8-K

As filed with the Securities and Exchange Commission on January 19, 2016

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, 2016

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:

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

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

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

o 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, 2016, Bank of America Corporation (the "Corporation") announced financial results for the fourth quarter and year ended December 31, 2015, reporting fourth quarter net income of $3.3 billion, or $0.28 per diluted share, and net income for the year of $15.9 billion, or $1.31 per diluted share. A copy of the press release announcing the Corporation's results for the fourth quarter and year ended December 31, 2015 (the "Press Release") is attached hereto as Exhibit 99.1 and is incorporated by reference in this Item 2.02. The Press Release is available on the Corporation's website.

The information provided in Item 2.02 of this report, including Exhibit 99.1, shall be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended.

ITEM 7.01. REGULATION FD DISCLOSURE.

On January 19, 2016, the Corporation will hold an investor conference call and webcast to discuss financial results for the fourth quarter and year ended December 31, 2015, including the Press Release and other matters relating to the Corporation.

The Corporation has also made available on its website presentation materials containing certain historical and forward-looking information relating to the Corporation (the "Presentation Materials") and materials that contain additional information about the Corporation's financial results for the fourth quarter and year ended December 31, 2015 (the "Supplemental Information"). The Presentation Materials and the Supplemental Information are furnished herewith as Exhibit 99.2 and Exhibit 99.3, respectively, and are incorporated by reference in this Item 7.01. All information in Exhibits 99.2 and 99.3 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 provided in Item 7.01 of this report, including Exhibits 99.2 and 99.3, 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 99.2 or 99.3 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.

Exhibit 99.1 is filed herewith. Exhibits 99.2 and 99.3 are furnished herewith.

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	The Press Release
99.2	The Presentation Materials
99.3	The Supplemental Information

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/ Rudolf A. Bless
	Rudolf A. Bless
	Chief Accounting Officer

Dated: January 19, 2016

INDEX TO EXHIBITS

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	The Press Release
99.2	The Presentation Materials
99.3	The Supplemental Information

EX-99.1

Bank of America Reports Q4-15 Net Income of $3.3B, EPS of $0.28
Full-Year 2015 Net Income of $15.9B, EPS of $1.31(1)
Financial Highlights2	Business Highlights2
•    Revenue, net of interest expense, (FTE basis)up 4% to $19.8B(A) •    Net interest income (NII) (FTE basis) up 2% to $10.0B(A) –Excluding market-related NII and other adjustments(A), NII was $10.5B, compared to $10.3B in Q3-15 and $10.4B in Q4-14 •    Noninterest income up 7% to $9.7B •    Provision for credit losses $0.8B, compared to $0.8B in Q3-15 and $0.2B in Q4-14 •    Noninterest expense declined 2% to $13.9B; excluding litigation, noninterest expense declined 3% to $13.4B(B) •    Net income up 9% to $3.3B; earnings per diluted share $0.28, compared to $0.25 Previously Disclosed Q4-15 Items •    ($0.03) per share for reduction to NII for certain trust preferred securities •    ($0.03) per share for negative impact of U.K. tax law changes Balance Sheet, Capital and Liquidity •    Common equity tier 1 capital (transition) of $163.0B; Common equity tier 1 capital (fully phased-in) of $154.1B(C) •    Global Excess Liquidity Sources increased $65B to record $504B; time to required funding at 39 months(D) •    Total deposit balances up $78B to $1.2T •    Return on average assets 0.61%; return on average common equity 5.1%; return on average tangible common equity 7.3%(E) •    Tangible book value per share(F) increased 8% to $15.62; book value per share increased 6% to $22.54 •    Returned $4.5B in capital to shareholders in 2015 through common stock repurchases and dividends	Consumer Banking	•    Loans up $12B, deposits up $48B2 •    Brokerage assets up 8% •    Total mortgage production up 13% •    Total U.S. credit card spending up 5%
	Global Wealth and Investment Management	•    Total client balances of nearly $2.5T •    Long-term assets under management flows of $7B in Q4-15 •    Loans up $12B, deposits up $16B2
	Global Banking	•Loans up $37B, deposits up $16B2 •No. 3 in Global Investment Banking fees(G) •    Participated in 8 of top 10 debt deals and 7 of top 10 equity deals(G)
	Global Markets	•    Excluding net DVA, sales and trading revenue up 11%(H) –    Fixed income up 20%(H) –    Equities down 3%(H)
	Legacy Assets and Servicing	•    Noninterest expense down 16% to $1.1B; noninterest expense, excluding litigation, down 28% to $795MM(I) •    Number of 60+ days delinquent first mortgage loans down 46% to 103,000 units
	CEO Commentary
	Highest Annual Net Income in Nearly a Decade "The 2015 results were our highest earnings in nearly a decade, reflecting the work we’ve done to develop a straightforward operating model focused on responsible growth and doing more business with each customer and client. We saw solid customer activity in loan growth, deposits, and wealth management asset flows, and we returned more capital to our shareholders. As we build on this progress, we will continue to invest in the future and manage expenses." – Brian Moynihan, Chief Executive Officer

¹  2015 results include early adoption of new accounting guidance on the recognition and measurement of financial instruments. See endnote H for more information.

²  Financial Highlights and Business Highlights comparison to year-ago quarter unless noted. Loan and deposit balances are shown on an end-of-period basis. Fully taxable-equivalent (FTE) basis for the corporation is a non-GAAP financial measure. See endnote A for more information. Total revenue, net of interest expense, on a GAAP basis was $19.5B for Q4-15, and net interest income on a GAAP basis was $9.8B for Q4-15. Earnings per share on a fully diluted basis.

1

CFO Commentary

"Our results this quarter reflect our ongoing efforts to improve operating leverage while continuing to invest in our business. We increased net interest income, managed expenses tightly, and returned $1.3 billion in capital to our shareholders this quarter through common stock repurchases and dividends."

– Paul Donofrio, Chief Financial Officer

Consumer Banking
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue up $33MM to $7.8B –    NII benefited from higher deposits and loans –    Noninterest income down, due primarily to lower mortgage banking income •    Noninterest expense down $76MM, due primarily to lower operating expenses; efficiency ratio improved to 56% from 57% •    Net income up 9% to $1.8B	Net interest income (FTE)	$	5,059		$	5,004		$	4,967
	Noninterest income	2,733			2,828			2,792
	Total revenue (FTE)2	7,792			7,832			7,759
	Provision for credit losses	654			648			653
	Noninterest expense	4,343			4,435			4,419
	Net income	$	1,799		$	1,759		$	1,654
	1Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2Revenue, net of interest expense.
		Three months ended
Business Highlights1,2	($ in billions)	12/31/2015			9/30/2015			12/31/2014
•    No. 1 retail deposit market share3 •    Average deposit balances grew $40B, or 8% •    Average loan balances grew $12B, or 6% •    Total mortgage and home equity production4 grew $2B, or 13%, to $17B •    Client brokerage assets grew $9B, or 8% to $123B •    Approximately 1.3MM new U.S. consumer credit cards issued •    18.7MM mobile banking active users, up 13% •    4,726 financial centers, including 9 new openings during the quarter •    Combined credit/debit spending up $4B to $130B	Average deposits	$	557.3		$	548.9		$	517.6
	Average loans and leases	211.1			206.3			199.2
	Brokerage assets (EOP)	122.7			117.2			113.8
	Total mortgage production4	17.0			16.9			15.0
	Mobile banking users (MM)	18.7			18.4			16.5
	Number of financial centers	4,726			4,741			4,855
	Efficiency ratio (FTE)1	56		%	57		%	57		%
	Return on average allocated capital(J)	25		%	24		%	22		%
	Total U.S. Consumer Credit Card
	New card accounts (MM)2	1.3			1.3			1.2
	Risk-adjusted margin2	9.81		%	9.54		%	9.96		%
	1    Comparisons are to the year-ago quarter unless noted. Efficiency ratio is on an FTE basis. 2    The U.S. card portfolio includes Consumer Banking and GWIM. 3Source: SNL branch data, U.S. retail deposit market share based on June 2015 FDIC deposit data, adjusted to remove commercial balances. 4    Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit.

2

Global Wealth and Investment Management
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue down $160MM to $4.4B –    NII relatively flat, as the benefits from loan and deposit growth were mostly offset by the impact of the firm's allocation of asset liability management (ALM) activities –    Noninterest income down, due to lower transactional activity and lower market valuations •    Noninterest expense up $36MM, due primarily to higher amortization of previously issued stock awards and investments in client-facing professionals, partially offset by lower revenue-related incentives •    Net income down 13% to $614MM	Net interest income(FTE)	$	1,412		$	1,377		$	1,406
	Noninterest income	3,031			3,091			3,197
	Total revenue(FTE)2	4,443			4,468			4,603
	Provision for credit losses	15			(2		)	14
	Noninterest expense	3,478			3,446			3,442
	Net income	$	614		$	656		$	705
	1    Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2    Revenue, net of interest expense.
		Three months ended
Business Highlights1	($ in billions)	12/31/2015			9/30/2015			12/31/2014
•    Average deposit balances grew $12.5B, or 5% •    Average loans and leases grew $12.3B, or 10% •    Total client balances relatively unchanged at nearly $2.5T •    Long-term assets under management (AUM) flows of $7B were the 26th consecutive quarter of positive flows •    Number of wealth advisors increased 5% to 18,167	Average deposits	$	251.3		$	244.0		$	238.8
	Average loans and leases	135.8			133.2			123.5
	Long-term AUM flows	6.7			4.4			9.4
	Liquidity AUM flows	4.8			(3.2		)	(0.3		)
	Pretax margin	21		%	23		%	25		%
	Efficiency ratio (FTE)1	78		%	77		%	75		%
	Return on average allocated capital(J)	20		%	22		%	23		%
	1Comparisons are to the year-ago quarter unless noted. Efficiency ratio is on an FTE basis.

3

Global Banking
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue up $39MM to $4.4B –    NII benefited from increased loan and deposit balances, partially offset by the impact of the firm’s allocation of ALM activities, including liquidity costs, as well as loan spread compression –    Noninterest income increased, driven by improvements in leasing and treasury services, as well as a gain on the sale of a foreclosed property, partially offset by lower investment banking fees •    Provision for credit losses increased $264MM, driven by higher energy-related charge-offs, as well as reserve builds for loan growth and energy exposure •    Noninterest expense decreased, driven by lower litigation and incentive compensation costs, partially offset by investments in client-facing professionals •    Net income down 9% to $1.4B, driven mostly by higher provision for credit losses	Net interest income (FTE)	$	2,435		$	2,346		$	2,415
	Noninterest income2	1,918			1,844			1,899
	Total revenue (FTE)2,3	4,353			4,190			4,314
	Provision for credit losses	233			179			(31		)
	Noninterest expense	1,938			2,018			1,969
	Net income	$	1,378		$	1,277		$	1,520
	1Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities. 3Revenue, net of interest expense.
		Three months ended
Business Highlights1	($ in billions)	12/31/2015			9/30/2015			12/31/2014
•    Average deposit balances grew $15.7B, or 5% •    Average loans and leases grew $33.3B, or 12% •    Corporation-wide investment banking fees of $1.3B (excluding self-led deals) declined 17%, driven by lower leveraged finance and equity issuance, partly offset by higher advisory fees –    Ranked No. 3 globally in net investment banking fees(G) –    Second-highest quarter in advisory fees since merger –    Participated in 8 of top 10 debt deals and 7 of top 10 equity deals(G)	Average deposits	$	307.8		$	296.3		$	292.1
	Average loans and leases	320.3			310.0			287.0
	Total Corp. IB fees (excl. self-led)2	1.3			1.3			1.5
	Global Banking IB fees2	0.7			0.8			0.8
	Business Lending revenue	2.0			1.9			1.9
	Global Transaction Services revenue	1.6			1.6			1.6
	Efficiency ratio (FTE)1	44		%	48		%	46		%
	Return on average allocated capital(J)	16		%	14		%	18		%
	1Comparisons are to the year-ago quarter unless noted. Efficiency ratio is on an FTE basis. 2Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities.

4

Global Markets
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue up $741MM to $3.1B; excluding net DVA4, revenue up $313MM to $3.3B, driven primarily by improved sales and trading results and a gain on an equity investment, partially offset by lower investment banking fees •    Noninterest expense increased $232MM, due primarily to higher revenue-related expenses •    Net income of $185MM, compared to a loss of $75MM; excluding DVA, net income was $308MM, compared to $316MM4	Net interest income (FTE)	$	1,166		$	1,135		$	1,036
	Noninterest income2	1,962			2,635			1,351
	Total revenue2,3	3,128			3,770			2,387
	Net DVA4	(198		)	12			(626		)
	Total revenue (excl. net DVA) (FTE)2,3,4(H)	3,326			3,758			3,013
	Provision for credit losses	30			42			26
	Noninterest expense	2,754			2,683			2,522
	Net income (loss)	$	185		$	821		$	(75	)
	1    Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2    Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities. 3    Revenue, net of interest expense. 4    Revenue excluding net DVA is a non-GAAP financial measure. In Q4-14, a funding valuation adjustment (FVA) charge of $497MM was recorded and included in net DVA. In Q4-15, the Corporation early adopted new accounting guidance on recognition and measurement of financial instruments. See endnote H for additional information.
		Three months ended
Business Highlights1	($ in billions)	12/31/2015			9/30/2015			12/31/2014
•    Sales and trading revenue up $0.7B to $2.4B •    Excluding net DVA, sales and trading revenue up 11% to $2.6B(H) –    FICC increased 20%, reflecting improvement across most products, notably in rates and credit-related products(H) –    Equities down 3%, due to lower levels of client activity(H) •    No. 1 global research firm for 5th consecutive year2	Average trading-related assets	$	416.1		$	431.5		$	455.5
	Average loans and leases	68.8			66.4			58.1
	Sales and trading revenue	2.4			3.2			1.7
	Sales and trading revenue(excl. net DVA)(H)	2.6			3.2			2.4
	Global Markets IB fees	0.5			0.5			0.7
	Efficiency ratio (FTE)1	88		%	71		%	106		%
	Return on average allocated capital(J)	2		%	9		%	n/m
	n/m = not meaningful 1Comparisons are to the year-ago quarter unless noted. Efficiency ratio is on an FTE basis. 2Source: Institutional Investor magazine.

5

Legacy Assets and Servicing
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue down $50MM, driven by a decrease in NII on lower loan balances, as well as a modest decline in noninterest income, as lower servicing fees and mortgage servicing rights performance, net of hedge results, were partially offset by lower representations and warranties provision •    The benefit in the provision for credit losses was $103MM lower, driven primarily by a slower pace of portfolio improvement •    Noninterest expense down 16% to $1.1B; excluding litigation, noninterest expense down 28% to $795MM, due mostly to lower servicing costs(I) •    Number of 60+ days delinquent first mortgage loans serviced down 46% to 103,000 units •    Number of LAS employees3 declined 35% to 11,200 •    Net loss declined to $351MM from $379MM	Net interest income(FTE)	$	347		$	382		$	390
	Noninterest income	241			458			248
	Total revenue (FTE)2	588			840			638
	Provision for credit losses	(10		)	6			(113		)
	Noninterest expense	1,148			1,142			1,360
	Litigation expense	353			228			256
	Noninterest expense (excl. litigation)	795			914			1,104
	Net loss	$	(351	)	$	(196	)	$	(379	)
	1Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2Revenue, net of interest expense. 3Includes other FTEs supporting LAS (contractors).

All Other
		Three months ended
Financial Results1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Revenue improved $201MM to ($545MM) –    NII impacted by $0.6B reduction for certain trust preferred securities, as well as $0.1B positive market-related adjustments on debt securities –    Noninterest income improved, driven primarily by the absence of a provision for U.K. payment protection insurance as well as higher gains on sale of debt securities •    The benefit in the provision for credit losses of $112MM declined, driven by lower recoveries including those on the sale of nonperforming loans •Noninterest expense down $274MM, due primarily to lower personnel and litigation costs, partially offset by higher professional fees •    Income tax includes the $290MM negative impact from U.K. tax law changes •    Net loss declined to $289MM from $375MM	Net interest income (FTE)	$	(387	)	$	(502	)	$	(349	)
	Noninterest income	(158		)	14			(397		)
	Total revenue(FTE)2	(545		)	(488		)	(746		)
	Provision for credit losses	(112		)	(67		)	(330		)
	Noninterest expense	210			84			484
	Net income (loss)	$	(289	)	$	4		$	(375	)
	1 Comparisons are to the year-ago quarter unless noted. Revenue and net interest income are on an FTE basis. 2Revenue, net of interest expense. Note: All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were in All Other. Additionally, certain residential mortgage loans that are managed by Legacy Assets and Servicing are held in All Other. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments, which is comprised of a portfolio of equity, real estate and other alternative investments.

6

Credit Quality
		Three months ended
Highlights1	($ in millions)	12/31/2015			9/30/2015			12/31/2014
•    Credit quality remained strong, improving across all consumer portfolios, while the energy sector of the commercial portfolio experienced elevated charge-offs and criticized levels •    Net charge-offs were $1.1B, compared to $0.9B •    Excluding losses associated with the August 2014 DoJ settlement, collateral valuation adjustments, and nonperforming loan sale and other recoveries, net charge-offs were $1B in both Q4-15 and the year-ago quarter •    The net charge-off ratio increased to 0.51% from 0.40%. Excluding the items noted above, the net charge-off ratio was 0.45% in Q4-15, compared to 0.47% •    Provision for credit losses of $810MM was relatively stable compared to the third quarter of 2015 and up from the year-ago quarter due to lower consumer recoveries, a slower pace of improvement in the consumer portfolio, and higher reserve builds in the commercial portfolio, due to loan growth and energy sector exposure •    Net reserve release was $334MM, compared to $660MM; after adjusting for certain items reserved for in prior quarters, the net reserve release was $195MM, compared to $509MM •    Criticized commercial exposures increased to $16.5B from $13.6B in the prior quarter and $11.6B in Q4-14, primarily due to increases in the energy sector	Provision for credit losses	$	810		$	806		$	219
	Net charge-offs	1,144			932			879
	Net charge-off ratio2	0.51		%	0.42		%	0.40		%
	At period-end
	Nonperforming loans, leases and foreclosed properties	$	9,836		$	10,336		$	12,629
	Nonperforming loans, leases and foreclosed properties ratio3	1.10		%	1.17		%	1.45		%
	Allowance for loan and lease losses	$	12,234		$	12,657		$	14,419
	Allowance for loan and lease losses ratio4	1.37		%	1.44		%	1.65		%
	1Comparisons are to the year-ago quarter unless noted. 2    Net charge-off ratio is calculated as annualized net charge-offs divided by average outstanding loans and leases during the period. 3    Nonperforming loans, leases and foreclosed properties ratio is calculated as nonperforming loans, leases and foreclosed properties divided by outstanding loans, leases and foreclosed properties at the end of the period. 4    Allowance for loan and lease losses ratio is 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 accounted for under the fair value option.

7

Balance Sheet, Liquidity and Capital Highlights ($ in billions unless noted)
Balance Sheet (end of period)	Three months ended
	12/31/2015			9/30/2015			12/31/2014
Total assets	$	2,144.3		$	2,153.0		$	2,104.5
Total loans and leases	903.0			887.7			881.4
Total deposits	1,197.3			1,162.0			1,118.9
Funding and Liquidity
Long-term debt	$	236.8		$	237.3		$	243.1
Global Excess Liquidity Sources(D)	504			499			439
Time to required funding (months)(D)	39			42			39
Equity
Tangible common shareholders’ equity1	$	162,118		$	161,659		$	151,732
Tangible common equity ratio1	7.8		%	7.8		%	7.5		%
Common shareholders’ equity	$	233,932		$	233,632		$	224,162
Common equity ratio	10.9		%	10.9		%	10.7		%
Per Share Data
Tangible book value per common share (F)	$	15.62		$	15.50		$	14.43
Book value per common share	22.54			22.41			21.32
Common shares outstanding (in billions)	10.38			10.43			10.52
Regulatory Capital
Basel 3 Transition (as reported)2,3
Common equity tier 1 (CET1) capital	$	163.0		$	161.6		$	155.4
Risk-weighted assets	1,602			1,392			1,262
Common equity tier 1 ratio	10.2		%	11.6		%	12.3		%
Basel 3 Fully Phased-in2,4
Common equity tier 1 capital	$	154.1		$	153.1		$	141.2
Standardized approach
Risk-weighted assets	$	1,426		$	1,415		$	1,415
CET1 ratio	10.8		%	10.8		%	10.0		%
Advanced approaches5
Risk-weighted assets	$	1,574		$	1,398		$	1,465
CET1 ratio	9.8		%	11.0		%	9.6		%
Proforma risk-weighted assets	n/a			$	1,570		n/a
Proforma CET1 ratio	n/a			9.7		%	n/a
Supplementary leverage(K)
Tier 1 capital	$	175.8		$	174.6		$	160.5
Bank holding company SLR	6.4		%	6.4		%	5.9		%
Bank SLR	6.9		%	7.0		%	7.0		%

Notes:

¹  Represents a non-GAAP financial measure. For reconciliation, see pages 17-19 of this press release.

²  Regulatory capital ratios are preliminary. Common equity tier 1 (CET1) capital, Tier 1 capital, risk-weighted assets (RWA), CET1 ratio and bank holding company supplementary leverage ratio (SLR) as shown on a fully phased-in basis are non-GAAP financial measures. For a reconciliation of CET1 to fully phased-in, see page 13 of this press release.

³  As previously disclosed, Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital and is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy and was the Advanced approaches in the fourth quarter of 2015. Prior to exiting the parallel run, we were required to report regulatory capital under the Standardized approach only.

⁴  With the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets in the fourth quarter of 2015. Proforma information for Q3-15 includes the impact of these modifications as if effective at September 30, 2015.

⁵  Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, BAC had not received IMM approval.

8

Endnotes
A	Fully taxable-equivalent (FTE) basis for the Corporation is a non-GAAP financial measure. For reconciliation to GAAP financial measures, refer to pages 17-19 of this press release. Net interest income on a GAAP basis was $9.8 billion, $9.5 billion and $9.6 billion for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Net interest income on an FTE basis, excluding market-related and other adjustments, represents a non-GAAP financial measure. Market-related adjustments of premium amortization expense and hedge ineffectiveness were $0.1 billion, ($0.6) billion and ($0.6) billion for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Other adjustments for the quarter ended December 31, 2015 include $0.6 billion in negative adjustments on certain trust preferred securities. Total revenue, net of interest expense, on a GAAP basis was $19.5 billion, $20.4 billion and $18.7 billion for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Net DVA gains (losses) were ($198) million, $12 million and ($626) million for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively.
B	Noninterest expense, excluding litigation expense, is a non-GAAP financial measure. Noninterest expense on a GAAP basis was $13.9 billion, $13.8 billion and $14.2 billion for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Litigation expense was $428 million, $231 million and $393 million for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively.
C	Fully phased-in estimates are non-GAAP financial measures. For reconciliation to GAAP financial measures, refer to pages 17-19 of this press release. On January 1, 2014, the Basel 3 rules became effective, subject to transition provisions primarily related to regulatory deductions and adjustments impacting Common equity tier 1 (CET1) capital and Tier 1 capital. Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. As previously disclosed, with the approval to exit parallel run, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets in the fourth quarter of 2015. Proforma information for Q3-15 includes the impact of these modifications as if effective at September 30, 2015. Basel 3 Advanced approaches estimates on a fully phased-in basis assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, BAC had not received IMM approval.
D	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 other regulated entities are subject to certain regulatory restrictions. Time to required funding is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of Bank of America Corporation can be met using only the parent company’s Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. We define unsecured contractual obligations for purposes of this metric as maturities of senior or subordinated debt issued or guaranteed by Bank of America Corporation. For all periods shown, we have included in the amount of unsecured contractual obligations the liability, including estimated costs, for the previously announced BNY Mellon private-label securitization settlement. As of December 31, 2015, this amount was $8.5B.
E	Return on average tangible common equity is a non-GAAP financial measure. For more information, refer to pages 17-19 of this press release.
F	Tangible book value per share of common stock is a non-GAAP financial measure. For more information, refer to pages 17-19 of this press release.
G	Rankings per Dealogic as of January 5, 2016 for the quarter ended December 31, 2015.
H	In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The Corporation has early adopted, retrospective to January 1, 2015, the provision that requires the Corporation to present unrealized gains/losses resulting from changes in the Corporation's own credit spreads on liabilities accounted for under the fair value option (referred to as debit valuation adjustments, or DVA) in accumulated OCI. The impact of the adoption was to reclassify, as of January 1, 2015, unrealized DVA losses of $2.0B pretax ($1.2B after tax) from January 1, 2015 retained earnings to accumulated OCI. Further, pretax unrealized DVA gains of $301 million, $301 million and $420 million were reclassified from other income to accumulated OCI for Q3-15, Q2-15 and Q1-15, respectively. This had the effect of reducing net income as previously reported for the aforementioned quarters by $187 million, $186 million and $260 million, or approximately $0.02 per quarter. This change is reflected in consolidated results and the Global Markets segment results. Results for 2014 were not subject to restatement under the provisions of the new accounting guidance. Revenue for all periods included net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities; periods prior to 2015 also included unrealized DVA on structured liabilities. Global Markets revenue, excluding net DVA, and sales and trading revenue, excluding net DVA, are non-GAAP financial measures. Net DVA losses were $198 million and $626 million for the three months ended December 31, 2015 and 2014, respectively. FICC net DVA losses were $190 million and $577 million for the three months ended December 31, 2015 and 2014, respectively. Equities net DVA losses were $8 million and $49 million for the three months ended December 31, 2015 and 2014.
I	Legacy Assets and Servicing (LAS) noninterest expense, excluding litigation, is a non-GAAP financial measure. LAS noninterest expense was $1.1 billion, $1.1 billion and $1.4 billion for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. LAS litigation expense was $353 million, $228 million and $256 million in the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively.
J	Return on average allocated capital is a non-GAAP financial measure. The company believes the use of this non-GAAP financial measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP financial measures, refer to pages 17-19 of this press release.
K	The estimated supplementary leverage ratio is measured using quarter-end Tier 1 capital as the numerator, calculated under Basel 3 on a fully phased-in basis. The denominator is supplementary leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions. At December 31, 2015, the estimated SLR for the Bank Holding Company on a fully phased-in basis was 6.4 percent. Differences between fully phased-in and transitional supplementary leverage exposures are immaterial.

9

Contact Information and Investor Conference Call Invitation
	Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Paul Donofrio will discuss fourth-quarter 2015 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 website at http://investor.bankofamerica.com. For a listen-only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international), and the conference ID is: 79795. Please dial in 10 minutes prior to the start of the call. A replay will also be available beginning at noon ET on January 19 through midnight, January 27 by telephone at 1.800.753.8546 (U.S.) or 1.402.220.0685 (international).
Investor Call Information
Investors May Contact: Lee McEntire, Bank of America, 1.980.388.6780 Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112		Reporters May Contact: Jerry Dubrowski, Bank of America, 1.980.388.2840 jerome.f.dubrowski@bankofamerica.com
About Bank of America

Bank of America is one of the world's leading 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 47 million consumer and small business relationships with approximately 4,700 retail financial centers, approximately 16,000 ATMs, and award-winning online banking with approximately 32 million active users and approximately 19 million mobile users. Bank of America is a global leader in wealth management, 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 3 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in all 50 states, the District of Columbia, the U.S. Virgin Islands, Puerto Rico and more than 35 countries. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Forward-Looking Statements

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,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent Bank of America's current expectations, plans or forecasts of its future results and revenues, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown 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 the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of Bank of America's 2014 Annual Report on Form 10-K, and in any of Bank of America's subsequent Securities and Exchange Commission filings: the Company's ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking to distinguish certain aspects of the ACE Securities Corp. v. DB Structured Products, Inc. (ACE) ruling or to assert other claims seeking to avoid the impact of the ACE ruling; the possibility that the Company could face related servicing, securities, fraud, indemnity, contribution or other claims from one or more counterparties, including trustees,

10

purchasers of loans, underwriters, issuers, other parties involved in securitizations, monolines or private-label and other investors; the possibility that future representations and warranties losses may occur in excess of the Company's recorded liability and estimated range of possible loss for its representations and warranties exposures; the possibility that the Company may not collect mortgage insurance claims; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory proceedings, including the possibility that amounts may be in excess of the Company’s recorded liability and estimated range of possible losses for litigation exposures; the possibility that the European Commission will impose remedial measures in relation to its investigation of the Company's competitive practices; the possible outcome of LIBOR, other reference rate and foreign exchange inquiries and investigations; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Company's exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, currency exchange rates and economic conditions; the impact on the Company's business, financial condition and results of operations of a potential higher interest rate environment; the impact on the Company’s business, financial condition and results of operations from a protracted period of lower energy prices; adverse changes to the Company's credit ratings from the major credit rating agencies; estimates of the fair value of certain of the Company's assets and liabilities; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements, including the potential adoption of total loss-absorbing capacity requirements; the potential for payment protection insurance exposure to increase as a result of Financial Conduct Authority actions; the possible impact of Federal Reserve actions on the Company’s capital plans; the impact of implementation and compliance with new and evolving U.S. and international regulations, including but not limited to recovery and resolution planning requirements, the Volcker Rule, and derivatives regulations; a failure in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber attacks; and other similar matters.

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.

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://newsroom.bankofamerica.com.

www.bankofamerica.com

11

Page 12

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 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income	$	39,251		$	39,952		$	9,801		$	9,511		$	9,635
Noninterest income	43,256			44,295			9,727			10,870			9,090
Total revenue, net of interest expense (1)	82,507			84,247			19,528			20,381			18,725
Provision for credit losses	3,161			2,275			810			806			219
Noninterest expense	57,192			75,117			13,871			13,808			14,196
Income before income taxes	22,154			6,855			4,847			5,767			4,310
Income tax expense	6,266			2,022			1,511			1,446			1,260
Net income (1)	$	15,888		$	4,833		$	3,336		$	4,321		$	3,050
Preferred stock dividends	1,483			1,044			330			441			312
Net income applicable to common shareholders (1)	$	14,405		$	3,789		$	3,006		$	3,880		$	2,738
Common shares issued	4,054			25,866			71			36			648
Average common shares issued and outstanding	10,462,282			10,527,818			10,399,422			10,444,291			10,516,334
Average diluted common shares issued and outstanding	11,213,992			10,584,535			11,153,169			11,197,203			11,273,773
Summary Average Balance Sheet
Total debt securities	$	390,884		$	351,702		$	399,423		$	394,420		$	371,014
Total loans and leases	882,183			903,901			891,861			882,841			884,733
Total earning assets	1,830,342			1,814,930			1,852,958			1,847,396			1,802,121
Total assets	2,160,141			2,145,590			2,180,472			2,168,993			2,137,551
Total deposits	1,155,860			1,124,207			1,186,051			1,159,231			1,122,514
Common shareholders’ equity	230,182			223,072			234,851			231,620			224,479
Total shareholders’ equity	251,990			238,482			257,125			253,893			243,454
Performance Ratios
Return on average assets (1)	0.74		%	0.23		%	0.61		%	0.79		%	0.57		%
Return on average tangible common shareholders’ equity (1, 2)	9.11			2.52			7.32			9.65			7.15
Per common share information
Earnings (1)	$	1.38		$	0.36		$	0.29		$	0.37		$	0.26
Diluted earnings (1)	1.31			0.36			0.28			0.35			0.25
Dividends paid	0.20			0.12			0.05			0.05			0.05
Book value	22.54			21.32			22.54			22.41			21.32
Tangible book value (2)	15.62			14.43			15.62			15.50			14.43
							December 31 2015			September 30 2015			December 31 2014
Summary Period-End Balance Sheet
Total debt securities							$	407,005		$	391,651		$	380,461
Total loans and leases							903,001			887,689			881,391
Total earning assets							1,811,998			1,826,310			1,768,431
Total assets							2,144,316			2,153,006			2,104,534
Total deposits							1,197,259			1,162,009			1,118,936
Common shareholders’ equity							233,932			233,632			224,162
Total shareholders’ equity							256,205			255,905			243,471
Common shares issued and outstanding							10,380,265			10,427,305			10,516,542
Credit Quality	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Total net charge-offs	$	4,338		$	4,383		$	1,144		$	932		$	879
Net charge-offs as a percentage of average loans and leases outstanding (3)	0.50		%	0.49		%	0.51		%	0.42		%	0.40		%
Provision for credit losses	$	3,161		$	2,275		$	810		$	806		$	219
							December 31 2015			September 30 2015			December 31 2014
Total nonperforming loans, leases and foreclosed properties (4)							$	9,836		$	10,336		$	12,629
Nonperforming loans, leases and foreclosed properties as a percentage of total loans, leases and foreclosed properties (3)							1.10		%	1.17		%	1.45		%
Allowance for loan and lease losses							$	12,234		$	12,657		$	14,419
Allowance for loan and lease losses as a percentage of total loans and leases outstanding (3)							1.37		%	1.44		%	1.65		%
For footnotes see page 13.

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

Page 13

Bank of America Corporation and Subsidiaries
Selected Financial Data (continued)
(Dollars in millions)
	Basel 3 Transition
Capital Management	December 31 2015			September 30 2015			December 31 2014
Risk-based capital metrics (5, 6, 7):
Common equity tier 1 capital	$	163,026		$	161,649		$	155,361
Common equity tier 1 capital ratio	10.2		%	11.6		%	12.3		%
Tier 1 leverage ratio	8.6			8.5			8.2
Tangible equity ratio (8)	8.9			8.8			8.4
Tangible common equity ratio (8)	7.8			7.8			7.5
Regulatory Capital Reconciliations(5, 7, 9)	December 31 2015			September 30 2015			December 31 2014
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition) (6)	$	163,026		$	161,649		$	155,361
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(5,151		)	(5,554		)	(8,905		)
Accumulated OCI phased in during transition	(1,917		)	(1,018		)	(1,592		)
Intangibles phased in during transition	(1,559		)	(1,654		)	(2,556		)
Defined benefit pension fund assets phased in during transition	(568		)	(470		)	(599		)
DVA related to liabilities and derivatives phased in during transition	307			228			925
Other adjustments and deductions phased in during transition	(54		)	(92		)	(1,417		)
Common equity tier 1 capital (fully phased-in)	$	154,084		$	153,089		$	141,217
Risk-weighted assets – As reported to Basel 3 (fully phased-in)
Basel 3 Standardized approach risk-weighted assets as reported (6)	$	1,401,849		$	1,391,672		$	1,261,544
Changes in risk-weighted assets from reported to fully phased-in	24,088			22,989			153,722
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	$	1,425,937		$	1,414,661		1,415,266
Basel 3 Advanced approaches risk-weighted assets as reported	$	1,602,070		n/a			n/a
Changes in risk-weighted assets from reported to fully phased-in	(27,690		)	n/a			n/a
Basel 3 Advanced approaches risk-weighted assets (fully phased-in) (10)	$	1,574,380		$	1,397,504		1,465,479
Regulatory capital ratios
Basel 3 Standardized approach common equity tier 1 (transition) (6)	11.6		%	11.6		%	12.3		%
Basel 3 Advanced approaches common equity tier 1 (transition)	10.2			n/a			n/a
Basel 3 Standardized approach common equity tier 1 (fully phased-in)	10.8			10.8			10.0
Basel 3 Advanced approaches common equity tier 1 (fully phased-in) (10)	9.8			11.0			9.6

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

⁽²⁾  Return on average tangible common 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. Other companies may define or calculate non-GAAP financial measures differently. See Reconciliations to GAAP Financial Measures on pages 17-19.

⁽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⁾  Regulatory capital ratios are preliminary.

⁽⁶⁾  Common equity tier 1 capital ratio at September 30, 2015 reflects the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

⁽⁷⁾  Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy and was the Advanced approaches in the fourth quarter of 2015. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only.

⁽⁸⁾  Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. See Reconciliations to GAAP Financial Measures on pages 17-19.

⁽⁹⁾  Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.

⁽¹⁰⁾  Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, the Corporation had not received IMM approval.

n/a = not applicable

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 14

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2015
	Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Total revenue, net of interest expense (FTE basis) (1)	$	7,792		$	4,443		$	4,353		$	3,128		$	588		$	(545	)
Provision for credit losses	654			15			233			30			(10		)	(112		)
Noninterest expense	4,343			3,478			1,938			2,754			1,148			210
Net income (loss)	1,799			614			1,378			185			(351		)	(289		)
Return on average allocated capital (2)	25		%	20		%	16		%	2		%	n/m			n/m
Balance Sheet
Average
Total loans and leases	$	211,126		$	135,839		$	320,290		$	68,835		$	27,223		$	128,548
Total deposits	557,319			251,306			307,806			37,454			n/m			22,916
Allocated capital (2)	29,000			12,000			35,000			35,000			24,000			n/m
Period end
Total loans and leases	$	214,405		$	137,847		$	325,677		$	73,208		$	26,521		$	125,343
Total deposits	572,739			260,893			296,162			37,276			n/m			22,898
	Third Quarter 2015
	Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Total revenue, net of interest expense (FTE basis) (1, 3)	$	7,832		$	4,468		$	4,190		$	3,770		$	840		$	(488	)
Provision for credit losses	648			(2		)	179			42			6			(67		)
Noninterest expense	4,435			3,446			2,018			2,683			1,142			84
Net income (loss) (3)	1,759			656			1,277			821			(196		)	4
Return on average allocated capital (2)	24		%	22		%	14		%	9		%	n/m			n/m
Balance Sheet
Average
Total loans and leases	$	206,337		$	133,168		$	310,043		$	66,392		$	29,074		$	137,827
Total deposits	548,897			243,980			296,321			37,050			n/m			22,603
Allocated capital (2)	29,000			12,000			35,000			35,000			24,000			n/m
Period end
Total loans and leases	$	208,981		$	134,630		$	315,224		$	70,159		$	27,982		$	130,713
Total deposits	551,541			246,172			297,644			36,019			n/m			21,769
	Fourth Quarter 2014
	Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Total revenue, net of interest expense (FTE basis) (1)	$	7,759		$	4,603		$	4,314		$	2,387		$	638		$	(746	)
Provision for credit losses	653			14			(31		)	26			(113		)	(330		)
Noninterest expense	4,419			3,442			1,969			2,522			1,360			484
Net income (loss)	1,654			705			1,520			(75		)	(379		)	(375		)
Return on average allocated capital (2)	22		%	23		%	18		%	n/m			n/m			n/m
Balance Sheet
Average
Total loans and leases	$	199,215		$	123,544		$	287,003		$	58,108		$	33,772		$	183,091
Total deposits	517,581			238,835			292,096			40,941			n/m			22,162
Allocated capital (2)	30,000			12,000			33,500			34,000			17,000			n/m
Period end
Total loans and leases	$	202,000		$	125,431		$	288,905		$	59,388		$	33,055		$	172,612
Total deposits	524,415			245,391			279,792			40,746			n/m			19,240

⁽¹⁾  Fully taxable-equivalent (FTE) basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes.

⁽²⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 17-19.)

⁽³⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

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 15

Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2015
	Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Total revenue, net of interest expense (FTE basis) (1, 2)	$	30,618		$	18,001		$	16,919		$	15,067		$	3,430		$	(619	)
Provision for credit losses	2,524			51			685			99			144			(342		)
Noninterest expense	17,485			13,843			7,888			11,310			4,451			2,215
Net income (loss) (1)	6,739			2,609			5,273			2,496			(740		)	(489		)
Return on average allocated capital (3)	23		%	22		%	15		%	7		%	n/m			n/m
Balance Sheet
Average
Total loans and leases	$	204,723		$	131,383		$	305,220		$	63,572		$	29,885		$	147,400
Total deposits	545,839			244,725			294,733			38,470			n/m			21,862
Allocated capital (3)	29,000			12,000			35,000			35,000			24,000			n/m
Period end
Total loans and leases	$	214,405		$	137,847		$	325,677		$	73,208		$	26,521		$	125,343
Total deposits	572,739			260,893			296,162			37,276			n/m			22,898
	Year Ended December 31, 2014
	Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Total revenue, net of interest expense (FTE basis) (2)	$	30,809		$	18,404		$	17,607		$	16,188		$	2,676		$	(568	)
Provision for credit losses	2,680			14			322			110			127			(978		)
Noninterest expense	17,865			13,654			8,170			11,862			20,633			2,933
Net income (loss)	6,436			2,969			5,769			2,705			(13,110		)	64
Return on average allocated capital (3)	21		%	25		%	17		%	8		%	n/m			n/m
Balance Sheet
Average
Total loans and leases	$	197,115		$	119,775		$	286,484		$	62,073		$	35,941		$	202,513
Total deposits	512,820			240,242			288,010			40,813			n/m			30,834
Allocated capital (3)	30,000			12,000			33,500			34,000			17,000			n/m
Period end
Total loans and leases	$	202,000		$	125,431		$	288,905		$	59,388		$	33,055		$	172,612
Total deposits	524,415			245,391			279,792			40,746			n/m			19,240

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

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

⁽³⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 17-19.)

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 16

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Fully taxable-equivalent (FTE) basis data(1)	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income	$	40,160		$	40,821		$	10,032		$	9,742		$	9,865
Total revenue, net of interest expense (2)	83,416			85,116			19,759			20,612			18,955
Net interest yield	2.20		%	2.25		%	2.16		%	2.10		%	2.18		%
Efficiency ratio (2)	68.56			88.25			70.20			66.99			74.90
Other Data							December 31 2015			September 30 2015			December 31 2014
Number of financial centers - U.S.							4,726			4,741			4,855
Number of branded ATMs - U.S.							16,038			16,062			15,834
Ending full-time equivalent employees							213,280			215,193			223,715

⁽¹⁾  FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. See Reconciliations to GAAP Financial Measures on pages 17-19.

⁽²⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

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 17

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent basis, a non-GAAP financial measure. The Corporation believes managing the business with net interest income on a fully taxable-equivalent basis provides a more accurate picture of the interest margin for comparative purposes. Total revenue, net of interest expense, includes net interest income on a fully taxable-equivalent basis and noninterest income. The Corporation views related ratios and analyses (i.e., efficiency ratios and net interest yield) on a fully taxable-equivalent basis. To derive the fully taxable-equivalent basis, net interest income is adjusted to reflect tax-exempt income on an equivalent before-tax basis with a corresponding increase in income tax expense. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

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

In addition, the Corporation periodically reviews capital allocated to its businesses and allocates capital annually during the strategic and capital planning processes. We utilize a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return both represent non-GAAP financial measures. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans. As part of this process, in 2015, the Corporation adjusted the amount of capital being allocated to its business segments, primarily Legacy Assets & Servicing.

See the tables below and on pages 18-19 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the years ended December 31, 2015 and 2014, and the three months ended December 31, 2015, September 30, 2015 and December 31, 2014. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.

	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	39,251		$	39,952		$	9,801		$	9,511		$	9,635
Fully taxable-equivalent adjustment	909			869			231			231			230
Net interest income on a fully taxable-equivalent basis	$	40,160		$	40,821		$	10,032		$	9,742		$	9,865
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 (1)	$	82,507		$	84,247		$	19,528		$	20,381		$	18,725
Fully taxable-equivalent adjustment	909			869			231			231			230
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	83,416		$	85,116		$	19,759		$	20,612		$	18,955
Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense (1)	$	6,266		$	2,022		$	1,511		$	1,446		$	1,260
Fully taxable-equivalent adjustment	909			869			231			231			230
Income tax expense on a fully taxable-equivalent basis	$	7,175		$	2,891		$	1,742		$	1,677		$	1,490
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	230,182		$	223,072		$	234,851		$	231,620		$	224,479
Goodwill	(69,772		)	(69,809		)	(69,761		)	(69,774		)	(69,782		)
Intangible assets (excluding mortgage servicing rights)	(4,201		)	(5,109		)	(3,888		)	(4,099		)	(4,747		)
Related deferred tax liabilities	1,852			2,090			1,753			1,811			2,019
Tangible common shareholders’ equity	$	158,061		$	150,244		$	162,955		$	159,558		$	151,969
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	251,990		$	238,482		$	257,125		$	253,893		$	243,454
Goodwill	(69,772		)	(69,809		)	(69,761		)	(69,774		)	(69,782		)
Intangible assets (excluding mortgage servicing rights)	(4,201		)	(5,109		)	(3,888		)	(4,099		)	(4,747		)
Related deferred tax liabilities	1,852			2,090			1,753			1,811			2,019
Tangible shareholders’ equity	$	179,869		$	165,654		$	185,229		$	181,831		$	170,944

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

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 18

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures (continued)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
Common shareholders’ equity	$	233,932		$	224,162		$	233,932		$	233,632		$	224,162
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,960
Tangible common shareholders’ equity	$	162,119		$	151,733		$	162,119		$	161,660		$	151,733
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
Shareholders’ equity	$	256,205		$	243,471		$	256,205		$	255,905		$	243,471
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,960
Tangible shareholders’ equity	$	184,392		$	171,042		$	184,392		$	183,933		$	171,042
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,144,316		$	2,104,534		$	2,144,316		$	2,153,006		$	2,104,534
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,960
Tangible assets	$	2,072,503		$	2,032,105		$	2,072,503		$	2,081,034		$	2,032,105
Book value per share of common stock
Common shareholders’ equity	$	233,932		$	224,162		$	233,932		$	233,632		$	224,162
Ending common shares issued and outstanding	10,380,265			10,516,542			10,380,265			10,427,305			10,516,542
Book value per share of common stock	$	22.54		$	21.32		$	22.54		$	22.41		$	21.32
Tangible book value per share of common stock
Tangible common shareholders’ equity	$	162,119		$	151,733		$	162,119		$	161,660		$	151,733
Ending common shares issued and outstanding	10,380,265			10,516,542			10,380,265			10,427,305			10,516,542
Tangible book value per share of common stock	$	15.62		$	14.43		$	15.62		$	15.50		$	14.43

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 19

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures (continued)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of return on average allocated capital(1)
Consumer Banking
Reported net income	$	6,739		$	6,436		$	1,799		$	1,759		$	1,654
Adjustment related to intangibles (2)	4			4			1			1			1
Adjusted net income	$	6,743		$	6,440		$	1,800		$	1,760		$	1,655
Average allocated equity (3)	$	59,319		$	60,398		$	59,296		$	59,305		$	60,367
Adjustment related to goodwill and a percentage of intangibles	(30,319		)	(30,398		)	(30,296		)	(30,305		)	(30,367		)
Average allocated capital	$	29,000		$	30,000		$	29,000		$	29,000		$	30,000
Global Wealth & Investment Management
Reported net income	$	2,609		$	2,969		$	614		$	656		$	705
Adjustment related to intangibles (2)	11			13			2			3			3
Adjusted net income	$	2,620		$	2,982		$	616		$	659		$	708
Average allocated equity (3)	$	22,130		$	22,214		$	22,115		$	22,132		$	22,186
Adjustment related to goodwill and a percentage of intangibles	(10,130		)	(10,214		)	(10,115		)	(10,132		)	(10,186		)
Average allocated capital	$	12,000		$	12,000		$	12,000		$	12,000		$	12,000
Global Banking
Reported net income	$	5,273		$	5,769		$	1,378		$	1,277		$	1,520
Adjustment related to intangibles (2)	1			2			1			—			—
Adjusted net income	$	5,274		$	5,771		$	1,379		$	1,277		$	1,520
Average allocated equity (3)	$	58,935		$	57,429		$	58,938		$	58,947		$	57,420
Adjustment related to goodwill and a percentage of intangibles	(23,935		)	(23,929		)	(23,938		)	(23,947		)	(23,920		)
Average allocated capital	$	35,000		$	33,500		$	35,000		$	35,000		$	33,500
Global Markets
Reported net income (loss) (4)	$	2,496		$	2,705		$	185		$	821		$	(75	)
Adjustment related to intangibles (2)	10			9			2			4			2
Adjusted net income (loss)	$	2,506		$	2,714		$	187		$	825		$	(73	)
Average allocated equity (3)	$	40,392		$	39,394		$	40,355		$	40,351		$	39,395
Adjustment related to goodwill and a percentage of intangibles	(5,392		)	(5,394		)	(5,355		)	(5,351		)	(5,395		)
Average allocated capital	$	35,000		$	34,000		$	35,000		$	35,000		$	34,000

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

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

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

⁽⁴⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 9.

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 4Q15 Financial Results January 19, 2016

Simplified and Stronger Company $144 $146 $152 $162 $13.36 $13.79 $14.43 $15.62 $0 $5 $10 $15 $20 $0 $30 $60 $90 $120 $150 $180 4Q12 4Q13 4Q14 4Q15 Tangible common equity Tangible book value per share $372 $376 $439 $504 33 38 39 39 20 30 40 50 $0 $200 $400 $600 4Q12 4Q13 4Q14 4Q15 Global Excess Liquidity Sources Time to Required Funding Global Excess Liquidity Sources ($B) & Time to Required Funding (months) 2 Tangible Common Equity ($B) and Tangible Book Value per Share 3 2 $1,105 $1,119 $1,119 $1,197 $908 $928 $881 $903 $0 $200 $400 $600 $800 $1,000 $1,200 $1,400 4Q12 4Q13 4Q14 4Q15 Total deposits Total loans and leases Deposits and Loans & Leases (EOP, $B) ____________________ 1 2015 results include early adoption of new accounting guidance on the recognition and measurement of financial instruments. See note A on slide 27. 2 See note B on slide 27 for definition of Global Excess Liquidity Sources and see note C on slide 27 for definition of Time to Required Funding. 3 Represent non-GAAP financial measures. Reported common shareholders' equity was $234B, $224B, $219B and $218B for 4Q15, 4Q14, 4Q13 and 4Q12, respectively. Reported book value per share was $22.54, $21.32, $20.71 and $20.24 for 4Q15, 4Q14, 4Q13 and 4Q12, respectively. 4 Represents a non-GAAP financial measure. Reported Legacy Assets & Servicing (LAS) noninterest expense was $4.5B, $20.6B, $12.4B and $13.2B for 2015, 2014, 2013 and 2012, respectively. 5 Includes the $1.1B provision for the Independent Foreclosure Review (IFR) acceleration agreement in 4Q12. $14.9 $7.9 $4.4 $4.3 1.67% 0.87% 0.49% 0.50% 0% 1% 2% 3% 4% $0 $5 $10 $15 $20 2012 2013 2014 2015 Net charge-offs Net charge-off ratio Net Charge-offs ($B) $4.2 $11.4 $4.8 $15.9 $0 $5 $10 $15 $20 2012 2013 2014 2015 Net Income ($B) 1 56.3 54.5 53.3 52.4 10.5 8.6 5.4 3.6 5.3 6.1 16.4 1.2 $72.1 $69.2 $75.1 $57.2 $0 $20 $40 $60 $80 2012 2013 2014 2015 All other LAS (excl. litigation & IFR) Litigation Noninterest Expense ($B) 4 5

Business Activity Highlights: Consumer and Wealth Management 3 $21.5 $11.6 $11.6 $13.5 $1.0 $1.9 $3.4 $3.5 $0 $5 $10 $15 $20 $25 4Q12 4Q13 4Q14 4Q15 Residential mortgage loans Home equity $455 $498 $518 $557 $250 $240 $239 $251 $704 $738 $756 $809 $0 $300 $600 $900 4Q12 4Q13 4Q14 4Q15 Consumer Banking GWIM $2,152 $2,366 $2,498 $2,457 20.4 19.2 19.8 20.6 10 15 20 25 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 4Q12 4Q13 4Q14 4Q15 Client balances Client-facing professionals 3 Avg. Consumer Deposits ($B) Total Mortgage and Home Equity Production ($B) 1 GWIM Client Balances ($B) and Client- Facing Professionals (000’s) $76 $96 $114 $123 $0 $20 $40 $60 $80 $100 $120 $140 4Q12 4Q13 4Q14 4Q15 Merrill Edge Brokerage Assets ($B) 12.0 14.4 16.5 18.7 4% 9% 12% 15% 0% 5% 10% 15% 20% 0 5 10 15 20 4Q12 4Q13 4Q14 4Q15 Mobile banking active users Mobile % of total deposit transactions Mobile Banking Active Users (MM) 2 5,478 5,151 4,855 4,726 3,000 4,000 5,000 6,000 4Q12 4Q13 4Q14 4Q15 ____________________ Note: Amounts may not total due to rounding. 1 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and Global Wealth & Investment Management (GWIM). Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. 2 Beginning in 1Q15, includes approximately 150,000 Merrill Edge and MyMerrill users. 3 Includes financial advisors in Consumer Banking of 2,191, 1,950, 1,545 and 1,497 at 4Q15, 4Q14, 4Q13 and 4Q12, respectively. Financial Centers

Business Activity Highlights: Global Banking and Global Markets 4 ____________________ Note: Amounts may not total due to rounding. 1 See note D on slide 27 for definition of VaR. 2 Fully taxable-equivalent (FTE) basis. 3 Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities. 4 Advisory includes fees on debt and equity advisory and mergers and acquisitions. 5 Represents a non-GAAP financial measure. Reported fixed income and currencies (FICC) sales & trading revenue was $7.9B, $8.8B, $8.3B and $4.7B for 2015, 2014, 2013 and 2012, respectively. Reported equities sales & trading revenue was $4.3B, $4.2B, $4.2B and $2.1B for 2015, 2014, 2013 and 2012, respectively. See note E on slide 27. $11.0 $9.4 $9.1 $8.7 $3.3 $4.2 $4.1 $4.4 $0 $2 $4 $6 $8 $10 $12 $14 2012 2013 2014 2015 FICC Equities 195 203 221 242 74 84 71 66 $269 $287 $292 $308 $0 $75 $150 $225 $300 $375 4Q12 4Q13 4Q14 4Q15 Noninterest-bearing Interest-bearing $493 $439 $456 $416 $100 $73 $51 $44 $0 $25 $50 $75 $100 $125 $150 $0 $100 $200 $300 $400 $500 $600 4Q12 4Q13 4Q14 4Q15 Avg. trading-related assets Avg. VaR $248 $285 $287 $320 $0 $75 $150 $225 $300 $375 4Q12 4Q13 4Q14 4Q15 Avg. Global Banking Loans ($B) Avg. Global Banking Deposits ($B) Avg. Trading-related Assets ($B) and VaR ($MM) 1 3.4 3.8 3.6 3.0 1.0 1.5 1.5 1.2 1.1 1.1 1.2 1.5 (0.2) (0.3) (0.2) (0.2) $5.3 $6.1 $6.1 $5.6 2012 2013 2014 2015 Debt Equity Advisory Self-led deals4 6.6 6.9 6.8 6.6 5.8 6.2 6.4 6.1 3.2 3.3 3.3 3.2 1.0 1.0 1.1 1.0 $16.6 $17.4 $17.6 $16.9 $0 $4 $8 $12 $16 $20 2012 2013 2014 2015 Commercial Bank Corporate Bank Investment Bank Business Banking Global Banking Revenue ($B) 2, 3 Total Corporation Investment Banking Fees ($B) 3 Sales & Trading Revenue (excl. net DVA) ($B) 5

4Q15 Results 1 5 ____________________ Note: Amounts may not total due to rounding. 1 2015 results include early adoption of new accounting guidance on the recognition and measurement of financial instruments. See note A on slide 27. 2 FTE basis. 3 Represents a non-GAAP financial measure. Reported total revenue, net of interest expense was $19.5B and $18.7B for 4Q15 and 4Q14. 4 Represents a non-GAAP financial measure. $ in billions, except per share data 4Q15 4Q14 Inc / (Dec) Summary Income Statement Total revenue, net of interest expense 2, 3 $19.8 $19.0 $0.8 Noninterest expense 13.9 14.2 (0.3) Provision for credit losses 0.8 0.2 0.6 Net income 3.3 3.1 0.3 Diluted earnings per common share $0.28 $0.25 $0.03 Average diluted common shares (in billions) 11.15 11.27 (0.12) Return Metrics Return on average assets 0.61 % 0.57 % Return on average common shareholders' equity 5.1 4.8 Return on average tangible common shareholders' equity 4 7.3 7.1 Efficiency ratio 2, 4 70.2 74.9 • Net income of $3.3B in 4Q15, or $0.28 per diluted common share, reflected a 4% increase in revenue and a 2% reduction in expenses from 4Q14, partially offset by higher credit costs • 4Q15 results included the following previously announced items: – ($0.03) per share from a reduction to NII for certain trust preferred securities – ($0.03) per share from the negative impact of U.K. tax law changes • 4Q15 results also included a $0.01 per share net benefit from positive market-related NII adjustments and certain income tax benefits, partially offset by negative net debit valuation adjustments

Balance Sheet, Liquidity and Capital Highlights 6 $ in billions, except per share data Balance Sheet (end of period balances) Total assets $2,144.3 $2,153.0 $2,104.5 Total loans and leases 903.0 887.7 881.4 Total deposits 1,197.3 1,162.0 1,118.9 Funding & Liquidity Long-term debt $236.8 $237.3 $243.1 Global Excess Liquidity Sources 1 504 499 439 Time to Required Funding (in months) 1 39 42 39 Equity Tangible common shareholders' equity 2 $162.1 $161.7 $151.7 Tangible common equity ratio 2 7.8 % 7.8 % 7.5 % Common shareholders' equity $233.9 $233.6 $224.2 Common equity ratio 10.9 % 10.9 % 10.7 % Per Share Data Tangible book value per common share 2 $15.62 $15.50 $14.43 Book value per common share 22.54 22.41 21.32 Common shares outstanding (in billions) 10.38 10.43 10.52 4Q15 3Q15 4Q14 ____________________ n/a = not applicable 1 See note B on slide 27 for definition of Global Excess Liquidity Sources and see note C on slide 27 for definition of Time to Required Funding. 2 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 3 Regulatory capital ratios are preliminary. Common equity tier 1 (CET1) capital, Tier 1 capital, risk-weighted assets (RWA), CET1 ratio and bank holding company supplementary leverage ratio (SLR) as shown on a fully phased-in basis are non-GAAP financial measures. For important presentation information, see slide 29. For a reconciliation of CET1 and SLR transition to fully phased-in, see slide 26. 4 Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy and was the Advanced approaches in the fourth quarter of 2015. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. 5 Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, BAC had not received IMM approval. 6 With the approval to exit parallel, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk- weighted assets in the fourth quarter of 2015. Pro-forma information for 3Q15 includes the impact of these modifications as if effective at September 30, 2015. 7 See note F on slide 27. $ in billions Basel 3 Transition (as reported) 3, 4 Common equity tier 1 capital $163.0 $161.6 $155.4 Risk-weighted assets 1,602 1,392 1,262 CET1 ratio 10.2 % 11.6 % 12.3 % Basel 3 Fully Phased-in 3, 5, 6 Common equity tier 1 capital $154.1 $153.1 $141.2 Standardized approach Risk-weighted assets 1,426 1,415 1,415 CET1 ratio 10.8 % 10.8 % 10.0 % Advanced approaches Risk-weighted assets $1,574 $1,398 $1,465 CET1 ratio 9.8 % 11.0 % 9.6 % Pro-forma risk-weighted assets n/a $1,570 n/a Pro-forma CET1 ratio n/a 9.7 % n/a Supplementary leverage 7 Tier 1 capital $175.8 $174.6 $160.5 Bank holding company SLR 6.4 % 6.4 % 5.9 % Bank SLR 6.9 7.0 7.0 4Q15 3Q15 4Q14

Loans & Leases and Deposits (EOP, $B) 7 ____________________ Note: Amounts may not total due to rounding. 1 Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were retained in All Other. 2 Includes Consumer Banking, GWIM, Global Banking and Global Markets (GM). Total Loans & Leases LAS and All Other Loans & Leases $881 $878 $886 $888 $903 $0 $250 $500 $750 $1,000 4Q14 1Q15 2Q15 3Q15 4Q15 173 160 147 131 125 33 32 30 28 27 $206 $192 $177 $159 $152 $0 $50 $100 $150 $200 $250 4Q14 1Q15 2Q15 3Q15 4Q15 All Other Legacy Assets & Servicing (LAS) 390 401 416 429 444 286 286 294 300 308 $676 $686 $710 $729 $751 $0 $200 $400 $600 $800 4Q14 1Q15 2Q15 3Q15 4Q15 Commercial Consumer 524 549 547 552 573 245 244 238 246 261 280 290 292 298 296 70 70 73 66 67 $1,119 $1,153 $1,150 $1,162 $1,197 $0 $300 $600 $900 $1,200 4Q14 1Q15 2Q15 3Q15 4Q15 Consumer Banking GWIM Global Banking Other (GM, LAS, All Other) 1 Total Deposits Loans & Leases in Primary Lending Segments 2

$0.9 $1.2 $1.1 $0.9 $1.1 $1.0 $1.0 $0.9 $0.9 $1.0 0.47% 0.47% 0.43% 0.42% 0.45% 0.40% 0.56% 0.49% 0.42% 0.51% 0.0% 0.5% 1.0% $0.0 $0.5 $1.0 $1.5 4Q14 1Q15 2Q15 3Q15 4Q15 Reported NCOs and ratio Adjusted NCOs and ratio ____________________ 1 Represents a non-GAAP financial measure. Adjusted net charge-offs exclude DoJ settlement impacts of $28MM, $53MM, $166MM, $230MM and $151MM for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively, and recoveries from NPL sales and other recoveries of $8MM, $58MM, $27MM, $40MM and $314MM for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively, and collateral valuation adjustments of $119MM in 4Q15. Asset Quality Trends 8 Net Charge-offs (NCOs) and Adjusted Net Charge-offs ($B) Provision for Credit Losses ($B) $0.2 $0.8 $0.8 $0.8 $0.8 $0.0 $0.5 $1.0 4Q14 1Q15 2Q15 3Q15 4Q15 1 • Total net charge-offs of $1.1B increased $0.2B from 3Q15 – Adjusted for certain items reserved for in prior quarters and recoveries on NPL sales 1, total net charge-offs of $1.0B increased $68MM, driven by an increase in commercial charge-offs related to the energy sector • Provision of $0.8B was relatively stable versus 3Q15, reflecting higher net charge-offs in commercial, mostly offset by reserve releases in consumer

Asset Quality – Consumer Portfolio 9 Consumer Net Charge-offs ($MM) $794 $1,117 $1,020 $821 $958 0.64% 0.95% 0.87% 0.71% 0.84% 0.00% 0.50% 1.00% 1.50% $0 $500 $1,000 $1,500 4Q14 1Q15 2Q15 3Q15 4Q15 Credit Card Other Net charge-off ratio Consumer Asset Quality Metrics ($MM) 4Q15 3Q15 4Q14 Provis ion $494 $542 $131 Nonperforming loans and leases 8,165 8,697 10,819 Al lowance for loans and leases 7,385 7,952 9,982 % of loans and leases 3 1.63% 1.75% 2.05% # times annual ized NCOs 1.94x 2.44x 3.17x ____________________ 1 Adjustments include DoJ settlement impacts of $28MM and $53MM for 4Q15 and 3Q15, recoveries from NPL sales and other recoveries of $8MM and $58MM for 4Q15 and 3Q15, and collateral valuation adjustments of $119MM in 4Q15. 2 Excludes FHA-insured loans and other loans individually insured under long-term standby agreements. 3 Excludes loans measured at fair value. Consumer 30+ Days Performing Past Due ($B) 2 $4.8 $4.4 $4.2 $4.3 $4.3 $0 $2 $4 $6 4Q14 1Q15 2Q15 3Q15 4Q15 • Consumer net charge-offs increased $137MM compared to 3Q15, driven by certain items reserved for in prior quarters, primarily collateral valuation adjustments on consumer real estate ($119MM) – Adjusted for certain items reserved for in prior quarters and recoveries on NPL sales 1, consumer net charge-offs were relatively flat compared to 3Q15 (adjusted net charge-off ratio was 0.72% for 4Q15, unchanged from 3Q15) • Consumer provision decreased $48MM compared to 3Q15 due to continued improvement in portfolio trends • Consumer nonperforming loans (NPLs) declined $532MM compared to 3Q15, driven by consumer real estate NPL sales • $7.4B of allowance for consumer loans and leases provides 1.63% coverage of loans – Allowance covers 1.94x current period annualized net charge-offs compared to 2.44x in 3Q15; adjusted for certain items reserved for in prior quarters and recoveries on NPL sales 1, allowance covers 2.27x current period annualized net charge-offs

$4.9 23% $3.4 16% $5.6 26% $5.8 27% $1.6 8% Exploration & production (E&P) Oil field services (OFS) Refining & marketing Vertically integrated All other energy Asset Quality – Commercial Portfolio Commercial Net Charge-offs ($MM) $85 $77 $48 $111 $186 0.09% 0.08% 0.05% 0.11% 0.17% 0.00% 0.10% 0.20% 0.30% $0 $100 $200 4Q14 1Q15 2Q15 3Q15 4Q15 C&I Small Business and Other Net charge-off ratio Commercial Asset Quality Metrics ($MM) 4Q15 3Q15 4Q14 Provis ion $316 $264 $88 Nonperforming loans and leases 1,212 1,102 1,113 Reservable cri ticized uti l i zed exposure 16,508 13,571 11,570 Al lowance for loans and leases 4,849 4,705 4,437 % of loans and leases 1 1.10% 1.10% 1.15% # times annual ized NCOs 6.60x 10.62x 13.08x • Commercial net charge-offs increased $75MM compared to 3Q15, driven by losses in Energy • Allowance increased $144MM from 3Q15, driven by energy- related exposures and higher loan growth across the portfolio • Utilized Energy exposure of $21.3B ($1B traded products) comprises approximately 2% of total Corporation loans and leases – Utilized exposure declined $0.5B from 3Q15 and $2.6B, or 11%, from 4Q14 – The higher risk sub-sectors of Oil Field Services and Exploration & Production comprise 39% of utilized energy exposure • Reservable criticized exposure increased $2.9B compared to 3Q15, driven by a $2.6B increase in Energy – Energy reservable criticized exposure was $4.7B at 4Q15; increased from 3Q15 due primarily to a downgrade of one large single-name credit supported by a sovereign • NPLs increased $110MM from 3Q15, driven mostly by increases in Energy ____________________ 1 Excludes loans measured at fair value. 2 Other includes primarily storage and transportation sub-sector as well as consumable fuels. 4Q15 Utilized Energy Exposure ($B) - $21.3B 10 2 Higher Risk Sub-sectors

Net Interest Income 11 • Net interest income (NII) on an FTE basis of $10.0B – Positive market-related NII adjustments of $0.1B in 4Q15 versus negative $0.6B adjustments in 3Q15 – 4Q15 includes previously announced $0.6B reduction for certain trust preferred securities • Excluding market-related and other adjustments, NII of $10.5B increased $0.2B from 3Q15, driven by commercial loan growth and higher investment securities balances – Adjusted net interest yield improved 3bps to 2.26% • Expect annual $0.2B negative NII impact in 2016 from reduction of dividends paid on Federal Reserve stock • 1Q16 will be negatively impacted by one less interest accrual day than 4Q15 • We remain well positioned for NII to benefit as rates move higher – +100 bps parallel shift in interest rate yield curve is estimated to benefit NII by $4.3B over the next 12 months 3 – Asset sensitivity has decreased since prior quarter, driven primarily by increases in long-end rates and higher securities balances ____________________ 1 Represents a non-GAAP financial measure. Reported NII was $9.8B, $9.5B, $10.5B, $9.5B and $9.6B for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. 2 Excludes market-related NII adjustments of premium amortization and hedge ineffectiveness of $0.1B, ($0.6B), $0.7B, ($0.5B) and ($0.6B) for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively, as well as previously announced $0.6B reduction for certain subordinated notes related to trust preferred securities recorded in 4Q15. See note G on slide 27 for definition of market-related NII adjustments. 3 NII asset sensitivity excludes the impact of trading-related activities. NII FTE Basis ($B) 1 NII Excluding Market-related and Other Adjustments ($B) 1, 2 $9.9 $9.7 $10.7 $9.7 $10.0 2.18% 2.17% 2.37% 2.10% 2.16% 0% 1% 2% 3% 4% $0 $3 $6 $9 $12 4Q14 1Q15 2Q15 3Q15 4Q15 Net interest income Net interest yield $10.4 $10.2 $10.0 $10.3 $10.5 2.31% 2.28% 2.22% 2.23% 2.26% 0% 1% 2% 3% 4% $0 $3 $6 $9 $12 4Q14 1Q15 2Q15 3Q15 4Q15 Net interest income Net interest yield

12.7 12.7 12.6 1.1 0.9 0.8 0.4 0.2 0.4 $14.2 $13.8 $13.9 $0 $5 $10 $15 $20 4Q14 3Q15 4Q15 All other LAS (excl. litigation) Litigation Expense Highlights ____________________ Note: Amounts may not total due to rounding. 1 Represents a non-GAAP financial measure. Reported LAS noninterest expense was $1.1B, $1.1B and $1.4B for 4Q15, 3Q15 and 4Q14, respectively. 2 Represents a non-GAAP financial measure. • Total noninterest expense of $13.9B in 4Q15 • Noninterest expense, excluding litigation 2, of $13.4B declined $0.4B, or 3%, from 4Q14, driven by progress made on LAS cost initiatives, while benefits from optimization efforts across the franchise were largely offset by investments in the business • LAS expense, excluding litigation, of $0.8B in 4Q15 • FTE headcount was down 5% from 4Q14, as continued progress in LAS and other reductions in support staff and infrastructure more than offset increases in client-facing professionals • Compared to 4Q15, 1Q16 expenses expected to be impacted by the following items: – Annual retirement-eligible incentive compensation costs, which are expected to be approximately $1.0B – Seasonally elevated payroll tax costs, which are expected to be higher by approximately $0.3B – Revenue-related expenses associated with seasonally higher sales and trading results Noninterest Expense ($B) Full-time Equivalent Employees (FTEs, 000's) 12 1 208 204 203 16 11 10 224 215 213 0 50 100 150 200 250 4Q14 3Q15 4Q15 FTEs (excluding LAS) LAS FTEs

Consumer Banking 13 ____________________ 1 FTE basis. 2 Cost of deposits calculated as annualized noninterest expense within the Deposits subsegment as a percentage of total average deposits within Consumer Banking. 3 Beginning in 1Q15, includes approximately 150,000 Merrill Edge and MyMerrill users. 4 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 5 Includes average U.S. consumer credit card balances in GWIM of $3.0B, $3.0B and $3.2B in 4Q15, 3Q15 and 4Q14, respectively. 6 Represents a non-GAAP financial measure. The risk-adjusted margin in 4Q15, 3Q15 and 4Q14 is shown excluding divestiture gains; including this impact, risk-adjusted margin would have been 9.81%, 9.54% and 9.96%, respectively. 7 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. • [ Bullets to come ] • Net income of $1.8B, up 9% from 4Q14; ROAAC of 25% Revenue f $7.8B increased modestly from 4Q14, driven by higher NII on increased deposits and loans, partially offset by lower mortgage banking income • Noninterest expense decreased 2% from 4Q14, driven by lower operating expenses; efficiency ratio of 56% in 4Q15 – Financial centers down 3% from 4Q14 to 4,726 – Total FTEs down 3% from 4Q14 to 68K, while sales specialists grew 12% to 7,637 • Consumer client activity highlights: – Average deposits grew $40B, or 8%, from 4Q14  Cost of deposits declined to 1.77% – Total mortgage and home equity production of $17.0B, up $2.0B from 4Q14 7  First mortgage pipeline down 14% from 3Q15 – Issued 1.3MM new U.S. consumer credit cards  Total U.S. credit card spend up 5% from 4Q14 – Client brokerage assets of $123B, up $9B from 4Q14, driven by account flows, partially offset by lower market valuations – Mobile banking active users of 18.7MM; 15% of deposit transactions completed through mobile devices $ in millions Net interest income 1 $5,059 $55 $92 Noninterest income 2,733 (95) (59) Total revenue, net of interest expense 1 7,792 (40) 33 Provis ion for credit losses 654 6 1 Noninterest expense 4,343 (92) (76) Income tax expense 1 996 6 (37) Net income $1,799 $40 $145 Key Indicators ($ in billions) Average depos its $557.3 $548.9 $517.6 Rate paid on depos its 0.04 % 0.05 % 0.05 % Cost of depos its 2 1.77 1.80 1.92 Average loans and leases $211.1 $206.3 $199.2 Mobi le banking active users (MM) 3 18.7 18.4 16.5 Number of financia l centers 4,726 4,741 4,855 Return on average a l located capita l (ROAAC) 4 25 % 24 % 22 % Al located capita l 4 $29.0 $29.0 $30.0 Efficiency ratio 1 56 % 57 % 57 % Total U.S. consumer credit card 5 ($ in billions) Average outstandings $88.6 $88.2 $89.4 Risk-adjusted margin 6 9.43 % 9.32 % 9.69 % Net charge-off ratio 2.52 2.46 2.71 New card accounts (MM) 1.3 1.3 1.2 Combined credit / debit purchase volumes $129.5 $125.8 $125.1 4Q15 3Q15 4Q14 Inc/(Dec) 4Q15 3Q15 4Q14 4Q15 3Q15 4Q14

70.5 69.3 68.8 69.2 68.4 6.8 6.9 7.0 7.2 7.6 0 2 4 6 8 10 0 20 40 60 80 4Q14 1Q15 2Q15 3Q15 4Q15 FTEs Sales specialists Consumer Banking Trends 14 • #1 Retail Deposit Market Share 1 • #3 in U.S. Credit Card Balances 2 • #1 Home Equity Lender (Inside Mortgage Finance ‘15) • #3 in J.D. Power 2015 U.S. Primary Mortgage Origination Satisfaction Study • #1 in Online Banking Functionality (Keynote ’15) • #1 in Mobile Banking (Keynote ’15) • #2 Small Business Lender (FDIC ‘15) • #1 in Prime Auto Credit mix among peers 3 1.3 1.2 1.2 1.2 1.3 1.0 1.0 1.0 1.1 1.0 0.2 0.3 0.3 0.2 0.1 0.2 0.2 0.1 0.3 0.2 $2.8 $2.6 $2.6 $2.8 $2.7 $0 $1 $2 $3 4Q14 1Q15 2Q15 3Q15 4Q15 Card income Service charges Mortgage banking income All other income 11.6 13.7 16.0 13.7 13.5 3.4 3.2 3.2 3.1 3.5 $15.0 $16.9 $19.2 $16.9 $17.0 $0 $7 $14 $21 4Q14 1Q15 2Q15 3Q15 4Q15 Residential mortgage loans Home equity 524 549 547 552 573 202 200 204 209 214 114 118 122 117 123 $840 $868 $874 $878 $910 $0 $250 $500 $750 $1,000 4Q14 1Q15 2Q15 3Q15 4Q15 Deposits Loans and leases Client brokerage assets ____________________ Note: Amounts may not total due to rounding. 1 Source: SNL branch data. U.S. retail deposit market share based on June 2015 FDIC deposit data, adjusted to remove commercial balances. 2 Source: Competitor 3Q15 earnings releases. 3 Largest percentage of 740+ Scorex customers among key competitors as of October 2015. Source: Total Units Experian Autocount Risk Loan Analysis Scorex + (Loans, New & Used, Franchised Dealers). 4 Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were retained in All Other. 5 Total mortgage production includes first mortgage and home equity originations in Consumer Banking and GWIM. Amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit. 86 86 84 85 86 38 38 39 41 42 46 45 45 44 43 9 11 14 17 21 20 20 19 19 19 $199 $200 $202 $206 $211 $0 $50 $100 $150 $200 $250 4Q14 1Q15 2Q15 3Q15 4Q15 U.S. consumer credit card Auto and specialty lending Home equity Residential mortgage Other Leading Consumer Franchise Total Mortgage Production ($B) 5 Average Loans and Leases ($B) Consumer Client Balances (EOP, $B) Full-Time Equivalent Employees (000’s) 4 Total Noninterest Income ($B)

Global Wealth & Investment Management 15 ____________________ 1 FTE basis. 2 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 3 Includes financial advisors in Consumer Banking of 2,191 and 1,950 in 4Q15 and 4Q14. • Net income of $0.6B, generating a pre-tax margin of 21% and ROAAC of 20% • Revenue of $4.4B, down 3% from 4Q14 – NII relatively flat as the benefits from loan and deposit growth were mostly offset by the impact of the firm’s allocation of ALM activities – Noninterest income down due to lower transactional activity and lower market valuations • Noninterest expense increased from 4Q14, due primarily to higher amortization of previously issued stock awards and investments in client-facing professionals, partially offset by lower revenue-related incentives • Wealth advisors grew 5% from 4Q14 to 18,167 3 • Client balances of nearly $2.5T, up $60B from 3Q15, driven by market valuations and flows – Long-term AUM flows of $7B, positive for the 26th consecutive quarter • Average loans of $136B, up $3B from 3Q15 and $12B, or 10%, versus 4Q14; 23rd consecutive quarter of loan balance growth • Average deposits of $251B, up $7B from 3Q15 and $12B, or 5% versus 4Q14 $ in millions Net interest income 1 $1,412 $35 $6 Noninterest income 3,031 (60) (166) Total revenue, net of interest expense 1 4,443 (25) (160) Provis ion for credit losses 15 17 1 Noninterest expense 3,478 32 36 Income tax expense 1 336 (32) (106) Net income $614 ($42) ($91) Key Indicators ($ in billions) Average depos its $251.3 $244.0 $238.8 Average loans and leases 135.8 133.2 123.5 Net charge-off ratio 0.06 % 0.05 % 0.12 % Long-term AUM flows $6.7 $4.4 $9.4 Liquidi ty AUM flows 4.8 (3.2) (0.3) Pre-tax margin 21 % 23 % 25 % Return on average a l located capita l 2 20 22 23 Al located capita l 2 $12.0 $12.0 $12.0 Inc/(Dec) 4Q15 3Q15 4Q14 4Q15 3Q15 4Q14

Global Wealth & Investment Management Trends 16 Market Share Positioning Average Loans and Leases ($B) Total Client-Facing Professionals (000’s) 3 • #1 U.S. wealth management market position across client assets, deposits and loans 1 • #1 in personal trust assets under management 2 • #1 in Barron’s U.S. high net worth client assets (2015) • #1 in Barron’s Top 1,200 ranked Financial Advisors and Top 100 Women Advisors (2015) 1,221 1,218 1,218 1,136 1,154 903 917 930 877 901 245 244 238 246 261 129 131 136 138 141 $2,498 $2,510 $2,522 $2,396 $2,457 $0 $500 $1,000 $1,500 $2,000 $2,500 $3,000 4Q14 1Q15 2Q15 3Q15 4Q15 Other Assets under management Deposits Loans and leases Client Balances (EOP, $B) 5 57 58 59 60 61 39 40 42 43 43 25 25 27 28 28 3 3 3 3 3 $124 $126 $130 $133 $136 $0 $50 $100 $150 4Q14 1Q15 2Q15 3Q15 4Q15 Consumer real estate Securities-based lending Structured lending Credit card / Other ____________________ Note: Amounts may not total due to rounding. 1 Source: Competitor 3Q15 earnings releases. 2 Source: Industry 3Q15 call reports. 3 Includes financial advisors in Consumer Banking of 2,191, 2,042, 2,049, 1,992 and 1,950 at 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. 4 FTE basis. 5 Other includes brokerage assets and assets in custody. Loans and leases include margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet. 2.1 2.1 2.1 2.1 2.1 1.1 1.1 1.1 1.0 1.0 1.4 1.4 1.4 1.4 1.4 $4.6 $4.5 $4.6 $4.5 $4.4 $0 $1 $2 $3 $4 $5 4Q14 1Q15 2Q15 3Q15 4Q15 Asset management fees Brokerage / Other Net interest income Revenue ($B) 4 19.8 20.0 20.3 20.5 20.6 0 5 10 15 20 25 4Q14 1Q15 2Q15 3Q15 4Q15 Financial advisors Other wealth advisors Other 4

Global Banking 17 ____________________ 1 FTE basis. 2 Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities. 3 Represents a non-GAAP financial measure. For important presentation information, see slide 29. 4 Ranking per Dealogic for the fourth quarter as of January 5, 2016. • [ Bullets to come ] • Net income of $1.4B, generating a ROAAC of 16% Revenue increased 1% from 4Q14 – NII improved driven by increased loan and deposit balances, partially offset by the impact of the firm’s allocation of ALM activities including liquidity costs, as well as loan spread compression – Noninterest income increased due to improvements in leasing and treasury services, as well as a small gain on the sale of a foreclosed property, partially offset by lower investment banking fees • Total Corporation investment banking fees of $1.3B (excl. self-led) declined 17% from 4Q14, driven by lower leveraged finance and equity issuance, partially offset by higher advisory fees – Ranked #3 globally in IB fees in 4Q15 4 – 2nd highest quarter in advisory fees since merger • Provision increased from 4Q14, driven by energy-related charge- offs, as well as reserve builds for loan growth and energy exposure • Noninterest expense decreased 2% versus 4Q14, reflecting lower litigation and incentive costs, partially offset by investments in client-facing professionals • Average loans and leases increased 3% from 3Q15 and 12% from 4Q14, driven by growth in C&I, commercial real estate and leasing • Average deposits grew 5% from 4Q14 $ in millions Net interest income 1 $2,435 $89 $20 Noninterest income 2 1,918 74 19 Total revenue, net of interest expense 1, 2 4,353 163 39 Provis ion for credit losses 233 54 264 Noninterest expense 1,938 (80) (31) Income tax expense 1 804 88 (52) Net income $1,378 $101 ($142) Key Indicators ($ in billions) Average depos its $307.8 $296.3 $292.1 Average loans and leases 320.3 310.0 287.0 Net charge-off ratio 0.17 % 0.07 % 0.00 % Total corporation IB fees (excl . sel f-led) 2 $1.27 $1.29 $1.54 Global Banking IB fees 2 0.73 0.75 0.83 Bus iness Lending revenue 2.03 1.89 1.88 Global Transaction S rvices revenue 1.59 1.57 1.63 Return on average a l located capita l 3 16 % 14 % 18 % Al located capita l 3 $35.0 $35.0 $33.5 Efficiency ratio 1 44 % 48 % 46 % Inc/(Dec) 3Q15 4Q144Q15 4Q15 3Q15 4Q14

Global Banking Trends 18 ____________________ Note: Amounts may not total due to rounding. 1 Ranking per Dealogic for the fourth quarter as of January 5, 2016. 2 Global Banking shares with Global Markets in certain deal economics from investment banking and loan origination activities. 3 FTE basis. 4 Advisory includes fees on debt and equity advisory and mergers and acquisitions. 76% 77% 77% 78% 78% 24% 23% 23% 22% 22% $292 $286 $288 $296 $308 $0 $50 $100 $150 $200 $250 $300 $350 4Q14 1Q15 2Q15 3Q15 4Q15 Noninterest-bearing Interest-bearing 883 781 887 748 617 348 345 417 188 286 340 428 276 391 408 (30) (67) (54) (40) (39) $1,541 $1,487 $1,526 $1,287 $1,272 4Q14 1Q15 2Q15 3Q15 4Q15 Debt Equity Advisory Self-led deals Total Corporation IB Fees ($MM) 2 • #3 in Global IB Fees 1 – Top 3 ranking by volumes in high-yield corporate debt, leveraged loans, mortgage-backed securities, convertible debt, syndicated loans, debt and equity capital markets • Best Global Transaction Services and Global Loan House (Euromoney ’15) • Most Innovative Investment Bank from North America (The Banker ’15) • Best Bank for Cash Management in North America for the 6th consecutive year (Global Finance Magazine ‘16) • Relationships with 81% of the Global Fortune 500; 96% of the U.S. Fortune 1,000 (2015) 2.4 2.3 2.2 2.3 2.4 0.8 0.9 0.8 0.8 0.7 0.7 0.7 0.7 0.7 0.7 0.4 0.4 0.4 0.3 0.5 $4.3 $4.3 $4.1 $4.2 $4.4 $0 $1 $2 $3 $4 $5 4Q14 1Q15 2Q15 3Q15 4Q15 Net interest income IB fees Service charges All other income Revenue ($B) 2, 3 4 Avg. Deposits ($B) Business Leadership Avg. Loans and Leases ($B) 141 142 147 150 157 130 131 137 143 146 16 16 17 17 17 $287 $290 $301 $310 $320 $0 $50 $100 $150 $200 $250 $300 $350 4Q14 1Q15 2Q15 3Q15 4Q15 Commercial Corporate Business Banking 3

Global Markets 1 19 • [ Bullets to come ] ____________________ n/m = not meaningful 1 2015 results include early adoption of new accounting guidance on the recognition and measurement of financial instruments. See note A on slide 27. 2 FTE basis. 3 In addition to sales and trading revenue, Global Markets shares with Global Banking in certain deal economics from investment banking and loan origination activities. 4 Represents a non-GAAP financial measure; see note E on slide 27. 5 Represents a non-GAAP financial measure. For important presentation information, see slide 29. • Net income of $0.2B in 4Q15; excluding net DVA, net income of $0.3B • Revenue, excluding net DVA, of $3.3B increased from 4Q14, driven primarily by improved sales and trading results – Lower IB fees versus 4Q14 were mostly offset by a gain on an equity investment in 4Q15 • Excluding net DVA, sales and trading revenue of $2.6B, up 11% from 4Q14 – FICC revenue increased $0.3B, or 20%, from 4Q14, reflecting improvement across most products, notably in rates and credit-related products – Equities revenue decreased 3% from 4Q14, reflecting lower client activity • Noninterest expense increased $0.2B versus 4Q14, due primarily to higher revenue-related expenses $ in millions Net interest income 2 $1,166 $31 $130 Noninterest income 3 1,962 (673) 611 Total revenue, net of interest expense 2, 3 3,128 (642) 741 Net DVA (198) (210) 428 Total revenue (excl. net DVA) 2, 3, 4 3,326 (432) 313 Provis ion for credit losses 30 (12) 4 Noninterest expense 2,754 71 232 Income tax expense 2 159 (65) 245 Net income $185 ($636) $260 Net income (excl. net DVA) 4 $308 ($506) ($8) Key Indicators ($ in billions) Average trading-related assets $416.1 $431.5 $455.5 Average loans and leases 68.8 66.4 58.1 Sales and trading revenue 2.4 3.2 1.7 Sales and trading revenue (excl . net DVA) 4 2.6 3.2 2.4 Global Markets IB fees 3 0.5 0.5 0.7 Return on average a l located capita l 5 2 % 9 % n/m Al located capita l 5 $35.0 $35.0 $34.0 Efficiency ratio 2 88 % 71 % 106 % Inc/(Dec) 4Q15 3Q15 4Q14 4Q15 3Q15 4Q14

Global Markets Trends and Revenue Mix 20 1.5 2.8 2.2 2.0 1.8 0.9 1.1 1.2 1.2 0.9 $2.4 $3.9 $3.3 $3.2 $2.6 $0 $1 $2 $3 $4 $5 4Q14 1Q15 2Q15 3Q15 4Q15 FICC Equities $456 $444 $443 $431 $416 $51 $62 $55 $51 $44 $0 $25 $50 $75 $100 $0 $100 $200 $300 $400 $500 4Q14 1Q15 2Q15 3Q15 4Q15 Avg. trading-related assets Avg. VaR • #1 Global Research Firm for 5th consecutive year (Institutional Investor ’15) • #1 All-America Research Team (Institutional Investor ’15) • #1 in Global Equities trading commissions in 2015 (Greenwich Associates) • Americas Derivatives House of the Year (Global Capital) • 2015 Greenwich Quality Leader in Overall U.S. Fixed-Income Sales and Overall U.S. Fixed- Income Trading • #2 U.S. Business Done for Fixed Income & FX 1 ____________________ Note: Amounts may not total due to rounding. 1 Source: Orion. Released in December 2015 for the 12 months ended 2Q15. 2 Represents a non-GAAP financial measure. Reported sales & trading revenue was $2.4B, $3.2B, $3.1B, $3.5B and $1.7B for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. Reported FICC sales & trading revenue was $1.6B, $2.0B, $2.0B, $2.4B and $0.9B for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. Reported equities sales & trading revenue was $0.9B, $1.1B, $1.2B, $1.1B and $0.9B for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. See note E on slide 27. 3 Macro includes G10 FX, rates and commodities products. 4 See note D on slide 27 for definition of VaR. 59% 41% Credit / other Macro 58% 42% U.S. / Canada International Sales & Trading Revenue (excl. net DVA) 2 ($B) Avg. Trading-related Assets ($B) and VaR ($MM) 4 Business Leadership 2015 Total FICC S&T Revenue Mix (excl. net DVA) 2 2015 Global Markets Revenue Mix (excl. net DVA) 2 3

Legacy Assets & Servicing 21 • Net loss of $0.4B in 4Q15 • Total revenue declined from 4Q14, driven by a decrease in NII on lower loan balances, as well as a modest decline in noninterest income – Mortgage banking income relatively stable from 4Q14 as lower servicing fees and MSR net of hedge results were offset by lower representations and warranties provision • Provision benefit declined $0.1B from 4Q14, driven primarily by a slower pace of portfolio improvement • Litigation expense increased from 4Q14 • LAS expenses, excluding litigation, of $0.8B in 4Q15 – 60+ days delinquent first mortgage loans serviced down 46% from 4Q14 to 103K units in 4Q15 – LAS employees declined 35% from 4Q14 ____________________ 1 FTE basis. 2 Represents a non-GAAP financial measure. 3 Serviced by LAS employees. 4 Includes first mortgage and home equity. 5 Includes other FTEs supporting LAS (contractors). $ in millions Net interest income 1 $347 ($35) ($43) Noninterest income 241 (217) (7) Total revenue, net of interest expense 1 588 (252) (50) Provis ion for credit losses (10) (16) 103 Noninterest expense 1,148 6 (212) Litigation expense 353 125 97 Noninterest expense, excluding litigation 2 795 (119) (309) Income tax expense (benefi t) 1 (199) (87) 31 Net income (loss ) ($351) ($155) $28 Key Indicators ($ in billions) Average loans and leases $27.2 $29.1 $33.8 MSR (EOP) 2.7 2.7 3.3 Capita l i zed MSR (bps) 71 69 69 Loans serviced for investors (EOP) 378 391 474 Total LAS mortgage banking income 0.3 0.3 0.2 4Q15 4Q14 Inc/(Dec) 4Q15 3Q15 4Q14 3Q15 189 153 132 114 103 0 50 100 150 200 4Q14 1Q15 2Q15 3Q15 4Q15 LAS Employees 5 17.1K 15.5K 13.7K 12.3K 11.2K $461 $430 $392 $345 $353 5,272 5,120 4,701 4,481 4,351 0 2,000 4,000 6,000 8,000 10,000 $0 $200 $400 $600 4Q14 1Q15 2Q15 3Q15 4Q15 Servicing fees Total servicing portfolio Servicing Fees ($MM) and Servicing Portfolio (units in 000’s) 3 60+ Days Delinquent First Mortgage Loans (units in 000’s) 3 4

• Net loss of $0.3B in 4Q15 • 4Q15 NII impacted by reduction for certain trust preferred securities, as well as positive market-related adjustments on debt securities • Noninterest income improved from 4Q14, driven primarily by the absence of a provision for U.K. payment protection insurance as well as higher gains on sale of debt securities • Provision benefit of $112MM declined from 4Q14, driven by lower recoveries, including those on the sale of nonperforming loans • Noninterest expense declined $0.3B from 4Q14, due primarily to lower personnel and litigation costs, partially offset by higher professional fees • 4Q15 income tax includes the $0.3B negative impact from U.K. tax law changes ____________________ 1 All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were in All Other. Additionally, certain residential mortgage loans that are managed by LAS are held in All Other. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments (GPI) which is comprised of a portfolio of equity, real estate and other alternative investments. 2 FTE basis. 3 In the U.K., we previously sold payment protection insurance through our international card services business to credit card and consumer loan customers. 22 All Other 1 $ in millions Net interest income 2 ($387) $115 ($38) Noninterest income (158) (172) 239 Total revenue, net of interest expense 2 (545) (57) 201 Provis ion for credit losses (112) (45) 218 Noninterest expense 210 126 (274) Income (loss ) before income taxes 2 (643) (138) 257 Income tax expense (benefi t) 2 (354) 155 171 Net income (loss ) ($289) ($293) $86 Selected Revenue Items ($ in millions) Equity investment income (loss ) $34 ($46) ($38) Gains on sa les of debt securi ties 269 385 161 U.K. payment protection insurance provis ion 3 - (303) (139) Key Indicators ($ in billions) Average loans and leas s $128.5 $137.8 $183.1 Book va lue of Global Pri cipa l Investments 0.5 0.5 0.9 Total BAC equity investment exposure 11.5 10.8 11.7 Inc/(Dec) 3Q15 4Q14 4Q15 3Q15 4Q14 4Q15 4Q15 3Q15 4Q14

Key Takeaways 23 • Full year net income of $15.9B reflects improved earnings results • Solid deposit and loan growth driven by good customer activity • Growth in net interest income • Managing costs while continuing to invest in the business • Asset quality remains strong • Strong capital and liquidity levels • Focused on responsible growth

Appendix

____________________ 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. Consumer Real Estate Asset Quality Key Indicators 25 Loans end of period $187,911 $138,768 $187,939 $136,786 $75,948 $71,329 $78,030 $73,165 Loans average 187,970 137,438 192,063 136,597 76,874 72,131 79,507 74,551 Net charge-offs $73 $73 $26 $26 $193 $193 $120 $120 % of average loans 0.15 % 0.21 % 0.05 % 0.08 % 0.99 % 1.06 % 0.60 % 0.64 % Allowance for loan losses $1,500 $1,162 $1,755 $1,358 $2,414 $1,948 $2,645 $2,156 % of loans 0.80 % 0.84 % 0.93 % 0.99 % 3.18 % 2.73 % 3.39 % 2.95 % Average refreshed (C)LTV 2 62 63 64 66 90%+ refre hed (C)LTV 2 9 % 10 % 16 % 19 % Average refreshed FICO 748 746 749 748 % below 620 FICO 6 % 6 % 7 % 7 % $ in mi l l ions Residential Mortgage 1 Home Equity 1 4Q15 3Q15 4Q15 3Q15 As Reported Excluding Purchased Credit-impaired and Ful ly-insured Loans As Reported Excluding Purchased Credit-impaired and Ful ly-insured Loans As Reported Excluding Purchased Credit-impaired Loans As Reported Excluding Purchased Credit-impaired Loans

Regulatory Capital – Basel 3 transition to fully phased-in 4Q15 3Q15 4Q14 Common equity tier 1 capital (transition) $163,026 $161,649 $155,361 Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition (5,151) (5,554) (8,905) Accumulated OCI phased in during transition (1,917) (1,018) (1,592) Intangibles phased in during transition (1,559) (1,654) (2,556) Defined benefit pension fund assets phased in during transition (568) (470) (599) DVA related to liabilities and derivatives phased in during transition 307 228 925 Other adjustments and deductions phased in during transition (54) (92) (1,417) Common equity tier 1 capital (fully phased-in) $154,084 $153,089 $141,217 Tier 1 capital (transition) $180,778 $178,830 $168,973 Transition adjustments (4,964) (4,199) (8,493) Tier 1 capital (fully phased-in) $175,814 $174,631 $160,480 Risk-weighted Assets – As reported to Basel 3 (fully phased-in) 4Q15 3Q15 4Q14 As reported risk-weighted assets $1,602,070 $1,391,672 $1,261,544 Change in risk-weighted assets from reported to fully phased-in (27,690) 22,989 153,722 Basel 3 Advanced approaches risk-weighted assets (fully phased-in) 3, 4 $1,574,380 n/a n/a Basel 3 Standardized approach risk-weighted assets (fully phased-in) $1,414,661 $1,415,266 Risk-weighted Assets – (fully phased-in) 4Q15 3Q15 4Q14 Basel 3 Standardized approach risk-weighted assets (fully phased-in) $1,425,937 $1,414,661 $1,415,266 Change in risk-weighted assets for advanced models 148,443 (17,157) 50,213 Basel 3 Advanced approaches risk-weighted assets (fully phased-in) 3, 4 $1,574,380 $1,397,504 $1,465,479 Basel 3 Regulatory Capital Ratios 4Q15 3Q15 4Q14 As reported Common equity tier 1 (transition) 10.2 % 11.6 % 12.3 % Standardized approach Common equity tier 1 (fully phased-in) 10.8 10.8 10.0 Advanced approaches Common equity tier 1 (fully phased-in) 3, 4 9.8 11.0 9.6 Bank holding company SLR (transition) 6.6 6.5 6.2 Bank holding company SLR (fully phased-in) 6.4 6.4 5.9 26 Regulatory Capital Reconciliations ($MM) 1, 2 ____________________ n/a = not applicable 1 Regulatory capital ratios are preliminary. For important presentation information, see slide 29. 2 Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy and was the Advanced approaches in the fourth quarter of 2015. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only. 3 With the approval to exit parallel, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk-weighted assets in the fourth quarter of 2015. Including these modifications, the estimated pro-forma RWA and CET1 ratio under the Basel 3 Advanced approaches on a fully phased-in basis for 3Q15 was $1,570B and 9.7% at September 30, 2015. 4 Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the IMM. As of December 31, 2015, BAC had not received IMM approval.

Notes 27 A In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The Corporation has early adopted, retrospective to January 1, 2015, the provision that requires the Corporation to present unrealized gains/losses resulting from changes in the Corporation's own credit spreads on liabilities accounted for under the fair value option (referred to as debit valuation adjustments, or DVA) in accumulated OCI. The impact of the adoption was to reclassify, as of January 1, 2015, unrealized DVA losses of $2.0B pretax ($1.2B after tax) from January 1, 2015 retained earnings to accumulated OCI. Further, pre-tax unrealized DVA gains of $301MM, $301MM and $420MM were reclassified from other income to accumulated OCI for 3Q15, 2Q15 and 1Q15, respectively. This had the effect of reducing net income as previously reported for the aforementioned quarters by $187MM, $186MM and $260MM, or approximately $0.02 per quarter. This change is reflected in consolidated results and the Global Markets segment results. Results for 2014 were not subject to restatement under the provisions of the new accounting guidance. B 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 other regulated entities are subject to certain regulatory restrictions. C Time to Required Funding (TTF) is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of Bank of America Corporation can be met using only the BAC parent company’s Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. We define unsecured contractual obligations for purposes of this metric as maturities of senior or subordinated debt issued or guaranteed by Bank of America Corporation. For all periods shown, we have included in the amount of unsecured contractual obligations the liability, including estimated costs, for the previously announced BNY Mellon private-label securitization settlement. As of 4Q15, this amount was $8.5B. D VaR model uses historical simulation approach based on three years of historical data and an expected shortfall methodology equivalent to a 99% confidence level. Using a 95% confidence level, average VaR was $22MM, $24MM, $23MM, $30MM, $24MM, $39MM and $48MM for 4Q15, 3Q15, 2Q15, 1Q15, 4Q14, 4Q13 and 4Q12, respectively. E Revenue for all periods included net DVA on derivatives, as well as amortization of own credit portion of purchase discount and realized DVA on structured liabilities; periods prior to 2015 also included unrealized DVA on structured liabilities. In 4Q14, a funding valuation adjustment (FVA) on uncollateralized derivative transactions was implemented, and a transitional charge of $497MM related to the adoption was recorded and included in net DVA. Net DVA gains (losses) were ($198MM), $12MM, ($199MM), ($401MM) and ($626MM) for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. Net DVA gains (losses) included in FICC revenue were ($190MM), $18MM, ($199MM), ($392MM) and ($577MM) for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14 and ($763MM), ($308MM), ($1.1B) and ($6.4B) for 2015, 2014, 2013 and 2012, respectively. Net DVA gains (losses) included in equities revenue were ($8MM), ($6MM), $0, ($9MM) and ($49MM) for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14 and ($23MM), $68MM, ($43MM) and ($1.2B) for 2015, 2014, 2013 and 2012, respectively. All amounts for 2015 reflect the adoption of the new accounting guidance as mentioned in note A above. F The numerator of the SLR is quarter-end Basel 3 Tier 1 capital. The denominator is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions. Differences between fully phased-in and transitional supplementary leverage exposures are immaterial. G Market-related NII adjustments include retrospective changes to debt security premium or discount amortization resulting from changes in estimated prepayments, due primarily to changes in interest rates, and hedge ineffectiveness. Amortization of premiums and accretion of discounts are included in interest income. When a change is made to the estimated lives of the securities, primarily as a result of changes in interest rates, the related premium or discount is adjusted, with a corresponding charge or benefit to interest income, to the appropriate amount had the current estimated lives been applied since the purchase of the securities. For more information, see Note 1 – Summary of Significant Accounting Principles to the Consolidated Financial Statements of the Corporation’s 2014 Annual Report on Form 10-K.

Forward-Looking Statements 28 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,” “may,” “might,” “should,” “would” and “could.” Forward-looking statements represent Bank of America's current expectations, plans or forecasts of its future results and revenues, and future business and economic conditions more generally, and other future matters. These statements are not guarantees of future results or performance and involve certain known and unknown 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 the following uncertainties and risks, as well as the risks and uncertainties more fully discussed under Item 1A. Risk Factors of Bank of America's 2014 Annual Report on Form 10-K, and in any of Bank of America's subsequent Securities and Exchange Commission filings: the Company's ability to resolve representations and warranties repurchase and related claims, including claims brought by investors or trustees seeking to distinguish certain aspects of the ACE Securities Corp. v. DB Structured Products, Inc. (ACE) ruling or to assert other claims seeking to avoid the impact of the ACE ruling; the possibility that the Company could face related servicing, securities, fraud, indemnity, contribution or other claims from one or more counterparties, including trustees, purchasers of loans, underwriters, issuers, other parties involved in securitizations, monolines or private-label and other investors; the possibility that future representations and warranties losses may occur in excess of the Company's recorded liability and estimated range of possible loss for its representations and warranties exposures; the possibility that the Company may not collect mortgage insurance claims; potential claims, damages, penalties, fines and reputational damage resulting from pending or future litigation and regulatory proceedings, including the possibility that amounts may be in excess of the Company’s recorded liability and estimated range of possible losses for litigation exposures; the possibility that the European Commission will impose remedial measures in relation to its investigation of the Company's competitive practices; the possible outcome of LIBOR, other reference rate and foreign exchange inquiries and investigations; uncertainties about the financial stability and growth rates of non-U.S. jurisdictions, the risk that those jurisdictions may face difficulties servicing their sovereign debt, and related stresses on financial markets, currencies and trade, and the Company's exposures to such risks, including direct, indirect and operational; the impact of U.S. and global interest rates, currency exchange rates and economic conditions; the impact on the Company's business, financial condition and results of operations of a potential higher interest rate environment; the impact on the Company’s business, financial condition and results of operations from a protracted period of lower energy prices; adverse changes to the Company's credit ratings from the major credit rating agencies; estimates of the fair value of certain of the Company's assets and liabilities; uncertainty regarding the content, timing and impact of regulatory capital and liquidity requirements, including the potential adoption of total loss-absorbing capacity requirements; the potential for payment protection insurance exposure to increase as a result of Financial Conduct Authority actions; the possible impact of Federal Reserve actions on the Company’s capital plans; the impact of implementation and compliance with new and evolving U.S. and international regulations, including but not limited to recovery and resolution planning requirements, the Volcker Rule, and derivatives regulations; a failure in or breach of the Company’s operational or security systems or infrastructure, or those of third parties, including as a result of cyber attacks; and other similar matters. 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.

• The information contained herein 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 slides. Bank of America does not undertake an obligation to, and disclaims any duty to, update any of the information provided. • 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 for the quarter ended December 31, 2015 and other earnings-related information available through the Bank of America Investor Relations web site at: http://investor.bankofamerica.com. • The Company views net interest income and related ratios and analyses on a fully taxable-equivalent (FTE) basis, which when presented on a consolidated basis, are non-GAAP financial measures. The Company believes managing the business with net interest income on an FTE basis provides a more accurate picture of the interest margin for comparative purposes. The FTE adjustment was $231MM, $231MM, $228MM, $219MM and $230MM for 4Q15, 3Q15, 2Q15, 1Q15 and 4Q14, respectively. • The Company’s fully phased-in Basel 3 estimates and the supplementary leverage ratio are based on the Standardized and Advanced approaches under Basel 3 and supplementary leverage ratio final rules. Under the Basel 3 Advanced approaches, risk-weighted assets are determined primarily for market risk and credit risk, similar to the Standardized approach, but also incorporate operational risk and a credit valuation adjustment component. Market risk capital measurements are consistent with the Standardized approach, except for securitization exposures, where the Supervisory Formula Approach is also permitted. Credit risk exposures are measured using internal ratings-based models to determine the applicable risk weight by estimating the probability of default, loss given default and, in certain instances, exposure at default. The internal analytical models primarily rely on internal historical default and loss experience. The calculations under Basel 3 require management to make estimates, assumptions and interpretations, including the probability of future events based on historical experience. Actual results could differ from those estimates and assumptions. Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. As previously disclosed, with the approval to exit parallel, U.S. banking regulators requested modifications to certain internal analytical models including the wholesale (e.g., commercial) credit models, which increased our risk- weighted assets in the fourth quarter of 2015. These Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, BAC had not received IMM approval. Our estimates under the Basel 3 Advanced approaches may be refined over time as a result of further rulemaking or clarification by U.S. banking regulators. • The Company allocates capital to its business segments using a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Company's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile and strategic plans. As a result of this process, in the first quarter 2015, the Company adjusted the amount of capital being allocated to its business segments, primarily LAS. Important Presentation Information 29

EX-99.3

Supplemental Information

Fourth Quarter 2015

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

Bank of America Corporation and Subsidiaries
Table of Contents	Page
Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Statement of Comprehensive Income	5
Consolidated Balance Sheet	6
Capital Management	8
Regulatory Capital Reconciliations	9
Net Interest Income Excluding Trading-related Net Interest Income	10
Quarterly Average Balances and Interest Rates	11
Annual Average Balances and Interest Rates	13
Debt Securities and Available-for-Sale Marketable Equity Securities	15
Quarterly Results by Business Segment	16
Annual Results by Business Segment	18
Consumer Banking
Total Segment Results	19
Business Results	20
Key Indicators	23
Global Wealth & Investment Management
Total Segment Results	25
Key Indicators	26
Global Banking
Total Segment Results	27
Key Indicators	28
Investment Banking Product Rankings	29
Global Markets
Total Segment Results	30
Key Indicators	31
Legacy Assets & Servicing
Total Segment Results	32
Key Indicators	33
All Other
Total Results	34
Outstanding Loans and Leases	35
Quarterly Average Loans and Leases by Business Segment	36
Commercial Credit Exposure by Industry	37
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	38
Top 20 Non-U.S. Countries Exposure	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
Annual 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 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Income statement
Net interest income	$	39,251		$	39,952		$	9,801		$	9,511		$	10,488		$	9,451		$	9,635
Noninterest income	43,256			44,295			9,727			10,870			11,328			11,331			9,090
Total revenue, net of interest expense	82,507			84,247			19,528			20,381			21,816			20,782			18,725
Provision for credit losses	3,161			2,275			810			806			780			765			219
Noninterest expense	57,192			75,117			13,871			13,808			13,818			15,695			14,196
Income tax expense	6,266			2,022			1,511			1,446			2,084			1,225			1,260
Net income	15,888			4,833			3,336			4,321			5,134			3,097			3,050
Preferred stock dividends	1,483			1,044			330			441			330			382			312
Net income applicable to common shareholders	14,405			3,789			3,006			3,880			4,804			2,715			2,738
Diluted earnings per common share	1.31			0.36			0.28			0.35			0.43			0.25			0.25
Average diluted common shares issued and outstanding	11,213,992			10,584,535			11,153,169			11,197,203			11,238,060			11,266,511			11,273,773
Dividends paid per common share	$	0.20		$	0.12		$	0.05		$	0.05		$	0.05		$	0.05		$	0.05
Performance ratios
Return on average assets	0.74		%	0.23		%	0.61		%	0.79		%	0.96		%	0.59		%	0.57		%
Return on average common shareholders' equity	6.26			1.70			5.08			6.65			8.42			4.88			4.84
Return on average tangible common shareholders' equity (1)	9.11			2.52			7.32			9.65			12.31			7.19			7.15
Return on average tangible shareholders' equity (1)	8.83			2.92			7.15			9.43			11.51			7.24			7.08
At period end
Book value per share of common stock	$	22.54		$	21.32		$	22.54		$	22.41		$	21.91		$	21.66		$	21.32
Tangible book value per share of common stock (1)	15.62			14.43			15.62			15.50			15.02			14.79			14.43
Market price per share of common stock:
Closing price	$	16.83		$	17.89		$	16.83		$	15.58		$	17.02		$	15.39		$	17.89
High closing price for the period	18.45			18.13			17.95			18.45			17.67			17.90			18.13
Low closing price for the period	15.15			14.51			15.38			15.26			15.41			15.15			15.76
Market capitalization	174,700			188,141			174,700			162,457			178,231			161,909			188,141
Number of financial centers - U.S.	4,726			4,855			4,726			4,741			4,789			4,835			4,855
Number of branded ATMs - U.S.	16,038			15,834			16,038			16,062			15,992			15,903			15,834
Full-time equivalent employees	213,280			223,715			213,280			215,193			216,679			219,658			223,715

⁽¹⁾  Tangible equity ratios and tangible book value per share of common stock are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

New Accounting Guidance on Recognition and Measurement of Financial Instruments

In January 2016, the FASB issued new accounting guidance on recognition and measurement of financial instruments. The Corporation has early adopted, retrospective to January 1, 2015, the provision that requires the Corporation to present unrealized gains/losses resulting from changes in the Corporation's own credit spreads on liabilities accounted for under the fair value option (referred to as debit valuation adjustments, or DVA) in accumulated OCI.  The impact of the adoption was to reclassify, as of January 1, 2015, unrealized DVA losses of $2.0 billion pre-tax ($1.2 billion after tax) from January 1, 2015 retained earnings to accumulated OCI. Further, pre-tax unrealized DVA gains of $301 million, $301 million and $420 million were reclassified from other income to accumulated OCI for the three months ended September 30, 2015, June 30, 2015 and March 31, 2015, respectively. This had the effect of reducing net income as previously reported for the aforementioned quarters by $187 million, $186 million and $260 million, or approximately $0.02 per quarter. This change is reflected in consolidated results and the Global Markets segment results. Results for 2014 were not subject to restatement under the provisions of the new accounting guidance.

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

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

Bank of America Corporation and Subsidiaries
Supplemental Financial Data
(Dollars in millions)
Fully taxable-equivalent (FTE) basis data(1)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income	$	40,160		$	40,821		$	10,032		$	9,742		$	10,716		$	9,670		$	9,865
Total revenue, net of interest expense (2)	83,416			85,116			19,759			20,612			22,044			21,001			18,955
Net interest yield	2.20		%	2.25		%	2.16		%	2.10		%	2.37		%	2.17		%	2.18		%
Efficiency ratio (2)	68.56			88.25			70.20			66.99			62.69			74.73			74.90

⁽¹⁾  FTE basis is a non-GAAP financial measure. FTE basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

⁽²⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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 2015		Third Quarter 2015			Second Quarter 2015		First Quarter 2015		Fourth Quarter 2014
	2015		2014
Interest income
Loans and leases	$	32,070	$	34,307	$	8,051	$	8,005		$	7,978	$	8,036	$	8,377
Debt securities	9,319		8,021		2,523		1,839			3,070		1,887		1,675
Federal funds sold and securities borrowed or purchased under agreements to resell	988		1,039		214		275			268		231		238
Trading account assets	4,397		4,561		1,106		1,134			1,074		1,083		1,098
Other interest income	3,026		2,958		804		754			742		726		764
Total interest income	49,800		50,886		12,698		12,007			13,132		11,963		12,152
Interest expense
Deposits	861		1,080		211		214			216		220		237
Short-term borrowings	2,387		2,578		519		597			686		585		615
Trading account liabilities	1,343		1,576		272		342			335		394		351
Long-term debt	5,958		5,700		1,895		1,343			1,407		1,313		1,314
Total interest expense	10,549		10,934		2,897		2,496			2,644		2,512		2,517
Net interest income	39,251		39,952		9,801		9,511			10,488		9,451		9,635
Noninterest income
Card income	5,959		5,944		1,578		1,510			1,477		1,394		1,610
Service charges	7,381		7,443		1,862		1,898			1,857		1,764		1,844
Investment and brokerage services	13,337		13,284		3,236		3,336			3,387		3,378		3,397
Investment banking income	5,572		6,065		1,272		1,287			1,526		1,487		1,541
Equity investment income (loss)	261		1,130		177		(31		)	88		27		(20		)
Trading account profits	6,473		6,309		963		1,616			1,647		2,247		111
Mortgage banking income	2,364		1,563		262		407			1,001		694		352
Gains on sales of debt securities	1,091		1,354		270		385			168		268		163
Other income	818		1,203		107		462			177		72		92
Total noninterest income	43,256		44,295		9,727		10,870			11,328		11,331		9,090
Total revenue, net of interest expense	82,507		84,247		19,528		20,381			21,816		20,782		18,725
Provision for credit losses	3,161		2,275		810		806			780		765		219
Noninterest expense
Personnel	32,868		33,787		7,535		7,829			7,890		9,614		7,693
Occupancy	4,093		4,260		1,011		1,028			1,027		1,027		996
Equipment	2,039		2,125		528		499			500		512		531
Marketing	1,811		1,829		481		445			445		440		491
Professional fees	2,264		2,472		676		673			494		421		677
Amortization of intangibles	834		936		202		207			212		213		228
Data processing	3,115		3,144		817		731			715		852		796
Telecommunications	823		1,259		240		210			202		171		254
Other general operating	9,345		25,305		2,381		2,186			2,333		2,445		2,530
Total noninterest expense	57,192		75,117		13,871		13,808			13,818		15,695		14,196
Income before income taxes	22,154		6,855		4,847		5,767			7,218		4,322		4,310
Income tax expense	6,266		2,022		1,511		1,446			2,084		1,225		1,260
Net income	$	15,888	$	4,833	$	3,336	$	4,321		$	5,134	$	3,097	$	3,050
Preferred stock dividends	1,483		1,044		330		441			330		382		312
Net income applicable to common shareholders	$	14,405	$	3,789	$	3,006	$	3,880		$	4,804	$	2,715	$	2,738
Per common share information
Earnings	$	1.38	$	0.36	$	0.29	$	0.37		$	0.46	$	0.26	$	0.26
Diluted earnings	1.31		0.36		0.28		0.35			0.43		0.25		0.25
Dividends paid	0.20		0.12		0.05		0.05			0.05		0.05		0.05
Average common shares issued and outstanding	10,462,282		10,527,818		10,399,422		10,444,291			10,488,137		10,518,790		10,516,334
Average diluted common shares issued and outstanding	11,213,992		10,584,535		11,153,169		11,197,203			11,238,060		11,266,511		11,273,773

For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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

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

Bank of America Corporation and Subsidiaries
Consolidated Statement of Comprehensive Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net income (1)	$	15,888		$	4,833		$	3,336		$	4,321		$	5,134		$	3,097		$	3,050
Other comprehensive income (loss), net-of-tax:
Net change in available-for-sale debt and marketable equity securities	(1,598		)	4,621			(1,815		)	1,418			(2,537		)	1,336			2,021
Net change in derivatives	584			616			168			127			246			43			205
Employee benefit plan adjustments	394			(943		)	317			27			25			25			(1,007		)
Net change in foreign currency translation adjustments	(123		)	(157		)	(39		)	(76		)	43			(51		)	(24		)
Net change in certain debit valuation adjustments (1)	615			—			(18		)	187			186			260			—
Other comprehensive income (loss)	(128		)	4,137			(1,387		)	1,683			(2,037		)	1,613			1,195
Comprehensive income	$	15,760		$	8,970		$	1,949		$	6,004		$	3,097		$	4,710		$	4,245

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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

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

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet
(Dollars in millions)
	December 31 2015			September 30 2015			December 31 2014
Assets
Cash and due from banks	$	31,265		$	27,886		$	33,118
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	128,088			142,540			105,471
Cash and cash equivalents	159,353			170,426			138,589
Time deposits placed and other short-term investments	7,744			6,485			7,510
Federal funds sold and securities borrowed or purchased under agreements to resell	192,482			206,681			191,823
Trading account assets	176,527			180,018			191,785
Derivative assets	49,990			55,226			52,682
Debt securities:
Carried at fair value	322,380			325,078			320,695
Held-to-maturity, at cost	84,625			66,573			59,766
Total debt securities	407,005			391,651			380,461
Loans and leases	903,001			887,689			881,391
Allowance for loan and lease losses	(12,234		)	(12,657		)	(14,419		)
Loans and leases, net of allowance	890,767			875,032			866,972
Premises and equipment, net	9,485			9,554			10,049
Mortgage servicing rights	3,087			3,043			3,530
Goodwill	69,761			69,761			69,777
Intangible assets	3,768			3,973			4,612
Loans held-for-sale	7,453			8,842			12,836
Customer and other receivables	58,312			63,443			61,845
Other assets	108,582			108,871			112,063
Total assets	$	2,144,316		$	2,153,006		$	2,104,534
Assets of consolidated variable interest entities included in total assets above (isolated to settle the liabilities of the variable interest entities)
Trading account assets	$	6,344		$	5,514		$	6,890
Loans and leases	72,946			79,121			95,187
Allowance for loan and lease losses	(1,320		)	(1,595		)	(1,968		)
Loans and leases, net of allowance	71,626			77,526			93,219
Loans held-for-sale	284			338			1,822
All other assets	1,530			2,424			2,769
Total assets of consolidated variable interest entities	$	79,784		$	85,802		$	104,700

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

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

Bank of America Corporation and Subsidiaries
Consolidated Balance Sheet (continued)
(Dollars in millions)
	December 31 2015			September 30 2015			December 31 2014
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	422,237		$	417,837		$	393,102
Interest-bearing	703,761			676,812			660,161
Deposits in non-U.S. offices:
Noninterest-bearing	9,916			8,519			7,230
Interest-bearing	61,345			58,841			58,443
Total deposits	1,197,259			1,162,009			1,118,936
Federal funds purchased and securities loaned or sold under agreements to repurchase	174,291			199,238			201,277
Trading account liabilities	66,963			74,252			74,192
Derivative liabilities	38,450			45,862			46,909
Short-term borrowings	28,098			34,518			31,172
Accrued expenses and other liabilities (includes $646, $661 and $528 of reserve for unfunded lending commitments)	146,286			143,934			145,438
Long-term debt	236,764			237,288			243,139
Total liabilities	1,888,111			1,897,101			1,861,063
Shareholders' equity
Preferred stock, $0.01 par value; authorized – 100,000,000 shares; issued and outstanding – 3,767,790, 3,767,790 and 3,647,790 shares	22,273			22,273			19,309
Common stock and additional paid-in capital, $0.01 par value; authorized – 12,800,000,000 shares; issued and outstanding – 10,380,265,063, 10,427,305,035 and 10,516,542,476 shares	151,042			151,841			153,458
Retained earnings (1)	88,564			86,078			75,024
Accumulated other comprehensive income (loss) (1)	(5,674		)	(4,287		)	(4,320		)
Total shareholders' equity	256,205			255,905			243,471
Total liabilities and shareholders' equity	$	2,144,316		$	2,153,006		$	2,104,534
Liabilities of consolidated variable interest entities included in total liabilities above
Short-term borrowings	$	681		$	567		$	1,032
Long-term debt	14,073			12,922			13,307
All other liabilities	21			103			138
Total liabilities of consolidated variable interest entities	$	14,775		$	13,592		$	14,477

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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

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

Bank of America Corporation and Subsidiaries
Capital Management
(Dollars in millions)
	Basel 3 Transition
	December 31 2015			September 30 2015			June 30 2015			March 31 2015			December 31 2014
Risk-based capital metrics (1):
Standardized Approach (2)
Common equity tier 1 capital	$	163,026		$	161,649		$	158,326		$	155,438		$	155,361
Tier 1 capital	180,778			178,830			176,247			173,155			168,973
Total capital	220,676			219,901			217,538			214,481			208,670
Risk-weighted assets	1,401,849			1,391,672			1,407,891			1,405,267			1,261,544
Common equity tier 1 capital ratio	11.6		%	11.6		%	11.2		%	11.1		%	12.3		%
Tier 1 capital ratio	12.9			12.9			12.5			12.3			13.4
Total capital ratio	15.7			15.8			15.5			15.3			16.5
Advanced Approaches (3)
Common equity tier 1 capital	$	163,026		n/a			n/a			n/a			n/a
Tier 1 capital	180,778			n/a			n/a			n/a			n/a
Total capital	210,929			n/a			n/a			n/a			n/a
Risk-weighted assets	1,602,070			n/a			n/a			n/a			n/a
Common equity tier 1 capital ratio	10.2		%	n/a			n/a			n/a			n/a
Tier 1 capital ratio	11.3			n/a			n/a			n/a			n/a
Total capital ratio	13.2			n/a			n/a			n/a			n/a
Leverage-based metrics (4)
Adjusted average assets	$	2,103,020		$	2,091,628		$	2,073,526		$	2,059,646		$	2,059,573
Tier 1 leverage ratio	8.6		%	8.5		%	8.5		%	8.4		%	8.2		%
Supplementary leverage ratio leverage exposure	$	2,739,004		$	2,740,854		$	2,731,449		$	2,707,984		$	2,732,165
Supplementary leverage ratio	6.6		%	6.5		%	6.5		%	6.4		%	6.2		%
Tangible equity ratio (5)	8.9			8.8			8.6			8.6			8.4
Tangible common equity ratio (5)	7.8			7.8			7.6			7.5			7.5

⁽¹⁾  Regulatory capital ratios are preliminary and reflect the transition provisions of Basel 3.

⁽²⁾  Common equity tier 1 capital ratios at December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015 reflect the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

⁽³⁾  Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015.

⁽⁴⁾  The numerator of the supplementary leverage ratio and Tier 1 leverage ratio is quarter-end Basel 3 Tier 1 capital reflective of Basel 3 numerator transition provisions. The denominator of supplementary leverage exposure is total leverage exposure based on the daily average of the sum of on-balance sheet exposures less permitted Tier 1 deductions, as well as the simple average of certain off-balance sheet exposures, as of the end of each month in a quarter. Off-balance sheet exposures primarily include undrawn lending commitments, letters of credit, potential future derivative exposures and repo-style transactions.

⁽⁵⁾  Tangible equity ratio equals period-end tangible shareholders' equity divided by period-end tangible assets. Tangible common equity ratio equals period-end tangible common shareholders' equity divided by period-end tangible assets. Tangible shareholders' equity and tangible assets are non-GAAP financial measures. We believe the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate non-GAAP financial measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 45-48.)

n/a = not applicable

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

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

Bank of America Corporation and Subsidiaries
Regulatory Capital Reconciliations (1, 2, 3)
(Dollars in millions)
	December 31 2015			September 30 2015			June 30 2015			March 31 2015			December 31 2014
Regulatory capital – Basel 3 transition to fully phased-in
Common equity tier 1 capital (transition) (4)	$	163,026		$	161,649		$	158,326		$	155,438		$	155,361
Deferred tax assets arising from net operating loss and tax credit carryforwards phased in during transition	(5,151		)	(5,554		)	(5,706		)	(6,031		)	(8,905		)
Accumulated OCI phased in during transition	(1,917		)	(1,018		)	(1,884		)	(378		)	(1,592		)
Intangibles phased in during transition	(1,559		)	(1,654		)	(1,751		)	(1,821		)	(2,556		)
Defined benefit pension fund assets phased in during transition	(568		)	(470		)	(476		)	(459		)	(599		)
DVA related to liabilities and derivatives phased in during transition	307			228			384			498			925
Other adjustments and deductions phased in during transition	(54		)	(92		)	(587		)	(48		)	(1,417		)
Common equity tier 1 capital (fully phased-in)	$	154,084		$	153,089		$	148,306		$	147,199		$	141,217
Risk-weighted assets – As reported to Basel 3 (fully phased-in)
Basel 3 Standardized approach risk-weighted assets as reported (4)	$	1,401,849		$	1,391,672		$	1,407,891		$	1,405,267		$	1,261,544
Changes in risk-weighted assets from reported to fully phased-in	24,088			22,989			25,460			25,394			153,722
Basel 3 Standardized approach risk-weighted assets (fully phased-in)	$	1,425,937		$	1,414,661		$	1,433,351		$	1,430,661		$	1,415,266
Basel 3 Advanced approaches risk-weighted assets as reported	$	1,602,070		n/a			n/a			n/a			n/a
Changes in risk-weighted assets from reported to fully phased-in	(27,690		)	n/a			n/a			n/a			n/a
Basel 3 Advanced approaches risk-weighted assets (fully phased-in) (5)	$	1,574,380		$	1,397,504		$	1,427,388		$	1,461,190		$	1,465,479
Regulatory capital ratios
Basel 3 Standardized approach common equity tier 1 (transition) (4)	11.6		%	11.6		%	11.2		%	11.1		%	12.3		%
Basel 3 Advanced approaches common equity tier 1 (transition)	10.2			n/a			n/a			n/a			n/a
Basel 3 Standardized approach common equity tier 1 (fully phased-in)	10.8			10.8			10.3			10.3			10.0
Basel 3 Advanced approaches common equity tier 1 (fully phased-in) (5)	9.8			11.0			10.4			10.1			9.6

⁽¹⁾  Regulatory capital ratios are preliminary.

⁽²⁾  Bank of America received approval to begin using the Advanced approaches capital framework to determine risk-based capital requirements beginning in the fourth quarter of 2015. With the approval to exit parallel run, Bank of America is now required to report regulatory capital under both the Standardized and Advanced approaches. The approach that yields the lower ratio is to be used to assess capital adequacy and was the Advanced approaches in the fourth quarter of 2015. Prior to exiting parallel run, we were required to report regulatory capital under the Standardized approach only.

⁽³⁾  Fully phased-in estimates are non-GAAP financial measures. For reconciliations to GAAP financial measures, see above.

⁽⁴⁾  Common equity tier 1 capital ratios at December 31, 2015, September 30, 2015, June 30, 2015 and March 31, 2015 reflect the migration of the risk-weighted assets calculation from the general risk-based approach to the Basel 3 Standardized approach, and Common equity tier 1 capital includes the 2015 phase-in of regulatory capital transition provisions.

⁽⁵⁾ Basel 3 fully phased-in Advanced approaches estimates assume approval by U.S. banking regulators of our internal analytical models, including approval of the internal models methodology (IMM). As of December 31, 2015, the Corporation had not received IMM approval.

n/a = not applicable

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

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

Bank of America Corporation and Subsidiaries
Net Interest Income Excluding Trading-related Net Interest Income
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)
As reported	$	40,160		$	40,821		$	10,032		$	9,742		$	10,716		$	9,670		$	9,865
Impact of trading-related net interest income	(3,928		)	(3,610		)	(1,058		)	(1,034		)	(920		)	(916		)	(938		)
Net interest income excluding trading-related net interest income (1)	$	36,232		$	37,211		$	8,974		$	8,708		$	9,796		$	8,754		$	8,927
Average earning assets
As reported	$	1,830,342		$	1,814,930		$	1,852,958		$	1,847,396		$	1,815,892		$	1,804,399		$	1,802,121
Impact of trading-related earning assets	(415,658		)	(445,760		)	(403,629		)	(421,639		)	(419,241		)	(418,214		)	(435,408		)
Average earning assets excluding trading-related earning assets (1)	$	1,414,684		$	1,369,170		$	1,449,329		$	1,425,757		$	1,396,651		$	1,386,185		$	1,366,713
Net interest yield contribution (FTE basis) (2)
As reported	2.20		%	2.25		%	2.16		%	2.10		%	2.37		%	2.17		%	2.18		%
Impact of trading-related activities	0.36			0.47			0.31			0.33			0.44			0.39			0.42
Net interest yield on earning assets excluding trading-related activities (1)	2.56		%	2.72		%	2.47		%	2.43		%	2.81		%	2.56		%	2.60		%

⁽¹⁾  Represents a non-GAAP financial measure.

⁽²⁾  Quarterly results are calculated on an annualized basis.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	Fourth Quarter 2015						Third Quarter 2015						Fourth Quarter 2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	148,102	$	108	0.29	%	$	145,174	$	96	0.26	%	$	109,042	$	74	0.27	%
Time deposits placed and other short-term investments	10,120		42		1.62		11,503		38		1.33		9,339		41		1.73
Federal funds sold and securities borrowed or purchased under agreements to resell	207,585		214		0.41		210,127		275		0.52		217,982		237		0.43
Trading account assets	134,797		1,141		3.37		140,484		1,170		3.31		144,147		1,142		3.15
Debt securities (1)	399,423		2,541		2.55		394,420		1,853		1.88		371,014		1,687		1.82
Loans and leases (2):
Residential mortgage	189,650		1,644		3.47		193,791		1,690		3.49		223,132		1,946		3.49
Home equity	77,109		715		3.69		79,715		730		3.64		86,825		808		3.70
U.S. credit card	88,623		2,045		9.15		88,201		2,033		9.15		89,381		2,087		9.26
Non-U.S. credit card	10,155		258		10.07		10,244		267		10.34		10,950		280		10.14
Direct/Indirect consumer	87,858		530		2.40		85,975		515		2.38		83,121		522		2.49
Other consumer	2,039		11		2.09		1,980		15		3.01		2,031		85		16.75
Total consumer	455,434		5,203		4.55		459,906		5,250		4.54		495,440		5,728		4.60
U.S. commercial	261,727		1,790		2.72		251,908		1,743		2.75		231,215		1,648		2.83
Commercial real estate	56,126		408		2.89		53,605		384		2.84		46,996		360		3.04
Commercial lease financing	26,127		204		3.12		25,425		199		3.12		24,238		199		3.28
Non-U.S. commercial	92,447		530		2.27		91,997		514		2.22		86,844		527		2.41
Total commercial	436,427		2,932		2.67		422,935		2,840		2.67		389,293		2,734		2.79
Total loans and leases	891,861		8,135		3.63		882,841		8,090		3.64		884,733		8,462		3.80
Other earning assets	61,070		748		4.87		62,847		716		4.52		65,864		739		4.46
Total earning assets (3)	1,852,958		12,929		2.78		1,847,396		12,238		2.64		1,802,121		12,382		2.73
Cash and due from banks	29,503						27,730						27,590
Other assets, less allowance for loan and lease losses	298,011						293,867						307,840
Total assets	$	2,180,472					$	2,168,993					$	2,137,551

⁽¹⁾  Yields on debt securities excluding the impact of market-related adjustments were 2.47 percent, 2.50 percent and 2.53 percent for the three months ended December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.

⁽²⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

⁽³⁾  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:

	Fourth Quarter 2015				Third Quarter 2015				Fourth Quarter 2014
Federal funds sold and securities borrowed or purchased under agreements to resell		$	7			$	20			$	14
Debt securities		(22		)		(11		)		(11		)
U.S. commercial loans and leases		(17		)		(17		)		(13		)
Net hedge expense on assets		$	(32	)		$	(8	)		$	(10	)

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	Fourth Quarter 2015						Third Quarter 2015						Fourth Quarter 2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	46,094	$	1	0.01	%	$	46,297	$	2	0.02	%	$	45,621	$	1	0.01	%
NOW and money market deposit accounts	558,441		68		0.05		545,741		67		0.05		515,995		76		0.06
Consumer CDs and IRAs	51,107		37		0.29		53,174		38		0.29		61,880		52		0.33
Negotiable CDs, public funds and other deposits	30,546		25		0.32		30,631		26		0.33		30,950		22		0.29
Total U.S. interest-bearing deposits	686,188		131		0.08		675,843		133		0.08		654,446		151		0.09
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	3,997		7		0.69		4,196		7		0.71		5,415		9		0.63
Governments and official institutions	1,687		2		0.37		1,654		1		0.33		1,647		1		0.18
Time, savings and other	55,965		71		0.51		53,793		73		0.53		57,029		76		0.53
Total non-U.S. interest-bearing deposits	61,649		80		0.52		59,643		81		0.54		64,091		86		0.53
Total interest-bearing deposits	747,837		211		0.11		735,486		214		0.12		718,537		237		0.13
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	231,650		519		0.89		257,323		597		0.92		251,432		615		0.97
Trading account liabilities	73,139		272		1.48		77,443		342		1.75		78,174		350		1.78
Long-term debt (1)	237,384		1,895		3.18		240,520		1,343		2.22		249,221		1,315		2.10
Total interest-bearing liabilities (2)	1,290,010		2,897		0.89		1,310,772		2,496		0.76		1,297,364		2,517		0.77
Noninterest-bearing sources:
Noninterest-bearing deposits	438,214						423,745						403,977
Other liabilities	195,123						180,583						192,756
Shareholders' equity	257,125						253,893						243,454
Total liabilities and shareholders' equity	$	2,180,472					$	2,168,993					$	2,137,551
Net interest spread					1.89	%					1.88	%					1.96	%
Impact of noninterest-bearing sources					0.27						0.22						0.22
Net interest income/yield on earning assets			$	10,032	2.16	%			$	9,742	2.10	%			$	9,865	2.18	%

⁽¹⁾  The yield on long-term debt excluding the adjustment on certain trust preferred securities was 2.15 percent for the three months ended December 31, 2015. The yield on long-term debt excluding the adjustment is a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.

⁽²⁾  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 2015				Third Quarter 2015				Fourth Quarter 2014
Consumer CDs and IRAs		$	6			$	5			$	6
Negotiable CDs, public funds and other deposits		3				3				3
Banks located in non-U.S. countries		1				2				2
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		178				232				257
Long-term debt		(869		)		(832		)		(927		)
Net hedge income on liabilities		$	(681	)		$	(590	)		$	(659	)

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
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis
(Dollars in millions)
	2015						2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Interest-bearing deposits with the Federal Reserve, non-U.S. central banks and other banks	$	136,391	$	369	0.27	%	$	113,999	$	308	0.27	%
Time deposits placed and other short-term investments	9,556		147		1.53		11,032		170		1.54
Federal funds sold and securities borrowed or purchased under agreements to resell	211,471		988		0.47		222,483		1,039		0.47
Trading account assets	137,837		4,547		3.30		145,686		4,716		3.24
Debt securities (1)	390,884		9,374		2.41		351,702		8,062		2.28
Loans and leases (2):
Residential mortgage	201,366		6,967		3.46		237,270		8,462		3.57
Home equity	81,070		2,984		3.68		89,705		3,340		3.72
U.S. credit card	88,244		8,085		9.16		88,962		8,313		9.34
Non-U.S. credit card	10,104		1,051		10.40		11,511		1,200		10.42
Direct/Indirect consumer	84,585		2,040		2.41		82,409		2,099		2.55
Other consumer	1,938		56		2.86		2,029		139		6.86
Total consumer	467,307		21,183		4.53		511,886		23,553		4.60
U.S. commercial	248,355		6,883		2.77		230,173		6,630		2.88
Commercial real estate	52,136		1,521		2.92		47,525		1,432		3.01
Commercial lease financing	25,197		799		3.17		24,423		838		3.43
Non-U.S. commercial	89,188		2,008		2.25		89,894		2,196		2.44
Total commercial	414,876		11,211		2.70		392,015		11,096		2.83
Total loans and leases	882,183		32,394		3.67		903,901		34,649		3.83
Other earning assets	62,020		2,890		4.66		66,127		2,811		4.25
Total earning assets (3)	1,830,342		50,709		2.77		1,814,930		51,755		2.85
Cash and due from banks	28,921						27,079
Other assets, less allowance for loan and lease losses	300,878						303,581
Total assets	$	2,160,141					$	2,145,590

⁽¹⁾  Yields on debt securities excluding the impact of market-related adjustments were 2.50 percent and 2.62 percent for 2015 and 2014. Yields on debt securities excluding the impact of market-related adjustments are a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results. 

⁽²⁾  Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is generally recognized on a cost recovery basis. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

⁽³⁾  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:

	2015				2014
Federal funds sold and securities borrowed or purchased under agreements to resell		$	52			$	51
Debt securities		(44		)		(53		)
U.S. commercial loans and leases		(67		)		(56		)
Net hedge expense on assets		$	(59	)		$	(58	)

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
Annual Average Balances and Interest Rates – Fully Taxable-equivalent Basis (continued)
(Dollars in millions)
	2015						2014
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	46,498	$	7	0.01	%	$	46,270	$	3	0.01	%
NOW and money market deposit accounts	543,133		273		0.05		518,893		316		0.06
Consumer CDs and IRAs	54,679		162		0.30		66,797		264		0.40
Negotiable CDs, public funds and other deposits	29,976		95		0.32		31,507		108		0.34
Total U.S. interest-bearing deposits	674,286		537		0.08		663,467		691		0.10
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries	4,473		31		0.70		8,744		61		0.69
Governments and official institutions	1,492		5		0.33		1,740		2		0.14
Time, savings and other	54,767		288		0.53		60,729		326		0.54
Total non-U.S. interest-bearing deposits	60,732		324		0.53		71,213		389		0.55
Total interest-bearing deposits	735,018		861		0.12		734,680		1,080		0.15
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings	246,295		2,387		0.97		257,678		2,578		1.00
Trading account liabilities	76,772		1,343		1.75		87,152		1,576		1.81
Long-term debt (1)	240,059		5,958		2.48		253,607		5,700		2.25
Total interest-bearing liabilities (2)	1,298,144		10,549		0.81		1,333,117		10,934		0.82
Noninterest-bearing sources:
Noninterest-bearing deposits	420,842						389,527
Other liabilities	189,165						184,464
Shareholders' equity	251,990						238,482
Total liabilities and shareholders' equity	$	2,160,141					$	2,145,590
Net interest spread					1.96	%					2.03	%
Impact of noninterest-bearing sources					0.24						0.22
Net interest income/yield on earning assets			$	40,160	2.20	%			$	40,821	2.25	%

⁽¹⁾  The yield on long-term debt excluding the adjustment on certain trust preferred securities was 2.23 percent for 2015. The yield on long-term debt excluding the adjustment is a non-GAAP financial measure. The Corporation believes the use of this non-GAAP financial measure provides additional clarity in assessing its results.

⁽²⁾  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:

	2015				2014
NOW and money market deposit accounts		$	(1	)		$	(1	)
Consumer CDs and IRAs		23				44
Negotiable CDs, public funds and other deposits		13				13
Banks located in non-U.S. countries		5				20
Federal funds purchased, securities loaned or sold under agreements to repurchase and short-term borrowings		906				1,037
Long-term debt		(3,308		)		(3,587		)
Net hedge income on liabilities		$	(2,362	)		$	(2,474	)

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. 14

Bank of America Corporation and Subsidiaries
Debt Securities and Available-for-Sale Marketable Equity Securities
(Dollars in millions)
	December 31, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	229,847	$	788	$	(1,688	)	$	228,947
Agency-collateralized mortgage obligations	10,930		126		(71		)	10,985
Non-agency residential	3,031		218		(70		)	3,179
Commercial	7,176		50		(61		)	7,165
Total mortgage-backed securities	250,984		1,182		(1,890		)	250,276
U.S. Treasury and agency securities	25,075		211		(9		)	25,277
Non-U.S. securities	5,743		27		(3		)	5,767
Corporate/Agency bonds	243		3		(3		)	243
Other taxable securities, substantially all asset-backed securities	10,238		50		(86		)	10,202
Total taxable securities	292,283		1,473		(1,991		)	291,765
Tax-exempt securities	13,978		63		(33		)	14,008
Total available-for-sale debt securities	306,261		1,536		(2,024		)	305,773
Other debt securities carried at fair value	16,678		103		(174		)	16,607
Total debt securities carried at fair value	322,939		1,639		(2,198		)	322,380
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	84,625		271		(850		)	84,046
Total debt securities	$	407,564	$	1,910	$	(3,048	)	$	406,426
Available-for-sale marketable equity securities (1)	$	326	$	99	$	—		$	425
	September 30, 2015
Available-for-sale debt securities
Mortgage-backed securities:
Agency	$	207,057	$	1,854	$	(592	)	$	208,319
Agency-collateralized mortgage obligations	11,836		263		(24		)	12,075
Non-agency residential	3,383		255		(56		)	3,582
Commercial	5,422		115		(7		)	5,530
Total mortgage-backed securities	227,698		2,487		(679		)	229,506
U.S. Treasury and agency securities	39,422		711		(2		)	40,131
Non-U.S. securities	6,356		26		(7		)	6,375
Corporate/Agency bonds	231		4		(1		)	234
Other taxable securities, substantially all asset-backed securities	9,769		18		(37		)	9,750
Total taxable securities	283,476		3,246		(726		)	285,996
Tax-exempt securities	11,685		31		(26		)	11,690
Total available-for-sale debt securities	295,161		3,277		(752		)	297,686
Other debt securities carried at fair value	27,457		161		(226		)	27,392
Total debt securities carried at fair value	322,618		3,438		(978		)	325,078
Held-to-maturity debt securities, substantially all U.S. agency mortgage-backed securities	66,573		495		(588		)	66,480
Total debt securities	$	389,191	$	3,933	$	(1,566	)	$	391,558
Available-for-sale marketable equity securities (1)	$	331	$	24	$	—		$	355

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

Other Debt Securities Carried at Fair Value
(Dollars in millions)	December 31 2015		September 30 2015
Mortgage-backed securities:
Agency	$	—	$	7,944
Agency-collateralized mortgage obligations	7		7
Non-agency residential	3,490		3,635
Total mortgage-backed securities	3,497		11,586
Non-U.S. securities (1)	12,843		15,529
Other taxable securities, substantially all asset-backed securities	267		277
Total	$	16,607	$	27,392

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

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

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

Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
	Fourth Quarter 2015
	Total Corporation			Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	10,032		$	5,059		$	1,412		$	2,435		$	1,166		$	347		$	(387	)
Card income	1,578			1,313			47			139			19			—			60
Service charges	1,862			1,045			18			730			64			—			5
Investment and brokerage services	3,236			66			2,638			21			518			—			(7		)
Investment banking income (loss)	1,272			1			50			729			532			—			(40		)
Equity investment income (loss)	177			39			—			(5		)	109			—			34
Trading account profits (losses)	963			—			44			34			788			(5		)	102
Mortgage banking income (loss)	262			133			1			—			1			250			(123		)
Gains (losses) on sales of debt securities	270			1			—			1			—			(1		)	269
Other income (loss)	107			135			233			269			(69		)	(3		)	(458		)
Total noninterest income	9,727			2,733			3,031			1,918			1,962			241			(158		)
Total revenue, net of interest expense (FTE basis)	19,759			7,792			4,443			4,353			3,128			588			(545		)
Provision for credit losses	810			654			15			233			30			(10		)	(112		)
Noninterest expense	13,871			4,343			3,478			1,938			2,754			1,148			210
Income (loss) before income taxes (FTE basis)	5,078			2,795			950			2,182			344			(550		)	(643		)
Income tax expense (benefit) (FTE basis)	1,742			996			336			804			159			(199		)	(354		)
Net income (loss)	$	3,336		$	1,799		$	614		$	1,378		$	185		$	(351	)	$	(289	)
Average
Total loans and leases	$	891,861		$	211,126		$	135,839		$	320,290		$	68,835		$	27,223		$	128,548
Total assets (1)	2,180,472			620,861			285,214			381,887			589,067			48,995			254,448
Total deposits	1,186,051			557,319			251,306			307,806			37,454			n/m			22,916
Period end
Total loans and leases	$	903,001		$	214,405		$	137,847		$	325,677		$	73,208		$	26,521		$	125,343
Total assets (1)	2,144,316			636,464			296,139			382,043			551,587			47,292			230,791
Total deposits	1,197,259			572,739			260,893			296,162			37,276			n/m			22,898
	Third Quarter 2015
	Total Corporation			Consumer Banking			GWIM			Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,742		$	5,004		$	1,377		$	2,346		$	1,135		$	382		$	(502	)
Card income	1,510			1,248			44			132			18			—			68
Service charges	1,898			1,057			18			746			73			—			4
Investment and brokerage services	3,336			69			2,682			11			574			—			—
Investment banking income (loss)	1,287			(1		)	55			752			521			—			(40		)
Equity investment income (loss)	(31		)	8			(3		)	1			9			—			(46		)
Trading account profits (losses)	1,616			—			43			100			1,462			(1		)	12
Mortgage banking income (loss)	407			206			1			—			—			265			(65		)
Gains on sales of debt securities	385			—			—			—			—			—			385
Other income (loss)	462			241			251			102			(22		)	194			(304		)
Total noninterest income	10,870			2,828			3,091			1,844			2,635			458			14
Total revenue, net of interest expense (FTE basis) (2)	20,612			7,832			4,468			4,190			3,770			840			(488		)
Provision for credit losses	806			648			(2		)	179			42			6			(67		)
Noninterest expense	13,808			4,435			3,446			2,018			2,683			1,142			84
Income (loss) before income taxes (FTE basis)	5,998			2,749			1,024			1,993			1,045			(308		)	(505		)
Income tax expense (benefit) (FTE basis)	1,677			990			368			716			224			(112		)	(509		)
Net income (loss) (2)	$	4,321		$	1,759		$	656		$	1,277		$	821		$	(196	)	$	4
Average
Total loans and leases	$	882,841		$	206,337		$	133,168		$	310,043		$	66,392		$	29,074		$	137,827
Total assets (1)	2,168,993			612,342			274,192			370,246			597,103			50,708			264,402
Total deposits	1,159,231			548,897			243,980			296,321			37,050			n/m			22,603
Period end
Total loans and leases	$	887,689		$	208,981		$	134,630		$	315,224		$	70,159		$	27,982		$	130,713
Total assets (1)	2,153,006			615,121			279,155			372,363			579,776			49,064			257,527
Total deposits	1,162,009			551,541			246,172			297,644			36,019			n/m			21,769

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

⁽²⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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
Quarterly Results by Business Segment (continued)
(Dollars in millions)
	Fourth Quarter 2014
	Total Corporation			Consumer Banking			GWIM		Global Banking			Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	9,865		$	4,967		$	1,406	$	2,415		$	1,036		$	390		$	(349	)
Card income	1,610			1,324			54		123			19			—			90
Service charges	1,844			1,042			19		712			65			—			6
Investment and brokerage services	3,397			66			2,763		17			551			—			—
Investment banking income (loss)	1,541			(1		)	72		830			670			—			(30		)
Equity investment income (loss)	(20		)	—			2		1			15			—			(38		)
Trading account profits (losses)	111			—			39		(9		)	76			—			5
Mortgage banking income (loss)	352			193			1		—			—			241			(83		)
Gains on sales of debt securities	163			2			—		—			—			—			161
Other income (loss)	92			166			247		225			(45		)	7			(508		)
Total noninterest income	9,090			2,792			3,197		1,899			1,351			248			(397		)
Total revenue, net of interest expense (FTE basis)	18,955			7,759			4,603		4,314			2,387			638			(746		)
Provision for credit losses	219			653			14		(31		)	26			(113		)	(330		)
Noninterest expense	14,196			4,419			3,442		1,969			2,522			1,360			484
Income (loss) before income taxes (FTE basis)	4,540			2,687			1,147		2,376			(161		)	(609		)	(900		)
Income tax expense (benefit) (FTE basis)	1,490			1,033			442		856			(86		)	(230		)	(525		)
Net income (loss)	$	3,050		$	1,654		$	705	$	1,520		$	(75	)	$	(379	)	$	(375	)
Average
Total loans and leases	$	884,733		$	199,215		$	123,544	$	287,003		$	58,108		$	33,772		$	183,091
Total assets (1)	2,137,551			582,006			266,717		365,143			611,829			48,577			263,279
Total deposits	1,122,514			517,581			238,835		292,096			40,941			n/m			22,162
Period end
Total loans and leases	$	881,391		$	202,000		$	125,431	$	288,905		$	59,388		$	33,055		$	172,612
Total assets (1)	2,104,534			588,878			274,887		353,637			579,594			45,957			261,581
Total deposits	1,118,936			524,415			245,391		279,792			40,746			n/m			19,240

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in millions)
	Year Ended December 31, 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	40,160	$	19,844		$	5,499	$	9,254	$	4,338		$	1,573		$	(348	)
Card income	5,959		4,934			181		499		82			—			263
Service charges	7,381		4,101			73		2,914		275			—			18
Investment and brokerage services	13,337		268			10,792		64		2,221			—			(8		)
Investment banking income (loss)	5,572		—			261		3,110		2,401			—			(200		)
Equity investment income	261		46			—		8		207			—			—
Trading account profits (losses)	6,473		—			195		218		6,070			(4		)	(6		)
Mortgage banking income (loss)	2,364		883			5		—		1			1,658			(183		)
Gains (losses) on sales of debt securities	1,091		2			—		1		10			(1		)	1,079
Other income (loss)	818		540			995		851		(538		)	204			(1,234		)
Total noninterest income	43,256		10,774			12,502		7,665		10,729			1,857			(271		)
Total revenue, net of interest expense (FTE basis) (1)	83,416		30,618			18,001		16,919		15,067			3,430			(619		)
Provision for credit losses	3,161		2,524			51		685		99			144			(342		)
Noninterest expense	57,192		17,485			13,843		7,888		11,310			4,451			2,215
Income (loss) before income taxes (FTE basis)	23,063		10,609			4,107		8,346		3,658			(1,165		)	(2,492		)
Income tax expense (benefit) (FTE basis)	7,175		3,870			1,498		3,073		1,162			(425		)	(2,003		)
Net income (loss) (1)	$	15,888	$	6,739		$	2,609	$	5,273	$	2,496		$	(740	)	$	(489	)
Average
Total loans and leases	$	882,183	$	204,723		$	131,383	$	305,220	$	63,572		$	29,885		$	147,400
Total assets (2)	2,160,141		609,310			275,866		369,001		596,849			51,222			257,893
Total deposits	1,155,860		545,839			244,725		294,733		38,470			n/m			21,862
Period end
Total loans and leases	$	903,001	$	214,405		$	137,847	$	325,677	$	73,208		$	26,521		$	125,343
Total assets (2)	2,144,316		636,464			296,139		382,043		551,587			47,292			230,791
Total deposits	1,197,259		572,739			260,893		296,162		37,276			n/m			22,898
	Year Ended December 31, 2014
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing			All Other
Net interest income (FTE basis)	$	40,821	$	20,177		$	5,836	$	9,810	$	4,004		$	1,520		$	(526	)
Card income	5,944		4,844			204		456		84			—			356
Service charges	7,443		4,160			76		2,901		281			—			25
Investment and brokerage services	13,284		251			10,722		69		2,205			—			37
Investment banking income (loss)	6,065		(1		)	323		3,213		2,743			—			(213		)
Equity investment income	1,130		1			7		64		331			—			727
Trading account profits	6,309		—			179		125		5,997			7			1
Mortgage banking income (loss)	1,563		813			4		—		1			1,045			(300		)
Gains on sales of debt securities	1,354		17			1		—		10			16			1,310
Other income (loss)	1,203		547			1,052		969		532			88			(1,985		)
Total noninterest income	44,295		10,632			12,568		7,797		12,184			1,156			(42		)
Total revenue, net of interest expense (FTE basis)	85,116		30,809			18,404		17,607		16,188			2,676			(568		)
Provision for credit losses	2,275		2,680			14		322		110			127			(978		)
Noninterest expense	75,117		17,865			13,654		8,170		11,862			20,633			2,933
Income (loss) before income taxes (FTE basis)	7,724		10,264			4,736		9,115		4,216			(18,084		)	(2,523		)
Income tax expense (benefit) (FTE basis)	2,891		3,828			1,767		3,346		1,511			(4,974		)	(2,587		)
Net income (loss)	$	4,833	$	6,436		$	2,969	$	5,769	$	2,705		$	(13,110	)	$	64
Average
Total loans and leases	$	903,901	$	197,115		$	119,775	$	286,484	$	62,073		$	35,941		$	202,513
Total assets (2)	2,145,590		577,238			267,511		362,273		607,623			52,133			278,812
Total deposits	1,124,207		512,820			240,242		288,010		40,813			n/m			30,834
Period end
Total loans and leases	$	881,391	$	202,000		$	125,431	$	288,905	$	59,388		$	33,055		$	172,612
Total assets (2)	2,104,534		588,878			274,887		353,637		579,594			45,957			261,581
Total deposits	1,118,936		524,415			245,391		279,792		40,746			n/m			19,240

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

⁽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. 18

Bank of America Corporation and Subsidiaries
Consumer Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	19,844		$	20,177		$	5,059		$	5,004		$	4,910		$	4,871		$	4,967
Noninterest income:
Card income	4,934			4,844			1,313			1,248			1,206			1,167			1,324
Service charges	4,101			4,160			1,045			1,057			1,033			966			1,042
Mortgage banking income	883			813			133			206			256			288			193
All other income	856			815			242			317			139			158			233
Total noninterest income	10,774			10,632			2,733			2,828			2,634			2,579			2,792
Total revenue, net of interest expense (FTE basis)	30,618			30,809			7,792			7,832			7,544			7,450			7,759
Provision for credit losses	2,524			2,680			654			648			506			716			653
Noninterest expense	17,485			17,865			4,343			4,435			4,318			4,389			4,419
Income before income taxes (FTE basis)	10,609			10,264			2,795			2,749			2,720			2,345			2,687
Income tax expense (FTE basis)	3,870			3,828			996			990			1,014			870			1,033
Net income	$	6,739		$	6,436		$	1,799		$	1,759		$	1,706		$	1,475		$	1,654
Net interest yield (FTE basis)	3.46		%	3.73		%	3.43		%	3.45		%	3.44		%	3.54		%	3.61		%
Return on average allocated capital (1)	23			21			25			24			24			21			22
Efficiency ratio (FTE basis)	57.11			57.99			55.75			56.62			57.24			58.90			56.95
Balance Sheet
Average
Total loans and leases	$	204,723		$	197,115		$	211,126		$	206,337		$	201,703		$	199,581		$	199,215
Total earning assets (2)	573,072			541,097			584,813			576,203			572,261			558,691			545,586
Total assets (2)	609,310			577,238			620,861			612,342			608,921			594,797			582,006
Total deposits	545,839			512,820			557,319			548,897			545,455			531,366			517,581
Allocated capital (1)	29,000			30,000			29,000			29,000			29,000			29,000			30,000
Period end
Total loans and leases	$	214,405		$	202,000		$	214,405		$	208,981		$	204,380		$	200,153		$	202,000
Total earning assets (2)	599,631			551,922			599,631			578,654			575,165			576,745			551,922
Total assets (2)	636,464			588,878			636,464			615,121			611,021			613,030			588,878
Total deposits	572,739			524,415			572,739			551,541			547,347			549,495			524,415

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

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

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Annual Results
(Dollars in millions)
	Year Ended December 31, 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	19,844		$	9,624		$	10,220
Noninterest income:
Card income	4,934			11			4,923
Service charges	4,101			4,100			1
Mortgage banking income	883			—			883
All other income	856			482			374
Total noninterest income	10,774			4,593			6,181
Total revenue, net of interest expense (FTE basis)	30,618			14,217			16,401
Provision for credit losses	2,524			199			2,325
Noninterest expense	17,485			9,792			7,693
Income before income taxes (FTE basis)	10,609			4,226			6,383
Income tax expense (FTE basis)	3,870			1,541			2,329
Net income	$	6,739		$	2,685		$	4,054
Net interest yield (FTE basis)	3.46		%	1.75		%	5.08		%
Return on average allocated capital (1)	23			22			24
Efficiency ratio (FTE basis)	57.11			68.87			46.91
Balance Sheet
Average
Total loans and leases	$	204,723		$	5,829		$	198,894
Total earning assets (2)	573,072			549,686			201,190
Total assets (2)	609,310			576,653			210,461
Total deposits	545,839			544,685			n/m
Allocated capital (1)	29,000			12,000			17,000
Period end
Total loans and leases	$	214,405		$	5,927		$	208,478
Total earning assets (2)	599,631			576,241			210,208
Total assets (2)	636,464			603,580			219,702
Total deposits	572,739			571,467			n/m
	Year Ended December 31, 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	20,177		$	9,436		$	10,741
Noninterest income:
Card income	4,844			10			4,834
Service charges	4,160			4,159			1
Mortgage banking income	813			—			813
All other income	815			418			397
Total noninterest income	10,632			4,587			6,045
Total revenue, net of interest expense (FTE basis)	30,809			14,023			16,786
Provision for credit losses	2,680			268			2,412
Noninterest expense	17,865			9,905			7,960
Income before income taxes (FTE basis)	10,264			3,850			6,414
Income tax expense (FTE basis)	3,828			1,435			2,393
Net income	$	6,436		$	2,415		$	4,021
Net interest yield (FTE basis)	3.73		%	1.83		%	5.54		%
Return on average allocated capital (1)	21			22			21
Efficiency ratio (FTE basis)	57.99			70.63			47.42
Balance Sheet
Average
Total loans and leases	$	197,115		$	6,059		$	191,056
Total earning assets (2)	541,097			516,014			193,923
Total assets (2)	577,238			542,748			203,330
Total deposits	512,820			511,925			n/m
Allocated capital (1)	30,000			11,000			19,000
Period end
Total loans and leases	$	202,000		$	5,951		$	196,049
Total earning assets (2)	551,922			526,849			199,097
Total assets (2)	588,878			554,173			208,729
Total deposits	524,415			523,350			n/m

For footnotes see page 22.

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 Banking Quarterly Results
(Dollars in millions)
	Fourth Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,059		$	2,500		$	2,559
Noninterest income:
Card income	1,313			3			1,310
Service charges	1,045			1,044			1
Mortgage banking income	133			—			133
All other income	242			126			116
Total noninterest income	2,733			1,173			1,560
Total revenue, net of interest expense (FTE basis)	7,792			3,673			4,119
Provision for credit losses	654			54			600
Noninterest expense	4,343			2,487			1,856
Income before income taxes (FTE basis)	2,795			1,132			1,663
Income tax expense (FTE basis)	996			404			592
Net income	$	1,799		$	728		$	1,071
Net interest yield (FTE basis)	3.43		%	1.77		%	4.91		%
Return on average allocated capital (1)	25			24			25
Efficiency ratio (FTE basis)	55.75			67.73			45.07
Balance Sheet
Average
Total loans and leases	$	211,126		$	5,835		$	205,291
Total earning assets (2)	584,813			561,266			207,062
Total assets (2)	620,861			588,097			216,279
Total deposits	557,319			556,063			n/m
Allocated capital (1)	29,000			12,000			17,000
Period end
Total loans and leases	$	214,405		$	5,927		$	208,478
Total earning assets (2)	599,631			576,241			210,208
Total assets (2)	636,464			603,580			219,702
Total deposits	572,739			571,467			n/m
	Third Quarter 2015
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	5,004		$	2,438		$	2,566
Noninterest income:
Card income	1,248			2			1,246
Service charges	1,057			1,057			—
Mortgage banking income	206			—			206
All other income	317			133			184
Total noninterest income	2,828			1,192			1,636
Total revenue, net of interest expense (FTE basis)	7,832			3,630			4,202
Provision for credit losses	648			58			590
Noninterest expense	4,435			2,486			1,949
Income before income taxes (FTE basis)	2,749			1,086			1,663
Income tax expense (FTE basis)	990			391			599
Net income	$	1,759		$	695		$	1,064
Net interest yield (FTE basis)	3.45		%	1.75		%	5.01		%
Return on average allocated capital (1)	24			23			25
Efficiency ratio (FTE basis)	56.62			68.48			46.37
Balance Sheet
Average
Total loans and leases	$	206,337		$	5,813		$	200,524
Total earning assets (2)	576,203			552,616			203,013
Total assets (2)	612,342			579,684			212,084
Total deposits	548,897			547,728			n/m
Allocated capital (1)	29,000			12,000			17,000
Period end
Total loans and leases	$	208,981		$	5,820		$	203,161
Total earning assets (2)	578,654			555,210			205,415
Total assets (2)	615,121			582,164			214,928
Total deposits	551,541			550,240			n/m

For footnotes see page 22.

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Quarterly Results (continued)
(Dollars in millions)
	Fourth Quarter 2014
	Total Consumer Banking			Deposits			Consumer Lending
Net interest income (FTE basis)	$	4,967		$	2,313		$	2,654
Noninterest income:
Card income	1,324			2			1,322
Service charges	1,042			1,042			—
Mortgage banking income	193			—			193
All other income	233			120			113
Total noninterest income	2,792			1,164			1,628
Total revenue, net of interest expense (FTE basis)	7,759			3,477			4,282
Provision for credit losses	653			61			592
Noninterest expense	4,419			2,499			1,920
Income before income taxes (FTE basis)	2,687			917			1,770
Income tax expense (FTE basis)	1,033			355			678
Net income	$	1,654		$	562		$	1,092
Net interest yield (FTE basis)	3.61		%	1.76		%	5.38		%
Return on average allocated capital (1)	22			20			23
Efficiency ratio (FTE basis)	56.95			71.85			44.84
Balance Sheet
Average
Total loans and leases	$	199,215		$	5,966		$	193,249
Total earning assets (2)	545,586			520,320			195,788
Total assets (2)	582,006			547,248			205,280
Total deposits	517,581			516,481			n/m
Allocated capital (1)	30,000			11,000			19,000
Period end
Total loans and leases	$	202,000		$	5,951		$	196,049
Total earning assets (2)	551,922			526,849			199,097
Total assets (2)	588,878			554,173			208,729
Total deposits	524,415			523,350			n/m

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Consumer Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Average deposit balances
Checking	$	259,602		$	236,140		$	267,475		$	261,469		$	259,007		$	250,248		$	241,254
Savings	44,878			44,616			44,518			44,721			45,748			44,525			43,972
MMS	188,536			168,493			195,756			191,358			186,750			180,078			172,992
CDs and IRAs	50,085			60,766			46,791			48,644			51,178			53,820			56,476
Non-U.S. and other	2,738			2,805			2,779			2,705			2,772			2,695			2,887
Total average deposit balances	$	545,839		$	512,820		$	557,319		$	548,897		$	545,455		$	531,366		$	517,581
Deposit spreads (excludes noninterest costs)
Checking	2.03		%	2.08		%	2.02		%	2.03		%	2.04		%	2.03		%	2.08		%
Savings	2.30			2.31			2.29			2.29			2.29			2.31			2.32
MMS	1.23			1.18			1.24			1.23			1.22			1.23			1.21
CDs and IRAs	0.60			0.50			0.69			0.62			0.58			0.54			0.52
Non-U.S. and other	0.47			0.46			0.54			0.48			0.44			0.42			0.40
Total deposit spreads	1.63			1.60			1.65			1.64			1.63			1.62			1.63
Client brokerage assets	$	122,721		$	113,763		$	122,721		$	117,210		$	121,961		$	118,492		$	113,763
Online banking active accounts (units in thousands)	31,674			30,904			31,674			31,627			31,365			31,523			30,904
Mobile banking active users (units in thousands) (1)	18,705			16,539			18,705			18,398			17,626			17,092			16,539
Financial centers	4,726			4,855			4,726			4,741			4,789			4,835			4,855
ATMs	16,038			15,834			16,038			16,062			15,992			15,903			15,834
Total U.S. credit card(2)
Loans
Average credit card outstandings	$	88,244		$	88,962		$	88,623		$	88,201		$	87,460		$	88,695		$	89,381
Ending credit card outstandings	89,602			91,879			89,602			88,339			88,403			87,288			91,879
Credit quality
Net charge-offs	$	2,314		$	2,638		$	563		$	546		$	584		$	621		$	612
	2.62		%	2.96		%	2.52		%	2.46		%	2.68		%	2.84		%	2.71		%
30+ delinquency	$	1,575		$	1,701		$	1,575		$	1,514		$	1,486		$	1,581		$	1,701
	1.76		%	1.85		%	1.76		%	1.71		%	1.68		%	1.81		%	1.85		%
90+ delinquency	$	789		$	866		$	789		$	721		$	742		$	795		$	866
	0.88		%	0.94		%	0.88		%	0.82		%	0.84		%	0.91		%	0.94		%
Other Total U.S. credit card indicators (2)
Gross interest yield	9.16		%	9.34		%	9.15		%	9.15		%	9.08		%	9.27		%	9.26		%
Risk adjusted margin	9.33			9.44			9.81			9.54			8.92			9.05			9.96
New accounts (in thousands)	4,973			4,541			1,260			1,257			1,295			1,161			1,184
Purchase volumes	$	221,378		$	212,088		$	58,752		$	56,472		$	55,976		$	50,178		$	55,857
Debit card data
Purchase volumes	$	277,695		$	272,576		$	70,755		$	69,288		$	70,754		$	66,898		$	69,204

For footnotes see page 24.

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
Consumer Banking Key Indicators (continued)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Loan production (3):
Total (4)
First mortgage	$	56,930		$	43,290		$	13,543		$	13,712		$	15,962		$	13,713		$	11,616
Home equity	13,060			11,233			3,494			3,140			3,209			3,217			3,420
Consumer Banking
First mortgage	$	40,878		$	32,339		$	9,733		$	10,026		$	11,265		$	9,854		$	8,316
Home equity	11,988			10,286			3,192			2,840			2,939			3,017			3,129
Mortgage banking income
Consumer Lending:
Core production revenue	$	942		$	875		$	148		$	221		$	273		$	300		$	214
Representations and warranties provision	11			10			2			2			1			6			(4		)
Other consumer mortgage banking income (5)	(70		)	(72		)	(17		)	(17		)	(18		)	(18		)	(17		)
Total Consumer Lending mortgage banking income	883			813			133			206			256			288			193
Legacy Assets & Servicing mortgage banking income (6)	1,658			1,045			250			265			682			461			241
Eliminations (7)	(177		)	(295		)	(121		)	(64		)	63			(55		)	(82		)
Total consolidated mortgage banking income	$	2,364		$	1,563		$	262		$	407		$	1,001		$	694		$	352

⁽¹⁾  Beginning in the first quarter of 2015, mobile users include Merrill Edge and MyMerrill users of approximately 150 thousand.

⁽²⁾  In addition to the U.S. credit card portfolio in Consumer Banking, the remaining U.S. credit card portfolio is in GWIM.

⁽³⁾  The above loan production amounts represent the unpaid principal balance of loans and in the case of home equity, the principal amount of the total line of credit.

⁽⁴⁾  In addition to loan production in Consumer Banking, there is also first mortgage and home equity loan production in GWIM.

⁽⁵⁾  Primarily intercompany charge for loan servicing activities provided by Legacy Assets & Servicing.

⁽⁶⁾  Amounts for Legacy Assets & Servicing are included in this Consumer Banking table to show the components of consolidated mortgage banking income.

⁽⁷⁾  Includes the effect of transfers of mortgage loans from Consumer Banking to the ALM portfolio included in All Other,intercompany charges for loan servicing and net gains or losses on intercompany trades related to mortgage servicing rights risk management.

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. 24

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	5,499		$	5,836		$	1,412		$	1,377		$	1,359		$	1,351		$	1,406
Noninterest income:
Investment and brokerage services	10,792			10,722			2,638			2,682			2,749			2,723			2,763
All other income	1,710			1,846			393			409			465			443			434
Total noninterest income	12,502			12,568			3,031			3,091			3,214			3,166			3,197
Total revenue, net of interest expense (FTE basis)	18,001			18,404			4,443			4,468			4,573			4,517			4,603
Provision for credit losses	51			14			15			(2		)	15			23			14
Noninterest expense	13,843			13,654			3,478			3,446			3,459			3,460			3,442
Income before income taxes	4,107			4,736			950			1,024			1,099			1,034			1,147
Income tax expense (FTE basis)	1,498			1,767			336			368			410			384			442
Net income	$	2,609		$	2,969		$	614		$	656		$	689		$	650		$	705
Net interest yield (FTE basis)	2.12		%	2.34		%	2.08		%	2.12		%	2.17		%	2.13		%	2.24		%
Return on average allocated capital (1)	22			25			20			22			23			22			23
Efficiency ratio (FTE basis)	76.90			74.19			78.27			77.14			75.64			76.61			74.80
Balance sheet
Average
Total loans and leases	$	131,383		$	119,775		$	135,839		$	133,168		$	130,270		$	126,129		$	123,544
Total earning assets (2)	258,935			248,979			269,135			257,344			251,528			257,625			248,614
Total assets (2)	275,866			267,511			285,214			274,192			268,835			275,130			266,717
Total deposits	244,725			240,242			251,306			243,980			239,974			243,561			238,835
Allocated capital (1)	12,000			12,000			12,000			12,000			12,000			12,000			12,000
Period end
Total loans and leases	$	137,847		$	125,431		$	137,847		$	134,630		$	132,377		$	127,556		$	125,431
Total earning assets (2)	279,465			256,519			279,465			262,870			250,720			255,840			256,519
Total assets (2)	296,139			274,887			296,139			279,155			267,021			272,777			274,887
Total deposits	260,893			245,391			260,893			246,172			237,624			244,080			245,391

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

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

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

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

Bank of America Corporation and Subsidiaries
Global Wealth & Investment Management Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31					Fourth Quarter 2015		Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Revenue by Business
Merrill Lynch Global Wealth Management	$	14,898		$	15,256	$	3,664	$	3,694		$	3,792		$	3,748		$	3,827
U.S. Trust	3,027			3,084		756		756			764			751			759
Other (1)	76			64		23		18			17			18			17
Total revenue, net of interest expense (FTE basis)	$	18,001		$	18,404	$	4,443	$	4,468		$	4,573		$	4,517		$	4,603
Client Balances by Business, at period end
Merrill Lynch Global Wealth Management	$	1,985,309		$	2,033,801	$	1,985,309	$	1,942,623		$	2,051,514		$	2,043,447		$	2,033,801
U.S. Trust	388,604			387,491		388,604		375,751			388,829			391,105			387,491
Other (1)	82,929			76,705		82,929		78,110			81,318			75,295			76,705
Total client balances	$	2,456,842		$	2,497,997	$	2,456,842	$	2,396,484		$	2,521,661		$	2,509,847		$	2,497,997
Client Balances by Type, at period end
Long-term assets under management (2)	$	817,938		$	826,171	$	817,938	$	798,887		$	849,046		$	841,966		$	826,171
Liquidity assets under management (3)	82,925			76,701		82,925		78,106			81,314			75,291			76,701
Assets under management	900,863			902,872		900,863		876,993			930,360			917,257			902,872
Brokerage assets	1,040,938			1,081,434		1,040,938		1,026,355			1,079,084			1,076,277			1,081,434
Assets in custody	113,239			139,555		113,239		109,196			138,774			141,273			139,555
Deposits	260,892			245,391		260,892		246,172			237,624			244,080			245,391
Loans and leases (4)	140,910			128,745		140,910		137,768			135,819			130,960			128,745
Total client balances	$	2,456,842		$	2,497,997	$	2,456,842	$	2,396,484		$	2,521,661		$	2,509,847		$	2,497,997
Assets Under Management Rollforward
Assets under management, beginning balance	$	902,872		$	821,449	$	876,993	$	930,360		$	917,257		$	902,872		$	888,006
Net long-term client flows	34,441			49,800		6,746		4,448			8,593			14,654			9,380
Net liquidity client flows	6,133			3,361		4,813		(3,210		)	6,023			(1,493		)	(255		)
Market valuation/other	(42,583		)	28,262		12,311		(54,605		)	(1,513		)	1,224			5,741
Total assets under management, ending balance	$	900,863		$	902,872	$	900,863	$	876,993		$	930,360		$	917,257		$	902,872
Associates, at period end(5)
Number of financial advisors	16,724			16,035		16,724		16,605			16,419			16,175			16,035
Total wealth advisors	18,167			17,231		18,167		18,037			17,798			17,508			17,231
Total client-facing professionals	20,632			19,750		20,632		20,535			20,312			20,018			19,750
Merrill Lynch Global Wealth Management Metric
Financial advisor productivity (6) (in thousands)	$	1,019		$	1,065	$	992	$	1,000		$	1,041		$	1,041		$	1,070
U.S. Trust Metric, at period end
Client-facing professionals	2,181			2,155		2,181		2,178			2,155			2,157			2,155

⁽¹⁾  Includes the results of BofA Global Capital Management, the cash management division of Bank of America, and certain administrative items.

⁽²⁾  Defined as assets under advisory and discretion of GWIM in which the duration of the investment strategy is longer than one year.

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

⁽⁴⁾  Includes margin receivables which are classified in customer and other receivables on the Consolidated Balance Sheet.

⁽⁵⁾  Includes financial advisors in the Consumer Banking segmentof 2,191, 2,042, 2,049, 1,992 and 1,950 at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

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

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

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

Bank of America Corporation and Subsidiaries
Global Banking Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	9,254		$	9,810		$	2,435		$	2,346		$	2,213		$	2,260		$	2,415
Noninterest income:
Service charges	2,914			2,901			730			746			728			710			712
Investment banking fees	3,110			3,213			729			752			777			852			830
All other income	1,641			1,683			459			346			388			448			357
Total noninterest income	7,665			7,797			1,918			1,844			1,893			2,010			1,899
Total revenue, net of interest expense (FTE basis)	16,919			17,607			4,353			4,190			4,106			4,270			4,314
Provision for credit losses	685			322			233			179			177			96			(31		)
Noninterest expense	7,888			8,170			1,938			2,018			1,932			2,000			1,969
Income before income taxes (FTE basis)	8,346			9,115			2,182			1,993			1,997			2,174			2,376
Income tax expense (FTE basis)	3,073			3,346			804			716			746			807			856
Net income	$	5,273		$	5,769		$	1,378		$	1,277		$	1,251		$	1,367		$	1,520
Net interest yield (FTE basis)	2.85		%	3.10		%	2.86		%	2.86		%	2.80		%	2.89		%	2.99		%
Return on average allocated capital (1)	15			17			16			14			14			16			18
Efficiency ratio (FTE basis)	46.62			46.40			44.47			48.17			47.06			46.86			45.63
Balance Sheet
Average
Total loans and leases	$	305,220		$	286,484		$	320,290		$	310,043		$	300,631		$	289,522		$	287,003
Total earning assets (2)	324,402			316,880			337,762			325,740			316,912			316,949			320,341
Total assets (2)	369,001			362,273			381,887			370,246			361,867			361,771			365,143
Total deposits	294,733			288,010			307,806			296,321			288,117			286,434			292,096
Allocated capital (1)	35,000			33,500			35,000			35,000			35,000			35,000			33,500
Period end
Total loans and leases	$	325,677		$	288,905		$	325,677		$	315,224		$	307,085		$	295,653		$	288,905
Total earning assets (2)	336,755			308,419			336,755			327,313			322,977			318,775			308,419
Total assets (2)	382,043			353,637			382,043			372,363			367,052			365,024			353,637
Total deposits	296,162			279,792			296,162			297,644			292,261			290,422			279,792

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

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

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

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

Bank of America Corporation and Subsidiaries
Global Banking Key Indicators
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Investment Banking fees (1)
Advisory (2)	$	1,354		$	1,098		$	355		$	365		$	247		$	387		$	316
Debt issuance	1,296			1,532			265			325			371			335			379
Equity issuance	460			583			109			62			159			130			135
Total Investment Banking fees (3)	$	3,110		$	3,213		$	729		$	752		$	777		$	852		$	830
Business Lending
Corporate	$	3,291		$	3,420		$	878		$	816		$	708		$	889		$	800
Commercial	3,974			3,942			1,074			984			1,004			912			991
Business Banking	342			363			79			89			87			87			92
Total Business Lending revenue	$	7,607		$	7,725		$	2,031		$	1,889		$	1,799		$	1,888		$	1,883
Global Transaction Services
Corporate	$	2,802		$	2,992		$	723		$	715		$	706		$	658		$	746
Commercial	2,633			2,854			679			673			636			645			700
Business Banking	702			715			185			181			170			166			184
Total Global Transaction Services revenue	$	6,137		$	6,561		$	1,587		$	1,569		$	1,512		$	1,469		$	1,630
Average deposit balances
Interest-bearing	$	65,667		$	78,929		$	66,227		$	64,960		$	65,504		$	65,982		$	71,148
Noninterest-bearing	229,066			209,081			241,579			231,361			222,613			220,452			220,948
Total average deposits	$	294,733		$	288,010		$	307,806		$	296,321		$	288,117		$	286,434		$	292,096
Loan spread	1.62		%	1.73		%	1.60		%	1.61		%	1.60		%	1.68		%	1.69		%
Provision for credit losses	$	685		$	322		$	233		$	179		$	177		$	96		$	(31	)
Credit quality (4, 5)
Reservable utilized criticized exposure	$	15,009		$	9,662		$	15,009		$	11,786		$	11,411		$	10,471		$	9,662
	4.28		%	3.07		%	4.28		%	3.46		%	3.44		%	3.28		%	3.07		%
Nonperforming loans, leases and foreclosed properties	$	935		$	892		$	935		$	899		$	1,179		$	979		$	892
	0.29		%	0.31		%	0.29		%	0.29		%	0.38		%	0.33		%	0.31		%
Average loans and leases by product
U.S. commercial	$	165,438		$	151,772		$	175,111		$	167,692		$	162,580		$	156,137		$	153,256
Commercial real estate	45,435			43,194			48,521			46,904			44,066			42,163			41,445
Commercial lease financing	26,212			25,205			27,172			26,486			25,728			25,442			25,105
Non-U.S. commercial	68,119			66,295			69,471			68,947			68,242			65,763			67,178
Other	16			18			15			14			15			17			19
Total average loans and leases	$	305,220		$	286,484		$	320,290		$	310,043		$	300,631		$	289,522		$	287,003
Total Corporation Investment Banking fees
Advisory (2)	$	1,503		$	1,205		$	408		$	391		$	276		$	428		$	340
Debt issuance	3,033			3,583			617			748			887			781			883
Equity issuance	1,236			1,490			286			188			417			345			348
Total investment banking fees including self-led deals	5,772			6,278			1,311			1,327			1,580			1,554			1,571
Self-led deals	(200		)	(213		)	(39		)	(40		)	(54		)	(67		)	(30		)
Total Investment Banking fees	$	5,572		$	6,065		$	1,272		$	1,287		$	1,526		$	1,487		$	1,541

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

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

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

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

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

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

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

Bank of America Corporation and Subsidiaries
Investment Banking Product Rankings
	Year Ended December 31, 2015
	Global			U.S.
	Product Ranking	Market Share		Product Ranking	Market Share
Net investment banking revenue	3	6.3	%	3	9.2	%
Announced mergers and acquisitions	4	22.8		4	26.9
Equity capital markets	4	5.9		5	9.5
Debt capital markets	2	6.2		2	10.5
High-yield corporate debt	3	8.1		2	9.8
Leveraged loans	2	8.5		2	11.3
Mortgage-backed securities	3	9.5		4	10.2
Asset-backed securities	2	9.0		2	12.8
Convertible debt	2	8.4		2	14.6
Common stock underwriting	5	5.6		7	8.7
Investment-grade corporate debt	2	6.4		2	12.3
Syndicated loans	2	8.2		2	11.7

Source: Dealogic data as of January 5, 2016. 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 either side of the transaction.

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

Highlights

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

Top 3 rankings excluding self-led deals:

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

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

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

Bank of America Corporation and Subsidiaries
Global Markets Segment Results
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	4,338		$	4,004		$	1,166		$	1,135		$	1,028		$	1,009		$	1,036
Noninterest income:
Investment and brokerage services	2,221			2,205			518			574			556			573			551
Investment banking fees	2,401			2,743			532			521			718			630			670
Trading account profits	6,070			5,997			788			1,462			1,693			2,127			76
All other income	37			1,239			124			78			(28		)	(137		)	54
Total noninterest income	10,729			12,184			1,962			2,635			2,939			3,193			1,351
Total revenue, net of interest expense (FTE basis) (1, 2)	15,067			16,188			3,128			3,770			3,967			4,202			2,387
Provision for credit losses	99			110			30			42			6			21			26
Noninterest expense	11,310			11,862			2,754			2,683			2,733			3,140			2,522
Income (loss) before income taxes	3,658			4,216			344			1,045			1,228			1,041			(161		)
Income tax expense (benefit) (FTE basis)	1,162			1,511			159			224			422			357			(86		)
Net income (loss) (2)	$	2,496		$	2,705		$	185		$	821		$	806		$	684		$	(75	)
Return on average allocated capital (3)	7		%	8		%	2		%	9		%	9		%	8		%	n/m
Efficiency ratio (FTE basis)	75.06			73.28			88.04			71.17			68.87			74.74			105.63		%
Balance Sheet
Average
Total trading-related assets (4)	$	433,435		$	449,815		$	416,130		$	431,477		$	442,509		$	443,951		$	455,536
Total loans and leases	63,572			62,073			68,835			66,392			61,908			56,992			58,108
Total earning assets (4)	433,372			461,189			422,694			439,859			436,081			434,916			451,937
Total assets	596,849			607,623			589,067			597,103			602,735			598,594			611,829
Total deposits	38,470			40,813			37,454			37,050			39,718			39,699			40,941
Allocated capital (3)	35,000			34,000			35,000			35,000			35,000			35,000			34,000
Period end
Total trading-related assets (4)	$	374,081		$	418,860		$	374,081		$	407,493		$	406,404		$	424,996		$	418,860
Total loans and leases	73,208			59,388			73,208			70,159			66,026			63,019			59,388
Total earning assets (4)	386,857			421,799			386,857			421,909			408,857			421,520			421,799
Total assets	551,587			579,594			551,587			579,776			580,953			586,843			579,594
Total deposits	37,276			40,746			37,276			36,019			39,326			38,668			40,746
Trading-related assets (average)
Trading account securities	$	195,731		$	201,956		$	195,399		$	196,884		$	197,116		$	193,491		$	201,868
Reverse repurchases	103,690			116,085			86,703			103,422			109,626			115,328			118,286
Securities borrowed	79,494			85,098			82,385			75,786			81,091			78,713			81,071
Derivative assets	54,520			46,676			51,643			55,385			54,676			56,419			54,311
Total trading-related assets (4)	$	433,435		$	449,815		$	416,130		$	431,477		$	442,509		$	443,951		$	455,536

⁽¹⁾  Substantially all of Global Markets total revenue is sales and trading revenue and investment banking fees, with a small portion related to certain revenue sharing agreements with other business segments. For additional sales and trading revenue information, see page 31.

⁽²⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

⁽³⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

⁽⁴⁾  Trading-related assets include derivative assets, which are considered non-earning assets.

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries
Global Markets Key Indicators
(Dollars in millions)
	Year Ended December 31				Fourth Quarter 2015		Third Quarter 2015		Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015		2014
Sales and trading revenue (1)
Fixed income, currency and commodities	$	7,923	$	8,752	$	1,574	$	2,027	$	1,958		$	2,364		$	888
Equities	4,335		4,194		874		1,148		1,176			1,137			860
Total sales and trading revenue	$	12,258	$	12,946	$	2,448	$	3,175	$	3,134		$	3,501		$	1,748
Sales and trading revenue, excluding debit valuation adjustment and funding valuation adjustment(2, 3)
Fixed income, currency and commodities	$	8,686	$	9,060	$	1,764	$	2,009	$	2,157		$	2,756		$	1,465
Equities	4,358		4,126		882		1,154		1,176			1,146			909
Total sales and trading revenue, excluding debit valuation adjustment and funding valuation adjustment	$	13,044	$	13,186	$	2,646	$	3,163	$	3,333		$	3,902		$	2,374
Sales and trading revenue breakdown
Net interest income	$	3,945	$	3,638	$	1,062	$	1,039	$	924		$	920		$	942
Commissions	2,196		2,186		511		568		550			567			546
Trading	6,059		5,992		796		1,462		1,676			2,125			72
Other	58		1,130		79		106		(16		)	(111		)	188
Total sales and trading revenue	$	12,258	$	12,946	$	2,448	$	3,175	$	3,134		$	3,501		$	1,748

⁽¹⁾  Includes Global Banking sales and trading revenue of $422 million and $382 million for the years ended December 31, 2015 and 2014; $127 million, $86 million, $133 million and $76 million for the fourth, third, second and first quarters of 2015, respectively, and $163 million for the fourth quarter of 2014.

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

⁽³⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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
Legacy Assets & Servicing Segment Results
(Dollars in millions, except as noted)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	1,573		$	1,520		$	347		$	382		$	416		$	428		$	390
Noninterest income:
Mortgage banking income	1,658			1,045			250			265			682			461			241
All other income (loss)	199			111			(9		)	193			(10		)	25			7
Total noninterest income	1,857			1,156			241			458			672			486			248
Total revenue, net of interest expense (FTE basis)	3,430			2,676			588			840			1,088			914			638
Provision for credit losses	144			127			(10		)	6			57			91			(113		)
Noninterest expense	4,451			20,633			1,148			1,142			960			1,201			1,360
Income (loss) before income taxes (FTE basis)	(1,165		)	(18,084		)	(550		)	(308		)	71			(378		)	(609		)
Income tax expense (benefit) (FTE basis)	(425		)	(4,974		)	(199		)	(112		)	26			(140		)	(230		)
Net income (loss)	$	(740	)	$	(13,110	)	$	(351	)	$	(196	)	$	45		$	(238	)	$	(379	)
Net interest yield (FTE basis)	3.82		%	4.04		%	3.48		%	3.68		%	3.94		%	4.19		%	4.22		%
Return on average allocated capital (1)	n/m			n/m			n/m			n/m			1			n/m			n/m
Efficiency ratio (FTE basis)	n/m			n/m			n/m			n/m			88.27			n/m			n/m
Balance Sheet
Average
Total loans and leases	$	29,885		$	35,941		$	27,223		$	29,074		$	30,897		$	32,411		$	33,772
Total earning assets (2)	41,160			37,593			39,686			41,168			42,337			41,468			36,601
Total assets (2)	51,222			52,133			48,995			50,708			52,518			52,713			48,577
Allocated capital (1)	24,000			17,000			24,000			24,000			24,000			24,000			17,000
Period end
Total loans and leases	$	26,521		$	33,055		$	26,521		$	27,982		$	30,024		$	31,690		$	33,055
Total earning assets (2)	37,783			33,923			37,783			40,171			40,874			42,672			33,923
Total assets (2)	47,292			45,957			47,292			49,064			50,928			53,620			45,957
Period end (in billions)
Mortgage servicing portfolio (3)	$	565.0		$	693.0		$	565.0		$	580.0		$	610.0		$	669.0		$	693.0

⁽¹⁾  Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return are non-GAAP financial measures. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 45-48.)

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

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

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

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

Bank of America Corporation and Subsidiaries
Legacy Assets & Servicing Key Indicators
(Dollars in millions, except as noted)
	Year Ended December 31								Fourth Quarter 2015				Third Quarter 2015				Second Quarter 2015				First Quarter 2015				Fourth Quarter 2014
	2015				2014
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	3,271			$	5,042			$	2,699			$	3,201			$	3,108			$	3,271			$	3,986
Net additions	33				275				49				53				(174		)		105				73
Amortization of expected cash flows (1)	(738		)		(818		)		(174		)		(179		)		(187		)		(198		)		(198		)
Other changes in mortgage servicing rights fair value (2)	114				(1,228		)		106				(376		)		454				(70		)		(590		)
Balance, end of period (3)	$	2,680			$	3,271			$	2,680			$	2,699			$	3,201			$	3,108			$	3,271
Capitalized mortgage servicing rights (% of loans serviced for investors)	71			bps	69			bps	71			bps	69			bps	78			bps	68			bps	69			bps
Mortgage loans serviced for investors (in billions)	$	378			$	474			$	378			$	391			$	409			$	459			$	474
Mortgage banking income
Servicing income:
Servicing fees	$	1,520			$	1,957			$	353			$	345			$	392			$	430			$	461
Amortization of expected cash flows (1)	(738		)		(818		)		(174		)		(179		)		(187		)		(198		)		(198		)
Fair value changes of mortgage servicing rights, net of risk management activities used to hedge certain market risks (4)	516				294				(9		)		82				193				250				142
Total net servicing income	1,298				1,433				170				248				398				482				405
Representations and warranties provision	28				(693		)		(9		)		(77		)		204				(90		)		(246		)
Other mortgage banking income (5)	332				305				89				94				80				69				82
Total Legacy Assets & Servicing mortgage banking income	$	1,658			$	1,045			$	250			$	265			$	682			$	461			$	241

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

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

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

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

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

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

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

Bank of America Corporation and Subsidiaries
All Other Results (1)
(Dollars in millions)
	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Net interest income (FTE basis)	$	(348	)	$	(526	)	$	(387	)	$	(502	)	$	790		$	(249	)	$	(349	)
Noninterest income:
Card income	263			356			60			68			66			69			90
Equity investment income (loss)	—			727			34			(46		)	11			1			(38		)
Gains on sales of debt securities	1,079			1,310			269			385			162			263			161
All other loss	(1,613		)	(2,435		)	(521		)	(393		)	(263		)	(436		)	(610		)
Total noninterest income	(271		)	(42		)	(158		)	14			(24		)	(103		)	(397		)
Total revenue, net of interest expense (FTE basis)	(619		)	(568		)	(545		)	(488		)	766			(352		)	(746		)
Provision for credit losses	(342		)	(978		)	(112		)	(67		)	19			(182		)	(330		)
Noninterest expense	2,215			2,933			210			84			416			1,505			484
Income (loss) before income taxes (FTE basis)	(2,492		)	(2,523		)	(643		)	(505		)	331			(1,675		)	(900		)
Income tax benefit (FTE basis)	(2,003		)	(2,587		)	(354		)	(509		)	(306		)	(834		)	(525		)
Net income (loss)	$	(489	)	$	64		$	(289	)	$	4		$	637		$	(841	)	$	(375	)
Balance Sheet
Average
Total loans and leases	$	147,400		$	202,513		$	128,548		$	137,827		$	156,006		$	167,758		$	183,091
Total assets (2)	257,893			278,812			254,448			264,402			257,090			255,569			263,279
Total deposits	21,862			30,834			22,916			22,603			22,481			19,405			22,162
Period end
Total loans and leases	$	125,343		$	172,612		$	125,343		$	130,713		$	146,557		$	159,885		$	172,612
Total equity investments	4,297			4,871			4,297			4,364			4,655			4,701			4,871
Total assets (3)	230,791			261,581			230,791			257,527			272,059			252,251			261,581
Total deposits	22,898			19,240			22,898			21,769			22,960			19,461			19,240

⁽¹⁾  All Other consists of ALM activities, equity investments, the international consumer card business, liquidating businesses, residual expense allocations and other. ALM activities encompass certain residential mortgages, debt securities, interest rate and foreign currency risk management activities including the residual net interest income allocation, the impact of certain allocation methodologies and accounting hedge ineffectiveness. Beginning with new originations in 2014, we retain certain residential mortgages in Consumer Banking, consistent with where the overall relationship is managed; previously such mortgages were in All Other. Additionally, certain residential mortgage loans that are managed by Legacy Assets & Servicing are held in All Other. The results of certain ALM activities are allocated to our business segments. Equity investments include our merchant services joint venture as well as Global Principal Investments which is comprised of a portfolio of equity, real estate and other alternative investments.

⁽²⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $499.4 billion and $480.3 billion for the years ended December 31, 2015 and 2014; $508.6 billion, $494.3 billion, $493.0 billion, $501.7 billion and $483.1 billion for the fourth, third, second and first quarters of 2015, and the fourth quarter of 2014, respectively.

⁽³⁾  Includes elimination of segments' excess asset allocations to match liabilities (i.e., deposits) and allocated shareholders' equity of $518.8 billion, $493.7 billion, $488.4 billion, $512.5 billion and $474.6 billion at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

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

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

Bank of America Corporation and Subsidiaries
Outstanding Loans and Leases
(Dollars in millions)
	December 31 2015		September 30 2015		December 31 2014
Consumer
Residential mortgage (1)	$	187,911	$	187,939	$	216,197
Home equity	75,948		78,030		85,725
U.S. credit card	89,602		88,339		91,879
Non-U.S. credit card	9,975		10,066		10,465
Direct/Indirect consumer (2)	88,795		87,314		80,381
Other consumer (3)	2,067		2,012		1,846
Total consumer loans excluding loans accounted for under the fair value option	454,298		453,700		486,493
Consumer loans accounted for under the fair value option (4)	1,871		1,944		2,077
Total consumer	456,169		455,644		488,570
Commercial
U.S. commercial (5)	265,850		257,032		233,586
Commercial real estate (6)	57,199		55,629		47,682
Commercial lease financing	27,370		25,680		24,866
Non-U.S. commercial	91,549		88,470		80,083
Total commercial loans excluding loans accounted for under the fair value option	441,968		426,811		386,217
Commercial loans accounted for under the fair value option (4)	4,864		5,234		6,604
Total commercial	446,832		432,045		392,821
Total loans and leases	$	903,001	$	887,689	$	881,391

⁽¹⁾  Includes pay option loans of $2.3 billion, $2.4 billion and $3.2 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. The Corporation no longer originates pay option loans.

⁽²⁾  Includes auto and specialty lending loans of $42.6 billion, $41.7 billion and $37.7 billion, unsecured consumer lending loans of $886 million, $999 million and $1.5 billion, U.S. securities-based lending loans of $39.8 billion, $39.2 billion and $35.8 billion, non-U.S. consumer loans of $3.9 billion, $3.9 billion and $4.0 billion, student loans of $564 million, $581 million and $632 million and other consumer loans of $1.0 billion, $834 million and $761 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽³⁾  Includes consumer finance loans of $564 million, $591 million and $676 million, consumer leases of $1.4 billion, $1.2 billion and $1.0 billion and consumer overdrafts of $146 million, $189 million and $162 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁴⁾  Consumer loans accounted for under the fair value option were residential mortgage loans of $1.6 billion, $1.7 billion and $1.9 billion and home equity loans of $250 million, $225 million and $196 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Commercial loans accounted for under the fair value option were U.S. commercial loans of $2.1 billion, $2.2 billion and $1.9 billion and non-U.S. commercial loans of $2.8 billion, $3.0 billion and $4.7 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁵⁾  Includes U.S. small business commercial loans, including card-related products, of $12.9 billion, $13.1 billion and $13.3 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁶⁾  Includes U.S. commercial real estate loans of $53.6 billion, $51.8 billion and $45.2 billion and non-U.S. commercial real estate loans of $3.5 billion, $3.8 billion and $2.5 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Average Loans and Leases by Business Segment
(Dollars in millions)
	Fourth Quarter 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	189,650	$	21,156		$	55,604	$	5	$	—		$	831	$	112,054
Home equity	77,109		43,035			5,500		4		235			26,380		1,955
U.S. credit card	88,623		85,602			3,020		—		—			—		1
Non-U.S. credit card	10,155		—			—		—		—			—		10,155
Direct/Indirect consumer	87,858		43,129			44,147		4		—			—		578
Other consumer	2,039		1,453			6		2		—			—		578
Total consumer	455,434		194,375			108,277		15		235			27,211		125,321
Commercial
U.S. commercial	261,727		16,729			25,114		175,111		40,326			12		4,435
Commercial real estate	56,126		23			2,222		48,521		5,228			—		132
Commercial lease financing	26,127		—			3		27,172		297			—		(1,345		)
Non-U.S. commercial	92,447		(1		)	223		69,471		22,749			—		5
Total commercial	436,427		16,751			27,562		320,275		68,600			12		3,227
Total loans and leases	$	891,861	$	211,126		$	135,839	$	320,290	$	68,835		$	27,223	$	128,548
	Third Quarter 2015
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	193,791	$	17,465		$	54,277	$	5	$	—		$	865	$	121,179
Home equity	79,715		43,688			5,689		4		209			28,190		1,935
U.S. credit card	88,201		85,163			3,038		—		—			—		—
Non-U.S. credit card	10,244		—			—		—		—			—		10,244
Direct/Indirect consumer	85,975		41,860			43,469		4		(13		)	—		655
Other consumer	1,980		1,367			5		1		(1		)	1		607
Total consumer	459,906		189,543			106,478		14		195			29,056		134,620
Commercial
U.S. commercial	251,908		16,772			24,343		167,692		38,649			18		4,434
Commercial real estate	53,605		22			2,110		46,904		4,427			—		142
Commercial lease financing	25,425		—			4		26,486		311			—		(1,376		)
Non-U.S. commercial	91,997		—			233		68,947		22,810			—		7
Total commercial	422,935		16,794			26,690		310,029		66,197			18		3,207
Total loans and leases	$	882,841	$	206,337		$	133,168	$	310,043	$	66,392		$	29,074	$	137,827
	Fourth Quarter 2014
	Total Corporation		Consumer Banking			GWIM		Global Banking		Global Markets			Legacy Assets & Servicing		All  Other
Consumer
Residential mortgage	$	223,132	$	9,307		$	50,537	$	7	$	—		$	931	$	162,350
Home equity	86,825		45,804			6,276		6		189			32,813		1,737
U.S. credit card	89,381		86,193			3,188		—		—			—		—
Non-U.S. credit card	10,950		—			—		—		—			—		10,950
Direct/Indirect consumer	83,121		39,541			39,694		5		14			—		3,867
Other consumer	2,031		1,112			8		1		—			—		910
Total consumer	495,440		181,957			99,703		19		203			33,744		179,814
Commercial
U.S. commercial	231,215		17,228			21,823		153,256		34,427			28		4,453
Commercial real estate	46,996		30			1,875		41,445		3,446			—		200
Commercial lease financing	24,238		—			4		25,105		552			—		(1,423		)
Non-U.S. commercial	86,844		—			139		67,178		19,480			—		47
Total commercial	389,293		17,258			23,841		286,984		57,905			28		3,277
Total loans and leases	$	884,733	$	199,215		$	123,544	$	287,003	$	58,108		$	33,772	$	183,091

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. 36

Bank of America Corporation and Subsidiaries
Commercial Credit Exposure by Industry (1, 2, 3)
(Dollars in millions)
	Commercial Utilized						Total Commercial Committed
	December 31 2015		September 30 2015		December 31 2014		December 31 2015			September 30 2015			December 31 2014
Diversified financials	$	79,496	$	75,761	$	63,306	$	128,436		$	119,248		$	103,528
Real estate (4)	61,759		60,927		53,834		87,650			82,983			76,153
Retailing	37,675		38,080		33,683		63,975			63,931			58,043
Capital goods	30,790		31,985		29,028		58,583			58,400			54,653
Healthcare equipment and services	35,134		33,478		32,923		57,901			56,728			52,450
Banking	45,952		44,302		42,330		53,825			51,638			48,353
Government and public education	44,835		43,969		42,095		53,133			51,425			49,937
Materials	24,012		23,753		23,664		46,013			45,943			45,821
Energy	21,257		21,779		23,830		43,811			46,089			47,667
Food, beverage and tobacco	18,316		17,867		16,131		43,164			35,221			34,465
Consumer services	24,084		23,091		21,657		37,058			36,215			33,269
Commercial services and supplies	19,552		18,550		17,997		32,045			32,056			30,451
Utilities	11,396		11,071		9,399		27,849			26,751			25,235
Transportation	19,369		18,997		17,538		27,371			27,491			24,541
Technology hardware and equipment	6,337		6,957		5,489		24,734			14,798			12,350
Media	12,833		12,667		11,128		24,194			23,993			21,502
Individuals and trusts	17,992		17,467		16,749		23,176			22,538			21,195
Software and services	6,617		7,566		5,927		18,362			18,287			14,071
Pharmaceuticals and biotechnology	6,302		5,448		5,707		16,472			16,715			13,493
Automobiles and components	4,804		4,108		4,114		11,329			10,492			9,683
Consumer durables and apparel	6,053		5,907		6,111		11,165			10,657			10,613
Insurance, including monolines	5,095		4,587		5,204		10,728			10,611			11,252
Telecommunication services	4,717		4,373		3,814		10,645			9,953			9,295
Food and staples retailing	4,351		3,917		3,848		9,439			7,410			7,418
Religious and social organizations	4,526		4,718		4,881		5,929			6,269			6,548
Other	6,309		7,631		6,255		15,510			16,286			10,415
Total commercial credit exposure by industry	$	559,563	$	548,956	$	506,642	$	942,497		$	902,128		$	832,401
Net credit default protection purchased on total commitments (5)							$	(6,677	)	$	(6,494	)	$	(7,302	)

⁽¹⁾  Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers' acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are carried at fair value, reflect the effects of legally enforceable master netting agreements and have been reduced by the amount of cash collateral applied of $41.9 billion, $46.2 billion and $47.3 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $23.3 billion, $24.1 billion and $23.8 billion which consists primarily of other marketable securities at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽²⁾  Total commercial utilized and total commercial committed exposures include loans and letters of credit accounted for under the fair value option and are comprised of loans outstanding of $4.9 billion, $5.2 billion and $6.6 billion and issued letters of credit at notional value of $290 million, $240 million and $535 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $10.6 billion, $7.7 billion and $9.4 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

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

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

⁽⁵⁾  Represents net notional credit protection purchased.

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

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

Bank of America Corporation and Subsidiaries
Net Credit Default Protection by Maturity Profile (1)
	December 31 2015		September 30 2015
Less than or equal to one year	39	%	33	%
Greater than one year and less than or equal to five years	59		62
Greater than five years	2		5
Total net credit default protection	100	%	100	%

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

Net Credit Default Protection by Credit Exposure Debt Rating (1)
(Dollars in millions)
	December 31, 2015					September 30, 2015
Ratings (2, 3)	Net Notional (4)			Percent of Total		Net Notional (4)			Percent of Total
A	$	(752	)	11.3	%	$	(959	)	14.8	%
BBB	(3,030		)	45.4		(2,368		)	36.5
BB	(2,090		)	31.3		(2,196		)	33.8
B	(634		)	9.5		(872		)	13.4
CCC and below	(139		)	2.1		(76		)	1.2
NR (5)	(32		)	0.4		(23		)	0.3
Total net credit default protection	$	(6,677	)	100.0	%	$	(6,494	)	100.0	%

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

⁽²⁾  Ratings are refreshed on a quarterly basis.

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

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

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

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

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

Bank of America Corporation and Subsidiaries
Top 20 Non-U.S. Countries Exposure
(Dollars in millions)
	Funded Loans and Loan Equivalents (1)		Unfunded Loan Commitments		Net Counterparty Exposure (2)		Securities/ Other Investments (3)		Country Exposure at December 31 2015		Hedges and Credit Default Protection (4)			Net Country Exposure at December 31 2015 (5)		Increase (Decrease) from September 30 2015
United Kingdom	$	30,268	$	15,086	$	8,923	$	4,194	$	58,471	$	(5,225	)	$	53,246	$	1,692
Brazil	9,981		401		902		4,593		15,877		(227		)	15,650		487
Canada	5,522		6,695		2,279		2,097		16,593		(1,861		)	14,732		(3,498		)
Japan	13,381		532		1,145		718		15,776		(1,412		)	14,364		(616		)
Germany	7,373		6,389		2,604		1,991		18,357		(4,953		)	13,404		840
China	9,207		627		739		748		11,321		(847		)	10,474		(877		)
India	7,045		238		363		2,880		10,526		(172		)	10,354		(1,279		)
Australia	5,061		2,390		705		1,737		9,893		(348		)	9,545		1,523
France	2,822		4,795		1,392		3,816		12,825		(4,139		)	8,686		(2,014		)
Netherlands	3,329		3,283		879		1,631		9,122		(1,488		)	7,634		(526		)
Hong Kong	5,850		273		788		701		7,612		(23		)	7,589		(2,196		)
South Korea	4,351		749		674		1,751		7,525		(667		)	6,858		(859		)
Switzerland	3,337		2,947		707		650		7,641		(1,378		)	6,263		428
Belgium	648		4,749		149		185		5,731		(263		)	5,468		3,998
Italy	2,933		1,062		1,544		1,563		7,102		(1,794		)	5,308		120
Mexico	2,708		1,327		141		1,209		5,385		(331		)	5,054		641
Singapore	2,297		167		481		1,843		4,788		(59		)	4,729		507
Turkey	2,996		172		30		49		3,247		(107		)	3,140		(48		)
Spain	1,847		677		231		940		3,695		(632		)	3,063		(339		)
United Arab Emirates	2,008		56		1,027		37		3,128		(102		)	3,026		36
Total top 20 non-U.S. countries exposure	$	122,964	$	52,615	$	25,703	$	33,333	$	234,615	$	(26,028	)	$	208,587	$	(1,980	)

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

⁽²⁾  Net counterparty exposure includes the fair value of derivatives, including the counterparty risk associated with credit default swaps, and secured financing transactions. Derivative exposures are presented net of $31.6 billion in collateral, which is predominantly cash, pledged under legally enforceable master netting agreements. Secured financing transaction exposures are presented net of eligible cash or securities pledged as collateral. The notional amount of reverse repurchase transactions was $93.8 billion. Counterparty exposure is not presented net of hedges or credit default protection.

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

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

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

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

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties
(Dollars in millions)
	December 31 2015			September 30 2015			June 30 2015			March 31 2015			December 31 2014
Residential mortgage	$	4,803		$	5,242		$	5,985		$	6,421		$	6,889
Home equity	3,337			3,429			3,563			3,759			3,901
Direct/Indirect consumer	24			25			26			28			28
Other consumer	1			1			1			1			1
Total consumer	8,165			8,697			9,575			10,209			10,819
U.S. commercial	867			836			869			680			701
Commercial real estate	93			108			126			132			321
Commercial lease financing	12			17			19			16			3
Non-U.S. commercial	158			56			80			79			1
	1,130			1,017			1,094			907			1,026
U.S. small business commercial	82			85			78			89			87
Total commercial	1,212			1,102			1,172			996			1,113
Total nonperforming loans and leases	9,377			9,799			10,747			11,205			11,932
Foreclosed properties (1)	459			537			818			896			697
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	9,836		$	10,336		$	11,565		$	12,101		$	12,629
Fully-insured home loans past due 30 days or more and still accruing	$	9,855		$	10,467		$	11,871		$	12,743		$	14,617
Consumer credit card past due 30 days or more and still accruing	1,721			1,662			1,650			1,749			1,884
Other loans past due 30 days or more and still accruing	3,627			3,419			3,429			3,532			3,953
Total loans past due 30 days or more and still accruing (3, 5, 6)	$	15,203		$	15,548		$	16,950		$	18,024		$	20,454
Fully-insured home loans past due 90 days or more and still accruing	$	7,150		$	7,616		$	8,917		$	9,912		$	11,407
Consumer credit card past due 90 days or more and still accruing	865			799			828			883			961
Other loans past due 90 days or more and still accruing	237			203			195			173			286
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	8,252		$	8,618		$	9,940		$	10,968		$	12,654
Nonperforming loans, leases and foreclosed properties/Total assets (7)	0.46		%	0.48		%	0.54		%	0.57		%	0.60		%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)	1.10			1.17			1.31			1.39			1.45
Nonperforming loans and leases/Total loans and leases (7)	1.05			1.11			1.22			1.29			1.37
Commercial utilized reservable criticized exposure (8)	$	16,508		$	13,571		$	13,312		$	12,303		$	11,570
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (8)	3.46		%	2.94		%	2.97		%	2.85		%	2.74		%
Total commercial utilized criticized exposure/Commercial utilized exposure (8)	3.28			2.93			3.08			2.99			2.97

⁽¹⁾  Foreclosed property balances do not include properties insured by certain government-guaranteed loans, principally FHA-insured loans, that entered foreclosure of $1.4 billion, $1.3 billion, $1.3 billion, $1.2 billion and $1.1 billion at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

⁽²⁾  Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate.

⁽³⁾  Balances do not include purchased credit-impaired loans even though the customer may be contractually past due. Purchased credit-impaired loans were recorded at fair value upon acquisition and accrete interest income over the remaining life of the loan.

(4) Balances do not include the following:	December 31 2015		September 30 2015		June 30 2015		March 31 2015		December 31 2014
Nonperforming loans held-for-sale	$	227	$	274	$	298	$	344	$	219
Nonperforming loans accounted for under the fair value option	306		321		339		380		392
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010	38		49		72		86		102

⁽⁵⁾  Balances do not include loans held-for-sale past due 30 days or more and still accruing of $24 million, $73 million, $42 million, $125 million and $475 million at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively, and loans held-for-sale past due 90 days or more and still accruing of $0, $0, $0, $44 million and $249 million at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively. At December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, there were $127 million, $142 million, $141 million, $132 million and $147 million, respectively, of loans accounted for under the fair value option past due 30 days or more and still accruing interest.

⁽⁶⁾  These balances are excluded from total nonperforming loans, leases and foreclosed properties.

⁽⁷⁾  Total assets and total loans and leases do not include loans accounted for under the fair value option of $6.7 billion, $7.2 billion, $7.6 billion, $8.5 billion and $8.7 billion at December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

⁽⁸⁾  Criticized exposure corresponds to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The reservable criticized exposure excludes loans held-for-sale, exposure accounted for under the fair value option and other nonreservable exposure.

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

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

Bank of America Corporation and Subsidiaries
Nonperforming Loans, Leases and Foreclosed Properties Activity (1)
(Dollars in millions)
	Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
Nonperforming Consumer Loans and Leases:
Balance, beginning of period	$	8,697		$	9,575		$	10,209		$	10,819		$	12,188
Additions to nonperforming loans and leases:
New nonperforming loans and leases	1,027			1,029			1,424			1,469			1,709
Reductions to nonperforming loans and leases:
Paydowns and payoffs	(214		)	(262		)	(289		)	(253		)	(310		)
Sales	(314		)	(447		)	(542		)	(371		)	(1,347		)
Returns to performing status (2)	(490		)	(722		)	(631		)	(867		)	(728		)
Charge-offs (3)	(450		)	(375		)	(484		)	(460		)	(533		)
Transfers to foreclosed properties	(91		)	(101		)	(112		)	(128		)	(160		)
Total net reductions to nonperforming loans and leases	(532		)	(878		)	(634		)	(610		)	(1,369		)
Total nonperforming consumer loans and leases, end of period	8,165			8,697			9,575			10,209			10,819
Foreclosed properties	444			479			553			632			630
Nonperforming consumer loans, leases and foreclosed properties, end of period	$	8,609		$	9,176		$	10,128		$	10,841		$	11,449
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	1,102		$	1,172		$	996		$	1,113		$	1,352
Additions to nonperforming loans and leases:
New nonperforming loans and leases	456			205			419			287			214
Advances	8			11			15			2			6
Reductions to nonperforming loans and leases:
Paydowns	(133		)	(145		)	(103		)	(110		)	(202		)
Sales	(27		)	—			(65		)	(16		)	(81		)
Return to performing status (5)	(32		)	(47		)	(27		)	(24		)	(77		)
Charge-offs	(162		)	(93		)	(56		)	(51		)	(95		)
Transfers to foreclosed properties	—			(1		)	(7		)	(205		)	(4		)
Total net additions (reductions) to nonperforming loans and leases	110			(70		)	176			(117		)	(239		)
Total nonperforming commercial loans and leases, end of period	1,212			1,102			1,172			996			1,113
Foreclosed properties	15			58			265			264			67
Nonperforming commercial loans, leases and foreclosed properties, end of period	$	1,227		$	1,160		$	1,437		$	1,260		$	1,180

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

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

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

⁽⁵⁾  Commercial loans and leases may be returned to performing status when all principal and interest is current and full repayment of the remaining contractual principal and interest is expected, or when the loan otherwise becomes well-secured and is in the process of collection. Troubled debt restructurings are generally classified as performing after a sustained period of demonstrated payment performance.

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

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

Bank of America Corporation and Subsidiaries
Quarterly Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	Fourth Quarter 2015				Third Quarter 2015					Second Quarter 2015					First Quarter 2015					Fourth Quarter 2014
Net Charge-offs	Amount		Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage (3)	$	73	0.15	%	$	26		0.05	%	$	177		0.35	%	$	197		0.37	%	$	(259	)	(0.46	)%
Home equity	193		0.99		120			0.60		151			0.73		172			0.82		277			1.27
U.S. credit card	563		2.52		546			2.46		584			2.68		621			2.84		612			2.71
Non-U.S. credit card	46		1.78		47			1.83		51			2.03		44			1.80		52			1.90
Direct/Indirect consumer	29		0.13		25			0.12		24			0.11		34			0.17		44			0.21
Other consumer	54		10.63		57			11.21		33			7.00		49			10.88		68			13.31
Total consumer	958		0.84		821			0.71		1,020			0.87		1,117			0.95		794			0.64
U.S. commercial (4)	81		0.13		52			0.09		(1		)	—		7			0.01		19			0.04
Commercial real estate	4		0.03		(10		)	(0.08	)	(4		)	(0.03	)	5			0.04		(8		)	(0.07	)
Commercial lease financing	1		0.02		3			0.06		—			—		5			0.09		1			0.02
Non-U.S. commercial	45		0.20		9			0.04		2			0.01		(2		)	(0.01	)	2			0.01
	131		0.12		54			0.05		(3		)	—		15			0.02		14			0.02
U.S. small business commercial	55		1.68		57			1.72		51			1.56		62			1.90		71			2.10
Total commercial	186		0.17		111			0.11		48			0.05		77			0.08		85			0.09
Total net charge-offs	$	1,144	0.51		$	932		0.42		$	1,068		0.49		$	1,194		0.56		$	879		0.40
By Business Segment
Consumer Banking	$	753	1.41	%	$	715		1.37	%	$	726		1.44	%	$	806		1.64	%	$	832		1.66	%
Global Wealth & Investment Management	20		0.06		17			0.05		17			0.05		18			0.06		36			0.12
Global Banking	137		0.17		53			0.07		(2		)	—		6			0.01		2			—
Legacy Assets & Servicing	122		1.82		74			1.05		99			1.32		122			1.56		199			2.40
All Other	112		0.35		73			0.21		228			0.59		242			0.59		(190		)	(0.41	)
Total net charge-offs	$	1,144	0.51		$	932		0.42		$	1,068		0.49		$	1,194		0.56		$	879		0.40

⁽¹⁾  Net charge-off ratios are calculated as annualized net charge-offs divided by average outstanding loans and leases excluding loans accounted for under the fair value option during the period for each loan and lease category. Excluding the purchased credit-impaired loan portfolio, total annualized net charge-offs as a percentage of total average loans and leases outstanding were 0.52, 0.43, 0.50, 0.57 and 0.41 for the three months ended December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $82 million, $148 million, $290 million, $288 million and $13 million for the three months ended December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively. Including the write-offs of purchased credit-impaired loans, total annualized net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.55, 0.49, 0.62, 0.70 and 0.40 for the three months ended December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

⁽³⁾  Includes nonperforming loan sales recoveries and other recoveries of $8 million, $57 million, $22 million, $40 million and $314 million for the three months ended December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014, respectively.

⁽⁴⁾  Excludes U.S. small business commercial loans.

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

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

Bank of America Corporation and Subsidiaries
Annual Net Charge-offs and Net Charge-off Ratios (1, 2)
(Dollars in millions)
	Year Ended December 31
	2015					2014
Net Charge-offs	Amount			Percent		Amount			Percent
Residential mortgage (3)	$	473		0.24	%	$	(114	)	(0.05	)%
Home equity	636			0.79		907			1.01
U.S. credit card	2,314			2.62		2,638			2.96
Non-U.S. credit card	188			1.86		242			2.10
Direct/Indirect consumer	112			0.13		169			0.20
Other consumer	193			9.96		229			11.27
Total consumer	3,916			0.84		4,071			0.80
U.S. commercial (4)	139			0.06		88			0.04
Commercial real estate	(5		)	(0.01	)	(83		)	(0.18	)
Commercial lease financing	9			0.04		(9		)	(0.04	)
Non-U.S. commercial	54			0.06		34			0.04
	197			0.05		30			0.01
U.S. small business commercial	225			1.71		282			2.10
Total commercial	422			0.10		312			0.08
Total net charge-offs	$	4,338		0.50		$	4,383		0.49
By Business Segment
Consumer Banking	$	3,000		1.47	%	$	3,497		1.77	%
Global Wealth & Investment Management	72			0.06		71			0.06
Global Banking	194			0.06		31			0.01
Global Markets	—			—		2			—
Legacy Assets & Servicing	417			1.44		627			1.79
All Other	655			0.45		155			0.08
Total net charge-offs	$	4,338		0.50		$	4,383		0.49

⁽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. Excluding the purchased credit-impaired loan portfolio, total net charge-offs as a percentage of total average loans and leases outstanding were 0.51 and 0.50 for the years ended December 31, 2015 and 2014.

⁽²⁾  Excludes write-offs of purchased credit-impaired loans of $808 million and $810 million for the years ended December 31, 2015 and 2014. Including the write-offs of purchased credit-impaired loans, total net charge-offs and purchased credit-impaired write-offs as a percentage of total average loans and leases outstanding were 0.59 and 0.58 for the years ended December 31, 2015 and 2014.

⁽³⁾  Includes nonperforming loan sales recoveries and other recoveries of $127 million and $538 million for the years ended December 31, 2015 and 2014.

⁽⁴⁾  Excludes U.S. small business commercial loans.

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

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

Bank of America Corporation and Subsidiaries
Allocation of the Allowance for Credit Losses by Product Type
(Dollars in millions)
	December 31, 2015						September 30, 2015						December 31, 2014
Allowance for loan and lease losses	Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)		Amount		Percent of Total		Percent of Loans and Leases Outstanding (1, 2)
Residential mortgage	$	1,500	12.26	%	0.80	%	$	1,755	13.87	%	0.93	%	$	2,900	20.11	%	1.34	%
Home equity	2,414		19.73		3.18		2,645		20.90		3.39		3,035		21.05		3.54
U.S. credit card	2,927		23.93		3.27		2,973		23.49		3.37		3,320		23.03		3.61
Non-U.S.credit card	274		2.24		2.75		299		2.36		2.97		369		2.56		3.53
Direct/Indirect consumer	223		1.82		0.25		234		1.85		0.27		299		2.07		0.37
Other consumer	47		0.38		2.27		46		0.36		2.33		59		0.41		3.15
Total consumer	7,385		60.36		1.63		7,952		62.83		1.75		9,982		69.23		2.05
U.S. commercial (3)	2,964		24.23		1.11		2,749		21.72		1.07		2,619		18.16		1.12
Commercial real estate	967		7.90		1.69		1,084		8.56		1.95		1,016		7.05		2.13
Commercial lease financing	164		1.34		0.60		160		1.26		0.62		153		1.06		0.62
Non-U.S.commercial	754		6.17		0.82		712		5.63		0.80		649		4.50		0.81
Total commercial (4)	4,849		39.64		1.10		4,705		37.17		1.10		4,437		30.77		1.15
Allowance for loan and lease losses	12,234		100.00	%	1.37		12,657		100.00	%	1.44		14,419		100.00	%	1.65
Reserve for unfunded lending commitments	646						661						528
Allowance for credit losses	$	12,880					$	13,318					$	14,947
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (2)			1.37	%					1.44	%					1.65	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) (2, 5)			1.30						1.36						1.50
Allowance for loan and lease losses/Total nonperforming loans and leases (6)			130						129						121
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (5)			122						120						107
Ratio of the allowance for loan and lease losses/Annualized net charge-offs (7)			2.70						3.42						4.14
Ratio of the allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Annualized net charge-offs (5, 7)			2.52						3.18						3.66
Ratio of the allowance for loan and lease losses/Annualized net charge-offs and purchased credit-impaired write-offs			2.52						2.95						4.08

⁽¹⁾  Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option. Consumer loans accounted for under the fair value option included residential mortgage loans of $1.6 billion, $1.7 billion and $1.9 billion and home equity loans of $250 million, $225 million and $196 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Commercial loans accounted for under the fair value option included U.S. commercial loans of $2.1 billion, $2.2 billion and $1.9 billion and non-U.S. commercial loans of $2.8 billion, $3.0 billion and $4.7 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽²⁾  Total loans and leases do not include loans accounted for under the fair value option of $6.7 billion, $7.2 billion and $8.7 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽³⁾  Includes allowance for loan and lease losses for U.S. small business commercial loans of $507 million, $520 million and $536 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁴⁾  Includes allowance for loan and lease losses for impaired commercial loans of $217 million, $154 million and $159 million at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁵⁾  Excludes valuation allowance on purchased credit-impaired loans of $804 million, $886 million and $1.7 billion at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁶⁾  Allowance for loan and lease losses includes $4.5 billion, $4.7 billion and $5.9 billion allocated to products (primarily the Consumer Lending portfolios within Consumer Banking and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 82 percent, 81 percent and 71 percent at December 31, 2015, September 30, 2015 and December 31, 2014, respectively.

⁽⁷⁾  Net charge-offs exclude $82 million, $148 million and $13 million of write-offs in the purchased credit-impaired loan portfolio at December 31, 2015, September 30, 2015 and December 31, 2014, respectively. These write-offs decreased the purchased credit-impaired valuation allowance included as part of the allowance for loan and lease losses.

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

This information is preliminary and based on company data available at the time of the presentation. 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. For purposes of this calculation, the Corporation uses the federal statutory tax rate of 35 percent. This measure ensures comparability of net interest income arising from taxable and tax-exempt sources. The efficiency ratio measures the costs expended to generate a dollar of revenue, and net interest yield measures the basis points the Corporation earns over the cost of funds.

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

In addition, the Corporation periodically reviews capital allocated to its businesses and allocates capital annually during the strategic and capital planning processes. We utilize a methodology that considers the effect of regulatory capital requirements in addition to internal risk-based capital models. The Corporation's internal risk-based capital models use a risk-adjusted methodology incorporating each segment's credit, market, interest rate, business and operational risk components. Return on average allocated capital is calculated as net income, adjusted for cost of funds and earnings credits and certain expenses related to intangibles, divided by average allocated capital. Allocated capital and the related return both represent non-GAAP financial measures. Allocated capital is reviewed periodically and refinements are made based on multiple considerations that include, but are not limited to, risk-weighted assets measured under Basel 3 Standardized and Advanced approaches, business segment exposures and risk profile, and strategic plans. As part of this process, in 2015, the Corporation adjusted the amount of capital being allocated to its business segments, primarily Legacy Assets & Servicing.

See the tables below and on pages 46-48 for reconciliations of these non-GAAP financial measures to financial measures defined by GAAP for the years ended December 31, 2015 and 2014, and the three months ended December 31, 2015, September 30, 2015, June 30, 2015, March 31, 2015 and December 31, 2014. The Corporation believes the use of these non-GAAP financial measures provides additional clarity in assessing the results of the Corporation. Other companies may define or calculate supplemental financial data differently.

	Year Ended December 31						Fourth Quarter 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	39,251		$	39,952		$	9,801		$	9,511		$	10,488		$	9,451		$	9,635
Fully taxable-equivalent adjustment	909			869			231			231			228			219			230
Net interest income on a fully taxable-equivalent basis	$	40,160		$	40,821		$	10,032		$	9,742		$	10,716		$	9,670		$	9,865
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 (1)	$	82,507		$	84,247		$	19,528		$	20,381		$	21,816		$	20,782		$	18,725
Fully taxable-equivalent adjustment	909			869			231			231			228			219			230
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	83,416		$	85,116		$	19,759		$	20,612		$	22,044		$	21,001		$	18,955
Reconciliation of income tax expense to income tax expense on a fully taxable-equivalent basis
Income tax expense (1)	$	6,266		$	2,022		$	1,511		$	1,446		$	2,084		$	1,225		$	1,260
Fully taxable-equivalent adjustment	909			869			231			231			228			219			230
Income tax expense on a fully taxable-equivalent basis	$	7,175		$	2,891		$	1,742		$	1,677		$	2,312		$	1,444		$	1,490
Reconciliation of average common shareholders' equity to average tangible common shareholders' equity
Common shareholders' equity	$	230,182		$	223,072		$	234,851		$	231,620		$	228,780		$	225,357		$	224,479
Goodwill	(69,772		)	(69,809		)	(69,761		)	(69,774		)	(69,775		)	(69,776		)	(69,782		)
Intangible assets (excluding mortgage servicing rights)	(4,201		)	(5,109		)	(3,888		)	(4,099		)	(4,307		)	(4,518		)	(4,747		)
Related deferred tax liabilities	1,852			2,090			1,753			1,811			1,885			1,959			2,019
Tangible common shareholders' equity	$	158,061		$	150,244		$	162,955		$	159,558		$	156,583		$	153,022		$	151,969
Reconciliation of average shareholders' equity to average tangible shareholders' equity
Shareholders' equity	$	251,990		$	238,482		$	257,125		$	253,893		$	251,054		$	245,744		$	243,454
Goodwill	(69,772		)	(69,809		)	(69,761		)	(69,774		)	(69,775		)	(69,776		)	(69,782		)
Intangible assets (excluding mortgage servicing rights)	(4,201		)	(5,109		)	(3,888		)	(4,099		)	(4,307		)	(4,518		)	(4,747		)
Related deferred tax liabilities	1,852			2,090			1,753			1,811			1,885			1,959			2,019
Tangible shareholders' equity	$	179,869		$	165,654		$	185,229		$	181,831		$	178,857		$	173,409		$	170,944

⁽¹⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of period-end common shareholders' equity to period-end tangible common shareholders' equity
Common shareholders' equity	$	233,932		$	224,162		$	233,932		$	233,632		$	229,386		$	227,915		$	224,162
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,813			1,900			1,960
Tangible common shareholders' equity	$	162,119		$	151,733		$	162,119		$	161,660		$	157,236		$	155,648		$	151,733
Reconciliation of period-end shareholders' equity to period-end tangible shareholders' equity
Shareholders' equity	$	256,205		$	243,471		$	256,205		$	255,905		$	251,659		$	250,188		$	243,471
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,813			1,900			1,960
Tangible shareholders' equity	$	184,392		$	171,042		$	184,392		$	183,933		$	179,509		$	177,921		$	171,042
Reconciliation of period-end assets to period-end tangible assets
Assets	$	2,144,316		$	2,104,534		$	2,144,316		$	2,153,006		$	2,149,034		$	2,143,545		$	2,104,534
Goodwill	(69,761		)	(69,777		)	(69,761		)	(69,761		)	(69,775		)	(69,776		)	(69,777		)
Intangible assets (excluding mortgage servicing rights)	(3,768		)	(4,612		)	(3,768		)	(3,973		)	(4,188		)	(4,391		)	(4,612		)
Related deferred tax liabilities	1,716			1,960			1,716			1,762			1,813			1,900			1,960
Tangible assets	$	2,072,503		$	2,032,105		$	2,072,503		$	2,081,034		$	2,076,884		$	2,071,278		$	2,032,105

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 2015			Third Quarter 2015			Second Quarter 2015			First Quarter 2015			Fourth Quarter 2014
	2015			2014
Reconciliation of return on average allocated capital(1)
Consumer Banking
Reported net income	$	6,739		$	6,436		$	1,799		$	1,759		$	1,706		$	1,475		$	1,654
Adjustment related to intangibles (2)	4			4			1			1			1			1			1
Adjusted net income	$	6,743		$	6,440		$	1,800		$	1,760		$	1,707		$	1,476		$	1,655
Average allocated equity (3)	$	59,319		$	60,398		$	59,296		$	59,305		$	59,331		$	59,348		$	60,367
Adjustment related to goodwill and a percentage of intangibles	(30,319		)	(30,398		)	(30,296		)	(30,305		)	(30,331		)	(30,348		)	(30,367		)
Average allocated capital	$	29,000		$	30,000		$	29,000		$	29,000		$	29,000		$	29,000		$	30,000
Global Wealth & Investment Management
Reported net income	$	2,609		$	2,969		$	614		$	656		$	689		$	650		$	705
Adjustment related to intangibles (2)	11			13			2			3			3			3			3
Adjusted net income	$	2,620		$	2,982		$	616		$	659		$	692		$	653		$	708
Average allocated equity (3)	$	22,130		$	22,214		$	22,115		$	22,132		$	22,106		$	22,168		$	22,186
Adjustment related to goodwill and a percentage of intangibles	(10,130		)	(10,214		)	(10,115		)	(10,132		)	(10,106		)	(10,168		)	(10,186		)
Average allocated capital	$	12,000		$	12,000		$	12,000		$	12,000		$	12,000		$	12,000		$	12,000
Global Banking
Reported net income	$	5,273		$	5,769		$	1,378		$	1,277		$	1,251		$	1,367		$	1,520
Adjustment related to intangibles (2)	1			2			1			—			—			—			—
Adjusted net income	$	5,274		$	5,771		$	1,379		$	1,277		$	1,251		$	1,367		$	1,520
Average allocated equity (3)	$	58,935		$	57,429		$	58,938		$	58,947		$	58,978		$	58,877		$	57,420
Adjustment related to goodwill and a percentage of intangibles	(23,935		)	(23,929		)	(23,938		)	(23,947		)	(23,978		)	(23,877		)	(23,920		)
Average allocated capital	$	35,000		$	33,500		$	35,000		$	35,000		$	35,000		$	35,000		$	33,500
Global Markets
Reported net income (loss) (4)	$	2,496		$	2,705		$	185		$	821		$	806		$	684		$	(75	)
Adjustment related to intangibles (2)	10			9			2			4			2			2			2
Adjusted net income (loss)	$	2,506		$	2,714		$	187		$	825		$	808		$	686		$	(73	)
Average allocated equity (3)	$	40,392		$	39,394		$	40,355		$	40,351		$	40,432		$	40,432		$	39,395
Adjustment related to goodwill and a percentage of intangibles	(5,392		)	(5,394		)	(5,355		)	(5,351		)	(5,432		)	(5,432		)	(5,395		)
Average allocated capital	$	35,000		$	34,000		$	35,000		$	35,000		$	35,000		$	35,000		$	34,000

For footnotes see page 48.

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

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 2015			Third Quarter 2015			Fourth Quarter 2014
	2015			2014
Consumer Banking
Deposits
Reported net income	$	2,685		$	2,415		$	728		$	695		$	562
Adjustment related to intangibles (2)	—			—			—			—			—
Adjusted net income	$	2,685		$	2,415		$	728		$	695		$	562
Average allocated equity (3)	$	30,420		$	29,432		$	30,420		$	30,414		$	29,426
Adjustment related to goodwill and a percentage of intangibles	(18,420		)	(18,432		)	(18,420		)	(18,414		)	(18,426		)
Average allocated capital	$	12,000		$	11,000		$	12,000		$	12,000		$	11,000
Consumer Lending
Reported net income	$	4,054		$	4,021		$	1,071		$	1,064		$	1,092
Adjustment related to intangibles (2)	4			4			1			1			1
Adjusted net income	$	4,058		$	4,025		$	1,072		$	1,065		$	1,093
Average allocated equity (3)	$	28,900		$	30,966		$	28,876		$	28,891		$	30,941
Adjustment related to goodwill and a percentage of intangibles	(11,900		)	(11,966		)	(11,876		)	(11,891		)	(11,941		)
Average allocated capital	$	17,000		$	19,000		$	17,000		$	17,000		$	19,000

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

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

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

⁽⁴⁾  For information on the impact of early adoption of new accounting guidance on recognition and measurement of financial instruments, see page 2.

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. 48