Supplemental Financial Information

EX-99.1 2 dex991.htm SUPPLEMENTAL FINANCIAL INFORMATION Supplemental Financial Information

Exhibit 99.1


Index

2005/2004 Unaudited Pro Forma Condensed Combined Financial Information		1

2005 Unaudited Condensed Combined Balance Sheet		2

2005 Unaudited Condensed Combined Statements of Income		3

2004 Unaudited Condensed Combined Statements of Income		7

Note 1 - Basis of Pro Forma Presentation		10

Note 2 - Pro Forma Adjustments		11

Note 3 - Reclassification		14

Note 4 - Realignment of Bank of America Business Segments		15

Note 5 - Pro Forma Segment Financial Information		36








Pro Forma Consolidated Income Statement		37

Pro Forma Net Income by Segment and Sub Segments		38

Pro Forma Revenue by Segment and Sub Segments		39

Summary by Segment		40

Global Consumer and Small Business Banking		41

Global Corporate and Investment Banking		50

Global Wealth and Investment Management		58

Key Indicators - Overall		65

Global Consumer and Small Business Banking: Card Services (Held to Managed)		66

UNAUDITED PRO FORMA CONDENSED

COMBINED FINANCIAL INFORMATION

The FleetBoston Financial Corporation (“FleetBoston”) Merger agreement (the “FleetBoston Merger”) was announced on October 27, 2003 and was effective April 1, 2004. Accordingly, the financial results of FleetBoston are included in the historical financial statements for Bank of America Corporation (the “Corporation”) beginning on April 1, 2004.

The MBNA Corporation (“MBNA”) Merger agreement (the “MBNA Merger”) was announced on June 30, 2005 and provided for each outstanding share of MBNA common stock to be converted into the right to receive 0.5009 shares of the Corporation’s common stock plus a cash component of $4.125 per share. The financial results of MBNA will be included in the financial statements for the Corporation beginning January 1, 2006.

The following Unaudited Pro Forma Condensed Combined Financial Information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the periods presented and had the impact of possible revenue enhancements, expense efficiencies, asset dispositions and share repurchases, among other factors, been considered. The Unaudited Pro Forma Condensed Combined Financial Information is not defined by accounting principles generally accepted in the United States (GAAP). However, as a result of the Mergers, we believe that the Unaudited Pro Forma Condensed Combined Financial Information will provide a more useful year-to-year comparison in future periods versus comparing to the Corporation’s historical financial information.

For 2004, the Unaudited Pro Forma Condensed Combined Financial Information and explanatory notes present how the merger of the Corporation, FleetBoston, and MBNA, herein referred to collectively as “the Mergers,” may have appeared had the businesses actually been combined at the beginning of 2004 under the purchase method of accounting with the Corporation treated as the acquirer. The Unaudited Pro Forma Condensed Combined Statement of Income for the year ended December 31, 2004 was prepared assuming the Mergers were completed on January 1, 2004.

For 2005, the Unaudited Pro Forma Condensed Combined Financial Information and explanatory notes present how the merger of the Corporation and MBNA may have appeared had the businesses actually been combined at the beginning of 2005 under the purchase method of accounting with the Corporation treated as the acquirer. The Unaudited Pro Forma Condensed Combined Balance Sheet as of December 31, 2005 includes the assets and liabilities of MBNA at their estimated fair values. The Unaudited Pro Forma Condensed Combined Statement of Income for the year ended December 31, 2005 gives effect to the MBNA Merger as if the MBNA Merger had been completed on January 1, 2005.

The Unaudited Pro Forma Condensed Combined Financial Information has been derived from and should be read in conjunction with the historical consolidated financial statements and the related notes of the Corporation, FleetBoston and MBNA.

Bank of America/MBNA

Pro Forma Condensed Combined Balance Sheet

(Unaudited)

The following unaudited pro forma condensed combined balance sheet combines the historical balance sheets of Bank of America and MBNA assuming the companies had been combined on December 31, 2005, on a purchase accounting basis.


	December 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments			Combined
Assets
Cash and cash equivalents	$	36,999		$	1,710		$	(5,198	)(A)	$	33,511
Time deposits placed and other short-term investments		12,800			1,028			—			13,828
Federal funds sold and securities purchased under agreements to resell		149,785			—			—			149,785
Trading account assets		131,707			—			—			131,707
Derivative assets		23,712			238			—			23,950
Securities		221,603			5,790			(10	)(B)		227,383
Loans and leases		573,791			37,507			(529	)(C)		610,769
Allowance for loan and lease losses		(8,045	)		(837	)		259	(C)		(8,623	)

Loans and leases, net of allowance		565,746			36,670			(270	)		602,146

Premises and equipment, net		7,786			2,448			(588	)(D)		9,646
Mortgage servicing rights		2,806			9			—			2,815
Goodwill		45,354			440			20,293	(E)		66,087
Core deposit intangibles and other intangibles		3,194			3,124			4,917	(F)		11,235
Other assets		90,311			10,405			(816	)(G)		99,900

Total assets	$	1,291,803		$	61,862		$	18,328		$	1,371,993

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	179,571		$	2,840		$	—		$	182,411
Interest-bearing		384,155			24,245			100	(H)		408,500
Deposits in foreign offices:								—
Noninterest-bearing		7,165			423			—			7,588
Interest-bearing		63,779			1,153			—			64,932

Total deposits		634,670			28,661			100			663,431

Federal funds purchased and securities sold under agreements to repurchase		240,655			785			—			241,440
Trading account liabilities		50,890			—			—			50,890
Derivative liabilities		15,000			324			—			15,324
Commercial paper and other short-term borrowings		116,269			1,945			3	(I)		118,217
Accrued expenses and other liabilities		31,938			3,039			1,854	(J) (K)		36,831
Long-term debt		100,848			13,698			404	(L)		114,950

Total liabilities		1,190,270			48,452			2,361			1,241,083

Shareholders’ equity
Preferred stock		271			—			—			271
Common stock and additional paid-in capital		41,693			1,473			27,904	(M)		71,070
Retained earnings		67,552			11,665			(11,665	)(M)		67,552
Accumulated other comprehensive income (loss)		(7,556	)		272			(272	)(M)		(7,556	)
Other		(427	)		—			—			(427	)

Total shareholders’ equity		101,533			13,410			15,967			130,910

Total liabilities and shareholders’ equity	$	1,291,803		$	61,862		$	18,328		$	1,371,993

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)

The following pro forma combined financial information and explanatory notes present how the combined financial statements of Bank of America and MBNA may have appeared had the businesses actually been combined at the beginning of the period presented. The pro forma combined financial information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented and had the impact of possible revenue enhancements, expense efficiencies, hedging activities, asset dispositions, and share repurchases, among other factors, been considered.


	For the year ended December 31, 2005
*($ in millions, except per share information)*	Bank of America		MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	30,737	$	2,785		$	507	(C) (H) (I) (L) (N)	$	34,029

Noninterest income
Service charges		7,704		1			—			7,705
Investment and brokerage services		4,184		—			—			4,184
Mortgage banking income		805		36			—			841
Investment banking income		1,856		—			—			1,856
Equity investment gains		2,040		—			—			2,040
Card income		5,753		7,096			(72	)(N) (O)		12,777
Trading account profits		1,763		(25	)		—			1,738
Other income		1,249		257			—			1,506

Total noninterest income		25,354		7,365			(72	)		32,647

Total revenue		56,091		10,150			435			66,676

Provision for credit losses		4,014		1,001			67	(P)		5,082

Gains on sales of debt securities		1,084		—			—			1,084

Noninterest expense
Personnel		15,054		2,255			—			17,309
Occupancy		2,588		174			(14	)(D)		2,748
Equipment		1,199		203			50	(Q)		1,452
Marketing		1,255		986			206	(R)		2,447
Professional fees		930		195			—			1,125
Amortization of intangibles		809		465			538	(F)		1,812
Data processing		1,487		298			—			1,785
Telecommunications		827		78			—			905
Other general operating		4,120		995			(287	)(P) (R)		4,828
Merger and restructuring charges		412		767			—			1,179

Total noninterest expense		28,681		6,416			493			35,590

Income before income taxes		24,480		2,733			(125	)		27,088
Income tax expense		8,015		962			(46	)(S)		8,931

Net income	$	16,465	$	1,771		$	(79	)		18,157
Net income available to common shareholders		16,447		1,752			(79	)		18,120
Earnings per share		4.10		1.39						3.90
Diluted earnings per share		4.04		1.37						3.86
Merger and restructuring charges, net of tax benefit		275		496			—			771
Operating earnings		16,740		2,267			(79	)		18,928
Operating earnings available to common shareholders		16,722		2,248			(79	)		18,891
Operating diluted earnings per share		4.11		1.76						4.01
Impact of merger and restructuring charges, net of tax benefit	$	0.07	$	0.39		$	—		$	0.15
Average common shares issued and outstanding (in thousands)		4,008,688		1,263,875			(630,800	)(T)		4,641,763
Average diluted common shares issued and outstanding (in thousands)		4,068,140		1,275,396			(636,550	)(T)		4,706,986

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended March 31, 2005
*($ in millions, except per share information)*	Bank of America (restated)		MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	7,506	$	671		$	164	(C) (H) (I) (L) (N)	$	8,341

Noninterest income
Service charges		1,777		—			—			1,777
Investment and brokerage services		1,013		—			—			1,013
Mortgage banking income		221		8			—			229
Investment banking income		366		—			—			366
Equity investment gains		399		—			—			399
Card income		1,289		1,716			(7	)(N) (O)		2,998
Trading account profits		685		(16	)		—			669
Other income		282		42			—			324

Total noninterest income		6,032		1,750			(7	)		7,775

Total revenue		13,538		2,421			157			16,116

Provision for credit losses		580		287			15	(P)		882

Gains on sales of debt securities		659		—			—			659

Noninterest expense
Personnel		3,701		519			—			4,220
Occupancy		636		45			(3	)(D)		678
Equipment		297		53			13	(Q)		363
Marketing		337		248			37	(R)		622
Professional fees		177		33			—			210
Amortization of intangibles		208		115			133	(F)		456
Data processing		364		70			—			434
Telecommunications		206		20			—			226
Other general operating		1,019		228			(57	)(P) (R)		1,190
Merger and restructuring charges		112		768			—			880

Total noninterest expense		7,057		2,099			123			9,279

Income before income taxes		6,560		35			19			6,614
Income tax expense		2,167		3			7	(S)		2,177

Net income	$	4,393	$	32		$	12		$	4,437
Net income available to common shareholders		4,388		28			12			4,428
Earnings per share		1.09		0.02						0.95
Diluted earnings per share		1.07		0.02						0.94
Merger and restructuring charges, net of tax benefit		75		482			—			557
Operating earnings		4,468		514			12			4,994
Operating earnings available to common shareholders		4,463		510			12			4,985
Operating diluted earnings per share		1.09		0.40						1.05
Impact of merger and restructuring charges, net of tax benefit	$	0.02	$	0.38		$	—		$	0.11
Average common shares issued and outstanding (in thousands)		4,032,550		1,276,443			(639,370	)(T)		4,669,623
Average diluted common shares issued and outstanding (in thousands)		4,099,062		1,292,143			(647,234	)(T)		4,743,971

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended June 30, 2005
*($ in millions, except per share information)*	Bank of America (restated)		MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	7,637	$	659		$	141	(C) (H) (I) (L) (N)	$	8,437

Noninterest income
Service charges		1,920		—			—			1,920
Investment and brokerage services		1,049		—			—			1,049
Mortgage banking income		189		13			—			202
Investment banking income		431		—			—			431
Equity investment gains		492		—			—			492
Card income		1,437		1,856			(16	) (N) (O)		3,277
Trading account profits		222		(10	)		—			212
Other income		1,215		36			—			1,251

Total noninterest income		6,955		1,895			(16	)		8,834

Total revenue		14,592		2,554			125			17,271

Provision for credit losses		875		173			16	(P)		1,064

Gains on sales of debt securities		325		—			—			325

Noninterest expense
Personnel		3,671		539			—			4,210
Occupancy		615		42			(3	)(D)		654
Equipment		297		50			13	(Q)		360
Marketing		346		227			64	(R)		637
Professional fees		216		43			—			259
Amortization of intangibles		204		116			134	(F)		454
Data processing		368		72			—			440
Telecommunications		196		19			—			215
Other general operating		985		259			(85	) (P) (R)		1,159
Merger and restructuring charges		121		15			—			136

Total noninterest expense		7,019		1,382			123			8,524

Income before income taxes		7,023		999			(14	)		8,008

Income tax expense		2,366		367			(5	) (S)		2,728

Net income	$	4,657	$	632		$	(9	)	$	5,280
Net income available to common shareholders		4,653		629			(9	)		5,273
Earnings per share		1.16		0.50						1.14
Diluted earnings per share		1.14		0.50						1.12
Merger and restructuring charges, net of tax benefit		81		15			—			96
Operating earnings		4,738		647			(9	)		5,376
Operating earnings available to common shareholders		4,734		644			(9	)		5,369
Operating diluted earnings per share		1.16		0.51						1.14
Impact of merger and restructuring charges, net of tax benefit	$	0.02	$	0.01		$	—		$	0.03
Average common shares issued and outstanding (in thousands)		4,005,356		1,260,485			(629,108	)(T)		4,636,733
Average diluted common shares issued and outstanding (in thousands)		4,065,355		1,268,034			(632,876	)(T)		4,700,513

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions, except per share information)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	7,735		$	735		$	115	(C) (H) (I) (L) (N)	$	8,585

Noninterest income
Service charges		2,080			—			—			2,080
Investment and brokerage services		1,060			—			—			1,060
Mortgage banking income		180			11			—			191
Investment banking income		522			—			—			522
Equity investment gains		668			—			—			668
Card income		1,520			1,890			(22	)(N) (O)		3,388
Trading account profits		557			(7	)		—			550
Other income		(171	)		76			—			(95	)

Total noninterest income		6,416			1,970			(22	)		8,364

Total revenue		14,151			2,705			93			16,949

Provision for credit losses		1,159			262			18	(P)		1,439

Gains on sales of debt securities		29			—			—			29

Noninterest expense
Personnel		3,837			503			—			4,340
Occupancy		638			43			(3	)(D)		678
Equipment		300			51			13	(Q)		364
Marketing		307			231			64	(R)		602
Professional fees		254			31			—			285
Amortization of intangibles		201			117			135	(F)		453
Data processing		361			76			—			437
Telecommunications		206			20			—			226
Other general operating		1,061			262			(86	)(P)(R)		1,237
Merger and restructuring charges		120			(18	)		—			102

Total noninterest expense		7,285			1,316			123			8,724

Income before income taxes		5,736			1,127			(48	)		6,815

Income tax expense		1,895			409			(18	)(S)		2,286

Net income	$	3,841		$	718		$	(30	)	$	4,529
Net income available to common shareholders		3,836			714			(30	)		4,520
Earnings per share		0.96			0.57						0.98
Diluted earnings per share		0.95			0.56						0.97
Merger and restructuring charges, net of tax benefit		80			(8	)		—			72
Operating earnings		3,921			710			(30	)		4,601
Operating earnings available to common shareholders		3,916			706			(30	)		4,592
Operating diluted earnings per share		0.97			0.56						0.98
Impact of merger and restructuring charges, net of tax benefit	$	0.02		$	—		$	—		$	0.01
Average common shares issued and outstanding (in thousands)		4,000,573			1,259,027			(628,380	)(T)		4,631,220
Average diluted common shares issued and outstanding (in thousands)		4,054,659			1,270,792			(634,252	)(T)		4,691,199

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/FleetBoston/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)

The following pro forma combined financial information and explanatory notes present how the combined financial statements of Bank of America, FleetBoston and MBNA may have appeared had the businesses actually been combined at the beginning of the period presented. The pro forma combined financial information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented and had the impact of possible revenue enhancements, expense efficiencies, hedging activities, asset dispositions, and share repurchases, among other factors, been considered.


	For the year ended December 31, 2004
*($ in millions, except per share information)*	Bank of America (restated)		FleetBoston		FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	27,960	$	1,726	$	82		$	2,556		$	507	(C) (H) (I) (L) (N)	$	32,831

Noninterest income
Service charges		6,989		368		(38	)		1			—			7,320
Investment and brokerage services		3,614		431		—			—			—			4,045
Mortgage banking income		414		11		—			39			—			464
Investment banking income		1,886		30		—			—			—			1,916
Equity investment gains		863		87		—			—			—			950
Card income		4,592		128		148			8,019			(72	) (N) (O)		12,815
Trading account profits		1,013		101		—			(65	)		—			1,049
Other income		1,634		230		—			100			—			1,964

Total noninterest income		21,005		1,386		110			8,094			(72	)		30,523

Total revenue		48,965		3,112		192			10,650			435			63,354

Provision for credit losses		2,769		—		—			1,147			67	(P)		3,983

Gains on sales of debt securities		1,724		50		—			1			—			1,775

Noninterest expense
Personnel		13,435		901		(5	)		2,186			—			16,517
Occupancy		2,379		144		(14	)		185			(14	)(D)		2,680
Equipment		1,214		100		(5	)		226			50	(Q)		1,585
Marketing		1,349		91		53			911			206	(R)		2,610
Professional fees		836		89		—			108			—			1,033
Amortization of intangibles		664		20		120			454			538	(F)		1,796
Data processing		1,330		103		—			210			—			1,643
Telecommunications		730		20		—			89			—			839
Other general operating		4,457		496		—			1,004			(287	)(P) (R)		5,670
Merger and restructuring charges		618		6		—			—			—			624

Total noninterest expense		27,012		1,970		149			5,373			493			34,997

Income before income taxes		20,908		1,192		43			4,131			(125	)		26,149

Income tax expense		6,961		424		56			1,454			(46	)(S)		8,849

Net income	$	13,947	$	768	$	(13	)	$	2,677		$	(79	)	$	17,300
Net income available to common shareholders		13,931		768		(13	)		2,663			(79	)		17,270
Earnings per share		3.71		0.72		—			2.08						3.68
Diluted earnings per share		3.64		0.71		—			2.05						3.62
Merger and restructuring charges, net of tax benefit		412				—			—			—			416
Operating earnings		14,359		773		(13	)		2,677			(79	)		17,717
Operating earnings available to common shareholders		14,343		768		(13	)		2,663			(79	)		17,682
Operating diluted earnings per share		3.75		0.71		—			2.06						3.70
Impact of merger and restructuring charges, net of tax benefit	$	0.11	$	—	$	—		$	—		$	—		$	0.11
Average common shares issued and outstanding (in thousands)		3,758,507		1,071,104		(775,289	)		1,277,833			(637,766	)(T)		4,694,389
Average diluted common shares issued and outstanding (in thousands)		3,823,943		1,086,636		(785,908	)		1,297,178			(647,422	)(T)		4,774,427

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/FleetBoston/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended March 31, 2004
*($ in millions, except per share information)*	Bank of America (restated)		FleetBoston		FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	5,529	$	1,726	$	82		$	672		$	164	(C) (H) (I) (L) (N)	$	8,173

Noninterest income
Service charges		1,416		368		(38	)		—			—			1,746
Investment and brokerage services		635		431		—			—			—			1,066
Mortgage banking income		209		11		—			8			—			228
Investment banking income		404		30		—			—			—			434
Equity investment gains		133		87		—			—			—			220
Card income		795		129		148			1,881			(7	)(N) (O)		2,946
Trading account profits		17		101		—			(15	)		—			103
Other income		340		230		—			26			—			596

Total noninterest income		3,949		1,387		110			1,900			(7	)		7,339

Total revenue		9,478		3,113		192			2,572			157			15,512

Provision for credit losses		624		—		—			365			15	(P)		1,004

Gains on sales of debt securities		495		49		—			—			—			544

Noninterest expense				—
Personnel		2,752		901		(5	)		560			—			4,208
Occupancy		488		144		(14	)		44			(3	)(D)		659
Equipment		261		100		(5	)		56			13	(Q)		425
Marketing		281		127		53			281			37	(R)		779
Professional fees		160		90		—			22			—			272
Amortization of intangibles		54		21		120			107			133	(F)		435
Data processing		284		103		—			44			—			431
Telecommunications		151		20		—			22			—			193
Other general operating		999		457		—			268			(57	)(P) (R)		1,667
Merger and restructuring charges		—		6		—			—			—			6

Total noninterest expense		5,430		1,969		149			1,404			123			9,075

Income before income taxes		3,919		1,193		43			803			19			5,977

Income tax expense		1,271		425		56			283			7	(S)		2,042

Net income	$	2,648	$	768	$	(13	)	$	520		$	12		$	3,935
Net income available to common shareholders		2,647		768		(13	)		516			12			3,930
Earnings per share		0.92		0.72		—			0.40						0.83
Diluted earnings per share		0.90		0.71		—			0.40						0.82
Merger and restructuring charges, net of tax benefit		—		—		—			—			—			—
Operating earnings		2,648		773		(13	)		520			12			3,935
Operating earnings available to common shareholders		2,647		768		(13	)		516			12			3,930
Operating diluted earnings per share		0.90		0.71		—			0.40						0.82
Impact of merger and restructuring charges, net of tax benefit	$	—	$	—	$	—		$	—		$	—		$	—
Average common shares issued and outstanding (in thousands)		2,880,306		1,071,104		118,464			1,277,953			(637,826	)(T)		4,710,001
Average diluted common shares issued and outstanding (in thousands)		2,933,402		1,086,636		120,182			1,301,071			(649,365	)(T)		4,791,926

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended June 30, 2004
*($ in millions, except per share information)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	7,366		$	599		$	141	(C) (H) (I) (L) (N)	$	8,106

Noninterest income
Service charges		1,783			—			—			1,783
Investment and brokerage services		999			—			—			999
Mortgage banking income		299			10			—			309
Investment banking income		547			—			—			547
Equity investment gains		84			—			—			84
Card income		1,159			1,941			(16	)(N) (O)		3,084
Trading account profits		422			(15	)		—			407
Other income		(423	)		28			—			(395	)

Total noninterest income		4,870			1,964			(16	)		6,818

Total revenue		12,236			2,563			125			14,924

Provision for credit losses		789			252			16	(P)		1,057

Gains on sales of debt securities		795			—			—			795

Noninterest expense
Personnel		3,629			549			—			4,178
Occupancy		621			46			(3	)(D)		664
Equipment		318			56			13	(Q)		387
Marketing		367			220			64	(R)		651
Professional fees		194			31			—			225
Amortization of intangibles		201			113			134	(F)		448
Data processing		333			48			—			381
Telecommunications		183			22			—			205
Other general operating		1,257			256			(85	)(P) (R)		1,428
Merger and restructuring charges		125			—			—			125

Total noninterest expense		7,228			1,341			123			8,692

Income before income taxes		5,014			970			(14	)		5,970

Income tax expense		1,673			310			(5	)(S)		1,978

Net income	$	3,341		$	660		$	(9	)	$	3,992
Net income available to common shareholders		3,336			657			(9	)		3,984
Earnings per share		0.82			0.51						0.85
Diluted earnings per share		0.81			0.51						0.83
Merger and restructuring charges, net of tax benefit		83			—			—			83
Operating earnings		3,424			660			(9	)		4,075
Operating earnings available to common shareholders		3,419			657			(9	)		4,067
Operating diluted earnings per share		0.83			0.51						0.85
Impact of merger and restructuring charges, net of tax benefit	$	0.02		$	—		$	—		$	0.02
Average common shares issued and outstanding (in thousands)		4,062,384			1,277,726			(637,713	)(T)		4,702,397
Average diluted common shares issued and outstanding (in thousands)		4,131,290			1,297,054			(647,360	)(T)		4,780,984

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America/MBNA

Pro Forma Condensed Combined Statement of Income

Total Corporation

(unaudited)


	For the quarter ended September 30, 2004
*($ in millions, except per share information)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments			Combined
Net interest income	$	7,515		$	617		$	115	(C) (H) (I) (L) (N)	$	8,247

Noninterest income
Service charges		1,899			—			—			1,899
Investment and brokerage services		972			—			—			972
Mortgage banking income		(250	)		11			—			(239	)
Investment banking income		438			—			—			438
Equity investment gains		220			—			—			220
Card income		1,258			2,099			(22	)(N) (O)		3,335
Trading account profits		238			(14	)		—			224
Other income		1,237			25			—			1,262

Total noninterest income		6,012			2,121			(22	)		8,111

Total revenue		13,527			2,738			93			16,358

Provision for credit losses		650			273			18	(P)		941

Gains on sales of debt securities		333			—			—			333

Noninterest expense
Personnel		3,534			536			—			4,070
Occupancy		622			47			(3	)(D)		666
Equipment		309			57			13	(Q)		379
Marketing		364			204			64	(R)		632
Professional fees		207			25			—			232
Amortization of intangibles		200			115			135	(F)		450
Data processing		341			57			—			398
Telecommunications		180			23			—			203
Other general operating		1,043			252			(86	)(P) (R)		1,209
Merger and restructuring charges		221			—			—			221

Total noninterest expense		7,021			1,316			123			8,460

Income before income taxes		6,189			1,149			(48	)		7,290
Income tax expense		2,086			421			(18	)(S)		2,489

Net income	$	4,103		$	728		$	(30	)	$	4,801
Net income available to common shareholders		4,098			725			(30	)		4,793
Earnings per share		1.01			0.57						1.02
Diluted earnings per share		0.99			0.56						1.01
Merger and restructuring charges, net of tax benefit		148			—			—			148
Operating earnings		4,251			728			(30	)		4,949
Operating earnings available to common shareholders		4,246			725			(30	)		4,941
Operating diluted earnings per share		1.03			0.56						1.04
Impact of merger and restructuring charges, net of tax benefit	$	0.04		$	—		$	—		$	0.03
Average common shares issued and outstanding (in thousands)		4,052,304			1,277,665			(637,683	)(T)		4,692,286
Average diluted common shares issued and outstanding (in thousands)		4,121,375			1,294,107			(645,889	)(T)		4,769,593

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Note 1- Basis of Pro Forma Presentation

The Unaudited Pro Forma Condensed Combined Financial Information related to the Mergers is included as of December 31, 2005 and for the years ended December 31, 2004 and 2005. The Mergers were accounted for using the purchase method of accounting. Accordingly, the Corporation’s cost to acquire FleetBoston and MBNA was allocated to the assets (including identifiable intangible assets) and liabilities (including executory contracts and other commitments) of FleetBoston and MBNA at their respective fair values on the dates the Mergers were completed.

Certain amounts in the historical consolidated financial statements of FleetBoston and MBNA have been reclassified to conform to the Corporation’s financial information presentation. In addition, certain historical Bank of America prior period amounts have been reclassified to conform to current period presentation.

The Unaudited Pro Forma Condensed Combined Financial Information presented in this document does not necessarily indicate the results of operations or the combined financial position that would have resulted had the Mergers been completed at the beginning of the applicable period presented, nor is it indicative of the results of operations in future periods or the future financial position of the combined company.

The MBNA Merger agreement is effective January 1, 2006 and is being accounted for under the purchase method of accounting in accordance with SFAS No. 141, “Business Combinations” (SFAS 141). The financial results of MBNA will be included in the Corporation’s financial statements beginning January 1, 2006. See Note 2 for the preliminary allocation of the purchase price.

The FleetBoston Merger agreement was effective April 1, 2004 and was accounted for under the purchase method of accounting in accordance with SFAS 141. Accordingly, the financial results of FleetBoston are included in the historical financial statements for Bank of America beginning on April 1, 2004.

On October 14, 2004, the Corporation acquired all outstanding shares of National Processing, Inc. (“NPC”) for $1.4 billion in cash. The Unaudited Pro Forma Condensed Combined Statements of Income for 2004 do not include pro forma adjustments for the acquisition of NPC. For the years ended December 31, 2005 and 2004, total revenues generated from the NPC business acquired were approximately $395 million and $76 million and total expenses incurred from the NPC business acquired were approximately $308 million and $52 million.

Note 2- Pro Forma Adjustments

The Corporation provided Unaudited Pro Forma Condensed Combined Financial Information relating to the FleetBoston Merger in its current report on Form 8-K filed on January 23, 2006, which should be read in conjunction with the Unaudited Pro Forma Condensed Combined Financial Information presented herein. There have been no changes to the pro forma adjustments indicated in that Form 8-K.

The Unaudited Pro Forma Condensed Combined Financial Information for the Mergers includes the Pro Forma Condensed Combined Balance Sheet as of December 31, 2005 assuming the MBNA Merger was completed on December 31, 2005. The Unaudited Pro Forma Condensed Combined Statement of Income for the year ended December 31, 2004 was prepared assuming the Mergers were completed on January 1, 2004. The Unaudited Pro Forma Condensed Combined Statement of Income for the year ended December 31, 2005 was prepared assuming the MBNA Merger was completed on January 1, 2005.

The MBNA purchase price has been allocated to the assets acquired and the liabilities assumed based on their estimated fair values at the MBNA Merger date. This allocation is based on management’s current estimation and could change as the fair value calculations are finalized and more information becomes available.


(Unaudited)
(In millions, except per share amounts)
Purchase price
Purchase price per share of the Corporation’s common stock	$	45.856
Exchange ratio		0.5009

Purchase price per share of the Corporation’s common stock exchanged	$	22.969
Cash portion of the MBNA Merger consideration		4.125

Implied value of one share of MBNA common stock		27.094
MBNA common stock exchanged		1,260

Total value of the Corporation’s common stock and cash exchanged			$	34,139
Fair value of outstanding stock options and direct acquisition costs				440

Total purchase price			$	34,579

Allocation of the purchase price
MBNA stockholders’ equity			$	13,410
MBNA goodwill and other intangible assets				(3,564	)
Adjustments to reflect assets acquired and liabilities assumed at fair value:
Loans and leases, net of allowance				(270	)
Premises and equipment				(588	)
Identified intangibles				8,042
Other assets				(826	)
Deposits				(100	)
Exit and termination liabilities				(1,185	)
Other liabilities and deferred income taxes				(669	)
Long-term debt				(404	)

Estimated fair value of net assets acquired				13,846

Estimated goodwill resulting from the MBNA Merger			$	20,733

For comparative and illustrative purposes only, the Unaudited Pro Forma Condensed Combined Statements of Income for the years ended December 31, 2004 and 2005 assume that the MBNA purchase accounting adjustments remain the same for each year presented. The MBNA pro forma adjustments included in the Unaudited Pro Forma Condensed Combined Financial Information are as follows:

(A)	Cash consideration paid to MBNA shareholders for each share of MBNA common stock.

(B)	Adjustment to fair-value the securities portfolio.

(C)

Adjustment to fair-value the fixed rate loan and lease portfolio based on current interest rates for similar instruments. The fair-value adjustment will be recognized over the estimated remaining life of the loan and lease portfolio. The impact of the adjustment was to increase interest income by approximately $187 million for the twelve months ended December 31, 2004 and 2005 and by approximately $78 million, $57 million, and $36 million for the three months ended March 31, June 30 and September 30, 2004 and 2005, respectively. Additionally, includes an adjustment of $325 million to record impaired loans to the present value of expected cash flows in accordance with Statement of Position 03-3 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer” and a reclass of reserves for accrued interest and fees from Loans and Leases.

(D)

Adjustment to fair-value owned real estate and computer equipment. The effect of these adjustments is to reduce occupancy costs by $14 million for the twelve months ended December 31, 2004 and 2005 and by approximately $3.4 million for the three months ended March 31, June 30 and September 30, 2004 and 2005, respectively.

(E)	Adjustment to write off historical MBNA goodwill and record goodwill as a result of the MBNA Merger.

(F)

Adjustment to write off historical MBNA intangible assets of $3,124 million (other than goodwill) and to record intangible assets (other than goodwill) resulting from the MBNA Merger based on estimated fair values. The nature, amount and amortization method of various possible identified intangibles are being studied by management. The adjustments reflected herein are based on current assumptions and valuations, which are subject to change. For purposes of the pro forma adjustments shown here, we have estimated a core deposit intangible of $204 million, a purchased credit card relationship intangible of $5,468 million, an affinity relationship intangible of $2,018 million and other intangibles of $352 million. We estimate these intangibles will be amortized over a period not to exceed 15 years, on an accelerated basis for the core deposit intangible, purchased credit card relationship intangible and affinity relationship intangible and a straight-line basis for the other intangibles. The value of the intangibles represents the estimated future economic benefit resulting from the acquired customer balances and relationships. This value was estimated by considering cash flows from the current balances of accounts, expected growth or attrition in balances, and the estimated life of the relationship. The impact of these adjustments is to increase Amortization of Intangibles by $538 million for the twelve months ended December 31, 2004 and 2005 and by approximately $133 million, $134 million and $135 million for the three months ended March 31, June 30 and September 30, 2004 and 2005, respectively. Changes to these intangible estimates are possible when our analysis is completed.

(G)	Adjustment to fair-value other assets including residual interests in securitizations, prepaid pension asset, deferred costs, computer software, and other miscellaneous items.

(H)

Adjustment to fair-value fixed-rate deposit liabilities based on current interest rates for similar instruments. The adjustment will be recognized over the estimated remaining term of the related deposit liability. The impact of the adjustment was to decrease interest expense by approximately $67 million for the twelve months ended December 31, 2004 and 2005 and approximately $27 million, $20 million and $13 million for the three months ended March 31, June 30 and September 30, 2004 and 2005, respectively.

(I)

Adjustment to fair-value short-term borrowings. The adjustment will be recognized over the estimated remaining life of the related instruments. The impact of the adjustment was to decrease interest expense by $3 million for the twelve months ended December 31, 2004 and 2005 and $1.2 million, $.9 million and $.6 million for the three months ended March 31, June 30 and September 30, 2004 and 2005, respectively.

(J)

Adjustment to Accrued Expenses and Other liabilities consist of $737 that mainly reflects the fair value of pension liabilities, change in control liabilities, write-off of deferred revenue, and $516 million of net deferred tax liabilities resulting from the pro forma adjustments. Deferred taxes were recorded using Bank of America’s expected statutory rates ranging from 30% to 37%, depending on the tax jurisdiction.

(K)	For purposes of the pro forma adjustments shown here, we have estimated the MBNA exit and termination liability to be $601 million. Included in the $601 million are estimated severance and relocation costs of $429 million and estimated contract termination costs of $172 million.

(L)

Adjustment to fair-value outstanding long-term debt instruments. The adjustment will be recognized over the remaining life of the long-term debt instruments. The impact of the adjustment was to decrease interest expense by approximately $112 million for the twelve months ended December 31, 2004 and 2005 and approximately $28 million for the three months ended March 31, June 30 and September 30, 2004 and 2005.

(M)	Adjustment to eliminate MBNA’s historical stockholders’ equity. Additionally, the adjustment reflects the issuance of Bank of America common stock and the conversion of MBNA stock options into Bank of America stock options.

(N)

Adjustment to reclassify MBNA’s compensation paid to Affinity relationships from Net Interest Income to Card Income to conform to Bank of America’s classification. The impact of this reclassification adjustment is $110 million for the twelve months ended December 31, 2004 and 2005, and $23 million, $27 million and $30 million for the three months ended March 31, June 30, and September 30, 2004 and 2005, respectively.

(O)

Adjustment of $44 million to reflect the net write-off of deferred fees and costs classified in Other Assets and Accrued Expenses and Other Liabilities as part of purchase accounting. The impact of this adjustment is to increase Card Income by $44 million for the twelve months ended December 31, 2004 and 2005 and $18 million, $13 million, $9 million for the three months ended March 31, June 30, and September 30, 2004 and 2005, respectively.

(P)

Adjustment to reclassify MBNA’s agency fees from Other General Operating Expense to Provision for Credit Losses as a contra to recoveries to conform to Bank of America’s classification. The impact of this reclassification adjustment is $67 million for the twelve months ended December 31, 2004 and 2005, and $15 million, $16 million and $18 million for the three months ended March 31, June 30, and September 30, 2004 and 2005, respectively.

(Q)	Adjustment of $50 million to reflect amortization of acquired computer software for the twelve months ended December 31, 2004 and 2005 and $13 million for the three months ended March 31, June 30 and September 30, 2004 and 2005.

(R)

Adjustment to reclassify MBNA’s direct mail postage expense from Other General Operating Expense to Marketing Expense to confirm with Bank of America’s classification. The impact of this reclassification adjustment is $206 million for the twelve months ended December 31, 2004 and 2005, and $37 million, $64 million and $64 million for the three months ended March 31, June 30, and September 30, 2004 and 2005, respectively.

(S)	Adjustment to record the tax effect of the pro forma adjustments using Bank of America’s expected statutory rates ranging from 30% to 37% depending on the tax jurisdiction.

(T)

Weighted average shares were calculated using the historical weighted average shares outstanding for Bank of America and MBNA, adjusted using the exchange ratio, to the equivalent shares of Bank of America common stock, for the year ended December 31, 2004 and 2005. Earnings per share data has been computed based on the combined historical income of Bank of America, income from MBNA and the impact of purchase accounting adjustments.

Note 3 - Reclassification

As part of its credit portfolio management, the Corporation purchases credit protection through credit derivatives. Effective January 1, 2006, the Corporation classifies the impact of these credit derivatives that economically hedge the portfolio in Other Income. Prior to January 1, 2006, the impact was classified in Trading Account Profits. The Unaudited Pro Forma Condensed Combined Statements of Income reflect this reclassification.

Note 4 – Realignment of Bank of America Business Segments

Prior to January 1, 2006, the Corporation reported its results of operations through four business segments: Global Consumer and Small Business Banking (“GCSBB”), Global Business and Financial Services (“GBFS”), Global Capital Markets and Investment Banking and Global Wealth and Investment Management (“GWIM”). All Other consists primarily of Equity Investments, the residual impact of the allowance for credit losses process, Merger and Restructuring Charges, intersegment eliminations, and the results of certain consumer finance and commercial lending businesses that are being liquidated. All Other also includes certain amounts associated with the Asset and Liability Management (ALM) process, including the impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that do not qualify for FASB Statement No. 133, “Accounting for Derivative Instruments and Hedging Activities, as amended,” (SFAS 133) hedge accounting treatment, gains or losses on sales of whole mortgage loans, and Gains on Sales of Debt Securities.

Effective January 1, 2006, GBFS was combined with Global Capital Markets and Investment Banking. The new combined segment is called Global Corporate and Investment Banking (“GCIB”). This new segment enables us to more effectively leverage the full breadth of the Corporation to better service our business clients. With this combination, teams of consumer, commercial and investment bankers work together to provide all clients, regardless of size, the right combination of products and services to meet their needs.

As part of the business segment realignment, certain equity investment gains recorded in GWIM were reclassified to All Other. All references to Net Income and Total Revenue amounts in the Equity Investments business within All Other primarily represent Principal Investing in addition to the Equity Investment Gains impact of the other portfolios within All Other.

The business segment information presented below presents Net Interest Income on a fully taxable-equivalent (FTE) basis. The adjustment of Net Interest Income to a FTE basis results in a corresponding increase in Income Tax Expense. The Net Interest Income of the business segments includes the results of a funds transfer pricing process that matches assets and liabilities with similar interest rate sensitivity and maturity characteristics. Net Interest Income of the business segments also includes an allocation of Net Interest Income generated by the Corporation’s ALM process.

For illustrative purposes only, the following business segment information presents the effect of the MBNA pro forma adjustments on the realigned business segments.

Bank of America

Pro Forma Condensed Combined Statement of Income

(unaudited)

The following 2005 pro forma condensed combined financial information and explanatory notes present how the combined financial statements of Bank of America and MBNA may have appeared had the businesses actually been combined at the beginning of 2005. The following 2004 pro forma condensed combined financial information and explanatory notes present how the combined financial statements of Bank of America, FleetBoston and MBNA may have appeared had the businesses actually been combined at the beginning of 2004. The pro forma combined financial information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented and had the impact of possible revenue enhancements, expense efficiencies, hedging activities, asset dispositions, and share repurchases, among other factors, been considered.


($ in millions)	For the year ended December 31, 2005
($ in millions)	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other			Total Corporation Combined
Net interest income⁽¹⁾	$	20,183		$	11,182		$	3,868		$	(1,204	)	$	34,029

Noninterest income
Service charges		4,997			2,618			89			1			7,705
Investment and brokerage services		—			1,046			3,140			(2	)		4,184
Mortgage banking income		1,048			10			43			(260	)		841
Investment banking income		—			1,892			5			(41	)		1,856
Equity investment gains		—			247			—			1,793			2,040
Card income		12,128			685			—			(36	)		12,777
Trading account profits		(33	)		1,770			96			(95	)		1,738
Other income		593			1,263			123			(473	)		1,506

Total noninterest income		18,733			9,531			3,496			887			32,647

Total revenue⁽¹⁾		38,916			20,713			7,364			(317	)		66,676

Provision for credit losses		5,338			(289	)		(7	)		40			5,082

Gains on sales of debt securities		(2	)		263			—			823			1,084

Total noninterest expense		19,914			11,141			3,704			831			35,590

Income before income taxes		13,662			10,124			3,667			(365	)		27,088

Income tax expense		4,903			3,675			1,318			(965	)		8,931

Net income	$	8,759		$	6,449		$	2,349		$	600		$	18,157


($ in millions)	For the year ended December 31, 2004
($ in millions)	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	19,553		$	11,629		$	3,216		$	(1,567	)	$	32,831

Noninterest income
Service charges		4,485			2,752			84			(1	)		7,320
Investment and brokerage services		—			918			3,128			(1	)		4,045
Mortgage banking income		633			20			58			(247	)		464
Investment banking income		—			1,942			22			(48	)		1,916
Equity investment gains		—			112			6			832			950
Card income		12,315			541			—			(41	)		12,815
Trading account profits		(426	)		1,345			128			2			1,049
Other income		575			1,000			100			289			1,964

Total noninterest income		17,582			8,630			3,526			785			30,523

Total revenue⁽¹⁾		37,135			20,259			6,742			(782	)		63,354

Provision for credit losses		4,688			(791	)		(19	)		105			3,983

Gains on sales of debt securities		118			(10	)		—			1,667			1,775

Total noninterest expense		19,531			11,007			4,028			431			34,997

Income before income taxes		13,034			10,033			2,733			349			26,149

Income tax expense		4,749			3,598			1,030			(528	)		8,849

Net income	$	8,285		$	6,435		$	1,703		$	877		$	17,300

⁽¹⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Consumer and Small Business Banking

(unaudited)


	For the year ended December 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	16,853		$	2,887		$	443		$	20,183

Noninterest income
Service charges		4,996			1			—			4,997
Investment and brokerage services		—			—			—			—
Mortgage banking income		1,012			36			—			1,048
Investment banking income		—			—			—			—
Equity investment gains		—			—			—			—
Card income		5,084			7,110			(66	)		12,128
Trading account profits		(13	)		(20	)		—			(33	)
Other income		353			240			—			593

Total noninterest income		11,432			7,367			(66	)		18,733

Total revenue (FTE basis)⁽²⁾		28,285			10,254			377			38,916

Provision for credit losses		4,271			1,000			67			5,338

Gains on sales of debt securities		(2	)		—			—			(2	)

Total noninterest expense		13,179			6,269			466			19,914

Income before income taxes		10,833			2,985			(156	)		13,662

Income tax expense		3,888			1,073			(58	)		4,903

Net Income	$	6,945		$	1,912		$	(98	)	$	8,759


	For the year ended December 31, 2004
*($ in millions)*	Bank of America			FleetBoston		FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	15,721		$	986	$	(10	)	$	2,413		$	443		$	19,553

Noninterest income
Service charges		4,330			192		(38	)		1			—			4,485
Investment and brokerage services		—			—		—			—			—			—
Mortgage banking income		589			5		—			39			—			633
Investment banking income		—			—		—			—			—			—
Equity investment gains		—			—		—			—			—			—
Card income		4,082			120		148			8,031			(66	)		12,315
Trading account profits		(367	)		6		—			(65	)		—			(426	)
Other income		329			21		—			225			—			575

Total noninterest income		8,963			344		110			8,231			(66	)		17,582

Total revenue (FTE basis)⁽²⁾		24,684			1,330		100			10,644			377			37,135

Provision for credit losses		3,331			143		—			1,147			67			4,688

Gains on sales of debt securities		117			—		—			1			—			118

Total noninterest expense		12,353			632		133			5,947			466			19,531

Income before income taxes		9,117			555		(33	)		3,551			(156	)		13,034

Income tax expense		3,316			257		(43	)		1,277			(58	)		4,749

Net Income	$	5,801		$	298	$	10		$	2,274		$	(98	)	$	8,285

⁽¹⁾

Reflects purchase accounting adjustments which were allocated to the business segments and All Other primarily based on how the assets acquired and liabilities assumed in the MBNA Merger were allocated to the respective business segments and All Other. See also Notes to Unaudited Pro Forma Condensed Combined Financial Information.

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Corporate and Investment Banking

(unaudited)


	For the year ended December 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	11,157		$	(124	)	$	149		$	11,182

Noninterest income
Service charges		2,618			—			—			2,618
Investment and brokerage services		1,046			—			—			1,046
Mortgage banking income		10			—			—			10
Investment banking income		1,892			—			—			1,892
Equity investment gains		247			—			—			247
Card income		668			23			(6	)		685
Trading account profits		1,770			—			—			1,770
Other income		1,192			72			(1	)		1,263

Total noninterest income		9,443			95			(7	)		9,531

Total revenue (FTE basis)⁽²⁾		20,600			(29	)		142			20,713

Provision for credit losses		(290	)		1			—			(289	)

Gains on sales of debt securities		263			—			—			263

Total noninterest expense		11,111			29			1			11,141

Income before income taxes		10,042			(59	)		141			10,124

Income tax expense		3,644			(21	)		52			3,675

Net Income	$	6,398		$	(38	)	$	89		$	6,449


	For the year ended December 31, 2004
*($ in millions)*	Bank of America			FleetBoston		FleetBoston Pro Forma Adjustments			MBNA		MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	10,671		$	736	$	21		$	52	$	149		$	11,629

Noninterest income
Service charges		2,577			175		—			—		—			2,752
Investment and brokerage services		872			46		—			—		—			918
Mortgage banking income		14			6		—			—		—			20
Investment banking income		1,915			27		—			—		—			1,942
Equity investment gains		110			2		—			—		—			112
Card income		511			9		—			27		(6	)		541
Trading account profits		1,284			61		—			—		—			1,345
Other income		699			237		—			65		(1	)		1,000

Total noninterest income		7,982			563		—			92		(7	)		8,630

Total revenue (FTE basis)⁽²⁾		18,653			1,299		21			144		142			20,259

Provision for credit losses		(886	)		95		—			—		—			(791	)

Gains on sales of debt securities		(10	)		—		—			—		—			(10	)

Total noninterest expense		10,286			659		25			36		1			11,007

Income before income taxes		9,243			545		(4	)		108		141			10,033

Income tax expense		3,317			196		(6	)		39		52			3,598

Net Income	$	5,926		$	349	$	2		$	69	$	89		$	6,435

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Wealth and Investment Management

(unaudited)


	For the year ended December 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	3,815		$	(77	)	$	130	$	3,868

Noninterest income
Service charges		89			—			—		89
Investment and brokerage services		3,140			—			—		3,140
Mortgage banking income		43			—			—		43
Investment banking income		5			—			—		5
Equity investment gains		—			—			—		—
Card income		—			—			—		—
Trading account profits		96			—			—		96
Other income		123			—			—		123

Total noninterest income		3,496			—			—		3,496

Total revenue (FTE basis)⁽²⁾		7,311			(77	)		130		7,364

Provision for credit losses		(7	)		—			—		(7	)

Gains on sales of debt securities		—			—			—		—

Total noninterest expense		3,704			—			—		3,704

Income before income taxes		3,614			(77	)		130		3,667

Income tax expense		1,298			(28	)		48		1,318

Net Income	$	2,316		$	(49	)	$	82	$	2,349


	For the year ended December 31, 2004
*($ in millions)*	Bank of America			FleetBoston			FleetBoston Pro Forma Adjustments			MBNA		MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	2,921		$	114		$	—		$	51	$	130	$	3,216

Noninterest income
Service charges		82			2			—			—		—		84
Investment and brokerage services		2,743			385			—			—		—		3,128
Mortgage banking income		58			—			—			—		—		58
Investment banking income		19			3			—			—		—		22
Equity investment gains		3			3			—			—		—		6
Card income		—			—			—			—		—		—
Trading account profits		86			42			—			—		—		128
Other income		88			12			—			—		—		100

Total noninterest income		3,079			447			—			—		—		3,526

Total revenue (FTE basis)⁽²⁾		6,000			561			—			51		130		6,742

Provision for credit losses		(22	)		3			—			—		—		(19	)

Gains on sales of debt securities		—			—			—			—		—		—

Total noninterest expense		3,460			555			12			1		—		4,028

Income before income taxes		2,562			3			(12	)		50		130		2,733

Income tax expense		931			49			(16	)		18		48		1,030

Net Income	$	1,631		$	(46	)	$	4		$	32	$	82	$	1,703

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

All Other

(unaudited)


	For the year ended December 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(1,088	)	$	99		$	(215	)	$	(1,204	)
Noninterest income
Service charges		1			—			—			1
Investment and brokerage services		(2	)		—			—			(2	)
Mortgage banking income		(260	)		—			—			(260	)
Investment banking income		(41	)		—			—			(41	)
Equity investment gains		1,793			—			—			1,793
Card income		1			(37	)		—			(36	)
Trading account profits		(90	)		(5	)		—			(95	)
Other income		(419	)		(55	)		1			(473	)

Total noninterest income		983			(97	)		1			887

Total revenue⁽²⁾		(105	)		2			(214	)		(317	)
Provision for credit losses		40			—			—			40
Gains on sales of debt securities		823			—			—			823
Total noninterest expense		687			118			26			831

Income before income taxes		(9	)		(116	)		(240	)		(365	)
Income tax expense		(815	)		(62	)		(88	)		(965	)

Net Income	$	806		$	(54	)	$	(152	)	$	600


	For the year ended December 31, 2004
*($ in millions)*	Bank of America (restated)			FleetBoston			FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(1,353	)	$	(110	)	$	71		$	40		$	(215	)	$	(1,567	)
Noninterest income
Service charges		—			(1	)		—			—			—			(1	)
Investment and brokerage services		(1	)		—			—			—			—			(1	)
Mortgage banking income		(247	)		—			—			—			—			(247	)
Investment banking income		(48	)		—			—			—			—			(48	)
Equity investment gains		750			82			—			—			—			832
Card income		(1	)		(1	)		—			(39	)		—			(41	)
Trading account profits		10			(8	)		—			—			—			2
Other income		518			(40	)		—			(190	)		1			289

Total noninterest income		981			32			—			(229	)		1			785

Total revenue⁽²⁾		(372	)		(78	)		71			(189	)		(214	)		(782	)
Provision for credit losses		346			(241	)		—			—			—			105
Gains on sales of debt securities		1,617			50			—			—			—			1,667
Total noninterest expense		913			124			(21	)		(611	)		26			431

Income before income taxes		(14	)		89			92			422			(240	)		349
Income tax expense		(603	)		(78	)		121			120			(88	)		(528	)

Net Income	$	589		$	167		$	(29	)	$	302		$	(152	)	$	877

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

(unaudited)


	For the quarter ended March 31, 2005
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	5,029		$	2,877		$	979		$	(544	)	$	8,341

Noninterest income
Service charges		1,104			650			21			2			1,777
Investment and brokerage services		—			246			767			—			1,013
Mortgage banking income		282			—			10			(63	)		229
Investment banking income		1			372			1			(8	)		366
Equity investment gains		—			135			—			264			399
Card income		2,857			150			—			(9	)		2,998
Trading account profits		(13	)		661			32			(11	)		669
Other income		149			399			27			(251	)		324

Total noninterest income		4,380			2,613			858			(76	)		7,775

Total revenue⁽¹⁾		9,409			5,490			1,837			(620	)		16,116

Provision for credit losses		1,012			(151	)		2			19			882

Gains on sales of debt securities		(1	)		30			—			630			659

Total noninterest expense		4,838			2,713			909			819			9,279

Income before income taxes		3,558			2,958			926			(828	)		6,614

Income tax expense		1,261			1,085			327			(496	)		2,177

Net income	$	2,297		$	1,873		$	599		$	(332	)	$	4,437


	For the quarter ended March 31, 2004
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	4,792		$	3,015		$	773		$	(407	)	$	8,173
Noninterest income
Service charges		1,026			699			21			—			1,746
Investment and brokerage services		—			246			820			—			1,066
Mortgage banking income		251			9			19			(51	)		228
Investment banking income		—			436			7			(9	)		434
Equity investment gains		—			37			3			180			220
Card income		2,849			110			—			(13	)		2,946
Trading account profits		(305	)		349			47			12			103
Other income		151			328			31			86			596

Total noninterest income		3,972			2,214			948			205			7,339

Total revenue⁽¹⁾		8,764			5,229			1,721			(202	)		15,512

Provision for credit losses		951			88			(6	)		(29	)		1,004

Gains on sales of debt securities		1			(7	)		—			550			544

Total noninterest expense		4,932			2,840			1,287			16			9,075

Income before income taxes		2,882			2,294			440			361			5,977

Income tax expense		1,078			819			198			(53	)		2,042

Net income	$	1,804		$	1,475		$	242		$	414		$	3,935

⁽¹⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Consumer and Small Business Banking

(unaudited)


	For the quarter ended March 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	4,215		$	668		$	146		$	5,029

Noninterest income
Service charges		1,104			—			—			1,104
Investment and brokerage services		—			—			—			—
Mortgage banking income		274			8			—			282
Investment banking income		1			—			—			1
Equity investment gains		—			—			—			—
Card income		1,144			1,718			(5	)		2,857
Trading account profits		3			(16	)		—			(13	)
Other income		112			38			(1	)		149

Total noninterest income		2,638			1,748			(6	)		4,380

Total revenue (FTE basis)⁽²⁾		6,853			2,416			140			9,409

Provision for credit losses		710			287			15			1,012

Gains on sales of debt securities		(1	)		—			—			(1	)

Total noninterest expense		3,238			1,484			116			4,838

Income before income taxes		2,904			645			9			3,558

Income tax expense		1,026			232			3			1,261

Net Income	$	1,878		$	413		$	6		$	2,297


	For the quarter ended March 31, 2004
*($ in millions)*	Bank of America			FleetBoston		FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	3,052		$	986	$	(10	)	$	618		$	146		$	4,792

Noninterest income
Service charges		872			192		(38	)		—			—			1,026
Investment and brokerage services		—			—		—			—			—			—
Mortgage banking income		238			5		—			8			—			251
Investment banking income		—			—		—			—			—			—
Equity investment gains		—			—		—			—			—			—
Card income		698			120		148			1,888			(5	)		2,849
Trading account profits		(296	)		6		—			(15	)		—			(305	)
Other income		65			21		—			66			(1	)		151

Total noninterest income		1,577			344		110			1,947			(6	)		3,972

Total revenue (FTE basis)⁽²⁾		4,629			1,330		100			2,565			140			8,764

Provision for credit losses		428			143		—			365			15			951

Gains on sales of debt securities		1			—		—			—			—			1

Total noninterest expense		2,522			632		133			1,529			116			4,932

Income before income taxes		1,680			555		(33	)		671			9			2,882

Income tax expense		620			257		(43	)		241			3			1,078

Net Income	$	1,060		$	298	$	10		$	430		$	6		$	1,804

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Corporate and Investment Banking

(unaudited)


	For the quarter ended March 31, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,856		$	(15	)	$	36		$	2,877

Noninterest income
Service charges		650			—			—			650
Investment and brokerage services		246			—			—			246
Mortgage banking income		—			—			—			—
Investment banking income		372			—			—			372
Equity investment gains		135			—			—			135
Card income		146			6			(2	)		150
Trading account profits		661			—			—			661
Other income		381			18			—			399

Total noninterest income		2,591			24			(2	)		2,613

Total revenue (FTE basis)⁽²⁾		5,447			9			34			5,490

Provision for credit losses		(151	)		—			—			(151	)

Gains on sales of debt securities		30			—			—			30

Total noninterest expense		2,705			8			—			2,713

Income before income taxes		2,923			1			34			2,958

Income tax expense		1,072			—			13			1,085

Net Income	$	1,851		$	1		$	21		$	1,873


	For the quarter ended March 31, 2004
*($ in millions)*	Bank of America			FleetBoston		FleetBoston Pro Forma Adjustments			MBNA		MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,195		$	736	$	21		$	27	$	36		$	3,015

Noninterest income
Service charges		524			175		—			—		—			699
Investment and brokerage services		200			46		—			—		—			246
Mortgage banking income		3			6		—			—		—			9
Investment banking income		409			27		—			—		—			436
Equity investment gains		35			2		—			—		—			37
Card income		97			9		—			6		(2	)		110
Trading account profits		288			61		—			—		—			349
Other income		75			237		—			16		—			328

Total noninterest income		1,631			563		—			22		(2	)		2,214

Total revenue (FTE basis)⁽²⁾		3,826			1,299		21			49		34			5,229

Provision for credit losses		(7	)		95		—			—		—			88

Gains on sales of debt securities		(7	)		—		—			—		—			(7	)

Total noninterest expense		2,149			659		25			7		—			2,840

Income before income taxes		1,677			545		(4	)		42		34			2,294

Income tax expense		601			196		(6	)		15		13			819

Net Income	$	1,076		$	349	$	2		$	27	$	21		$	1,475

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Wealth and Investment Management

(unaudited)


	For the quarter ended March 31, 2005
(*$ in millions)*	Bank of America		MBNA			MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	955	$	(6	)	$	30	$	979

Noninterest income
Service charges		21		—			—		21
Investment and brokerage services		767		—			—		767
Mortgage banking income		10		—			—		10
Investment banking income		1		—			—		1
Equity investment gains		—		—			—		—
Card income		—		—			—		—
Trading account profits		32		—			—		32
Other income		27		—			—		27

Total noninterest income		858		—			—		858

Total revenue (FTE basis)⁽²⁾		1,813		(6	)		30		1,837

Provision for credit losses		2		—			—		2

Gains on sales of debt securities		—		—			—		—

Total noninterest expense		909		—			—		909

Income before income taxes		902		(6	)		30		926

Income tax expense		318		(2	)		11		327

Net Income	$	584	$	(4	)	$	19	$	599


	For the quarter ended March 31, 2004
*($ in millions*)	Bank of America			FleetBoston			FleetBoston Pro Forma Adjustments			MBNA		MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	609		$	114		$	—		$	20	$	30	$	773

Noninterest income
Service charges		19			2			—			—		—		21
Investment and brokerage services		435			385			—			—		—		820
Mortgage banking income		19			—			—			—		—		19
Investment banking income		4			3			—			—		—		7
Equity investment gains		—			3			—			—		—		3
Card income		—			—			—			—		—		—
Trading account profits		5			42			—			—		—		47
Other income		19			12			—			—		—		31

Total noninterest income		501			447			—			—		—		948

Total revenue (FTE basis)⁽²⁾		1,110			561			—			20		30		1,721

Provision for credit losses		(9	)		3			—			—		—		(6	)

Gains on sales of debt securities		—			—			—			—		—		—

Total noninterest expense		720			555			12			—		—		1,287

Income before income taxes		399			3			(12	)		20		30		440

Income tax expense		147			49			(16	)		7		11		198

Net Income	$	252		$	(46	)	$	4		$	13	$	19	$	242

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

All Other

(unaudited)


	For the quarter ended March 31, 2005
*($ in millions)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(520	)	$	24		$	(48	)	$	(544	)

Noninterest income
Service charges		2			—			—			2
Investment and brokerage services		—			—			—			—
Mortgage banking income		(63	)		—			—			(63	)
Investment banking income		(8	)		—			—			(8	)
Equity investment gains		264			—			—			264
Card income		(1	)		(8	)		—			(9	)
Trading account profits		(11	)		—			—			(11	)
Other income		(238	)		(14	)		1			(251	)

Total noninterest income		(55	)		(22	)		1			(76	)

Total revenue⁽²⁾		(575	)		2			(47	)		(620	)

Provision for credit losses		19			—			—			19

Gains on sales of debt securities		630			—			—			630

Total noninterest expense		205			607			7			819

Income before income taxes		(169	)		(605	)		(54	)		(828	)

Income tax expense		(249	)		(227	)		(20	)		(496	)

Net Income	$	80		$	(378	)	$	(34	)	$	(332	)


	For the quarter ended March 31, 2004
*($ in millions)*	Bank of America (restated)			FleetBoston			FleetBoston Pro Forma Adjustments			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(327	)	$	(110	)	$	71		$	7		$	(48	)	$	(407	)

Noninterest income
Service charges		1			(1	)		—			—			—			—
Investment and brokerage services		—			—			—			—			—			—
Mortgage banking income		(51	)		—			—			—			—			(51	)
Investment banking income		(9	)		—			—			—			—			(9	)
Equity investment gains		98			82			—			—			—			180
Card income		—			—			—			(13	)		—			(13	)
Trading account profits		20			(8	)		—			—			—			12
Other income		181			(40	)		—			(56	)		1			86

Total noninterest income		240			33			—			(69	)		1			205

Total revenue⁽²⁾		(87	)		(77	)		71			(62	)		(47	)		(202	)

Provision for credit losses		212			(241	)		—			—			—			(29	)

Gains on sales of debt securities		501			49			—			—			—			550

Total noninterest expense		39			123			(21	)		(132	)		7			16

Income before income taxes		163			90			92			70			(54	)		361

Income tax expense		(97	)		(77	)		121			20			(20	)		(53	)

Net Income	$	260		$	167		$	(29	)	$	50		$	(34	)	$	414

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

(unaudited)

The following pro forma condensed combined financial information and explanatory notes present how the combined financial statements of Bank of America and MBNA may have appeared had the businesses actually been combined at the beginning of the period presented. The pro forma combined financial information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented and had the impact of possible revenue enhancements, expense efficiencies, hedging activities, asset dispositions, and share repurchases, among other factors, been considered.


	For the quarter ended June 30, 2005
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	4,889		$	2,793		$	938		$	(183	)	$	8,437

Noninterest income
Service charges		1,244			655			21			—			1,920
Investment and brokerage services		—			262			788			(1	)		1,049
Mortgage banking income		250			4			13			(65	)		202
Investment banking income		(1	)		441			1			(10	)		431
Equity investment gains		—			13			—			479			492
Card income		3,118			170			—			(11	)		3,277
Trading account profits		(15	)		232			19			(24	)		212
Other income		98			371			24			758			1,251

Total noninterest income		4,694			2,148			866			1,126			8,834

Total revenue⁽¹⁾		9,583			4,941			1,804			943			17,271

Provision for credit losses		1,344			(249	)		(9	)		(22	)		1,064

Gains on sales of debt securities		—			121			—			204			325

Total noninterest expense		4,984			2,612			925			3			8,524

Income before income taxes		3,255			2,699			888			1,166			8,008
Income tax expense		1,174			979			321			254			2,728

Net income	$	2,081		$	1,720		$	567		$	912		$	5,280


	For the quarter ended June 30, 2004
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	4,802		$	2,951		$	739		$	(386	)	$	8,106

Noninterest income
Service charges		1,106			653			21			3			1,783
Investment and brokerage services		—			228			771			—			999
Mortgage banking income		355			5			18			(69	)		309
Investment banking income		—			562			5			(20	)		547
Equity investment gains		—			14			1			69			84
Card income		2,966			127			—			(9	)		3,084
Trading account profits		(75	)		431			34			17			407
Other income		140			241			23			(799	)		(395	)

Total noninterest income		4,492			2,261			873			(808	)		6,818

Total revenue⁽¹⁾		9,294			5,212			1,612			(1,194	)		14,924

Provision for credit losses		916			(6	)		8			139			1,057

Gains on sales of debt securities		(2	)		(4	)		—			801			795

Total noninterest expense		4,840			3,121			916			(185	)		8,692

Income before income taxes		3,536			2,093			688			(347	)		5,970

Income tax expense		1,289			755			250			(316	)		1,978

Net income	$	2,247		$	1,338		$	438		$	(31	)	$	3,992

⁽¹⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Consumer and Small Business Banking

(unaudited)


	For the quarter ended June 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	4,089		$	677		$	123		$	4,889

Noninterest income
Service charges		1,244			—			—			1,244
Investment and brokerage services		—			—			—			—
Mortgage banking income		237			13			—			250
Investment banking income		(1	)		—			—			(1	)
Equity investment gains		—			—			—			—
Card income		1,272			1,859			(13	)		3,118
Trading account profits		(9	)		(6	)		—			(15	)
Other income		67			31			—			98

Total noninterest income		2,810			1,897			(13	)		4,694

Total revenue (FTE basis)⁽²⁾		6,899			2,574			110			9,583

Provision for credit losses		1,155			173			16			1,344

Gains on sales of debt securities		—			—			—			—

Total noninterest expense		3,346			1,522			116			4,984

Income before income taxes		2,398			879			(22	)		3,255

Income tax expense		866			316			(8	)		1,174

Net Income	$	1,532		$	563		$	(14	)	$	2,081


	For the quarter ended June 30, 2004
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	4,122		$	557		$	123		$	4,802

Noninterest income
Service charges		1,106			—			—			1,106
Investment and brokerage services		—			—			—			—
Mortgage banking income		345			10			—			355
Investment banking income		—			—			—			—
Equity investment gains		—			—			—			—
Card income		1,038			1,941			(13	)		2,966
Trading account profits		(60	)		(15	)		—			(75	)
Other income		74			66			—			140

Total noninterest income		2,503			2,002			(13	)		4,492

Total revenue (FTE basis)⁽²⁾		6,625			2,559			110			9,294

Provision for credit losses		648			252			16			916

Gains on sales of debt securities		(2	)		—			—			(2	)

Total noninterest expense		3,245			1,479			116			4,840

Income before income taxes		2,730			828			(22	)		3,536
Income tax expense		999			298			(8	)		1,289

Net Income	$	1,731		$	530		$	(14	)	$	2,247

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Corporate and Investment Banking

(unaudited)


	For the quarter ended June 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,783		$	(27	)	$	37		$	2,793

Noninterest income
Service charges		655			—			—			655
Investment and brokerage services		262			—			—			262
Mortgage banking income		4			—			—			4
Investment banking income		441			—			—			441
Equity investment gains		13			—			—			13
Card income		165			7			(2	)		170
Trading account profits		232			—			—			232
Other income		353			18			—			371

Total noninterest income		2,125			25			(2	)		2,148

Total revenue (FTE basis)⁽²⁾		4,908			(2	)		35			4,941

Provision for credit losses		(249	)		—			—			(249	)

Gains on sales of debt securities		121			—			—			121

Total noninterest expense		2,603			9			—			2,612

Income before income taxes		2,675			(11	)		35			2,699

Income tax expense		970			(4	)		13			979

Net Income	$	1,705		$	(7	)	$	22		$	1,720


	For the quarter ended June 30, 2004
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,894		$	20		$	37		$	2,951

Noninterest income
Service charges		653			—			—			653
Investment and brokerage services		228			—			—			228
Mortgage banking income		5			—			—			5
Investment banking income		562			—			—			562
Equity investment gains		14			—			—			14
Card income		121			8			(2	)		127
Trading account profits		431			—			—			431
Other income		225			16			—			241

Total noninterest income		2,239			24			(2	)		2,261

Total revenue (FTE basis)⁽²⁾		5,133			44			35			5,212

Provision for credit losses		(6	)		—			—			(6	)

Gains on sales of debt securities		(4	)		—			—			(4	)

Total noninterest expense		3,113			8			—			3,121

Income before income taxes		2,022			36			35			2,093

Income tax expense		729			13			13			755

Net Income	$	1,293		$	23		$	22		$	1,338

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Wealth and Investment Management

(unaudited)


	For the quarter ended June 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	923		$	(16	)	$	31		$	938

Noninterest income
Service charges		21			—			—			21
Investment and brokerage services		788			—			—			788
Mortgage banking income		13			—			—			13
Investment banking income		1			—			—			1
Equity investment gains		—			—			—			—
Card income		—			—			—			—
Trading account profits		19			—			—			19
Other income		24			—			—			24

Total noninterest income		866			—			—			866

Total revenue (FTE basis)⁽²⁾		1,789			(16	)		31			1,804

Provision for credit losses		(9	)		—			—			(9	)

Gains on sales of debt securities		—			—			—			—

Total noninterest expense		926			—			(1	)		925

Income before income taxes		872			(16	)		32			888
Income tax expense		315			(6	)		12			321

Net Income	$	557		$	(10	)	$	20		$	567


	For the quarter ended June 30, 2004
(*$ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	691		$	17		$	31		$	739

Noninterest income
Service charges		21			—			—			21
Investment and brokerage services		771			—			—			771
Mortgage banking income		18			—			—			18
Investment banking income		5			—			—			5
Equity investment gains		1			—			—			1
Card income		—			—			—			—
Trading account profits		34			—			—			34
Other income		23			—			—			23

Total noninterest income		873			—			—			873

Total revenue (FTE basis)⁽²⁾		1,564			17			31			1,612

Provision for credit losses		8			—			—			8

Gains on sales of debt securities		—			—			—			—

Total noninterest expense		917			—			(1	)		916

Income before income taxes		639			17			32			688
Income tax expense		232			6			12			250

Net Income	$	407		$	11		$	20		$	438

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

All Other

(unaudited)


	For the quarter ended June 30, 2005
*($ in millions)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(158	)	$	25		$	(50	)	$	(183	)

Noninterest income
Service charges		—			—			—			—
Investment and brokerage services		(1	)		—			—			(1	)
Mortgage banking income		(65	)		—			—			(65	)
Investment banking income		(10	)		—			—			(10	)
Equity investment gains		479			—			—			479
Card income		—			(10	)		(1	)		(11	)
Trading account profits		(20	)		(4	)		—			(24	)
Other income		771			(13	)		—			758

Total noninterest income		1,154			(27	)		(1	)		1,126

Total revenue⁽²⁾		996			(2	)		(51	)		943

Provision for credit losses		(22	)		—			—			(22	)

Gains on sales of debt securities		204			—			—			204

Total noninterest expense		144			(149	)		8			3

Income before income taxes		1,078			147			(59	)		1,166

Income tax expense		215			61			(22	)		254

Net Income	$	863		$	86		$	(37	)	$	912


	For the quarter ended June 30, 2004
*($ in millions)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(341	)	$	5		$	(50	)	$	(386	)

Noninterest income
Service charges		3			—			—			3
Investment and brokerage services		—			—			—			—
Mortgage banking income		(69	)		—			—			(69	)
Investment banking income		(20	)		—			—			(20	)
Equity investment gains		69			—			—			69
Card income		—			(8	)		(1	)		(9	)
Trading account profits		17			—			—			17
Other income		(745	)		(54	)		—			(799	)

Total noninterest income		(745	)		(62	)		(1	)		(808	)

Total revenue⁽²⁾		(1,086	)		(57	)		(51	)		(1,194	)

Provision for credit losses		139			—			—			139

Gains on sales of debt securities		801			—			—			801

Total noninterest expense		(47	)		(146	)		8			(185	)

Income before income taxes		(377	)		89			(59	)		(347	)

Income tax expense		(287	)		(7	)		(22	)		(316	)

Net Income	$	(90	)	$	96		$	(37	)	$	(31	)

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	5,096		$	2,748		$	947		$	(206	)	$	8,585

Noninterest income
Service charges		1,386			671			23			—			2,080
Investment and brokerage services		—			267			793			—			1,060
Mortgage banking income		241			3			14			(67	)		191
Investment banking income		—			532			1			(11	)		522
Equity investment gains		—			72			—			596			668
Card income		3,218			180			—			(10	)		3,388
Trading account profits		(12	)		571			20			(29	)		550
Other income		148			265			30			(538	)		(95	)

Total noninterest income		4,981			2,561			881			(59	)		8,364

Total revenue⁽¹⁾		10,077			5,309			1,828			(265	)		16,949

Provision for credit losses		1,387			12			(1	)		41			1,439

Gains on sales of debt securities		(1	)		17			—			13			29

Total noninterest expense		4,881			2,853			923			67			8,724

Income before income taxes		3,808			2,461			906			(360	)		6,815

Income tax expense		1,386			897			331			(328	)		2,286

Net income	$	2,422		$	1,564		$	575		$	(32	)	$	4,529


	For the quarter ended September 30, 2004
*($ in millions)*	Global Consumer and Small Business Banking			Global Corporate and Investment Banking			Global Wealth and Investment Management			All Other (restated)			Total Corporation Combined
Net interest income⁽¹⁾	$	4,980		$	2,798		$	818		$	(349	)	$	8,247

Noninterest income
Service charges		1,159			717			21			2			1,899
Investment and brokerage services		—			207			765			—			972
Mortgage banking income		(188	)		1			10			(62	)		(239	)
Investment banking income		—			445			7			(14	)		438
Equity investment gains		—			37			1			182			220
Card income		3,212			132			—			(9	)		3,335
Trading account profits		(17	)		232			23			(14	)		224
Other income		143			161			27			931			1,262

Total noninterest income		4,309			1,932			854			1,016			8,111

Total revenue⁽¹⁾		9,289			4,730			1,672			667			16,358

Provision for credit losses		1,304			(389	)		(17	)		43			941

Gains on sales of debt securities		117			1			—			215			333

Total noninterest expense		4,847			2,439			888			286			8,460

Income before income taxes		3,255			2,681			801			553			7,290

Income tax expense		1,181			934			292			82			2,489

Net income	$	2,074		$	1,747		$	509		$	471		$	4,801

⁽¹⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

See Accompanying Notes to Unaudited Pro Forma Condensed Combined Financial Information.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Consumer and Small Business Banking

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	4,224		$	772		$	100		$	5,096

Noninterest income
Service charges		1,386			—			—			1,386
Investment and brokerage services		—			—			—			—
Mortgage banking income		230			11			—			241
Investment banking income		—			—			—			—
Equity investment gains		—			—			—			—
Card income		1,344			1,894			(20	)		3,218
Trading account profits		(6	)		(6	)		—			(12	)
Other income		76			73			(1	)		148

Total noninterest income		3,030			1,972			(21	)		4,981

Total revenue (FTE basis)⁽²⁾		7,254			2,744			79			10,077

Provision for credit losses		1,107			262			18			1,387

Gains on sales of debt securities		(1	)		—			—			(1	)

Total noninterest expense		3,271			1,495			115			4,881

Income before income taxes		2,875			987			(54	)		3,808

Income tax expense		1,051			355			(20	)		1,386

Net Income	$	1,824		$	632		$	(34	)	$	2,422


	For the quarter ended September 30, 2004
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	4,296		$	584		$	100		$	4,980

Noninterest income
Service charges		1,159			—			—			1,159
Investment and brokerage services		—			—			—			—
Mortgage banking income		(199	)		11			—			(188	)
Investment banking income		—			—			—			—
Equity investment gains		—			—			—			—
Card income		1,131			2,101			(20	)		3,212
Trading account profits		(3	)		(14	)		—			(17	)
Other income		82			62			(1	)		143

Total noninterest income		2,170			2,160			(21	)		4,309

Total revenue (FTE basis)⁽²⁾		6,466			2,744			79			9,289

Provision for credit losses		1,013			273			18			1,304

Gains on sales of debt securities		117			—			—			117

Total noninterest expense		3,265			1,467			115			4,847

Income before income taxes		2,305			1,004			(54	)		3,255

Income tax expense		840			361			(20	)		1,181

Net Income	$	1,465		$	643		$	(34	)	$	2,074

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Corporate and Investment Banking

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,747		$	(36	)	$	37		$	2,748

Noninterest income
Service charges		671			—			—			671
Investment and brokerage services		267			—			—			267
Mortgage banking income		3			—			—			3
Investment banking income		532			—			—			532
Equity investment gains		72			—			—			72
Card income		176			6			(2	)		180
Trading account profits		571			—			—			571
Other income		248			17			—			265

Total noninterest income		2,540			23			(2	)		2,561

Total revenue (FTE basis)⁽²⁾		5,287			(13	)		35			5,309

Provision for credit losses		12			—			—			12

Gains on sales of debt securities		17			—			—			17

Total noninterest expense		2,849			4			—			2,853

Income before income taxes		2,443			(17	)		35			2,461

Income tax expense		890			(6	)		13			897

Net Income	$	1,553		$	(11	)	$	22		$	1,564


	For the quarter ended September 30, 2004
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income (FTE basis)⁽²⁾	$	2,749		$	12		$	37		$	2,798

Noninterest income
Service charges		717			—			—			717
Investment and brokerage services		207			—			—			207
Mortgage banking income		1			—			—			1
Investment banking income		445			—			—			445
Equity investment gains		37			—			—			37
Card income		127			7			(2	)		132
Trading account profits		232			—			—			232
Other income		145			16			—			161

Total noninterest income		1,911			23			(2	)		1,932

Total revenue (FTE basis)⁽²⁾		4,660			35			35			4,730

Provision for credit losses		(389	)		—			—			(389	)

Gains on sales of debt securities		1			—			—			1

Total noninterest expense		2,430			9			—			2,439

Income before income taxes		2,620			26			35			2,681

Income tax expense		911			10			13			934

Net Income	$	1,709		$	16		$	22		$	1,747

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

Global Wealth and Investment Management

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	937		$	(24	)	$	34	$	947

Noninterest income
Service charges		23			—			—		23
Investment and brokerage services		793			—			—		793
Mortgage banking income		14			—			—		14
Investment banking income		1			—			—		1
Equity investment gains		—			—			—		—
Card income		—			—			—		—
Trading account profits		20			—			—		20
Other income		30			—			—		30

Total noninterest income		881			—			—		881

Total revenue (FTE basis)⁽²⁾		1,818			(24	)		34		1,828

Provision for credit losses		(1	)		—			—		(1	)

Gains on sales of debt securities		—			—			—		—

Total noninterest expense		922			—			1		923

Income before income taxes		897			(24	)		33		906

Income tax expense		328			(9	)		12		331

Net Income	$	569		$	(15	)	$	21	$	575


	For the quarter ended September 30, 2004
*($ in millions)*	Bank of America			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾		Combined
Net interest income (FTE basis)⁽²⁾	$	771		$	13		$	34	$	818

Noninterest income
Service charges		21			—			—		21
Investment and brokerage services		765			—			—		765
Mortgage banking income		10			—			—		10
Investment banking income		7			—			—		7
Equity investment gains		1			—			—		1
Card income		—			—			—		—
Trading account profits		23			—			—		23
Other income		27			—			—		27

Total noninterest income		854			—			—		854

Total revenue (FTE basis)⁽²⁾		1,625			13			34		1,672

Provision for credit losses		(17	)		—			—		(17	)

Gains on sales of debt securities		—			—			—		—

Total noninterest expense		887			—			1		888


Income before income taxes		755			13			33		801

Income tax expense		275			5			12		292

Net Income	$	480		$	8		$	21	$	509

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Bank of America

Pro Forma Condensed Combined Statement of Income

All Other

(unaudited)


	For the quarter ended September 30, 2005
*($ in millions)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(173	)	$	23		$	(56	)	$	(206	)

Noninterest income
Service charges		—			—			—			—
Investment and brokerage services		—			—			—			—
Mortgage banking income		(67	)		—			—			(67	)
Investment banking income		(11	)		—			—			(11	)
Equity investment gains		596			—			—			596
Card income		—			(10	)		—			(10	)
Trading account profits		(28	)		(1	)		—			(29	)
Other income		(525	)		(14	)		1			(538	)

Total noninterest income		(35	)		(25	)		1			(59	)

Total revenue⁽²⁾		(208	)		(2	)		(55	)		(265	)

Provision for credit losses		41			—			—			41

Gains on sales of debt securities		13			—			—			13

Total noninterest expense		243			(183	)		7			67

Income before income taxes		(479	)		181			(62	)		(360	)

Income tax expense		(374	)		69			(23	)		(328	)

Net Income	$	(105	)	$	112		$	(39	)	$	(32	)


	For the quarter ended September 30, 2004
*($ in millions)*	Bank of America (restated)			MBNA			MBNA Pro Forma Adjustments ⁽¹⁾			Combined
Net interest income⁽²⁾	$	(301	)	$	8		$	(56	)	$	(349	)

Noninterest income
Service charges		2			—			—			2
Investment and brokerage services		—			—			—			—
Mortgage banking income		(62	)		—			—			(62	)
Investment banking income		(14	)		—			—			(14	)
Equity investment gains		182			—			—			182
Card income		—			(9	)		—			(9	)
Trading account profits		(14	)		—			—			(14	)
Other income		983			(53	)		1			931

Total noninterest income		1,077			(62	)		1			1,016

Total revenue⁽²⁾		776			(54	)		(55	)		667

Provision for credit losses		43			—			—			43

Gains on sales of debt securities		215			—			—			215

Total noninterest expense		439			(160	)		7			286

Income before income taxes		509			106			(62	)		553

Income tax expense		60			45			(23	)		82

Net Income	$	449		$	61		$	(39	)	$	471

⁽¹⁾

⁽²⁾	Net Interest Income and Total Revenue for the segments are on a FTE basis. For more information on a FTE basis, see Note 4 on page 15.

Note 5 –Pro Forma Segment Financial Information

GCSBB reports product revenues for Deposits, Mortgage, Card Services, Home Equity Line of Credit (HELOC), and Other. GCIB reports revenues on Business Lending, Capital Markets and Advisory Services, Treasury Services, and Other. GWIM reports revenues on the Private Bank, Columbia Management, Premier Banking and Investments, and Other. For more information on All Other, see Note 4.

The management accounting reporting process derives segment and sub-segment results by utilizing allocation methodologies for revenue, expense, and capital. The net income derived for sub-segments (i.e., Deposits, Mortgage, Card Services, etc) are dependent upon revenue and cost allocations using an activity based costing model, other methodologies, and assumptions management believes that are appropriate to reflect the results of the business. An example, specifically with regard to cost allocation, is where banking center costs are not only allocated to various consumer products (i.e., deposits, mortgage, card, etc) that utilize the banking center, but also are allocated to other sub-segments such as Treasury Services within GCIB. A discussion of the Corporation’s allocation methodologies is presented as part of Business Segment Operations on pages 26 and 27 of the Corporation’s 2005 Form 10-K filed on March 16, 2006.

The Corporation migrates qualifying affluent customers, deposits and net interest income related to those customers from GCSBB to GWIM’s Premier Banking and Investments. To provide a view of organic growth in Premier Banking and Investments, the Corporation allocates the original migrated deposit balances as well as corresponding net interest income at original spreads from Premier Banking and Investments to GWIM’s Other sub-segment. The Corporation believes that the resulting Premier Banking and Investments sub-segment approximates an organic, incremental view of the business.

The following tables present pro forma segment and sub segment financial information for illustrative purposes only.

Bank of America Corporation

Bank of America: Consolidated Income Statement

($ in Millions)


	2005 Pro Forma											2004 Pro Forma												Growth 05 vs 04
	4th Qtr		3rd Qtr			2nd Qtr		1st Qtr		Full Year		4th Qtr		3rd Qtr			2nd Qtr			1st Qtr		Full Year		Growth 05 vs 04
Income Statement
Net interest income	$	8,666	$	8,585		$	8,437	$	8,341	$	34,029	$	8,305	$	8,247		$	8,106		$	8,173	$	32,831	3.6	%

Service charges		1,928		2,080			1,920		1,777		7,705		1,892		1,899			1,783			1,746		7,320	5.3
Investment and brokerage services		1,062		1,060			1,049		1,013		4,184		1,008		972			999			1,066		4,045	3.4
Mortgage banking income		219		191			202		229		841		166		(239	)		309			228		464	81.1
Investment banking income		537		522			431		366		1,856		497		438			547			434		1,916	(3.1	)
Equity investment gains		481		668			492		399		2,040		426		220			84			220		950	114.7
Card income		3,114		3,388			3,277		2,998		12,777		3,450		3,335			3,084			2,946		12,815	(0.3	)
Trading account profits		307		550			212		669		1,738		315		224			407			103		1,049	65.7
Other income		26		(95	)		1,251		324		1,506		501		1,262			(395	)		596		1,964	(23.2	)

Total noninterest income		7,674		8,364			8,834		7,775		32,647		8,255		8,111			6,818			7,339		30,523	7.0

Total revenue		16,340		16,949			17,271		16,116		66,676		16,560		16,358			14,924			15,512		63,354	5.2

Provision for credit losses		1,697		1,439			1,064		882		5,082		981		941			1,057			1,004		3,983	27.6

Gains (losses) on sales of debt securities		71		29			325		659		1,084		103		333			795			544		1,775	(38.9	)

Total noninterest expense		9,063		8,724			8,524		9,279		35,590		8,770		8,460			8,692			9,075		34,997	1.7

Income before income taxes		5,651		6,815			8,008		6,614		27,088		6,912		7,290			5,970			5,977		26,149	3.6

Income tax expense		1,740		2,286			2,728		2,177		8,931		2,340		2,489			1,978			2,042		8,849	0.9

Net income	$	3,911	$	4,529		$	5,280	$	4,437	$	18,157	$	4,572	$	4,801		$	3,992		$	3,935	$	17,300	5.0	%

Average Balance Sheet
Total Loans and Leases	$	598,739	$	573,715		$	550,769	$	555,953	$	569,922	$	546,218	$	533,219		$	525,963		$	531,849	$	534,342	6.7	%

Total Deposits		657,668		663,406			671,681		658,638		662,847		641,838		620,099			614,243			593,465		617,485	7.3

Trading Related Assets		329,858		343,033			344,239		290,868		326,898		285,514		251,617			255,754			257,125		262,526	24.5

Bank of America Corporation

Net Income

($ in Millions)


	2005 Pro Forma															2004 Pro Forma
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year
Global Consumer and Small Business Banking	$	1,959		$	2,422		$	2,081		$	2,297		$	8,759		$	2,160		$	2,074		$	2,247		$	1,804		$	8,285
Deposits		1,256			1,238			1,054			995			4,543			1,068			902			800			611			3,381
Mortgage		97			101			106			115			419			43			(92	)		132			(24	)		59
Card Services (Held)		421			855			620			702			2,598			610			746			811			604			2,771
Home Equity Line of Credit (HELOC)		124			118			109			86			437			69			71			75			58			273
Global Consumer and Small Business ALM ⁽¹⁾		75			140			210			398			823			383			491			472			536			1,882
Global Consumer and Small Business Other		(14	)		(30	)		(18	)		1			(61	)		(13	)		(44	)		(43	)		19			(81	)

Global Corporate and Investment Banking		1,292			1,564			1,720			1,873			6,449			1,875			1,747			1,338			1,475			6,435
Business Lending		424			569			789			775			2,557			846			728			621			652			2,847
Capital Markets and Advisory Services		189			440			330			455			1,414			427			311			595			426			1,759
Treasury Services		532			479			441			413			1,865			407			392			288			290			1,377
Global Corporate and Investment Banking ALM ⁽¹⁾		33			61			91			172			357			167			194			205			221			787
Global Corporate and Investment Banking Other		114			15			69			58			256			28			122			(371	)		(114	)		(335	)

Global Wealth and Investment Management		608			575			567			599			2,349			514			509			438			242			1,703
Private Bank		138			142			161			135			576			102			134			91			104			431
Columbia Management		72			74			65			72			283			64			73			60			89			286
Premier Banking and Investments		255			206			192			170			823			160			125			136			139			560
Global Wealth and Investment Management ALM ⁽¹⁾		29			53			79			145			306			128			136			123			152			539
Global Wealth and Investment Management Other		114			100			70			77			361			60			41			28			(242	)		(113	)

All Other		52			(32	)		912			(332	)		600			23			471			(31	)		414			877
Equity Investments		255			340			264			128			987			212			51			(11	)		23			275
SFAS 133 Restatements		(195	)		(285	)		361			(302	)		(421	)		6			339			(508	)		(33	)		(196	)
Merger & Restructuring		(42	)		(62	)		(96	)		(572	)		(772	)		(181	)		(148	)		(83	)		(6	)		(418	)
Other		34			(25	)		383			414			806			(14	)		229			571			430			1,216

Bank of America Consolidated	$	3,911		$	4,529		$	5,280		$	4,437		$	18,157		$	4,572		$	4,801		$	3,992		$	3,935		$	17,300

⁽¹⁾	ALM represents the allocation of earnings from corporate activities related to interest rate risk and liquidity management

Bank of America Corporation

Total Revenue ⁽¹⁾

($ in Millions)


	2005 Pro Forma															2004 Pro Forma
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year
Global Consumer and Small Business Banking	$	9,847		$	10,077		$	9,583		$	9,409		$	38,916		$	9,788		$	9,289		$	9,294		$	8,764		$	37,135
Deposits		4,068			4,016			3,736			3,467			15,287			3,520			3,400			3,258			3,039			13,217
Mortgage		435			419			424			459			1,737			438			48			569			257			1,312
Card Services (Held)		4,753			4,984			4,662			4,444			18,843			4,794			4,645			4,323			4,201			17,963
Home Equity Line of Credit (HELOC)		350			354			341			323			1,368			327			323			325			266			1,241
Global Consumer and Small Business ALM ⁽²⁾		116			221			328			616			1,281			596			771			743			855			2,965
Global Consumer and Small Business Other		125			83			92			100			400			113			102			76			146			437

Global Corporate and Investment Banking		4,973			5,309			4,941			5,490			20,713			5,088			4,730			5,212			5,229			20,259
Business Lending		1,405			1,496			1,493			1,637			6,031			1,468			1,419			1,451			1,661			5,999
Capital Markets and Advisory Services		1,556			1,860			1,539			1,864			6,819			1,607			1,442			1,969			1,731			6,749
Treasury Services		1,610			1,532			1,484			1,417			6,043			1,423			1,342			1,255			1,202			5,222
Global Corporate and Investment Banking ALM ⁽²⁾		52			95			142			269			558			259			303			321			346			1,229
Global Corporate and Investment Banking Other		350			326			283			303			1,262			331			224			216			289			1,060

Global Wealth and Investment Management		1,895			1,828			1,804			1,837			7,364			1,737			1,672			1,612			1,721			6,742
Private Bank		527			514			538			513			2,092			500			504			489			499			1,992
Columbia Management		346			339			328			332			1,345			330			321			310			383			1,344
Premier Banking and Investments		706			659			611			575			2,551			548			516			524			525			2,113
Global Wealth and Investment Management ALM ⁽²⁾		47			84			125			230			486			204			216			194			241			855
Global Wealth and Investment Management Other		269			232			202			187			890			155			115			95			73			438

All Other		(375	)		(265	)		943			(620	)		(317	)		(53	)		667			(1,194	)		(202	)		(782	)
Equity Investments		429			564			447			231			1,671			372			120			9			61			562
SFAS 133 Restatements		(312	)		(456	)		577			(484	)		(675	)		11			940			(812	)		(53	)		86
Fully Taxable-equivalent (FTE)		(243	)		(200	)		(191	)		(200	)		(834	)		(207	)		(171	)		(170	)		(142	)		(690	)
Other ⁽³⁾		(249	)		(173	)		110			(167	)		(479	)		(229	)		(222	)		(221	)		(68	)		(740	)

Bank of America Consolidated	$	16,340		$	16,949		$	17,271		$	16,116		$	66,676		$	16,560		$	16,358		$	14,924		$	15,512		$	63,354

⁽¹⁾	Segment results are presented on a fully taxable-equivalent (FTE) basis, with the offset in All Other

⁽²⁾	ALM represents the allocation of earnings from corporate activities related to interest rate risk and liquidity management

⁽³⁾	Primarily represents offset of tax equivalent gross-up reflected in the segment revenue results and whole loan gains. Security gains while included in Net Income are excluded from Revenue.

Bank of America Corporation

Summary


	2005 Pro Forma
	Revenue Growth ⁽¹⁾		Expense Growth ⁽²⁾		Operating Leverage ^(1),(2)		Efficiency Ratio ^(1),(2)
Global Consumer and Small Business Banking	4.8	%	2.0	%	2.8	%	51.17	%
Deposits	15.7		3.3		12.3		53.01
Mortgage	32.4		(19.3	)	51.7		61.16
Card Services (Held)	4.9		5.7		(0.8	)	51.63
Home Equity Line of Credit (HELOC)	10.2		(16.7	)	26.9		47.37
Global Consumer and Small Business Other	(8.3	)	(3.9	)	(4.5	)	nm

Global Corporate and Investment Banking	2.2		1.2		1.0		53.79
Business Lending	0.5		(2.1	)	2.6		33.23
Capital Markets and Advisory Services	1.0		14.1		(13.0	)	69.00
Treasury Services	15.7		2.8		12.9		51.86
Global Corporate and Investment Banking Other	19.1		(27.3	)	46.4		nm

Global Wealth and Investment Management	9.2		(8.0	)	17.3		50.30
Private Bank	5.0		(8.8	)	13.8		58.11
Columbia Management	0.1		2.9		(2.8	)	67.20
Premier Banking and Investments	20.7		0.4		20.4		49.23
Global Wealth and Investment Management Other	103.0		(41.9	)	145.0		nm

Bank of America Consolidated	5.2	%	0.1	%	5.1	%	50.97	%

⁽¹⁾	Segment revenue is presented on a fully taxable-equivalent (FTE) basis

⁽²⁾	Excludes merger & restructuring charges

nm	indicates non-meaningful data

Bank of America Corporation

Global Consumer and Small Business Banking

($ in Millions)


	2005 Pro Forma																					2004 Pro Forma
	Total			Deposits ⁽¹⁾			Mortgage			Card Services ⁽²⁾			HELOC			ALM			Other			Total			Deposits ⁽¹⁾			Mortgage			Card Services ⁽²⁾			HELOC			ALM		Other
Income Statement
Net interest income	$	20,183		$	8,680		$	745		$	8,072		$	1,291		$	1,281		$	114		$	19,553		$	7,481		$	1,084		$	6,651		$	1,164		$	2,965	$	208

Service charges		4,997			4,997			—			—			—			—			—			4,485			4,484			—			—			—			—		1
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		1,048			—			971			—			77			—			—			633			—			557			—			76			—		—
Investment banking income		—			—			—			—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—			—			—			—		—
Card income		12,128			1,610			—			10,518			—			—			—			12,315			1,252			—			11,063			—			—		—
Trading account profits ⁽³⁾		(33	)		—			—			(36	)		—			—			3			(426	)		—			(349	)		(86	)		—			—		9
Other income		593			—			21			289			—			—			283			575			—			20			335			1			—		219

Total noninterest income		18,733			6,607			992			10,771			77			—			286			17,582			5,736			228			11,312			77			—		229

Total revenue		38,916			15,287			1,737			18,843			1,368			1,281			400			37,135			13,217			1,312			17,963			1,241			2,965		437

Provision for credit losses		5,338			98			21			5,063			38			—			118			4,688			62			21			4,390			33			—		182
Gains (losses) on sales of debt securities		(2	)		—			—			—			—			—			(2	)		118			—			117			—			—			—		1

Total noninterest expense		19,914			8,103			1,062			9,728			648			(1	)		374			19,531			7,842			1,316			9,206			778			—		389

Income before income taxes		13,662			7,086			654			4,052			682			1,282			(94	)		13,034			5,313			92			4,367			430			2,965		(133	)

Income tax expense		4,903			2,543			235			1,454			245			459			(33	)		4,749			1,932			33			1,596			157			1,083		(52	)

Net income ⁽⁴⁾	$	8,759		$	4,543		$	419		$	2,598		$	437		$	823		$	(61	)	$	8,285		$	3,381		$	59		$	2,771		$	273		$	1,882	$	(81	)

Financial Ratios
Revenue Growth		4.8	%		15.7	%		32.4	%		4.9	%		10.2	%		—			(8.3	)%

Expense Growth		2.0			3.3			(19.3	)		5.7			(16.7	)		—			(3.9	)

Operating Leverage		2.8			12.3			51.7			(0.8	)		26.9			—			(4.5	)

Efficiency Ratio		51.17			53.01			61.16			51.63			47.37			—			nm			52.59	%		59.33	%		100.37	%		51.25	%		62.73	%		—		nm
Average Balance Sheet
Total Loans and Leases	$	176,664		$	—		$	29,506		$	87,120		$	48,405		$	—		$	11,633		$	163,505		$	—		$	35,049		$	77,240		$	40,794		$	—	$	10,422

Total Deposits		332,899			332,899			—			—			—			—			—			329,857			329,857			—			—			—			—		—

⁽¹⁾	Deposit balances reflect Premier migration impact of $11.2 billion and $39.3 billion for 2004 and 2005, respectively. Eliminating migration effect, average balance growth is 9.1%

⁽²⁾	Card Services presented on a held view

⁽³⁾	Trading balances are related to the impact of legacy MBNA foreign currency contracts and certain foreign denominated assets and liabilities

⁽⁴⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

nm	indicates non-meaningful data

Bank of America Corporation

Global Consumer and Small Business Banking: Deposits

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	2,370		$	2,213		$	2,086		$	2,011		$	8,680		$	1,978		$	1,921		$	1,840		$	1,742		$	7,481		16.0	%

Service charges		1,262			1,386			1,244			1,105			4,997			1,193			1,159			1,106			1,026			4,484		11.4
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		—			—			—			—			—			—			—			—			—			—		—
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		437			416			406			351			1,610			349			320			312			271			1,252		28.6
Trading account profits		—			—			—			—			—			—			—			—			—			—		—
Other income		(1	)		1			—			—			—			—			—			—			—			—		—

Total noninterest income		1,698			1,803			1,650			1,456			6,607			1,542			1,479			1,418			1,297			5,736		15.2

Total revenue		4,068			4,016			3,736			3,467			15,287			3,520			3,400			3,258			3,039			13,217		15.7

Provision for credit losses		48			38			19			(7	)		98			(63	)		65			57			3			62		58.1

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		2,070			2,033			2,069			1,931			8,103			1,920			1,919			1,942			2,061			7,842		3.3

Income before income taxes		1,950			1,945			1,648			1,543			7,086			1,663			1,416			1,259			975			5,313		33.4

Income tax expense		694			707			594			548			2,543			595			514			459			364			1,932		31.6

Net income ⁽¹⁾	$	1,256		$	1,238		$	1,054		$	995		$	4,543		$	1,068		$	902		$	800		$	611		$	3,381		34.4	%

Financial Ratios
Revenue Growth YTD		15.7	%		15.7	%		14.4	%		14.1	%		15.7	%

Expense Growth YTD		3.3			1.9			(0.1	)		(6.3	)		3.3

Operating Leverage YTD		12.3			13.8			14.5			20.4			12.3

Efficiency Ratio		50.88			50.63			55.37			55.70			53.01			54.55	%		56.44	%		59.60	%		67.83	%		59.33	%	(632	)bps
Average Balance Sheet
Total Deposits⁽²⁾	$	332,715		$	337,678		$	333,510		$	327,584		$	332,899		$	328,842		$	333,042		$	333,561		$	323,959		$	329,857		0.9	%

⁽¹⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

⁽²⁾	Deposit balances reflect Premier migration impact of $11.2 billion and $39.3 billion for 2004 and 2005, respectively. Eliminating migration effect, average balance growth is 9.1%

Bank of America Corporation

Global Consumer and Small Business Banking: Mortgage⁽¹⁾

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	171		$	194		$	188		$	192		$	745		$	237		$	250		$	292		$	305		$	1,084		(31.3	)%

Service charges		—			—			—			—			—			—			—			—			—			—		—
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		257			220			231			263			971			195			(207	)		334			235			557		74.2
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		—			—			—			—			—			—			—			(57	)		(292	)		(349	)	nm
Other income		7			5			5			4			21			6			5			—			9			20		8.2

Total noninterest income		264			225			236			267			992			201			(202	)		277			(48	)		228		335.1

Total revenue		435			419			424			459			1,737			438			48			569			257			1,312		32.4

Provision for credit losses		6			8			2			5			21			5			5			5			6			21		(1.1	)

Gains (losses) on sales of debt securities		—			—			—			—			—			—			117			—			—			117		nm

Total noninterest expense		277			253			256			276			1,062			366			304			356			290			1,316		(19.3	)

Income before income taxes		152			158			166			178			654			67			(144	)		208			(39	)		92		610.9

Income tax expense		55			57			60			63			235			24			(52	)		76			(15	)		33		616.6

Net income ⁽²⁾	$	97		$	101		$	106		$	115		$	419		$	43		$	(92	)	$	132		$	(24	)	$	59		615.1	%

Financial Ratios
Revenue Growth YTD		32.4	%		48.9	%		6.9	%		78.5	%		32.4	%

Expense Growth YTD		(19.3	)		(17.4	)		(17.7	)		(4.8	)		(19.3	)

Operating Leverage YTD		51.7			66.3			24.6			83.3			51.7

Efficiency Ratio		63.72			60.40			60.34			60.13			61.16			83.57	%		634.20	%		62.59	%		112.73	%		100.29	%	nm

Average Balance Sheet
Total Loans and Leases ⁽³⁾	$	28,731		$	28,815		$	29,567		$	30,943		$	29,506		$	32,684		$	34,828		$	36,128		$	36,587		$	35,049		(15.8	)%

⁽¹⁾	Majority of new mortgage originations are sold in the secondary market

⁽²⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

⁽³⁾	Loans and Leases primarily consists of a mortgage run-off portfolio

nm	indicates non-meaningful data

Bank of America Corporation

Global Consumer and Small Business Banking: Card Services (Held View)

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	2,148		$	2,125		$	1,936		$	1,863		$	8,072		$	1,810		$	1,686		$	1,601		$	1,554		$	6,651		21.4	%

Service charges		—			—			—			—			—			—			—			—			—			—		—
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		—			—			—			—			—			—			—			—			—			—		—
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		2,500			2,801			2,712			2,505			10,518			2,941			2,891			2,653			2,578			11,063		(4.9	)
Trading account profits ⁽¹⁾		3			(12	)		(14	)		(13	)		(36	)		(31	)		(18	)		(18	)		(19	)		(86	)	58.2
Other income		102			70			28			89			289			74			86			87			88			335		(13.7	)

Total noninterest income		2,605			2,859			2,726			2,581			10,771			2,984			2,959			2,722			2,647			11,312		(4.8	)

Total revenue		4,753			4,984			4,662			4,444			18,843			4,794			4,645			4,323			4,201			17,963		4.9

Provision for credit losses		1,485			1,290			1,288			1,000			5,063			1,525			1,156			802			907			4,390		15.3

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		2,616			2,349			2,405			2,358			9,728			2,321			2,317			2,243			2,325			9,206		5.7

Income before income taxes		652			1,345			969			1,086			4,052			948			1,172			1,278			969			4,367		(7.2	)

Income tax expense		231			490			349			384			1,454			338			426			467			365			1,596		(8.9	)

Net income ⁽²⁾	$	421		$	855		$	620		$	702		$	2,598		$	610		$	746		$	811		$	604		$	2,771		(6.3	)%

Financial Ratios
Revenue Growth YTD		4.9	%		7.0	%		6.8	%		5.8	%		4.9	%

Expense Growth YTD		5.7			3.3			4.3			1.4			5.7

Operating Leverage YTD		(0.8	)		3.7			2.6			4.4			(0.8	)

Efficiency Ratio		55.04			47.13			51.58			53.05			51.63			48.41	%		49.89	%		51.88	%		55.34	%		51.25	%	38	bps
Average Balance Sheet
Total Loans and Leases	$	92,886		$	89,757		$	82,794		$	82,903		$	87,120		$	81,704		$	77,743		$	73,362		$	76,097		$	77,240		12.8	%

⁽¹⁾	Trading balances are related to the impact of legacy MBNA foreign currency contracts and certain foreign denominated assets and liabilities

⁽²⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

Bank of America Corporation

Global Consumer and Small Business Banking: Card Services (Managed View)⁽¹⁾

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	3,897		$	4,015		$	4,023		$	3,971		$	15,906		$	4,079		$	3,969		$	3,910		$	3,846		$	15,804		0.6	%

Service charges		—			—			—			—			—			—			—			—			—			—		—
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		—			—			—			—			—			—			—			—			—			—		—
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		2,137			1,887			1,714			1,434			7,172			1,725			1,701			1,541			1,490			6,457		11.1
Trading account profits ⁽²⁾		3			(12	)		(14	)		(13	)		(36	)		(31	)		(18	)		(18	)		(19	)		(86	)	58.2
Other income		210			187			143			202			742			189			194			190			188			761		(2.5	)

Total noninterest income		2,350			2,062			1,843			1,623			7,878			1,883			1,877			1,713			1,659			7,132		10.5

Total revenue		6,247			6,077			5,866			5,594			23,784			5,962			5,846			5,623			5,505			22,936		3.7

Provision for credit losses		2,979			2,383			2,492			2,150			10,004			2,693			2,357			2,102			2,211			9,363		6.8

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		2,616			2,349			2,405			2,358			9,728			2,321			2,317			2,243			2,325			9,206		5.7

Income before income taxes		652			1,345			969			1,086			4,052			948			1,172			1,278			969			4,367		(7.2	)

Income tax expense		231			490			349			384			1,454			338			426			467			365			1,596		(8.9	)

Net income ⁽³⁾	$	421		$	855		$	620		$	702		$	2,598		$	610		$	746		$	811		$	604		$	2,771		(6.3	)%

Financial Ratios
Revenue Growth YTD		3.7	%		3.3	%		3.0	%		1.6	%		3.7	%

Expense Growth YTD		5.7			3.3			4.3			1.4			5.7

Operating Leverage YTD		(2.0	)		0.0			(1.3	)		0.2			(2.0	)

Efficiency Ratio		41.88			38.65			40.99			42.15			40.90			38.95	%		39.64	%		39.88	%		42.23	%		40.14	%	76	bps

Average Balance Sheet
Total Loans and Leases	$	184,670		$	179,275		$	174,687		$	176,305		$	178,759		$	176,548		$	174,473		$	170,998		$	172,137		$	173,549		3.0	%

⁽¹⁾	See page 66 for reconciliation of Card Services (Held View) to Card Services (Managed View)

⁽²⁾	Trading balances are related to the impact of legacy MBNA foreign currency contracts and certain foreign denominated assets and liabilities

⁽³⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

Bank of America Corporation

Global Consumer and Small Business Banking: Home Equity Line of Credit (HELOC)

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	333		$	333		$	321		$	304		$	1,291		$	306		$	304		$	304		$	250		$	1,164		10.8	%

Service charges		—			—			—			—			—			—			—			—			—			—		—
Investment and brokerage services		—			—			—			—			—			—			—			—			—			—		—
Mortgage banking income		17			21			20			19			77			20			19			21			16			76		1.0
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		—			—			—			—			—			—			—			—			—			—		—
Other income		—			—			—			—			—			1			—			—			—			1		nm

Total noninterest income		17			21			20			19			77			21			19			21			16			77		—

Total revenue		350			354			341			323			1,368			327			323			325			266			1,241		10.2

Provision for credit losses		10			10			10			8			38			9			9			8			7			33		16.8

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		146			159			161			182			648			210			202			199			167			778		(16.7	)

Income before income taxes		194			185			170			133			682			108			112			118			92			430		58.6

Income tax expense		70			67			61			47			245			39			41			43			34			157		56.2

Net income ⁽¹⁾	$	124		$	118		$	109		$	86		$	437		$	69		$	71		$	75		$	58		$	273		59.9	%

Financial Ratios
Revenue Growth YTD		10.2	%		11.3	%		12.3	%		21.4	%		10.2	%

Expense Growth YTD		(16.7	)		(11.7	)		(6.4	)		8.8			(16.7	)

Operating Leverage YTD		26.9			23.0			18.7			12.6			26.9

Efficiency Ratio		41.69			44.96			47.27			56.38			47.37			64.34	%		62.61	%		61.24	%		62.93	%		62.73	%	nm

Average Balance Sheet
Total Loans and Leases	$	51,166		$	49,652		$	47,507		$	45,215		$	48,405		$	43,857		$	41,942		$	39,234		$	38,094		$	40,794		18.7	%

⁽¹⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

nm	indicates non-meaningful data

Bank of America Corporation

Global Consumer and Small Business Banking: Other

($ in Millions)


	2005 Pro Forma															2004 Pro Forma														Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr		Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	32		$	10		$	31		$	41		$	114		$	54		$	47		$	22		$	85	$	208		(45.0	)%

Service charges		—			—			—			—			—			1			—			—			—		1		nm
Investment and brokerage services		—			—			—			—			—			—			—			—			—		—		—
Mortgage banking income		—			—			—			—			—			—			—			—			—		—		—
Investment banking income		—			—			(1	)		1			—			—			—			—			—		—		—
Equity investment gains		—			—			—			—			—			—			—			—			—		—		—
Card income		—			—			—			—			—			—			—			—			—		—		—
Trading account profits ⁽¹⁾		2			—			—			1			3			1			1			1			6		9		(68.9	)
Other income		91			73			62			57			283			57			54			53			55		219		29.1

Total noninterest income		93			73			61			59			286			59			55			54			61		229		24.9

Total revenue		125			83			92			100			400			113			102			76			146		437		(8.3	)

Provision for credit losses		46			41			26			5			118			42			68			44			28		182		(35.1	)

Gains (losses) on sales of debt securities		—			(1	)		—			(1	)		(2	)		2			—			(2	)		1		1		nm

Total noninterest expense		102			87			93			92			374			97			104			99			89		389		(3.9	)

Income before income taxes		(23	)		(46	)		(27	)		2			(94	)		(24	)		(70	)		(69	)		30		(133	)	29.3

Income tax expense		(9	)		(16	)		(9	)		1			(33	)		(11	)		(26	)		(26	)		11		(52	)	36.8

Net income ⁽²⁾	$	(14	)	$	(30	)	$	(18	)	$	1		$	(61	)	$	(13	)	$	(44	)	$	(43	)	$	19	$	(81	)	24.7	%

Financial Ratios
Revenue Growth YTD		(8.3	)%		(15.3	)%		(13.7	)%		(31.5	)%		(8.3	)%

Expense Growth YTD		(3.9	)		(6.9	)		(1.9	)		3.2			(3.9	)

Operating Leverage YTD		(4.5	)		(8.3	)		(11.8	)		(34.7	)		(4.5	)

Average Balance Sheet
Total Loans and Leases	$	11,548		$	11,648		$	11,778		$	11,558		$	11,633		$	10,769		$	10,418		$	10,670		$	9,827	$	10,422		11.6	%

⁽¹⁾	Trading balances are related to the impact of legacy MBNA foreign currency contracts and certain foreign denominated assets and liabilities

⁽²⁾	Product operating net income includes the full allocation of distribution channel costs, including banking center channel

nm	indicates non-meaningful data

Bank of America Corporation

Global Consumer and Small Business Banking: Deposits Key Indicators

($ in Millions)

2005 Pro Forma

2004 Pro Forma

Growth
05 vs 04

4th Qtr

3rd Qtr

2nd Qtr

1st Qtr

Full Year

4th Qtr

3rd Qtr

2nd Qtr

1st Qtr

Full Year

Deposits ⁽¹⁾

Average Deposit Balances

Checking

125,828

124,761

123,377

120,098

123,535

119,509

119,296

119,468

114,853

118,288

4.4

Savings

31,901

32,054

32,530

31,570

32,015

31,527

31,761

31,470

29,980

31,187

2.7

MMS

78,377

75,148

73,956

76,258

75,938

81,718

88,745

90,955

90,935

88,073

(13.8

)

CDs & IRA’s

85,544

93,794

92,811

90,095

90,557

86,349

83,976

80,829

79,603

82,703

9.5

Foreign & Other

11,065

11,922

10,837

9,563

10,854

9,739

9,263

10,839

8,588

9,606

13.0

Total

332,715

337,679

333,511

327,584

332,899

328,842

333,041

333,561

323,959

329,857

0.9

Average Cumulative Balances migrated to Premier Banking and Investments

44,692

41,672

38,257

32,407

39,304

23,879

12,426

6,509

1,860

11,200

Deposit Spreads (excludes noninterest costs)

Checking

4.16

4.17

4.14

4.24

4.18

4.27

4.12

3.82

3.88

4.03

bps

Savings

3.52

3.78

4.01

4.37

3.92

4.55

4.69

4.80

4.66

4.67

(76

)bps

MMS

2.50

1.89

1.54

1.34

1.83

1.10

0.70

0.33

0.26

0.58

124

bps

CDs & IRA’s

1.01

0.80

0.73

0.63

0.79

0.40

0.45

0.29

0.39

bps

Foreign & Other

3.58

3.02

2.93

2.80

3.09

2.67

4.75

7.56

9.93

6.16

(307

)bps

Total

2.86

2.63

2.54

2.52

2.64

2.42

2.32

2.25

2.19

2.30

bps

Net New Checking (units in 000’s) ⁽²⁾

426

635

629

611

2,301

601

529

518

415

2,063

11.5

Debit Purchase Volumes ⁽²⁾

39,623

36,008

35,049

31,230

141,910

31,930

28,353

27,675

25,262

113,220

25.3

Online Banking (End of Period) ⁽²⁾

Active Accounts (units in 000’s)

14,698

14,338

13,514

13,047

14,698

12,425

11,801

11,197

10,337

12,425

18.3

Active Billpay Accounts (units in 000’s)

7,281

6,987

6,529

6,256

7,281

5,794

4,818

4,452

3,659

5,794

25.7

⁽¹⁾	Deposit balances reflect Premier migration impact of $11.2 billion and $39.3 billion for 2004 and 2005, respectively. Eliminating migration effect, average balance growth is 9.1%

⁽²⁾	Legacy Bank of America results only

Bank of America Corporation

Global Consumer and Small Business Banking: Credit Key Indicators

2005 Pro Forma

2004 Pro Forma

Growth
05 vs 04

4th Qtr

3rd Qtr

2nd Qtr

1st Qtr

Full Year

4th Qtr

3rd Qtr

2nd Qtr

1st Qtr

Full Year

Managed Card - North American Only

Gross Interest Yield

11.66

11.93

12.02

11.71

11.83

11.09

10.64

10.65

10.06

10.61

122

bps

Risk Adjusted Margin ⁽¹⁾

5.63

9.03

8.60

8.28

7.86

9.45

8.85

8.45

8.01

8.67

(81

)bps

Loss Rates

7.48

4.98

5.48

5.34

5.84

5.09

4.96

5.34

5.23

5.14

bps

Average Outstandings (in millions)

144,839

140,293

136,433

138,376

140,004

139,350

139,520

137,955

140,257

139,324

0.5

New Account Growth (in thousands)

2,256

2,852

2,646

2,220

9,974

2,630

2,983

3,258

3,113

11,984

(16.8

Purchase Volumes (in millions)

57,105

53,590

51,371

45,754

207,820

52,574

49,208

47,026

42,193

191,001

8.8

Delinquencies

30 Day

3.98

4.63

4.47

4.61

n/a

4.55

4.52

4.26

4.41

n/a

60 Day

2.71

3.14

3.03

3.25

n/a

3.14

3.10

2.89

3.09

n/a

12 Month Lag Loss Rate

7.77

5.01

5.44

5.28

n/a

5.43

5.49

5.98

5.90

n/a

Mortgage ⁽²⁾

Mortgage Originations (in millions)

20,662

27,511

21,135

17,471

86,779

18,333

16,899

28,466

23,840

87,538

(0.9

Mortgage Servicing Rights

Period End Balance (in millions)

2,658

2,623

2,233

2,548

n/a

2,358

2,345

2,905

335

n/a

Capitalized Mortgage Servicing Rights (bps) (% of loans serviced)

122

124

108

128

n/a

119

122

154

114

n/a

Mortgage Loans Serviced for Investors (in billions)

218

212

207

199

n/a

198

193

189

184

n/a

Home Equity Originations (in millions)

19,670

17,897

19,379

15,033

71,979

16,171

16,792

17,262

10,843

61,068

17.9

⁽¹⁾	Reflects margin and noninterest revenue, adjusted for loss rates

⁽²⁾	Legacy Bank of America results only

Bank of America Corporation

Global Corporate and Investment Banking

($ in Millions)


	2005 Pro Forma																	2004 Pro Forma
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM		Other ⁽¹⁾			Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM		Other ⁽¹⁾
Income Statement
Net interest income	$	11,182		$	4,771		$	1,934		$	3,406		$	558	$	513		$	11,629		$	4,891		$	2,620		$	2,516		$	1,229	$	373

Service charges		2,618			470			111			1,868			—		169			2,752			462			103			2,026			—		161
Investment and brokerage services		1,046			17			875			27			—		127			918			20			765			37			—		96
Mortgage banking income		10			1			9			(1	)		—		1			20			6			14			(1	)		—		1
Investment banking income		1,892			—			1,901			—			—		(9	)		1,942			—			1,949			—			—		(7	)
Equity investment gains		247			157			86			—			—		4			112			112			—			—			—		—
Card income		685			—			—			625			—		60			541			(2	)		—			502			—		41
Trading account profits		1,770			(28	)		1,618			63			—		117			1,345			59			1,127			71			—		88
Other income		1,263			643			285			55			—		280			1,000			451			171			71			—		307

Total noninterest income		9,531			1,260			4,885			2,637			—		749			8,630			1,108			4,129			2,706			—		687

Total revenue		20,713			6,031			6,819			6,043			558		1,262			20,259			5,999			6,749			5,222			1,229		1,060

Provision for credit losses		(289	)		105			(30	)		(4	)		—		(360	)		(791	)		(597	)		(33	)		9			—		(170	)

Gains (losses) on sales of debt securities		263			62			55			—			—		146			(10	)		—			(10	)		—			—		—

Total noninterest expense		11,141			2,004			4,705			3,134			—		1,298			11,007			2,047			4,125			3,049			—		1,786

Income before income taxes		10,124			3,984			2,199			2,913			558		470			10,033			4,549			2,647			2,164			1,229		(556	)

Income tax expense		3,675			1,427			785			1,048			201		214			3,598			1,702			888			787			442		(221	)

Net income	$	6,449		$	2,557		$	1,414		$	1,865		$	357	$	256		$	6,435		$	2,847		$	1,759		$	1,377		$	787	$	(335	)

Financial Ratios
Revenue Growth		2.2	%		0.5	%		1.0	%		15.7	%		—		19.1	%

Expense Growth		1.2			(2.1	)		14.1			2.8			—		(27.3	)

Operating Leverage		1.0			2.6			(13.0	)		12.9			—		46.4

Efficiency Ratio		53.79			33.23			69.00			51.86			—		nm			54.33	%		34.12	%		61.12	%		58.39	%		—		nm
Average Balance Sheet
Total Loans and Leases	$	214,860		$	192,712		$	7,103		$	2,976		$	—	$	12,069		$	201,753		$	179,394		$	6,862		$	2,768		$	—	$	12,729

Total Deposits		189,904			352			26,735			149,997			—		12,820			177,555			286			21,355			144,129			—		11,786

Trading Related Assets		314,569			970			310,513			298			—		2,788			245,024			662			241,362			212			—		2,788

⁽¹⁾	Includes Latin America, Asia Commercial and Retail, Insurance Services, and segment level management accounting adjustments. It also includes certain non-recurring items

nm	indicates non-meaningful data

Bank of America Corporation

Global Corporate and Investment Banking: Business Lending

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	1,177		$	1,183		$	1,217		$	1,194		$	4,771		$	1,211		$	1,187		$	1,224		$	1,269		$	4,891		(2.5	)%

Service charges		119			123			117			111			470			124			131			78			129			462		1.7
Investment and brokerage services		4			5			4			4			17			6			4			5			5			20		(15.0	)
Mortgage banking income		—			—			1			—			1			(1	)		—			2			5			6		(83.3	)
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		11			47			10			89			157			28			25			20			39			112		40.2
Card income		—			—			—			—			—			—			(1	)		(1	)		—			(2	)	nm
Trading account profits		8			6			(43	)		1			(28	)		6			7			5			41			59		nm
Other income		86			132			187			238			643			94			66			118			173			451		42.6

Total noninterest income		228			313			276			443			1,260			257			232			227			392			1,108		13.7

Total revenue		1,405			1,496			1,493			1,637			6,031			1,468			1,419			1,451			1,661			5,999		0.5

Provision for credit losses		229			105			(203	)		(26	)		105			(354	)		(180	)		(95	)		32			(597	)	nm

Gains (losses) on sales of debt securities		—			2			39			21			62			—			—			—			—			—		—

Total noninterest expense		516			496			496			496			2,004			473			483			543			548			2,047		(2.1	)

Income before income taxes		660			897			1,239			1,188			3,984			1,349			1,116			1,003			1,081			4,549		(12.4	)

Income tax expense		236			328			450			413			1,427			503			388			382			429			1,702		(16.2	)

Net income	$	424		$	569		$	789		$	775		$	2,557		$	846		$	728		$	621		$	652		$	2,847		(10.2	)%

Financial Ratios
Revenue Growth YTD		0.5	%		2.1	%		0.6	%		(1.4	)%		0.5	%

Expense Growth YTD		(2.1	)		(5.5	)		(9.1	)		(9.5	)		(2.1	)

Operating Leverage YTD		2.6			7.6			9.7			8.0			2.6

Efficiency Ratio		36.72			33.16			33.22			30.30			33.23			32.22	%		34.04	%		37.42	%		32.99	%		34.12	%	(89	)bps

Average Balance Sheet
Total Loans and Leases	$	204,047		$	195,654		$	187,636		$	183,249		$	192,712		$	179,847		$	177,937		$	178,756		$	181,048		$	179,394		7.4	%

Total Deposits		369			376			360			301			352			286			321			278			258			286		23.1

Trading Related Assets		1,234			1,081			883			676			970			583			688			649			727			662		46.5

nm	indicates non-meaningful data

Bank of America Corporation

Global Corporate and Investment Banking: Capital Markets and Advisory Services

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	420		$	449		$	519		$	546		$	1,934		$	546		$	579		$	751		$	744		$	2,620		(26.2	)%

Service charges		30			34			25			22			111			24			27			27			25			103		7.8
Investment and brokerage services		223			217			226			209			875			199			170			189			207			765		14.4
Mortgage banking income		4			3			2			—			9			5			1			4			4			14		(35.7	)
Investment banking income		547			537			442			375			1,901			499			447			565			438			1,949		(2.5	)
Equity investment gains		16			24			2			44			86			(6	)		11			(6	)		1			—		—
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		256			517			229			616			1,618			284			175			383			285			1,127		43.6
Other income		60			79			94			52			285			56			32			56			27			171		66.7

Total noninterest income		1,136			1,411			1,020			1,318			4,885			1,061			863			1,218			987			4,129		18.3

Total revenue		1,556			1,860			1,539			1,864			6,819			1,607			1,442			1,969			1,731			6,749		1.0

Provision for credit losses		(14	)		(15	)		1			(2	)		(30	)		(44	)		(34	)		28			17			(33	)	9.1

Gains (losses) on sales of debt securities		32			3			12			8			55			1			1			(4	)		(8	)		(10	)	nm

Total noninterest expense		1,311			1,188			1,034			1,172			4,705			1,008			1,013			1,025			1,079			4,125		14.1

Income before income taxes		291			690			516			702			2,199			644			464			912			627			2,647		(16.9	)

Income tax expense		102			250			186			247			785			217			153			317			201			888		(11.6	)

Net income	$	189		$	440		$	330		$	455		$	1,414		$	427		$	311		$	595		$	426		$	1,759		(19.6	)%

Financial Ratios
Revenue Growth YTD		1.0	%		2.4	%		(8.0	)%		7.7	%		1.0	%

Expense Growth YTD		14.1			8.9			4.8			8.6			14.1

Operating Leverage YTD		(13.0	)		(6.5	)		(12.9	)		(0.9	)		(13.0	)

Efficiency Ratio		84.25			63.87			67.19			62.88			69.00			62.73	%		70.25	%		52.06	%		62.33	%		61.12	%	788	bps

Average Balance Sheet
Total Loans and Leases	$	9,097		$	5,303		$	5,845		$	8,175		$	7,103		$	6,374		$	7,065		$	7,543		$	6,468		$	6,862		3.5	%

Total Deposits		30,018			24,835			29,172			22,858			26,735			21,967			19,168			21,792			22,512			21,355		25.2

Trading Related Assets		313,198			324,607			328,611			275,063			310,513			264,664			233,265			239,372			227,979			241,362		28.7

nm	indicates non-meaningful data

Bank of America Corporation

Global Corporate and Investment Banking: Treasury Services

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	972		$	870		$	797		$	767		$	3,406		$	743		$	637		$	588		$	548		$	2,516		35.4	%

Service charges		448			471			473			476			1,868			490			519			511			506			2,026		(7.8	)
Investment and brokerage services		7			6			7			7			27			9			10			9			9			37		(27.0	)
Mortgage banking income		(1	)		—			—			—			(1	)		—			—			—			(1	)		(1	)	—
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		167			165			156			137			625			157			123			119			103			502		24.5
Trading account profits		10			12			20			21			63			19			19			15			18			71		(11.3	)
Other income		7			8			31			9			55			5			34			13			19			71		(22.5	)

Total noninterest income		638			662			687			650			2,637			680			705			667			654			2,706		(2.5	)

Total revenue		1,610			1,532			1,484			1,417			6,043			1,423			1,342			1,255			1,202			5,222		15.7

Provision for credit losses		1			1			—			(6	)		(4	)		6			(3	)		6			—			9		(144.4	)

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		780			782			794			778			3,134			780			727			800			742			3,049		2.8

Income before income taxes		829			749			690			645			2,913			637			618			449			460			2,164		34.6

Income tax expense		297			270			249			232			1,048			230			226			161			170			787		33.2

Net income	$	532		$	479		$	441		$	413		$	1,865		$	407		$	392		$	288		$	290		$	1,377		35.4	%

Financial Ratios
Revenue Growth YTD		15.7	%		16.7	%		18.1	%		17.9	%		15.7	%

Expense Growth YTD		2.8			3.7			1.9			4.9			2.8

Operating Leverage YTD		12.9			12.9			16.1			13.0			12.9

Efficiency Ratio		48.45			51.04			53.50			54.90			51.86			54.81	%		54.17	%		63.75	%		61.73	%		58.39	%	(653	)bps

Average Balance Sheet
Total Loans and Leases	$	2,835		$	2,753		$	2,990		$	3,322		$	2,976		$	3,165		$	2,804		$	2,626		$	2,475		$	2,768		7.5	%

Total Deposits		149,211			150,966			149,361			150,455			149,997			150,252			141,394			145,390			139,439			144,129		4.1

Trading Related Assets		309			268			281			337			298			240			160			238			210			212		40.6

Deposit Spread %		2.64	%		2.37	%		2.24	%		2.10	%		2.34	%		2.00	%		1.81	%		1.65	%		1.58	%		1.76	%

Bank of America Corporation

Global Corporate and Investment Banking: Other ⁽¹⁾

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	143		$	151		$	118		$	101		$	513		$	107		$	92		$	67		$	107		$	373		37.5	%

Service charges		46			42			41			40			169			45			40			38			38			161		5.0
Investment and brokerage services		37			38			26			26			127			23			23			25			25			96		32.3
Mortgage banking income		—			—			—			1			1			—			—			—			1			1		—
Investment banking income		—			(5	)		(1	)		(3	)		(9	)		(1	)		(1	)		(3	)		(2	)		(7	)	(28.6	)
Equity investment gains		1			2			—			1			4			2			1			(1	)		(2	)		—		nm
Card income		18			15			14			13			60			14			10			10			7			41		46.3
Trading account profits		32			37			26			22			117			24			32			28			4			88		33.0
Other income		73			46			59			102			280			117			27			52			111			307		(8.8	)

Total noninterest income		207			175			165			202			749			224			132			149			182			687		9.0

Total revenue		350			326			283			303			1,262			331			224			216			289			1,060		19.1

Provision for credit losses		(117	)		(79	)		(47	)		(117	)		(360	)		(94	)		(172	)		56			40			(170	)	(111.8	)

Gains (losses) on sales of debt securities		63			12			70			1			146			—			—			—			—			—		—

Total noninterest expense		356			388			288			266			1,298			351			217			750			468			1,786		(27.3	)

Income before income taxes		174			29			112			155			470			74			179			(590	)		(219	)		(556	)	nm

Income tax expense		60			14			43			97			214			46			57			(219	)		(105	)		(221	)	nm

Net income	$	114		$	15		$	69		$	58		$	256		$	28		$	122		$	(371	)	$	(114	)	$	(335	)	nm

Financial Ratios
Revenue Growth YTD		19.1	%		25.1	%		16.0	%		4.8	%		19.1	%

Expense Growth YTD		(27.3	)		(34.4	)		(54.5	)		(43.2	)		(27.3	)

Operating Leverage YTD		46.4			59.5			70.6			48.0			46.4

Average Balance Sheet
Total Loans and Leases	$	12,575		$	12,219		$	11,734		$	11,736		$	12,069		$	12,210		$	12,329		$	12,804		$	13,583		$	12,729		(5.2	)%

Total Deposits		13,209			12,768			12,627			12,671			12,820			12,349			11,615			11,593			11,582			11,786		8.8

Trading Related Assets		3,228			2,758			2,657			2,496			2,788			2,505			2,816			2,722			3,115			2,788		—

⁽¹⁾	Includes Latin America, Asia Commercial and Retail, Insurance Services, and segment level management accounting adjustments. It also includes certain non-recurring items

nm	indicates non-meaningful data

Bank of America Corporation

Global Corporate and Investment Banking: Capital Markets and Advisory Services Key Indicators

($ in Millions)


	2005 Pro Forma										2004 Pro Forma										Growth 05 vs 04
	4th Qtr		3rd Qtr		2nd Qtr		1st Qtr		Full Year		4th Qtr		3rd Qtr		2nd Qtr		1st Qtr		Full Year		Growth 05 vs 04
Investment Banking
Advisory Fees	$	73	$	89	$	74	$	60	$	296	$	104	$	78	$	66	$	91	$	339	(12.7	)%
Debt Underwriting		390		354		311		277		1,332		312		315		406		274		1,307	1.9
Equity Underwriting		84		94		57		38		273		83		54		93		73		303	(9.9	)

Total Investment Banking		547		537		442		375		1,901		499		447		565		438		1,949	(2.5	)

Sales and Trading
Fixed Income
Liquid Products		470		471		497		505		1,943		428		375		517		446		1,766	10.0
Credit Products		71		226		81		256		634		97		130		259		289		775	(18.2	)
Structured Products		238		267		231		266		1,002		260		237		292		304		1,093	(8.3	)

Total Fixed Income		779		964		809		1,027		3,579		785		742		1,068		1,039		3,634	(1.5	)

Equity Income		262		362		300		470		1,394		324		254		332		246		1,156	20.6

Total Sales and Trading		1,041		1,326		1,109		1,497		4,973		1,109		996		1,400		1,285		4,790	3.8

Total Capital Markets and Advisory Services Revenue⁽¹⁾	$	1,588	$	1,863	$	1,551	$	1,872	$	6,874	$	1,608	$	1,443	$	1,965	$	1,723	$	6,739	2.0	%

___________
⁽¹⁾Includes Gains (losses) on the Sales of Securities

Balance Sheet (Average)
Trading Account Securities	$	136,058	$	138,874	$	131,831	$	115,103	$	130,547	$	108,110	$	95,949	$	101,593	$	103,248	$	102,224	27.7	%
Reverse Repurchases		75,230		78,919		77,080		59,562		72,757		66,084		53,939		44,999		45,906		52,772	37.9
Securities Borrowed		79,993		85,377		97,597		77,454		85,113		68,853		61,383		67,056		52,530		62,470	36.2
Derivative Assets		21,917		21,437		22,103		22,944		22,096		21,617		21,994		25,724		26,295		23,896	(7.5	)

Trading Related Assets	$	313,198	$	324,607	$	328,611	$	275,063	$	310,513	$	264,664	$	233,265	$	239,372	$	227,979	$	241,362	28.7	%


Sales Credits from Secondary Trading
Liquid Products		197		192		223		202		814		171		179		186		169		705	15.5	%
Credit Products		160		152		177		168		657		146		142		157		120		565	16.1
Structured Products		128		167		139		131		565		110		99		83		67		359	57.3
Equities		211		201		215		198		825		179		160		181		188		708	16.6

Total		696		712		754		699		2,861		606		580		607		544		2,337	22.4	%

Volatility of Product Revenues - 1 Std Dev
Liquid Products	$	7.0	$	11.1	$	8.7	$	10.0	$	9.4	$	7.0	$	8.3	$	12.9	$	8.1	$	9.4	0.4	%
Credit Products		4.1		3.7		13.2		4.3		7.8		4.5		4.4		4.7		9.5		6.3	23.9
Structured Products		6.8		8.1		4.9		6.9		6.8		4.7		5.7		6.9		12.4		8.1	(15.3	)
Equities		1.3		6.0		2.4		2.0		3.5		1.6		3.7		5.1		11.0		6.4	(45.3	)

Total	$	12.2	$	16.0	$	17.6	$	15.6	$	15.8	$	10.7	$	12.9	$	17.6	$	14.8	$	14.4	9.9	%

Bank of America Corporation

Global Corporate and Investment Banking: Business Lending Key Indicators

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Business Lending Revenue: ⁽¹⁾
Corporate Lending⁽²⁾	$	387		$	486		$	635		$	615		$	2,123		$	539		$	506		$	540		$	566		$	2,151		(1.3	)%
Commercial Lending		829			828			732			889			3,278			770			755			758			942			3,225		1.6
Consumer Indirect Lending		189			184			165			154			692			159			158			153			153			623		11.1

Total Revenue	$	1,405		$	1,498		$	1,532		$	1,658		$	6,093		$	1,468		$	1,419		$	1,451		$	1,661		$	5,999		1.6	%

Business Lending Margin:
Corporate Lending		1.43	%		1.63	%		1.74	%		1.87	%		1.66	%		2.14	%		2.35	%		2.56	%		2.75	%		2.47	%	(32.8	)%
Commercial Lending		1.71	%		1.74	%		1.87	%		1.84	%		1.79	%		1.80	%		1.77	%		1.88	%		1.75	%		1.80	%	(0.6	)%
Consumer Indirect Lending		2.03	%		2.12	%		2.22	%		2.30	%		2.16	%		2.47	%		2.51	%		2.50	%		2.60	%		2.52	%	(14.3	)%

Provision:
Corporate Lending	$	13		$	(50	)	$	(58	)	$	(123	)	$	(218	)	$	(169	)	$	(136	)	$	60		$	(93	)	$	(338	)	35.5	%
Commercial Lending		128			79			(182	)		31			56			(244	)		(95	)		(179	)		88			(430	)	113.0
Consumer Indirect Lending		88			76			37			66			267			59			51			24			37			171		56.1

Total Provision	$	229		$	105		$	(203	)	$	(26	)	$	105		$	(354	)	$	(180	)	$	(95	)	$	32		$	(597	)	117.6	%

Credit Quality (% vs loans):^(3),(4)
Criticized Assets
Corporate Lending	$	1,620 2.03	%	$	1,792 2.28	%	$	2,003 2.53	%	$	2,317 2.91	%	$	1,620 2.03	%	$	3,017 3.72	%	$	3,793 4.94	%	$	4,122 5.53	%	$	5,784 6.83	%	$	3,017 3.72	%	(46.3 (45.4	)% )%
Commercial Lending	$	4,633 2.82	%	$	4,647 2.92	%	$	4,678 3.00	%	$	5,102 3.37	%	$	4,633 2.82	%	$	5,548 3.72	%	$	6,417 4.39	%	$	7,158 4.92	%	$	9,013 6.13	%	$	5,548 3.72	%	(16.5 (24.2	) )

Total	$	6,253 2.57	%	$	6,439 2.71	%	$	6,681 2.84	%	$	7,419 3.21	%	$	6,253 2.57	%	$	8,565 3.72	%	$	10,210 4.58	%	$	11,280 5.13	%	$	14,797 6.39	%	$	8,565 3.72	%	(27.0 (30.9	)% )%
Non Performing Assets
Corporate Lending	$	183 0.10	%	$	231 0.14	%	$	284 0.18	%	$	397 0.25	%	$	183 0.10	%	$	427 0.27	%	$	560 0.35	%	$	685 0.41	%	$	845 0.47	%	$	427 0.27	%	(57.1 (63.0	)% )%
Commercial Lending	$	430 0.06	%	$	470 0.07	%	$	676 0.11	%	$	694 0.11	%	$	430 0.06	%	$	709 0.12	%	$	837 0.14	%	$	905 0.15	%	$	854 0.14	%	$	709 0.12	%	(39.4 (50.0	) )

Total	$	613 0.07	%	$	701 0.09	%	$	960 0.12	%	$	1,091 0.14	%	$	613 0.07	%	$	1,136 0.15	%	$	1,397 0.18	%	$	1,590 0.21	%	$	1,699 0.22	%	$	1,136 0.15	%	(46.0 (53.3	)% )%

Average Loans and Leases By Product:
Commercial	$	104,890		$	99,794		$	97,275		$	94,939		$	99,253		$	93,876		$	93,626		$	96,166		$	97,523		$	95,289		4.2	%
Leases		19,792			20,089			20,226			20,592			20,172			20,099			20,063			20,074			21,687			20,479		(1.5	)
Foreign		10,473			9,384			9,023			8,680			9,395			9,264			8,705			8,085			8,985			8,761		7.2
Real Estate		34,209			32,883			31,944			31,415			32,621			29,735			29,450			29,054			28,330			29,145		11.9
Consumer		32,338			31,103			26,698			25,133			28,844			24,417			23,668			22,983			22,171			23,314		23.7
Other		2,345			2,401			2,470			2,490			2,427			2,456			2,425			2,394			2,352			2,406		0.9

Total Average Loans and Leases	$	204,047		$	195,654		$	187,636		$	183,249		$	192,712		$	179,847		$	177,937		$	178,756		$	181,048		$	179,394		7.4	%

__________
⁽¹⁾Includes Gains (losses) on the Sales of Securities.

⁽²⁾Total Corporate Lending Revenue	$	387		$	486		$	635		$	615		$	2,123		$	539		$	506		$	540		$	566		$	2,151
LESS: Impact of credit mitigation		(36	)		(18	)		96			138			180			(36	)		(65	)		(1	)		(18	)		(120	)

Corporate Lending revenues excluding credit mitigation	$	423		$	504		$	539		$	477		$	1,943		$	575		$	571		$	541		$	584		$	2,271

⁽³⁾

Criticized assets correspond to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The criticized assets are on an end of period basis and are also shown as a percentage of total commercial utilized exposure, including loans and leases, SBLCs and financial guarantees, derivative assets, assets held-for-sale and commercial letters of credit.

⁽⁴⁾	Nonperforming Assets are on an end of period basis and defined as nonperforming loans and leases PLUS foreclosed property. The Nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed property

Bank of America Corporation

Global Corporate and Investment Banking: Client Relationship View

($ in Millions)


	2005 Pro Forma																	2004 Pro Forma
	Total			Commercial Issuer			Corporate Issuer			Institutional Investor			ALM		Other			Total			Commercial Issuer			Corporate Issuer			Institutional Investor			ALM		Other
Income Statement
Net interest income	$	11,182		$	6,281		$	1,917		$	1,913		$	558	$	513		$	11,629		$	5,434		$	2,002		$	2,591		$	1,229	$	373

Service charges		2,618			1,121			1,217			111			—		169			2,752			1,161			1,327			103			—		161
Investment and brokerage services		1,046			32			11			876			—		127			918			45			22			755			—		96
Mortgage banking income		10			2			(2	)		9			—		1			20			8			1			10			—		1
Investment banking income		1,892			45			329			1,527			—		(9	)		1,942			197			248			1,504			—		(7	)
Equity investment gains		247			65			105			73			—		4			112			51			55			6			—		—
Card income		685			278			347			—			—		60			541			246			253			1			—		41
Trading account profits		1,770			34			1			1,618			—		117			1,345			54			77			1,126			—		88
Other income		1,263			894			704			(623	)		—		288			1,000			729			572			(619	)		—		318

Total noninterest income		9,531			2,471			2,712			3,591			—		757			8,630			2,491			2,555			2,886			—		698

Total revenue		20,713			8,752			4,629			5,504			558		1,270			20,259			7,925			4,557			5,477			1,229		1,071

Provision for credit losses		(289	)		323			(223	)		(29	)		—		(360	)		(791	)		(259	)		(330	)		(32	)		—		(170	)

Gains (losses) on sales of debt securities		263			—			62			55			—		146			(10	)		—			—			(10	)		—		—

Total noninterest expense		11,141			2,990			2,981			3,872			—		1,298			11,007			3,060			2,823			3,338			—		1,786

Income before income taxes		10,124			5,439			1,933			1,716			558		478			10,033			5,124			2,064			2,161			1,229		(545	)

Income tax expense		3,675			1,958			696			618			201		202			3,598			1,845			743			778			442		(210	)

Net income	$	6,449		$	3,481		$	1,237		$	1,098		$	357	$	276		$	6,435		$	3,279		$	1,321		$	1,383		$	787	$	(335	)

Financial Ratios
Revenue Growth		2.2	%		10.4	%		1.6	%		0.5	%		—		18.8	%

Expense Growth		1.2			(2.3	)		5.6			16.0			—		(27.2	)

Operating Leverage		1.0			12.7			(4.0	)		(15.5	)		—		46.0

Efficiency Ratio		53.79			34.16			64.40			70.35			—		nm			54.32	%		38.61	%		61.95	%		60.95	%		—		nm

Average Balance Sheet
Total Loans and Leases	$	214,860		$	160,038		$	35,651		$	7,102			—	$	12,069		$	201,753		$	145,710		$	36,456		$	6,858			—	$	12,729

Total Deposits		189,904			89,991			60,358			26,735			—		12,820			177,555			87,724			56,691			21,355			—		11,785

Trading Related Assets		314,569			319			950			310,513			—		2,787			245,024			384			489			241,362			—		2,789

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management

($ in Millions)


	2005 Pro Forma																	2004 Pro Forma
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM		Other ⁽¹⁾			Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM		Other ⁽¹⁾
Income Statement
Net interest income	$	3,868		$	991		$	12		$	1,733		$	486	$	646		$	3,216		$	904		$	67		$	1,210		$	855	$	180

Service charges		89			25			—			62			—		2			84			28			—			54			—		2
Investment and brokerage services		3,140			1,033			1,301			670			—		136			3,128			1,020			1,264			713			—		131
Mortgage banking income		43			—			—			43			—		—			58			(3	)		—			61			—		—
Investment banking income		5			5			—			—			—		—			22			10			—			8			—		4
Equity investment gains		—			—			—			—			—		—			6			1			4			—			—		1
Card income		—			—			—			—			—		—			—			—			—			—			—		—
Trading account profits		96			—			4			—			—		92			128			2			—			29			—		97
Other income		123			38			28			43			—		14			100			30			9			38			—		23

Total noninterest income		3,496			1,101			1,333			818			—		244			3,526			1,088			1,277			903			—		258

Total revenue		7,364			2,092			1,345			2,551			486		890			6,742			1,992			1,344			2,113			855		438

Provision for credit losses		(7	)		(23	)		—			18			—		(2	)		(19	)		(7	)		—			(12	)		—		—

Gains (losses) on sales of debt securities		—			—			—			—			—		—			—			—			—			—			—		—

Total noninterest expense		3,704			1,216			904			1,256			—		328			4,028			1,334			878			1,251			—		565

Income before income taxes		3,667			899			441			1,277			486		564			2,733			665			466			874			855		(127	)

Income tax expense		1,318			323			158			454			180		203			1,030			234			180			314			316		(14	)

Net income	$	2,349		$	576		$	283		$	823		$	306	$	361		$	1,703		$	431		$	286		$	560		$	539	$	(113	)

Financial Ratios
Revenue Growth		9.2	%		5.0	%		0.1	%		20.7	%		—		103.0	%

Expense Growth		(8.0	)		(8.8	)		2.9			0.4			—		(41.9	)

Operating Leverage		17.3			13.8			(2.8	)		20.4			—		145.0

Efficiency Ratio		50.30			58.11			67.20			49.23			—		nm			59.75	%		66.96	%		65.35	%		59.22	%		—		nm

Average Balance Sheet
Total Loans and Leases	$	54,103		$	29,918		$	—		$	24,072		$	—	$	113		$	45,388		$	28,829		$	—		$	15,366		$	—	$	1,193

Total Deposits		117,338			22,888			100			52,681			—		41,669			86,244			23,023			110			49,246			—		13,865

⁽¹⁾	Global Wealth and Investment Management Other balances reflect Premier migration impact of $11.2 billion and $39.3 billion for 2004 and 2005, respectively.

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management: Private Bank

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	254		$	248		$	247		$	242		$	991		$	232		$	235		$	225		$	212		$	904		9.6	%

Service charges		6			6			6			7			25			6			7			7			8			28		(11.0	)
Investment and brokerage services		252			252			273			256			1,033			256			255			243			266			1,020		1.3
Mortgage banking income		1			—			1			(2	)		—			—			(1	)		(1	)		(1	)		(3	)	nm
Investment banking income		2			1			1			1			5			2			1			3			4			10		(51.2	)
Equity investment gains		—			—			—			—			—			—			—			1			—			1		nm
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		—			(1	)		—			1			—			1			—			—			1			2		nm
Other income		12			8			10			8			38			3			7			11			9			30		27.7

Total noninterest income		273			266			291			271			1,101			268			269			264			287			1,088		1.2

Total revenue		527			514			538			513			2,092			500			504			489			499			1,992		5.0

Provision for credit losses		(3	)		(5	)		(13	)		(2	)		(23	)		(9	)		(19	)		12			9			(7	)	(237.8	)

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		315			296			300			305			1,216			357			313			338			326			1,334		(8.8	)

Income before income taxes		215			223			251			210			899			152			210			139			164			665		35.2

Income tax expense		77			81			90			75			323			50			76			48			60			234		38.3

Net income	$	138		$	142		$	161		$	135		$	576		$	102		$	134		$	91		$	104		$	431		33.8	%

Financial Ratios
Revenue Growth YTD		5.0	%		4.9	%		6.4	%		2.8	%		5.0	%

Expense Growth YTD		(8.8	)		(7.8	)		(8.9	)		(6.6	)		(8.8	)

Operating Leverage YTD		13.8			12.8			15.4			9.4			13.8

Efficiency Ratio		59.77			57.53			55.71			59.41			58.11			71.44	%		62.07	%		69.08	%		65.38	%		66.96	%	(883	)bps

Average Balance Sheet
Total Loans and Leases	$	30,412		$	30,091		$	29,588		$	29,572		$	29,918		$	29,505		$	29,140		$	28,538		$	28,124		$	28,829		3.8	%

Total Deposits		18,508			20,698			25,600			26,863			22,888			26,508			25,083			21,398			19,041			23,023		(0.6	)%

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management: Columbia Management

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	—		$	(1	)	$	7		$	6		$	12		$	9		$	8		$	6		$	44	⁽¹⁾	$	67		(81.8	)%

Service charges		—			—			—			—			—			—			—			—			—			—		—
Investment and brokerage services		335			330			321			315			1,301			319			311			302			332			1,264		3.0
Mortgage banking income		—			—			—			—			—			—			—			—			—			—		—
Investment banking income		—			—			—			—			—			—			—			—			—			—		—
Equity investment gains		—			—			—			—			—			—			1						3			4		nm
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		—			—			(1	)		5			4			—			—			—			—			—		—
Other income		11			10			1			6			28			2			1			2			4			9		208.2

Total noninterest income		346			340			321			326			1,333			321			313			304			339			1,277		4.4

Total revenue		346			339			328			332			1,345			330			321			310			383			1,344		0.1

Provision for credit losses		—			—			—			—			—			—			—			—			—			—		—

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		235			222			226			221			904			225			206			217			230			878		2.9

Income before income taxes		111			117			102			111			441			105			115			93			153			466		(5.3	)

Income tax expense		39			43			37			39			158			41			42			33			64			180		(12.1	)

Net income	$	72		$	74		$	65		$	72		$	283		$	64		$	73		$	60		$	89		$	286		(0.9	)%

Financial Ratios
Revenue Growth YTD		0.1	%		(1.5	)%		(4.7	)%		(13.3	)%		0.1	%

Expense Growth YTD		2.9			2.4			—			(4.1	)		2.9

Operating Leverage YTD		(2.8	)		(3.9	)		(4.7	)		(9.3	)		(2.8	)

Efficiency Ratio		67.92			65.44			68.81			66.54			67.20			68.19	%		64.15	%		69.92	%		60.13	%		65.35	%	185	bps

Average Balance Sheet
Total Deposits	$	90		$	109		$	100		$	100		$	100		$	106		$	101		$	120		$	114		$	110		(9.1	)%

⁽¹⁾	Net Interest Income in the first quarter 2004 includes one time interest recoveries and other adjustments of $36 million

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management: Premier Banking and Investments

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	502		$	443		$	411		$	377		$	1,733		$	342		$	307		$	287		$	274		$	1,210		43.3	%

Service charges		16			17			15			14			62			14			14			13			13			54		14.8
Investment and brokerage services		167			176			163			164			670			168			166			187			192			713		(5.9	)
Mortgage banking income		6			14			12			11			43			12			11			18			20			61		(29.3	)
Investment banking income		—			—			—			—			—			—			4			2			2			8		nm
Equity investment gains		—			—			—			—			—			—			—			—			—			—		—
Card income		—			—			—			—			—			—			—			—			—			—		—
Trading account profits		—			—			—			—			—			1			6			8			14			29		nm
Other income		15			9			10			9			43			11			8			9			10			38		13.2

Total noninterest income		204			216			200			198			818			206			209			237			251			903		(9.4	)

Total revenue		706			659			611			575			2,551			548			516			524			525			2,113		20.7

Provision for credit losses		4			6			4			4			18			3			1			(1	)		(15	)		(12	)	nm

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—			—			—			—		—

Total noninterest expense		307			328			307			314			1,256			299			316			309			327			1,251		0.4

Income before income taxes		395			325			300			257			1,277			246			199			216			213			874		46.1

Income tax expense		140			119			108			87			454			86			74			80			74			314		44.8

Net income	$	255		$	206		$	192		$	170		$	823		$	160		$	125		$	136		$	139		$	560		47.1	%

Financial Ratios
Revenue Growth YTD		20.7	%		17.9	%		13.0	%		9.3	%		20.7	%

Expense Growth YTD		0.4			(0.2	)		(2.3	)		(4.0	)		0.4

Operating Leverage YTD		20.4			18.1			15.3			13.3			20.4

Efficiency Ratio		43.50			49.76			50.29			54.66			49.23			54.54	%		61.25	%		58.96	%		62.23	%		59.22	%	(999	)bps

Average Balance Sheet
Total Loans and Leases	$	26,656		$	25,056		$	23,352		$	21,154		$	24,072		$	18,028		$	15,197		$	14,200		$	14,013		$	15,366		56.7	%

Total Deposits		49,289			53,355			54,035			54,119			52,681			51,301			49,593			48,344			47,694			49,246		7.0

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management: Other

($ in Millions)


	2005 Pro Forma															2004 Pro Forma														Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr		2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Income Statement
Net interest income	$	201		$	172		$	149		$	124		$	646		$	100		$	52	$	26		$	2		$	180		258.9	%

Service charges		2			—			—			—			2			2			—		—			—			2		—
Investment and brokerage services		37			35			31			33			136			30			33		39			29			131		3.7
Mortgage banking income		—			—			—			—			—			—			—		—			—			—		—
Investment banking income		—			—			—			—			—			2			1		—			1			4		nm
Equity investment gains		—			—			—			—			—			1			—		—			—			1		nm
Card income		—			—			—			—			—			—			—		—			—			—		—
Trading account profits		25			21			20			26			92			23			17		26			31			97		(5.2	)
Other income		4			4			2			4			14			(3	)		12		4			10			23		(39.1	)

Total noninterest income		68			60			53			63			244			55			63		69			71			258		(5.3	)

Total revenue		269			232			202			187			890			155			115		95			73			438		103.0

Provision for credit losses		—			(2	)		—			—			(2	)		—			2		(2	)		—			—		nm

Gains (losses) on sales of debt securities		—			—			—			—			—			—			—		—			—			—		—

Total noninterest expense		91			76			93			68			328			56			52		53			404			565		(41.9	)

Income before income taxes		178			158			109			119			564			99			61		44			(331	)		(127	)	544.1

Income tax expense		64			58			39			42			203			39			20		16			(89	)		(14	)	nm

Net income	$	114		$	100		$	70		$	77		$	361		$	60		$	41	$	28		$	(242	)	$	(113	)	(419.5	)%

Financial Ratios
Revenue Growth YTD		103.0	%		119.1	%		131.0	%		156.0	%		103.0	%

Expense Growth YTD		(41.9	)		(53.3	)		(64.7	)		(83.1	)		(41.9	)

Operating Leverage YTD		145.0			172.4			195.7			239.2			145.0

Average Balance Sheet
Total Loans and Leases	$	120		$	113		$	110		$	110		$	113		$	497		$	1,396	$	1,460		$	1,424		$	1,193		(90.5	)%

Total Deposits ⁽¹⁾		46,972			43,974			40,520			35,026			41,669			26,544			15,119		9,227			4,446			13,865		200.5

⁽¹⁾	Global Wealth and Investment Management Other balances reflect Premier migration impact of $11.2 billion and $39.3 billion for 2004 and 2005, respectively.

nm	indicates non-meaningful data

Bank of America Corporation

Global Wealth and Investment Management: Key Indicators

($ in Millions)


	2005 Pro Forma															2004 Pro Forma										Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr		3rd Qtr		2nd Qtr		1st Qtr		Full Year		Growth 05 vs 04
Private Bank
Recurring Asset Management Fees	$	247		$	247		$	269		$	250		$	1,013		$	249	$	248	$	234	$	255	$	986	2.6	%
Brokerage Commissions		5			5			4			6			20			7		7		9		11		34	(37.2	)

Total Investment and Brokerage Services Income	$	252		$	252		$	273		$	256		$	1,033		$	256	$	255	$	243	$	266	$	1,020	1.3	%

Assets Under Management	$	164,032		$	165,058		$	162,927		$	164,586		$	164,032

Columbia Management
Recurring Asset Management Fees	$	335		$	330		$	321		$	315		$	1,301		$	319	$	311	$	302	$	332	$	1,264	3.0	%
Brokerage Commissions		—			—			—			—			—			—		—		—		—		—	—

Total Investment and Brokerage Services Income	$	335		$	330		$	321		$	315		$	1,301		$	319	$	311	$	302	$	332	$	1,264	3.0	%

Assets Under Management	$	361,179		$	332,363		$	320,474		$	316,133		$	361,179

Premier Banking and Investments
Recurring Asset Management Fees	$	37		$	33		$	30		$	26		$	126		$	22	$	18	$	17	$	13	$	70	78.0	%
Brokerage Commissions		130			143			133			138			544			146		148		170		179		643	(15.1	)

Total Investment and Brokerage Services Income	$	167		$	176		$	163		$	164		$	670		$	168	$	166	$	187	$	192	$	713	(5.9	)%

Assets Under Management	$	13,723		$	12,554		$	10,854		$	9,735		$	13,723
Number of Client Managers		2,104			2,032			1,968			1,906			2,104			1,809		1,695		1,306		1,236		1,809	16.3	%
Number of Financial Advisors		1,895			1,925			1,969			2,072			1,895			2,134		2,171		2,180		2,139		2,134	(11.2	)

Total Premier Banking and Investment Client Advisors		3,999			3,957			3,937			3,978			3,999			3,943		3,866		3,486		3,375		3,943	1.4	%

Brokerage Revenue per Financial Advisor (in thousands)	$	69		$	75		$	68		$	67		$	288		$	68	$	68	$	78	$	84	$	301	(4.4	)%

All Other
Recurring Asset Management Fees		29			26			23			24			102			18		17		22		10		67	51.4
Brokerage Commissions		8			9			8			9			34			12		16		17		19		64	(47.2	)

Total Investment and Brokerage Services Income	$	37		$	35		$	31		$	33		$	136		$	30	$	33	$	39	$	29	$	131	3.2	%

Assets Under Management Elimination	$	(56,540	)	$	(52,577	)	$	(51,464	)	$	(57,058	)	$	(56,540	)

Total Global Wealth and Investment Management
Recurring Asset Management Fees		648			636			643			615			2,542			608		594		575		610		2,387	6.4
Brokerage Commissions		143			157			145			153			598			165		171		196		209		741	(18.9	)

Total Investment and Brokerage Services Income	$	791		$	793		$	788		$	768		$	3,140		$	773	$	765	$	771	$	819	$	3,128	0.4	%

Assets Under Management	$	482,394		$	457,398		$	442,791		$	433,396		$	482,394

($ in Billions)

Assets Under Management Rollforward
Beginning Balance	$	457		$	442		$	433		$	451		$	451
Net Flows		23			8			1			(8	)		24
Market Valuation / Other		2			7			8			(10	)		7

Ending Balance	$	482		$	457		$	442		$	433		$	482

Assets Under Management Mix
Money Market / Other	$	185		$	162		$	151		$	154		$	185
Fixed Income		83			85			92			89			83
Equity		214			210			199			190			214

Total Assets Under Management	$	482		$	457		$	442		$	433		$	482

% of Assets Under Management in 4 and 5 Star Funds ⁽¹⁾		56	%		53	%		52	%		52	%
% of Assets Under Management in 1st and 2nd Quartiles ⁽²⁾		78	%		77	%		68	%		72	%

Client Brokerage Assets
Total Brokerage Assets	$	162		$	156		$	151		$	151		$	162


Bank of America Corporation Global Wealth and Investment Management: Key Indicators

⁽¹⁾		Please consider the objectives, risks, charges and expenses of any Columbia fund carefully before investing. Contact your financial advisor for a prospectus, which contains this and other important information about the fund. You should read it carefully before investing.

		©2006 by Morningstar, Inc. All rights reserved. The information contained herein is the proprietary information of Morningstar, Inc., may not be copied or redistributed for any purpose and may only be used for noncommercial, personal purposes. The information contained herein is not represented or warranted to be accurate, correct, complete or timely. Morningstar, Inc. shall not be responsible for investment decisions, damages or other losses resulting from the use of this information. Past performance is no guarantee of future performance. Morningstar, Inc. has not granted consent for it to be considered or deemed an “expert” under the Securities Act of 1933.

⁽²⁾		Results shown are defined by Columbia Management’s calculation of its percentage of assets under management in the top two quartiles of categories based on Morningstar (Equity categories, Lipper ( Fixed Income categories) (iMoneyNet Money Market funds). The category percentile rank was calculated by ranking the three year gross return of share classes within the categories stated above . The assets of the number of funds within the top 2 quartile results include both were added and then divided by Columbia Managements total assets under management. Had fees been included, rankings would have been lower. Past performance is no guarantee of future results.

Bank of America Corporation

Key Indicators

($ in Millions)


	2005 Pro Forma															2004 Pro Forma															Growth 05 vs 04
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			Full Year			Growth 05 vs 04
Equity Balances
Private Equity ( Ending Balance)	$	6,136		$	6,076		$	6,427		$	6,571		$	6,136		$	6,959		$	7,196		$	7,434		$	7,673		$	6,959		(11.8	)%
Public Equity (Ending Balance)		326			338			326			394			326			291			242			261			331			291		11.7	%

Total Equity Balances ⁽¹⁾	$	6,462		$	6,414		$	6,753		$	6,965		$	6,462		$	7,250		$	7,438		$	7,695		$	8,004		$	7,250		(10.9	)%

Average Liquidity Balances ⁽²⁾
Net liquid assets - bank level ($ in billions) ⁽³⁾	$	266		$	262		$	274		$	273			n/a		$	266		$	267		$	261		$	219			n/a
Time to Required funding - parent company (in months)		29			31			26			26			n/a			29			28			28			30			n/a

Share Data ⁽²⁾
Average Shares Outstanding		4,012			4,016			4,021			4,046			4,024			4,044			4,063			4,073			2,889			3,768		6.8	%
Ending Shares Outstanding		4,000			4,013			4,017			4,035			4,000			4,047			4,049			4,063			2,891			4,047		(1.2	)%

Capital Ratios ⁽²⁾
Tier 1 Capital Ratio		8.25	%		8.27	%		8.16	%		8.26	%		8.25	%		8.20	%		8.18	%		8.26	%		7.89	%		8.20	%	5	bps
Total Capital Ratio		11.08			11.19			11.23			11.52			11.08			11.73			11.81			12.02			11.62			11.73		65	bps

Global Consumer and Small Business Banking (Held)
Allowance for Loan and Lease Loss (Ending Balance)	$	4,299		$	4,684		$	4,430		$	4,235		$	4,299		$	4,678		$	4,234		$	3,891		$	4,545		$	4,678		(8.1	)%
Outstanding Loans and Leases (Ending Balance)		188,293			182,426			174,627			169,974			188,293			172,547			169,072			162,217			160,124			172,547		9.1	%
Net Charge-offs		1,948			1,174			1,129			1,134			5,385			1,064			985			829			937			4,347		23.9	%
Card 30 day delinquent		3.98	%		4.63	%		4.47	%		4.61	%		n/a			4.55	%		4.52	%		4.26	%		4.41	%		n/a
Card 60 day delinquent		2.71			3.14			3.03			3.25			n/a			3.14			3.10			2.89			3.09			n/a
Card 12 Month Lag Loss Rate		7.77			5.01			5.44			5.28			n/a			5.43			5.49			5.98			5.90			n/a

Global Corporate and Investment Banking
Allowance for Loan and Lease Loss (Ending Balance)	$	3,587		$	3,580		$	3,875		$	4,102		$	3,587		$	4,047		$	4,615		$	5,001		$	4,693		$	4,047		(11.4	)%
Outstanding Loans and Leases (Ending Balance)		232,673			220,918			210,832			209,009			232,673			204,040			199,936			199,717			201,677			204,040		14.0	%
Net Charge-offs		86			241			(5	)		39			361			47			28			149			275			499		(27.8	)%
Criticized Assets		7,208			7,253			7,247			8,238			7,208			9,570			11,239			12,642			16,660			9,570		(24.7	)%
Non-Performing Assets		665			785			1,091			1,481			665			1,550			1,928			2,221			2,614			1,550		(57.1	)%

Global Wealth and Investment Management
Allowance for Loan and Lease Loss (Ending Balance)	$	173		$	171		$	169		$	184		$	173		$	92		$	100		$	139		$	131		$	92		88.0	%
Outstanding Loans and Leases (Ending Balance)		58,380			56,147			54,332			51,845			58,380			49,860			47,107			44,827			44,048			49,860		17.1	%
Net Charge-offs		(1	)		(1	)		5			—			3			3			1			8			6			19		(84.9	)%

¹	Balances reflect Principal Investing only

²	Numbers and ratios reflect legacy Bank of America data only

³	Gross liquid assets - short-term liabilities

Bank of America Corporation

Global Consumer and Small Business Banking: Card Services (Held to Managed)

($ in Millions)


	2005 Pro Forma									2004 Pro Forma
	Held Card Full Year			Securitized Full Year			Managed Card Full Year			Held Card Full Year			Securitized Full Year			Managed Card Full Year
Income Statement
Net interest income	$	8,072		$	7,834		$	15,906		$	6,651		$	9,153		$	15,804

Service charges		—						—			—						—
Investment and brokerage services		—			—			—			—			—			—
Mortgage banking income		—			—			—			—			—			—
Investment banking income		—			—			—			—			—			—
Equity investment gains		—			—			—			—			—			—
Card income		10,518			(3,346	)		7,172			11,063			(4,606	)		6,457
Trading account profits		(36	)		—			(36	)		(86	)		—			(86	)
Other income		289			453			742			335			426			761

Total noninterest income		10,771			(2,893	)		7,878			11,312			(4,180	)		7,132

Total revenue		18,843			4,941			23,784			17,963			4,973			22,936

Provision for credit losses		5,063			4,941			10,004			4,390			4,973			9,363

Gains (losses) on sales of debt securities		—			—			—			—			—			—

Total noninterest expense		9,728			—			9,728			9,206			—			9,206

Income before income taxes		4,052			—			4,052			4,367			—			4,367

Income tax expense		1,454			—			1,454			1,596			—			1,596

Net income	$	2,598		$	—		$	2,598		$	2,771		$	—		$	2,771

The financial information above reconciles reported “Held Card” and the “Managed Card” to disclose the effect of securitizations. The differences between “Held Card” and “ Managed Card” are solely the result of card securitizations.


	2005 Proforma												2004 Proforma
	4th Qtr			3rd Qtr			2nd Qtr			1st Qtr			4th Qtr			3rd Qtr			2nd Qtr			1st Qtr
Impacted Accounts
Net interest income	$	(1,749	)	$	(1,890	)	$	(2,087	)	$	(2,108	)	$	(2,269	)	$	(2,283	)	$	(2,309	)	$	(2,292	)
Card income		363			914			998			1,071			1,216			1,190			1,112			1,088
Other income		(108	)		(117	)		(115	)		(113	)		(115	)		(108	)		(103	)		(100	)
Provision for credit losses		(1,494	)		(1,093	)		(1,204	)		(1,150	)		(1,168	)		(1,201	)		(1,300	)		(1,304	)

The above chart reconciles the difference between Managed Card and Held Card for the periods presented. The differences are solely the result of card securitizations.