Supplemental Information

EX-99.3 4 dex993.htm SUPPLEMENTAL INFORMATION Supplemental Information

Exhibit 99.3

LOGO

Supplemental Information

First Quarter 2010

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

Bank of America Corporation and Subsidiaries


Table of Contents		Page

Consolidated Financial Highlights		2
Supplemental Financial Data		3
Consolidated Statement of Income		4
Consolidated Balance Sheet		5,6
Impact of Adoption of Consolidation Accounting Guidance		7
Capital Management		8
Core Net Interest Income		9
Quarterly Average Balances and Interest Rates		10
Quarterly Average Balances and Interest Rates - Isolating Hedge Income/Expense		11
Debt Securities and Available-for-Sale Marketable Equity Securities		12
Quarterly Results by Business Segment		13
Deposits
Total Segment Results		14
Key Indicators		15
Global Card Services
Total Segment Results		16
Key Indicators		17
Home Loans & Insurance
Total Segment Results		18
Key Indicators		19
Global Commercial Banking
Total Segment Results		20
Key Indicators		21
Global Banking & Markets
Total Segment Results		22
Key Indicators		23
Investment Banking Product Rankings		24
Super Senior Collateralized Debt Obligation Exposure		25
Global Wealth & Investment Management
Total Segment Results		26
Quarter-to-Date Business Results		27
Key Indicators		28
All Other
Total Segment Results		29
Equity Investments		30
Outstanding Loans and Leases		31
Quarterly Average Loans and Leases by Business Segment		32
Commercial Credit Exposure by Industry		33
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating		34
Selected Emerging Markets		35
Nonperforming Loans and Foreclosed Properties		36
Nonperforming Loans and Foreclosed Properties Activity		37
Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios		38
Allocation of the Allowance for Credit Losses by Product Type		39

Exhibit A: Non-GAAP Reconciliations		40,41,42

Appendix: Selected Slides from the First Quarter 2010 Earnings Release Presentation		43


		1

Bank of America Corporation and Subsidiaries

Consolidated Financial Highlights

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


	First Quarter 2010			Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Income statement
Net interest income	$	13,749		$	11,559			$	11,423			$	11,630			$	12,497
Noninterest income		18,220			13,517				14,612				21,144				23,261
Total revenue, net of interest expense		31,969			25,076				26,035				32,774				35,758
Provision for credit losses		9,805			10,110				11,705				13,375				13,380
Noninterest expense, before merger and restructuring charges		17,254			15,852				15,712				16,191				16,237
Merger and restructuring charges		521			533				594				829				765
Income tax expense (benefit)		1,207			(1,225	)			(975	)			(845	)			1,129
Net income (loss)		3,182			(194	)			(1,001	)			3,224				4,247
Preferred stock dividends and accretion ⁽¹⁾		348			5,002				1,240				805				1,433
Net income (loss) applicable to common shareholders		2,834			(5,196	)			(2,241	)			2,419				2,814
Diluted earnings (loss) per common share		0.28			(0.60	)			(0.26	)			0.33				0.44
Average diluted common shares issued and outstanding ⁽²⁾		10,005,254			8,634,565				8,633,834				7,269,518				6,393,407
Dividends paid per common share ⁽²⁾	$	0.01		$	0.01			$	0.01			$	0.01			$	0.01

Performance ratios
Return on average assets		0.51	%		n/m		%		n/m		%		0.53		%		0.68	%
Return on average common shareholders’ equity		5.73			n/m				n/m				5.59				7.10
Return on average tangible common shareholders’ equity⁽³⁾		9.79			n/m				n/m				12.68				16.15
Return on average tangible shareholders’ equity⁽³⁾		9.55			n/m				n/m				8.86				12.42
At period end
Book value per share of common stock ⁽⁴⁾	$	21.12		$	21.48			$	22.99			$	22.71			$	25.98
Tangible book value per share of common stock ⁽³⁾		11.70			11.94				12.00				11.66				10.88
Market price per share of common stock:
Closing price	$	17.85		$	15.06			$	16.92			$	13.20			$	6.82
High closing price for the period		18.04			18.59				17.98				14.17				14.33
Low closing price for the period		14.45			14.58				11.84				7.05				3.14
Market capitalization		179,071			130,273				146,363				114,199				43,654

Number of banking centers - domestic		5,939			6,011				6,008				6,109				6,145
Number of branded ATMs - domestic		18,135			18,262				18,254				18,426				18,532
Full-time equivalent employees		283,914			283,717				281,863				282,408				286,625

(1)

Fourth quarter 2009 includes $4.0 billion of accelerated accretion from redemption of preferred stock issued to the U.S. Treasury.

(2)

Due to a net loss applicable to common shareholders for the fourth quarter of 2009 and third quarter of 2009, no dilutive potential common shares were included in the calculations of diluted earnings per share and average diluted common shares because they were antidilutive.

(3)

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 See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 40. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation.

(4)

Fourth quarter 2009 book value gives effect to the automatic conversion of common equivalent shares to common shares which occurred during the first quarter of 2010.

n/m

= not meaningful

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


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

Bank of America Corporation and Subsidiaries

Supplemental Financial Data

(Dollars in millions)


Fully taxable-equivalent basis data⁽¹⁾

	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
	2010			2009			2009			2009			2009
Net interest income	$	14,070		$	11,896		$	11,753		$	11,942		$	12,819
Total revenue, net of interest expense		32,290			25,413			26,365			33,086			36,080
Net interest yield		2.93	%		2.62	%		2.61	%		2.64	%		2.70	%
Efficiency ratio		55.05			64.47			61.84			51.44			47.12

(1)

Fully taxable-equivalent basis is a non-GAAP measure. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 40).

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


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

Bank of America Corporation and Subsidiaries

Consolidated Statement of Income

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


	First Quarter			Fourth Quarter			Third Quarter			Second Quarter			First Quarter
	2010			2009			2009			2009			2009
Interest income
Interest and fees on loans and leases	$	13,475		$	11,405		$	11,620		$	12,329		$	13,349
Interest on debt securities		3,116			2,859			2,975			3,283			3,830
Federal funds sold and securities borrowed or purchased under agreements to resell		448			327			722			690			1,155
Trading account assets		1,743			1,721			1,843			1,952			2,428
Other interest income		1,097			1,333			1,363			1,338			1,394

Total interest income		19,879			17,645			18,523			19,592			22,156

Interest expense
Deposits		1,122			1,472			1,710			2,082			2,543
Short-term borrowings		818			658			1,237			1,396			2,221
Trading account liabilities		660			591			455			450			579
Long-term debt		3,530			3,365			3,698			4,034			4,316

Total interest expense		6,130			6,086			7,100			7,962			9,659

Net interest income		13,749			11,559			11,423			11,630			12,497

Noninterest income
Card income		1,976			1,782			1,557			2,149			2,865
Service charges		2,566			2,756			3,020			2,729			2,533
Investment and brokerage services		3,025			3,014			2,948			2,994			2,963
Investment banking income		1,240			1,596			1,254			1,646			1,055
Equity investment income		625			2,026			843			5,943			1,202
Trading account profits		5,236			1,475			3,395			2,164			5,201
Mortgage banking income		1,500			1,652			1,298			2,527			3,314
Insurance income		715			703			707			662			688
Gains on sales of debt securities		734			1,039			1,554			632			1,498
Other income (loss)		1,204			(1,884	)		(1,167	)		724			2,313
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses		(1,819	)		(837	)		(847	)		(1,110	)		(714	)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income		1,218			195			50			84			343

Net impairment losses recognized in earnings on available-for-sale debt securities		(601	)		(642	)		(797	)		(1,026	)		(371	)

Total noninterest income		18,220			13,517			14,612			21,144			23,261

Total revenue, net of interest expense		31,969			25,076			26,035			32,774			35,758

Provision for credit losses		9,805			10,110			11,705			13,375			13,380

Noninterest expense
Personnel		9,158			7,357			7,613			7,790			8,768
Occupancy		1,172			1,339			1,220			1,219			1,128
Equipment		613			600			617			616			622
Marketing		487			443			470			499			521
Professional fees		517			770			562			544			405
Amortization of intangibles		446			432			510			516			520
Data processing		648			639			592			621			648
Telecommunications		330			387			361			345			327
Other general operating		3,883			3,885			3,767			4,041			3,298
Merger and restructuring charges		521			533			594			829			765

Total noninterest expense		17,775			16,385			16,306			17,020			17,002

Income (loss) before income taxes		4,389			(1,419	)		(1,976	)		2,379			5,376
Income tax expense (benefit)		1,207			(1,225	)		(975	)		(845	)		1,129

Net income (loss)	$	3,182		$	(194	)	$	(1,001	)	$	3,224		$	4,247

Preferred stock dividends and accretion		348			5,002			1,240			805			1,433

Net income (loss) applicable to common shareholders	$	2,834		$	(5,196	)	$	(2,241	)	$	2,419		$	2,814


Per common share information
Earnings (loss)	$	0.28		$	(0.60	)	$	(0.26	)	$	0.33		$	0.44
Diluted earnings (loss)		0.28			(0.60	)		(0.26	)		0.33			0.44
Dividends paid		0.01			0.01			0.01			0.01			0.01

Average common shares issued and outstanding		9,177,468			8,634,565			8,633,834			7,241,515			6,370,815

Average diluted common shares issued and outstanding		10,005,254			8,634,565			8,633,834			7,269,518			6,393,407

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


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

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet

(Dollars in millions)


	March 31 2010			December 31 2009			March 31 2009
Assets
Cash and cash equivalents	$	144,794		$	121,339		$	173,460
Time deposits placed and other short-term investments		20,256			24,202			23,947
Federal funds sold and securities borrowed or purchased under agreements to resell		191,538			189,933			153,230
Trading account assets		206,018			182,206			182,423
Derivative assets		77,577			80,689			137,311
Debt securities:
Available-for-sale		316,020			301,601			254,194
Held-to-maturity, at cost		340			9,840			8,444
Total debt securities		316,360			311,441			262,638
Loans and leases		976,042			900,128			977,008
Allowance for loan and lease losses		(46,835	)		(37,200	)		(29,048	)
Loans and leases, net of allowance		929,207			862,928			947,960
Premises and equipment, net		15,147			15,500			15,549
Mortgage servicing rights (includes $18,842, $19,465 and $14,096 measured at fair value)		19,146			19,774			14,425
Goodwill		86,305			86,314			86,910
Intangible assets		11,548			12,026			13,703
Loans held-for-sale		35,386			43,874			40,214
Customer and other receivables		83,636			81,996			88,951
Other assets		196,282			191,077			181,242
Total assets	$	2,333,200		$	2,223,299		$	2,321,963

Assets of consolidated VIEs included in total assets above (pledged as collateral)
Trading account assets	$	11,826		$	3,478		$	920
Derivative assets		4,193			1,409			1,417
Debt securities:
Available-for-sale		12,074			6,728			10,950
Held-to-maturity		—			2,899			333
Total debt securities		12,074			9,627			11,283
Loans and leases		128,093			16,880			8,000
Allowance for loan and lease losses		(11,140	)		(130	)		(24	)
Loans and leases, net of allowance		116,953			16,750			7,976
Loans held-for-sale		5,310			2,663			3,010
All other assets		9,591			1,452			2,906
Total assets of consolidated VIEs	$	159,947		$	35,379		$	27,512

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


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

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet (continued)

(Dollars in millions)


	March 31 2010			December 31 2009			March 31 2009
Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	255,470		$	269,615		$	233,902
Interest-bearing		643,943			640,789			639,616
Deposits in foreign offices:
Noninterest-bearing		5,614			5,489			4,133
Interest-bearing		71,075			75,718			75,857
Total deposits		976,102			991,611			953,508
Federal funds purchased and securities loaned or sold under agreements to repurchase		265,101			255,185			246,734
Trading account liabilities		82,532			65,432			52,733
Derivative liabilities		46,927			43,728			76,582
Commercial paper and other short-term borrowings		85,406			69,524			185,816
Accrued expenses and other liabilities (includes $1,521, $1,487 and $2,102 of reserve for unfunded lending commitments)		135,656			127,854			126,290
Long-term debt		511,653			438,521			440,751
Total liabilities		2,103,377			1,991,855			2,082,414
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 3,960,660, 5,246,660 and 9,778,142 shares		17,964			37,208			73,277
Common stock and additional paid-in capital, $0.01 par value; authorized - 11,300,000,000, 10,000,000,000 and 10,000,000,000 shares; issued and outstanding - 10,032,001,150, 8,650,243,926 and 6,400,949,995 shares		149,048			128,734			100,864
Retained earnings		67,811			71,233			76,877
Accumulated other comprehensive income (loss)		(4,929	)		(5,619	)		(11,164	)
Other		(71	)		(112	)		(305	)
Total shareholders’ equity		229,823			231,444			239,549
Total liabilities and shareholders’ equity	$	2,333,200		$	2,223,299		$	2,321,963

Liabilities of consolidated VIEs included in total liabilities above
Commercial paper and other short-term borrowings	$	21,631		$	7,735		$	13,700
Long-term debt		90,329			11,929			2,619
All other liabilities		5,090			3,131			2,744
Total liabilities of consolidated VIEs	$	117,050		$	22,795		$	19,063

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


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

Bank of America Corporation and Subsidiaries

Impact of Adopting New Accounting Guidance on Consolidation of VIEs ⁽¹⁾

(Dollars in millions)


	Ending Balance Sheet December 31, 2009			VIE Consolidation Impact			Opening Balance Sheet January 1, 2010
Assets
Cash and cash equivalents	$	121,339		$	2,807		$	124,146
Trading account assets		182,206			6,937			189,143
Derivative assets		80,689			556			81,245
Debt securities:
Available-for-sale		301,601			(2,320	)		299,281
Held-to-maturity, at cost		9,840			(6,572	)		3,268
Total debt securities		311,441			(8,892	)		302,549
Loans and leases		900,128			102,595			1,002,723
Allowance for loan and lease losses		(37,200	)		(10,788	)		(47,988	)
Loans and leases, net of allowance		862,928			91,807			954,735
Loans held-for-sale		43,874			3,025			46,899
All other assets		620,822			4,199			625,021
Total assets	$	2,223,299		$	100,439		$	2,323,738

Liabilities
Commercial paper and other short-term borrowings	$	69,524		$	22,136		$	91,660
Long-term debt		438,521			84,356			522,877
All other liabilities		1,483,810			217			1,484,027
Total liabilities		1,991,855			106,709			2,098,564
Shareholders’ equity
Retained earnings		71,233			(6,154	)		65,079
Accumulated other comprehensive income (loss)		(5,619	)		(116	)		(5,735	)
All other shareholders’ equity		165,830			—			165,830
Total shareholders’ equity		231,444			(6,270	)		225,174
Total liabilities and shareholders’ equity	$	2,223,299		$	100,439		$	2,323,738

(1)

Amounts represent balances that have been legally isolated from the Corporation including credit card loans represented by the seller’s interest that were previously held on the Corporation’s Consolidated Balance Sheet prior to the adoption of new consolidation accounting guidance.


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

Bank of America Corporation and Subsidiaries

Capital Management

(Dollars in millions)


	First Quarter 2010 ⁽¹⁾			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Risk-based capital:
Tier 1 common	$	115,520		$	120,394		$	112,357		$	110,383		$	76,145
Tier 1 capital		155,428			160,388			193,073			190,874			171,061
Total capital		219,913			226,077			258,568			255,701			237,905
Risk-weighted assets		1,519,723			1,542,517			1,548,962			1,599,569			1,695,192
Tier 1 common equity ratio ⁽²⁾		7.60	%		7.81	%		7.25	%		6.90	%		4.49	%
Tier 1 capital ratio		10.23			10.40			12.46			11.93			10.09
Total capital ratio		14.47			14.66			16.69			15.99			14.03
Tier 1 leverage ratio		6.46			6.91			8.39			8.21			7.07
Tangible equity ratio ⁽³⁾		6.05			6.42			7.55			7.39			6.42
Tangible common equity ratio ⁽³⁾		5.24			5.57			4.82			4.67			3.13

(1)

Preliminary data on risk-based capital.

(2)

Tier 1 common equity ratio equals Tier 1 capital excluding preferred stock (except for Common Equivalent Securities at December 31, 2009), 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 Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on page 40. 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 first quarter of 2010 other than pursuant to certain retirement plans or in connection with equity incentive plans.

The 2008 authorized share repurchase program expired on January 23, 2010.

1.286 billion shares were issued through the Common Equivalent Securities conversion on February 24, 2010. Also, 95.8 millions shares were issued in the first quarter of 2010 under employee stock plans.

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


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

Bank of America Corporation and Subsidiaries

Core Net Interest Income ⁽¹⁾

(Dollars in millions)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽²⁾
As reported	$	14,070			$	11,896			$	11,753			$	11,942			$	12,819
Impact of market-based net interest income ⁽³⁾		(1,188	)			(1,305	)			(1,395	)			(1,524	)			(1,895	)

Core net interest income	$	12,882				10,591				10,358				10,418				10,924
Impact of securitizations ⁽⁴⁾		n/a				2,474				2,567				2,734				2,749

Core net interest income - managed basis		n/a			$	13,065			$	12,925			$	13,152			$	13,673


Average earning assets
As reported	$	1,933,060			$	1,807,898			$	1,790,000			$	1,811,981			$	1,912,483
Impact of market-based earning assets ⁽³⁾		(527,319	)			(490,561	)			(468,838	)			(476,431	)			(489,814	)

Core average earning assets	$	1,405,741				1,317,337				1,321,162				1,335,550				1,422,669
Impact of securitizations ⁽⁵⁾		n/a				75,337				81,703				86,154				91,567

Core average earning assets - managed basis		n/a			$	1,392,674			$	1,402,865			$	1,421,704			$	1,514,236


Net interest yield contribution ^(2, 6)
As reported		2.93		%		2.62		%		2.61		%		2.64		%		2.70		%
Impact of market-based activities ⁽³⁾		0.76				0.59				0.52				0.49				0.39

Core net interest yield on earning assets		3.69		%		3.21				3.13				3.13				3.09
Impact of securitizations		n/a				0.53				0.54				0.58				0.54

Core net interest yield on earning assets - managed basis		n/a				3.74		%		3.67		%		3.71		%		3.63		%

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior periods are presented on a managed basis.

(2)

Fully taxable-equivalent basis

(3)

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

(4)

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

(5)

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

(6)

Calculated on an annualized basis.

n/a

= not applicable

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


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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)


	First Quarter 2010						Fourth Quarter 2009						First Quarter 2009
	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	$	27,600	$	153	2.25	%	$	28,566	$	220	3.06	%	$	26,158	$	191	2.96	%
Federal funds sold and securities borrowed or purchased under agreements to resell		266,070		448	0.68			244,914		327	0.53			244,280		1,155	1.90
Trading account assets		214,542		1,795	3.37			218,787		1,800	3.28			237,350		2,499	4.24
Debt securities ⁽¹⁾		311,136		3,173	4.09			279,231		2,921	4.18			286,249		3,902	5.47
Loans and leases ⁽²⁾:
Residential mortgage ⁽³⁾		243,833		3,100	5.09			236,883		3,108	5.24			265,121		3,680	5.57
Home equity		152,536		1,586	4.20			150,704		1,613	4.26			158,575		1,787	4.55
Discontinued real estate		14,433		153	4.24			15,152		174	4.58			19,386		386	7.97
Credit card - domestic		125,353		3,370	10.90			49,213		1,336	10.77			58,960		1,601	11.01
Credit card - foreign		29,872		906	12.30			21,680		605	11.08			16,858		454	10.94
Direct/Indirect consumer⁽⁴⁾		100,920		1,302	5.23			98,938		1,361	5.46			100,741		1,684	6.78
Other consumer ⁽⁵⁾		3,002		48	6.35			3,177		50	6.33			3,408		64	7.50
Total consumer		669,949		10,465	6.30			575,747		8,247	5.70			623,049		9,656	6.25
Commercial - domestic		202,662		1,970	3.94			207,050		2,090	4.01			240,683		2,485	4.18
Commercial real estate ⁽⁶⁾		68,526		575	3.40			71,352		595	3.31			72,206		550	3.09
Commercial lease financing		21,675		304	5.60			21,769		273	5.04			22,056		279	5.05
Commercial - foreign		28,803		264	3.72			29,995		287	3.78			36,127		462	5.18
Total commercial		321,666		3,113	3.92			330,166		3,245	3.90			371,072		3,776	4.12
Total loans and leases		991,615		13,578	5.53			905,913		11,492	5.05			994,121		13,432	5.46
Other earning assets		122,097		1,052	3.50			130,487		1,222	3.72			124,325		1,299	4.22
Total earning assets ⁽⁷⁾		1,933,060		20,199	4.22			1,807,898		17,982	3.96			1,912,483		22,478	4.74
Cash and cash equivalents		196,911						230,618						153,007
Other assets, less allowance for loan and lease losses		379,789						383,015						453,644
Total assets	$	2,509,760					$	2,421,531					$	2,519,134

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,126	$	43	0.50	%	$	33,749	$	54	0.63	%	$	32,378	$	58	0.72	%
NOW and money market deposit accounts		416,110		341	0.33			392,212		388	0.39			343,215		440	0.52
Consumer CDs and IRAs		166,189		567	1.38			192,779		835	1.72			235,787		1,710	2.93
Negotiable CDs, public funds and other time deposits		19,763		63	1.31			31,758		82	1.04			31,188		149	1.94
Total domestic interest-bearing deposits		637,188		1,014	0.65			650,498		1,359	0.83			642,568		2,357	1.49
Foreign interest-bearing deposits:
Banks located in foreign countries		18,338		32	0.70			16,477		30	0.73			26,052		48	0.75
Governments and official institutions		6,493		3	0.21			6,650		4	0.23			9,849		6	0.25
Time, savings and other		54,104		73	0.55			54,469		79	0.57			58,380		132	0.92
Total foreign interest-bearing deposits		78,935		108	0.55			77,596		113	0.58			94,281		186	0.80
Total interest-bearing deposits		716,123		1,122	0.64			728,094		1,472	0.80			736,849		2,543	1.40
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings		508,332		817	0.65			450,538		658	0.58			591,928		2,221	1.52
Trading account liabilities		90,134		660	2.97			83,118		591	2.82			69,481		579	3.38
Long-term debt		513,634		3,530	2.77			445,440		3,365	3.01			446,975		4,316	3.89
Total interest-bearing liabilities ⁽⁷⁾		1,828,223		6,129	1.35			1,707,190		6,086	1.42			1,845,233		9,659	2.11
Noninterest-bearing sources:
Noninterest-bearing deposits		264,892						267,066						227,232
Other liabilities		186,754						196,676						217,903
Shareholders’ equity		229,891						250,599						228,766
Total liabilities and shareholders’ equity	$	2,509,760					$	2,421,531					$	2,519,134
Net interest spread					2.87	%					2.54	%					2.63	%
Impact of noninterest-bearing sources					0.06						0.08						0.07
Net interest income/yield on earning assets			$	14,070	2.93	%			$	11,896	2.62	%			$	12,819	2.70	%

(1)

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

(2)

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

(3)

Includes foreign residential mortgages of $538 million for the first quarter of 2010, and $550 million and $627 million in the fourth and first quarters of 2009.

(4)

Includes foreign consumer loans of $8.1 billion for the first quarter of 2010, and $8.6 billion and $7.1 billion in the fourth and first quarters of 2009.

(5)

Includes consumer finance loans of $2.2 billion for the first quarter of 2010, and $2.3 billion and $2.6 billion in the fourth and first quarters of 2009, and other foreign consumer loans of $664 million in the first quarter of 2010, and $689 million and $596 million in the fourth and first quarters of 2009.

(6)

Includes domestic commercial real estate loans of $65.6 billion in the first quarter of 2010, and $68.2 billion and $70.9 billion in the fourth and first quarters of 2009, and foreign commercial real estate loans of $3.0 billion in the first quarter of 2010, and $3.1 billion and $1.3 billion in the fourth and first quarters of 2009.

(7)

Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets by $272 million in the first quarter of 2010, and $248 million and $61 million in the fourth and first quarters of 2009. Interest expense includes the impact of interest rate risk management contracts, which decreased interest expense on the underlying liabilities $970 million in the first quarter of 2010, and $1.1 billion and $512 million in the fourth and first quarters of 2009.

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


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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)


	First Quarter 2010							Fourth Quarter 2009							First Quarter 2009
	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	$	27,600	$	153		2.25	%	$	28,566	$	220		3.06	%	$	26,158	$	191		2.96	%
Federal funds sold and securities borrowed or purchased under agreements to resell ⁽²⁾		266,070		368		0.56			244,914		253		0.41			244,280		1,158		1.90
Trading account assets⁽²⁾		214,542		1,833		3.45			218,787		1,844		3.36			237,350		2,499		4.24
Debt securities ⁽²⁾		311,136		3,454		4.45			279,231		3,176		4.54			286,249		3,930		5.51
Loans and leases:
Residential mortgage		243,833		3,100		5.09			236,883		3,108		5.24			265,121		3,680		5.57
Home equity		152,536		1,586		4.20			150,704		1,613		4.26			158,575		1,787		4.55
Discontinued real estate		14,433		153		4.24			15,152		174		4.58			19,386		386		7.97
Credit card - domestic		125,353		3,370		10.90			49,213		1,336		10.77			58,960		1,601		11.01
Credit card - foreign		29,872		906		12.30			21,680		605		11.08			16,858		454		10.94
Direct/Indirect consumer		100,920		1,302		5.23			98,938		1,361		5.46			100,741		1,684		6.78
Other consumer		3,002		48		6.35			3,177		50		6.33			3,408		64		7.50
Total consumer		669,949		10,465		6.30			575,747		8,247		5.70			623,049		9,656		6.25
Commercial - domestic ⁽²⁾		202,662		2,003		4.01			207,050		2,113		4.05			240,683		2,515		4.24
Commercial real estate		68,526		575		3.40			71,352		595		3.31			72,206		550		3.09
Commercial lease financing		21,675		304		5.60			21,769		273		5.04			22,056		279		5.05
Commercial - foreign		28,803		264		3.72			29,995		287		3.78			36,127		462		5.18
Total commercial		321,666		3,146		3.96			330,166		3,268		3.93			371,072		3,806		4.15
Total loans and leases		991,615		13,611		5.54			905,913		11,515		5.06			994,121		13,462		5.47
Other earning assets		122,097		1,052		3.50			130,487		1,222		3.72			124,325		1,299		4.22
Total earning assets - excluding hedge impact		1,933,060		20,471		4.27			1,807,898		18,230		4.01			1,912,483		22,539		4.75
Net hedge income (expense) on assets				(272	)						(248	)						(61	)
Total earning assets - including hedge impact		1,933,060		20,199		4.22			1,807,898		17,982		3.96			1,912,483		22,478		4.74
Cash and cash equivalents		196,911							230,618							153,007
Other assets, less allowance for loan and lease losses		379,789							383,015							453,644
Total assets	$	2,509,760						$	2,421,531						$	2,519,134

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,126	$	43		0.50	%	$	33,749	$	54		0.63	%	$	32,378	$	58		0.72	%
NOW and money market deposit accounts		416,110		341		0.33			392,212		388		0.39			343,215		440		0.52
Consumer CDs and IRAs⁽²⁾		166,189		523		1.28			192,779		791		1.63			235,787		1,647		2.83
Negotiable CDs, public funds and other time deposits ⁽²⁾		19,763		60		1.23			31,758		80		0.99			31,188		146		1.89
Total domestic interest-bearing deposits		637,188		967		0.62			650,498		1,313		0.80			642,568		2,291		1.44
Foreign interest-bearing deposits:
Banks located in foreign countries ⁽²⁾		18,338		15		0.33			16,477		14		0.35			26,052		41		0.64
Governments and official institutions		6,493		3		0.21			6,650		4		0.23			9,849		6		0.25
Time, savings and other		54,104		73		0.55			54,469		79		0.57			58,380		132		0.92
Total foreign interest-bearing deposits		78,935		91		0.47			77,596		97		0.50			94,281		179		0.77
Total interest-bearing deposits		716,123		1,058		0.60			728,094		1,410		0.77			736,849		2,470		1.36
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings ⁽²⁾		508,332		715		0.57			450,538		551		0.49			591,928		1,915		1.31
Trading account liabilities		90,134		660		2.97			83,118		591		2.82			69,481		579		3.38
Long-term debt ⁽²⁾		513,634		4,666		3.66			445,440		4,605		4.12			446,975		5,207		4.69
Total interest-bearing liabilities - excluding hedge impact		1,828,223		7,099		1.57			1,707,190		7,157		1.66			1,845,233		10,171		2.23
Net hedge (income) expense on liabilities				(970	)						(1,071	)						(512	)
Total interest-bearing liabilities - including hedge impact		1,828,223		6,129		1.35			1,707,190		6,086		1.42			1,845,233		9,659		2.11
Noninterest-bearing sources:
Noninterest-bearing deposits		264,892							267,066							227,232
Other liabilities		186,754							196,676							217,903
Shareholders’ equity		229,891							250,599							228,766
Total liabilities and shareholders’ equity	$	2,509,760						$	2,421,531						$	2,519,134
Net interest spread						2.70							2.35							2.52
Impact of noninterest-bearing sources						0.09							0.08							0.08
Net interest income/yield on earning assets - excluding hedge impact				13,372		2.79	%				11,073		2.43	%				12,368		2.60	%
Net impact of hedge income (expense)				698		0.14					823		0.19					451		0.10
Net interest income/yield on earning assets			$	14,070		2.93	%			$	11,896		2.62	%			$	12,819		2.70	%

(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:


	First Quarter 2010			Fourth Quarter 2009			First Quarter 2009
Federal funds sold and securities borrowed or purchased under agreements to resell	$	80		$	74		$	(3	)
Trading account assets		(38	)		(44	)		—
Debt securities		(281	)		(255	)		(28	)
Commercial - domestic		(33	)		(23	)		(30	)

Net hedge expense on assets	$	(272	)	$	(248	)	$	(61	)


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

Consumer CDs and IRAs	$	44		$	44		$	63
Negotiable CDs, public funds and other time deposits		3			2			3
Banks located in foreign countries		17			16			7
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		102			107			306
Long-term debt		(1,136	)		(1,240	)		(891	)

Net hedge income on liabilities	$	(970	)	$	(1,071	)	$	(512	)

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


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

Bank of America Corporation and Subsidiaries

Debt Securities and Available-for-Sale Marketable Equity Securities

(Dollars in millions)


	March 31, 2010
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	40,664	$	291	$	(212	)	$	40,743
Mortgage-backed securities:
Agency		150,356		2,791		(578	)		152,569
Agency collateralized mortgage obligations		43,403		320		(250	)		43,473
Non-agency residential		35,008		655		(2,685	)		32,978
Non-agency commercial		6,971		947		(48	)		7,870
Foreign securities		3,826		41		(744	)		3,123
Corporate bonds		6,780		162		(85	)		6,857
Other taxable securities ⁽¹⁾		19,914		84		(539	)		19,459

Total taxable securities		306,922		5,291		(5,141	)		307,072
Tax-exempt securities		9,041		74		(167	)		8,948

Total available-for-sale debt securities	$	315,963	$	5,365	$	(5,308	)	$	316,020

Held-to-maturity debt securities ⁽²⁾		340		—		—			340

Total debt securities	$	316,303	$	5,365	$	(5,308	)	$	316,360

Available-for-sale marketable equity securities ⁽³⁾	$	2,937	$	3,679	$	(42	)	$	6,574


	December 31, 2009
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	22,648	$	414	$	(37	)	$	23,025
Mortgage-backed securities:
Agency		164,677		2,415		(846	)		166,246
Agency collateralized mortgage obligations		25,330		464		(13	)		25,781
Non-agency residential		37,940		1,191		(4,028	)		35,103
Non-agency commercial		6,354		671		(116	)		6,909
Foreign securities		4,732		61		(896	)		3,897
Corporate bonds		6,136		182		(126	)		6,192
Other taxable securities ⁽¹⁾		25,469		260		(478	)		25,251

Total taxable securities		293,286		5,658		(6,540	)		292,404
Tax-exempt securities		9,340		100		(243	)		9,197

Total available-for-sale debt securities	$	302,626	$	5,758	$	(6,783	)	$	301,601

Held-to-maturity debt securities ⁽²⁾		9,840		—		(156	)		9,684

Total debt securities	$	312,466	$	5,758	$	(6,939	)	$	311,285

Available-for-sale marketable equity securities ⁽³⁾	$	6,020	$	3,895	$	(507	)	$	9,408

(1)

Includes asset-backed securities.

(2)

At December 31, 2009, 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 $6.6 billion and a fair value of $6.4 billion. Effective January 1, 2010, current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. As a result, the current period balance is eliminated in consolidation.

(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.


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

Bank of America Corporation and Subsidiaries

Quarterly Results by Business Segment

(Dollars in millions)


	First Quarter 2010
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Commercial Banking			Global Banking & Markets		GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	14,070		$	2,146	$	4,818		$	1,213		$	2,189		$	2,171	$	1,391	$	142
Noninterest income		18,220			1,486		1,986			2,411			818			7,605		3,018		896

Total revenue, net of interest expense		32,290			3,632		6,804			3,624			3,007			9,776		4,409		1,038

Provision for credit losses		9,805			37		3,535			3,600			916			256		242		1,219
Noninterest expense		17,775			2,505		1,751			3,328			954			4,386		3,374		1,477

Income (loss) before income taxes		4,710			1,090		1,518			(3,304	)		1,137			5,134		793		(1,658	)
Income tax expense (benefit) ⁽²⁾		1,528			407		566			(1,233	)		424			1,916		296		(848	)

Net income (loss)	$	3,182		$	683	$	952		$	(2,071	)	$	713		$	3,218	$	497	$	(810	)


Average
Total loans and leases	$	991,615			n/m	$	189,307		$	133,745		$	211,683		$	101,185	$	99,063	$	256,126
Total assets ⁽³⁾		2,509,760		$	439,022		195,874			234,116			294,505			782,415		256,209		n/m
Total deposits		981,015			414,167		n/m			n/m			143,357			104,126		224,514		70,417
Allocated equity		229,891			24,110		43,176			27,280			42,410			55,211		22,843		14,861

Period end
Total loans and leases	$	976,042			n/m	$	181,763		$	132,428		$	209,113		$	97,729	$	98,562	$	255,828
Total assets ⁽³⁾		2,333,200		$	442,480		191,027			224,570			301,132			685,592		261,243		n/m
Total deposits		976,102			417,539		n/m			n/m			145,448			105,126		230,044		56,464

	Fourth Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Commercial Banking			Global Banking & Markets		GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	11,896		$	1,764	$	4,879		$	1,275		$	2,069		$	2,182	$	1,276	$	(1,549	)
Noninterest income (loss)		13,517			1,645		2,208			2,516			728			3,457		4,233		(1,270	)

Total revenue, net of interest expense		25,413			3,409		7,087			3,791			2,797			5,639		5,509		(2,819	)

Provision for credit losses		10,110			75		6,854			2,249			1,832			558		54		(1,512	)
Noninterest expense		16,385			2,348		1,897			3,163			917			3,612		3,371		1,077

Income (loss) before income taxes		(1,082	)		986		(1,664	)		(1,621	)		48			1,469		2,084		(2,384	)
Income tax expense (benefit) ⁽²⁾		(888	)		389		(658	)		(628	)		76			28		778		(873	)

Net income (loss)	$	(194	)	$	597	$	(1,006	)	$	(993	)	$	(28	)	$	1,441	$	1,306	$	(1,511	)


Average
Total loans and leases	$	905,913			n/m	$	199,756		$	132,326		$	217,121		$	101,758	$	100,264	$	154,007
Total assets ⁽³⁾		2,421,531		$	441,428		215,474			232,827			301,549			748,692		252,606		n/m
Total deposits		995,160			416,534		n/m			n/m			143,072			108,659		223,055		78,630
Allocated equity		250,599			23,870		41,702			26,214			42,110			51,721		19,737		45,245

Period end
Total loans and leases	$	900,128			n/m	$	196,289		$	131,302		$	213,181		$	97,986	$	99,596	$	161,128
Total assets ⁽³⁾		2,223,299		$	444,561		212,695			232,588			295,607			654,057		254,190		n/m
Total deposits		991,611			419,583		n/m			n/m			146,899			102,218		224,839		65,433

	First Quarter 2009
	Total Corporation			Deposits		Global Card Services ⁽¹⁾			Home Loans & Insurance			Global Commercial Banking			Global Banking & Markets		GWIM		All Other ⁽¹⁾
Net interest income ⁽²⁾	$	12,819		$	1,869	$	5,199		$	1,191		$	1,970		$	2,794	$	1,662	$	(1,866	)
Noninterest income		23,261			1,503		2,249			4,044			713			6,187		2,684		5,881

Total revenue, net of interest expense		36,080			3,372		7,448			5,235			2,683			8,981		4,346		4,015

Provision for credit losses		13,380			88		8,221			3,372			1,765			347		254		(667	)
Noninterest expense		17,002			2,323		2,039			2,655			961			4,724		3,322		978

Income (loss) before income taxes		5,698			961		(2,812	)		(792	)		(43	)		3,910		770		3,704
Income tax expense (benefit) ⁽²⁾		1,451			361		(1,060	)		(298	)		(13	)		1,401		291		769

Net income (loss)	$	4,247		$	600	$	(1,752	)	$	(494	)	$	(30	)	$	2,509	$	479	$	2,935


Average
Total loans and leases	$	994,121			n/m	$	224,013		$	125,544		$	235,386		$	123,061	$	110,535	$	174,730
Total assets ⁽³⁾		2,519,134		$	400,976		242,586			219,110			270,072			836,939		278,794		n/m
Total deposits		964,081			376,287		n/m			n/m			118,489			104,029		250,913		91,674
Allocated equity		228,766			23,419		39,990			14,870			39,468			46,147		17,504		47,368

Period end
Total loans and leases	$	977,008			n/m	$	217,532		$	131,332		$	232,512		$	120,769	$	102,766	$	171,408
Total assets ⁽³⁾		2,321,963		$	415,139		234,499			221,442			265,989			710,314		268,607		n/m
Total deposits		953,508			390,247		n/m			n/m			122,666			96,756		242,633		77,139

(1)

Current period results for Global Card Services and All Other are presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. In prior periods, Global Card Services is presented on a managed basis with a corresponding offset 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.


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

Bank of America Corporation and Subsidiaries

Deposits Segment Results ⁽¹⁾

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009				First Quarter 2009
Net interest income ⁽²⁾	$	2,146		$	1,764		$	1,725		$	1,729			$	1,869
Noninterest income:
Service charges		1,479			1,645			1,904			1,747				1,501
All other income (loss)		7			—			2			(1	)			2

Total noninterest income		1,486			1,645			1,906			1,746				1,503

Total revenue, net of interest expense		3,632			3,409			3,631			3,475				3,372

Provision for credit losses		37			75			93			87				88
Noninterest expense		2,505			2,348			2,313			2,614				2,323

Income before income taxes		1,090			986			1,225			774				961
Income tax expense ⁽²⁾		407			389			429			254				361

Net income	$	683		$	597		$	796		$	520			$	600

Net interest yield ⁽²⁾		2.11	%		1.69	%		1.64	%		1.68		%		2.02	%
Return on average equity		11.49			9.91			13.34			8.92				10.39
Efficiency ratio ⁽²⁾		68.97			68.87			63.70			75.23				68.89

Balance sheet

Average
Total earning assets ⁽³⁾	$	412,371		$	414,775		$	416,616		$	413,654			$	374,848
Total assets ⁽³⁾		439,022			441,428			443,224			439,992				400,976
Total deposits		414,167			416,534			418,512			415,502				376,287
Allocated equity		24,110			23,870			23,683			23,376				23,419

Period end
Total earning assets ⁽³⁾	$	416,160		$	417,690		$	415,058		$	419,985			$	389,067
Total assets ⁽³⁾		442,480			444,561			441,539			445,889				415,139
Total deposits		417,539			419,583			416,950			421,650				390,247

(1)

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

(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.


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

Bank of America Corporation and Subsidiaries

Deposits Key Indicators

(Dollars in millions, except as noted)


	First Quarter 2010			Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Average deposit balances
Checking	$	143,767		$	138,997			$	136,605			$	135,357			$	125,681
Savings		33,345			31,995				32,374				32,488				29,564
MMS		116,796			108,848				98,659				91,275				78,154
CDs and IRAs		116,911			133,714				147,844				152,828				139,708
Foreign and other		3,348			2,980				3,030				3,554				3,180

Total average deposit balances	$	414,167		$	416,534			$	418,512			$	415,502			$	376,287


Total balances migrated to (from) GWIM	$	3,009		$	(33	)		$	(2,920	)		$	(34,340	)		$	(6,140	)

Deposit spreads (excludes noninterest costs)
Checking		3.82	%		3.82		%		3.93		%		4.07		%		4.18		%
Savings		3.73			3.67				3.83				3.87				3.89
MMS		0.77			0.59				0.58				0.55				(0.14	)
CDs and IRAs		0.12			0.02				(0.01	)			0.05				0.09
Foreign and other		4.15			3.45				3.46				3.68				3.72
Total deposit spreads		1.90			1.73				1.72				1.78				1.71

Online banking (end of period)
Active accounts (units in thousands)		29,850			29,600				29,209				28,649				28,885
Active billpay accounts (units in thousands)		15,078			14,966				15,107				15,115				15,134

LOGO

Bank of America has the largest active online banking customer base with 29.9 million subscribers.

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

15.1 million active bill pay users paid $75.5 billion worth of bills this quarter.

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


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

Bank of America Corporation and Subsidiaries

Global Card Services Segment Results ⁽¹⁾

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽²⁾	$	4,818		$	4,879			$	4,919			$	4,976			$	5,199
Noninterest income:
Card income		1,881			2,093				2,183				2,163				2,114
All other income		105			115				148				124				135

Total noninterest income		1,986			2,208				2,331				2,287				2,249

Total revenue, net of interest expense		6,804			7,087				7,250				7,263				7,448

Provision for credit losses		3,535			6,854				6,823				7,655				8,221
Noninterest expense		1,751			1,897				1,923				1,929				2,039

Income (loss) before income taxes		1,518			(1,664	)			(1,496	)			(2,321	)			(2,812	)
Income tax expense (benefit) ⁽²⁾		566			(658	)			(536	)			(740	)			(1,060	)

Net income (loss)	$	952		$	(1,006	)		$	(960	)		$	(1,581	)		$	(1,752	)


Net interest yield ⁽²⁾		10.32	%		9.71		%		9.37		%		9.26		%		9.41		%
Return on average equity		8.94			n/m				n/m				n/m				n/m
Efficiency ratio ⁽²⁾		25.74			26.75				26.54				26.56				27.38

Balance sheet

Average
Total loans and leases	$	189,307		$	199,756			$	208,650			$	215,808			$	224,013
Total earning assets		189,353			199,383				208,287				215,575				224,013
Total assets		195,874			215,474				224,192				231,954				242,586
Allocated equity		43,176			41,702				40,657				41,780				39,990

Period end
Total loans and leases	$	181,763		$	196,289			$	202,860			$	211,325			$	217,532
Total earning assets		182,267			196,046				202,653				211,054				217,342
Total assets		191,027			212,695				219,670				227,934				234,499

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior periods are presented on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - Global Card Services - Reconciliation on page 41).

(2)

Fully taxable-equivalent basis

n/m = not meaningful

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


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

Bank of America Corporation and Subsidiaries

Global Card Services Key Indicators ⁽¹⁾

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Credit Card Data ⁽²⁾

Loans
Average
Held credit card outstandings	$	155,225		$	70,893		$	70,940		$	70,546		$	75,818
Securitization impact		n/a			91,705			97,520			102,046			102,672

Managed credit card outstandings		n/a		$	162,598		$	168,460		$	172,592		$	178,490


Period end
Held credit card outstandings	$	149,555		$	71,109		$	70,206		$	69,377		$	67,960
Securitization impact		n/a			89,715			94,328			100,438			105,392

Managed credit card outstandings		n/a		$	160,824		$	164,534		$	169,815		$	173,352


Credit Quality
Charge-offs $
Held net charge-offs	$	4,594		$	1,941		$	2,169		$	2,064		$	1,612
Securitization impact		n/a			2,926			3,308			2,983			2,182

Managed credit card net losses		n/a		$	4,867		$	5,477		$	5,047		$	3,794


Charge-offs %
Held net charge-offs		12.00	%		10.86	%		12.13	%		11.74	%		8.62	%
Securitization impact		n/a			1.02			0.77			(0.01	)		—

Managed credit card net losses		n/a			11.88	%		12.90	%		11.73	%		8.62	%


30+ Delinquency $
Held delinquency	$	10,125		$	4,961		$	5,054		$	5,221		$	5,365
Securitization impact		n/a			6,599			7,047			7,748			8,246

Managed delinquency		n/a		$	11,560		$	12,101		$	12,969		$	13,611


30+ Delinquency %
Held delinquency		6.77	%		6.98	%		7.20	%		7.53	%		7.90	%
Securitization impact		n/a			0.21			0.15			0.11			(0.05	)

Managed delinquency		n/a			7.19	%		7.35	%		7.64	%		7.85	%


90+ Delinquency $
Held delinquency	$	5,572		$	2,657		$	2,593		$	2,894		$	2,816
Securitization impact		n/a			3,550			3,600			4,263			4,106

Managed delinquency		n/a		$	6,207		$	6,193		$	7,157		$	6,922


90+ Delinquency %
Held delinquency		3.73	%		3.74	%		3.69	%		4.17	%		4.14	%
Securitization impact		n/a			0.12			0.07			0.04			(0.15	)

Managed delinquency		n/a			3.86	%		3.76	%		4.21	%		3.99	%


Other Global Card Services Key Indicators


Credit card data
Gross interest yield		11.18	%		11.34	%		11.18	%		11.33	%		11.68	%
Risk adjusted margin		1.83			1.47			0.26			1.28			4.56
New account growth (in thousands)		745			994			1,014			957			1,230
Purchase volumes	$	48,677		$	54,875		$	53,031		$	51,944		$	48,056

Debit Card Data
Debit purchase volumes	$	56,067		$	57,186		$	54,764		$	55,158		$	51,133

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior periods are presented on a managed basis.

(2)

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

n/a = not applicable

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


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

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Segment Results

(Dollars in millions; except as noted)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽¹⁾	$	1,213			$	1,275			$	1,309			$	1,200			$	1,191
Noninterest income:
Mortgage banking income		1,641				1,816				1,424				2,661				3,420
Insurance income		590				618				594				553				581
All other income		180				82				86				50				43

Total noninterest income		2,411				2,516				2,104				3,264				4,044

Total revenue, net of interest expense		3,624				3,791				3,413				4,464				5,235

Provision for credit losses		3,600				2,249				2,896				2,727				3,372
Noninterest expense		3,328				3,163				3,047				2,832				2,655

Loss before income taxes		(3,304	)			(1,621	)			(2,530	)			(1,095	)			(792	)
Income tax benefit ⁽¹⁾		(1,233	)			(628	)			(896	)			(370	)			(298	)

Net loss	$	(2,071	)		$	(993	)		$	(1,634	)		$	(725	)		$	(494	)

Net interest yield ⁽¹⁾		2.58		%		2.64		%		2.59		%		2.43		%		2.64		%
Efficiency ratio ⁽¹⁾		91.81				83.44				89.27				63.46				50.72

Balance sheet

Average
Total loans and leases	$	133,745			$	132,326			$	132,599			$	131,509			$	125,544
Total earning assets		190,805				191,544				200,426				197,651				182,811
Total assets		234,116				232,827				236,086				232,253				219,110
Allocated equity		27,280				26,214				24,737				16,128				14,870

Period end
Total loans and leases	$	132,428			$	131,302			$	134,255			$	131,120			$	131,332
Total earning assets		183,898				188,349				197,550				197,419				184,031
Total assets		224,570				232,588				234,725				234,277				221,442

Period end (in billions)
Mortgage servicing portfolio ⁽²⁾	$	2,143.7			$	2,150.8			$	2,148.3			$	2,111.9			$	2,112.8

(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.


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

Bank of America Corporation and Subsidiaries

Home Loans & Insurance Key Indicators

(Dollars in millions, except as noted)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Mortgage servicing rights at fair value rollforward:
Beginning balance	$	19,465			$	17,539			$	18,535			$	14,096			$	12,733
Merrill Lynch balance, January 1, 2009		—				—				—				—				209
Additions / sales		1,131				1,035				1,738				1,706				1,249
Impact of customer payments		(603	)			(821	)			(906	)			(797	)			(1,185	)
Other changes in MSRs		(1,151	)			1,712				(1,828	)			3,530				1,090

Ending balance	$	18,842			$	19,465			$	17,539			$	18,535			$	14,096

Capitalized mortgage servicing rights
(% of loans serviced)		110		bps		113		bps		102		bps		109		bps		83		bps
Mortgage loans serviced for investors (in billions)	$	1,717			$	1,716			$	1,726			$	1,703			$	1,699

Loan production:
Home Loans & Insurance
First mortgage	$	67,313			$	83,898			$	90,319			$	104,082			$	79,072
Home equity		1,771				2,420				2,225				2,920				2,923
Total Corporation ⁽¹⁾
First mortgage		69,502				86,588				95,654				110,645				85,218
Home equity		2,027				2,787				2,739				3,650				4,038

Mortgage banking income
Production income	$	761			$	1,063			$	1,121			$	1,678			$	1,674
Servicing income:
Servicing fees and ancillary income		1,567				1,601				1,597				1,510				1,495
Impact of customer payments		(600	)			(821	)			(906	)			(797	)			(1,185	)
Fair value changes of MSRs, net of economic hedge results		(259	)			(213	)			(519	)			143				1,301
Other servicing-related revenue		172				186				131				127				135

Total net servicing income		880				753				303				983				1,746

Total Home Loans & Insurance mortgage banking income		1,641				1,816				1,424				2,661				3,420
Other business segments’ mortgage banking income (loss) ⁽²⁾		(141	)			(164	)			(126	)			(134	)			(106	)

Total consolidated mortgage banking income	$	1,500			$	1,652			$	1,298			$	2,527			$	3,314

(1)

In addition to loan production in Home Loans & Insurance, the remaining first mortgage and home equity loan production is primarily in GWIM.

(2)

Includes the offset of revenue for transfers of mortgage loans from Home Loans & Insurance to the ALM portfolio included in All Other.

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


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

Bank of America Corporation and Subsidiaries

Global Commercial Banking Segment Results

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽¹⁾	$	2,189		$	2,069			$	2,002			$	1,966			$	1,970
Noninterest income:
Service charges		542			522				532				512				509
All other income		276			206				221				341				204

Total noninterest income		818			728				753				853				713

Total revenue, net of interest expense		3,007			2,797				2,755				2,819				2,683

Provision for credit losses		916			1,832				2,058				2,078				1,765
Noninterest expense		954			917				939				953				961

Income (loss) before income taxes		1,137			48				(242	)			(212	)			(43	)
Income tax expense (benefit) ⁽¹⁾		424			76				(84	)			(146	)			(13	)

Net income (loss)	$	713		$	(28	)		$	(158	)		$	(66	)		$	(30	)


Net interest yield ⁽¹⁾		3.36	%		3.03		%		3.04		%		3.21		%		3.36		%
Return on average equity		6.82			n/m				n/m				n/m				n/m
Efficiency ratio ⁽¹⁾		31.71			32.79				34.08				33.82				35.77

Balance sheet

Average
Total loans and leases	$	211,683		$	217,121			$	223,890			$	232,702			$	235,386
Total earning assets ⁽²⁾		263,988			271,041				261,648				245,341				237,729
Total assets ⁽²⁾		294,505			301,549				292,650				278,025				270,072
Total deposits		143,357			143,072				131,528				125,791				118,489
Allocated equity		42,410			42,110				41,992				43,255				39,468

Period end
Total loans and leases	$	209,113		$	213,181			$	219,379			$	228,492			$	232,512
Total earning assets ⁽²⁾		270,778			264,512				253,343				243,543				234,585
Total assets ⁽²⁾		301,132			295,607				284,655				247,984				265,989
Total deposits		145,448			146,899				133,211				128,342				122,666

(1)

Fully taxable-equivalent basis

(2)

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

n/m = not meaningful

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


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

Bank of America Corporation and Subsidiaries

Global Commercial Banking Key Indicators

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Revenue, net of interest expense by service segment
Business lending	$	1,865		$	1,734		$	1,721		$	1,791		$	1,611
Treasury services		1,142			1,063			1,034			1,028			1,072

Total revenue, net of interest expense ⁽¹⁾	$	3,007		$	2,797		$	2,755		$	2,819		$	2,683

Average loans and leases by product
Commercial - domestic	$	105,924		$	109,223		$	113,220		$	120,455		$	124,602
Commercial real estate		57,917			60,352			62,773			64,430			62,273
Direct/Indirect consumer		46,703			46,311			46,674			46,506			47,136
Other		1,139			1,235			1,223			1,311			1,375

Total average loans and leases	$	211,683		$	217,121		$	223,890		$	232,702		$	235,386

Loan spread		2.30	%		2.18	%		2.12	%		2.03	%		1.88	%

Credit quality
Reservable utilized criticized exposure ⁽²⁾	$	39,280		$	40,928		$	41,812		$	39,042		$	33,547
		18.58	%		18.79	%		18.64	%		16.72	%		14.12	%
Nonperforming loans, leases and foreclosed properties ⁽³⁾	$	10,738		$	11,030		$	10,360		$	9,654		$	8,148
		5.12	%		5.16	%		4.71	%		4.22	%		3.50	%

Average deposit balances
Interest-bearing	$	54,182		$	53,862		$	49,531		$	49,577		$	51,309
Noninterest-bearing		89,175			89,210			81,997			76,214			67,180

Total	$	143,357		$	143,072		$	131,528		$	125,791		$	118,489

(1)

Fully taxable-equivalent basis

(2)

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 and commercial letters of credit.

(3)

Nonperforming loans, leases and foreclosed properties are presented on an end-of-period basis. The nonperforming ratio is calculated as nonperforming loans, leases and foreclosed properties divided by loans, leases and foreclosed properties.

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


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

Bank of America Corporation and Subsidiaries

Global Banking & Markets Segment Results

(Dollars in millions)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽¹⁾	$	2,171			$	2,182			$	2,265			$	2,378			$	2,794
Noninterest income:
Investment and brokerage services		636				608				605				876				631
Investment banking income		1,217				1,969				1,233				1,605				1,120
Trading account profits		5,072				1,377				3,411				2,047				4,969
All other income (loss)		680				(497	)			180				3,527				(533	)

Total noninterest income		7,605				3,457				5,429				8,055				6,187

Total revenue, net of interest expense		9,776				5,639				7,694				10,433				8,981

Provision for credit losses		256				558				537				591				347
Noninterest expense		4,386				3,612				3,689				3,967				4,724

Income before income taxes		5,134				1,469				3,468				5,875				3,910
Income tax expense ⁽¹⁾		1,916				28				1,235				1,990				1,401

Net income	$	3,218			$	1,441			$	2,233			$	3,885			$	2,509


Return on average equity		23.64		%		11.06		%		17.34		%		31.24		%		22.05		%
Efficiency ratio ⁽¹⁾		44.86				64.06				47.96				38.02				52.60

Sales and trading revenue
Fixed income, currency and commodities	$	5,515			$	1,270			$	4,004			$	2,682			$	4,768
Equity income		1,530				950				1,265				1,198				1,489

Total sales and trading revenue ⁽²⁾	$	7,045			$	2,220			$	5,269			$	3,880			$	6,257


Balance sheet

Average
Total trading-related assets⁽³⁾	$	509,492			$	494,001			$	496,327			$	504,863			$	538,443
Total loans and leases		101,185				101,758				108,173				118,165				123,061
Total market-based earning assets		527,319				490,561				468,838				476,431				489,814
Total earning assets⁽⁴⁾		623,863				587,520				572,778				588,763				612,046
Total assets⁽⁴⁾		782,415				748,692				756,530				782,559				836,939
Total deposits		104,126				108,659				104,262				102,676				104,029
Allocated equity		55,211				51,721				51,066				49,892				46,147

Period end
Total trading-related assets⁽³⁾	$	435,587			$	411,562			$	448,821			$	436,003			$	441,871
Total loans and leases		97,729				97,986				103,903				109,961				120,769
Total market-based earning assets		434,805				404,315				418,756				401,164				380,943
Total earning assets ⁽⁴⁾		528,693				502,141				518,329				507,821				495,978
Total assets⁽⁴⁾		685,592				654,057				705,588				697,374				710,314
Total deposits		105,126				102,218				98,719				104,145				96,756

Trading-related assets (average)
Trading account securities	$	204,001			$	200,917			$	198,732			$	191,014			$	218,158
Reverse repurchases		162,031				145,192				130,697				139,618				136,421
Securities borrowed		81,965				81,475				78,605				72,309				67,942
Derivative assets		61,495				66,417				88,293				101,922				115,922

Total trading-related assets ⁽³⁾	$	509,492			$	494,001			$	496,327			$	504,863			$	538,443


(1) Fully taxable-equivalent basis
(2) Sales and trading revenue represents total Global Banking & Markets revenue, net of interest expense as adjusted by the following items:
Total Global Banking & Markets revenue, net of interest expense	$	*9,776*			$	5,639			$	7,694			$	10,433			$	8,981
Total Global Banking revenue, net of interest expense		*(2,317*	)			(2,193	)			(1,904	)			(5,950	)			(2,072	)
Investment banking income		*(596*	)			(908	)			(635	)			(820	)			(485	)
Fair value option net interest income		*(47*	)			(55	)			(66	)			(73	)			(68	)
Revenue (loss) shared		*229*				(263	)			180				269				(130	)
Loss on sale of prime brokerage business		—				—				—				21				31

Total sales and trading revenue	$	*7,045*			$	2,220			$	5,269			$	3,880			$	6,257

(3)

Includes assets which are not considered earning assets (i.e. derivative assets).

(4)

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.


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 & Markets Key Indicators

(Dollars in millions)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Components of investment banking income
Advisory ⁽¹⁾	$	167			$	360			$	186			$	292			$	329
Debt issuance		773				805				720				944				655
Equity issuance		344				893				406				508				157

Total Global Markets & Investment Banking		1,284				2,058				1,312				1,744				1,141
Other ⁽²⁾		(44	)			(462	)			(58	)			(98	)			(86	)

Total investment banking income	$	1,240			$	1,596			$	1,254			$	1,646			$	1,055


Global Corporate & Investment Banking Key Indicators

Revenue, net of interest expense - by service segment
Business lending	$	969			$	754			$	605			$	634			$	872
Treasury services		676				736				767				4,515				752
Investment banking related ⁽³⁾		668				705				550				799				427

Total revenue, net of interest expense	$	2,313			$	2,195			$	1,922			$	5,948			$	2,051

Average deposit balances
Interest-bearing	$	50,616			$	49,158			$	44,153			$	44,335			$	51,751
Noninterest-bearing		44,511				49,610				51,527				48,387				43,506

Total average deposits	$	95,127			$	98,768			$	95,680			$	92,722			$	95,257


Loan spread		1.96		%		1.62		%		1.60		%		1.46		%		1.65		%

Provision for credit losses	$	221			$	305			$	440			$	592			$	296

Credit quality ^(4,5)
Reservable utilized criticized exposure	$	9,971			$	11,286			$	12,138			$	11,861			$	9,995
		9.79		%		10.79		%		11.19		%		10.44		%		8.45		%
Nonperforming loans, leases and foreclosed properties	$	997			$	1,293			$	1,388			$	1,314			$	879
		1.22		%		1.51		%		1.55		%		1.40		%		0.88		%
Average loans and leases by product
Commercial - domestic	$	38,336			$	41,787			$	44,780			$	48,523			$	54,444
Commercial real estate		36				46				55				73				104
Commercial lease financing		23,696				23,873				24,139				24,207				24,315
Commercial - foreign		21,901				22,375				23,764				25,853				25,616
Direct/Indirect consumer		2				2				3				3				4
Other		43				45				55				60				61

Total average loans and leases	$	84,014			$	88,128			$	92,796			$	98,719			$	104,544


(1) Advisory includes fees on debt and equity advisory and mergers and acquisitions.
(2) Represents the offset to fees paid on the Corporation’s transactions

(3)

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

(4)

(5)

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


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

Bank of America Corporation and Subsidiaries

Investment Banking Product Rankings


	Three Months Ended March 31, 2010
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	1	12.8	%	2	14.7	%
Leveraged loans	1	15.7		1	22.2
Mortgage-backed securities	1	23.1		1	26.2
Asset-backed securities	1	19.2		1	22.5
Convertible debt	5	5.7		3	12.3
Common stock underwriting	3	6.6		5	8.5
Investment grade corporate debt	4	5.8		2	12.5
Syndicated loans	2	7.5		2	18.9
Net investment banking revenue	2	7.2		2	11.2
Announced mergers and acquisitions	11	8.6		11	12.6
Equity capital markets	3	6.5		4	9.4
Debt capital markets	4	7.1		1	13.1

Source: Dealogic data. Figures above include self-led transactions.

•

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

•

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

•

Mergers and acquisitions volume rankings are for announced transactions and provide credit 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		Common stock underwriting
Leveraged loans		Syndicated loans
Mortgage-backed securities		Net investment banking revenue
Asset-backed securities		Equity capital markets



*U.S. top 3 rankings in:*



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

Excluding self-led deals, global and U.S. leveraged loans, mortgage-backed securities and asset-backed securities rankings were #1. Global high-yield corporate debt ranked #1 and syndicated loans ranked #2 in the U.S. and globally. Investment grade corporate debt ranked #2 in the U.S. Convertible debt ranked #3 and common stock underwriting ranked #5 in the U.S. Net investment banking revenue ranked #2 in the U.S. and globally, and debt capital markets ranked #1 and equity capital markets ranked #4 in the U.S.


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

Bank of America Corporation and Subsidiaries

Super Senior Collateralized Debt Obligation Exposure

(Dollars in millions)


	March 31, 2010
	Subprime ⁽¹⁾		Retained Positions		Total Subprime		Non- Subprime ⁽²⁾		Total
Unhedged	$	827	$	390	$	1,217	$	314	$	1,531
Hedged⁽³⁾		711		—		711		617		1,328

Total	$	1,538	$	390	$	1,928	$	931	$	2,859

(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)


	March 31, 2010
	Super Senior CDOs				Other Guaranteed Positions				Total
Notional	$	3,720			$	37,470			$	41,190

Mark-to-market or guarantor receivable	$	2,911			$	7,445			$	10,356
Credit valuation adjustment		(1,982	)			(3,845	)			(5,827	)

Total	$	929			$	3,600			$	4,529

Credit valuation adjustment %		68		%		52		%		56		%

(Writedowns) gains during the three months ended March 31, 2010	$	(109	)		$	39			$	(70	)

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


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Segment Results⁽¹⁾

(Dollars in millions, except as noted)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Net interest income ⁽²⁾	$	1,391			$	1,276			$	1,332			$	1,294			$	1,662
Noninterest income:
Investment and brokerage services		2,391				2,404				2,329				2,230				2,310
All other income		627				1,829				436				647				374

Total noninterest income		3,018				4,233				2,765				2,877				2,684

Total revenue, net of interest expense		4,409				5,509				4,097				4,171				4,346

Provision for credit losses		242				54				515				238				254
Noninterest expense		3,374				3,371				3,206				3,338				3,322

Income before income taxes		793				2,084				376				595				770
Income tax expense ⁽²⁾		296				778				127				191				291

Net income	$	497			$	1,306			$	249			$	404			$	479


Net interest yield ⁽²⁾		2.52		%		2.29		%		2.54		%		2.54		%		2.76		%
Return on average equity		8.83				26.25				5.07				8.61				11.10
Efficiency ratio ⁽²⁾		76.52				61.18				78.28				80.00				76.45

Balance sheet
Average
Total loans and leases	$	99,063			$	100,264			$	101,181			$	101,748			$	110,535
Total earning assets ⁽³⁾		223,649				221,400				208,098				204,631				244,693
Total assets ⁽³⁾		256,209				252,606				239,340				237,551				278,794
Total deposits		224,514				223,055				214,992				215,382				250,913
Allocated equity		22,843				19,737				19,490				18,813				17,504

Period end
Total loans and leases	$	98,562			$	99,596			$	99,307			$	100,878			$	102,766
Total earning assets ⁽³⁾		228,113				219,865				218,008				203,253				238,322
Total assets ⁽³⁾		261,243				254,190				249,181				233,804				268,607
Total deposits		230,044				224,839				220,481				207,580				242,633

Client assets
Assets under management	$	750,721			$	749,852			$	739,831			$	705,216			$	697,371
Client brokerage assets ⁽⁴⁾		1,282,295				1,270,461				1,235,483				1,164,171				1,102,633
Assets in custody		281,072				274,472				269,233				252,830				234,361
Client deposits		230,041				224,840				220,482				207,581				242,634
Less: Client brokerage assets and assets in custody included in assets under management		(360,945	)			(346,682	)			(331,953	)			(307,619	)			(289,523	)

Total net client assets	$	2,183,184			$	2,172,943			$	2,133,076			$	2,022,179			$	1,987,476

(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.


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Business Results

(Dollars in millions)


	Three Months Ended March 31, 2010
	Total			Merrill Lynch Global Wealth Management ⁽¹⁾				U.S. Trust			Columbia Management				Other
Net interest income ⁽²⁾	$	1,391		$	1,105			$	361		$	—			$	(75	)
Noninterest income:
Investment and brokerage services		2,391			1,586				315			273				217
All other income		627			427				12			4				184

Total noninterest income		3,018			2,013				327			277				401

Total revenue, net of interest expense		4,409			3,118				688			277				326

Provision for credit losses		242			58				184			—				—
Noninterest expense		3,374			2,488				447			218				221

Income before income taxes		793			572				57			59				105
Income tax expense⁽²⁾		296			212				21			22				41

Net income	$	497		$	360			$	36		$	37			$	64


Net interest yield ⁽²⁾		2.52	%		2.44		%		2.89	%		n/m				n/m
Return on average equity		8.83			16.02				2.67			13.04		%		n/m
Efficiency ratio ⁽²⁾		76.52			79.80				65.07			n/m				n/m
Average - total loans and leases	$	99,063		$	48,315			$	50,748			n/m				n/m
Average - total deposits		224,514			180,803				41,264			n/m				n/m
Period end - total assets ⁽³⁾		261,243			207,683				53,468		$	2,064				n/m

	Three Months Ended December 31, 2009
	Total			Merrill Lynch Global Wealth Management ⁽¹⁾				U.S. Trust			Columbia Management				Other
Net interest income ⁽²⁾	$	1,276		$	1,027			$	335		$	—			$	(86	)
Noninterest income:
Investment and brokerage services		2,404			1,614				296			283				211
All other income		1,829			440				11			1				1,377

Total noninterest income		4,233			2,054				307			284				1,588

Total revenue, net of interest expense		5,509			3,081				642			284				1,502

Provision for credit losses		54			(19	)			73			—				—
Noninterest expense		3,371			2,446				449			234				242

Income before income taxes		2,084			654				120			50				1,260
Income tax expense⁽²⁾		778			242				44			18				474

Net income	$	1,306		$	412			$	76		$	32			$	786


Net interest yield ⁽²⁾		2.29	%		2.25		%		2.55	%		n/m				n/m
Return on average equity		26.25			19.53				5.60			14.91		%		n/m
Efficiency ratio ⁽²⁾		61.18			79.40				69.89			n/m				n/m
Average - total loans and leases	$	100,264		$	48,248			$	52,015			n/m				n/m
Average - total deposits		223,055			178,178				42,433			n/m				n/m
Period end - total assets ⁽³⁾		254,190			195,041				55,349		$	2,717				n/m

	Three Months Ended March 31, 2009
	Total			Merrill Lynch Global Wealth Management ⁽¹⁾				U.S. Trust			Columbia Management				Other
Net interest income ⁽²⁾	$	1,662		$	1,382			$	357		$	12			$	(89	)
Noninterest income:
Investment and brokerage services		2,310			1,538				317			260				195
All other income (loss)		374			400				16			(122	)			80

Total noninterest income		2,684			1,938				333			138				275

Total revenue, net of interest expense		4,346			3,320				690			150				186

Provision for credit losses		254			223				31			—				—
Noninterest expense		3,322			2,389				491			217				225

Income (loss) before income taxes		770			708				168			(67	)			(39	)
Income tax expense (benefit) ⁽²⁾		291			262				62			(25	)			(8	)

Net income (loss)	$	479		$	446			$	106		$	(42	)		$	(31	)


Net interest yield ⁽²⁾		2.76	%		2.70		%		2.73	%		n/m				n/m
Return on average equity		11.10			25.18				8.80			n/m				n/m
Efficiency ratio ⁽²⁾		76.45			71.95				71.11			n/m				n/m
Average - total loans and leases	$	110,535		$	57,710			$	52,822			n/m				n/m
Average - total deposits		250,913			209,031				39,509			n/m				n/m
Period end - total assets ⁽³⁾		268,607			215,943				56,419		$	2,642				n/m

(1)

MLGWM includes the net impact of migrating customers and their related deposit and loan balances to or from Deposits and Home Loans & Insurance. As of the date of migration, the associated net interest income, noninterest income and noninterest expense are recorded in the segment to which the customers migrated. During the three months ended March 31, 2010, total deposits of $3.0 billion were migrated from Deposits to MLGWM. During the three months ended December 31, 2009 and March 31, 2009, total deposits of $33 million and $6.1 billion were migrated to Deposits from MLGWM. In addition, during the three months ended March 31, 2010, December 31, 2009 and March 31, 2009, total loans of $598 million, $838 million and $10.2 billion were migrated to Home Loans & Insurance from MLGWM.

(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.


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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management - Key Indicators

(Dollars in millions, except as noted)


	First Quarter 2010				Fourth Quarter 2009				Third Quarter 2009				Second Quarter 2009				First Quarter 2009
Investment and Brokerage Services
Merrill Lynch Global Wealth Management
Asset management fees	$	820			$	801			$	762			$	717			$	788
Brokerage income		766				813				780				719				750

Total	$	1,586			$	1,614			$	1,542			$	1,436			$	1,538

U.S. Trust
Asset management fees	$	309			$	290			$	303			$	325			$	307
Brokerage income		6				6				7				6				10

Total	$	315			$	296			$	310			$	331			$	317

Columbia Management
Asset management fees	$	272			$	282			$	276			$	270			$	260
Brokerage income		1				1				—				—				—

Total	$	273			$	283			$	276			$	270			$	260

Other
Asset management fees	$	121			$	120			$	114			$	113			$	116
Brokerage income		96				91				87				80				79

Total	$	217			$	211			$	201			$	193			$	195

Total Global Wealth & Investment Management
Asset management fees	$	1,522			$	1,493			$	1,455			$	1,425			$	1,471
Brokerage income		869				911				874				805				839

Total investment and brokerage services	$	2,391			$	2,404			$	2,329			$	2,230			$	2,310


Assets Under Management
Assets under management by business:
Merrill Lynch Global Wealth Management	$	296,244			$	281,933			$	268,107			$	239,888			$	219,658
U.S. Trust		189,236				187,984				187,964				180,902				179,142
Columbia Management		303,740				320,191				329,103				331,810				340,692
Retirement & Philanthropic Services		46,487				47,183				44,437				39,298				45,304
Eliminations ⁽¹⁾		(85,126	)			(87,574	)			(89,915	)			(86,811	)			(87,550	)
International Wealth Management		140				135				135				129				125

Total assets under management	$	750,721			$	749,852			$	739,831			$	705,216			$	697,371


Assets under management rollforward:
Beginning balance	$	749,852			$	739,831			$	705,216			$	697,371			$	523,159
Merrill Lynch balance, January 1, 2009		—				—				—				—				246,292
Net flows		(14,431	)			(4,606	)			(17,757	)			(27,071	)			(43,235	)
Market valuation/other		15,300				14,627				52,372				34,916				(28,845	)

Ending balance	$	750,721			$	749,852			$	739,831			$	705,216			$	697,371


Assets under management mix:
Money market/other	$	158,577			$	179,112			$	193,593			$	215,637			$	244,577
Fixed income		232,109				226,970				221,963				204,974				198,177
Equity		360,035				343,770				324,275				284,605				254,617

Total assets under management	$	750,721			$	749,852			$	739,831			$	705,216			$	697,371


Assets under management - domestic and foreign:
Domestic	$	728,979			$	728,899			$	717,289			$	685,492			$	679,927
Foreign		21,742				20,953				22,542				19,724				17,444

Total assets under management	$	750,721			$	749,852			$	739,831			$	705,216			$	697,371


Client Brokerage Assets	$	1,282,295			$	1,270,461			$	1,235,483			$	1,164,171			$	1,102,633

GWIM Metrics

Total Financial Advisors & Wealth Advisors		16,465				16,406				16,344				16,290				16,983

Client Facing Professionals		19,435				19,355				19,310				19,299				20,877

Merrill Lynch Global Wealth Management Metrics

Number of Financial Advisors		15,005				15,006				14,979				15,008				15,822

Financial Advisor Productivity ⁽²⁾ (in thousands)	$	807			$	830			$	824			$	809			$	803

Total client balances ⁽³⁾	$	1,449,373			$	1,434,255			$	1,397,302			$	1,318,124			$	1,290,815

U.S. Trust Metrics

Client Facing Professionals		2,197				2,199				2,191				2,210				2,226

Total client balances ⁽³⁾	$	308,968			$	310,965			$	309,294			$	296,457			$	295,067

Columbia Management Performance Metrics

# of 4 or 5 Star Funds by Morningstar		35				36				43				54				49

% of Assets Under Management in 4 or 5 Star Rated Funds ⁽⁴⁾		48		%		47		%		53		%		54		%		49		%

(1)

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

(2)

Financial Advisor Productivity is defined as annualized total revenue (excluding residual net interest income) divided by the total number of financial advisors.

(3)

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

(4)

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.


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

Bank of America Corporation and Subsidiaries

All Other Results ^{(1, 2)}

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Net interest income ⁽²⁾	$	142		$	(1,549	)	$	(1,799	)	$	(1,601	)	$	(1,866	)
Noninterest income:
Card income (loss)		—			(431	)		(721	)		(277	)		534
Equity investment income		368			829			886			5,980			1,326
Gains on sales of debt securities		647			856			1,442			672			1,471
All other income (loss)		(119	)		(2,524	)		(2,283	)		(4,313	)		2,550

Total noninterest income (loss)		896			(1,270	)		(676	)		2,062			5,881

Total revenue, net of interest expense		1,038			(2,819	)		(2,475	)		461			4,015

Provision for credit losses ⁽³⁾		1,219			(1,512	)		(1,217	)		(1	)		(667	)
Merger and restructuring charges		521			533			594			829			765
All other noninterest expense		956			544			595			558			213

Income (loss) before income taxes		(1,658	)		(2,384	)		(2,447	)		(925	)		3,704
Income tax expense (benefit) ⁽²⁾		(848	)		(873	)		(920	)		(1,712	)		769

Net income (loss)	$	(810	)	$	(1,511	)	$	(1,527	)	$	787		$	2,935


Balance sheet

Average
Total loans and leases	$	256,126		$	154,007		$	155,084		$	165,557		$	174,730
Total deposits		70,417			78,630			95,052			89,514			91,674

Period end
Total loans and leases	$	255,828		$	161,128		$	153,845		$	159,949		$	171,408
Total deposits		56,464			65,433			81,437			84,212			77,139

(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, the results of First Republic Bank, fair value adjustments related to certain Merrill Lynch structured notes 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, foreign exchange rate fluctuations related to 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, the All Other current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior periods are presented on a managed basis and include the offsetting securitization impact to present Global Card Services on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - All Other - Reconciliation on page 42).

(2)

Fully taxable-equivalent basis

(3)

Current period shown on a GAAP basis in accordance with the new accounting guidance. Prior periods represent the provision for credit losses for 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.


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

Bank of America Corporation and Subsidiaries

Equity Investments

(Dollars in millions)


	Global Principal Investments Exposures											Equity Investment Income
	March 31, 2010								December 31, 2009			Equity Investment Income
	Book Value			Unfunded Commitments		Total			Total			First Quarter 2010
Global Principal Investments:
Global Private Equity	$	5,744		$	264	$	6,008		$	6,031		$	400
Global Real Estate		2,120			277		2,397			2,748			(6	)
Global Strategic Capital		4,283			1,846		6,129			6,420			176
Legacy/Other Investments		1,316			55		1,371			1,419			7

Total Global Principal Investments	$	13,463		$	2,442	$	15,905		$	16,618		$	577




Components of Equity Investment Income (Loss) (Dollars in millions)

	First Quarter 2010			Fourth Quarter 2009		Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Global Principal Investments	$	577		$	671	$	713		$	304		$	(466	)
Corporate Investments		(311	)		65		109			10			(272	)
Strategic and other investments ⁽¹⁾		102			93		64			5,666			2,064

Total equity investment income included in All Other		368			829		886			5,980			1,326
Total equity investment income (loss) included in the business segments ⁽²⁾		257			1,197		(43	)		(37	)		(124	)

Total consolidated equity investment income	$	625		$	2,026	$	843		$	5,943		$	1,202

(1)

For the three months ended June 30, 2009 and March 31, 2009, includes a $5.3 billion and $1.9 billion pre-tax gain due to sales of portions of the Corporation’s China Construction Bank investment.

(2)

For the three months ended December 31, 2009, includes a pre-tax gain of $1.1 billion related to the Corporation’s BlackRock equity investment interest.

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


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

Bank of America Corporation and Subsidiaries

Outstanding Loans and Leases

(Dollars in millions)


	March 31 2010		January 1 2010 ⁽¹⁾		December 31 2009		Increase (Decrease) From December 31, 2009 to March 31, 2010
Consumer
Residential mortgage ⁽²⁾	$	245,007	$	242,129	$	242,129	$	2,878
Home equity		149,907		154,202		149,126		781
Discontinued real estate ⁽³⁾		14,211		14,854		14,854		(643	)
Credit card - domestic		120,783		129,642		49,453		71,330
Credit card - foreign		28,772		31,182		21,656		7,116
Direct/Indirect consumer⁽⁴⁾		99,372		99,812		97,236		2,136
Other consumer ⁽⁵⁾		3,022		3,110		3,110		(88	)

Total consumer		661,074		674,931		577,564		83,510


Commercial
Commercial - domestic ⁽⁶⁾		195,862		204,201		198,903		(3,041	)
Commercial real estate ⁽⁷⁾		66,649		69,377		69,447		(2,798	)
Commercial lease financing		21,465		22,199		22,199		(734	)
Commercial - foreign		26,905		27,079		27,079		(174	)

Total commercial loans		310,881		322,856		317,628		(6,747	)
Commercial loans measured at fair value ⁽⁸⁾		4,087		4,936		4,936		(849	)

Total commercial		314,968		327,792		322,564		(7,596	)

Total loans and leases	$	976,042	$	1,002,723	$	900,128	$	75,914

(1)

Balance reflects impact of new accounting guidance on consolidation of VIEs and transfers of financial assets.

(2)

Includes foreign residential mortgages of $511 million and $552 million at March 31, 2010 and December 31, 2009.

(3)

Includes $12.8 billion and $13.4 billion of pay option loans, and $1.4 billion and $1.5 billion of subprime loans at March 31, 2010 and December 31, 2009. The Corporation no longer originates these products.

(4)

Includes dealer financial services loans of $45.3 billion and $41.6 billion, consumer lending of $17.7 billion and $19.7 billion, securities-based lending margin loans of $13.5 billion and $12.9 billion, and foreign consumer loans of $7.9 billion and $8.0 billion at March 31, 2010 and December 31, 2009.

(5)

Includes consumer finance loans of $2.2 billion and $2.3 billion, and other foreign consumer loans of $680 million and $709 million at March 31, 2010 and December 31, 2009.

(6)

Includes small business commercial - domestic loans, including card related products, of $16.6 billion and $17.5 billion at March 31, 2010 and December 31, 2009.

(7)

Includes domestic commercial real estate loans of $63.9 billion and $66.5 billion, and foreign commercial real estate loans of $2.7 billion and $3.0 billion at March 31, 2010 and December 31, 2009.

(8)

Certain commercial loans are accounted for under the fair value option and include commercial - domestic loans of $2.5 billion and $3.0 billion, commercial - foreign loans of $1.5 billion and $1.9 billion, and commercial real estate loans of $101 million and $90 million at March 31, 2010 and December 31, 2009.

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


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

Bank of America Corporation and Subsidiaries

Quarterly Average Loans and Leases by Business Segment

(Dollars in millions)


	First Quarter 2010
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Commercial Banking		Global Banking & Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	243,833	$	—	$	—	$	—	$	323	$	545	$	35,443	$	207,522
Home equity		152,536		—		—		132,227		980		—		16,817		2,512
Discontinued real estate		14,433		—		—		—		—		—		—		14,433
Credit card - domestic		125,353		—		125,348		—		—		—		—		5
Credit card - foreign		29,872		—		29,872		—		—		—		—		—
Direct/Indirect consumer		100,920		81		19,846		87		45,400		67		23,595		11,844
Other consumer		3,002		41		663		—		—		9		23		2,266

Total consumer		669,949		122		175,729		132,314		46,703		621		75,878		238,582

Commercial
Commercial - domestic		202,662		378		12,086		1,423		105,924		50,239		20,925		11,687
Commercial real estate		68,526		6		178		8		57,917		1,079		2,085		7,253
Commercial lease financing		21,675		—		—		—		—		23,696		31		(2,052	)
Commercial - foreign		28,803		—		1,314		—		1,139		25,550		144		656

Total commercial		321,666		384		13,578		1,431		164,980		100,564		23,185		17,544

Total loans and leases	$	991,615	$	506	$	189,307	$	133,745	$	211,683	$	101,185	$	99,063	$	256,126


	Fourth Quarter 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Commercial Banking		Global Banking & Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	236,883	$	—	$	—	$	—	$	351	$	557	$	35,822	$	200,153
Home equity		150,704		—		—		130,227		958		—		17,405		2,114
Discontinued real estate		15,152		—		—		—		—		—		—		15,152
Credit card - domestic		49,213		—		131,140		—		—		—		—		(81,927	)
Credit card - foreign		21,680		—		31,458		—		—		—		—		(9,778	)
Direct/Indirect consumer		98,938		86		22,188		85		45,002		35		23,346		8,196
Other consumer		3,177		209		693		—		—		9		13		2,253

Total consumer		575,747		295		185,479		130,312		46,311		601		76,586		136,163

Commercial
Commercial - domestic		207,050		379		12,665		2,005		109,223		49,401		21,367		12,010
Commercial real estate		71,352		7		165		9		60,352		1,233		2,184		7,402
Commercial lease financing		21,769		—		—		—		—		23,873		1		(2,105	)
Commercial - foreign		29,995		—		1,447		—		1,235		26,650		126		537

Total commercial		330,166		386		14,277		2,014		170,810		101,157		23,678		17,844

Total loans and leases	$	905,913	$	681	$	199,756	$	132,326	$	217,121	$	101,758	$	100,264	$	154,007


	First Quarter 2009
	Total Corporation		Deposits		Global Card Services ⁽¹⁾		Home Loans & Insurance		Global Commercial Banking		Global Banking & Markets		GWIM		All Other ⁽¹⁾
Consumer
Residential mortgage	$	265,121	$	—	$	—	$	—	$	455	$	546	$	38,780	$	225,340
Home equity		158,575		—		—		123,921		1,059		—		26,582		7,013
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		161		29,279		96		45,619		130		20,359		5,097
Other consumer		3,408		354		578		—		3		22		55		2,396

Total consumer		623,049		515		208,347		124,017		47,136		698		85,776		156,560

Commercial
Commercial - domestic		240,683		298		14,319		1,515		124,602		64,565		22,547		12,837
Commercial real estate		72,206		39		125		12		62,273		1,350		2,144		6,263
Commercial lease financing		22,056		—		—		—		—		24,315		—		(2,259	)
Commercial - foreign		36,127		—		1,222		—		1,375		32,133		68		1,329

Total commercial		371,072		337		15,666		1,527		188,250		122,363		24,759		18,170

Total loans and leases	$	994,121	$	852	$	224,013	$	125,544	$	235,386	$	123,061	$	110,535	$	174,730

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. In prior periods, Global Card Services is presented on a managed basis with a corresponding offset in All Other.

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


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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)


	Commercial Utilized							Total Commercial Committed
	March 31 2010		December 31 2009		Increase (Decrease)			March 31 2010			December 31 2009			Increase (Decrease)
Diversified financials	$	63,166	$	68,876	$	(5,710	)	$	96,787		$	110,948		$	(14,161	)
Real estate⁽⁴⁾		72,937		75,049		(2,112	)		87,608			91,479			(3,871	)
Government and public education		43,751		44,151		(400	)		61,575			61,446			129
Healthcare equipment and services		29,249		29,584		(335	)		45,340			46,370			(1,030	)
Capital goods		22,473		23,834		(1,361	)		45,314			47,413			(2,099	)
Consumer services		28,563		28,517		46			43,812			44,164			(352	)
Retailing		23,666		23,671		(5	)		41,998			42,260			(262	)
Commercial services and supplies		22,807		23,892		(1,085	)		32,995			34,646			(1,651	)
Materials		16,311		16,373		(62	)		32,569			32,898			(329	)
Individuals and trusts		23,493		25,191		(1,698	)		30,680			33,678			(2,998	)
Banks		24,794		20,299		4,495			27,868			23,384			4,484
Insurance		19,923		20,613		(690	)		27,202			28,033			(831	)
Food, beverage and tobacco		13,875		14,812		(937	)		26,906			27,985			(1,079	)
Utilities		8,149		9,217		(1,068	)		25,592			25,229			363
Energy		10,222		9,605		617			24,818			23,619			1,199
Media		10,714		11,236		(522	)		22,179			22,832			(653	)
Transportation		12,671		13,724		(1,053	)		18,045			19,597			(1,552	)
Religious and social organizations		8,936		8,920		16			11,302			11,371			(69	)
Pharmaceuticals and biotechnology		2,796		2,875		(79	)		10,162			10,343			(181	)
Technology hardware and equipment		3,695		3,135		560			9,569			9,671			(102	)
Telecommunication services		3,496		3,558		(62	)		9,564			9,478			86
Consumer durables and apparel		4,287		4,374		(87	)		9,243			9,829			(586	)
Software and services		3,111		3,216		(105	)		8,878			9,306			(428	)
Food and staples retailing		3,438		3,680		(242	)		6,501			6,562			(61	)
Automobiles and components		2,209		2,379		(170	)		5,187			5,339			(152	)
Other		4,497		3,596		901			9,457			7,390			2,067
Total commercial credit exposure by industry	$	483,229	$	494,377	$	(11,148	)	$	771,151		$	795,270		$	(24,119	)

Net credit default protection purchased on total commitments ⁽⁵⁾								$	(20,600	)	$	(19,025	)

(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 $58.1 billion and $58.4 billion at March 31, 2010 and December 31, 2009. Not reflected in utilized and committed exposure is additional derivative non-cash collateral held of $16.0 billion and $16.2 billion which consists primarily of other marketable securities at March 31, 2010 and December 31, 2009.

(2)

Total commercial utilized and total commercial committed exposure includes loans and letters of credit accounted for under the fair value option and are comprised of loans outstanding of $4.1 billion and $4.9 billion and issued letters of credit at notional value of $1.6 billion and $1.7 billion at March 31, 2010 and December 31, 2009. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $25.7 billion and $25.3 billion at March 31, 2010 and December 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.


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

Bank of America Corporation and Subsidiaries

Net Credit Default Protection by Maturity Profile⁽¹⁾


	March 31 2010		December 31 2009
Less than or equal to one year	17	%	16	%
Greater than one year and less than or equal to five years	81		81
Greater than five years	2		3
Total net credit default protection	100	%	100	%

(1)

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

Net Credit Default Protection by Credit Exposure Debt Rating ^{(1, 2)}

(Dollars in millions)


	March 31, 2010						December 31, 2009
Ratings ⁽³⁾	Net Notional			Percent			Net Notional			Percent
AAA	$	15		(0.1	)	%	$	15		(0.1	)	%
AA		(285	)	1.4				(344	)	1.8
A		(6,414	)	31.1				(6,092	)	32.0
BBB		(9,025	)	43.8				(9,573	)	50.4
BB		(2,335	)	11.3				(2,725	)	14.3
B		(774	)	3.9				(835	)	4.4
CCC and below		(1,489	)	7.2				(1,691	)	8.9
NR⁽⁴⁾		(293	)	1.4				2,220		(11.7	)
Total net credit default protection	$	(20,600	)	100.0		%	$	(19,025	)	100.0		%

(1)

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

(2)

Ratings are refreshed on a quarterly basis.

(3)

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

(4)

In addition to names which have not been rated, “NR” includes $(211) million and $2.3 billion in net credit default swap index positions at March 31, 2010 and December 31, 2009. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

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


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

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 March 31, 2010		Increase (Decrease) from December 31, 2009
Region/Country
Asia Pacific
China ⁽⁷⁾	$	638	$	575	$	511	$	10,095	$	11,819	$	263	$	12,082	$	19
India		2,387		1,484		1,162		2,830		7,863		—		7,863		1,703
South Korea		502		936		1,047		3,308		5,793		—		5,793		782
Hong Kong		383		263		132		323		1,101		—		1,101		(1	)
Singapore		369		48		45		561		1,023		—		1,023		155
Taiwan		330		28		75		163		596		279		875		146
Other Asia Pacific ⁽⁸⁾		254		73		177		480		984		21		1,005		(26	)
Total Asia Pacific		4,863		3,407		3,149		17,760		29,179		563		29,742		2,778
Latin America
Brazil ⁽⁹⁾		522		573		107		6,227		7,429		1,702		9,131		(323	)
Mexico ⁽¹⁰⁾		1,628		304		320		2,954		5,206		83		5,289		(182	)
Chile		684		222		283		237		1,426		2		1,428		267
Argentina		26		1		1		318		346		174		520		74
Other Latin America ⁽⁸⁾		282		322		31		250		885		47		932		(102	)
Total Latin America		3,142		1,422		742		9,986		15,292		2,008		17,300		(266	)
Middle East and Africa
South Africa		264		2		50		890		1,206		—		1,206		58
Bahrain		105		7		12		905		1,029		—		1,029		(104	)
United Arab Emirates		770		11		111		71		963		—		963		243
Other Middle East and Africa ⁽⁸⁾		294		141		133		179		747		1		748		(20	)
Total Middle East and Africa		1,433		161		306		2,045		3,945		1		3,946		177
Central and Eastern Europe
Turkey		149		179		28		187		543		48		591		203
Other Central and Eastern Europe ⁽⁸⁾		165		224		464		802		1,655		65		1,720		(167	)
Total Central and Eastern Europe		314		403		492		989		2,198		113		2,311		36
Total emerging market exposure	$	9,752	$	5,393	$	4,689	$	30,780	$	50,614	$	2,685	$	53,299	$	2,725

(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. There was no emerging market exposure included in the portfolio accounted for under the fair value option at March 31, 2010 and December 31, 2009.

(2)

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

(3)

Derivative assets are carried at fair value and have been reduced by the amount of cash collateral applied of $704 million and $557 million at March 31, 2010 and December 31, 2009. At March 31, 2010 and December 31, 2009, there were $428 million and $616 million of other marketable securities collateralizing derivative assets.

(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 March 31, 2010 was $18.9 billion compared to $17.6 billion at December 31, 2009. Local liabilities at March 31, 2010 in Asia Pacific, Latin America, and Middle East and Africa were $17.3 billion, $1.4 billion and $201 million, respectively, of which $8.1 billion were in Singapore, $2.2 billion in South Korea, $2.1 billion in both Hong Kong and India, $1.5 billion in China, and $1.3 billion were in Mexico. 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 $5.4 billion in Itau Unibanco Holding S.A.

(10)

Securities/Other Investments include an investment of $2.7 billion in Grupo Financiero Santander, S.A.

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


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

Bank of America Corporation and Subsidiaries

Nonperforming Loans, Leases and Foreclosed Properties

(Dollars in millions)


	March 31 2010			December 31 2009			September 30 2009			June 30 2009			March 31 2009
Residential mortgage	$	17,763		$	16,596		$	15,509		$	13,615		$	10,846
Home equity ⁽¹⁾		3,335			3,804			3,741			3,826			3,497
Discontinued real estate		279			249			207			181			129
Direct/Indirect consumer		91			86			92			57			29
Other consumer		89			104			105			93			91

Total consumer		21,557			20,839			19,654			17,772			14,592


Commercial - domestic ⁽²⁾		4,407			4,925			4,719			4,204			3,022
Commercial real estate		7,177			7,286			6,943			6,651			5,662
Commercial lease financing		147			115			170			104			104
Commercial - foreign		150			177			261			250			300

		11,881			12,503			12,093			11,209			9,088
Small business commercial - domestic		179			200			167			200			224

Total commercial		12,060			12,703			12,260			11,409			9,312

Total nonperforming loans and leases		33,617			33,542			31,914			29,181			23,904
Foreclosed properties		2,308			2,205			1,911			1,801			1,728

Total nonperforming loans, leases and foreclosed properties ^{(3, 4, 5, 6, 7)}	$	35,925		$	35,747		$	33,825		$	30,982		$	25,632


Loans past due 90 days or more and still accruing ^{(3, 5, 8, 9)}	$	21,423		$	16,845		$	7,595		$	6,403		$	6,344
Nonperforming loans, leases and foreclosed properties/Total assets^{(3, 5, 10)}		1.54	%		1.61	%		1.51	%		1.38	%		1.11	%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties^{(3, 5, 10)}		3.69			3.98			3.72			3.31			2.64
Nonperforming loans and leases/Total loans and leases^{(3, 5, 10)}		3.46			3.75			3.51			3.12			2.47

Allowance for credit losses:
Allowance for loan and lease losses ^(1, 11)	$	46,835		$	37,200		$	35,832		$	33,785		$	29,048
Reserve for unfunded lending commitments		1,521			1,487			1,567			1,992			2,102

Total allowance for credit losses	$	48,356		$	38,687		$	37,399		$	35,777		$	31,150


Allowance for loan and lease losses/Total loans and leases ⁽¹⁰⁾		4.82	%		4.16	%		3.95	%		3.61	%		3.00	%
Allowance for loan and lease losses/Total nonperforming loans and leases⁽¹²⁾		139			111			112			116			122

Commercial utilized reservable criticized exposure ⁽¹³⁾	$	55,322		$	58,687		$	60,059		$	57,180		$	48,660
Commercial utilized reservable criticized exposure/Commercial utilized exposure ⁽¹³⁾		14.37	%		14.94	%		14.78	%		13.53	%		11.13	%

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets, and includes $448 million in home equity loans and $10.8 billion in allowance for loan and lease losses. Prior periods have not been restated.

(2)

Excludes small business commercial - domestic loans.

(3)

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

(4)

Balances do not include nonperforming loans held-for-sale of $5.0 billion, $7.3 billion, $6.2 billion, $5.9 billion and $5.0 billion at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(5)

Balances do not include loans accounted for under the fair value option. At March 31, 2010, December 31, 2009, September 30, 2009 and June 30, 2009, there were $70 million, $138 million, $305 million and $111 million, respectively, of nonperforming loans accounted for under the fair value option. At March 31, 2009, there were no nonperforming loans accounted for under the fair value option. At March 31, 2010, December 31, 2009 and September 30, 2009, there were $247 million, $87 million and $111 million of loans past due 90 days or more and still accruing interest and accounted for under the fair value option. At June 30, 2009 and March 31, 2009, there were no loans past due 90 days or more and still accruing interest and accounted for under the fair value option.

(6)

Balances do not include past due consumer credit card, consumer non-real estate-secured loans, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and business card loans.

(7)

Balances do not include non-accruing troubled debt restructured loans in the consumer real estate portfolio that have been removed from the purchased credit-impaired portfolio of $301 million, $395 million, $321 million, $362 million and $182 million at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(8)

Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $223 million, $6 million, $6 million, $0 and $18 million at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(9)

Includes balances related to loans insured by the Federal Housing Administration of $13.6 billion, $11.7 billion, $2.3 billion, $447 million and $411 million at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(10)

Ratios do not include loans accounted for under the fair value option of $4.1 billion, $4.9 billion, $6.2 billion, $7.0 billion and $7.4 billion at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(11)

Balances include the allowance for loan and lease losses on purchased credit-impaired loans of $5.0 billion, $3.9 billion, $3.6 billion, $2.3 billion and $1.6 billion at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

(12)

Excluding the valuation allowance for purchased credit-impaired loans, allowance for loan and lease losses as a percentage of total nonperforming loans and leases would have been 124 percent, 99 percent, 101 percent, 108 percent and 115 percent at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009, and March 31, 2009, respectively.

(13)

Criticized exposure and ratios exclude loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure. Including loans held-for-sale, other nonreservable exposure and commercial loans accounted for under the fair value option, the ratios would have been 15.87 percent, 16.44 percent, 15.85 percent, 14.93 percent and 12.63 percent at March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009, respectively.

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.


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

Bank of America Corporation and Subsidiaries

Nonperforming Loans, Leases and Foreclosed Properties Activity

(Dollars in millions)


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Nonperforming Consumer Loans:
Balance, beginning of period	$	20,839		$	19,654		$	17,772		$	14,592		$	9,888
Additions due to the consolidation of VIEs ⁽¹⁾		448			—			—			—			—
Additions ⁽²⁾		6,298			6,521			6,696			7,076			7,718
Paydowns and payoffs		(625	)		(371	)		(410	)		(382	)		(296	)
Return to performing status ⁽³⁾		(2,521	)		(2,169	)		(966	)		(804	)		(601	)
Charge-offs⁽⁴⁾		(2,607	)		(2,443	)		(2,829	)		(2,478	)		(1,692	)
Other		(275	)		(353	)		(609	)		(232	)		(425	)

Total nonperforming consumer loans, end of period		21,557			20,839			19,654			17,772			14,592
Foreclosed properties		1,388			1,428			1,298			1,330			1,356

Total nonperforming consumer loans and foreclosed properties⁽⁵⁾	$	22,945		$	22,267		$	20,952		$	19,102		$	15,948

Nonperforming Commercial Loans and Leases ⁽⁶⁾:
Balance, beginning of period	$	12,703		$	12,260		$	11,409		$	9,312		$	6,497
Additions ⁽²⁾		1,964			3,792			4,289			4,416			4,434
Paydowns and payoffs		(830	)		(1,048	)		(944	)		(593	)		(490	)
Return to performing status ⁽³⁾		(323	)		(220	)		(94	)		(92	)		(55	)
Charge-offs ⁽⁷⁾		(956	)		(1,448	)		(1,773	)		(1,429	)		(976	)
Other		(498	)		(633	)		(627	)		(205	)		(98	)

Total nonperforming commercial loans and leases, end of period		12,060			12,703			12,260			11,409			9,312
Foreclosed properties		920			777			613			471			372

Total nonperforming commercial loans and foreclosed properties⁽⁵⁾	$	12,980		$	13,480		$	12,873		$	11,880		$	9,684

(1)

Balance reflects impact of new accounting guidance on consolidation of VIEs and transfers of financial assets.

(2)

The first quarter of 2009 includes $465 million of nonperforming consumer loans and $402 million of nonperforming commercial loans and leases acquired from Merrill Lynch.

(3)

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 also considering the borrower’s sustained historical repayment performance for a reasonable period, generally six months.

(4)

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

(5)

For amount excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 36.

(6)

Includes small business commercial - domestic activity.

(7)

Business card loans 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.


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

Bank of America Corporation and Subsidiaries

Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios ^{(1, 2)}

(Dollars in millions)


	First Quarter 2010				Fourth Quarter 2009					Third Quarter 2009					Second Quarter 2009					First Quarter 2009
Net Charge-offs	Amount		Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	1,069	1.78	%	$	1,233		2.07	%	$	1,247		2.05	%	$	1,085		1.72	%	$	785		1.20	%
Home equity		2,397	6.37			1,560		4.11			1,970		5.10			1,839		4.71			1,681		4.30
Discontinued real estate		21	0.60			14		0.38			37		0.89			35		0.76			15		0.31
Credit card - domestic		3,963	12.82			1,546		12.46			1,787		14.25			1,788		13.87			1,426		9.81
Credit card - foreign		631	8.57			395		7.22			382		7.14			276		5.88			186		4.48
Direct/Indirect consumer		1,109	4.46			1,288		5.17			1,451		5.76			1,475		5.90			1,249		5.03
Other consumer		58	7.80			114		14.20			118		14.00			99		11.93			97		11.67

Total consumer		9,248	5.60			6,150		4.24			6,992		4.73			6,597		4.39			5,439		3.54

Commercial - domestic ⁽³⁾		286	0.63			637		1.36			773		1.58			536		1.03			244		0.46
Commercial real estate		615	3.64			745		4.15			873		4.67			629		3.34			455		2.56
Commercial lease financing		21	0.40			43		0.79			41		0.72			44		0.81			67		1.22
Commercial - foreign		25	0.37			162		2.30			149		2.05			122		1.54			104		1.25

		947	1.28			1,587		2.05			1,836		2.28			1,331		1.58			870		1.02
Small business commercial - domestic		602	14.21			684		15.16			796		17.45			773		16.69			633		13.47

Total commercial		1,549	1.98			2,271		2.78			2,632		3.09			2,104		2.37			1,503		1.68

Total net charge-offs	$	10,797	4.44		$	8,421		3.71		$	9,624		4.13		$	8,701		3.64		$	6,942		2.85


By Business Segment
Deposits	$	43	34.73	%	$	97		56.52	%	$	98		57.21	%	$	86		56.10	%	$	85		40.60	%
Global Card Services ⁽⁴⁾		6,011	12.88			6,487		12.88			7,400		14.07			6,975		12.96			5,276		9.55
Home Loans & Insurance		2,317	7.03			1,501		4.50			1,963		5.87			1,599		4.88			1,492		4.82
Global Banking & Markets		154	0.64			517		2.13			486		1.90			396		1.43			235		0.82
Global Commercial Banking		1,065	2.04			1,310		2.39			1,452		2.57			1,241		2.14			1,035		1.78
Global Wealth & Investment Management		119	0.49			211		0.84			285		1.12			172		0.68			162		0.60
All Other ⁽⁴⁾		1,088	1.72			(1,702	)	(4.39	)		(2,060	)	(5.28	)		(1,768	)	(4.28	)		(1,343	)	(3.12	)

Total net charge-offs	$	10,797	4.44		$	8,421		3.71		$	9,624		4.13		$	8,701		3.64		$	6,942		2.85


Supplemental managed basis data

Credit card - domestic		n/a	n/a		$	4,195		12.69	%	$	4,816		13.92	%	$	4,530		12.69	%	$	3,421		9.20	%
Credit card - foreign		n/a	n/a			672		8.48			661		8.41			517		7.06			373		5.47

Total credit card managed net losses		n/a	n/a		$	4,867		11.88		$	5,477		12.90		$	5,047		11.73		$	3,794		8.62

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets.

(2)

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 accounted for under the fair value option during the period for each loan and lease category.

(3)

Excludes small business commercial - domestic loans.

(4)

Global Card Services is presented on a managed basis for periods prior to first quarter 2010. 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


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

Bank of America Corporation and Subsidiaries

Allocation of the Allowance for Credit Losses by Product Type

(Dollars in millions)


	March 31, 2010						December 31, 2009						March 31, 2009
Allowance for loan and lease losses ⁽¹⁾	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	$	4,683	10.00	%	1.91	%	$	4,607	12.38	%	1.90	%	$	2,856	9.83	%	1.09	%
Home equity		12,178	26.00		8.12			10,160	27.31		6.81			7,457	25.67		4.73
Discontinued real estate		1,110	2.37		7.81			989	2.66		6.66			67	0.23		0.35
Credit card - domestic		13,703	29.26		11.34			6,017	16.18		12.17			4,597	15.83		8.96
Credit card - foreign		2,394	5.11		8.32			1,581	4.25		7.30			866	2.98		5.20
Direct/Indirect consumer		3,395	7.25		3.42			4,227	11.36		4.35			5,381	18.52		5.40
Other consumer		191	0.41		6.35			204	0.55		6.53			202	0.70		6.11

Total consumer		37,654	80.40		5.70			27,785	74.69		4.81			21,426	73.76		3.52

Commercial - domestic ⁽³⁾		4,956	10.58		2.53			5,152	13.85		2.59			5,264	18.12		2.29
Commercial real estate		3,569	7.62		5.36			3,567	9.59		5.14			1,756	6.05		2.33
Commercial lease financing		278	0.59		1.30			291	0.78		1.31			238	0.82		1.08
Commercial - foreign		378	0.81		1.41			405	1.09		1.50			364	1.25		1.09

Total commercial ⁽⁴⁾		9,181	19.60		2.95			9,415	25.31		2.96			7,622	26.24		2.11

Allowance for loan and lease losses		46,835	100.00	%	4.82			37,200	100.00	%	4.16			29,048	100.00	%	3.00

Reserve for unfunded lending commitments		1,521						1,487						2,102

Allowance for credit losses	$	48,356					$	38,687					$	31,150

(1)

Current period is presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets.

(2)

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured at fair value under the fair value option for each loan and lease category. Loans measured at fair value include commercial - domestic loans of $2.5 billion, $3.0 billion and $4.8 billion, commercial—foreign loans of $1.5 billion, $1.9 billion and $2.5 billion, and commercial real estate loans of $101 million, $90 million and $89 million at March 31, 2010, December 31, 2009 and March 31, 2009.

(3)

Includes allowance for small business commercial—domestic loans of $2.1 billion, $2.4 billion and $3.1 billion at March 31, 2010, December 31, 2009, and March 31, 2009.

(4)

Includes allowance for loan and lease losses for impaired commercial loans of $934 million, $1.2 billion and $1.1 billion at March 31, 2010, December 31, 2009 and March 31, 2009.

Allocation of the Allowance for Credit Losses by Product Type - Impact of New Accounting Guidance on Consolidations

(Dollars in millions)


Allowance for loan and lease losses ⁽¹⁾	March 31 2010		January 1 2010		Consolidation Impact ⁽¹⁾		December 31 2009
Residential mortgage	$	4,683	$	4,607	$	—	$	4,607
Home equity		12,178		10,733		573		10,160
Discontinued real estate		1,110		989		—		989
Credit card - domestic		13,703		15,102		9,085		6,017
Credit card - foreign		2,394		2,686		1,105		1,581
Direct/Indirect consumer		3,395		4,251		24		4,227
Other consumer		191		204		—		204

Total consumer		37,654		38,572		10,787		27,785

Commercial - domestic		4,956		5,153		1		5,152
Commercial real estate		3,569		3,567		—		3,567
Commercial lease financing		278		291		—		291
Commercial - foreign		378		405		—		405

Total commercial		9,181		9,416		1		9,415

Allowance for loan and lease losses		46,835		47,988		10,788		37,200
Reserve for unfunded lending commitments		1,521		1,487		—		1,487

Allowance for credit losses	$	48,356	$	49,475	$	10,788	$	38,687

(1)

Represents impact of new accounting guidance on consolidation of VIEs and transfers of financial assets.

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


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

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliation to GAAP Financial Measures

(Dollars in millions, shares in thousands)

The Corporation evaluates its business based upon a fully taxable-equivalent basis which is a non-GAAP measure. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The adjustment of net interest income to a fully taxable-equivalent basis results in a corresponding increase in income tax expense. The Corporation also evaluates its business based upon ratios that utilize tangible equity which is a non-GAAP measure. Return on average tangible common shareholders’ equity measures the Corporation’s earnings contribution as a percentage of common shareholders’ equity plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of average shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible common equity ratio represents common shareholders’ equity plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio represents total shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents ending common shareholders’ equity plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by ending common shares outstanding plus any common shares issued upon assumed conversion of common equivalent shares. 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 March 31, 2010, December 31, 2009, September 30, 2009, June 30, 2009 and March 31, 2009.

Reconciliation of net interest income to net interest income fully taxable-equivalent basis


	First Quarter 2010			Fourth Quarter 2009			Third Quarter 2009			Second Quarter 2009			First Quarter 2009
Net interest income	$	13,749		$	11,559		$	11,423		$	11,630		$	12,497
Fully taxable-equivalent adjustment		321			337			330			312			322

Net interest income fully taxable-equivalent basis	$	14,070		$	11,896		$	11,753		$	11,942		$	12,819


Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense fully taxable-equivalent basis

Total revenue, net of interest expense	$	31,969		$	25,076		$	26,035		$	32,774		$	35,758
Fully taxable-equivalent adjustment		321			337			330			312			322

Net interest income fully taxable-equivalent basis	$	32,290		$	25,413		$	26,365		$	33,086		$	36,080


Reconciliation of income tax expense (benefit) to income tax expense (benefit) fully taxable-equivalent basis

Income tax expense (benefit)	$	1,207		$	(1,225	)	$	(975	)	$	(845	)	$	1,129
Fully taxable-equivalent adjustment		321			337			330			312			322

Income tax expense (benefit) fully taxable-equivalent basis	$	1,528		$	(888	)	$	(645	)	$	(533	)	$	1,451


Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity

Common shareholders’ equity	$	200,380		$	197,123		$	197,230		$	173,497		$	160,739
Common Equivalent Securities		11,760			4,811			—			—			—
Goodwill		(86,334	)		(86,053	)		(86,170	)		(87,314	)		(84,584	)
Intangible assets (excluding MSRs)		(11,906	)		(12,556	)		(13,223	)		(13,595	)		(9,461	)
Related deferred tax liabilities		3,497			3,712			3,725			3,916			3,977

Tangible common shareholders’ equity	$	117,397		$	107,037		$	101,562		$	76,504		$	70,671


Reconciliation of average shareholders’ equity to average tangible shareholders’ equity

Shareholders’ equity	$	229,891		$	250,599		$	255,983		$	242,867		$	228,766
Goodwill		(86,334	)		(86,053	)		(86,170	)		(87,314	)		(84,584	)
Intangible assets (excluding MSRs)		(11,906	)		(12,556	)		(13,223	)		(13,595	)		(9,461	)
Related deferred tax liabilities		3,497			3,712			3,725			3,916			3,977

Tangible shareholders’ equity	$	135,148		$	155,702		$	160,315		$	145,874		$	138,698


Reconciliation of period end common shareholders’ equity to period end tangible common shareholders’ equity

Common shareholders’ equity	$	211,859		$	194,236		$	198,843		$	196,492		$	166,272
Common Equivalent Securities		—			19,244			—			—			—
Goodwill		(86,305	)		(86,314	)		(86,009	)		(86,246	)		(86,910	)
Intangible assets (excluding MSRs)		(11,548	)		(12,026	)		(12,715	)		(13,245	)		(13,703	)
Related deferred tax liabilities		3,396			3,498			3,714			3,843			3,958

Tangible common shareholders’ equity	$	117,402		$	118,638		$	103,833		$	100,844		$	69,617


Reconciliation of period end shareholders’ equity to period end tangible shareholders’ equity

Shareholders’ equity	$	229,823		$	231,444		$	257,683		$	255,152		$	239,549
Goodwill		(86,305	)		(86,314	)		(86,009	)		(86,246	)		(86,910	)
Intangible assets (excluding MSRs)		(11,548	)		(12,026	)		(12,715	)		(13,245	)		(13,703	)
Related deferred tax liabilities		3,396			3,498			3,714			3,843			3,958

Tangible shareholders’ equity	$	135,366		$	136,602		$	162,673		$	159,504		$	142,894


Reconciliation of period end assets to period end tangible assets

Assets	$	2,333,200		$	2,223,299		$	2,251,043		$	2,254,394		$	2,321,963
Goodwill		(86,305	)		(86,314	)		(86,009	)		(86,246	)		(86,910	)
Intangible assets (excluding MSRs)		(11,548	)		(12,026	)		(12,715	)		(13,245	)		(13,703	)
Related deferred tax liabilities		3,396			3,498			3,714			3,843			3,958

Tangible assets	$	2,238,743		$	2,128,457		$	2,156,033		$	2,158,746		$	2,225,308


Reconciliation of ending common shares outstanding to ending tangible common shares outstanding

Common shares outstanding		10,032,001			8,650,244			8,650,314			8,651,459			6,400,950
Assumed conversion of common equivalent shares ⁽¹⁾		—			1,286,000			—			—			—

Tangible common shares outstanding		10,032,001			9,936,244			8,650,314			8,651,459			6,400,950

(1)

On February 24, 2010, the common equivalent shares converted into common shares.

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


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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

Global Card Services - Reconciliation

(Dollars in millions)


	Fourth Quarter 2009									Third Quarter 2009
	Managed Basis ⁽¹⁾			Securitization Impact ⁽²⁾			Held Basis			Managed Basis ⁽¹⁾			Securitization Impact ⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	4,879		$	(2,226	)	$	2,653		$	4,919		$	(2,275	)	$	2,644
Noninterest income:
Card income		2,093			(679	)		1,414			2,183			(1,007	)		1,176
All other income		115			(21	)		94			148			(26	)		122

Total noninterest income		2,208			(700	)		1,508			2,331			(1,033	)		1,298

Total revenue, net of interest expense		7,087			(2,926	)		4,161			7,250			(3,308	)		3,942

Provision for credit losses		6,854			(2,926	)		3,928			6,823			(3,308	)		3,515
Noninterest expense		1,897			—			1,897			1,923			—			1,923

Loss before income taxes		(1,664	)		—			(1,664	)		(1,496	)		—			(1,496	)
Income tax benefit⁽³⁾		(658	)		—			(658	)		(536	)		—			(536	)

Net loss	$	(1,006	)	$	—		$	(1,006	)	$	(960	)	$	—		$	(960	)


Balance sheet
Average - total loans and leases	$	199,756		$	(91,705	)	$	108,051		$	208,650		$	(97,520	)	$	111,130
Period end - total loans and leases		196,289			(89,715	)		106,574			202,860			(94,328	)		108,532

	Second Quarter 2009									First Quarter 2009
	Managed Basis ⁽¹⁾			Securitization Impact ⁽²⁾			Held Basis			Managed Basis⁽¹⁾			Securitization Impact⁽²⁾			Held Basis
Net interest income ⁽³⁾	$	4,976		$	(2,358	)	$	2,618		$	5,199		$	(2,391	)	$	2,808
Noninterest income:
Card income		2,163			(592	)		1,571			2,114			244			2,358
All other income		124			(33	)		91			135			(35	)		100

Total noninterest income		2,287			(625	)		1,662			2,249			209			2,458

Total revenue, net of interest expense		7,263			(2,983	)		4,280			7,448			(2,182	)		5,266

Provision for credit losses		7,655			(2,983	)		4,672			8,221			(2,182	)		6,039
Noninterest expense		1,929			—			1,929			2,039			—			2,039

Loss before income taxes		(2,321	)		—			(2,321	)		(2,812	)		—			(2,812	)
Income tax benefit⁽³⁾		(740	)		—			(740	)		(1,060	)		—			(1,060	)

Net loss	$	(1,581	)	$	—		$	(1,581	)	$	(1,752	)	$	—		$	(1,752	)


Balance sheet
Average - total loans and leases	$	215,808		$	(102,046	)	$	113,762		$	224,013		$	(102,672	)	$	121,341
Period end - total loans and leases		211,325			(100,438	)		110,887			217,532			(105,392	)		112,140

(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 current period results in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior period results are presented on a managed basis. 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. In prior periods, loan securitization removed loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualifying special purpose entity which was excluded from the Corporation’s Consolidated Financial Statements in accordance with GAAP applicable at the time.

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, excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. In prior periods, Global Card Services managed income statement line items differed from a held basis reported as follows:

•

Managed net interest income included 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 included 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 included the impact of adjustments to the interest-only strips that were recorded in card income as management managed this impact within Global Card Services.

•

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


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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

All Other - Reconciliation

(Dollars in millions)


	Fourth Quarter 2009								Third Quarter 2009
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾		As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(1,549	)	$	2,226	$	677		$	(1,799	)	$	2,275		$	476
Noninterest income:
Card income (loss)		(431	)		679		248			(721	)		1,007			286
Equity investment income		829			—		829			886			—			886
Gains on sales of debt securities		856			—		856			1,442			—			1,442
All other loss		(2,524	)		21		(2,503	)		(2,283	)		26			(2,257	)

Total noninterest income (loss)		(1,270	)		700		(570	)		(676	)		1,033			357

Total revenue, net of interest expense		(2,819	)		2,926		107			(2,475	)		3,308			833


Provision for credit losses		(1,512	)		2,926		1,414			(1,217	)		3,308			2,091
Merger and restructuring charges		533			—		533			594			—			594
All other noninterest expense		544			—		544			595			—			595

Loss before income taxes		(2,384	)		—		(2,384	)		(2,447	)		—			(2,447	)
Income tax benefit⁽³⁾		(873	)		—		(873	)		(920	)		—			(920	)

Net loss	$	(1,511	)	$	—	$	(1,511	)	$	(1,527	)	$	—		$	(1,527	)


Balance sheet
Average - total loans and leases	$	154,007		$	91,705	$	245,712		$	155,084		$	97,520		$	252,604
Period end - total loans and leases		161,128			89,715		250,843			153,845			94,328			248,173

	Second Quarter 2009								First Quarter 2009
	Reported Basis⁽¹⁾			Securitization Offset⁽²⁾		As Adjusted			Reported Basis⁽¹⁾			Securitization Offset⁽²⁾			As Adjusted
Net interest income ⁽³⁾	$	(1,601	)	$	2,358	$	757		$	(1,866	)	$	2,391		$	525
Noninterest income:
Card income (loss)		(277	)		592		315			534			(244	)		290
Equity investment income		5,980			—		5,980			1,326			—			1,326
Gains on sales of debt securities		672			—		672			1,471			—			1,471
All other income (loss)		(4,313	)		33		(4,280	)		2,550			35			2,585

Total noninterest income		2,062			625		2,687			5,881			(209	)		5,672

Total revenue, net of interest expense		461			2,983		3,444			4,015			2,182			6,197

Provision for credit losses		(1	)		2,983		2,982			(667	)		2,182			1,515
Merger and restructuring charges		829			—		829			765			—			765
All other noninterest expense		558			—		558			213			—			213

Income (loss) before income taxes		(925	)		—		(925	)		3,704			—			3,704
Income tax expense (benefit)⁽³⁾		(1,712	)		—		(1,712	)		769			—			769

Net income	$	787		$	—	$	787		$	2,935		$	—		$	2,935


Balance sheet
Average - total loans and leases	$	165,557		$	102,046	$	267,603		$	174,730		$	102,672		$	277,402
Period end - total loans and leases		159,949			100,438		260,387			171,408			105,392			276,800

(1)

Current period results are presented in accordance with new accounting guidance on consolidation of VIEs and transfers of financial assets. Prior period results are presented on a managed basis. Provision for credit losses represents provision for credit losses in All Other combined with 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.


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

Appendix: Selected Slides from the

First Quarter 2010 Earnings Release Presentation


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

LOGO

A Solid Start to 2010 Financials

Revenue of $32.3 B up 14% from 4Q09 but down 16% from 1Q09, on a managed basis

– Sales and trading recorded record revenue of $7.0 B including write-downs on legacy assets of only

$34 M

– Net interest income continues to be pressured by lack of loan demand

– Merrill Lynch structured notes valuation gain in 1Q10 of $226 M, 4Q09 loss of $1.6 B, and 1Q09 gain of $2.2 B

– Prior year comparison also impacted by 1Q09 revenue of $1.9 B gain from asset sales Expense of $17.8 B up 8% from 4Q09 and 5% from 1Q09

– 1Q10 expenses of $758 M related to retirement eligible grants compared to 1Q09 of $165 M

– 1Q10 and 4Q09 included litigation costs of $500 M

– Revenue related incentives up from 4Q09 on higher sales and trading results

– Non-compensation expenses declined 5% from 4Q09 Credit quality trends mostly positive

– Provision expense of $9.8 B declined $3.2 B or 25% from 4Q09, on a managed basis comparison

– Provision expense was $992 M less than charge-offs while 4Q09 provision expense was $1.7 B more than charge-offs

– Net credit losses of $10.8 B (on a managed basis comparison) declined $550 M from 4Q09

– Nonperforming assets were flat compared to 4Q09

– Commercial reserveable criticized exposure down for second straight quarter with pace of decline accelerating Strong capital and liquidity

– Tier 1 capital ratio of 10.23%

– Tier 1 common ratio of 7.60%

– Tangible common equity ratio of 5.24%

– Global excess liquidity increased roughly $50 B to more than $260 B

– Time to required funding stands at 24 months

LOGO

Net Interest Income (continued)

Managed Average Loans (excl. Residential Mortgages)

$ in Billions

$1,200

$900

$600

$300

$832 $371 $461

$814 $363 $451

$786 $344 $442

$761 $330 $431

$748 $322 $426

1Q09 2Q09 3Q09 4Q09 1Q10

$ in Billions

$1,200 $900 $600 $300 $0

$964 $115 $187 $662

$975 $116 $193 $666

$990 $120 $200 $670

$995 $102 $215 $678

$981 $92 $212 $677

1Q09 2Q09 3Q09 4Q09 1Q10

$ in Billions

$800 $600 $400 $200 $0

$551 $286 $265

$509 $255 $254

$506 $264 $242

$516 $279 $237

$555 $311 $244

1Q09 2Q09 3Q09 4Q09 1Q10Net Interest Income (continued)

Comments vs 4Q09

Average loans, including impact of net charge-offs, declined $13 B compared to 4Q09 on a managed basis Consumer declines were led by average card receivables falling $7 B

Commercial loans declined $8 B

– Excluding impact of FAS 166/167 adoption commercial loans fell $13 B

– Clients at the smaller revenue end of the Commercial portfolio have started to exhibit early signs of demand improvement based on preliminary application trends the past two months

Comments vs. 4Q09

Average retail deposits remain flat even after expected CD maturities, exit of fully insured government program (TAGP) and Countrywide run-offs Commercial deposits held steady as clients remain highly liquid. We saw minimal impact to opting out of TAGP

Other deposits, primarily CDs with institutional investors, declined $10 B

Comments vs. 4Q09

The growth in average balances ($39 B) was primarily due to additions at the end of 2009 in highly liquid agency mortgage-backed securities and U.S. treasuries

– Increase partially offset by reduction of Credit Card ABS securities due to impact of FAS 166/167 With continued customer deleveraging, liquidity is up nearly $50 B

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Mortgage Banking Revenue

Commentary

• Mortgage banking revenue declined $152 M vs. 4Q09

– Servicing income increased $146 M due mainly to lower than expected prepayments

– Production income declined $298 M as volume and margins decreased

– Production income remains impacted from expenses associated with reps and warranties. 1Q10 included roughly $500 M for reps and warranties in line with 4Q09

$in Millions

$3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $-

$3,314 $1,600 $1,714

$2,527 $1,577 $950

$1,298 $1,017 $281

$1,652 $929 $723

$1,500 $631 $869

1Q09 2Q09 3Q09 4Q09 1Q10

Key Mortgage Statistics

($ in B) 1Q10 4Q09 1Q09

Total Corp Home Loan Originations

First Mortgage $ 69.5 $ 86.6 $ 85.2 Home Equity 2.0 2.8 4.0

MSR, Ending Balance $ 18.8 $ 19.5 $ 14.1 Capitalized MSR, bps 110 113 83 Serviced for Others, EOP $ 1,717 $ 1,716 $ 1,699

Net servicing income

Production

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Other Revenue Items

Equity investment revenue

• 1Q10 includes $331 M loss from sale of $3 B discretionary equity securities portfolio

• 4Q09 included $1.1 B gain recorded from dilution of ownership in Blackrock

Gains on sales of debt securities

• Gains on sales of debt securities of $734 M in 1Q10 compared to $1 B in 4Q09 and $1.5 B in 1Q09

Insurance Revenue

• Insurance income remains strong at $715 M in 1Q10, in line with $703 M in 4Q09 and $688 M in 1Q09

Other Income

• Fair value option impact on Merrill Lynch structured notes resulted in 1Q10 gain of $226 M vs loss of $1.6 B in 4Q09 and $2.2 B gain in 1Q09

• Other-than-temporary impairment losses of $601 M driven by non-agency CMOs

• Write-downs on legacy assets within other income were minimal in 1Q10 compared to $1 B in 4Q09 and $1.7 B in 1Q09

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Expense Management

Commentary vs. 4Q09

1Q10 increase from 4Q09 driven by the impact of expenses related to retirement eligible grants and higher revenue related incentives

Personnel expenses are up $1.8 B from 4Q09

– $758 M related to the impact of expenses from retirement eligible grants

– Excluding the retirement eligible grants expense, $1 B higher personnel expense was driven by increased incentive compensation based on overall financial performance

Non-personnel costs declined 5% from 4Q09

Both quarters include roughly $500 M in litigation costs

$17,002 $17,775 $17,020 $16,306 $16,385

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Asset Quality Items of Interest

Impact of Special Items

Adoption of FAS 166/167 consolidated onto the balance sheet certain receivables primarily held off-balance sheet in trusts

– Higher card receivables ($89.7 B), reserves ($10.2 B), NCOs ($2.7 B), 30+ delinquencies ($6.6 B)

– Higher home equity receivables ($5.1 B), reserves ($570 M) and NCOs ($ 170 M)

– Higher commercial loans ($5.2 B) and auto loans ($2.6 B)

Implementation of guidance clarifying charge-offs on collateral dependent modified loans

– Higher home equity charge-offs ($643 M)

– Higher residential mortgage charge-offs ($161 M)

– Higher discontinued real estate charge-offs ($9 M)

Delinquent FHA government insured loans

($ in M)

1Q10 4Q09 3Q09 2Q09 1Q09

FHA insured 30+ delinquencies $ 14,917 $ 12,241 $ 2,426 $ 447 $ 411

Change from prior period $ 2,676 $ 9,815 $ 1,979 $ 36

30+ Delinquency Amounts

Total consumer as reported 36,752 37,043 27,925 26,771 28,628

Total consumer excl. FHA insured 21,835 24,802 25,499 26,324 28,217

Residential mortgages as reported 20,858 19,360 9,455 7,533 7,926

Residential mortgages excl. FHA insured 5,941 7,119 7,029 7,086 7,515

30+ Delinquency Ratios

Total consumer as reported 5.56% 5.55% 4.15% 3.88% 4.01%

Total consumer excl. FHA insured 3.42% 3.79% 3.81% 3.81% 3.95%

Residential mortgages as reported 8.51% 8.00% 3.96% 3.06% 3.03%

Residential mortgages excl. FHA insured 2.67% 3.11% 2.98% 2.89% 2.88%

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Credit Quality

Commentary

•Adoption of FAS 166/167 caused increases in credit card and home equity net charge-offs as receivables returned to the balance sheet •Also included in 1Q10 is $813 M in home loan charge-offs on collateral dependent modifications •Excluding these two items all categories were down to mostly flat vs. 4Q09

– Consumer losses compared to prior period on a managed basis were down $811 M

– Commercial loss declines were broad based across industries and borrowers

Net losses

$ in Millions

$15,000 $12,000 $9,000 $6,000

$3,000

$9,124

$11,684

$12,932

$11,347

$10,797

$1,503

$2,182

$5,439

$2,104

$2,983

$6,597

$2,632

$3,308

$6,992

$2,271

$2,926

$6,992

$11,347

$2,271

$2,926

$6,150

$10,797

$1,549

$9,248

1Q09

2Q09

3Q09

4Q09

1Q10

$ in Millions

Consumer net charge offs

Commercial net charge offs

Securitized credit card net losses

$ in Millions

$50,000

$40,000

$30,000

$20,000

$10,000

$29,048

3.52%

$7,622

2.11%

$21,426

4.27%

$8,552

2.48%

$25,233

4.62%

$9,110

2.76%

$26,722

4.81%

$9,415

2.96%

$27,785

5.70%

$9,181

2.95%

$37,654

6.00%

4.00%

2.00%

0.00%

$33,785

$35,832

$37,200

$46,835

Consumer allowance for loan losses

Commercial ALLL as % of loans

Commercial allowance for loan losses

Consumer ALLL as % of loans

Commentary

•Adoption of FAS 166/167 resulted in an increase in the reserves of approximately $11 B, primarily in credit card •Total allowance coverage now stands at 4.8% of loans and leases •Excluding FAS 166/167 impact the reserve was lowered $992 M

– Consumer unsecured reserves were reduced $2.3 B

– Consumer Real Estate reserves increased $1.5 B, including $890 M for Countrywide purchased credit-impaired loans

Commercial reserves decreased $233 M primarily in Small Business

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Delinquency and Criticized Trends

Consumer 30 days past due performing

Commentary

•Core delinquencies in 1Q10 declined in Card Services for the fourth consecutive quarter and in Home Loans which was largely seasonal

Commentary

•1Q10 declined $3.4 B, the second straight quarterly decline, driven by paydowns, an increase in upgrades and significantly fewer downgrades

$40,000

$35,000

$30,000

$25,000

$20,000

$15,000

$10,000

$28,628

$411

$28,217

$26,771

$447

$26,324

$5,000

$12,241

$27,925

$2,426

$25,499

$37,043

$24,802

$36,752

$14,917

$21,835

1Q09

2Q09

3Q09

4Q09

1Q10

$70,000

$60,000

$50,000

$40,000

$30,000

$20,000

$10,000

1Q09

2Q09

3Q09

4Q09

1Q10

$48,660

$57,180

$60,059

$58,687

$55,322

$ in Millions

core consumer

Government insured loans

commercial utilized reservable criticized exposure

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Focus on Home Equity Loans

Loan Balances – End of Period ($ in billions)

$0 $ 50 $100 $150

$157.6 $155.0 $152.0 $149.1 $149.9

$13.2

$26.0

$110.7

1Q09

2Q09

3Q09

4Q09

1Q10

Non-purchased credit-impaired second lien

First lien

Purchased credit-impaired

Allowance For Non-Purchased Credit-Impaired Loans

($ In millions)

$10,000 $5,000 $0 1Q09 2Q09 3Q09 4Q09 1Q10

$5,862 $6,756 $7,085 $7,189 $8,263

Net Charge-offs

($In millions)

$2,500

$2,000

$1,500

$1,000

$500

1Q09 2Q09 3Q09 4Q09 1Q10

$1,681

$1,839

$1,970

$1,560

$2,397

Home Equity Portfolio Characteristics

90% of portfolio are stand-alone originations versus piggy back loans

$13.2 B legacy Countrywide purchased credit-impaired loan portfolio For the non-purchased credit-impaired portfolio:

– $26.0 B are in first lien position

– $110.7 B are second lien positions

35% or $38.8 B have CLTV greater than 100%

Does not mean that entire second lien position is a loss in the event of default

Assuming proceeds of 89% of the collateral value, we estimate collateral value of $10.7 B available for second liens

Additionally, on 92% of second liens with CLTVs greater than 100%, the customer is current Allowance on the non-purchased credit-impaired home equity portfolio is $8.3 B

2 Charge-offs do not include Countrywide purchased credit-impaired portfolio as they were considered part of the original purchase accounting.

1Q10 losses include $643 M on collateral dependent modified loans and $170 M from consolidation of loans under FAS

166/167

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Countrywide Purchased Credit-Impaired Loan Portfolio

($ in billions)

7/1/2008 3/31/2010 1

Carrying

Value Net

Lifetime of

UPB Loss Ratio 2 UPB Allowance

Residential Mortgage $ 10.5 17% $ 8.4 $ 7.2

Home Equity 21.1 49% 17.9 9.5

Discontinued Real Estate 26.6 24% 20.0 15.4

Total Portfolio $ 58.2 32% $ 46.3 $ 32.1

1 Product classification is based on the original product classification even if loans were subsequently modified into another product type

2 The lifetime loss ratio represents our current estimate of the lifetime losses of the purchase credit-impaired portfolio as a percentage of the UPB at acquisition. This compares to the original lifetime estimate of losses of 23%.

The remaining pool has a UPB of $46.3 B and is carried, net of allowance, at $32.1 B or 69% of UPB

1Q10 includes an increase in the allowance through provision of $890 M compared to $537 M in 4Q09. The additional provision resulted from portfolio trends and a reassessment of modification impacts as we gain more experience with customers going through the modification process.

While $15.7 B of UPB in this purchased credit-impaired portfolio has become more than 180 days past due, including $10.7 B of first lien and $5.0 B of home equity loans, customers are up-to-date or current on their payments on $24.6 B.

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Mortgage Modification Efforts

* Bank of America services 14 M first and second lien mortgage loans

* 1.4 M first mortgage servicing customers are more than 60 days delinquent on their mortgage payment.

- Approximately 621,000 customers are potentially eligible for a mortgage modification through HAMP

- Reasons for HAMP ineligibility

- Loans originated after January 1, 2009; customers who have an FHA, VA or Jumbo mortgage or are in current workout programs

- Non-owner occupied or vacant

- Debt-to-income ratio of less than 31%

- Unemployment or underemployment

* Bank of America and Countrywide have provided home ownership retention opportunities on more than 800,000 modification transactions with customers in past two years

- More than 530,000 through our proprietary programs

- More than 289,000 have begun a trial modification (extended offers to 388,000)

- More than 82% of trial modifications have made 3 or more consecutive payments

- Completed nearly 33,000 permanent modifications

- Additional 38,000 modifications are awaiting customer signature

Cumulative Mortgage Modifications

900,000

800,000

700,000

600,000

500,000

400,000

300,000

200,000

100,000

‘09

‘10

Active MHA Trial Modifications

MHA Permanent Modifications

Non-MHA Permanent Modifications*

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Results by Business Segment – 4Q09

($ in millions, FTE basis)

Global Wealth Global Global Global Card Home Loans & Investment Commercial Banking &

Total Corp Deposits Services & Insurance Management Banking Markets All Other

Net interest income $ 11,896 $ 1,764 $ 4,879 $ 1,275 $ 1,276 $ 2,069 $ 2,182 $ (1,549) Card income 1,782 - 2,093 - 25 63 32 (431) Service charges 2,756 1,645 - 1 21 522 566 1 Investment and brokerage services 3,014 (3) - - 2,404 1 608 4 Investment banking income 1,596 - - - 80 8 1,969 (461) Equity investment income 2,026 - 2 (1) 1,365 (22) (147) 829 Trading account profits 1,475 - (1) - 15 22 1,377 62 Mortgage banking income 1,652 - - 1,816 4 - (25) (143) Gains on sales of debt securities 1,039 - - 4 (3) - 182 856 All other income (1,823) 3 114 696 322 134 (1,105) (1,987) Total noninterest income 13,517 1,645 2,208 2,516 4,233 728 3,457 (1,270) Total revenue, net of interest expense 25,413 3,409 7,087 3,791 5,509 2,797 5,639 (2,819) Total noninterest expense 16,385 2,348 1,897 3,163 3,371 917 3,612 1,077 Pre-tax preprovision earnings 9,028 1,061 5,190 628 2,138 1,880 2,027 (3,896) Provision for credit losses 10,110 75 6,854 2,249 54 1,832 558 (1,512) Income (loss) before income taxes (1,082) 986 (1,664) (1,621) 2,084 48 1,469 (2,384) Income tax expense (benefit) (888) 389 (658) (628) 778 76 28 (873) Net income (loss) $ (194) $ 597 $ (1,006) $ (993) $ 1,306 $ (28) $ 1,441 $ (1,511)

Large pre-tax items included in 4Q09 numbers above:

FVO impact mostly on Merrill notes (1,582) Retirement eligible expense -Marks on legacy assets (1,053) CVA2 (186) Blackrock ownership dilution 1,140 Total large items 4Q09 (1,681)

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Results by Business Segment – 1Q09

($ in millions, FTE basis)

Global Wealth Global Global Global Card Home Loans & Investment Commercial Banking &

Total Corp Deposits Services & Insurance Management Banking Markets All Other

Net interest income $ 12,819 $ 1,869 $ 5,199 $ 1,191 $ 1,662 $ 1,970 $ 2,794 $ (1,866) Card income 2,865 - 2,114 1 25 38 153 534 Service charges 2,533 1,501 - 5 32 509 484 2 Investment and brokerage services 2,963 (2) - - 2,310 5 631 19 Investment banking income 1,055 - - - 14 7 1,120 (86) Equity investment income 1,202 - 2 1 56 (12) (171) 1,326 Trading account profits 5,201 - - (2) 34 32 4,969 168 Mortgage banking income 3,314 - - 3,420 7 - (6) (107) Gains on sales of debt securities 1,498 - - 4 - - 23 1,471 All other income 2,630 4 133 615 206 134 (1,016) 2,554 Total noninterest income 23,261 1,503 2,249 4,044 2,684 713 6,187 5,881 Total revenue, net of interest expense 36,080 3,372 7,448 5,235 4,346 2,683 8,981 4,015 Total noninterest expense 17,002 2,323 2,039 2,655 3,322 961 4,724 978 Pre-tax preprovision earnings 19,078 1,049 5,409 2,580 1,024 1,722 4,257 3,037 Provision for credit losses 13,380 88 8,221 3,372 254 1,765 347 (667) Income (loss) before income taxes 5,698 961 (2,812) (792) 770 (43) 3,910 3,704 Income tax expense (benefit) 1,451 361 (1,060) (298) 291 (13) 1,401 769 Net income (loss) $ 4,247 $ 600 $ (1,752) $ (494) $ 479 $ (30) $ 2,509 $ 2,935

Large pre-tax items included in 1Q09 numbers above:

FVO impact mostly on Merrill notes 2,167 Retirement eligible expense (165) Marks on legacy assets (1,739) CCB gain 1,945 CVA2 1,703 Total large items 1Q09 3,911

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Consumer Asset Quality Key Indicators

($ in millions) Residential Mortgage Home Equity Discontinued Real Estate 1Q10 4Q09 1Q10 4Q09 1Q10 4Q09

Excluding Excluding Excluding Excluding Excluding Excluding Purchased Purchased Purchased Purchased Purchased Purchased Credit Credit Credit Credit Credit Credit Impaired Impaired Impaired Impaired Impaired Impaired Loan Loan As Loan As Loan As Loan As Loan As Reported Portfolio 1 As Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1 Reported Portfolio 1

Loans EOP $ 245,007 $ 233,915 $ 242,129 $ 231,052 $ 149,907 $ 136,668 $ 149,126 $ 135,912 $ 14,211 $ 1,529 $ 14,854 $ 1,604 Loans Avg 243,833 232,799 236,883 225,758 152,536 139,542 150,704 137,295 14,433 1,921 15,152 1,685

Net losses $ 1,069 $ 1,069 $ 1,233 $ 1,233 $ 2,397 $ 2,397 $ 1,560 $ 1,560 $ 21 $ 21 $ 14 $ 14 % of avg loans 1.78% 1.86% 2.07 % 2.17 % 6.37% 6.97% 4.11 % 4.51 % 0.60% 4.47% 0.38 % 3.30 %

Allowance for loan losses $ 4,683 $ 4,680 $ 4,607 $ 4,605 $ 12,178 $ 8,263 $ 10,160 $ 7,189 $ 1,110 $ 82 $ 989 $ 87 % of Loans 1.91 % 2.00 % 1.90 % 1.99 % 8.12 % 6.05 % 6.81 % 5.29 % 7.81 % 5.37 % 6.66 % 5.42 %

Avg. refreshed (C)LTV 2, 3 81 82 85 86 74 77 90%+ refreshed (C)LTV 2, 3 34 % 36 % 42 % 43 % 22 % 25 % Avg. refreshed FICO 3 716 718 715 715 652 652 % below 620 FICO 3 14 % 13 % 12 % 13 % 39 % 39 %

1 Excludes the purchased credit impaired loan portfolio acquired from Countrywide

2 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

3 Asset Quality key indicators for residential mortgage exclude FHA insured loans

EOP = end of period

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Consumer Asset Quality Key Indicators (cont’d)

($ in millions) Total Managed Credit Card Other 1 Consumer Held 1/1/2010 Held Managed 1Q10 Impact 4Q09 4Q09 1Q10 4Q09 1Q10 4Q09

Loans EOP $ 149,555 $ 89,715 $ 71,109 $ 160,824 $ 102,394 $ 100,346 $ 661,074 $ 667,279 Loans Avg 155,225 70,893 $ 162,598 $ 103,922 $ 102,114 $ 669,949 $ 667,451

Net losses $ 4,594 $ 1,941 $ 4,867 $ 1,167 $ 1,402 $ 9,248 $ 9,076 % of avg loans 12.00% 10.86% 11.88% 4.55% 5.45% 5.60% 5.40%

Allowance for loan losses $ 16,097 $ 10,190 $ 7,598 $ 3,586 $ 4,431 $ 37,654 $ 27,785 % of Loans 10.76% 10.68% 3.50% 4.42% 5.70% 2 4.81% 2

The average refreshed FICO for the U.S. Credit Card portfolio was flat at 693 for 1Q10

The percentage below 620 FICO was flat for 1Q10 at 16%

1 Other primarily consists of the Consumer Lending and Dealer Financial Services portfolios

2 Calculated as a percentage of held loans

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Residential Mortgage Asset Quality 1

Residential Mortgage 1Q10

($ in mil, loans in bil) 1Q10 vs. 4Q09 4Q09 3Q09 2Q09 1Q09 Loans EOP $ 245.0 $ 2.9 $ 242.1 $ 238.9 $ 246.0 $ 261.6 Net loss 1,069 (164) 1,233 1,247 1,085 785 30+ past due 20,858 1,498 19,360 9,455 7,533 7,926

Net charge-off % 1.8% (29) bps 2.1% 2.1% 1.7% 1.2% 30+ past due % 8.5% 51 bps 8.0% 4.0% 3.1% 3.0%

1Q10 30+ delinquencies include $14.9 billion of delinquent FHA insured loans and 4Q09 included $12.2 billion of delinquent FHA insured loans. Excluding the delinquent FHA insured loans 30+ delinquencies declined due primarily to seasonal trends.

Residential Mortgage

• Net losses decreased $164 million to $1.1 billion and the loss ratio decreased 29 basis points to 1.78%

– 1Q10 reflects $161M of charge-offs on collateral dependent modified loans

– Loans with >90% RLTV represent 34% of the portfolio reflecting continued home price pressure

– CA and FL represented 42% of the portfolio but 58% of losses

– CRA portfolio still drove a disproportionate share of losses (7% of loans with 26% of losses)

• Allowance of $4.7 billion increased $76 million and covers 1.91% of loans

• 75% of the TDRs completed in 2009 and prior are either in performing status or if not, are up-to-date on payments under the modified terms but still classified as non-performing until they meet the criteria for being returned to performing status

• Nonperforming loans and foreclosed properties increased $1.1 billion from 4Q09 to $18.8 billion, pace of increase down slightly from 4Q09

– 63% of nonperforming loans and foreclosed properties are greater than 180 days past due and are carried at appraised value

– Nonperforming TDRs increased $115 million and comprise 16% of residential mortgage nonperforming loans and foreclosed properties o About 48% of the 1Q10 nonperforming residential mortgage modifications were performing at time of reclassification into TDR

• 30+ performing past dues increased $1.5 billion compared to 4Q09 and the ratio rose 51 bps to 8.51% of loans driven by repurchases of delinquent FHA government insured loans

– Excluding delinquent FHA insured loans, delinquencies declined in 1Q10 due primarily to seasonal trends

1 Discontinued Real Estate is not included EOP = end of period

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Home Equity Asset Quality 1

Home Equity 1Q10

($ in mil, loans in bil) 1Q10 vs. 4Q09 4Q09 3Q09 2Q09 1Q09 Loans EOP $ 149.9 $ 0.8 $ 149.1 $ 152.0 $ 155.1 $ 157.6 Net loss 2,397 837 1,560 1,970 1,839 1,681 30+ past due 2,218 33 2,185 2,185 2,001 2,647

Net charge-off % 6.4% 226 bps 4.1% 5.1% 4.7% 4.3% 30+ past due % 1.5% 1 bps 1.5% 1.4% 1.3% 1.7%

Home Equity

• Net losses increased $837 million to $2.4 billion and the loss ratio increased 226 basis points to 6.37%

– 1Q10 includes $643M of charge-offs on collateral dependent modified loans & $170M on FAS 166/167 loans

– Loans with >90% RCLTV2 represent 42% of portfolio reflecting continued home price pressure

– CA and FL represent 40% of the portfolio but 58% of losses

• Allowance of $12.2 billion covers 8.12% of loans (6.05% excluding purchased credit impaired loans) Increase in the st quarter was driven

– 1 primarily by reserve additions amid continued stress in the housing market and impact of the implementation of FAS 166/167

• 84% of the TDRs completed in 2009 and prior are either in performing status or if not, are up-to-date on payments under the modified terms but still classified as non-performing until they meet the criteria for being returned to performing status

• Nonperforming loans and foreclosed properties decreased $482 million from 4Q09 to $3.4 billion and now represent 2.26% of loans and foreclosed properties

– Excluding $231 million of FAS 166/167 nonperforming loans, $713 million decline was driven by write-downs of collateral dependent modified loans and TDRs returning to performing status

– 28% of nonperforming loans and foreclosed properties are greater than 180 days past due and are carried at appraised value

– Nonperforming TDRs decreased $562 million and comprise 33% of home equity NPAs

– Approximately 77% of the 1Q10 nonperforming home equity modifications were performing at time of reclassification into TDR

• 30+ performing delinquencies increased $33 million to $2.2 billion and increased 1 bps to 1.48 % compared to 4Q09

1 Discontinued Real Estate is not included

2 RCLTV = Refreshed combined loan to value EOP = end of period

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Direct/Indirect

Direct/Indirect Consumer Lending (Included in Direct/Indirect) 1Q10 1Q10

($ in mil, loans in bil) 1Q10 vs. 4Q09 4Q09 3Q09 2Q09 1Q09 ($ in mil, loans in bil) 1Q10 vs. 4Q09 4Q09 3Q09 2Q09 1Q09 Loans EOP $ 99.4 $ 2.2 $ 97.2 $ 98.4 $ 99.2 $ 99.7 Loans EOP $ 17.7 $ (2.0) $ 19.7 $ 21.9 $ 24.2 $ 26.6 Net loss 1,109 (179) 1,288 1,451 1,475 1,249 Net loss 882 (121) 1,003 1,187 1,208 921 30+ past due 3,370 (338) 3,708 3,945 4,019 4,145 30+ past due 1,697 (354) 2,051 2,207 2,405 2,687

Net charge-off % 4.5% (71) bps 5.2% 5.8% 5.9% 5.0% Net charge-off % 19.0% 1 bps 19.0% 20.3% 18.9% 13.5% 30+ past due % 3.4% (42) bps 3.8% 4.0% 4.1% 4.2% 30+ past due % 9.6% (79) bps 10.4% 10.1% 9.9% 10.1%

Direct/Indirect Loans

Net losses decreased $179 million to $1.1 billion driven by a decrease in Consumer Lending; the loss ratio decreased 71 bps to 4.46%

Allowance of $3.4 billion covers 3.42% of loans

Dealer Finance portfolio1 of $45.3 billion had a decrease of 54 basis points in loss rate to 1.53%, reflecting seasonality and improved vintage performance

Dealer Finance portfolio1 30+ delinquencies decreased $99 million, or 44 basis points to 2.22% of loans

Losses in the auto portfolio decreased $32 million or 54 basis points from 4Q09

Consumer Lending (part of Direct/Indirect)

Consumer Lending portfolio of $17.7 billion had $121 million of lower losses with a 1Q10 loss rate of 19.01%

Allowance of $2.6 billion covers 14.81% of loans

30+ delinquencies declined $354 million, or 79 basis points to 9.60%

90+ delinquencies declined $153 million, or 20 basis points to 5.49%

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

EOP = end of period

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Commercial Asset Quality Key Indicators 1

($ in millions) Commercial Real Commercial Lease

Commercial 2 Estate Small Business Financing Total Commercial 1Q10 4Q09 1Q10 4Q09 1Q10 4Q09 1Q10 4Q09 1Q10 4Q09

Loans EOP $ 206,189 $208,456 $ 66,649 $ 69,447 $ 16,578 $ 17,526 $ 21,465 $ 22,199 $ 310,881 $317,628 Loans Avg $ 209,741 213,715 68,435 71,260 17,181 17,884 21,675 21,769 317,032 324,628

Net charge-offs $ 310 $ 799 $ 615 $ 745 $ 602 $ 684 $ 21 $ 43 $ 1,549 $ 2,271 % of avg loans 0.59 % 1.48 % 3.64 % 4.15 % 14.21 % 15.16 % 0.40 % 0.79 % 1.98 % 2.78 %

90+ Performing DPD $ 203 $ 280 $ 80 $ 80 $ 573 $ 624 $ 24 $ 32 $ 880 $ 1,016 % of Loans 3 0.10 % 0.13 % 0.12 % 0.11 % 3.45 % 3.56 % 0.11 % 0.15 % 0.28 % 0.32 %

Nonperforming loans $ 4,557 $ 5,102 $ 7,177 $ 7,286 $ 179 $ 200 $ 147 $ 115 $ 12,060 $ 12,703 % of Loans 3 2.21 % 2.45 % 10.77 % 10.49 % 1.08 % 1.14 % 0.68 % 0.52 % 3.88 % 4.00 %

Allowance for loan losses $ 3,186 $ 3,141 $ 3,569 $ 3,567 $ 2,148 $ 2,416 $ 278 $ 291 $ 9,181 $ 9,415 % of Loans 1.55 % 1.51 % 5.36 % 5.14 % 12.95 % 13.79 % 1.30 % 1.31 % 2.95 % 2.96 %

Reservable Criticized

Utilized Exposure 3,4 $ 28,161 $ 30,865 $ 23,340 $ 23,804 $ 1,643 $ 1,789 $ 2,178 $ 2,229 $ 55,322 $ 58,687 % of Total Exposure 10.20 % 11.06 % 32.87 % 32.13 % 9.88 % 10.18 % 10.15 % 10.04 % 14.37 % 14.94 %

1 Does not include certain commercial loans measured at fair value under the fair value option

2 Includes commercial domestic and commercial foreign

3 Excludes the Merrill Lynch purchased credit-impaired loan portfolio

4 Excludes derivatives, foreclosed property, assets held for sale and FVO loans

EOP = end of period

LOGO

Commercial Real Estate – Balances & Losses

Commercial Real Estate loans and lease balances are $66.8 billion, down $2.8 billion from 4Q09.

– Homebuilder balances declined by $719 million in 1Q10.

– Non-Homebuilder declined $2.1 billion, the portfolio is well diversified with no single property type in excess of 20% of balances.

– Balance decline spread across all domestic regions.

Losses declined $130 million in 1Q10

– Homebuilder losses declined by $118 million.

– Non-Homebuilder losses declined by $12 million within Illinois, Northeast and California

Commercial Real Estate Net Credit Losses

18%

16%

14%

12%

10%

NCL Ratio

15.6%

629

1.5%

2Q09

16.8%

873

3.0%

3Q09

14.3%

745

2.9%

4Q09

9.5%

615

3.0%

1Q10

1,000

900

800

700

600

500

400

300

200

100

Total Homebuilder

Total Non Homebuilder

Total Product

NCL Balances ($millions)

1Q10 Commercial Real Estate Balance Mix

Other 10%

Hotels/Motels 10%

Commercial Land (ex. Homebuilder) 4%

Multi-Use 8%

Industrial/Warehouse 9%

Total Homebuilder 10%

Multi-Family Rentals 17%

1Q10 Commercial Real Estate Loss Mix

Multi-Use 6%

Industrial/Warehouse 4%

Office 10%

Multi-Family Rentals 6%

Commercial Land (ex. Homebuilder) 17%

Hotels/Motels 2%

LOGO

Commercial Real Estate – Credit Indicators

Reservable Criticized balances decreased $464 million in 1Q10

vs. an increase of $894 million at 4Q09, driven by lower

utilization, fewer downgrades, and losses.

– Homebuilder decreased by $524 million.

– Non-Homebuilder increased by $60 million, driven by

Multifamily Rentals.

Nonperforming loans and foreclosed properties increased $35

million in 1Q10 vs. $506 million in 4Q09.

– Homebuilder reported a decline of $389 million.

– Non-Homebuilder increased by $424 million, driven by

Office, Multifamily Rentals, and Multi-use.

– Non-Homebuilder credit quality is not expected to

stabilize until after 2010.

Commercial Real Estate Reservable Criticized

80%

70%

60%

50%

40%

30%

20%

10%

Reservable Criticized Rate

73.4%

2Q09

21,166

19.7%

74.3%

22,910

23.6%

3Q09

74.4%

23,804

27.3%

4Q09

74.6%

23,340

28.4%

1Q10

24,500

24,000

23,500

23,000

22,500

22,000

21,500

21,000

20,500

20,000

19,500

Reservable Criticized ($ Millions)

Total Homebuilder

Total Non Homebuilder

Total Product

Commercial Real Estate Nonperforming Loans & FC Property

NPLs & FC Property

45%

40%

35%

30%

25%

20%

15%

10%

38.09%

7,122

5.2%

2Q09

39.6%

7,557

6.3%

3Q09

42.2%

8,063

7.7%

4Q09

40.9%

8,098

8.77%

1Q10

8,200

8,000

7,800

7,600

7,400

7,200

7,000

6,800

6,600

Total Homebuilder

Total Non Homebuilder

Nonperforming Loans & FC Property Balance ($ Millions)