BAC-Exhibit 99.3-3.31.2013

EX-99.3 4 bac-exhibit993x3312013.htm THE SUPPLEMENTAL INFORMATION BAC-Exhibit 99.3-3.31.2013

Supplemental Information

First Quarter 2013

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




Bank of America Corporation and Subsidiaries
Table of Contents	Page


Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Net Interest Income Excluding Trading-related Net Interest Income	9
Quarterly Average Balances and Interest Rates	10
Debt Securities and Available-for-Sale Marketable Equity Securities	12
Quarterly Results by Business Segment	13
Consumer & Business Banking
Total Segment Results	14
Business Results	15
Key Indicators	17
Consumer Real Estate Services
Total Segment Results	18
Business Results	19
Key Indicators	21
Global Banking
Total Segment Results	22
Key Indicators	23
Investment Banking Product Rankings	24
Global Markets
Total Segment Results	25
Key Indicators	26
Global Wealth & Investment Management
Total Segment Results	27
Key Indicators	28
All Other
Total 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
Top 20 Non-U.S. Countries Exposure	35
Select European Countries	36
Nonperforming Loans, Leases and Foreclosed Properties	37
Nonperforming Loans, Leases and Foreclosed Properties Activity	38
Quarterly Net Charge-offs and Net Charge-off Ratios	39
Allocation of the Allowance for Credit Losses by Product Type	40

Exhibit A: Non-GAAP Reconciliations	41



Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Income statement
Net interest income	$	10,664		$	10,324		$	9,938		$	9,548		$	10,846
Noninterest income	12,833			8,336			10,490			12,420			11,432
Total revenue, net of interest expense	23,497			18,660			20,428			21,968			22,278
Provision for credit losses	1,713			2,204			1,774			1,773			2,418
Noninterest expense	18,152			18,360			17,544			17,048			19,141
Income tax expense (benefit)	1,009			(2,636		)	770			684			66
Net income	2,623			732			340			2,463			653
Preferred stock dividends	373			365			373			365			325
Net income (loss) applicable to common shareholders	2,250			367			(33		)	2,098			328
Diluted earnings per common share ⁽¹⁾	0.20			0.03			0.00			0.19			0.03
Average diluted common shares issued and outstanding ⁽¹⁾	11,154,778			10,884,921			10,776,173			11,556,011			10,761,917
Dividends paid per common share	$	0.01		$	0.01		$	0.01		$	0.01		$	0.01

Performance ratios
Return on average assets	0.48		%	0.13		%	0.06		%	0.45		%	0.12		%
Return on average common shareholders' equity	4.18			0.67			n/m			3.89			0.62
Return on average tangible common shareholders' equity ⁽²⁾	6.33			1.01			n/m			5.95			0.95
Return on average tangible shareholders' equity ⁽²⁾	6.53			1.77			0.84			6.16			1.67


At period end
Book value per share of common stock	$	20.30		$	20.24		$	20.40		$	20.16		$	19.83
Tangible book value per share of common stock ⁽²⁾	13.46			13.36			13.48			13.22			12.87
Market price per share of common stock:
Closing price	$	12.18		$	11.61		$	8.83		$	8.18		$	9.57
High closing price for the period	12.78			11.61			9.55			9.68			9.93
Low closing price for the period	11.03			8.93			7.04			6.83			5.80
Market capitalization	131,817			125,136			95,163			88,155			103,123

Number of banking centers - U.S.	5,389			5,478			5,540			5,594			5,651
Number of branded ATMs - U.S.	16,311			16,347			16,253			16,220			17,255
Full-time equivalent employees	262,812			267,190			272,594			275,460			278,688


⁽¹⁾	Due to a net loss applicable to common shareholders for the third quarter of 2012, the impact of antidilutive equity instruments was excluded from diluted earnings per share and average diluted common shares.

⁽²⁾

Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.)

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions, except per share information)

Fully taxable-equivalent (FTE) basis data ⁽¹⁾

	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Net interest income	$	10,875		$	10,555		$	10,167		$	9,782		$	11,053
Total revenue, net of interest expense	23,708			18,891			20,657			22,202			22,485
Net interest yield ⁽²⁾	2.43		%	2.35		%	2.32		%	2.21		%	2.51		%
Efficiency ratio	76.57			97.19			84.93			76.79			85.13


⁽¹⁾	FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.)

⁽²⁾

Calculation includes fees earned on overnight deposits placed with the Federal Reserve and, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks of, $33 million for the first quarter of 2013; $42 million, $48 million, $52 million and $47 million for the fourth, third, second and first quarters of 2012, respectively. For more information, see Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis on pages 10-11.

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 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Interest income
Loans and leases	$	9,178		$	9,366		$	9,597		$	9,744		$	10,173
Debt securities	2,549			2,196			2,062			1,905			2,746
Federal funds sold and securities borrowed or purchased under agreements to resell	315			329			353			360			460
Trading account assets	1,337			1,307			1,189			1,246			1,352
Other interest income	722			773			775			737			730
Total interest income	14,101			13,971			13,976			13,992			15,461

Interest expense
Deposits	382			438			484			519			549
Short-term borrowings	749			855			893			943			881
Trading account liabilities	472			420			418			448			477
Long-term debt	1,834			1,934			2,243			2,534			2,708
Total interest expense	3,437			3,647			4,038			4,444			4,615
Net interest income	10,664			10,324			9,938			9,548			10,846

Noninterest income
Card income	1,410			1,548			1,538			1,578			1,457
Service charges	1,799			1,820			1,934			1,934			1,912
Investment and brokerage services	3,027			2,889			2,781			2,847			2,876
Investment banking income	1,535			1,600			1,336			1,146			1,217
Equity investment income	563			699			238			368			765
Trading account profits	2,989			792			1,239			1,764			2,075
Mortgage banking income (loss)	1,263			(540		)	2,019			1,659			1,612
Gains on sales of debt securities	68			171			339			400			752
Other income (loss)	188			(642		)	(928		)	730			(1,194		)
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses	(14		)	(1		)	(9		)	(13		)	(51		)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income	5			—			3			7			11
Net impairment losses recognized in earnings on available-for-sale debt securities	(9		)	(1		)	(6		)	(6		)	(40		)
Total noninterest income	12,833			8,336			10,490			12,420			11,432
Total revenue, net of interest expense	23,497			18,660			20,428			21,968			22,278

Provision for credit losses	1,713			2,204			1,774			1,773			2,418

Noninterest expense
Personnel	9,891			8,300			8,431			8,729			10,188
Occupancy	1,154			1,151			1,160			1,117			1,142
Equipment	550			551			561			546			611
Marketing	429			480			479			449			465
Professional fees	649			996			873			922			783
Amortization of intangibles	276			309			315			321			319
Data processing	812			773			640			692			856
Telecommunications	409			433			410			417			400
Other general operating	3,982			5,367			4,675			3,855			4,377
Total noninterest expense	18,152			18,360			17,544			17,048			19,141
Income (loss) before income taxes	3,632			(1,904		)	1,110			3,147			719
Income tax expense (benefit)	1,009			(2,636		)	770			684			66
Net income	$	2,623		$	732		$	340		$	2,463		$	653
Preferred stock dividends	373			365			373			365			325
Net income (loss) applicable to common shareholders	$	2,250		$	367		$	(33	)	$	2,098		$	328

Per common share information
Earnings	$	0.21		$	0.03		$	0.00		$	0.19		$	0.03
Diluted earnings	0.20			0.03			0.00			0.19			0.03
Dividends paid	0.01			0.01			0.01			0.01			0.01
Average common shares issued and outstanding	10,798,975			10,777,204			10,776,173			10,775,695			10,651,367
Average diluted common shares issued and outstanding ⁽¹⁾	11,154,778			10,884,921			10,776,173			11,556,011			10,761,917


⁽¹⁾	Due to a net loss applicable to common shareholders for the third quarter of 2012, the impact of antidilutive equity instruments was excluded from diluted earnings per share and average diluted common shares.

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



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



Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012		Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012		Second Quarter 2012			First Quarter 2012
Net income	$	2,623		$	732		$	340	$	2,463		$	653
Other comprehensive income, net-of-tax:
Net change in available-for-sale debt and marketable equity securities	(906		)	(1,169		)	2,365		1,530			(924		)
Net change in derivatives	172			381			234		(81		)	382
Employee benefit plan adjustments	85			(1,171		)	75		79			952
Net change in foreign currency translation adjustments	(42		)	(27		)	15		(32		)	31
Other comprehensive income (loss)	(691		)	(1,986		)	2,689		1,496			441
Comprehensive income (loss)	$	1,932		$	(1,254	)	$	3,029	$	3,959		$	1,094

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



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



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	March 31 2013			December 31 2012			March 31 2012
Assets
Cash and cash equivalents	$	100,980		$	110,752		$	128,792
Time deposits placed and other short-term investments	12,740			18,694			20,479
Federal funds sold and securities borrowed or purchased under agreements to resell	220,623			219,924			225,784
Trading account assets	223,028			227,775			194,094
Derivative assets	52,247			53,497			59,051
Debt securities:
Carried at fair value	305,132			310,850			312,738
Held-to-maturity, at cost	49,577			49,481			34,205
Total debt securities	354,709			360,331			346,943
Loans and leases	911,592			907,819			902,294
Allowance for loan and lease losses	(22,441		)	(24,179		)	(32,211		)
Loans and leases, net of allowance	889,151			883,640			870,083
Premises and equipment, net	11,085			11,858			13,104
Mortgage servicing rights (includes $5,776, $5,716 and $7,589 measured at fair value)	5,896			5,851			7,723
Goodwill	69,930			69,976			69,976
Intangible assets	6,379			6,684			7,696
Loans held-for-sale	19,278			19,413			12,973
Customer and other receivables	71,281			71,467			74,358
Other assets	137,284			150,112			150,393
Total assets	$	2,174,611		$	2,209,974		$	2,181,449

Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	9,113		$	7,906		$	8,920
Derivative assets	187			333			1,109
Loans and leases	116,236			123,227			133,742
Allowance for loan and lease losses	(3,310		)	(3,658		)	(4,509		)
Loans and leases, net of allowance	112,926			119,569			129,233
Loans held-for-sale	3,229			1,969			1,577
All other assets	4,728			4,654			3,118
Total assets of consolidated variable interest entities	$	130,183		$	134,431		$	143,957

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



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



Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	March 31 2013			December 31 2012			March 31 2012
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	357,623		$	372,546		$	338,215
Interest-bearing	661,930			654,332			630,822
Deposits in non-U.S. offices:
Noninterest-bearing	7,177			7,573			7,240
Interest-bearing	68,453			70,810			65,034
Total deposits	1,095,183			1,105,261			1,041,311
Federal funds purchased and securities loaned or sold under agreements to repurchase	248,149			293,259			258,491
Trading account liabilities	90,547			73,587			70,414
Derivative liabilities	47,825			46,016			49,172
Short-term borrowings	42,148			30,731			39,254
Accrued expenses and other liabilities (includes $486, $513 and $651 of reserve for unfunded lending commitments)	132,685			148,579			135,396
Long-term debt	279,641			275,585			354,912
Total liabilities	1,936,178			1,973,018			1,948,950
Shareholders’ equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,685,410 shares	18,780			18,768			18,788
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,822,379,936, 10,778,263,628 and 10,775,604,276 shares	158,157			158,142			157,973
Retained earnings	64,984			62,843			60,734
Accumulated other comprehensive income (loss)	(3,488		)	(2,797		)	(4,996		)
Total shareholders’ equity	238,433			236,956			232,499
Total liabilities and shareholders’ equity	$	2,174,611		$	2,209,974		$	2,181,449

Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	2,539		$	3,731		$	5,598
Long-term debt	31,461			34,256			44,267
All other liabilities	345			360			978
Total liabilities of consolidated variable interest entities	$	34,345		$	38,347		$	50,843

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



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



Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Risk-based capital ^{(1, 2)}:
Tier 1 common capital	$	137,540		$	133,403		$	136,406		$	134,082		$	131,602
Tier 1 capital	160,098			155,461			163,063			164,665			163,199
Total capital	202,648			196,680			205,172			208,936			213,480
Risk-weighted assets ⁽³⁾	1,299,414			1,205,976			1,195,722			1,193,422			1,220,827
Tier 1 common capital ratio ^{(3, 4)}	10.58		%	11.06		%	11.41		%	11.24		%	10.78		%
Tier 1 capital ratio	12.32			12.89			13.64			13.80			13.37
Total capital ratio	15.60			16.31			17.16			17.51			17.49
Tier 1 leverage ratio	7.56			7.37			7.84			7.84			7.79
Tangible equity ratio ⁽⁵⁾	7.83			7.62			7.85			7.73			7.48
Tangible common equity ratio ⁽⁵⁾	6.94			6.74			6.95			6.83			6.58


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


⁽²⁾	Basel 1 includes the Market Risk Final Rule for the first quarter of 2013. Basel 1 did not include the Market Risk Final Rule for the fourth, third, second and first quarters of 2012.


⁽³⁾	On a pro-forma basis, under the Market Risk Final Rule, fourth quarter 2012 risk-weighted assets and the Tier 1 common capital ratio would have been $1,284,799 million and 10.38 percent, respectively.


⁽⁴⁾	Tier 1 common capital ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

⁽⁵⁾

Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 41-44.)



Basel 1 to Basel 3 (fully phased-in) Reconciliation ^{(1, 2)}
(Dollars in millions)
	March 31 2013			December 31 2012			September 30 2012			June 30 2012
Regulatory capital – Basel 1 to Basel 3 (fully phased-in)
Basel 1 Tier 1 capital	$	160,098		$	155,461		$	163,063		$	164,665
Deduction of qualifying preferred stock and trust preferred securities	(22,558		)	(22,058		)	(26,657		)	(30,583		)
Basel 1 Tier 1 common capital	137,540			133,403			136,406			134,082
Deduction of defined benefit pension assets	(776		)	(737		)	(1,709		)	(3,057		)
Change in deferred tax assets and other threshold deductions (deferred tax asset temporary differences, mortgage servicing rights and significant investments)	(3,983		)	(3,020		)	(1,102		)	(3,745		)
Change in all other deductions, net	(2,032		)	(1,020		)	1,040			(2,459		)
Basel 3 (fully phased-in) Tier 1 common capital	$	130,749		$	128,626		$	134,635		$	124,821

Risk-weighted assets – Basel 1 to Basel 3 (fully phased-in)
Basel 1 risk-weighted assets	$	1,299,414		$	1,205,976		$	1,195,722		$	1,193,422
Net change in credit and other risk-weighted assets	89,313			103,085			216,244			298,003
Increase due to Market Risk Final Rule	—			81,811			88,881			79,553
Basel 3 (fully phased-in) risk-weighted assets	$	1,388,727		$	1,390,872		$	1,500,847		$	1,570,978

Tier 1 common capital ratios
Basel 1	10.58		%	11.06		%	11.41		%	11.24		%
Basel 3 (fully phased-in)	9.42			9.25			8.97			7.95


⁽¹⁾	Basel 3 estimates are based on the U.S. Basel 3 Advanced NPR.


⁽²⁾	Basel 1 includes the Market Risk Final Rule at March 31, 2013. At December 31, 2012, September 30, 2012 and June 30, 2012, Basel 1 did not include the Market Risk Final Rule.

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
Net Interest Income Excluding Trading-related Net Interest Income
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Net interest income (FTE basis)
As reported ⁽¹⁾	$	10,875		$	10,555		$	10,167		$	9,782		$	11,053
Impact of trading-related net interest income	(1,010		)	(1,012		)	(847		)	(653		)	(796		)
Net interest income excluding trading-related net interest income ⁽²⁾	$	9,865		$	9,543		$	9,320		$	9,129		$	10,257

Average earning assets
As reported	$	1,800,786		$	1,788,936		$	1,750,275		$	1,772,568		$	1,768,105
Impact of trading-related earning assets	(497,730		)	(482,366		)	(446,948		)	(444,584		)	(424,414		)
Average earning assets excluding trading-related earning assets ⁽²⁾	$	1,303,056		$	1,306,570		$	1,303,327		$	1,327,984		$	1,343,691

Net interest yield contribution (FTE basis) ⁽³⁾
As reported ⁽¹⁾	2.43		%	2.35		%	2.32		%	2.21		%	2.51		%
Impact of trading-related activities	0.62			0.56			0.53			0.55			0.55
Net interest yield on earning assets excluding trading-related activities ⁽²⁾	3.05		%	2.91		%	2.85		%	2.76		%	3.06		%

⁽¹⁾

Net interest income and net interest yield include fees earned on overnight deposits placed with the Federal Reserve and, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks, of $33 million for the first quarter of 2013 and $42 million, $48 million, $52 million and $47 million for the fourth, third, second and first quarters of 2012, respectively.


⁽²⁾	Represents a non-GAAP financial measure.


⁽³⁾	Calculated on an annualized basis.

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



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



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis
(Dollars in millions)
	First Quarter 2013						Fourth Quarter 2012						First Quarter 2012
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments ⁽¹⁾	$	16,129	$	46	1.17	%	$	16,967	$	50	1.14	%	$	31,404	$	65	0.83	%
Federal funds sold and securities borrowed or purchased under agreements to resell	237,463		315		0.54		241,950		329		0.54		233,061		460		0.79
Trading account assets	194,364		1,380		2.87		186,252		1,362		2.91		164,114		1,399		3.42
Debt securities ⁽²⁾	356,399		2,556		2.87		360,213		2,201		2.44		341,619		2,752		3.22
Loans and leases ⁽³⁾:
Residential mortgage	258,772		2,342		3.62		256,729		2,293		3.57		272,655		2,592		3.80
Home equity	105,797		995		3.80		110,105		1,067		3.86		122,933		1,164		3.80
U.S. credit card	91,712		2,249		9.95		92,849		2,336		10.01		98,334		2,459		10.06
Non-U.S. credit card	11,027		329		12.10		13,081		383		11.66		14,151		408		11.60
Direct/Indirect consumer	82,364		620		3.06		82,583		662		3.19		88,321		801		3.65
Other consumer	1,666		19		4.36		1,602		19		4.57		2,617		40		6.24
Total consumer	551,338		6,554		4.79		556,949		6,760		4.84		599,011		7,464		5.00
U.S. commercial	210,706		1,666		3.20		209,496		1,729		3.28		195,111		1,756		3.62
Commercial real estate	39,179		326		3.38		38,192		341		3.55		39,190		339		3.48
Commercial lease financing	23,534		236		4.01		22,839		184		3.23		21,679		272		5.01
Non-U.S. commercial	81,502		467		2.32		65,690		433		2.62		58,731		391		2.68
Total commercial	354,921		2,695		3.07		336,217		2,687		3.18		314,711		2,758		3.52
Total loans and leases	906,259		9,249		4.12		893,166		9,447		4.21		913,722		10,222		4.49
Other earning assets	90,172		733		3.29		90,388		771		3.40		84,185		723		3.46
Total earning assets⁽⁴⁾	1,800,786		14,279		3.20		1,788,936		14,160		3.16		1,768,105		15,621		3.55
Cash and cash equivalents ⁽¹⁾	92,846		33				111,671		42				112,512		47
Other assets, less allowance for loan and lease losses	318,795						309,758						306,557
Total assets	$	2,212,427					$	2,210,365					$	2,187,174

⁽¹⁾

For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Corporation’s Consolidated Balance Sheet presentation of these deposits. In addition, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks, which are included in the time deposits placed and other short-term investments line in prior periods, have been included in the cash and cash equivalents line. Net interest income and net interest yield are calculated excluding these fees.


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


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


⁽⁴⁾	The impact of interest rate risk management derivatives on interest income is presented below. Interest income includes the impact of interest rate risk management contracts, which increased (decreased) interest income on:



	First Quarter 2013				Fourth Quarter 2012				First Quarter 2012
Time deposits placed and other short-term investments		$	—			$	(1	)		$	—
Federal funds sold and securities borrowed or purchased under agreements to resell		11				11				51
Debt securities		(122		)		(134		)		(140		)
U.S. commercial		(29		)		(21		)		(16		)
Non-U.S. commercial		(1		)		(1		)		(1		)
Net hedge expenses on assets		$	(141	)		$	(146	)		$	(106	)

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



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



Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	First Quarter 2013						Fourth Quarter 2012						First Quarter 2012
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	42,934	$	6	0.05	%	$	41,294	$	6	0.06	%	$	40,543	$	14	0.14	%
NOW and money market deposit accounts	501,177		117		0.09		479,130		146		0.12		458,649		186		0.16
Consumer CDs and IRAs	88,376		138		0.63		91,256		156		0.68		100,044		194		0.78
Negotiable CDs, public funds and other deposits	20,880		26		0.52		19,904		27		0.54		22,586		36		0.64
Total U.S. interest-bearing deposits	653,367		287		0.18		631,584		335		0.21		621,822		430		0.28
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	12,153		19		0.64		11,964		22		0.71		18,170		28		0.62
Governments and official institutions	901		1		0.23		876		1		0.29		1,286		1		0.41
Time, savings and other	54,599		75		0.56		53,655		80		0.60		55,241		90		0.66
Total non-U.S. interest-bearing deposits	67,653		95		0.57		66,495		103		0.62		74,697		119		0.64
Total interest-bearing deposits	721,020		382		0.22		698,079		438		0.25		696,519		549		0.32
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	337,644		749		0.90		336,341		855		1.01		293,056		881		1.21
Trading account liabilities	92,047		472		2.08		80,084		420		2.09		71,872		477		2.67
Long-term debt	273,999		1,834		2.70		277,894		1,934		2.77		363,518		2,708		2.99
Total interest-bearing liabilities ⁽¹⁾	1,424,710		3,437		0.98		1,392,398		3,647		1.04		1,424,965		4,615		1.30
Noninterest-bearing sources:
Noninterest-bearing deposits	354,260						379,997						333,593
Other liabilities	196,449						199,458						196,050
Shareholders’ equity	237,008						238,512						232,566
Total liabilities and shareholders’ equity	$	2,212,427					$	2,210,365					$	2,187,174
Net interest spread					2.22	%					2.12	%					2.25	%
Impact of noninterest-bearing sources					0.21						0.22						0.25
Net interest income/yield on earning assets ⁽²⁾			$	10,842	2.43	%			$	10,513	2.34	%			$	11,006	2.50	%


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



	First Quarter 2013				Fourth Quarter 2012				First Quarter 2012
Consumer CDs and IRAs		$	13			$	15			$	34
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		3				3				4
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		260				311				325
Long-term debt		(897		)		(930		)		(1,024		)
Net hedge income on liabilities		$	(618	)		$	(598	)		$	(658	)

⁽²⁾

For this presentation, fees earned on overnight deposits placed with the Federal Reserve are included in the cash and cash equivalents line, consistent with the Corporation's Consolidated Balance Sheet presentation of these deposits. In addition, beginning in the third quarter of 2012, fees earned on deposits, primarily overnight, placed with certain non-U.S. central banks, which are included in the time deposits placed and other short-term investments line in prior periods, have been included in the cash and cash equivalents line. Net interest income and net interest yield are calculated excluding these fees.

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



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



Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	March 31, 2013
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	17,186	$	315	$	(62	)	$	17,439
Mortgage-backed securities:
Agency	170,842		4,050		(624		)	174,268
Agency-collateralized mortgage obligations	33,573		1,405		(217		)	34,761
Non-agency residential	8,591		402		(116		)	8,877
Non-agency commercial	3,539		295		—			3,834
Non-U.S. securities	5,606		52		(8		)	5,650
Corporate/Agency bonds	1,349		47		(11		)	1,385
Other taxable securities, substantially all asset-backed securities	11,014		52		(12		)	11,054
Total taxable securities	251,700		6,618		(1,050		)	257,268
Tax-exempt securities	4,607		17		(42		)	4,582
Total available-for-sale debt securities	256,307		6,635		(1,092		)	261,850
Other debt securities carried at fair value	43,442		129		(289		)	43,282
Total debt securities carried at fair value	299,749		6,764		(1,381		)	305,132
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	49,577		446		(249		)	49,774
Total debt securities	$	349,326	$	7,210	$	(1,630	)	$	354,906
Available-for-sale marketable equity securities ⁽¹⁾	$	769	$	795	$	—		$	1,564

	December 31, 2012
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	24,232	$	324	$	(84	)	$	24,472
Mortgage-backed securities:
Agency	183,247		5,048		(146		)	188,149
Agency-collateralized mortgage obligations	36,329		1,427		(218		)	37,538
Non-agency residential	9,231		391		(128		)	9,494
Non-agency commercial	3,576		348		—			3,924
Non-U.S. securities	5,574		50		(6		)	5,618
Corporate/Agency bonds	1,415		51		(16		)	1,450
Other taxable securities, substantially all asset-backed securities	12,089		54		(15		)	12,128
Total taxable securities	275,693		7,693		(613		)	282,773
Tax-exempt securities	4,167		13		(47		)	4,133
Total available-for-sale debt securities	279,860		7,706		(660		)	286,906
Other debt securities carried at fair value	23,927		120		(103		)	23,944
Total debt securities carried at fair value	303,787		7,826		(763		)	310,850
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	49,481		815		(26		)	50,270
Total debt securities	$	353,268	$	8,641	$	(789	)	$	361,120
Available-for-sale marketable equity securities ⁽¹⁾	$	780	$	732	$	—		$	1,512


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



Other Debt Securities Carried at Fair Value
(Dollars in millions)	March 31 2013		December 31 2012
U.S. government and agency securities	$	3,861	$	491
Agency mortgage-backed securities	29,178		13,074
Agency-collateralized mortgage obligations	958		929
Commercial mortgage-backed securities	103		—
Non-U.S. securities ⁽¹⁾	9,182		9,450
Total	$	43,282	$	23,944


⁽¹⁾	Amounts include debt securities used to satisfy certain international regulatory liquidity requirements.

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



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



Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	First Quarter 2013
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,875		$	4,820	$	743		$	2,351		$	1,111		$	1,596	$	254
Noninterest income	12,833			2,394		1,569			1,874			4,061			2,825		110
Total revenue, net of interest expense (FTE basis)	23,708			7,214		2,312			4,225			5,172			4,421		364
Provision for credit losses	1,713			906		335			195			5			22		250
Noninterest expense	18,152			4,108		4,059			1,900			3,076			3,253		1,756
Income (loss) before income taxes	3,843			2,200		(2,082		)	2,130			2,091			1,146		(1,642		)
Income tax expense (benefit) (FTE basis)	1,220			818		(774		)	792			733			426		(775		)
Net income (loss)	$	2,623		$	1,382	$	(1,308	)	$	1,338		$	1,358		$	720	$	(867	)

Average
Total loans and leases	$	906,259		$	129,570	$	92,963		$	280,305		n/m			$	106,082	$	244,557
Total assets ⁽¹⁾	2,212,427			560,721		128,331			332,781			$	666,629		282,298		241,667
Total deposits	1,075,280			502,483		n/m			221,492			n/m			253,413		35,550
Period end
Total loans and leases	$	911,592		$	127,502	$	90,971		$	287,263		n/m			$	107,048	$	241,407
Total assets ⁽¹⁾	2,174,611			589,410		129,116			340,281			$	625,734		268,263		221,807
Total deposits	1,095,183			530,552		n/m			227,647			n/m			239,853		35,758

	Fourth Quarter 2012
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	10,555		$	4,684	$	729		$	2,282		$	1,116		$	1,490	$	254
Noninterest income (loss)	8,336			2,528		(254		)	1,856			1,907			2,703		(404		)
Total revenue, net of interest expense (FTE basis)	18,891			7,212		475			4,138			3,023			4,193		(150		)
Provision for credit losses	2,204			961		485			179			17			112		450
Noninterest expense	18,360			4,141		5,607			1,796			2,627			3,196		993
Income (loss) before income taxes	(1,673		)	2,110		(5,617		)	2,163			379			885		(1,593		)
Income tax expense (benefit) (FTE basis)	(2,405		)	689		(1,913		)	754			196			309		(2,440		)
Net income (loss)	$	732		$	1,421	$	(3,704	)	$	1,409		$	183		$	576	$	847

Average
Total loans and leases	$	893,166		$	131,217	$	96,605		$	268,364		n/m			$	103,785	$	247,128
Total assets ⁽¹⁾	2,210,365			538,205		131,652			339,085			$	642,252		276,408		282,763
Total deposits	1,078,076			484,062		n/m			242,241			n/m			249,658		36,939
Period end
Total loans and leases	$	907,819		$	133,287	$	94,660		$	278,286		n/m			$	105,928	$	241,980
Total assets ⁽¹⁾	2,209,974			552,238		131,047			334,264			$	629,896		297,326		265,203
Total deposits	1,105,261			496,127		n/m			242,596			n/m			266,188		36,060

	First Quarter 2012
	Total Corporation			Consumer & Business Banking		Consumer Real Estate Services			Global Banking			Global Markets			GWIM		All Other
Net interest income (FTE basis)	$	11,053		$	5,070	$	768		$	2,296		$	910		$	1,531	$	478
Noninterest income (loss)	11,432			2,352		1,896			1,940			3,501			2,616		(873		)
Total revenue, net of interest expense (FTE basis)	22,485			7,422		2,664			4,236			4,411			4,147		(395		)
Provision for credit losses	2,418			877		507			(245		)	(13		)	46		1,246
Noninterest expense	19,141			4,263		3,884			1,997			3,239			3,232		2,526
Income (loss) before income taxes	926			2,282		(1,727		)	2,484			1,185			869		(4,167		)
Income tax expense (benefit) (FTE basis)	273			837		(589		)	911			357			319		(1,562		)
Net income (loss)	$	653		$	1,445	$	(1,138	)	$	1,573		$	828		$	550	$	(2,605	)

Average
Total loans and leases	$	913,722		$	140,341	$	109,601		$	266,206		n/m			$	98,016	$	270,228
Total assets ⁽¹⁾	2,187,174			521,321		157,957			320,252			$	573,305		269,674		344,665
Total deposits	1,030,112			464,023		n/m			210,940			n/m			239,859		52,529
Period end
Total loans and leases	$	902,294		$	137,718	$	108,063		$	261,480		n/m			$	97,953	$	266,095
Total assets ⁽¹⁾	2,181,449			541,578		157,027			314,681			$	563,130		263,500		341,533
Total deposits	1,041,311			484,003		n/m			211,363			n/m			239,915		42,873


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

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Segment Results
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Net interest income (FTE basis)	$	4,820		$	4,684		$	4,643		$	4,695		$	5,070
Noninterest income:
Card income	1,207			1,342			1,340			1,345			1,289
Service charges	1,013			1,034			1,101			1,080			1,062
All other income (loss)	174			152			(10		)	209			1
Total noninterest income	2,394			2,528			2,431			2,634			2,352
Total revenue, net of interest expense (FTE basis)	7,214			7,212			7,074			7,329			7,422

Provision for credit losses	906			961			971			1,131			877

Noninterest expense	4,108			4,141			4,079			4,378			4,263
Income before income taxes	2,200			2,110			2,024			1,820			2,282
Income tax expense (FTE basis)	818			689			749			674			837
Net income	$	1,382		$	1,421		$	1,275		$	1,146		$	1,445

Net interest yield (FTE basis)	3.75		%	3.74		%	3.75		%	3.86		%	4.23		%
Return on average allocated capital ^{(1, 2)}	20.05			—			—			—			—
Return on average economic capital ^{(1, 2)}	—			23.90			21.67			20.19			26.05
Efficiency ratio (FTE basis)	56.95			57.41			57.68			59.74			57.43

Balance Sheet
Average
Total loans and leases	$	129,570		$	131,217		$	132,814		$	135,736		$	140,341
Total earning assets⁽³⁾	520,899			498,209			492,233			489,775			482,297
Total assets ⁽³⁾	560,721			538,205			531,664			529,369			521,321
Total deposits	502,483			484,062			478,123			474,316			464,023
Allocated capital ^{(1, 2)}	28,000			—			—			—			—
Economic capital ^{(1, 2)}	—			23,713			23,470			22,903			22,368

Period end
Total loans and leases	$	127,502		$	133,287		$	132,277		$	134,427		$	137,718
Total earning assets⁽³⁾	548,776			511,961			497,330			495,697			500,575
Total assets ⁽³⁾	589,410			552,238			537,923			535,359			541,578
Total deposits	530,552			496,127			484,598			479,775			484,003

⁽¹⁾

Effective January 1, 2013, the Corporation revised, on a prospective basis, its methodology for allocating capital to the business segments. In connection with the change in methodology, the Corporation updated the applicable terminology in the above table to allocated capital from economic capital as reported in prior periods. For more information, see Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.

⁽²⁾

Return on average allocated capital and return on average economic capital are calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital or average economic capital, as applicable. Allocated capital, economic capital and the related returns are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.)


⁽³⁾	Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results
(Dollars in millions)
	First Quarter 2013
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Card Services
Net interest income (FTE basis)	$	4,820		$	2,387		$	2,433
Noninterest income:
Card income	1,207			15			1,192
Service charges	1,013			1,013			—
All other income	174			102			72
Total noninterest income	2,394			1,130			1,264
Total revenue, net of interest expense (FTE basis)	7,214			3,517			3,697

Provision for credit losses	906			63			843

Noninterest expense	4,108			2,820			1,288
Income before income taxes	2,200			634			1,566
Income tax expense (FTE basis)	818			236			582
Net income	$	1,382		$	398		$	984

Net interest yield (FTE basis)	3.75		%	1.91		%	9.19		%
Return on average allocated capital ^{(2, 3)}	20.05			10.49			31.74
Efficiency ratio (FTE basis)	56.95			80.20			34.82

Balance Sheet
Average
Total loans and leases	$	129,570		$	22,616		$	106,954
Total earning assets ⁽⁴⁾	520,899			506,530			107,396
Total assets ⁽⁴⁾	560,721			539,319			114,429
Total deposits	502,483			502,063			n/m
Allocated capital ^{(2, 3)}	28,000			15,400			12,600

Period end
Total loans and leases	$	127,502		$	22,488		$	105,014
Total earning assets ⁽⁴⁾	548,776			534,098			105,460
Total assets ⁽⁴⁾	589,410			567,346			112,846
Total deposits	530,552			529,501			n/m

	Fourth Quarter 2012
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Card Services
Net interest income (FTE basis)	$	4,684		$	2,213		$	2,471
Noninterest income:
Card income	1,342			16			1,326
Service charges	1,034			1,034			—
All other income	152			124			28
Total noninterest income	2,528			1,174			1,354
Total revenue, net of interest expense (FTE basis)	7,212			3,387			3,825

Provision for credit losses	961			75			886

Noninterest expense	4,141			2,816			1,325
Income before income taxes	2,110			496			1,614
Income tax expense (FTE basis)	689			174			515
Net income	$	1,421		$	322		$	1,099

Net interest yield (FTE basis)	3.74		%	1.81		%	9.02		%
Return on average economic capital ^{(2, 3)}	23.90			9.53			42.77
Efficiency ratio (FTE basis)	57.41			83.11			34.66

Balance Sheet
Average
Total loans and leases	$	131,217		$	22,695		$	108,522
Total earning assets ⁽⁴⁾	498,209			485,913			109,006
Total assets ⁽⁴⁾	538,205			519,064			115,851
Total deposits	484,062			483,686			n/m
Economic capital ^{(2, 3)}	23,713			13,466			10,247

Period end
Total loans and leases	$	133,287		$	22,907		$	110,380
Total earning assets ⁽⁴⁾	511,961			498,150			110,831
Total assets ⁽⁴⁾	552,238			531,354			117,904
Total deposits	496,127			495,711			n/m

For footnotes see page 16.

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Quarterly Results (continued)
(Dollars in millions)
	First Quarter 2012
	Total Consumer & Business Banking			Deposits ⁽¹⁾			Card Services
Net interest income (FTE basis)	$	5,070		$	2,454		$	2,616
Noninterest income:
Card income	1,289			12			1,277
Service charges	1,062			1,062			—
All other income (loss)	1			85			(84		)
Total noninterest income	2,352			1,159			1,193
Total revenue, net of interest expense (FTE basis)	7,422			3,613			3,809

Provision for credit losses	877			87			790

Noninterest expense	4,263			2,890			1,373
Income before income taxes	2,282			636			1,646
Income tax expense (FTE basis)	837			233			604
Net income	$	1,445		$	403		$	1,042

Net interest yield (FTE basis)	4.23		%	2.11		%	8.95		%
Return on average economic capital ^{(2, 3)}	26.05			13.31			41.30
Efficiency ratio (FTE basis)	57.43			79.98			36.05

Balance Sheet
Average
Total loans and leases	$	140,341		$	24,074		$	116,267
Total earning assets ⁽⁴⁾	482,297			467,011			117,580
Total assets ⁽⁴⁾	521,321			500,436			123,179
Total deposits	464,023			463,715			n/m
Economic capital ^{(2, 3)}	22,368			12,189			10,179

Period end
Total loans and leases	$	137,718		$	23,857		$	113,861
Total earning assets ⁽⁴⁾	500,575			486,267			115,177
Total assets ⁽⁴⁾	541,578			521,022			121,425
Total deposits	484,003			483,193			n/m


⁽¹⁾	During the first quarter of 2013, Business Banking results were moved to Deposits and prior periods were reclassified to conform to current period presentation.

⁽²⁾

⁽³⁾


⁽⁴⁾	For presentation purposes, in segments or businesses where the total of liabilities and equity exceeds assets, we allocate assets to match liabilities. As a result, total earning assets and total assets of the businesses may not equal total Consumer & Business Banking.

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Consumer & Business Banking Key Indicators
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Average deposit balances
Checking	$	227,892		$	217,784		$	212,120		$	209,235		$	202,680
Savings	40,959			39,121			39,371			40,119			38,286
MMS	155,088			148,171			145,592			142,096			138,066
CDs and IRAs	74,217			74,589			76,801			78,604			80,807
Non-U.S. and other	4,327			4,397			4,239			4,262			4,184
Total average deposit balances	$	502,483		$	484,062		$	478,123		$	474,316		$	464,023

Deposit spreads (excludes noninterest costs)
Checking	2.06		%	2.28		%	2.46		%	2.65		%	2.82		%
Savings	2.20			2.48			2.62			2.78			2.97
MMS	1.04			1.11			1.16			1.22			1.31
CDs and IRAs	0.55			0.57			0.58			0.62			0.55
Non-U.S. and other	1.02			0.93			1.02			1.06			1.00
Total deposit spreads	1.52			1.66			1.76			1.88			1.96

Brokerage assets	$	82,616		$	75,946		$	75,852		$	72,226		$	73,422

Online banking active accounts (units in thousands)	30,102			29,638			29,809			30,232			30,439
Mobile banking active accounts (units in thousands)	12,641			12,013			11,097			10,290			9,702
Banking centers	5,389			5,478			5,540			5,594			5,651
ATMs	16,311			16,347			16,253			16,220			17,255

U.S. credit card
Loans
Average credit card outstandings	$	91,712		$	92,849		$	93,292		$	95,018		$	98,334
Ending credit card outstandings	90,047			94,835			93,162			94,291			96,433
Credit quality
Net charge-offs	$	947		$	978		$	1,079		$	1,244		$	1,331
	4.19		%	4.19		%	4.60		%	5.27		%	5.44		%
30+ delinquency	$	2,510		$	2,748		$	2,855		$	2,948		$	3,384
	2.79		%	2.90		%	3.06		%	3.13		%	3.51		%
90+ delinquency	$	1,360		$	1,437		$	1,471		$	1,594		$	1,866
	1.51		%	1.52		%	1.58		%	1.69		%	1.93		%
Other U.S. credit card indicators
Gross interest yield	9.95		%	10.01		%	10.04		%	9.97		%	10.06		%
Risk-adjusted margin	8.39			8.48			7.66			7.51			6.54
New account growth (in thousands)	906			837			857			782			782
Purchase volumes	$	46,632		$	51,628		$	48,189		$	48,886		$	44,797

Debit card data
Purchase volumes	$	64,635		$	66,217		$	64,121		$	64,993		$	63,032

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Segment Results
(Dollars in millions; except as noted)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Net interest income (FTE basis)	$	743		$	729		$	719		$	713		$	768
Noninterest income:
Mortgage banking income (loss)	1,487			(284		)	2,188			1,820			1,828
All other income (loss)	82			30			176			(4		)	68
Total noninterest income (loss)	1,569			(254		)	2,364			1,816			1,896
Total revenue, net of interest expense (FTE basis)	2,312			475			3,083			2,529			2,664

Provision for credit losses	335			485			263			187			507

Noninterest expense	4,059			5,607			4,180			3,526			3,884
Loss before income taxes	(2,082		)	(5,617		)	(1,360		)	(1,184		)	(1,727		)
Income tax benefit (FTE basis)	(774		)	(1,913		)	(503		)	(439		)	(589		)
Net loss	$	(1,308	)	$	(3,704	)	$	(857	)	$	(745	)	$	(1,138	)

Net interest yield (FTE basis)	2.85		%	2.66		%	2.41		%	2.28		%	2.39		%

Balance Sheet
Average
Total loans and leases	$	92,963		$	96,605		$	102,472		$	105,507		$	109,601
Total earning assets	105,715			109,139			118,909			125,600			129,039
Total assets	128,331			131,652			140,510			151,514			157,957
Allocated capital ^{(1, 2)}	24,000			—			—			—			—
Economic capital ^{(1, 2)}	—			12,474			13,336			14,120			14,791

Period end
Total loans and leases	$	90,971		$	94,660		$	98,642		$	104,079		$	108,063
Total earning assets	105,544			106,974			112,977			123,629			129,219
Total assets	129,116			131,047			138,108			146,386			157,027

Period end (in billions)
Mortgage serviced portfolio ^{(3, 4)}	$	1,185.0		$	1,331.8		$	1,461.8		$	1,593.8		$	1,686.4

⁽¹⁾


⁽²⁾	Allocated capital and economic capital are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.)


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


⁽⁴⁾	Excludes loans for which servicing transferred to third parties as of March 31, 2013 with an effective mortgage servicing right sale date of April 1, 2013.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾
(Dollars in millions)
	First Quarter 2013
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	743		$	347		$	396
Noninterest income:
Mortgage banking income	1,487			697			790
All other income (loss)	82			(64		)	146
Total noninterest income	1,569			633			936
Total revenue, net of interest expense (FTE basis)	2,312			980			1,332

Provision for credit losses	335			92			243

Noninterest expense	4,059			814			3,245
Income (loss) before income taxes	(2,082		)	74			(2,156		)
Income tax expense (benefit) (FTE basis)	(774		)	28			(802		)
Net income (loss)	$	(1,308	)	$	46		$	(1,354	)

Balance Sheet
Average
Total loans and leases	$	92,963		$	47,228		$	45,735
Total earning assets	105,715			53,746			51,969
Total assets	128,331			54,505			73,826
Allocated capital ^{(2, 3)}	24,000			6,000			18,000

Period end
Total loans and leases	$	90,971		$	46,929		$	44,042
Total earning assets	105,544			55,111			50,433
Total assets	129,116			55,581			73,535

	Fourth Quarter 2012
	Total Consumer Real Estate Services			Home Loans			Legacy Assets & Servicing
Net interest income (FTE basis)	$	729		$	348		$	381
Noninterest income:
Mortgage banking income (loss)	(284		)	891			(1,175		)
All other income	30			13			17
Total noninterest income	(254		)	904			(1,158		)
Total revenue, net of interest expense (FTE basis)	475			1,252			(777		)

Provision for credit losses	485			77			408

Noninterest expense	5,607			742			4,865
Income (loss) before income taxes	(5,617		)	433			(6,050		)
Income tax expense (benefit) (FTE basis)	(1,913		)	153			(2,066		)
Net income (loss)	$	(3,704	)	$	280		$	(3,984	)

Balance Sheet
Average
Total loans and leases	$	96,605		$	48,312		$	48,293
Total earning assets	109,139			54,720			54,419
Total assets	131,652			55,609			76,043
Economic capital ^{(2, 3)}	12,474			3,888			8,586

Period end
Total loans and leases	$	94,660		$	47,742		$	46,918
Total earning assets	106,974			54,394			52,580
Total assets	131,047			55,463			75,584

For footnotes see page 20.

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Quarterly Results ⁽¹⁾ (continued)
(Dollars in millions)
	First Quarter 2012
	Total Consumer Real Estate Services			Home Loans		Legacy Assets & Servicing
Net interest income (FTE basis)	$	768		$	347	$	421
Noninterest income:
Mortgage banking income	1,828			714		1,114
All other income	68			29		39
Total noninterest income	1,896			743		1,153
Total revenue, net of interest expense (FTE basis)	2,664			1,090		1,574

Provision for credit losses	507			53		454

Noninterest expense	3,884			857		3,027
Income (loss) before income taxes	(1,727		)	180		(1,907		)
Income tax expense (benefit) (FTE basis)	(589		)	66		(655		)
Net income (loss)	$	(1,138	)	$	114	$	(1,252	)

Balance Sheet
Average
Total loans and leases	$	109,601		$	51,663	$	57,938
Total earning assets	129,039			57,474		71,565
Total assets	157,957			58,348		99,609
Economic capital ^{(2, 3)}	14,791			3,467		11,324

Period end
Total loans and leases	$	108,063		$	51,002	$	57,061
Total earning assets	129,219			57,723		71,496
Total assets	157,027			58,682		98,345

⁽¹⁾

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

⁽²⁾


⁽³⁾	Allocated capital and economic capital are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 41-44.)

n/a = not applicable

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



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



Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Key Indicators
(Dollars in millions, except as noted)
	First Quarter 2013				Fourth Quarter 2012				Third Quarter 2012				Second Quarter 2012				First Quarter 2012
	First Quarter 2013				Fourth Quarter 2012				Third Quarter 2012				Second Quarter 2012				First Quarter 2012
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	5,716			$	5,087			$	5,708			$	7,589			$	7,378
Net additions	(60		)		97				85				(7		)		77
Impact of customer payments ⁽¹⁾	(314		)		(335		)		(346		)		(282		)		(521		)
Other changes in mortgage servicing rights fair value ⁽²⁾	434				867				(360		)		(1,592		)		655
Balance, end of period	$	5,776			$	5,716			$	5,087			$	5,708			$	7,589

Capitalized mortgage servicing rights (% of loans serviced for investors)	61			bps	55			bps	45			bps	47			bps	58			bps
Mortgage loans serviced for investors (in billions)	$	949			$	1,045			$	1,142			$	1,224			$	1,313

Loan production:
Total Corporation ⁽³⁾
First mortgage	$	23,920			$	21,516			$	20,315			$	18,005			$	15,238
Home equity	1,116				962				933				930				760
Consumer Real Estate Services
First mortgage	$	19,269			$	16,561			$	15,566			$	14,206			$	12,185
Home equity	942				765				746				724				597

Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	815			$	986			$	944			$	902			$	928
Representations and warranties provision	(250		)		(2,955		)		(307		)		(395		)		(282		)
Total production income (loss)	565				(1,969		)		637				507				646
Servicing income:
Servicing fees	913				1,096				1,089				1,205				1,329
Impact of customer payments ⁽¹⁾	(314		)		(335		)		(346		)		(282		)		(521		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks ⁽⁴⁾	312				912				560				194				194
Other servicing-related revenue	11				12				248				196				180
Total net servicing income	922				1,685				1,551				1,313				1,182
Total Consumer Real Estate Services mortgage banking income (loss)	1,487				(284		)		2,188				1,820				1,828
Other business segments’ mortgage banking loss ⁽⁵⁾	(224		)		(256		)		(169		)		(161		)		(216		)
Total consolidated mortgage banking income (loss)	$	1,263			$	(540	)		$	2,019			$	1,659			$	1,612


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


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


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


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


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

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



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



Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Net interest income (FTE basis)	$	2,351		$	2,282		$	2,188		$	2,120		$	2,296
Noninterest income:
Service charges	685			693			724			725			721
Investment banking income	790			842			662			632			651
All other income	399			321			395			593			568
Total noninterest income	1,874			1,856			1,781			1,950			1,940
Total revenue, net of interest expense (FTE basis)	4,225			4,138			3,969			4,070			4,236

Provision for credit losses	195			179			58			(126		)	(245		)

Noninterest expense	1,900			1,796			1,973			2,006			1,997
Income before income taxes	2,130			2,163			1,938			2,190			2,484
Income tax expense (FTE basis)	792			754			717			811			911
Net income	$	1,338		$	1,409		$	1,221		$	1,379		$	1,573

Net interest yield (FTE basis)	3.29		%	3.09		%	3.07		%	3.15		%	3.33		%
Return on average allocated capital ^{(1, 2)}	21.72			—			—			—			—
Return on average economic capital ^{(1, 2)}	—			28.09			23.79			27.25			31.34
Efficiency ratio (FTE basis)	44.96			43.40			49.71			49.28			47.13

Balance Sheet
Average
Total loans and leases	$	280,305		$	268,364		$	257,427		$	257,302		$	266,206
Total earnings assets ⁽³⁾	289,452			294,176			283,585			270,757			277,039
Total assets ⁽³⁾	332,781			339,085			328,781			313,878			320,252
Total deposits	221,492			242,241			226,877			213,376			210,940
Allocated capital ^{(1, 2)}	25,000			—			—			—			—
Economic capital ^{(1, 2)}	—			19,966			20,436			20,373			20,200

Period end
Total loans and leases	$	287,263		$	278,286		$	262,136		$	255,318		$	261,480
Total earnings assets ⁽³⁾	297,382			289,455			283,307			268,831			269,555
Total assets ⁽³⁾	340,281			334,264			328,119			313,677			314,681
Total deposits	227,647			242,596			234,366			216,015			211,363

⁽¹⁾

⁽²⁾


⁽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 current period presentation.



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



Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Investment Banking fees ⁽¹⁾
Advisory ⁽²⁾	$	233		$	285		$	207		$	314		$	190
Debt issuance	428			450			341			247			347
Equity issuance	129			107			114			71			114
Total Investment Banking fees⁽³⁾	$	790		$	842		$	662		$	632		$	651

Business Lending
Corporate	$	845		$	739		$	765		$	836		$	861
Commercial	1,143			1,101			1,105			1,079			1,098
Total Business Lending revenue⁽³⁾	$	1,988		$	1,840		$	1,870		$	1,915		$	1,959

Treasury Services
Corporate	$	671		$	687		$	660		$	630		$	655
Commercial	716			726			735			727			777
Total Treasury Services revenue ⁽³⁾	$	1,387		$	1,413		$	1,395		$	1,357		$	1,432

Average deposit balances
Interest-bearing	$	68,500		$	68,104		$	64,576		$	63,932		$	64,556
Noninterest-bearing	152,992			174,137			162,301			149,444			146,384
Total average deposits	$	221,492		$	242,241		$	226,877		$	213,376		$	210,940

Loan spread	1.87		%	1.85		%	1.91		%	1.88		%	1.94		%

Provision for credit losses	$	195		$	179		$	58		$	(126	)	$	(245	)

Credit quality ^{(4, 5)}
Reservable utilized criticized exposure	$	10,339		$	10,949		$	12,297		$	14,794		$	17,937
	3.71		%	4.06		%	4.81		%	5.86		%	6.97		%

Nonperforming loans, leases and foreclosed properties	$	1,692		$	2,110		$	2,647		$	3,305		$	4,130
	0.59		%	0.77		%	1.02		%	1.32		%	1.61		%

Average loans and leases by product
U.S. commercial	$	124,853		$	121,503		$	115,958		$	114,923		$	118,006
Commercial real estate	34,824			33,403			31,938			32,326			33,642
Commercial lease financing	24,486			24,057			23,214			23,123			23,387
Non-U.S. commercial	59,859			53,391			50,031			49,088			49,123
Direct/Indirect consumer	36,141			36,003			36,283			37,833			42,040
Other	142			7			3			9			8
Total average loans and leases	$	280,305		$	268,364		$	257,427		$	257,302		$	266,206

Total Corporation Investment Banking fees
Advisory ⁽²⁾	$	257		$	301		$	221		$	340		$	203
Debt issuance	1,022			1,078			865			646			775
Equity issuance	323			250			279			192			305
Total investment banking fees	1,602			1,629			1,365			1,178			1,283
Self-led	(67		)	(29		)	(29		)	(32		)	(66		)
Total Investment Banking fees	$	1,535		$	1,600		$	1,336		$	1,146		$	1,217


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


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


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

⁽⁴⁾

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


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

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



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



Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings

	Three Months Ended March 31, 2013
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	4	7.3	%	3	8.8	%
Leveraged loans	1	16.0		1	16.0
Mortgage-backed securities	3	9.9		2	11.2
Asset-backed securities	1	14.1		1	16.5
Convertible debt	2	10.3		1	21.7
Common stock underwriting	7	5.6		5	9.5
Investment-grade corporate debt	2	7.0		2	14.3
Syndicated loans	2	9.1		2	13.1
Net investment banking revenue	2	7.8		1	11.6
Announced mergers and acquisitions	5	14.4		5	22.6
Equity capital markets	5	6.2		4	11.1
Debt capital markets	5	5.8		2	10.2

Source: Dealogic data as of April 2, 2013. Figures above include self-led transactions.


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


•	Debt capital markets excludes loans but includes agencies.


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


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


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

Highlights



Global top 3 rankings in:
Leveraged loans		Convertible debt
Mortgage-backed securities		Investment-grade corporate debt
Asset-backed securities		Syndicated loans

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

Top 3 rankings excluding self-led deals:


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


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



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



Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012

Net interest income (FTE basis)	$	1,111		$	1,116		$	932		$	724		$	910
Noninterest income:
Investment and brokerage services	528			430			428			448			514
Investment banking fees	679			668			552			438			556
Trading account profits	2,890			725			1,237			1,706			2,037
All other income (loss)	(36		)	84			133			265			394
Total noninterest income	4,061			1,907			2,350			2,857			3,501
Total revenue, net of interest expense (FTE basis) ⁽¹⁾	5,172			3,023			3,282			3,581			4,411

Provision for credit losses	5			17			31			(1		)	(13		)

Noninterest expense	3,076			2,627			2,576			2,855			3,239
Income before income taxes	2,091			379			675			727			1,185
Income tax expense (FTE basis)	733			196			949			228			357
Net income (loss)	$	1,358		$	183		$	(274	)	$	499		$	828

Return on average allocated capital ^{(2, 3)}	18.38		%	—			—			—			—
Return on average economic capital ^{(2, 3)}	—			5.18		%	n/m			15.15		%	23.22		%
Efficiency ratio (FTE basis)	59.46			86.88			78.49		%	79.73			73.44

Balance Sheet
Average
Total trading-related assets ⁽⁴⁾	$	504,266		$	493,188		$	462,138		$	459,869		$	448,731
Total earning assets⁽⁴⁾	509,732			493,935			458,370			456,584			436,871
Total assets	666,629			642,252			597,949			596,182			573,305
Allocated capital ^{(2, 3)}	30,000			—			—			—			—
Economic capital ^{(2, 3)}	—			14,188			13,418			13,320			14,384

Period end
Total trading-related assets ⁽⁴⁾	$	467,826		$	465,836		$	455,161		$	443,948		$	440,091
Total earning assets⁽⁴⁾	480,077			486,503			456,616			440,499			429,985
Total assets	625,734			629,896			596,907			575,495			563,130

Trading-related assets (average)
Trading account securities	$	235,437		$	220,434		$	193,694		$	190,250		$	185,890
Reverse repurchases	157,847			166,399			162,040			160,832			160,079
Securities borrowed	57,425			52,391			51,757			53,297			47,286
Derivative assets	53,557			53,964			54,647			55,490			55,476
Total trading-related assets ⁽⁴⁾	$	504,266		$	493,188		$	462,138		$	459,869		$	448,731


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

⁽²⁾

⁽³⁾


⁽⁴⁾	Trading-related assets include assets which are not considered earning assets (i.e., derivative assets).

n/m = not meaningful

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



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



Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012		Third Quarter 2012		Second Quarter 2012		First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012		Third Quarter 2012		Second Quarter 2012		First Quarter 2012
Sales and trading revenue ⁽¹⁾
Fixed income, currency and commodities	$	3,236		$	1,551	$	2,000	$	2,418	$	2,843
Equities	1,159			674		667		761		912
Total sales and trading revenue	$	4,395		$	2,225	$	2,667	$	3,179	$	3,755

Sales and trading revenue, excluding debit valuation adjustment ⁽²⁾
Fixed income, currency and commodities	$	3,301		$	1,788	$	2,534	$	2,555	$	4,130
Equities	1,149			713		715		780		1,059
Total sales and trading revenue, excluding debit valuation adjustment	$	4,450		$	2,501	$	3,249	$	3,335	$	5,189

Sales and trading revenue breakdown
Net interest income	$	1,020		$	1,014	$	846	$	650	$	798
Commissions	528			430		428		448		514
Trading	2,890			725		1,237		1,706		2,037
Other	(43		)	56		156		375		406
Total sales and trading revenue	$	4,395		$	2,225	$	2,667	$	3,179	$	3,755


⁽¹⁾	Includes Global Banking sales and trading revenue of $68 million for the first quarter of 2013, and $49 million, $110 million, $248 million and $114 million for the fourth, third, second and first quarters of 2012, respectively.

⁽²⁾

For this presentation, sales and trading revenue excludes the impact of credit spreads on debit valuation adjustment which represents a non-GAAP financial measure. Net debit valuation adjustment losses included in fixed income, currency and commodities revenue were $65 million for the first quarter of 2013, and $237 million, $534 million, $137 million and $1.3 billion for the fourth, third, second and first quarters of 2012, respectively. Net debit valuation adjustment gains (losses) included in equities revenue were $10 million for the first quarter of 2013, and $(39) million, $(48) million, $(19) million and $(147) million for the fourth, third, second and first quarters of 2012, respectively.

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



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



Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Net interest income (FTE basis)	$	1,596		$	1,490		$	1,413		$	1,393		$	1,531
Noninterest income:
Investment and brokerage services	2,331			2,272			2,181			2,221			2,175
All other income	494			431			489			480			441
Total noninterest income	2,825			2,703			2,670			2,701			2,616
Total revenue, net of interest expense (FTE basis)	4,421			4,193			4,083			4,094			4,147

Provision for credit losses	22			112			61			47			46

Noninterest expense	3,253			3,196			3,115			3,177			3,232
Income before income taxes	1,146			885			907			870			869
Income tax expense (FTE basis)	426			309			336			322			319
Net income	$	720		$	576		$	571		$	548		$	550

Net interest yield (FTE basis)	2.46		%	2.30		%	2.28		%	2.31		%	2.46		%
Return on average allocated capital ^{(1, 2)}	29.38			—			—			—			—
Return on average economic capital ^{(1, 2)}	—			28.36			29.22			31.76			34.85
Efficiency ratio (FTE basis)	73.58			76.24			76.30			77.61			77.92

Balance Sheet
Average
Total loans and leases	$	106,082		$	103,785		$	101,016		$	98,964		$	98,016
Total earning assets ⁽³⁾	263,484			257,339			246,674			242,843			250,727
Total assets ⁽³⁾	282,298			276,408			265,639			262,124			269,674
Total deposits	253,413			249,658			241,411			238,540			239,859
Allocated capital ^{(1, 2)}	10,000			—			—			—			—
Economic capital ^{(1, 2)}	—			8,149			7,840			7,011			6,420

Period end
Total loans and leases	$	107,048		$	105,928		$	102,390		$	100,261		$	97,953
Total earning assets ⁽³⁾	248,960			277,103			248,807			243,552			244,174
Total assets ⁽³⁾	268,263			297,326			268,408			263,006			263,500
Total deposits	239,853			266,188			243,518			237,339			239,915

⁽¹⁾

⁽²⁾


⁽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 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 2013			Fourth Quarter 2012		Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012		Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Revenues
Merrill Lynch Global Wealth Management	$	3,680		$	3,500	$	3,407		$	3,387		$	3,441
U.S. Trust	721			690		656			683			680
Other ⁽¹⁾	20			3		20			24			26
Total revenues	$	4,421		$	4,193	$	4,083		$	4,094		$	4,147

Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,829,400		$	1,758,496	$	1,746,191		$	1,689,257		$	1,723,402
U.S. Trust	354,721			341,292		332,792			323,711			333,876
Other ⁽¹⁾	64,603			66,874		64,239			66,091			66,309

Client Balances by Type
Assets under management	$	745,260		$	698,095	$	692,854		$	667,452		$	677,602
Brokerage assets	1,026,495			975,388		985,699			959,210			989,860
Assets in custody	127,013			117,686		115,350			111,351			114,931
Deposits	239,853			266,188		243,518			237,339			239,915
Loans and leases ⁽²⁾	110,103			109,305		105,801			103,707			101,279
Total client balances	$	2,248,724		$	2,166,662	$	2,143,222		$	2,079,059		$	2,123,587

Assets Under Management Flows
Liquidity assets under management ⁽³⁾	$	(2,227	)	$	2,545	$	(1,875	)	$	(122	)	$	70
Long-term assets under management ⁽⁴⁾	20,361			9,120		5,779			3,796			7,695
Total assets under management flows	$	18,134		$	11,665	$	3,904		$	3,674		$	7,765

Associates ⁽⁵⁾
Number of Financial Advisors	16,084			16,411		16,759			16,764			16,692
Total Wealth Advisors	17,312			17,640		18,036			18,060			18,004
Total Client Facing Professionals	20,037			20,386		20,778			20,844			20,982

Merrill Lynch Global Wealth Management Metrics
Financial Advisory Productivity ⁽⁶⁾ (in thousands)	$	971		$	927	$	897		$	895		$	891

U.S. Trust Metrics
Client Facing Professionals	2,090			2,077		2,119			2,162			2,223


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


⁽²⁾	Includes margin receivables which are classified in customer and other receivables on the Corporation's Consolidated Balance Sheet.


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


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


⁽⁵⁾	Includes Financial Advisors in the Consumer & Business Banking segment of 1,610, 1,496, 1,457, 1,383 and 1,337 at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.


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

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



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



Bank of America Corporation and Subsidiaries
All Other Results ⁽¹⁾
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Net interest income (FTE basis)	$	254		$	254		$	272		$	137		$	478
Noninterest income:
Card income	85			96			93			84			87
Equity investment income (loss)	520			569			172			(36		)	429
Gains on sales of debt securities	67			117			328			354			712
All other income (loss)	(562		)	(1,186		)	(1,699		)	60			(2,101		)
Total noninterest income (loss)	110			(404		)	(1,106		)	462			(873		)
Total revenue, net of interest expense (FTE basis)	364			(150		)	(834		)	599			(395		)

Provision for credit losses	250			450			390			535			1,246

Noninterest expense	1,756			993			1,621			1,106			2,526
Loss before income taxes	(1,642		)	(1,593		)	(2,845		)	(1,042		)	(4,167		)
Income tax benefit (FTE basis)	(775		)	(2,440		)	(1,249		)	(678		)	(1,562		)
Net income (loss)	$	(867	)	$	847		$	(1,596	)	$	(364	)	$	(2,605	)

Balance Sheet
Average
Total loans and leases	$	244,557		$	247,128		$	256,131		$	263,649		$	270,228
Total assets ⁽²⁾	241,667			282,763			308,769			341,496			344,665
Total deposits	35,550			36,939			39,266			43,722			52,529

Period end
Total loans and leases	$	241,407		$	241,980		$	252,592		$	259,830		$	266,095
Total assets ⁽³⁾	221,807			265,203			296,697			326,931			341,533
Total deposits	35,758			36,060			37,555			39,362			42,873

⁽¹⁾

All Other consists of ALM activities, equity investments, liquidating businesses and other. ALM activities encompass the whole-loan residential mortgage portfolio and investment securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, gains/losses on structured liabilities, and the impact of certain allocation methodologies and accounting hedge ineffectiveness. Equity Investments include Global Principal Investments, strategic and certain other investments. Other includes certain residential mortgage loans that are managed by Legacy Assets & Servicing.


⁽²⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $538.0 billion, $526.4 billion, $513.9 billion, $492.3 billion and $486.5 billion for the first quarter of 2013, and the fourth, third, second and first quarters of 2012, respectively.


⁽³⁾	Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $552.8 billion, $537.8 billion, $513.3 billion, $501.6 billion and $496.4 billion at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.

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



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



Bank of America Corporation and Subsidiaries
Equity Investments
(Dollars in millions)
	Global Principal Investments Exposures
	March 31, 2013						December 31 2012		Equity Investment Income (Loss)
	Book Value		Unfunded Commitments		Total		Total		First Quarter 2013
Global Principal Investments:
Private Equity Investments	$	630	$	42	$	672	$	1,098	$	113
Global Real Estate	422		29		451		506		(26		)
Global Strategic Capital	995		125		1,120		1,385		(25		)
Legacy/Other Investments	739		2		741		705		42
Total Global Principal Investments	$	2,786	$	198	$	2,984	$	3,694	$	104



Components of Equity Investment Income
(Dollars in millions)
	First Quarter 2013		Fourth Quarter 2012		Third Quarter 2012		Second Quarter 2012			First Quarter 2012
	First Quarter 2013		Fourth Quarter 2012		Third Quarter 2012		Second Quarter 2012			First Quarter 2012
Global Principal Investments	$	104	$	167	$	156	$	(137	)	$	403
Strategic and other investments	416		402		16		101			26
Total equity investment income (loss) included in All Other	520		569		172		(36		)	429
Total equity investment income included in the business segments	43		130		66		404			336
Total consolidated equity investment income	$	563	$	699	$	238	$	368		$	765

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



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



Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	March 31 2013		December 31 2012		March 31 2012
Consumer
Residential mortgage ⁽¹⁾	$	256,924	$	253,073	$	266,884
Home equity	103,218		107,996		121,246
U.S. credit card	90,047		94,835		96,433
Non-U.S. credit card	10,620		11,697		13,914
Direct/Indirect consumer ⁽²⁾	81,518		83,205		86,128
Other consumer ⁽³⁾	1,696		1,628		2,607
Total consumer loans excluding loans accounted for under the fair value option	544,023		552,434		587,212
Consumer loans accounted for under the fair value option ⁽⁴⁾	1,041		1,005		2,204
Total consumer	545,064		553,439		589,416

Commercial
U.S. commercial ⁽⁵⁾	213,762		209,719		193,684
Commercial real estate ⁽⁶⁾	39,060		38,637		38,049
Commercial lease financing	23,467		23,843		21,556
Non-U.S. commercial	82,460		74,184		52,601
Total commercial loans excluding loans accounted for under the fair value option	358,749		346,383		305,890
Commercial loans accounted for under the fair value option ⁽⁴⁾	7,779		7,997		6,988
Total commercial	366,528		354,380		312,878
Total loans and leases	$	911,592	$	907,819	$	902,294


⁽¹⁾	Includes pay option loans of $6.5 billion, $6.7 billion and $7.4 billion, subprime loans of $512 million, $509 million and $653 million, and non-U.S. residential mortgages of $86 million, $93 million and $87 million at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. The Corporation no longer originates pay option and subprime loans.

⁽²⁾

Includes dealer financial services loans of $36.1 billion, $35.9 billion and $40.2 billion, consumer lending loans of $4.1 billion, $4.7 billion and $7.1 billion, U.S. securities-based lending margin loans of $28.2 billion, $28.3 billion and $24.0 billion, student loans of $4.6 billion, $4.8 billion and $5.7 billion, non-U.S. consumer loans of $7.4 billion, $8.3 billion and $7.6 billion, and other consumer loans of $1.1 billion, $1.2 billion and $1.5 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽³⁾	Includes consumer finance loans of $1.4 billion, $1.4 billion and $1.6 billion, other non-U.S. consumer loans of $5 million, $5 million and $951 million, and consumer overdrafts of $115 million, $177 million and $58 million at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.

⁽⁴⁾

Consumer loans accounted for under the fair value option were residential mortgage loans of $1.0 billion, $1.0 billion and $2.2 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.1 billion, $2.3 billion and $2.2 billion, non-U.S. commercial loans of $5.7 billion, $5.7 billion and $4.8 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽⁵⁾	Includes U.S. small business commercial loans, including card-related products, of $12.4 billion, $12.6 billion and $13.0 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽⁶⁾	Includes U.S. commercial real estate loans of $37.6 billion, $37.2 billion and $36.3 billion, and non-U.S. commercial real estate loans of $1.4 billion, $1.5 billion and $1.7 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.

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



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



Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	First Quarter 2013
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	258,772	$	499	$	1,332	$	—	$	90	$	41,509	$	215,342
Home equity	105,797		144		91,509		—		84		12,674		1,386
U.S. credit card	91,712		91,712		—		—		—		—		—
Non-U.S. credit card	11,027		—		—		—		—		—		11,027
Direct/Indirect consumer	82,364		4,468		59		36,141		3		32,261		9,432
Other consumer	1,666		135		—		142		—		7		1,382
Total consumer	551,338		96,958		92,900		36,283		177		86,451		238,569

Commercial
U.S. commercial	210,706		30,585		62		124,853		30,051		18,121		7,034
Commercial real estate	39,179		2,021		1		34,824		446		1,369		518
Commercial lease financing	23,534		—		—		24,486		694		4		(1,650		)
Non-U.S. commercial	81,502		6		—		59,859		21,414		137		86
Total commercial	354,921		32,612		63		244,022		52,605		19,631		5,988
Total loans and leases	$	906,259	$	129,570	$	92,963	$	280,305	$	52,782	$	106,082	$	244,557

	Fourth Quarter 2012
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	256,729	$	426	$	1,113	$	—	$	93	$	40,204	$	214,893
Home equity	110,105		146		95,343		—		84		13,164		1,368
U.S. credit card	92,849		92,849		—		—		—		—		—
Non-U.S. credit card	13,081		—		—		—		—		—		13,081
Direct/Indirect consumer	82,583		5,097		75		36,003		23		31,225		10,160
Other consumer	1,602		149		—		7		—		7		1,439
Total consumer	556,949		98,667		96,531		36,010		200		84,600		240,941

Commercial
U.S. commercial	209,496		30,203		73		121,503		32,931		17,691		7,095
Commercial real estate	38,192		2,330		1		33,403		341		1,427		690
Commercial lease financing	22,839		—		—		24,057		458		4		(1,680		)
Non-U.S. commercial	65,690		17		—		53,391		12,137		63		82
Total commercial	336,217		32,550		74		232,354		45,867		19,185		6,187
Total loans and leases	$	893,166	$	131,217	$	96,605	$	268,364	$	46,067	$	103,785	$	247,128

	First Quarter 2012
	Total Corporation		Consumer & Business Banking		Consumer Real Estate Services		Global Banking		Global Markets		GWIM		All Other
Consumer
Residential mortgage	$	272,655	$	297	$	2,254	$	—	$	95	$	37,203	$	232,806
Home equity	122,933		146		107,181		—		—		14,372		1,234
U.S. credit card	98,334		98,334		—		—		—		—		—
Non-U.S. credit card	14,151		—		—		—		—		—		14,151
Direct/Indirect consumer	88,321		7,648		89		42,040		61		27,634		10,849
Other consumer	2,617		84		—		8		—		6		2,519
Total consumer	599,011		106,509		109,524		42,048		156		79,215		261,559

Commercial
U.S. commercial	195,111		31,470		75		118,006		24,066		17,108		4,386
Commercial real estate	39,190		2,348		2		33,642		199		1,551		1,448
Commercial lease financing	21,679		—		—		23,387		—		4		(1,712		)
Non-U.S. commercial	58,731		14		—		49,123		4,909		138		4,547
Total commercial	314,711		33,832		77		224,158		29,174		18,801		8,669
Total loans and leases	$	913,722	$	140,341	$	109,601	$	266,206	$	29,330	$	98,016	$	270,228

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



This information is preliminary and based on company data available at the time of the presentation.	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 2013		December 31 2012		March 31 2012		March 31 2013			December 31 2012			March 31 2012
Diversified financials	$	68,559	$	66,201	$	56,119	$	103,745		$	99,673		$	87,171
Real estate ⁽⁴⁾	47,513		47,479		45,779		65,855			65,639			60,770
Retailing	29,337		28,065		25,663		49,757			47,719			45,088
Capital goods	24,995		25,071		23,127		48,444			49,196			49,730
Government and public education	39,671		41,449		41,981		48,022			50,285			55,126
Healthcare equipment and services	29,107		29,396		30,636		45,556			45,488			47,590
Banking	37,895		40,245		30,562		43,383			45,238			34,433
Materials	22,243		21,809		19,875		42,264			40,493			37,863
Energy	21,167		17,684		15,569		40,853			38,464			32,476
Consumer services	22,193		23,093		24,111		35,195			36,367			37,799
Food, beverage and tobacco	14,909		14,738		14,817		32,936			37,344			29,296
Commercial services and supplies	18,345		19,020		18,431		29,861			30,257			29,290
Utilities	8,900		8,410		7,938		23,104			23,432			24,229
Transportation	15,606		13,791		12,625		21,968			20,255			19,503
Media	12,907		13,091		11,037		21,835			21,705			21,091
Individuals and trusts	14,107		13,916		14,483		18,166			17,801			18,239
Insurance, including monolines	7,100		8,519		8,998		12,803			14,145			15,344
Software and services	5,571		5,549		4,517		11,740			12,125			10,676
Pharmaceuticals and biotechnology	4,439		3,854		4,463		11,191			11,409			11,678
Technology hardware and equipment	4,735		5,118		4,680		10,761			11,108			10,954
Telecommunication services	3,689		4,029		3,936		10,191			10,297			9,977
Consumer durables and apparel	5,198		4,246		4,370		9,362			8,438			8,726
Religious and social organizations	6,235		6,850		7,989		8,435			9,107			10,868
Automobiles and components	3,349		3,312		2,951		7,702			7,675			7,363
Food and staples retailing	4,004		3,528		3,226		7,334			6,838			6,470
Other	8,807		3,264		6,345		11,792			6,507			8,954
Total commercial credit exposure by industry	$	480,581	$	471,727	$	444,228	$	772,255		$	767,005		$	730,704
Net credit default protection purchased on total commitments ⁽⁵⁾							$	(12,444	)	$	(14,657	)	$	(19,880	)

⁽¹⁾

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers' acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by the amount of cash collateral applied of $57.7 billion, $58.1 billion and $60.6 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. Not reflected in utilized and committed exposure is additional derivative collateral held of $18.0 billion, $18.7 billion and $16.7 billion which consists primarily of other marketable securities at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.

⁽²⁾

Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value and are comprised of loans outstanding of $7.8 billion, $8.0 billion and $7.0 billion and issued letters of credit at notional value of $567 million, $672 million and $1.0 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $15.1 billion, $17.6 billion and $23.0 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


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


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


⁽⁵⁾	Represents net notional credit protection purchased.

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



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



Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile ⁽¹⁾

	March 31 2013		December 31 2012
Less than or equal to one year	26	%	21	%
Greater than one year and less than or equal to five years	71		75
Greater than five years	3		4
Total net credit default protection	100	%	100	%


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



Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾
(Dollars in millions)
	March 31, 2013					December 31, 2012
Ratings ^{(2, 3)}	Net Notional ⁽⁴⁾			Percent		Net Notional ⁽⁴⁾			Percent
AAA	$	(120	)	1.0	%	$	(120	)	0.8	%
AA	(412		)	3.3		(474		)	3.2
A	(4,951		)	39.8		(5,861		)	40.0
BBB	(5,133		)	41.2		(6,067		)	41.4
BB	(1,075		)	8.6		(1,101		)	7.5
B	(699		)	5.6		(937		)	6.4
CCC and below	(216		)	1.7		(247		)	1.7
NR ⁽⁵⁾	162			(1.2	)	150			(1.0	)
Total net credit default protection	$	(12,444	)	100.0	%	$	(14,657	)	100.0	%


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


⁽²⁾	Ratings are refreshed on a quarterly basis.


⁽³⁾	Ratings of BBB- or higher are considered to meet the definition of investment grade.


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


⁽⁵⁾	"NR" is comprised of names that have not been rated.

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



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



Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at March 31 2013		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at March 31 2013 ⁽⁵⁾		Increase (Decrease) from December 31 2012
United Kingdom	$	26,266	$	10,666	$	5,173	$	7,539	$	49,644	$	(3,129	)	$	46,515	$	(677	)
Canada	6,132		6,538		2,652		5,340		20,662		(1,411		)	19,251		275
France	3,233		6,101		1,358		5,898		16,590		(2,650		)	13,940		(2,351		)
Brazil	8,739		460		248		4,135		13,582		(187		)	13,395		892
India	8,235		636		267		3,685		12,823		(223		)	12,600		(1,118		)
Germany	6,919		5,377		2,860		1,750		16,906		(5,220		)	11,686		666
China	8,069		282		662		2,529		11,542		(1,003		)	10,539		1,352
Australia	4,781		3,310		665		2,172		10,928		(839		)	10,089		360
Netherlands	4,067		2,277		572		2,330		9,246		(1,173		)	8,073		(2,609		)
South Korea	4,983		577		486		2,503		8,549		(1,090		)	7,459		310
Japan	4,396		466		820		2,944		8,626		(1,818		)	6,808		(17,031		)
Russian Federation	5,861		288		58		771		6,978		(614		)	6,364		1,452
Hong Kong	4,636		612		150		1,026		6,424		(112		)	6,312		869
Switzerland	2,330		3,336		352		638		6,656		(747		)	5,909		89
Singapore	2,823		253		280		2,435		5,791		(154		)	5,637		(4,537		)
Italy	3,386		2,640		1,944		321		8,291		(4,332		)	3,959		(879		)
Mexico	2,392		711		208		930		4,241		(418		)	3,823		164
Taiwan	2,128		43		146		1,355		3,672		(15		)	3,657		435
Turkey	1,900		107		149		531		2,687		(16		)	2,671		531
Spain	2,534		956		177		299		3,966		(1,311		)	2,655		1
Total top 20 non-U.S. countries exposure	$	113,810	$	45,636	$	19,227	$	49,131	$	227,804	$	(26,462	)	$	201,342	$	(21,806	)


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

⁽²⁾

Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps and secured financing transactions. Derivative exposures are presented net of $41.6 billion in collateral, predominantly in cash, pledged under legally enforceable netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $80.0 billion. Counterparty exposure is not presented net of hedges or credit default protection.


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


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


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

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



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



Bank of America Corporation and Subsidiaries
Select European Countries
(Dollars in millions)
	Funded Loans and Loan Equivalents ⁽¹⁾		Unfunded Loan Commitments		Net Counterparty Exposure ⁽²⁾		Securities/ Other Investments ⁽³⁾		Country Exposure at March 31 2013		Hedges and Credit Default Protection ⁽⁴⁾			Net Country Exposure at March 31 2013 ⁽⁵⁾			Increase (Decrease) from December 31 2012
Greece
Sovereign	$	—	$	—	$	—	$	7	$	7	$	—		$	7		$	5
Financial institutions	—		—		—		7		7		(9		)	(2		)	3
Corporates	64		117		13		6		200		(5		)	195			(114		)
Total Greece	$	64	$	117	$	13	$	20	$	214	$	(14	)	$	200		$	(106	)
Ireland
Sovereign	$	17	$	—	$	26	$	62	$	105	$	(10	)	$	95		$	37
Financial institutions	357		30		255		38		680		(34		)	646			54
Corporates	597		257		28		50		932		(2		)	930			1
Total Ireland	$	971	$	287	$	309	$	150	$	1,717	$	(46	)	$	1,671		$	92
Italy
Sovereign	$	21	$	—	$	1,638	$	10	$	1,669	$	(2,265	)	$	(596	)	$	(626	)
Financial institutions	1,861		89		198		28		2,176		(778		)	1,398			321
Corporates	1,504		2,551		108		283		4,446		(1,289		)	3,157			(574		)
Total Italy	$	3,386	$	2,640	$	1,944	$	321	$	8,291	$	(4,332	)	$	3,959		$	(879	)
Portugal
Sovereign	$	—	$	—	$	26	$	35	$	61	$	(44	)	$	17		$	54
Financial institutions	6		—		5		32		43		(18		)	25			(13		)
Corporates	142		89		6		13		250		(149		)	101			16
Total Portugal	$	148	$	89	$	37	$	80	$	354	$	(211	)	$	143		$	57
Spain
Sovereign	$	34	$	—	$	54	$	1	$	89	$	(277	)	$	(188	)	$	(415	)
Financial institutions	808		6		68		110		992		(148		)	844			686
Corporates	1,692		950		55		188		2,885		(886		)	1,999			(270		)
Total Spain	$	2,534	$	956	$	177	$	299	$	3,966	$	(1,311	)	$	2,655		$	1
Total
Sovereign	$	72	$	—	$	1,744	$	115	$	1,931	$	(2,596	)	$	(665	)	$	(945	)
Financial institutions	3,032		125		526		215		3,898		(987		)	2,911			1,051
Corporates	3,999		3,964		210		540		8,713		(2,331		)	6,382			(941		)
Total select European exposure	$	7,103	$	4,089	$	2,480	$	870	$	14,542	$	(5,914	)	$	8,628		$	(835	)


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

⁽²⁾

Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps and secured financing transactions. Derivative exposures are presented net of $2.9 billion in collateral, predominantly in cash, pledged under legally enforceable netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $3.1 billion. Counterparty exposure is not presented net of hedges or credit default protection.


⁽³⁾	Long securities exposures are netted on a single-name basis to, but not below, zero by short exposures of $7.7 billion and net credit default swaps purchased of $1.5 billion, consisting of $1.5 billion of net single-name credit default swaps purchased and $13 million of net indexed and tranched credit default swaps sold.

⁽⁴⁾

Represents credit default protection purchased, net of credit default protection sold, which is used to mitigate the Corporation's risk to country exposures as listed, including $3.6 billion, consisting of $3.2 billion in net single-name credit default swaps purchased and $397 million in net indexed and tranched credit default swaps purchased, to hedge loans and securities, $2.2 billion in additional credit default protection purchased to hedge derivative assets and $148 million in other short exposures. Amounts are calculated based on the credit default swaps notional amount assuming a zero recovery rate less any fair value receivable or payable.


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

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



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



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	March 31 2013			December 31 2012			September 30 2012			June 30 2012			March 31 2012
Residential mortgage ⁽¹⁾	$	15,002		$	15,056		$	15,441		$	14,878		$	15,318
Home equity ^{(1, 2)}	4,195			4,281			4,275			4,207			4,360
Direct/Indirect consumer	84			92			36			35			41
Other consumer	1			2			1			1			5
Total consumer	19,282			19,431			19,753			19,121			19,724
U.S. commercial	1,354			1,484			1,609			1,841			2,048
Commercial real estate	1,139			1,513			2,028			2,498			3,404
Commercial lease financing	19			44			33			39			38
Non-U.S. commercial	112			68			139			194			140
	2,624			3,109			3,809			4,572			5,630
U.S. small business commercial	110			115			139			143			121
Total commercial	2,734			3,224			3,948			4,715			5,751
Total nonperforming loans and leases	22,016			22,655			23,701			23,836			25,475
Foreclosed properties ⁽³⁾	826			900			1,224			1,541			2,315
Total nonperforming loans, leases and foreclosed properties ^{(4, 5, 6)}	$	22,842		$	23,555		$	24,925		$	25,377		$	27,790

Fully-insured home loans past due 90 days or more and still accruing	$	21,617		$	22,157		$	21,817		$	22,287		$	21,176
Consumer credit card past due 90 days or more and still accruing	1,541			1,649			1,695			1,847			2,160
Other loans past due 90 days or more and still accruing	655			776			807			865			984
Total loans past due 90 days or more and still accruing ^{(5, 7, 8)}	$	23,813		$	24,582		$	24,319		$	24,999		$	24,320

Nonperforming loans, leases and foreclosed properties/Total assets ⁽⁹⁾	1.05		%	1.07		%	1.15		%	1.18		%	1.28		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties ⁽⁹⁾	2.53			2.62			2.81			2.87			3.10
Nonperforming loans and leases/Total loans and leases ⁽⁹⁾	2.44			2.52			2.68			2.70			2.85

Commercial utilized reservable criticized exposure ⁽¹⁰⁾	$	15,006		$	15,936		$	17,374		$	20,442		$	24,457
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure ⁽¹⁰⁾	3.75		%	4.10		%	4.69		%	5.64		%	6.77		%
Total commercial utilized criticized exposure/Commercial utilized exposure ⁽¹⁰⁾	4.08			4.44			5.03			5.92			6.86

⁽¹⁾

During the fourth and third quarters of 2012, as a result of regulatory guidance, we changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value and classify as nonperforming. As a result of this change, we reclassified residential mortgage loans of $49 million, home equity loans of $5 million and direct/indirect consumer loans of $58 million to nonperforming as of December 31, 2012, and residential mortgage loans of $567 million and home equity loans of $483 million as of September 30, 2012. Prior period amounts have not been restated.

⁽²⁾

During the first quarter of 2012, the bank regulatory agencies jointly issued interagency supervisory guidance on nonaccrual status for junior-lien consumer real estate loans. In accordance with this regulatory interagency guidance, we classify junior-lien home equity loans as nonperforming when the first-lien loan becomes 90 days past due even if the junior-lien loan is performing. As a result of this change, we reclassified $1.9 billion of current home equity loans to nonperforming as of March 31, 2012.


⁽³⁾	Foreclosed property balances do not include loans that are insured by the Federal Housing Administration and have entered foreclosure of $2.3 billion, $2.5 billion, $2.4 billion, $1.2 billion and $1.1 billion at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.


⁽⁴⁾	Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.


⁽⁵⁾	Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.



⁽⁶⁾Balances do not include the following:	March 31 2013		December 31 2012		September 30 2012		June 30 2012		March 31 2012
Nonperforming loans held-for-sale	$	1,051	$	1,113	$	1,397	$	1,363	$	1,491
Nonperforming loans accounted for under the fair value option	412		401		458		453		798
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	512		521		540		461		459

⁽⁷⁾

Balances do not include loans held-for-sale past due 90 days or more and still accruing of $18 million, $130 million, $26 million, $31 million and $49 million at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively. At March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, there were no loans accounted for under the fair value option past due 90 days or more and still accruing interest.


⁽⁸⁾	These balances are excluded from total nonperforming loans, leases and foreclosed properties.


⁽⁹⁾	Total assets and total loans and leases do not include loans accounted for under the fair value option of $8.8 billion, $9.0 billion, $7.6 billion, $8.4 billion and $9.2 billion at March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.


⁽¹⁰⁾	Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

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



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



Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Nonperforming Consumer Loans:
Balance, beginning of period	$	19,431		$	19,753		$	19,121		$	19,724		$	18,768
Additions to nonperforming loans:
New nonperforming loans	2,661			3,211			3,306			3,259			3,308
Implementation of change in treatment of loans discharged in bankruptcies ⁽²⁾	n/a			112			1,050			n/a			n/a
Implementation of regulatory interagency guidance ⁽³⁾	n/a			n/a			n/a			n/a			1,853
Reductions in nonperforming loans:
Paydowns	(680		)	(968		)	(822		)	(858		)	(1,153		)
Sales	—			(47		)	—			—			—
Returns to performing status ⁽⁴⁾	(943		)	(1,076		)	(943		)	(1,271		)	(913		)
Charge-offs ⁽⁵⁾	(1,072		)	(1,439		)	(1,827		)	(1,541		)	(1,737		)
Transfers to foreclosed properties	(115		)	(115		)	(132		)	(192		)	(402		)
Total net additions (reductions) to nonperforming loans	(149		)	(322		)	632			(603		)	956
Total nonperforming consumer loans, end of period	19,282			19,431			19,753			19,121			19,724
Foreclosed properties	620			650			799			1,108			1,805
Nonperforming consumer loans and foreclosed properties, end of period	$	19,902		$	20,081		$	20,552		$	20,229		$	21,529

Nonperforming Commercial Loans and Leases ⁽⁶⁾:
Balance, beginning of period	$	3,224		$	3,948		$	4,715		$	5,751		$	6,337
Additions to nonperforming loans and leases:
New nonperforming loans and leases	350			473			474			788			599
Advances	6			5			42			14			24
Reductions in nonperforming loans and leases:
Paydowns	(328		)	(445		)	(548		)	(806		)	(573		)
Sales	(147		)	(198		)	(113		)	(392		)	(137		)
Return to performing status ⁽⁷⁾	(167		)	(249		)	(262		)	(152		)	(145		)
Charge-offs ⁽⁸⁾	(177		)	(273		)	(221		)	(379		)	(291		)
Transfers to foreclosed properties	(21		)	(37		)	(93		)	(109		)	(63		)
Transfers to loans held-for-sale	(6		)	—			(46		)	—			—
Total net reductions in nonperforming loans and leases	(490		)	(724		)	(767		)	(1,036		)	(586		)
Total nonperforming commercial loans and leases, end of period	2,734			3,224			3,948			4,715			5,751
Foreclosed properties	206			250			425			433			510
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	2,940		$	3,474		$	4,373		$	5,148		$	6,261


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


⁽²⁾	During the fourth and third quarters of 2012, as a result of regulatory guidance, we changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value and classify as nonperforming. Prior period amounts have not be restated.

⁽³⁾

⁽⁴⁾

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


⁽⁵⁾	Our policy is not to classify consumer credit card and non-bankruptcy related consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and accordingly are excluded from this table.


⁽⁶⁾	Includes U.S. small business commercial activity.

⁽⁷⁾

Commercial 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 a sustained period of demonstrated payment performance.


⁽⁸⁾	Small business card loans are not classified as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and accordingly are excluded from this table.

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.	38



Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios ^{(1, 2, 3, 4)}
(Dollars in millions)
	First Quarter 2013					Fourth Quarter 2012				Third Quarter 2012					Second Quarter 2012				First Quarter 2012
Net Charge-offs	Amount			Percent		Amount		Percent		Amount			Percent		Amount		Percent		Amount			Percent
Residential mortgage	$	383		0.60	%	$	730	1.14	%	$	722		1.10	%	$	750	1.14	%	$	914		1.36	%
Home equity	684			2.62		767		2.77		1,621			5.55		892		3.00		957			3.13
U.S. credit card	947			4.19		978		4.19		1,079			4.60		1,244		5.27		1,331			5.44
Non-U.S. credit card	112			4.14		119		3.62		124			3.70		135		3.97		203			5.78
Direct/Indirect consumer	124			0.61		195		0.94		161			0.78		181		0.86		226			1.03
Other consumer	52			12.76		64		15.78		63			9.53		49		7.71		56			8.59
Total consumer	2,302			1.70		2,853		2.04		3,770			2.64		3,251		2.25		3,687			2.48
U.S. commercial ⁽⁵⁾	45			0.09		27		0.05		55			0.12		94		0.20		66			0.15
Commercial real estate	93			0.96		84		0.88		91			0.97		77		0.83		132			1.36
Commercial lease financing	(10		)	(0.18	)	1		0.02		(12		)	(0.22	)	14		0.25		(9		)	(0.16	)
Non-U.S. commercial	(15		)	(0.08	)	17		0.12		9			0.06		7		0.06		(5		)	(0.04	)
	113			0.14		129		0.16		143			0.19		192		0.26		184			0.25
U.S. small business commercial	102			3.33		122		3.86		209			6.59		183		5.74		185			5.63
Total commercial	215			0.25		251		0.30		352			0.45		375		0.49		369			0.48
Total net charge-offs	$	2,517		1.14		$	3,104	1.40		$	4,122		1.86		$	3,626	1.64		$	4,056		1.80

By Business Segment
Consumer & Business Banking	$	1,196		3.74	%	$	1,284	3.89	%	$	1,499		4.49	%	$	1,669	4.95	%	$	1,766		5.06	%
Consumer Real Estate Services	660			2.91		732		3.05		1,567			6.15		845		3.25		915			3.43
Global Banking	113			0.17		230		0.35		116			0.18		159		0.25		165			0.26
Global Markets	2			0.01		1		0.01		—			—		—		—		13			0.18
Global Wealth & Investment Management	61			0.23		91		0.35		97			0.38		88		0.36		94			0.38
All Other	485			0.80		766		1.23		843			1.31		865		1.32		1,103			1.64
Total net charge-offs	$	2,517		1.14		$	3,104	1.40		$	4,122		1.86		$	3,626	1.64		$	4,056		1.80

⁽¹⁾

Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 1.18, 1.44, 1.93, 1.69 and 1.87 for the three months ended March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012, respectively.

⁽²⁾

Excludes write-offs of purchased credit-impaired loans of $839 million, $1.1 billion and $1.7 billion for the three months ended March 31, 2013, December 31, 2012 and September 30, 2012, respectively. There were no write-offs of purchased credit-impaired loans at June 30, 2012 and March 31, 2012. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 1.52, 1.90 and 2.63 for the three months ended March 31, 2013, December 31, 2012 and September 30, 2012, respectively.

⁽³⁾

During the three months ended September 30, 2012, the Corporation changed the treatment of loans discharged in Chapter 7 bankruptcy to write down these loans to collateral value irrespective of the borrower's payment status. As a result of the completion of implementation, the Corporation charged off $73 million and $478 million of current or less than 60 days delinquent loans for the three months ended December 31, 2012 and September 30, 2012.


⁽⁴⁾	Includes $435 million of charge-offs incurred during the three months ended September 30, 2012 as a result of National Mortgage Settlement activities.


⁽⁵⁾	Excludes U.S. small business commercial loans.

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



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



Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	March 31, 2013						December 31, 2012						March 31, 2012
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾		Amount		Percent of Total		Percent of Loans and Leases Outstanding ⁽¹⁾
Residential mortgage	$	6,731	29.99	%	2.62	%	$	7,088	29.31	%	2.80	%	$	8,272	25.68	%	3.10	%
Home equity	6,707		29.89		6.50		7,845		32.45		7.26		12,701		39.43		10.48
U.S. credit card	4,506		20.08		5.00		4,718		19.51		4.97		5,680		17.63		5.89
Non-U.S. credit card	572		2.55		5.38		600		2.48		5.13		828		2.57		5.95
Direct/Indirect consumer	690		3.08		0.85		718		2.97		0.86		1,001		3.11		1.16
Other consumer	106		0.47		6.24		104		0.43		6.40		155		0.48		5.96
Total consumer	19,312		86.06		3.55		21,073		87.15		3.81		28,637		88.90		4.88
U.S. commercial ⁽²⁾	1,866		8.31		0.87		1,885		7.80		0.90		2,098		6.51		1.08
Commercial real estate	815		3.63		2.09		846		3.50		2.19		1,166		3.62		3.06
Commercial lease financing	85		0.38		0.36		78		0.32		0.33		79		0.25		0.37
Non-U.S. commercial	363		1.62		0.44		297		1.23		0.40		231		0.72		0.44
Total commercial ⁽³⁾	3,129		13.94		0.87		3,106		12.85		0.90		3,574		11.10		1.17
Allowance for loan and lease losses	22,441		100.00	%	2.49		24,179		100.00	%	2.69		32,211		100.00	%	3.61
Reserve for unfunded lending commitments	486						513						651
Allowance for credit losses	$	22,927					$	24,692					$	32,862

Asset Quality Indicators

Allowance for loan and lease losses/Total loans and leases ⁽⁴⁾			2.49	%					2.69	%					3.61	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) ^{(4, 5)}			2.06						2.14						2.70
Allowance for loan and lease losses/Total nonperforming loans and leases⁽⁶⁾			102						107						126
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases ⁽⁵⁾			82						82						91
Ratio of the allowance for loan and lease losses/Annualized net charge-offs ⁽⁷⁾			2.20						1.96						1.97
Ratio of the allowance for loan and lease losses (excluding purchased credit-impaired loans)/Annualized net charge-offs ⁽⁵⁾			1.76						1.51						1.43
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs ⁽⁸⁾			1.65						1.44						1.97

⁽¹⁾

Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option included residential mortgage loans of $1.0 billion, $1.0 billion and $2.2 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $2.1 billion, $2.3 billion and $2.2 billion and non-U.S. commercial loans of $5.7 billion, $5.7 billion and $4.8 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽²⁾	Includes allowance for loan and lease losses for U.S. small business commercial loans of $611 million, $642 million and $811 million at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽³⁾	Includes allowance for loan and lease losses for impaired commercial loans of $408 million, $475 million and $635 million at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽⁴⁾	Total loans and leases do not include loans accounted for under the fair value option of $8.8 billion, $9.0 billion and $9.2 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽⁵⁾	Excludes valuation allowance on purchased credit-impaired loans of $4.5 billion, $5.5 billion and $8.9 billion at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.

⁽⁶⁾

Allowance for loan and lease losses includes $10.7 billion, $12.0 billion and $17.0 billion allocated to products (primarily the Card Services portfolios within Consumer & Business Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at March 31, 2013, December 31, 2012 and March 31, 2012, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 53 percent, 54 percent and 60 percent at March 31, 2013, December 31, 2012 and March 31, 2012, respectively.


⁽⁷⁾	Net charge-offs exclude $839 million and $1.1 billion of write-offs in the purchased credit-impaired loan portfolio at March 31, 2013 and December 31, 2012. These write-offs decreased the purchased credit-impaired valuation allowance included as part of the allowance for loan and lease losses.


⁽⁸⁾	There were no write-offs of purchased credit-impaired loans at March 31, 2012.

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



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



Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

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

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

Effective January 1, 2013, on a prospective basis, the Corporation adjusted the amount of capital being allocated to its business segments. The adjustment reflects an enhancement to prior-year methodology (economic capital) which focused solely on internal risk-based economic capital models. The enhanced methodology (allocated capital) now also considers the effect of regulatory capital requirements and future business plans in addition to internal risk-based economic capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. The capital allocated to the Corporation's business segments is referred to as allocated capital, a non-GAAP financial measure. Allocated capital in the Corporation's business segments is subject to change over time.

See the tables below and on pages 42-44 for reconciliations of these non-GAAP financial measures with financial measures defined by GAAP for the three months ended March 31, 2013, December 31, 2012, September 30, 2012, June 30, 2012 and March 31, 2012. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.



	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis

Net interest income	$	10,664		$	10,324		$	9,938		$	9,548		$	10,846
Fully taxable-equivalent adjustment	211			231			229			234			207
Net interest income on a fully taxable-equivalent basis	$	10,875		$	10,555		$	10,167		$	9,782		$	11,053

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

Total revenue, net of interest expense	$	23,497		$	18,660		$	20,428		$	21,968		$	22,278
Fully taxable-equivalent adjustment	211			231			229			234			207
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	23,708		$	18,891		$	20,657		$	22,202		$	22,485

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

Income tax expense (benefit)	$	1,009		$	(2,636	)	$	770		$	684		$	66
Fully taxable-equivalent adjustment	211			231			229			234			207
Income tax expense (benefit) on a fully taxable-equivalent basis	$	1,220		$	(2,405	)	$	999		$	918		$	273

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

Common shareholders' equity	$	218,238		$	219,744		$	217,273		$	216,782		$	214,150
Goodwill	(69,945		)	(69,976		)	(69,976		)	(69,976		)	(69,967		)
Intangible assets (excluding mortgage servicing rights)	(6,549		)	(6,874		)	(7,194		)	(7,533		)	(7,869		)
Related deferred tax liabilities	2,425			2,490			2,556			2,626			2,700
Tangible common shareholders' equity	$	144,169		$	145,384		$	142,659		$	141,899		$	139,014

Reconciliation of average shareholders' equity to average tangible shareholders' equity

Shareholders' equity	$	237,008		$	238,512		$	236,039		$	235,558		$	232,566
Goodwill	(69,945		)	(69,976		)	(69,976		)	(69,976		)	(69,967		)
Intangible assets (excluding mortgage servicing rights)	(6,549		)	(6,874		)	(7,194		)	(7,533		)	(7,869		)
Related deferred tax liabilities	2,425			2,490			2,556			2,626			2,700
Tangible shareholders' equity	$	162,939		$	164,152		$	161,425		$	160,675		$	157,430

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



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



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity

Common shareholders' equity	$	219,653		$	218,188		$	219,838		$	217,213		$	213,711
Goodwill	(69,930		)	(69,976		)	(69,976		)	(69,976		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(6,379		)	(6,684		)	(7,030		)	(7,335		)	(7,696		)
Related deferred tax liabilities	2,363			2,428			2,494			2,559			2,628
Tangible common shareholders' equity	$	145,707		$	143,956		$	145,326		$	142,461		$	138,667

Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity

Shareholders' equity	$	238,433		$	236,956		$	238,606		$	235,975		$	232,499
Goodwill	(69,930		)	(69,976		)	(69,976		)	(69,976		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(6,379		)	(6,684		)	(7,030		)	(7,335		)	(7,696		)
Related deferred tax liabilities	2,363			2,428			2,494			2,559			2,628
Tangible shareholders' equity	$	164,487		$	162,724		$	164,094		$	161,223		$	157,455

Reconciliation of period-end assets to period-end tangible assets

Assets	$	2,174,611		$	2,209,974		$	2,166,162		$	2,160,854		$	2,181,449
Goodwill	(69,930		)	(69,976		)	(69,976		)	(69,976		)	(69,976		)
Intangible assets (excluding mortgage servicing rights)	(6,379		)	(6,684		)	(7,030		)	(7,335		)	(7,696		)
Related deferred tax liabilities	2,363			2,428			2,494			2,559			2,628
Tangible assets	$	2,100,665		$	2,135,742		$	2,091,650		$	2,086,102		$	2,106,405

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



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



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			Third Quarter 2012			Second Quarter 2012			First Quarter 2012
Reconciliation of return on average allocated capital/economic capital ⁽¹⁾

Consumer & Business Banking

Reported net income	$	1,382		$	1,421		$	1,275		$	1,146		$	1,445
Adjustment related to intangibles ⁽²⁾	2			3			3			4			3
Adjusted net income	$	1,384		$	1,424		$	1,278		$	1,150		$	1,448

Average allocated equity	$	58,388		$	54,131		$	53,918		$	53,387		$	52,890
Adjustment related to goodwill and a percentage of intangibles	(30,388		)	(30,418		)	(30,448		)	(30,484		)	(30,522		)
Average allocated capital/economic capital	$	28,000		$	23,713		$	23,470		$	22,903		$	22,368

Global Banking

Reported net income	$	1,338		$	1,409		$	1,221		$	1,379		$	1,573
Adjustment related to intangibles ⁽²⁾	1			1			1			1			1
Adjusted net income	$	1,339		$	1,410		$	1,222		$	1,380		$	1,574

Average allocated equity	$	49,828		$	44,815		$	45,288		$	45,229		$	45,060
Adjustment related to goodwill and a percentage of intangibles	(24,828		)	(24,849		)	(24,852		)	(24,856		)	(24,860		)
Average allocated capital/economic capital	$	25,000		$	19,966		$	20,436		$	20,373		$	20,200

Global Markets

Reported net income (loss)	$	1,358		$	183		$	(274	)	$	499		$	828
Adjustment related to intangibles ⁽²⁾	2			2			2			3			2
Adjusted net income (loss)	$	1,360		$	185		$	(272	)	$	502		$	830

Average allocated equity	$	34,645		$	18,836		$	18,070		$	17,929		$	19,032
Adjustment related to goodwill and a percentage of intangibles	(4,645		)	(4,648		)	(4,652		)	(4,609		)	(4,648		)
Average allocated capital/economic capital	$	30,000		$	14,188		$	13,418		$	13,320		$	14,384

Global Wealth & Investment Management

Reported net income	$	720		$	576		$	571		$	548		$	550
Adjustment related to intangibles ⁽²⁾	4			5			6			6			6
Adjusted net income	$	724		$	581		$	577		$	554		$	556

Average allocated equity	$	20,323		$	18,489		$	18,199		$	17,391		$	16,822
Adjustment related to goodwill and a percentage of intangibles	(10,323		)	(10,340		)	(10,359		)	(10,380		)	(10,402		)
Average allocated capital/economic capital	$	10,000		$	8,149		$	7,840		$	7,011		$	6,420

For footnotes see page 44.

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



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



Exhibit A: Non-GAAP Reconciliations (continued)

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	First Quarter 2013			Fourth Quarter 2012			First Quarter 2012
	First Quarter 2013			Fourth Quarter 2012			First Quarter 2012
Consumer & Business Banking

Deposits

Reported net income	$	398		$	322		$	403
Adjustment related to intangibles ⁽²⁾	—			—			—
Adjusted net income	$	398		$	322		$	403

Average allocated equity	$	35,407		$	33,479		$	32,219
Adjustment related to goodwill and a percentage of intangibles	(20,007		)	(20,013		)	(20,030		)
Average allocated capital/economic capital	$	15,400		$	13,466		$	12,189

Card Services

Reported net income	$	984		$	1,099		$	1,042
Adjustment related to intangibles ⁽²⁾	2			3			3
Adjusted net income	$	986		$	1,102		$	1,045

Average allocated equity	$	22,981		$	20,652		$	20,671
Adjustment related to goodwill and a percentage of intangibles	(10,381		)	(10,405		)	(10,492		)
Average allocated capital/economic capital	$	12,600		$	10,247		$	10,179


⁽¹⁾	There are no adjustments to reported net income (loss) or average allocated equity for Consumer Real Estate Services.


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

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



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