Supplemental Information

EX-99.2 3 dex992.htm SUPPLEMENTAL INFORMATION Supplemental Information

Exhibit 99.2

LOGO

Supplemental Information

Second Quarter 2009

This information is preliminary and based on company data available at the time of the 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 Balance Sheet		5
Capital Management		6
Preferred Stock Issued Excluding Issuances to the U.S. Government		7
Core Net Interest Income - Managed Basis		8
Quarterly Average Balances and Interest Rates		9
Quarterly Average Balances and Interest Rates - Isolating Hedge Income/Expense		10
Year-to-Date Average Balances and Interest Rates		11
Year-to-Date Average Balances and Interest Rates - Isolating Hedge Income/Expense		12
Debt Securities and Available-for-Sale Marketable Equity Securities		13
Quarterly Results by Business Segment		14
Year-to-Date Results by Business Segment		15
Deposits
Total Segment Results		16
Key Indicators		17
Global Card Services
Total Segment Results		18
Key Indicators		19
Home Loans & Insurance
Total Segment Results		20
Key Indicators		21
Global Banking
Total Segment Results		22
Key Indicators		23
Investment Banking Product Rankings		24
Global Markets
Total Segment Results		25
Off-Balance Sheet Special Purpose Entities Liquidity Exposure		26
Super Senior Collateralized Debt Obligation Exposure		27
Unhedged Subprime Super Senior Collateralized Debt Obligation Carrying Values		28
Global Wealth & Investment Management
Total Segment Results		29
Quarter-to-Date Business Results		30
Year-to-Date Business Results		31
Key Indicators		32
All Other
Total Segment Results		33
Equity Investments		34
Outstanding Loans and Leases		35
Quarterly Average Loans and Leases by Business Segment		36
Commercial Credit Exposure by Industry		37
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating		38
Selected Emerging Markets		39
Nonperforming Assets		40
Nonperforming Asset Activity		41
Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios		42
YTD Net Charge-offs/Losses and Net Charge-off/Loss Ratios		43
Allocation of the Allowance for Credit Losses by Product Type		44

Exhibit A: Non-GAAP Reconciliations		45

Appendix: Selected Slides from the Second Quarter 2009 Earnings Release Presentation		47

Bank of America Corporation and Subsidiaries

Consolidated Financial Highlights

(Dollars in millions, except per share information; shares in thousands)


	Six Months Ended June 30						Second Quarter 2009				First Quarter 2009			Fourth Quarter 2008⁽¹⁾				Third Quarter 2008			Second Quarter 2008
	2009			2008			Second Quarter 2009				First Quarter 2009			Fourth Quarter 2008⁽¹⁾				Third Quarter 2008			Second Quarter 2008
Income statement
Net interest income	$	24,127		$	20,612		$	11,630			$	12,497		$	13,106			$	11,642		$	10,621
Noninterest income		44,405			16,869			21,144				23,261			2,574				7,979			9,789
Total revenue, net of interest expense		68,532			37,481			32,774				35,758			15,680				19,621			20,410
Provision for credit losses		26,755			11,840			13,375				13,380			8,535				6,450			5,830
Noninterest expense, before merger and restructuring charges		32,428			18,540			16,191				16,237			10,641				11,413			9,447
Merger and restructuring charges		1,594			382			829				765			306				247			212
Income tax expense (benefit)		284			2,099			(845	)			1,129			(2,013	)			334			1,511
Net income (loss)		7,471			4,620			3,224				4,247			(1,789	)			1,177			3,410
Preferred stock dividends		2,238			376			805				1,433			603				473			186
Net income (loss) applicable to common shareholders		5,233			4,244			2,419				2,814			(2,392	)			704			3,224
Diluted earnings (loss) per common share		0.75			0.95			0.33				0.44			(0.48	)			0.15			0.72
Average diluted common shares issued and outstanding		6,836,972			4,445,428			7,269,518				6,431,027			4,957,049				4,547,578			4,444,098
Dividends paid per common share	$	0.02		$	1.28		$	0.01			$	0.01		$	0.32			$	0.64		$	0.64

Performance ratios
Return on average assets		0.61	%		0.53	%		0.53		%		0.68	%		n/m		%		0.25	%		0.78	%
Return on average common shareholders’ equity		6.31			6.06			5.59				7.10			n/m				1.97			9.25
Return on average tangible common shareholders’ equity ⁽²⁾		20.47			16.87			16.90				24.37			n/m				8.92			25.17
Return on average tangible shareholders’ equity ⁽²⁾		10.59			12.85			8.86				12.42			n/m				6.11			18.12
At period end
Book value per share of common stock	$	22.71		$	31.11		$	22.71			$	25.98		$	27.77			$	30.01		$	31.11
Tangible book value per share of common stock ⁽²⁾		11.66			11.87			11.66				10.88			10.11				10.50			11.87
Market price per share of common stock:
Closing price	$	13.20		$	23.87		$	13.20			$	6.82		$	14.08			$	35.00		$	23.87
High closing price for the period		14.33			45.03			14.17				14.33			38.13				37.48			40.86
Low closing price for the period		3.14			23.87			7.05				3.14			11.25				18.52			23.87
Market capitalization		114,199			106,292			114,199				43,654			70,645				159,672			106,292

Number of banking centers - domestic		6,109			6,131			6,109				6,145			6,139				6,139			6,131
Number of branded ATMs - domestic		18,426			18,531			18,426				18,532			18,685				18,584			18,531
Full-time equivalent employees		282,408			206,587			282,408				286,625			240,202				247,024			206,587

(1)

Due to a net loss for the three months ended December 31, 2008, the impact of antidilutive equity instruments were excluded from diluted earnings per share and average diluted common shares.

(2)

Tangible equity ratios and tangible book value per share of common stock are non-GAAP measures. For corresponding reconciliations of average tangible common shareholders’ equity and tangible shareholders’ equity to GAAP financial measures, see Supplemental Financial Data on page 3. We believe the use of these non-GAAP measures provide additional clarity in assessing the results of the Corporation.

n/m = not meaningful

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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 basis data


	Six Months Ended June 30								Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008				2009				2009				2008				2008				2008
Net interest income	$	24,761			$	21,228			$	11,942			$	12,819			$	13,406			$	11,920			$	10,937
Total revenue, net of interest expense		69,166				38,097				33,086				36,080				15,980				19,899				20,726
Net interest yield		2.67		%		2.83		%		2.64		%		2.70		%		3.31		%		2.93		%		2.92		%
Efficiency ratio		49.19				49.67				51.44				47.12				68.51				58.60				46.60
Reconciliation to GAAP financial measures The Corporation evaluates its business based upon ratios that utilize tangible equity which is a non-GAAP measure. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio and the tangible common equity ratio represent shareholders’ equity, common or total as applicable, less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. These measures are used to evaluate the Corporation’s use of equity (i.e., capital). In addition, profitability, relationship, and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals. Also, the efficiency ratio measures the costs expended to generate a dollar of revenue. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently. See the tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the three months ended June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, and the six months ended June 30, 2009 and 2008. Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	235,855			$	158,078			$	242,867			$	228,766			$	176,566			$	166,454			$	161,428
Goodwill		(85,956	)			(77,721	)			(87,314	)			(84,584	)			(81,841	)			(81,977	)			(77,815	)
Intangible assets (excluding MSRs)		(11,539	)			(9,824	)			(13,595	)			(9,461	)			(8,818	)			(9,547	)			(9,618	)
Related deferred tax liabilities		3,946				1,766				3,916				3,977				1,913				1,683				1,687

Tangible shareholders’ equity	$	142,306			$	72,299			$	145,874			$	138,698			$	87,820			$	76,613			$	75,682

Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	167,153			$	140,849			$	173,497			$	160,739			$	142,535			$	142,303			$	140,243
Goodwill		(85,956	)			(77,721	)			(87,314	)			(84,584	)			(81,841	)			(81,977	)			(77,815	)
Intangible assets (excluding MSRs)		(11,539	)			(9,824	)			(13,595	)			(9,461	)			(8,818	)			(9,547	)			(9,618	)
Related deferred tax liabilities		3,946				1,766				3,916				3,977				1,913				1,683				1,687

Tangible common shareholders’ equity	$	73,604			$	55,070			$	76,504			$	70,671			$	53,789			$	52,462			$	54,497

Reconciliation of period end shareholders’ equity to period end tangible shareholders’ equity
Shareholders’ equity	$	255,152			$	162,691			$	255,152			$	239,549			$	177,052			$	161,039			$	162,691
Goodwill		(86,246	)			(77,760	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)			(77,760	)
Intangible assets (excluding MSRs)		(13,245	)			(9,603	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)			(9,603	)
Related deferred tax liabilities		3,843				1,679				3,843				3,958				1,854				1,914				1,679

Tangible shareholders’ equity	$	159,504			$	77,007			$	159,504			$	142,894			$	88,437			$	72,030			$	77,007

Reconciliation of period end common shareholders’ equity to period end tangible common shareholders’ equity
Common shareholders’ equity	$	196,492			$	138,540			$	196,492			$	166,272			$	139,351			$	136,888			$	138,540
Goodwill		(86,246	)			(77,760	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)			(77,760	)
Intangible assets (excluding MSRs)		(13,245	)			(9,603	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)			(9,603	)
Related deferred tax liabilities		3,843				1,679				3,843				3,958				1,854				1,914				1,679

Tangible common shareholders’ equity	$	100,844			$	52,856			$	100,844			$	69,617			$	50,736			$	47,879			$	52,856

Reconciliation of period end assets to period end tangible assets
Assets	$	2,254,394			$	1,716,875			$	2,254,394			$	2,321,963			$	1,817,943			$	1,831,177			$	1,716,875
Goodwill		(86,246	)			(77,760	)			(86,246	)			(86,910	)			(81,934	)			(81,756	)			(77,760	)
Intangible assets (excluding MSRs)		(13,245	)			(9,603	)			(13,245	)			(13,703	)			(8,535	)			(9,167	)			(9,603	)
Related deferred tax liabilities		3,843				1,679				3,843				3,958				1,854				1,914				1,679

Tangible assets	$	2,158,746			$	1,631,191			$	2,158,746			$	2,225,308			$	1,729,328			$	1,742,168			$	1,631,191

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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)


	Six Months Ended June 30					Second Quarter 2009			First Quarter 2009		Fourth Quarter 2008 ⁽¹⁾			Third Quarter 2008			Second Quarter 2008
	2009		2008			Second Quarter 2009			First Quarter 2009		Fourth Quarter 2008 ⁽¹⁾			Third Quarter 2008			Second Quarter 2008
Interest income
Interest and fees on loans and leases	$	25,678	$	27,536		$	12,329		$	13,349	$	14,220		$	14,261		$	13,121
Interest on debt securities		7,113		5,674			3,283			3,830		3,851			3,621			2,900
Federal funds sold and securities borrowed or purchased under agreements to resell		1,845		2,008			690			1,155		393			912			800
Trading account assets		4,380		4,593			1,952			2,428		2,120			2,344			2,229
Other interest income		2,732		2,075			1,338			1,394		1,018			1,058			977

Total interest income		41,748		41,886			19,592			22,156		21,602			22,196			20,027

Interest expense
Deposits		4,625		8,108			2,082			2,543		3,296			3,846			3,520
Short-term borrowings		3,617		7,229			1,396			2,221		1,910			3,223			3,087
Trading account liabilities		1,029		1,589			450			579		524			661			749
Long-term debt		8,350		4,348			4,034			4,316		2,766			2,824			2,050

Total interest expense		17,621		21,274			7,962			9,659		8,496			10,554			9,406

Net interest income		24,127		20,612			11,630			12,497		13,106			11,642			10,621

Noninterest income
Card income		5,014		7,090			2,149			2,865		3,102			3,122			3,451
Service charges		5,262		5,035			2,729			2,533		2,559			2,722			2,638
Investment and brokerage services		5,957		2,662			2,994			2,963		1,072			1,238			1,322
Investment banking income		2,701		1,171			1,646			1,055		618			474			695
Equity investment income (loss)		7,145		1,646			5,943			1,202		(791	)		(316	)		592
Trading account profits (losses)		7,365		(1,426	)		2,164			5,201		(4,101	)		(384	)		357
Mortgage banking income		5,841		890			2,527			3,314		1,523			1,674			439
Insurance income		1,350		414			662			688		741			678			217
Gains on sales of debt securities		2,130		352			632			1,498		762			10			127
Other income (loss)		1,640		(965	)		(302	)		1,942		(2,911	)		(1,239	)		(49	)

Total noninterest income		44,405		16,869			21,144			23,261		2,574			7,979			9,789

Total revenue, net of interest expense		68,532		37,481			32,774			35,758		15,680			19,621			20,410

Provision for credit losses		26,755		11,840			13,375			13,380		8,535			6,450			5,830

Noninterest expense
Personnel		16,558		9,146			7,790			8,768		4,027			5,198			4,420
Occupancy		2,347		1,697			1,219			1,128		1,003			926			848
Equipment		1,238		768			616			622		447			440			372
Marketing		1,020		1,208			499			521		555			605			571
Professional fees		949		647			544			405		521			424			362
Amortization of intangibles		1,036		893			516			520		477			464			447
Data processing		1,269		1,150			621			648		641			755			587
Telecommunications		672		526			345			327		292			288			266
Other general operating		7,339		2,505			4,041			3,298		2,678			2,313			1,574
Merger and restructuring charges		1,594		382			829			765		306			247			212

Total noninterest expense		34,022		18,922			17,020			17,002		10,947			11,660			9,659

Income (loss) before income taxes		7,755		6,719			2,379			5,376		(3,802	)		1,511			4,921
Income tax expense (benefit)		284		2,099			(845	)		1,129		(2,013	)		334			1,511

Net income (loss)	$	7,471	$	4,620		$	3,224		$	4,247	$	(1,789	)	$	1,177		$	3,410

Preferred stock dividends		2,238		376			805			1,433		603			473			186

Net income (loss) applicable to common shareholders	$	5,233	$	4,244		$	2,419		$	2,814	$	(2,392	)	$	704		$	3,224


Per common share information
Earnings (loss)	$	0.75	$	0.95		$	0.33		$	0.44	$	(0.48	)	$	0.15		$	0.72
Diluted earnings (loss)		0.75		0.95			0.33			0.44		(0.48	)		0.15			0.72
Dividends paid		0.02		1.28			0.01			0.01		0.32			0.64			0.64

Average common shares issued and outstanding		6,808,262		4,431,870			7,241,515			6,370,815		4,957,049			4,543,963			4,435,719

Average diluted common shares issued and outstanding		6,836,972		4,445,428			7,269,518			6,431,027		4,957,049			4,547,578			4,444,098

(1)

Due to a net loss for the three months ended December 31, 2008, the impact of antidilutive equity instruments were excluded from diluted earnings per share and average diluted common shares.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet

(Dollars in millions)


	June 30 2009			March 31 2009			June 30 2008
Assets
Cash and cash equivalents	$	140,366		$	173,460		$	39,127
Time deposits placed and other short-term investments		25,710			23,947			7,649
Federal funds sold and securities borrowed or purchased under agreements to resell		184,685			153,230			107,070
Trading account assets		199,471			203,131			167,837
Derivative assets		101,707			137,311			42,039
Debt securities:
Available-for-sale		257,519			254,194			248,591
Held-to-maturity, at cost		9,719			8,444			1,268
Total debt securities		267,238			262,638			249,859
Loans and leases, net of allowance:
Loans and leases		942,248			977,008			870,464
Allowance for loan and lease losses		(33,785	)		(29,048	)		(17,130	)
Total loans and leases, net of allowance		908,463			947,960			853,334
Premises and equipment, net		15,667			15,549			11,627
Mortgage servicing rights (includes $18,535, $14,096 and $4,250 measured at fair value)		18,857			14,425			4,577
Goodwill		86,246			86,910			77,760
Intangible assets		13,245			13,703			9,603
Loans held-for-sale		50,994			40,214			23,630
Other assets		241,745			249,485			122,763
Total assets	$	2,254,394		$	2,321,963		$	1,716,875

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	248,757		$	233,902		$	199,587
Interest-bearing		650,725			639,616			497,631
Deposits in foreign offices:
Noninterest-bearing		4,560			4,133			3,432
Interest-bearing		66,700			75,857			84,114
Total deposits		970,742			953,508			784,764
Federal funds purchased and securities loaned or sold under agreements to repurchase		263,639			246,734			238,123
Trading account liabilities		53,384			52,993			70,806
Derivative liabilities		51,300			76,582			21,095
Commercial paper and other short-term borrowings		96,236			185,816			177,753
Accrued expenses and other liabilities (includes $1,992, $2,102 and $507 of reserve for unfunded lending commitments)		116,754			126,030			55,038
Long-term debt		447,187			440,751			206,605
Total liabilities		1,999,242			2,082,414			1,554,184
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 5,760,731, 9,778,142 and 7,602,067 shares		58,660			73,277			24,151
Common stock and additional paid-in capital, $0.01 par value; authorized - 10,000,000,000, 10,000,000,000, and 7,500,000,000 shares; issued and outstanding - 8,651,459,122, 6,400,949,995 and 4,452,947,217 shares		128,717			100,864			61,109
Retained earnings		79,210			76,877			79,920
Accumulated other comprehensive income (loss)		(11,227	)		(11,164	)		(1,864	)
Other		(208	)		(305	)		(625	)
Total shareholders’ equity		255,152			239,549			162,691
Total liabilities and shareholders’ equity	$	2,254,394		$	2,321,963		$	1,716,875

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Capital Management

(Dollars in millions)


	Second Quarter 2009⁽¹⁾			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
Risk-based capital:
Tier 1 capital	$	190,874		$	171,061		$	120,814		$	100,248		$	101,439
Tier 1 common		110,383			76,145			63,339			56,139			58,853
Total capital		255,701			237,905			171,661			153,318			154,983
Risk-weighted assets		1,599,569			1,695,192			1,320,824			1,328,084			1,230,307
Tier 1 capital ratio		11.93	%		10.09	%		9.15	%		7.55	%		8.25	%
Tier 1 common equity ratio ⁽²⁾		6.90			4.49			4.80			4.23			4.78
Total capital ratio		15.99			14.03			13.00			11.54			12.60
Tier 1 leverage ratio		8.21			7.07			6.44			5.51			6.07
Tangible equity ratio ⁽³⁾		7.39			6.42			5.11			4.13			4.72
Tangible common equity ratio ⁽³⁾		4.67			3.13			2.93			2.75			3.24

(1)

Preliminary data on risk-based capital

(2)

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

(3)

Tangible equity ratio equals period end tangible shareholders’ equity divided by period end tangible assets. Tangible common equity equals period end tangible common shareholders’ equity divided by period end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP measures. For corresponding reconciliations of tangible shareholders’ equity and tangible assets to GAAP financial measures, see Supplemental Financial Data on page 3. We believe the use of these non-GAAP measures provide additional clarity in assessing the results of the Corporation.

LOGO

Preliminary data on risk-based capital

Outstanding Common Stock

No common shares were repurchased in the second quarter of 2009.

75.0 million shares remain outstanding under the 2008 authorized program.

574 thousand shares were issued in the second quarter of 2009 under employee stock plans. In addition, approximately 2.25 billion shares were issued to raise capital in the second quarter of 2009, including 1.00 billion shares that were exchanged for preferred stock. The remaining 1.25 billion shares were raised through an at-the-market offering completed during the second quarter of 2009. Combined, these actions benefited the Tier 1 common equity ratio by approximately 185 bps.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Preferred Stock Issued Excluding Issuances to the U.S. Government

(Dollars in millions)


	Notional Amount ⁽¹⁾				Third Quarter 2009 Dividends ⁽²⁾
Preferred Stock	June 30 2009		March 31 2009		Third Quarter 2009 Dividends ⁽²⁾
Series B	$	1	$	1	$	—
Series D		661		825		10
Series E		487		2,025		5
Series H		2,862		2,925		59
Series I		365		550		6
Series J		978		1,035		18
Series K ⁽³⁾		1,667		6,000		67
Series L		3,349		6,900		61
Series M⁽³⁾		1,434		4,000		—
Merrill Lynch Series 2 (MC) ⁽⁴⁾		1,200		1,200		27
Merrill Lynch Series 3 (MC) ⁽⁴⁾		500		500		11
Merrill Lynch Series 1		146		630		1
Merrill Lynch Series 2		526		1,110		4
Merrill Lynch Series 3		670		810		11
Merrill Lynch Series 4		389		600		4
Merrill Lynch Series 5		606		1,500		6
Merrill Lynch Series 6		65		65		1
Merrill Lynch Series 7		17		50		—
Merrill Lynch Series 8		2,673		2,673		58

Total preferred stock excluding issuances to the U.S. government	$	18,596	$	33,399	$	349

(1)

Excludes third party issuance costs of $103 million and $110 million, and other Merrill Lynch related adjustments of $529 million at both June 30, 2009 and March 31, 2009.

(2)

An estimate of third quarter 2009 potential cash dividends on various series of preferred stock, subject to the Board of Directors’ future declaration and assuming no conversion of convertible shares.

(3)

Pays dividends semi-annually.

(4)

Represents Mandatory Convertible Preferred Stock shares outstanding of Merrill Lynch which will be converted on October 15, 2010 but are optionally convertible prior to that date.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Core Net Interest Income - Managed Basis

(Dollars in millions)


	Six Months Ended June 30								Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
	2009				2008				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
Net interest income ⁽¹⁾
As reported	$	24,761			$	21,228			$	11,942			$	12,819			$	13,406			$	11,920			$	10,937
Impact of market-based net interest income ⁽²⁾		(3,275	)			(2,246	)			(1,455	)			(1,820	)			(1,461	)			(1,235	)			(1,157	)

Core net interest income		21,486				18,982				10,487				10,999				11,945				10,685				9,780
Impact of securitizations ⁽³⁾		5,483				4,344				2,734				2,749				2,257				2,310				2,254

Core net interest income - managed basis	$	26,969			$	23,326			$	13,221			$	13,748			$	14,202			$	12,995			$	12,034


Average earning assets
As reported	$	1,861,954			$	1,505,265			$	1,811,981			$	1,912,483			$	1,616,646			$	1,622,466			$	1,500,234
Impact of market-based earning assets ⁽²⁾		(482,356	)			(381,048	)			(475,761	)			(489,024	)			(311,782	)			(370,146	)			(367,193	)

Core average earning assets		1,379,598				1,124,217				1,336,220				1,423,459				1,304,864				1,252,320				1,133,041
Impact of securitizations ⁽⁴⁾		88,846				102,854				86,154				91,567				93,189				101,743				103,131

Core average earning assets - managed basis	$	1,468,444			$	1,227,071			$	1,422,374			$	1,515,026			$	1,398,053			$	1,354,063			$	1,236,172


Net interest yield contribution ^{(1, 5)}
As reported		2.67		%		2.83		%		2.64		%		2.70		%		3.31		%		2.93		%		2.92		%
Impact of market-based activities ⁽²⁾		0.46				0.56				0.50				0.41				0.34				0.47				0.54

Core net interest yield on earning assets		3.13				3.39				3.14				3.11				3.65				3.40				3.46
Impact of securitizations		0.56				0.42				0.58				0.54				0.40				0.43				0.44

Core net interest yield on earning assets - managed basis		3.69		%		3.81		%		3.72		%		3.65		%		4.05		%		3.83		%		3.90		%

(1)

Fully taxable-equivalent basis

(2)

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

(3)

Represents the impact of securitizations utilizing actual bond costs. This is different from the business segment view which utilizes funds transfer pricing methodologies.

(4)

Represents average securitized loans less accrued interest receivable and certain securitized bonds retained.

(5)

Calculated on an annualized basis.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Second Quarter 2009						First Quarter 2009						Second Quarter 2008
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	25,604	$	169	2.64	%	$	26,158	$	191	2.96	%	$	10,310	$	87	3.40	%
Federal funds sold and securities borrowed or purchased under agreements to resell		230,955		690	1.20			244,280		1,155	1.90			126,169		800	2.54
Trading account assets		223,102		2,028	3.64			259,322		2,499	3.89			184,547		2,282	4.95
Debt securities ⁽¹⁾		255,159		3,353	5.26			286,249		3,902	5.47			235,369		2,963	5.04
Loans and leases ⁽²⁾:
Residential mortgage ⁽³⁾		253,803		3,489	5.50			265,121		3,680	5.57			256,164		3,541	5.54
Home equity		156,599		1,722	4.41			158,575		1,787	4.55			120,265		1,627	5.44
Discontinued real estate		18,309		303	6.61			19,386		386	7.97			n/a		n/a	n/a
Credit card - domestic		51,721		1,375	10.66			58,960		1,606	11.05			61,655		1,603	10.45
Credit card - foreign		18,825		506	10.77			16,858		449	10.81			16,566		512	12.43
Direct/Indirect consumer⁽⁴⁾		100,302		1,532	6.12			100,741		1,684	6.78			82,593		1,731	8.43
Other consumer ⁽⁵⁾		3,298		63	7.77			3,408		64	7.50			3,953		84	8.36
Total consumer		602,857		8,990	5.97			623,049		9,656	6.25			541,196		9,098	6.75
Commercial - domestic		231,639		2,176	3.77			240,683		2,485	4.18			219,537		2,762	5.06
Commercial real estate ⁽⁶⁾		75,559		627	3.33			72,206		550	3.09			62,810		737	4.72
Commercial lease financing		22,026		260	4.72			22,056		279	5.05			22,276		243	4.37
Commercial - foreign		34,024		360	4.24			36,127		462	5.18			32,820		366	4.48
Total commercial		363,248		3,423	3.78			371,072		3,776	4.12			337,443		4,108	4.89
Total loans and leases		966,105		12,413	5.15			994,121		13,432	5.46			878,639		13,206	6.04
Other earning assets		111,056		1,251	4.52			102,353		1,299	5.12			65,200		1,005	6.19
Total earning assets ⁽⁷⁾		1,811,981		19,904	4.40			1,912,483		22,478	4.74			1,500,234		20,343	5.44
Cash and cash equivalents		204,354						153,007						33,799
Other assets, less allowance for loan and lease losses		403,982						453,644						220,580
Total assets	$	2,420,317					$	2,519,134					$	1,754,613

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	34,367	$	54	0.63	%	$	32,378	$	58	0.72	%	$	33,164	$	64	0.77	%
NOW and money market deposit accounts		342,570		376	0.44			343,215		435	0.51			258,104		856	1.33
Consumer CDs and IRAs		229,392		1,409	2.46			235,787		1,715	2.95			178,828		1,646	3.70
Negotiable CDs, public funds and other time deposits		39,100		124	1.28			31,188		149	1.94			24,216		195	3.25
Total domestic interest-bearing deposits		645,429		1,963	1.22			642,568		2,357	1.49			494,312		2,761	2.25
Foreign interest-bearing deposits:
Banks located in foreign countries		19,261		37	0.76			26,052		48	0.75			33,777		272	3.25
Governments and official institutions		7,379		4	0.22			9,849		6	0.25			11,789		77	2.62
Time, savings and other		54,307		78	0.58			58,380		132	0.92			55,403		410	2.97
Total foreign interest-bearing deposits		80,947		119	0.59			94,281		186	0.80			100,969		759	3.02
Total interest-bearing deposits		726,376		2,082	1.15			736,849		2,543	1.40			595,281		3,520	2.38
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		503,451		1,396	1.11			591,928		2221	1.52			444,578		3,087	2.79
Trading account liabilities		63,551		450	2.84			70,799		579	3.32			70,546		749	4.27
Long-term debt		444,131		4,034	3.64			446,975		4316	3.89			205,194		2,050	4.00
Total interest-bearing liabilities ⁽⁷⁾		1,737,509		7,962	1.84			1,846,551		9,659	2.11			1,315,599		9,406	2.87
Noninterest-bearing sources:
Noninterest-bearing deposits		248,516						227,232						190,721
Other liabilities		191,425						216,585						86,865
Shareholders' equity		242,867						228,766						161,428
Total liabilities and shareholders' equity	$	2,420,317					$	2,519,134					$	1,754,613
Net interest spread					2.56	%					2.63	%					2.57	%
Impact of noninterest-bearing sources					0.08						0.07						0.35
Net interest income/yield on earning assets			$	11,942	2.64	%			$	12,819	2.70	%			$	10,937	2.92	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis. We account for acquired impaired loans in accordance with SOP 03-3. Loans accounted for in accordance with SOP 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Includes foreign residential mortgages of $675 million and $627 million for the second and first quarters of 2009.

(4)

Includes foreign consumer loans of $8.0 billion and $7.1 billion in the second and first quarters of 2009, and $3.0 billion in the second quarter of 2008.

(5)

Includes consumer finance loans of $2.5 and $2.6 billion in the second and first quarters of 2009, and $2.8 billion in the second quarter of 2008; and other foreign consumer loans of $640 million and $596 million in the second and first quarters of 2009, and $862 million in the second quarter of 2008.

(6)

Includes domestic commercial real estate loans of $72.8 billion and $70.9 billion in the second and first quarters of 2009, and $61.6 billion in the second quarter of 2008, and foreign commercial real estate loans of $2.8 billion and $1.3 billion in the second and first quarters of 2009, and $1.3 billion in the second quarter of 2008.

(7)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $11 million and $61 million in the second and first quarters of 2009, and $104 million in the second quarter of 2008. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(550) million and $(512) million in the second and first quarters of 2009, and $37 million in the second quarter of 2008.

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Second Quarter 2009							First Quarter 2009							Second Quarter 2008
	Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽²⁾	$	25,604	$	172		2.69	%	$	26,158	$	191		2.96	%	$	10,310	$	91		3.56		%
Federal funds sold and securities borrowed or purchased under agreements to resell⁽²⁾		230,955		628		1.09			244,280		1,158		1.90			126,169		867		2.75
Trading account assets		223,102		2,028		3.64			259,322		2,499		3.89			184,547		2,282		4.95
Debt securities ⁽²⁾		255,159		3,387		5.31			286,249		3,930		5.51			235,369		2,963		5.04
Loans and leases:
Residential mortgage		253,803		3,489		5.50			265,121		3,680		5.57			256,164		3,541		5.54
Home equity		156,599		1,722		4.41			158,575		1,787		4.55			120,265		1,627		5.44
Discontinued real estate		18,309		303		6.61			19,386		386		7.97			n/a		n/a		n/a
Credit card - domestic		51,721		1,375		10.66			58,960		1,606		11.05			61,655		1,603		10.45
Credit card - foreign		18,825		506		10.77			16,858		449		10.81			16,566		512		12.43
Direct/Indirect consumer		100,302		1,532		6.12			100,741		1,684		6.78			82,593		1,731		8.43
Other consumer		3,298		63		7.77			3,408		64		7.50			3,953		84		8.36
Total consumer		602,857		8,990		5.97			623,049		9,656		6.25			541,196		9,098		6.75
Commercial - domestic⁽²⁾		231,639		2,212		3.83			240,683		2,515		4.24			219,537		2,795		5.12
Commercial real estate		75,559		627		3.33			72,206		550		3.09			62,810		737		4.72
Commercial lease financing		22,026		260		4.72			22,056		279		5.05			22,276		243		4.37
Commercial - foreign		34,024		360		4.24			36,127		462		5.18			32,820		366		4.48
Total commercial		363,248		3,459		3.82			371,072		3,806		4.15			337,443		4,141		4.93
Total loans and leases		966,105		12,449		5.16			994,121		13,462		5.47			878,639		13,239		6.05
Other earning assets		111,056		1,251		4.52			102,353		1,299		5.12			65,200		1,005		6.19
Total earning assets - excluding hedge impact		1,811,981		19,915		4.40			1,912,483		22,539		4.75			1,500,234		20,447		5.47
Net hedge income (expense) on assets				(11	)						(61	)						(104	)
Total earning assets - including hedge impact		1,811,981		19,904		4.40			1,912,483		22,478		4.74			1,500,234		20,343		5.44
Cash and cash equivalents		204,354							153,007							33,799
Other assets, less allowance for loan and lease losses		403,982							453,644							220,580
Total assets	$	2,420,317						$	2,519,134						$	1,754,613

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	34,367	$	54		0.63	%	$	32,378	$	58		0.72	%	$	33,164	$	64		0.77		%
NOW and money market deposit accounts⁽²⁾		342,570		376		0.44			343,215		436		0.51			258,104		851		1.33
Consumer CDs and IRAs⁽²⁾		229,392		1,350		2.36			235,787		1,651		2.84			178,828		1,535		3.45
Negotiable CDs, public funds and other time deposits⁽²⁾		39,100		119		1.24			31,188		146		1.89			24,216		193		3.21
Total domestic interest-bearing deposits		645,429		1,899		1.18			642,568		2,291		1.44			494,312		2,643		2.15
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		19,261		24		0.48			26,052		41		0.64			33,777		272		3.25
Governments and official institutions		7,379		4		0.22			9,849		6		0.25			11,789		77		2.62
Time, savings and other		54,307		78		0.58			58,380		132		0.92			55,403		410		2.97
Total foreign interest-bearing deposits		80,947		106		0.52			94,281		179		0.77			100,969		759		3.02
Total interest-bearing deposits		726,376		2,005		1.11			736,849		2,470		1.36			595,281		3,402		2.30
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings ⁽²⁾		503,451		1,157		0.92			591,928		1,915		1.31			444,578		2,980		2.70
Trading account liabilities		63,551		450		2.84			70,799		579		3.32			70,546		749		4.27
Long-term debt⁽²⁾		444,131		4,900		4.42			446,975		5,207		4.69			205,194		2,238		4.36
Total interest-bearing liabilities - excluding hedge impact		1,737,509		8,512		1.96			1,846,551		10,171		2.23			1,315,599		9,369		2.86
Net hedge (income) expense on liabilities				(550	)						(512	)						37
Total interest-bearing liabilities - including hedge impact		1,737,509		7,962		1.84			1,846,551		9,659		2.11			1,315,599		9,406		2.87
Noninterest-bearing sources:
Noninterest-bearing deposits		248,516							227,232							190,721
Other liabilities		191,425							216,585							86,865
Shareholders’ equity		242,867							228,766							161,428
Total liabilities and shareholders’ equity	$	2,420,317						$	2,519,134						$	1,754,613
Net interest spread						2.44							2.52							2.61
Impact of noninterest-bearing sources						0.08							0.07							0.35
Net interest income/yield on earning assets - excluding hedge impact			$	11,403		2.52	%			$	12,368		2.59	%			$	11,078		2.96		%
Net impact of hedge income (expense)				539		0.12					451		0.11					(141	)	(0.04	)
Net interest income/yield on earning assets			$	11,942		2.64	%			$	12,819		2.70	%			$	10,937		2.92		%
(1) This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above. (2) The impact of interest rate risk management derivatives on interest income and interest expense is presented below. Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
			Second Quarter 2009							First Quarter 2009							Second Quarter 2008
Time deposits placed and other short-term investments			$	(3	)					$	—						$	(4	)
Federal funds sold and securities borrowed or purchased under agreements to resell				62							(3	)						(67	)
Debt securities				(34	)						(28	)						(33	)
Commercial - domestic				(36	)						(30	)						—

Net hedge income (expense) on assets			$	(11	)					$	(61	)					$	(104	)


Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts			$	—						$	(1	)					$	5
Consumer CDs and IRAs				59							64							111
Negotiable CDs, public funds and other time deposits				5							3							2
Banks located in foreign countries				13							7							—
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings				239							306							107
Long-term debt				(866	)						(891	)						(188	)

Net hedge (income) expense on liabilities			$	(550	)					$	(512	)					$	37

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis

(Dollars in millions)


	Six Months Ended June 30
	2009						2008
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	25,879	$	360	2.80	%	$	10,453	$	181	3.48	%
Federal funds sold and securities borrowed or purchased under agreements to resell		237,581		1,845	1.56			135,606		2,008	2.97
Trading account assets		241,112		4,527	3.77			188,478		4,699	5.00
Debt securities ⁽¹⁾		270,618		7,255	5.37			227,373		5,798	5.10
Loans and leases ⁽²⁾:
Residential mortgage⁽³⁾		259,431		7,169	5.53			263,352		7,378	5.61
Home equity		157,582		3,509	4.48			118,413		3,499	5.94
Discontinued real estate		18,845		689	7.31			n/a		n/a	n/a
Credit card - domestic		55,320		2,981	10.87			62,466		3,377	10.87
Credit card - foreign		17,847		955	10.79			15,904		986	12.47
Direct/Indirect consumer⁽⁴⁾		100,521		3,216	6.45			80,649		3,430	8.55
Other consumer ⁽⁵⁾		3,351		127	7.63			4,001		171	8.49
Total consumer		612,897		18,646	6.11			544,785		18,841	6.94
Commercial - domestic		236,135		4,661	3.98			215,965		5,960	5.55
Commercial real estate ⁽⁶⁾		73,892		1,177	3.21			62,506		1,624	5.22
Commercial lease financing		22,041		539	4.89			22,252		504	4.53
Commercial - foreign		35,070		822	4.73			31,642		753	4.78
Total commercial		367,138		7,199	3.95			332,365		8,841	5.35
Total loans and leases		980,035		25,845	5.30			877,150		27,682	6.34
Other earning assets		106,729		2,550	4.81			66,205		2,134	6.47
Total earning assets ⁽⁷⁾		1,861,954		42,382	4.57			1,505,265		42,502	5.67
Cash and cash equivalents		178,822						33,874
Other assets, less allowance for loan and lease losses		428,676						220,631
Total assets	$	2,469,452					$	1,759,770

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	33,378	$	112	0.68	%	$	32,481	$	114	0.70	%
NOW and money market deposit accounts		342,890		811	0.48			253,526		1,995	1.58
Consumer CDs and IRAs		232,792		3,124	2.70			183,417		3,717	4.08
Negotiable CDs, public funds and other time deposits		34,946		273	1.57			28,208		515	3.68
Total domestic interest-bearing deposits		644,006		4,320	1.35			497,632		6,341	2.56
Foreign interest-bearing deposits:
Banks located in foreign countries		22,638		85	0.75			36,487		672	3.71
Governments and official institutions		8,607		10	0.23			13,219		209	3.17
Time, savings and other		56,332		210	0.76			54,234		886	3.28
Total foreign interest-bearing deposits		87,577		305	0.70			103,940		1,767	3.42
Total interest-bearing deposits		731,583		4,625	1.27			601,572		8,108	2.71
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		547,446		3,617	1.33			448,717		7,229	3.24
Trading account liabilities		67,155		1,029	3.09			76,489		1,589	4.18
Long-term debt		445,545		8,350	3.76			201,828		4,348	4.31
Total interest-bearing liabilities ⁽⁷⁾		1,791,729		17,621	1.98			1,328,606		21,274	3.22
Noninterest-bearing sources:
Noninterest-bearing deposits		237,933						185,241
Other liabilities		203,935						87,845
Shareholders’ equity		235,855						158,078
Total liabilities and shareholders’ equity	$	2,469,452					$	1,759,770
Net interest spread					2.59	%					2.45	%
Impact of noninterest-bearing sources					0.08						0.38
Net interest income/yield on earning assets			$	24,761	2.67	%			$	21,228	2.83	%

(1)

Yields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.

(2)

Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis. We account for acquired impaired loans in accordance with SOP 03-3. Loans accounted for in accordance with SOP 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Includes foreign residential mortgages of $651 million for the six months ended June 30, 2009.

(4)

Includes foreign consumer loans of $7.6 billion and $3.1 billion for the six months ended June 30, 2009 and 2008.

(5)

Includes consumer finance loans of $2.5 billion and $2.9 billion, and other foreign consumer loans of $618 million and $859 million for the six months ended June 30, 2009 and 2008.

(6)

Includes domestic commercial real estate loans of $71.9 billion and $61.3 billion, and foreign commercial real estate loans of $2.0 billion and $1.2 billion for the six months ended June 30, 2009 and 2008.

(7)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $72 million and $207 million for the six months ended June 30, 2009 and 2008. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(1.1) billion and $86 million for the six months ended June 30, 2009 and 2008.

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Hedge Income/Expense ⁽¹⁾

(Dollars in millions)


	Six Months Ended June 30
	2009							2008
	Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense			Yield/ Rate
Earning assets
Time deposits placed and other short-term investments⁽²⁾	$	25,879	$	363		2.82	%	$	10,453	$	189		3.64		%
Federal funds sold and securities borrowed or purchased under agreements to resell⁽²⁾		237,581		1,786		1.51			135,606		2,145		3.17
Trading account assets		241,112		4,527		3.77			188,478		4,699		5.00
Debt securities ⁽²⁾		270,618		7,317		5.42			227,373		5,799		5.10
Loans and leases:
Residential mortgage		259,431		7,169		5.53			263,352		7,378		5.61
Home equity		157,582		3,509		4.48			118,413		3,499		5.94
Discontinued real estate		18,845		689		7.31			n/a		n/a		n/a
Credit card - domestic		55,320		2,981		10.87			62,466		3,377		10.87
Credit card - foreign		17,847		955		10.79			15,904		986		12.47
Direct/Indirect consumer		100,521		3,216		6.45			80,649		3,430		8.55
Other consumer		3,351		127		7.63			4,001		171		8.49
Total consumer		612,897		18,646		6.11			544,785		18,841		6.94
Commercial - domestic⁽²⁾		236,135		4,727		4.04			215,965		6,020		5.60
Commercial real estate		73,892		1,177		3.21			62,506		1,624		5.22
Commercial lease financing		22,041		539		4.89			22,252		504		4.53
Commercial - foreign		35,070		822		4.73			31,642		753		4.78
Total commercial		367,138		7,265		3.99			332,365		8,901		5.38
Total loans and leases		980,035		25,911		5.32			877,150		27,742		6.35
Other earning assets⁽²⁾		106,729		2,550		4.81			66,205		2,135		6.47
Total earning assets - excluding hedge impact		1,861,954		42,454		4.58			1,505,265		42,709		5.69
Net hedge income (expense) on assets				(72	)						(207	)
Total earning assets - including hedge impact		1,861,954		42,382		4.57			1,505,265		42,502		5.67
Cash and cash equivalents		178,822							33,874
Other assets, less allowance for loan and lease losses		428,676							220,631
Total assets	$	2,469,452						$	1,759,770

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	33,378	$	112		0.68	%	$	32,481	$	114		0.70		%
NOW and money market deposit accounts⁽²⁾		342,890		812		0.48			253,526		1,985		1.57
Consumer CDs and IRAs⁽²⁾		232,792		3,001		2.60			183,417		3,485		3.82
Negotiable CDs, public funds and other time deposits⁽²⁾		34,946		265		1.53			28,208		511		3.65
Total domestic interest-bearing deposits		644,006		4,190		1.31			497,632		6,095		2.46
Foreign interest-bearing deposits:
Banks located in foreign countries⁽²⁾		22,638		65		0.57			36,487		670		3.69
Governments and official institutions		8,607		10		0.23			13,219		209		3.17
Time, savings and other		56,332		210		0.76			54,234		886		3.28
Total foreign interest-bearing deposits		87,577		285		0.66			103,940		1,765		3.41
Total interest-bearing deposits		731,583		4,475		1.23			601,572		7,860		2.63
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings ⁽²⁾		547,446		3,072		1.13			448,717		7,114		3.19
Trading account liabilities		67,155		1,029		3.09			76,489		1,589		4.18
Long-term debt⁽²⁾		445,545		10,107		4.56			201,828		4,625		4.58
Total interest-bearing liabilities - excluding hedge impact		1,791,729		18,683		2.10			1,328,606		21,188		3.20
Net hedge (income) expense on liabilities				(1,062	)						86
Total interest-bearing liabilities - including hedge impact		1,791,729		17,621		1.98			1,328,606		21,274		3.22
Noninterest-bearing sources:
Noninterest-bearing deposits		237,933							185,241
Other liabilities		203,935							87,845
Shareholders’ equity		235,855							158,078
Total liabilities and shareholders’ equity	$	2,469,452						$	1,759,770
Net interest spread						2.48							2.49
Impact of noninterest-bearing sources						0.08							0.38
Net interest income/yield on earning assets - excluding hedge impact			$	23,771		2.56	%			$	21,521		2.87		%
Net impact of hedge income (expense)				990		0.11					(293	)	(0.04	)
Net interest income/yield on earning assets			$	24,761		2.67	%			$	21,228		2.83		%

(1) This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above. (2) The impact of interest rate risk management derivatives on interest income and interest expense is presented below. Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
			Six Months Ended June 30
			2009							2008
Time deposits placed and other short-term investments			$	(3	)					$	(8	)
Federal funds sold and securities borrowed or purchased under agreements to resell				59							(137	)
Debt securities				(62	)						(1	)
Commercial - domestic				(66	)						(60	)
Other earning assets				—							(1	)
Net hedge income (expense) on assets			$	(72	)					$	(207	)

Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:

NOW and money market deposit accounts			$	(1	)					$	10
Consumer CDs and IRAs				123							232
Negotiable CDs, public funds and other time deposits				8							4
Banks located in foreign countries				20							2
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings				545							115
Long-term debt				(1,757	)						(277	)
Net hedge (income) expense on liabilities			$	(1,062	)					$	86

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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)


	June 30, 2009
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S Treasury securities and agency debentures	$	14,545	$	383	$	(12	)	$	14,916
Mortgage-backed securities:
Agency MBSs		135,348		2,330		(210	)		137,468
Agency collateralized mortgage obligations		17,573		401		(112	)		17,862
Non-agency MBSs		48,222		2,179		(7,945	)		42,456
Foreign securities		5,405		24		(1,204	)		4,225
Corporate/Agency bonds		5,794		101		(412	)		5,483
Other taxable securities ⁽¹⁾		23,198		150		(749	)		22,599

Total taxable securities		250,085		5,568		(10,644	)		245,009
Tax-exempt securities		13,032		85		(607	)		12,510

Total available-for-sale debt securities	$	263,117	$	5,653	$	(11,251	)	$	257,519

Held-to-maturity debt securities ⁽²⁾		9,719		—		1,875			7,844

Total debt securities	$	272,836	$	5,653	$	(13,126	)	$	265,363

Available-for-sale marketable equity securities ⁽³⁾	$	6,427	$	1,495	$	(947	)	$	6,975


	March 31, 2009
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S Treasury securities and agency debentures	$	4,353	$	249	$	(9	)	$	4,593
Mortgage-backed securities:
Agency MBSs		136,194		3,116		(130	)		139,180
Agency collateralized mortgage obligations		20,842		365		(51	)		21,156
Non-agency MBSs		58,129		1,649		(10,941	)		48,837
Foreign securities		5,363		5		(940	)		4,428
Corporate/Agency bonds		5,588		37		(1,142	)		4,483
Other taxable securities ⁽¹⁾		22,539		61		(653	)		21,947

Total taxable securities		253,008		5,482		(13,866	)		244,624
Tax-exempt securities		10,142		83		(655	)		9,570

Total available-for-sale debt securities	$	263,150	$	5,565	$	(14,521	)	$	254,194

Held-to-maturity debt securities ⁽²⁾		8,444		—		(1,881	)		6,563

Total debt securities	$	271,594	$	5,565	$	(16,402	)	$	260,757

Available-for-sale marketable equity securities ⁽³⁾	$	17,456	$	5,705	$	(1,340	)	$	21,821

(1)

Includes asset-backed securities.

(2)

Includes asset-backed securities that were issued by the Corporation’s credit card securitization trust and retained by the corporation with an amortized cost of $7.4 billion and a fair value of $5.5 billion at June 30, 2009 and $7.8 billion and $5.9 billion at March 31, 2009.

(3)

Represents those available-for-sale marketable equity securities that are recorded in other assets on the Consolidated Balance Sheet.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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)


	Second Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	11,942		$	1,748	$	5,049		$	1,197		$	2,738	$	1,507		$	1,291	$	(1,588	)
Noninterest income		21,144			1,747		2,288			3,264			5,920		2,945			2,905		2,075

Total revenue, net of interest expense		33,086			3,495		7,337			4,461			8,658		4,452			4,196		487

Provision for credit losses		13,375			96		7,741			2,726			2,584		(1	)		238		(9	)
Noninterest expense		17,020			2,649		1,976			2,829			2,232		2,559			3,304		1,471

Income (loss) before income taxes		2,691			750		(2,380	)		(1,094	)		3,842		1,894			654		(975	)
Income tax expense (benefit) ⁽²⁾		(533	)		245		(762	)		(369	)		1,355		517			213		(1,732	)

Net income (loss)	$	3,224		$	505	$	(1,618	)	$	(725	)	$	2,487	$	1,377		$	441	$	757


Average
Total loans and leases	$	966,105			n/m	$	220,365		$	131,509		$	323,217		n/m		$	101,748	$	159,142
Total assets ⁽³⁾		2,420,317		$	442,419		236,017			232,194			389,387	$	670,703			238,609		n/m
Total deposits		974,892			417,114		n/m			n/m			199,879		n/m			214,111		108,079
Allocated equity		242,867			23,576		42,118			15,827			60,455		31,022			18,708		51,161

Period end
Total loans and leases	$	942,248			n/m	$	215,904		$	131,120		$	314,512		n/m		$	100,878	$	153,008
Total assets ⁽³⁾		2,254,394		$	448,200		231,986			234,388			381,123	$	571,761			232,913		n/m
Total deposits		970,742			423,192		n/m			n/m			201,207		n/m			206,296		106,127

	First Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	12,819		$	1,911	$	5,259		$	1,179		$	2,815	$	1,889		$	1,655	$	(1,889	)
Noninterest income		23,261			1,501		2,250			4,044			1,825		5,010			2,708		5,923

Total revenue, net of interest expense		36,080			3,412		7,509			5,223			4,640		6,899			4,363		4,034

Provision for credit losses		13,380			91		8,441			3,372			1,848		51			254		(677	)
Noninterest expense		17,002			2,359		2,077			2,650			2,515		3,056			3,290		1,055

Income (loss) before income taxes		5,698			962		(3,009	)		(799	)		277		3,792			819		3,656
Income tax expense (benefit) ⁽²⁾		1,451			361		(1,133	)		(301	)		105		1,357			309		753

Net income (loss)	$	4,247		$	601	$	(1,876	)	$	(498	)	$	172	$	2,435		$	510	$	2,903


Average
Total loans and leases	$	994,121			n/m	$	228,461		$	126,685		$	330,974		n/m		$	110,535	$	168,450
Total assets ⁽³⁾		2,519,134		$	402,874		246,611			220,061			397,625	$	714,726			278,130		n/m
Total deposits		964,081			377,575		n/m			n/m			196,061		n/m			249,792		109,447
Allocated equity		228,766			23,484		40,370			14,403			56,503		27,235			17,119		49,652

Period end
Total loans and leases	$	977,008			n/m	$	221,984		$	131,332		$	323,407		n/m		$	102,766	$	165,534
Total assets ⁽³⁾		2,321,963		$	417,123		238,410			221,547			387,410	$	583,416			268,133		n/m
Total deposits		953,508			391,604		n/m			n/m			194,864		n/m			241,504		93,702

	Second Quarter 2008
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	10,937		$	2,625	$	4,742		$	620		$	2,517	$	1,197		$	1,149	$	(1,913	)
Noninterest income		9,789			1,775		2,758			641			1,938		181			1,146		1,350

Total revenue, net of interest expense		20,726			4,400		7,500			1,261			4,455		1,378			2,295		(563	)

Provision for credit losses		5,830			89		4,259			2,034			400		(38	)		119		(1,033	)
Noninterest expense		9,659			2,324		2,375			732			1,747		951			1,244		286

Income (loss) before income taxes		5,237			1,987		866			(1,505	)		2,308		465			932		184
Income tax expense (benefit) ⁽²⁾		1,827			749		284			(557	)		875		167			351		(42	)

Net income (loss)	$	3,410		$	1,238	$	582		$	(948	)	$	1,433	$	298		$	581	$	226


Average
Total loans and leases	$	878,639			n/m	$	238,918		$	91,199		$	315,282		n/m		$	87,574	$	117,504
Total assets ⁽³⁾		1,754,613		$	364,444		261,456			104,539			378,233	$	429,854			165,682		n/m
Total deposits		786,002			337,253		n/m			n/m			169,738		n/m			157,113		96,998
Allocated equity		161,428			24,520		38,978			3,342			48,634		12,088			11,775		22,091

Period end
Total loans and leases	$	870,464			n/m	$	240,617		$	92,064		$	322,675		n/m		$	88,172	$	95,826
Total assets ⁽³⁾		1,716,875		$	363,326		263,253			103,765			386,525	$	388,451			167,197		n/m
Total deposits		784,764			336,136		n/m			n/m			173,576		n/m			158,228		93,418

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

(2)

Fully taxable-equivalent basis

(3)

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 the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Year-to-Date Results by Business Segment

(Dollars in millions)


	Six Months Ended June 30, 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	24,761	$	3,659	$	10,308		$	2,376		$	5,553	$	3,396		$	2,946	$	(3,477	)
Noninterest income		44,405		3,248		4,538			7,308			7,745		7,955			5,613		7,998

Total revenue, net of interest expense		69,166		6,907		14,846			9,684			13,298		11,351			8,559		4,521

Provision for credit losses		26,755		187		16,182			6,098			4,432		50			492		(686	)
Noninterest expense		34,022		5,008		4,053			5,479			4,747		5,615			6,594		2,526

Income (loss) before income taxes		8,389		1,712		(5,389	)		(1,893	)		4,119		5,686			1,473		2,681
Income tax expense (benefit) ⁽²⁾		918		606		(1,895	)		(670	)		1,460		1,874			522		(979	)

Net income (loss)	$	7,471	$	1,106	$	(3,494	)	$	(1,223	)	$	2,659	$	3,812		$	951	$	3,660


Average
Total loans and leases	$	980,035		n/m	$	224,391		$	129,110		$	327,074		n/m		$	106,117	$	163,770
Total assets ⁽³⁾		2,469,452	$	422,756		241,285			226,161			393,483	$	692,593			258,260		n/m
Total deposits		969,516		397,454		n/m			n/m			197,981		n/m			231,853		108,757
Allocated equity		235,855		23,530		41,249			15,118			58,490		29,139			17,918		50,411

Period end
Total loans and leases	$	942,248		n/m	$	215,904		$	131,120		$	314,512		n/m		$	100,878	$	153,008
Total assets ⁽³⁾		2,254,394	$	448,200		231,986			234,388			381,123	$	571,761			232,913		n/m
Total deposits		970,742		423,192		n/m			n/m			201,207		n/m			206,296		106,127

	Six Months Ended June 30, 2008
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
	Total Corporation		Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	21,228	$	5,136	$	9,331		$	1,170		$	4,863	$	2,332		$	2,167	$	(3,771	)
Noninterest income		16,869		3,352		6,099			1,414			3,491		(1,795	)		2,070		2,238

Total revenue, net of interest expense		38,097		8,488		15,430			2,584			8,354		537			4,237		(1,533	)

Provision for credit losses		11,840		195		8,711			3,846			926		(39	)		362		(2,161	)
Noninterest expense		18,922		4,516		4,572			1,470			3,494		1,680			2,555		635

Income (loss) before income taxes		7,335		3,777		2,147			(2,732	)		3,934		(1,104	)		1,320		(7	)
Income tax expense (benefit) ⁽²⁾		2,715		1,414		746			(1,011	)		1,478		(413	)		495		6

Net income (loss)	$	4,620	$	2,363	$	1,401		$	(1,721	)	$	2,456	$	(691	)	$	825	$	(13	)


Average
Total loans and leases	$	877,150		n/m	$	236,738		$	89,218		$	310,603		n/m		$	86,609	$	125,695
Total assets ⁽³⁾		1,759,770	$	365,798		259,807			102,217			372,994	$	445,251			161,016		n/m
Total deposits		786,813		338,358		n/m			n/m			165,232		n/m			152,808		105,109
Allocated equity		158,078		24,600		38,716			3,106			48,099		11,786			11,673		20,098

Period end
Total loans and leases	$	870,464		n/m	$	240,617		$	92,064		$	322,675		n/m		$	88,172	$	95,826
Total assets ⁽³⁾		1,716,875	$	363,326		263,253			103,765			386,525	$	388,451			167,197		n/m
Total deposits		784,764		336,136		n/m			n/m			173,576		n/m			158,228	$	93,418

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

(2)

Fully taxable-equivalent basis

(3)

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 the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Deposits Segment Results ⁽¹⁾

(Dollars in millions)


	Six Months Ended June 30							Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
	Six Months Ended June 30
	2009				2008
Net interest income ⁽²⁾	$	3,659			$	5,136		$	1,748			$	1,911			$	2,984		$	2905		$	2,625
Noninterest income:
Service charges		3,252				3,306			1,749				1,503				1,676			1,821			1,742
All other income (loss)		(4	)			46			(2	)			(2	)			11			11			33

Total noninterest income		3,248				3,352			1,747				1,501				1,687			1,832			1,775

Total revenue, net of interest expense		6,907				8,488			3,495				3,412				4,671			4,737			4,400

Provision for credit losses		187				195			96				91				107			98			89
Noninterest expense		5,008				4,516			2,649				2,359				2,238			2,119			2,324

Income before income taxes		1,712				3,777			750				962				2,326			2,520			1,987
Income tax expense ⁽²⁾		606				1,414			245				361				735			950			749

Net income	$	1,106			$	2,363		$	505			$	601			$	1,591		$	1,570		$	1,238

Net interest yield ⁽²⁾		1.86		%		3.10	%		1.69		%		2.06		%		3.23	%		3.13	%		3.18	%
Return on average equity		9.47				19.31			8.58				10.39				25.85			25.92			20.30
Efficiency ratio ⁽²⁾		72.50				53.21			75.80				69.12				47.92			44.74			52.82

Balance sheet

Average
Total earning assets ⁽³⁾	$	396,248			$	333,671		$	415,798			$	376,481			$	367,631		$	369,121		$	331,886
Total assets ⁽³⁾		422,756				365,798			442,419				402,874				394,426			394,718			364,444
Total deposits		397,454				338,358			417,114				377,575				378,951			379,071			337,253
Allocated equity		23,530				24,600			23,576				23,484				24,493			24,088			24,520

Period end
Total earning assets ⁽³⁾	$	421,996			$	334,671		$	421,996			$	390,782			$	364,557		$	371,772		$	334,671
Total assets ⁽³⁾		448,200				363,326			448,200				417,123				391,698			398,938			363,326
Total deposits		423,192				336,136			423,192				391,604				376,974			383,078			336,136

(1)

Deposits includes the net impact of migrating customers and their related deposit balances between Global Wealth & Investment Management (GWIM) and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment.

(2)

Fully taxable-equivalent basis

(3)

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

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Deposits Key Indicators

(Dollars in millions, except as noted)


	Six Months Ended June 30							Second Quarter				First Quarter				Fourth Quarter			Third Quarter			Second Quarter
	2009				2008			2009				2009				2008			2008			2008
Average deposit balances
Checking	$	130,996			$	127,047		$	135,837			$	126,101			$	124,625		$	125,844		$	128,240
Savings		31,034				29,460			32,488				29,564				28,687			29,392			30,092
MMS		85,025				68,066			91,537				78,441				80,677			80,364			69,772
CDs and IRAs		146,777				110,953			153,358				140,123				141,895			139,628			106,153
Foreign and other		3,622				2,832			3,894				3,346				3,067			3,843			2,996

Total average deposit balances	$	397,454			$	338,358		$	417,114			$	377,575			$	378,951		$	379,071		$	337,253


Total balances migrated to (from) GWIM	$	(40,480	)		$	12,662		$	(34,340	)		$	(6,140	)		$	4,542		$	3,272		$	5,631

Deposit spreads (excludes noninterest costs)
Checking		4.12		%		4.21	%		4.07		%		4.18		%		4.25	%		4.23	%		4.15	%
Savings		3.88				3.79			3.87				3.89				3.82			3.80			3.70
MMS		0.23				1.42			0.55				(0.14	)			0.91			1.15			1.30
CDs and IRAs		0.07				0.47			0.05				0.09				0.26			0.14			0.40
Foreign and other		3.44				3.56			3.36				3.54				3.76			3.72			3.62
Total deposit spreads		1.75				2.36			1.78				1.71				1.99			2.01			2.31

Net new retail checking (units in thousands)		394				1,231			176				218				130			823			674

Online banking (end of period)
Active accounts (units in thousands)		29,196				25,299			29,196				29,515				28,854			28,636			25,299
Active billpay accounts (units in thousands)		16,000				13,269			16,000				16,031				15,861			15,732			13,269

LOGO

Bank of America has the largest active online banking customer base with 29.2 million subscribers.

Bank of America uses a strict Active User standard - customers must have used our online services within the last 90 days.

16.0 million active bill pay users paid $79.6 billion worth of bills this quarter. The number of customers who sign up and use Bank of America’s Bill Pay Service continues to surpass that of any other financial institution.

Currently, approximately 330 companies are presenting 39.1 million e-bills per quarter.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Card Services Segment Results ⁽¹⁾

(Dollars in millions)


	Six Months Ended June 30							Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008			2009				2009				2008				2008				2008
Net interest income ⁽²⁾	$	10,308			$	9,331		$	5,049			$	5,259			$	5,302			$	4,922			$	4,742
Noninterest income:
Card income		4,279				5,275			2,164				2,115				2,469				2,290				2,554
All other income		259				824			124				135				239				534				204

Total noninterest income		4,538				6,099			2,288				2,250				2,708				2,824				2,758

Total revenue, net of interest expense		14,846				15,430			7,337				7,509				8,010				7,746				7,500

Provision for credit losses ⁽³⁾		16,182				8,711			7,741				8,441				5,851				5,602				4,259
Noninterest expense		4,053				4,572			1,976				2,077				2,177				2,404				2,375

Income (loss) before income taxes		(5,389	)			2,147			(2,380	)			(3,009	)			(18	)			(260	)			866
Income tax expense (benefit) ⁽²⁾		(1,895	)			746			(762	)			(1,133	)			(61	)			(89	)			284

Net income (loss)	$	(3,494	)		$	1,401		$	(1,618	)		$	(1,876	)		$	43			$	(171	)		$	582


Net interest yield ⁽²⁾		9.27		%		7.91	%		9.20		%		9.34		%		9.03		%		8.15		%		7.97	%
Return on average equity		n/m				7.28			n/m				n/m				0.42				n/m				6.01
Efficiency ratio ⁽²⁾		27.30				29.63			26.93				27.66				27.19				31.04				31.67

Balance sheet

Average
Total loans and leases	$	224,391			$	236,738		$	220,365			$	228,461			$	233,427			$	239,951			$	238,918
Total earning assets		224,274				237,145			220,133				228,460				233,513				240,298				239,413
Total assets		241,285				259,807			236,017				246,611				253,455				261,798				261,456
Allocated equity		41,249				38,716			42,118				40,370				40,295				39,008				38,978

Period end
Total loans and leases	$	215,904			$	240,617		$	215,904			$	221,984			$	233,040			$	235,998			$	240,617
Total earning assets		215,633				240,994			215,633				221,794				233,094				236,157				240,994
Total assets		231,986				263,253			231,986				238,410				252,684				256,885				263,253

(1)

Presented on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - Global Card Services - Reconciliation on page 45).

(2)

Fully taxable-equivalent basis

(3)

Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

n/m = not meaningful

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Card Services Key Indicators

(Dollars in millions)


	Six Months Ended June 30						Second Quarter				First Quarter				Fourth Quarter			Third Quarter			Second Quarter
	2009			2008			2009				2009				2008			2008			2008
Credit Card Data ⁽¹⁾

Loans
Average
Held credit card outstandings	$	73,167		$	78,370		$	70,546			$	75,818			$	82,117		$	80,489		$	78,221
Securitization impact		102,357			106,306			102,046				102,672				99,116			105,919			107,438

Managed credit card outstandings	$	175,524		$	184,676		$	172,592			$	178,490			$	181,233		$	186,408		$	185,659

Period end
Held credit card outstandings	$	69,377		$	78,642		$	69,377			$	67,960			$	81,274		$	81,350		$	78,642
Securitization impact		100,438			108,520			100,438				105,392				100,960			102,048			108,520

Managed credit card outstandings	$	169,815		$	187,162		$	169,815			$	173,352			$	182,234		$	183,398		$	187,162


Credit Quality
Charge-offs $
Held net charge-offs	$	3,676		$	2,064		$	2,064			$	1,612			$	1,406		$	1,242		$	1,108
Securitization impact		5,165			3,059			2,983				2,182				1,857			1,754			1,643

Managed credit card net losses	$	8,841		$	5,123		$	5,047			$	3,794			$	3,263		$	2,996		$	2,751

Charge-offs %
Held net charge-offs		10.13	%		5.29	%		11.74		%		8.62		%		6.82	%		6.14	%		5.69	%
Securitization impact		0.03			0.29			(0.01	)			—				0.34			0.26			0.27

Managed credit card net losses		10.16	%		5.58	%		11.73		%		8.62		%		7.16	%		6.40	%		5.96	%

30+ Delinquency $
Held delinquency	$	5,221		$	4,121		$	5,221			$	5,365			$	5,324		$	4,675		$	4,121
Securitization impact		7,748			6,226			7,748				8,246				6,844			6,126			6,226

Managed delinquency	$	12,969		$	10,347		$	12,969			$	13,611			$	12,168		$	10,801		$	10,347

30+ Delinquency %
Held delinquency		7.53	%		5.24	%		7.53		%		7.90		%		6.55	%		5.75	%		5.24	%
Securitization impact		0.11			0.29			0.11				(0.05	)			0.13			0.14			0.29

Managed delinquency		7.64	%		5.53	%		7.64		%		7.85		%		6.68	%		5.89	%		5.53	%

90+ Delinquency $
Held delinquency	$	2,894		$	2,109		$	2,894			$	2,816			$	2,565		$	2,330		$	2,109
Securitization impact		4,263			3,169			4,263				4,106				3,185			2,958			3,169

Managed delinquency	$	7,157		$	5,278		$	7,157			$	6,922			$	5,750		$	5,288		$	5,278

90+ Delinquency %
Held delinquency		4.17	%		2.68	%		4.17		%		4.14		%		3.16	%		2.87	%		2.68	%
Securitization impact		0.04			0.14			0.04				(0.15	)			—			0.01			0.14

Managed delinquency		4.21	%		2.82	%		4.21		%		3.99		%		3.16	%		2.88	%		2.82	%


Other Global Card Services Key Indicators

Managed credit card data
Gross interest yield		11.51	%		11.68	%		11.33		%		11.68		%		11.87	%		11.52	%		11.44	%
Risk adjusted margin		2.94			6.56			1.28				4.56				6.38			6.67			6.30
New account growth (in thousands)		2,188			5,279			958				1,230				1,432			1,765			2,665
Purchase volumes	$	100,000		$	124,278		$	51,944			$	48,056			$	56,585		$	62,662		$	64,457

Debit Card Data
Debit purchase volumes	$	106,291		$	104,329		$	55,158			$	51,133			$	52,925		$	53,252		$	54,268

(1)

Credit Card includes U.S, Europe and Canada consumer credit card. Does not include business card, debit card and consumer lending.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Segment Results

(Dollars in millions; except as noted)


	Six Months Ended June 30								Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008				2009				2009				2008				2008				2008
Net interest income ⁽¹⁾	$	2,376			$	1,170			$	1,197			$	1,179			$	1,006			$	1,135			$	620
Noninterest income:
Mortgage banking income		6,040				1,064				2,637				3,403				1,603				1,755				409
Insurance income		1,134				201				553				581				646				569				113
All other income		134				149				74				60				(2	)			15				119

Total noninterest income		7,308				1,414				3,264				4,044				2,247				2,339				641

Total revenue, net of interest expense		9,684				2,584				4,461				5,223				3,253				3,474				1,261

Provision for credit losses		6,098				3,846				2,726				3,372				1,623				818				2,034
Noninterest expense		5,479				1,470				2,829				2,650				2,752				2,741				732

Loss before income taxes		(1,893	)			(2,732	)			(1,094	)			(799	)			(1,122	)			(85	)			(1,505	)
Income tax benefit ⁽¹⁾		(670	)			(1,011	)			(369	)			(301	)			(438	)			(31	)			(557	)

Net loss	$	(1,223	)		$	(1,721	)		$	(725	)		$	(498	)		$	(684	)		$	(54	)		$	(948	)

Net interest yield ⁽¹⁾		2.51		%		2.39		%		2.43		%		2.60		%		2.31		%		3.05		%		2.47		%
Efficiency ratio ⁽¹⁾		56.58				56.91				63.41				50.74				84.59				78.90				58.02

Balance sheet

Average
Total loans and leases	$	129,110			$	89,218			$	131,509			$	126,685			$	122,065			$	122,034			$	91,199
Total earning assets		190,945				98,327				197,758				184,056				173,152				148,209				101,109
Total assets		226,161				102,217				232,194				220,061				204,826				179,998				104,539
Allocated equity		15,118				3,106				15,827				14,403				15,478				16,236				3,342

Period end
Total loans and leases	$	131,120			$	92,064			$	131,120			$	131,332			$	122,947			$	122,975			$	92,064
Total earning assets		197,528				100,910				197,528				184,136				175,609				167,338				100,910
Total assets		234,388				103,765				234,388				221,547				205,046				178,956				103,765

Period end (in billions)
Mortgage servicing portfolio ⁽²⁾	$	2,111.9			$	540.8			$	2,111.9			$	2,112.8			$	2,057.3			$	2,026.2			$	540.8

(1)

Fully taxable-equivalent basis

(2)

Servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Key Indicators

(Dollars in millions, except as noted)


	Six Months Ended June 30								Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008				2009				2009				2008				2008				2008
Mortgage servicing rights at fair value rollforward:
Beginning balance	$	12,733			$	3,053			$	14,096			$	12,733			$	20,811			$	4,250			$	3,163
Countrywide balance, July 1, 2008		—				—				—				—				—				17,188				—
Merrill Lynch balance, January 1, 2009		209				—				—				209				—				—				—
Additions		2,966				1,035				1,717				1,249				677				875				669
Impact of customer payments		(1,988	)			(430	)			(803	)			(1,185	)			(1,458	)			(1,425	)			(233	)
Other changes in MSR		4,615				592				3,525				1,090				(7,297	)			(77	)			651

Ending balance	$	18,535			$	4,250			$	18,535			$	14,096			$	12,733			$	20,811			$	4,250

Capitalized mortgage servicing rights
(% of loans serviced)		109		bps		145		bps		109		bps		83		bps		77		bps		126		bps		145		bps
Mortgage loans serviced for investors (in billions)	$	1,703			$	292			$	1,703			$	1,699			$	1,654			$	1,654			$	292

Loan production:
Home Loans & Insurance
First mortgage	$	183,154			$	36,559			$	104,082			$	79,072			$	42,761			$	49,625			$	18,515
Home equity		5,843				22,818				2,920				2,923				3,920				5,260				8,997
Total Corporation
First mortgage		195,863				44,360			$	110,645				85,218				44,611				51,539				22,438
Home equity		7,688				28,141				3,650				4,038				5,326				7,023				11,500

Mortgage banking income
Production income	$	3,288			$	679			$	1,651			$	1,637			$	691			$	749			$	283
Servicing income:
Servicing fees and ancillary income		3,032				515				1,515				1,517				1,487				1,526				266
Impact of customer payments		(1,978	)			(430	)			(793	)			(1,185	)			(1,458	)			(1,425	)			(233	)
Fair value changes of MSRs, net of economic hedge results		1,439				300				138				1,301				783				823				93
Other servicing-related revenue		259				—				126				133				100				82				—

Total net servicing income		2,752				385				986				1,766				912				1,006				126

Total Home Loans & Insurance mortgage banking income		6,040				1,064				2,637				3,403				1,603				1,755				409
Other business segment mortgage banking income (loss)		(199	)			(174	)			(110	)			(89	)			(80	)			(81	)			30

Total consolidated mortgage banking income	$	5,841			$	890			$	2,527			$	3,314			$	1,523			$	1,674			$	439

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Banking Segment Results

(Dollars in millions)


	Six Months Ended June 30								Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008				2009				2009				2008				2008				2008
Net interest income ⁽¹⁾	$	5,553			$	4,863			$	2,738			$	2,815			$	3,100			$	2,734			$	2,517
Noninterest income:
Service charges		1,851				1,580				909				942				809				820				824
Investment banking income		1,436				740				792				644				422				252				385
All other income (loss)		4,458				1,171				4,219				239				(328	)			428				729

Total noninterest income		7,745				3,491				5,920				1,825				903				1,500				1,938

Total revenue, net of interest expense		13,298				8,354				8,658				4,640				4,003				4,234				4,455

Provision for credit losses		4,432				926				2,584				1,848				1,402				802				400
Noninterest expense		4,747				3,494				2,232				2,515				1,113				1,767				1,747

Income before income taxes		4,119				3,934				3,842				277				1,488				1,665				2,308
Income tax expense ⁽¹⁾		1,460				1,478				1,355				105				378				621				875

Net income	$	2,659			$	2,456			$	2,487			$	172			$	1,110			$	1,044			$	1,433

Net interest yield ⁽¹⁾		3.32		%		3.09		%		3.30		%		3.35		%		3.61		%		3.32		%		3.15		%
Return on average equity		9.17				10.27				16.50				1.23				8.34				8.36				11.85
Efficiency ratio ⁽¹⁾		35.70				41.82				25.78				54.21				27.83				41.73				39.24

Balance sheet

Average
Total loans and leases	$	327,074			$	310,603			$	323,217			$	330,974			$	331,115			$	320,813			$	315,282
Total earning assets		336,832				316,941				332,589				341,122				341,453				327,517				321,385
Total assets		393,483				372,994				389,387				397,625				396,406				383,913				378,233
Total deposits		197,981				165,232				199,879				196,061				198,246				176,570				169,738
Allocated equity		58,490				48,099				60,455				56,503				52,941				49,644				48,634

Period end
Total loans and leases	$	314,512			$	322,675			$	314,512			$	323,407			$	328,574			$	326,970			$	322,675
Total earning assets		323,743				329,265				323,743				333,226				338,913				338,405				329,265
Total assets		381,123				386,525				381,123				387,410				393,430				396,448				386,525
Total deposits		201,207				173,576				201,207				194,864				214,755				194,462				173,576

(1) Fully taxable-equivalent basis

Components of Investment Banking Income
(Dollars in millions)
	Six Months Ended June 30								Second Quarter				First Quarter				Fourth Quarter				Third Quarter				Second Quarter
	2009				2008				2009				2009				2008				2008				2008
Investment banking income
Advisory ⁽¹⁾	$	621			$	253			$	292			$	329			$	184			$	109			$	160
Debt issuance		1,599				828				944				655				379				332				496
Equity issuance		665				350				508				157				224				50				110

Total Global Markets and Investment Banking		2,885				1,431				1,744				1,141				787				491				766
Other ⁽²⁾		(184	)			(260	)			(98	)			(86	)			(169	)			(17	)			(71	)

Total investment banking income	$	2,701			$	1,171			$	1,646			$	1,055			$	618			$	474			$	695

(1)

Advisory includes fees on debt and equity advisory and merger and acquisitions.

(2)

Represents the offset to fees paid on the Corporation’s own issuances.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Banking Key Indicators

(Dollars in millions)


	Six Months Ended June 30								Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
	2009				2008				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
Global Banking revenue, net of interest expense
Global commercial banking	$	9,480			$	5,637			$	6,692			$	2,788			$	2,861			$	2,865			$	2,923
Global corporate and investment banking		3,818				2,717				1,966				1,852				1,142				1,369				1,532

Total revenue, net of interest expense ⁽¹⁾	$	13,298			$	8,354			$	8,658			$	4,640			$	4,003			$	4,234			$	4,455

Global Banking revenue, net of interest expense - by service segment
Business lending	$	4,748			$	3,769			$	2,317			$	2,431			$	2,191			$	2,020			$	2,155
Treasury services		7,278				4,258				5,505				1,773				2,152				2,105				2,018
Investment banking related ⁽²⁾		1,272				327				836				436				(340	)			109				282

Total revenue, net of interest expense ⁽¹⁾	$	13,298			$	8,354			$	8,658			$	4,640			$	4,003			$	4,234			$	4,455

Global Banking average deposit balances
Global commercial banking	$	123,514			$	104,041			$	127,133			$	119,853			$	118,415			$	107,142			$	107,944
Global corporate and investment banking		74,467				61,191				72,746				76,208				79,831				69,428				61,794

Total	$	197,981			$	165,232			$	199,879			$	196,061			$	198,246			$	176,570			$	169,738

Interest-bearing	$	82,773			$	86,456			$	79,060			$	86,527			$	100,259			$	89,217			$	88,130
Noninterest-bearing		115,208				78,776				120,819				109,534				97,987				87,353				81,608

Total	$	197,981			$	165,232			$	199,879			$	196,061			$	198,246			$	176,570			$	169,738

Global Banking loan spreads
Global commercial banking		1.90		%		1.75		%		1.96		%		1.83		%		1.85		%		1.74		%		1.71		%
Global corporate and investment banking		1.54				0.65				1.56				1.54				1.17				0.72				0.64
Provision for credit losses
Global commercial banking	$	3,549			$	941			$	1,992			$	1,557			$	1,037			$	671			$	449
Global corporate and investment banking		883				(15	)			592				291				365				131				(49	)

Total provision for credit losses	$	4,432			$	926			$	2,584			$	1,848			$	1,402			$	802			$	400

Credit quality ^{(3, 4)}
Reservable utilized criticized exposure
Global commercial banking	$	38,648			$	19,907			$	38,648			$	33,465			$	27,225			$	23,020			$	19,907
		16.88		%		8.76		%		16.88		%		14.36		%		11.63		%		9.93		%		8.76		%
Global corporate and investment banking	$	12,034			$	4,426			$	12,034			$	9,995			$	7,292			$	5,782			$	4,426
		10.59		%		3.69		%		10.59		%		8.45		%		5.91		%		4.63		%		3.69		%

Total reservable utilized criticized exposure	$	50,682			$	24,333			$	50,682			$	43,460			$	34,517			$	28,802			$	24,333
		14.79		%		7.01		%		14.79		%		12.37		%		9.66		%		8.07		%		7.01		%
Nonperforming assets
Global commercial banking	$	9,357			$	3,639			$	9,357			$	8,077			$	5,643			$	4,335			$	3,639
		4.24		%		1.61		%		4.24		%		3.60		%		2.50		%		1.93		%		1.61		%
Global corporate and investment banking	$	1,346			$	191			$	1,346			$	879			$	736			$	444			$	191
		1.43		%		0.20		%		1.43		%		0.88		%		0.71		%		0.43		%		0.20		%

Total nonperforming assets	$	10,703			$	3,830			$	10,703			$	8,956			$	6,379			$	4,779			$	3,830
		3.40		%		1.19		%		3.40		%		2.77		%		1.94		%		1.46		%		1.19		%
Average loans and leases by product
Commercial - domestic	$	169,583			$	158,511			$	164,673			$	174,548			$	175,260			$	163,886			$	161,013
Commercial real estate		63,576				59,601				64,609				62,532				61,395				60,196				59,909
Commercial lease financing		24,262				24,276				24,208				24,316				24,324				24,574				24,287
Commercial - foreign		26,946				26,799				27,051				26,840				28,546				28,429				27,895
Direct/Indirect consumer		41,217				39,554				41,233				41,201				40,144				42,205				40,344
Other		1,490				1,864				1,443				1,537				1,446				1,523				1,834

Total average loans and leases	$	327,074			$	310,603			$	323,217			$	330,974			$	331,115			$	320,813			$	315,282



(1) Total Global Banking revenue, net of interest expense	$	*13,298*			$	8,354			$	*8,658*			$	4,640			$	4,003			$	4,234			$	4,455
Less: Fair value option revenue share		*104*				5				*242*				(138	)			(291	)			(13	)			61
Less: Impact of credit mitigation		*(121*	)			64				*(121*	)			—				221				24				(5	)

Global banking revenues, net of interest expense excluding fair value option revenue share and credit mitigation	$	*13,315*			$	8,285			$	*8,537*			$	4,778			$	4,073			$	4,223			$	4,399

(2)

Includes revenue and loss sharing with Global Markets for certain activities and positions.

(3)

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

(4)

Nonperforming assets are on an end-of-period basis and defined as nonperforming loans and leases plus foreclosed properties. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.

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

Information for periods beginning July 1, 2008 include the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Investment Banking Product Rankings


	Six months ended June 30, 2009
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	1	16	%	1	20	%
Leveraged loans	1	14		1	19
Mortgage-backed securities	1	20		1	23
Asset-backed securities	2	11		3	13
Convertible debt	5	8		3	14
Common stock underwriting	5	6		4	12
Investment grade corporate debt	4	6		3	14
Syndicated loans	5	6		2	20
Net investment banking revenue	3	7		2	12
Announced mergers and acquisitions	5	18		5	37
Equity capital markets	4	7		4	12
Debt capital markets	3	6		2	14

Source: Dealogic data. Rankings based on deal volumes except for investment banking revenue rankings which reflect fees. Mergers and acquisition 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 only to the investment bank advising the parent company that is domiciled within that region. Each advisor receives full credit for the deal amount unless advising a minority stakeholder.

Highlights

Global top 3 rankings in:


High-yield corporate debt		Asset-backed securities
Leveraged loans		Debt capital markets
Mortgage-backed securities

U.S. top 3 rankings in:


High-yield corporate debt		Convertible debt
Leveraged loans		Investment grade corporate debt
Mortgage-backed securities		Syndicated loans
Asset-backed securities		Debt capital markets

Figures above include self-led transactions. Excluding self-led deals, global and U.S. asset-backed securities rankings were #1, U.S. investment grade corporate debt ranking was #2, global net investment banking revenue ranking was #2, and U.S. announced mergers and acquisitions ranking was #4, according to Dealogic data.

Information for periods beginning January 1, 2009 includes the Merrill Lynch acquisition.


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

Bank of America Corporation and Subsidiaries

Global Markets Segment Results

(Dollars in millions)


	Six Months Ended June 30							Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
	2009				2008			Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
Net interest income ⁽¹⁾	$	3,396			$	2,332		$	1,507			$	1,889			$	1,528		$	1,285		$	1,197
Noninterest income:
Investment and brokerage services		1,415				406			831				584				150			195			186
Investment banking income		1,306				690			821				485				365			240			380
Trading account profits (losses)		6,935				(1,419	)		2,014				4,921				(3,891	)		(499	)		183
All other income (loss)		(1,701	)			(1,472	)		(721	)			(980	)			(2,717	)		(1,072	)		(568	)

Total noninterest income (loss)		7,955				(1,795	)		2,945				5,010				(6,093	)		(1,136	)		181

Total revenue, net of interest expense		11,351				537			4,452				6,899				(4,565	)		149			1,378
Provision for credit losses		50				(39	)		(1	)			51				13			(24	)		(38	)
Noninterest expense		5,615				1,680			2,559				3,056				1,105			1,120			951

Income (loss) before income taxes		5,686				(1,104	)		1,894				3,792				(5,683	)		(947	)		465
Income tax expense (benefit) ⁽¹⁾		1,874				(413	)		517				1,357				(2,043	)		(352	)		167

Net income (loss)	$	3,812			$	(691	)	$	1,377			$	2,435			$	(3,640	)	$	(595	)	$	298

Return on average equity		26.38		%		n/m			17.81		%		36.26		%		n/m			n/m			9.90		%
Efficiency ratio ⁽¹⁾		49.46				n/m			57.46				44.30				n/m			n/m			69.04
Sales and trading revenue
Fixed income, currency and commodities	$	7,488			$	(1,142	)	$	2,685			$	4,803			$	(5,825	)	$	(653	)	$	661
Equity income		2,614				583			1,165				1,449				(17	)		176			276

Total sales and trading revenue ⁽²⁾	$	10,102			$	(559	)	$	3,850			$	6,252			$	(5,842	)	$	(477	)	$	937

Balance sheet
Average
Total trading-related assets⁽³⁾	$	520,339			$	345,118		$	503,688			$	537,176			$	315,125		$	347,088		$	332,748
Total market-based earning assets		482,356				381,048			475,761				489,024				311,782			370,146			367,193
Total earning assets		493,789				386,286			485,151				502,524				317,636			375,009			372,510
Total assets		692,593				445,251			670,703				714,726				390,274			430,539			429,854
Allocated equity		29,139				11,786			31,022				27,235				15,156			12,035			12,088
Period end
Total trading-related assets⁽³⁾	$	434,967			$	299,828		$	434,967			$	440,839			$	244,174		$	275,703		$	299,828
Total market-based earning assets		400,534				329,394			400,534				381,087				237,618			282,475			329,394
Total earning assets		408,942				334,700			408,942				392,324				243,275			288,107			334,700
Total assets		571,761				388,451			571,761				583,416				306,693			350,326			388,451
Trading-related assets (average)
Trading account securities	$	204,005			$	184,390		$	190,524			$	217,636			$	167,463		$	186,455		$	180,540
Reverse repurchases		137,784				53,405			139,358				136,192				53,193			62,767			51,257
Securities borrowed		69,925				72,290			72,078				67,749				42,580			62,982			65,741
Derivative assets		108,625				35,034			101,728				115,599				51,889			34,884			35,210

Total trading-related assets ⁽³⁾	$	520,339			$	345,119		$	503,688			$	537,176			$	315,125		$	347,088		$	332,748



(1) Fully taxable-equivalent basis
(2) Sales and trading revenue represents total Global Markets revenue, net of interest expense as adjusted by the following items:
Total Global Markets revenue, net of interest expense	$	*11,351*			$	537		$	*4,452*			$	6,899			$	(4,565	)	$	149		$	1,378
Investment banking income		*(1,306*	)			(690	)		*(821*	)			(485	)			(365	)		(240	)		(380	)
Fair value option net interest income		*(135*	)			(56	)		*(70*	)			(65	)			(43	)		(31	)		(25	)
Revenue (loss) shared		*139*				(350	)		*269*				(130	)			(869	)		(131	)		(36	)
(Gain) loss on sale of prime brokerage business		53				—			20				33				—			(224	)		—

Total sales and trading revenue	$	*10,102*			$	(559	)	$	*3,850*			$	6,252			$	(5,842	)	$	(477	)	$	937

(3) Includes assets which are not considered earning assets (i.e. derivative assets).
n/m = not meaningful

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Off-Balance Sheet Special Purpose Entities Liquidity Exposure

(Dollars in millions)


	June 30, 2009
	VIEs ⁽¹⁾		QSPEs ⁽²⁾		Total
Commercial paper conduits:
Multi-seller conduits	$	34,825	$	—	$	34,825
Asset acquisition conduits		1,391		—		1,391
Home equity securitizations		—		13,377		13,377
Municipal bond trusts		3,545		8,421		11,966
Collateralized debt obligation vehicles ⁽³⁾		4,749		—		4,749
Credit-linked note and other vehicles		3,976		—		3,976
Customer conduits		669		—		669
Credit card securitizations		—		946		946

Total liquidity exposure ⁽⁴⁾	$	49,155	$	22,744	$	71,899


	March 31, 2009
	VIEs ⁽¹⁾		QSPEs ⁽²⁾		Total
Commercial paper conduits:
Multi-seller conduits	$	39,919	$	—	$	39,919
Asset acquisition conduits		1,312		—		1,312
Other corporate conduits⁽⁵⁾		—		1,233		1,233
Home equity securitizations		—		12,791		12,791
Municipal bond trusts		3,591		8,904		12,495
Collateralized debt obligation vehicles ⁽³⁾		8,112		—		8,112
Credit-linked note and other vehicles		2,946		—		2,946
Customer conduits		1,482		—		1,482
Credit card securitizations		—		946		946

Total liquidity exposure ⁽⁴⁾	$	57,362	$	23,874	$	81,236

(1)

Variable interest entities (VIEs) are special purpose entities (SPEs) which lack sufficient equity at risk or whose equity investors do not have a controlling financial interest. In accordance with Financial Accounting Standards Board (FASB) Interpretation No. 46 (Revised December 2003), “Consolidation of Variable Interest Entities, an interpretation of ARB No. 51” (FIN 46R), a VIE is consolidated by the party known as the primary beneficiary that will absorb the majority of the expected losses or expected residual returns of the VIEs or both. For example, an entity that holds a majority of the subordinated debt or equity securities issued by a VIE, or protects other investors from loss through a guarantee or similar arrangement, may have to consolidate the VIE. The assets and liabilities of consolidated VIEs are recorded on the Corporation’s balance sheet.

(2)

Qualifying special purposes entities (QSPEs) are SPEs whose activities are strictly limited to holding and servicing financial assets and meet the requirements set forth in SFAS No. 140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities – a replacement of FASB Statement No. 125” (SFAS 140). QSPEs are generally not required to be consolidated by any party. This table includes only those QSPEs to which we have liquidity exposure.

(3)

Includes collateralized debt obligation exposure before writedowns or insurance.

(4)

Merrill Lynch related exposures as of June 30, 2009 were: $6.5 billion municipal bond trusts, $4.7 billion collateralized debt obligation vehicles, $4.0 billion in credit-linked note and other vehicles and $162 million in customer conduits. At March 31, 2009 these exposures were: $8.1 billion collateralized debt obligation vehicles, $6.6 billion municipal bond trusts, $2.9 billion in credit-linked note and other vehicles and $568 million in customer conduits.

(5)

The other corporate conduit exposure was liquidated during second quarter of 2009.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Super Senior Collateralized Debt Obligation Exposure

(Dollars in millions)


	June 30, 2009
	Subprime ⁽¹⁾		Purchased Securities		Total Subprime		Non- Subprime ⁽²⁾		Total
Unhedged	$	670	$	1,241	$	1,911	$	1,558	$	3,469
Hedged⁽³⁾		1,044		—		1,044		768		1,812

Total	$	1,714	$	1,241	$	2,955	$	2,326	$	5,281

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Includes highly rated collateralized loan obligations and commercial mortgage-backed securities super senior exposure.

(3)

Hedged amounts are presented at carrying value before consideration of the insurance.

Credit Default Swaps with Monoline Financial Guarantors

(Dollars in millions)


	June 30, 2009
	Super Senior CDOs				Other Guaranteed Positions				Total
Notional	$	5,573			$	44,899			$	50,472

Mark-to-market or guarantor receivable	$	4,168			$	11,270			$	15,438
Credit valuation adjustment		(2,867	)			(5,729	)			(8,596	)

Total	$	1,301			$	5,541			$	6,842

Credit valuation adjustment %		69		%		51		%		56		%

(Writedowns) gains during the three months ended June 30, 2009	$	(353	)		$	223			$	(130	)

Writedowns during the six months ended June 30, 2009		(612	)			(737	)			(1,349	)

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.

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

Bank of America Corporation and Subsidiaries

Unhedged Subprime Super Senior Collateralized Debt Obligation Carrying Values ⁽¹⁾

(Dollars in millions)


	June 30, 2009
	Subprime Net Exposure		Carrying Value as a Percent of Original Net Exposure		Subprime Content of Collateral ⁽²⁾		Vintage of Subprime Collateral
	Subprime Net Exposure				Subprime Content of Collateral ⁽²⁾		Percent in 2006/2007 Vintages		Percent in 2005/Prior Vintages
Mezzanine super senior liquidity commitments	$	87	4	%	100	%	86	%	14	%
Other super senior exposure
High grade		289	26		64		11		89
Mezzanine		288	17		37		79		21
CDO-squared		6	1		100		100		—

Total other super senior		583

Total super senior	$	670	13


Purchased securities from liquidated CDOs		1,241	21		35		25		75


Total	$	1,911	17

(1)

Classified as subprime when subprime consumer real estate loans make up at least 35 percent of the ultimate underlying collateral’s original net exposure value.

(2)

Based on current net exposure value.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.

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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Segment Results ⁽¹⁾

(Dollars in millions, except as noted)


	Six Months Ended June 30								Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
	2009				2008				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
Net interest income ⁽²⁾	$	2,946			$	2,167			$	1,291			$	1,655			$	1,343			$	1,265			$	1,149
Noninterest income:
Investment and brokerage services		4,540				2,176				2,230				2,310				880				1,002				1,095
All other income (loss)		1,073				(106	)			675				398				(238	)			(703	)			51

Total noninterest income		5,613				2,070				2,905				2,708				642				299				1,146

Total revenue, net of interest expense		8,559				4,237				4,196				4,363				1,985				1,564				2,295
Provision for credit losses		492				362				238				254				152				150				119
Noninterest expense		6,594				2,555				3,304				3,290				1,069				1,286				1,244

Income before income taxes		1,473				1,320				654				819				764				128				932
Income tax expense ⁽²⁾		522				495				213				309				236				51				351

Net income	$	951			$	825			$	441			$	510			$	528			$	77			$	581

Net interest yield ⁽²⁾		2.67		%		2.88		%		2.54		%		2.77		%		3.03		%		3.09		%		2.96		%
Return on average equity		10.70				14.21				9.45				12.09				17.84				2.61				19.84
Efficiency ratio ⁽²⁾		77.04				60.31				78.74				75.41				53.85				82.22				54.21
Balance sheet
Average
Total loans and leases	$	106,117			$	86,609			$	101,748			$	110,535			$	88,876			$	88,255			$	87,574
Total earning assets ⁽³⁾		222,775				151,385				203,528				242,236				176,208				162,858				156,232
Total assets ⁽³⁾		258,260				161,016				238,609				278,130				184,649				172,312				165,682
Total deposits		231,853				152,808				214,111				249,792				171,340				160,999				157,113
Allocated equity		17,918				11,673				18,708				17,119				11,767				11,677				11,775
Period end
Total loans and leases	$	100,878			$	88,172			$	100,878			$	102,766			$	89,401			$	89,004			$	88,172
Total earning assets ⁽³⁾		202,287				157,334				202,287				237,739				178,240				169,582				157,334
Total assets ⁽³⁾		232,913				167,197				232,913				268,133				187,994				179,346				167,197
Total deposits		206,296				158,228				206,296				241,504				175,107				166,273				158,228
Client assets
Assets under management	$	705,216			$	589,459			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459
Client brokerage assets ⁽⁴⁾		1,164,171				210,701				1,164,171				1,102,633				172,106				196,566				210,701
Assets in custody		252,830				156,530				252,830				234,361				133,726				150,575				156,530
Less: Client brokerage assets and assets in custody included in assets under management		(297,869	)			(89,234	)			(297,869	)			(279,130	)			(78,487	)			(82,921	)			(89,234	)

Total net client assets	$	1,824,348			$	867,456			$	1,824,348			$	1,755,235			$	750,504			$	828,658			$	867,456

(1)

GWIM services clients through three primary businesses: Merrill Lynch Global Wealth Management (MLGWM), U.S. Trust, Bank of America Private Wealth Management (U.S. Trust), and Columbia Management (Columbia).

(2)

Fully taxable-equivalent basis

(3)

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

(4)

Client brokerage assets include non-discretionary brokerage and fee-based assets.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Business Results

(Dollars in millions)


	Three Months Ended June 30, 2009
	Total			Merrill Lynch Global Wealth Management^(1,²⁾			U.S. Trust			Columbia Management				Other⁽³⁾
Net interest income⁽⁴⁾	$	1,291		$	1,057		$	334		$	10			$	(110	)
Noninterest income:
Investment and brokerage services		2,230			1,429			331			271				199
All other income		675			492			9			53				121

Total noninterest income		2,905			1,921			340			324				320

Total revenue, net of interest expense		4,196			2,978			674			334				210

Provision for credit losses		238			154			84			—				—
Noninterest expense		3,304			2,374			483			220				227

Income (loss) before income taxes		654			450			107			114				(17	)
Income tax expense (benefit)⁽⁴⁾		213			167			40			42				(36	)

Net income	$	441		$	283		$	67		$	72				19

Net interest yield⁽⁴⁾		2.54	%		2.48	%		2.52	%		n/m				n/m
Return on average equity		9.45			14.44			5.30			41.03		%		n/m
Efficiency ratio ⁽⁴⁾		78.74			79.68			71.76			n/m				n/m
Average - total loans and leases	$	101,748		$	48,830		$	52,901			n/m				n/m
Average - total deposits		214,111			176,859			37,218			n/m				n/m
Period end - total assets ⁽⁵⁾		232,913			183,907			56,738		$	2,647				n/m

	Three Months Ended March 31, 2009
	Total			Merrill Lynch Global Wealth Management ^(1,²⁾			U.S. Trust			Columbia Management				Other⁽³⁾
Net interest income⁽⁴⁾	$	1,655		$	1,405		$	355		$	12			$	(117	)
Noninterest income:
Investment and brokerage services		2,310			1,539			317			260				194
All other income (loss)		398			411			16			(122	)			93

Total noninterest income		2,708			1,950			333			138				287

Total revenue, net of interest expense		4,363			3,355			688			150				170

Provision for credit losses		254			223			31			—				—
Noninterest expense		3,290			2,374			511			234				171

Income (loss) before income taxes		819			758			146			(84	)			(1	)
Income tax expense (benefit)⁽⁴⁾		309			280			54			(31	)			6

Net income (loss)	$	510		$	478		$	92		$	(53	)		$	(7	)


Net interest yield⁽⁴⁾		2.77	%		2.74	%		2.71	%		n/m				n/m
Return on average equity		12.09			28.54			7.64			(28.79	)	%		n/m
Efficiency ratio ⁽⁴⁾		75.41			70.77			74.24			n/m				n/m
Average - total loans and leases	$	110,535		$	57,689			52,832			n/m				n/m
Average - total deposits		249,792			211,445			38,323			n/m				n/m
Period end - total assets ⁽⁵⁾		268,133			217,930			56,493		$	2,642				n/m

	Three Months Ended June 30, 2008
	Total			Merrill Lynch Global Wealth Management ^(1,²⁾			U.S. Trust			Columbia Management				Other
Net interest income⁽⁴⁾	$	1,149		$	778		$	373		$	(6	)		$	4
Noninterest income:
Investment and brokerage services		1,095			263			388			403				41
All other income (loss)		51			66			15			(34	)			4

Total noninterest income		1,146			329			403			369				45

Total revenue, net of interest expense		2,295			1,107			776			363				49

Provision for credit losses		119			112			7			—				—
Noninterest expense		1,244			465			463			304				12

Income before income taxes		932			530			306			59				37
Income tax expense⁽⁴⁾		351			196			113			22				20

Net income	$	581		$	334			193		$	37			$	17

Net interest yield⁽⁴⁾		2.96	%		2.57	%		2.94	%		n/m				n/m
Return on average equity		19.84			40.13			16.42			28.60		%		n/m
Efficiency ratio ⁽⁴⁾		54.21			41.97			59.65			n/m				n/m
Average - total loans and leases	$	87,574		$	36,507		$	51,052			n/m				n/m
Average - total deposits		157,113			120,343			36,464			n/m				n/m
Period end - total assets ⁽⁵⁾		167,197			124,819			56,562		$	2,819				n/m

(1)

MLGWM includes the net impact of migrating customers and their related deposit balances between MLGWM and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment. During the three months ended June 30, 2009 and March 31, 2009, a total of $34.3 billion and $6.1 billion of deposits migrated to Deposits from MLGWM. During the three months ended June 30, 2008, a total of $ 5.6 billion of deposits were migrated from Deposits to MLGWM.

(2)

Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined Merrill Lynch's wealth management business and our former Premier Banking & Investment business to form MLGWM.

(3)

Other includes the results of the Institutional Retirement, Philanthropy & Investments business, the Corporation’s approximately 50 percent economic ownership of BlackRock and other administrative items.

(4)

Fully taxable-equivalent basis

(5)

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 the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Business Results

(Dollars in millions)


	Six Months Ended June 30, 2009
	Total				Merrill Lynch Global Wealth Management ^(1, 2)			U.S. Trust			Columbia Management				Other ⁽³⁾
Net interest income ⁽⁴⁾	$	2,946			$	2,462		$	689		$	22			$	(227	)
Noninterest income:
Investment and brokerage services		4,540				2,968			648			531				393
All other income (loss)		1,073				903			25			(69	)			214

Total noninterest income		5,613				3,871			673			462				607

Total revenue, net of interest expense		8,559				6,333			1,362			484				380

Provision for credit losses		492				377			115			—				—
Noninterest expense		6,594				4,748			994			454				398

Income (loss) before income taxes		1,473				1,208			253			30				(18	)
Income tax expense (benefit) ⁽⁴⁾		522				447			94			11				(30	)

Net income	$	951			$	761		$	159		$	19			$	12

Net interest yield ⁽⁴⁾		2.67		%		2.62	%		2.62	%		n/m				n/m
Return on average equity		10.70				20.93			6.44			5.17		%		n/m
Efficiency ratio ⁽⁴⁾		77.04				74.96			73.01			n/m				n/m
Average - total loans and leases	$	106,117			$	53,235		$	52,867			n/m				n/m
Average - total deposits		231,853				194,057			37,768			n/m				n/m
Period end - total assets ⁽⁵⁾		232,913				183,907			56,738		$	2,647				n/m

	Six Months Ended June 30, 2008
	Total				Merrill Lynch Global Wealth Management ^(1, 2)			U.S. Trust			Columbia Management				Other
Net interest income ⁽⁴⁾	$	2,167			$	1,471		$	694		$	(6	)		$	8
Noninterest income:
Investment and brokerage services		2,176				521			767			801				87
All other income (loss)		(106	)			114			34			(255	)			1

Total noninterest income		2,070				635			801			546				88

Total revenue, net of interest expense		4,237				2,106			1,495			540				96

Provision for credit losses		362				352			10			—				—
Noninterest expense		2,555				919			968			611				57

Income (loss) before income taxes		1,320				835			517			(71	)			39
Income tax expense (benefit) ⁽⁴⁾		495				309			191			(26	)			21

Net income (loss)	$	825			$	526		$	326		$	(45	)		$	18

Net interest yield ⁽⁴⁾		2.88		%		2.50	%		2.82	%		n/m				n/m
Return on average equity		14.21				31.39			14.23			(17.08	)	%		n/m
Efficiency ratio ⁽⁴⁾		60.31				43.61			64.81			n/m				n/m
Average - total loans and leases	$	86,609			$	37,093		$	49,491			n/m				n/m
Average - total deposits		152,808				116,849			35,557			n/m				n/m
Period end - total assets ⁽⁵⁾		167,197				124,819			56,562		$	2,819				n/m

(1)

MLGWM includes the net impact of migrating customers and their related deposit balances between MLGWM and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment. During the six months ended June 30, 2009, a total of $40.5 billion of deposits migrated to Deposits from MLGWM. During the six months ended June 30, 2008, a total of $12.7 billion of deposits migrated from Deposits to MLGWM.

(2)

Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined Merrill Lynch’s wealth management business and our former Premier Banking & Investment business to form MLGWM.

(3)

(4)

Fully taxable-equivalent basis

(5)

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 the current period presentation.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management - Key Indicators

(Dollars in millions, except as noted)


	Six Months Ended June 30								Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
	2009				2008				Second Quarter 2009				First Quarter 2009				Fourth Quarter 2008				Third Quarter 2008				Second Quarter 2008
Investment and Brokerage Services
Merrill Lynch Global Wealth Management
Asset management fees	$	1,499			$	172			$	713			$	786			$	75			$	84			$	84
Brokerage income		1,469				349				716				753				163				157				179

Total	$	2,968			$	521			$	1,429			$	1,539			$	238			$	241			$	263


U.S. Trust
Asset management fees	$	632			$	742			$	325			$	307			$	292			$	317			$	375
Brokerage income		16				25				6				10				12				11				13

Total	$	648			$	767			$	331			$	317			$	304			$	328			$	388


Columbia Management
Asset management fees	$	530			$	799			$	270			$	260			$	301			$	394			$	402
Brokerage income		1				2				1				—				—				—				1

Total	$	531			$	801			$	271			$	260			$	301			$	394			$	403


Other
Asset management fees	$	235			$	87			$	116			$	119			$	37			$	39			$	41
Brokerage income		158				—				83				75				—				—				—

Total	$	393			$	87			$	199			$	194			$	37			$	39			$	41


Total Global Wealth & Investment Management
Asset management fees	$	2,896			$	1,800			$	1,424			$	1,472			$	705			$	834			$	902
Brokerage income		1,644				376				806				838				175				168				193

Total investment and brokerage services	$	4,540			$	2,176			$	2,230			$	2,310			$	880			$	1,002			$	1,095


Assets Under Management
Assets under management by business:
Merrill Lynch Global Wealth Management	$	239,888			$	22,404			$	239,888			$	219,658			$	16,682			$	20,246			$	22,404
U.S. Trust		180,902				210,969				180,902				179,142				178,657				199,682				210,969
Columbia Management		331,810				422,827				331,810				340,692				386,473				407,345				422,827
Institutional Retirement, Philanthropy & Investments		39,298				45,907				39,298				45,304				33,498				39,547				45,907
Eliminations⁽¹⁾		(86,811	)			(113,001	)			(86,811	)			(87,550	)			(92,298	)			(102,621	)			(113,001	)
International Wealth Management		129				353				129				125				147				239				353

Total assets under management	$	705,216			$	589,459			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459


Assets under management rollforward:
Beginning balance	$	523,159			$	643,531			$	697,371			$	523,159			$	564,438			$	589,459			$	607,521
Merrill Lynch balance, January 1, 2009		246,292				—				—				246,292				—				—				—
Net flows		(70,306	)			(18,876	)			(27,071	)			(43,235	)			12,596				7,477				(12,611	)
Market valuation/other		6,071				(35,196	)			34,916				(28,845	)			(53,875	)			(32,498	)			(5,451	)

Ending balance	$	705,216			$	589,459			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459


Assets under management mix:
Money market/other	$	215,637			$	225,887			$	215,637			$	244,577			$	253,310			$	238,075			$	225,887
Fixed income		204,974				107,687				204,974				198,177				102,747				102,596				107,687
Equity		284,605				255,885				284,605				254,617				167,102				223,767				255,885

Total assets under management	$	705,216			$	589,459			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459


Assets under management - domestic and foreign:
Domestic	$	685,492			$	589,106			$	685,492			$	679,927			$	523,012			$	564,199			$	589,106
Foreign		19,724				353				19,724				17,444				147				239				353

Total assets under management	$	705,216			$	589,459			$	705,216			$	697,371			$	523,159			$	564,438			$	589,459


Client Brokerage Assets ⁽²⁾	$	1,164,171			$	210,701			$	1,164,171			$	1,102,633			$	172,106			$	196,566			$	210,701

Merrill Lynch Global Wealth Management Metrics

Number of financial advisors		15,008				1,974				15,008				15,822				2,007				1,964				1,974

Financial Advisor Productivity⁽³⁾(in thousands)	$	813			$	1,777			$	816			$	811			$	1,576			$	1,496			$	1,793

Total client balances⁽⁴⁾	$	1,321,502			$	308,174			$	1,321,502			$	1,292,965			$	290,661			$	301,093			$	308,174

U.S. Trust Metrics

Client facing associates		3,968				4,608				3,968				4,015				4,473				4,467				4,608

Total client balances⁽⁴⁾	$	301,512			$	357,575			$	301,512			$	301,151			$	308,366			$	344,004			$	357,575

Columbia Management Performance Metrics

# of 4 or 5 Star Funds by Morningstar		47				50				47				49				53				53				50

% of Assets Under Management in 4 or 5 Star Rated Funds⁽⁵⁾		46		%		64		%		46		%		49		%		62		%		64		%		64		%

(1)

The elimination of assets under management that are managed by two lines of business.

(2)

The January 1, 2009 acquisition of Merrill Lynch contributed $1.0 trillion to client brokerage assets.

(3)

Financial advisor productivity is defined as annualized total revenue (excluding residual net interest income) divided by the total number of financial advisors. The decline in Financial Advisor productivity in the first quarter 2009 compared to previous quarters results from the inclusion of Merrill Lynch financial advisors. Legacy Bank of America financial advisors historically have had higher amounts of credit and banking activity in their portfolios.

(4)

Client balances are defined as deposits, assets under management, client brokerage assets and other assets in custody.

(5)

Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

All Other Results ^{(1, 2)}

(Dollars in millions)


	Six Months Ended June 30						Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
	2009			2008			Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
Net interest income ⁽³⁾	$	(3,477	)	$	(3,771	)	$	(1,588	)	$	(1,889	)	$	(1,857	)	$	(2,326	)	$	(1,913	)
Noninterest income:
Card income		256			1,259			(278	)		534			368			539			596
Equity investment income (loss)		7,305			977			5,979			1,326			(388	)		(327	)		710
Gains (losses) on sales of debt securities		2,143			351			672			1,471			783			(3	)		131
All other income (loss)		(1,706	)		(349	)		(4,298	)		2,592			(283	)		112			(87	)

Total noninterest income		7,998			2,238			2,075			5,923			480			321			1,350

Total revenue, net of interest expense		4,521			(1,533	)		487			4,034			(1,377	)		(2,005	)		(563	)

Provision for credit losses ⁽⁴⁾		(686	)		(2,161	)		(9	)		(677	)		(613	)		(996	)		(1,033	)
Merger and restructuring charges		1,594			382			829			765			306			247			212
All other noninterest expense		932			253			642			290			187			(24	)		74

Income (loss) before income taxes		2,681			(7	)		(975	)		3,656			(1,257	)		(1,232	)		184
Income tax expense (benefit) ⁽³⁾		(979	)		6			(1,732	)		753			(520	)		(538	)		(42	)

Net income (loss)	$	3,660		$	(13	)	$	757		$	2,903		$	(737	)	$	(694	)	$	226


Balance sheet

Average
Total loans and leases	$	163,770		$	125,695		$	159,142		$	168,450		$	145,238		$	146,303		$	117,504
Total deposits		108,757		$	105,109			108,079			109,447			111,821			105,368			96,998

Period end
Total loans and leases	$	153,008		$	95,826		$	153,008		$	165,534		$	136,160		$	146,363		$	95,826
Total deposits		106,127			93,418			106,127			93,702			87,520			99,913			93,418

(1)

All Other consists of equity investment activities including Global Principal Investments, Corporate Investments and Strategic Investments, the residential mortgage portfolio associated with ALM activities, the residual impact of cost allocation processes, merger and restructuring charges, intersegment eliminations and the results of certain businesses that are expected to be or have been sold or are in the process of being liquidated. All Other also includes certain amounts associated with ALM activities, including the residual impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that do not qualify for SFAS No. 133 “Accounting for Derivative instruments and Hedging Activities, as amended” hedge accounting treatment, foreign exchange rate fluctuations related to SFAS No. 52, “Foreign Currency Translation” revaluation of foreign-denominated debt issuances, certain gains (losses) on sales of whole mortgage loans, and gains (losses) on sales of debt securities. All Other also includes adjustments to noninterest income and income tax expense to remove the FTE impact of items (primarily low-income housing tax credits) that have been grossed up within noninterest income to a FTE amount in the business segments. In addition, All Other includes the offsetting securitization impact to present Global Card Services on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - All Other - Reconciliation on page 46).

(2)

Effective January 1, 2009, as part of the Merrill Lynch acquisition, All Other includes the results of First Republic Bank as well as fair value adjustments related to certain Merrill Lynch structured notes.

(3)

Fully taxable-equivalent basis

(4)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Card Services securitization offset.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Equity Investments

(Dollars in millions)


	Global Principal Investments Exposures								Equity Investment Income (Loss)
	June 30, 2009						March 31, 2009		June 30, 2009
	Book Value		Unfunded Commitments		Total		Total		Three months ended			Six months ended
Global Principal Investments:
Global Private Equity	$	4,289	$	232	$	4,521	$	3,777	$	399		$	44
Global Real Estate		2,486		460		2,946		2,785		(52	)		(85	)
Global Strategic Capital		4,360		2,052		6,412		6,515		(41	)		(93	)
Legacy/Other Investments		751		65		816		852		(2	)		(28	)

Total Global Principal Investments	$	11,886	$	2,809	$	14,695	$	13,929	$	304		$	(162	)

Components of Equity Investment Income (Loss)

(Dollars in millions)


	Six Months Ended June 30					Second Quarter 2009 ⁽¹⁾			First Quarter 2009 ⁽¹⁾			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
	2009			2008		Second Quarter 2009 ⁽¹⁾			First Quarter 2009 ⁽¹⁾			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
Global Principal Investments	$	(162	)	$	308	$	304		$	(466	)	$	(363	)	$	(29	)	$	296
Corporate Investments		(262	)		144		10			(272	)		(295	)		(369	)		112
Strategic and other investments ⁽¹⁾		7,729			525		5,665			2,064			270			71			302

Total equity investment income (loss) included in All Other		7,305			977		5,979			1,326			(388	)		(327	)		710
Total equity investment income (loss) included in the business segments		(160	)		669		(36	)		(124	)		(403	)		11			(118	)

Total consolidated equity investment income (loss)	$	7,145		$	1,646	$	5,943		$	1,202		$	(791	)	$	(316	)	$	592

(1)

Strategic and other investments includes a $5.3 billion and $1.9 billion pre-tax gain on sales of shares of China Construction Bank for the three months ending June 30, 2009 and March 31, 2009, respectively.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for period beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Outstanding Loans and Leases

(Dollars in millions)


	June 30 2009		March 31 2009		Increase (Decrease)
Consumer
Residential mortgage ⁽¹⁾	$	245,967	$	261,583	$	(15,616	)
Home equity		155,058		157,645		(2,587	)
Discontinued real estate ⁽²⁾		17,490		19,000		(1,510	)
Credit card - domestic		48,948		51,309		(2,361	)
Credit card - foreign		20,429		16,651		3,778
Direct/Indirect consumer⁽³⁾		99,154		99,696		(542	)
Other consumer ⁽⁴⁾		3,390		3,297		93

Total consumer		590,436		609,181		(18,745	)


Commercial
Commercial - domestic ⁽⁵⁾		217,571		229,779		(12,208	)
Commercial real estate ⁽⁶⁾		75,081		75,269		(188	)
Commercial lease financing		22,387		22,017		370
Commercial - foreign		29,811		33,407		(3,596	)

Total commercial loans		344,850		360,472		(15,622	)
Commercial loans measured at fair value ⁽⁷⁾		6,962		7,355		(393	)

Total commercial		351,812		367,827		(16,015	)

Total loans and leases	$	942,248	$	977,008	$	(34,760	)

(1)

Includes foreign residential mortgages of $710 million and $651 million at June 30, 2009 and March 31, 2009.

(2)

At June 30, 2009 and March 31, 2009, includes $15.9 billion and $17.3 billion of pay option loans, and $1.6 billion and $1.7 billion of subprime loans obtained as part of the acquisition of Countrywide. The Corporation no longer originates these products.

(3)

Includes dealer financial services of $40.9 billion and $40.1 billion, consumer lending of $24.2 billion and $26.6 billion, and securities based lending margin loans of $11.0 billion and $10.4 billion at June 30, 2009 and March 31, 2009. In addition, includes foreign consumer loans of $7.7 billion and $7.5 billion at June 30, 2009 and March 31, 2009.

(4)

Includes consumer finance loans of $2.4 billion and $2.5 billion, and other foreign consumer loans of $721 million and $618 million at June 30, 2009 and March 31, 2009.

(5)

Includes small business commercial - domestic loans, primarily card related, of $18.1 billion and $18.8 billion at June 30, 2009 and March 31, 2009.

(6)

Includes domestic commercial real estate loans of $71.6 billion and $73.0 billion, and foreign commercial real estate loans of $3.5 billion and $2.2 billion at June 30, 2009 and March 31, 2009.

(7)

Certain commercial loans are measured at fair value in accordance with SFAS 159 and include commercial - domestic loans of $4.4 billion and $4.8 billion, commercial - foreign loans of $2.5 billion and $2.5 billion, and commercial real estate loans of $123 million and $89 million at June 30, 2009 and March 31, 2009.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Quarterly Average Loans and Leases by Business Segment

(Dollars in millions)


	Second Quarter 2009
	Total Corporation		Deposits			Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	253,803	$	—		$	—	$	—	$	382	$	650		$	36,214	$	216,557
Home equity		156,599		—			—		129,420		1,052		—			19,556		6,571
Discontinued real estate		18,309		—			—		—		—		—			—		18,309
Credit card - domestic		51,721		—			143,209		—		—		—			—		(91,488	)
Credit card - foreign		18,825		—			29,383		—		—		—			—		(10,558	)
Direct/Indirect consumer		100,302		10,376			27,172		69		41,233		5			21,293		154
Other consumer		3,298		245			655		18		9		2			14		2,355

Total consumer		602,857		10,621			200,419		129,507		42,676		657			77,077		141,900

Commercial
Commercial - domestic		231,639		202			18,381		1,990		164,673		11,817			22,357		12,219
Commercial real estate		75,559		22			196		12		64,609		1,888			2,243		6,589
Commercial lease financing		22,026		—			—		—		24,208		2			—		(2,184	)
Commercial - foreign		34,024		—			1,369		—		27,051		4,915			71		618

Total commercial		363,248		224			19,946		2,002		280,541		18,622			24,671		17,242

Total loans and leases	$	966,105	$	10,845		$	220,365	$	131,509	$	323,217	$	19,279		$	101,748	$	159,142


	First Quarter 2009
	Total Corporation		Deposits			Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	265,121	$	—		$	—	$	485	$	455	$	546		$	38,780	$	224,855
Home equity		158,575		—			—		123,998		1,061		—			26,582		6,934
Discontinued real estate		19,386		—			—		—		—		—			—		19,386
Credit card - domestic		58,960		—			150,820		—		—		—			—		(91,860	)
Credit card - foreign		16,858		—			27,670		—		—		—			—		(10,812	)
Direct/Indirect consumer		100,741		9,718			29,279		96		41,201		130			20,359		(42	)
Other consumer		3,408		354			580		579		21		2			55		1,817

Total consumer		623,049		10,072			208,349		125,158		42,738		678			85,776		150,278

Commercial
Commercial - domestic		240,683		298			18,725		1,515		174,548		10,213			22,547		12,837
Commercial real estate		72,206		39			166		12		62,532		1,050			2,144		6,263
Commercial lease financing		22,056		—			—		—		24,316		—			—		(2,260	)
Commercial - foreign		36,127		—			1,221		—		26,840		6,666			68		1,332

Total commercial		371,072		337			20,112		1,527		288,236		17,929			24,759		18,172

Total loans and leases	$	994,121	$	10,409		$	228,461	$	126,685	$	330,974	$	18,607		$	110,535	$	168,450


	Second Quarter 2008
	Total Corporation		Deposits			Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Banking		Global Markets			GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	256,164	$	—		$	—	$	—	$	921	$	(301	)	$	35,469	$	220,075
Home equity		120,265		—			—		90,882		891		—			23,251		5,241
Discontinued real estate		n/a		n/a			n/a		n/a		n/a		n/a			n/a		n/a
Credit card - domestic		61,655		—			152,614		—		—		—			—		(90,959	)
Credit card - foreign		16,566		—			33,045		—		—		—			—		(16,479	)
Direct/Indirect consumer		82,593		6,999			30,686		127		40,344		—			5,255		(818	)
Other consumer		3,953		116			843		3		21		3			28		2,939

Total consumer		541,196		7,115			217,188		91,012		42,177		(298	)		64,003		119,999

Commercial
Commercial - domestic		219,537		182			19,837		7		161,013		17,005			21,924		(431	)
Commercial real estate		62,810		(11	)		293		180		59,910		902			1,564		(28	)
Commercial lease financing		22,276		—			—		—		24,287		81			—		(2,092	)
Commercial - foreign		32,820		—			1,600		—		27,895		3,186			83		56

Total commercial		337,443		171			21,730		187		273,105		21,174			23,571		(2,495	)

Total loans and leases	$	878,639	$	7,286		$	238,918	$	91,199	$	315,282	$	20,876		$	87,574	$	117,504

(1)

Global Card Services is presented on a managed basis with a corresponding offset recorded in All Other.

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Commercial Credit Exposure by Industry ^{(1, 2, 3)}

(Dollars in millions)


	Commercial Utilized							Total Commercial Committed
	June 30 2009		March 31 2009		Increase (Decrease)			June 30 2009			March 31 2009			Increase (Decrease)
	June 30 2009		March 31 2009		Increase (Decrease)			June 30 2009			March 31 2009			Increase (Decrease)
Diversified financials	$	74,089	$	88,675	$	(14,586	)	$	121,600		$	142,112		$	(20,512	)
Real estate ⁽⁴⁾		83,426		86,365		(2,939	)		103,560			108,562			(5,002	)
Government and public education		44,432		46,149		(1,717	)		62,987			65,806			(2,819	)
Capital goods		28,385		29,795		(1,410	)		53,870			55,935			(2,065	)
Healthcare equipment and services		31,635		33,575		(1,940	)		47,382			49,540			(2,158	)
Retailing		27,062		28,506		(1,444	)		45,729			47,429			(1,700	)
Consumer services		28,688		29,576		(888	)		43,999			44,679			(680	)
Commercial services and supplies		26,973		27,058		(85	)		38,755			38,655			100
Materials		20,278		23,515		(3,237	)		36,068			40,113			(4,045	)
Individuals and trusts		26,648		24,921		1,727			35,290			33,861			1,429
Insurance		26,077		32,385		(6,308	)		33,404			40,032			(6,628	)
Food, beverage and tobacco		15,859		16,902		(1,043	)		28,843			29,789			(946	)
Utilities		10,484		12,117		(1,633	)		26,860			27,898			(1,038	)
Banks		21,416		32,408		(10,992	)		24,831			36,277			(11,446	)
Energy		12,208		14,006		(1,798	)		24,776			26,504			(1,728	)
Media		12,435		13,349		(914	)		23,539			24,278			(739	)
Transportation		13,421		14,283		(862	)		19,554			20,681			(1,127	)
Religious and social organizations		9,688		9,844		(156	)		12,530			12,932			(402	)
Consumer durables and apparel		5,383		6,135		(752	)		10,198			10,661			(463	)
Telecommunication services		3,892		4,894		(1,002	)		10,123			11,257			(1,134	)
Software and services		3,880		4,429		(549	)		10,006			10,144			(138	)
Pharmaceuticals and biotechnology		3,574		3,402		172			9,913			11,264			(1,351	)
Technology hardware and equipment		3,446		3,770		(324	)		9,902			10,684			(782	)
Food and staples retailing		4,356		4,361		(5	)		7,367			7,380			(13	)
Automobiles and components		3,269		3,314		(45	)		6,243			6,235			8
Other		6,049		6,071		(22	)		10,883			12,154			(1,271	)
Total commercial credit exposure by industry	$	547,053	$	599,805	$	(52,752	)	$	858,212		$	924,862		$	(66,650	)

Net credit default protection purchased on total commitments ⁽⁵⁾								$	(25,980	)	$	(22,674	)

(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 reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $63.3 billion and $72.8 billion at June 30, 2009 and March 31, 2009. Not reflected in utilized and committed exposure is additional derivative collateral held of $11.5 billion and $16.9 billion which consists primarily of other marketable securities at June 30, 2009 and March 31, 2009.

(2)

Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value in accordance with SFAS 159 and are comprised of loans outstanding of $7.0 billion and $7.4 billion and issued letters of credit at notional value of $2.1 billion and $2.2 billion at June 30, 2009 and March 31, 2009. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $24.7 billion and $25.4 billion at June 30, 2009 and March 31, 2009.

(3)

Includes small business commercial - domestic exposure.

(4)

Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based upon the borrowers’ or counterparties’ primary business activity using operating cash flow 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.

Information for periods beginning July 1, 2008 include the Countrywide acquisition. Information for the period beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Net Credit Default Protection by Maturity Profile ⁽¹⁾


	June 30 2009		March 31 2009
Less than or equal to one year	9	%	10	%
Greater than one year and less than or equal to five years	85		90
Greater than five years	6		—
Total net credit default protection	100	%	100	%

(1)

In order to mitigate the cost of purchasing credit protection, credit exposure can be added by selling credit protection. The distribution of maturities for net credit default protection purchased is shown above.

Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾

(Dollars in millions)


	June 30, 2009						March 31, 2009
Ratings ⁽²⁾	Net Notional			Percent			Net Notional			Percent
AAA	$	35		(0.1	)	%	$	30		(0.1	)	%
AA		(1,180	)	4.5				(1,498	)	6.6
A		(7,198	)	27.7				(6,871	)	30.3
BBB		(11,786	)	45.4				(11,211	)	49.3
BB		(3,057	)	11.8				(2,826	)	12.5
B		(891	)	3.4				(968	)	4.3
CCC and below		(1,921	)	7.4				(1,805	)	8
NR⁽³⁾		18		(0.1	)			2,475		(10.9	)
Total net credit default protection ⁽⁴⁾	$	(25,980	)	100.0		%	$	(22,674	)	100.0		%

(1)

In order 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)

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

(3)

In addition to names which have not been rated, “NR” includes $157 million and $2.6 billion in net credit default swap index positions at June 30, 2009 and March 31, 2009. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

(4)

At June 30, 2009 and March 31, 2009, included net notional credit default protection purchased of $12.1 billion and $12.9 billion in single name credit default swaps that were acquired as part of the Merrill Lynch acquisition.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Selected Emerging Markets ⁽¹⁾

(Dollars in millions)


	Loans and Leases, and Loan Commitments		Other Financing ⁽²⁾		Derivative Assets ⁽³⁾		Securities / Other Investments ⁽⁴⁾		Total Cross-border Exposure ⁽⁵⁾		Local Country Exposure Net of Local Liabilities ⁽⁶⁾		Total Emerging Markets Exposure June 30, 2009		Increase (Decrease) from March 31, 2009
Region/Country
Asia Pacific
China ⁽⁷⁾	$	492	$	218	$	777	$	10,679	$	12,166	$	—	$	12,166	$	(7,514	)
South Korea		339		1,169		2,297		2,337		6,142		191		6,333		(1,180	)
India		1,404		511		902		1,874		4,691		1,247		5,938		21
Singapore		637		165		336		1,072		2,210		—		2,210		299
Hong Kong		561		137		431		329		1,458		—		1,458		(74	)
Philippines		24		28		51		474		577		1		578		157
Taiwan		259		20		90		114		483		87		570		(371	)
Other Asia Pacific ⁽⁸⁾		164		43		200		509		916		46		962		(7	)
Total Asia Pacific		3,880		2,291		5,084		17,388		28,643		1,572		30,215		(8,669	)
Latin America
Brazil ⁽⁹⁾		480		831		380		5,109		6,800		375		7,175		993
Mexico ⁽¹⁰⁾		2,124		246		395		2,866		5,631		106		5,737		128
Chile		230		476		421		66		1,193		3		1,196		29
Other Latin America ⁽⁸⁾		126		264		471		520		1,381		144		1,525		(170	)
Total Latin America		2,960		1,817		1,667		8,561		15,005		628		15,633		980
Middle East and Africa
South Africa		181		11		54		902		1,148		—		1,148		(27	)
United Arab Emirates		387		36		163		73		659		—		659		(156	)
Other Middle East and Africa ⁽⁸⁾		537		65		223		553		1,378		—		1,378		(315	)
Total Middle East and Africa		1,105		112		440		1,528		3,185		—		3,185		(498	)
Central and Eastern Europe
Russian Federation		256		—		171		304		731		—		731		(109	)
Other Central and Eastern Europe ⁽⁸⁾		675		165		372		527		1,739		—		1,739		(38	)
Total Central and Eastern Europe		931		165		543		831		2,470		—		2,470		(147	)
Total emerging market exposure	$	8,876	$	4,385	$	7,734	$	28,308	$	49,303	$	2,200	$	51,503	$	(8,334	)

(1)

There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe excluding Greece. There was no emerging market exposure included in the portfolio measured at fair value in accordance with SFAS 159 at June 30, 2009 and March 31, 2009.

(2)

Includes acceptances, standby letters of credit, commercial letters of credit and formal guarantees.

(3)

Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $774 million and $635 million at June 30, 2009 and March 31, 2009. At June 30, 2009 and March 31, 2009, there were $863 million and $1.1 billion of other marketable securities collateralizing derivative assets for which credit risk has not been reduced.

(4)

Generally, cross-border resale agreements are presented based on the domicile of the counterparty, consistent with Federal Financial Institutions Examination Council (FFIEC) reporting requirements. Cross-border resale agreements where the underlying securities are U.S. Treasury securities, in which case the domicile is the U.S., are excluded from this presentation.

(5)

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

(6)

Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Local funding or liabilities are subtracted from local exposures consistent with FFIEC reporting requirements. Total amount of available local liabilities funding local country exposure at June 30, 2009 was $15.3 billion compared to $17.6 billion at March 31, 2009. Local liabilities at June 30, 2009 in Asia Pacific and Latin America were $14.8 billion and $451 million, of which $7.6 billion were in Singapore, $2.0 billion in Hong Kong, $1.4 billion in India, $1.3 billion in South Korea, $1.3 billion in China, and $521 million in Taiwan. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

(7)

Securities/Other Investments include an investment of $9.2 billion in China Construction Bank (CCB).

(8)

No country included in Other Asia Pacific, Other Latin America, Other Middle East and Africa, or Other Central and Eastern Europe had total foreign exposure of more than $500 million.

(9)

Securities/Other Investments include an investment of $3.5 billion in Banco Itaú Holding Financeira S.A.

(10)

Securities/Other Investments include an investment of $2.4 billion in Grupo Financiero Santander, S.A.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Nonperforming Assets

(Dollars in millions)


	June 30, 2009			March 31, 2009			December 31, 2008			September 30, 2008			June 30, 2008
Residential mortgage	$	13,615		$	10,846		$	7,057		$	4,638		$	3,269
Home equity		3,826			3,497			2,637			2,049			1,851
Discontinued real estate		181			129			77			33			n/a
Direct/Indirect consumer		57			29			26			13			11
Other consumer		93			91			91			89			89

Total consumer		17,772			14,592			9,888			6,822			5,220


Commercial - domestic ⁽¹⁾		4,204			3,022			2,040			1,566			1,079
Commercial real estate		6,651			5,662			3,906			3,090			2,616
Commercial lease financing		104			104			56			35			40
Commercial - foreign		250			300			290			48			48

		11,209			9,088			6,292			4,739			3,783
Small business commercial-domestic		200			224			205			183			153

Total commercial		11,409			9,312			6,497			4,922			3,936

Total nonperforming loans and leases		29,181			23,904			16,385			11,744			9,156
Foreclosed properties		1,801			1,728			1,827			1,832			593

Total nonperforming assets ^{(2, 3, 4)}	$	30,982		$	25,632		$	18,212		$	13,576		$	9,749


Loans past due 90 days or more and still accruing ^{(2, 4, 5)}	$	6,403		$	6,344		$	5,414		$	4,819		$	4,548

Nonperforming assets/Total assets ⁽⁶⁾		1.38	%		1.11	%		1.00	%		0.74	%		0.57	%

Nonperforming assets/Total loans, leases and foreclosed properties⁽⁶⁾		3.31			2.64			1.96			1.45			1.13

Nonperforming loans and leases/Total loans and leases outstanding⁽⁶⁾		3.12			2.47			1.77			1.25			1.06

Allowance for credit losses:
Allowance for loan and lease losses	$	33,785		$	29,048		$	23,071		$	20,346		$	17,130
Reserve for unfunded lending commitments ⁽⁷⁾		1,992			2,102			421			427			507

Total allowance for credit losses	$	35,777		$	31,150		$	23,492		$	20,773		$	17,637


Allowance for loan and lease losses/Total loans and leases outstanding ^{(6, 8)}		3.61	%		3.00	%		2.49	%		2.17	%		1.98	%

Allowance for loan and lease losses/Total nonperforming loans and leases^{(6, 8)}		116			122			141			173			187

Commercial utilized reservable criticized exposure ⁽⁹⁾	$	57,180		$	48,660		$	36,937		$	31,009		$	25,998

Commercial utilized reservable criticized exposure/Commercial utilized exposure ⁽⁹⁾		13.53	%		11.13	%		8.90	%		7.45	%		6.23	%

(1)

Excludes small business commercial - domestic loans.

(2)

Balances do not include loans accounted for in accordance with SOP 03-3 even though the customer may be contractually past due. Loans accounted for in accordance with SOP 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.

(3)

Balances do not include nonperforming loans held-for-sale of $2.6 billion, $2.5 billion, $1.3 billion, $848 million and $388 million at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.

(4)

Balances do not include loans measured at fair value in accordance with SFAS 159. At June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, there were no nonperforming loans measured at fair value in accordance with SFAS 159. At June 30, 2008, there were $81 million of loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159. At June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, there were no loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159.

(5)

Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $0, $18 million, $31 million, $138 million and $32 million at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.

(6)

Ratios do not include loans measured at fair value in accordance with SFAS 159 of $7.0 billion, $7.4 billion, $5.4 billion, $5.4 billion and $5.0 billion at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.

(7)

The majority of the increase from December 31, 2008 relates to the fair value of the acquired Merrill Lynch unfunded lending commitments, excluding commitments accounted for under SFAS 159.

(8)

The Corporation accounts for acquired impaired loans in accordance with SOP 03-3.

(9)

Criticized exposure and ratios exclude assets held-for-sale, exposure measured at fair value in accordance with SFAS 159 and other nonreservable exposure. Including assets held-for-sale, other nonreservable exposure and commercial loans measured at fair value, the ratios would have been 14.93 percent, 12.63 percent, 9.45 percent, 7.94 percent and 6.62 percent at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.

n/a = not applicable

Loans are classified as domestic or foreign based upon the domicile of the borrower.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Nonperforming Asset Activity

(Dollars in millions)


	Second Quarter 2009			First Quarter 2009			Fourth Quarter 2008			Third Quarter 2008			Second Quarter 2008
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	14,592		$	9,888		$	6,822		$	5,220		$	4,459
Additions ⁽¹⁾		6,807			8,218			5,444			3,518			2,540
Paydowns and payoffs		(172	)		(268	)		(167	)		(294	)		(125	)
Return to performing status ⁽²⁾		(730	)		(796	)		(443	)		(301	)		(398	)
Charge-offs⁽³⁾		(2,517	)		(2,069	)		(1,436	)		(1,092	)		(999	)
Other		(208	)		(381	)		(332	)		(229	)		(257	)

Total nonperforming consumer loans and leases, end of period		17,772			14,592			9,888			6,822			5,220
Foreclosed properties		1,330			1,356			1,506			1,656			475

Total nonperforming consumer assets	$	19,102		$	15,948		$	11,394		$	8,478		$	5,695

Nonperforming Commercial Loans and Leases ⁽⁴⁾:
Balance, beginning of period	$	9,312		$	6,497		$	4,922		$	3,936		$	2,874
Additions ⁽¹⁾		4,416			4,434			3,095			1,997			1,752
Paydowns and payoffs		(593	)		(490	)		(368	)		(371	)		(345	)
Return to performing status ⁽²⁾		(92	)		(55	)		(35	)		(29	)		(32	)
Charge-offs ⁽⁵⁾		(1,429	)		(976	)		(896	)		(495	)		(248	)
Other		(205	)		(98	)		(221	)		(116	)		(65	)

Total nonperforming commercial loans and leases, end of period		11,409			9,312			6,497			4,922			3,936
Foreclosed properties		471			372			321			176			118

Total nonperforming commercial assets	$	11,880		$	9,684		$	6,818		$	5,098		$	4,054

(1)

The three months ended March 31, 2009 includes $465 million of nonperforming consumer loans and leases and $402 million of nonperforming commercial loans and leases acquired from Merrill Lynch.

(2)

Loans and leases may be restored 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 six consecutive, on-time payments.

(3)

Our policy is not to classify consumer credit card and consumer non-real estate loans and leases as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity.

(4)

Includes small business commercial – domestic activity.

(5)

Certain loan and lease products, including business card, are not classified as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios ⁽¹⁾

(Dollars in millions)


	Second Quarter 2009					First Quarter 2009					Fourth Quarter 2008					Third Quarter 2008					Second Quarter 2008
Held Basis	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	1,085		1.72	%	$	785		1.20	%	$	466		0.73	%	$	242		0.37	%	$	151		0.24	%
Home equity		1,839		4.71			1,681		4.30			1,113		2.92			964		2.53			923		3.09
Discontinued real estate		35		0.76			15		0.31			19		0.36			(3	)	(0.05	)		n/a		n/a
Credit card - domestic		1,788		13.87			1,426		9.81			1,244		7.63			1,094		6.86			976		6.36
Credit card - foreign		276		5.88			186		4.48			162		3.75			148		3.46			132		3.21
Direct/Indirect consumer		1,475		5.90			1,249		5.03			1,054		5.03			845		3.94			660		3.22
Other consumer		99		11.93			97		11.67			124		13.79			106		11.36			83		8.47

Total consumer		6,597		4.39			5,439		3.54			4,182		2.79			3,396		2.24			2,925		2.17

Commercial - domestic ⁽²⁾		536		1.03			244		0.46			255		0.50			117		0.23			70		0.14
Commercial real estate		629		3.34			455		2.56			382		2.36			262		1.65			136		0.88
Commercial lease financing		44		0.81			67		1.22			31		0.57			8		0.13			6		0.11
Commercial - foreign		122		1.54			104		1.25			129		1.63			46		0.56			5		0.06

		1,331		1.58			870		1.02			797		0.99			433		0.54			217		0.28
Small business commercial - domestic		773		16.69			633		13.47			562		11.55			527		10.64			477		9.59

Total commercial		2,104		2.37			1,503		1.68			1,359		1.59			960		1.13			694		0.84

Total net charge-offs	$	8,701		3.64		$	6,942		2.85		$	5,541		2.36		$	4,356		1.84		$	3,619		1.67


By Business Segment
Deposits	$	88		3.26	%	$	88		3.42	%	$	106		4.89	%	$	96		4.85	%	$	78		4.33	%
Global Card Services ⁽³⁾		7,096		12.91			5,406		9.60			4,623		7.88			4,185		6.94			3,768		6.34
Home Loans & Insurance		1,598		4.88			1,492		4.77			976		3.18			844		2.75			841		3.71
Global Markets		29		1.00			5		0.17			15		0.87			16		0.36			—		—
Global Banking		1,477		1.83			1,122		1.37			992		1.19			588		0.73			318		0.41
Global Wealth & Investment Management		172		0.68			162		0.60			145		0.65			108		0.49			92		0.42
All Other ⁽³⁾		(1,759	)	(4.43	)		(1,333	)	(3.21	)		(1,316	)	(3.60	)		(1,481	)	(4.03	)		(1,478	)	(5.06	)

Total net charge-offs	$	8,701		3.64		$	6,942		2.85		$	5,541		2.36		$	4,356		1.84		$	3,619		1.67


Supplemental managed basis data
Credit card - domestic	$	4,530		12.69	%	$	3,421		9.20	%	$	2,929		7.66	%	$	2,643		6.87	%	$	2,414		6.36	%
Credit card - foreign		517		7.06			373		5.47			334		4.57			353		4.21			337		4.11

Total credit card managed net losses	$	5,047		11.73		$	3,794		8.62		$	3,263		7.16		$	2,996		6.40		$	2,751		5.96

(1)

Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases excluding loans measured at fair value in accordance with SFAS 159 during the period for each loan and lease category.

(2)

Excludes small business commercial - domestic loans.

(3)

Global Card Services is presented on a managed basis. The securitization offset is included within All Other.

n/a = not applicable

Loans are classified as domestic or foreign based upon the domicile of the borrower.

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

LOGO

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios⁽¹⁾

(Dollars in millions)


	Six Months Ended June 30
	2009						2008
Held Basis	Amount			Percent			Amount			Percent
Residential mortgage	$	1,870		1.45		%	$	217		0.17		%
Home equity		3,520		4.50				1,419		2.41
Discontinued real estate		50		0.53				n/a		n/a
Credit card - domestic		3,214		11.72				1,823		5.87
Credit card - foreign		462		5.22				241		3.05
Direct/Indirect consumer		2,724		5.46				1,215		3.03
Other consumer		196		11.80				169		8.54

Total consumer		12,036		3.96				5,084		1.88

Commercial - domestic ⁽²⁾		780		0.74				147		0.15
Commercial real estate		1,084		2.96				243		0.79
Commercial lease financing		111		1.02				21		0.19
Commercial - foreign		226		1.39				(2	)	(0.02	)

		2,201		1.30				409		0.27
Small business commercial - domestic		1,406		15.07				841		8.52

Total commercial		3,607		2.02				1,250		0.77

Total net charge-offs	$	15,643		3.24			$	6,334		1.46

By Business Segment
Deposits	$	176		3.34		%	$	164		4.46		%
Global Card Services ⁽³⁾		12,502		11.24				6,915		5.87
Home Loans & Insurance		3,090		4.83				1,284		2.89
Global Markets		34		0.60				1		0.01
Global Banking		2,599		1.60				646		0.42
Global Wealth & Investment Management		334		0.64				144		0.33
All Other ⁽³⁾		(3,092	)	(3.81	)			(2,820	)	(4.51	)

Total net charge-offs	$	15,643		3.24			$	6,334		1.46


Supplemental managed basis data
Credit card - domestic	$	7,951		10.91		%	$	4,482		5.92		%
Credit card - foreign		890		6.29				641		3.97

Total credit card managed net losses	$	8,841		10.16			$	5,123		5.58

(1)

(2)

Excludes small business commercial - domestic loans.

(3)

Global Card Services is presented on a managed basis. The securitization offset is included within All Other.

n/a = not applicable

Loans are classified as domestic or foreign based upon the domicile of the borrower.

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Bank of America Corporation and Subsidiaries

Allocation of the Allowance for Credit Losses by Product Type ⁽¹⁾

(Dollars in millions)


	June 30, 2009						March 31, 2009						June 30, 2008
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽²⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽²⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽²⁾
Residential mortgage	$	4,119	12.19	%	1.67	%	$	2,856	9.83	%	1.09	%	$	792	4.62	%	0.34	%
Home equity		8,664	25.64		5.59			7,457	25.67		4.73			3,812	22.25		3.14
Discontinued real estate		398	1.18		2.28			67	0.23		0.35			n/a	n/a		n/a
Credit card - domestic		5,153	15.25		10.53			4,597	15.83		8.96			3,210	18.74		5.17
Credit card - foreign		1,320	3.91		6.46			866	2.98		5.20			474	2.77		2.86
Direct/Indirect consumer		5,369	15.89		5.41			5,381	18.52		5.40			2,964	17.30		3.49
Other consumer		210	0.63		6.22			202	0.70		6.11			185	1.09		4.81

Total consumer		25,233	74.69		4.27			21,426	73.76		3.52			11,437	66.77		2.18

Commercial - domestic ⁽³⁾		5,486	16.24		2.52			5,264	18.12		2.29			3,844	22.44		1.74
Commercial real estate		2,396	7.09		3.19			1,756	6.05		2.33			1,333	7.78		2.12
Commercial lease financing		255	0.75		1.14			238	0.82		1.08			199	1.16		0.87
Commercial - foreign		415	1.23		1.39			364	1.25		1.09			317	1.85		0.91

Total commercial ⁽⁴⁾		8,552	25.31		2.48			7,622	26.24		2.11			5,693	33.23		1.67

Allowance for loan and lease losses		33,785	100.00	%	3.61			29,048	100.00	%	3.00			17,130	100.00	%	1.98

Reserve for unfunded lending commitments ⁽⁵⁾		1,992						2,102						507

Allowance for credit losses	$	35,777					$	31,150					$	17,637

(1)

The Corporation accounts for acquired impaired loans in accordance with SOP 03-3.

(2)

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured in accordance with SFAS 159 for each loan and lease category. Loans measured at fair value include commercial - domestic loans of $4.4 billion, $4.8 billion and $3.5 billion, commercial - foreign loans of $2.5 billion, $2.5 billion and $1.3 billion, and commercial real estate loans of $123 million, $89 million and $176 million at June 30, 2009, March 31, 2009 and June 30, 2008.

(3)

Includes allowance for small business commercial - domestic loans of $2.8 billion, $3.1 billion and $2.1 billion at June 30, 2009, March 31, 2009 and June 30, 2008.

(4)

Includes allowance for loan and lease losses for impaired commercial loans of $1.6 billion, $1.1 billion and $417 million at June 30, 2009, March 31, 2009 and June 30, 2008.

(5)

Amounts for the periods beginning January 1, 2009 include the Merrill Lynch acquisition. The majority of the increase from June 30, 2008 relates to the fair value of the acquired Merrill Lynch unfunded lending commitments, excluding commitments accounted for under SFAS 159.

n/a = not applicable

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Global Card Services - Reconciliation

(Dollars in millions)


	Six Months Ended June 30, 2009									Six Months Ended June 30, 2008									Second Quarter 2009
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	10,308		$	(4,749	)	$	5,559		$	9,331		$	(4,195	)	$	5,136		$	5,049		$	(2,358	)	$	2,691
Noninterest income:
Card income		4,279			(348	)		3,931			5,275			1,261			6,536			2,164			(592	)		1,572
All other income		259			(67	)		192			824			(125	)		699			124			(32	)		92

Total noninterest income		4,538			(415	)		4,123			6,099			1,136			7,235			2,288			(624	)		1,664

Total revenue, net of interest expense		14,846			(5,164	)		9,682			15,430			(3,059	)		12,371			7,337			(2,982	)		4,355

Provision for credit losses		16,182			(5,164	)		11,018			8,711			(3,059	)		5,652			7,741			(2,982	)		4,759
Noninterest expense		4,053			—			4,053			4,572			—			4,572			1,976			—			1,976

Income (loss) before income taxes		(5,389	)		—			(5,389	)		2,147			—			2,147			(2,380	)		—			(2,380	)
Income tax expense (benefit)⁽³⁾		(1,895	)		—			(1,895	)		746			—			746			(762	)		—			(762	)

Net income (loss)	$	(3,494	)	$	—		$	(3,494	)	$	1,401		$	—		$	1,401		$	(1,618	)	$	—		$	(1,618	)


Balance sheet
Average - total loans and leases	$	224,391		$	(102,357	)	$	122,034		$	236,738		$	(106,306	)	$	130,432		$	220,365		$	(102,046	)	$	118,319
Period end - total loans and leases		215,904			(100,438	)		115,466			240,617			(108,520	)		132,097			215,904			(100,438	)		115,466

	First Quarter 2009									Fourth Quarter 2008									Third Quarter 2008
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	5,259		$	(2,391	)	$	2,868		$	5,302		$	(2,299	)	$	3,003		$	4,922		$	(2,207	)	$	2,715
Noninterest income:
Card income		2,115			244			2,359			2,469			482			2,951			2,290			507			2,797
All other income		135			(35	)		100			239			(40	)		199			534			(54	)		480

Total noninterest income		2,250			209			2,459			2,708			442			3,150			2,824			453			3,277

Total revenue, net of interest expense		7,509			(2,182	)		5,327			8,010			(1,857	)		6,153			7,746			(1,754	)		5,992

Provision for credit losses		8,441			(2,182	)		6,259			5,851			(1,857	)		3,994			5,602			(1,754	)		3,848
Noninterest expense		2,077			—			2,077			2,177			—			2,177			2,404			—			2,404

Income (loss) before income taxes		(3,009	)		—			(3,009	)		(18	)		—			(18	)		(260	)		—			(260	)
Income tax expense (benefit)⁽³⁾		(1,133	)		—			(1,133	)		(61	)		—			(61	)		(89	)		—			(89	)

Net income (loss)	$	(1,876	)	$	—		$	(1,876	)	$	43		$	—		$	43		$	(171	)	$	—		$	(171	)


Balance sheet
Average - total loans and leases	$	228,461		$	(102,672	)	$	125,789		$	233,427		$	(99,116	)	$	134,311		$	239,951		$	(105,919	)	$	134,032
Period end - total loans and leases		221,984			(105,392	)		116,592			233,040			(100,960	)		132,080			235,998			(102,048	)		133,950

	Second Quarter 2008
	Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	4,742		$	(2,140	)	$	2,602
Noninterest income:
Card income		2,554			557			3,111
All other income		204			(60	)		144

Total noninterest income		2,758			497			3,255

Total revenue, net of interest expense		7,500			(1,643	)		5,857

Provision for credit losses		4,259			(1,643	)		2,616
Noninterest expense		2,375			—			2,375

Income before income taxes		866			—			866
Income tax expense⁽³⁾		284			—			284

Net income	$	582		$	—		$	582


Balance sheet
Average - total loans and leases	$	238,918		$	(107,438	)	$	131,480
Period end - total loans and leases		240,617			(108,520	)		132,097

(1)

Provision for credit losses represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(2)

The securitization impact on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

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

The Corporation reports Global Card Services on a managed basis. Reporting on a managed basis is consistent with the way that management evaluates the results of Global Card Services. Managed basis assumes that securitized loans were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. Loan securitization is an alternative funding process that is used by the Corporation to diversify funding sources. Loan securitization removes loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualified special purpose entity which is excluded from the Corporation’s Consolidated Financial Statements in accordance with accounting principles generally accepted in the United States (GAAP).

The performance of the managed portfolio is important in understanding Global Card Services’ results as it demonstrates the results of the entire portfolio serviced by the business. Securitized loans continue to be serviced by the business and are subject to the same underwriting standards and ongoing monitoring as held loans. In addition, retained excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. Global Card Services’ managed income statement line items differ from a held basis reported as follows:

•

Managed net interest income includes Global Card Services’ net interest income on held loans and interest income on the securitized loans less the internal funds transfer pricing allocation related to securitized loans.

•

Managed noninterest income includes Global Card Services’ noninterest income on a held basis less the reclassification of certain components of card income (e.g., excess servicing income) to record securitized net interest income and provision for credit losses. Noninterest income, both on a held and managed basis, also includes the impact of adjustments to the interest-only strip that are recorded in card income as management continues to manage this impact within Global Card Services.

•

Provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

All Other - Reconciliation

(Dollars in millions)


	Six Months Ended June 30, 2009									Six Months Ended June 30, 2008									Second Quarter 2009
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(3,477	)	$	4,749		$	1,272		$	(3,771	)	$	4,195		$	424		$	(1,588	)	$	2,358		$	770
Noninterest income:
Card income (loss)		256			348			604			1,259			(1,261	)		(2	)		(278	)		592			314
Equity investment income		7,305			—			7,305			977			—			977			5,979			—			5,979
Gains on sales of debt securities		2,143			—			2,143			351			—			351			672			—			672
All other income (loss)		(1,706	)		67			(1,639	)		(349	)		125			(224	)		(4,298	)		32			(4,266	)

Total noninterest income		7,998			415			8,413			2,238			(1,136	)		1,102			2,075			624			2,699

Total revenue, net of interest expense		4,521			5,164			9,685			(1,533	)		3,059			1,526			487			2,982			3,469

Provision for credit losses		(686	)		5,164			4,478			(2,161	)		3,059			898			(9	)		2,982			2,973
Merger and restructuring charges		1,594			—			1,594			382			—			382			829			—			829
All other noninterest expense		932			—			932			253			—			253			642			—			642

Income (loss) before income taxes		2,681			—			2,681			(7	)		—			(7	)		(975	)		—			(975	)
Income tax expense (benefit)⁽³⁾		(979	)		—			(979	)		6			—			6			(1,732	)		—			(1,732	)

Net income (loss)	$	3,660		$	—		$	3,660		$	(13	)	$	—		$	(13	)	$	757		$	—		$	757


Balance sheet
Average - total loans and leases	$	163,770		$	102,357		$	266,127		$	125,695		$	106,306		$	232,001		$	159,142		$	102,046		$	261,188
Period end - total loans and leases		153,008			100,438			253,446			95,826			108,520			204,346			153,008			100,438			253,446

	First Quarter 2009									Fourth Quarter 2008									Third Quarter 2008
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(1,889	)	$	2,391		$	502		$	(1,857	)	$	2,299		$	442		$	(2,326	)	$	2,207		$	(119	)
Noninterest income:
Card income (loss)		534			(244	)		290			368			(482	)		(114	)		539			(507	)		32
Equity investment income (loss)		1,326			—			1,326			(388	)		—			(388	)		(327	)		—			(327	)
Gains (losses) on sales of debt securities		1,471			—			1,471			783			—			783			(3	)		—			(3	)
All other income (loss)		2,592			35			2,627			(283	)		40			(243	)		112			54			166

Total noninterest income		5,923			(209	)		5,714			480			(442	)		38			321			(453	)		(132	)

Total revenue, net of interest expense		4,034			2,182			6,216			(1,377	)		1,857			480			(2,005	)		1,754			(251	)

Provision for credit losses		(677	)		2,182			1,505			(613	)		1,857			1,244			(996	)		1,754			758
Merger and restructuring charges		765			—			765			306			—			306			247			—			247
All other noninterest expense		290			—			290			187			—			187			(24	)		—			(24	)

Income (loss) before income taxes		3,656			—			3,656			(1,257	)		—			(1,257	)		(1,232	)		—			(1,232	)
Income tax expense (benefit)⁽³⁾		753			—			753			(520	)		—			(520	)		(538	)		—			(538	)

Net income (loss)	$	2,903		$	—		$	2,903		$	(737	)	$	—		$	(737	)	$	(694	)	$	—		$	(694	)


Balance sheet
Average - total loans and leases	$	168,450		$	102,672		$	271,122		$	145,238		$	99,116		$	244,354		$	146,303		$	105,919		$	252,222
Period end - total loans and leases		165,534			105,392			270,926			136,160			100,960			237,120			146,363			102,048			248,411

	Second Quarter 2008
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(1,913	)	$	2,140		$	227
Noninterest income:
Card income		596			(557	)		39
Equity investment income		710			—			710
Gains on sales of debt securities		131			—			131
All other income (loss)		(87	)		60			(27	)

Total noninterest income		1,350			(497	)		853

Total revenue, net of interest expense		(563	)		1,643			1,080

Provision for credit losses		(1,033	)		1,643			610
Merger and restructuring charges		212			—			212
All other noninterest expense		74			—			74

Income before income taxes		184			—			184
Income tax expense (benefit)⁽³⁾		(42	)		—			(42	)

Net income	$	226		$	—		$	226


Balance sheet
Average - total loans and leases	$	117,504		$	107,438		$	224,942
Period end - total loans and leases	$	95,826			108,520			204,346

(1)

Provision for credit losses represents provision for credit losses in All Other combined with the Global Card Services securitization offset.

(2)

The securitization offset on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3)

Fully taxable-equivalent basis

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

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		46

Appendix: Selected Slides from the

Second Quarter 2009 Earnings Release Presentation

Information for periods beginning July 1, 2008 includes the Countrywide acquisition. Information for periods beginning January 1, 2009 includes the

Merrill Lynch acquisition. Prior periods have not been restated.


This information is preliminary and based on company data available at the time of the presentation.		47

LOGO

Summary of Large Items Impacting Earnings 1

($ in billions)

2Q09 1Q09 Change

Net interest income (FTE) $ 11.9 $ 12.8 $ (0.9)

Noninterest income 21.1 23.3 (2.1)

Total revenue (FTE) 33.1 36.1 (3.0)

Noninterest expense 17.0 17.0 -

Pre-tax pre-provision for credit loss income (FTE) $ 16.1 $ 19.1 $ (3.0)

Large items:

Pre-tax gain on sale of CCB shares $ 5.3 $ 1.9 $ 3.4

Pre-tax gain on sale of merchant processing

business to a joint venture 3.8 - 3.8

Fair value credit adjustment on Merrill Lynch

structured notes(3.6) 2.2 (5.8)

Counterparty valuation adjustment on derivative

liabilities(1.6) 1.7 (3.3)

FDIC special assessment(0.8) - (0.8)

Capital markets disruption charges(1.3) (1.7) 0.5

Total large items $ 1.8 $ 4.1 $ (2.3)

Pre-tax pre-provision excluding large items (FTE) $ 14.2 $ 15.0 $ (0.7)

Provision expense

Net charge-offs $ 8.7 $ 6.9 $ 1.8

Increase in allowance for credit losses 4.7 6.4 (1.8)

Total provision expense $ 13.4 $ 13.4 $ -

Other items impacting EPS but not pre-tax pre-provision earnings

– Higher share count as a result of capital raising in response to supervisory stress test results

– Income tax benefit primarily resulting from release of deferred tax asset valuation allowance

– Higher net income available to common shareholders as a result of lower preferred dividends o $250 million lower quarterly dividends from preferred exchanges going forward, with $65 million realized during 2Q09 o $576 million net benefit resulting from exchanges

1 Amounts may not subtotal due to rounding

LOGO

Key Capital Markets Risk Exposures – 2Q09

Super Senior CDO related

($ in millions) 2Q09 1Q09

Total Total

Retained Total Super Senior Super Senior

Subprime Positions Subprime Non subprime CDO CDO

Unhedged $ 670 $ 1,241 $ 1,911 $ 1,558 $ 3,469 $ 5,135

Hedged 1,044 - 1,044 768 1,812 2,028

Total $ 1,714 $ 1,241 $ 2,955 $ 2,326 $ 5,281 $ 7,163

• Total super senior CDO exposure reduced $1.9 billion, or 26% from 1Q09

• 2Q09 markdown of $813 million excluding monoline insurance marks

• $1.9 billion unhedged subprime exposure carried at 17%

• $1.0 billion hedged subprime exposure carried at 15%

• $1.6 billion unhedged non-subprime exposure carried at 52%

• $768 million hedged non-subprime exposure carried at 74%

Credit Default Swaps with Monoline Financial Guarantors

($ in millions) Super Senior Other

CDOs Positions

Notional $ 5,573 $ 44,899

Mark to market or guarantor receivable 4,168 11,270

Credit Valuation Adjustment (2,867) (5,729)

Net mark to market of receivable 1,301 5,541

Credit valuation adjustment % 69% 51%

2Q09 (writedown) gain (353) 233

• Other notional positions of $45 billion were reduced $11.0 billion, or 20% from 1Q09

LOGO

Key Capital Markets Risk Exposures – 2Q09

Leveraged Loans

• Funded commitments carried at $3.0 billion or 44% of gross value

– Exposure reduced 32% from 1Q09

– 2Q09 markdown of $107 million

– Pre-market disruption exposure carried at $2.8 billion or 43% of gross value

– 90% of remaining funded commitments at book value are senior secured facilities

Capital Markets Commercial Mortgage related

• Total commitments carried at $6.9 billion with $6.6 billion funded

– Carrying $5.6 billion of acquisition related large floating rate loans at roughly 69% of gross value

– 2Q09 markdown of $458 million predominantly floating rate positions

– 2Q09 markdown of $113 million on equity positions from acquisition related exposures

LOGO

Asset Quality – Held Basis*

($ in millions) 2Q09 Increase from 1Q09 in

Net charge-offs Reserve Build Provision Net charge-offs Reserve Build Provision

Residential mortgage $ 1,085 $ 1,262 $ 2,347 $ 300 $ 128 $ 428

Home Equity 1,839 758 2,597 158 115 273

Credit Card 2,064 944 3,008 452(598)(146)

Consumer lending 1,208(55) 1,153 287(830)(543)

SOP 03-3 impaired 750 750 -(103)(103)

Other consumer 400 62 462(40)(192)(232)

Total Consumer 6,596 3,721 10,317 1,157(1,480)(323)

Small business 774(254) 520 141(929)(788)

Commercial Real Estate 629 641 1,270 174 351 525

Other Commercial 702 538 1,240 287 294 581

Total Commercial 1 2,105 925 3,030 602(284) 318

Unfunded lending commitments - 28 28 - -

Total 8,701 4,674 13,375 1,759(1,764)(5)

• Credit quality deteriorated further during the quarter as the impacts of the recessionary environment worsened. Consumers continued to experience high unemployment and underemployment and declining home prices.

• Although bankruptcies continue to increase, now approaching pre-bankruptcy reform levels, some signs of stabilization are evident in early stage delinquencies

• The commercial portfolio experienced broad-based deterioration from a customer and industry standpoint.

• Held net charge-offs increased $1.8 billion, to 3.64% of average loans, up 79 basis points from 1Q09

• Managed net losses increased $2.6 billion, to 4.42% of average loans, up 102 basis points from 1Q09

• Allowance for loan losses of $33.8 billion covers 3.61% of loans and, including the reserve for unfunded commitments, is $35.8 billion

– Consumer allowance is $25.2 billion, or 4.27% of loans

– Commercial allowance is $8.5 billion, or 2.48% of loans

* Schedule reflects a held basis. Managed losses would add $2,983 in 2Q09, an increase of $801 million from 1Q09 1 Includes $104 million reserve build in 2Q09 for commercial Merrill Lynch loans accounted for under SOP 03-03

LOGO

Consumer Credit Card Asset Quality

Consumer Credit Card

2Q09

($ in mil, loans in bil) 2Q08 3Q08 4Q08 1Q09 2Q09 vs. 1Q09

Loans EOP* $ 187.2 $ 183.4 $ 182.2 $ 173.4 $ 169.8 $ (3.5)

Net loss 2,751 2,996 3,263 3,794 5,047 1,253

30+ past due 10,347 10,801 12,168 13,611 12,969(642)

Net loss % 6.0% 6.4% 7.2% 8.6% 11.7% 311 bps

30+ past due % 5.5% 5.9% 6.7% 7.9% 7.6%(21) bps

* Loans are shown on a managed basis

Consumer Credit Card – Managed Basis 1

• Net losses increased $1.3 billion to $5.0 billion as the loss ratio climbed 311 basis points to 11.73%

– US credit card portfolio refreshed FICO of 691 while originated average FICO was 771 in 2Q09

– California and Florida represent 24% of balances but 34% of managed losses

– Losses impacted by unemployment and remain higher in geographies of housing stress

• 30+ delinquencies decreased $642 million, or 21 basis points to 7.64% of loans

• 90+ delinquencies increased $235 million, or 22 basis point to 4.21% of loans

• Unused commitments were reduced over $30 billion in 2Q09

1 Credit Card includes U.S., Europe and Canada consumer credit card

LOGO

Home Loan Asset Quality 1

Residential Mortgage Home Equity

2Q09 2Q09

($ in mil, loans in bil) 2Q08 3Q08 4Q08 1Q09 2Q09 vs. 1Q09 2Q08 3Q08 4Q08 1Q09 2Q09 vs. 1Q09

Loans EOP $ 235.5 $ 257.1 $ 248.1 $ 261.6 $ 246.0 $ (15.6) $ 121.4 $ 151.8 $ 152.5 $ 157.6 $ 155.1 $ (2.6)

Net charge-off 151 242 466 785 1,085 300 923 964 1,113 1,681 1,839 158

30+ past due 4,956 6,002 7,927 7,926 7,533(393) 1,548 1,939 2,661 2,647 2,001(646)

Net charge-off % 0.2% 0.4% 0.7% 1.2% 1.7% 52 bps 3.1% 2.5% 2.9% 4.3% 4.7% 41 bps

30+ past due % 2.1% 2.3% 3.2% 3.0% 3.1% 3 bps 1.3% 1.3% 1.8% 1.7% 1.3%(39) bps

Residential Mortgage Home Equity

• Net charge-offs increased $300 million to $1.1 billion as the loss • Net charge-offs increased $158 million to $1.8 billion as the loss ratio climbed 52 basis points to 1.72% ratio climbed 41 basis points to 4.71%

– Adjusted for the expected benefit of Resi Wrap protection, the – Loans with >90% RCLTV represent 50% of portfolio loss rate would be 1.38% reflecting home price deterioration

– Loans with >90% RLTV represented 34% of the portfolio – CA and FL represent 41% of the portfolio but 61% of losses reflecting home price deterioration

• Allowance of $8.7 billion was increased and covers 5.59% of

– CA and FL represented 44% of the portfolio but 61% of losses loans

– CRA portfolio still drove a disproportionate share of losses (7% • Nonperforming assets increased $308 million from 1Q09 to $4.0 of loans with 21% of losses) billion and now represents 2.56% of loans

• Allowance of $4.1 billion was increased and covers 1.67% of loans – 35% of NPAs are greater than 180 days past due and are

• Nonperforming assets increased $2.8 billion from 1Q09 to $14.5 carried at appraised value billion and now represents 5.89% of loans and foreclosed properties – Nonperforming TDRs increased $700 million and comprise

– 60% of NPAs are greater than 180 days past due and are carried 36% of home equity NPAs at appraised value – Approximately 75% of the increase was from loans

– Nonperforming TDRs increased $1.3 billion and comprise 14% that were performing at the time of modification of residential mortgage NPAs • 30+ performing past dues declined $646MM compared to 1Q09

– Approximately 35% of the increase was from loans that and the ratio to loans declined 39bps to 1.29% were performing at the time of modification

• 30+ performing past dues decreased $390MM compared to 1Q09 but, with a decline in loan balances, the ratio rose 3 bps to 3.06% of loans

1 Discontinued Real Estate is not included

LOGO

Direct/Indirect

Direct/Indirect Consumer Lending (Included in Direct/Indirect)

2Q09 2Q09

($ in mil, loans in bil) 2Q08 3Q08 4Q08 1Q09 2Q09 vs. 1Q09 2Q08 3Q08 4Q08 1Q09 2Q09 vs. 1Q09

Loans EOP $ 84.9 $ 82.8 $ 83.4 $ 99.7 $ 99.2 $ (0.5) $ 28.4 $ 28.7 $ 28.2 $ 26.6 $ 24.2 $ (2.4)

Net charge-off 660 845 1,054 1,249 1,475 226 486 608 746 921 1,208 287

30+ past due 2,706 3,211 3,980 4,145 4,019 (126) 1,621 1,982 2,449 2,687 2,405 (282)

Net charge-off % 3.2% 3.9% 5.0% 5.0% 5.9% 87 bps 7.1% 8.4% 10.4% 13.5% 18.9% 537 bps

30+ past due % 3.2% 3.9% 4.8% 4.2% 4.1% (11) bps 5.7% 6.9% 8.7% 10.1% 9.9% (17) bps

Direct/Indirect Loans Consumer Lending (part of Direct/Indirect)

• Net charge-offs increased $226 million to $1.5 billion • Consumer Lending portfolio of $24.2 billion had and the loss ratio rose 87 basis points to 5.90% increased losses of $287 million with a 2Q09 loss rate

– Driven by borrower stress within the of 18.90%

Consumer Lending portfolio • Allowance of $4.2 billion covers 17.24% of loans

• Allowance of $5.4 billion covers 5.41% of loans • 30+ delinquencies declined $282 million, or 17 basis

• Dealer Finance portfolio1of $40.9 billion had a decline points to 9.94% of loans of 82 basis point in loss rate to 1.96%, in part • 90+ delinquencies declined $75 million but the ratio seasonal increased 21 basis points to 5.50% with a decline in

– The auto portfolios of $27.8 billion had a 89 the balances basis points decrease in loss rate to 1.58%

• 30+ delinquencies decreased $126 million, or 10 basis points to 4.05% of loans

1 Includes auto originations, auto purchase loan portfolios and marine/recreational vehicle

LOGO

Consumer Asset Quality Key Indicators

($ in millions) Residential Mortgage Home Equity Discontinued Real Estate

2Q09 1Q09 2Q09 1Q09 2Q09 1Q09

Excluding Excluding Excluding Excluding Excluding Excluding

As SOP 03-3 As SOP 03-3 As SOP 03-3 As SOP 03-3 As SOP 03-3 As SOP 03-3

Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1

Loans EOP $ 245,967 $ 235,555 $ 261,583 $ 251,637 $ 155,058 $ 141,284 $ 157,645 $ 143,754 $ 17,490 $ 2,104 $ 19,000 $ 2,222

Loans Avg 253,803 243,097 265,121 255,389 156,599 142,818 158,575 144,594 18,309 1,793 19,386 1,885

Net losses $ 1,085 $ 1,085 785 $ 785 1,839 $ 1,839 1,681 $ 1,681 35 $ 35 15 $ 15

% of avg loans 2 1.72% 1.79% 1.20% 1.25% 4.71% 5.17% 4.30% 4.71% 0.76% 7.81% 0.31% 3.15%

Allowance for loan losses $ 4,119 $ 4,119 $ 2,856 $ 2,856 $ 8,664 $ 6,756 $ 7,457 $ 5,862 $ 398 $ 82 $ 67 $ 59

% of Loans 1.67% 1.75% 1.09% 1.14% 5.59% 4.78% 4.73% 4.08 2.28% 3.92% 0.35% 2.18

Avg. refreshed (C)LTV 3 83 76 95 87 88 82

90%+ refreshed (C)LTV 3 34% 27% 50% 42% 21% 16%

Avg. refreshed FICO 721 725 713 715 644 653

% below 620 FICO 11% 10% 12% 11% 24% 25%

1 Represents the SOP 03-3 portfolio acquired from Countrywide

2 Adjusting for the benefit of Resi Wrap protection, the residential mortgage as reported loss rate would be 1.38% in 2Q09 and 0.95% in 1Q09

3 Loan to value (LTV) calculations apply to the residential mortgage and discontinued real estate portfolio. Combined loan to value (CLTV) calculations apply to the home equity portfolio

LOGO

Consumer Asset Quality Key Indicators (cont’d)

($ in millions) Total Managed

Credit Card Other 1 Consumer

Held Managed

2Q09 1Q09 2Q09 1Q09 2Q09 1Q09 2Q09 1Q09

Loans EOP $ 69,378 $ 67,960 $169,815 $173,352 $102,544 $102,993 $690,874 $714,573

Loans Avg 70,546 75,818 $172,592 $178,490 $103,600 $104,148 $704,903 $725,721

Net losses $ 2,064 $ 1,612 $ 5,047 $ 3,794 $ 1,574 $ 1,347 $ 9,580 $ 7,621

% of avg loans 11.74% 8.62% 11.73% 8.62% 6.09% 5.24% 5.45% 4.26%

Allowance for loan losses $ 6,473 $ 5,463 $ 5,579 $ 5,583 $ 25,233 $ 21,426

% of Loans 9.33% 8.04% 5.44% 5.42% 4.27% 3.52%

• The average refreshed FICO for the U.S. Credit Card portfolio was 691 at 2Q09 compared to 681 at 1Q09; the percentage below 620 FICO was 18% at 2Q09 compared to 19% at 1Q09. 2Q09 included an update to the process for obtaining refreshed FICO scores.

1 Other primarily consists of the following portfolios of loans: Consumer Lending and Dealer Financial Services

LOGO

Consumer Asset Quality Key Indicators – SOP 03-3 Countrywide Portfolio 1

($ in millions)

Residential

Mortgage Home Equity Discontinued Real Estate

2Q09 1Q09 2Q09 1Q09 2Q09 1Q09

Loans EOP $ 10,412 $ 9,946 $ 13,774 $ 13,891 $ 15,386 $ 16,778

Net losses 305 264 964 890 1,006 936

• The net losses shown on this table are not included in the net losses reported by the company as these loans were considered impaired and written down to fair value at acquisition in accordance with SOP 03-3

• 2Q09 includes an increase in the valuation allowance through provision of $621 million compared to $853 million in 1Q09

• The carrying value at June 30, 2009 of the impaired loan portfolio, including the valuation allowance is 73% of the outstanding unpaid principal balance

1 The table presents outstandings net of purchase accounting adjustments and net losses

LOGO

Commercial Asset Quality Key Indicators 1

($ in millions) Commercial Lease

Commercial 2 Commercial Real Estate Small Business Financing Total Commercial

2Q09 1Q09 2Q09 1Q09 2Q09 1Q09 2Q09 1Q09 2Q09 1Q09

Loans EOP $229,290 $244,414 $ 75,081 $ 75,269 $ 18,092 $ 18,772 $ 22,387 $ 22,017 $344,850 $360,472

Loans Avg 239,753 250,411 75,479 72,022 18,604 19,042 22,026 22,056 355,862 363,531

Net charge-offs $ 658 $ 348 $ 629 $ 455 $ 773 $ 633 $ 44 $ 67 $ 2,104 $ 1,503

% of avg loans 1.10% 0.56% 3.34% 2.56% 16.69% 13.47% 0.81% 1.22% 2.37% 1.68%

90+ Performing DPD $ 277 $ 505 $ 308 $ 86 $ 804 $ 797 $ 35 $ 26 $ 1,424 $ 1,414

% of Loans 0.12% 0.21% 0.41% 0.11% 4.44% 4.24% 0.15% 0.12% 0.41% 0.39%

Nonperforming loans $ 4,454 $ 3,322 $ 6,651 $ 5,662 $ 200 $ 224 $ 104 $ 104 $ 11,409 $ 9,312

% of Loans 1.94% 1.36% 8.86% 7.52% 1.11% 1.19% 0.46% 0.47% 3.31% 2.58%

Allowance for loan losses $ 3,087 $ 2,561 $ 2,396 $ 1,756 $ 2,814 $ 3,067 $ 255 $ 238 $ 8,552 $ 7,622

% of Loans 1.35% 1.05% 3.19% 2.33% 15.55% 16.34% 1.14% 1.08% 2.48% 2.11%

Reservable Criticized

Utilized Exposure 3,4 $ 32,512 $ 28,100 $ 21,166 $ 17,553 $ 1,767 $ 1,533 $ 1,735 $ 1,474 $ 57,180 $ 48,660

% of Total Exposure 10.77% 8.90% 26.40% 21.81% 9.74% 8.14% 7.75% 6.70% 13.53% 11.13%

1 Does not include certain commercial loans measured at fair value in accordance with SFAS 159

2 Includes Commercial Domestic and Commercial Foreign

3 Excludes the Merrill Lynch SOP 03-3 portfolio

4 Excludes utilized exposure which is marked to market including Derivatives, Foreclosed Property, Assets Held for Sale and FVO loans

LOGO

Commercial Real Estate

Homebuilders

• Homebuilder utilized balances at 2Q09, included in commercial real estate, decreased $790 million to $10.6 billion compared to 1Q09. These utilized balances are included in total exposure of $13.8 billion

– Reservable criticized utilized exposure decreased $330 million to $7.3 billion (35% of reservable criticized utilized commercial real estate exposure)

– NPAs were flat at $3.7 billion (52% of commercial real estate NPAs)

– 2Q09 charge-offs were $382 million compared to $301 million in 1Q09

• Homebuilder construction and land development utilized balances at 2Q09 decreased $782 million to $8.0 billion compared to 1Q09

– Reservable criticized utilized exposure decreased $279 million to $6.6 billion

• Non-residential utilized balances at 2Q09 increased $622 million to $76.1 billion compared to 1Q09

– Reservable criticized utilized exposure increased $3.9 billion to $13.8 billion (65% of reservable criticized utilized commercial real estate exposure) driven by retail and office

– NPAs rose $1.1 billion to $3.4 billion (48% of commercial real estate NPAs) driven by office, commercial land and retail

– 2Q09 charge-offs were $246 million compared to $154 million in 1Q09

Non-Residential

LOGO

Net Interest Income Analysis

($ in millions)

2Q09 1Q09 Change

Net interest income (FTE)

Reported $ 11,942 $ 12,819 $(877)

Securitizations 2,734 2,749(15)

Managed NII 14,676 15,568(892)

Market-based(1,455)(1,820) 365

Managed Core NII $ 13,221 $ 13,748 $(527)

Reported Core NII 10,487 10,999(512)

Average assets

Reported $ 1,811,981 $ 1,912,483 $ (100,502)

Securitized receivables 86,154 91,567(5,413)

Managed assets 1,898,135 2,004,050(105,915)

Market-based(475,761)(489,024) 13,263

Managed Core $ 1,422,374 $ 1,515,026 $(92,652)

Reported Core 1,336,220 1,423,459(87,239)

Net interest yields

Reported 2.64% 2.70%(7) bps

Securitized receivables 12.73 12.04 69 bps

Managed assets 3.10 3.13(3) bps

Market-based 1.23 1.50(28) bps

Managed Core 3.72 3.65 7 bps

Reported Core 3.14 3.11 3 bps

• Core net interest income declined $527 million on a managed basis as deleveraging the discretionary portfolio without yet fully reinvesting cost roughly $700 million

• Lower loan levels from softer demand and deteriorating credit cost roughly $500 million

• Credit related cost impacts were roughly $1.1 billion in the current period

• An improved yield curve and favorable hedging results benefited net interest income

• Market Based NII fell $365 million due to spread compression and continued declines in the balance sheet

• Core managed assets fell $93 billion

– Consumer loans declined $20 billion led by residential mortgage and card

– Commercial loans declined $11 billion centered in domestic C & I

• Average AFS securities declined by $30 billion from deleveraging primarily in 1Q09

• Market related assets declined 3%

• Managed core NIY increased 7bps to 3.72%

• Increase was due to favorable rate environment and pricing partially offset by declines in discretionary portfolio and loan levels

LOGO

Capital Raising Activity – 2Q09

($ in billions, shares in millions) SCAP Tier 1 Common Benefit Tangible Common

Announcement Completed 2Q09 Tier 1 Equity/Assets

Common

Amount Shares Issued

Common stock issuance $ 13.5 1,250 $ 13.5 $ 13.5

Preferred exchange - Private 10.9 800 - 10.9

Preferred exchange - Public 3.9 200 - 3.9

Lower preferred dividends 1 1.6 1.6 1.6

Total from preferred exchanges 16.3 1,000 1.6 16.4

Total from common and preferred share activity $ 17.0 29.8 2,250 15.1 29.9

Sale of China Construction Bank shares 4.4 4.4 0.9

Bank of America Merchant Services JV 3.2 3.2 3.2

Business dispositions 10.0 7.6 7.6 4.1

Reduction in deferred tax disallowance from

above items 2.2 2.2 -

Other 7.0

Total $ 34.0 $ 39.7 2,250 $ 24.9 $ 34.0

Beneficial impact on ratios from capital raising activity 248 bps 156 bps 157 bps

1 Recognized through 12/31/10

• As a result of the stress test performed by the regulatory supervisors Bank of America was required to increase

Tier 1 Common capital by $34 billion

• Through the capital actions listed above Tier 1 common capital was increased by $40 billion increasing the Tier 1 common ratio by nearly 250 basis points

Amounts may not subtotal due to rounding

LOGO

Components of Capital Structure

($ in billions, shares in millions)

6/30/2009 3/31/2009 Change

Common

Tangible Common $ 100.8 $ 69.6 $ 31.2

Goodwill and intangibles 95.7 96.7 (1.0)

Total common 196.5 166.3 30.2

Preferred

Private

Convertible 4.9 8.5 (3.6)

Nonconvertible 13.1 24.3 (11.2)

Total Private preferred 18.0 32.8 (14.8)

Government investments 40.7 40.5 0.2

Total preferred stock 58.7 73.3 (14.6)

Total shareholder’s equity $ 255.2 $ 239.5 $ 15.6

• 3Q09 preferred cash dividends are expected to be $1.1 billion1

– Private preferred dividends roughly $350 million

– Government preferred dividends of $712.5 million

1 An estimate of third quarter 2009 potential cash dividends on various series of preferred stock, subject to the Board of Directors’ future declaration and assuming no conversion of convertible shares

Amounts may not subtotal due to rounding