8-K

As filed with the Securities and Exchange Commission on January 19, 2012

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

January 19, 2012

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware	1-6523	56-0906609
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On January 19, 2012, Bank of America Corporation (the “Corporation”) announced financial results for the fourth quarter and year ended December 31, 2011, reporting fourth quarter net income of $2.0 billion, or $0.15 per diluted share, and for the year net income of $1.4 billion, or $0.01 per diluted share. A copy of the press release announcing the Corporation's results for the fourth quarter and year ended December 31, 2011 as well as certain earnings related slides for use in connection with an earnings investor conference call and webcast are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and incorporated by reference herein.

The information provided under Item 2.02 of this report, including Exhibit 99.1 and Exhibit 99.2, shall be deemed to be “filed” for purposes of the Securities Exchange Act of 1934, as amended.

ITEM 7.01. REGULATION FD DISCLOSURE.

On January 19, 2012, the Corporation will hold an investor conference call and webcast to disclose financial results for the fourth quarter and year ended December 31, 2011. The Supplemental Information package and earnings related slides for use during this conference call and webcast are furnished herewith as Exhibits 99.3 and 99.4, and incorporated by reference in this Item 7.01. All information in Exhibits 99.3 and 99.4 is presented as of the particular date or dates referenced therein, and the Corporation does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

The information in the preceding paragraph, as well as Exhibits 99.3 and 99.4 referenced therein, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall the information or Exhibits 99.3 and 99.4 be deemed incorporated by reference in any filings under the Securities Act of 1933, as amended.

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

Exhibits 99.1 and 99.2 are filed herewith. Exhibits 99.3 and 99.4 are furnished herewith.

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.2	Select earnings related slides for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.3	Supplemental Information for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.4	Earnings related slides for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the Corporation has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

BANK OF AMERICA CORPORATION
By:	/s/ Neil A. Cotty
	Neil A. Cotty
	Chief Accounting Officer

Dated: January 19, 2012

INDEX TO EXHIBITS

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.2	Select earnings related slides for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.3	Supplemental Information for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011
99.4	Earnings related slides for use on January 19, 2011 with respect to the Corporation’s financial results for the fourth quarter and year ended December 31, 2011

EX-99.1

January 19, 2012

Investors May Contact:

Kevin Stitt, Bank of America, 1.980.386.5667

Lee McEntire, Bank of America, 1.980.388.6780

Reporters May Contact:

Jerry Dubrowski, Bank of America, 1.980.388.2840

jerome.f.dubrowski@bankofamerica.com

Bank of America Reports Fourth-Quarter 2011 Net Income of $2.0 Billion, or $0.15 Per Diluted Share

Full-Year 2011 Net Income of $1.4 Billion, or $0.01 Per Diluted Share

Strong Capital Generation With Tier 1 Common Equity Ratio at 9.86 Percent

Global Excess Liquidity Sources Remain Strong at $378 Billion, up $42 Billion in 2011

Investment Bank Maintained No. 2 Global Ranking in Net Investment Banking Fees and Gained Market Share in 2011

Bank of America Merrill Lynch Named "Top Global Research Firm of 2011"

Total Average Commercial and Industrial Loan Balances Increased 13 Percent From the Fourth Quarter of 2010

Small Business Loan Originations and Commitments up Approximately 20 Percent in 2011, More Than 500 Small Business Bankers Hired in 2011

Global Wealth and Investment Management Adds Nearly 1,700 Financial Advisors in 2011

Extended Approximately $557 Billion in Credit and Raised $644 Billion in Capital for Clients During 2011

More Than 1 Million Mortgage Loan Modifications Completed Since 2008

CHARLOTTE — Bank of America Corporation today reported net income of $2.0 billion, or $0.15 per diluted share, for the fourth quarter of 2011, compared with a net loss of $1.2 billion, or $0.16 per diluted share in the year-ago period. Revenue, net of interest expense, on a fully taxable-equivalent (FTE)¹ basis rose 11 percent to $25.1 billion.

¹Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release. Total revenue, net of interest expense on a GAAP basis, was $24.9 billion and $22.4 billion for the three months ended December 31, 2011 and 2010, and $93.5 billion and $110.2 billion for the years ended December 31, 2011 and 2010.

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For the full year, the company reported net income of $1.4 billion, or $0.01 per diluted share, compared with a net loss of $2.2 billion, or $0.37 per diluted share in 2010. Revenue, net of interest expense, on an FTE basis¹ declined 15 percent to $94.4 billion.

"We enter 2012 stronger and more efficient after two years of simplifying and streamlining our company," said Chief Executive Officer Brian Moynihan. "We built our capital ratios to record levels during 2011 on the strength of our core businesses and by shedding those that are not core to serving customers and clients. I am proud of our team and their ability to serve our customers well while transforming the company."

“Our fourth-quarter results reflect the aggressive steps we have been taking to strengthen the balance sheet and position the company for long-term growth," said Chief Financial Officer Bruce Thompson. “During the quarter, we significantly increased capital and liquidity. Our Tier 1 common equity ratio increased to 9.86 percent from 8.65 percent in the third quarter of 2011, and our time-to-required funding increased to 29 months from 27 months. For 2012, our focus is to continue to build capital and liquidity and manage expenses."

“Reflecting a gradually improving economy,” continued Moynihan, "we saw solid business activity by companies of all sizes, with commercial and industrial loan balances rising 13 percent from the fourth quarter of 2010, and small business loan originations increasing approximately 20 percent in calendar year 2011."

Selected Financial Highlights

	Three Months Ended					Year Ended
(Dollars in millions except per share data)	December 31 2011		December 31 2010			December 31 2011		December 31 2010
Net interest income, FTE basis1	$	10,959	$	12,709		$	45,588	$	52,693
Noninterest income	14,187		9,959			48,838		58,697
Total revenue, net of interest expense, FTE basis	25,146		22,668			94,426		111,390
Provision for credit losses	2,934		5,129			13,410		28,435
Noninterest expense 2	18,941		18,864			77,090		70,708
Goodwill impairment charges	581		2,000			3,184		12,400
Net income (loss)	1,991		(1,244		)	1,446		(2,238		)
Diluted earnings (loss) per common share	$	0.15	$	(0.16	)	$	0.01	$	(0.37	)

¹Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release. Net interest income on a GAAP basis was $10.7 billion and $12.4 billion for the three months ended December 31, 2011 and 2010, and $44.6 billion and $51.5 billion for the years ended December 31, 2011 and 2010. Total revenue, net of interest expense on a GAAP basis, was $24.9 billion and $22.4 billion for the three months ended December 31, 2011 and 2010, and $93.5 billion and $110.2 billion for the years ended December 31, 2011 and 2010.

²Excludes goodwill impairment charges of $581 million and $2.0 billion in the three months ended December 31, 2011 and 2010, and $3.2 billion and $12.4 billion for the years ended December 31, 2011 and 2010. Noninterest expense, excluding goodwill charges, is a non-GAAP financial measure.

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The following is a list of selected items that affected fourth-quarter 2011 financial results.

Selected Fourth-Quarter 2011 Items1
(Dollars in billions)
Gain on sale of China Construction Bank shares	$	2.9
Gain on exchange of trust preferred securities	1.2
Gains on sales of debt securities	1.2
Representations and warranties provision	(0.3		)
Debit Valuation Adjustments (DVA) on trading liabilities	(0.5		)
Goodwill impairment	(0.6		)
Fair value adjustment on structured liabilities	(0.8		)
Mortgage-related litigation expense	(1.5		)

¹All items pretax.

Key Business Highlights

The company made significant progress in 2011 in line with its operating principles, including the following developments:

Focus on customer-driven businesses

• Bank of America extended approximately $557 billion in credit in 2011. This included $317.7 billion in commercial non-real estate loans, $151.8 billion in residential first mortgages, $36.5 billion in commercial real estate loans, $19.4 billion in U.S. consumer and small business card, $4.4 billion in home equity products and $27.5 billion in other consumer credit.

• The $151.8 billion in residential first mortgages funded in 2011 helped more than 695,000 homeowners either purchase a home or refinance an existing mortgage. This included approximately 47,000 first-time homebuyer mortgages originated by retail channels, and more than 237,000 mortgages to low- and moderate-income borrowers. Approximately 40 percent of funded first mortgages were for home purchases and 60 percent were refinances.

• The company originated $6.4 billion in small business loans and commitments in 2011 and hired more than 500 new small business bankers during the year to further support small business customers.

• The company raised $644 billion in capital for clients in 2011 to help support the economy.

• Average deposit balances rose nearly $25 billion to $1.03 trillion in the fourth quarter of 2011 from $1.01 trillion in the fourth quarter of 2010.

• Global Wealth and Investment Management added more than 200 Financial Advisors in the fourth quarter of 2011, bringing the total number of Financial Advisors added in 2011 to nearly 1,700.

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• Business activity with corporate banking clients continued to increase with average loans and leases up 29 percent from the fourth quarter of 2010 and average deposit balances up 10 percent from the fourth quarter of 2010.

• Bank of America Merrill Lynch maintained its No. 2 global ranking in net investment banking fees and increased its market share in 2011 to 7.4 percent from 6.8 percent in 2010, excluding self-led deals, as reported by Dealogic. Also, Bank of America Merrill Lynch was named "Top Global Research Firm of 2011" by Institutional Investor.

Building a fortress balance sheet

• Regulatory capital ratios increased significantly, with the Tier 1 common equity ratio increasing to 9.86 percent in the fourth quarter of 2011, up 121 basis points from the third quarter of 2011 and 126 basis points higher than the fourth quarter of 2010. The tangible common equity ratio² increased to 6.64 percent in the fourth quarter of 2011, up 39 basis points from the third quarter of 2011 and 65 basis points higher than the fourth quarter of 2010.

• The company substantially improved its funding position in 2011 by increasing overall liquidity and reducing debt. Global Excess Liquidity Sources increased to $378 billion at December 31, 2011, up from $363 billion at September 30, 2011 and $336 billion at December 31, 2010. Long-term debt declined to $372 billion at December 31, 2011 from $399 billion at September 30, 2011 and $448 billion at December 31, 2010.

• Time-to-required funding increased to 29 months at the end of 2011 from 27 months at September 30, 2011 and 24 months at December 31, 2010.

• In 2011, Bank of America generated $34 billion in proceeds from the sale of non-core assets and businesses, generating 79 basis points of Tier 1 common equity and reducing risk-weighted assets by $29 billion.

Pursuing operational excellence in efficiency and risk management

• The company continued to focus on strengthening its risk culture in 2011, driving accountability more deeply into the company, and simplifying the organization by selling non-core assets and businesses.

• The provision for credit losses declined 43 percent from the year-ago quarter, reflecting improved credit quality across all major consumer and commercial portfolios and underwriting changes implemented over the past several years.

² Tangible common equity ratio is a non-GAAP financial measure. For a reconciliation to GAAP financial measures, refer to pages 25-27 of this press release. The common equity ratio was 9.94 percent at December 31, 2011, 9.50 percent at September 30, 2011 and 9.35 percent at December 31, 2010.

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• The allowance for loan and lease losses to annualized net charge-off coverage ratio increased in the fourth quarter to 2.10 times, compared with 1.74 times in the third quarter of 2011 and 1.56 times in the fourth quarter of 2010. Excluding purchased credit-impaired loans, the allowance to annualized net charge-off coverage ratio was 1.57 times, 1.33 times and 1.32 times for the same periods, respectively.

• The company continued to prudently manage its sovereign and non-sovereign exposures in Europe. Total exposure to Greece, Italy, Ireland, Portugal, and Spain, excluding net credit default protection, declined to $14.4 billion at December 31, 2011, compared to $15.8 billion at December 31, 2010. Since the end of 2009, total exposure to these countries is down 44 percent.

• At December 31, 2011, the number of full-time employees was down to 281,791 from 288,739 at the end of the third quarter of 2011 and 288,128 at December 31, 2010.

• At the center of the company's pursuit of operational excellence is Project New BAC, a comprehensive two-phase initiative designed to simplify and streamline the company, align expenses and increase revenues. Phase 1 evaluations were completed in the third quarter of 2011. Phase 2 evaluations, which began in the fourth quarter of 2011, are expected to continue into early 2012 and cover the balance of businesses and operations that were not evaluated in Phase 1.

Delivering on the shareholder return model

• The company continued to focus on streamlining the balance sheet by selling non-core assets, addressing legacy issues, reducing debt and implementing its customer-focused strategy while focusing on reducing expenses to position the company for long-term growth.

• Tangible book value per share³ was $12.95 at December 31, 2011, compared to $12.98 at December 31, 2010. Book value per share was $20.09 at December 31, 2011, compared to $20.99 at December 31, 2010.

• The company took significant actions during the fourth quarter to strengthen the balance sheet. In aggregate, these actions increased the Tier 1 common equity ratio by 121 basis points from the third quarter of 2011.

³ Tangible book value per share is a non-GAAP financial measure. For a reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

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Continuing to address legacy issues

• Since 2008, more than 1 million modifications of first and second lien mortgages have been completed, of which 78 percent were completed using Bank of America proprietary programs, and the remainder were completed through the federal government's HAMP and 2MP programs.

• The mortgage servicing portfolio declined to $1.8 trillion at the end of 2011 from $1.9 trillion at the end of the third quarter of 2011 and $2.1 trillion at the end of 2010 as the company continued to reduce the size of this portfolio.

• The number of 60+ day delinquent first mortgage loans serviced by Legacy Asset Servicing declined to 1.1 million at the end of the fourth quarter of 2011 from 1.2 million at the end of the third quarter of 2011 and 1.4 million at the end of the fourth quarter of 2010.

• The company ended 2011 with $15.9 billion reserved to address potential representations and warranties mortgage repurchase claims, a significant increase from the year-ago liability of $5.4 billion.

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Business Segment Results

Deposits

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	3,080		$	3,003		$	12,689		$	13,562
Provision for credit losses	57			41			173			201
Noninterest expense	2,798			3,270			10,633			11,196
Net income (loss)	$	141		$	(200	)	$	1,192		$	1,362
Return on average equity	2.34		%	n/m			5.02		%	5.62		%
Return on average economic capital1	9.51		%	n/m			20.66		%	21.97		%
Average deposits	$	417,110		$	413,150		$	421,106		$	414,877
							At December 31, 2011			At December 31, 2010
Client brokerage assets							$	66,576		$	63,597

¹ Return on average economic capital is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

n/m = not meaningful

Business Highlights

• Average deposit balances increased $4.0 billion from the year-ago quarter, driven by growth in liquid products in a low-rate environment. The rates paid on deposits declined 12 basis points to 0.23 percent in the fourth quarter of 2011 from 0.35 percent in the year-ago quarter due to pricing discipline and a shift in the mix of deposits.

• The number of mobile banking customers continued to grow in 2011, with total mobile banking customers increasing 45 percent from a year ago to 9.2 million customers.

Financial Overview

Deposits reported net income of $141 million, up $341 million from the year-ago quarter, largely due to lower noninterest expense and higher revenue.

Revenue of $3.1 billion was up $77 million from the year-ago quarter, driven by higher noninterest income. Net interest income of $2.0 billion was relatively flat from the year-ago quarter.

Noninterest expense was down $472 million from the year-ago quarter to $2.8 billion primarily due to litigation expense in the year-ago quarter and a decrease in operating expenses partially offset by elevated FDIC expense.

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Card Services

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	4,060		$	5,357		$	18,143		$	22,340
Provision for credit losses	1,138			1,846			3,072			10,962
Noninterest expense1	1,393			1,463			6,024			16,357
Net income (loss)	$	1,022		$	1,289		$	5,788		$	(6,980	)
Return on average equity	19.69		%	21.74		%	27.40		%	n/m
Return on average economic capital 2	40.48		%	40.28		%	55.08		%	23.62		%
Average loans	$	121,124		$	136,738		$	126,084		$	145,081
							At December 31, 2011			At December 31, 2010
Period-end loans							$	120,669		$	137,024

¹ Includes a goodwill impairment charge of $10.4 billion in the third quarter of 2010.

² Return on average economic capital is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

n/m = not meaningful

Business Highlights

• New U.S. credit card accounts grew 53 percent in the fourth quarter of 2011 as compared to the year-ago quarter.

• Credit quality continued to improve with the 30+ day delinquency rate declining for the 11th consecutive quarter.

• Return on average equity remained strong at 19.69 percent in the fourth quarter of 2011.

Financial Overview

Card Services reportednet income of $1.0 billion, compared to $1.3 billion in the year-ago quarter. The decrease in net income is due to lower revenue, partially offset by lower credit costs.

Revenue declined 24 percent to $4.1 billion from the year-ago quarter, driven by a decrease in net interest income of $647 million from lower average loans and yields. Also contributing to the decline in revenue was lower noninterest income due to the implementation of new interchange fee rules in the fourth quarter of 2011 as a result of the Durbin Amendment, which reduced revenue by $430 million. Average loans declined $15.6 billion from the year-ago quarter due to higher payment volumes, charge-offs, continued non-core portfolio runoff and divestitures.

Provision for credit losses decreased $708 million from the year-ago quarter to $1.1 billion, reflecting improving delinquencies and collections, and fewer bankruptcies as a result of improving economic conditions and lower loan balances.

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Global Wealth and Investment Management

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	4,164		$	4,161		$	17,376		$	16,289
Provision for credit losses	118			155			398			646
Noninterest expense	3,649			3,489			14,395			13,227
Net income	$	249		$	319		$	1,635		$	1,340
Return on average equity	5.54		%	6.94		%	9.19		%	7.42		%
Return on average economic capital1	14.13		%	17.97		%	23.44		%	19.57		%
Average loans	$	102,708		$	100,306		$	102,143		$	99,269
Average deposits	249,814			246,281			254,777			232,318
(in billions)							At December 31, 2011			At December 31, 2010
Assets under management							$	647.1		$	643.3
Total client balances 2							2,135.8			2,181.3

¹ Return on average economic capital is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

² Total client balances are defined as assets under management, assets in custody, client brokerage assets, client deposits and loans.

Business Highlights

• Asset management fees increased 4 percent from the year-ago quarter to $1.5 billion, driven by strong long-term assets under management flows of $27 billion in 2011, compared to $14 billion in 2010.

• Full-year average deposit balances increased 10 percent from 2010 to $254.8 billion, and full-year average loan balances grew 3 percent to $102.1 billion.

Financial Overview

Global Wealth and Investment Management net income decreased 22 percent from the year-ago quarter. Revenue was flat compared to the year-ago quarter at $4.2 billion as higher net interest income and asset management fees were offset by lower transactional activity.

The provision for credit losses decreased $37 million from the year-ago quarter, reflecting fewer delinquencies and improving portfolio trends within the consumer real estate portfolios, partially offset by increased reserves in the commercial portfolio.

Noninterest expense increased 5 percent from the year-ago quarter to $3.6 billion, due primarily to higher personnel costs associated with the continued build-out of the business, and certain expenses in the fourth quarter of 2011, including elevated FDIC expense, litigation and other related losses and severance costs. These were partially offset by lower revenue-related compensation.

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Consumer Real Estate Services

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	3,276		$	480		$	(3,154	)	$	10,329
Provision for credit losses	1,001			1,198			4,524			8,490
Noninterest expense1	4,596			5,980			21,893			14,886
Net loss	$	(1,459	)	$	(4,937	)	$	(19,529	)	$	(8,947	)
Average loans	116,993			124,933			119,820			129,234
							At December 31, 2011			At December 31, 2010
Period-end loans							$	112,359		$	122,933

¹ Includes goodwill impairment charges of $2.6 billion in the second quarter of 2011 and $2.0 billion in the fourth quarter of 2010.

Business Highlights

• The company funded $22.4 billion in residential home loans and home equity loans during the fourth quarter of 2011.

• The company continued to make progress on legacy issues. The mortgage servicing portfolio declined to $1.8 trillion at the end of 2011 from $1.9 trillion at the end of the third quarter of 2011 and $2.1 trillion at the end of fourth quarter of 2010. The number of 60+ day delinquent first mortgage loans serviced by Legacy Asset Servicing declined to 1.1 million at the end of the fourth quarter of 2011 from 1.2 million at the end of the third quarter of 2011 and 1.4 million at the end of the fourth quarter of 2010.

Financial Overview

Consumer Real Estate Services reported a net loss of $1.5 billion for the fourth quarter of 2011, compared to a net loss of $4.9 billion for the same period in 2010. Revenue increased from $480 million in the fourth quarter of 2010 to $3.3 billion.

The increase in revenue was primarily driven by a $3.9 billion decrease in representations and warranties provision and a $908 million increase in MSR results, net of hedge, partially offset by a $1.1 billion decline in core production income and lower insurance income due to the sale of Balboa Insurance during the second quarter of 2011. The decrease in core production income was due to a 74 percent decline in new loan originations caused primarily by the exit from the correspondent lending channel and a decrease in retail market share.

Representations and warranties provision was $263 million in the fourth quarter of 2011, compared to $4.1 billion in the fourth quarter of 2010 which included the impact of the settlement agreements with the GSEs.

Provision for credit losses in the fourth quarter of 2011 decreased $197 million from the year-ago quarter to $1.0 billion, reflecting improving delinquencies.

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Noninterest expense, excluding a goodwill impairment chargeof $2.0 billion in the fourth quarter of 2010, increased 15 percent to $4.6 billion. The increase reflected higher litigation expense of $1.5 billion in the fourth quarter of 2011, compared to $632 million in the same period in 2010, as well as higher default-related and other loss mitigation expenses. This was partially offset by lower production and insurance expenses and lower mortgage-related assessments and waivers costs associated with foreclosure delays.

Global Commercial Banking

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	2,556		$	2,614		$	10,553		$	11,226
Provision for credit losses	(146		)	(136		)	(634		)	1,979
Noninterest expense	1,039			1,061			4,234			4,130
Net income	$	1,048		$	1,053		$	4,402		$	3,218
Return on average equity	10.22		%	9.72		%	10.77		%	7.38		%
Return on average economic capital1	20.78		%	18.75		%	21.83		%	14.07		%
Average loans and leases	$	187,905		$	195,293		$	189,415		$	203,824
Average deposits	176,010			156,672			169,192			148,638

¹ Return on average economic capital is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

Business Highlights

• Average commercial and industrial loans grew $4 billion, or 4 percent, from the year-ago quarter driven by middle-market clients.

• Credit quality continued to improve as nonperforming assets declined by $3.1 billion, or 35 percent, and total reservable criticized loans declined by $12.6 billion, or 38 percent, versus the year-ago quarter.

Financial Overview

Global Commercial Bankingreported net incomeof $1.0 billion, flat from the year-ago quarter, reflecting a reduction in revenue, partially offset by lower credit costs from improved asset quality. Revenue was $2.6 billion, down 2 percent from the year-ago quarter, primarily due to lower loan balances. Noninterest expense was $1.0 billion, down 2 percent from the year-ago quarter as the business tightly managed costs.

The provision for credit losses was relatively flat compared to the year-ago quarter with a benefit of $146 million.

Average deposit balances continued to grow, increasing by $19.3 billion from the year-ago quarter, as clients continued to maintain higher levels of liquidity. Average commercial and industrial loan balances continued to show modest growth, increasing 4 percent from a year ago. However, total average loans and leases decreased $7.4 billion primarily due to reductions in the reservable criticized loans in the commercial real estate banking portfolio.

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Global Banking and Markets

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Total revenue, net of interest expense, FTE basis	$	3,722		$	5,364		$	23,618		$	27,949
Provision for credit losses	(27		)	(112		)	(296		)	(166		)
Noninterest expense	4,287			4,321			18,179			17,535
Net income (loss)	$	(433	)	$	669		$	2,967		$	6,297
Return on average equity	n/m			5.65		%	7.97		%	12.58		%
Return on average economic capital1	n/m			7.28		%	11.22		%	15.82		%
Total average assets	$	694,727		$	733,732		$	725,177		$	753,844
Total average deposits	115,267			104,655			116,088			97,858

¹ Return on average economic capital is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

n/m = not meaningful

Business Highlights

• Average loan and lease balances and average deposit balances increased 30 percent and 10 percent versus the year-ago quarter, primarily driven by strong growth across all regions.

• Bank of America Merrill Lynch maintained its No. 2 global ranking in net investment banking fees and increased its market share in 2011 to 7.4 percent from 6.8 percent in 2010, excluding self-led deals, as reported by Dealogic. Also, Bank of America Merrill Lynch was named "Top Global Research Firm of 2011" by Institutional Investor.

Financial Overview

Global Banking and Markets reported a net loss of $433 million, compared to net income of $669 million in the year-ago quarter. Revenue declined 31 percent to $3.7 billion, primarily driven by lower sales and trading revenue and investment banking fees.

Noninterest expense of $4.3 billion was relatively flat compared to the year-ago quarter.

Provision for credit losses increased by $85 million from the year-ago quarter to a lower benefit of $27 million. This was due to reduced reserves and the impact from loan growth in the current period.

Sales and trading revenue was $1.4 billion in the fourth quarter of 2011, a decrease of 44 percent from the prior-year quarter. The current quarter includes DVA losses of $474 million as the company's credit spreads tightened at the end of this year, compared to gains of $1.7 billion in the third quarter of 2011 and gains of $31 million in the year-ago period. Excluding the impact of DVA, sales and trading revenue was $1.9 billion in the fourth quarter of 2011, compared to $1.1 billion in the third quarter of 2011 and $2.4 billion in the fourth quarter of 2010.

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Fixed Income, Currency and Commodities sales and trading revenue, excluding DVA losses, was $1.2 billion, a decrease of $416 million compared to the prior-year quarter due to a challenging trading environment as markets remain volatile reflecting ongoing concerns over the Eurozone sovereign debt crisis, economic activity, and political uncertainty. Equities sales and trading revenue was $660 million, a decrease of $127 million from the year-ago quarter, primarily driven by lower volumes and commission related revenue.

Firmwide investment banking fees, including self-led deals, declined to $1.1 billion from $1.7 billion in the fourth quarter of 2010, mainly due to challenging market conditions during the second half of 2011 following the U.S. debt downgrade and Eurozone crisis. Twenty-three percent of investment banking fees were originated outside of the Americas, compared to 18 percent for the same period last year. Total investment banking fees, excluding self-led deals, were down 36 percent from the year-ago quarter.

Corporate Bank revenues of $1.3 billion continued to remain strong as average loans and leases increased 29 percent from the year-ago quarter to $107.5 billion with growth in both domestic and international commercial loans and international trade finance. Average deposits within the Corporate Bank increased 10 percent from the fourth quarter of 2010 to $107.1 billion as balances continued to grow from excess market liquidity and limited alternative investment options.

All Other ¹ 

	Three Months Ended				Year Ended
(Dollars in millions)	December 31 2011		December 31 2010		December 31 2011		December 31 2010
Total revenue, net of interest expense, FTE basis	$	4,288	$	1,689	$	15,201	$	9,695
Provision for credit losses	793		2,137		6,173		6,323
Noninterest expense	1,760		1,280		4,916		5,777
Net income	$	1,423	$	563	$	4,991	$	1,472
Total average loans	272,807		282,125		283,890		281,642

¹ All Other consists primarily of equity investments, the residential mortgage portfolio associated with ALM activities, the residual impact of the cost allocation process, merger and restructuring charges, intersegment eliminations, fair value adjustments related to structured liabilities and the results of certain consumer finance, investment management and commercial lending businesses that are being liquidated.

All Other reported net income of $1.4 billion in the fourth quarter of 2011, compared to net income of $563 million for the same period a year ago, due to higher revenue and lower provision for credit losses, partially offset by higher noninterest expense. Revenue increased$2.6 billion due primarily to higher equity investment income, a gain of $1.2 billion in connection with the exchange of trust preferred securities for common stock and senior debt and $814 million of negative fair value adjustments on structured liabilities compared to negative fair value adjustments of $1.2 billion in the year-ago quarter.

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Equity investment income was $1.6 billion higher as the current quarter included the gain on the sale of a majority of the company's investment in China Construction Bank (CCB). The increase in noninterest expense was primarily related to a goodwill impairment charge of $581 million during the fourth quarter of 2011 as a result of a change in the estimated value of the European consumer card businesses.

Provision for credit losses decreased $1.3 billion to $793 million, driven primarily by lower reserve additions to the Countrywide purchased credit-impaired discontinued real estate and residential mortgage portfolios, recoveries on the sale of previously charged-off U.K. credit card loans and improvement in portfolio trends in residential mortgage.

Corporate Overview

Revenue and Expense

	Three Months Ended					Year Ended
(Dollars in millions)	December 31 2011		December 31 2010			December 31 2011		December 31 2010
Net interest income, FTE basis1	$	10,959	$	12,709		$	45,588	$	52,693
Noninterest income	14,187		9,959			48,838		58,697
Total revenue, net of interest expense, FTE basis	$	25,146	$	22,668		$	94,426	$	111,390
Noninterest expense2	$	18,941	$	18,864		$	77,090	$	70,708
Goodwill impairment charges	581		2,000			3,184		12,400
Net income (loss)	$	1,991	$	(1,244	)	$	1,446	$	(2,238	)

¹ Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release. Net interest income on a GAAP basis was $10.7 billion and $12.4 billion for the three months ended December 31, 2011 and 2010 and $44.6 billion and $51.5 billion for the years ended December 31, 2011 and 2010. Total revenue, net of interest expense on a GAAP basis was $24.9 billion and $22.4 billion for the three months ended December 31, 2011 and 2010, and $93.5 billion and $110.2 billion for the years ended December 31, 2011 and 2010.

² Excludes goodwill impairment charges of $581 million and $2.0 billion in the fourth quarters of 2011 and 2010, and $3.2 billion and $12.4 billion for the years ended December 31, 2011 and 2010, respectively. Noninterest expense, excluding goodwill impairment charges, is a non-GAAP financial measure.

Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis rose 11 percent from the fourth quarter of 2010, reflecting higher noninterest income partially offset by lower net interest income.

Net interest income on an FTE basis decreased 14 percent from the year-ago quarter. The net interest yield fell 24 basis points from the year-ago quarter, driven by lower investment security yields along with reductions in consumer loan balances and yields.

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Noninterest income increased $4.2 billion from the year-ago quarter largely due to higher mortgage banking income, equity investment income and other income, partially offset by lower trading account profits and card income. Mortgage banking income increased due to significantly lower representations and warranties provision as compared to the year-ago quarter. Equity investment income was higher as the current quarter included the $2.9 billion gain on sale of a majority of the company's investment in CCB and the increase in other income was primarily related to a $1.2 billion gain recorded during the current quarter from the exchange of trust preferred securities for common stock and senior debt. Trading account profits declined due to a challenging trading environment, and card income was lower due to the impact of implementation of the Durbin Amendment in the fourth quarter of 2011 compared to the fourth quarter of 2010.

Noninterest expense decreased $1.3 billion, or 6 percent from the year-ago quarter, to $19.5 billion primarily due to a goodwill impairment charge of $581 million, compared to $2.0 billion in the year-ago quarter, partially offset by elevated FDIC expense and higher litigation expense in the fourth quarter of 2011. Excluding the goodwill impairment charges, noninterest expense was relatively flat compared to the year-ago quarter.

The tax provision for the fourth quarter of 2011 was $441 million, resulting in an 18.13 percent effective tax rate. The effective tax rate during the quarter included tax benefits from net reductions in a deferred tax asset valuation allowance and tax reserves. Partially offsetting these benefits was the impact of the non-deductible goodwill impairment charge.

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Credit Quality

	Three Months Ended						Year Ended
(Dollars in millions)	December 31 2011			December 31 2010			December 31 2011			December 31 2010
Provision for credit losses	$	2,934		$	5,129		$	13,410		$	28,435
Net charge-offs	4,054			6,783			20,833			34,334
Net charge-off ratio1	1.74		%	2.87		%	2.24		%	3.60		%
							At December 31, 2011			At December 31, 2010
Nonperforming loans, leases and foreclosed properties							$	27,708		$	32,664
Nonperforming loans, leases and foreclosed properties ratio2							3.01		%	3.48		%
Allowance for loan and lease losses							$	33,783		$	41,885
Allowance for loan and lease losses ratio3							3.68		%	4.47		%

¹ Net charge-off/loss ratios are calculated as net charge-offs divided by average outstanding loans and leases during the period; quarterly results are annualized.

² Nonperforming loans, leases and foreclosed properties ratios are calculated as nonperforming loans, leases and foreclosed properties divided by outstanding loans, leases and foreclosed properties at the end of the period.

³ Allowance for loan and lease losses ratios are calculated as allowance for loan and lease losses divided by loans and leases outstanding at the end of the period.

Note: Ratios do not include loans measured under the fair value option.

Credit quality continued to improve in the fourth quarter, with net charge-offs declining across all major portfolios, compared to the fourth quarter of 2010. Provision for credit losses decreased significantly from a year ago. Additionally, 30+ day performing delinquent loans, excluding Federal Housing Administration-insured loans and long-term standby agreements, declined across all major portfolios, and reservable criticized balances also continued to decline, down 36 percent from the year-ago period.

Net charge-offs declined to $4.1 billion in the fourth quarter of 2011 from $5.1 billion in the third quarter of 2011 and $6.8 billion in the fourth quarter of 2010, reflecting improvement in all major consumer and commercial portfolios. The decrease was primarily driven by fewer delinquent loans, improved collection rates and lower bankruptcy filings across the Card Services loan portfolio, as well as lower net charge-offs in the home equity portfolio, driven by fewer delinquent loans, and recoveries from the sale of previously charged-off U.K. credit card loans.

The provision for credit losses declined to $2.9 billion in the fourth quarter of 2011 from $3.4 billion in the third quarter of 2011 and $5.1 billion in the fourth quarter of 2010. Results for the fourth quarter of 2011 included reserve reductions of $1.1 billion driven primarily by projected improvement in delinquencies, collections and bankruptcies across the Card Services portfolios and by improvement in economic conditions impacting the core commercial portfolio, as evidenced by continued declines in reservable criticized and nonperforming balances.

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The allowance for loan and lease losses to annualized net charge-off coverage ratio increased in the fourth quarter of 2011 to 2.10 times, compared with 1.74 times in the third quarter of 2011 and 1.56 times in the fourth quarter of 2010. Excluding purchased credit-impaired loans, the allowance to annualized net charge-off coverage ratio was 1.57 times, 1.33 times and 1.32 times for the same periods, respectively.

Nonperforming loans, leases and foreclosed properties were $27.7 billion at December 31, 2011, down from $29.1 billion at September 30, 2011, and $32.7 billion at December 31, 2010.

Capital and Liquidity Management

(Dollars in millions, except per share information)	At December 31 2011			At September 30 2011			At December 31 2010
Total shareholders’ equity	$	230,101		$	230,252		$	228,248
Tier 1 common equity	126,690			117,658			125,139
Tier 1 common equity ratio	9.86		%	8.65		%	8.60		%
Tangible common equity ratio1	6.64			6.25			5.99
Common equity ratio	9.94			9.50			9.35
Tangible book value per share1	$	12.95		$	13.22		$	12.98
Book value per share	20.09			20.80			20.99

¹ Tangible common equity ratio and tangible book value per share are non-GAAP financial measures. For reconciliation to GAAP financial measures, refer to pages 25-27 of this press release.

Regulatory capital ratios increased significantly during the fourth quarter, compared to the prior quarter and the fourth quarter of 2010, with the Tier 1 common equity ratio at 9.86 percent, and the Tangible common equity ratio at 6.64 percent. This compares with a Tier 1 common equity ratio of 8.65 percent at September 30, 2011 and 8.60 percent at December 31, 2010, and a Tangible common equity ratio of 6.25 percent at September 30, 2011 and 5.99 percent at December 31, 2010.

Significant capital actions taken during the quarter that contributed to these increases were the exchange of preferred and trust preferred securities for 400 million shares of common stock and $2.3 billion of senior debt, the sale of CCB shares and the sale of the Canadian consumer card business. Capital planning for 2012 includes the consideration of issuing approximately $1 billion of immediately tradable shares of common stock to certain employees in February 2012 in lieu of a portion of their 2011 year-end cash incentive.

The company's total Global Excess Liquidity Sources increased approximately $42 billion from the end of the fourth quarter of 2010 to $378 billion at December 31, 2011. Time-to-required funding increased to 29 months at the end of 2011 from 27 months at September 30, 2011 and 24 months at December 31, 2010.

During the fourth quarter of 2011, a cash dividend of $0.01 per common share was paid and the company recorded $407 million in preferred dividends. Period-end common shares issued and outstanding were 10.54 billion and 10.09 billion for the fourth quarter of 2011 and 2010, reflecting the issuance of 400 million common shares in the exchanges of preferred and trust preferred securities for common stock and senior debt.

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Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Bruce Thompson will discuss fourth-quarter 2011 results in a conference call at 8:30 a.m. ET today. The presentation and supporting materials can be accessed on the Bank of America Investor Relations Web site at http://investor.bankofamerica.com. For a listen-only connection to the conference call, dial 1.877.200.4456(U.S.) or 1.785.424.1733 (international) and the conference ID: 79795.

Bank of America

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 57 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world's leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “estimates,” “intends,” “plans,” “goals,” “believes” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” The forward-looking statements made represent Bank of America's current expectations, plans or forecasts of its future results and revenues, the company's continued reduction in the size of its mortgage servicing portfolio; the implementation and completion of, and expected impact from, Project New BAC, including estimated expense reductions and the expected continuation of Phase 2 into early 2012 to cover the balance of businesses and operations not evaluated in Phase 1; projected improvement in delinquencies;that Bank of America's focus in 2012 is to continue to build capital and liquidity and to manage expenses; the consideration of issuing approximately $1 billion of immediately tradable shares of common stock to certain employees in February 2012 in lieu of a portion of their 2011 year-end cash incentive; Bank of America's focus on retail distribution for mortgage products and services following the exit of the Home Loans correspondent mortgage lending channel; the substantial completion of the non-core asset sales; the actions taken to position the company for long-term growth; and other similar matters. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

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Page 19

You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks, as well as those more fully discussed under Item 1A. “Risk Factors” of Bank of America's 2010 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011, and in any of Bank of America's subsequent SEC filings: the company's ability to implement, manage and realize the anticipated benefits and expense savings from Project New BAC; the company's timing and determinations regarding any potential revised comprehensive capital plan submission and the Federal Reserve Board's response; the impact and ultimate resolution of the private-label securitization settlement (the settlement) with The Bank of New York Mellon (BNY Mellon) and of any additional claims not addressed by the BNY Mellon settlement or other prior settlement agreements; the company's ability to resolve any representations and warranties claims from GSEs, monolines and private investors; increased repurchase claims and repurchases due to mortgage insurance cancellations, rescissions and denials; the company's failure to satisfy its obligations as servicer in the residential mortgage securitization process; the foreclosure review and assessment process, the effectiveness of the company's response to such process and any governmental or private third-party claims asserted in connection with these foreclosure matters; the ability to achieve resolution in negotiations with law enforcement authorities and federal agencies, including the U.S. Department of Justice and the U.S. Department of Housing and Urban Development, involving mortgage servicing practices, including the timing and any settlement terms; the company's mortgage modification policies, loss mitigation strategies and related results; and any measures or steps taken by federal regulators or other governmental authorities with regard to mortgage loans, servicing agreements and standards, or other matters; the risk of any additional credit ratings downgrades of the U.S. government; the company's credit ratings and the credit ratings of its securitizations, including the risk that the company or its securities will be the subject of additional or further credit ratings downgrades; the impact resulting from international and domestic sovereign credit uncertainties, including the current challenges facing European economies; the level and volatility of the capital markets, interest rates, currency values and other market indices; changes in consumer, investor and counterparty confidence in, and the related impact on, financial markets and institutions, including the company as well as its business partners; legislative and regulatory actions in the U.S. and internationally, including the identification and effectiveness of any initiatives to mitigate the negative impacts; the impact of litigation and regulatory investigations, including costs, expenses, settlements and judgments as well as any collateral effects on its ability to do business and access the capital markets; negative economic conditions generally including continued weakness in the U.S. housing market, high unemployment in the U.S., as well as economic challenges in many non-U.S. countries in which we operate; various monetary, tax and fiscal policies of the U.S. and non-U.S. governments.

Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made.

BofA Global Capital Management Group, LLC (“BofA Global Capital Management”) is an asset management division of Bank of America Corporation. BofA Global Capital Management entities furnish investment management services and products for institutional and individual investors. 

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Bank of America Merrill Lynch is the marketing name for the global banking and global markets businesses of Bank of America Corporation. Lending, derivatives, and other commercial banking activities are performed by banking affiliates of Bank of America Corporation, including Bank of America, N.A., member FDIC. Securities, financial advisory, and other investment banking activities are performed by investment banking affiliates of Bank of America Corporation (“Investment Banking Affiliates”), including Merrill Lynch, Pierce, Fenner & Smith Incorporated, which are registered broker-dealers and members of FINRA and SIPC. Investment products offered by Investment Banking Affiliates: Are Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. Bank of America Corporation's broker-dealers are not banks and are separate legal entities from their bank affiliates. The obligations of the broker-dealers are not obligations of their bank affiliates (unless explicitly stated otherwise), and these bank affiliates are not responsible for securities sold, offered or recommended by the broker-dealers. The foregoing also applies to other non-bank affiliates.

For more Bank of America news, visit the Bank of America newsroom at http://mediaroom.bankofamerica.com.

www.bankofamerica.com

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Bank of America Corporation and Subsidiaries
Selected Financial Data
(Dollars in millions, except per share data; shares in thousands)
Summary Income Statement	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income	$	44,616		$	51,523		$	10,701		$	10,490		$	12,439
Noninterest income	48,838			58,697			14,187			17,963			9,959
Total revenue, net of interest expense	93,454			110,220			24,888			28,453			22,398
Provision for credit losses	13,410			28,435			2,934			3,407			5,129
Goodwill impairment	3,184			12,400			581			—			2,000
Merger and restructuring charges	638			1,820			101			176			370
All other noninterest expense (1)	76,452			68,888			18,840			17,437			18,494
Income (loss) before income taxes	(230		)	(1,323		)	2,432			7,433			(3,595		)
Income tax expense (benefit)	(1,676		)	915			441			1,201			(2,351		)
Net income (loss)	$	1,446		$	(2,238	)	$	1,991		$	6,232		$	(1,244	)
Preferred stock dividends	1,361			1,357			407			343			321
Net income (loss) applicable to common shareholders	$	85		$	(3,595	)	$	1,584		$	5,889		$	(1,565	)
Earnings (loss) per common share	$	0.01		$	(0.37	)	$	0.15		$	0.58		$	(0.16	)
Diluted earnings (loss) per common share	0.01			(0.37		)	0.15			0.56			(0.16		)
Summary Average Balance Sheet	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Total loans and leases	$	938,096		$	958,331		$	932,898		$	942,032		$	940,614
Debt securities	337,120			323,946			332,990			344,327			341,867
Total earning assets	1,834,659			1,897,573			1,783,986			1,841,135			1,883,539
Total assets	2,296,322			2,439,606			2,207,567			2,301,454			2,370,258
Total deposits	1,035,802			988,586			1,032,531			1,051,320			1,007,738
Common shareholders’ equity	211,709			212,686			209,324			204,928			218,728
Total shareholders’ equity	229,095			233,235			228,235			222,410			235,525
Performance Ratios	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Return on average assets	0.06		%	n/m			0.36		%	1.07		%	n/m
Return on average tangible shareholders’ equity (2)	0.96			n/m			5.20			17.03			n/m
Credit Quality	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Total net charge-offs	$	20,833		$	34,334		$	4,054		$	5,086		$	6,783
Net charge-offs as a % of average loans and leases outstanding (3)	2.24		%	3.60		%	1.74		%	2.17		%	2.87		%
Provision for credit losses	$	13,410		$	28,435		$	2,934		$	3,407		$	5,129
							December 31 2011			September 30 2011			December 31 2010
Total nonperforming loans, leases and foreclosed properties (4)							$	27,708		$	29,059		$	32,664
Nonperforming loans, leases and foreclosed properties as a % of total loans, leases and foreclosed properties (3)							3.01		%	3.15		%	3.48		%
Allowance for loan and lease losses							$	33,783		$	35,082		$	41,885
Allowance for loan and lease losses as a % of total loans and leases outstanding (3)							3.68		%	3.81		%	4.47		%
For footnotes, see page 22.

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

Page 22

Bank of America Corporation and Subsidiaries
Selected Financial Data
(Dollars in millions, except per share data; shares in thousands)
Capital Management					December 31 2011			September 30 2011			December 31 2010
Risk-based capital (5):
Tier 1 common equity(6)					$	126,690		$	117,658		$	125,139
Tier 1 common equity ratio (6)					9.86		%	8.65		%	8.60		%
Tier 1 leverage ratio					7.53			7.11			7.21
Tangible equity ratio (7)					7.54			7.16			6.75
Tangible common equity ratio (7)					6.64			6.25			5.99
Period-end common shares issued and outstanding					10,535,938			10,134,432			10,085,155
	Year Ended December 31				Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011		2010
Common shares issued (8)	450,783		1,434,911		401,506			1,242			51,450
Average common shares issued and outstanding	10,142,625		9,790,472		10,281,397			10,116,284			10,036,575
Average diluted common shares issued and outstanding	10,254,824		9,790,472		11,124,523			10,464,395			10,036,575
Dividends paid per common share	$	0.04	$	0.04	$	0.01		$	0.01		$	0.01
Summary Period-End Balance Sheet					December 31 2011			September 30 2011			December 31 2010
Total loans and leases					$	926,200		$	932,531		$	940,440
Total debt securities					311,416			350,725			338,054
Total earning assets					1,704,855			1,797,600			1,819,659
Total assets					2,129,046			2,219,628			2,264,909
Total deposits					1,033,041			1,041,353			1,010,430
Total shareholders’ equity					230,101			230,252			228,248
Common shareholders’ equity					211,704			210,772			211,686
Book value per share of common stock					$	20.09		$	20.80		$	20.99
Tangible book value per share of common stock (2)					12.95			13.22			12.98

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

⁽²⁾  Return on average tangible shareholders’ equity 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. See Reconciliations to GAAP Financial Measures on pages 25-27.

⁽³⁾  Ratios do not include loans accounted for under the fair value option during the period. Charge-off ratios are annualized for the quarterly presentation.

⁽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; purchased credit-impaired loans even though the customer may be contractually past due; nonperforming loans held-for-sale; nonperforming loans accounted for under the fair value option; and nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010.

⁽⁵⁾  Reflects preliminary data for current period risk-based capital.

⁽⁶⁾  Tier 1 common equity ratio equals Tier 1 capital excluding preferred stock, trust preferred securities, hybrid securities and minority interest divided by risk-weighted assets.

⁽⁷⁾  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 Reconciliations to GAAP Financial Measures on pages 25-27.

⁽⁸⁾  Includes 400 million of common shares issued as part of the exchange of trust preferred securities and preferred stock during the fourth quarter of 2011.

n/m = not meaningful

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

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

Page 23

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2011
	Deposits			Card Services (1)			Consumer Real Estate Services			Global Commercial Banking			Global   Banking &   Markets			GWIM			All     Other (1)
Total revenue, net of interest expense (2)	$	3,080		$	4,060		$	3,276		$	2,556		$	3,722		$	4,164		$	4,288
Provision for credit losses	57			1,138			1,001			(146		)	(27		)	118			793
Noninterest expense	2,798			1,393			4,596			1,039			4,287			3,649			1,760
Net income (loss)	141			1,022			(1,459		)	1,048			(433		)	249			1,423
Return on average equity	2.34		%	19.69		%	n/m			10.22		%	n/m			5.54		%	n/m
Return on average economic capital (3)	9.51			40.48			n/m			20.78			n/m			14.13			n/m
Balance Sheet
Average
Total loans and leases	n/m			$	121,124		$	116,993		$	187,905		$	130,640		$	102,708		$	272,807
Total deposits	$	417,110		n/m			n/m			176,010			115,267			249,814			46,057
Allocated equity	23,862			20,610			14,757			40,718			33,707			17,860			76,721
Economic capital (3)	5,923			10,061			14,757			20,026			22,749			7,196			n/m
Period end
Total loans and leases	n/m			$	120,669		$	112,359		$	188,262		$	133,126		$	103,459		$	267,621
Total deposits	$	421,871		n/m			n/m			176,941			122,296			253,029			32,870
	Third Quarter 2011
	Deposits			Card Services (1)			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	3,119		$	4,505		$	2,822		$	2,533		$	5,222		$	4,230		$	6,271
Provision for credit losses	52			1,037			918			(150		)	15			162			1,373
Noninterest expense	2,627			1,457			3,852			1,018			4,480			3,516			663
Net income (loss)	276			1,263			(1,137		)	1,050			(302		)	347			4,735
Return on average equity	4.61		%	24.13		%	n/m			10.22		%	n/m			7.72		%	n/m
Return on average economic capital (3)	18.78			49.31			n/m			20.78			n/m			19.66			n/m
Balance Sheet
Average
Total loans and leases	n/m			$	123,547		$	120,079		$	188,037		$	120,143		$	102,785		$	286,753
Total deposits	$	422,331		n/m			n/m			173,837			121,389			255,658			52,855
Allocated equity	23,820			20,755			14,240			40,726			36,372			17,839			68,658
Economic capital (3)	5,873			10,194			14,240			20,037			25,589			7,148			n/m
Period end
Total loans and leases	n/m			$	122,223		$	119,823		$	188,650		$	124,527		$	102,361		$	274,269
Total deposits	$	424,267		n/m			n/m			171,297			115,724			251,027			52,947
	Fourth Quarter 2010
	Deposits			Card Services (1)			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	3,003		$	5,357		$	480		$	2,614		$	5,364		$	4,161		$	1,689
Provision for credit losses	41			1,846			1,198			(136		)	(112		)	155			2,137
Noninterest expense	3,270			1,463			5,980			1,061			4,321			3,489			1,280
Net income (loss)	(200		)	1,289			(4,937		)	1,053			669			319			563
Return on average equity	n/m			21.74		%	n/m			9.72		%	5.65		%	6.94		%	n/m
Return on average economic capital (3)	n/m			40.28			n/m			18.75			7.28			17.97			n/m
Balance Sheet
Average
Total loans and leases	n/m			$	136,738		$	124,933		$	195,293		$	100,606		$	100,306		$	282,125
Total deposits	$	413,150		n/m			n/m			156,672			104,655			246,281			55,301
Allocated equity	24,128			23,518			24,310			42,997			46,935			18,227			55,410
Economic capital (3)	6,161			12,846			19,511			22,294			36,695			7,475			n/m
Period end
Total loans and leases	n/m			$	137,024		$	122,933		$	194,038		$	99,964		$	100,724		$	285,087
Total deposits	$	415,189		n/m			n/m			161,279			109,691			257,982			40,142

⁽¹⁾  During the third quarter of 2011, as a result of the decision to exit the international consumer card business, the Global Card Services business segment was renamed to Card Services. The international consumer card business results have been moved to All Other and prior periods have been reclassified.

⁽²⁾  Fully taxable-equivalent basis. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes.

⁽³⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding mortgage servicing rights). Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. See Reconciliations to GAAP Financial Measures on pages 25-27.

n/m = not meaningful

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

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

Page 24

Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2011
	Deposits			Card Services (1)			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	12,689		$	18,143		$	(3,154	)	$	10,553		$	23,618		$	17,376		$	15,201
Provision for credit losses	173			3,072			4,524			(634		)	(296		)	398			6,173
Noninterest expense	10,633			6,024			21,893			4,234			18,179			14,395			4,916
Net income (loss)	1,192			5,788			(19,529		)	4,402			2,967			1,635			4,991
Return on average equity	5.02		%	27.40		%	n/m			10.77		%	7.97		%	9.19		%	n/m
Return on average economic capital (3)	20.66			55.08			n/m			21.83			11.22			23.44			n/m
Balance Sheet
Average
Total loans and leases	n/m			$	126,084		$	119,820		$	189,415		$	116,075		$	102,143		$	283,890
Total deposits	$	421,106		n/m			n/m			169,192			116,088			254,777			49,283
Allocated equity	23,735			21,128			16,202			40,867			37,233			17,802			72,128
Economic capital (3)	5,786			10,539			14,852			20,172			26,583			7,106			n/m
Period end
Total loans and leases	n/m			$	120,669		$	112,359		$	188,262		$	133,126		$	103,459		$	267,621
Total deposits	$	421,871		n/m			n/m			176,941			122,296			253,029			32,870
	Year Ended December 31, 2010
	Deposits			Card Services (1)			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	13,562		$	22,340		$	10,329		$	11,226		$	27,949		$	16,289		$	9,695
Provision for credit losses	201			10,962			8,490			1,979			(166		)	646			6,323
Noninterest expense	11,196			16,357			14,886			4,130			17,535			13,227			5,777
Net income (loss)	1,362			(6,980		)	(8,947		)	3,218			6,297			1,340			1,472
Return on average equity	5.62		%	n/m			n/m			7.38		%	12.58		%	7.42		%	n/m
Return on average economic capital (3)	21.97			23.62			n/m			14.07			15.82			19.57			n/m
Balance Sheet
Average
Total loans and leases	n/m			$	145,081		$	129,234		$	203,824		$	98,593		$	99,269		$	281,642
Total deposits	$	414,877		n/m			n/m			148,638			97,858			232,318			67,945
Allocated equity	24,222			32,418			26,016			43,590			50,037			18,068			38,884
Economic capital (3)	6,247			14,774			21,214			22,906			39,931			7,290			n/m
Period end
Total loans and leases	n/m			$	137,024		$	122,933		$	194,038		$	99,964		$	100,724		$	285,087
Total deposits	$	415,189		n/m			n/m			161,279			109,691			257,982			40,142

⁽¹⁾  During the third quarter of 2011, as a result of the decision to exit the international consumer card business, the Global Card Services business segment was renamed to Card Services. The international consumer card business results have been moved to All Other and prior periods have been reclassified.

⁽²⁾  Fully taxable-equivalent basis. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes.

⁽³⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding mortgage servicing rights). Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. See Reconciliations to GAAP Financial Measures on pages 25-27.

n/m = not meaningful

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

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

Page 25

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Fully taxable-equivalent basis data (1)	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income	$	45,588		$	52,693		$	10,959		$	10,739		$	12,709
Total revenue, net of interest expense	94,426			111,390			25,146			28,702			22,668
Net interest yield (2)	2.48		%	2.78		%	2.45		%	2.32		%	2.69		%
Efficiency ratio	85.01			74.61			77.64			61.37			92.04
Other Data							December 31 2011			September 30 2011			December 31 2010
Number of banking centers - U.S.							5,702			5,715			5,856
Number of branded ATMs - U.S.							17,756			17,752			17,926
Full-time equivalent employees							284,635			290,509			288,471

⁽¹⁾  Fully taxable-equivalent basis is a non-GAAP financial measure. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. See Reconciliations to GAAP Financial Measures on pages 25-27.

⁽²⁾  Calculation includes fees earned on overnight deposits placed with the Federal Reserve of $186 million and $368 million for the years ended December 31, 2011 and 2010; $36 million and $38 million for the fourth and third quarters of 2011, and $63 million for the fourth quarter of 2010, respectively.

n/m = not meaningful

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

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

Page 26

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 plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of average shareholders’ equity 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 plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio represents total ending shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents ending common shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity (i.e., capital). In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

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

In certain presentations, earnings and diluted earnings per common share, the efficiency ratio, return on average assets, return on common shareholders’ equity, return on average tangible common shareholders’ equity and return on average tangible shareholders’ equity are calculated excluding the impact of goodwill impairment charges of $581 million and $2.6 billion recorded in the fourth and second quarters of 2011, and $2.0 billion and $10.4 billion recorded in the fourth and third quarters of 2010. Accordingly, these are non-GAAP financial measures.

See the tables below and on pages 25-26 for reconciliations of these non-GAAP financial measures with financial measures defined by GAAP for the three months ended December 31, 2011, September 30, 2011 and December 31, 2010, and the years ended December 31, 2011 and 2010. 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.

	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011		Fourth Quarter 2010
	2011			2010
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	44,616		$	51,523		$	10,701		$	10,490	$	12,439
Fully taxable-equivalent adjustment	972			1,170			258			249		270
Net interest income on a fully taxable-equivalent basis	$	45,588		$	52,693		$	10,959		$	10,739	$	12,709
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	$	93,454		$	110,220		$	24,888		$	28,453	$	22,398
Fully taxable-equivalent adjustment	972			1,170			258			249		270
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	94,426		$	111,390		$	25,146		$	28,702	$	22,668
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges
Total noninterest expense	$	80,274		$	83,108		$	19,522		$	17,613	$	20,864
Goodwill impairment charges	(3,184		)	(12,400		)	(581		)	—		(2,000		)
Total noninterest expense, excluding goodwill impairment charges	$	77,090		$	70,708		$	18,941		$	17,613	$	18,864
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	(1,676	)	$	915		$	441		$	1,201	$	(2,351	)
Fully taxable-equivalent adjustment	972			1,170			258			249		270
Income tax expense (benefit) on a fully taxable-equivalent basis	$	(704	)	$	2,085		$	699		$	1,450	$	(2,081	)
Reconciliation of net income (loss) to net income, excluding goodwill impairment charges
Net income (loss)	$	1,446		$	(2,238	)	$	1,991		$	6,232	$	(1,244	)
Goodwill impairment charges	3,184			12,400			581			—		2,000
Net income, excluding goodwill impairment charges	$	4,630		$	10,162		$	2,572		$	6,232	$	756
Reconciliation of net income (loss) applicable to common shareholders to net income applicable to common shareholders, excluding goodwill impairment charges
Net income (loss) applicable to common shareholders	$	85		$	(3,595	)	$	1,584		$	5,889	$	(1,565	)
Goodwill impairment charges	3,184			12,400			581			—		2,000
Net income applicable to common shareholders, excluding goodwill impairment charges	$	3,269		$	8,805		$	2,165		$	5,889	$	435

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

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

Page 27

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures - continued
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	211,709		$	212,686		$	209,324		$	204,928		$	218,728
Common Equivalent Securities	—			2,900			—			—			—
Goodwill	(72,334		)	(82,600		)	(70,647		)	(71,070		)	(75,584		)
Intangible assets (excluding mortgage servicing rights)	(9,180		)	(10,985		)	(8,566		)	(9,005		)	(10,211		)
Related deferred tax liabilities	2,898			3,306			2,775			2,852			3,121
Tangible common shareholders’ equity	$	133,093		$	125,307		$	132,886		$	127,705		$	136,054
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	229,095		$	233,235		$	228,235		$	222,410		$	235,525
Goodwill	(72,334		)	(82,600		)	(70,647		)	(71,070		)	(75,584		)
Intangible assets (excluding mortgage servicing rights)	(9,180		)	(10,985		)	(8,566		)	(9,005		)	(10,211		)
Related deferred tax liabilities	2,898			3,306			2,775			2,852			3,121
Tangible shareholders’ equity	$	150,479		$	142,956		$	151,797		$	145,187		$	152,851
Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
Common shareholders’ equity	$	211,704		$	211,686		$	211,704		$	210,772		$	211,686
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			3,036
Tangible common shareholders’ equity	$	136,418		$	130,938		$	136,418		$	133,953		$	130,938
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
Shareholders’ equity	$	230,101		$	228,248		$	230,101		$	230,252		$	228,248
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			3,036
Tangible shareholders’ equity	$	154,815		$	147,500		$	154,815		$	153,433		$	147,500
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,129,046		$	2,264,909		$	2,129,046		$	2,219,628		$	2,264,909
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			3,036
Tangible assets	$	2,053,760		$	2,184,161		$	2,053,760		$	2,142,809		$	2,184,161
Book value per share of common stock
Common shareholders’ equity	$	211,704		$	211,686		$	211,704		$	210,772		$	211,686
Ending common shares issued and outstanding	10,535,938			10,085,155			10,535,938			10,134,432			10,085,155
Book value per share of common stock	$	20.09		$	20.99		$	20.09		$	20.80		$	20.99
Tangible book value per share of common stock
Tangible common shareholders’ equity	$	136,418		$	130,938		$	136,418		$	133,953		$	130,938
Ending common shares issued and outstanding	10,535,938			10,085,155			10,535,938			10,134,432			10,085,155
Tangible book value per share of common stock	$	12.95		$	12.98		$	12.95		$	13.22		$	12.98

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

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

Page 28

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures - continued
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Fourth Quarter 2010
	2011			2010
Reconciliation of return on average economic capital
Deposits
Reported net income (loss)	$	1,192		$	1,362		$	141		$	276		$	(200	)
Adjustment related to intangibles (1)	3			10			2			1			2
Adjusted net income (loss)	$	1,195		$	1,372		$	143		$	277		$	(198	)
Average allocated equity	$	23,735		$	24,222		$	23,862		$	23,820		$	24,128
Adjustment related to goodwill and a percentage of intangibles	(17,949		)	(17,975		)	(17,939		)	(17,947		)	(17,967		)
Average economic capital	$	5,786		$	6,247		$	5,923		$	5,873		$	6,161
Card Services
Reported net income (loss)	$	5,788		$	(6,980	)	$	1,022		$	1,263		$	1,289
Adjustment related to intangibles (1)	17			70			5			4			15
Goodwill impairment charge	—			10,400			—			—			—
Adjusted net income	$	5,805		$	3,490		$	1,027		$	1,267		$	1,304
Average allocated equity	$	21,128		$	32,418		$	20,610		$	20,755		$	23,518
Adjustment related to goodwill and a percentage of intangibles	(10,589		)	(17,644		)	(10,549		)	(10,561		)	(10,672		)
Average economic capital	$	10,539		$	14,774		$	10,061		$	10,194		$	12,846
Consumer Real Estate Services
Reported net loss	$	(19,529	)	$	(8,947	)	$	(1,459	)	$	(1,137	)	$	(4,937	)
Adjustment related to intangibles (1)	—			3			—			—			—
Goodwill impairment charges	2,603			2,000			—			—			2,000
Adjusted net loss	$	(16,926	)	$	(6,944	)	$	(1,459	)	$	(1,137	)	$	(2,937	)
Average allocated equity	$	16,202		$	26,016		$	14,757		$	14,240		$	24,310
Adjustment related to goodwill and a percentage of intangibles	(1,350		)	(4,802		)	—			—			(4,799		)
Average economic capital	$	14,852		$	21,214		$	14,757		$	14,240		$	19,511
Global Commercial Bank
Reported net income	$	4,402		$	3,218		$	1,048		$	1,050		$	1,053
Adjustment related to intangibles (1)	2			5			—			—			1
Adjusted net income	$	4,404		$	3,223		$	1,048		$	1,050		$	1,054
Average allocated equity	$	40,867		$	43,590		$	40,718		$	40,726		$	42,997
Adjustment related to goodwill and a percentage of intangibles	(20,695		)	(20,684		)	(20,692		)	(20,689		)	(20,703		)
Average economic capital	$	20,172		$	22,906		$	20,026		$	20,037		$	22,294
Global Banking and Markets
Reported net income (loss)	$	2,967		$	6,297		$	(433	)	$	(302	)	$	669
Adjustment related to intangibles (1)	17			19			4			5			4
Adjusted net income (loss)	$	2,984		$	6,316		$	(429	)	$	(297	)	$	673
Average allocated equity	$	37,233		$	50,037		$	33,707		$	36,372		$	46,935
Adjustment related to goodwill and a percentage of intangibles	(10,650		)	(10,106		)	(10,958		)	(10,783		)	(10,240		)
Average economic capital	$	26,583		$	39,931		$	22,749		$	25,589		$	36,695
Global Wealth and Investment Management
Reported net income	$	1,635		$	1,340		$	249		$	347		$	319
Adjustment related to intangibles (1)	30			86			7			7			20
Adjusted net income	$	1,665		$	1,426		$	256		$	354		$	339
Average allocated equity	$	17,802		$	18,068		$	17,860		$	17,839		$	18,227
Adjustment related to goodwill and a percentage of intangibles	(10,696		)	(10,778		)	(10,664		)	(10,691		)	(10,752		)
Average economic capital	$	7,106		$	7,290		$	7,196		$	7,148		$	7,475

⁽¹⁾  Represents cost of funds and earnings credit on 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.

EX-99.2

Bank of America and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” The forward-looking statements made represent Bank of America's current expectations, plans or forecasts of its future results and revenues, the company's focus in 2012 to continue to build capital, grow core business, reduce costs and reduce residual risks; streamline the balance sheet and deliver earnings growth; continued addition of wealth management advisors and small business bankers; that advisor growth will be muted in 2012; continued reductions in the size of the company’s mortgage servicing portfolio; the implementation and completion of, and expected impact from, Project New BAC; the persistence of “headwinds” of global economies, an adverse housing market, low interest rates, substantial regulatory challenges and the Eurozone debt crisis; continued generation of strong core customer results, more customers and more depth in customer relationships, along with good returns on capital; the substantial completion of the non-core asset sales, although there will be targeted sales activity in certain areas; the approximately $189 billion in additional liquidity that is available to the company’s banking entities via pledging assets to the home loan banks and the Federal Reserve discount window; liquidity will remain high in 2012 even as we continue to reduce long-term debt; the need to replace only a small portion of parent company debt maturities; target of zero issuance of parent company and broker/dealer short-term unsecured funding; that risk management efforts will continue to produce solid improvement, including credit risk as legacy portfolios continue to run-off and a reduction in the negative earnings; continued management of mortgage issues and reliance on reserves built in 2011; 2012 outlook, including the following: efficiency improvements; headcount levels, including expecting the impact of reduced headcount levels in the first quarter of 2012; the first quarter will include the annual retirement eligible stock compensation; net interest income compression from replacement of higher-yielding maturing assets, offset with continued reductions in long-term debt; net interest income expected to be muted and highly dependent on the rate environment; parent company unsecured debt issuances in the single digit billions; continued consumer loan run-off, which should be partially offset by loan growth in our commercial businesses; lower levels of long-term debt, including reductions of an additional $50-$100 billion by the end of 2013; the correlation of revenue with economic growth, including consumer noninterest revenue lines; market-related revenue of investment banking, sales and trading, and investment and brokerage is expected to be dependent on market environment; that investment banking is expected to be more consistent with activity last year; the company hopes to see better results in sales and trading but that is dependent on global conditions and health of the recovery; the decline in equity investment income; that expense will benefit from Project New BAC savings and expected lower legacy mortgage-related costs; continued reductions in bank branches; that Legacy Asset Servicing costs are expected to decline over the four quarters of 2012; that Project New BAC will generate $5 billion in annual savings by 2014 and that the company will exceed the $1 billion cost saving goal expected to be achieved in 2012; the Phase 2 lower cost savings; that lower head count and Project New BAC, along with an improving mortgage environment are expected to result in substantial costs savings in the second half of 2012; that we will continue to make progress in reducing delinquent serviced loans as modifications, foreclosures and short sales outpace new entrants; that improvement in charge-offs is expected to slow but continue to improve; our belief that credit quality (including charge-offs) will continue to improve over the next few quarters, although at a slowing pace; slowing reserve releases; continued capital and capital ratio growth primarily through earnings and, to a lesser extent, lower risk-weighted assets throughout 2012; that we expect the effective tax rate to be around 30 percent; Basel III expectations to be between 7.25% and 7.5% on fully phased-in basis and above 8% on a reported basis by the end of 2012; that the company continues to work very hard to prepare itself for the new Basel capital requirements; continued reductions in risk-weighted assets, including a December 31, 2012 goal of $1.75 trillion, and other deductions from capital; that additional risk-weighted asset mitigation efforts will continue after 2012; the estimated range of possible loss for non-GSE representations and warranties exposure; representations and warranties reserves, expenses and repurchase activity; and other similar matters. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks, as well as those more fully discussed under Item 1A. “Risk Factors” of Bank of America's 2010 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011 and in any of Bank of America's subsequent SEC filings: the company's ability to implement, manage and realize the anticipated benefits and expense savings from Project New BAC; the company's timing and determinations regarding any potential revised comprehensive capital plan submission and the Federal Reserve Board's response; the impact and ultimate resolution of the private-label securitization settlement (the settlement) with the Bank of New York Mellon (BNY Mellon) and of any additional claims not addressed by the BNY Mellon settlement or other prior settlement agreements; the company's ability to resolve any representations and warranties claims from GSEs, monolines and private investors; increased repurchase claims and repurchases due to mortgage insurance cancellations, rescissions and denials; the company's failure to satisfy its obligations as servicer in the residential mortgage securitization process; the foreclosure review and assessment process, the effectiveness of the company's response to such process and any governmental or private third-party claims asserted in connection with these foreclosure matters; the ability to achieve resolution in negotiations with law enforcement authorities and federal agencies, including the U.S. Department of Justice and the U.S. Department of Housing and Urban Development, involving mortgage servicing practices, including the timing and any settlement terms; the company's mortgage modification policies, loss mitigation strategies and related results; and any measures or steps taken by federal regulators or other governmental authorities with regard to mortgage loans, servicing agreements and standards, or other matters; the risk of any additional credit ratings downgrades of the U.S. government; the company's credit ratings and the credit ratings of its securitizations, including the risk that the company or its securities will be the subject of additional or further credit ratings downgrades; the impact resulting from international and domestic sovereign credit uncertainties, including the current challenges facing European economies; the level and volatility of the capital markets, interest rates, currency values and other market indices; changes in consumer, investor and counterparty confidence in, and the related impact on, financial markets and institutions, including the company as well as its business partners; legislative and regulatory actions in the U.S and internationally, including the identification and effectiveness of any initiatives to mitigate the negative impacts; the impact of litigation and regulatory investigations, including costs, expenses, settlements and judgments as well as any collateral effects on its ability to do business and access the capital markets; negative economic conditions generally including continued weakness in the U.S. housing market, high unemployment in the U.S., as well as economic challenges in many non-U.S. countries in which we operate; various monetary, tax and fiscal policies of the U.S. and non-U.S. governments. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. Forward-Looking Statements

Tier 1 Common Equity Ratio Improved 121 bps in 4Q11 8.65 9.86 0.29 0.24 0.07 0.21 0.18 0.10 0.12 3Q11 Preferred exchange CCB sale Canadian consumer card sale Net income and DTA Reductions in market risk Asset sales and change in loans Other RWA declines - net 4Q11 • Tier 1 common equity ratio increased 121bps from 3Q11 driven by significant capital actions in the quarter and continued transformation of company’s reduction of risk – Exchanges of preferred and trust preferred securities for common stock and senior notes benefited Tier 1 common equity ratio by 29bps  400 million common shares issued along with $1.7B discount captured on exchanges of preferred and trust preferred securities, including a $1.2B pre-tax gain – Sale of CCB shares benefited Tier 1 common equity ratio by 24bps – Sale of Canadian consumer card business benefited Tier 1 common equity ratio by 7bps • Risk-weighted assets declined $75B during the quarter as a result of: – Sales of non-core assets – Reduction in risk and proactive capital management Key Drivers of Improvement in Tier 1 Common Equity Ratio % %

Legacy Asset Servicing (within CRES) ____________________ 1 Serviced by LAS associates. 2 Selected items include litigation expense and assessments and waivers costs. These items are listed on the Consumer Real Estate Services (CRES) slide. 3 Staffing includes ending full-time equivalent associates, offshore associates and contractors. N/R = not reported. • Made significant progress in 4Q11 reducing total LAS loans serviced by 644K from 4.1MM loans to 3.5MM – 510K of servicing sales and other strategic transfers drove the decline • 60+ days delinquent loans serviced declined 8% or 91K to 1,067K • Legacy Asset Servicing noninterest expense of $2.0B, excluding litigation expense, increased in the quarter as staffing for default servicing increased to 48.5K associates – We expect this to be near the peak in terms of staffing levels 3Q11 4Q10 Total LAS first-lien servicing (# of loans in thousands) 1 3,471 (644) (1,189) 60+ days delinquent first mortgages in servicing portfolio (# of loans in thousands) 1 1,067 (91) (305) Noninterest expense (excl. selected items) ($B) 2 $2.0 $0.2 N/R Staffing (in thousands) 3 48.5 3.7 13.1 Inc / (Dec) 4Q11 Legacy Asset Servicing Highlights

3.5% 4.0% 4.5% 4.5% 4.5% 4.5% 4.5% 0.6% 1.25% 1.9% 2.5% 3.5% 4.0% 4.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2013 2014 2015 2016 2017 2018 2019 SIFI up to 250 bps Capital Conservation Buffer Tier 1 Common Minimum 1/1/2013 0% 1/1/2014 20% 1/1/2015 40% 1/1/2016 60% 1/1/2017 80% 1/1/2018 100% 1/1/2019 100% Capital Deduction Phase-In Basel III • December 31, 2012 risk-weighted assets (RWA) goal of $1.75T 2 – Updated from previous $1.8T goal 2 – RWA reduced $172B under Basel 1 in 2011 • Additional RWA mitigation efforts have been identified and will continue after December 31, 2012 • Have actively mitigated against Basel III capital numerator deductions which phase in starting in 2014 – Addressed deductions associated with minority interest in financial institution ownership stakes – Aggressively reducing MSRs – DTA balances expected to decline as more earnings are generated • Tier 1 Common Equity Ratio under Basel III expected to be in a range of 7.25 - 7.5% (fully phased-in) YE12 2 – Previous guidance was a range of 6.75% - 7.0% 2 Basel Capital Requirements 1 ____________________ 1 Based on BCBS’ Basel III: A global regulatory framework for more resilient banks and banking systems, issued December 2010 and revised June 2011 and the press release on global systemically important banks dated June 25, 2011. Data assumes no counter-cyclical capital buffer in effect. 2 Assumes approval of all regulatory models.

2012 Commentary • Headwinds of global economies, housing prices, interest rates and Eurozone debt crisis persist • Net interest income expected to remain muted ‒ Modest core loan growth expected to partially offset divestitures and run-off portfolios ‒ Compression as higher yielding assets mature will be partially offset by continued reductions in long- term debt footprint • Consumer noninterest revenue lines expected to be highly correlated with economy • Market-related revenue of investment banking, sales and trading, and investment and brokerage is dependent on market environment • Charge-off improvement is expected to continue while reserve releases are expected to slow • Expense expected to benefit from heightened focus on savings including New BAC savings and lower legacy mortgage-related costs compared to 2011 • Entering 2012 with higher capital, liquidity and combined reserves for credit, representations and warranties, and litigation than any year in company history

• Total representations and warranties provision for the quarter was $263MM primarily related to the GSEs which is consistent with 3Q11 • Estimated range of possible loss related to non-GSE representations and warranties exposure could be up to $5B over existing accruals at December 31, 2011. The company is not currently able to reasonably estimate the possible loss or range of possible loss with respect to GSE representations and warranties exposure over existing accruals at December 31, 2011 • Increase in other new claims is primarily related to repurchase requests received from trustees on private-label securitization transactions not included in the BNY Mellon settlement • Our repurchase experience with the GSEs continues to evolve and their repurchase requests and resolution processes remain inconsistent with our interpretation of our contractual obligations. These developments have resulted in an increase in claims outstanding from the GSEs. We intend to repurchase loans to the extent required under the contracts and standards that govern our relationships with the GSEs Liability for Representations and Warranties ($MM) Outstanding Claims by Counterparty ($MM) New Claim Trends ($MM) Representations and Warranties ____________________ 1 Represents mix of new claims for 2011. 2 Includes $1.7B in demands from private-label securitization investors who do not have the right to demand repurchase of loans directly. However, inclusion of these claims does not mean we believe that the claimant has satisfied the contractual thresholds to direct the securitization trustee to take action or that these claims are otherwise procedurally or substantively valid. A claimant has filed litigation against the company relating to certain of these claims. This $1.7B in claims relates to loans underlying securitizations included in the settlement with BNY Mellon, as trustee. If the settlement is approved by the court, these claims will be resolved by the settlement. 4Q10 1Q11 2Q11 3Q11 4Q11 Beginning Balance $4,402 $5,438 $6,220 $17,780 $16,271 Additions for new sales 8 7 3 3 7 Provision 4,140 1,013 14,037 278 263 Charge-offs (3,028) (238) (2,480) (1,790) (683) Other (84) - - - - Ending Balance $5,438 $6,220 $17,780 $16,271 $15,858 Q10 1Q11 Q11 3Q11 4Q11 GSEs $2,821 $5,350 $5,081 $4,721 $6,258 Monolines 4,678 4,979 3,052 3,058 ,082 Other 2 3,188 3,235 3,447 3,893 4,912 Total $10,687 $13,564 $11,580 $11,672 $14,252 4Q10 1Q11 2Q11 3Q11 4Q11 Mix 1 Pre 2005 $455 $130 $210 $95 $77 3% 2005 957 409 431 668 751 13% 2006 2,105 1,584 763 925 1,400 27% 2007 1,775 2,253 1,746 1,493 2,168 44% 2008 351 483 389 451 331 10% Post 2008 105 128 158 164 126 3% New Claims $5,748 $4,987 $3,697 $3,796 $4,853 % GSEs 57% 88% 90% 87% 68% Rescinded claims $4,106 $934 $3,772 $1,454 $1,229 Approved repurchases 3,934 1,109 2,002 2,241 1,170 Outstanding claims 10,687 13,564 11,580 11,672 14,252 % GSEs 26% 39% 44% 40% 44%

• Does not include litigation reserves established • Estimated Range of Possible Loss (RPL) above accruals up to $5B for non-GSE exposures at December 31, 2011 • Exposures identified above relate to repurchase claims associated with purported representations and warranties breaches in RMBS transactions. They do not include any exposures associated with related litigation matters asserting different claims, nor do they include any separate foreclosure costs and related costs and assessments, or any possible losses related to potential claims for breaches of performance of servicing obligations, potential securities law or fraud claims, potential indemnity or other claims against us, including claims related to loans guaranteed by the FHA, which could be material ____________________ 1 Reserves established and RPL are subject to adjustments in future periods based on a number of factors including ultimate resolution of the BNY Mellon settlement, estimated repurchase rates, economic conditions, home prices, consumer and counterparty behavior, and a variety of judgmental factors. Representations and Warranties Exposure Status as of December 31, 2011 ($B) Representations and Warranties Exposure (2004-2008 vintages) Counterparty Original Balance Outstanding Balance Have Paid Reserves Established 1 Commentary 1 GSE - FHLMC (CFC) $196 $90 FHLMC Agreement GSE All Other 922 358 Reserves established, FNMA Pipeline Agreement Second-lien monoline 81 14 Agreement with Assured and part of RPL Whole loans sold 55 16 Reserves established Private l bel (CFC issued) 409 158 Reserves established; BNY Mellon settlement pending court approval Private label (non CFC bank issued) 242 64 Reserves established Private label (3rd party issued) 176 68 Included in non-GSE RPL $2,081 $768 $13 $16 (2004-2008) Originations

EX-99.3

Supplemental Information

Fourth Quarter 2011

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

Bank of America Corporation and Subsidiaries
Table of Contents	Page
Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Balance Sheet	5
Capital Management	7
Core Net Interest Income	8
Quarterly Average Balances and Interest Rates	9
Year-to-Date Average Balances and Interest Rates	11
Debt Securities and Available-for-Sale Marketable Equity Securities	13
Quarterly Results by Business Segment	14
Year-to-Date Results by Business Segment	15
Deposits
Total Segment Results	16
Key Indicators	17
Card Services
Total Segment Results	18
Key Indicators	19
Consumer Real Estate Services
Total Segment Results	20
Quarterly and Year-to-Date Results	21
Key Indicators	23
Global Commercial Banking
Total Segment Results	24
Key Indicators	25
Global Banking & Markets
Total Segment Results	26
Key Indicators	27
Credit Default Swaps with Monoline Financial Guarantors	28
Investment Banking Product Rankings	29
Global Wealth & Investment Management
Total Segment Results	30
Key Indicators	31
All Other
Total Segment Results	32
Equity Investments	33
Outstanding Loans and Leases	34
Quarterly Average Loans and Leases by Business Segment	35
Commercial Credit Exposure by Industry	36
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	37
Selected Emerging Markets	38
Selected European Countries	39
Nonperforming Loans, Leases and Foreclosed Properties	40
Nonperforming Loans, Leases and Foreclosed Properties Activity	41
Quarterly Net Charge-offs and Net Charge-off Ratios	42
Year-to-Date Net Charge-offs and Net Charge-off Ratios	43
Allocation of the Allowance for Credit Losses by Product Type	44
Exhibit A: Non-GAAP Reconciliations	45

Bank of America Corporation and Subsidiaries
Consolidated Financial Highlights
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Income statement
Net interest income	$	44,616		$	51,523		$	10,701		$	10,490		$	11,246		$	12,179		$	12,439
Noninterest income	48,838			58,697			14,187			17,963			1,990			14,698			9,959
Total revenue, net of interest expense	93,454			110,220			24,888			28,453			13,236			26,877			22,398
Provision for credit losses	13,410			28,435			2,934			3,407			3,255			3,814			5,129
Goodwill impairment	3,184			12,400			581			—			2,603			—			2,000
Merger and restructuring charges	638			1,820			101			176			159			202			370
All other noninterest expense (1)	76,452			68,888			18,840			17,437			20,094			20,081			18,494
Income tax expense (benefit)	(1,676		)	915			441			1,201			(4,049		)	731			(2,351		)
Net income (loss)	1,446			(2,238		)	1,991			6,232			(8,826		)	2,049			(1,244		)
Preferred stock dividends	1,361			1,357			407			343			301			310			321
Net income (loss) applicable to common shareholders	85			(3,595		)	1,584			5,889			(9,127		)	1,739			(1,565		)
Diluted earnings (loss) per common share (2)	0.01			(0.37		)	0.15			0.56			(0.90		)	0.17			(0.16		)
Average diluted common shares issued and outstanding (2)	10,254,824			9,790,472			11,124,523			10,464,395			10,094,928			10,181,351			10,036,575
Dividends paid per common share	$	0.04		$	0.04		$	0.01		$	0.01		$	0.01		$	0.01		$	0.01
Performance ratios
Return on average assets	0.06		%	n/m			0.36		%	1.07		%	n/m			0.36		%	n/m
Return on average common shareholders' equity	0.04			n/m			3.00			11.40			n/m			3.29			n/m
Return on average tangible common shareholders' equity (3)	0.06			n/m			4.72			18.30			n/m			5.28			n/m
Return on average tangible shareholders' equity (3)	0.96			n/m			5.20			17.03			n/m			5.54			n/m
At period end
Book value per share of common stock	$	20.09		$	20.99		$	20.09		$	20.80		$	20.29		$	21.15		$	20.99
Tangible book value per share of common stock (3)	12.95			12.98			12.95			13.22			12.65			13.21			12.98
Market price per share of common stock:
Closing price	$	5.56		$	13.34		$	5.56		$	6.12		$	10.96		$	13.33		$	13.34
High closing price for the period	15.25			19.48			7.35			11.09			13.72			15.25			13.56
Low closing price for the period	4.99			10.95			4.99			6.06			10.50			13.33			10.95
Market capitalization	58,580			134,536			58,580			62,023			111,060			135,057			134,536
Number of banking centers - U.S.	5,702			5,856			5,702			5,715			5,742			5,805			5,856
Number of branded ATMs - U.S.	17,756			17,926			17,756			17,752			17,817			17,886			17,926
Full-time equivalent employees	284,635			288,471			284,635			290,509			287,839			288,062			288,471

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

⁽²⁾  Due to a net loss applicable to common shareholders for the second quarter of 2011, the fourth quarter of 2010 and for the year ended December 31, 2010, no dilutive potential common shares were included in the calculations of diluted earnings per share and average diluted common shares because they were antidilutive.

⁽³⁾  Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

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 basis data (1)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income	$	45,588		$	52,693		$	10,959		$	10,739		$	11,493		$	12,397		$	12,709
Total revenue, net of interest expense	94,426			111,390			25,146			28,702			13,483			27,095			22,668
Net interest yield (2)	2.48		%	2.78		%	2.45		%	2.32		%	2.50		%	2.67		%	2.69		%
Efficiency ratio	85.01			74.61			77.64			61.37			n/m			74.86			92.04
Performance ratios, excluding goodwill impairment charges (3, 4)
	Year Ended December 31						Fourth Quarter 2011						Second Quarter 2011						Fourth Quarter 2010
	2011			2010
Per common share information
Earnings (loss)	$	0.32		$	0.87		$	0.21					$	(0.65	)				$	0.04
Diluted earnings (loss)	0.32			0.86			0.20						(0.65		)				0.04
Efficiency ratio (1)	81.64		%	63.48		%	75.33		%				n/m						83.22		%
Return on average assets	0.20			0.42			0.46						n/m						0.13
Return on average common shareholders’ equity	1.54			4.14			4.10						n/m						0.79
Return on average tangible common shareholders’ equity	2.46			7.03			6.46						n/m						1.27
Return on average tangible shareholders’ equity	3.08			7.11			6.72						n/m						1.96

⁽¹⁾  Fully taxable-equivalent basis is a non-GAAP financial measure. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

⁽²⁾  Calculation includes fees earned on overnight deposits placed with the Federal Reserve of $186 million and $368 million for the years ended December 31, 2011 and 2010; $36 million, $38 million, $49 million and $63 million for the fourth, third, second and first quarters of 2011, and $63 million for the fourth quarter of 2010, respectively. For more information, see Quarterly and Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis on pages 9-10 and 11-12.

⁽³⁾  Performance ratios, excluding goodwill impairment charges, are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Consolidated Statement of Income
(Dollars in millions, except per share information; shares in thousands)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Interest income
Loans and leases	$	44,966		$	50,996		$	10,512		$	11,205		$	11,320		$	11,929		$	12,149
Debt securities	9,521			11,667			2,235			1,729			2,675			2,882			3,029
Federal funds sold and securities borrowed or purchased under agreements to resell	2,147			1,832			449			584			597			517			486
Trading account assets	5,961			6,841			1,297			1,500			1,538			1,626			1,661
Other interest income	3,641			4,161			920			835			918			968			965
Total interest income	66,236			75,497			15,413			15,853			17,048			17,922			18,290
Interest expense
Deposits	3,002			3,997			616			704			843			839			894
Short-term borrowings	4,599			3,699			921			1,153			1,341			1,184			1,142
Trading account liabilities	2,212			2,571			411			547			627			627			561
Long-term debt	11,807			13,707			2,764			2,959			2,991			3,093			3,254
Total interest expense	21,620			23,974			4,712			5,363			5,802			5,743			5,851
Net interest income	44,616			51,523			10,701			10,490			11,246			12,179			12,439
Noninterest income
Card income	7,184			8,108			1,478			1,911			1,967			1,828			2,127
Service charges	8,094			9,390			1,982			2,068			2,012			2,032			2,036
Investment and brokerage services	11,826			11,622			2,694			3,022			3,009			3,101			2,879
Investment banking income	5,217			5,520			1,013			942			1,684			1,578			1,590
Equity investment income	7,360			5,260			3,227			1,446			1,212			1,475			1,512
Trading account profits	6,697			10,054			280			1,604			2,091			2,722			995
Mortgage banking income (loss)	(8,830		)	2,734			2,119			1,617			(13,196		)	630			(1,419		)
Insurance income	1,346			2,066			143			190			400			613			598
Gains on sales of debt securities	3,374			2,526			1,192			737			899			546			872
Other income (loss)	6,869			2,384			140			4,511			1,957			261			(1,114		)
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses	(360		)	(2,174		)	(127		)	(114		)	(63		)	(111		)	(612		)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income	61			1,207			46			29			18			23			495
Net impairment losses recognized in earnings on available-for-sale debt securities	(299		)	(967		)	(81		)	(85		)	(45		)	(88		)	(117		)
Total noninterest income	48,838			58,697			14,187			17,963			1,990			14,698			9,959
Total revenue, net of interest expense	93,454			110,220			24,888			28,453			13,236			26,877			22,398
Provision for credit losses	13,410			28,435			2,934			3,407			3,255			3,814			5,129
Noninterest expense
Personnel	36,965			35,149			8,761			8,865			9,171			10,168			8,800
Occupancy	4,748			4,716			1,131			1,183			1,245			1,189			1,212
Equipment	2,340			2,452			525			616			593			606			607
Marketing	2,203			1,963			523			556			560			564			484
Professional fees	3,381			2,695			1,032			937			766			646			883
Amortization of intangibles	1,509			1,731			365			377			382			385			420
Data processing	2,652			2,544			688			626			643			695			662
Telecommunications	1,553			1,416			386			405			391			371			366
Other general operating	21,101			16,222			5,429			3,872			6,343			5,457			5,060
Goodwill impairment	3,184			12,400			581			—			2,603			—			2,000
Merger and restructuring charges	638			1,820			101			176			159			202			370
Total noninterest expense	80,274			83,108			19,522			17,613			22,856			20,283			20,864
Income (loss) before income taxes	(230		)	(1,323		)	2,432			7,433			(12,875		)	2,780			(3,595		)
Income tax expense (benefit)	(1,676		)	915			441			1,201			(4,049		)	731			(2,351		)
Net income (loss)	$	1,446		$	(2,238	)	$	1,991		$	6,232		$	(8,826	)	$	2,049		$	(1,244	)
Preferred stock dividends	1,361			1,357			407			343			301			310			321
Net income (loss) applicable to common shareholders	$	85		$	(3,595	)	$	1,584		$	5,889		$	(9,127	)	$	1,739		$	(1,565	)
Per common share information
Earnings (loss)	$	0.01		$	(0.37	)	$	0.15		$	0.58		$	(0.90	)	$	0.17		$	(0.16	)
Diluted earnings (loss) (1)	0.01			(0.37		)	0.15			0.56			(0.90		)	0.17			(0.16		)
Dividends paid	0.04			0.04			0.01			0.01			0.01			0.01			0.01
Average common shares issued and outstanding	10,142,625			9,790,472			10,281,397			10,116,284			10,094,928			10,075,875			10,036,575
Average diluted common shares issued and outstanding (1)	10,254,824			9,790,472			11,124,523			10,464,395			10,094,928			10,181,351			10,036,575

⁽¹⁾  Due to a net loss applicable to common shareholders for the second quarter of 2011, the fourth quarter of 2010, and for the year ended December 31, 2010, 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 Balance Sheet
(Dollars in millions)
	December 31 2011			September 30 2011			December 31 2010
Assets
Cash and cash equivalents	$	120,102		$	82,865		$	108,427
Time deposits placed and other short-term investments	26,004			18,330			26,433
Federal funds sold and securities borrowed or purchased under agreements to resell	211,183			249,998			209,616
Trading account assets	169,319			176,398			194,671
Derivative assets	73,023			79,044			73,000
Debt securities:
Available-for-sale	276,151			324,267			337,627
Held-to-maturity, at cost	35,265			26,458			427
Total debt securities	311,416			350,725			338,054
Loans and leases	926,200			932,531			940,440
Allowance for loan and lease losses	(33,783		)	(35,082		)	(41,885		)
Loans and leases, net of allowance	892,417			897,449			898,555
Premises and equipment, net	13,637			13,552			14,306
Mortgage servicing rights (includes $7,378, $7,880 and $14,900 measured at fair value)	7,510			8,037			15,177
Goodwill	69,967			70,832			73,861
Intangible assets	8,021			8,764			9,923
Loans held-for-sale	13,762			23,085			35,058
Customer and other receivables	66,999			89,302			85,704
Other assets	145,686			151,247			182,124
Total assets	$	2,129,046		$	2,219,628		$	2,264,909
Assets of consolidated VIEs included in total assets above (substantially all pledged as collateral)
Trading account assets	$	8,595		$	8,911		$	19,627
Derivative assets	1,634			1,611			2,027
Available-for-sale debt securities	—			256			2,601
Loans and leases	140,194			146,023			145,469
Allowance for loan and lease losses	(5,066		)	(5,661		)	(8,935		)
Loans and leases, net of allowance	135,128			140,362			136,534
Loans held-for-sale	1,635			3,904			1,953
All other assets	4,769			5,414			7,086
Total assets of consolidated VIEs	$	151,761		$	160,458		$	169,828

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

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

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	December 31 2011			September 30 2011			December 31 2010
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	332,228		$	321,253		$	285,200
Interest-bearing	624,814			629,176			645,713
Deposits in non-U.S. offices:
Noninterest-bearing	6,839			6,581			6,101
Interest-bearing	69,160			84,343			73,416
Total deposits	1,033,041			1,041,353			1,010,430
Federal funds purchased and securities loaned or sold under agreements to repurchase	214,864			248,116			245,359
Trading account liabilities	60,508			68,026			71,985
Derivative liabilities	59,520			59,304			55,914
Commercial paper and other short-term borrowings	35,698			33,869			59,962
Accrued expenses and other liabilities (includes $714, $790 and $1,188 of reserve for unfunded lending commitments)	123,049			139,743			144,580
Long-term debt	372,265			398,965			448,431
Total liabilities	1,898,945			1,989,376			2,036,661
Shareholders’ equity
Preferred stock, $0.01 par value; authorized -100,000,000 shares; issued and outstanding - 3,689,084, 3,993,660 and 3,943,660 shares	18,397			19,480			16,562
Common stock and additional paid-in capital, $0.01 par value; authorized - 12,800,000,000, 12,800,000,000 and 12,800,000,000 shares; issued and outstanding - 10,535,937,957, 10,134,431,514 and 10,085,154,806 shares	156,621			153,801			150,905
Retained earnings	60,520			59,043			60,849
Accumulated other comprehensive (loss)	(5,437		)	(2,071		)	(66		)
Other	—			(1		)	(2		)
Total shareholders’ equity	230,101			230,252			228,248
Total liabilities and shareholders’ equity	$	2,129,046		$	2,219,628		$	2,264,909
Liabilities of consolidated VIEs included in total liabilities above
Commercial paper and other short-term borrowings	$	5,777		$	6,208		$	6,742
Long-term debt	49,054			56,361			71,013
All other liabilities	1,112			1,115			9,141
Total liabilities of consolidated VIEs	$	55,943		$	63,684		$	86,896

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
Capital Management
(Dollars in millions)
	Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
Risk-based capital (1):
Tier 1 common	$	126,690		$	117,658		$	114,684		$	123,882		$	125,139
Tier 1 capital	159,232			156,074			153,134			162,295			163,626
Total capital	215,101			215,596			217,986			229,094			229,594
Risk-weighted assets	1,284,467			1,359,564			1,392,747			1,433,377			1,455,951
Tier 1 common equity ratio (2)	9.86		%	8.65		%	8.23		%	8.64		%	8.60		%
Tier 1 capital ratio	12.40			11.48			11.00			11.32			11.24
Total capital ratio	16.75			15.86			15.65			15.98			15.77
Tier 1 leverage ratio	7.53			7.11			6.86			7.25			7.21
Tangible equity ratio (3)	7.54			7.16			6.63			6.85			6.75
Tangible common equity ratio (3)	6.64			6.25			5.87			6.10			5.99

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

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

⁽³⁾  Tangible equity ratio equals period-end tangible shareholders’ equity divided by period-end tangible assets. Tangible common equity equals period-end tangible common shareholders’ equity divided by period-end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP 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 45-47.)

*Preliminary data on risk-based capital 

Outstanding Common Stock

No common shares were repurchased in the fourth quarter of 2011.

There is no existing Board authorized share repurchase program.

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

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

Bank of America Corporation and Subsidiaries
Core Net Interest Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (1)
As reported (2)	$	45,588		$	52,693		$	10,959		$	10,739		$	11,493		$	12,397		$	12,709
Impact of market-based net interest income (3)	(3,813		)	(4,430		)	(898		)	(950		)	(914		)	(1,051		)	(1,150		)
Core net interest income	$	41,775		$	48,263		$	10,061		$	9,789		$	10,579		$	11,346		$	11,559
Average earning assets (4)
As reported	$	1,834,659		$	1,897,573		$	1,783,986		$	1,841,135		$	1,844,525		$	1,869,863		$	1,883,539
Impact of market-based earning assets (3)	(448,776		)	(512,804		)	(416,860		)	(447,560		)	(461,775		)	(469,503		)	(481,629		)
Core average earning assets	$	1,385,883		$	1,384,769		$	1,367,126		$	1,393,575		$	1,382,750		$	1,400,360		$	1,401,910
Net interest yield contribution (1, 4)
As reported (2)	2.48		%	2.78		%	2.45		%	2.32		%	2.50		%	2.67		%	2.69		%
Impact of market-based activities (3)	0.53			0.71			0.49			0.47			0.56			0.59			0.60
Core net interest yield on earning assets	3.01		%	3.49		%	2.94		%	2.79		%	3.06		%	3.26		%	3.29		%

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Net interest income and net interest yield include fees earned on overnight deposits placed with the Federal Reserve of $186 million and $368 million for the years ended December 31, 2011 and 2010; $36 million, $38 million, $49 million and $63 million for the fourth, third, second and first quarters of 2011, and $63 million for the fourth quarter of 2010, respectively.

⁽³⁾  Represents the impact of market-based amounts included in Global Banking & Markets.

⁽⁴⁾  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.    8

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis
(Dollars in millions)
	Fourth Quarter 2011						Third Quarter 2011						Fourth Quarter 2010
	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)	$	27,688	$	85	1.19	%	$	26,743	$	87	1.31	%	$	28,141	$	75	1.07	%
Federal funds sold and securities borrowed or purchased under agreements to resell	237,453		449		0.75		256,143		584		0.90		243,589		486		0.79
Trading account assets	161,848		1,354		3.33		180,438		1,543		3.40		216,003		1,710		3.15
Debt securities (2)	332,990		2,245		2.69		344,327		1,744		2.02		341,867		3,065		3.58
Loans and leases (3):
Residential mortgage (4)	266,144		2,596		3.90		268,494		2,856		4.25		254,051		2,857		4.50
Home equity	126,251		1,207		3.80		129,125		1,238		3.81		139,772		1,410		4.01
Discontinued real estate	14,073		128		3.65		15,923		134		3.36		13,297		118		3.57
U.S. credit card	102,241		2,603		10.10		103,671		2,650		10.14		112,673		3,040		10.70
Non-U.S. credit card	15,981		420		10.41		25,434		697		10.88		27,457		815		11.77
Direct/Indirect consumer (5)	90,861		863		3.77		90,280		915		4.02		91,549		1,088		4.72
Other consumer (6)	2,751		41		6.14		2,795		43		6.07		2,796		45		6.32
Total consumer	618,302		7,858		5.06		635,722		8,533		5.34		641,595		9,373		5.81
U.S. commercial	196,778		1,798		3.63		191,439		1,809		3.75		193,608		1,894		3.88
Commercial real estate (7)	40,673		343		3.34		42,931		360		3.33		51,617		432		3.32
Commercial lease financing	21,278		204		3.84		21,342		240		4.51		21,363		250		4.69
Non-U.S. commercial	55,867		395		2.80		50,598		349		2.73		32,431		289		3.53
Total commercial	314,596		2,740		3.46		306,310		2,758		3.58		299,019		2,865		3.81
Total loans and leases	932,898		10,598		4.52		942,032		11,291		4.77		940,614		12,238		5.18
Other earning assets	91,109		904		3.95		91,452		814		3.54		113,325		923		3.23
Total earning assets (8)	1,783,986		15,635		3.49		1,841,135		16,063		3.47		1,883,539		18,497		3.90
Cash and cash equivalents (1)	94,287		36				102,573		38				136,967		63
Other assets, less allowance for loan and lease losses	329,294						357,746						349,752
Total assets	$	2,207,567					$	2,301,454					$	2,370,258

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

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

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

⁽⁴⁾  Includes non-U.S. residential mortgages of $88 million and $91 million in the fourth and third quarters of 2011, and $96 million in the fourth quarter of 2010.

⁽⁵⁾  Includes non-U.S. consumer loans of $8.4 billion and $8.6 billion in the fourth and third quarters of 2011, and $7.9 billion in the fourth quarter of 2010.

⁽⁶⁾  Includes consumer finance loans of $1.7 billion and $1.8 billion in the fourth and third quarters of 2011, and $2.0 billion in the fourth quarter of 2010; other non-U.S. consumer loans of $959 million and $932 million in the fourth and third quarters of 2011, and $791 million in the fourth quarter of 2010; and consumer overdrafts of $107 million in both the fourth and third quarters of 2011, and $34 million in the fourth quarter of 2010.

⁽⁷⁾  Includes U.S. commercial real estate loans of $38.7 billion and $40.7 billion in the fourth and third quarters of 2011, and $49.0 billion in the fourth quarter of 2010, and non-U.S. commercial real estate loans of $1.9 billion and $2.2 billion in the fourth and third quarters of 2011, and $2.6 billion in the fourth quarter of 2010.

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

	Fourth Quarter 2011				Third Quarter 2011				Fourth Quarter 2010
Federal funds sold and securities borrowed or purchased under agreements to resell		$	52			$	43			$	66
Trading account assets		—				—				(66		)
Debt securities		(462		)		(1,049		)		(20		)
U.S. commercial		(17		)		(19		)		(8		)
Non-U.S. commercial		—				—				(1		)
Net hedge expenses on assets		$	(427	)		$	(1,025	)		$	(29	)

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 (continued)
(Dollars in millions)
	Fourth Quarter 2011						Third Quarter 2011						Fourth Quarter 2010
	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	$	39,609	$	16	0.16	%	$	41,256	$	21	0.19	%	$	37,145	$	35	0.36	%
NOW and money market deposit accounts	454,249		192		0.17		473,391		248		0.21		464,531		333		0.28
Consumer CDs and IRAs	103,488		220		0.84		108,359		244		0.89		124,855		338		1.07
Negotiable CDs, public funds and other time deposits	22,413		34		0.60		18,547		5		0.12		16,334		47		1.16
Total U.S. interest-bearing deposits	619,759		462		0.30		641,553		518		0.32		642,865		753		0.46
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	20,454		29		0.55		21,037		34		0.65		16,827		38		0.91
Governments and official institutions	1,466		1		0.36		2,043		2		0.32		1,560		2		0.42
Time, savings and other	57,814		124		0.85		64,271		150		0.93		58,746		101		0.69
Total non-U.S. interest-bearing deposits	79,734		154		0.77		87,351		186		0.85		77,133		141		0.73
Total interest-bearing deposits	699,493		616		0.35		728,904		704		0.38		719,998		894		0.49
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings	284,766		921		1.28		303,234		1,152		1.51		369,738		1,142		1.23
Trading account liabilities	70,999		411		2.29		87,841		547		2.47		81,313		561		2.74
Long-term debt	389,557		2,764		2.80		420,273		2,959		2.82		465,875		3,254		2.78
Total interest-bearing liabilities (1)	1,444,815		4,712		1.29		1,540,252		5,362		1.39		1,636,924		5,851		1.42
Noninterest-bearing sources:
Noninterest-bearing deposits	333,038						322,416						287,740
Other liabilities	201,479						216,376						210,069
Shareholders’ equity	228,235						222,410						235,525
Total liabilities and shareholders’ equity	$	2,207,567					$	2,301,454					$	2,370,258
Net interest spread					2.20	%					2.08	%					2.48	%
Impact of noninterest-bearing sources					0.24						0.23						0.18
Net interest income/yield on earning assets (2)			$	10,923	2.44	%			$	10,701	2.31	%			$	12,646	2.66	%

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

	Fourth Quarter 2011				Third Quarter 2011				Fourth Quarter 2010
Consumer CDs and IRAs		$	36			$	44			$	48
Negotiable CDs, public funds and other time deposits		3				3				3
Banks located in non-U.S. countries		8				13				19
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		367				471				402
Long-term debt		(1,177		)		(1,162		)		(1,144		)
Net hedge income on liabilities		$	(763	)		$	(631	)		$	(672	)

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

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

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

Bank of America Corporation and Subsidiaries
Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis
(Dollars in millions)
	2011						2010
	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)	$	28,242	$	366	1.29	%	$	27,419	$	292	1.06	%
Federal funds sold and securities borrowed or purchased under agreements to resell	245,069		2,147		0.88		256,943		1,832		0.71
Trading account assets	187,340		6,142		3.28		213,745		7,050		3.30
Debt securities (2)	337,120		9,602		2.85		323,946		11,850		3.66
Loans and leases (3):
Residential mortgage (4)	265,546		11,096		4.18		245,727		11,736		4.78
Home equity	130,781		5,041		3.85		145,860		5,990		4.11
Discontinued real estate	14,730		501		3.40		13,830		527		3.81
U.S. credit card	105,478		10,808		10.25		117,962		12,644		10.72
Non-U.S. credit card	24,049		2,656		11.04		28,011		3,450		12.32
Direct/Indirect consumer (5)	90,163		3,716		4.12		96,649		4,753		4.92
Other consumer (6)	2,760		176		6.39		2,927		186		6.34
Total consumer	633,507		33,994		5.37		650,966		39,286		6.04
U.S. commercial	192,524		7,360		3.82		195,895		7,909		4.04
Commercial real estate (7)	44,406		1,522		3.43		59,947		2,000		3.34
Commercial lease financing	21,383		1,001		4.68		21,427		1,070		4.99
Non-U.S. commercial	46,276		1,382		2.99		30,096		1,091		3.62
Total commercial	304,589		11,265		3.70		307,365		12,070		3.93
Total loans and leases	938,096		45,259		4.82		958,331		51,356		5.36
Other earning assets	98,792		3,506		3.55		117,189		3,919		3.34
Total earning assets (8)	1,834,659		67,022		3.65		1,897,573		76,299		4.02
Cash and cash equivalents (1)	112,616		186				174,621		368
Other assets, less allowance for loan and lease losses	349,047						367,412
Total assets	$	2,296,322					$	2,439,606

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

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

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

⁽⁴⁾  Includes non-U.S. residential mortgages of $91 million and $410 million in 2011 and 2010.

⁽⁵⁾  Includes non-U.S. consumer loans of $8.5 billion and $7.9 billion in 2011 and 2010.

⁽⁶⁾  Includes consumer finance loans of $1.8 billion and $2.1 billion, other non-U.S. consumer loans of $878 million and $731 million, and consumer overdrafts of $93 million and $111 million in 2011 and 2010.

⁽⁷⁾  Includes U.S. commercial real estate loans of $42.1 billion and $57.3 billion and non-U.S. commercial real estate loans of $2.3 billion and $2.7 billion in 2011 and 2010.

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

	2011				2010
Time deposits placed and other short-term investments		$	—			$	(1	)
Federal funds sold and securities borrowed or purchased under agreements to resell		193				294
Trading account assets		(158		)		(213		)
Debt securities		(2,554		)		(1,406		)
U.S. commercial		(58		)		(92		)
Non-U.S. commercial		(2		)		(1		)
Net hedge expenses on assets		$	(2,579	)		$	(1,419	)

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
Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	2011						2010
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	40,364	$	100	0.25	%	$	36,649	$	157	0.43	%
NOW and money market deposit accounts	470,519		1,060		0.23		441,589		1,405		0.32
Consumer CDs and IRAs	110,922		1,045		0.94		142,648		1,723		1.21
Negotiable CDs, public funds and other time deposits	17,227		120		0.70		17,683		226		1.28
Total U.S. interest-bearing deposits	639,032		2,325		0.36		638,569		3,511		0.55
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	20,563		138		0.67		18,102		144		0.80
Governments and official institutions	1,985		7		0.35		3,349		10		0.28
Time, savings and other	61,851		532		0.86		55,059		332		0.60
Total non-U.S. interest-bearing deposits	84,399		677		0.80		76,510		486		0.64
Total interest-bearing deposits	723,431		3,002		0.42		715,079		3,997		0.56
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings	324,269		4,599		1.42		430,329		3,699		0.86
Trading account liabilities	84,689		2,212		2.61		91,669		2,571		2.80
Long-term debt	421,229		11,807		2.80		490,497		13,707		2.79
Total interest-bearing liabilities (1)	1,553,618		21,620		1.39		1,727,574		23,974		1.39
Noninterest-bearing sources:
Noninterest-bearing deposits	312,371						273,507
Other liabilities	201,238						205,290
Shareholders’ equity	229,095						233,235
Total liabilities and shareholders’ equity	$	2,296,322					$	2,439,606
Net interest spread					2.26	%					2.63	%
Impact of noninterest-bearing sources					0.21						0.13
Net interest income/yield on earning assets (2)			$	45,402	2.47	%			$	52,325	2.76	%

⁽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:

	2011				2010
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		173				187
Negotiable CDs, public funds and other time deposits		13				13
Banks located in non-U.S. countries		55				72
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		1,794				728
Long-term debt		(4,674		)		(4,490		)
Net hedge income on liabilities		$	(2,640	)		$	(3,491	)

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

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

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

Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	December 31, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	43,433	$	242	$	(811	)	$	42,864
Mortgage-backed securities:
Agency	138,073		4,511		(21		)	142,563
Agency collateralized mortgage obligations	44,392		774		(167		)	44,999
Non-agency residential	14,948		301		(482		)	14,767
Non-agency commercial	4,894		629		(1		)	5,522
Non-U.S. securities	4,872		62		(14		)	4,920
Corporate bonds	2,993		79		(37		)	3,035
Other taxable securities (1)	12,889		49		(60		)	12,878
Total taxable securities	$	266,494	$	6,647	$	(1,593	)	$	271,548
Tax-exempt securities	4,678		15		(90		)	4,603
Total available-for-sale debt securities	$	271,172	$	6,662	$	(1,683	)	$	276,151
Held-to-maturity debt securities	35,265		181		(4		)	35,442
Total debt securities	$	306,437	$	6,843	$	(1,687	)	$	311,593
Available-for-sale marketable equity securities (2)	$	65	$	10	$	(7	)	$	68
	September 30, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	59,905	$	874	$	(748	)	$	60,031
Mortgage-backed securities:
Agency	155,008		5,106		(35		)	160,079
Agency collateralized mortgage obligations	52,197		1,156		(115		)	53,238
Non-agency residential	17,707		394		(507		)	17,594
Non-agency commercial	5,968		634		(3		)	6,599
Non-U.S. securities	4,914		61		(12		)	4,963
Corporate bonds	3,982		149		(15		)	4,116
Other taxable securities (1)	12,444		51		(27		)	12,468
Total taxable securities	$	312,125	$	8,425	$	(1,462	)	$	319,088
Tax-exempt securities	5,299		16		(136		)	5,179
Total available-for-sale debt securities	$	317,424	$	8,441	$	(1,598	)	$	324,267
Held-to-maturity debt securities	26,458		88		(38		)	26,508
Total debt securities	$	343,882	$	8,529	$	(1,636	)	$	350,775
Available-for-sale marketable equity securities (2)	$	3,880	$	2,715	$	(25	)	$	6,570

⁽¹⁾  Substantially all asset-backed securities.

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

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

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

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2011
	Total Corporation			Deposits			Card Services		Consumer Real  Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	10,959		$	1,998		$	2,765	$	809		$	1,756		$	1,733		$	1,495	$	403
Noninterest income	14,187			1,082			1,295		2,467			800			1,989			2,669		3,885
Total revenue, net of interest expense	25,146			3,080			4,060		3,276			2,556			3,722			4,164		4,288
Provision for credit losses	2,934			57			1,138		1,001			(146		)	(27		)	118		793
Noninterest expense	19,522			2,798			1,393		4,596			1,039			4,287			3,649		1,760
Income (loss) before income taxes	2,690			225			1,529		(2,321		)	1,663			(538		)	397		1,735
Income tax expense (benefit) (1)	699			84			507		(862		)	615			(105		)	148		312
Net income (loss)	$	1,991		$	141		$	1,022	$	(1,459	)	$	1,048		$	(433	)	$	249	$	1,423
Average
Total loans and leases	$	932,898		n/m			$	121,124	$	116,993		$	187,905		$	130,640		$	102,708	$	272,807
Total assets (2)	2,207,567			$	441,629		127,543		171,763			303,820			694,727			284,418		183,667
Total deposits	1,032,531			417,110			n/m		n/m			176,010			115,267			249,814		46,057
Period end
Total loans and leases	$	926,200		n/m			$	120,669	$	112,359		$	188,262		$	133,126		$	103,459	$	267,621
Total assets (2)	2,129,046			$	445,680		127,636		163,712			289,985			637,754			283,844		180,435
Total deposits	1,033,041			421,871			n/m		n/m			176,941			122,296			253,029		32,870
	Third Quarter 2011
	Total Corporation			Deposits			Card Services		Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	10,739		$	1,987		$	2,822	$	923		$	1,743		$	1,846		$	1,411	$	7
Noninterest income	17,963			1,132			1,683		1,899			790			3,376			2,819		6,264
Total revenue, net of interest expense	28,702			3,119			4,505		2,822			2,533			5,222			4,230		6,271
Provision for credit losses	3,407			52			1,037		918			(150		)	15			162		1,373
Noninterest expense	17,613			2,627			1,457		3,852			1,018			4,480			3,516		663
Income (loss) before income taxes	7,682			440			2,011		(1,948		)	1,665			727			552		4,235
Income tax expense (benefit) (1)	1,450			164			748		(811		)	615			1,029			205		(500		)
Net income (loss)	$	6,232		$	276		$	1,263	$	(1,137	)	$	1,050		$	(302	)	$	347	$	4,735
Average
Total loans and leases	$	942,032		n/m			$	123,547	$	120,079		$	188,037		$	120,143		$	102,785	$	286,753
Total assets (2)	2,301,454			$	447,053		129,183		182,843			299,542			748,289			290,764		203,780
Total deposits	1,051,320			422,331			n/m		n/m			173,837			121,389			255,658		52,855
Period end
Total loans and leases	$	932,531		n/m			$	122,223	$	119,823		$	188,650		$	124,527		$	102,361	$	274,269
Total assets (2)	2,219,628			$	448,906		128,759		188,769			284,897			686,035			280,686		201,576
Total deposits	1,041,353			424,267			n/m		n/m			171,297			115,724			251,027		52,947
	Fourth Quarter 2010
	Total Corporation			Deposits			Card Services		Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	12,709		$	2,006		$	3,412	$	1,124		$	1,865		$	1,989		$	1,425	$	888
Noninterest income (loss)	9,959			997			1,945		(644		)	749			3,375			2,736		801
Total revenue, net of interest expense	22,668			3,003			5,357		480			2,614			5,364			4,161		1,689
Provision for credit losses	5,129			41			1,846		1,198			(136		)	(112		)	155		2,137
Noninterest expense	20,864			3,270			1,463		5,980			1,061			4,321			3,489		1,280
Income (loss) before income taxes	(3,325		)	(308		)	2,048		(6,698		)	1,689			1,155			517		(1,728		)
Income tax expense (benefit) (1)	(2,081		)	(108		)	759		(1,761		)	636			486			198		(2,291		)
Net income (loss)	$	(1,244	)	$	(200	)	$	1,289	$	(4,937	)	$	1,053		$	669		$	319	$	563
Average
Total loans and leases	$	940,614		n/m			$	136,738	$	124,933		$	195,293		$	100,606		$	100,306	$	282,125
Total assets (2)	2,370,258			$	438,346		136,715		218,085			314,790			733,732			289,643		238,947
Total deposits	1,007,738			413,150			n/m		n/m			156,672			104,655			246,281		55,301
Period end
Total loans and leases	$	940,440		n/m			$	137,024	$	122,933		$	194,038		$	99,964		$	100,724	$	285,087
Total assets (2)	2,264,909			$	440,954		138,491		212,412			312,807			653,737			296,251		210,257
Total deposits	1,010,430			415,189			n/m		n/m			161,279			109,691			257,982		40,142

⁽¹⁾  Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Year-to-Date Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2011
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	45,588		$	8,471	$	11,507		$	3,207		$	7,176		$	7,401		$	6,046	$	1,780
Noninterest income (loss)	48,838			4,218		6,636			(6,361		)	3,377			16,217			11,330		13,421
Total revenue, net of interest expense	94,426			12,689		18,143			(3,154		)	10,553			23,618			17,376		15,201
Provision for credit losses	13,410			173		3,072			4,524			(634		)	(296		)	398		6,173
Noninterest expense	80,274			10,633		6,024			21,893			4,234			18,179			14,395		4,916
Income (loss) before income taxes	742			1,883		9,047			(29,571		)	6,953			5,735			2,583		4,112
Income tax expense (benefit) (1)	(704		)	691		3,259			(10,042		)	2,551			2,768			948		(879		)
Net income (loss)	$	1,446		$	1,192	$	5,788		$	(19,529	)	$	4,402		$	2,967		$	1,635	$	4,991
Average
Total loans and leases	$	938,096		n/m		$	126,084		$	119,820		$	189,415		$	116,075		$	102,143	$	283,890
Total assets (2)	2,296,322			$	445,922	130,266			190,367			309,044			725,177			290,357		205,189
Total deposits	1,035,802			421,106		n/m			n/m			169,192			116,088			254,777		49,283
Period end
Total loans and leases	$	926,200		n/m		$	120,669		$	112,359		$	188,262		$	133,126		$	103,459	$	267,621
Total assets (2)	2,129,046			$	445,680	127,636			163,712			289,985			637,754			283,844		180,435
Total deposits	1,033,041			421,871		n/m			n/m			176,941			122,296			253,029		32,870
	Year Ended December 31, 2010
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	52,693		$	8,278	$	14,413		$	4,662		$	8,007		$	8,000		$	5,677	$	3,656
Noninterest income	58,697			5,284		7,927			5,667			3,219			19,949			10,612		6,039
Total revenue, net of interest expense	111,390			13,562		22,340			10,329			11,226			27,949			16,289		9,695
Provision for credit losses	28,435			201		10,962			8,490			1,979			(166		)	646		6,323
Noninterest expense	83,108			11,196		16,357			14,886			4,130			17,535			13,227		5,777
Income (loss) before income taxes	(153		)	2,165		(4,979		)	(13,047		)	5,117			10,580			2,416		(2,405		)
Income tax expense (benefit) (1)	2,085			803		2,001			(4,100		)	1,899			4,283			1,076		(3,877		)
Net income (loss)	$	(2,238	)	$	1,362	$	(6,980	)	$	(8,947	)	$	3,218		$	6,297		$	1,340	$	1,472
Average
Total loans and leases	$	958,331		n/m		$	145,081		$	129,234		$	203,824		$	98,593		$	99,269	$	281,642
Total assets (2)	2,439,606			$	440,030	150,672			224,994			309,326			753,844			267,163		293,577
Total deposits	988,586			414,877		n/m			n/m			148,638			97,858			232,318		67,945
Period end
Total loans and leases	$	940,440		n/m		$	137,024		$	122,933		$	194,038		$	99,964		$	100,724	$	285,087
Total assets (2)	2,264,909			$	440,954	138,491			212,412			312,807			653,737			296,251		210,257
Total deposits	1,010,430			415,189		n/m			n/m			161,279			109,691			257,982		40,142

⁽¹⁾  Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Deposits Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (1)	$	8,471		$	8,278		$	1,998		$	1,987		$	2,281		$	2,205		$	2,006
Noninterest income:
Service charges	3,995			5,057			1,036			1,071			965			923			947
All other income	223			227			46			61			55			61			50
Total noninterest income	4,218			5,284			1,082			1,132			1,020			984			997
Total revenue, net of interest expense	12,689			13,562			3,080			3,119			3,301			3,189			3,003
Provision for credit losses	173			201			57			52			31			33			41
Noninterest expense	10,633			11,196			2,798			2,627			2,609			2,599			3,270
Income (loss) before income taxes	1,883			2,165			225			440			661			557			(308		)
Income tax expense (benefit) (1)	691			803			84			164			237			206			(108		)
Net income (loss)	$	1,192		$	1,362		$	141		$	276		$	424		$	351		$	(200	)
Net interest yield (1)	2.02		%	2.00		%	1.91		%	1.88		%	2.15		%	2.14		%	1.93		%
Return on average equity	5.02			5.62			2.34			4.61			7.20			6.02			n/m
Return on average economic capital (2)	20.66			21.97			9.51			18.78			29.98			25.14			n/m
Efficiency ratio (1)	83.80			82.55			90.84			84.24			79.05			81.49			108.87
Balance sheet
Average
Total earning assets (3)	$	419,445		$	413,595		$	414,905		$	420,310		$	425,363		$	417,218		$	411,765
Total assets (3)	445,922			440,030			441,629			447,053			451,554			443,461			438,346
Total deposits	421,106			414,877			417,110			422,331			426,684			418,298			413,150
Allocated equity	23,735			24,222			23,862			23,820			23,612			23,641			24,128
Economic capital (2)	5,786			6,247			5,923			5,873			5,662			5,683			6,161
Period end
Total earning assets (3)	$	418,623		$	414,215		$	418,623		$	422,197		$	422,646		$	429,956		$	414,215
Total assets (3)	445,680			440,954			445,680			448,906			449,123			456,248			440,954
Total deposits	421,871			415,189			421,871			424,267			424,579			431,022			415,189

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Deposits Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Average deposit balances
Checking	$	165,064		$	150,817		$	166,751		$	166,304		$	166,666		$	160,452		$	154,333
Savings	37,961			34,773			37,282			38,636			39,209			36,701			35,120
MMS	127,741			121,622			127,719			128,728			128,546			125,941			124,446
CDs and IRAs	87,041			104,444			82,047			85,377			88,912			91,954			95,860
Non-U.S. and other	3,299			3,221			3,311			3,286			3,351			3,250			3,391
Total average deposit balances	$	421,106		$	414,877		$	417,110		$	422,331		$	426,684		$	418,298		$	413,150
Deposit spreads (excludes noninterest costs)
Checking	3.28		%	3.74		%	3.05		%	3.21		%	3.36		%	3.50		%	3.60		%
Savings	3.27			3.64			3.11			3.25			3.32			3.42			3.51
MMS	1.46			1.18			1.40			1.42			1.46			1.55			1.55
CDs and IRAs	0.39			0.23			0.47			0.40			0.36			0.35			0.32
Non-U.S. and other	3.72			4.26			3.44			3.63			3.83			3.97			4.10
Total deposit spreads	2.12			2.09			2.04			2.10			2.16			2.20			2.20
Client brokerage assets	$	66,576		$	63,597		$	66,576		$	61,918		$	69,000		$	66,703		$	63,597
Online banking (end of period)
Active accounts (units in thousands)	29,870			29,345			29,870			29,917			29,660			30,065			29,345
Active billpay accounts (units in thousands)	15,610			14,985			15,610			15,464			15,356			15,345			14,985
Online Only (units in thousands)	14,260			14,359			14,260			14,453			14,305			14,719			14,359

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
Card Services Segment Results (1)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (2)	$	11,507		$	14,413		$	2,765		$	2,822		$	2,905		$	3,015		$	3,412
Noninterest income:
Card income	6,286			7,049			1,306			1,720			1,684			1,576			1,843
All other income (loss)	350			878			(11		)	(37		)	267			131			102
Total noninterest income	6,636			7,927			1,295			1,683			1,951			1,707			1,945
Total revenue, net of interest expense	18,143			22,340			4,060			4,505			4,856			4,722			5,357
Provision for credit losses	3,072			10,962			1,138			1,037			302			595			1,846
Goodwill impairment	—			10,400			—			—			—			—			—
All other noninterest expense	6,024			5,957			1,393			1,457			1,532			1,642			1,463
Income (loss) before income taxes	9,047			(4,979		)	1,529			2,011			3,022			2,485			2,048
Income tax expense (2)	3,259			2,001			507			748			1,083			921			759
Net income (loss)	$	5,788		$	(6,980	)	$	1,022		$	1,263		$	1,939		$	1,564		$	1,289
Net interest yield (2)	9.04		%	9.85		%	8.97		%	8.97		%	9.07		%	9.16		%	9.83		%
Return on average equity	27.40			n/m			19.69			24.13			37.01			28.64			21.74
Return on average economic capital (3)	55.08			23.62			40.48			49.31			74.83			55.29			40.28
Efficiency ratio (2)	33.20			73.22			34.29			32.36			31.54			34.77			27.30
Efficiency ratio, excluding goodwill impairment charge (2)	33.20			26.66			34.29			32.36			31.54			34.77			27.30
Balance sheet
Average
Total loans and leases	$	126,084		$	145,081		$	121,124		$	123,547		$	127,344		$	132,473		$	136,738
Total earning assets	127,259			146,304			122,376			124,767			128,505			133,539			137,766
Total assets	130,266			150,672			127,543			129,183			130,369			134,054			136,715
Allocated equity	21,128			32,418			20,610			20,755			21,016			22,152			23,518
Economic capital (3)	10,539			14,774			10,061			10,194			10,410			11,512			12,846
Period end
Total loans and leases	$	120,669		$	137,024		$	120,669		$	122,223		$	125,140		$	128,845		$	137,024
Total earning assets	121,992			138,072			121,992			123,510			126,323			129,945			138,072
Total assets	127,636			138,491			127,636			128,759			130,717			132,421			138,491

⁽¹⁾ During the third quarter of 2011, as a result of the decision to exit the international consumer card businesses, the Global Card Services business segment was renamed Card Services. The international consumer card business results were moved to All Other and prior periods were reclassified.

⁽²⁾ Fully taxable-equivalent basis

⁽³⁾ Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Card Services Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
U.S. Consumer Card(1)
Loans
Average credit card outstandings	$	105,478		$	117,962		$	102,241		$	103,671		$	106,164		$	109,941		$	112,673
Ending credit card outstandings	102,291			113,785			102,291			102,803			104,659			107,107			113,785
Credit quality
Net charge-offs	$	7,276		$	13,027		$	1,432		$	1,639		$	1,931		$	2,274		$	2,572
	6.90		%	11.04		%	5.55		%	6.28		%	7.29		%	8.39		%	9.05		%
30+ delinquency	$	3,823		$	5,914		$	3,823		$	4,019		$	4,263		$	5,093		$	5,914
	3.74		%	5.20		%	3.74		%	3.91		%	4.07		%	4.75		%	5.20		%
90+ delinquency	$	2,070		$	3,320		$	2,070		$	2,128		$	2,413		$	2,879		$	3,320
	2.02		%	2.92		%	2.02		%	2.07		%	2.31		%	2.68		%	2.92		%
Other U.S. consumer card indicators
Gross interest yield	10.25		%	10.72		%	10.10		%	10.14		%	10.27		%	10.47		%	10.70		%
Risk adjusted margin	5.82			2.42			6.77			6.08			6.23			4.25			4.63
New account growth (in thousands)	3,035			1,814			797			851			730			657			520
Purchase volumes	$	192,358		$	185,985		$	50,901		$	48,547		$	48,974		$	43,936		$	49,092
Other Card Services Key Indicators
Debit card data
Debit purchase volumes	$	250,545		$	234,080		$	63,726		$	62,774		$	64,049		$	59,996		$	60,866

⁽¹⁾  U.S. consumer card does not include business card, debit card and consumer lending.

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.    19

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Segment Results
(Dollars in millions; except as noted)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (1)	$	3,207		$	4,662		$	809		$	923		$	579		$	896		$	1,124
Noninterest income:
Mortgage banking income (loss)	(8,193		)	3,164			2,330			1,800			(13,018		)	695			(1,254		)
Insurance income (loss)	750			2,061			(3		)	23			299			431			484
All other income	1,082			442			140			76			825			41			126
Total noninterest income (loss)	(6,361		)	5,667			2,467			1,899			(11,894		)	1,167			(644		)
Total revenue, net of interest expense	(3,154		)	10,329			3,276			2,822			(11,315		)	2,063			480
Provision for credit losses	4,524			8,490			1,001			918			1,507			1,098			1,198
Goodwill impairment	2,603			2,000			—			—			2,603			—			2,000
All other noninterest expense	19,290			12,886			4,596			3,852			6,042			4,800			3,980
Loss before income taxes	(29,571		)	(13,047		)	(2,321		)	(1,948		)	(21,467		)	(3,835		)	(6,698		)
Income tax benefit (1)	(10,042		)	(4,100		)	(862		)	(811		)	(6,948		)	(1,421		)	(1,761		)
Net loss	$	(19,529	)	$	(8,947	)	$	(1,459	)	$	(1,137	)	$	(14,519	)	$	(2,414	)	$	(4,937	)
Net interest yield (1)	2.07		%	2.52		%	2.30		%	2.45		%	1.46		%	2.11		%	2.48		%
Balance sheet
Average
Total loans and leases	$	119,820		$	129,234		$	116,993		$	120,079		$	121,683		$	120,560		$	124,933
Total earning assets	154,890			185,344			139,789			149,177			158,674			172,339			180,030
Total assets	190,367			224,994			171,763			182,843			198,030			209,328			218,085
Allocated equity	16,202			26,016			14,757			14,240			17,139			18,736			24,310
Economic capital (2)	14,852			21,214			14,757			14,240			14,437			15,994			19,511
Period end
Total loans and leases	$	112,359		$	122,933		$	112,359		$	119,823		$	121,553		$	118,749		$	122,933
Total earning assets	132,381			172,082			132,381			144,831			149,908			166,265			172,082
Total assets	163,712			212,412			163,712			188,769			185,398			204,484			212,412
Period end (in billions)
Mortgage servicing portfolio (3)	$	1,763.0		$	2,056.8		$	1,763.0		$	1,917.4		$	1,991.3		$	2,028.4		$	2,056.8

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital is a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segment. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

⁽³⁾  Servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.

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.    20

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Results (1)
(Dollars in millions)
	Year Ended December 31, 2011
	Total Consumer Real Estate Services			Home Loans			Legacy Asset Servicing			Other
Net interest income (2)	$	3,207		$	1,964		$	1,324		$	(81	)
Noninterest income:
Mortgage banking income (loss)	(8,193		)	3,330			(12,176		)	653
Insurance income	750			750			—			—
All other income	1,082			959			123			—
Total noninterest income (loss)	(6,361		)	5,039			(12,053		)	653
Total revenue, net of interest expense	(3,154		)	7,003			(10,729		)	572
Provision for credit losses	4,524			234			4,290			—
Goodwill impairment	2,603			—			—			2,603
Noninterest expense	19,290			5,649			13,642			(1		)
Income (loss) before income taxes	(29,571		)	1,120			(28,661		)	(2,030		)
Income tax expense (benefit) (2)	(10,042		)	416			(10,689		)	231
Net income (loss)	$	(19,529	)	$	704		$	(17,972	)	$	(2,261	)
Balance sheet
Average
Total loans and leases	$	119,820		$	54,784		$	65,036		$	—
Total earning assets	154,890			70,612			67,518			16,760
Total assets	190,367			72,785			83,140			34,442
Allocated equity	16,202			n/a			n/a			n/a
Economic capital (3)	14,852			n/a			n/a			n/a
Period end
Total loans and leases	$	112,359		$	52,369		$	59,990		$	—
Total earning assets	132,381			58,822			63,331			10,228
Total assets	163,712			61,417			79,023			23,272
	Three Months Ended December 31, 2011
	Total Consumer Real Estate Services			Home Loans			Legacy Asset Servicing			Other
Net interest income (2)	$	809		$	444		$	384		$	(19	)
Noninterest income:
Mortgage banking income	2,330			727			439			1,164
Insurance loss	(3		)	(3		)	—			—
All other income	140			100			40			—
Total noninterest income	2,467			824			479			1,164
Total revenue, net of interest expense	3,276			1,268			863			1,145
Provision for credit losses	1,001			63			938			—
Noninterest expense	4,596			1,101			3,496			(1		)
Income (loss) before income taxes	(2,321		)	104			(3,571		)	1,146
Income tax expense (benefit) (2)	(862		)	39			(1,327		)	426
Net income (loss)	$	(1,459	)	$	65		$	(2,244	)	$	720
Balance sheet
Average
Total loans and leases	$	116,993		$	54,300		$	62,693		$	—
Total earning assets	139,789			63,736			65,985			10,068
Total assets	171,763			65,801			82,723			23,239
Allocated equity	14,757			n/a			n/a			n/a
Economic capital (3)	14,757			n/a			n/a			n/a
Period end
Total loans and leases	$	112,359		$	52,369		$	59,990		$	—
Total earning assets	132,381			58,822			63,331			10,228
Total assets	163,712			61,417			79,023			23,272
For footnotes see page 22.

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

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Results (continued) (1)
(Dollars in millions)
	Three Months Ended September 30, 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Asset Servicing			Other
Net interest income (2)	$	923		$	473	$	472		$	(22	)
Noninterest income:
Mortgage banking income	1,800			914		526			360
Insurance income	23			23		—			—
All other income	76			38		38			—
Total noninterest income	1,899			975		564			360
Total revenue, net of interest expense	2,822			1,448		1,036			338
Provision for credit losses	918			50		868			—
Noninterest expense	3,852			1,340		2,512			—
Income (loss) before income taxes	(1,948		)	58		(2,344		)	338
Income tax expense (benefit) (2)	(811		)	24		(976		)	141
Net income (loss)	$	(1,137	)	$	34	$	(1,368	)	$	197
Balance sheet
Average
Total loans and leases	$	120,079		$	54,803	$	65,276		$	—
Total earning assets	149,177			68,765		67,683			12,729
Total assets	182,843			72,453		81,707			28,683
Allocated equity	14,240			n/a		n/a			n/a
Economic capital (3)	14,240			n/a		n/a			n/a
Period end
Total loans and leases	$	119,823		$	55,170	$	64,653		$	—
Total earning assets	144,831			66,618		67,548			10,665
Total assets	188,769			80,366		83,831			24,572

⁽¹⁾  Consumer Real Estate Services includes Home Loans and Legacy Asset Servicing with results of certain mortgage servicing right activities, including net hedge results, together with any related assets or liabilities used as economic hedges and other unallocated assets (e.g. goodwill) included in Other.

⁽²⁾  Fully taxable-equivalent basis

⁽³⁾  Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital is a non-GAAP financial measure. We believe the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segment. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

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.    22

Bank of America Corporation and Subsidiaries
Consumer Real Estate Services Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31								Fourth Quarter 2011				Third Quarter 2011				Second Quarter 2011				First Quarter 2011				Fourth Quarter 2010
	2011				2010
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	14,900			$	19,465			$	7,881			$	12,372			$	15,282			$	14,900			$	12,251
Net additions	760				3,515				(290		)		33				176				841				757
Impact of customer payments (1)	(2,621		)		(3,759		)		(612		)		(664		)		(639		)		(706		)		(799		)
Other changes in mortgage servicing rights fair value (2)	(5,661		)		(4,321		)		399				(3,860		)		(2,447		)		247				2,691
Balance, end of period	$	7,378			$	14,900			$	7,378			$	7,881			$	12,372			$	15,282			$	14,900
Capitalized mortgage servicing rights (% of loans serviced for investors)	54			bps	92			bps	54			bps	52			bps	78			bps	95			bps	92			bps
Mortgage loans serviced for investors (in billions)	$	1,379			$	1,628			$	1,379			$	1,512			$	1,578			$	1,610			$	1,628
Loan production:
Consumer Real Estate Services
First mortgage	$	139,273			$	287,236			$	18,053			$	30,448			$	38,253			$	52,519			$	81,255
Home equity	3,694				7,626				580				660				879				1,575				2,024
Total Corporation (3)
First mortgage	151,756				298,038				21,614				33,038				40,370				56,734				84,673
Home equity	4,388				8,437				759				847				1,054				1,728				2,137
Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	2,797			$	6,182			$	502			$	803			$	824			$	668			$	1,622
Representations and warranties provision	(15,591		)		(6,785		)		(263		)		(278		)		(14,037		)		(1,013		)		(4,140		)
Total production income (loss)	(12,794		)		(603		)		239				525				(13,213		)		(345		)		(2,518		)
Servicing income:
Servicing fees	5,959				6,475				1,333				1,464				1,556				1,606				1,634
Impact of customer payments (1)	(2,621		)		(3,759		)		(612		)		(664		)		(639		)		(706		)		(799		)
Fair value changes of mortgage servicing rights, net of economic hedge results (4)	656				376				1,165				361				(873		)		3				257
Other servicing-related revenue	607				675				205				114				151				137				172
Total net servicing income	4,601				3,767				2,091				1,275				195				1,040				1,264
Total Consumer Real Estate Services mortgage banking income (loss)	(8,193		)		3,164				2,330				1,800				(13,018		)		695				(1,254		)
Other business segments’ mortgage banking loss (5)	(637		)		(430		)		(211		)		(183		)		(178		)		(65		)		(165		)
Total consolidated mortgage banking income (loss)	$	(8,830	)		$	2,734			$	2,119			$	1,617			$	(13,196	)		$	630			$	(1,419	)

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

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

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

⁽⁴⁾  Includes sale of mortgage servicing rights.

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

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

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

Bank of America Corporation and Subsidiaries
Global Commercial Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (1)	$	7,176		$	8,007		$	1,756		$	1,743		$	1,827		$	1,850		$	1,865
Noninterest income:
Service charges	2,264			2,340			519			563			576			606			563
All other income	1,113			879			281			227			408			197			186
Total noninterest income	3,377			3,219			800			790			984			803			749
Total revenue, net of interest expense	10,553			11,226			2,556			2,533			2,811			2,653			2,614
Provision for credit losses	(634		)	1,979			(146		)	(150		)	(417		)	79			(136		)
Noninterest expense	4,234			4,130			1,039			1,018			1,069			1,108			1,061
Income before income taxes	6,953			5,117			1,663			1,665			2,159			1,466			1,689
Income tax expense (1)	2,551			1,899			615			615			778			543			636
Net income	$	4,402		$	3,218		$	1,048		$	1,050		$	1,381		$	923		$	1,053
Net interest yield (1)	2.65		%	2.94		%	2.62		%	2.65		%	2.60		%	2.73		%	2.67		%
Return on average equity	10.77			7.38			10.22			10.22			13.67			9.02			9.72
Return on average economic capital (2)	21.83			14.07			20.78			20.78			27.95			18.01			18.75
Efficiency ratio (1)	40.12			36.79			40.65			40.19			38.03			41.75			40.60
Balance sheet
Average
Total loans and leases	$	189,415		$	203,824		$	187,905		$	188,037		$	189,347		$	192,438		$	195,293
Total earnings assets (3)	270,901			272,401			265,903			261,422			281,831			274,647			277,393
Total assets (3)	309,044			309,326			303,820			299,542			320,436			312,576			314,790
Total deposits	169,192			148,638			176,010			173,837			166,481			160,217			156,672
Allocated equity	40,867			43,590			40,718			40,726			40,522			41,512			42,997
Economic Capital (2)	20,172			22,906			20,026			20,037			19,825			20,812			22,294
Period end
Total loans and leases	$	188,262		$	194,038		$	188,262		$	188,650		$	189,435		$	190,749		$	194,038
Total earnings assets (3)	250,882			274,624			250,882			247,068			242,261			272,411			274,624
Total assets (3)	289,985			312,807			289,985			284,897			280,296			309,936			312,807
Total deposits	176,941			161,279			176,941			171,297			170,156			161,584			161,279

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credit and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provide additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

⁽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.    24

Bank of America Corporation and Subsidiaries
Global Commercial Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Revenue, net of interest expense by service segment
Business lending	$	5,699		$	6,485		$	1,306		$	1,358		$	1,558		$	1,477		$	1,484
Treasury services	4,854			4,741			1,250			1,175			1,253			1,176			1,130
Total revenue, net of interest expense (1)	$	10,553		$	11,226		$	2,556		$	2,533		$	2,811		$	2,653		$	2,614
Average loans and leases by product
U.S. commercial	$	105,172		$	104,154		$	106,498		$	104,646		$	104,829		$	104,703		$	102,914
Commercial real estate	39,447			51,771			36,292			38,189			40,597			42,796			45,854
Direct/Indirect consumer	42,315			45,557			43,454			42,282			41,076			42,435			44,185
Other	2,481			2,342			1,661			2,920			2,845			2,504			2,340
Total average loans and leases	$	189,415		$	203,824		$	187,905		$	188,037		$	189,347		$	192,438		$	195,293
Loan spread	2.24		%	2.30		%	2.08		%	2.24		%	2.26		%	2.40		%	2.27		%
Credit quality
Reservable utilized criticized exposure (2)	$	20,251		$	32,816		$	20,251		$	22,784		$	27,041		$	30,643		$	32,816
	10.93		%	16.74		%	10.93		%	12.30		%	14.27		%	15.83		%	16.74		%
Nonperforming loans, leases and foreclosed properties (3)	$	5,628		$	8,681		$	5,628		$	6,589		$	7,373		$	8,321		$	8,681
	2.98		%	4.47		%	2.98		%	3.49		%	3.88		%	4.36		%	4.47		%
Average deposit balances
Interest-bearing	$	49,765		$	54,327		$	43,250		$	48,627		$	52,643		$	54,679		$	55,354
Noninterest-bearing	119,427			94,311			132,760			125,210			113,838			105,538			101,318
Total	$	169,192		$	148,638		$	176,010		$	173,837		$	166,481		$	160,217		$	156,672

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure is on an end-of-period basis and is also shown as a percentage of total reservable commercial utilized credit exposure, including loans and leases, standby letters of credit, financial guarantees, commercial letters of credit and bankers acceptances.

⁽³⁾  Nonperforming loans, leases and foreclosed properties are presented on an end-of-period basis. The nonperforming ratio is calculated as nonperforming loans, leases and foreclosed properties divided by loans, leases and foreclosed properties.

Certain prior period amounts have been reclassified among the segments to conform to 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 Banking & Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011				Second Quarter 2011				First Quarter 2011				Fourth Quarter 2010
	2011			2010
Net interest income (1)	$	7,401		$	8,000		$	1,733		$	1,846			$	1,787			$	2,035			$	1,989
Noninterest income:
Service charges	1,730			1,874			403			410				442				475				495
Investment and brokerage services	2,345			2,377			469			613				587				676				546
Investment banking fees	5,242			5,406			1,046			1,048				1,637				1,511				1,583
Trading account profits	6,573			9,689			261			1,621				2,070				2,621				961
All other income (loss)	327			603			(190		)	(316		)		269				564				(210		)
Total noninterest income	16,217			19,949			1,989			3,376				5,005				5,847				3,375
Total revenue, net of interest expense	23,618			27,949			3,722			5,222				6,792				7,882				5,364
Provision for credit losses	(296		)	(166		)	(27		)	15				(82		)		(202		)		(112		)
Noninterest expense	18,179			17,535			4,287			4,480				4,708				4,704				4,321
Income (loss) before income taxes	5,735			10,580			(538		)	727				2,166				3,380				1,155
Income tax expense (benefit) (1)	2,768			4,283			(105		)	1,029				607				1,237				486
Net income (loss)	$	2,967		$	6,297		$	(433	)	$	(302	)		$	1,559			$	2,143			$	669
Return on average equity	7.97		%	12.58		%	n/m			n/m				16.69		%		20.94		%		5.65		%
Return on average economic capital (2)	11.22			15.82			n/m			n/m				23.23				27.99				7.28
Efficiency ratio (1)	76.97			62.74			n/m			85.82		%	7.28	69.32			7.28	59.67			7.28	80.55
Balance sheet
Average
Total trading-related assets (3)	$	473,861		$	507,830		$	446,052		$	490,355			$	500,595			$	458,394			$	485,161
Total loans and leases	116,075			98,593			130,640			120,143				109,473				103,704				100,606
Total earning assets (4)	563,870			601,084			540,516			572,751				568,092				574,397				580,910
Total assets (4)	725,177			753,844			694,727			748,289				748,965				708,626				733,732
Total deposits	116,088			97,858			115,267			121,389				116,899				110,687				104,655
Allocated equity	37,233			50,037			33,707			36,372				37,458				41,491				46,935
Economic capital (2)	26,583			39,931			22,749			25,589				26,984				31,112				36,695
Period end
Total trading-related assets (3)	$	399,202		$	417,715		$	399,202		$	448,063			$	445,221			$	455,958			$	417,715
Total loans and leases	133,126			99,964			133,126			124,527				114,165				105,651				99,964
Total earning assets (4)	493,340			512,959			493,340			530,463				516,915				563,138				512,959
Total assets (4)	637,754			653,737			637,754			686,035				689,307				697,132				653,737
Total deposits	122,296			109,691			122,296			115,724				122,348				114,579				109,691
Trading-related assets (average)
Trading account securities	$	198,407		$	202,647		$	173,564		$	199,781			$	214,451			$	206,177			$	201,006
Reverse repurchases	165,639			185,038			162,537			174,610				173,403				151,788				166,070
Securities borrowed	48,425			54,586			47,190			47,314				54,044				45,140				51,294
Derivative assets	61,390			65,559			62,761			68,650				58,697				55,289				66,791
Total trading-related assets (3)	$	473,861		$	507,830		$	446,052		$	490,355			$	500,595			$	458,394			$	485,161

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

⁽³⁾  Includes assets which are not considered earning assets (i.e. derivative assets).

⁽⁴⁾  Total earning assets and total assets include asset allocations to match liabilities (i.e. deposits).

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Global Banking & Markets Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Sales and trading revenue
Fixed income, currency and commodities	$	8,868		$	12,857		$	723		$	1,820		$	2,686		$	3,639		$	1,667
Equity income	3,968			4,155			660			960			1,092			1,256			787
Total sales and trading revenue (1)	$	12,836		$	17,012		$	1,383		$	2,780		$	3,778		$	4,895		$	2,454
Investment banking fees (2)
Advisory (3)	$	1,246		$	1,018		$	273		$	273		$	381		$	319		$	336
Debt issuance	2,693			3,059			535			479			880			799			808
Equity issuance	1,303			1,329			238			296			376			393			439
Total investment banking fees	$	5,242		$	5,406		$	1,046		$	1,048		$	1,637		$	1,511		$	1,583
Global Corporate Banking
Business Lending	$	3,092		$	3,272		$	676		$	792		$	756		$	868		$	749
Treasury Services	2,448			2,259			617			602			621			608			578
Total revenue, net of interest expense	$	5,540		$	5,531		$	1,293		$	1,394		$	1,377		$	1,476		$	1,327
Global Corporate & Investment Banking Key Indicators
Average deposit balances
Interest-bearing	$	53,530		$	44,797		$	48,382		$	55,543		$	57,286		$	52,937		$	49,834
Noninterest-bearing	55,133			45,286			58,727			58,518			52,085			51,081			47,401
Total average deposits	$	108,663		$	90,083		$	107,109		$	114,061		$	109,371		$	104,018		$	97,235
Loan spread	1.68		%	1.81		%	1.43		%	1.52		%	1.57		%	2.29		%	1.62		%
Provision for credit losses	$	(234	)	$	(202	)	$	(4	)	$	8		$	(74	)	$	(164	)	$	(110	)
Credit quality (4, 5)
Reservable utilized criticized exposure	$	4,113		$	5,924		$	4,113		$	4,815		$	4,801		$	5,298		$	5,924
	3.32		%	5.67		%	3.32		%	4.01		%	4.26		%	4.87		%	5.67		%
Nonperforming loans, leases and foreclosed properties	$	318		$	645		$	318		$	336		$	327		$	314		$	645
	0.29		%	0.76		%	0.29		%	0.32		%	0.34		%	0.35		%	0.76		%
Average loans and leases by product
U.S. commercial	$	35,595		$	33,983		$	38,536		$	35,717		$	34,369		$	33,704		$	33,522
Commercial real estate	49			29			38			23			54			82			24
Commercial lease financing	23,166			23,392			23,050			23,101			23,041			23,478			23,271
Non-U.S. commercial	38,496			23,968			45,874			42,409			35,267			30,220			26,550
Other	40			43			35			38			41			46			42
Total average loans and leases	$	97,346		$	81,415		$	107,533		$	101,288		$	92,772		$	87,530		$	83,409
(1) Sales and trading revenue breakdown:
Net interest income	$	3,927		$	4,602		$	914		$	976		$	952		$	1,085		$	1,183
Commissions	2,330			2,360			465			610			583			672			542
Trading	6,427			9,595			228			1,581			2,031			2,587			925
Other	152			455			(224		)	(387		)	212			551			(196		)
Total sales and trading revenue	$	12,836		$	17,012		$	1,383		$	2,780		$	3,778		$	4,895		$	2,454

⁽²⁾  Includes self-led deals.

⁽³⁾  Advisory includes fees on debt and equity advisory and mergers and acquisitions.

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

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

Certain prior period amounts have been reclassified among the segments to conform to 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
Credit Default Swaps with Monoline Financial Guarantors(1)
(Dollars in millions)
	December 31, 2011
	Monoline Exposure
Notional	$	21,070
Mark-to-market or guarantor receivable	$	1,766
Credit valuation adjustment	(417		)
Total	$	1,349
Credit valuation adjustment %	24		%
Gains during the three months ended December 31, 2011	$	62
Gains during the year ended December 31, 2011	116
	September 30, 2011
	Monoline Exposure
Notional	$	22,079
Mark-to-market or guarantor receivable	$	1,933
Credit valuation adjustment	(500		)
Total	$	1,433
Credit valuation adjustment %	26		%
Losses during the three months ended September 30, 2011	$	(197	)
Gains during the nine months ended September 30, 2011	54

⁽¹⁾  During the three months ended September 30, 2011, we terminated all of our monoline contracts referencing super senior ABS CDOs.

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.    28

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Year Ended December 31, 2011
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
High-yield corporate debt	2	9.8	%	2	11.4	%
Leveraged loans	2	13.7		1	17.7
Mortgage-backed securities	1	10.7		1	12.6
Asset-backed securities	1	10.4		1	15.3
Convertible debt	5	5.8		5	8.8
Common stock underwriting	3	6.8		2	11.2
Investment grade corporate debt	2	6.1		2	13.1
Syndicated loans	2	9.5		2	18.8
Net investment banking revenue	2	7.3		2	11.6
Announced mergers and acquisitions	5	13.7		6	18.4
Equity capital markets	4	6.7		3	10.9
Debt capital markets	4	5.5		2	9.7

Source: Dealogic data as of January 4, 2012. Figures above include self-led transactions.

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

• Debt capital markets excludes loans but includes agencies.

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

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

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

Highlights

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

Top 3 rankings excluding self-led deals:

Global: Mortgage-backed securities, Asset-backed securities, Investment grade corporate debt, High-yield corporate debt, Leveraged loans, Common stock underwriting, Syndicated loans

US: Leveraged loans, Mortgage-backed securities, Asset-backed securities, Investment grade corporate debt, High-yield corporate debt, Common stock underwriting, Syndicated loans, Debt capital markets, Equity capital markets

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

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (1)	$	6,046		$	5,677		$	1,495		$	1,411		$	1,571		$	1,569		$	1,425
Noninterest income:
Investment and brokerage services	9,310			8,660			2,190			2,364			2,378			2,378			2,266
All other income	2,020			1,952			479			455			541			545			470
Total noninterest income	11,330			10,612			2,669			2,819			2,919			2,923			2,736
Total revenue, net of interest expense	17,376			16,289			4,164			4,230			4,490			4,492			4,161
Provision for credit losses	398			646			118			162			72			46			155
Noninterest expense	14,395			13,227			3,649			3,516			3,631			3,599			3,489
Income before income taxes	2,583			2,416			397			552			787			847			517
Income tax expense (1)	948			1,076			148			205			281			314			198
Net income	$	1,635		$	1,340		$	249		$	347		$	506		$	533		$	319
Net interest yield (1)	2.24		%	2.31		%	2.24		%	2.06		%	2.34		%	2.30		%	2.10		%
Return on average equity	9.19			7.42			5.54			7.72			11.54			12.06			6.94
Return on average economic capital (2)	23.44			19.57			14.13			19.66			29.97			30.46			17.97
Efficiency ratio (1)	82.84			81.20			87.63			83.12			80.87			80.12			83.86
Balance sheet
Average
Total loans and leases	$	102,143		$	99,269		$	102,708		$	102,785		$	102,200		$	100,851		$	100,306
Total earning assets (3)	270,423			246,236			264,889			270,972			268,967			276,992			268,872
Total assets (3)	290,357			267,163			284,418			290,764			289,049			297,335			289,643
Total deposits	254,777			232,318			249,814			255,658			255,205			258,517			246,281
Allocated equity	17,802			18,068			17,860			17,839			17,574			17,938			18,227
Economic capital (2)	7,106			7,290			7,196			7,148			6,868			7,210			7,475
Period end
Total loans and leases	$	103,459		$	100,724		$	103,459		$	102,361		$	102,878		$	101,286		$	100,724
Total earning assets (3)	263,347			275,260			263,347			260,706			263,865			264,753			275,260
Total assets (3)	283,844			296,251			283,844			280,686			284,293			285,472			296,251
Total deposits	253,029			257,982			253,029			251,027			255,571			256,523			257,982

⁽¹⁾  Fully taxable-equivalent basis

⁽²⁾  Return on average economic capital is calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-47.)

⁽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.    30

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management - Key Indicators and Metrics
(Dollars in millions, except as noted)
	Year Ended December 31						Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Revenues
Merrill Lynch Global Wealth Management	$	13,541		$	12,524		$	3,212	$	3,329		$	3,490		$	3,510		$	3,285
U.S. Trust	2,693			2,661			679		626			706			682			666
Retirement Services	1,049			948			245		259			273			272			224
Other (1)	93			156			28		16			21			28			(14		)
Total revenues	$	17,376		$	16,289		$	4,164	$	4,230		$	4,490		$	4,492		$	4,161
Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,502,760		$	1,515,896		$	1,502,760	$	1,452,081		$	1,539,789		$	1,554,291		$	1,515,896
U.S. Trust	324,002			340,341			324,002		315,242			341,911			345,092			340,341
Retirement Services	242,852			246,774			242,852		230,822			252,379			255,573			246,774
Other (1)	66,182			78,275			66,182		65,153			67,875			71,759			78,275
Client Balances by Type
Assets under management	$	647,126		$	643,343		$	647,126	$	616,899		$	661,010		$	664,554		$	643,343
Client brokerage assets	1,024,193			1,064,516			1,024,193		986,718			1,065,996			1,087,536			1,064,516
Assets in custody	107,989			114,721			107,989		106,293			116,499			116,816			114,721
Client deposits	253,029			257,982			253,029		251,027			255,571			256,523			257,982
Loans and leases	103,459			100,724			103,459		102,361			102,878			101,286			100,724
Total client balances	$	2,135,796		$	2,181,286		$	2,135,796	$	2,063,298		$	2,201,954		$	2,226,715		$	2,181,286
Assets Under Management Flows (2)
Liquidity assets under management (3)	$	(11,969	)	$	(41,715	)	$	1,029	$	(2,568	)	$	(3,771	)	$	(6,659	)	$	(8,050	)
Long-term assets under management (4)	27,649			14,081			4,462		4,493			4,535			14,159			5,648
Total assets under management flows	$	15,680		$	(27,634	)	$	5,491	$	1,925		$	764		$	7,500		$	(2,402	)
Associates (5)
Number of Financial Advisors	17,308			15,611			17,308		17,094			16,443			15,797			15,611
Total Wealth Advisors	18,667			17,041			18,667		18,498			17,836			17,217			17,041
Total Client Facing Professionals	21,785			20,143			21,785		21,622			20,955			20,345			20,143
Merrill Lynch Global Wealth Management Metrics
Financial Advisory Productivity (6) (in thousands)	$	873		$	850		$	819	$	854		$	893		$	931		$	913
U.S. Trust Metrics
Client Facing Professionals	2,248			2,311			2,248		2,271			2,280			2,313			2,311

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

⁽²⁾  Includes the Columbia Management long-term asset management business through the date of sale on May 1, 2010.

⁽³⁾  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 are less than one year.

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

⁽⁵⁾  Includes Merrill Edge ^® 

⁽⁶⁾  Financial Advisor Productivity is defined as annualized MLGWM total revenue divided by the total number of financial advisors (excluding Merrill Edge Financial Advisors).

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

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

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Net interest income (2)	$	1,780		$	3,656		$	403		$	7		$	543		$	827		$	888
Noninterest income:
Card income (3)	465			615			90			72			149			154			157
Equity investment income	7,037			4,549			3,107			1,381			1,137			1,412			1,499
Gains on sales of debt securities	3,098			2,313			1,102			697			831			468			858
All other income (loss)	2,821			(1,438		)	(414		)	4,114			(112		)	(767		)	(1,713		)
Total noninterest income	13,421			6,039			3,885			6,264			2,005			1,267			801
Total revenue, net of interest expense	15,201			9,695			4,288			6,271			2,548			2,094			1,689
Provision for credit losses	6,173			6,323			793			1,373			1,842			2,165			2,137
Goodwill impairment	581			—			581			—			—			—			—
Merger and restructuring charges	638			1,820			101			176			159			202			370
All other noninterest expense	3,697			3,957			1,078			487			503			1,629			910
Income (loss) before income taxes	4,112			(2,405		)	1,735			4,235			44			(1,902		)	(1,728		)
Income tax expense (benefit) (2)	(879		)	(3,877		)	312			(500		)	160			(851		)	(2,291		)
Net income (loss)	$	4,991		$	1,472		$	1,423		$	4,735		$	(116	)	$	(1,051	)	$	563
Balance sheet
Average
Total loans and leases	$	283,890		$	281,642		$	272,807		$	286,753		$	287,840		$	288,301		$	282,125
Total assets (4)	205,189			293,577			183,667			203,780			200,707			233,158			238,947
Total deposits	49,283			67,945			46,057			52,855			48,107			50,121			55,301
Allocated equity (5)	72,128			38,884			76,721			68,658			77,746			65,299			55,410
Period end
Total loans and leases	$	267,621		$	285,087		$	267,621		$	274,269		$	287,424		$	286,530		$	285,087
Total assets (6)	180,435			210,257			180,435			201,576			242,185			188,838			210,257
Total deposits	32,870			40,142			32,870			52,947			43,768			35,615			40,142

⁽¹⁾  All Other consists of two broad groupings, Equity Investments and Other. Equity Investments includes Global Principal Investments, Strategic and other investments, and Corporate Investments. BlackRock, Inc., previously included in Strategic and other investments, was sold during 2011. Substantially all of the equity investments in Corporate Investments were sold during 2010. Other includes liquidating businesses, merger and restructuring charges, ALM functions (i.e., residential mortgage portfolio and investment securities) and related activities (i.e., economic hedges, fair value option on structured liabilities), and the impact of certain allocation methodologies. Other also includes certain residential mortgage and discontinued real estate products that are managed by Legacy Asset Servicing within Consumer Real Estate Services.

⁽²⁾  Fully taxable-equivalent basis

⁽³⁾  During the third quarter of 2011, as a result of the decision to exit the international consumer card businesses, the international consumer card business results were moved to All Other from Card Services and prior periods were reclassified.

⁽⁴⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $662.2 billion and $613.3 billion for the years ended December 31, 2011 and 2010; $645.8 billion, $661.7 billion, $675.2 billion, $666.4 billion and $650.3 billion for the fourth, third, second, and first quarters of 2011 and fourth quarter of 2010, respectively.

⁽⁵⁾  Represents both the risk-based capital and the portion of goodwill and intangibles assigned to All Other as well as the remaining portion of equity not specifically allocated to the business segments.

⁽⁶⁾  Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $531.7 billion, $507.4 billion, $489.9 billion, $484.6 billion and $476.5 billion at December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010, 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.    32

Bank of America Corporation and Subsidiaries
Equity Investments
(Dollars in millions)
	Global Principal Investments Exposures								Equity  Investment Income
	December 31, 2011						September 30, 2011		December 31, 2011
	Book Value		Unfunded Commitments		Total		Total		Three Months Ended			Year Ended
Global Principal Investments:
Private Equity Investments	$	1,548	$	73	$	1,621	$	1,964	$	157		$	196
Global Real Estate	914		170		1,084		1,511		17			232
Global Strategic Capital	1,718		146		1,864		2,427		(17		)	133
Legacy/Other Investments	1,447		320		1,767		1,861		52			(169		)
Total Global Principal Investments	$	5,627	$	709	$	6,336	$	7,763	$	209		$	392

Components of Equity Investment Income
(Dollars in millions)
	Year Ended December 31					Fourth Quarter 2011		Third Quarter 2011			Second Quarter 2011		First Quarter 2011		Fourth Quarter 2010
	2011		2010
Global Principal Investments	$	392	$	2,299		$	209	$	(1,578	)	$	398	$	1,363	$	866
Corporate Investments	—		(293		)	—		—			—		—		6
Strategic and other investments (1)	6,645		2,543			2,898		2,959			739		49		627
Total equity investment income included in All Other	7,037		4,549			3,107		1,381			1,137		1,412		1,499
Total equity investment income included in the business segments	323		711			120		65			75		63		13
Total consolidated equity investment income	$	7,360	$	5,260		$	3,227	$	1,446		$	1,212	$	1,475	$	1,512

⁽¹⁾  Includes the Corporation’s equity investment interest in BlackRock prior to its sale in the second quarter of 2011, China Construction Bank and Banc of America Merchant Services, LLC.

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

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

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	December 31 2011		September 30 2011		Increase (Decrease)
Consumer
Residential mortgage (1)	$	262,290	$	266,516	$	(4,226	)
Home equity	124,699		127,736		(3,037		)
Discontinued real estate (2)	11,095		11,541		(446		)
U.S. credit card	102,291		102,803		(512		)
Non-U.S. credit card	14,418		16,086		(1,668		)
Direct/Indirect consumer (3)	89,713		90,474		(761		)
Other consumer (4)	2,688		2,810		(122		)
Total consumer loans excluding loans accounted for under the fair value option	607,194		617,966		(10,772		)
Consumer loans accounted for under the fair value option (5)	2,190		4,741		(2,551		)
Total consumer	609,384		622,707		(13,323		)
Commercial
U.S. commercial (6)	193,199		192,642		557
Commercial real estate (7)	39,596		40,888		(1,292		)
Commercial lease financing	21,989		21,350		639
Non-U.S. commercial	55,418		48,461		6,957
Total commercial loans excluding loans accounted for under the option	310,202		303,341		6,861
Commercial loans accounted for under the fair value option (5)	6,614		6,483		131
Total commercial	316,816		309,824		6,992
Total loans and leases	$	926,200	$	932,531	$	(6,331	)

⁽¹⁾  Includes non-U.S. residential mortgages of $85 million and $86 million at December 31, 2011 and September 30, 2011.

⁽²⁾  Includes $9.9 billion and $10.3 billion of pay option loans, and $1.2 billion and $1.2 billion of subprime loans at December 31, 2011 and September 30, 2011. The Corporation no longer originates these products.

⁽³⁾  Includes dealer financial services loans of $43.0 billion and $43.6 billion, consumer lending of $8.0 billion and $8.9 billion, U.S. securities-based lending margin loans of $23.6 billion and $22.3 billion, student loans of $6.0 billion and $6.1 billion, non-U.S. consumer loans of $7.6 billion and $7.8 billion, and other consumer loans of $1.5 billion and $1.8 billion at December 31, 2011 and September 30, 2011.

⁽⁴⁾  Includes consumer finance loans of $1.7 billion and $1.7 billion, other non-U.S. consumer loans of $929 million and $992 million, and consumer overdrafts of $103 million and $94 million at December 31, 2011 and September 30, 2011.

⁽⁵⁾  Certain consumer loans are accounted for under the fair value option and include residential mortgages of $906 million and $1.3 billion and discontinued real estate of $1.3 billion and $3.4 billion at December 31, 2011 and September 30, 2011. Certain commercial loans are accounted for under the fair value option and include U.S. commercial loans of $2.2 billion and $1.9 billion, commercial real estate loans of $0 and $75 million, and non-U.S. commercial loans of $4.4 billion and $4.5 billion at December 31, 2011 and September 30, 2011.

⁽⁶⁾  Includes U.S. small business commercial loans, including card related products, of $13.3 billion and $13.6 billion at December 31, 2011 and September 30, 2011.

⁽⁷⁾  Includes U.S. commercial real estate loans of $37.8 billion and $39.3 billion, and non-U.S. commercial real estate loans of $1.8 billion and $1.6 billion at December 31, 2011 and September 30, 2011.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Fourth Quarter 2011
	Total Corporation		Deposits		Card Services		Consumer Real Estate Services		Global Commercial Banking		Global Banking & Markets		GWIM		All  Other
Consumer
Residential mortgage	$	266,144	$	—	$	—	$	1,106	$	63	$	95	$	37,025	$	227,855
Home equity	126,251		—		—		111,138		94		—		14,805		214
Discontinued real estate	14,073		—		—		2,848		—		—		—		11,225
U.S. credit card	102,241		—		102,241		—		—		—		—		—
Non-U.S. credit card	15,981		—		—		—		—		—		—		15,981
Direct/Indirect consumer	90,861		46		8,472		93		43,454		726		31,984		6,086
Other consumer	2,751		500		3		—		—		3		12		2,233
Total consumer	618,302		546		110,716		115,185		43,611		824		83,826		263,594
Commercial
U.S. commercial	196,778		175		10,097		1,806		106,498		52,761		17,111		8,330
Commercial real estate	40,673		—		311		2		36,292		903		1,589		1,576
Commercial lease financing	21,278		—		—		—		—		23,050		4		(1,776		)
Non-U.S. commercial	55,867		—		—		—		1,504		53,102		178		1,083
Total commercial	314,596		175		10,408		1,808		144,294		129,816		18,882		9,213
Total loans and leases	$	932,898	$	721	$	121,124	$	116,993	$	187,905	$	130,640	$	102,708	$	272,807
	Third Quarter 2011
	Total Corporation		Deposits		Card Services		Consumer Real Estate Services		Global Commercial Banking		Global Banking & Markets		GWIM		All  Other
Consumer
Residential mortgage	$	268,494	$	—	$	—	$	1,196	$	209	$	99	$	36,656	$	230,334
Home equity	129,125		—		—		112,781		1,080		—		15,029		235
Discontinued real estate	15,923		—		—		4,052		—		—		—		11,871
U.S. credit card	103,671		—		103,671		—		—		—		—		—
Non-U.S. credit card	25,434		—		—		—		—		—		—		25,434
Direct/Indirect consumer	90,280		49		9,415		100		42,282		505		31,390		6,539
Other consumer	2,795		475		—		—		—		5		13		2,302
Total consumer	635,722		524		113,086		118,129		43,571		609		83,088		276,715
Commercial
U.S. commercial	191,439		163		10,167		1,949		104,646		47,809		17,829		8,876
Commercial real estate	42,931		—		294		1		38,189		930		1,653		1,864
Commercial lease financing	21,342		—		—		—		—		23,102		19		(1,779		)
Non-U.S. commercial	50,598		1		—		—		1,631		47,693		196		1,077
Total commercial	306,310		164		10,461		1,950		144,466		119,534		19,697		10,038
Total loans and leases	$	942,032	$	688	$	123,547	$	120,079	$	188,037	$	120,143	$	102,785	$	286,753
	Fourth Quarter 2010
	Total Corporation		Deposits		Card Services		Consumer Real Estate Services		Global Commercial Banking		Global Banking & Markets		GWIM		All  Other
Consumer
Residential mortgage	$	254,051	$	—	$	—	$	—	$	282	$	104	$	35,327	$	218,338
Home equity	139,772		—		—		122,164		974		—		16,004		630
Discontinued real estate	13,297		—		—		—		—		—		—		13,297
U.S. credit card	112,673		—		112,673		—		—		—		—		—
Non-U.S. credit card	27,457		—		—		—		—		—		—		27,457
Direct/Indirect consumer	91,549		60		13,101		107		44,185		302		26,225		7,569
Other consumer	2,796		318		—		—		—		5		17		2,456
Total consumer	641,595		378		125,774		122,271		45,441		411		77,573		269,747
Commercial
U.S. commercial	193,608		231		10,730		2,656		102,914		46,386		20,711		9,980
Commercial real estate	51,617		4		234		6		45,854		952		1,829		2,738
Commercial lease financing	21,363		—		—		—		—		23,271		35		(1,943		)
Non-U.S. commercial	32,431		—		—		—		1,084		29,586		158		1,603
Total commercial	299,019		235		10,964		2,662		149,852		100,195		22,733		12,378
Total loans and leases	$	940,614	$	613	$	136,738	$	124,933	$	195,293	$	100,606	$	100,306	$	282,125

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.    35

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3)
(Dollars in millions)
	Commercial Utilized							Total Commercial Committed
	December 31 2011		September 30 2011		Increase (Decrease)			December 31 2011			September 30 2011			Increase (Decrease)
Diversified financials	$	62,025	$	65,674	$	(3,649	)	$	92,037		$	92,226		$	(189	)
Real estate (4)	47,689		49,924		(2,235		)	62,117			63,168			(1,051		)
Government and public education	43,090		45,111		(2,021		)	57,021			60,001			(2,980		)
Healthcare equipment and services	31,298		30,901		397			48,141			47,916			225
Capital goods	24,025		23,746		279			48,013			47,351			662
Retailing	25,478		25,825		(347		)	46,290			46,600			(310		)
Banks	35,231		36,285		(1,054		)	38,735			40,221			(1,486		)
Consumer services	24,445		23,828		617			38,498			37,987			511
Materials	19,384		18,807		577			38,070			37,399			671
Energy	15,151		14,068		1,083			32,074			31,031			1,043
Commercial services and supplies	20,089		21,010		(921		)	30,831			31,467			(636		)
Food, beverage and tobacco	15,904		14,682		1,222			30,501			28,825			1,676
Utilities	8,102		7,398		704			24,552			24,773			(221		)
Media	11,447		11,220		227			21,158			20,766			392
Transportation	12,683		11,867		816			19,036			18,080			956
Individuals and trusts	14,987		15,398		(411		)	18,995			19,335			(340		)
Insurance, including monolines	10,090		10,776		(686		)	16,157			17,719			(1,562		)
Technology hardware and equipment	5,247		4,900		347			12,173			11,676			497
Pharmaceuticals and biotechnology	4,141		3,784		357			11,328			11,026			302
Religious and social organizations	8,536		8,547		(11		)	11,160			11,091			69
Telecommunication services	4,297		4,368		(71		)	10,424			10,508			(84		)
Software and services	4,304		3,568		736			9,579			9,003			576
Consumer durables and apparel	4,505		4,648		(143		)	8,965			9,221			(256		)
Automobiles and components	2,813		2,825		(12		)	7,178			7,356			(178		)
Food and staples retailing	3,273		3,540		(267		)	6,476			6,445			31
Other	8,275		4,827		3,448			11,023			7,354			3,669
Total commercial credit exposure by industry	$	466,509	$	467,527	$	(1,018	)	$	750,532		$	748,545		$	1,987
Net credit default protection purchased on total commitments (5)								$	(19,356	)	$	(21,602	)

⁽¹⁾  Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $58.9 billion and $65.6 billion at December 31, 2011 and September 30, 2011. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $16.1 billion and $17.0 billion which consists primarily of other marketable securities at December 31, 2011 and September 30, 2011.

⁽²⁾  Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value and are comprised of loans outstanding of $6.6 billion and $6.5 billion and issued letters of credit at notional value of $1.3 billion and $1.2 billion at December 31, 2011 and September 30, 2011. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $24.4 billion and $26.5 billion at December 31, 2011 and September 30, 2011.

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

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

⁽⁵⁾  Represents net notional credit protection purchased.

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

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

Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile (1)
	December 31 2011		September 30 2011
Less than or equal to one year	16	%	17	%
Greater than one year and less than or equal to five years	77		76
Greater than five years	7		7
Total net credit default protection	100	%	100	%

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

Net Credit Default Protection by Credit Exposure Debt Rating (1, 2)
(Dollars in millions)
	December 31, 2011					September 30, 2011
Ratings (3)	Net Notional			Percent		Net Notional			Percent
AAA	$	(32	)	0.2	%	$	(100	)	0.5	%
AA	(779		)	4.0		(823		)	3.8
A	(7,184		)	37.1		(7,669		)	35.5
BBB	(7,436		)	38.4		(8,161		)	37.8
BB	(1,527		)	7.9		(1,809		)	8.4
B	(1,534		)	7.9		(1,653		)	7.7
CCC and below	(661		)	3.4		(732		)	3.4
NR (4)	(203		)	1.1		(655		)	2.9
Total net credit default protection	$	(19,356	)	100.0	%	$	(21,602	)	100.0	%

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

⁽²⁾  Ratings are refreshed on a quarterly basis.

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

⁽⁴⁾  In addition to names which have not been rated, “NR” includes $(15) million and $(469) million in net credit default swap index positions at December 31, 2011 and September 30, 2011. While index positions are principally investment-grade, credit default swaps indices include names in and across each of the ratings categories.

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

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

Bank of America Corporation and Subsidiaries
Selected Emerging Markets (1)
(Dollars in millions)	Loans and Leases, and Loan Commitments		Other Financing (2)		Derivative Assets (3)		Securities / Other Investments (4)		Total Cross-border Exposure (5)		Local Country Exposure Net of Local Liabilities (6)		Total Emerging Markets Exposure at December 31, 2011		Increase (Decrease) from September 30, 2011
Region/Country
Asia Pacific
India	$	4,737	$	1,686	$	1,078	$	2,272	$	9,773	$	712	$	10,485	$	(213	)
South Korea	1,642		1,228		690		2,207		5,767		1,795		7,562		414
China (7)	3,907		315		1,276		1,751		7,249		83		7,332		(7,682		)
Hong Kong	417		276		179		1,074		1,946		1,259		3,205		(229		)
Singapore	514		130		479		1,932		3,055		—		3,055		(178		)
Taiwan	573		35		80		672		1,360		1,191		2,551		(295		)
Thailand	29		8		44		613		694		—		694		(282		)
Other Asia Pacific (8)	663		356		174		682		1,875		35		1,910		42
Total Asia Pacific	$	12,482	$	4,034	$	4,000	$	11,203	$	31,719	$	5,075	$	36,794	$	(8,423	)
Latin America
Brazil	$	1,965	$	374	$	436	$	3,346	$	6,121	$	3,010	$	9,131	$	214
Mexico	2,381		305		309		996		3,991		—		3,991		(1,865		)
Chile	1,100		180		314		22		1,616		29		1,645		(283		)
Colombia	360		114		15		29		518		—		518		13
Other Latin America (8)	255		218		32		334		839		154		993		(291		)
Total Latin America	$	6,061	$	1,191	$	1,106	$	4,727	$	13,085	$	3,193	$	16,278	$	(2,212	)
Middle East and Africa
United Arab Emirates	$	1,134	$	87	$	461	$	12	$	1,694	$	—	$	1,694	$	156
Bahrain	79		1		2		907		989		3		992		—
South Africa	498		53		48		54		653		—		653		85
Other Middle East and Africa (8)	759		71		116		303		1,249		26		1,275		(184		)
Total Middle East and Africa	$	2,470	$	212	$	627	$	1,276	$	4,585	$	29	$	4,614	$	57
Central and Eastern Europe
Russian Federation	$	1,596	$	145	$	22	$	96	$	1,859	$	17	$	1,876	$	167
Turkey	553		81		10		344		988		217		1,205		328
Other Central and Eastern Europe (8)	109		143		290		328		870		—		870		(127		)
Total Central and Eastern Europe	$	2,258	$	369	$	322	$	768	$	3,717	$	234	$	3,951	$	368
Total emerging markets exposure	$	23,271	$	5,806	$	6,055	$	17,974	$	53,106	$	8,531	$	61,637	$	(10,210	)

⁽¹⁾  There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe. At both December 31, 2011 and September 30, 2011, there was $1.7 billion in emerging market exposure accounted for under the fair value option.

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

⁽³⁾  Derivative assets are carried at fair value and have been reduced by the amount of cash collateral applied of $1.2 billion and $1.9 billion at December 31, 2011 and September 30, 2011. At December 31, 2011 and September 30, 2011, there were $353 million and $756 million of other marketable securities collateralizing derivative assets.

⁽⁴⁾  Generally, cross-border resale agreements are presented based on the domicile of the counterparty, consistent with Federal Financial Institutions Examination Council (FFIEC) reporting requirements. Cross-border resale agreements where the underlying securities are U.S. Treasury securities, in which case the domicile is the U.S., are excluded from this presentation.

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

⁽⁶⁾  Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked. Local funding or liabilities are subtracted from local exposures consistent with FFIEC reporting requirements. Total amount of available local liabilities funding local country exposure was $18.7 billion and $17.1 billion at December 31, 2011 and September 30, 2011. Local liabilities at December 31, 2011 in Asia Pacific, Latin America, and Middle East and Africa were $17.3 billion, $1.0 billion and $278 million, respectively, of which $9.2 billion was in Singapore, $2.3 billion in China, $2.2 billion in Hong Kong, $1.3 billion in India, $973 million in Mexico, and $804 million in Korea. There were no other countries with available local liabilities funding localcountry exposure greater than $500 million.

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

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

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

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

Bank of America Corporation and Subsidiaries
Selected European Countries
(Dollars in millions)	Loans and Leases, and Loan Commitments		Other Financing (1)		Derivative Assets (2)		Securities/ Other Investments (3)		Total Cross-border Exposure (4)		Local Country Exposure Net of Local Liabilities (5)		Total Non-U.S. Exposure at December 31, 2011 (6)		Increase (Decrease) From September 30, 2011			Credit Default Protection December 31, 2011 (7)
Greece
Sovereign	$	—	$	—	$	—	$	34	$	34	$	—	$	34	$	19		$	(17	)
Financial Institutions	—		—		3		10		13		—		13		—			—
Corporates	382		4		33		7		426		—		426		(31		)	—
Total Greece	$	382	$	4	$	36	$	51	$	473	$	—	$	473	$	(12	)	$	(17	)
Ireland
Sovereign	$	2	$	—	$	12	$	24	$	38	$	—	$	38	$	22		$	—
Financial Institutions	46		31		173		470		720		—		720		(567		)	(28		)
Corporates	864		42		100		57		1,063		—		1,063		(401		)	—
Total Ireland	$	912	$	73	$	285	$	551	$	1,821	$	—	$	1,821	$	(946	)	$	(28	)
Italy
Sovereign	$	—	$	—	$	1,542	$	29	$	1,571	$	—	$	1,571	$	41		$	(1,247	)
Financial Institutions	1,105		738		139		83		2,065		310		2,375		1,423			(123		)
Corporates	421		37		541		259		1,258		2,698		3,956		(100		)	(171		)
Total Italy	$	1,526	$	775	$	2,222	$	371	$	4,894	$	3,008	$	7,902	$	1,364		$	(1,541	)
Portugal
Sovereign	$	—	$	—	$	41	$	—	$	41	$	—	$	41	$	5		$	(34	)
Financial Institutions	13		21		2		35		71		—		71		9			—
Corporates	231		—		21		15		267		—		267		3			—
Total Portugal	$	244	$	21	$	64	$	50	$	379	$	—	$	379	$	17		$	(34	)
Spain
Sovereign	$	25	$	—	$	71	$	2	$	98	$	55	$	153	$	20		$	(46	)
Financial Institutions	402		21		143		487		1,053		43		1,096		179			(65		)
Corporates	604		52		112		121		889		1,676		2,565		(867		)	(9		)
Total Spain	$	1,031	$	73	$	326	$	610	$	2,040	$	1,774	$	3,814	$	(668	)	$	(120	)
Total
Sovereign	$	27	$	—	$	1,666	$	89	$	1,782	$	55	$	1,837	$	107		$	(1,344	)
Financial Institutions	1,566		811		460		1,085		3,922		353		4,275		1,044			(216		)
Corporates	2,502		135		807		459		3,903		4,374		8,277		(1,396		)	(180		)
Total selected European exposure	$	4,095	$	946	$	2,933	$	1,633	$	9,607	$	4,782	$	14,389	$	(245	)	$	(1,740	)

⁽¹⁾  Includes acceptances, due froms, standby letters of credit, commercial letters of credit and formal guarantees.

⁽²⁾  Derivative assets are carried at fair value and have been reduced by the amount of cash collateral applied of $3.5 billion at December 31, 2011. At December 31, 2011, there was $83 million of other marketable securities collateralizing derivative assets.

⁽³⁾  Includes $369 million in notional value of reverse repurchase agreements, which are presented based on the domicile of the counterparty consistent with FFIEC reporting requirements. Cross-border resale agreements where the underlying collateral is U.S. Treasury securities are excluded from this presentation.

⁽⁴⁾  Cross-border exposure includes amounts payable to the Corporation by borrowers or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting requirements.

⁽⁵⁾  Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked. Local funding or liabilities of $939 million are subtracted from local exposures consistent with FFIEC reporting requirements. Of the $939 million applied for exposure reduction, $562 million was for Ireland, $217 million for Italy, $126 million for Spain and $34 million for Greece.

⁽⁶⁾  Includes $3.0 billion in unfunded commitments of which $97 million was for Greece, $174 million for Ireland, $1.7 billion for Italy, $73 million for Portugal and $884 million for Spain.

⁽⁷⁾  Represents net notional credit default protection purchased to hedge derivative assets. At December 31, 2011, the fair value of protection purchased to hedge derivative assets was $(6) million for Greece, $(27) million for Ireland, $(1.2) billion for Italy, $(23) million for Portugal and $(112) million for Spain. The effectiveness of credit default swap protection as a hedge is influenced by a number of factors, including the contractual terms of the credit default swap. Generally, only the occurrence of a credit event as defined by the credit default swap terms (which may include, among other events, the failure to pay by, or restructuring of, the reference entity) results in a payment under the purchased credit protection contracts. Whether a credit event has occurred is determined by the relevant International Swaps and Derivatives Association, Inc. (ISDA) Determination Committee (comprised of various ISDA member firms) based on the terms of the credit default swap and facts and circumstances for the event. Accordingly, the Corporation's credit protection contracts may not protect against a loss because the contracts only pay out under certain scenarios.

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
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	December 31 2011			September 30 2011			June 30 2011			March 31 2011			December 31 2010
Residential mortgage	$	15,970		$	16,430		$	16,726		$	17,466		$	17,691
Home equity	2,453			2,333			2,345			2,559			2,694
Discontinued real estate	290			308			324			327			331
Direct/Indirect consumer	40			52			58			68			90
Other consumer	15			24			25			36			48
Total consumer	18,768			19,147			19,478			20,456			20,854
U.S. commercial	2,174			2,518			2,767			3,056			3,453
Commercial real estate	3,880			4,474			5,051			5,695			5,829
Commercial lease financing	26			23			23			53			117
Non-U.S. commercial	143			145			108			155			233
	6,223			7,160			7,949			8,959			9,632
U.S. small business commercial	114			139			156			172			204
Total commercial	6,337			7,299			8,105			9,131			9,836
Total nonperforming loans and leases	25,105			26,446			27,583			29,587			30,690
Foreclosed properties	2,603			2,613			2,475			2,056			1,974
Total nonperforming loans, leases and foreclosed properties (1, 2, 3)	$	27,708		$	29,059		$	30,058		$	31,643		$	32,664
Fully-insured home loans past due 90 days or more and still accruing	$	21,164		$	20,299		$	20,047		$	19,754		$	16,768
Consumer credit card past due 90 days or more and still accruing	2,412			2,544			3,020			3,570			3,919
Other loans past due 90 days or more and still accruing	1,060			1,163			1,223			1,559			1,692
Total loans past due 90 days or more and still accruing (2, 4, 5)	$	24,636		$	24,006		$	24,290		$	24,883		$	22,379
Nonperforming loans, leases and foreclosed properties/Total assets (6)	1.31		%	1.32		%	1.33		%	1.39		%	1.44		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (6)	3.01			3.15			3.22			3.40			3.48
Nonperforming loans and leases/Total loans and leases (6)	2.74			2.87			2.96			3.19			3.27
Commercial utilized reservable criticized exposure (7)	$	27,247		$	30,901		$	35,110		$	39,435		$	42,621
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (7)	7.41		%	8.51		%	9.73		%	10.94		%	11.80		%
Total commercial utilized criticized exposure/Commercial utilized exposure (7)	7.47			8.35			10.80			11.73			12.43

⁽¹⁾  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.

⁽²⁾  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.

(3) Balances do not include the following:	December 31 2011		September 30 2011		June 30 2011		March 31 2011		December 31 2010
Nonperforming loans held-for-sale	$	1,793	$	1,814	$	2,119	$	2,421	$	2,540
Nonperforming loans accounted for under the fair value option	786		2,032		2,389		15		30
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	477		474		465		456		426

⁽⁴⁾  Balances do not include loans held-for-sale past due 90 days or more and still accruing of $41 million, $67 million, $19 million, $48 million and $60 million at December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010, respectively. At December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010 there were no loans accounted for under the fair value option past due 90 days or more and still accruing interest.

⁽⁵⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁶⁾ Total assets and total loans and leases do not include loans accounted for under the fair value option of $8.8 billion, $11.2 billion, $9.6 billion, $3.7 billion and $3.3 billion at December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010, respectively.

⁽⁷⁾ 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.    40

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
Nonperforming Consumer Loans:
Balance, beginning of period	$	19,147		$	19,478		$	20,456		$	20,854		$	21,429
Additions to nonperforming loans:
New nonaccrual loans	3,757			4,036			3,803			4,127			4,568
Reductions in nonperforming loans:
Paydowns and payoffs	(803		)	(944		)	(792		)	(779		)	(739		)
Returns to performing status (2)	(1,018		)	(1,072		)	(1,311		)	(1,340		)	(1,841		)
Charge-offs (3)	(1,833		)	(1,972		)	(2,270		)	(2,020		)	(2,261		)
Transfers to foreclosed properties	(482		)	(379		)	(408		)	(386		)	(302		)
Total net reductions to nonperforming loans	(379		)	(331		)	(978		)	(398		)	(575		)
Total nonperforming consumer loans, end of period	18,768			19,147			19,478			20,456			20,854
Foreclosed properties	1,991			1,892			1,797			1,331			1,249
Total nonperforming consumer loans and foreclosed properties, end of period	$	20,759		$	21,039		$	21,275		$	21,787		$	22,103
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	7,299		$	8,105		$	9,131		$	9,836		$	10,867
Additions to nonperforming loans and leases:
New nonaccrual loans and leases	1,084			1,231			1,042			1,299			1,820
Advances	20			18			52			67			102
Reductions in nonperforming loans and leases:
Paydowns and payoffs	(949		)	(721		)	(1,023		)	(764		)	(1,113		)
Sales	(211		)	(554		)	(141		)	(247		)	(228		)
Return to performing status (5)	(358		)	(143		)	(362		)	(320		)	(465		)
Charge-offs (6)	(386		)	(412		)	(290		)	(488		)	(767		)
Transfers to foreclosed properties	(128		)	(205		)	(241		)	(200		)	(304		)
Transfers to loans held-for-sale	(34		)	(20		)	(63		)	(52		)	(76		)
Total net reductions in nonperforming loans and leases	(962		)	(806		)	(1,026		)	(705		)	(1,031		)
Total nonperforming commercial loans and leases, end of period	6,337			7,299			8,105			9,131			9,836
Foreclosed properties	612			721			678			725			725
Total nonperforming commercial loans, leases and foreclosed properties, end of period	$	6,949		$	8,020		$	8,783		$	9,856		$	10,561

⁽¹⁾  For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 40.

⁽²⁾ 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.

⁽³⁾   Our policy is not to classify consumer credit card and consumer loans not secured by real estate as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and therefore are excluded from this table.

⁽⁴⁾ Includes U.S. small business commercial activity.

⁽⁵⁾ 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.

⁽⁶⁾ Business card loans are not classified as nonperforming; therefore, the charge-offs on these loans have no impact on nonperforming activity and accordingly are excluded from this table.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Fourth Quarter 2011					Third Quarter 2011					Second Quarter 2011					First Quarter 2011					Fourth Quarter 2010
Net Charge-offs	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount		Percent
Residential mortgage	$	834		1.25	%	$	989		1.47	%	$	1,104		1.67	%	$	905		1.40	%	$	970	1.51	%
Home equity	939			2.95		1,092			3.35		1,263			3.84		1,179			3.51		1,271		3.61
Discontinued real estate	22			0.76		24			0.80		26			0.84		20			0.61		11		0.35
U.S. credit card	1,432			5.55		1,639			6.28		1,931			7.29		2,274			8.39		2,572		9.05
Non-U.S. credit card	(36		)	(0.89	)	374			5.83		429			6.31		402			5.91		339		4.90
Direct/Indirect consumer	284			1.24		301			1.32		366			1.64		525			2.36		641		2.78
Other consumer	63			9.04		56			7.81		43			6.44		40			5.93		50		6.96
Total consumer	3,538			2.28		4,475			2.82		5,162			3.27		5,345			3.38		5,854		3.62
U.S. Commercial (2)	78			0.17		78			0.18		60			0.14		(21		)	(0.05	)	210		0.47
Commercial real estate	200			1.95		296			2.73		163			1.43		288			2.42		347		2.67
Commercial lease financing	32			0.59		(1		)	(0.01	)	(8		)	(0.15	)	1			0.02		20		0.38
Non-U.S. commercial	18			0.15		18			0.15		13			0.13		103			1.22		8		0.10
	328			0.44		391			0.54		228			0.32		371			0.54		585		0.83
U.S. small business commercial	188			5.55		220			6.36		275			7.78		312			8.68		344		9.13
Total commercial	516			0.66		611			0.81		503			0.68		683			0.94		929		1.25
Total net charge-offs	$	4,054		1.74		$	5,086		2.17		$	5,665		2.44		$	6,028		2.61		$	6,783	2.87
By Business Segment
Deposits	$	54		29.86	%	$	48		27.52	%	$	36		23.58	%	$	34		21.34	%	$	40	25.64	%
Card Services	1,754			5.74		2,031			6.52		2,434			7.67		2,916			8.93		3,327		9.65
Consumer Real Estate Services	894			3.14		1,036			3.58		1,213			4.16		1,114			3.75		1,183		3.76
Global Commercial Banking	360			0.76		443			0.94		321			0.68		514			1.08		639		1.30
Global Banking & Markets	71			0.23		31			0.11		(9		)	(0.03	)	(3		)	(0.01	)	25		0.10
Global Wealth & Investment Management	113			0.44		135			0.52		129			0.50		88			0.36		131		0.52
All Other	808			1.17		1,362			1.89		1,541			2.15		1,365			1.92		1,438		2.02
Total net charge-offs	$	4,054		1.74		$	5,086		2.17		$	5,665		2.44		$	6,028		2.61		$	6,783	2.87

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

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

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

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

Bank of America Corporation and Subsidiaries
Year-to-Date Net Charge-offs and Net Charge-off Ratios (1)
(Dollars in millions)
	Year Ended December 31
	2011				2010
Net Charge-offs	Amount		Percent		Amount		Percent
Residential mortgage	$	3,832	1.45	%	$	3,670	1.49	%
Home equity	4,473		3.42		6,781		4.65
Discontinued real estate	92		0.75		68		0.49
U.S. credit card	7,276		6.90		13,027		11.04
Non-U.S. credit card	1,169		4.86		2,207		7.88
Direct/Indirect consumer	1,476		1.64		3,336		3.45
Other consumer	202		7.32		261		8.89
Total consumer	18,520		2.94		29,350		4.51
U.S. Commercial (2)	195		0.11		881		0.50
Commercial real estate	947		2.13		2,017		3.37
Commercial lease financing	24		0.11		57		0.27
Non-U.S. commercial	152		0.36		111		0.39
	1,318		0.46		3,066		1.07
U.S. small business commercial	995		7.12		1,918		12.00
Total commercial	2,313		0.77		4,984		1.64
Total net charge-offs	$	20,833	2.24		$	34,334	3.60
By Business Segment
Deposits	$	172	25.78	%	$	219	31.78	%
Card Services	9,135		7.24		17,249		11.89
Consumer Real Estate Services	4,257		3.66		6,487		5.02
Global Commercial Banking	1,638		0.87		3,406		1.67
Global Banking & Markets	90		0.08		307		0.32
Global Wealth & Investment Management	465		0.46		477		0.48
All Other	5,076		1.79		6,189		2.20
Total net charge-offs	$	20,833	2.24		$	34,334	3.60

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

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

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

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

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	December 31, 2011						September 30, 2011						December 31, 2010
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	$	5,935	17.57	%	2.26	%	$	5,832	16.62	%	2.19	%	$	5,082	12.14	%	1.97	%
Home equity	13,094		38.76		10.50		12,998		37.05		10.18		12,887		30.77		9.34
Discontinued real estate	2,050		6.07		18.48		1,902		5.42		16.48		1,283		3.06		9.79
U.S. credit card	6,322		18.71		6.18		6,780		19.33		6.59		10,876		25.97		9.56
Non-U.S.credit card	946		2.80		6.56		1,314		3.75		8.17		2,045		4.88		7.45
Direct/Indirect consumer	1,153		3.41		1.29		1,281		3.65		1.42		2,381		5.68		2.64
Other consumer	148		0.44		5.50		150		0.43		5.35		161		0.38		5.67
Total consumer	29,648		87.76		4.88		30,257		86.25		4.90		34,715		82.88		5.40
U.S. commercial (2)	2,441		7.23		1.26		2,627		7.49		1.36		3,576		8.54		1.88
Commercial real estate	1,349		3.99		3.41		1,860		5.30		4.55		3,137		7.49		6.35
Commercial lease financing	92		0.27		0.42		100		0.28		0.47		126		0.30		0.57
Non-U.S.commercial	253		0.75		0.46		238		0.68		0.49		331		0.79		1.03
Total commercial (3)	4,135		12.24		1.33		4,825		13.75		1.59		7,170		17.12		2.44
Allowance for loan and lease losses	33,783		100.00	%	3.68		35,082		100.00	%	3.81		41,885		100.00	%	4.47
Reserve for unfunded lending commitments	714						790						1,188
Allowance for credit losses	$	34,497					$	35,872					$	43,073
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (5)			3.68	%					3.81	%					4.47	%
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)			2.86						3.02						3.94
Allowance for loan and lease losses/Total nonperforming loans and leases (6)			135						133						136
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (4)			101						101						116
Allowance for loan and lease losses/Annualized net charge-offs (7)			2.10						1.74						1.56
Allowance for loan and lease losses/Annualized net charge-offs (excluding purchased credit-impaired loans) (4, 7)			1.57						1.33						1.32

⁽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 for each loan and lease category. Loans accounted for under the fair value option include residential mortgage loans of $906 million and $1.3 billion and discontinued real estate loans of $1.3 billion and $3.4 billion at December 31, 2011 and September 30, 2011, respectively. They also include U.S. commercial loans of $2.2 billion, $1.9 billion and $1.6 billion, non-U.S. commercial loans of $4.4 billion, $4.5 billion and $1.7 billion, and commercial real estate loans of $0, $75 million and $79 million at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

⁽²⁾  Includes allowance for U.S. small business commercial loans of $893 million, $935 million and $1.5 billion at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

⁽³⁾  Includes allowance for loan and lease losses for impaired commercial loans of $545 million, $798 million and $1.1 billion at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

⁽⁴⁾  Excludes valuation allowance on Countrywide purchased credit-impaired loans of $8.5 billion, $8.2 billion and $6.4 billion at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

⁽⁵⁾  Total loans and leases do not include loans accounted for under the fair value option of $8.8 billion, $11.2 billion and $3.3 billion at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

⁽⁶⁾  Allowance for loan and lease losses includes $17.5 billion, $18.3 billion and $22.9 billion allocated to products (primarily Card Services portfolios and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at December 31, 2011, September 30, 2011 and December 31, 2010, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 65 percent, 63 percent and 62 percent at December 31, 2011, September 30, 2011 and December 31, 2010, respectively.

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

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

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

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 plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Return on average tangible shareholders’ equity measures the Corporation’s earnings contribution as a percentage of average shareholders’ equity 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 plus any Common Equivalent Securities less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. The tangible equity ratio represents total ending shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by total assets less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. Tangible book value per common share represents ending common shareholders’ equity less goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities divided by ending common shares outstanding. These measures are used to evaluate the Corporation’s use of equity (i.e., capital). In addition, profitability, relationship and investment models all use return on average tangible shareholders’ equity as key measures to support our overall growth goals.

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

In certain presentations, earnings and diluted earnings per common share, the efficiency ratio, return on average assets, return on common shareholders’ equity, return on average tangible common shareholders’ equity and return on average tangible shareholders’ equity are calculated excluding the impact of goodwill impairment charges of $581 million and $2.6 billion recorded in the fourth and second quarters of 2011, and $2.0 billion and $10.4 billion recorded in the fourth and third quarters of 2010. Accordingly, these are non-GAAP financial measures.

See the tables below and on pages 46-47 for reconciliations of these non-GAAP financial measures with financial measures defined by GAAP for the three months ended December 31, 2011, September 30, 2011, June 30, 2011, March 31, 2011 and December 31, 2010 and the years ended December 31, 2011 and 2010. 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.

	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011		Second Quarter 2011			First Quarter 2011		Fourth Quarter 2010
	2011			2010
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	44,616		$	51,523		$	10,701		$	10,490	$	11,246		$	12,179	$	12,439
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218		270
Net interest income on a fully taxable-equivalent basis	$	45,588		$	52,693		$	10,959		$	10,739	$	11,493		$	12,397	$	12,709
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	$	93,454		$	110,220		$	24,888		$	28,453	$	13,236		$	26,877	$	22,398
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218		270
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	94,426		$	111,390		$	25,146		$	28,702	$	13,483		$	27,095	$	22,668
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges
Total noninterest expense	$	80,274		$	83,108		$	19,522		$	17,613	$	22,856		$	20,283	$	20,864
Goodwill impairment charges	(3,184		)	(12,400		)	(581		)	—		(2,603		)	—		(2,000		)
Total noninterest expense, excluding goodwill impairment charges	$	77,090		$	70,708		$	18,941		$	17,613	$	20,253		$	20,283	$	18,864
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	(1,676	)	$	915		$	441		$	1,201	$	(4,049	)	$	731	$	(2,351	)
Fully taxable-equivalent adjustment	972			1,170			258			249		247			218		270
Income tax expense (benefit) on a fully taxable-equivalent basis	$	(704	)	$	2,085		$	699		$	1,450	$	(3,802	)	$	949	$	(2,081	)
Reconciliation of net income (loss) to net income (loss), excluding goodwill impairment charges
Net income (loss)	$	1,446		$	(2,238	)	$	1,991		$	6,232	$	(8,826	)	$	2,049	$	(1,244	)
Goodwill impairment charges	3,184			12,400			581			—		2,603			—		2,000
Net income (loss), excluding goodwill impairment charges	$	4,630		$	10,162		$	2,572		$	6,232	$	(6,223	)	$	2,049	$	756
Reconciliation of net income (loss) applicable to common shareholders to net income (loss) applicable to common shareholders, excluding goodwill impairment charges
Net income (loss) applicable to common shareholders	$	85		$	(3,595	)	$	1,584		$	5,889	$	(9,127	)	$	1,739	$	(1,565	)
Goodwill impairment charges	3,184			12,400			581			—		2,603			—		2,000
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges	$	3,269		$	8,805		$	2,165		$	5,889	$	(6,524	)	$	1,739	$	435

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

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

Exhibit A: Non-GAAP Reconciliations - continued
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	211,709		$	212,686		$	209,324		$	204,928		$	218,505		$	214,206		$	218,728
Common Equivalent Securities	—			2,900			—			—			—			—			—
Goodwill	(72,334		)	(82,600		)	(70,647		)	(71,070		)	(73,748		)	(73,922		)	(75,584		)
Intangible assets (excluding mortgage servicing rights)	(9,180		)	(10,985		)	(8,566		)	(9,005		)	(9,394		)	(9,769		)	(10,211		)
Related deferred tax liabilities	2,898			3,306			2,775			2,852			2,932			3,035			3,121
Tangible common shareholders’ equity	$	133,093		$	125,307		$	132,886		$	127,705		$	138,295		$	133,550		$	136,054
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	229,095		$	233,235		$	228,235		$	222,410		$	235,067		$	230,769		$	235,525
Goodwill	(72,334		)	(82,600		)	(70,647		)	(71,070		)	(73,748		)	(73,922		)	(75,584		)
Intangible assets (excluding mortgage servicing rights)	(9,180		)	(10,985		)	(8,566		)	(9,005		)	(9,394		)	(9,769		)	(10,211		)
Related deferred tax liabilities	2,898			3,306			2,775			2,852			2,932			3,035			3,121
Tangible shareholders’ equity	$	150,479		$	142,956		$	151,797		$	145,187		$	154,857		$	150,113		$	152,851
Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
Common shareholders’ equity	$	211,704		$	211,686		$	211,704		$	210,772		$	205,614		$	214,314		$	211,686
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			2,853			2,933			3,036
Tangible common shareholders’ equity	$	136,418		$	130,938		$	136,418		$	133,953		$	128,217		$	133,818		$	130,938
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
Shareholders’ equity	$	230,101		$	228,248		$	230,101		$	230,252		$	222,176		$	230,876		$	228,248
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			2,853			2,933			3,036
Tangible shareholders’ equity	$	154,815		$	147,500		$	154,815		$	153,433		$	144,779		$	150,380		$	147,500
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,129,046		$	2,264,909		$	2,129,046		$	2,219,628		$	2,261,319		$	2,274,532		$	2,264,909
Goodwill	(69,967		)	(73,861		)	(69,967		)	(70,832		)	(71,074		)	(73,869		)	(73,861		)
Intangible assets (excluding mortgage servicing rights)	(8,021		)	(9,923		)	(8,021		)	(8,764		)	(9,176		)	(9,560		)	(9,923		)
Related deferred tax liabilities	2,702			3,036			2,702			2,777			2,853			2,933			3,036
Tangible assets	$	2,053,760		$	2,184,161		$	2,053,760		$	2,142,809		$	2,183,922		$	2,194,036		$	2,184,161

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.    46

Exhibit A: Non-GAAP Reconciliations - continued
Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2011			Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010
	2011			2010
Reconciliation of return on average economic capital
Deposits
Reported net income (loss)	$	1,192		$	1,362		$	141		$	276		$	424		$	351		$	(200	)
Adjustment related to intangibles (1)	3			10			2			1			(1		)	1			2
Adjusted net income (loss)	$	1,195		$	1,372		$	143		$	277		$	423		$	352		$	(198	)
Average allocated equity	$	23,735		$	24,222		$	23,862		$	23,820		$	23,612		$	23,641		$	24,128
Adjustment related to goodwill and a percentage of intangibles	(17,949		)	(17,975		)	(17,939		)	(17,947		)	(17,950		)	(17,958		)	(17,967		)
Average economic capital	$	5,786		$	6,247		$	5,923		$	5,873		$	5,662		$	5,683		$	6,161
Card Services
Reported net income (loss)	$	5,788		$	(6,980	)	$	1,022		$	1,263		$	1,939		$	1,564		$	1,289
Adjustment related to intangibles (1)	17			70			5			4			3			5			15
Goodwill impairment charge	—			10,400			—			—			—			—			—
Adjusted net income	$	5,805		$	3,490		$	1,027		$	1,267		$	1,942		$	1,569		$	1,304
Average allocated equity	$	21,128		$	32,418		$	20,610		$	20,755		$	21,016		$	22,152		$	23,518
Adjustment related to goodwill and a percentage of intangibles	(10,589		)	(17,644		)	(10,549		)	(10,561		)	(10,606		)	(10,640		)	(10,672		)
Average economic capital	$	10,539		$	14,774		$	10,061		$	10,194		$	10,410		$	11,512		$	12,846
Consumer Real Estate Services
Reported net loss	$	(19,529	)	$	(8,947	)	$	(1,459	)	$	(1,137	)	$	(14,519	)	$	(2,414	)	$	(4,937	)
Adjustment related to intangibles (1)	—			3			—			—			—			—			—
Goodwill impairment charges	2,603			2,000			—			—			2,603			—			2,000
Adjusted net loss	$	(16,926	)	$	(6,944	)	$	(1,459	)	$	(1,137	)	$	(11,916	)	$	(2,414	)	$	(2,937	)
Average allocated equity	$	16,202		$	26,016		$	14,757		$	14,240		$	17,139		$	18,736		$	24,310
Adjustment related to goodwill and a percentage of intangibles	(1,350		)	(4,802		)	—			—			(2,702		)	(2,742		)	(4,799		)
Average economic capital	$	14,852		$	21,214		$	14,757		$	14,240		$	14,437		$	15,994		$	19,511
Global Commercial Bank
Reported net income	$	4,402		$	3,218		$	1,048		$	1,050		$	1,381		$	923		$	1,053
Adjustment related to intangibles (1)	2			5			—			—			1			1			1
Adjusted net income	$	4,404		$	3,223		$	1,048		$	1,050		$	1,382		$	924		$	1,054
Average allocated equity	$	40,867		$	43,590		$	40,718		$	40,726		$	40,522		$	41,512		$	42,997
Adjustment related to goodwill and a percentage of intangibles	(20,695		)	(20,684		)	(20,692		)	(20,689		)	(20,697		)	(20,700		)	(20,703		)
Average economic capital	$	20,172		$	22,906		$	20,026		$	20,037		$	19,825		$	20,812		$	22,294
Global Banking and Markets
Reported net income (loss)	$	2,967		$	6,297		$	(433	)	$	(302	)	$	1,559		$	2,143		$	669
Adjustment related to intangibles (1)	17			19			4			5			4			4			4
Adjusted net income (loss)	$	2,984		$	6,316		$	(429	)	$	(297	)	$	1,563		$	2,147		$	673
Average allocated equity	$	37,233		$	50,037		$	33,707		$	36,372		$	37,458		$	41,491		$	46,935
Adjustment related to goodwill and a percentage of intangibles	(10,650		)	(10,106		)	(10,958		)	(10,783		)	(10,474		)	(10,379		)	(10,240		)
Average economic capital	$	26,583		$	39,931		$	22,749		$	25,589		$	26,984		$	31,112		$	36,695
Global Wealth and Investment Management
Reported net income	$	1,635		$	1,340		$	249		$	347		$	506		$	533		$	319
Adjustment related to intangibles (1)	30			86			7			7			7			9			20
Adjusted net income	$	1,665		$	1,426		$	256		$	354		$	513		$	542		$	339
Average allocated equity	$	17,802		$	18,068		$	17,860		$	17,839		$	17,574		$	17,938		$	18,227
Adjustment related to goodwill and a percentage of intangibles	(10,696		)	(10,778		)	(10,664		)	(10,691		)	(10,706		)	(10,728		)	(10,752		)
Average economic capital	$	7,106		$	7,290		$	7,196		$	7,148		$	6,868		$	7,210		$	7,475

⁽¹⁾  Represents cost of funds and earnings credit on 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.    47

EX-99.4

Bank of America 4Q11 Financial Results January 19, 2012

Bank of America and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “hopes,” “estimates,” “intends,” “plans,” “goals,” “believes,” “continue” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” The forward-looking statements made represent Bank of America's current expectations, plans or forecasts of its future results and revenues, the company's focus in 2012 to continue to build capital, grow core business, reduce costs and reduce residual risks; streamline the balance sheet and deliver earnings growth; continued addition of wealth management advisors and small business bankers; that advisor growth will be muted in 2012; continued reductions in the size of the company’s mortgage servicing portfolio; the implementation and completion of, and expected impact from, Project New BAC; the persistence of “headwinds” of global economies, an adverse housing market, low interest rates, substantial regulatory challenges and the Eurozone debt crisis; continued generation of strong core customer results, more customers and more depth in customer relationships, along with good returns on capital; the substantial completion of the non-core asset sales, although there will be targeted sales activity in certain areas; the approximately $189 billion in additional liquidity that is available to the company’s banking entities via pledging assets to the home loan banks and the Federal Reserve discount window; liquidity will remain high in 2012 even as we continue to reduce long-term debt; the need to replace only a small portion of parent company debt maturities; target of zero issuance of parent company and broker/dealer short-term unsecured funding; that risk management efforts will continue to produce solid improvement, including credit risk as legacy portfolios continue to run-off and a reduction in the negative earnings; continued management of mortgage issues and reliance on reserves built in 2011; 2012 outlook, including the following: efficiency improvements; headcount levels, including expecting the impact of reduced headcount levels in the first quarter of 2012; the first quarter will include the annual retirement eligible stock compensation; net interest income compression from replacement of higher-yielding maturing assets, offset with continued reductions in long-term debt; net interest income expected to be muted and highly dependent on the rate environment; parent company unsecured debt issuances in the single digit billions; continued consumer loan run-off, which should be partially offset by loan growth in our commercial businesses; lower levels of long-term debt, including reductions of an additional $50-$100 billion by the end of 2013; the correlation of revenue with economic growth, including consumer noninterest revenue lines; market-related revenue of investment banking, sales and trading, and investment and brokerage is expected to be dependent on market environment; that investment banking is expected to be more consistent with activity last year; the company hopes to see better results in sales and trading but that is dependent on global conditions and health of the recovery; the decline in equity investment income; that expense will benefit from Project New BAC savings and expected lower legacy mortgage-related costs; continued reductions in bank branches; that Legacy Asset Servicing costs are expected to decline over the four quarters of 2012; that Project New BAC will generate $5 billion in annual savings by 2014 and that the company will exceed the $1 billion cost saving goal expected to be achieved in 2012; the Phase 2 lower cost savings; that lower head count and Project New BAC, along with an improving mortgage environment are expected to result in substantial costs savings in the second half of 2012; that we will continue to make progress in reducing delinquent serviced loans as modifications, foreclosures and short sales outpace new entrants; that improvement in charge-offs is expected to slow but continue to improve; our belief that credit quality (including charge-offs) will continue to improve over the next few quarters, although at a slowing pace; slowing reserve releases; continued capital and capital ratio growth primarily through earnings and, to a lesser extent, lower risk-weighted assets throughout 2012; that we expect the effective tax rate to be around 30 percent; Basel III expectations to be between 7.25% and 7.5% on fully phased-in basis and above 8% on a reported basis by the end of 2012; that the company continues to work very hard to prepare itself for the new Basel capital requirements; continued reductions in risk-weighted assets, including a December 31, 2012 goal of $1.75 trillion, and other deductions from capital; that additional risk-weighted asset mitigation efforts will continue after 2012; the estimated range of possible loss for non-GSE representations and warranties exposure; representations and warranties reserves, expenses and repurchase activity; and other similar matters. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America's control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements. You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks, as well as those more fully discussed under Item 1A. “Risk Factors” of Bank of America's 2010 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011 and in any of Bank of America's subsequent SEC filings: the company's ability to implement, manage and realize the anticipated benefits and expense savings from Project New BAC; the company's timing and determinations regarding any potential revised comprehensive capital plan submission and the Federal Reserve Board's response; the impact and ultimate resolution of the private-label securitization settlement (the settlement) with the Bank of New York Mellon (BNY Mellon) and of any additional claims not addressed by the BNY Mellon settlement or other prior settlement agreements; the company's ability to resolve any representations and warranties claims from GSEs, monolines and private investors; increased repurchase claims and repurchases due to mortgage insurance cancellations, rescissions and denials; the company's failure to satisfy its obligations as servicer in the residential mortgage securitization process; the foreclosure review and assessment process, the effectiveness of the company's response to such process and any governmental or private third-party claims asserted in connection with these foreclosure matters; the ability to achieve resolution in negotiations with law enforcement authorities and federal agencies, including the U.S. Department of Justice and the U.S. Department of Housing and Urban Development, involving mortgage servicing practices, including the timing and any settlement terms; the company's mortgage modification policies, loss mitigation strategies and related results; and any measures or steps taken by federal regulators or other governmental authorities with regard to mortgage loans, servicing agreements and standards, or other matters; the risk of any additional credit ratings downgrades of the U.S. government; the company's credit ratings and the credit ratings of its securitizations, including the risk that the company or its securities will be the subject of additional or further credit ratings downgrades; the impact resulting from international and domestic sovereign credit uncertainties, including the current challenges facing European economies; the level and volatility of the capital markets, interest rates, currency values and other market indices; changes in consumer, investor and counterparty confidence in, and the related impact on, financial markets and institutions, including the company as well as its business partners; legislative and regulatory actions in the U.S and internationally, including the identification and effectiveness of any initiatives to mitigate the negative impacts; the impact of litigation and regulatory investigations, including costs, expenses, settlements and judgments as well as any collateral effects on its ability to do business and access the capital markets; negative economic conditions generally including continued weakness in the U.S. housing market, high unemployment in the U.S., as well as economic challenges in many non-U.S. countries in which we operate; various monetary, tax and fiscal policies of the U.S. and non-U.S. governments. Forward-looking statements speak only as of the date they are made, and Bank of America undertakes no obligation to update any forward-looking statement to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made. 2 Forward-Looking Statements

• This information is preliminary and based on company data available at the time of the presentation • Certain prior period amounts have been reclassified to conform to current period presentation • Certain financial measures contained herein represent non-GAAP financial measures. For more information about the non-GAAP financial measures contained herein, please see the presentation of the most directly comparable financial measures calculated in accordance with GAAP and accompanying reconciliations in the earnings press release and other earnings-related information available through the Bank of America Investor Relations web site at: http://investor.bankofamerica.com 3 Important Presentation Format Information

Key Takeaways • Significant progress made on company transformation • Tier 1 common equity ratio improved 126 bps in 2011 from 8.60% to 9.86% • Incurred significant mortgage-related costs in 2011 – $15.6B representations and warranties provision – $6.3B mortgage-related litigation expense and assessments and waivers costs – $7.3B of other noninterest expense in Legacy Asset Servicing • Further enhanced liquidity • Experienced good client flows • Focus on risk management culture producing results – Net charge-offs improved $13.5B or 39% from 2010 • Headwinds of global economies, housing, interest rates and Eurozone debt crisis persist • Focused on reducing costs 4

Consumers Client Flows 5 • Referrals across business lines in 2011 grew 36% over 2010 • Total average deposits increased $47B, or 5% in 2011 • Long-term assets under management flows of $28B in 2011 • Added 1,700 financial advisors • Completed over 1 million consumer real estate loan modifications • Mobile banking customers grew 45% to 9MM in 2011 • Extended $557B in credit to customers in 2011 • Small business loan originations up approximately 20% over 2010, hired over 500 new small business bankers in 2011 • Increased business with corporate banking clients from 4Q10 to 4Q11 – Average loans and leases grew 29% • Raised $644B of capital for clients during 2011 • Maintained No. 2 global investment banking fee ranking • Recently named Top Global Research Firm of the year for 2011 by Institutional Investor rankings Commercial Clients Institutional Investors

Summary Income Statement and Selected Items Selected Items in 4Q11 Results ($B) 3 6 4Q11 Summary Income Statement ($B) ____________________ 1 Fully taxable-equivalent (FTE) basis. 2 Represents a non-GAAP financial measure. On a GAAP basis, total revenue, net of interest expense, and income tax expense were $24.9B and $441MM for 4Q11. For reconciliation to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. 3 All items are pre-tax. Total revenue, net of interest expense 1, 2 $25.1 Noninterest expense 19.5 Pre-tax pre-provision 2 5.6 Provision for credit losses 2.9 Income before income taxes 2.7 Income tax expense 1, 2 0.7 Net income $2.0 Gain on sale of CCB shares $2.9 ains on exchanges of trust preferred securities 1.2 Gains on sales of debt securities 1.2 Representations and warranties provision ($0.3) DVA on trading liabiliti s (0.5) Goodwill impairment (0.6) Fair value adjustment on structured liabilities (0.8) Mortgage-related litigation expense (1.5)

____________________ 1 Represents a non-GAAP financial measure. 2 For reconciliation to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. 3 Excluding recoveries related to the bulk sale of previously charged-off U.K. credit card loans and home equity lien protection insurance, the coverage of annualized net charge-offs would have been 1.92 and 1.44 times (excluding purchased credit-impaired loans) at December 31, 2011. Balance Sheet Highlights ($B, except per share amounts) 7 Balance Sheet Strengthened While Managing Legacy Issues Total assets $2,129.0 $2,219.6 $2,264.9 Total risk-weighted assets 1,284.5 1,359.6 1,456.0 Total deposits 1,033.0 1,041.4 1,010.4 Long-term debt 372.3 399.0 448.4 Tangible common shareholders' equity 1, 2 136.4 134.0 130.9 Tangible common equity ratio 1, 2 6.64% 6.25% 5.99% Common shareholders' equity $211.7 $210.8 $211.7 Common equity ratio 9.94% 9.50% 9.35% Tier 1 common equity 126.7 117.7 125.1 Tier 1 common equity ratio 9.86% 8.65% 8.60% Tangible book value per common share 1, 2 $12.95 $13.22 $12.98 Book value per common share 20.09 20.80 20.99 Outstanding common shares (in billions) 10.54 10.13 10.09 Global excess liquidity sources $378 $363 $336 Allowance for loan and lease losses $33.8 $35.1 $41.9 Coverage of annualized net charge-offs 3 2.1 x 1.7 x 1.6 x Coverage of annualized net charge-offs excl. CFC PCI 1, 3 1.6 x 1.3 x 1.3 x Liability for representations and warranties 15.9 16.3 5.4 December 31 2011 December 31 2010 September 30 2011

Tier 1 Common Equity Ratio Improved 121 bps in 4Q11 8.65 9.86 0.29 0.24 0.07 0.21 0.18 0.10 0.12 3Q11 Preferred exchange CCB sale Canadian consumer card sale Net income and DTA Reductions in market risk Asset sales and change in loans Other RWA declines - net 4Q11 • Tier 1 common equity ratio increased 121bps from 3Q11 driven by significant capital actions in the quarter and continued transformation of company’s reduction of risk – Exchanges of preferred and trust preferred securities for common stock and senior notes benefited Tier 1 common equity ratio by 29bps  400 million common shares issued along with $1.7B discount captured on exchanges of preferred and trust preferred securities, including a $1.2B pre-tax gain – Sale of CCB shares benefited Tier 1 common equity ratio by 24bps – Sale of Canadian consumer card business benefited Tier 1 common equity ratio by 7bps • Risk-weighted assets declined $75B during the quarter as a result of: – Sales of non-core assets – Reduction in risk and proactive capital management Key Drivers of Improvement in Tier 1 Common Equity Ratio 8 % %

Funding and Liquidity • Global Excess Liquidity Sources increased $15B vs. 3Q11 to $378B ‒ Parent company liquidity strong at $125B, up $6B ‒ Parent company debt reduced $17B in 4Q11 ‒ Time-to-required funding at 29 months ‒ Includes more than $60B of parent company unsecured debt that matures in 2012 • Parent company and broker/dealer short-term unsecured funding remained at $0 in 4Q11 • Total long-term debt declined $27B to $372B in 4Q11 9 Global Excess Liquidity Sources ($B) and Time-to-Required Funding (months) 1, 2 1 Global Excess Liquidity Sources include cash and high-quality, liquid, unencumbered securities, limited to U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non- U.S. government and supranational securities, and are readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or Federal Home Loan Bank borrowing capacity. Transfers of liquidity from the bank or broker/dealer subsidiaries are subject to certain regulatory restrictions. 2 Time-to-required funding is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of both Bank of America Corporation and Merrill Lynch & Co., Inc. can be met using only its Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. For 2Q11, 3Q11 and 4Q11, we have also included in the amount of unsecured contractual obligations the $8.6B liability, including estimated costs, for the previously announced BNY Mellon settlement. $336 $386 $402 $363 $378 24 25 22 27 29 0 5 10 15 20 25 30 $0 $100 $200 $300 $400 $500 $600 $700 4Q10 1Q11 2Q11 3Q11 4Q11 Parent company Bank subsidiaries Broker/dealers Time to Required Funding Long-term Debt ($B) $448 $434 $427 $399 $372 $0 $100 $200 $300 $400 $500 4Q10 1Q11 2Q11 3Q11 4Q11

10 ____________________ 1 FTE basis. Represents a non-GAAP financial measure. On a GAAP basis, net interest income was $10.7B, $10.5B, $11.2B, $12.2B and $12.4B for 4Q11, 3Q11, 2Q11, 1Q11 and 4Q10, respectively. For reconciliation to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. • Net interest income increased $220MM and net interest yield increased 13bps to 2.45% from 3Q11 – Positive impacts in 4Q11 vs. 3Q11 include:  Less premium amortization and hedge ineffectiveness  Lower long-term debt balances and rates paid on deposits – Partially offset by:  Reductions from declines in consumer balances and yields  Further declines in interest rates, particularly in mortgages  Decision to not fully reinvest in debt securities – Our overall interest rate risk position continues to be asset sensitive Net Interest Income ($MM) 1 Net Interest Income $11,559 $11,346 $10,579 $9,789 $10,061 $12,709 $12,397 $11,493 $10,739 $10,959 2.69% 2.67% 2.50% 2.32% 2.45% 3.29% 3.26% 3.06% 2.79% 2.94% 0.00% 0.60% 1.20% 1.80% 2.40% 3.00% 3.60% $0 $5,000 $10,000 $15,000 $20,000 4Q10 1Q11 2Q11 3Q11 4Q11 Core NII Market-based NII Reported net interest yield Net interest yield excl. maket-based

11 • Net income of $141MM was down $135MM from 3Q11 driven by elevated FDIC expense • Average deposit balances decreased 1.2% compared to the third quarter driven by a decline in non-core higher interest time deposits • Rate paid on deposits declined 2bps to 0.23% due to pricing discipline and shift in the mix of deposits. Rate paid fell 12 bps compared to 4Q10 • Expenses increase driven by higher FDIC expense • Banking center optimization continues as we closed a net of 13 branches in 4Q11 and 154 for the full year • Expanded our locally based small business bankers to over 600 as of 4Q11, on target to hit 1,000 in 2012 Deposits $ in millions 4Q11 3Q11 4Q10 Net interest income 1 $1,998 $11 ($8) Noninterest income 1,082 (50) 85 Total revenue, net of interest expense 3,080 (39) 77 Provision for credit losses 57 5 16 Noninterest expense 2,798 171 (472) Income tax expense 1 84 (80) 192 Net income $141 ($135) $341 Key Indicators 4Q11 3Q11 4Q10 Average deposits ($B) $417.1 $422.3 $413.2 End of period deposits $421.9 $424.3 $415.2 Client brokerage assets ($B) 66.6 61.9 63.6 Rate paid on deposits 0.23% 0.25% 0.35% Number of banking c ters 5,702 5,715 5,856 Mobile banking customers (MM) 9.2 8.5 6.3 Return on average economic capital 2 9.5% 18.8% n/m Inc/(Dec) ____________________ 1 FTE basis. 2 Calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Represents a non-GAAP financial measure. For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. n/m = not meaningful

12 • Net income of $1.0B was down $241MM compared to 3Q11. • Revenue declined as a result of the implementation of the Durbin Amendment which became effective on October 1, 2011 and had a $430MM impact • End of period loans declined $1.6B from 3Q11 due to divestitures and the run-off of non-core portfolios, partially offset by increased volume related to seasonal spend – Divested $2.4B non-core U.S. consumer and small business card receivables during 4Q11 – Non-core run-off portfolios declined $1.0B from 3Q11 • Credit card purchase volume increased seasonally 5% from 3Q11 and is up 6% from 4Q10, adjusted for portfolio divestitures • New U.S. credit card accounts are down seasonally from 3Q11, but are up 53% from 4Q10 • Provision expense increased $101MM from 3Q11 – Net charge-offs improved $277MM while we reduced reserves by $378MM less than 3Q11 – U.S. credit card net losses improved for the 9th consecutive quarter while 30+ day delinquency rate improved for the 11th consecutive quarter Card Services $ in millions 4Q11 3Q11 4Q10 Net interest income 1 $2,765 ($57) ($647) Noninterest income 1,295 (388) (650) Total revenue, net of interest expense 4,060 (445) (1,297) Provision for credit losses 1,138 101 (708) Noninterest expense 1,393 (64) (70) Income tax expense 1 507 (241) (252) Net income $1,022 ($241) ($267) Key Indicators ($ in billions) 4Q11 3Q11 4Q10 Average loans and leases $121.1 $123.5 $136.7 End of period loans and leases 120.7 122.2 137.0 Delinquent dollars 30+ days 4.8 5.1 7.6 30+ days delinquency ratio 4.0% 4.1% 5.6% Delinquent dollars 90+ days $2.6 $2.7 $4.2 90+ days delinquency ratio 2.1% 2.2% 3.1% Net charge-offs $1.8 $2.0 $3.3 as a % of avg. loa s 5.7% 6.5% 9.7% Credit card purchase volumes $56.1 $53.6 $53.8 Debit card purchase volumes 63.7 62.8 60.9 Return on averag conomic capital 2 40.5% 49.3% 40.3% Inc/(Dec) ____________________ 1 FTE basis. 2 Calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Represents a non-GAAP financial measure. For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

13 • Net income of $249MM was down $98MM from 3Q11 on lower market driven revenue and higher expenses • Reduced revenue due to lower investment and brokerage income driven by suppressed 3Q11 market levels and lower transactional activity • Client balances increased 3.5% driven by higher 4Q11 market levels and strong AUM flows • While average deposits declined $5.9B from 3Q11, end of period deposits were up $2.0B • Expenses increased driven by high costs in certain areas including litigation expenses and other related losses, severance and FDIC expense • Provision expense declined on fewer delinquencies and improving portfolio trends in residential mortgage • 10th consecutive quarter of increased client-facing associates driven by the net addition of 214 Financial Advisors in 4Q11 Global Wealth & Investment Management $ in millions 4Q11 3Q11 4Q10 Net interest income 1 $1,495 $84 $70 Noninterest income 2,669 (150) (67) Total revenue, net of interest expense 4,164 (66) 3 Provision for credit losses 118 (44) (37) Noninterest expense 3,649 133 160 Income tax expense 1 148 (57) (50) Net income $249 ($98) ($70) Key Indicators ($ in billions) 4Q11 3Q11 4Q10 Total client balances $2,135.8 $2,063.3 $2,181.3 Average loans and leases 102.7 102.8 100.3 Average deposits 249.8 255.7 246.3 Liquidity AUM flo s 1.0 (2.6) (8.1) Long-term AUM flow 4.5 4.5 5.6 Financial advisor (in thousa ds) 17.3 17.1 15.6 Pre-tax margin 9.5% 13.0% 12.4% Return on average economic capital 2 14.1% 19.7% 18.0% Inc/(Dec) ____________________ 1 FTE basis. 2 Calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Represents a non-GAAP financial measure. For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

14 • Net income of $1.0B was flat to 3Q11 • Average deposits were up $2.2B • Average loans were flat to 3Q11 – Commercial and Industrial loan growth of $1.7B, or 1.6%, was offset by declines in Commercial Real Estate of $1.9B driven primarily through management of criticized assets – Lower average balances compared to 4Q10 were a result of a $9.6B rundown in commercial real estate • Middle market revolver utilization rates were flat at 33.2% • Asset quality continued to improve – Net charge-offs declined $83MM – Nonperforming loans and foreclosed properties declined $1.0B to $5.6B – Reservable utilized criticized exposure declined 11% Global Commercial Banking $ in millions 4Q11 3Q11 4Q10 Net interest income 1 $1,756 $13 ($109) Noninterest income 800 10 51 Total revenue, net of interest expense 2,556 23 (58) Provision for credit losses (146) 4 (10) Noninterest expense 1,039 21 (22) Income tax expense 1 615 - (21) Net income $1,048 ($2) ($5) Key Indicators ($ in billions) 4Q11 3Q11 4Q10 Average loans and leases $187.9 $188.0 $195.3 Average deposits 176.0 173.8 156.7 End of period deposits 176.9 171.3 161.3 Reservable utilized criticized exposure 20.3 22.8 32.8 Nonperforming loa s, leases and foreclosed properties 5.6 6.6 8.7 Credit revenue 1.3 1.4 1.5 Treasury revenue 1.3 1.2 1.1 Return on averag econ mic capital 2 20.8% 20.8% 18.8% Inc/(Dec) ____________________ 1 FTE basis. 2 Calculated as net income adjusted for cost of funds and earnings credit and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Represents a non-GAAP financial measure. For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

15 • 4Q11 had a net loss of $433MM compared to a net loss of $302MM in 3Q11 due to lower sales and trading revenues. 3Q11 results included DVA gains of $1.7B versus 4Q11 DVA losses of $474MM • Revenue declined $1.5B driven by the $2.2B change in DVA – Excluding DVA, sales and trading revenue of $1.9B increased $787MM from 3Q11 and was down $565MM from 4Q10 – Investment banking revenue was flat compared to 3Q11 and down $537MM from 4Q10 • Global Markets Basel I RWA of $228.8B were $27.0B lower than 3Q11 due to reductions in trading risk and balance sheet improvements • Average loan and lease balances increased $10.5B, or 9%, from 3Q11 primarily from growth in domestic and international commercial loans and international trade finance within the Corporate Bank • While average deposit balances declined $6.1B from 3Q11, end of period deposits increased $6.6B ____________________ 1 FTE basis. 2 Risk-weighted assets as defined under Basel I rules. 3 Included in sales and trading revenue is a $228MM loss related to a single monoline exposure. 4 VaR model uses historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. 5 Calculated as net income adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Represents a non-GAAP financial measure. For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. n/m = not meaningful Global Banking & Markets $ in millions 4Q11 3Q11 4Q10 Net interest income 1 $1,733 ($113) ($256) Noninterest income 1,989 (1,387) (1,386) Total revenue, net of interest expense 3,722 (1,500) (1,642) Provision for credit losses (27) (42) 85 Noninterest expense 4,287 (193) (34) Income tax benefit 1 (105) (1,134) (591) Net loss ($433) ($131) ($1,102) Key Indicators ($ in billions) 4Q11 3Q11 4Q10 Average loans and leases $130.6 $120.1 $100.6 Average deposits 115.3 121.4 104.7 Average trading-related assets 446.1 490.4 485.2 Global Markets risk-w ighted assets 2 228.8 255.8 274.2 Sales and trading revenu excl. DVA 3 1.9 1.1 2.4 Investment banking fe s 1.0 1.0 1.6 Average VaR ($ i MM) 4 88.4 163.7 157.1 Return on average ec nomic capital 5 n/m n/m 7.3% Inc/(Dec)

Global Banking & Markets Revenue ($MM) 16 4Q11 3Q11 4Q10 Sales and trading revenue Fixed income, currency and commodities $723 ($1,097) ($944) Equity income 660 (300) (127) Total sales and trading revenue $1,383 ($1,397) ($1,071) Sales and trading revenue (excluding DVA) Fixed income, currency and commodities $1,218 $904 ($416) Equity income 640 (117) (149) Total sales and trading revenue (excluding DVA) $1,858 $787 ($565) Investment banking fees 1 Advisory $273 $ - ($63) Debt issuance 535 56 (273) Equity issuance 238 (58) (201) Total investment banking $1,046 ($2) ($537) Inc/ (Dec) • A challenging trading environment continues as markets remain volatile and customers remain risk-averse reflecting ongoing concerns of sovereign debt, economic activity and political uncertainty – 4Q11 FICC results excluding DVA rebounded from 3Q11 levels due to less volatility, a tightening spread environment and reduction in counterparty valuation adjustment (CVA), although these are still at historically elevated levels – Global Equities recorded lower revenue from 3Q11 primarily due to lower volumes and commission-related revenue • Bank of America Merrill Lynch ranked #2 globally in Investment Banking fees with a 7% market share in 4Q11 ____________________ 1 Includes self-led deals.

17 ____________________ 1 Represents a non-GAAP financial measure. 2 FTE basis. 3 Items shown are on a pre-tax basis. • 4Q11 net loss of $1.5B was an increase of $322MM over 3Q11 • 4Q11 included selected items of $1.7B, including $1.5B in litigation expense and $263MM in representations and warranties provision primarily related to the GSEs, compared to selected items of $918MM in 3Q11 • The exit of the correspondent mortgage business and a drop in retail market share resulted in a decline in originations and production earnings • During 4Q11, the MSR asset decreased by $503MM from $7.9B in 3Q11 to $7.4B – The capitalized MSR rate ended the period at 54 bps vs. 52 bps in 3Q11 Consumer Real Estate Services (CRES) $ in millions 4Q11 Reported Less Adjustments Adjusted 1 Total revenue, net of interest expense 2 $3,276 ($263) $3,539 Provision for credit losses 1,001 - 1,001 Noninterest expense 4,596 1,465 3,131 Income tax benefit 2 (862) (642) (220) Net loss ($1,459) ($1,086) ($373) $ in millions 3Q11 Reported Less Adjustments Adjusted 1 Total revenue, net of interest expense 2 $2,822 ($278) $3,100 Provision for credit losses 918 - 918 Noninterest expense 3,852 640 3,212 Income tax benefit 2 (811) (382) (429) Net loss ($1,137) ($536) ($601) 4Q11 3Q11 Representations and warranties provision ($263) ($278) Litigation expense (1,465) (290) Assessments and waivers costs - (350) 4Q11 3Q11 Selected CRES related ite s ($ in millions) 3 Key Indica ors ($ in billions) 4Q11 3Q11 4Q10 Av rag l ns a d leases $117.0 $120.1 $ 24.9 Total Corporation home loan originations: First mortgage 21.6 33.0 84.7 Home quity 0.8 0.8 2.1 MSR, end of period (EOP) 7.4 7.9 14.9 Capitalized MSR (bps) 54 52 92 Serviced for others (EOP, in trillions) 1.4 1.5 1.6 Net interest income 2 0.8 0.9 1.1 Servicing income 2.1 1.3 1.3 Core production income 0.5 0.8 1.6 Reps and warranties provision (0.3) (0.3) (4.1)

18 Legacy Asset Servicing (within CRES) ____________________ 1 Serviced by LAS associates. 2 Selected items include litigation expense and assessments and waivers costs. These items are listed on slide 17. 3 Staffing includes ending full-time equivalent associates, offshore associates and contractors. N/R = not reported. • Made significant progress in 4Q11 reducing total LAS loans serviced by 644K from 4.1MM loans to 3.5MM – 510K of servicing sales and other strategic transfers drove the decline • 60+ days delinquent loans serviced declined 8% or 91K to 1,067K • Legacy Asset Servicing noninterest expense of $2.0B, excluding litigation expense, increased in the quarter as staffing for default servicing increased to 48.5K associates – We expect this to be near the peak in terms of staffing levels 3Q11 4Q10 Total LAS first-lien servicing (# of loans in thousands) 1 3,471 (644) (1,189) 60+ days delinquent first mortgages in servicing portfolio (# of loans in thousands) 1 1,067 (91) (305) Noninterest expense (excl. selected items) ($B) 2 $2.0 $0.2 N/R Staffing (in thousands) 3 48.5 3.7 13.1 Inc / (Dec) 4Q11 Legacy Asset Servicing Highlights

• Net income of $1.4B was primarily driven by increased equity investment income and the $1.2B gain on exchanges of trust preferred securities, partially offset by the loss on the fair value of structured liabilities • Revenue was impacted by the following selected items: • Equity investment income included the gain on sale of CCB shares of $2.9B in 4Q11 compared to $3.6B in 3Q11, partially offset by losses in other equity investments in 3Q11 • Noninterest expense increased from 3Q11 due primarily to a goodwill impairment charge of $581MM related to a change in the estimated value of the European consumer card businesses ____________________ 1 All Other consists primarily of equity investments, the residential mortgage portfolio associated with ALM activities, the residual impact of the cost allocation process, merger and restructuring charges, intersegment eliminations, fair value adjustments related to structured liabilities and the results of certain consumer finance, investment management and commercial lending businesses that are being liquidated. During the third quarter of 2011, as a result of the decision to exit the international consumer card businesses, the international consumer card business results were moved to All Other and prior periods have been reclassified. 2 FTE basis. 19 All Other 1 $ in millions 4Q11 3Q11 4Q10 Total revenue, net of interest expense 2 $4,288 ($1,983) $2,599 Provision for credit losses 793 (580) (1,344) Noninterest expense 1,760 1,097 480 Income tax expense 2 312 812 2,603 Net income $1,423 ($3,312) $860 Key Indicators ($ in billions) 4Q11 3Q11 4Q10 Average loans an l as s $272.8 $286.8 $282.1 Average deposits 46.1 52.9 55.3 Book value of Global Principal Investments 5.6 6.9 11.6 Total BAC equity investment exposure 19.0 26.9 48.7 Inc/(Dec) $ in millions 4Q11 3Q11 4Q10 FVO on structured liabilities ($814) $4,506 ($1,189) Gains on sales of debt securities 1,102 697 858 Equity investment income 3,107 1,381 1,499 Gains on capital exchanges 1,200 - -

20 Noninterest Expense ($MM) 4Q11 3Q11 Inc/(Dec) Noninterest expense Personnel 8,761$ 8,865$ (104)$ Occupancy 1,131 1,183 (52) Equipment 525 616 (91) Marketing 523 556 (33) Professional fees 1,032 937 95 Amortization of intangibles 365 377 (12) Data processing 688 626 62 Telecommunications 386 405 (19) Other general operating 5,429 3,872 1,557 Merger and restructuring 101 176 (75) Goodwill impairment 581 - 581 Total noninterest expense 19,522$ 17,613$ 1,909$ • 4Q11 showed good progress across most categories of expense • Personnel decrease driven by – 7K reduction in FTE headcount – Somewhat offset by higher default servicing costs and an increase in severance costs • Other general operating expense increased $1.6B from 3Q11 – Litigation increased $1.3B from 3Q11 – Higher FDIC expense • Includes $581MM goodwill impairment for European consumer card business

“New BAC” – Managing Costs Across the Company 21 • Implementation began end of 2011 • Goal of annual cost savings of $5B, about 18% of the total Phase 1 base • Goal of full annualized run-rate expected by end of 2013 • Previous guidance expected 20% achievement in 2012 • Work is well underway and ahead of schedule Phase 1 Deposits / Card / Home Loans / Global Tech and Ops / Support areas • Evaluations began in 4Q11 with implementation expected to begin Spring 2012 • Phase 2 expense base dollars roughly equal to Phase 1 • Lower headcount base in Phase 2 versus Phase 1 • Expect cost reductions will come faster than Phase 1 work while overall dollar results are likely to be lower than Phase 1 based on early analysis Phase 2 Commercial Banking / GWIM / Global Corporate Banking / Global Markets / Support Areas • Default-related servicing costs are expected to decline as the portfolio is liquidated • Costs associated with businesses exited are declining Sold/Liquidating Businesses Legacy Asset Servicing / International Consumer Card / Balboa / Correspondent • Merger charges ended in 4Q11 Other Expenses Amortization / FDIC insurance / Litigation settlements / Waivers and assessments / Merger charges

• Net charge-offs declined $937MM in 4Q11 compared to 3Q11 – Driven primarily by continued improvement in the U.S. credit card and consumer real estate portfolios – 4Q11 decline includes recoveries of approximately $375MM from the sale of previously charged-off U.K. credit card loans and lien protection insurance in home equity • 30+ days performing delinquencies (excluding fully insured home loans) improved for the 11th consecutive quarter, down $489MM • Nonperforming loans and foreclosed properties continued to decline • Total provision expense was $3.2B ($3.5B charge-offs and reserve reduction of $384MM) • $29.6B allowance for loan and lease losses provides coverage for 4.88% of loans compared to $30.3B and 4.90% coverage in 3Q11 – Allowance covers 2.11 times current period annualized net charge-offs compared to 1.70 times in 3Q11 (excluding PCI allowance: 1.51 times in 4Q11 vs. 1.24 times in 3Q11) 22 ____________________ 1 Excludes FHA-insured loans and other loans individually insured under long-term standby agreements. 2 Represents a non-GAAP financial measure. 3 Excludes FVO loans. Consumer Net Charge-offs ($MM) Consumer Credit Trends $ in millions 3Q11 4Q10 Net charge-offs $3,538 ($937) ($2,316) 30+ days performing delinquencies 1 12,063 (489) (5,848) Nonperforming loans and foreclosed properties 20,759 (280) (1,344) Provision expense 3,154 (312) (2,063) Allowance for loan and lease losses 29,648 (609) (5,067) Allowance for loan a d lease losses excl. CFC PCI 2 21,189 (829) (7,192) % coverage of lo s and leases 3 4.88% (2)bps (52)bps % coverage of lo s a leases excl. CFC PCI 2, 3 3.68% (8)bps (98)bps # times of ann aliz net charge-offs 2.11x 0.41x 0.62x # times of annualized ne charge-offs excl. CFC PCI 2 1.51x 0.27 x 0.29 x 4Q11 Inc/(Dec) $834 $939 $1,396 $284 $63 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 4Q10 1Q11 2Q11 3Q11 4Q11 Residential mortgage Home equity Credit card Direct/Indirect Other Consumer

23 ____________________ 1 Excludes FHA-insured loans and other loans individually insured under long-term standby agreements. 2 Excludes PCI loans. Residential Mortgage, 30+ Days Performing Past Due ($B,%) 1, 2 Home Equity, 30+ Days Performing Past Due ($B,%) 2 Residential Mortgage and Home Equity 30+ Days Performing Delinquencies $7.6 $7.1 $5.1 $4.4 $4.3 $4.0 $4.0 3.2% 3.1% 2.8% 2.6% 2.5% 2.4% 2.5% 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 3.5% $2.5 $3.5 $4.5 $5.5 $6.5 $7.5 $8.5 4Q08 4Q09 4Q10 1Q11 2Q11 3Q11 4Q11 30+ days past due 30+ days past due % $2.7 $2.2 $1.9 $1.8 $1.7 $1.7 $1.7 1.9% 1.6% 1.5% 1.5% 1.4% 1.5% 1.5% 0.0% 0.5% 1.0% 1.5% 2.0% $1.0 $1.5 $2.0 $2.5 $3.0 4Q08 4Q09 4Q10 1Q11 2Q11 3Q11 4Q11 30+ days past due 30+ days past due %

24 Residential Mortgage NPAs ($MM) Home Equity NPAs ($MM) Consumer Nonperforming Loans, Leases and Foreclosed Properties (NPAs) $4,942 $4,790 $4,607 $4,584 $4,613 $13,734 $13,703 $13,364 $13,092 $12,783 $18,676 $18,493 $17,971 $17,676 $17,396 $0 $5,000 $10,000 $15,000 $20,000 $25,000 4Q10 1Q11 2Q11 3Q11 4Q11 Resi < 180 days past due Resi ≥ 180 days past due $1,778 $1,625 $1,433 $1,368 $1,390 $985 $1,008 $984 $1,029 $1,120 $2,763 $2,633 $2,417 $2,397 $2,510 $0 $1,000 $2,000 $3,000 $4,000 4Q10 1Q11 2Q11 3Q11 4Q11 Home Equity <180 days past due Home Equity ≥ 180 days past due • Consumer Real Estate NPAs continue to show modest improvement as total balances have declined six straight quarters • Residential Mortgage NPAs declined from 3Q11 as charge-offs, paydowns and returns to performing status continue to outpace new nonaccrual loans. Home Equity NPAs increased from 3Q11 driven by inflows outpacing charge-offs and returns to performing status

• Net charge-offs decreased $95MM in 4Q11 compared to 3Q11 – Driven by the absence of a commercial real estate bulk sale in 3Q11 • Nonperforming loans, leases and foreclosed properties decreased $1.1B (13%) from 3Q11 and $3.6B (34%) from 4Q10 – 8th consecutive quarter with declines; 48% decline from 4Q09 peak • Reservable criticized decreased $3.7B (12%) from 3Q11 and $15.4B (36%) from 4Q10 – 9th consecutive quarter with declines; 55% decline from 3Q09 peak • Total provision benefit of $220MM includes unfunded lending commitments – Recorded a reserve reduction of $736MM • $4.1B allowance for loan and lease losses now covers 2.02 times current period annualized net charge-offs compared to 1.99 times in 3Q11 25 ____________________ 1 Includes FVO loans. 2 Excludes FVO loans. Commercial Net Charge-offs ($MM) Commercial Credit Trends $ in millions 3Q11 4Q10 Net charge-offs $516 ($95) ($413) C&I ending loans (growth 3% vs. 3Q11, 15% vs. 4Q10) 1 241,982 8,107 31,126 Nonperforming loans, leases and foreclosed properties 6,949 (1,071) (3,612) Reservable criticized 27,247 (3,654) (15,374) Provision expens (220) (161) (132) Allowance for loan a d lease losses 4,135 (690) (3,035) % coverage of loans and leases 2 1.33% (26)bps (111)bps # times annualized net charge-offs 2.02x 0.03 x 0.08x 4Q11 Inc/(Dec) $96 $188 $200 $0 $100 $200 $300 $400 $500 4Q10 1Q11 2Q11 3Q11 4Q11 Commercial & Industrial Small business Commercial real estate

3.5% 4.0% 4.5% 4.5% 4.5% 4.5% 4.5% 0.6% 1.25% 1.9% 2.5% 3.5% 4.0% 4.5% 0.0% 2.0% 4.0% 6.0% 8.0% 10.0% 2013 2014 2015 2016 2017 2018 2019 SIFI up to 250 bps Capital Conservation Buffer Tier 1 Common Minimum 1/1/2013 0% 1/1/2014 20% 1/1/2015 40% 1/1/2016 60% 1/1/2017 80% 1/1/2018 100% 1/1/2019 100% Capital Deduction Phase-In Basel III 26 • December 31, 2012 risk-weighted assets (RWA) goal of $1.75T 2 – Updated from previous $1.8T goal 2 – RWA reduced $172B under Basel 1 in 2011 • Additional RWA mitigation efforts have been identified and will continue after December 31, 2012 • Have actively mitigated against Basel III capital numerator deductions which phase in starting in 2014 – Addressed deductions associated with minority interest in financial institution ownership stakes – Aggressively reducing MSRs – DTA balances expected to decline as more earnings are generated • Tier 1 Common Equity Ratio under Basel III expected to be in a range of 7.25 - 7.5% (fully phased-in) YE12 2 – Previous guidance was a range of 6.75% - 7.0% 2 Basel Capital Requirements 1 ____________________ 1 Based on BCBS’ Basel III: A global regulatory framework for more resilient banks and banking systems, issued December 2010 and revised June 2011 and the press release on global systemically important banks dated June 25, 2011. Data assumes no counter-cyclical capital buffer in effect. 2 Assumes approval of all regulatory models.

2012 Commentary 27 • Headwinds of global economies, housing prices, interest rates and Eurozone debt crisis persist • Net interest income expected to remain muted ‒ Modest core loan growth expected to partially offset divestitures and run-off portfolios ‒ Compression as higher yielding assets mature will be partially offset by continued reductions in long- term debt footprint • Consumer noninterest revenue lines expected to be highly correlated with economy • Market-related revenue of investment banking, sales and trading, and investment and brokerage is dependent on market environment • Charge-off improvement is expected to continue while reserve releases are expected to slow • Expense expected to benefit from heightened focus on savings including New BAC savings and lower legacy mortgage-related costs compared to 2011 • Entering 2012 with higher capital, liquidity and combined reserves for credit, representations and warranties, and litigation than any year in company history

Appendix

Full-Year Income Statement 29 FY2011 FY2010 Inc/(Dec) Revenue, net of interest expense (FTE) 1, 2 $94.4 $111.4 ($17.0) Provision for credit losses 13.4 28.4 (15.0) Noninterest expense 3 80.3 83.1 (2.8) Pre-tax income (loss) 0.7 (0.1) 0.8 Income tax expense (benefit) (FTE) 1, 4 (0.7) 2.1 (2.8) Net income (loss) 1.4 (2.2) 3.6 Preferred stock dividends 1.3 1.4 (0.1) Net income (loss) applicable to common shareholders $0.1 ($3.6) $3.7 Average diluted common shares (MM) 10,254.8 9,790.5 464.3 Diluted earnings (loss) per common share $0.01 ($0.37) $0.38 Excluding goodwill impairment charges 1 Noninterest expense $77.1 $70.7 $6.4 Pre-tax income 3.9 12.3 (8. ) Net income 4.6 0.2 (5.6) t i c applicable to common shareholders 3.3 8.8 ( .5) Diluted earnings per common share $0.32 $0.86 ($0.54) Income Statement Highlights ($B, except per share amounts) ____________________ 1 Represents a non-GAAP financial measure. For a reconciliation to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related materials. 2 On a GAAP basis, revenue, net of interest expense, was $93.5B and $110.2B for 2011 and 2010. 3 Includes goodwill impairment charges of $3.2B and $12.4B for 2011 and 2010. 4 On a GAAP basis, income tax benefit was $1.7B in 2011 and income tax expense was $915MM in 2010.

30 Risk-weighted Assets ($B) Tier 1 Common Equity Ratio and Tier 1 Capital Ratio Regulatory Capital 8.60% 8.64% 8.23% 8.65% 9.86% 11.24% 11.32% 11.00% 11.48% 12.40% 7.0% 8.0% 9.0% 10.0% 11.0% 12.0% 13.0% 4Q10 1Q11 2Q11 3Q11 4Q11 Tier 1 common equity ratio Tier 1 capital ratio $1,456 $1,433 $1,393 $1,360 $1,284 $0 $500 $1,000 $1,500 $2,000 4Q10 1Q11 2Q11 3Q11 4Q11

____________________ 1 FTE basis. FTE basis for the Total Corporation and pre-tax, pre-provision are non-GAAP financial measures. 2 For reconciliations to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. 31 4Q11 Results by Business Segment ($MM) Total Corporation Deposits Card Services Consumer Real Estate Services Global Commercial Banking Global Banking & Markets Global Wealth & Investment Management All Other Net interest income 1, 2 $10,959 $1,998 $2,765 $809 $1,756 $1,733 $1,495 $403 Card income (loss) 1,478 (3) 1,306 - 88 31 (34) 90 Service charges 1,982 1,036 4 - 519 403 20 - Investment and brokerage services 2,694 40 - - 6 469 2,190 (11) Investment banking income (loss) 1,013 1 - - 9 1,046 73 (116) Equity investment income 3,227 - 2 6 47 35 30 3,107 Trading account profits (losses) 280 - - - (2) 261 34 (13) Mortgage banking income (loss) 2,119 - - 2,330 - 16 7 (234) Insurance income (loss) 143 3 25 (3) 1 - 76 41 Gains on sales of debt securities 1,192 - 27 54 1 8 - 1,102 All other income (loss) 59 5 (69) 80 131 (280) 273 (81) Total noninterest income 14,187 1,082 1,295 2,467 800 1,989 2,669 3,885 Total revenue, net of interest expense 1, 2 25,146 3,080 4,060 3,276 2,556 3,722 4,164 4,288 Total noninterest expense 19,522 2,798 1,393 4,596 1,039 4,287 3,649 1,760 Pre-tax, pre-provision earnings (loss) 1 5,624 282 2,667 (1,320) 1,517 (565) 515 2,528 Provision for credit losses 2,934 57 1,138 1,001 (146) (27) 118 793 Income (loss) before income taxes 2,690 225 1,529 (2,321) 1,663 (538) 397 1,735 Income tax expense (benefit) 1, 2 699 84 507 (862) 615 (105) 148 312 Net income (loss) $1,991 $141 $1,022 ($1,459) $1,048 ($433) $249 $1,423

32 ____________________ 1 The Other component within CRES includes the results of certain MSR activities, including net hedge results, together with any related assets or liabilities used as economic hedges. 2 FTE basis. 3 Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding mortgage servicing rights). Represents a non-GAAP financial measure. For reconciliation to GAAP financial measures, see the accompanying reconciliations in the earnings press release and other earnings-related information. n/a = not applicable. CRES Financial Results ($MM) Net interest income 2 $444 $384 ($19) $809 Noninterest income: Mortgage banking income 727 439 1,164 2,330 Insurance loss (3) - - (3) All other income 100 40 - 140 Total noninterest income 824 479 1,164 2,467 Total revenue, net of interest expense 1,268 863 1,145 3,276 Provision for credit losses 63 938 - 1,001 Noninterest expense 1,101 3,496 (1) 4,596 Income (loss) before income taxes 104 (3,571) 1,146 (2,321) Income tax expense (benefit) 2 39 (1,327) 426 (862) Net income (loss) $65 ($2,244) $720 ($1,459) Balance Sheet Average Total loans and leases $54,300 $62,693 - $116,993 Total earning assets 63,736 65,985 $10,068 139,789 Total assets 65,801 82,723 23,239 171,763 Allocated equity n/a n/a n/a 14,757 Economic capital 3 n/a n/a n/a 14,757 Period end Total loans and leases $52,369 $59,990 - $112,359 Total earning assets 58,822 63,331 $10,228 132,381 Total assets 61,417 79,023 23,272 163,712 Total CRESHome Loans Legacy Asset Servicing Other 1 4Q11

Representations and Warranties Information

• Total representations and warranties provision for the quarter was $263MM primarily related to the GSEs which is consistent with 3Q11 • Estimated range of possible loss related to non-GSE representations and warranties exposure could be up to $5B over existing accruals at December 31, 2011. The company is not currently able to reasonably estimate the possible loss or range of possible loss with respect to GSE representations and warranties exposure over existing accruals at December 31, 2011 • Increase in other new claims is primarily related to repurchase requests received from trustees on private-label securitization transactions not included in the BNY Mellon settlement • Our repurchase experience with the GSEs continues to evolve and their repurchase requests and resolution processes remain inconsistent with our interpretation of our contractual obligations. These developments have resulted in an increase in claims outstanding from the GSEs. We intend to repurchase loans to the extent required under the contracts and standards that govern our relationships with the GSEs 34 Liability for Representations and Warranties ($MM) Outstanding Claims by Counterparty ($MM) New Claim Trends ($MM) Representations and Warranties ____________________ 1 Represents mix of new claims for 2011. 2 Includes $1.7B in demands from private-label securitization investors who do not have the right to demand repurchase of loans directly. However, inclusion of these claims does not mean we believe that the claimant has satisfied the contractual thresholds to direct the securitization trustee to take action or that these claims are otherwise procedurally or substantively valid. A claimant has filed litigation against the company relating to certain of these claims. This $1.7B in claims relates to loans underlying securitizations included in the settlement with BNY Mellon, as trustee. If the settlement is approved by the court, these claims will be resolved by the settlement. 4Q10 1Q11 2Q11 3Q11 4Q11 Beginning Balance $4,402 $5,438 $6,220 $17,780 $16,271 Additions for new sales 8 7 3 3 7 Provision 4,140 1,013 14,037 278 263 Charge-offs (3,028) (238) (2,480) (1,790) (683) Other (84) - - - - Ending Balance $5,438 $6,220 $17,780 $16,271 $15,858 Q10 1Q11 Q11 3Q11 4Q11 GSEs $2,821 $5,350 $5,081 $4,721 $6,258 Monolines 4,678 4,979 3,052 3,058 ,082 Other 2 3,188 3,235 3,447 3,893 4,912 Total $10,687 $13,564 $11,580 $11,672 $14,252 4Q10 1Q11 2Q11 3Q11 4Q11 Mix 1 Pre 2005 $455 $130 $210 $95 $77 3% 2005 957 409 431 668 751 13% 2006 2,105 1,584 763 925 1,400 27% 2007 1,775 2,253 1,746 1,493 2,168 44% 2008 351 483 389 451 331 10% Post 2008 105 128 158 164 126 3% New Claims $5,748 $4,987 $3,697 $3,796 $4,853 % GSEs 57% 88% 90% 87% 68% Rescinded claims $4,106 $934 $3,772 $1,454 $1,229 Approved repurchases 3,934 1,109 2,002 2,241 1,170 Outstanding claims 10,687 13,564 11,580 11,672 14,252 % GSEs 26% 39% 44% 40% 44%

• Does not include litigation reserves established • Estimated Range of Possible Loss (RPL) above accruals up to $5B for non-GSE exposures at December 31, 2011 • Exposures identified above relate to repurchase claims associated with purported representations and warranties breaches in RMBS transactions. They do not include any exposures associated with related litigation matters asserting different claims, nor do they include any separate foreclosure costs and related costs and assessments, or any possible losses related to potential claims for breaches of performance of servicing obligations, potential securities law or fraud claims, potential indemnity or other claims against us, including claims related to loans guaranteed by the FHA, which could be material 35 ____________________ 1 Reserves established and RPL are subject to adjustments in future periods based on a number of factors including ultimate resolution of the BNY Mellon settlement, estimated repurchase rates, economic conditions, home prices, consumer and counterparty behavior, and a variety of judgmental factors. Representations and Warranties Exposure Status as of December 31, 2011 ($B) Representations and Warranties Exposure (2004-2008 vintages) Counterparty Original Balance Outstanding Balance Have Paid Reserves Established 1 Commentary 1 GSE - FHLMC (CFC) $196 $90 FHLMC Agreement GSE All Other 922 358 Reserves established, FNMA Pipeline Agreement Second-lien monoline 81 14 Agreement with Assured and part of RPL Whole loans sold 55 16 Reserves established Private l bel (CFC issued) 409 158 Reserves established; BNY Mellon settlement pending court approval Private label (non CFC bank issued) 242 64 Reserves established Private label (3rd party issued) 176 68 Included in non-GSE RPL $2,081 $768 $13 $16 (2004-2008) Originations

Additional Asset Quality Information

37 ____________________ 1 Includes FHA-insured loans and loans individually insured under long-term standby agreements. 2 Excludes PCI loans. FHA and Other Fully Insured Home Loans ($MM) • During 4Q11, our 30+ days performing delinquency trends continued to improve – Total consumer 30+ days performing delinquency excluding fully insured home loans improved for the 11th consecutive quarter, down $489MM – Total consumer credit card of $394MM led the decline Impact of FHA and Other Fully Insured Home Loans on Delinquencies 1 4Q11 3Q11 2Q11 1Q11 4Q10 FHA and Other Fully Insured Home Loans 30+ Days Performing Delinquencies $24,738 $24,140 $23,802 $22,961 $19,150 Change from prior period 598 338 841 3,811 894 30+ Days Performing Delinquency Amounts Total consumer as reported $36,801 $36,692 $37,319 $38,072 $36,254 Total consumer excluding FHA and other fully insured home loans 2 12,063 12,552 13,517 15,111 17,104 Residential mortgages as reported 28,688 28,146 28,091 27,381 24,267 Re idential mortgages excluding FHA and other fully insured home loans 2 3,950 4,006 4,289 4,420 5,117 30+ Days Performing Delinquency Ratios Total consumer as reported 6.06% 5.94% 5.90% 6.00% 5.63% Total consumer excluding FHA and other fully insured home loans 2 2.51% 2.54% 2.63% 2.90% 3.16% Residential mortgages as reported 10.94% 10.56% 10.55% 10.45% 9.41% Residential mortgages excluding FHA and other fully insured home loans 2 2.49% 2.44% 2.52% 2.57% 2.84%

38 ____________________ 1 Excludes FVO loans. 2 Loan-to-value (LTV) calculations apply to the residential mortgage portfolio. Combined loan-to-value (CLTV) calculations apply to the home equity portfolio. Home Loans Asset Quality Key Indicators ($MM) As Reported Excluding Countrywide Purchased Credit- impaired and Fully Insured Loans As Reported Excluding Countrywide Purchased Credit- impaired and Fully Insured Loans As Reported Excluding Countrywide Purchased Credit- impaired As Reported Excluding Countrywide Purchased Credit- impaired Loans end of period $262,290 $158,470 $266,516 $164,373 $124,699 $112,721 $127,736 $115,594 Loans average 264,992 161,585 267,308 167,040 126,251 114,226 129,125 116,918 Net charge-offs $834 $834 $989 $989 $939 $939 $1,092 $1,092 % of average loans 1.25% 2.05% 1.47% 2.35% 2.95% 3.27% 3.35% 3.70% Allowance for loan losses $5,935 $4,604 $5,832 $4,511 $13,094 $7,965 $12,998 $7,925 % of loans 2.26% 2.91% 2.19% 2.74% 10.50% 7.07% 10.18% 6.86% Average refreshed (C)LTV 2 83 84 86 88 90%+ refreshed (C)LTV 2 37% 37% 43% 45% Average refreshed FICO 716 712 726 726 % below 620 FICO 15% 16% 12% 12% Residential Mortgage 1 Home Equity 4Q11 3Q11 4Q11 3Q11

39 Home Equity ($B) • Of the $88.2B second-lien positions, approximately 40%, or $35.2B, have CLTV>100% – Does not mean entire second-lien position is necessarily a loss in the event of default – Assuming proceeds of 85% of the collateral value, we estimate collateral value of $9.0B available for second liens – Of the second-lien loans with CLTVs greater than 100% that are current at 4Q11, we estimate based on available credit bureau data that 89% are current on both their second-lien and underlying first-lien loan ____________________ 1 Charge-offs do not include Countrywide PCI portfolio as they were considered in establishing nonaccretable difference in the original purchase accounting. 4Q11 3Q11 2Q11 1Q11 4Q10 % Stand-alone (non piggy-back) 92% 92% 91% 90% 90% Legacy Countrywide PCI loans $12.0 $12.1 $12.3 $12.5 $12.6 Allowance for PCI loans 5.1 5.1 5.1 4.9 4.5 Non PCI first-lien loans 24.5 24.9 25.1 25.4 24.8 Non PCI second-lien loans 88.2 90.7 93.3 95.7 100.5 Second liens > 100% CLTV 40% 43% 43% 40% 36% % Current 94% 94% 94% 93% 93% Allowance for non PCI loans $8.0 $7.9 $8.0 $7.9 $8.4 Total net charge-offs 1 0.9 1.1 1.3 1.2 1.3