392
Total assets (2)	252,053			259,158			268,818			288,942			278,250
Total deposits	19,405			22,163			29,879			36,473			34,981
Period end
Total loans and leases	$	159,885		$	172,612		$	188,356		$	205,471		$	213,415
Total assets (3)	248,768			258,048			262,638			289,343			278,985
Total deposits	19,467			19,242			25,418			33,824			34,854

⁽¹⁾  All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Additionally, All Other includes certain residential mortgage loans that are managed by Legacy Assets & Servicing. The results of certain ALM activities are allocated to our business segments. Equity investments include Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments. These investments are made either directly in a company or held through a fund with related income recorded in equity investment income. Equity investments also include the results of our merchant services joint venture. Prior periods have been reclassified to conform to current period presentation.

⁽²⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $505.2 billion, $487.2 billion, $494.4 billion, $483.6 billion and $476.3 billion for the first quarter of 2015, and the fourth, third, second and first quarters of 2014, respectively.

⁽³⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $516.0 billion, $478.2 billion, $487.1 billion, $490.4 billion and $492.1 billion at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, 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)
	Equity Investments Exposures
	March 31, 2015						December 31 2014
	Book Value		Unfunded Commitments		Total		Total
Equity Investments
Global Principal Investments	$	757	$	29	$	786	$	944
Strategic and other investments	3,959		28		3,987		3,979
Total Equity Investments	$	4,716	$	57	$	4,773	$	4,923

Components of Equity Investment Income
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014		First Quarter 2014
Global Principal Investments	$	(46	)	$	(52	)	$	(37	)	$	71	$	(28	)
Strategic and other investments	47			16			11			24		724
Total equity investment income (loss) included in All Other	1			(36		)	(26		)	95		696
Total equity investment income included in the business segments	26			16			35			262		88
Total consolidated equity investment income (loss)	$	27		$	(20	)	$	9		$	357	$	784

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 2015		December 31 2014		March 31 2014
Consumer
Residential mortgage (1)	$	207,925	$	216,197	$	242,977
Home equity	83,571		85,725		91,476
U.S. credit card	87,288		91,879		87,692
Non-U.S. credit card	9,660		10,465		11,563
Direct/Indirect consumer (2)	82,141		80,381		81,552
Other consumer (3)	1,842		1,846		1,980
Total consumer loans excluding loans accounted for under the fair value option	472,427		486,493		517,240
Consumer loans accounted for under the fair value option (4)	2,055		2,077		2,149
Total consumer	474,482		488,570		519,389
Commercial
U.S. commercial (5)	238,307		233,586		228,795
Commercial real estate (6)	49,446		47,682		48,840
Commercial lease financing	24,468		24,866		24,649
Non-U.S. commercial	84,842		80,083		85,630
Total commercial loans excluding loans accounted for under the fair value option	397,063		386,217		387,914
Commercial loans accounted for under the fair value option (4)	6,411		6,604		8,914
Total commercial	403,474		392,821		396,828
Total loans and leases	$	877,956	$	881,391	$	916,217

⁽¹⁾  Includes pay option loans of $2.9 billion, $3.2 billion and $3.8 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. The Corporation no longer originates pay option loans.

⁽²⁾  Includes auto and specialty lending loans of $38.9 billion, $37.7 billion and $38.0 billion, unsecured consumer lending loans of $1.3 billion, $1.5 billion and $2.3 billion, U.S. securities-based lending loans of $36.6 billion, $35.8 billion and $31.8 billion, non-U.S. consumer loans of $4.0 billion, $4.0 billion and $4.6 billion, student loans of $611 million, $632 million and $3.9 billion and other consumer loans of $743 million, $761 million and $899 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽³⁾  Includes consumer finance loans of $646 million, $676 million and $1.1 billion, consumer leases of $1.1 billion, $1.0 billion and $701 million, consumer overdrafts of $120 million, $162 million and $137 million and other non-U.S. consumer loans of $3 million, $3 million and $5 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁴⁾  Consumer loans accounted for under the fair value option were residential mortgage loans of $1.9 billion, $1.9 billion and $2.0 billion and home equity loans of $205 million, $196 million and $152 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.0 billion, $1.9 billion and $1.4 billion and non-U.S. commercial loans of $4.5 billion, $4.7 billion and $7.5 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁵⁾  Includes U.S. small business commercial loans, including card-related products, of $13.2 billion, $13.3 billion and $13.4 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁶⁾  Includes U.S. commercial real estate loans of $46.7 billion, $45.2 billion and $47.1 billion and non-U.S. commercial real estate loans of $2.8 billion, $2.5 billion and $1.7 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

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 2015
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	215,030	$	11,151	$	51,647	$	7	$	—	$	920	$	151,305
Home equity	84,915		45,331		6,112		4		197		31,467		1,804
U.S. credit card	88,695		85,577		3,118		—		—		—		—
Non-U.S. credit card	10,002		—		—		—		—		—		10,002
Direct/Indirect consumer	80,713		39,293		40,619		4		—		—		797
Other consumer	1,847		1,166		16		2		1		—		662
Total consumer	481,202		182,518		101,512		17		198		32,387		164,570
Commercial
U.S. commercial	234,907		17,035		22,572		156,137		34,747		24		4,392
Commercial real estate	48,234		28		1,908		42,163		3,951		—		184
Commercial lease financing	24,495		—		4		25,442		450		—		(1,401		)
Non-U.S. commercial	83,555		—		133		65,765		17,644		—		13
Total commercial	391,191		17,063		24,617		289,507		56,792		24		3,188
Total loans and leases	$	872,393	$	199,581	$	126,129	$	289,524	$	56,990	$	32,411	$	167,758
	Fourth Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	223,132	$	9,306	$	50,537	$	7	$	—	$	931	$	162,351
Home equity	86,825		45,804		6,276		5		189		32,813		1,738
U.S. credit card	89,381		86,193		3,188		—		—		—		—
Non-U.S. credit card	10,950		—		—		—		—		—		10,950
Direct/Indirect consumer	83,121		39,541		39,694		5		14		—		3,867
Other consumer	2,031		1,113		8		2		—		—		908
Total consumer	495,440		181,957		99,703		19		203		33,744		179,814
Commercial
U.S. commercial	231,215		17,228		21,824		153,256		34,426		28		4,453
Commercial real estate	46,996		30		1,875		41,445		3,446		—		200
Commercial lease financing	24,238		—		4		25,105		552		—		(1,423		)
Non-U.S. commercial	86,844		—		138		67,192		19,467		—		47
Total commercial	389,293		17,258		23,841		286,998		57,891		28		3,277
Total loans and leases	$	884,733	$	199,215	$	123,544	$	287,017	$	58,094	$	33,772	$	183,091
	First Quarter 2014
	Total Corporation		Consumer Banking		GWIM		Global Banking		Global Markets		Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	247,560	$	4,364	$	48,236	$	8	$	—	$	963	$	193,989
Home equity	92,755		47,262		6,696		5		168		37,094		1,530
U.S. credit card	89,545		86,270		3,260		—		—		—		15
Non-U.S. credit card	11,554		—		—		—		—		—		11,554
Direct/Indirect consumer	81,728		40,800		35,800		4		45		—		5,079
Other consumer	1,962		791		4		2		—		—		1,165
Total consumer	525,104		179,487		93,996		19		213		38,057		213,332
Commercial
U.S. commercial	228,059		16,910		20,095		150,971		34,719		47		5,317
Commercial real estate	48,753		28		1,698		45,132		1,625		—		270
Commercial lease financing	24,727		—		4		25,427		836		—		(1,540		)
Non-U.S. commercial	92,839		—		152		66,371		26,303		—		13
Total commercial	394,378		16,938		21,949		287,901		63,483		47		4,060
Total loans and leases	$	919,482	$	196,425	$	115,945	$	287,920	$	63,696	$	38,104	$	217,392

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 2015		December 31 2014		March 31 2014		March 31 2015			December 31 2014			March 31 2014
Diversified financials	$	65,579	$	63,306	$	69,137	$	111,306		$	103,528		$	111,172
Real estate (4)	57,930		53,834		55,613		78,357			76,153			77,337
Retailing	34,612		33,683		33,836		58,701			58,043			53,902
Capital goods	29,254		29,028		28,012		54,171			54,653			52,356
Banking	46,539		42,330		42,296		51,732			48,353			49,821
Government and public education	42,894		42,095		40,435		51,066			49,937			48,175
Healthcare equipment and services	31,636		32,923		31,854		49,022			52,450			48,681
Materials	24,586		23,664		23,163		46,503			45,821			42,291
Energy	22,174		23,830		19,835		45,416			47,667			39,846
Food, beverage and tobacco	17,100		16,131		15,359		35,083			34,465			31,379
Consumer services	21,987		21,657		21,147		34,094			33,269			34,010
Commercial services and supplies	18,473		17,997		19,448		30,623			30,451			31,529
Utilities	10,559		9,399		9,404		25,679			25,235			25,346
Transportation	18,050		17,538		15,351		25,655			24,541			22,425
Media	11,615		11,128		13,066		21,596			21,502			23,880
Individuals and trusts	16,723		16,749		15,159		21,568			21,195			18,743
Pharmaceuticals and biotechnology	5,956		5,707		6,052		16,800			13,493			13,111
Software and services	5,542		5,927		6,667		15,052			14,071			13,933
Technology hardware and equipment	5,158		5,489		6,051		14,125			12,350			12,697
Consumer durables and apparel	6,457		6,111		5,797		10,827			10,613			10,002
Automobiles and components	5,203		4,114		3,303		10,479			9,683			8,601
Telecommunication services	3,991		3,814		4,654		10,407			9,295			10,328
Insurance, including monolines	4,758		5,204		5,473		10,402			11,252			11,744
Food and staples retailing	3,812		3,848		4,083		7,482			7,418			7,779
Religious and social organizations	4,692		4,881		5,404		6,215			6,548			7,384
Other	7,249		6,255		5,167		12,704			10,415			8,097
Total commercial credit exposure by industry	$	522,529	$	506,642	$	505,766	$	855,065		$	832,401		$	814,569
Net credit default protection purchased on total commitments (5)							$	(6,720	)	$	(7,302	)	$	(8,341	)

⁽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 $52.7 billion, $47.3 billion and $42.8 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $21.8 billion, $23.8 billion and $16.1 billion, which consists primarily of other marketable securities at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽²⁾  Total commercial utilized and total commercial committed exposure includes loans and letters of credit accounted for under the fair value option and are comprised of loans outstanding of $6.4 billion, $6.6 billion and $8.9 billion and issued letters of credit at notional value of $469 million, $535 million and $576 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $8.4 billion, $9.4 billion and $11.3 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽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 on 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 2015		December 31 2014
Less than or equal to one year	40	%	43	%
Greater than one year and less than or equal to five years	58		55
Greater than five years	2		2
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 in this table.

Net Credit Default Protection by Credit Exposure Debt Rating (1)
(Dollars in millions)
	March 31, 2015					December 31, 2014
Ratings (2, 3)	Net Notional (4)			Percent of Total		Net Notional (4)			Percent of Total
A	$	(1,363	)	20.3	%	$	(1,310	)	17.9	%
BBB	(3,603		)	53.6		(4,207		)	57.6
BB	(1,011		)	15.0		(1,001		)	13.7
B	(569		)	8.5		(643		)	8.8
CCC and below	(168		)	2.5		(131		)	1.8
NR (5)	(6		)	0.1		(10		)	0.2
Total net credit default protection	$	(6,720	)	100.0	%	$	(7,302	)	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⁾  Ratings of BBB- or higher are considered to meet the definition of investment grade.

⁽⁴⁾  Represents net credit default protection (purchased) sold.

⁽⁵⁾  NR is comprised of index positions held and any names that have not been rated.

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
Top 20 Non-U.S. Countries Exposure
(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 2015		Hedges and Credit Default Protection (4)			Net Country Exposure at March 31 2015 (5)		Increase (Decrease) from December 31 2014
United Kingdom	$	24,140	$	10,921	$	8,414	$	6,134	$	49,609	$	(3,285	)	$	46,324	$	777
Canada	6,139		6,922		2,007		4,307		19,375		(1,798		)	17,577		(963		)
Brazil	10,400		777		1,198		4,437		16,812		(330		)	16,482		1,498
Japan	11,068		482		4,127		1,546		17,223		(929		)	16,294		(440		)
Germany	4,902		4,788		4,159		4,996		18,845		(3,435		)	15,410		2,851
India	6,496		369		247		4,622		11,734		(292		)	11,442		856
China	9,698		600		795		1,242		12,335		(912		)	11,423		(869		)
France	2,590		4,956		1,370		4,625		13,541		(3,501		)	10,040		(398		)
Netherlands	3,076		3,808		1,320		1,556		9,760		(1,145		)	8,615		480
Hong Kong	6,037		380		1,009		719		8,145		(13		)	8,132		(476		)
South Korea	3,607		1,081		956		2,596		8,240		(670		)	7,570		1,121
Australia	3,415		1,598		809		2,070		7,892		(675		)	7,217		(456		)
Switzerland	2,933		3,402		1,084		707		8,126		(999		)	7,127		596
Italy	3,151		930		2,430		501		7,012		(2,672		)	4,340		(1,059		)
Singapore	2,207		215		780		959		4,161		(55		)	4,106		102
Spain	2,202		827		222		1,280		4,531		(546		)	3,985		369
Mexico	3,032		256		198		644		4,130		(336		)	3,794		(477		)
Russia	3,648		83		353		100		4,184		(1,360		)	2,824		(785		)
Turkey	2,602		130		24		54		2,810		(141		)	2,669		181
Taiwan	2,078		20		245		112		2,455		(2		)	2,453		(1,412		)
Total top 20 non-U.S. countries exposure	$	113,421	$	42,545	$	31,747	$	43,207	$	230,920	$	(23,096	)	$	207,824	$	1,496

⁽¹⁾  Includes loans, leases, and other extensions of credit and funds, including letters of credit and due from placements, which have not been reduced by collateral, hedges or credit default protection. Funded loans and loan equivalents are reported net of charge-offs but prior to any allowance for loan and lease losses.

⁽²⁾  Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps, and secured financing transactions. Derivative exposures are presented net of $38.3 billion in collateral, which is predominantly cash, pledged under legally enforceable master netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $91.0 billion. Counterparty exposure is not presented net of hedges or credit default protection.

⁽³⁾  Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures and net credit default swaps purchased, consisting of single-name and net indexed and tranched credit default swaps.

⁽⁴⁾  Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, consisting of net single-name and net indexed and tranched credit default swaps. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.

⁽⁵⁾  Represents country exposure less hedges and credit default protection purchased, net of credit default protection sold.

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
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	March 31 2015			December 31 2014			September 30 2014			June 30 2014			March 31 2014
Residential mortgage	$	6,421		$	6,889		$	8,118		$	9,235		$	11,611
Home equity	3,759			3,901			4,026			4,181			4,185
Direct/Indirect consumer	28			28			30			29			32
Other consumer	1			1			14			15			16
Total consumer	10,209			10,819			12,188			13,460			15,844
U.S. commercial	680			701			757			849			841
Commercial real estate	132			321			445			252			300
Commercial lease financing	16			3			7			8			10
Non-U.S. commercial	79			1			45			7			18
	907			1,026			1,254			1,116			1,169
U.S. small business commercial	89			87			98			100			96
Total commercial	996			1,113			1,352			1,216			1,265
Total nonperforming loans and leases	11,205			11,932			13,540			14,676			17,109
Foreclosed properties (1)	896			697			692			624			623
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	12,101		$	12,629		$	14,232		$	15,300		$	17,732
Fully-insured home loans past due 30 days or more and still accruing	$	12,743		$	14,617		$	16,280		$	17,347		$	18,098
Consumer credit card past due 30 days or more and still accruing	1,749			1,884			1,903			1,923			2,115
Other loans past due 30 days or more and still accruing	3,532			3,953			4,326			4,064			5,472
Total loans past due 30 days or more and still accruing (3, 5, 6)	$	18,024		$	20,454		$	22,509		$	23,334		$	25,685
Fully-insured home loans past due 90 days or more and still accruing	$	9,912		$	11,407		$	13,045		$	14,137		$	15,125
Consumer credit card past due 90 days or more and still accruing	883			961			935			990			1,090
Other loans past due 90 days or more and still accruing	173			286			609			523			649
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	10,968		$	12,654		$	14,589		$	15,650		$	16,864
Nonperforming loans, leases and foreclosed properties/Total assets (7)	0.57		%	0.60		%	0.67		%	0.71		%	0.83		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)	1.39			1.45			1.61			1.70			1.96
Nonperforming loans and leases/Total loans and leases (7)	1.29			1.37			1.53			1.63			1.89
Commercial utilized reservable criticized exposure (8)	$	12,303		$	11,570		$	11,766		$	12,430		$	12,781
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (8)	2.85		%	2.74		%	2.79		%	2.92		%	3.01		%
Total commercial utilized criticized exposure/Commercial utilized exposure (8)	2.99			2.97			2.97			3.15			3.21

⁽¹⁾  Foreclosed property balances do not include loans that are insured by the Federal Housing Administration and have entered foreclosure of $1.2 billion, $1.1 billion, $1.1 billion, $1.1 billion and $1.1 billion at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.

⁽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 2015		December 31 2014		September 30 2014		June 30 2014		March 31 2014
Nonperforming loans held-for-sale	$	344	$	219	$	255	$	598	$	293
Nonperforming loans accounted for under the fair value option	380		392		436		427		431
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	86		102		101		140		257

⁽⁵⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $125 million, $475 million, $42 million, $37 million and $80 million at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively, and loans held-for-sale past due 90 days or more and still accruing of $44 million, $249 million, $0, $0 and $6 million at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively. At March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, there were $132 million, $147 million, $147 million, $153 million and $129 million, respectively, of loans accounted for under the fair value option past due 30 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 $8.5 billion, $8.7 billion, $8.2 billion, $10.9 billion and $11.1 billion at March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, 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. 37

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	10,819		$	12,188		$	13,460		$	15,844		$	15,840
Additions to nonperforming loans and leases:
New nonperforming loans and leases	1,469			1,709			1,516			1,825			2,027
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(253		)	(310		)	(522		)	(325		)	(468		)
Sales	(371		)	(1,347		)	(957		)	(1,825		)	—
Returns to performing status (2)	(867		)	(728		)	(810		)	(939		)	(800		)
Charge-offs (3)	(460		)	(533		)	(431		)	(640		)	(583		)
Transfers to foreclosed properties	(128		)	(160		)	(183		)	(157		)	(172		)
Transfers (to) from loans held-for-sale	—			—			115			(323		)	—
Total net additions (reductions) to nonperforming loans and leases	(610		)	(1,369		)	(1,272		)	(2,384		)	4
Total nonperforming consumer loans and leases, end of period	10,209			10,819			12,188			13,460			15,844
Foreclosed properties	632			630			614			547			538
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	10,841		$	11,449		$	12,802		$	14,007		$	16,382
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,113		$	1,352		$	1,216		$	1,265		$	1,309
Additions to nonperforming loans and leases:
New nonperforming loans and leases	287			214			477			275			262
Advances	2			6			33			1			8
Reductions to nonperforming loans and leases:
Paydowns	(110		)	(202		)	(161		)	(183		)	(171		)
Sales	(16		)	(81		)	(12		)	(29		)	(27		)
Return to performing status (5)	(24		)	(77		)	(80		)	(41		)	(63		)
Charge-offs	(51		)	(95		)	(116		)	(71		)	(50		)
Transfers to foreclosed properties	(205		)	(4		)	(5		)	(1		)	(3		)
Total net additions (reductions) to nonperforming loans and leases	(117		)	(239		)	136			(49		)	(44		)
Total nonperforming commercial loans and leases, end of period	996			1,113			1,352			1,216			1,265
Foreclosed properties	264			67			78			77			85
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,260		$	1,180		$	1,430		$	1,293		$	1,350

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 37.

⁽²⁾  Consumer 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. Certain troubled debt restructurings are classified as nonperforming at the time of restructuring and may only be returned to performing status after considering the borrower's sustained repayment performance for a reasonable period, generally six months.

⁽³⁾  Our policy is not to classify consumer credit card and non-bankruptcy related 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.

⁽⁴⁾  Includes U.S. small business commercial activity. Small business card loans are excluded as they are not classified as nonperforming.

⁽⁵⁾  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.

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
Quarterly Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	First Quarter 2015					Fourth Quarter 2014					Third Quarter 2014					Second Quarter 2014					First Quarter 2014
Net Charge-offs	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage (3)	$	197		0.37	%	$	(259	)	(0.46	)%	$	53		0.09	%	$	(35	)	(0.06	)%	$	127		0.21	%
Home equity	172			0.82		277			1.27		89			0.40		239			1.06		302			1.32
U.S. credit card	621			2.84		612			2.71		625			2.79		683			3.11		718			3.25
Non-U.S. credit card	44			1.80		52			1.90		67			2.26		47			1.59		76			2.66
Direct/Indirect consumer	34			0.17		44			0.21		34			0.17		33			0.16		58			0.29
Other consumer	49			10.88		68			13.31		56			10.48		47			9.26		58			12.07
Total consumer	1,117			0.95		794			0.64		924			0.72		1,014			0.79		1,339			1.04
U.S. commercial (4)	7			0.01		19			0.04		58			0.11		6			0.01		5			0.01
Commercial real estate	5			0.04		(8		)	(0.07	)	(6		)	(0.05	)	(32		)	(0.27	)	(37		)	(0.31	)
Commercial lease financing	5			0.09		1			0.02		(3		)	(0.05	)	(5		)	(0.07	)	(2		)	(0.04	)
Non-U.S. commercial	(2		)	(0.01	)	2			0.01		1			—		12			0.06		19			0.09
	15			0.02		14			0.02		50			0.05		(19		)	(0.02	)	(15		)	(0.02	)
U.S. small business commercial	62			1.90		71			2.10		69			2.03		78			2.34		64			1.95
Total commercial	77			0.08		85			0.09		119			0.12		59			0.06		49			0.05
Total net charge-offs	$	1,194		0.56		$	879		0.40		$	1,043		0.46		$	1,073		0.48		$	1,388		0.62
By Business Segment
Consumer Banking	$	806		1.64	%	$	832		1.66	%	$	815		1.64	%	$	894		1.83	%	$	956		1.97	%
Global Wealth & Investment Management	18			0.06		36			0.12		6			0.02		4			0.01		25			0.09
Global Banking	6			0.01		2			—		52			0.07		(8		)	(0.01	)	(15		)	(0.02	)
Global Markets	—			—		—			—		—			—		3			0.02		(1		)	(0.01	)
Legacy Assets & Servicing	122			1.56		199			2.40		42			0.48		169			1.90		217			2.37
All Other	242			0.59		(190		)	(0.41	)	128			0.26		11			0.02		206			0.39
Total net charge-offs	$	1,194		0.56		$	879		0.40		$	1,043		0.46		$	1,073		0.48		$	1,388		0.62

⁽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. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.57, 0.41, 0.48, 0.49 and 0.64 for the three months ended March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $288 million, $13 million, $246 million, $160 million and $391 million for the three months ended March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.70, 0.40, 0.57, 0.55 and 0.79 for the three months ended March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014, respectively.

⁽³⁾  Includes nonperforming loan sales recoveries and other recoveries of $40 million, $314 million, $39 million and $185 million for the three months ended March 31, 2015, December 31, 2014, September 30, 2014 and June 30, 2014, respectively.

⁽⁴⁾  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. 39

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	March 31, 2015						December 31, 2014						March 31, 2014
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)
Residential mortgage	$	2,426	17.74	%	1.17	%	$	2,900	20.11	%	1.34	%	$	3,502	21.07	%	1.44	%
Home equity	2,824		20.65		3.38		3,035		21.05		3.54		4,054		24.40		4.43
U.S. credit card	3,252		23.78		3.73		3,320		23.03		3.61		3,857		23.21		4.40
Non-U.S. credit card	343		2.51		3.55		369		2.56		3.53		432		2.60		3.74
Direct/Indirect consumer	282		2.06		0.34		299		2.07		0.37		389		2.34		0.48
Other consumer	52		0.38		2.79		59		0.41		3.15		97		0.58		4.86
Total consumer	9,179		67.12		1.94		9,982		69.23		2.05		12,331		74.20		2.38
U.S. commercial (3)	2,633		19.25		1.11		2,619		18.16		1.12		2,563		15.43		1.12
Commercial real estate	1,031		7.54		2.09		1,016		7.05		2.13		972		5.85		1.99
Commercial lease financing	150		1.10		0.61		153		1.06		0.62		122		0.73		0.50
Non-U.S. commercial	683		4.99		0.80		649		4.50		0.81		630		3.79		0.74
Total commercial (4)	4,497		32.88		1.13		4,437		30.77		1.15		4,287		25.80		1.11
Allowance for loan and lease losses	13,676		100.00	%	1.57		14,419		100.00	%	1.65		16,618		100.00	%	1.84
Reserve for unfunded lending commitments	537						528						509
Allowance for credit losses	$	14,213					$	14,947					$	17,127
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (2)			1.57	%					1.65	%					1.84	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) (2, 5)			1.45						1.50						1.65
Allowance for loan and lease losses/Total nonperforming loans and leases (6)			122						121						97
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (5)			110						107						85
Ratio of the allowance for loan and lease losses/Annualized net charge-offs (7)			2.82						4.14						2.95
Ratio of the allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Annualized net charge-offs (5, 7)			2.55						3.66						2.58
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs			2.28						4.08						2.30

⁽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 included residential mortgage loans of $1.9 billion, $1.9 billion and $2.0 billion and home equity loans of $205 million, $196 million and $152 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $2.0 billion, $1.9 billion and $1.4 billion and non-U.S. commercial loans of $4.5 billion, $4.7 billion and $7.5 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $8.5 billion, $8.7 billion and $11.1 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽³⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $533 million, $536 million and $462 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁴⁾  Includes allowance for loan and lease losses for impaired commercial loans of $155 million, $159 million and $277 million at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁵⁾  Excludes valuation allowance on purchased credit-impaired loans of $1.3 billion, $1.7 billion and $2.1 billion at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁶⁾  Allowance for loan and lease losses includes $5.5 billion, $5.9 billion and $7.1 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at March 31, 2015, December 31, 2014 and March 31, 2014, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 73 percent, 71 percent and 55 percent at March 31, 2015, December 31, 2014 and March 31, 2014, respectively.

⁽⁷⁾  Net charge-offs exclude $288 million, $13 million and $391 million of write-offs in the purchased credit-impaired loan portfolio at March 31, 2015, December 31, 2014 and March 31, 2014. These write-offs decreased the purchased credit-impaired valuation allowance included as part of the allowance for loan and lease losses.

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

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. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. 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 measures 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. Tangible equity represents an adjusted shareholders' equity or common shareholders' equity amount which has been reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible common shareholders' equity measures the Corporation's earnings contribution as a percentage of adjusted average common shareholders' equity. The tangible common equity ratio represents adjusted ending common shareholders' equity divided by total assets 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 adjusted average total shareholders' equity. The tangible equity ratio represents adjusted ending shareholders' equity 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 adjusted ending common shareholders' equity divided by ending common shares outstanding. These measures are used to evaluate the Corporation's use of equity. 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 measures that utilize average allocated capital. The Corporation allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return both represent non-GAAP financial measures. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, business segment exposures and risk profile, regulatory constraints and strategic plans. As part of this process, in the first quarter of 2015, the Corporation adjusted the amount of capital being allocated to its business segments. This change resulted in no change of the unallocated capital, which is reflected in All Other, and an aggregate increase to the amount of capital being allocated to the business segments. Prior periods were not restated.

See the tables below and on pages 42-44 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the three months ended March 31, 2015, December 31, 2014, September 30, 2014, June 30, 2014 and March 31, 2014. 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 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	9,451		$	9,635		$	10,219		$	10,013		$	10,085
Fully taxable-equivalent adjustment	219			230			225			213			201
Net interest income on a fully taxable-equivalent basis	$	9,670		$	9,865		$	10,444		$	10,226		$	10,286
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	$	21,202		$	18,725		$	21,209		$	21,747		$	22,566
Fully taxable-equivalent adjustment	219			230			225			213			201
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	21,421		$	18,955		$	21,434		$	21,960		$	22,767
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	1,385		$	1,260		$	663		$	504		$	(405	)
Fully taxable-equivalent adjustment	219			230			225			213			201
Income tax expense (benefit) on a fully taxable-equivalent basis	$	1,604		$	1,490		$	888		$	717		$	(204	)
Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	225,357		$	224,479		$	222,374		$	222,221		$	223,207
Goodwill	(69,776		)	(69,782		)	(69,792		)	(69,822		)	(69,842		)
Intangible assets (excluding mortgage servicing rights)	(4,518		)	(4,747		)	(4,992		)	(5,235		)	(5,474		)
Related deferred tax liabilities	1,959			2,019			2,077			2,100			2,165
Tangible common shareholders' equity	$	153,022		$	151,969		$	149,667		$	149,264		$	150,056
Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	245,744		$	243,454		$	238,040		$	235,803		$	236,559
Goodwill	(69,776		)	(69,782		)	(69,792		)	(69,822		)	(69,842		)
Intangible assets (excluding mortgage servicing rights)	(4,518		)	(4,747		)	(4,992		)	(5,235		)	(5,474		)
Related deferred tax liabilities	1,959			2,019			2,077			2,100			2,165
Tangible shareholders' equity	$	173,409		$	170,944		$	165,333		$	162,846		$	163,408

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 (continued)
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	227,915		$	224,162		$	220,768		$	222,565		$	218,536
Goodwill	(69,776		)	(69,777		)	(69,784		)	(69,810		)	(69,842		)
Intangible assets (excluding mortgage servicing rights)	(4,391		)	(4,612		)	(4,849		)	(5,099		)	(5,337		)
Related deferred tax liabilities	1,900			1,960			2,019			2,078			2,100
Tangible common shareholders' equity	$	155,648		$	151,733		$	148,154		$	149,734		$	145,457
Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	250,188		$	243,471		$	238,681		$	237,411		$	231,888
Goodwill	(69,776		)	(69,777		)	(69,784		)	(69,810		)	(69,842		)
Intangible assets (excluding mortgage servicing rights)	(4,391		)	(4,612		)	(4,849		)	(5,099		)	(5,337		)
Related deferred tax liabilities	1,900			1,960			2,019			2,078			2,100
Tangible shareholders' equity	$	177,921		$	171,042		$	166,067		$	164,580		$	158,809
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,143,545		$	2,104,534		$	2,123,613		$	2,170,557		$	2,149,851
Goodwill	(69,776		)	(69,777		)	(69,784		)	(69,810		)	(69,842		)
Intangible assets (excluding mortgage servicing rights)	(4,391		)	(4,612		)	(4,849		)	(5,099		)	(5,337		)
Related deferred tax liabilities	1,900			1,960			2,019			2,078			2,100
Tangible assets	$	2,071,278		$	2,032,105		$	2,050,999		$	2,097,726		$	2,076,772

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 2015			Fourth Quarter 2014			Third Quarter 2014			Second Quarter 2014			First Quarter 2014
Reconciliation of return on average allocated capital(1)
Consumer Banking
Reported net income	$	1,475		$	1,661		$	1,678		$	1,634		$	1,468
Adjustment related to intangibles (2)	1			1			1			1			1
Adjusted net income	$	1,476		$	1,662		$	1,679		$	1,635		$	1,469
Average allocated equity (3)	$	59,348		$	60,367		$	60,386		$	60,403		$	60,417
Adjustment related to goodwill and a percentage of intangibles	(30,348		)	(30,367		)	(30,386		)	(30,403		)	(30,417		)
Average allocated capital	$	29,000		$	30,000		$	30,000		$	30,000		$	30,000
Global Wealth & Investment Management
Reported net income	$	651		$	706		$	813		$	726		$	729
Adjustment related to intangibles (2)	3			4			3			3			3
Adjusted net income	$	654		$	710		$	816		$	729		$	732
Average allocated equity (3)	$	22,168		$	22,186		$	22,204		$	22,222		$	22,243
Adjustment related to goodwill and a percentage of intangibles	(10,168		)	(10,186		)	(10,204		)	(10,222		)	(10,243		)
Average allocated capital	$	12,000		$	12,000		$	12,000		$	12,000		$	12,000
Global Banking
Reported net income	$	1,365		$	1,511		$	1,511		$	1,442		$	1,291
Adjustment related to intangibles (2)	—			—			1			—			1
Adjusted net income	$	1,365		$	1,511		$	1,512		$	1,442		$	1,292
Average allocated equity (3)	$	58,944		$	57,446		$	57,449		$	57,451		$	57,453
Adjustment related to goodwill and a percentage of intangibles	(23,944		)	(23,946		)	(23,949		)	(23,951		)	(23,953		)
Average allocated capital	$	35,000		$	33,500		$	33,500		$	33,500		$	33,500
Global Markets
Reported net income (loss)	$	945		$	(72	)	$	373		$	1,105		$	1,313
Adjustment related to intangibles (2)	2			3			2			2			2
Adjusted net income (loss)	$	947		$	(69	)	$	375		$	1,107		$	1,315
Average allocated equity (3)	$	40,364		$	39,369		$	39,374		$	39,376		$	39,377
Adjustment related to goodwill and a percentage of intangibles	(5,364		)	(5,369		)	(5,374		)	(5,376		)	(5,377		)
Average allocated capital	$	35,000		$	34,000		$	34,000		$	34,000		$	34,000

For footnotes see page 44.

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 2015			Fourth Quarter 2014			First Quarter 2014
Consumer Banking
Deposits
Reported net income	$	538		$	568		$	561
Adjustment related to intangibles (2)	—			—			—
Adjusted net income	$	538		$	568		$	561
Average allocated equity (3)	$	30,424		$	29,426		$	29,425
Adjustment related to goodwill and a percentage of intangibles	(18,424		)	(18,426		)	(18,425		)
Average allocated capital	$	12,000		$	11,000		$	11,000
Consumer Lending
Reported net income	$	937		$	1,093		$	907
Adjustment related to intangibles (2)	1			1			1
Adjusted net income	$	938		$	1,094		$	908
Average allocated equity (3)	$	28,923		$	30,941		$	30,993
Adjustment related to goodwill and a percentage of intangibles	(11,923		)	(11,941		)	(11,993		)
Average allocated capital	$	17,000		$	19,000		$	19,000

⁽¹⁾  There are no adjustments to reported net income (loss) or average allocated equity for Legacy Assets & Servicing.

⁽²⁾  Represents cost of funds, earnings credits and certain expenses related to intangibles.

⁽³⁾  Average allocated equity is comprised of average allocated capital plus capital for the portion of goodwill and intangibles specifically assigned to the business segment.

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