8-K

As filed with the Securities and Exchange Commission on October 19, 2005.

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):

October 19, 2005

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

1-6523

(Commission File Number)

56-0906609

(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina

(Address of principal executive offices)

28255

(Zip Code)

704.386.5681

(Registrant’s telephone number, including area code)

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

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

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240-14a-12)

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

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

ITEM 2.02.  RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 19, 2005, Bank of America Corporation (the “Registrant”) announced financial results for the third quarter ended September 30, 2005, reporting for the quarter net income of $4.13 billion and diluted earnings per common share of $1.02. A copy of the press release announcing the Registrant’s results for the third quarter ended September 30, 2005 is attached hereto as Exhibit 99.1 and incorporated by reference herein.

ITEM 7.01.  REGULATION FD DISCLOSURE.

On October 19, 2005, the Registrant held an investor conference and webcast to disclose financial results for the third quarter ended September 30, 2005. The Supplemental Information package for use at this conference is furnished herewith as Exhibit 99.2 and incorporated by reference in Item 7.01. All information in the Supplemental Information package is presented as of September 30, 2005, and the Registrant does not assume any obligation to correct or update said information in the future.

The information in the proceeding paragraph, as well as Exhibit 99.2 referenced therein shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, nor shall it be deemed incorporated by reference in filings under the Securities Act of 1933.

ITEM 8.01.  OTHER EVENTS.

On October 19, 2005, the Registrant announced financial results for the third quarter ended September 30, 2005, reporting for the quarter net income of $4.13 billion and diluted earnings per common share of $1.02. A copy of the press release announcing the Registrant’s results for the third quarter ended September 30, 2005 is attached hereto at Exhibit 99.1 and incorporated by reference herein.

ITEM 9.01  FINANCIAL STATEMENTS AND EXHIBITS.

(c) Exhibits.

The following exhibits are filed herewith:

Exhibit No.
99.1	Press Release dated October 19, 2005 with respect to the Registrant’s financial results for the third quarter ended September 30, 2005.
99.2	Supplemental Information prepared for use on October 19, 2005 in connection with financial results for the third quarter ended September 30, 2005.

SIGNATURE

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

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

Dated: October 19, 2005

EXHIBIT INDEX

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated October 19, 2005 with respect to the Registrant’s financial results for the third quarter ended September 30, 2005.
99.2	Supplemental Information prepared for use on October 19, 2005 in connection with financial results for the third quarter ended September 30, 2005.

EX-99.1

Exhibit 99.1

October 19, 2005

Investors may contact:

Kevin Stitt, Bank of America, 704.386.5667

Lee McEntire, Bank of America, 704.388.6780

Leyla Pakzad, Bank of America, 704.386.2024

Media may contact:

Terry Francisco, Bank of America, 704.386.4343

Bank of America reports quarterly earnings of $4.13 billion, or $1.02 per share

Double digit revenue growth across all business segments

Investment banking, trading results increase

Efficiency ratio remains below 50 percent

Strong performance in card services

Average retail deposits up 10%

CHARLOTTE — Bank of America Corporation today reported that third quarter net income rose 10 percent to $4.13 billion from $3.76 billion a year earlier. Per share earnings increased 12 percent to $1.02 per share (diluted) from, $0.91 per share. Return on average common equity in the third quarter was 16.33 percent.

Excluding merger and restructuring charges of $120 million pre-tax, equal to 2 cents per share, the company earned $1.04 per share.

Improved results were driven by a 16 percent increase in revenue, reflecting continued success in growth initiatives in all of Bank of America’s major business segments. Revenue growth was driven primarily by increases in noninterest income, including continued strength in card results, service fees, a rebound in mortgage banking income, improved trading account profits and higher equity investment gains.

The growth in revenue, coupled with a 4 percent increase in noninterest expense, produced significant positive operating leverage of 12 percentage points.

For the first nine months of 2005, Bank of America earned $13.12 billion, or $3.22 per share (diluted), compared to $10.29 billion, or $2.76 per share, a year earlier.

“We had across the board increases in the business segments that make up our total revenue,” said Kenneth D. Lewis, chairman and chief executive officer. “This is a tribute to the power and balance of our franchise, the talent and energy of our associates and the continued improvements to the customer experience using Six Sigma and other processes. Combined with continued excellent expense control, we continue to produce significant positive operating leverage that is producing value for our shareholders.”

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Business Highlights

• The bank added a record 635,000 net new retail checking accounts in the quarter and 294,000 net new savings accounts. Total checking and savings accounts now are more than 51 million.

• Total average retail deposit balances increased nearly $38 billion, or 10 percent, from a year ago to more than $434 billion, driven by increased sales of checking products such as My Access and Campus Edge from both banking store and online sales channels.

• Average loans and leases grew 7 percent from a year ago to $539.5 billion.

• Average managed consumer credit card outstandings rose 9 percent to a record $59.8 billion, as the company added 1.5 million new consumer credit card accounts in the quarter.

• First mortgage loans originated in the third quarter rose to $27.5 billion, $10.9 billion higher than the third quarter of 2004, as borrowers took advantage of a favorable rate environment during the quarter.

• Debit card activity grew substantially from the same period last year, as purchase volumes soared 28 percent and revenue increased 29 percent to $421 million.

• Trading-related revenue climbed to $800 million in the third quarter from $584 million in the third quarter of 2004, boosted by improved results in equities and fixed income and interest rate-related trading.

• Investment banking income on a consolidated basis increased 19 percent from a year ago due to substantial increases in equity underwriting and advisory services fees.

• Assets under management grew 6 percent in Global Wealth and Investment Management from a year earlier.

• Based on assets under management weighted over 3 years, 70 percent of Columbia Management Group’s funds (equity, fixed, money market funds) are in the top 25^th percentile of Lipper’s overall rankings of the mutual fund industry.¹

• 53 percent of Columbia Management’s equity and fixed income funds are rated 4 or 5 stars by Morningstar as of September 30, 2005. ²

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Customer Highlights

• Bank of America recently introduced its Keep the Change™ program, which provides a free savings feature tied to a debit card. When customers sign up for Keep the Change, the amount of every purchase they make with a Bank of America debit card is automatically rounded up to the nearest whole dollar and the difference is transferred from their checking accounts into their savings accounts at the end of the day. Bank of America will match 100 percent of the Keep the Change transfers for the first three months. After that the bank will contribute five percent of contributions each year, with a maximum match of $250 annually.

• Bank of America introduced a new convenient nationwide service that allows customers to make remittances to Mexico for free. Called SafeSend^®, the new free feature is available to anyone who has a Bank of America personal checking account. Earlier this year, Bank of America became the first major financial institution in the United States to offer free remittances when it introduced the product in Chicago.

• Bank of America was named best consumer Internet bank in the United States by Global Finance magazine as part of its “World’s Best Internet Banks” competition. Global Finance magazine also gave Bank of America awards for the best information security initiatives, best bill pay and presentment, as well as best online consumer credit in North America. Bank of America is the leading online banking site, with 14.3 million active online banking customers, 7.0 million active bill pay customers, and more than 1.4 billion visits annually to bankofamerica.com.

• While Bank of America has limited operations in Louisiana, Alabama and Mississippi, the bank has developed special product and service programs to assist customers affected by Hurricane Katrina within the federal disaster area, as designated by FEMA. These programs include payment deferrals for credit cards, mortgages, home equity lines of credit, and auto/boat/RV loans. Bank of America and its associates have given in excess of $4 million to aid the victims of Hurricane Katrina. Bank of America also previously announced a $100 million Community Development Banking goal to rebuild affordable housing and revitalize neighborhoods in Gulf Coast areas devastated by Hurricanes Katrina and Rita.

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Third Quarter 2005 Financial Summary

Revenue

Revenue on a fully taxable-equivalent basis grew 16 percent to $14.81 billion from $12.76 billion the previous year.

Net interest income on a fully taxable-equivalent basis was $7.97 billion, up almost 2 percent from $7.84 billion a year earlier, as the impact of continued success in growing loans and deposits was dampened by continued relatively low long-term interest rates and a flatter yield curve. Specifically, the increase in net interest income was driven by growth in consumer and middle-market business loans, higher domestic deposit levels, and a larger asset-liability management portfolio. These increases were partially offset by margin compression resulting from a flattening yield curve and a lower trading-related net interest income contribution. Net interest income was up almost 2 percent from the second quarter of 2005. The net interest yield in the third quarter was 2.80 percent, down 1 basis point from the second quarter and 50 basis points from a year earlier.

Noninterest income rose 39 percent to $6.83 billion from $4.92 billion a year earlier. These results were driven by higher card income, equity investment gains and trading account profits. Mortgage banking income rebounded from a $250 million loss the previous year related to writedowns associated with mortgage servicing rights.

During the quarter, the company realized $29 million in debt securities gains compared to $732 million in the third quarter of 2004.

Efficiency

With strong revenue growth and continued expense control, the efficiency ratio for the third quarter of 2005, including merger and restructuring charges, improved to 49.20 percent (48.39 percent excluding merger and restructuring charges). Noninterest expense increased 4 percent to $7.29 billion compared to $7.02 billion a year ago, due primarily to increases in revenue-related incentive compensation resulting from improved performance. Full year 2005 cost savings from the merger with FleetBoston Financial Corporation are estimated to be $1.85 billion.

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Credit Quality

Credit quality was generally stable, however the rate of improvement in commercial credit quality slowed. Charge-offs and provision expense rose. The company took $209 million in previously-reserved-for charge-offs associated with the domestic airline industry. Consumer loan reserves increased, reflecting growth and seasoning in the credit card portfolio including returning securitizations. A $50 million reserve was established for estimated losses associated with Hurricane Katrina.

• Provision for credit losses was $1.16 billion, up from $875 million in the second quarter of 2005 and $650 million a year earlier.

• Net charge-offs were $1.15 billion, or 0.84 percent of average loans and leases. This compared to $880 million, or 0.68 percent, in the second quarter of 2005 and $719 million, or 0.57 percent of average loans and leases, in the third quarter of 2004.

• Nonperforming assets decreased to $1.60 billion, or 0.29 percent of total loans, leases and foreclosed properties, at September 30, 2005. This compared to $1.90 billion, or 0.36 percent, at June 30, 2005 and $2.84 billion, or 0.55 percent, at September 30, 2004.

• The allowance for loan and lease losses was $8.33 billion, or 1.50 percent of loans and leases, at September 30, 2005. This compared to $8.32 billion, or 1.57 percent, at June 30, 2005 and $8.72 billion, or 1.70 percent, at September 30, 2004.

Capital Management

Total shareholders’ equity was $101.3 billion at September 30, 2005. Period-end assets grew to $1.25 trillion. The Tier 1 Capital Ratio was 8.21 percent, compared to 8.06 percent at June 30, 2005 and 8.08 percent a year ago.

During the quarter, Bank of America paid a cash dividend of $0.50 per share. The company also issued 7.0 million shares, primarily related to employee stock options and ownership plans, and repurchased 10.6 million shares. Period-ending common shares issued and outstanding were 4.01 billion in the third quarter, compared to 4.02 billion in the second quarter of 2005 and 4.05 billion in the third quarter of 2004.

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Third Quarter 2005 Business Segment Results

Global Consumer and Small Business Banking

(Dollars in millions)	Third Quarter 2005			Third Quarter 2004
Total Revenue 1	$	7,402		$	6,578
Provision for credit losses		1,107			1,012
Noninterest expense		3,328			3,317
Net Income		1,884			1,503
Efficiency ratio		45.0	%		50.4	%
Return on average equity		22.8			18.3
Loans and leases2	$	145,715		$	134,201
Deposits2		310,495			306,367

¹ Fully taxable-equivalent basis

² Balances averaged for period

Continued strong growth in the card business, significant increases in home equity loans, a rebound in mortgage banking, and continuing account growth which has led to market share gains in retail deposits, drove Global Consumer and Small Business Banking’s 25 percent increase in net income. Revenue rose 12 percent.

Card income rose more than 21 percent to $1.4 billion as a result of increased customer activity, growth in managed outstandings and the impact of the National Processing Corporation acquisition in the fourth quarter of 2004. Provision expense increased primarily due to higher card charge-offs resulting from growth and seasoning of the portfolio.

The bank’s mortgage unit benefited from an improved interest rate environment in the quarter along with a reduced cost structure for originating and servicing first mortgages and home equity loans. Average outstandings on home equity loans across all business units increased 31 percent to $65.7 billion from the third quarter of 2004. Results were significantly better than a year ago, primarily due to a writedown of mortgage servicing rights in the third quarter of 2004.

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Global Business and Financial Services

(Dollars in millions)	Third Quarter 2005			Third Quarter 2004
Total Revenue 1	$	2,854		$	2,519
Provision for credit losses		79			(236	)
Noninterest expense		1,052			921
Net Income		1,102			1,190
Efficiency ratio		36.9	%		36.6	%
Return on average equity		15.1			15.9
Loans and leases2	$	183,937		$	164,811
Deposits2		107,963			102,252

¹ Fully taxable-equivalent basis

² Balances averaged for period

Global Business and Financial Services benefited in the quarter from continued strong loan growth across all business lines, including the purchase of loans from General Motors Acceptance Corporation. Net income declined as provision expense increased. Revenue grew more than 13 percent.

Average loans and leases in Global Business and Financial Services grew more than $19 billion from the third quarter of 2004, or 12 percent, as commercial activity continued to increase. Middle market business loans and leases grew more than 10 percent with strong growth across all geographic regions.

Revenue growth was driven by strong net interest income on loans and deposits in Commercial Real Estate and Business Banking.

Provision expense increased $315 million, primarily due to a slower rate of improvement in commercial credit quality and higher net charge-offs.

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Global Capital Markets and Investment Banking

(Dollars in millions)	Third Quarter 2005			Third Quarter 2004
Total Revenue 1	$	2,323		$	2,066
Trading-related revenue		800			584
Investment banking income		491			420
Provision for credit losses		(69	)		(152	)
Noninterest expense		1,715			1,508
Net Income		434			471
Efficiency ratio		73.9	%		73.0	%
Return on average equity		16.9			17.3
Loans and leases2	$	32,280		$	35,370
Deposits2		83,042			72,224
Trading-related earning assets2		312,441			222,042

¹ Fully taxable-equivalent basis

² Balances averaged for period

Strong trading results and increased market share gains in investment banking for Global Capital Markets and Investment Banking drove revenue 12 percent higher. Net income declined as provision increased and expenses rose as the company continued to invest in the business.

Trading-related results benefited from increased profits in fixed income, equities, interest rate and foreign exchange products.

Investment banking income was up 17 percent, driven by increased activity in equity underwriting and advisory services.

During the quarter, Banc of America Securities achieved significant gains in market share as tabulated by Thomson Financial. Year-to-date, the unit increased its market share in underwriting investment grade debt to 8 percent and rose in rankings to 4th from 8th for the first nine months of 2004. Banc of America Securities maintained its number one ranking in high yield debt underwriting for the year, and maintained top five underwriting rankings in syndicated loans, leveraged loans, and mortgage-backed securities.

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Global Wealth and Investment Management

(Dollars in millions)	Third Quarter 2005			Third Quarter 2004
Total Revenue 1	$	1,835		$	1,605
Provision for credit losses		1			(18	)
Noninterest expense		914			873
Net Income		583			476
Efficiency ratio		49.9	%		54.4	%
Return on average equity		23.2			20.2
Average loans and leases2	$	55,175		$	45,654
Average deposits2		116,068			87,909
(in billions)	At 9/30/05			At 9/30/04
Assets under management	$	457.4		$	429.5

¹ Fully taxable-equivalent basis

² Balances averaged for period

Global Wealth and Investment Management increased net income by 22 percent from third quarter 2004 as increased asset management fees, higher loan volume and migration of deposits to Premier Banking from Consumer Banking drove results.

Asset management fees increased 7 percent from the third quarter of 2004 as the unit experienced 6 percent growth in assets under management. Growth in assets under management was mainly due to net inflows of $3.6 billion and the positive impact of $24.2 billion in increased market values.

Sales of brokerage services to Premier clients, the mass affluent sector, continued to grow, with 30 percent currently using these investment services in addition to banking products, up from 25 percent at the end of 2004.

All Other

All Other reflected $124 million of net income for the quarter, the same as the third quarter of 2004. Equity Investment gains were $564 million in the third quarter of 2005 compared to $182 million in the third quarter of 2004. All Other also included debt securities gains related to asset/liability management of $13 million, compared to $614 million in the third quarter of 2004.

Note: Al de Molina, chief financial officer, will discuss third quarter results in a conference call at 10 a.m. (Eastern Time) today. The call can be accessed via a webcast available on the Bank of America Web site at http://www.bankofamerica.com/investor/.

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Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving more than 38 million consumer and small business relationships with more than 5,800 retail banking offices, more than 16,700 ATMs and award-winning online banking with more than 14 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 150 countries and has relationships with 97 percent of the U.S. Fortune 500 companies and 79 percent of the Global Fortune 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the financial conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: 1) projected business increases following process changes and other investments are lower than expected; 2) competitive pressure among financial services companies increases significantly; 3) general economic conditions are less favorable than expected; 4) political conditions including the threat of future terrorist activity and related actions by the United States abroad may adversely affect the company’s businesses and economic conditions as a whole; 5) changes in the interest rate environment reduce interest margins and impact funding sources; 6) changes in foreign exchange rates increases exposure; 7) changes in market rates and prices may adversely impact the value of financial products; 8) legislation or regulatory environments, requirements or changes adversely affect the businesses in which the company is engaged; 9) litigation liabilities, including costs, expenses, settlements and judgments, may adversely affect the company or its businesses; and 10) decisions to downsize, sell or close units or otherwise change the business mix of any of the company. For further information regarding Bank of America Corporation, please read the Bank of America reports filed with the SEC and available at www.sec.gov.

¹ Lipper Inc. is an independent mutual fund performance monitor. Lipper ranks mutual funds’ total performance (assuming reinvestment of distributions) against other funds having similar investment objectives and strategies. Lipper makes no adjustment for the effect of sales loads.

² 45 Columbia Management funds had at least one share class earn an Overall Rating of 4 or 5 stars by Morningstar, Inc. for the period ended August 31, 2005. For each fund with at least a three-year history, Morningstar calculates a Morningstar Rating (tm) based on a Morningstar Risk-Adjusted Return measure. The top 10 percent of funds in each category receive five stars, the next 22.5 percent receive four stars. The Overall Morningstar Rating for a fund is derived from a weighted average of the performance figures associated with its three-, five- and ten-year (if applicable) Morningstar Rating metrics. Past performance is no guarantee of future performance.

Bank of America

Selected Financial Data

	Three Months Ended September 30						Nine Months Ended September 30
	2005			2004			2005			2004
(Dollars in millions, except per share data; shares in thousands)
Financial Summary
Earnings	$	4,127		$	3,764		$	13,118		$	10,294
Earnings per common share		1.03			0.93			3.27			2.80
Diluted earnings per common share		1.02			0.91			3.22			2.76
Dividends paid per common share		0.50			0.45			1.40			1.25
Closing market price per common share		42.10			43.33			42.10			43.33
Average common shares issued and outstanding		4,000,573			4,052,304			4,012,924			3,666,298
Average diluted common shares issued and outstanding		4,054,659			4,121,375			4,072,991			3,729,120
Summary Income Statement
Net interest income	$	7,773		$	7,665		$	23,296		$	21,047
Total noninterest income		6,834			4,922			19,348			14,119
Total revenue		14,607			12,587			42,644			35,166
Provision for credit losses		1,159			650			2,614			2,063
Gains on sales of debt securities		29			732			1,013			2,022
Other noninterest expense		7,165			6,800			21,008			19,333
Merger and restructuring charges		120			221			353			346
Income before income taxes		6,192			5,648			19,682			15,446
Income tax expense		2,065			1,884			6,564			5,152
Operating net income		4,207			3,911			13,353			10,524
Merger & Restructuring charges, net of tax		80			147			235			230
Net income	$	4,127		$	3,764		$	13,118		$	10,294
Summary Average Balance Sheet
Total loans and leases	$	539,487		$	503,078		$	528,339		$	458,268
Securities		225,952			169,515			219,314			143,119
Total earning assets		1,137,619			948,383			1,100,693			874,176
Total assets		1,294,745			1,096,683			1,258,050			1,008,434
Total deposits		632,771			587,878			633,614			531,958
Shareholders’ equity		100,454			96,392			99,234			79,510
Common shareholders’ equity		100,183			96,120			98,963			79,293
Performance Ratios
Return on average assets		1.26	%		1.37	%		1.39	%		1.36	%
Return on average common shareholders’ equity		16.33			15.56			17.70			17.32
Credit Quality
Net charge-offs	$	1,145		$	719		$	2,914		$	2,268
Annualized net charge-offs as a % of average loans and leases outstanding		0.84	%		0.57	%		0.74	%		0.66	%
Managed credit card net losses as a % of average managed credit card receivables		5.74			5.48			6,04			5.52

	At September 30
	2005			2004
Balance Sheet Highlights
Loans and leases	$	554,603		$	511,639
Total securities		227,485			163,858
Total earning assets		1,091,680			927,161
Total assets		1,252,259			1,072,829
Total deposits		626,477			591,258
Total shareholders’ equity		101,258			98,011
Common shareholders’ equity		100,987			97,739
Book value per share		25.16			24.14
Tangible equity ratio		4.37	%		4.84	%
Risk-based capital ratios:
Tier 1		8.21	*		8.08
Total		11.12	*		11.71
Leverage ratio		5.85	*		5.92
Period-end common shares issued and outstanding		4,013,063			4,049,063
Allowance for credit losses:
Allowance for loan and lease losses	$	8,326		$	8,723
Reserve for unfunded lending commitments		390			446
Total	$	8,716		$	9,169
Allowance for loan and lease losses as a % of total loans and leases		1.50	%		1.70	%
Allowance for loan and lease losses as a % of total nonperforming loans and leases		556			343
Total nonperforming loans and leases	$	1,498		$	2,546
Total nonperforming assets		1,597			2,836
Nonperforming assets as a % of:
Total assets		0.13	%		0.26	%
Total loans, leases and foreclosed properties		0.29			0.55
Nonperforming loans and leases as a % of total loans and leases		0.27			0.50
Other Data
Full-time equivalent employees		177,236			178,632
Number of banking centers - domestic		5,844			5,829
Number of ATMs - domestic		16,714			16,728

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

BUSINESS SEGMENT RESULTS

	Global Consumer and Small Business Banking			Global Business and Financial Services			Global Capital Markets and Investment Banking			Global Wealth and Investment Management			All Other
Three Months Ended September 30, 2005
Total revenue (FTE) (2)	$	7,402		$	2,854		$	2,323		$	1,835		$	393
Net income		1,884			1,102			434			583			124
Shareholder value added		1,113			333			163			326			(305	)
Return on average equity		22.81	%		15.13	%		16.90	%		23.23	%		n/m
Average loans and leases	$	145,715		$	183,937		$	32,280		$	55,175		$	122,380
Three Months Ended September 30, 2004
Total revenue (FTE) (2)	$	6,578		$	2,519		$	2,066		$	1,605		$	(10	)
Net income		1,503			1,190			471			476			124
Shareholder value added		731			400			185			236			(99	)
Return on average equity		18.30	%		15.86	%		17.34	%		20.21	%		n/m
Average loans and leases	$	134,201		$	164,811		$	35,370		$	45,654		$	123,041
Nine Months Ended September 30, 2005
Total revenue (FTE) (2)	$	21,447		$	8,260		$	7,063		$	5,465		$	999
Net income		5,394			3,427			1,613			1,752			932
Shareholder value added		3,108			1,127			808			985			(204	)
Return on average equity		21.94	%		15.71	%		21.11	%		23.42	%		n/m
Average loans and leases	$	142,260		$	177,264		$	32,865		$	52,983		$	122,967
Nine Months Ended September 30, 2004
Total revenue (FTE) (2)	$	18,035		$	6,533		$	6,852		$	4,252		$	4
Net income		4,361			2,629			1,335			1,122			847
Shareholder value added		2,517			874			570			527			(39	)
Return on average equity		22.40	%		15.77	%		18.45	%		19.33	%		n/m
Average loans and leases	$	116,822		$	146,347		$	33,889		$	42,749		$	118,461

n/m = not meaningful

	Three Months Ended September 30						Nine Months Ended September 30
	2005			2004			2005			2004
SUPPLEMENTAL FINANCIAL DATA
Fully taxable-equivalent basis data (2)
Net interest income	$	7,973		$	7,836		$	23,886		$	21,557
Total revenue		14,807			12,758			43,234			35,676
Net interest yield		2.80	%		3.30	%		2.90	%		3.29	%
Efficiency ratio		49.20			55.03			49.41			55.16
Reconciliation of net income to operating earnings
Net income	$	4,127		$	3,764		$	13,118		$	10,294
Merger and restructuring charges		120			221			353			346
Related income tax benefit		(40	)		(74	)		(118	)		(116	)
Operating earnings	$	4,207		$	3,911		$	13,353		$	10,524
Operating Basis
Diluted earnings per common share	$	1.04		$	0.95		$	3.28		$	2.82
Return on average assets		1.29	%		1.42	%		1.42	%		1.39	%
Return on average common shareholders’ equity		16.64			16.17			18.02			17.71
Efficiency ratio		48.39			53.30			48.59			54.19
Reconciliation of net income to shareholder value added
Net income	$	4,127		$	3,764		$	13,118		$	10,294
Amortization of intangibles		201			200			613			455
Merger and restructuring charges, net of tax benefit		80			147			235			230
Capital charge		(2,778	)		(2,658	)		(8,142	)		(6,530	)
Shareholder value added	$	1,630		$	1,453		$	5,824		$	4,449

⁽¹⁾ Certain prior period amounts have been reclassified to conform to current period presentation.

⁽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.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

EX-99.2

Exhibit 99.2

Supplemental Information

Third Quarter 2005

This information is preliminary and based on company data available at the time of the presentation. It speaks only as of the particular date or dates included in the accompanying pages. Bank of America does not undertake an obligation to, and disclaims any duty to, correct or 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

Results Overview

Third Quarter 2005

• Earnings of $4.1 billion or $1.02 per diluted share grew 12% over results in 3Q04 but fell 4% versus 2Q05 results. Excluding merger and restructuring charges of $120 million, $80 million after tax, earnings were $1.04 per diluted share.

• Revenue increased at a double digit pace in all business segments versus 3Q04

• Global Consumer & Business Banking increased 13%

• Global Wealth & Investment Management increased 14%

• Global Business & Financial Services increased 13%

• Global Capital Markets & Investment Banking increased 12%

• Revenue on an FTE basis of $14.8 billion grew 4% compared to 2Q05 and 16% over 3Q04

Net interest income improved 1.7% versus 2Q05 while the net interest yield declined 1 bp to 2.80%

• Increasing loan and deposit levels drove the improvement offsetting compression from the flattening yield curve.

• Retail deposits grew another $6.4 billion or 1% versus 2Q05

• Average loans grew 4% (excluding residential mortgages held for asset liability management purposes)

• Noninterest income improved 7% from 2Q05 with continuing consumer strength aided by good market sensitive revenue.

• Service charges grew 8% versus 2Q05 while credit card income increased 6% in the quarter.

• Trading-related revenue improved 14% and investment banking climbed 21%.

• Equity investment gains showed continued strength reaching $668 million in 3Q05 versus $492 million in 2Q05.

• Securities gains recognized in 3Q05 were $29 million versus $325 million in 2Q05.

• Noninterest expense, excluding merger and restructuring charges, of $7.2 billion increased 4% versus 2Q05 and resulted in an efficiency ratio of 48%.

• Personnel costs rose 5% driven by revenue growth and higher legal costs were offset by lower marketing expenses.

• Provision expense was $1,159 million versus the $1,145 million net charge-offs recorded in the quarter

• Charge-offs include $209 million domestic airline exposure reserved in prior periods.

• Also contributing to decreased commercial reserves was improvement in the risk profile of Argentine exposure.

• Partially offsetting these reductions in commercial reserves was increased consumer reserves for card portfolio growth, including securitizations returning to the balance sheet, and continued portfolio seasoning.

• A $50 million reserve was established for estimated losses associated with Hurricane Katrina.

• Tier 1 ratio rose to 8.21% versus 2Q05 ratio at 8.06%.

• Continuing momentum in business lines:

• 8.5 million product sales.

• Number of net new checking accounts grew by 635,000.

• Number of net new savings accounts grew by 294,000.

• Opened 1.5 million new credit card accounts.

• 1.1 million of retail product sales delivered through the Ecommerce channel, up 79% versus 3Q04.

• Active online banking users increased to 14.3 million while bill payers reached 7 million.

• Bill payers are now paying $33 billion worth of bills per quarter with bill presenters growing to more than 300.

• Assets under management ended the quarter at $457 billion reflecting increases from market valuations as well as net inflows.

• Fleet merger all but completed.

• MBNA integration underway as closing is expected in January 2006.

1

Bank of America Corporation

Fleet Merger Accomplishments

• Converted 10.6 million cardholder accounts

• Converted 6 million retail accounts to the Model Bank platform

• Opened over 380,000 net new checking accounts in Northeast

• More than 2.5 million unit sales of products so far in 2005

• Converted 902,000 Quick & Reilly accounts

• Placed 455 Premier bankers in Northeast markets

• Welcomed 187,000 Premier customers

• Opened 5 Premier banking and investment centers

• Installed Loan Solutions capabilities in 1,500 banking centers

• Achieved total cost savings of $1.85 billion in 2005

2

Bank of America Corporation

Consolidated Financial Highlights

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

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Income statement
Total revenue	$	42,644		$	35,166		$	14,607		$	14,015		$	14,022		$	13,713		$	12,587
Provision for credit losses		2,614			2,063			1,159			875			580			706			650
Gains on sales of debt securities		1,013			2,022			29			325			659			101			732
Noninterest expense		21,361			19,679			7,285			7,019			7,057			7,333			7,021
Income tax expense		6,564			5,152			2,065			2,150			2,349			1,926			1,884
Net income		13,118			10,294			4,127			4,296			4,695			3,849			3,764
Diluted earnings per common share		3.22			2.76			1.02			1.06			1.14			0.94			0.91
Average diluted common shares issued and outstanding		4,072,991			3,729,120			4,054,659			4,065,355			4,099,062			4,106,040			4,121,375
Dividends paid per common share	$	1.40		$	1.25		$	0.50		$	0.45		$	0.45		$	0.45		$	0.45
Performance ratios
Return on average assets		1.39	%		1.36	%		1.26	%		1.35	%		1.59	%		1.33	%		1.37	%
Return on average common shareholders’ equity		17.70			17.32			16.33			17.54			19.30			15.63			15.56
At period end
Book value per share of common stock	$	25.16		$	24.14		$	25.16		$	24.96		$	24.35		$	24.56		$	24.14
Market price per share of common stock:
Closing price	$	42.10		$	43.33		$	42.10		$	45.61		$	44.10		$	46.99		$	43.33
High closing price for the period		47.08			44.98			45.98			47.08			47.08			47.44			44.98
Low closing price for the period		41.60			38.96			41.60			44.01			43.66			43.62			41.81
Market capitalization		168,950			175,446			168,950			183,202			177,958			190,147			175,446
Number of banking centers - domestic		5,844			5,829			5,844			5,880			5,889			5,885			5,829
Number of ATMs - domestic		16,714			16,728			16,714			16,687			16,798			16,771			16,728
Full-time equivalent employees		177,236			178,632			177,236			177,795			176,675			178,053			178,632

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

3

Bank of America Corporation

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Net interest income	$	23,886		$	21,557		$	7,973		$	7,841		$	8,072		$	7,954		$	7,836
Total revenue		43,234			35,676			14,807			14,206			14,221			13,920			12,758
Net interest yield		2.90	%		3.29	%		2.80	%		2.81	%		3.11	%		3.18	%		3.30	%
Efficiency ratio		49.41			55.16			49.20			49.42			49.62			52.69			55.03

Reconciliation to GAAP financial measures

Supplemental financial data presented on an operating basis is a basis of presentation not defined by accounting principles generally accepted in the United States (GAAP) that excludes merger and restructuring charges. We believe that the exclusion of merger and restructuring charges, which represent events outside our normal operations, provides a meaningful period-to-period comparison and is more reflective of normalized operations.

Shareholder value added (SVA) is a key measure of performance not defined by GAAP that is used in managing our growth strategy orientation and strengthening our focus on generating long-term growth and shareholder value. SVA is used to evaluate the Corporation's use of equity (i.e. capital) at the individual unit level and is an integral component in the analytics for resource allocation. Using SVA as a performance measure places specific focus on whether incremental investments generate returns in excess of the costs of capital associated with those investments. Each business segment has a goal for growth in SVA reflecting the individual segment's business and customer strategy.

Other companies may define or calculate supplemental financial data differently. See the Tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the quarters ended September 30, 2005, June 30, 2005, March 31, 2005, December 31, 2004 and September 30, 2004, and the nine months ended September 30, 2005 and 2004.

Reconciliation of net income to operating earnings

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Net income	$	13,118		$	10,294		$	4,127		$	4,296		$	4,695		$	3,849		$	3,764
Merger and restructuring charges		353			346			120			121			112			272			221
Related income tax benefit		(118	)		(116	)		(40	)		(41	)		(37	)		(91	)		(74	)
Operating earnings	$	13,353		$	10,524		$	4,207		$	4,376		$	4,770		$	4,030		$	3,911
Operating basis
Diluted earnings per common share	$	3.28		$	2.82		$	1.04		$	1.08		$	1.16		$	0.98		$	0.95
Return on average assets		1.42	%		1.39	%		1.29	%		1.37	%		1.61	%		1.39	%		1.42	%
Return on avg common shareholders’ equity		18.02			17.71			16.64			17.87			19.61			16.37			16.17
Efficiency ratio		48.59			54.19			48.39			48.56			48.83			50.73			53.30
Reconciliation of net income to shareholder value added
Net income	$	13,118		$	10,294		$	4,127		$	4,296		$	4,695		$	3,849		$	3,764
Amortization of intangibles		613			455			201			204			208			209			200
Merger and restructuring charges, net of tax benefit		235			230			80			80			75			181			147
Capital charge		(8,142	)		(6,530	)		(2,778	)		(2,691	)		(2,673	)		(2,705	)		(2,658	)
Shareholder value added	$	5,824		$	4,449		$	1,630		$	1,889		$	2,305		$	1,534		$	1,453

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

4

Bank of America Corporation

Consolidated Statement of Income

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

	Year-to-Date September 30				Third Quarter 2005		Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004		Third Quarter 2004
	2005		2004
Interest income
Interest and fees on loans and leases	$	25,375	$	20,294	$	8,956	$	8,312	$	8,107	$	7,919	$	7,508
Interest and dividends on securities		8,130		5,197		2,797		2,799		2,534		2,065		2,078
Federal funds sold and securities purchased under agreements to resell		3,504		1,331		1,359		1,252		893		712		484
Trading account assets		4,158		2,981		1,550		1,426		1,182		1,035		960
Other interest income		1,486		1,226		547		502		437		464		457
Total interest income		42,653		31,029		15,209		14,291		13,153		12,195		11,487
Interest expense
Deposits		6,831		4,446		2,409		2,379		2,043		1,829		1,711
Short-term borrowings		7,971		2,891		3,325		2,677		1,969		1,543		1,152
Trading account liabilities		1,745		965		707		611		427		352		333
Long-term debt		2,810		1,680		995		974		841		724		626
Total interest expense		19,357		9,982		7,436		6,641		5,280		4,448		3,822
Net interest income		23,296		21,047		7,773		7,650		7,873		7,747		7,665
Noninterest income
Service charges		5,777		5,098		2,080		1,920		1,777		1,891		1,899
Investment and brokerage services		3,122		2,606		1,060		1,049		1,013		1,008		972
Mortgage banking income (loss)		590		258		180		189		221		156		(250	)
Investment banking income		1,319		1,389		522		431		366		497		438
Equity investment gains		1,559		437		668		492		399		426		220
Card income		4,246		3,212		1,520		1,437		1,289		1,380		1,258
Trading account profits		1,559		600		514		285		760		269		184
Other income		1,176		519		290		562		324		339		201
Total noninterest income		19,348		14,119		6,834		6,365		6,149		5,966		4,922
Total revenue		42,644		35,166		14,607		14,015		14,022		13,713		12,587
Provision for credit losses		2,614		2,063		1,159		875		580		706		650
Gains on sales of debt securities		1,013		2,022		29		325		659		101		732
Noninterest expense
Personnel		11,209		9,915		3,837		3,671		3,701		3,520		3,534
Occupancy		1,889		1,731		638		615		636		648		622
Equipment		894		888		300		297		297		326		309
Marketing		990		1,012		307		346		337		337		364
Professional fees		647		561		254		216		177		275		207
Amortization of intangibles		613		455		201		204		208		209		200
Data processing		1,093		958		361		368		364		371		341
Telecommunications		608		514		206		196		206		216		180
Other general operating		3,065		3,299		1,061		985		1,019		1,159		1,043
Merger and restructuring charges		353		346		120		121		112		272		221
Total noninterest expense		21,361		19,679		7,285		7,019		7,057		7,333		7,021
Income before income taxes		19,682		15,446		6,192		6,446		7,044		5,775		5,648
Income tax expense		6,564		5,152		2,065		2,150		2,349		1,926		1,884
Net income	$	13,118	$	10,294	$	4,127	$	4,296	$	4,695	$	3,849	$	3,764
Net income available to common shareholders	$	13,104	$	10,283	$	4,122	$	4,292	$	4,690	$	3,844	$	3,759
Per common share information
Earnings	$	3.27	$	2.80	$	1.03	$	1.07	$	1.16	$	0.95	$	0.93
Diluted earnings	$	3.22	$	2.76	$	1.02	$	1.06	$	1.14	$	0.94	$	0.91
Dividends paid	$	1.40	$	1.25	$	0.50	$	0.45	$	0.45	$	0.45	$	0.45
Average common shares issued and outstanding		4,012,924		3,666,298		4,000,573		4,005,356		4,032,550		4,032,979		4,052,304
Average diluted common shares issued and outstanding		4,072,991		3,729,120		4,054,659		4,065,355		4,099,062		4,106,040		4,121,375

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

5

Bank of America Corporation

Consolidated Balance Sheet

(Dollars in millions)	September 30 2005			June 30 2005			September 30 2004
Assets
Cash and cash equivalents	$	32,771		$	33,935		$	29,252
Time deposits placed and other short-term investments		11,236			9,682			11,021
Federal funds sold and securities purchased under agreements to resell		135,409			149,287			104,570
Trading account assets		121,256			126,658			102,925
Derivative assets		26,005			26,019			25,398
Securities:
Available-for-sale		227,349			233,412			163,438
Held-to-maturity, at cost		136			174			420
Total securities		227,485			233,586			163,858
Loans and leases		554,603			529,418			511,639
Allowance for loan and lease losses		(8,326	)		(8,319	)		(8,723	)
Loans and leases, net of allowance		546,277			521,099			502,916
Premises and equipment, net		7,659			7,602			7,884
Mortgage servicing rights		2,764			2,366			2,453
Goodwill		45,298			45,381			44,709
Core deposit intangibles and other intangibles		3,356			3,472			3,726
Other assets		92,743			87,243			74,117
Total assets	$	1,252,259		$	1,246,330		$	1,072,829
Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	174,990		$	175,427		$	155,406
Interest-bearing		390,973			397,778			380,956
Deposits in foreign offices:
Noninterest-bearing		6,750			6,102			5,632
Interest-bearing		53,764			56,110			49,264
Total deposits		626,477			635,417			591,258
Federal funds purchased and securities sold under agreements to repurchase		217,053			207,710			142,992
Trading account liabilities		51,244			61,906			36,825
Derivative liabilities		15,711			15,630			12,721
Commercial paper and other short-term borrowings		107,655			93,763			61,585
Accrued expenses and other liabilities (includes $390, $383 and $446 of reserve for unfunded lending commitments)		32,976			34,470			28,851
Long-term debt		99,885			96,894			100,586
Total liabilities		1,151,001			1,145,790			974,818
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 1,090,189 shares		271			271			271
Common stock and additional paid-in capital, $0.01 par value; authorized - 7,500,000,000 shares; issued and outstanding - 4,013,063,444; 4,016,703,839 and 4,049,062,685 shares		42,548			42,507			44,756
Retained earnings		65,439			63,328			55,979
Accumulated other comprehensive income (loss)		(6,509	)		(4,992	)		(2,669	)
Other		(491	)		(574	)		(326	)
Total shareholders’ equity		101,258			100,540			98,011
Total liabilities and shareholders’ equity	$	1,252,259		$	1,246,330		$	1,072,829

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

6

Bank of America Corporation

Capital Management

(Dollars in millions)

	Third Quarter 2005(1)			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
Tier 1 capital	$	73,030		$	68,806		$	67,127		$	64,281		$	62,981
Total capital		98,989			94,933			93,774			92,266			91,326
Risk-weighted assets		889,979			853,669			818,179			793,523			779,858
Tier 1 capital ratio		8.21	%		8.06	%		8.20	%		8.10	%		8.08	%
Total capital ratio		11.12			11.12			11.46			11.63			11.71
Tangible equity ratio(2)		4.37			4.32			4.25			4.76			4.84
Leverage ratio		5.85			5.59			5.82			5.82			5.92

(1) Preliminary data on risk-based capital

(2) Tangible equity ratio equals shareholders’ equity less goodwill, core deposit intangibles and other intangibles divided by total assets less goodwill, core deposit intangibles and other intangibles.

Share Repurchase Program

10.6 million common shares were repurchased in the third quarter of 2005 as a part of ongoing share repurchase programs.

186.4 million shares remain outstanding under the 2005 authorized program.

7.0 million shares were issued in the third quarter of 2005.

Captial Management

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

7

Bank of America Corporation

Core Net Interest Income

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Net Interest Income
As reported (fully taxable-equivalent basis)	$	23,886		$	21,557		$	7,973		$	7,841		$	8,072		$	7,954		$	7,836
Trading-related net interest income		(1,144	)		(1,622	)		(316	)		(414	)		(414	)		(417	)		(448	)
Core net interest income		22,742			19,935			7,657			7,427			7,658			7,537			7,388
Impact of revolving securitizations		615			637			168			209			238			244			290
Core net interest income - managed basis	$	23,357		$	20,572		$	7,825		$	7,636		$	7,896		$	7,781		$	7,678
Average Earning Assets
As reported	$	1,100,693		$	874,176		$	1,137,619		$	1,118,527		$	1,044,914		$	998,004		$	948,383
Trading-related earning assets		(297,426	)		(218,840	)		(312,441	)		(315,716	)		(263,583	)		(252,217	)		(222,042	)
Core average earning assets		803,267			655,336			825,178			802,811			781,331			745,787			726,341
Impact of revolving securitizations		9,484			9,866			7,723			9,973			10,791			11,112			13,253
Core average earning assets - managed basis	$	812,751		$	665,202		$	832,901		$	812,784		$	792,122		$	756,899		$	739,594
Net Interest Yield Contribution
As reported (fully taxable-equivalent basis)		2.90	%		3.29	%		2.80	%		2.81	%		3.11	%		3.18	%		3.30	%
Impact of trading-related activities		0.88			0.77			0.91			0.90			0.84			0.85			0.76
Core net interest yield on earning assets		3.78			4.06			3.71			3.71			3.95			4.03			4.06
Impact of revolving securitizations		0.05			0.06			0.04			0.05			0.06			0.06			0.08
Core net interest yield on earning assets - managed basis		3.83	%		4.12	%		3.75	%		3.76	%		4.01	%		4.09	%		4.14	%

Certain prior period amounts have been restated reflecting realignment of business segments.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

8

Bank of America Corporation

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

(Dollars in millions)

	Third Quarter 2005						Second Quarter 2005						First Quarter 2005
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	14,498	$	125	3.43	%	$	13,696	$	113	3.31	%	$	14,327	$	101	2.87	%
Federal funds sold and securities purchased under agreements to resell		176,650		1,359	3.07			185,835		1,252	2.70			147,855		893	2.43
Trading account assets		142,287		1,578	4.42			134,196		1,454	4.34			117,748		1,203	4.10
Securities		225,952		2,824	5.00			227,182		2,829	4.98			204,574		2,561	5.01
Loans and leases(1):
Residential mortgage		171,002		2,294	5.36			167,272		2,271	5.43			178,098		2,412	5.43
Credit card		55,271		1,651	11.85			52,474		1,481	11.32			51,310		1,373	10.85
Home equity lines		58,046		910	6.22			54,941		799	5.83			51,477		692	5.45
Direct/Indirect consumer		47,900		702	5.81			43,132		612	5.69			41,620		573	5.58
Other consumer(2)		6,715		170	10.05			6,968		155	8.96			7,305		158	8.75
Total consumer		338,934		5,727	6.72			324,787		5,318	6.56			329,810		5,208	6.37
Commercial - domestic		127,044		2,124	6.63			123,927		1,969	6.37			123,803		1,983	6.49
Commercial real estate		34,663		542	6.20			33,484		477	5.72			33,016		430	5.29
Commercial lease financing		20,402		239	4.69			20,446		252	4.93			20,745		260	5.01
Commercial - foreign		18,444		349	7.50			17,780		306	6.90			17,570		258	5.96
Total commercial		200,553		3,254	6.44			195,637		3,004	6.16			195,134		2,931	6.08
Total loans and leases		539,487		8,981	6.62			520,424		8,322	6.41			524,944		8,139	6.27
Other earning assets		38,745		542	5.57			37,194		512	5.52			35,466		455	5.19
Total earning assets(3)		1,137,619		15,409	5.39			1,118,527		14,482	5.19			1,044,914		13,352	5.15
Cash and cash equivalents		32,969						34,731						31,382
Other assets, less allowance for loan and lease losses		124,157						124,231						124,587
Total assets	$	1,294,745					$	1,277,489					$	1,200,883
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,853	$	56	0.62	%	$	38,043	$	52	0.54	%	$	37,000	$	35	0.39	%
NOW and money market deposit accounts		224,341		743	1.31			229,174		723	1.27			233,392		651	1.13
Consumer CDs and IRAs		130,975		1,048	3.17			127,169		974	3.07			118,989		769	2.62
Negotiable CDs, public funds and other time deposits		4,414		50	4.54			7,751		87	4.49			10,291		96	3.73
Total domestic interest-bearing deposits		395,583		1,897	1.90			402,137		1,836	1.83			399,672		1,551	1.57
Foreign interest-bearing deposits(4):
Banks located in foreign countries		19,707		273	5.50			25,546		335	5.26			22,084		316	5.81
Governments and official institutions		7,317		62	3.37			7,936		59	2.97			6,831		43	2.58
Time, savings and other		32,024		177	2.19			30,973		149	1.94			30,770		133	1.75
Total foreign interest-bearing deposits		59,048		512	3.44			64,455		543	3.38			59,685		492	3.35
Total interest-bearing deposits		454,631		2,409	2.10			466,592		2,379	2.04			459,357		2,043	1.80
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		339,980		3,325	3.88			323,916		2,677	3.32			276,483		1,969	2.89
Trading account liabilities		68,132		707	4.12			60,987		611	4.02			44,507		427	3.89
Long-term debt		99,576		995	4.00			97,360		974	4.00			97,126		841	3.46
Total interest-bearing liabilities(3)		962,319		7,436	3.07			948,855		6,641	2.81			877,473		5,280	2.43
Noninterest-bearing sources:
Noninterest-bearing deposits		178,140						174,001						168,062
Other liabilities		53,832						56,216						56,534
Shareholders’ equity		100,454						98,417						98,814
Total liabilities and shareholders’ equity	$	1,294,745					$	1,277,489					$	1,200,883
Net interest spread					2.32						2.38						2.72
Impact of noninterest-bearing sources					0.48						0.43						0.39
Net interest income/yield on earning assets			$	7,973	2.80	%			$	7,841	2.81	%			$	8,072	3.11	%

⁽¹⁾ Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

⁽²⁾ Includes consumer finance of $3,063 million, $3,212 million and $3,362 million in the third, second and first quarters of 2005, respectively; foreign consumer of $3,541 million, $3,505 million and $3,532 million in third, second and first quarters of 2005, respectively; and consumer lease financing of $111 million, $251 million and $411 million in the third, second and first quarters of 2005, respectively.

⁽³⁾ Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $91 million, $193 million and $437 million in the third, second and first quarters of 2005. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $239 million, $314 million and $154 million in the third, second and first quarters of 2005. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

⁽⁴⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

9

Bank of America Corporation

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis (continued)

(Dollars in millions)

	Fourth Quarter 2004						Third Quarter 2004						Second Quarter 2004
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	15,620	$	128	3.24	%	$	14,726	$	127	3.45	%	$	14,384	$	59	1.65	%
Federal funds sold and securities purchased under agreements to resell		149,226		712	1.90			128,339		484	1.50			124,383		413	1.33
Trading account assets		110,585		1,067	3.85			98,459		975	3.96			104,391		1,025	3.94
Securities		171,173		2,083	4.87			169,515		2,095	4.94			159,797		1,925	4.82
Loans and leases(1):
Residential mortgage		178,879		2,459	5.49			175,046		2,371	5.41			173,158		2,284	5.29
Credit card		49,366		1,351	10.88			45,818		1,265	10.98			43,160		1,167	10.88
Home equity lines		48,336		609	5.01			44,309		514	4.62			40,424		450	4.48
Direct/Indirect consumer		39,526		551	5.55			38,951		538	5.49			39,763		540	5.44
Other consumer(2)		7,557		153	8.07			7,693		152	7.91			8,142		169	8.32
Total consumer		323,664		5,123	6.31			311,817		4,840	6.19			304,647		4,610	6.07
Commercial - domestic		121,412		1,914	6.27			122,093		1,855	6.04			123,970		1,843	5.98
Commercial real estate		31,355		392	4.98			30,792		344	4.44			30,311		317	4.20
Commercial lease financing		20,204		254	5.01			20,125		233	4.64			20,086		237	4.72
Commercial - foreign		18,828		272	5.76			18,251		245	5.34			18,144		237	5.24
Total commercial		191,799		2,832	5.88			191,261		2,677	5.57			192,511		2,634	5.50
Total loans and leases		515,463		7,955	6.15			503,078		7,517	5.95			497,158		7,244	5.85
Other earning assets		35,937		457	5.08			34,266		460	5.33			38,407		494	5.17
Total earning assets(3)		998,004		12,402	4.96			948,383		11,658	4.90			938,520		11,160	4.77
Cash and cash equivalents		31,028						29,469						30,320
Other assets, less allowance for loan and lease losses		123,519						118,831						125,619
Total assets	$	1,152,551					$	1,096,683					$	1,094,459
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,927	$	36	0.39	%	$	36,823	$	35	0.38	%	$	35,864	$	31	0.34	%
NOW and money market deposit accounts		234,596		589	1.00			233,602		523	0.89			233,702		488	0.84
Consumer CDs and IRAs		109,243		711	2.59			101,250		668	2.63			93,017		587	2.54
Negotiable CDs, public funds and other time deposits		7,563		81	4.27			5,654		69	4.85			4,737		66	5.60
Total domestic interest-bearing deposits		388,329		1,417	1.45			377,329		1,295	1.37			367,320		1,172	1.28
Foreign interest-bearing deposits(4):
Banks located in foreign countries		17,953		275	6.11			17,864		307	6.83			18,945		287	6.10
Governments and official institutions		5,843		33	2.21			5,021		22	1.80			5,739		23	1.58
Time, savings and other		30,459		104	1.36			29,513		87	1.17			29,882		47	0.64
Total foreign interest-bearing deposits		54,255		412	3.02			52,398		416	3.16			54,566		357	2.63
Total interest-bearing deposits		442,584		1,829	1.64			429,727		1,711	1.58			421,886		1,529	1.46
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		252,384		1,543	2.43			226,025		1,152	2.03			235,701		1,019	1.74
Trading account liabilities		37,387		352	3.74			37,706		333	3.51			31,620		298	3.78
Long-term debt		99,588		724	2.91			98,361		626	2.54			96,395		563	2.34
Total interest-bearing liabilities(3)		831,943		4,448	2.13			791,819		3,822	1.92			785,602		3,409	1.74
Noninterest-bearing sources:
Noninterest-bearing deposits		167,352						158,151						160,419
Other liabilities		55,156						50,321						55,172
Shareholders’ equity		98,100						96,392						93,266
Total liabilities and shareholders' equity	$	1,152,551					$	1,096,683					$	1,094,459
Net interest spread					2.83						2.98						3.03
Impact of noninterest-bearing sources					0.35						0.32						0.28
Net interest income/yield on earning assets			$	7,954	3.18	%			$	7,836	3.30	%			$	7,751	3.31	%

⁽¹⁾ Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

⁽²⁾ Includes consumer finance of $3,473 million, $3,644 million and $3,828 million in the fourth, third and second quarters of 2004, respectively; foreign consumer of $3,523 million, $3,304 million and $3,256 million in the fourth, third and second quarters of 2004, respectively; and consumer lease financing of $561 million, $745 million and $1,058 million in the fourth, third and second quarters of 2004, respectively.

⁽³⁾ Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $496 million, $531 million and $658 million in the fourth, third and second quarters of 2004, respectively. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $155 million, $217 million and $333 million in the fourth, third and second quarters of 2004. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

⁽⁴⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

10

Bank of America Corporation

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

(Dollars in millions)

	Third Quarter 2005							Second Quarter 2005							First Quarter 2005
	Average Balance		Interest Income/ Expenses			Yield/ Rate		Average Balance		Interest Income/ Expenses			Yield/ Rate		Average Balance		Interest Income/ Expenses		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (2)	$	14,498	$	126		3.46	%	$	13,696	$	114		3.33	%	$	14,327	$	101	2.88	%
Federal funds sold and securities purchased under agreements to resell (2)		176,650		1,459		3.29			185,835		1,267		2.73			147,855		851	2.32
Trading account assets		142,287		1,578		4.42			134,196		1,454		4.34			117,748		1,203	4.10
Securities(2)		225,952		2,823		4.99			227,182		2,829		4.98			204,574		2,563	5.01
Loans and leases(3):
Residential mortgage (2)		171,002		2,301		5.37			167,272		2,268		5.43			178,098		2,409	5.43
Credit card		55,271		1,651		11.85			52,474		1,481		11.32			51,310		1,373	10.85
Home equity lines		58,046		910		6.22			54,941		799		5.83			51,477		692	5.45
Direct/Indirect consumer		47,900		702		5.81			43,132		612		5.69			41,620		573	5.58
Other consumer(4)		6,715		170		10.05			6,968		155		8.96			7,305		158	8.75
Total consumer		338,934		5,734		6.73			324,787		5,315		6.56			329,810		5,205	6.37
Commercial - domestic (2)		127,044		1,897		5.93			123,927		1,721		5.57			123,803		1,539	5.04
Commercial real estate		34,663		542		6.20			33,484		477		5.72			33,016		430	5.29
Commercial lease financing		20,402		239		4.69			20,446		252		4.93			20,745		260	5.01
Commercial - foreign(2)		18,444		349		7.50			17,780		305		6.88			17,570		257	5.94
Total commercial		200,553		3,027		5.99			195,637		2,755		5.65			195,134		2,486	5.16
Total loans and leases		539,487		8,761		6.46			520,424		8,070		6.22			524,944		7,691	5.92
Other earning assets		38,745		571		5.87			37,194		555		5.98			35,466		506	5.77
Total earning assets - Excluding hedge impact		1,137,619		15,318		5.36			1,118,527		14,289		5.12			1,044,914		12,915	4.98
Net derivative income (expense) on assets				91							193							437
Total earning assets - Including hedge impact		1,137,619		15,409		5.39			1,118,527		14,482		5.19			1,044,914		13,352	5.15
Cash and cash equivalents		32,969							34,731							31,382
Other assets, less allowance for loan and lease losses		124,157							124,231							124,587
Total assets	$	1,294,745						$	1,277,489						$	1,200,883
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,853	$	56		0.62	%	$	38,043	$	52		0.54	%	$	37,000	$	35	0.39	%
NOW and money market deposit accounts (2)		224,341		743		1.31			229,174		722		1.26			233,392		634	1.10
Consumer CDs and IRAs (2)		130,975		889		2.69			127,169		786		2.48			118,989		649	2.21
Negotiable CDs, public funds and other time deposits (2)		4,414		33		3.02			7,751		63		3.22			10,291		67	2.61
Total domestic interest-bearing deposits		395,583		1,721		1.73			402,137		1,623		1.62			399,672		1,385	1.41
Foreign interest-bearing deposits(5):
Banks located in foreign countries (2)		19,707		259		5.21			25,546		270		4.24			22,084		199	3.66
Governments and official institutions		7,317		62		3.37			7,936		59		2.97			6,831		43	2.58
Time, savings and other		32,024		177		2.19			30,973		149		1.94			30,770		133	1.75
Total foreign interest-bearing deposits		59,048		498		3.35			64,455		478		2.98			59,685		375	2.55
Total interest-bearing deposits		454,631		2,219		1.94			466,592		2,101		1.81			459,357		1,760	1.55
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings(2)		339,980		3,085		3.60			323,916		2,478		3.07			276,483		1,837	2.69
Trading account liabilities		68,132		707		4.12			60,987		611		4.02			44,507		427	3.89
Long-term debt (2)		99,576		1,186		4.76			97,360		1,136		4.67			97,126		1,102	4.54
Total interest-bearing liabilities - Excluding hedge impact		962,319		7,197		2.97			948,855		6,326		2.67			877,473		5,126	2.36
Net derivative (income) expense on liabilities				239							315							154
Total interest-bearing liabilities - Including hedge impact		962,319		7,436		3.07			948,855		6,641		2.81			877,473		5,280	2.43
Noninterest-bearing sources:
Noninterest-bearing deposits		178,140							174,001							168,062
Other liabilities		53,832							56,216							56,534
Shareholders’ equity		100,454							98,417							98,814
Total liabilities and shareholders’ equity	$	1,294,745						$	1,277,489						$	1,200,883
Net interest spread						2.39							2.45						2.62
Impact of noninterest-bearing sources						0.46							0.40						0.38
Net interest income/yield on earning assets - excluding hedge impact			$	8,121		2.85				$	7,963		2.85				$	7,789	3.00
Net impact of derivative hedge income/(expense)				(148	)	(0.05	)				(122	)	(0.04	)				283	0.11
Net interest income/yield on earning assets			$	7,973		2.80	%			$	7,841		2.81	%			$	8,072	3.11	%

⁽¹⁾ This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities.

⁽²⁾ Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $(1) million, federal funds sold and securities purchased under agreements to resell $(100) milllion, securities $1 million, residential mortgage $(7) million, commercial—domestic $227 million and other earning assets $(29) million in the three months ended September 30, 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on consumer CDs and IRAs $159 million, negotiable CDs, public funds and other time deposits $17 million, banks located in foreign countries $14 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $240 million and long-term debt $(191) million in the three months ended September 30, 2005.

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $(1) million, federal funds sold and securities purchased under agreements to resell $(15) milllion, residential mortgage $3 million, commercial - domestic $248 million, commercial - foreign $1 million and other earning assets $(43) million in the three months ended June 30, 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $1 million, consumer CDs and IRAs $188 million, negotiable CDs, public funds and other time deposits $24 million, banks located in foreign countries $65 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $199 million and long-term debt $(162) million in the three months ended June 30, 2005.

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on federal funds sold and securities purchased under agreements to resell $42 million, securities $(2) million, residential mortgage $3 million, commercial - domestic $444 million, commercial - foreign $1 million and other earning assets $(51) million in the three months ended March 31, 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $17 million, consumer CDs and IRAs $120 million, negotiable CDs, public funds and other time deposits $29 million, banks located in foreign countries $117 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $132 million and long-term debt $(261) million in the three months ended March 31, 2005.

⁽³⁾ Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

⁽⁴⁾ Includes consumer finance of $3,063 million, $3,212 million and $3,362 million in the third, second and first quarters of 2005, respectively; foreign consumer of $3,541 million, $3,505 million and $3,532 million in third, second and first quarters of 2005, respectively; and consumer lease financing of $111 million, $251 million and $411 million in the third, second and first quarters of 2005, respectively.

⁽⁵⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

11

Bank of America Corporation

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

(Dollars in millions) 

	Fourth Quarter 2004						Third Quarter 2004						Second Quarter 2004
	Average Balance		Interest Income/ Expenses		Yield/ Rate		Average Balance		Interest Income/ Expenses		Yield/ Rate		Average Balance		Interest Income/ Expenses		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (2)	$	15,620	$	119	3.01	%	$	14,726	$	127	3.44	%	$	14,384	$	59	1.65	%
Federal funds sold and securities purchased under agreements to resell (2)		149,226		674	1.80			128,339		421	1.31			124,383		303	0.98
Trading account assets		110,585		1,067	3.85			98,459		975	3.96			104,391		1,025	3.94
Securities(2)		171,173		2,084	4.87			169,515		2,103	4.96			159,797		1,929	4.83
Loans and leases(3):
Residential mortgage (2)		178,879		2,447	5.46			175,046		2,389	5.45			173,158		2,269	5.25
Credit card		49,366		1,351	10.88			45,818		1,265	10.98			43,160		1,167	10.88
Home equity lines		48,336		609	5.01			44,309		514	4.62			40,424		450	4.48
Direct/Indirect consumer		39,526		551	5.55			38,951		538	5.49			39,763		540	5.44
Other consumer(4)		7,557		153	8.07			7,693		152	7.91			8,142		169	8.32
Total consumer		323,664		5,111	6.29			311,817		4,858	6.21			304,647		4,595	6.05
Commercial - domestic (2)		121,412		1,418	4.65			122,093		1,300	4.24			123,970		1,237	4.02
Commercial real estate		31,355		392	4.98			30,792		344	4.44			30,311		317	4.20
Commercial lease financing		20,204		254	5.01			20,125		233	4.64			20,086		237	4.72
Commercial - foreign(2)		18,828		271	5.73			18,251		242	5.29			18,144		235	5.19
Total commercial		191,799		2,335	4.85			191,261		2,119	4.41			192,511		2,026	4.23
Total loans and leases		515,463		7,446	5.76			503,078		6,977	5.53			497,158		6,621	5.35
Other earning assets		35,937		516	5.73			34,266		524	6.07			38,407		564	5.90
Total earning assets - Excluding hedge impact		998,004		11,906	4.76			948,383		11,127	4.68			938,520		10,501	4.49
Net derivative income (expense) on assets				496						531						659
Total earning assets- Including hedge impact		998,004		12,402	4.96			948,383		11,658	4.90			938,520		11,160	4.77
Cash and cash equivalents		31,028						29,469						30,320
Other assets, less allowance for loan and lease losses		123,519						118,831						125,619
Total assets	$	1,152,551					$	1,096,683					$	1,094,459
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,927	$	36	0.39	%	$	36,823	$	35	0.38	%	$	35,864	$	31	0.34	%
NOW and money market deposit accounts (2)		234,596		547	0.93			233,602		475	0.81			233,702		412	0.71
Consumer CDs and IRAs (2)		109,243		539	1.96			101,250		447	1.76			93,017		350	1.51
Negotiable CDs, public funds and other time deposits (2)		7,563		38	2.03			5,654		20	1.43			4,737		13	1.09
Total domestic interest-bearing deposits		388,329		1,160	1.19			377,329		977	1.03			367,320		806	0.88
Foreign interest-bearing deposits(5):
Banks located in foreign countries (2)		17,953		157	3.47			17,864		160	3.55			18,945		138	2.95
Governments and official institutions		5,843		33	2.21			5,021		22	1.80			5,739		23	1.58
Time, savings and other		30,459		104	1.36			29,513		87	1.17			29,882		47	0.64
Total foreign interest-bearing deposits		54,255		294	2.15			52,398		269	2.04			54,566		208	1.54
Total interest-bearing deposits		442,584		1,454	1.31			429,727		1,246	1.15			421,886		1,014	0.97
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (2)		252,384		1,386	2.18			226,025		987	1.74			235,701		769	1.31
Trading account liabilities		37,387		352	3.74			37,706		333	3.51			31,620		298	3.78
Long-term debt (2)		99,588		1,101	4.42			98,361		1,038	4.22			96,395		995	4.13
Total interest-bearing liabilities - Excluding hedge impact		831,943		4,293	2.05			791,819		3,604	1.81			785,602		3,076	1.57
Net derivative (income) expense on liabilities				155						218						333
Total interest-bearing liabilities - Including hedge impact		831,943		4,448	2.13			791,819		3,822	1.92			785,602		3,409	1.74
Noninterest-bearing sources:
Noninterest-bearing deposits		167,352						158,151						160,419
Other liabilities		55,156						50,321						55,172
Shareholders’ equity		98,100						96,392						93,266
Total liabilities and shareholders’ equity	$	1,152,551					$	1,096,683					$	1,094,459
Net interest spread					2.71						2.87						2.92
Impact of noninterest-bearing sources					0.33						0.30						0.25
Net interest income/yield on earning assets - excluding hedge impact			$	7,613	3.04				$	7,523	3.17				$	7,425	3.17
Net impact of derivative hedge income/(expense)				341	0.14					313	0.13					326	0.14
Net interest income/yield on earning assets			$	7,954	3.18	%			$	7,836	3.30	%			$	7,751	3.31	%

⁽¹⁾ This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities.

⁽²⁾ Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $9 million, federal funds sold and securities purchased under agreements to resell $38 milllion, securities $(1) million, residential mortgage $12 million, commercial - domestic $496 million, commercial - foreign $1 million and other earning assets $(59) million in the three months ended December 31, 2004. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $42 million, consumer CDs and IRAs $172 million, negotiable CDs, public funds and other time deposits $43 million, banks located in foreign countries $118 million, federal funds purchased, securities sold under agreements to repurchase and other other short-term borrowings $157 million and long-term debt $(377) million in the three months ended December 31, 2004.

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on federal funds sold and securities purchased under agreements to resell $63 million, securities $(8) million, residential mortgage $(18) million, commercial - domestic $555 million, commercial - foreign $3 million and other earning assets $(64) million in the three months ended September 30, 2004. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $48 million, consumer CDs and IRAs $221 million, negotiable CDs, public funds and other time deposits $49 million, banks located in foreign countries $147 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $165 million and long-term debt $(412) million in the three months ended September 30, 2004.

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on federal funds sold and securities purchased under agreements to resell $110 million, securities $(4) million, residential mortgage $15 million, commercial - domestic $606 million, commercial - foreign $2 million and other earning assets $(70) million in the three months ended June 30, 2004. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $76 million, consumer CDs and IRAs $237 million, negotiable CDs, public funds and other time deposits $53 million, banks located in foreign countries $149 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $250 million and long-term debt $(432) million in the three months ended June 30, 2004.

⁽³⁾ Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis.

⁽⁴⁾ Includes consumer finance of $3,473 million, $3,644 million and $3,828 million in the fourth, third and second quarters of 2004, respectively; foreign consumer of $3,523 million, $3,304 million and $3,256 million in the fourth, third and second quarters of 2004, respectively; and consumer lease financing of $561 million, $745 million and $1,058 million in the fourth, third and second quarters of 2004, respectively.

⁽⁵⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

12

Bank of America Corporation

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

(Dollars in millions)

	Nine Months Ended September 30
	2005						2004
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	14,175	$	340	3.20	%	$	13,796	$	234	2.27	%
Federal funds sold and securities purchased under agreements to resell		170,219		3,504	2.75			122,184		1,331	1.45
Trading account assets		131,500		4,234	4.30			102,612		3,026	3.93
Securities		219,314		8,214	4.99			143,119		5,243	4.88
Loans and leases(1):
Residential mortgage		172,098		6,977	5.41			163,410		6,615	5.40
Credit card		53,033		4,506	11.36			41,443		3,302	10.64
Home equity lines		54,845		2,401	5.85			36,400		1,226	4.50
Direct/Indirect consumer		44,240		1,886	5.70			37,591		1,542	5.48
Other consumer(2)		6,995		483	9.24			7,771		441	7.58
Total consumer		331,211		16,253	6.55			286,615		13,126	6.11
Commercial - domestic		124,937		6,076	6.50			112,371		5,209	6.19
Commercial real estate		33,727		1,449	5.75			26,987		871	4.31
Commercial lease financing		20,529		751	4.88			16,570		565	4.55
Commercial - foreign		17,935		913	6.81			15,725		577	4.90
Total commercial		197,128		9,189	6.23			171,653		7,222	5.62
Total loans and leases		528,339		25,442	6.43			458,268		20,348	5.93
Other earning assets		37,146		1,509	5.43			34,197		1,357	5.30
Total earning assets(3)		1,100,693		43,243	5.25			874,176		31,539	4.82
Cash and cash equivalents		33,033						27,665
Other assets, less allowance for loan and lease losses		124,324						106,593
Total assets	$	1,258,050					$	1,008,434
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,961	$	143	0.52	%	$	32,963	$	83	0.33	%
NOW and money market deposit accounts		228,936		2,117	1.24			207,808		1,332	0.86
Consumer CDs and IRAs		125,755		2,791	2.97			89,911		1,822	2.71
Negotiable CDs, public funds and other time deposits		7,463		232	4.15			5,444		209	5.12
Total domestic interest-bearing deposits		399,115		5,283	1.77			336,126		3,446	1.37
Foreign interest-bearing deposits(4):
Banks located in foreign countries		22,437		924	5.51			18,585		765	5.50
Governments and official institutions		7,363		165	2.99			5,153		64	1.67
Time, savings and other		31,261		459	1.96			26,826		171	0.85
Total foreign interest-bearing deposits		61,061		1,548	3.39			50,564		1,000	2.64
Total interest-bearing deposits		460,176		6,831	1.98			386,690		4,446	1.54
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		313,692		7,971	3.40			219,222		2,891	1.76
Trading account liabilities		57,962		1,745	4.03			34,634		965	3.72
Long-term debt		98,030		2,810	3.82			91,229		1,680	2.46
Total interest-bearing liabilities(3)		929,860		19,357	2.78			731,775		9,982	1.82
Noninterest-bearing sources:
Noninterest-bearing deposits		173,438						145,268
Other liabilities		55,518						51,881
Shareholders’ equity		99,234						79,510
Total liabilities and shareholders’ equity	$	1,258,050					$	1,008,434
Net interest spread					2.47						3.00
Impact of noninterest-bearing sources					0.43						0.29
Net interest income/yield on earning assets			$	23,886	2.90	%			$	21,557	3.29	%

⁽¹⁾ Nonperforming loans are included in the respective average loan balances. Income on such nonperforming loans is recognized on a cash basis.

⁽²⁾ Includes consumer finance of $3,212 million and $3,823 million; foreign consumer of $3,526 million and $2,851 million; and consumer lease financing of $257 million and $1,097 million for the nine months ended September 30, 2005 and 2004.

⁽³⁾ Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $721 million and $1,904 million in the nine months ended September 30, 2005 and 2004. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets.
Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $708 million and $733 million in the nine months ended September 30, 2005 and 2004. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

⁽⁴⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

13

Bank of America Corporation

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

(Dollars in millions)

	Nine Months Ended September 30
	2005						2004
	Average Balance		Interest Income/ Expenses		Yield/ Rate		Average Balance		Interest Income/ Expenses		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (2)	$	14,175	$	342	3.23	%	$	13,796	$	234	2.26	%
Federal funds sold and securities purchased under agreements to resell (2)		170,219		3,577	2.81			122,184		985	1.08
Trading account assets		131,500		4,234	4.30			102,612		3,026	3.93
Securities(2)		219,314		8,215	4.99			143,119		5,259	4.90
Loans and leases(3):
Residential mortgage (2)		172,098		6,978	5.41			163,410		6,602	5.39
Credit card		53,033		4,506	11.36			41,443		3,302	10.64
Home equity lines		54,845		2,401	5.85			36,400		1,226	4.50
Direct/Indirect consumer		44,240		1,886	5.70			37,591		1,542	5.48
Other consumer(4)		6,995		483	9.24			7,771		441	7.58
Total consumer		331,211		16,254	6.56			286,615		13,113	6.11
Commercial - domestic (2)		124,937		5,157	5.52			112,371		3,452	4.10
Commercial real estate		33,727		1,449	5.75			26,987		871	4.31
Commercial lease financing		20,529		751	4.88			16,570		565	4.55
Commercial - foreign(2)		17,935		911	6.79			15,725		570	4.84
Total commercial		197,128		8,268	5.61			171,653		5,458	4.25
Total loans and leases		528,339		24,522	6.20			458,268		18,571	5.41
Other earning assets (2)		37,146		1,632	5.87			34,197		1,560	6.09
Total earning assets - Excluding hedge impact		1,100,693		42,522	5.16			874,176		29,635	4.52
Net derivative income (expense) on assets				721						1,904
Total earning assets - Including hedge impact		1,100,693		43,243	5.25			874,176		31,539	4.82
Cash and cash equivalents		33,033						27,665
Other assets, less allowance for loan and lease losses		124,324						106,593
Total assets	$	1,258,050					$	1,008,434
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,961	$	143	0.52	%	$	32,963	$	83	0.34	%
NOW and money market deposit accounts (2)		228,936		2,099	1.24			207,808		1,132	0.73
Consumer CDs and IRAs (2)		125,755		2,324	2.47			89,911		1,121	1.66
Negotiable CDs, public funds and other time deposits (2)		7,463		162	2.90			5,444		54	1.33
Total domestic interest-bearing deposits		399,115		4,728	1.59			336,126		2,390	0.96
Foreign interest-bearing deposits(5):
Banks located in foreign countries (2)		22,437		728	4.34			18,585		382	2.75
Governments and official institutions		7,363		165	2.99			5,153		64	1.67
Time, savings and other		31,261		459	1.96			26,826		171	0.85
Total foreign interest-bearing deposits		61,061		1,352	2.96			50,564		617	1.63
Total interest-bearing deposits		460,176		6,080	1.78			386,690		3,007	1.04
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (2)		313,692		7,400	3.15			219,222		2,360	1.44
Trading account liabilities		57,962		1,745	4.03			34,634		965	3.72
Long-term debt (2)		98,030		3,424	4.66			91,229		2,917	4.26
Total interest-bearing liabilities - Excluding hedge impact		929,860		18,649	2.69			731,775		9,249	1.69
Net derivative (income) expense on liabilities		0		708						733
Total interest-bearing liabilities - Including hedge impact		929,860		19,357	2.79			731,775		9,982	1.82
Noninterest-bearing sources:
Noninterest-bearing deposits		173,438						145,268
Other liabilities		55,518						51,881
Shareholders’ equity		99,234						79,510
Total liabilities and shareholders’ equity	$	1,258,050					$	1,008,434
Net interest spread					2.47						2.83
Impact of noninterest-bearing sources					0.43						0.29
Net interest income/yield on earning assets - excluding hedge impact			$	23,873	2.90	%			$	20,386	3.12	%
Net impact of derivative hedge income/(expense)				13	0.00					1,171	0.17
Net interest income/yield on earning assets			$	23,886	2.90	%			$	21,557	3.29	%

⁽¹⁾ This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities.

⁽²⁾ Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $(2) million, federal funds sold and securites purchased under agreements to resell $(73) milllion, securities $(1) million, residential mortgage $(1) million, commercial - domestic $919 million, commercial - foreign $2 million and other earning assets $(123) million in the nine months ended September 30, 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $18 million, consumer CDs and IRAs $467 million, negotiable CDs, public funds and other time deposits $70 million, banks located in foreign countries $196 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $571 million and long-term debt $(614) million in the nine months ended September 30, 2005.

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on federal funds sold and securities purchased under agreements to resell $346 million, securities $(16) million, residential mortgage $13 million, commercial - domestic $1,757 million, commercial - foreign $7 million and other earning assets $(203) million in the nine months ended September 30, 2004. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $200 million, consumer CDs and IRAs $701 million, negotiable CDs, public funds and other time deposits $155 million, banks located in foreign countries $383 million, federal funds purchased, securities sold under agreements to repurchase and other short term borrowings $531 million and long-term debt $(1,237) million in the nine months ended September 30, 2004.

⁽³⁾ Nonperforming loans are included in the respective average loan balances. Income on such nonperforming loans is recognized on a cash basis.

⁽⁴⁾ Includes consumer finance of $3,212 million and $3,823 million; foreign consumer of $3,526 million and $2,851 million; and consumer lease financing of $257 million and $1,097 million for the nine months ended September 30, 2005 and 2004.

⁽⁵⁾ Primarily consists of time deposits in denominations of $100,000 or more.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

14

Bank of America Corporation

Business Segment View

Net Income

Third Quarter 2005

Revenue*

Third Quarter 2005

* Fully taxable-equivalent basis

15

Bank of America Corporation

Global Consumer and Small Business Banking Segment Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Net interest income(2)	$	12,679		$	11,610		$	4,270		$	4,142		$	4,267		$	4,301		$	4,346
Noninterest income
Service charges		3,735			3,137			1,386			1,244			1,105			1,192			1,159
Mortgage banking income		741			384			229			238			274			206			(199	)
Card income		4,049			3,043			1,447			1,372			1,230			1,316			1,194
All other income		243			(139	)		70			63			110			105			78
Total noninterest income		8,768			6,425			3,132			2,917			2,719			2,819			2,232
Total revenue(2)	$	21,447		$	18,035		$	7,402		$	7,059		$	6,986		$	7,120		$	6,578
Provision for credit losses	$	2,972		$	2,088		$	1,107		$	1,155		$	710		$	1,244		$	1,012
Net income		5,394			4,361			1,884			1,591			1,919			1,609			1,503
Shareholder value added		3,108			2,517			1,113			822			1,173			807			731
Return on average equity		21.94	%		22.40	%		22.81	%		19.29	%		23.77	%		18.75	%		18.30	%
Efficiency ratio(2)		46.85			50.91			44.96			48.34			47.35			47.37			50.43
Selected Average Balance Sheet Components
Total loans and leases	$	142,260		$	116,822		$	145,715		$	141,353		$	139,644		$	138,010		$	134,201
Total deposits		305,848			277,321			310,495			306,399			300,541			301,829			306,367
Total earning assets		303,542			284,234			304,783			300,668			305,179			311,991			315,409
Period End (in billions)
Mortgage servicing portfolio	$	288.5		$	268.5		$	288.5		$	280.1		$	275.5		$	273.1		$	268.5
Mortgage originations:
Retail		45.6			44.9			18.6			15.1			11.9			12.7			11.7
Wholesale		20.5			24.3			8.9			6.0			5.6			5.7			5.2

⁽¹⁾ Global Consumer and Small Business Banking's most significant product groups are Card Services, Consumer Real Estate and Consumer Deposit Products.

⁽²⁾ Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

16

Bank of America Corporation

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with 14.3 million subscribers.

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

7.0 million active bill pay users paid $33.1 billion worth of bills this quarter. The number of customers who sign up and use Bank of America's Bill Pay Service continues to far surpass that of any other financial institution.

Currently, approximately 316 companies are presenting 17.4 million e-bills per quarter.

17

Bank of America Corporation

Card Services Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Consumer Credit Card
Outstandings
On-balance sheet (Period end)	$	56,079		$	47,554		$	56,079		$	53,863		$	51,012		$	51,726		$	47,554
Managed (Period end)		59,701			55,432			59,701			59,283			57,920			58,629			55,432
On-balance sheet (Average)		53,033			41,443			55,271			52,474			51,310			49,366			45,818
Managed (Average)		58,821			48,231			59,762			58,537			58,145			56,444			54,648
Managed Income Statement
Total revenue	$	7,009		$	5,786		$	2,428		$	2,338		$	2,243		$	2,354		$	2,267
Provision for credit losses (2)		3,080			2,220			1,059			1,204			817			1,335			994
Noninterest expense		2,031			1,472			635			720			676			700			544
Income before income taxes	$	1,898		$	2,094		$	734		$	414		$	750		$	319		$	729
Shareholder Value Added	$	859		$	1,048		$	335		$	143		$	381		$	89		$	403
Merchant Acquiring Business
Processing volume (millions)		251,337			69,710			91,321			84,262			75,754			75,383			24,898
Total transactions (millions)		5,358			1,025			1,906			1,832			1,620			1,756			374
Consumer Credit Card
Credit Quality
On-balance sheet
Charge-offs $	$	2,286		$	1,614		$	772		$	774		$	740		$	691		$	586
Charge-offs %		5.76	%		5.20	%		5.55	%		5.91	%		5.85	%		5.57	%		5.09	%
Managed
Losses $	$	2,657		$	1,992		$	864		$	909		$	884		$	837		$	753
Losses %		6.04	%		5.52	%		5.74	%		6.23	%		6.17	%		5.90	%		5.48	%
Managed delinquency %
30+		n/a			n/a			4.59	%		4.25	%		4.20	%		4.37	%		4.30	%
90+		n/a			n/a			2.17			1.96			2.10			2.13			1.98

n/a = not applicable

⁽¹⁾ Card Services includes Consumer and Small Business Credit Card and Merchant Services.

⁽²⁾ Includes $210 million for the nine months ended September 30, 2005, and three months ended June 30, 2005, and $165 million for the three months ended December 31, 2004 related to minimum payment requirements.

Represents financial statement presentation with certain reclassifications to reflect securitization activity.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

18

Bank of America Corporation

Global Business and Financial Services Segment Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Net interest income(2)	$	5,761		$	4,673		$	1,959		$	1,896		$	1,906		$	1,861		$	1,780
Noninterest income
Service charges		1,106			925			377			362			367			362			373
Investment & brokerage services		161			117			64			49			48			51			48
Investment banking income		97			83			41			34			22			49			25
Equity investment gains		60			37			34			8			18			15			6
Card income		80			54			28			26			26			29			22
Trading account profits		110			91			44			36			30			37			47
All other income		885			553			307			272			306			314			218
Total noninterest income		2,499			1,860			895			787			817			857			739
Total revenue(2)	$	8,260		$	6,533		$	2,854		$	2,683		$	2,723		$	2,718		$	2,519
Provision for credit losses	$	(154	)	$	(156	)	$	79		$	(189	)	$	(44	)	$	(286	)	$	(236	)
Net income		3,427			2,629			1,102			1,226			1,099			1,215			1,190
Shareholder value added		1,127			874			333			466			328			423			400
Return on average equity		15.71	%		15.77	%		15.13	%		17.00	%		15.03	%		16.15	%		15.86	%
Efficiency ratio(2)		37.17			39.51			36.85			37.78			36.92			37.43			36.58
Selected Average Balance
Sheet Components
Total loans and leases	$	177,264		$	146,347		$	183,937		$	176,371		$	171,347		$	167,741		$	164,811
Total deposits		106,740			89,063			107,963			106,625			105,607			105,737			102,252
Total earning assets		188,796			154,844			195,735			188,019			182,490			178,582			175,381

⁽¹⁾ Global Business and Financial Services major businesses are Global Treasury Services, Middle Market Banking, Business Banking, Commercial Real Estate Banking, Leasing, Business Capital, Dealer Financial Services and Latin America.

⁽²⁾ Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

19

Bank of America Corporation

Global Capital Markets and Investment Banking Segment Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Net interest income(2)	$	2,571		$	3,101		$	772		$	868		$	931		$	957		$	952
Noninterest income
Service charges		868			967			293			293			282			320			343
Investment & brokerage services		599			526			198			208			193			179			163
Investment banking income		1,248			1,333			491			407			350			449			420
Equity investment gains		160			49			39			5			116			9			31
Card income		117			115			44			40			33			36			42
Trading account profits		1,448			790			484			258			706			233			136
All other income		52			(29	)		2			35			15			11			(21	)
Total noninterest income		4,492			3,751			1,551			1,246			1,695			1,237			1,114
Total revenue(2)	$	7,063		$	6,852		$	2,323		$	2,114		$	2,626		$	2,194		$	2,066
Provision for credit losses	$	(236	)	$	(247	)	$	(69	)	$	(60	)	$	(107	)	$	(198	)	$	(152	)
Net income		1,613			1,335			434			449			730			589			471
Shareholder value added		808			570			163			185			460			303			185
Return on average equity		21.11	%		18.45	%		16.90	%		17.91	%		28.46	%		21.73	%		17.34	%
Efficiency ratio(2)		69.03			73.81			73.86			72.10			62.30			69.46			72.99
Selected Average Balance
Sheet Components
Total loans and leases	$	32,865		$	33,889		$	32,280		$	31,647		$	34,693		$	33,896		$	35,370
Total deposits		84,207			72,609			83,042			86,907			82,667			81,078			72,224
Total earning assets		355,125			265,360			371,229			374,277			319,299			305,976			270,033

⁽¹⁾ Global Capital Markets and Investment Banking offers clients a comprehensive range of global capabilities through three financial services: Global Investment Banking, Global Credit Products and Global Treasury Services.

⁽²⁾ Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

20

Bank of America Corporation

Global Capital Markets and Investment Banking

(Dollars in millions)

	Year-to-Date September 30					Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004			Third Quarter 2004
	2005		2004
Revenue
Trading-related revenue:
Debt	$	2,069	$	2,358		$	711		$	482	$	876	$	609		$	580
Equity		965		613			363			265		337		249			193
Other		148		(65	)		(78	)		130		96		(35	)		(36	)
Total market-based trading related revenue		3,182		2,906			996			877		1,309		823			737
Investment banking fees:
Debt		828		956			308			271		249		309			313
Equity		188		220			94			57		37		83			54
Mergers and acquisitions		223		137			89			73		61		52			47
Total investment banking		1,239		1,313			491			401		347		444			414
Other		405		111			106			140		159		74			36
Capital Markets Revenue		4,826		4,330			1,593			1,418		1,815		1,341			1,187
Other revenue:
Credit-related revenue		671		880			195			198		278		271			293
Global treasury services		1,651		1,631			539			548		564		583			587
Total other revenue		2,322		2,511			734			746		842		854			880
Total revenue including debt securities gains	$	7,148	$	6,841		$	2,327		$	2,164	$	2,657	$	2,195		$	2,067

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

21

Bank of America Corporation

Global Capital Markets and Investment Banking

(Dollars in millions)

	Year-to-Date September 30					Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004			Third Quarter 2004
	2005		2004
Trading-related Revenue and Equity Commissions
Net interest income(1)	$	1,144	$	1,622		$	316		$	414	$	414	$	417		$	448
Trading account profits		1,448		790			484			258		706		233			136
Total trading-related revenue		2,592		2,412			800			672		1,120		650			584
Equity commissions(2)		590		494			196			205		189		173			153
Total	$	3,182	$	2,906		$	996		$	877	$	1,309	$	823		$	737
Trading-related revenue by product and equity commissions
Fixed income	$	894	$	1,264		$	336		$	107	$	451	$	283		$	299
Interest rate(1)		590		572			176			185		229		95			118
Foreign exchange		585		521			199			190		196		231			163
Equities		375		120			167			60		148		75			40
Equity commissions(2)		590		494			196			205		189		173			153
Commodities		53		12			(35	)		67		21		33			18
Market-based trading-related revenue and equity commissions		3,087		2,983			1,039			814		1,234		890			791
Credit portfolio hedges(3)		95		(77	)		(43	)		63		75		(67	)		(54	)
Total	$	3,182	$	2,906		$	996		$	877	$	1,309	$	823		$	737
	Year-to-Date September 30					Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004			Third Quarter 2004
	2005		2004
Investment Banking Income
Securities underwriting	$	583	$	711		$	245		$	181	$	157	$	209		$	219
Syndications		341		381			104			125		112		140			128
Advisory services		305		216			135			95		75		94			66
Other		19		25			7			6		6		7			7
Total investment banking income	$	1,248	$	1,333		$	491		$	407	$	350	$	450		$	420

⁽¹⁾ Fully taxable-equivalent basis

⁽²⁾ Included in Investment and Brokerage Services in the Consolidated Statement of Income.

⁽³⁾ Includes credit default swaps and related products used for credit risk management.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

22

Bank of America Corporation

Global Capital Markets & Investment Banking Strategic Progress Continues

Banc of America Securities Market Share and Industry Ranking

Source: Thomson Financial except Syndicated Loans and Leveraged Loans from Loan Pricing Corporation.

Significant US market share gains

Banc of America Securities increased market share in M&A, high yield and investment grade.

• #1 in syndicated loans and leveraged loans, ranked by number of deals

• #1 in leveraged loans

• #1 in high yield

• Investment grade rank rose to #4 from #8 in YTD 04

• Top 5 rankings in:

Leveraged loans

High yield

Syndicated loans

Investment grade

Mortgage-backed securities

23

Bank of America Corporation

Global Wealth and Investment Management Segment Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Net interest income(2)	$	2,777		$	2,034		$	926		$	910		$	941		$	834		$	757
Noninterest income
Service charges		65			61			23			21			21			21			21
Investment & brokerage services		2,334			1,962			788			783			763			767			760
Equity investment gains		96			3			31			65			—			1			1
Trading account profits		71			62			20			19			32			23			23
All other income		122			130			47			38			37			35			43
Total noninterest income		2,688			2,218			909			926			853			847			848
Total revenue(2)	$	5,465		$	4,252		$	1,835		$	1,836		$	1,794		$	1,681		$	1,605
Provision for credit losses	$	(6	)	$	(16	)	$	1		$	(9	)	$	2		$	(4	)	$	(18	)
Net income		1,752			1,122			583			592			577			483			476
Shareholder value added		985			527			326			330			329			228			236
Return on average equity		23.42	%		19.33	%		23.23	%		23.24	%		23.79	%		19.38	%		20.21	%
Efficiency ratio(2)		50.03			58.86			49.85			50.04			50.20			55.23			54.40
Selected Average Balance
Sheet Components
Total loans and leases	$	52,983		$	42,749		$	55,175		$	52,967		$	50,759		$	47,956		$	45,654
Total deposits		116,140			76,527			116,068			118,234			114,098			102,489			87,909
Total earning assets		118,189			78,662			117,810			120,474			116,263			104,929			90,135
Period End (in billions)
Assets under management	$	457.4		$	429.5		$	457.4		$	442.8		$	433.4		$	451.5		$	429.5
Client brokerage assets		155.6			141.9			155.6			150.9			150.7			149.9			141.9
Assets in custody		96.1			104.0			96.1			101.7			100.8			107.0			104.0
Total client assets	$	709.1		$	675.4		$	709.1		$	695.4		$	684.9		$	708.4		$	675.4

⁽¹⁾ Global Wealth and Investment Management services clients through five major businesses: Premier Banking, Banc of America Investments, The Private Bank, Columbia Management Group and Other Services.

⁽²⁾ Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

24

Bank of America Corporation

All Other Results⁽¹⁾

(Dollars in millions)

	Year-to-Date September 30						Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004			Third Quarter 2004
	2005			2004
Key Measures
Net interest income(2)	$	98		$	139		$	46		$	25		$	27		$	1		$	1
Noninterest income
Investment & brokerage services		28			1			10			9			9			11			1
Mortgage banking income		(195	)		(182	)		(68	)		(65	)		(62	)		(65	)		(62	)
Equity investment gains		1,243			348			564			414			265			401			182
Trading account profits		(59	)		16			(29	)		(25	)		(5	)		(21	)		(19	)
All other income		(116	)		(318	)		(130	)		156			(142	)		(120	)		(113	)
Total noninterest income		901			(135	)		347			489			65			206			(11	)
Total revenue(2)	$	999		$	4		$	393		$	514		$	92		$	207		$	(10	)
Provision for credit losses	$	38		$	394		$	41		$	(22	)	$	19		$	(50	)	$	44
Net income(3)		932			847			124			438			370			(47	)		124
Shareholder value added		(204	)		(39	)		(305	)		86			15			(227	)		(99	)
Selected Average Balance
Sheet Components
Total loans and leases	$	122,967		$	118,461		$	122,380		$	118,086		$	128,501		$	127,860		$	123,041
Total deposits		20,679			16,438			15,203			22,428			24,507			18,803			19,126
Total earning assets		135,041			91,076			148,062			135,089			121,683			96,526			97,425

⁽¹⁾ All Other consists primarily of Equity Investments, noninterest income and expense amounts associated with the Asset and Liability Management process (including gains on sales of debt securities), the residual impact of the allowance for credit losses processes and funds transfer pricing allocation methodologies, merger and restructuring charges, intersegment eliminations, and the results of certain consumer finance and commercial lending businesses that are being liquidated.

⁽²⁾ Fully taxable-equivalent basis

⁽³⁾ Includes merger and restructuring charges, net of taxes, $235 million and $230 million for the nine months ended September 30, 2005 and 2004, $80 million, $80 million, $75 million, $181 million and $147 million for the three months ended September 30, 2005, June 30, 2005, March 31, 2005, December 31, 2004 and September 30, 2004.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

25

Bank of America Corporation

Outstanding Loans and Leases

(Dollars in millions)

	September 30 2005		June 30 2005		Increase (Decrease) from 6/30/05
Residential mortgage	$	177,317	$	170,057	$	7,260
Credit card		56,079		53,863		2,216
Home equity lines		59,337		56,839		2,498
Direct/Indirect consumer		49,585		43,247		6,338
Other consumer(1)		6,639		6,829		(190	)
Total consumer		348,957		330,835		18,122
Commercial - domestic		130,730		124,080		6,650
Commercial real estate(2)		35,794		34,537		1,257
Commercial lease financing		20,284		20,628		(344	)
Commercial - foreign		18,838		19,338		(500	)
Total commercial		205,646		198,583		7,063
Total	$	554,603	$	529,418	$	25,185

⁽¹⁾ Includes consumer finance of $2,988 million and $3,144 million; foreign consumer of $3,575 million and $3,505 million; and consumer lease financing of $76 million and $180 million at September 30, 2005 and June 30, 2005.

⁽²⁾ Includes domestic commercial real estate loans of $35,116 million and $34,020 million; and foreign commercial real estate loans of $678 million and $517 million at September 30, 2005 and June 30, 2005.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

26

Bank of America Corporation

Commercial Utilized Credit Exposure by Industry⁽¹⁾

(Dollars in millions)

	September 30 2005		June 30 2005		% Increase (Decrease) from 6/30/05
Real estate (2)	$	42,839	$	39,233	9	%
Retailing		25,046		24,294	3
Banks		23,831		22,332	7
Diversified financials		22,167		23,361	(5	)
Education and government		21,436		19,207	12
Individuals and trusts		17,230		16,468	5
Consumer durables and apparel		14,501		13,921	4
Materials		13,914		14,607	(5	)
Transportation		12,904		13,188	(2	)
Capital goods		12,750		13,097	(3	)
Commercial services and supplies		12,667		12,627	0
Leisure and sports, hotels and restaurants		12,657		14,002	(10	)
Healthcare equipment and services		11,985		11,895	1
Food, beverage and tobacco		11,150		10,508	6
Energy		10,769		9,079	19
Religious and social organizations		6,140		5,812	6
Media		5,727		5,834	(2	)
Utilities		5,362		4,739	13
Insurance		4,760		5,151	(8	)
Food and staples retailing		3,531		3,495	1
Telecommunication services		3,486		3,383	3
Technology hardware and equipment		3,378		2,998	13
Software and services		2,483		2,828	(12	)
Automobiles and components		1,874		1,789	5
Pharmaceuticals and biotechnology		1,384		1,334	4
Household and personal products		457		319	43
Other		2,864		2,868	(0	)
Total	$	307,292	$	298,369	3

⁽¹⁾ Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held for sale and commercial letters of credit. Derivative assets are reported on a mark-to-market basis and have not been reduced by the amount of collateral applied. Derivative asset collateral totaled $17.8 billion and $17.4 billion at September 30, 2005 and June 30, 2004.

⁽²⁾ Industries are viewed from a variety of perspectives to best isolate the perceived risks. For purposes of this table, the real estate industry is defined based upon the borrowers' or counterparties' primary business activity using operating cash flow and primary source of repayment as key factors.

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

27

Bank of America Corporation

Net Credit Default Swaps

(Dollars in millions)

Summary by Debt Rating at September 30, 2005

Ratings	Notional		Percent
AAA	$	4	0.0	%
AA		637	3.8
A		4,941	29.2
BBB		8,396	49.7
BB		2,158	12.8
B		341	2.0
CCC/CC		103	0.6
Indices		325	1.9
Total	$	16,905	100.0	%

28

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)

	September 30 2005			June 30 2005			March 31 2005			December 31 2004			September 30 2004
Residential mortgage	$	493		$	494		$	536		$	554		$	532
Home equity lines		88			75			70			66			51
Direct/Indirect consumer		32			33			32			33			26
Other consumer		75			76			83			85			94
Total consumer		688			678			721			738			703
Commercial - domestic		641			662			811			855			991
Commercial real estate		44			60			64			87			136
Commercial lease financing		61			282			249			266			243
Commercial - foreign		64			88			228			267			473
Total commercial		810			1,092			1,352			1,475			1,843
Total nonperforming loans and leases		1,498			1,770			2,073			2,213			2,546
Nonperforming securities(1)		—			14			153			140			157
Foreclosed properties		99			111			112			102			133
Total nonperforming assets(2)	$	1,597		$	1,895		$	2,338		$	2,455		$	2,836
Loans past due 90 days or more and still accruing	$	1,417		$	1,235		$	1,211		$	1,294		$	1,120
Nonperforming assets / Total assets		0.13	%		0.15	%		0.19	%		0.22	%		0.26	%
Nonperforming assets / Total loans, leases and foreclosed properties		0.29			0.36			0.44			0.47			0.55
Nonperforming loans and leases / Total loans and leases		0.27			0.33			0.39			0.42			0.50
Allowance for credit losses:
Allowance for loan and lease losses	$	8,326		$	8,319		$	8,313		$	8,626		$	8,723
Reserve for unfunded lending commitments		390			383			394			402			446
Total	$	8,716		$	8,702		$	8,707		$	9,028		$	9,169
Allowance for loan and lease losses / Total loans and leases		1.50	%		1.57	%		1.57	%		1.65	%		1.70	%
Allowance for loan and lease losses / Total nonperforming loans and leases		556			470			401			390			343
Commercial criticized exposure	$	7,632		$	7,731		$	8,858		$	10,249		$	12,025
Commercial criticized exposure / Commercial utilized exposure		2.48	%		2.59	%		2.95	%		3.44	%		4.13	%

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

⁽¹⁾ The decline in nonperforming securities at June 30, 2005 was primarily driven by an exchange of nonperforming securities for a combination of performing securities and performing guaranteed loans.

⁽²⁾ Balances do not include $93, $49, $76, $151 and $100 of nonperforming assets, primarily loans held-for-sale, included in Other Assets at September 30, 2005, June 30, 2005, March 31, 2005, December 31, 2004 and September 30, 2004, respectively.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

29

Bank of America Corporation

Quarterly Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)

	Third Quarter 2005					Second Quarter 2005					First Quarter 2005					Fourth Quarter 2004					Third Quarter 2004
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	7		0.02	%	$	11		0.03	%	$	4		0.01	%	$	6		0.01	%	$	7		0.02	%
Credit card		772		5.55			774		5.91			740		5.85			691		5.57			586		5.09
Home equity lines		9		0.06			9		0.07			6		0.05			4		0.03			2		0.02
Direct/Indirect consumer		60		0.50			46		0.43			61		0.60			55		0.55			56		0.57
Other consumer(1)		58		3.42			43		2.48			56		3.12			45		2.39			49		2.53
Total consumer		906		1.06			883		1.09			867		1.07			801		0.98			700		0.89
Commercial - domestic		54		0.17			(7	)	(0.02	)		26		0.09			27		0.09			25		0.08
Commercial real estate		2		0.02			1		0.01			0		0.00			1		0.02			1		0.02
Commercial lease financing		209		4.06			9		0.19			25		0.48			11		0.21			(3	)	(0.07	)
Commercial - foreign		(26	)	(0.55	)		(6	)	(0.15	)		(29	)	(0.66	)		5		0.09			(4	)	(0.09	)
Total commercial		239		0.47			(3	)	(0.01	)		22		0.05			44		0.09			19		0.04
Total net charge-offs	$	1,145		0.84		$	880		0.68		$	889		0.69		$	845		0.65		$	719		0.57
By Business Segment:
Global Consumer and Small Business Banking	$	887		2.42	%	$	861		2.44	%	$	817		2.38	%	$	756		2.18	%	$	652		1.94	%
Global Business and Financial Services		292		0.63			(8	)	(0.02	)		82		0.19			72		0.17			36		0.09
Global Capital Markets and Investment Banking		(52	)	(0.63	)		3		0.04			(43	)	(0.50	)		(25	)	(0.29	)		(8	)	(0.09	)
Global Wealth and Investment Management		(1	)	(0.01	)		5		0.04			0		0.00			3		0.03			1		0.01
All Other		19		0.06			19		0.07			33		0.10			39		0.12			38		0.12
Total net charge-offs	$	1,145		0.84		$	880		0.68		$	889		0.69		$	845		0.65		$	719		0.57

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

⁽¹⁾ Includes lease financing of $2 million, $2 million, $3 million, $5 million and $7 million for the quarters ended September 30, 2005, June 30, 2005, March 31, 2005, December 31, 2004 and September 30, 2004, respectively.

Net Charge-offs

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

30

Bank of America Corporation

Year-to-Date Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)

	Nine Months Ended September 30
	2005					2004
	Amount			Percent		Amount			Percent
Residential mortgage	$	22		0.02	%	$	30		0.02	%
Credit card		2,286		5.76			1,614		5.20
Home equity lines		24		0.06			11		0.04
Direct/Indirect consumer		167		0.50			153		0.54
Other consumer(1)		157		3.00			148		2.55
Total consumer		2,656		1.07			1,956		0.91
Commercial - domestic		73		0.08			150		0.18
Commercial real estate		3		0.01			(5	)	(0.02	)
Commercial lease financing		243		1.58			(1	)	(0.02	)
Commercial - foreign		(61	)	(0.45	)		168		1.43
Total commercial		258		0.18			312		0.24
Total net charge-offs	$	2,914		0.74		$	2,268		0.66
By Business Segment:
Global Consumer and Small Business Banking	$	2,565		2.41	%	$	1,786		2.04	%
Global Business and Financial Services		366		0.28			194		0.18
Global Capital Markets and Investment Banking		(92	)	(0.37	)		151		0.59
Global Wealth and Investment Management		4		0.01			2		0.01
All Other		71		0.08			135		0.15
Total net charge-offs	$	2,914		0.74		$	2,268		0.66

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

⁽¹⁾ Includes lease financing of $7 million and $22 million for the nine months ended September 30, 2005 and 2004.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

31

Bank of America Corporation

Selected Emerging Markets ⁽¹⁾ 

(Dollars in millions)	Loans and Leases, and Loan Commitments		Other Financing (2)		Derivative Assets (3)		Securities/ Other Investments (4,5,6)		Total Cross- border Exposure (7)		Local Country Exposure Net of Local Liabilities (8)		Total Foreign Exposure September 30, 2005		Increase/ (Decrease) from December 31, 2004
Region/Country
Latin America
Brazil (9)	$	741	$	164	$	121	$	48	$	1,074	$	2,768	$	3,842	$	292
Mexico		790		157		58		2,218		3,223		0		3,223		357
Chile		234		14		37		5		290		615		905		(275	)
Argentina		114		18		0		81		213		0		213		(178	)
Other Latin America (10)		205		109		9		91		414		11		425		(650	)
Total Latin America		2,084		462		225		2,443		5,214		3,394		8,608		(454	)
Asia Pacific
China (6)		69		72		23		2,561		2,725		0		2,725		2,617
South Korea		392		499		51		725		1,667		0		1,667		284
India		416		107		276		452		1,251		178		1,429		(63	)
Taiwan		259		104		104		30		497		327		824		(503	)
Hong Kong		270		51		44		342		707		0		707		(412	)
Singapore		211		7		55		185		458		0		458		118
Other Asia Pacific (10)		27		67		37		423		554		162		716		170
Total Asia Pacific		1,644		907		590		4,718		7,859		667		8,526		2,211
Central and Eastern Europe (10)		20		58		19		78		175		0		175		(66	)
Total	$	3,748	$	1,427	$	834	$	7,239	$	13,248	$	4,061	$	17,309	$	1,691

⁽¹⁾ There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Asia Pacific excluding Japan, Australia and New Zealand; and all countries in Central and Eastern Europe excluding Greece.

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

⁽³⁾ Derivative assets are reported on a mark-to-market basis and have not been reduced by the amount of collateral applied. Derivative asset collateral totaled $13 million and $361 million at September 30, 2005 and December 31, 2004.

⁽⁴⁾ Amounts outstanding for Other Latin America and Other Asia Pacific have been reduced by $35 million and $15 million at September 30, 2005 and $196 million and $14 million at December 31, 2004. Such amounts represent the fair value of U.S. Treasury securities held as collateral outside the country of exposure.

⁽⁵⁾ Cross-border resale agreements are presented based on the domicile of the counterparty because the counterparty has the legal obligation for repayment. For regulatory reporting under Federal Financial Institutions Examination Council (FFIEC) guidelines, cross-border resale agreements are presented based on the domicile of the issuer of the securities that are held as collateral.

⁽⁶⁾ Includes $2.5 billion investment in CCB made in the third quarter of 2005.

⁽⁷⁾ Cross-border exposure includes amounts payable to the Corporation by borrowers or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting rules.

⁽⁸⁾ Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Management subtracts local funding or liabilities from local exposures as allowed by the FFIEC. Total amount of available local liabilities funding local country exposure at September 30, 2005 was $19.9 billion compared to $17.2 billion at December 31, 2004. Local liabilities at September 30, 2005 in Latin America and Asia Pacific was $10.6 billion and $9.2 billion, of which $5.0 billion was in Brazil, $4.2 billion in Hong Kong, $2.5 billion in Singapore, $2.0 billion in Argentina, $1.5 billion in Chile, $1.3 billion in Mexico, $0.8 billion in Uruguay and $0.6 billion each in India and Korea. There were no other countries with available local liabilities funding local country exposure greater than $0.5 billion.

⁽⁹⁾ The Corporation has risk mitigation instruments associated with certain exposures for Brazil, including structured trade related transfer risk mitigation of $865 million and $950 million, third party funding of $382 million and $286 million, and linked certificates of deposit of $66 million and $125 million at September 30, 2005 and December 31, 2004. The resulting total foreign exposure net of risk mitigation was $2.5 billion and $2.2 billion at September 30, 2005 and December 31, 2004.

⁽¹⁰⁾ Other Latin America, Other Asia Pacific, and Central and Eastern Europe include countries each with total foreign exposure of less than $300 million.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

32