8-K

As filed with the Securities and Exchange Commission on July 19, 2007.

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

July 19, 2007

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

Delaware

(State or other jurisdiction of incorporation)

1-6523

(Commission File Number)

56-0906609

(IRS Employer Identification No.)

100 North Tryon Street

Charlotte, North Carolina

(Address of principal executive offices)

28255

(Zip Code)

704.386.5681

(Registrant’s telephone number, including area code)

Not Applicable

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

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

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

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

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

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

ITEM 2.02.     RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On July 19, 2007, Bank of America Corporation (the “Registrant”) announced financial results for the second quarter ended June 30, 2007, reporting second quarter net income of $5.76 billion and diluted earnings per common share of $1.28. A copy of the press release announcing the Registrant’s results for the second quarter ended June 30, 2007 is attached hereto as Exhibit 99.1 and incorporated by reference herein.

ITEM 7.01.     REGULATION FD DISCLOSURE.

On July 19, 2007, the Registrant held an investor conference call and webcast to disclose financial results for the second quarter ended June 30, 2007. The Supplemental Information package for use during this conference call is furnished herewith as Exhibit 99.2 and incorporated by reference in Item 7.01. All information in the Supplemental Information package is presented as of June 30, 2007, and the Registrant does not assume any obligation to correct or update said information in the future.

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

ITEM 8.01.     OTHER EVENTS.

On July 19, 2007, the Registrant announced financial results for the second quarter ended June 30, 2007, reporting second quarter net income of $5.76 billion and diluted earnings per common share of $1.28. A copy of the press release announcing the Registrant’s results for the second quarter ended June 30, 2007 is attached hereto as Exhibit 99.1 and incorporated by reference herein.

ITEM 9.01     FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

The following exhibits are filed herewith:

Exhibit No.
99.1	Press Release dated July 19, 2007 with respect to the Registrant’s financial results for the second quarter ended June 30, 2007.
99.2	Supplemental Information prepared for use on July 19, 2007 in connection with financial results for the second quarter ended June 30, 2007.

SIGNATURE

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

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

Dated: July 19, 2007

EXHIBIT INDEX

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated July 19, 2007 with respect to the Registrant’s financial results for the second quarter ended June 30, 2007.
99.2	Supplemental Information prepared for use on July 19, 2007 in connection with financial results for the second quarter ended June 30, 2007.

EX-99.1

Exhibit 99.1

July 19, 2007

Investors May Contact:

Kevin Stitt, Bank of America, 1.704.386.5667

Lee McEntire, Bank of America, 1.704.388.6780

Leyla Pakzad, Bank of America, 1.704.386.2024

Reporters May Contact:

Scott Silvestri, Bank of America, 1.980.388.9921

scott.silvestri@bankofamerica.com

Bank of America Second Quarter Earnings Per Share Rose 8 Percent

Businesses Generate Solid Revenue Growth Across Customer Segments

CHARLOTTE — Bank of America Corporation today reported second quarter net income rose 5 percent to $5.76 billion from $5.48 billion a year earlier. Diluted earnings per share increased 8 percent to $1.28 from $1.19. Return on average common shareholders’ equity was 17.55 percent.

All three business segments recorded revenue increases. Results were mainly driven by continued healthy capital markets activity as well as good consumer noninterest income growth.

“Bank of America, with its diverse business model, was able to continue attractive earnings growth despite challenging headwinds,” said Chairman and Chief Executive Officer Kenneth D. Lewis. “Our businesses are doing a good job of attracting new customers and expanding our relationships with existing clients. Our investments in a number of businesses such as capital markets, mortgage and services for the affluent, in addition to the equity investment gains produced in the current environment, are generating results that more than offset spread compression impacting virtually all of our businesses and the trend toward more normalized credit costs.”

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Second Quarter 2007 Highlights (vs. a year earlier)

• Investment banking income rose 26 percent. The company gained market share in mergers and acquisitions as Bank of America continues to build its platform.

• Total sales of retail products rose 8 percent, generated by strong growth in sales of first mortgages, checking and savings accounts, credit cards and online banking activations. Net new retail checking accounts rose by 717,000.

• Strong originations of first mortgages were boosted by the successful launch of No Fee Mortgage PLUS which accounted for 11 percent of first mortgage production in the second quarter. In addition, the company closed in late June on the purchase of Reverse Mortgage of America, which will significantly increase Bank of America’s offerings of reverse mortgages to seniors.

• Keep the Change^TM passed the 5 million mark of customers who have saved more than $500 million since the inception of this innovative program.

• Total unit sales to small businesses with less than $2.5 million in annual sales rose 41 percent, while average deposits grew 5 percent. Expanding relationships with small businesses is a key strategic priority.

• Total assets under management (AUM) in Global Wealth and Investment Management increased 13 percent to more than $566 billion. More than half of the increase represented net new investment inflows by clients. On a 3-year AUM weighted basis, 93 percent of Columbia’s equity funds were in the top 2 performance quartiles compared with their peer group. ¹

• Premier Banking households using both bank and investment services rose 9 percent, reflecting the company’s strategy to meet more of the financial needs of these clients.

¹  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 as of May 31, 2007. The category percentile rank was calculated by ranking the three year net return of share classes within the categories. The assets of the number of funds within the top 2 quartile results were added and then divided by Columbia Management’s total assets under management. Past performance is no guarantee of future results. The share class earning the ranking may have limited eligibility and may not be available to all investors.

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Second Quarter 2007 Financial Summary

Revenue

Revenue net of interest expense on a fully taxable-equivalent basis increased 8 percent to $19.96 billion from $18.52 billion in the second quarter of 2006.

Noninterest income rose 17 percent to $11.18 billion from $9.59 billion in the second quarter of 2006, driven by increases in equity investment gains, other income, investment banking and service charges. Equity investment gains included a $600 million gain related to the sale of private equity funds to Conversus Capital, an investment partnership, as well as higher dividends from strategic investments.

Net interest income on a managed basis increased 1 percent to $10.73 billion compared with the year-ago quarter. Net interest income on a held basis declined 3 percent to $8.39 billion from $8.63 billion a year earlier. The net interest margin decreased 26 basis points to 2.59 percent.

Efficiency

The efficiency ratio on a fully taxable-equivalent basis was 45.56 percent for the second quarter of 2007. Noninterest expense increased 4 percent to $9.09 billion from $8.72 billion a year earlier. Expenses rose mainly because of higher incentive compensation and other personnel expenses, reflecting investment in various business platforms and an increase in litigation reserves. Higher expenses were somewhat offset by lower pretax merger and restructuring charges of $75 million compared with $194 million a year earlier.

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Credit Quality

Overall credit quality remained sound, but continues to move toward more normalized levels. Compared with the second quarter of 2006, net charge-offs increased primarily reflecting seasoning and a trend toward more normalized loss levels in the consumer and small business portfolios as well as lower commercial recoveries. Provision expense in the second quarter rose from a year ago due to higher net charge-offs as well as increased reserves for portfolio seasoning and higher loss expectations in the small business and home equity portfolios reflecting the growth of these businesses.

• Net charge-offs were $1.50 billion, or 0.81 percent of total average loans and leases compared with $1.43 billion, or 0.81 percent, in the first quarter. In the year-ago quarter net charge-offs were $1.02 billion, or 0.65 percent.

• Provision for credit losses was $1.81 billion, up from $1.24 billion in the first quarter and $1.01 billion in the second quarter of 2006.

• Total managed net losses were $2.77 billion, or 1.30 percent of total average managed loans and leases, compared with $2.57 billion, or 1.26 percent, in the first quarter and $1.81 billion, or 0.98 percent, in the second quarter of 2006.

• Nonperforming assets were $2.39 billion, or 0.32 percent of total loans, leases and foreclosed properties, at June 30. This compared with $2.06 billion, or 0.29 percent, at March 31 and $1.64 billion, or 0.25 percent, at June 30, 2006.

• The allowance for loan and lease losses was $9.06 billion, or 1.20 percent of total loans and leases, at June 30 compared with $8.73 billion, or 1.21 percent at March 31 and $9.08 billion, or 1.36 percent, at June 30, 2006.

Capital Management

Total shareholders’ equity was $135.75 billion at June 30. Period-end assets were $1.5 trillion. The Tier 1 capital ratio was 8.52 percent, down from 8.57 percent at March 31 and up from 8.33 percent a year ago.

During the quarter, Bank of America paid a cash dividend of $0.56 per share. The company also issued 11.3 million common shares related to employee stock options and ownership plans and repurchased 13.5 million common shares. Period-ending common shares issued and outstanding were 4.44 billion for the second quarter of 2007, compared with 4.44 billion for the first quarter and 4.53 billion for the second quarter of 2006.

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Second Quarter 2007 Business Segment Results

Global Consumer and Small Business Banking¹

(Dollars in millions)	Q2 2007			Q2 2006
Total revenue, net of interest expense2	$	11,939		$	11,377
Provision for credit losses3		3,094			1,807
Noninterest expense		4,969			4,508
Net income		2,459			3,204
Efficiency ratio		41.62	%		39.62	%
Return on average equity		15.80			20.14
Average managed loans and leases	$	317,246		$	282,390
Average deposits		326,741			336,105

¹  Managed basis. Managed basis assumes that loans that have been securitized were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. For more information and a detailed reconciliation, please refer to the data pages supplied with this Press Release.

²  Fully taxable-equivalent basis

³  Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

Net revenue rose 5 percent as higher card income, service charges and mortgage banking income contributed to a 9 percent increase in noninterest income. Net income decreased 23 percent from a year ago as managed credit costs rose because of portfolio seasoning, growth in the businesses and the trend toward more normalized levels.

Growth from innovative products like Keep the Change^TM, $0 Online Equity Trades and No Fee Mortgage PLUS generated increased customer activity.

• Deposits net revenue increased 5 percent to $4.40 billion and net income increased 3 percent to $1.33 billion. Consumer deposit growth (excluding the impact of balance migration to Premier Banking and Investments) of 1 percent was driven by account growth, especially in promotional and Risk Free CD^TM CD products.

• Card Services managed net revenue rose 2 percent to $6.43 billion while net income declined 44 percent to $961 million as credit costs increased.

• Consumer Real Estate, which includes the home equity and mortgage businesses, had $856 million in net revenue up 22 percent. Net income decreased 18 percent to $141 million because of higher provision expense from increased loss expectations in the home equity portfolio reflecting the growth of this business.

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Global Corporate and Investment Banking

(Dollars in millions)	Q2 2007			Q2 2006
Total revenue, net of interest expense1	$	5,814		$	5,315
Provision for credit losses		41			22
Noninterest expense		3,135			2,764
Net income		1,670			1,595
Efficiency ratio		53.91	%		52.01	%
Return on average equity		16.15			15.09
Average loans and leases	$	253,895		$	231,073
Average trading-related assets		377,171			330,816
Average deposits		220,063			193,620

¹  Fully taxable-equivalent basis

Net revenue rose 9 percent as debt underwriting and advisory fees helped increase noninterest income by 11 percent. Net income increased 5 percent.

The revenue increase was driven by Capital Markets and Advisory Services as investments in personnel and trading infrastructure continued to produce strong results. Investment banking revenue rose 27 percent from the second quarter of 2006, as increased market activity and deal flow continued to produce higher debt underwriting and advisory fees.

Provision expense rose $19 million because of lower commercial recoveries.

• Business Lending net revenue and net income were flat at $1.50 billion and $589 million, respectively, as good loan growth and fee generation offset continued spread compression.

• Capital Markets and Advisory Services net revenue increased 23 percent to $2.66 billion on strong investment banking fees and sales and trading revenue. Net income rose 32 percent.

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• Treasury Services net revenue was relatively unchanged at $1.69 billion, reflecting higher card income and strong average deposit growth of $5.93 billion, offset by a continued customer shift from non-interest-bearing to interest-bearing deposits. Net income declined 3 percent reflecting continued investment in upgrading our payments platform.

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Global Wealth and Investment Management

(Dollars in millions)	Q2 2007			Q2 2006
Total revenue, net of interest expense1	$	2,008		$	1,853
Provision for credit losses		(14	)		(40	)
Noninterest expense		1,044			971
Net income		619			582
Efficiency ratio		51.97	%		52.40	%
Return on average equity		25.06			24.59
Average loans and leases	$	67,964		$	59,803
Average deposits		118,255			101,251
(in billions)	At 6/30/07			At 6/30/06
Assets under management	$	566.2		$	500.1

¹  Fully taxable-equivalent basis

Net revenue increased 8 percent as higher customer activity and improved client asset flows resulted in a 13 percent increase in noninterest income. Net interest income rose 4 percent as loans increased 14 percent and deposits increased 7 percent (excluding balance migration from Global Consumer and Small Business Banking) offset by spread compression. Net income increased 6 percent.

Asset management fees increased 13 percent from the second quarter of 2006 as net asset inflows of $34.33 billion and $31.79 billion of market value growth produced higher assets under management.

• Premier Banking and Investments net revenue rose 8 percent to $941 million on record results in investment and brokerage services, up 24 percent from a year ago. Net income increased 6 percent to $331 million.

• The Private Bank had net revenue of $486 million, unchanged compared with a year earlier. Net income declined 18 percent to $125 million reflecting the impact of lower provision benefit and increased spread compression.

• Columbia Management net revenue rose 25 percent to $471 million supported by strong client inflows and increased market values. Net income increased 48 percent to $120 million.

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All Other¹

(Dollars in millions)	Q2 2007			Q2 2006
Total revenue, net of interest expense 2	$	197		$	(30	)
Provision for credit losses3		(1,311	)		(784	)
Noninterest expense		(55	)		474
Net income		1,013			94
Average loans and leases	$	101,094		$	62,383

¹  All Other consists primarily of equity investments, the residual impact of the allowance for credit losses and the cost allocation processes, 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 the offsetting securitization impact to present Global Consumer and Small Business Banking on a managed basis. For more information and a detailed reconciliation, please refer to the data pages supplied with this Press Release.

²  Fully taxable-equivalent basis

³  Represents the provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

All Other net income rose to $1.01 billion from $94 million a year earlier. Equity investment gains were $1.72 billion, up from $577 million. This was driven by an increase of $833 million in Principal Investing gains primarily related to the Conversus transaction and from a more than $200 million increase in income from strategic investments. Noninterest expense declined because of lower costs related to the sale of certain businesses and declining merger and restructuring charges.

Note: Chief Executive Officer Kenneth D. Lewis and Joe L. Price, chief financial officer, will discuss second quarter 2007 results in a conference call at 9:30 a.m. (Eastern Time) today. The call can be accessed via a Webcast available on the Bank of America Investor Relations Web site at http://investor.bankofamerica.com.

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Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small and middle market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk-management products and services. The company provides unmatched convenience in the United States, serving 57 million consumer and small business relationships with more than 5,700 retail banking offices, more than 17,000 ATMs and award-winning online banking with more than 22 million active users. Bank of America is the No. 1 overall Small Business Administration (SBA) lender in the United States and the No. 1 SBA lender to minority-owned small businesses. The company serves clients in 175 countries and has relationships with 98 percent of the U.S. Fortune 500 companies and 80 percent of the Fortune Global 500. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

Forward-Looking Statements

This press release contains forward-looking statements, including statements about the financial conditions, results of operations and earnings outlook of Bank of America Corporation. The forward-looking statements involve certain risks and uncertainties. Factors that may cause actual results or earnings to differ materially from such forward-looking statements include, among others, the following: 1) projected business increases following process changes and other investments are lower than expected; 2) competitive pressure among financial services companies increases significantly; 3) general economic conditions are less favorable than expected; 4) political conditions including the threat of future terrorist activity and related actions by the United States abroad may adversely affect the company’s businesses and economic conditions as a whole; 5) changes in the interest rate environment reduce interest margins and impact funding sources; 6) changes in foreign exchange rates increases exposure; 7) changes in market rates and prices may adversely impact the value of financial products; 8) legislation or regulatory environments, requirements or changes adversely affect the businesses in which the company is engaged; 9) changes in accounting standards, rules or interpretations, 10) litigation liabilities, including costs, expenses, settlements and judgments, may adversely affect the company or its businesses; 11) mergers and acquisitions and their integration into the company; and 12) decisions to downsize, sell or close units or otherwise change the business mix of any of the company. For further information regarding Bank of America Corporation, please read the Bank of America reports filed with the SEC and available at www.sec.gov.

Please consider the investment objectives, risks, charges and expenses of Columbia mutual funds carefully before investing. Contact your financial advisor for a prospectus which contains this and other important information about the fund. Read it carefully before you invest.

Columbia Management is the primary investment management division of Bank of America Corporation. Columbia Management entities furnish investment management services and advise institutional and mutual fund portfolios. Columbia Funds are distributed by Columbia Management Distributors, Inc., member NASD, SIPC. Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.

www.bankofamerica.com

###

Bank of America Corporation

Selected Financial Data

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

Summary Income Statement	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Net interest income		8,386			8,630			16,654			17,406
Total noninterest income		11,177			9,589			21,064			18,504
Total revenue, net of interest expense		19,563			18,219			37,718			35,910
Provision for credit losses		1,810			1,005			3,045			2,275
Other noninterest expense		9,018			8,523			18,004			17,349
Merger and restructuring charges		75			194			186			292
Income before income taxes		8,660			8,497			16,483			15,994
Income tax expense		2,899			3,022			5,467			5,533
Net income	$	5,761		$	5,475		$	11,016		$	10,461
Earnings per common share		1.29			1.21			2.47			2.29
Diluted earnings per common share		1.28			1.19			2.44			2.25
Summary Average Balance Sheet	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Total loans and leases	$	740,199		$	635,649		$	727,193		$	625,863
Debt securities		177,834			236,968			182,142			235,793
Total earning assets		1,358,199			1,253,895			1,340,172			1,236,848
Total assets		1,561,649			1,456,004			1,541,644			1,436,298
Total deposits		697,035			674,796			691,898			667,350
Shareholders’ equity		133,551			127,373			133,569			129,253
Common shareholders’ equity		130,700			127,102			130,718			128,981
Performance Ratios	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Return on average assets		1.48	%		1.51	%		1.44	%		1.47	%
Return on average common shareholders’ equity		17.55			17.26			16.86			16.34
Net interest yield		2.59			2.85			2.60	%		2.91
Credit Quality	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Net charge-offs	$	1,495		$	1,023		$	2,922		$	1,845
Annualized net charge-offs as a % of average loans and leases outstanding (1)		0.81	%		0.65	%		0.81	%		0.59	%
Provision for credit losses	$	1,810		$	1,005		$	3,045		$	2,275
Managed credit card net losses		2,099			1,474			4,052			2,720
Managed credit card net losses as a % of average managed credit card receivables		5.02	%		3.67	%		4.88	%		3.39	%
	June 30
	2007			2006
Nonperforming assets	$	2,392		$	1,641
Non performing assets as a % of total loans, leases and foreclosed properties (1)		0.32	%		0.25	%
Allowance for loan and lease losses	$	9,060		$	9,080
Allowance for loan and lease losses as a % of total loans and leases (1)		1.20	%		1.36	%
Capital Management	June 30
	2007			2006
Risk-based capital ratios:
Tier 1		8.52%	*		8.33	%
Total		12.11	*		11.25
Tier 1 leverage ratio		6.33	*		6.13
Period-end common shares issued and outstanding (in thousands)		4,436,936			4,527,941
	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Shares issued		11,316			29,673			40,235			68,608		(2)
Shares repurchased		13,450			83,050			61,450			171,500
Average common shares issued and outstanding		4,419,246			4,534,627			4,426,046			4,572,013
Average diluted common shares issued and outstanding		4,476,799			4,601,169			4,487,224			4,636,959
Dividends paid per common share	$	0.56		$	0.50		$	1.12		$	1.00
Summary Ending Balance Sheet	June 30
	2007			2006
Total loans and leases	$	758,635		$	667,953
Total debt securities		173,327			235,846
Total earning assets		1,328,402			1,245,274
Total assets		1,534,359			1,445,193
Total deposits		699,409			676,865
Total shareholders’ equity		135,751			127,841
Common shareholders’ equity		132,900			127,570
Book value per share		29.95			28.17

* Preliminary data

⁽¹⁾ Ratios do not include loans measured at fair value in accordance with SFAS 159 at and for the three and six months ended June 30, 2007.

⁽²⁾ Does not include 631,145 shares issued in conjunction with the merger with MBNA.

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

Bank of America Corporation

Business Segment Results

(Dollars in millions)

Global Consumer and Small Business Banking (1)	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Total revenue, net of interest expense (FTE) (2)	$	11,939		$	11,377		$	23,362		$	22,218
Provision for credit losses (3)		3,094			1,807			5,505			3,708
Noninterest expense		4,969			4,508			9,700			9,119
Net income		2,459			3,204			5,154			5,929
Efficiency ratio		41.62	%		39.62	%		41.52	%		41.04	%
Return on average equity		15.80			20.14			16.67			18.42
Average loans and leases	$	317,246		$	282,390		$	312,701		$	280,821
Average deposits		326,741			336,105			326,647			334,413
Deposits
Total revenue, net of interest expense (FTE) (2)	$	4,404		$	4,193		$	8,645		$	8,099
Net income		1,329			1,289			2,616			2,348
Card Services
Total revenue, net of interest expense (FTE) (2)		6,430			6,328			12,561			12,327
Net income		961			1,715			2,112			3,144
CRE
Total revenue, net of interest expense (FTE) (2)		856			701			1,695			1,417
Net income		141			173			371			359
Global Corporate and Investment Banking	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Total revenue, net of interest expense (FTE) (2)	$	5,814		$	5,315		$	11,137		$	10,599
Provision for credit losses		41			22			156			47
Noninterest expense		3,135			2,764			6,035			5,596
Net income		1,670			1,595			3,117			3,120
Efficiency ratio		53.91	%		52.01	%		54.18	%		52.80	%
Return on average equity		16.15			15.09			15.27			14.91
Average loans and leases	$	253,895		$	231,073		$	250,913		$	228,080
Average deposits		220,063			193,620			214,307			190,142
Business Lending
Total revenue, net of interest expense (FTE) (2)	$	1,502		$	1,503		$	2,850		$	2,862
Net income		589			593			1,047			1,121
Capital Markets and Advisory Services
Total revenue, net of interest expense (FTE) (2)		2,663			2,162			5,023			4,471
Net income		639			483			1,167			1,007
Treasury Services
Total revenue, net of interest expense (FTE) (2)		1,689			1,673			3,312			3,299
Net income		518			536			1,007			1,042
Global Wealth and Investment Management	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Total revenue, net of interest expense (FTE) (2)	$	2,008		$	1,853		$	3,896		$	3,682
Provision for credit losses		(14)			(40)			9			(40)
Noninterest expense		1,044			971			2,061			1,938
Net income		619			582			1,151			1,123
Efficiency ratio		51.97	%		52.40	%		52.89	%		52.65	%
Return on average equity		25.06			24.59			23.33			22.52
Average loans and leases	$	67,964		$	59,803		$	66,908		$	58,979
Average deposits		118,255			101,251			116,615			101,140
The Private Bank
Total revenue, net of interest expense (FTE) (2)	$	486		$	488		$	943		$	970
Net income		125			153			205			273
Columbia Management
Total revenue, net of interest expense (FTE) (2)		471			378			896			742
Net income		120			81			216			162
Premier Banking and Investments
Total revenue, net of interest expense (FTE) (2)		941			868			1,848			1,698
Net income		331			311			644			583
All Other (1)	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Total revenue, net of interest expense (FTE) (2)	$	197		$	(30)		$	47		$	(29)
Provision for credit losses (4)		(1,311)			(784)			(2,625)			(1,440)
Noninterest expense		(55)			474			394			988
Net income		1,013			94			1,594			289
Average loans and leases	$	101,094		$	62,383		$	96,671		$	57,983
Average deposits		31,976			43,820			34,329			41,655

⁽¹⁾ GCSBB is presented on a managed basis with a corresponding offset recorded in All Other.

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

⁽³⁾ Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized portfolio.

⁽⁴⁾ Represents the provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

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

Bank of America Corporation

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data (1)	Three Months Ended June 30						Six Months Ended June 30
	2007			2006			2007			2006
Net interest income	$	8,781		$	8,926		$	17,378		$	17,966
Total revenue, net of interest expense		19,958			18,515			38,442			36,470
Net interest yield		2.59	%		2.85	%		2.60	%		2.91	%
Efficiency ratio		45.56			47.08			47.32			48.37
Other Data	June 30
	2007			2006
Full-time equivalent employees		195,675			201,898
Number of banking centers - domestic		5,749			5,779
Number of branded ATMs - domestic		17,183			16,984

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

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

Bank of America Corporation

Reconciliation - Managed to GAAP

(Dollars in millions; except as noted)

The Corporation reports its Global Consumer and Small Business Banking results, specifically Card Services, on a managed basis. The change to a managed basis is consistent with the way that management as well as analysts and rating agencies evaluate the results of Global Consumer and Small Business Banking. Managed basis assumes that loans that have been securitized were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. Loan securitization is an alternative funding process that is used by the Corporation to diversify funding sources. Loan securitization removes loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualified special purpose entity which is excluded from the Corporation’s consolidated financial statements in accordance with generally accepted accounting principles.

The performance of the managed portfolio is important in understanding Global Consumer and Small Business Banking’s and Card Services’ results as it demonstrates the results of the entire portfolio serviced by the business. Securitized loans continue to be serviced by the business and are subject to the same underwriting standards and ongoing monitoring as held loans. In addition, retained excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. Global Consumer and Small Business Banking’s managed income statement line items differ from its held basis reported in the prior periods as follows:

• Managed net interest income includes Global Consumer and Small Business Banking’s net interest income on held loans and interest income on the securitized loans less the internal funds transfer pricing allocation related to securitized loans.

• Managed noninterest income includes Global Consumer and Small Business Banking’s noninterest income on a held basis less the reclassification of certain components of card income (e.g., excess servicing income) to record managed net interest income and provision for credit losses. Noninterest income, both on a held and managed basis, also includes the impact of adjustments to the interest-only strip that are recorded in card income as management continues to manage this impact within Global Consumer and Small Business Banking.

• The provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

Global Consumer and Small Business Banking

	Second Quarter 2007						Second Quarter 2006
	Managed Basis		Securitization Impact (1)		Held Basis		Managed Basis		Securitization Impact (1)		Held Basis
Net interest income (2)	$	7,150	$	(1,981)	$	5,169	$	6,967	$	(1,846)	$	5,121
Noninterest income
Card income		2,676		793		3,469		2,528		1,136		3,664
Service charges		1,488		-		1,488		1,349		-		1,349
Mortgage banking income		297		-		297		210		-		210
Gains (losses) on sales of debt securities		-		-		-		-		-		-
All other income		328		(74)		254		323		(67)		256
Total noninterest income		4,789		719		5,508		4,410		1,069		5,479
Total revenue, net of interest expense		11,939		(1,262)		10,677		11,377		(777)		10,600
Provision for credit losses (3)		3,094		(1,262)		1,832		1,807		(777)		1,030
Noninterest expense		4,969		-		4,969		4,508		-		4,508
Income before income taxes		3,876		-		3,876		5,062		-		5,062
Income tax expense (2)		1,417		-		1,417		1,858		-		1,858
Net income	$	2,459	$	-	$	2,459	$	3,204	$	-	$	3,204
Average loans and leases	$	317,246	$	(101,905)	$	215,341	$	282,390	$	(94,952)	$	187,438
All Other
	Second Quarter 2007						Second Quarter 2006
	Reported		Securitization Offset (1)		As Adjusted		Reported		Securitization Offset (1)		As Adjusted
Net interest income (2)	$	(1,945)	$	1,981	$	36	$	(1,404)	$	1,846	$	442
Noninterest income
Card income		676		(793)		(117)		961		(1,136)		(175)
Equity investment gains		1,719		-		1,719		577		-		577
Gains (losses) on sales of debt securities		2		-		2		(5)		-		(5)
All other income		(255)		74		(181)		(159)		67		(92)
Total noninterest income		2,142		(719)		1,423		1,374		(1,069)		305
Total revenue, net of interest expense		197		1,262		1,459		(30)		777		747
Provision for credit losses (4)		(1,311)		1,262		(49)		(784)		777		(7)
Merger and restructuring charges		75		-		75		194		-		194
All other noninterest expense		(130)		-		(130)		280		-		280
Income before income taxes		1,563		-		1,563		280		-		280
Income tax expense (benefit) (2)		550		-		550		186		-		186
Net income	$	1,013	$	-	$	1,013	$	94	$	-	$	94
Average loans and leases	$	101,094	$	101,905	$	202,999	$	62,383	$	94,952	$	157,335

⁽¹⁾ The securitization impact on Net Interest Income is on a funds transfer pricing methodology consistent with the way we allocate funding costs to our businesses.

⁽²⁾ Fully taxable-equivalent basis

⁽³⁾ Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized portfolio.

⁽⁴⁾ Represents the provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

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

EX-99.2

Exhibit 99.2

Supplemental Information

Second Quarter 2007

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

Bank of America Corporation
Table of Contents	Page
Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Balance Sheet	5
Capital Management	6
Core Net Interest Income - Managed Basis	7
Quarterly Average Balances and Interest Rates	8
Quarterly Average Balances and Interest Rates - Isolating Hedge Income/Expense	9
Year-to-Date Average Balances and Interest Rates	10
Year-to-Date Average Balances and Interest Rates - Isolating Hedge Income/Expense	11
Business Segment View Graphs	12
Global Consumer and Small Business Banking
Total Segment Results	13
Quarter-to-Date Business Results	14
Year-to-Date Business Results	15
Customer Relationship View	16
Key Indicators	17
E-commerce & BankofAmerica.com	18
Credit Card Data	19
Global Corporate and Investment Banking
Total Segment Results	20
Quarter-to-Date Business Results	21
Year-to-Date Business Results	22
Quarter-to-Date Customer Relationship View	23
Year-to-Date Customer Relationship View	24
Business Lending Key Indicators	25
Capital Markets and Advisory Services Key Indicators	26
Securities U.S. Market Share and Product Ranking Graph	27
Global Wealth and Investment Management
Total Segment Results	28
Quarter-to-Date Business Results	29
Year-to-Date Business Results	30
Key Indicators	31
All Other
Total Segment Results	32
Outstanding Loans and Leases	33
Average Loans and Leases by Business Segment	34
Commercial Credit Exposure by Industry	35
Net Credit Default Protection by Maturity Profile and Credit Exposure Debt Rating	36
Selected Emerging Markets	37
Nonperforming Assets	38
Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios	39
Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios	40
Exhibit A: Non - GAAP Reconciliations
Global Consumer and Small Business Banking - Reconciliation	41
All Other - Reconciliation	42
Reconciliation of Net Charge-offs and Net Charge-off Ratios to Net Charge-offs and Net Charge-off Ratios Excluding the Impact of SOP 03-3	43

1

Bank of America Corporation

Consolidated Financial Highlights

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

	Six Months Ended June 30				Second     Quarter     2007		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
	2007		2006
Income statement
Net interest income	$16,654		$17,406		$8,386		$8,268		$8,599		$8,586		$8,630
Noninterest income (1)	21,064		18,504		11,177		9,887		9,887		9,598		9,589
Total revenue, net of interest expense	37,718		35,910		19,563		18,155		18,486		18,184		18,219
Provision for credit losses	3,045		2,275		1,810		1,235		1,570		1,165		1,005
Noninterest expense	18,190		17,641		9,093		9,097		9,093		8,863		8,717
Income tax expense	5,467		5,533		2,899		2,568		2,567		2,740		3,022
Net income	11,016		10,461		5,761		5,255		5,256		5,416		5,475
Diluted earnings per common share	2.44		2.25		1.28		1.16		1.16		1.18		1.19
Average diluted common shares issued and outstanding	4,487,224		4,636,959		4,476,799		4,497,028		4,536,696		4,570,558		4,601,169
Dividends paid per common share	$1.12		$1.00		$0.56		$0.56		$0.56		$0.56		$0.50
Performance ratios
Return on average assets	1.44	%	1.47	%	1.48	%	1.40	%	1.39	%	1.43	%	1.51	%
Return on average common shareholders’ equity	16.86		16.34		17.55		16.16		15.76		16.64		17.26
At period end
Book value per share of common stock	$29.95		$28.17		$29.95		$29.74		$29.70		$29.52		$28.17
Tangible book value per share of common stock (2)	15.11		13.58		15.11		14.94		14.97		14.88		13.58
Market price per share of common stock:
Closing price	$48.89		$48.10		$48.89		$51.02		$53.39		$53.57		$48.10
High closing price for the period	54.05		50.47		51.82		54.05		54.90		53.57		50.47
Low closing price for the period	48.80		43.09		48.80		49.46		51.66		47.98		45.48
Market capitalization	216,922		217,794		216,922		226,481		238,021		240,966		217,794
Number of banking centers - domestic	5,749		5,779		5,749		5,737		5,747		5,722		5,779
Number of branded ATMs - domestic	17,183		16,984		17,183		17,117		17,079		16,846		16,984
Full-time equivalent employees	195,675		201,898		195,675		199,429		203,425		200,220		201,898

(1) Effective April 1, 2007, the Corporation changed its income statement presentation to reflect gains (losses) on sales of debt securities as a component of noninterest income.

(2) Tangible book value per share of common stock is a non-GAAP measure. For a corresponding reconciliation to a GAAP financial measure, see Supplemental Financial Data on page 3. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the Corporation.

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

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

Bank of America Corporation

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data

	Six Months Ended June 30				Second     Quarter     2007		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
	2007		2006
Net interest income	$17,378		$17,966		$8,781		$8,597		$8,955		$8,894		$8,926
Total revenue, net of interest expense (1)	38,442		36,470		19,958		18,484		18,842		18,492		18,515
Net interest yield	2.60	%	2.91	%	2.59	%	2.61	%	2.75	%	2.73	%	2.85	%
Efficiency ratio	47.32		48.37		45.56		49.22		48.26		47.93		47.08

Reconciliation to GAAP financial measures

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

Return on average common shareholders’ equity and return on average tangible shareholders’ equity utilize non-GAAP allocation methodologies. Return on average common shareholders’ equity measures the earnings contribution of a unit as a percentage of the shareholders’ equity allocated to that unit. Return on average tangible shareholders’ equity measures the earnings contribution of the Corporation as a percentage of shareholders’ equity reduced by goodwill. These measures are used to evaluate our use of equity (i.e., capital) at the individual unit level and are integral components in the analytics for resource allocation. The efficiency ratio measures the costs expended to generate a dollar of revenue. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation.

Other companies may define or calculate supplemental financial data differently. See the tables below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the quarters ended June 30, 2007, March 31, 2007, December 31, 2006, September 30, 2006, and June 30, 2006, and the six months ended June 30, 2007 and 2006.

Reconciliation of net income to operating earnings

	Six Months Ended June 30				Second     Quarter     2007		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
	2007		2006
Net income	$11,016		$10,461		$5,761		$5,255		$5,256		$5,416		$5,475
Merger and restructuring charges	186		292		75		111		244		269		194
Related income tax benefit	(69)		(108)		(28)		(41)		(90)		(100)		(71)
Operating earnings	$11,133		$10,645		$5,808		$5,325		$5,410		$5,585		$5,598
Reconciliation of ending common shareholders’ equity to ending common tangible shareholders’ equity
Ending common shareholders’ equity	$132,900		$127,570		$132,900		$132,005		$132,421		$132,771		$127,570
Ending goodwill	(65,845)		(66,095)		(65,845)		(65,696)		(65,662)		(65,818)		(66,095)
Ending common tangible shareholders’ equity	$67,055		$61,475		$67,055		$66,309		$66,759		$66,953		$61,475
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Average shareholders’ equity	$133,569		$129,253		$133,551		$133,588		$134,047		$129,262		$127,373
Average goodwill	(65,703)		(66,160)		(65,704)		(65,703)		(65,766)		(66,077)		(66,226)
Average tangible shareholders’ equity	$67,866		$63,093		$67,847		$67,885		$68,281		$63,185		$61,147
Operating basis
Return on average assets	1.46	%	1.49	%	1.49	%	1.42	%	1.44	%	1.48	%	1.54	%
Return on average common shareholders’ equity	17.04		16.63		17.70		16.38		16.22		17.16		17.65
Return on average tangible shareholders’ equity	33.08		34.02		34.34		31.81		31.44		35.07		36.72
Efficiency ratio (2)	46.83		47.57		45.18		48.62		46.96		46.48		46.03

(1) Effective April 1, 2007, the Corporation changed its income statement presentation to reflect gains (losses) on sales of debt securities as a component of noninterest income.

(2) Fully taxable-equivalent basis

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

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

Bank of America Corporation

Consolidated Statement of Income

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

	Six Months Ended June 30		Second     Quarter     2007	First     Quarter     2007	Fourth     Quarter     2006	Third     Quarter     2006	Second     Quarter     2006
	2007	2006
Interest income
Interest and fees on loans and leases	$26,207	$22,931	$13,323	$12,884	$12,705	$12,638	$11,804
Interest on debt securities	4,712	6,135	2,332	2,380	2,440	3,080	3,121
Federal funds sold and securities purchased under agreements to resell	4,135	3,609	2,156	1,979	2,068	2,146	1,900
Trading account assets	4,540	3,175	2,267	2,273	2,201	1,856	1,627
Other interest income	2,198	1,572	1,154	1,044	1,077	952	845
Total interest income	41,792	37,422	21,232	20,560	20,491	20,672	19,297
Interest expense
Deposits	8,295	6,515	4,261	4,034	3,989	3,976	3,508
Short-term borrowings	10,855	9,151	5,537	5,318	5,222	5,467	4,842
Trading account liabilities	1,713	1,113	821	892	800	727	596
Long-term debt	4,275	3,237	2,227	2,048	1,881	1,916	1,721
Total interest expense	25,138	20,016	12,846	12,292	11,892	12,086	10,667
Net interest income	16,654	17,406	8,386	8,268	8,599	8,586	8,630
Noninterest income
Card income	6,891	7,098	3,558	3,333	3,719	3,473	3,664
Service charges	4,272	3,978	2,200	2,072	2,099	2,147	2,077
Investment and brokerage services	2,342	2,249	1,193	1,149	1,122	1,085	1,146
Investment banking income	1,412	1,113	774	638	694	510	612
Equity investment gains	2,843	1,417	1,829	1,014	1,067	705	699
Trading account profits	1,762	1,975	890	872	460	731	915
Mortgage banking income	361	226	148	213	126	189	89
Gains (losses) on sales of debt securities (1)	64	5	2	62	21	(469)	(9)
Other income	1,117	443	583	534	579	1,227	396
Total noninterest income	21,064	18,504	11,177	9,887	9,887	9,598	9,589
Total revenue, net of interest expense	37,718	35,910	19,563	18,155	18,486	18,184	18,219
Provision for credit losses	3,045	2,275	1,810	1,235	1,570	1,165	1,005
Noninterest expense
Personnel	9,762	9,293	4,737	5,025	4,444	4,474	4,480
Occupancy	1,457	1,404	744	713	726	696	703
Equipment	682	660	332	350	351	318	316
Marketing	1,092	1,126	537	555	623	587	551
Professional fees	512	451	283	229	368	259	233
Amortization of intangibles	780	881	391	389	433	441	441
Data processing	909	819	472	437	487	426	409
Telecommunications	495	448	244	251	260	237	228
Other general operating	2,315	2,267	1,278	1,037	1,157	1,156	1,162
Merger and restructuring charges	186	292	75	111	244	269	194
Total noninterest expense	18,190	17,641	9,093	9,097	9,093	8,863	8,717
Income before income taxes	16,483	15,994	8,660	7,823	7,823	8,156	8,497
Income tax expense	5,467	5,533	2,899	2,568	2,567	2,740	3,022
Net income	$11,016	$10,461	$5,761	$5,255	$5,256	$5,416	$5,475
Preferred stock dividends	86	9	40	46	13	-	4
Net income available to common shareholders	$10,930	$10,452	$5,721	$5,209	$5,243	$5,416	$5,471
Per common share information
Earnings	$2.47	$2.29	$1.29	$1.18	$1.17	$1.20	$1.21
Diluted earnings	2.44	2.25	1.28	1.16	1.16	1.18	1.19
Dividends paid	1.12	1.00	0.56	0.56	0.56	0.56	0.50
Average common shares issued and outstanding	4,426,046	4,572,013	4,419,246	4,432,664	4,464,110	4,499,704	4,534,627
Average diluted common shares issued and outstanding	4,487,224	4,636,959	4,476,799	4,497,028	4,536,696	4,570,558	4,601,169

(1) Effective April 1, 2007, the Corporation changed its income statement presentation to reflect gains (losses) on sales of debt securities as a component of noninterest income.

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

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

Bank of America Corporation

Consolidated Balance Sheet

(Dollars in millions)

	June 30     2007	March 31     2007	June 30     2006
Assets
Cash and cash equivalents	$35,499	$31,549	$34,545
Time deposits placed and other short-term investments	13,151	12,037	14,652
Federal funds sold and securities purchased under agreements to resell	131,658	138,646	136,645
Trading account assets	182,404	174,218	134,708
Derivative assets	29,810	25,279	25,526
Debt securities:
Available-for-sale	172,332	180,961	235,785
Held-to-maturity, at cost	995	925	61
Total debt securities	173,327	181,886	235,846
Loans and leases	758,635	723,633	667,953
Allowance for loan and lease losses	(9,060)	(8,732)	(9,080)
Loans and leases, net of allowance	749,575	714,901	658,873
Premises and equipment, net	9,482	9,271	9,334
Mortgage servicing rights (includes $3,269; $2,963 and $3,083 measured at fair value)	3,508	3,141	3,231
Goodwill	65,845	65,696	66,095
Intangible assets	8,720	9,217	10,338
Other assets	131,380	136,316	115,400
Total assets	$1,534,359	$1,502,157	$1,445,193
Liabilities
Deposits in domestic offices:
Noninterest-bearing	$172,573	$174,082	$177,209
Interest-bearing	422,201	425,197	410,940
Deposits in foreign offices:
Noninterest-bearing	3,006	3,346	6,765
Interest-bearing	101,629	90,176	81,951
Total deposits	699,409	692,801	676,865
Federal funds purchased and securities sold under agreements to repurchase	221,064	234,413	259,108
Trading account liabilities	75,070	77,289	57,486
Derivative liabilities	25,141	17,946	18,633
Commercial paper and other short-term borrowings	159,542	156,844	136,886
Accrued expenses and other liabilities (includes $376, $374 and $395 of reserve for unfunded lending commitments)	49,065	35,446	39,318
Long-term debt	169,317	152,562	129,056
Total liabilities	1,398,608	1,367,301	1,317,352
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 121,739; 121,739 and 1,090,189 shares	2,851	2,851	271
Common stock and additional paid-in capital, $0.01 par value; authorized - 7,500,000,000 shares; issued and outstanding - 4,436,935,963; 4,439,069,837 and 4,527,940,943 shares	60,349	60,536	65,822
Retained earnings (1)	83,223	79,996	73,393
Accumulated other comprehensive income (loss) (2)	(9,957)	(7,660)	(10,973)
Other	(715)	(867)	(672)
Total shareholders’ equity	135,751	134,856	127,841
Total liabilities and shareholders’ equity	$1,534,359	$1,502,157	$1,445,193

(1) Effective January 1, 2007, the Corporation adopted Financial Accounting Standards Board (FASB) Staff Position No. FAS 13-2, “Accounting for a Change or Projected Change in the Timing of Cash Flows Relating to Income Taxes Generated by a Leveraged Lease Transaction” (FSP 13-2). The adoption of FSP 13-2 reduced the beginning balance of retained earnings by $1,381 million, net of tax, with a corresponding offset decreasing the net investment in leveraged leases. Effective January 1, 2007, the Corporation adopted Statement of Financial Accounting Standards (SFAS) No. 157, “Fair Value Measurements” and SFAS No. 159, “The Fair Value Option for Financial Assets and Financial Liabilities” (SFAS 159) which reduced the beginning balance of retained earnings by $208 million, net of tax. In addition, the Corporation adopted FASB Interpretation No. 48, “Accounting for Uncertainty in Income Taxes, an interpretation of FASB Statement No. 109” (FIN 48). The adoption of FIN 48 reduced the beginning balance of retained earnings by $146 million.

(2) Effective December 31, 2006, the Corporation adopted SFAS No. 158, “Employers’ Accounting for Defined Benefit Pension and Other Postretirement Plans, an amendment of FASB Statements No. 87, 88, 106, and 132(R)”, which reduced accumulated other comprehensive income (loss) by approximately $1,308 million, net of tax.

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

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

Bank of America Corporation

Capital Management

(Dollars in millions)

	Second     Quarter     2007 (1)		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
Risk-based capital:
Tier 1 capital	$94,979		$91,112		$91,064		$88,085		$84,978
Total capital	135,059		126,958		125,226		119,074		114,738
Risk-weighted assets	1,115,150		1,062,883		1,054,533		1,039,283		1,019,828
Tier 1 capital ratio	8.52	%	8.57	%	8.64	%	8.48	%	8.33	%
Total capital ratio	12.11		11.94		11.88		11.46		11.25
Tangible equity ratio (2)	4.19		4.20		4.35		4.22		3.76
Tier 1 leverage ratio	6.33		6.25		6.36		6.16		6.13

(1) Preliminary data on risk-based capital

(2) Tangible equity ratio equals shareholders’ equity less goodwill and intangible assets divided by total assets less goodwill and intangible assets.

Share Repurchase Program

13.5 million common shares were repurchased in the second quarter of 2007 as a part of an ongoing share repurchase program.

201.6 million shares remain outstanding under the 2006 and 2007 authorized programs.

11.3 million shares were issued in the second quarter of 2007.

*Preliminary data on risk-based capital

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

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

Bank of America Corporation

Core Net Interest Income - Managed Basis

(Dollars in millions)

	Six Months Ended June 30				Second     Quarter     2007		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
	2007		2006
Net interest income
As reported (1)	$17,378		$17,966		$8,781		$8,597		$8,955		$8,894		$8,926
Impact of market-based net interest income (2)	(1,119)		(792)		(635)		(484)		(488)		(376)		(380)
Core net interest income	16,259		17,174		8,146		8,113		8,467		8,518		8,546
Impact of securitizations (3)	3,811		3,435		1,952		1,859		1,850		1,760		1,710
Core net interest income - managed basis	$20,070		$20,609		$10,098		$9,972		$10,317		$10,278		$10,256
Average earning assets
As reported	$1,340,172		$1,236,848		$1,358,199		$1,321,946		$1,299,461		$1,302,366		$1,253,895
Impact of market-based earning assets (2)	(416,928)		(347,170)		(425,647)		(408,113)		(405,811)		(376,010)		(357,617)
Core average earning assets	923,244		889,678		932,552		913,833		893,650		926,356		896,278
Impact of securitizations	102,442		96,523		102,357		102,529		100,786		98,722		96,776
Core average earning assets - managed basis	$1,025,686		$986,201		$1,034,909		$1,016,362		$994,436		$1,025,078		$993,054
Net interest yield contribution
As reported (1)	2.60	%	2.91	%	2.59	%	2.61	%	2.75	%	2.73	%	2.85	%
Impact of market-based activities	0.93		0.96		0.91		0.95		1.03		0.94		0.97
Core net interest yield on earning assets	3.53		3.87		3.50		3.56		3.78		3.67		3.82
Impact of securitizations	0.39		0.32		0.41		0.38		0.36		0.33		0.31
Core net interest yield on earning assets - managed basis	3.92	%	4.19	%	3.91	%	3.94	%	4.14	%	4.00	%	4.13	%

(1) Fully taxable-equivalent basis

(2) Represents market-based amounts included in the Capital Markets and Advisory Services business within Global Corporate and Investment Banking.

(3) Represents the impact of securitizations utilizing actual bond costs. This is different from the segment view which utilizes funds transfer pricing methodologies.

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

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

Bank of America Corporation

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

(Dollars in millions)

	Second Quarter 2007				First Quarter 2007				Second Quarter 2006 (1)
	Average Balance	Interest Income/ Expense	Yield/ Rate		Average Balance	Interest Income/ Expense	Yield/ Rate		Average Balance	Interest Income/ Expense	Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$15,310	$188	4.92	%	$15,023	$169	4.57	%	$16,691	$168	4.05	%
Federal funds sold and securities purchased under agreements to resell	166,258	2,156	5.19		166,195	1,979	4.79		179,104	1,900	4.25
Trading account assets	188,287	2,364	5.03		175,249	2,357	5.41		133,556	1,712	5.13
Debt securities (2)	177,834	2,394	5.39		186,498	2,451	5.27		236,967	3,162	5.34
Loans and leases (3):
Residential mortgage	260,099	3,708	5.70		246,618	3,504	5.69		197,228	2,731	5.54
Credit card - domestic	56,235	1,777	12.67		57,720	1,887	13.26		64,980	2,168	13.38
Credit card - foreign	11,946	350	11.76		11,133	317	11.55		8,305	269	12.97
Home equity (4)	94,267	1,779	7.57		89,559	1,679	7.60		75,894	1,378	7.28
Direct/Indirect consumer	64,227	1,354	8.46		60,157	1,221	8.23		48,003	910	7.59
Other consumer (5)	8,101	187	9.28		8,809	204	9.36		10,804	294	10.95
Total consumer	494,875	9,155	7.41		473,996	8,812	7.50		405,214	7,750	7.66
Commercial - domestic	166,529	3,039	7.32		163,620	2,934	7.27		148,445	2,695	7.28
Commercial real estate (6)	36,788	687	7.49		36,117	672	7.55		36,749	680	7.41
Commercial lease financing	19,784	217	4.40		19,651	175	3.55		20,896	262	5.01
Commercial - foreign	22,223	319	5.75		20,658	330	6.48		24,345	456	7.52
Total commercial	245,324	4,262	6.97		240,046	4,111	6.94		230,435	4,093	7.12
Total loans and leases	740,199	13,417	7.26		714,042	12,923	7.31		635,649	11,843	7.47
Other earning assets	70,311	1,108	6.31		64,939	1,010	6.28		51,928	808	6.24
Total earning assets (7)	1,358,199	21,627	6.38		1,321,946	20,889	6.37		1,253,895	19,593	6.26
Cash and cash equivalents	33,689				33,623				35,070
Other assets, less allowance for loan and lease losses	169,761				165,849				167,039
Total assets	$1,561,649				$1,521,418				$1,456,004
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$33,039	$47	0.58	%	$32,773	$41	0.50	%	$35,681	$76	0.84	%
NOW and money market deposit accounts	212,330	987	1.86		212,249	936	1.79		221,198	996	1.81
Consumer CDs and IRAs	161,703	1,857	4.61		159,505	1,832	4.66		141,408	1,393	3.95
Negotiable CDs, public funds and other time deposits	16,256	191	4.70		13,376	136	4.12		13,005	123	3.80
Total domestic interest-bearing deposits	423,328	3,082	2.92		417,903	2,945	2.86		411,292	2,588	2.52
Foreign interest-bearing deposits:
Banks located in foreign countries	41,940	522	4.99		40,372	531	5.34		32,456	489	6.05
Governments and official institutions	17,868	224	5.02		14,482	178	4.98		13,428	155	4.63
Time, savings and other	40,335	433	4.31		39,534	380	3.90		37,178	276	2.98
Total foreign interest-bearing deposits	100,143	1,179	4.72		94,388	1,089	4.68		83,062	920	4.44
Total interest-bearing deposits	523,471	4,261	3.27		512,291	4,034	3.19		494,354	3,508	2.85
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings	419,260	5,537	5.30		414,104	5,318	5.20		408,734	4,842	4.75
Trading account liabilities	85,550	821	3.85		77,635	892	4.66		61,263	596	3.90
Long-term debt	158,500	2,227	5.62		148,627	2,048	5.51		125,620	1,721	5.48
Total interest-bearing liabilities (7)	1,186,781	12,846	4.34		1,152,657	12,292	4.31		1,089,971	10,667	3.92
Noninterest-bearing sources:
Noninterest-bearing deposits	173,564				174,413				180,442
Other liabilities	67,753				60,760				58,218
Shareholders’ equity	133,551				133,588				127,373
Total liabilities and shareholders’ equity	$1,561,649				$1,521,418				$1,456,004
Net interest spread			2.04	%			2.06	%			2.34	%
Impact of noninterest-bearing sources			0.55				0.55				0.51
Net interest income/yield on earning assets		$8,781	2.59	%		$8,597	2.61	%		$8,926	2.85	%

(1) Interest income (FTE basis) for the three months ended June 30, 2006, does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact to net interest income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million and 9 bps, respectively, for the three months ended June 30, 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for net interest income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.

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

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

(4) Includes home equity loans of $15.6 billion and $13.5 billion in the second and first quarters of 2007 and $8.7 billion in the second quarter of 2006.

(5) Includes consumer finance loans of $3.4 billion and $3.0 billion in the second and first quarters of 2007 and $3.0 billion in the second quarter of 2006, and foreign consumer loans of $4.7 billion and $5.8 billion in the second and first quarters of 2007 and $7.8 billion in the second quarter of 2006.

(6) Includes domestic commercial real estate loans of $36.2 billion and $35.5 billion in the second and first quarters of 2007 and $36.0 billion in the second quarter of 2006.

(7) Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $117 million and $121 million in the second and first quarters of 2007 and $54 million in the second quarter of 2006. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $207 million and $179 million in the second and first quarters of 2007 and $87 million in the second quarter of 2006.

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

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

Bank of America Corporation

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

(Dollars in millions)

	Second Quarter 2007				First Quarter 2007				Second Quarter 2006
	Average   Balance	Interest  Income/    Expense	Yield/    Rate		Average   Balance	Interest   Income/  Expense	Yield/   Rate		Average   Balance	Interest   Income/  Expense	Yield/   Rate
Earning assets
Time deposits placed and other short-term investments (2)	$15,310	$198	5.20	%	$15,023	$196	5.29	%	$16,691	$181	4.36	%
Federal funds sold and securities purchased under agreements to resell (2)	166,258	2,256	5.43		166,195	2,085	5.04		179,104	2,014	4.50
Trading account assets	188,287	2,364	5.03		175,249	2,357	5.41		133,556	1,712	5.13
Debt securities (2)	177,834	2,401	5.40		186,498	2,455	5.27		236,967	3,164	5.34
Loans and leases:
Residential mortgage	260,099	3,708	5.70		246,618	3,504	5.69		197,228	2,731	5.54
Credit card - domestic	56,235	1,777	12.67		57,720	1,887	13.26		64,980	2,168	13.38
Credit card - foreign	11,946	350	11.76		11,133	317	11.55		8,305	269	12.97
Home equity	94,267	1,779	7.57		89,559	1,679	7.60		75,894	1,378	7.28
Direct/Indirect consumer	64,227	1,354	8.46		60,157	1,221	8.23		48,003	910	7.59
Other consumer	8,101	187	9.28		8,809	204	9.36		10,804	294	10.95
Total consumer	494,875	9,155	7.41		473,996	8,812	7.50		405,214	7,750	7.66
Commercial - domestic (2)	166,529	3,048	7.34		163,620	2,933	7.27		148,445	2,619	7.08
Commercial real estate	36,788	687	7.49		36,117	672	7.55		36,749	680	7.41
Commercial lease financing	19,784	217	4.40		19,651	175	3.55		20,896	262	5.01
Commercial - foreign (2)	22,223	302	5.45		20,658	312	6.12		24,345	455	7.50
Total commercial	245,324	4,254	6.95		240,046	4,092	6.91		230,435	4,016	6.99
Total loans and leases	740,199	13,409	7.26		714,042	12,904	7.30		635,649	11,766	7.42
Other earning assets (2)	70,311	1,116	6.36		64,939	1,013	6.29		51,928	810	6.25
Total earning assets - excluding hedge impact	1,358,199	21,744	6.41		1,321,946	21,010	6.41		1,253,895	19,647	6.28
Net hedge income (expense) on assets		(117)				(121)				(54)
Total earning assets - including hedge impact	1,358,199	21,627	6.38		1,321,946	20,889	6.37		1,253,895	19,593	6.26
Cash and cash equivalents	33,689				33,623				35,070
Other assets, less allowance for loan and lease losses	169,761				165,849				167,039
Total assets	$1,561,649				$1,521,418				$1,456,004
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$33,039	$47	0.58	%	$32,773	$41	0.50	%	$35,681	$76	0.84	%
NOW and money market deposit accounts (2)	212,330	983	1.86		212,249	931	1.78		221,198	995	1.80
Consumer CDs and IRAs (2)	161,703	1,699	4.22		159,505	1,638	4.16		141,408	1,230	3.49
Negotiable CDs, public funds and other time deposits (2)	16,256	188	4.64		13,376	134	4.05		13,005	121	3.74
Total domestic interest-bearing deposits	423,328	2,917	2.76		417,903	2,744	2.66		411,292	2,422	2.36
Foreign interest-bearing deposits:
Banks located in foreign countries (2)	41,940	520	4.97		40,372	529	5.32		32,456	476	5.88
Governments and official institutions	17,868	224	5.02		14,482	178	4.98		13,428	155	4.63
Time, savings and other	40,335	433	4.31		39,534	380	3.90		37,178	276	2.98
Total foreign interest-bearing deposits	100,143	1,177	4.71		94,388	1,087	4.67		83,062	907	4.38
Total interest-bearing deposits	523,471	4,094	3.14		512,291	3,831	3.03		494,354	3,329	2.70
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (2)	419,260	5,650	5.40		414,104	5,466	5.35		408,734	5,021	4.93
Trading account liabilities	85,550	821	3.85		77,635	892	4.66		61,263	596	3.90
Long-term debt (2)	158,500	2,074	5.24		148,627	1,924	5.18		125,620	1,634	5.20
Total interest-bearing liabilities - excluding hedge impact	1,186,781	12,639	4.27		1,152,657	12,113	4.25		1,089,971	10,580	3.89
Net hedge (income) expense on liabilities		207				179				87
Total interest-bearing liabilities - including hedge impact	1,186,781	12,846	4.34		1,152,657	12,292	4.31		1,089,971	10,667	3.92
Noninterest-bearing sources:
Noninterest-bearing deposits	173,564				174,413				180,442
Other liabilities	67,753				60,760				58,218
Shareholders’ equity	133,551				133,588				127,373
Total liabilities and shareholders' equity	$1,561,649				$1,521,418				$1,456,004
Net interest spread			2.14				2.16				2.39
Impact of noninterest-bearing sources			0.54				0.54				0.51
Net interest income/yield on earning assets - excluding hedge impact		$9,105	2.68	%		$8,897	2.70	%		$9,067	2.90	%
Net impact of hedge income (expense)		(324)	(0.09)			(300)	(0.09)			(141)	(0.05)
Net interest income/yield on earning assets		$8,781	2.59	%		$8,597	2.61	%		$8,926	2.85	%
(1)    This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above. (2)    The following presents the impact of interest rate risk management derivatives on interest income and interest expense. Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
	Second Quarter 2007				First Quarter 2007				Second Quarter 2006
Time deposits placed and other short-term investments	$(10)				$(27)				$(13)
Federal funds sold and securities purchased under agreements to resell	(100)				(106)				(114)
Debt securities	(7)				(4)				(2)
Commercial - domestic	(9)				1				76
Commercial - foreign	17				18				1
Other earning assets	(8)				(3)				(2)
Net hedge income (expense) on assets	$(117)				$(121)				$(54)
Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:
NOW and money market deposit accounts	$4				$5				$1
Consumer CDs and IRAs	158				194				163
Negotiable CDs, public funds and other time deposits	3				2				2
Banks located in foreign countries	2				2				13
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings	(113)				(148)				(179)
Long-term debt	153				124				87
Net hedge (income) expense on liabilities	$207				$179				$87

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

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

Bank of America Corporation

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

(Dollars in millions)

	Six Months Ended June 30
	2007				2006 (1)
	Average     Balance	Interest Income/     Expense	Yield/     Rate		Average     Balance	Interest     Income/ Expense	Yield/     Rate
Earning assets
Time deposits placed and other short-term investments	$15,167	$357	4.75	%	$15,525	$307	3.99	%
Federal funds sold and securities purchased under agreements to resell	166,227	4,135	4.99		176,919	3,609	4.09
Trading account assets	181,804	4,721	5.21		133,459	3,335	5.01
Debt securities (2)	182,142	4,845	5.32		235,793	6,205	5.27
Loans and leases (3):
Residential mortgage	253,396	7,212	5.70		191,046	5,255	5.51
Credit card - domestic	56,973	3,664	12.97		66,566	4,348	13.17
Credit card - foreign	11,542	667	11.66		8,354	556	13.41
Home equity (4)	91,926	3,458	7.59		74,166	2,625	7.14
Direct/Indirect consumer	62,204	2,575	8.35		47,407	1,761	7.46
Other consumer (5)	8,452	391	9.32		10,581	566	10.77
Total consumer	484,493	17,967	7.46		398,120	15,111	7.63
Commercial - domestic	165,083	5,973	7.30		146,580	5,185	7.13
Commercial real estate (6)	36,454	1,359	7.52		36,713	1,312	7.20
Commercial lease financing	19,718	392	3.97		20,705	509	4.91
Commercial - foreign	21,445	649	6.10		23,745	883	7.50
Total commercial	242,700	8,373	6.95		227,743	7,889	6.98
Total loans and leases	727,193	26,340	7.29		625,863	23,000	7.40
Other earning assets	67,639	2,118	6.29		49,289	1,526	6.23
Total earning assets (7)	1,340,172	42,516	6.38		1,236,848	37,982	6.17
Cash and cash equivalents	33,656				34,964
Other assets, less allowance for loan and lease losses	167,816				164,486
Total assets	$1,541,644				$1,436,298
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$32,907	$88	0.54	%	$35,616	$152	0.86	%
NOW and money market deposit accounts	212,290	1,923	1.83		224,384	1,904	1.71
Consumer CDs and IRAs	160,610	3,689	4.63		138,256	2,570	3.75
Negotiable CDs, public funds and other time deposits	14,824	327	4.44		10,790	193	3.60
Total domestic interest-bearing deposits	420,631	6,027	2.89		409,046	4,819	2.38
Foreign interest-bearing deposits:
Banks located in foreign countries	41,160	1,053	5.16		31,292	913	5.88
Governments and official institutions	16,184	402	5.00		11,823	262	4.47
Time, savings and other	39,937	813	4.11		36,163	521	2.91
Total foreign interest-bearing deposits	97,281	2,268	4.70		79,278	1,696	4.32
Total interest-bearing deposits	517,912	8,295	3.23		488,324	6,515	2.69
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings	416,696	10,855	5.25		404,339	9,151	4.56
Trading account liabilities	81,615	1,713	4.23		56,889	1,113	3.94
Long-term debt	153,591	4,275	5.57		121,343	3,237	5.34
Total interest-bearing liabilities (7)	1,169,814	25,138	4.33		1,070,895	20,016	3.76
Noninterest-bearing sources:
Noninterest-bearing deposits	173,986				179,026
Other liabilities	64,275				57,124
Shareholders’ equity	133,569				129,253
Total liabilities and shareholders’ equity	$1,541,644				$1,436,298
Net interest spread			2.05	%			2.41	%
Impact of noninterest-bearing sources			0.55				0.50
Net interest income/yield on earning assets		$17,378	2.60	%		$17,966	2.91	%

(1) Interest income (FTE basis) for the six months ended June 30, 2006, does not include the cumulative tax charge resulting from a change in tax legislation relating to extraterritorial tax income and foreign sales corporation regimes. The FTE impact to net interest income and net interest yield on earning assets of this retroactive tax adjustment was a reduction of $270 million and 4 bps, respectively, for the six months ended June 30, 2006. Management has excluded this one-time impact to provide a more comparative basis of presentation for net interest income and net interest yield on earning assets on a FTE basis. The impact on any given future period is not expected to be material.

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

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

(4) Includes home equity loans of $14.5 billion and $8.5 billion for the six months ended June 30, 2007 and 2006.

(5) Includes consumer finance loans of $3.2 billion and $3.0 billion, and foreign consumer loans of $5.3 billion and $7.6 billion for the six months ended June 30, 2007 and 2006.

(6) Includes domestic commercial real estate loans of $35.8 billion and $36.0 billion for the six months ended June 30, 2007 and 2006.

(7) Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $238 million and $46 million in the six months ended June 30, 2007 and 2006. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $386 million and $223 million in the six months ended June 30, 2007 and 2006.

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

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

Bank of America Corporation

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

(Dollars in millions)

	Six Months Ended June 30
	2007				2006
	Average     Balance	Interest     Income/ Expense	Yield/      Rate		Average     Balance	Interest     Income/ Expense	Yield/      Rate
Earning assets
Time deposits placed and other short-term investments (2)	$15,167	$394	5.24	%	$15,525	$323	4.20	%
Federal funds sold and securities purchased under agreements to resell (2)	166,227	4,341	5.24		176,919	3,814	4.33
Trading account assets	181,804	4,721	5.21		133,459	3,335	5.01
Debt securities (2)	182,142	4,856	5.34		235,793	6,207	5.27
Loans and leases:
Residential mortgage	253,396	7,212	5.70		191,046	5,255	5.51
Credit card - domestic	56,973	3,664	12.97		66,566	4,348	13.17
Credit card - foreign	11,542	667	11.66		8,354	556	13.41
Home equity	91,926	3,458	7.59		74,166	2,625	7.14
Direct/Indirect consumer	62,204	2,575	8.35		47,407	1,761	7.46
Other consumer	8,452	391	9.32		10,581	566	10.77
Total consumer	484,493	17,967	7.46		398,120	15,111	7.63
Commercial - domestic (2)	165,083	5,981	7.31		146,580	4,998	6.87
Commercial real estate	36,454	1,359	7.52		36,713	1,312	7.20
Commercial lease financing	19,718	392	3.97		20,705	509	4.91
Commercial - foreign (2)	21,445	614	5.77		23,745	881	7.48
Total commercial	242,700	8,346	6.93		227,743	7,700	6.81
Total loans and leases	727,193	26,313	7.28		625,863	22,811	7.33
Other earning assets (2)	67,639	2,129	6.33		49,289	1,538	6.28
Total earning assets - excluding hedge impact	1,340,172	42,754	6.41		1,236,848	38,028	6.18
Net hedge income (expense) on assets		(238)				(46)
Total earning assets - including hedge impact	1,340,172	42,516	6.38		1,236,848	37,982	6.17
Cash and cash equivalents	33,656				34,964
Other assets, less allowance for loan and lease losses	167,816				164,486
Total assets	$1,541,644				$1,436,298
Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$32,907	$88	0.54	%	$35,616	$152	0.86	%
NOW and money market deposit accounts (2)	212,290	1,914	1.82		224,384	1,901	1.73
Consumer CDs and IRAs (2)	160,610	3,337	4.19		138,256	2,252	3.28
Negotiable CDs, public funds and other time deposits (2)	14,824	322	4.38		10,790	189	3.53
Total domestic interest-bearing deposits	420,631	5,661	2.71		409,046	4,494	2.23
Foreign interest-bearing deposits:
Banks located in foreign countries (2)	41,160	1,049	5.14		31,292	879	5.66
Governments and official institutions	16,184	402	5.00		11,823	262	4.47
Time, savings and other	39,937	813	4.11		36,163	521	2.91
Total foreign interest-bearing deposits	97,281	2,264	4.69		79,278	1,662	4.23
Total interest-bearing deposits	517,912	7,925	3.09		488,324	6,156	2.55
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings (2)	416,696	11,116	5.38		404,339	9,396	4.68
Trading account liabilities	81,615	1,713	4.23		56,889	1,113	3.94
Long-term debt (2)	153,591	3,998	5.21		121,343	3,128	5.16
Total interest-bearing liabilities - excluding hedge impact	1,169,814	24,752	4.26		1,070,895	19,793	3.73
Net hedge (income) expense on liabilities		386				223
Total interest-bearing liabilities - including hedge impact	1,169,814	25,138	4.33		1,070,895	20,016	3.76
Noninterest-bearing sources:
Noninterest-bearing deposits	173,986				179,026
Other liabilities	64,275				57,124
Shareholders’ equity	133,569				129,253
Total liabilities and shareholders’ equity	$1,541,644				$1,436,298
Net interest spread			2.15				2.45
Impact of noninterest-bearing sources			0.54				0.50
Net interest income/yield on earning assets - excluding hedge impact		$18,002	2.69	%		$18,235	2.95	%
Net impact of hedge income (expense)		(624)	(0.09)			(269)	(0.04)
Net interest income/yield on earning assets		$17,378	2.60	%		$17,966	2.91	%
(1)        This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk management derivatives is not material to the average balances presented above. (2)        The following presents the impact of interest rate risk management derivatives on interest income and interest expense. Interest income excludes the impact of interest rate risk management contracts, which increased (decreased) interest income on:
	Six Months Ended June 30
		2007				2006
Time deposits placed and other short-term investments		$(37)				$(16)
Federal funds sold and securities purchased under agreements to resell		(206)				(205)
Debt securities		(11)				(2)
Commercial - domestic		(8)				187
Commercial - foreign		35				2
Other earning assets		(11)				(12)
Net hedge income (expense) on assets		$(238)				$(46)
Interest expense excludes the impact of interest rate risk management contracts, which increased (decreased) interest expense on:
NOW and money market deposit accounts		$9				$3
Consumer CDs and IRAs		352				318
Negotiable CDs, public funds and other time deposits		5				4
Banks located in foreign countries		4				34
Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		(261)				(245)
Long-term debt		277				109
Net hedge (income) expense on liabilities		$386				$223

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

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

Bank of America Corporation

Business Segment View

Net Income

Six Months Ended June 30, 2007

Total Revenue, Net of Interest Expense ^{(1, 2, 3)}

Six Months Ended June 30, 2007

(1) Fully taxable-equivalent basis

(2) Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services, with a corresponding offset to All Other.

(3) Total revenue, net of interest expense for All Other was less than one percent of the Corporation’s total revenue, net of interest expense for the six months ended June 30, 2007.

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

Bank of America Corporation

Global Consumer and Small Business Banking Segment Results ^{(1, 2)}

(Dollars in millions; except as noted)

	Six Months Ended     June 30				Second     Quarter     2007		First     Quarter     2007		Fourth     Quarter     2006		Third     Quarter     2006		Second     Quarter     2006
	2007		2006
Net interest income (3)	$14,179		$14,059		$7,150		$7,029		$7,156		$7,027		$6,967
Noninterest income:
Card income	5,127		4,635		2,676		2,451		2,707		2,446		2,528
Service charges	2,865		2,539		1,488		1,377		1,394		1,410		1,349
Mortgage banking income	599		415		297		302		247		215		210
Gains (losses) on sales of debt securities	(1)		(1)		-		(1)		(1)		-		-
All other income	593		571		328		265		258		382		323
Total noninterest income	9,183		8,159		4,789		4,394		4,605		4,453		4,410
Total revenue, net of interest expense	23,362		22,218		11,939		11,423		11,761		11,480		11,377
Provision for credit losses (4)	5,505		3,708		3,094		2,411		2,777		2,049		1,807
Noninterest expense	9,700		9,119		4,969		4,731		4,849		4,709		4,508
Income before income taxes	8,157		9,391		3,876		4,281		4,135		4,722		5,062
Income tax expense (3)	3,003		3,462		1,417		1,586		1,526		1,736		1,858
Net income	$5,154		$5,929		$2,459		$2,695		$2,609		$2,986		$3,204
Net interest yield (3)	8.27	%	8.25	%	8.29	%	8.25	%	8.39	%	8.27	%	8.15	%
Return on average equity	16.67		18.42		15.80		17.56		16.64		18.84		20.14
Efficiency ratio (3)	41.52		41.04		41.62		41.42		41.23		41.02		39.62
Balance sheet (2)
Average
Total loans and leases	$312,701		$280,821		$317,246		$308,105		$299,615		$291,029		$282,390
Total earning assets (5)	345,803		343,753		346,045		345,558		338,577		337,045		343,093
Total assets (5)	401,026		396,434		401,425		400,622		393,419		393,002		396,054
Total deposits	326,647		334,413		326,741		326,552		327,962		332,578		336,105
Allocated equity	62,333		64,918		62,425		62,241		62,215		62,885		63,817
Period end
Total loans and leases	$324,452		$285,885		$324,452		$309,992		$307,661		$294,207		$285,885
Total earning assets (5)	344,765		337,138		344,765		349,737		339,604		340,133		337,138
Total assets (5)	402,195		396,150		402,195		407,697		398,313		398,226		396,150
Total deposits	326,978		338,827		326,978		334,968		329,245		332,844		338,827
Period end (in billions)
Mortgage servicing portfolio	$360.1		$313.0		$360.1		$345.1		$333.0		$323.3		$313.0

(1) Global Consumer and Small Business Banking has three primary businesses: Deposits, Card Services and Consumer Real Estate. In addition, ALM/Other includes the results of ALM activities and other consumer-related businesses (e.g., insurance).

(2) Presented on a managed basis, specifically Card Services. (See Exhibit A: Non-GAAP Reconciliations - Global Consumer and Small Business Banking - Reconciliation on page 41).

(3) Fully taxable-equivalent basis

(4) Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

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

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

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

Bank of America Corporation

Global Consumer and Small Business Banking Business Results

(Dollars in millions)

	Three Months Ended June 30, 2007
	Total (1)		Deposits (2)		Card     Services (1)			Consumer     Real Estate		ALM/     Other
Net interest income (3)	$7,150		$2,378		$4,044			$546		$182
Noninterest income:
Card income	2,676		539		2,135			2		-
Service charges	1,488		1,487		-			1		-
Mortgage banking income	297		-		-			297		-
Gains (losses) on sales of debt securities	-		-		-			-		-
All other income	328		-		251			10		67
Total noninterest income	4,789		2,026		2,386			310		67
Total revenue, net of interest expense	11,939		4,404		6,430			856		249
Provision for credit losses (4)	3,094		56		2,857			125		56
Noninterest expense	4,969		2,254		2,058			508		149
Income before income taxes	3,876		2,094		1,515			223		44
Income tax expense (3)	1,417		765		554			82		16
Net income	$2,459		$1,329		$961			$141		$28
Net interest yield (3)	8.29	%	3.03	%	7.91	%		2.07	%	n/m
Return on average equity	15.80		35.80		8.74			14.92		n/m
Efficiency ratio (3)	41.62		51.19		32.00			59.26		n/m
Average - total loans and leases	$317,246		n/m		$204,332			$101,780		n/m
Average - total deposits	326,741		$320,282		n/m			n/m		n/m
Period end - total assets (5)	402,195		336,373		241,890			113,215		n/m
	Three Months Ended June 30, 2006
	Total (1)		Deposits (2)		Card Services (1)			Consumer Real Estate		ALM/ Other
Net interest income (3)	$6,967		$2,372		$4,032			$478		$85
Noninterest income:
Card income	2,528		473		2,054			1		-
Service charges	1,349		1,348		-			1		-
Mortgage banking income	210		-		-			210		-
Gains (losses) on sales of debt securities	-		-		-			-		-
All other income	323		-		242			11		70
Total noninterest income	4,410		1,821		2,296			223		70
Total revenue, net of interest expense	11,377		4,193		6,328			701		155
Provision for credit losses (4)	1,807		30		1,733			15		29
Noninterest expense	4,508		2,126		1,883			413		86
Income before income taxes	5,062		2,037		2,712			273		40
Income tax expense (3)	1,858		748		997			100		13
Net income	$3,204		$1,289		$1,715			$173		$27
Net interest yield (3)	8.15	%	2.93	%	8.59		%	2.16	%	n/m
Return on average equity	20.14		35.63		15.02			22.87		n/m
Efficiency ratio (3)	39.62		50.70		29.76			58.94		n/m
Average - total loans and leases	$282,390		n/m		$187,898			$83,302		n/m
Average - total deposits	336,105		$329,902		n/m			n/m		n/m
Period end - total assets (5)	396,150		347,735		225,289			93,395		n/m

(1) Presented on a managed basis, specifically Card Services.

(2) For the three months ended June 30, 2007 and 2006, a total of $2.9 billion and $2.1 billion of deposits were migrated from Global Consumer and Small Business Banking to Global Wealth and Investment Management.

(3) Fully taxable-equivalent basis

(4) Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Consumer and Small Business Banking Business Results

(Dollars in millions)

	Six Months Ended June 30, 2007
	Total (1)			Deposits (2)		Card     Services (1)		Consumer     Real Estate		ALM/     Other
Net interest income (3)	$14,179			$4,745		$8,035		$1,070		$329
Noninterest income:
Card income	5,127			1,038		4,086		3		-
Service charges	2,865			2,862		-		3		-
Mortgage banking income	599			-		-		599		-
Gains (losses) on sales of debt securities	(1	)		-		-		-		(1	)
All other income	593			-		440		20		133
Total noninterest income	9,183			3,900		4,526		625		132
Total revenue, net of interest expense	23,362			8,645		12,561		1,695		461
Provision for credit losses (4)	5,505			94		5,156		155		100
Noninterest expense	9,700			4,411		4,062		953		274
Income before income taxes	8,157			4,140		3,343		587		87
Income tax expense (3)	3,003			1,524		1,231		216		32
Net income	$5,154			$2,616		$2,112		$371		$55
Net interest yield (3)	8.27		%	3.04	%	7.96	%	2.10	%	n/m
Return on average equity	16.67			35.39		9.67		20.29		n/m
Efficiency ratio (3)	41.52			51.03		32.34		56.22		n/m
Average - total loans and leases	$312,701			n/m		$202,758		$98,721		n/m
Average - total deposits	326,647			$320,612		n/m		n/m		n/m
Period end - total assets (5)	402,195			336,373		241,890		113,215		n/m
	Six Months Ended June 30, 2006
	Total (1)			Deposits (2)		Card     Services (1)		Consumer     Real Estate		ALM/     Other
Net interest income (3)	$14,059			$4,660		$8,170		$974		$255
Noninterest income:
Card income	4,635			901		3,730		4		-
Service charges	2,539			2,538		-		1		-
Mortgage banking income	415			-		-		415		-
Gains (losses) on sales of debt securities	(1	)		-		-		-		(1	)
All other income	571			-		427		23		121
Total noninterest income	8,159			3,439		4,157		443		120
Total revenue, net of interest expense	22,218			8,099		12,327		1,417		375
Provision for credit losses (4)	3,708			58		3,542		29		79
Noninterest expense	9,119			4,321		3,803		819		176
Income before income taxes	9,391			3,720		4,982		569		120
Income tax expense (3)	3,462			1,372		1,838		210		42
Net income	$5,929			$2,348		$3,144		$359		$78
Net interest yield (3)	8.25		%	2.91	%	8.76	%	2.23	%	n/m
Return on average equity	18.42			32.62		13.93		23.72		n/m
Efficiency ratio (3)	41.04			53.36		30.85		57.75		n/m
Average - total loans and leases	$280,821			n/m		$187,222		$82,372		n/m
Average - total deposits	334,413			$328,557		n/m		n/m		n/m
Period end - total assets (5)	396,150			347,735		225,289		93,395		n/m

(1) Presented on a managed basis, specifically Card Services.

(2) For the six months ended June 30, 2007 and 2006, a total of $6.4 billion and $5.3 billion of deposits were migrated from Global Consumer and Small Business Banking to Global Wealth and Investment Management.

(3) Fully taxable-equivalent basis

(4) Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Consumer and Small Business Banking Business Results: Customer Relationship View ⁽¹⁾

(Dollars in millions)

	Three Months Ended June 30, 2007			Three Months Ended June 30, 2006
	Total	Consumer	Mass Market and   Small Business	Total	Consumer	Mass Market and  Small Business
Net interest income (2)	$7,150	$6,253	$897	$6,967	$6,166	$801
Noninterest income	4,789	4,146	643	4,410	3,885	525
Total revenue, net of interest expense	11,939	10,399	1,540	11,377	10,051	1,326
Provision for credit losses (3)	3,094	2,634	460	1,807	1,636	171
Noninterest expense	4,969	4,511	458	4,508	4,095	413
Income before income taxes	3,876	3,254	622	5,062	4,320	742
Income tax expense (2)	1,417	1,189	228	1,858	1,586	272
Net income	$2,459	$2,065	$394	$3,204	$2,734	$470
	Six Months Ended June 30, 2007			Six Months Ended June 30, 2006
	Total	Consumer	Mass Market and   Small Business	Total	Consumer	Mass Market and  Small Business
Net interest income (2)	$14,179	$12,420	$1,759	$14,059	$12,511	$1,548
Noninterest income	9,183	7,978	1,205	8,159	7,143	1,016
Total revenue, net of interest expense	23,362	20,398	2,964	22,218	19,654	2,564
Provision for credit losses (3)	5,505	4,761	744	3,708	3,392	316
Noninterest expense	9,700	8,808	892	9,119	8,266	853
Income before income taxes	8,157	6,829	1,328	9,391	7,996	1,395
Income tax expense (2)	3,003	2,514	489	3,462	2,948	514
Net income	$5,154	$4,315	$839	$5,929	$5,048	$881

(1) Presented on a managed basis, specifically Card Services.

(2) Fully taxable-equivalent basis

(3) Represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

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

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

Bank of America Corporation

Global Consumer and Small Business Banking - Key Indicators

(Dollars in millions; except as noted)

	Six Months Ended June 30				Second Quarter         2007		First Quarter         2007		Fourth Quarter         2006		Third Quarter         2006		Second Quarter         2006
	2007		2006
Deposits Key Indicators
Average deposit balances
Checking	$125,451		$128,053		$125,771		$125,127		$124,441		$125,809		$128,737
Savings	29,882		32,129		30,029		29,732		29,889		31,058		32,303
MMS	63,352		73,929		62,554		64,159		66,066		69,049		72,242
CD’s & IRA’s	99,555		91,769		99,546		99,563		99,165		97,514		93,803
Foreign and other	2,372		2,677		2,382		2,364		2,330		2,600		2,817
Total average deposit balances	$320,612		$328,557		$320,282		$320,945		$321,891		$326,030		$329,902
Total balances migrated to Premier Banking and Investments	$6,408		$5,349		$2,857		$3,551		$3,667		$1,671		$2,111
Deposit spreads (excludes noninterest         costs)
Checking	4.25	%	4.18	%	4.27	%	4.24	%	4.23	%	4.19	%	4.18	%
Savings	3.74		3.39		3.71		3.77		3.70		3.45		3.40
MMS	3.39		2.64		3.36		3.42		3.25		2.87		2.76
CD’s & IRA’s	1.11		1.24		1.10		1.13		1.11		1.21		1.24
Foreign and other	4.34		4.26		4.28		4.41		4.27		4.23		4.25
Total deposit spreads	3.05		2.92		3.04		3.05		3.00		2.93		2.94
Net new retail checking (units in thousands)	1,204		1,304		717		487		363		744		701
Debit purchase volumes	$90,990		$81,115		$47,421		$43,569		$45,121		$42,790		$42,596
Online banking (end of period)
Active accounts (units in thousands)	22,190		19,208		22,190		21,813		20,552		19,913		19,208
Active billpay accounts (units in             thousands)	11,567		10,188		11,567		11,285		10,832		10,589		10,188
Card Services Key Indicators
Managed Card - US Consumer and         Business Card
Gross interest yield	12.84	%	12.53	%	12.82	%	12.85	%	12.98	%	12.85	%	12.52	%
Risk adjusted margin (1)	7.71		9.95		7.61		7.82		8.74		8.84		9.50
Loss rates	5.01		3.31		5.20		4.81		4.57		4.18		3.55
Average outstandings	$147,976		$144,051		$147,972		$147,980		$146,939		$145,518		$143,443
Ending outstandings	150,159		144,142		150,159		146,013		150,731		145,891		144,142
New account growth (in thousands)	4,567		4,485		2,432		2,135		2,488		2,516		2,328
Purchase volumes	$116,900		$113,324		$61,383		$55,517		$62,073		$60,662		$59,817
Delinquencies:
30 Day	5.24	%	4.73	%	5.24	%	5.44	%	5.49	%	5.14	%	4.73	%
90 Day	2.65		2.30		2.65		2.88		2.66		2.38		2.30
Merchant Acquiring Business
Processing volume	$174,345		$185,553		$91,517		$82,828		$95,173		$97,044		$97,229
Total transactions (units in thousands)	4,011		3,956		2,099		1,912		2,102		2,101		2,069
Consumer Real Estate Key Indicators
Mortgage servicing rights at fair value         period end balance	$3,269		$3,083		$3,269		$2,963		$2,869		$2,932		$3,083
Capitalized mortgage servicing rights         (% of loans serviced)	141	bps	139	bps	141	bps	127	bps	125	bps	127	bps	139	bps
Mortgage loans serviced for investors (in         billions)	$232		$221		$232		$234		$230		$230		$221
Global Consumer and Small Business         Banking
Mortgage production	$46,401		$36,448		$25,755		$20,646		$21,370		$19,095		$20,968
Home equity production	35,857		31,804		18,547		17,310		18,460		17,497		17,103
Total Corporation
Mortgage production	52,621		40,584		29,172		23,449		23,701		21,222		23,372
Home equity production	43,779		39,891		22,746		21,033		21,882		21,193		21,329

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

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

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

Bank of America Corporation

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with 22.2 million subscribers.

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

11.6 million active bill pay users paid $56.3 billion worth of bills this quarter. The number of customers who sign up and use Bank of America’s Bill Pay Service continues to far surpass that of any other financial institution.

Currently, approximately 375 companies are presenting 28.8 million e-bills per quarter.

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

Bank of America Corporation

Credit Card Data ⁽¹⁾

(Dollars in millions)

	Six Months Ended June 30				Second Quarter 2007		First Quarter 2007		Fourth Quarter 2006		Third Quarter 2006		Second Quarter 2006
	2007		2006
Loans
Period end
Held credit card outstandings	$69,241		$71,566		$69,241		$65,920		$72,194		$70,067		$71,566
Securitization impact	100,611		90,564		100,611		99,495		98,295		94,389		90,564
Managed credit card outstandings	$169,852		$162,130		$169,852		$165,415		$170,489		$164,456		$162,130
Average
Held credit card outstandings	$68,515		$74,920		$68,181		$68,853		$70,177		$71,963		$73,285
Securitization impact	98,966		86,805		99,388		98,539		95,815		92,175		88,032
Managed credit card outstandings	$167,481		$161,725		$167,569		$167,392		$165,992		$164,138		$161,317
Credit Quality
Charge-Offs $
Held net charge-offs	$1,787		$1,433		$893		$894		$963		$923		$780
Securitization impact	2,265		1,287		1,206		1,059		943		825		694
Managed credit card net losses	$4,052		$2,720		$2,099		$1,953		$1,906		$1,748		$1,474
Charge-Offs %
Held net charge-offs	5.26	%	3.86	%	5.25	%	5.27	%	5.44	%	5.09	%	4.27	%
Securitization impact	(0.38)		(0.47)		(0.23)		(0.54)		(0.88)		(0.86)		(0.60)
Managed credit card net losses	4.88	%	3.39	%	5.02	%	4.73	%	4.56	%	4.23	%	3.67	%
30+ Delinquency $
Held delinquency	$3,593		$3,874		$3,593		$3,660		$4,347		$4,234		$3,874
Securitization impact	5,034		3,831		5,034		5,144		4,815		4,152		3,831
Managed delinquency	$8,627		$7,705		$8,627		$8,804		$9,162		$8,386		$7,705
30+ Delinquency %
Held delinquency	5.19	%	5.41	%	5.19	%	5.55	%	6.02	%	6.04	%	5.41	%
Securitization impact	(0.11)		(0.66)		(0.11)		(0.23)		(0.65)		(0.94)		(0.66)
Managed delinquency	5.08	%	4.75	%	5.08	%	5.32	%	5.37	%	5.10	%	4.75	%
90+ Delinquency $
Held delinquency	$1,850		$1,919		$1,850		$1,986		$2,175		$2,036		$1,919
Securitization impact	2,480		1,826		2,480		2,633		2,261		1,860		1,826
Managed delinquency	$4,330		$3,745		$4,330		$4,619		$4,436		$3,896		$3,745
90+ Delinquency %
Held delinquency	2.67	%	2.68	%	2.67	%	3.01	%	3.01	%	2.91	%	2.68	%
Securitization impact	(0.12)		(0.37)		(0.12)		(0.22)		(0.41)		(0.54)		(0.37)
Managed delinquency	2.55	%	2.31	%	2.55	%	2.79	%	2.60	%	2.37	%	2.31	%

(1) Credit Card includes U.S. Consumer Card and foreign credit card. Does not include Business Credit Card.

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

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

Bank of America Corporation

Global Corporate and Investment Banking Segment Results ⁽¹⁾

(Dollars in millions)

	Six Months Ended June 30				Second Quarter 2007		First Quarter 2007		Fourth Quarter 2006		Third Quarter 2006		Second Quarter 2006
	2007		2006
Net interest income (2)	$5,030		$4,930		$2,618		$2,412		$2,503		$2,399		$2,441
Noninterest income:
Service charges	1,336		1,313		683		653		659		676		663
Investment and brokerage services	453		492		221		232		225		225		246
Investment banking income	1,524		1,166		821		703		756		554		644
Trading account profits	1,715		1,831		877		838		429		706		855
Gains (losses) on sales of debt securities	2		10		-		2		13		11		(4	)
All other income	1,077		857		594		483		479		400		470
Total noninterest income	6,107		5,669		3,196		2,911		2,561		2,572		2,874
Total revenue, net of interest expense	11,137		10,599		5,814		5,323		5,064		4,971		5,315
Provision for credit losses	156		47		41		115		(73	)	36		22
Noninterest expense	6,035		5,596		3,135		2,900		2,969		2,797		2,764
Income before income taxes	4,946		4,956		2,638		2,308		2,168		2,138		2,529
Income tax expense (2)	1,829		1,836		968		861		803		789		934
Net income	$3,117		$3,120		$1,670		$1,447		$1,365		$1,349		$1,595
Net interest yield (2)	1.53	%	1.71	%	1.56	%	1.50	%	1.52	%	1.54	%	1.65	%
Return on average equity	15.27		14.91		16.15		14.36		13.49		13.32		15.09
Efficiency ratio (2)	54.18		52.80		53.91		54.47		58.63		56.27		52.01
Balance sheet
Average
Total loans and leases	$250,913		$228,080		$253,895		$247,898		$239,385		$234,800		$231,073
Total trading-related assets	368,896		323,316		377,171		360,530		361,247		339,119		330,816
Total market-based earning assets (3)	416,928		347,170		425,647		408,113		405,811		376,010		357,617
Total earning assets (4)	661,832		582,075		673,184		650,353		652,272		619,097		595,013
Total assets (4)	747,997		664,968		762,794		733,036		732,017		696,904		681,000
Total deposits	214,307		190,142		220,063		208,488		204,395		194,728		193,620
Allocated equity	41,163		42,203		41,459		40,863		40,150		40,191		42,392
Period end
Total loans and leases	$257,537		$234,643		$257,537		$249,861		$242,700		$235,807		$234,643
Total trading-related assets	342,629		292,891		342,629		333,681		309,097		296,054		292,891
Total market-based earning assets (3)	386,187		322,574		386,187		384,294		347,624		337,740		322,574
Total earning assets (4)	637,880		566,750		637,880		628,831		599,326		581,733		566,750
Total assets (4)	728,498		646,861		728,498		713,868		683,264		664,748		646,861
Total deposits	221,771		191,661		221,771		210,055		211,979		191,552		191,661

(1) Global Corporate and Investment Banking has three primary businesses: Business Lending, Capital Markets and Advisory Services, and Treasury Services. In addition, ALM/Other includes the results of ALM activities and other Global Corporate and Investment Banking activities.

(2) Fully taxable-equivalent basis

(3) Total market-based earning assets represents market-based amounts included in the Capital Markets and Advisory Services business.

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

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

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

Bank of America Corporation

Global Corporate and Investment Banking Business Results

(Dollars in millions)

	Three Months Ended June 30, 2007
	Total		Business       Lending		Capital Markets   and Advisory Services (1)		Treasury Services		ALM/     Other
Net interest income (2)	$2,618		$1,106		$657		$927		$(72	)
Noninterest income:
Service charges	683		122		36		525		-
Investment and brokerage services	221		1		210		10		-
Investment banking income	821		-		820		-		1
Trading account profits	877		5		850		16		6
Gains (losses) on sales of debt securities	-		-		-		-		-
All other income	594		268		90		211		25
Total noninterest income	3,196		396		2,006		762		32
Total revenue, net of interest expense	5,814		1,502		2,663		1,689		(40	)
Provision for credit losses	41		34		(2	)	9		-
Noninterest expense	3,135		533		1,654		859		89
Income before income taxes	2,638		935		1,011		821		(129	)
Income tax expense (benefit) (2)	968		346		372		303		(53	)
Net income	$1,670		$589		$639		$518		$(76	)
Net interest yield (2)	1.56	%	1.91	%	n/m		2.63	%	n/m
Return on average equity	16.15		16.21		21.09	%	28.44		n/m
Efficiency ratio (2)	53.91		35.56		62.06		50.87		n/m
Average - total loans and leases	$253,895		$229,479		$18,560		$4,773		n/m
Average - total deposits	220,063		n/m		66,307		153,123		n/m
Period end - total assets (3)	728,498		250,751		435,121		163,076		n/m
	Three Months Ended June 30, 2006
	Total		Business Lending		Capital Markets and Advisory Services		Treasury Services		ALM/     Other
Net interest income (2)	$2,441		$1,158		$380		$960		$(57	)
Noninterest income:
Service charges	663		123		28		511		1
Investment and brokerage services	246		5		234		8		(1	)
Investment banking income	644		-		644		-		-
Trading account profits	855		19		802		13		21
Gains (losses) on sales of debt securities	(4	)	(4	)	(1	)	-		1
All other income	470		202		75		181		12
Total noninterest income	2,874		345		1,782		713		34
Total revenue, net of interest expense	5,315		1,503		2,162		1,673		(23	)
Provision for credit losses	22		20		8		(5	)	(1	)
Noninterest expense	2,764		522		1,388		827		27
Income before income taxes	2,529		961		766		851		(49	)
Income tax expense (benefit) (2)	934		368		283		315		(32	)
Net income	$1,595		$593		$483		$536		$(17	)
Net interest yield (2)	1.65	%	2.04	%	n/m		2.77	%	n/m
Return on average equity	15.09		14.23		17.26	%	31.19		n/m
Efficiency ratio (2)	52.01		34.71		64.21		49.44		n/m
Average - total loans and leases	$231,073		$214,315		$11,460		$4,425		n/m
Average - total deposits	193,620		n/m		45,857		147,192		n/m
Period end - total assets (3)	646,861		237,649		359,013		157,738		n/m

(1) Includes $22 million of net interest income on loans for which the fair value option has been elected and is not considered market-based income.

(2) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Corporate and Investment Banking Business Results

(Dollars in millions)

	Six Months Ended June 30, 2007
	Total		Business Lending		Capital Markets and Advisory Services (1)		Treasury     Services		ALM/       Other
Net interest income (2)	$5,030		$2,181		$1,141		$1,860		$(152	)
Noninterest income:
Service charges	1,336		247		63		1,026		-
Investment and brokerage services	453		1		431		21		-
Investment banking income	1,524		-		1,523		-		1
Trading account profits	1,715		2		1,672		28		13
Gains (losses) on sales of debt securities	2		-		2		-		-
All other income	1,077		419		191		377		90
Total noninterest income	6,107		669		3,882		1,452		104
Total revenue, net of interest expense	11,137		2,850		5,023		3,312		(48	)
Provision for credit losses	156		139		9		10		(2	)
Noninterest expense	6,035		1,049		3,162		1,704		120
Income before income taxes	4,946		1,662		1,852		1,598		(166	)
Income tax expense (benefit) (2)	1,829		615		685		591		(62	)
Net income	$3,117		$1,047		$1,167		$1,007		$(104	)
Net interest yield (2)	1.53	%	1.89	%	n/m		2.67	%	n/m
Return on average equity	15.27		14.61		19.81	%	27.73		n/m
Efficiency ratio (2)	54.18		36.85		62.94		51.45		n/m
Average - total loans and leases	$250,913		$228,978		$16,354		$4,534		n/m
Average - total deposits	214,307		n/m		62,674		151,036		n/m
Period end - total assets (3)	728,498		250,751		435,121		163,076		n/m
	Six Months Ended June 30, 2006
	Total		Business Lending		Capital Markets and Advisory Services		Treasury     Services		ALM/ Other
Net interest income (2)	$4,930		$2,320		$792		$1,907		$(89	)
Noninterest income:
Service charges	1,313		249		61		1,004		(1	)
Investment and brokerage services	492		9		467		15		1
Investment banking income	1,166		-		1,166		-		-
Trading account profits	1,831		34		1,748		25		24
Gains (losses) on sales of debt securities	10		5		4		-		1
All other income	857		245		233		348		31
Total noninterest income	5,669		542		3,679		1,392		56
Total revenue, net of interest expense	10,599		2,862		4,471		3,299		(33	)
Provision for credit losses	47		35		11		1		-
Noninterest expense	5,596		1,028		2,861		1,644		63
Income before income taxes	4,956		1,799		1,599		1,654		(96	)
Income tax expense (benefit) (2)	1,836		678		592		612		(46	)
Net income	$3,120		$1,121		$1,007		$1,042		$(50	)
Net interest yield (2)	1.71	%	2.07	%	n/m		2.75	%	n/m
Return on average equity	14.91		13.60		18.22	%	28.24		n/m
Efficiency ratio (2)	52.80		35.92		63.99		49.83		n/m
Average - total loans and leases	$228,080		$212,641		$10,443		$4,125		n/m
Average - total deposits	190,142		n/m		42,719		146,881		n/m
Period end - total assets (3)	646,861		237,649		359,013		157,738		n/m

(1) Includes $22 million of net interest income on loans for which the fair value option has been elected and is not considered market-based income.

(2) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Corporate and Investment Banking Business Results: Customer Relationship View

(Dollars in millions)

	Three Months Ended June 30, 2007
	Total		Commercial		Corporate and Investment Bank		Other
Net interest income (1)	$2,618		$1,651		$1,071		$(104	)
Noninterest income:
Service charges	683		321		362		-
Investment and brokerage services	221		8		213		-
Investment banking income	821		20		800		1
Trading account profits	877		8		863		6
Gains (losses) on sales of debt securities	-		-		-		-
All other income	594		463		119		12
Total noninterest income	3,196		820		2,357		19
Total revenue, net of interest expense	5,814		2,471		3,428		(85	)
Provision for credit losses	41		37		4		-
Noninterest expense	3,135		828		2,230		77
Income before income taxes	2,638		1,606		1,194		(162	)
Income tax expense (benefit) (1)	968		595		439		(66	)
Net income	$1,670		$1,011		$755		$(96	)
Net interest yield (1)	1.56	%	3.36	%	n/m		n/m
Return on average equity	16.15		25.57		16.75	%	n/m
Efficiency ratio (1)	53.91		33.48		65.08		n/m
Average - total loans and leases	$253,895		$192,864		$60,010		n/m
Average - total deposits	220,063		86,414		133,126		n/m
Period end - total assets (2)	728,498		213,837		494,753		n/m
	Three Months Ended June 30, 2006
	Total		Commercial		Corporate and Investment Bank		Other
Net interest income (1)	$2,441		$1,717		$831		$(107	)
Noninterest income:
Service charges	663		308		354		1
Investment and brokerage services	246		11		236		(1	)
Investment banking income	644		14		630		-
Trading account profits	855		22		812		21
Gains (losses) on sales of debt securities	(4	)	-		(4	)	-
All other income	470		399		62		9
Total noninterest income	2,874		754		2,090		30
Total revenue, net of interest expense	5,315		2,471		2,921		(77	)
Provision for credit losses	22		46		(17	)	(7	)
Noninterest expense	2,764		764		1,936		64
Income before income taxes	2,529		1,661		1,002		(134	)
Income tax expense (benefit) (1)	934		626		372		(64	)
Net income	$1,595		$1,035		$630		$(70	)
Net interest yield (1)	1.65	%	3.73	%	n/m		n/m
Return on average equity	15.09		25.25		13.75	%	n/m
Efficiency ratio (1)	52.01		30.90		66.24		n/m
Average - total loans and leases	$231,073		$181,113		$49,088		n/m
Average - total deposits	193,620		87,935		105,286		n/m
Period end - total assets (2)	646,861		203,336		424,400		n/m

(1) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Corporate and Investment Banking Business Results: Customer Relationship View

(Dollars in millions)

	Six Months Ended June 30, 2007
	Total		Commercial		Corporate and Investment Bank		Other
Net interest income (1)	$5,030		$3,265		$1,970		$(205	)
Noninterest income:
Service charges	1,336		626		710		-
Investment and brokerage services	453		17		436		-
Investment banking income	1,524		35		1,488		1
Trading account profits	1,715		6		1,696		13
Gains (losses) on sales of debt securities	2		-		2		-
All other income	1,077		825		192		60
Total noninterest income	6,107		1,509		4,524		74
Total revenue, net of interest expense	11,137		4,774		6,494		(131	)
Provision for credit losses	156		133		21		2
Noninterest expense	6,035		1,664		4,307		64
Income before income taxes	4,946		2,977		2,166		(197	)
Income tax expense (benefit) (1)	1,829		1,102		801		(74	)
Net income	$3,117		$1,875		$1,365		$(123	)
Net interest yield (1)	1.53	%	3.36	%	n/m		n/m
Return on average equity	15.27		24.04		15.43	%	n/m
Efficiency ratio (1)	54.18		34.86		66.32		n/m
Average - total loans and leases	$250,913		$191,645		$58,281		n/m
Average - total deposits	214,307		86,802		127,028		n/m
Period end - total assets (2)	728,498		213,837		494,753		n/m
	Six Months Ended June 30, 2006
	Total		Commercial		Corporate and Investment Bank		Other
Net interest income (1)	$4,930		$3,455		$1,693		$(218	)
Noninterest income:
Service charges	1,313		608		706		(1	)
Investment and brokerage services	492		20		471		1
Investment banking income	1,166		23		1,143		-
Trading account profits	1,831		38		1,769		24
Gains (losses) on sales of debt securities	10		-		10		-
All other income	857		700		142		15
Total noninterest income	5,669		1,389		4,241		39
Total revenue, net of interest expense	10,599		4,844		5,934		(179	)
Provision for credit losses	47		128		(74)		(7	)
Noninterest expense	5,596		1,520		3,967		109
Income before income taxes	4,956		3,196		2,041		(281	)
Income tax expense (benefit) (1)	1,836		1,194		757		(115	)
Net income	$3,120		$2,002		$1,284		$(166	)
Net interest yield (1)	1.71	%	3.81	%	n/m		n/m
Return on average equity	14.91		23.90		14.11	%	n/m
Efficiency ratio (1)	52.80		31.38		66.86		n/m
Average - total loans and leases	$228,080		$179,475		$47,729		n/m
Average - total deposits	190,142		89,031		100,744		n/m
Period end - total assets (2)	646,861		203,336		424,400		n/m

(1) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Corporate and Investment Banking - Business Lending Key Indicators

(Dollars in millions)

	Six Months Ended June 30				Second Quarter 2007		First Quarter 2007		Fourth Quarter 2006		Third Quarter 2006		Second Quarter 2006
	2007		2006
Business lending revenue, net of interest expense
Corporate lending (1)	$380		$343		$201		$179		$153		$177		$198
Commercial lending	2,089		2,155		1,100		989		1,041		1,015		1,121
Consumer indirect lending	381		364		201		180		176		183		184
Total revenue, net of interest expense	$2,850		$2,862		$1,502		$1,348		$1,370		$1,375		$1,503
Business lending margin
Corporate lending	1.20	%	1.33	%	1.18	%	1.22	%	1.33	%	1.24	%	1.36	%
Commercial lending	1.46		1.69		1.49		1.44		1.52		1.57		1.65
Consumer indirect lending	1.69		1.83		1.72		1.66		1.78		1.74		1.78
Provision for credit losses
Corporate lending	$3		$(86	)	$(4	)	$7		$(96	)	$(22	)	$(20	)
Commercial lending	(19	)	(16	)	(3	)	(16	)	(60	)	10		(22	)
Consumer indirect lending	155		137		41		114		70		65		62
Total provision for credit losses	$139		$35		$34		$105		$(86	)	$53		$20
Credit quality (% vs. loans) (2, 3, 4)
Criticized assets
Corporate lending	$770		$1,456		$770		$935		$1,297		$1,434		$1,456
	0.95	%	2.09	%	0.95	%	1.23	%	1.87	%	2.02	%	2.09	%
Commercial lending	$5,634		$4,626		$5,634		$5,509		$4,987		$5,175		$4,626
	3.13	%	2.65	%	3.13	%	3.09	%	2.80	%	2.94	%	2.65	%
Total criticized assets	$6,404		$6,082		$6,404		$6,444		$6,284		$6,609		$6,082
	2.45	%	2.49	%	2.45	%	2.54	%	2.54	%	2.68	%	2.49	%
Nonperforming assets
Corporate lending	$21		$165		$21		$29		$138		$143		$165
	0.06	%	0.51	%	0.06	%	0.08	%	0.40	%	0.42	%	0.51	%
Commercial lending	$688		$463		$688		$564		$487		$402		$463
	0.46	%	0.32	%	0.46	%	0.38	%	0.33	%	0.27	%	0.32	%
Total nonperforming assets	$709		$628		$709		$593		$625		$545		$628
	0.38	%	0.35	%	0.38	%	0.32	%	0.34	%	0.30	%	0.35	%
Average loans and leases by product
Commercial	$117,116		$109,452		$116,465		$117,775		$115,224		$112,472		$110,490
Leases	21,590		20,261		21,725		21,454		20,908		20,379		20,425
Foreign	13,828		11,969		14,049		13,604		13,110		12,623		12,186
Real estate	34,230		34,791		34,476		33,981		34,422		35,196		34,803
Consumer	40,145		33,880		40,792		39,490		35,539		35,752		34,156
Other	2,069		2,288		1,972		2,169		2,205		2,205		2,255
Total average loans and leases	$228,978		$212,641		$229,479		$228,473		$221,408		$218,627		$214,315
(1)Total corporate lending revenue	$380		$343		$201		$179		$153		$177		$198
Less: impact of credit mitigation	(14	)	(123	)	(3	)	(11	)	(63	)	(36	)	(39	)
Corporate lending revenues excluding credit mitigation	$394		$466		$204		$190		$216		$213		$237

(2) 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 credit exposure, including loans and leases, stand by letters of credit, and financial guarantees, derivative assets, and commercial letters of credit.

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

(4) Criticized assets related to the fair value option portfolio are not included. There are no nonperforming assets in the fair value portfolio.

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

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

Bank of America Corporation

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

(Dollars in millions)

	Six Months Ended June 30		Second Quarter 2007	First Quarter 2007	Fourth Quarter 2006	Third Quarter 2006	Second Quarter 2006
	2007	2006
Investment banking income
Advisory fees	$240	$129	$110	$130	$123	$85	$53
Debt underwriting	1,113	858	610	503	549	417	478
Equity underwriting	170	179	100	70	84	52	113
Total investment banking income	1,523	1,166	820	703	756	554	644
Sales and trading
Fixed income:
Liquid products	946	1,269	539	407	434	425	640
Credit products	803	438	326	477	146	237	140
Structured products	873	730	521	352	346	373	382
Total fixed income	2,622	2,437	1,386	1,236	926	1,035	1,162
Equity income	856	868	435	421	373	330	356
Total sales and trading	3,478	3,305	1,821	1,657	1,299	1,365	1,518
Total Capital Markets and Advisory
Services market-based revenue (1)	$5,001	$4,471	$2,641	$2,360	$2,055	$1,919	$2,162
Balance sheet (average)
Trading account securities	$178,364	$130,337	$185,202	$171,450	$163,842	$143,285	$130,317
Reverse repurchases	68,636	72,843	70,802	66,446	74,803	73,136	70,571
Securities borrowed	94,910	95,759	92,056	97,795	98,371	98,375	102,758
Derivative assets	24,362	22,591	26,641	22,057	21,437	22,040	25,259
Total trading-related assets	$366,272	$321,530	$374,701	$357,748	$358,453	$336,836	$328,905
Sales credits from secondary trading
Liquid products	561	515	284	277	249	226	261
Credit products	628	394	335	293	233	191	206
Structured products	430	327	217	213	168	162	164
Equities	587	335	303	284	195	192	186
Total sales credits	2,206	1,571	1,139	1,067	845	771	817
Volatility of product revenues - 1 std dev
Liquid products	$9.1	$6.3	$9.0	$9.1	$7.2	$7.8	$6.6
Credit products	6.2	3.7	6.3	6.0	2.9	2.5	3.6
Structured products	7.5	5.5	7.2	7.6	4.9	4.6	5.5
Equities	5.6	4.9	6.3	4.9	4.2	3.6	5.5
Total volatility	15.4	10.1	16.2	14.6	12.1	9.3	10.9

(1) Market-based revenue for the three and six months ended June 30, 2007 excludes $22 million of net interest income on loans for which the fair value option has been elected.

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

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

Bank of America Corporation

Global Corporate & Investment Banking Strategic Progress

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

(1) M&A Announced Advisor Rankings

Highlights

• Top 5 rankings in:

Syndicated loans

Leveraged loans

Investment grade debt

Asset-backed securities

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

Bank of America Corporation

Global Wealth and Investment Management Segment Results ⁽¹⁾

(Dollars in millions, except as noted)

	Six Months Ended June 30				Second Quarter 2007		First Quarter 2007		Fourth Quarter 2006		Third Quarter 2006		Second Quarter 2006
	2007		2006
Net interest income (2)	$1,884		$1,861		$958		$926		$924		$887		$922
Noninterest income:
Investment and brokerage services	1,882		1,666		972		910		889		828		852
All other income	130		155		78		52		86		63		79
Total noninterest income	2,012		1,821		1,050		962		975		891		931
Total revenue, net of interest expense	3,896		3,682		2,008		1,888		1,899		1,778		1,853
Provision for credit losses	9		(40	)	(14	)	23		2		-		(40	)
Noninterest expense	2,061		1,938		1,044		1,017		1,000		972		971
Income before income taxes	1,826		1,784		978		848		897		806		922
Income tax expense (2)	675		661		359		316		332		297		340
Net income	$1,151		$1,123		$619		$532		$565		$509		$582
Net interest yield (2)	3.18	%	3.62	%	3.17	%	3.19	%	3.34	%	3.41	%	3.57	%
Return on average equity	23.33		22.52		25.06		21.60		22.15		20.72		24.59
Efficiency ratio (2)	52.89		52.65		51.97		53.87		52.64		54.67		52.40
Balance sheet
Average
Total loans and leases	$66,908		$58,979		$67,964		$65,841		$63,935		$61,686		$59,803
Total earning assets (3)	119,384		103,552		121,095		117,654		109,763		103,313		103,441
Total assets (3)	126,908		111,105		128,563		125,235		117,323		110,787		110,989
Total deposits	116,615		101,140		118,255		114,958		106,325		100,916		101,251
Allocated equity	9,946		10,058		9,910		9,982		10,123		9,743		9,491
Period end
Total loans and leases	$69,217		$60,996		$69,217		$66,695		$65,535		$62,736		$60,996
Total earning assets (3)	121,833		102,035		121,833		120,725		117,376		104,620		102,035
Total assets (3)	129,544		109,759		129,544		128,547		125,324		112,401		109,759
Total deposits	118,973		100,360		118,973		118,125		113,569		102,251		100,360
Client assets
Assets under management	$566,267		$500,144		$566,267		$547,448		$542,977		$517,055		$500,144
Client brokerage assets (4)	213,711		186,798		213,711		209,106		203,799		193,699		186,798
Assets in custody	109,360		102,236		109,360		109,163		107,902		100,130		102,236
Less: Client brokerage assets and assets in custody included in assets under management	(80,784	)	(58,686	)	(80,784	)	(73,793	)	(67,509	)	(64,178	)	(58,686	)
Total net client assets	$808,554		$730,492		$808,554		$791,924		$787,169		$746,706		$730,492

(1) Global Wealth and Investment Management services clients through three primary businesses: The Private Bank, Columbia Management, and Premier Banking and Investments. In addition, ALM/Other primarily includes the results of ALM activities.

(2) Fully taxable-equivalent basis

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

(4) Client brokerage assets include non-discretionary brokerage and fee-based assets.

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

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

Bank of America Corporation

Global Wealth and Investment Management Business Results

(Dollars in millions)

	Three Months Ended June 30, 2007
	Total		Private     Bank		Columbia     Management		Premier Banking and     Investments (1)		ALM/     Other
Net interest income (2)	$958		$225		$2		$672		$59
Noninterest income:
Investment and brokerage services	972		248		444		233		47
All other income	78		13		25		36		4
Total noninterest income	1,050		261		469		269		51
Total revenue, net of interest expense	2,008		486		471		941		110
Provision for credit losses	(14	)	(12	)	-		(1	)	(1	)
Noninterest expense	1,044		300		281		416		47
Income before income taxes	978		198		190		526		64
Income tax expense (2)	359		73		70		195		21
Net income	$619		$125		$120		$331		$43
Net interest yield (2)	3.17	%	2.69	%	n/m		2.81	%	n/m
Return on average equity	25.06		35.90		29.58	%	83.98		n/m
Efficiency ratio (2)	51.97		61.67		59.71		44.29		n/m
Average - total loans and leases	$67,964		$33,666		n/m		$34,285		n/m
Average - total deposits	118,255		21,967		n/m		96,249		n/m
Period end - total assets (3)	129,544		35,096		$2,608		98,400		n/m
	Three Months Ended June 30, 2006
	Total		Private Bank		Columbia Management		Premier Banking and Investments (1)		ALM/ Other
Net interest income (2)	$922		$230		$(11	)	$644		$59
Noninterest income:
Investment and brokerage services	852		236		377		188		51
All other income	79		22		12		36		9
Total noninterest income	931		258		389		224		60
Total revenue, net of interest expense	1,853		488		378		868		119
Provision for credit losses	(40	)	(44	)	-		4		-
Noninterest expense	971		288		249		371		63
Income before income taxes	922		244		129		493		56
Income tax expense (2)	340		91		48		182		19
Net income	$582		$153		$81		$311		$37
Net interest yield (2)	3.57	%	3.06	%	n/m		3.04	%	n/m
Return on average equity	24.59		44.89		20.46	%	76.97		n/m
Efficiency ratio (2)	52.40		59.02		65.85		42.72		n/m
Average - total loans and leases	$59,803		$30,153		n/m		$29,627		n/m
Average - total deposits	101,251		15,879		n/m		85,309		n/m
Period end - total assets (3)	109,759		31,494		$2,885		86,087		n/m

(1) For the three months ended June 30, 2007 and 2006, a total of $2.9 billion and $2.1 billion of deposits were migrated to Global Wealth and Investment Management from Global Consumer and Small Business Banking.

(2) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Wealth and Investment Management Business Results

(Dollars in millions)

	Six Months Ended June 30, 2007
	Total		Private Bank		Columbia   Management		Premier Banking and   Investments (1)		ALM/     Other
Net interest income (2)	$1,884		$448		$3		$1,330		$103
Noninterest income:
Investment and brokerage services	1,882		471		867		447		97
All other income	130		24		26		71		9
Total noninterest income	2,012		495		893		518		106
Total revenue, net of interest expense	3,896		943		896		1,848		209
Provision for credit losses	9		9		-		-		-
Noninterest expense	2,061		609		554		826		72
Income before income taxes	1,826		325		342		1,022		137
Income tax expense (2)	675		120		126		378		51
Net income	$1,151		$205		$216		$644		$86
Net interest yield (2)	3.18	%	2.72	%	n/m		2.83	%	n/m
Return on average equity	23.33		29.15		26.28	%	81.15		n/m
Efficiency ratio (2)	52.89		64.66		61.83		44.69		n/m
Average - total loans and leases	$66,908		$33,192		n/m		$33,702		n/m
Average - total deposits	116,615		21,669		n/m		94,904		n/m
Period end - total assets (3)	129,544		35,096		$2,608		98,400		n/m
	Six Months Ended June 30, 2006
	Total		Private Bank		Columbia Management		Premier Banking and Investments (1)		ALM/ Other
Net interest income (2)	$1,861		$455		$(21	)	$1,271		$156
Noninterest income:
Investment and brokerage services	1,666		457		741		367		101
All other income	155		58		22		60		15
Total noninterest income	1,821		515		763		427		116
Total revenue, net of interest expense	3,682		970		742		1,698		272
Provision for credit losses	(40	)	(48	)	-		8		-
Noninterest expense	1,938		584		486		765		103
Income before income taxes	1,784		434		256		925		169
Income tax expense (2)	661		161		94		342		64
Net income	$1,123		$273		$162		$583		$105
Net interest yield (2)	3.62	%	3.05	%	n/m		3.02	%	n/m
Return on average equity	22.52		41.14		20.38	%	73.16		n/m
Efficiency ratio (2)	52.65		60.21		65.46		45.08		n/m
Average - total loans and leases	$58,979		$30,080		n/m		$28,878		n/m
Average - total deposits	101,140		15,856		n/m		85,218		n/m
Period end - total assets (3)	109,759		31,494		$2,885		86,087		n/m

(1) For the six months ended June 30, 2007 and 2006, a total of $6.4 billion and $5.3 billion of deposits were migrated to Global Wealth and Investment Management from Global Consumer and Small Business Banking.

(2) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation

Global Wealth and Investment Management - Key Indicators

(Dollars in millions, except as noted)

	Six Months Ended June 30				Second Quarter 2007		First Quarter 2007		Fourth Quarter 2006		Third Quarter 2006		Second Quarter 2006
	2007		2006
Investment and Brokerage Services
The Private Bank
Asset management fees	$457		$444		$240		$217		$211		$211		$228
Brokerage income	14		13		8		6		6		6		8
Total	$471		$457		$248		$223		$217		$217		$236
Columbia Management
Asset management fees	$865		$739		$443		$422		$416		$373		$376
Brokerage income	2		2		1		1		1		1		1
Total	$867		$741		$444		$423		$417		$374		$377
Premier Banking and Investments
Asset management fees	$126		$87		$66		$60		$53		$50		$47
Brokerage income	321		280		167		154		149		133		141
Total	$447		$367		$233		$214		$202		$183		$188
All Other
Asset management fees	$97		$101		$47		$50		$53		$54		$51
Brokerage income	-		-		-		-		-		-		-
Total	$97		$101		$47		$50		$53		$54		$51
Total Global Wealth and Investment Management
Asset management fees	$1,545		$1,371		$796		$749		$733		$688		$702
Brokerage income	337		295		176		161		156		140		150
Total investment and brokerage services	$1,882		$1,666		$972		$910		$889		$828		$852
Assets Under Management
Assets under management by business:
Private Bank	$144,054		$132,178		$144,054		$140,521		$139,172		$134,917		$132,178
Columbia Management	453,092		394,355		453,092		438,651		433,426		410,781		394,355
Global Products Group (1)	27,043		31,313		27,043		25,481		31,197		31,799		31,313
Premier Banking and Investments	22,183		16,116		22,183		20,312		18,640		16,804		16,116
Eliminations (2)	(81,653	)	(75,981	)	(81,653	)	(79,568	)	(81,435	)	(79,256	)	(75,981	)
International Wealth Management	1,548		2,163		1,548		2,051		1,977		2,010		2,163
Total assets under management	$566,267		$500,144		$566,267		$547,448		$542,977		$517,055		$500,144
Assets under management rollforward:
Beginning balance	$542,977		$482,394		$547,448		$542,977		$517,055		$500,144		$493,930
Net flows (1)	8,321		10,367		6,654		1,668		15,108		10,901		10,693
Market valuation/other	14,969		7,383		12,165		2,803		10,814		6,010		(4,479	)
Ending balance	$566,267		$500,144		$566,267		$547,448		$542,977		$517,055		$500,144
Assets under management mix:
Money market/other	$213,481		$192,325		$213,481		$208,482		$208,549		$198,385		$192,325
Fixed income	83,425		83,699		83,425		84,504		86,665		87,125		83,699
Equity	269,361		224,120		269,361		254,462		247,763		231,545		224,120
Total assets under management	$566,267		$500,144		$566,267		$547,448		$542,977		$517,055		$500,144
Client Brokerage Assets	$213,711		$186,798		$213,711		$209,106		$203,799		$193,699		$186,798
Premier Banking and Investments Metrics
Client facing associates
Number of client managers	2,498		2,196		2,498		2,525		2,420		2,292		2,196
Number of financial advisors	1,888		1,869		1,888		1,927		1,954		1,905		1,869
All other	1,094		1,085		1,094		1,218		1,207		1,093		1,085
Total client facing associates	5,480		5,150		5,480		5,670		5,581		5,290		5,150
Financial Advisor Productivity (3) (in thousands)	$216		$184		$114		$102		$98		$91		$95
Total client balances (4)	$292,455		$255,909		$292,455		$288,138		$279,659		$265,612		$255,909
Number of Households with Banking and Brokerage Relationships (in thousands)	256		235		256		248		244		238		235
Private Bank Metrics
Client facing associates	2,105		2,001		2,105		2,144		2,121		2,045		2,001
Total client balances (4)	$227,086		$203,761		$227,086		$222,414		$219,911		$206,777		$203,761
Columbia Management Performance Metrics
# of 4 or 5 Star Funds by Morningstar	40		37		40		38		35		36		37
% of Assets Under Management in 4 or 5 Star Rated Funds (5)	51	%	59	%	51	%	58	%	57	%	61	%	59	%

(1) First quarter 2007 balances were impacted by one large $5.4 billion outflow related to one large institutional client in the Global Products Group.

(2) The elimination of client brokerage assets and assets in custody that are also included in assets under management.

(3) Financial advisor productivity is defined as full service gross production divided by average number of total financial advisors.

(4) Client balances are defined as deposits, assets under management, client brokerage assets and other assets in custody.

(5) Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

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

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

Bank of America Corporation

All Other Results ⁽¹⁾

(Dollars in millions)

	Six Months Ended June 30				Second Quarter     2007		First Quarter     2007		Fourth Quarter     2006		Third Quarter     2006		Second Quarter     2006
	2007		2006
Net interest income (2)	$(3,715	)	$(2,884	)	$(1,945	)	$(1,770	)	$(1,628	)	$(1,419	)	$(1,404	)
Noninterest income:
Card income	1,397		2,129		676		721		826		841		961
Equity investment gains	2,615		1,148		1,719		896		1,031		687		577
Gains (losses) on sales of debt securities	63		(4	)	2		61		9		(480	)	(5	)
All other income	(313	)	(418	)	(255	)	(58	)	(120	)	634		(159	)
Total noninterest income	3,762		2,855		2,142		1,620		1,746		1,682		1,374
Total revenue, net of interest expense	47		(29	)	197		(150	)	118		263		(30	)
Provision for credit losses (3)	(2,625	)	(1,440	)	(1,311	)	(1,314	)	(1,136	)	(920	)	(784	)
Merger and restructuring charges	186		292		75		111		244		269		194
All other noninterest expense	208		696		(130	)	338		31		116		280
Income before income taxes	2,278		423		1,563		715		979		798		280
Income tax expense (2)	684		134		550		134		262		226		186
Net income	$1,594		$289		$1,013		$581		$717		$572		$94
Balance sheet
Average
Total loans and leases	$96,671		$57,983		$101,094		$92,198		$80,663		$85,962		$62,383
Total earning assets	213,153		207,468		217,875		208,381		198,849		242,911		212,348
Total assets	265,713		263,791		268,867		262,525		252,391		297,294		267,961
Total deposits	34,329		41,655		31,976		36,706		41,563		48,629		43,820
Period end
Total loans and leases	$107,429		$86,429		$107,429		$97,085		$90,594		$76,399		$86,429
Total earning assets	223,924		239,351		223,924		203,563		200,968		190,479		239,351
Total assets	274,122		292,423		274,122		252,045		252,836		273,836		292,423
Total deposits	31,687		46,017		31,687		29,653		38,704		39,258		46,017

(1) All Other consists of equity investment activities including Principal Investing, Corporate Investments and Strategic Investments, the residual impacts of the allowance for credit losses and the cost allocation processes, merger and restructuring charges, intersegment eliminations, and the results of certain businesses that are expected to be or have been sold or liquidated. All Other also includes certain amounts associated with ALM activities, including the residual 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 SFAS No. 133 “Accounting for Derivative instruments and Hedging Activities, as amended” hedge accounting treatment, certain gains or losses on sales of whole mortgage loans, and gains (losses) on sales of debt securities. In addition, All Other includes the offsetting securitization impact to present Global Consumer and Small Business Banking on a managed basis. (See Exhibit A: Non-GAAP Reconciliations - All Other - Reconciliation on page 42).

(2) Fully taxable-equivalent basis

(3) Represents the provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

Components of Equity Investment Gains

(Dollars in millions)

	Six Months Ended June 30		Second Quarter     2007	First Quarter     2007	Fourth Quarter     2006	Third Quarter     2006	Second Quarter     2006
	2007	2006
Principal Investing	$1,825	$743	$1,250	$575	$547	$604	$417
Corporate and Strategic Investments	790	405	469	321	484	83	160
Total equity investment gains included in All Other	2,615	1,148	1,719	896	1,031	687	577
Total equity investment gains included in the business segments	228	269	110	118	36	18	122
Total consolidated equity investment gains	$2,843	$1,417	$1,829	$1,014	$1,067	$705	$699

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

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

Bank of America Corporation

Outstanding Loans and Leases

(Dollars in millions)

	June 30         2007	March 31         2007	Increase         (Decrease)
Consumer
Residential mortgage	$269,721	$254,845	$14,876
Credit card - domestic	57,036	54,490	2,546
Credit card - foreign	12,205	11,430	775
Home equity	96,467	91,723	4,744
Direct/Indirect consumer	66,181	62,126	4,055
Other consumer (1)	8,041	8,189	(148	)
Total consumer	509,651	482,803	26,848
Commercial
Commercial - domestic	164,620	160,190	4,430
Commercial real estate (2)	36,950	36,022	928
Commercial lease financing	20,053	19,988	65
Commercial - foreign	23,755	20,771	2,984
Total commercial loans measured at historical cost	245,378	236,971	8,407
Commercial loans measured at fair value (3)	3,606	3,859	(253	)
Total commercial	248,984	240,830	8,154
Total loans and leases	$758,635	$723,633	$35,002

(1) Includes foreign consumer loans of $4.7 billion and $4.7 billion, and consumer finance loans of $3.3 billion and $3.5 billion at June 30, 2007 and March 31, 2007.

(2) Includes domestic commercial real estate loans of $36.2 billion and $35.4 billion, and foreign commercial real estate loans of $674 million and $606 million at June 30, 2007 and March 31, 2007.

(3) Certain commercial loans are measured at fair value in accordance with SFAS 159 and include commercial - domestic loans of $2.61 billion and $2.75 billion, commercial - foreign loans of $795 million and $932 million, and commercial real estate loans of $198 million and $179 million at June 30, 2007 and March 31, 2007.

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

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

Bank of America Corporation

Average Loans and Leases by Business Segment

(Dollars in millions)

	Second Quarter 2007
	Total Corporation	Global Consumer and Small Business Banking (1)	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other (1)
Consumer
Residential mortgage	$260,099	$32,564	$1,314	$25,249	$200,972
Credit card - domestic	56,235	138,429	-	-	(82,194	)
Credit card - foreign	11,946	29,140	-	-	(17,194	)
Home equity	94,267	69,087	944	20,715	3,521
Direct/Indirect consumer	64,227	25,289	40,797	3,010	(4,869	)
Other consumer	8,101	4,714	8	-	3,379
Total consumer	494,875	299,223	43,063	48,974	103,615
Commercial
Commercial - domestic	166,529	16,619	133,079	17,898	(1,067	)
Commercial real estate	36,788	101	35,670	996	21
Commercial lease financing	19,784	-	21,845	-	(2,061	)
Commercial - foreign	22,223	1,303	20,238	96	586
Total commercial	245,324	18,023	210,832	18,990	(2,521	)
Total loans and leases	$740,199	$317,246	$253,895	$67,964	$101,094
	First Quarter 2007
	Total Corporation	Global Consumer and Small Business Banking (1)	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other (1)
Consumer
Residential mortgage	$246,618	$30,465	$1,875	$24,201	$190,077
Credit card - domestic	57,720	139,389	-	-	(81,669	)
Credit card - foreign	11,133	28,003	-	-	(16,870	)
Home equity	89,559	65,185	1,098	20,014	3,262
Direct/Indirect consumer	60,157	23,543	39,493	3,063	(5,942	)
Other consumer	8,809	4,618	8	1	4,182
Total consumer	473,996	291,203	42,474	47,279	93,040
Commercial
Commercial - domestic	163,620	15,561	131,600	17,511	(1,052	)
Commercial real estate	36,117	93	35,026	957	41
Commercial lease financing	19,651	-	21,478	-	(1,827	)
Commercial - foreign	20,658	1,248	17,320	94	1,996
Total commercial	240,046	16,902	205,424	18,562	(842	)
Total loans and leases	$714,042	$308,105	$247,898	$65,841	$92,198
	Second Quarter 2006
	Total Corporation	Global Consumer and Small Business Banking (1)	Global Corporate and Investment Banking	Global Wealth and Investment Management	All Other (1)
Consumer
Residential mortgage	$197,228	$28,059	$2,850	$21,835	$144,484
Credit card - domestic	64,980	137,315	-	-	(72,335	)
Credit card - foreign	8,305	24,002	-	-	(15,697	)
Home equity	75,894	55,141	1,058	17,511	2,184
Direct/Indirect consumer	48,003	19,475	34,163	3,035	(8,670	)
Other consumer	10,804	3,837	9	1	6,957
Total consumer	405,214	267,829	38,080	42,382	56,923
Commercial
Commercial - domestic	148,445	13,209	121,895	16,495	(3,154	)
Commercial real estate	36,749	98	35,583	831	237
Commercial lease financing	20,896	-	20,447	-	449
Commercial - foreign	24,345	1,254	15,068	95	7,928
Total commercial	230,435	14,561	192,993	17,421	5,460
Total loans and leases	$635,649	$282,390	$231,073	$59,803	$62,383

(1) Global Consumer and Small Business Banking is presented on a managed basis with a corresponding offset recorded in All Other.

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

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

Bank of America Corporation

Commercial Credit Exposure by Industry ^{(1, 2)}

(Dollars in millions)

	Commercial Utilized				Total Commercial Committed
	June 30     2007	March 31     2007	Increase     (Decrease)		June 30     2007		March 31     2007		Increase     (Decrease)
Diversified financials	$35,965	$28,948	$7,017		$80,470		$71,353		$9,117
Real estate (3)	52,808	54,468	(1,660	)	77,118		77,959		(841	)
Government and public education	22,788	22,620	168		50,198		40,421		9,777
Retailing	28,009	27,558	451		45,001		43,633		1,368
Capital goods	18,295	18,482	(187	)	38,706		38,705		1
Banks	27,980	27,494	486		37,725		37,570		155
Consumer services	19,514	19,337	177		33,352		32,491		861
Healthcare equipment and services	16,535	16,592	(57	)	33,136		32,323		813
Materials	16,064	15,746	318		28,776		28,117		659
Individuals and trusts	17,898	17,868	30		27,041		27,471		(430	)
Commercial services and supplies	16,665	14,911	1,754		25,509		23,208		2,301
Food, beverage and tobacco	11,337	10,814	523		22,804		20,426		2,378
Energy	9,418	9,631	(213	)	18,996		18,608		388
Media	8,267	7,592	675		17,831		17,796		35
Utilities	5,145	6,073	(928	)	17,645		17,722		(77	)
Insurance	7,477	6,466	1,011		15,861		14,243		1,618
Transportation	10,505	10,785	(280	)	15,504		16,250		(746	)
Religious and social organizations	7,569	7,758	(189	)	10,042		10,293		(251	)
Consumer durables and apparel	4,763	4,980	(217	)	9,175		9,335		(160	)
Technology hardware and equipment	3,606	2,918	688		8,580		7,550		1,030
Telecommunication services	2,979	3,102	(123	)	7,807		7,725		82
Pharmaceuticals and biotechnology	3,516	2,925	591		7,125		6,132		993
Software and services	2,977	3,175	(198	)	7,046		7,237		(191	)
Automobiles and components	1,629	1,449	180		5,635		4,790		845
Food and staples retailing	2,202	1,878	324		4,489		4,957		(468	)
Household and personal products	622	699	(77	)	2,156		2,451		(295	)
Semiconductors and semiconductor equipment	612	720	(108	)	1,370		1,353		17
Other	7,205	5,608	1,597		7,611		5,961		1,650
Total commercial credit exposure by industry	$362,350	$350,597	$11,753		$656,709		$626,080		$30,629
Net credit default protection purchased on total commitments (4)					$(2,041	)	$(4,274	)

(1) Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale, commercial letters of credit, bankers’ acceptances, securitized assets, foreclosed properties and other collateral acquired. Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $7.3 billion and $8.7 billion at June 30, 2007 and March 31, 2007. In addition to cash collateral, derivative assets are also collateralized by $7.9 billion and $7.5 billion of primarily other marketable securities at June 30, 2007 and March 31, 2007 for which the credit risk has not been reduced.

(2) Total commercial utilized and total commercial committed exposure includes loans and unfunded commitments measured at fair value in accordance with SFAS 159 and is comprised of loans outstanding of $3.61 billion and $3.86 billion, issued letters of credit at notional value of $1.1 billion and $1.1 billion, and unfunded loan commitments at notional value of $20.6 billion and $20.4 billion at June 30, 2007 and March 31, 2007.

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

(4) A negative amount reflects net notional credit protection purchased.

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

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

Bank of America Corporation

Net Credit Default Protection by Maturity Profile

	June 30         2007		March 31         2007
Less than or equal to one year	17	%	2	%
Greater than one year and less than or equal to five years	37		55
Greater than five years	46		43
Total net credit default protection	100	%	100	%

Net Credit Default Protection by Credit Exposure Debt Rating ⁽¹⁾

(Dollars in millions)

	June 30, 2007				March 31, 2007
Ratings	Net Notional		Percent		Net Notional		Percent
AAA	$6		(0.3	)  %	$6		(0.1	)  %
AA	36		(1.8	)	(102	)	2.4
A	(598	)	29.3		(1,853	)	43.4
BBB	(459	)	22.5		(1,874	)	43.8
BB	(538	)	26.4		(524	)	12.3
B	(127	)	6.2		(147	)	3.4
CCC and below	(55	)	2.7		(85	)	2.0
NR (2)	(306	)	15.0		305		(7.2	)
Total net credit default protection	$(2,041	)	100.0	%	$(4,274	)	100.0	%

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

(2) In addition to unrated names, “NR” includes $(286) million and $301 million in net credit default swaps index positions at June 30, 2007 and March 31, 2007. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

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

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

Bank of America Corporation

Selected Emerging Markets ⁽¹⁾

(Dollars in millions)	Loans and Leases, and Loan Commitments	Other Financing (2)	Derivative Assets (3)	Securities/Other Investments (4)	Total Cross-border Exposure (5)	Local Country Exposure Net of Local Liabilities (6)	Total Emerging Markets Exposure June 30, 2007	Increase (Decrease) from March 31, 2007
By Region/Country
Asia Pacific
South Korea	$253	$578	$83	$3,030	$3,944	$ -	$3,944	$(234	)
China (7)	237	60	148	3,488	3,933	-	3,933	198
India	1,040	1,184	359	685	3,268	-	3,268	649
Singapore	267	324	89	448	1,128	-	1,128	310
Taiwan	304	81	80	62	527	505	1,032	264
Hong Kong	115	50	68	348	581	-	581	(120	)
Other Asia Pacific (8)	78	26	9	529	642	14	656	92
Total Asia Pacific	2,294	2,303	836	8,590	14,023	519	14,542	1,159
Latin America
Mexico (9)	991	365	19	2,990	4,365	-	4,365	486
Brazil (10)	249	138	4	2,696	3,087	208	3,295	24
Other Latin America (8)	247	261	13	130	651	210	861	(76	)
Total Latin America	1,487	764	36	5,816	8,103	418	8,521	434
Middle East and Africa
South Africa	1,080	13	4	129	1,226	-	1,226	974
Other Middle East and Africa (8)	500	190	77	182	949	-	949	13
Total Middle East and Africa	1,580	203	81	311	2,175	-	2,175	987
Central and Eastern Europe (8)	1	22	30	275	328	-	328	56
Total emerging markets exposure	$5,362	$3,292	$983	$14,992	$24,629	$937	$25,566	$2,636

(1) There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe excluding Greece. There was no emerging market exposure included in the portfolio measured at fair value in accordance with SFAS 159 at June 30, 2007 and March 31, 2007.

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

(3) Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $98 million and $58 million at June 30, 2007 and March 31, 2007. There are less than $1 million of other marketable securities collateralizing derivative assets at June 30, 2007. There were no other marketable securities collateralizing derivative assets at March 31, 2007.

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

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

(6) Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Local funding or liabilities are subtracted from local exposures as allowed by the FFIEC. Total amount of available local liabilities funding local country exposure at June 30, 2007 was $20.2 billion compared to $17.6 billion at March 31, 2007. Local liabilities at June 30, 2007 in Asia Pacific and Latin America were $19.0 billion and $1.2 billion, of which $7.4 billion were in Hong Kong, $6.1 billion in Singapore, $2.4 billion in South Korea, $1.1 billion in Mexico, $998 million in India and $783 million in China. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

(7) Securities/Other Investments include an investment of $3.0 billion in China Construction Bank.

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

(9) Securities/Other Investments include an investment of $2.7 billion in Grupo Financiero Santander Serfin.

(10) Securities/Other Investments include an investment of $2.6 billion in Banco Itaú Holding Financeira S.A.

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

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

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)

	June 30 2007		March 31 2007		December 31 2006		September 30 2006		June 30 2006
Residential mortgage	$867		$732		$660		$599		$537
Home equity (1)	496		363		291		211		167
Direct/Indirect consumer (1)	3		2		2		1		2
Other consumer	94		133		77		86		99
Total consumer	1,460		1,230		1,030		897		805
Commercial - domestic (2)	500		501		584		544		606
Commercial real estate	280		189		118		68		59
Commercial lease financing	27		21		42		35		43
Commercial - foreign	17		29		13		36		54
Total commercial	824		740		757		683		762
Total nonperforming loans and leases	2,284		1,970		1,787		1,580		1,567
Foreclosed properties	108		89		69		76		74
Total nonperforming assets (3, 4)	$2,392		$2,059		$1,856		$1,656		$1,641
Loans past due 90 days or more and still accruing (4, 5)	$2,798		$2,870		$3,056		$2,719		$2,433
Nonperforming assets / Total assets (6)	0.16	%	0.14	%	0.13	%	0.11	%	0.11	%
Nonperforming assets / Total loans, leases and foreclosed properties (6)	0.32		0.29		0.26		0.25		0.25
Nonperforming loans and leases / Total loans and leases (6)	0.30		0.27		0.25		0.24		0.23
Allowance for credit losses:
Allowance for loan and lease losses	$9,060		$8,732		$9,016		$8,872		$9,080
Reserve for unfunded lending commitments	376		374		397		388		395
Total allowance for credit losses	$9,436		$9,106		$9,413		$9,260		$9,475
Allowance for loan and lease losses / Total loans and leases measured at historical cost (6)	1.20	%	1.21	%	1.28	%	1.33	%	1.36	%
Allowance for loan and lease losses / Total nonperforming loans and leases measured at historical cost	397		443		505		562		579
Commercial criticized exposure (7)	$7,187		$7,119		$7,061		$7,257		$6,925
Commercial criticized exposure / Commercial utilized exposure (7)	2.17	%	2.24	%	2.20	%	2.29	%	2.19	%

(1) Home equity nonperforming loan balances of $42 million, $36 million and $33 million at December 31, 2006, September 30, 2006 and June 30, 2006, respectively, have been reclassified to home equity from direct/indirect to conform to the current period presentation.

(2) Includes nonperforming small business loans of $101 million, $97 million, $79 million, $53 million and $55 million at June 30, 2007, March 31, 2007, December 31, 2006, September 30, 2006 and June 30, 2006, respectively.

(3) Balances do not include nonperforming loans held-for-sale included in other assets of $73 million, $94 million, $80 million, $99 million and $114 million at June 30, 2007, March 31, 2007, December 31, 2006, September 30, 2006 and June 30, 2006, respectively.

(4) Balances do not include loans measured at fair value in accordance with SFAS 159. At June 30, 2007 and March 31, 2007 there were no nonperforming loans or loans past due 90 days or more and still accruing interest measured under fair value in accordance with SFAS 159.

(5) Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $23 million and $107 million at September 30, 2006 and June 30, 2006.

(6) Ratios do not include loans measured at fair value in accordance with SFAS 159 of $3.61 billion and $3.86 billion at June 30, 2007 and March 31, 2007.

(7) Criticized exposure and ratios exclude assets held-for-sale and exposure measured at fair value in accordance with SFAS 159. Including assets held-for-sale and commercial loans measured at fair value, the ratios would have been 2.29 percent and 2.44 percent at June 30, 2007 and March 31, 2007. Including assets held-for-sale, the ratios would have been 2.24 percent, 2.22 percent and 2.17 percent at December 31, 2006, September 30, 2006 and June 30, 2006, respectively.

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

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

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

Bank of America Corporation

Quarterly Net Charge-offs/Losses and Net Charge-off/Loss Ratios ⁽¹⁾

(Dollars in millions)

	Second Quarter 2007				First Quarter 2007				Fourth Quarter 2006 (2, 3)				Third Quarter 2006 (2, 3)				Second Quarter 2006 (2, 3)
Held Basis	Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent		Amount		Percent
Residential mortgage	$11		0.02	%	$6		0.01	%	$9		0.02	%	$6		0.01	%	$14		0.03	%
Credit card - domestic	807		5.76		806		5.66		884		5.86		853		5.42		723		4.46
Credit card - foreign	86		2.88		88		3.22		79		3.03		70		2.94		57		2.72
Home equity	28		0.12		17		0.08		19		0.09		11		0.06		12		0.06
Direct/Indirect consumer	241		1.50		235		1.59		190		1.41		152		1.17		103		0.86
Other consumer	100		4.96		92		4.22		101		3.78		85		3.03		75		2.80
Total consumer	1,273		1.03		1,244		1.06		1,282		1.14		1,177		1.07		984		0.97
Commercial - domestic (4)	228		0.55		184		0.46		123		0.31		111		0.29		50		0.14
Commercial real estate	(1	)	(0.01	)	3		0.03		1		0.01		2		0.02		1		-
Commercial lease financing	(11	)	(0.21	)	(1	)	(0.03	)	12		0.22		-		-		(17	)	(0.33	)
Commercial - foreign	6		0.10		(3	)	(0.05	)	(1	)	(0.02	)	(13	)	(0.21	)	5		0.08
Total commercial	222		0.36		183		0.31		135		0.22		100		0.17		39		0.07
Total net charge-offs	$1,495		0.81		$1,427		0.81		$1,417		0.82		$1,277		0.75		$1,023		0.65
By Business Segment
Global Consumer and Small Business Banking (5)	$2,662		3.37	%	$2,433		3.20	%	$2,336		3.09	%	$2,109		2.87	%	$1,759		2.50	%
Global Corporate and Investment Banking	74		0.12		102		0.17		85		0.14		82		0.14		38		0.07
Global Wealth and Investment Management	4		0.03		18		0.11		2		0.01		-		-		(43	)	(0.29	)
All Other (5)	(1,245	)	(4.94	)	(1,126	)	(4.95	)	(1,006	)	(4.95	)	(914	)	(4.22	)	(731	)	(4.71	)
Total net charge-offs	$1,495		0.81		$1,427		0.81		$1,417		0.82		$1,277		0.75		$1,023		0.65
Supplemental managed basis data
Credit card - domestic	$1,786		5.17	%	$1,651		4.80	%	$1,615		4.61	%	$1,479		4.23	%	$1,227		3.58	%
Credit card - foreign	313		4.31		302		4.37		291		4.30		269		4.17		247		4.13
Total credit card managed net losses	$2,099		5.02		$1,953		4.73		$1,906		4.56		$1,748		4.23		$1,474		3.67
Total commercial	222		0.36		183		0.31		135		0.22		107		0.18		52		0.09
Total managed losses	2,766		1.30		2,572		1.26		2,453		1.23		2,195		1.11		1,811		0.98

(1) Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases measured at historical cost during the period for each loan and lease category.

(2) Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on credit card - domestic $11 million, $10 million and $7 million, credit card - foreign $4 million, $5 million and $6 million, direct/indirect consumer $6 million, $5 million and $7 million, other consumer $4 million, $6 million and $3 million, and commercial - domestic $0, $0 and $4 million for the three months ended December 31, 2006, September 30, 2006 and June 30, 2006, respectively. The impact of SOP 03-3 was not material for the quarters ended June 30, 2007 and March 31, 2007. Refer to Exhibit A on page 43 for a reconciliation of net charge-offs and net charge-off ratios to net charge-offs and net charge-off ratios excluding the impact of SOP 03-3.

(3) Historical ratios have been adjusted for home equity and direct/indirect consumer due to the reclassification of home equity loan balances from direct/indirect to home equity. The impact on net charge-offs was not material.

(4) Includes small business net charge-offs of $196 million, $159 million, $115 million, $99 million and $83 million for the three months ended June 30, 2007, March 31, 2007, December 31, 2006, September 30, 2006 and June 30, 2006, or 5.23 percent, 4.59 percent, 3.44 percent, 3.16 percent and 2.84 percent of average outstanding held small business loans, respectively. Excluding the small business portfolio, the net charge-off ratio for commercial - domestic loans would have been 0.08 percent, 0.07 percent, 0.02 percent, 0.03 percent and (0.09) percent for the three months ended June 30, 2007, March 31, 2007, December 31, 2006, September 30, 2006 and June 30, 2006, respectively.

(5) Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services. The securitization offset is included within All Other.

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

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

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

Bank of America Corporation

Year-to-Date Net Charge-offs/Losses and Net Charge-off/Loss Ratios ⁽¹⁾

(Dollars in millions)

	Six Months Ended June 30
	2007				2006(2, 3)
Held Basis	Amount		Percent		Amount		Percent
Residential mortgage	$17		0.01	%	$24		0.03	%
Credit card - domestic	1,613		5.71		1,357		4.11
Credit card - foreign	174		3.04		76		1.83
Home equity	45		0.10		21		0.06
Direct/Indirect consumer	476		1.54		182		0.77
Other consumer	192		4.58		117		2.25
Total consumer	2,517		1.05		1,777		0.90
Commercial - domestic (4)	412		0.50		102		0.14
Commercial real estate	2		0.01		-		-
Commercial lease financing	(12	)	(0.12	)	(40	)	(0.39	)
Commercial - foreign	3		0.03		6		0.05
Total commercial	405		0.34		68		0.06
Total net charge-offs	$2,922		0.81		$1,845		0.59
By Business Segment:
Global Consumer and Small Business Banking (5)	$5,095		3.29	%	$3,177		2.28	%
Global Corporate and Investment Banking	176		0.14		80		0.07
Global Wealth and Investment Management	22		0.07		(43	)	(0.15	)
All Other (5)	(2,371	)	(4.95	)	(1,369	)	(4.76	)
Total net charge-offs	$2,922		0.81		$1,845		0.59
Supplemental managed basis data
Credit card - domestic	$3,437		4.99	%	$2,300		3.35	%
Credit card - foreign	615		4.34		420		3.62
Total credit card managed net losses	$4,052		4.88		$2,720		3.39
Total commercial	405		0.34		92		0.08
Total managed losses	5,338		1.28		3,292		0.91

(1) Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases measured at historical cost during the period for each loan and lease category.

(2) Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on credit card - domestic $78 million, credit card - foreign $44 million, direct/indirect consumer $67 million, other consumer $31 million and commercial - domestic $17 million for the six months ended June 30, 2006.

The impact of SOP 03-3 was not material for the six months ended June 30, 2007. Refer to Exhibit A on page 43 for a reconciliation of net charge-offs and net charge-off ratios to net charge-offs and net charge-off ratios excluding the impact of SOP 03-3.

(3) Historical ratios have been adjusted for home equity and direct/indirect consumer due to the reclassification of home equity loan balances from direct/indirect to home equity. The impact on net charge-offs was not material.

(4) Includes small business net charge-offs of $355 million and $147 million for the six months ended June 30, 2007 and 2006, or 4.92 percent and 2.65 percent of average outstanding held small business loans. Excluding the small business portfolio, the net charge-off ratio for commercial - domestic loans would have been 0.08 percent and (0.07) percent for the six months ended June 30, 2007 and 2006.

(5) Global Consumer and Small Business Banking is presented on a managed basis, specifically Card Services. The securitization offset is included within All Other.

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

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

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

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation

Global Consumer and Small Business Banking - Reconciliation

(Dollars in millions)

	Six Months Ended June 30, 2007						Six Months Ended June 30, 2006						Second Quarter 2007
	Managed Basis (1)		Securitization Impact (2)		Held Basis		Managed Basis (1)		Securitization Impact (2)		Held Basis		Managed Basis (1)	Securitization Impact (2)		Held Basis
Net interest income (3)	$14,179		$(3,871	)	$10,308		$14,059		$(3,792	)	$10,267		$7,150	$(1,981	)	$5,169
Noninterest income:
Card income	5,127		1,632		6,759		4,635		2,538		7,173		2,676	793		3,469
Service charges	2,865		-		2,865		2,539		-		2,539		1,488	-		1,488
Mortgage banking income	599		-		599		415		-		415		297	-		297
Gains (losses) on sales of debt securities	(1	)	-		(1	)	(1	)	-		(1	)	-	-		-
All other income	593		(151	)	442		571		(177	)	394		328	(74	)	254
Total noninterest income	9,183		1,481		10,664		8,159		2,361		10,520		4,789	719		5,508
Total revenue, net of interest expense	23,362		(2,390	)	20,972		22,218		(1,431	)	20,787		11,939	(1,262	)	10,677
Provision for credit losses	5,505		(2,390	)	3,115		3,708		(1,431	)	2,277		3,094	(1,262	)	1,832
Noninterest expense	9,700		-		9,700		9,119		-		9,119		4,969	-		4,969
Income before income taxes	8,157		-		8,157		9,391		-		9,391		3,876	-		3,876
Income tax expense (3)	3,003		-		3,003		3,462		-		3,462		1,417	-		1,417
Net income	$5,154		$-		$5,154		$5,929		$-		$5,929		$2,459	$-		$2,459
Balance sheet
Average - total loans and leases	$312,701		$(101,841	)	$210,860		$280,821		$(93,870	)	$186,951		$317,246	$(101,905	)	$215,341
Period end - total loans and leases	324,452		(102,752	)	221,700		285,885		(96,848	)	189,037		324,452	(102,752	)	221,700

	First Quarter 2007						Fourth Quarter 2006						Third Quarter 2006
	Managed Basis (1)		Securitization Impact (2)		Held Basis		Managed Basis (1)		Securitization Impact (2)		Held Basis		Managed Basis (1)	Securitization Impact (2)		Held Basis
Net interest income (3)	$7,029		$(1,890	)	$5,139		$7,156		$(1,929	)	$5,227		$7,027	$(1,872	)	$5,155
Noninterest income:
Card income	2,451		839		3,290		2,707		996		3,703		2,446	1,032		3,478
Service charges	1,377		-		1,377		1,394		-		1,394		1,410	-		1,410
Mortgage banking income	302		-		302		247		-		247		215	-		215
Gains (losses) on sales of debt securities	(1	)	-		(1	)	(1	)	-		(1	)	-	-		-
All other income	265		(77	)	188		258		(90	)	168		382	(68	)	314
Total noninterest income	4,394		762		5,156		4,605		906		5,511		4,453	964		5,417
Total revenue, net of interest expense	11,423		(1,128	)	10,295		11,761		(1,023	)	10,738		11,480	(908	)	10,572
Provision for credit losses	2,411		(1,128	)	1,283		2,777		(1,023	)	1,754		2,049	(908	)	1,141
Noninterest expense	4,731		-		4,731		4,849		-		4,849		4,709	-		4,709
Income before income taxes	4,281		-		4,281		4,135		-		4,135		4,722	-		4,722
Income tax expense (3)	1,586		-		1,586		1,526		-		1,526		1,736	-		1,736
Net income	$2,695		$-		$2,695		$2,609		$-		$2,609		$2,986	$-		$2,986
Balance sheet
Average - total loans and leases	$308,105		$(101,776	)	$206,329		$299,615		$(99,765	)	$199,850		$291,029	$(97,371	)	$193,658
Period end - total loans and leases	309,992		(102,363	)	207,629		307,661		(101,865	)	205,796		294,207	(98,683	)	195,524
	Second Quarter 2006
	Managed Basis (1)		Securitization Impact (2)		Held Basis
Net interest income (3)	$6,967		$(1,846	)	$5,121
Noninterest income:
Card income	2,528		1,136		3,664
Service charges	1,349		-		1,349
Mortgage banking income	210		-		210
Gains (losses) on sales of debt securities	-		-		-
All other income	323		(67	)	256
Total noninterest income	4,410		1,069		5,479
Total revenue, net of interest expense	11,377		(777	)	10,600
Provision for credit losses	1,807		(777	)	1,030
Noninterest expense	4,508		-		4,508
Income before income taxes	5,062		-		5,062
Income tax expense (3)	1,858		-		1,858
Net income	$3,204		$-		$3,204
Balance sheet
Average - total loans and leases	$282,390		$(94,952	)	$187,438
Period end - total loans and leases	285,885		(96,848	)	189,037

(1) Provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

(2) The securitization impact on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3) Fully taxable-equivalent basis

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

The Corporation reports its Global Consumer and Small Business Banking’s results, specifically Card Services, on a managed basis. This basis of presentation excludes the Corporation’s securitized mortgage and home equity portfolios for which the Corporation retains servicing. Reporting on a managed basis is consistent with the way that management as well as analysts evaluate the results of Global Consumer and Small Business Banking. Managed basis assumes that loans that have been securitized were not sold and presents earnings on these loans in a manner similar to the way loans that have not been sold (i.e., held loans) are presented. Loan securitization is an alternative funding process that is used by the Corporation to diversify funding sources. Loan securitization removes loans from the Consolidated Balance Sheet through the sale of loans to an off-balance sheet qualified special purpose entity which is excluded from the Corporation’s Consolidated Financial Statements in accordance with generally accepted accounting principles (GAAP).

The performance of the managed portfolio is important in understanding Global Consumer and Small Business Banking’s and Card Services’ results as it demonstrates the results of the entire portfolio serviced by the business. Securitized loans continue to be serviced by the business and are subject to the same underwriting standards and ongoing monitoring as held loans. In addition, retained excess servicing income is exposed to similar credit risk and repricing of interest rates as held loans. Global Consumer and Small Business Banking’s managed income statement line items differ from a held basis reported as follows:

• Managed net interest income includes Global Consumer and Small Business Banking’s net interest income on held loans and interest income on the securitized loans less the internal funds transfer pricing allocation related to securitized loans.

• Managed noninterest income includes Global Consumer and Small Business Banking’s noninterest income on a held basis less the reclassification of certain components of card income (e.g., excess servicing income) to record managed net interest income and provision for credit losses. Noninterest income, both on a held and managed basis, also includes the impact of adjustments to the interest-only strip that are recorded in card income as management continues to manage this impact within Global Consumer and Small Business Banking.

• Provision for credit losses represents the provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.

All of these securitization adjustments relate to the Card Services’ business within Global Consumer and Small Business Banking.

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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation

All Other - Reconciliation

(Dollars in millions)

	Six Months Ended June 30, 2007						Six Months Ended June 30, 2006						Second Quarter 2007
	Reported Basis (1)		Securitization Offset (2)		As Adjusted		Reported Basis (1)		Securitization Offset (2)		As Adjusted		Reported Basis (1)		Securitization Offset (2)		As Adjusted
Net interest income (3)	$(3,715	)	$3,871		$156		$(2,884	)	$3,792		$908		$(1,945	)	$1,981		$36
Noninterest income:
Card income	1,397		(1,632	)	(235	)	2,129		(2,538	)	(409	)	676		(793	)	(117	)
Equity investment gains	2,615		-		2,615		1,148		-		1,148		1,719		-		1,719
Gains (losses) on sales of debt securities	63		-		63		(4	)	-		(4	)	2		-		2
All other income	(313	)	151		(162	)	(418	)	177		(241	)	(255	)	74		(181	)
Total noninterest income	3,762		(1,481	)	2,281		2,855		(2,361	)	494		2,142		(719	)	1,423
Total revenue, net of interest expense	47		2,390		2,437		(29	)	1,431		1,402		197		1,262		1,459
Provision for credit losses	(2,625	)	2,390		(235	)	(1,440	)	1,431		(9	)	(1,311	)	1,262		(49	)
Merger and restructuring charges	186		-		186		292		-		292		75		-		75
All other noninterest expense	208		-		208		696		-		696		(130	)	-		(130	)
Income before income taxes	2,278		-		2,278		423		-		423		1,563		-		1,563
Income tax expense (3)	684		-		684		134		-		134		550		-		550
Net income	$1,594		$-		$1,594		$289		$-		$289		$1,013		$-		$1,013
Balance sheet
Average - total loans and leases	$96,671		$101,841		$198,512		$57,983		$93,870		$151,853		$101,094		$101,905		$202,999
Period end - total loans and leases	107,429		102,752		210,181		86,429		96,848		183,277		107,429		102,752		210,181
	First Quarter 2007						Fourth Quarter 2006						Third Quarter 2006
	Reported Basis (1)		Securitization Offset (2)		As Adjusted		Reported Basis (1)		Securitization Offset (2)		As Adjusted		Reported Basis (1)		Securitization Offset (2)		As Adjusted
Net interest income (3)	$(1,770	)	$1,890		$120		$(1,628	)	$1,929		$301		$(1,419	)	$1,872		$453
Noninterest income:
Card income	721		(839	)	(118	)	826		(996	)	(170	)	841		(1,032	)	(191	)
Equity investment gains	896		-		896		1,031		-		1,031		687		-		687
Gains (losses) on sales of debt securities	61		-		61		9		-		9		(480	)	-		(480	)
All other income	(58	)	77		19		(120	)	90		(30	)	634		68		702
Total noninterest income	1,620		(762	)	858		1,746		(906	)	840		1,682		(964	)	718
Total revenue, net of interest expense	(150	)	1,128		978		118		1,023		1,141		263		908		1,171
Provision for credit losses	(1,314	)	1,128		(186	)	(1,136	)	1,023		(113	)	(920	)	908		(12	)
Merger and restructuring charges	111		-		111		244		-		244		269		-		269
All other noninterest expense	338		-		338		31		-		31		116		-		116
Income before income taxes	715		-		715		979		-		979		798		-		798
Income tax expense (3)	134		-		134		262		-		262		226		-		226
Net income	$581		$-		$581		$717		$-		$717		$572		$-		$572
Balance sheet
Average - total loans and leases	$92,198		$101,776		$193,974		$80,663		$99,765		$180,428		$85,962		$97,371		$183,333
Period end - total loans and leases	97,085		102,363		199,448		90,594		101,865		192,459		76,399		98,683		175,082
	Second Quarter 2006
	Reported Basis (1)		Securitization Offset (2)		As Adjusted
Net interest income (3)	$(1,404	)	$1,846		$442
Noninterest income:
Card income	961		(1,136	)	(175	)
Equity investment gains	577		-		577
Gains (losses) on sales of debt securities	(5	)	-		(5	)
All other income	(159	)	67		(92	)
Total noninterest income	1,374		(1,069	)	305
Total revenue, net of interest expense	(30	)	777		747
Provision for credit losses	(784	)	777		(7	)
Merger and restructuring charges	194		-		194
All other noninterest expense	280		-		280
Income before income taxes	280		-		280
Income tax expense (3)	186		-		186
Net income	$94		$-		$94
Balance sheet
Average - total loans and leases	$62,383		$94,952		$157,335
Period end - total loans and leases	86,429		96,848		183,277

(1) Provision for credit losses represents the provision for credit losses in All Other combined with the Global Consumer and Small Business Banking securitization offset.

(2) The securitization offset on net interest income is on a funds transfer pricing methodology consistent with the way funding costs are allocated to the businesses.

(3) Fully taxable-equivalent basis

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

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

Exhibit A: Non-GAAP Reconciliations - continued

Reconciliation of Net Charge-offs and Net Charge-off Ratios to Net Charge-offs and Net Charge-off Ratios Excluding the Impact of SOP 03-3 ^{(1, 2)}

Net Charge-offs and Net Charge-off Ratios As Reported

	Six Months Ended June 30, 2006					Fourth Quarter 2006					Third Quarter 2006					Second Quarter 2006
			Average Outstanding					Average Outstanding					Average Outstanding					Average Outstanding
(Dollars in millions)	Amount		Loans and Leases	Percent (3)		Amount		Loans and Leases	Percent (3)		Amount		Loans and Leases	Percent (3)		Amount		Loans and Leases	Percent (3)
Residential mortgage	$24		$191,046	0.03	%	$9		$225,985	0.02	%	$6		$222,889	0.01	%	$14		$197,228	0.03	%
Credit card - domestic	1,357		66,566	4.11		884		59,802	5.86		853		62,508	5.42		723		64,980	4.46
Credit card - foreign	76		8,354	1.83		79		10,375	3.03		70		9,455	2.94		57		8,305	2.72
Home equity	21		74,166	0.06		19		84,904	0.09		11		79,899	0.06		12		75,894	0.06
Direct/Indirect consumer	182		47,407	0.77		190		53,481	1.41		152		51,536	1.17		103		48,003	0.86
Other consumer	117		10,581	2.25		101		10,597	3.78		85		11,076	3.03		75		10,804	2.80
Total consumer	1,777		398,120	0.90		1,282		445,144	1.14		1,177		437,363	1.07		984		405,214	0.97
Commercial - domestic	102		146,580	0.14		123		158,604	0.31		111		153,007	0.29		50		148,445	0.14
Commercial real estate	-		36,713	-		1		36,851	0.01		2		37,471	0.02		1		36,749	-
Commercial lease financing	(40	)	20,705	(0.39	)	12		21,159	0.22		-		20,875	-		(17	)	20,896	(0.33	)
Commercial - foreign	6		23,745	0.05		(1	)	21,840	(0.02	)	(13	)	24,761	(0.21	)	5		24,345	0.08
Total commercial	68		227,743	0.06		135		238,454	0.22		100		236,114	0.17		39		230,435	0.07
Total net charge-offs	$1,845		$625,863	0.59		$1,417		$683,598	0.82		$1,277		$673,477	0.75		$1,023		$635,649	0.65
Impact of SOP 03-3 (4)
Residential mortgage	$-					$-					$-					$-
Credit card - domestic	78					11					10					7
Credit card - foreign	44					4					5					6
Home equity	-					-					-					-
Direct/Indirect consumer	67					6					5					7
Other consumer	31					4					6					3
Total consumer	220					25					26					23
Commercial - domestic	17					-					-					4
Commercial real estate	-					-					-					-
Commercial lease financing	-					-					-					-
Commercial - foreign	-					-					-					-
Total commercial	17					-					-					4
Total net charge-offs	$237					$25					$26					$27
Net Charge-offs and Net Charge-off Ratios Excluding the Impact of SOP 03-3
Residential mortgage	$24		$191,046	0.03	%	$9		$225,985	0.02	%	$6		$222,889	0.01	%	$14		$197,228	0.03	%
Credit card - domestic	1,435		66,566	4.35		895		59,802	5.93		863		62,508	5.48		730		64,980	4.50
Credit card - foreign	120		8,354	2.90		83		10,375	3.22		75		9,455	3.13		63		8,305	3.02
Home equity	21		74,166	0.06		19		84,904	0.09		11		79,899	0.06		12		75,894	0.06
Direct/Indirect consumer	249		47,407	1.06		196		53,481	1.45		157		51,536	1.22		110		48,003	0.91
Other consumer	148		10,581	2.85		105		10,597	3.93		91		11,076	3.22		78		10,804	2.93
Total consumer	1,997		398,120	1.01		1,307		445,144	1.17		1,203		437,363	1.09		1,007		405,214	1.00
Commercial - domestic	119		146,580	0.16		123		158,604	0.31		111		153,007	0.29		54		148,445	0.15
Commercial real estate	-		36,713	-		1		36,851	0.01		2		37,471	0.02		1		36,749	-
Commercial lease financing	(40	)	20,705	(0.39	)	12		21,159	0.22		-		20,875	-		(17	)	20,896	(0.33	)
Commercial - foreign	6		23,745	0.05		(1	)	21,840	(0.02	)	(13	)	24,761	(0.21	)	5		24,345	0.08
Total commercial	85		227,743	0.08		135		238,454	0.22		100		236,114	0.17		43		230,435	0.07
Total net charge-offs	$2,082		$625,863	0.67		$1,442		$683,598	0.84		$1,303		$673,477	0.77		$1,050		$635,649	0.66

(1) Average outstanding loans and leases and historical ratios have been adjusted for home equity and direct/indirect consumer due to the reclassification of home equity loan balances from direct/indirect to home equity. The impact on net charge-offs was not material.

(2) The impact of SOP 03-3 was immaterial for the three months ended March 31, 2007 and June 30, 2007, and for the six months ended June 30, 2007.

(3) Percentage amounts are calculated as annualized net charge-offs divided by average outstanding loans and leases during the period for each loan category.

(4) The impact of SOP 03-3 on average outstanding loans and leases for the three months ended June 30, 2006, September 30, 2006 and December 31, 2006, and for the six months ended June 30, 2006 was immaterial.

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

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