8-K

As filed with the Securities and Exchange Commission on October 18, 2011

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(d) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported):

October 18, 2011

BANK OF AMERICA CORPORATION

(Exact name of registrant as specified in its charter)

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

100 North Tryon Street

Charlotte, North Carolina 28255

(Address of principal executive offices)

(704) 386-5681

(Registrant’s telephone number, including area code)

Not Applicable

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

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

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

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

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

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

ITEM 2.02. RESULTS OF OPERATIONS AND FINANCIAL CONDITION.

On October 18, 2011, Bank of America Corporation (the “Registrant”) announced financial results for the third quarter ended September 30, 2011, reporting third quarter net income of $6.2 billion, or $0.56 per diluted share. A copy of the press release announcing the Registrant’s results for the third quarter ended September 30, 2011 as well as certain earnings related slides for use in connection with an earnings investor conference call and webcast are attached hereto as Exhibit 99.1 and Exhibit 99.2, respectively, and incorporated by reference herein.

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

ITEM 7.01. REGULATION FD DISCLOSURE.

On October 18, 2011, the Registrant will hold an investor conference call and webcast to disclose financial results for the third quarter ended September 30, 2011. The Supplemental Information package for use during this conference call and webcast is furnished herewith as Exhibit 99.3 and incorporated by reference in this Item 7.01. All information in the Supplemental Information package is presented as of the particular date or dates referenced therein, and the Registrant does not undertake any obligation to, and disclaims any duty to, update any of the information provided.

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

ITEM 9.01. FINANCIAL STATEMENTS AND EXHIBITS.

(d) Exhibits.

The following exhibits are filed, or furnished in the case of Exhibit 99.3, herewith:

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011
99.2	Select earnings related slides for use on October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011
99.3	Supplemental Information for use on October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011

SIGNATURES

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

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

Dated: October 18, 2011

INDEX TO EXHIBITS

EXHIBIT NO.	DESCRIPTION OF EXHIBIT
99.1	Press Release dated October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011
99.2	Select earnings related slides for use on October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011
99.3	Supplemental Information for use on October 18, 2011 with respect to the Registrant’s financial results for the third quarter ended September 30, 2011

EX-99.1

Exhibit 99.1

October 18, 2011

Investors May Contact:

Kevin Stitt, Bank of America, 1.980.386.5667

Lee McEntire, Bank of America, 1.980.388.6780

Reporters May Contact:

Jerry Dubrowski, Bank of America, 1.980.388.2840

jerome.f.dubrowski@bankofamerica.com

Bank of America Reports Third-Quarter 2011 Net Income of $6.2 Billion, or $0.56 Per Diluted Share

Credit Costs Continue to Decrease With Net Charge-Offs Declining Across Most Portfolios

Strong Capital Generation With Tier 1 Common Equity Ratio at 8.65 Percent

Average Deposit Balances Increased for the Fourth Consecutive Quarter

Growth in Corporate Banking Average Core Loan Balance Across All Regions

Bank of America Merrill Lynch (BAML) Was Ranked No. 2 Globally in Net Investment Banking Fees in the Third Quarter of 2011

Customer Solutions Pilot Program Showing Positive Results

CHARLOTTE – Bank of America Corporation today reported net income of $6.2 billion, or $0.56 per diluted share, for the third quarter of 2011, compared with a net loss of $7.3 billion, or $0.77 per diluted share, in the year-ago period. Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis¹ rose 6 percent to $28.7 billion.

There were a number of significant items that affected results in both periods. The most recent quarter included, among other things, $4.5 billion (pretax) in positive fair value adjustments on structured liabilities, a pretax gain of $3.6 billion from the sale of shares of China Construction Bank (CCB), $1.7 billion pretax gain in trading Debit Valuation Adjustments (DVA), and a pretax loss of $2.2 billion related to private equity and strategic investments, excluding CCB. The fair value adjustment on structured liabilities reflects the widening of the company’s credit spreads and does not impact

1 Fully taxable-equivalent (FTE) basis is a non-GAAP measure. For reconciliation to GAAP measures, refer to pages 25-27 of this press release. Total revenue, net of interest expense on a GAAP basis was $28.5 billion for the three months ended September 30, 2011.

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regulatory capital ratios. The year-ago quarter included a $10.4 billion goodwill impairment charge. Details on the significant items are included in the revenue and expense section of this press release.

“This quarter’s results reflect several actions we took that highlight our ongoing transformation toward becoming a leaner, more focused company,” said Chief Executive Officer Brian Moynihan. “The diversity and depth in our customer and client offerings provided some resiliency in a very challenging environment.”

“Our focus this quarter was on strengthening the balance sheet by selling non-core assets and building capital to position the company for future growth,” said Chief Financial Officer Bruce Thompson. “In that regard, we accomplished a great deal. We reduced the size of our balance sheet by $42 billion from the second quarter of 2011, nearly doubled our Tier 1 common equity ratio since early 2009, and continued to have strong liquidity levels even after significantly reducing both short- and long-term debt.”

Making progress on operating principles

During the third quarter of 2011, the company made significant progress in line with its operating principles, including the following developments:

Focus on customer-driven businesses

• Bank of America extended approximately $141 billion in credit in the third quarter of 2011, according to preliminary data. This included $85 billion in commercial non-real estate loans, $33 billion in residential first mortgages, $10 billion in commercial real estate loans, $5 billion in U.S. consumer and small business card, $847 million in home equity products and $7 billion in other consumer credit.

• The $33 billion in residential first mortgages funded in the third quarter helped over 151,000 homeowners either purchase a home or refinance an existing mortgage. This included approximately 12,000 first-time homebuyer mortgages originated by retail channels, and more than 54,000 mortgages to low- and moderate-income borrowers. Approximately 47 percent of funded first mortgages were for home purchases and 53 percent were refinances.

• Total average deposit balances of $1.05 trillion were up $77 billion, or 8 percent from the year-ago period, and $15 billion, or 1 percent higher than the second quarter of 2011.

• The number of net new consumer and small business checking accounts was positive for the third consecutive quarter as the company continued to focus on the retention of profitable customer relationships.

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• Bank of America launched Customer Solutions earlier this year as a pilot in certain markets for new customers. The company has been successfully converting select customers in those markets with favorable results as many customers are willing to increase their balances to achieve account benefits.

• Bank of America continued to expand its service for small business owners by hiring nearly 500 locally based small business bankers through the third quarter of 2011 to provide convenient access to financial advice and solutions. The company plans to hire more than 1,000 small business bankers by early 2012.

• Referral volumes remained strong during the third quarter with referrals from Global Wealth and Investment Management to Global Banking and Markets up 28 percent from the year-ago quarter, and referrals from Global Wealth and Investment Management to Global Commercial Banking up 6 percent from the same period.

• Global Wealth and Investment Management added 475 Financial Advisors in the quarter.

Building a fortress balance sheet

• Regulatory capital ratios increased significantly during the third quarter compared to the second quarter of 2011, with the Tier 1 common equity ratio at 8.65 percent, the tangible common equity ratio² at 6.25 percent and the common equity ratio at 9.50 percent at September 30, 2011.

• The company took advantage of its strong liquidity position to reduce short-term debt by $17 billion and long-term debt by $28 billion during the third quarter. The parent company’s time-to-required funding increased to 27 months from 22 months in the second quarter of 2011.

• The company continued to strengthen the balance sheet by reducing risk-weighted assets by $33 billion from the second quarter of 2011 and $117 billion from the third quarter of 2010.

Pursuing operational excellence in efficiency and risk management

• Earlier this year, the company launched Project New BAC, a comprehensive initiative designed to simplify and streamline the company and align expenses. Implementation of Phase 1 ideas began this month with a goal of reducing expenses by approximately $5 billion per year by 2014, on a baseline of approximately $27 billion in annual expenses for the business areas reviewed in Phase 1. The company expects to incur technology and severance costs during the implementation of Phase 1. The New BAC Phase 2 review began this month and is expected to continue into early 2012 and cover the balance of businesses

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and operations that were not reviewed in Phase 1.

• The provision for credit losses declined 37 percent from the year-ago quarter, reflecting improved credit quality across most consumer and commercial portfolios and underwriting changes implemented over the last several years.

• The allowance for loan and lease losses to annualized net charge-off coverage ratio remained strong in the third quarter of 2011 at 1.74 times, compared to 1.53 times in the third quarter of 2010 (1.33 times compared to 1.34 times excluding purchased credit-impaired loans).

Delivering on the shareholder return model

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

• Tangible book value per share² rose to $13.22 in the third quarter of 2011, compared to $12.91 in the third quarter of 2010 and $12.65 in the second quarter of 2011. Book value per share was $20.80 in the third quarter of 2011 compared to $21.17 in the third quarter of 2010 and $20.29 in the second quarter of 2011.

Continuing to address legacy issues

• Since the start of 2008, Bank of America and legacy Countrywide have completed nearly 961,000 loan modifications with customers. During the third quarter of 2011, more than 52,000 loan modifications were completed, compared with 69,000 in the second quarter of 2011 and 50,000 in the third quarter of 2010.

• During the quarter, Bank of America successfully implemented the rollout of a single point of contact in the default servicing business. More than 6,500 employees have now been trained and deployed in these client relationship management roles.

²  Tangible common equity ratio and tangible book value per share of common stock are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

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Business Segment Results

Deposits

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	3,119		$	3,301		$	3,146
Provision for credit losses		52			31			62
Noninterest expense		2,627			2,609			2,774
Net income	$	276		$	424		$	198
Return on average equity		4.61	%		7.20	%		3.23	%
Return on average economic capital1		18.78	%		29.98	%		12.40	%
Average deposits	$	422,331		$	426,684		$	411,117
	At September 30, 2011			At June 30, 2011			At September 30, 2010
Client brokerage assets	$	61,918		$	69,000		$	59,984

¹ Fully taxable-equivalent (FTE) basis and return on average economic capital are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

Business Highlights

• Average deposit balances increased $11.2 billion from the year-ago quarter, driven by growth in liquid products in a low rate environment.

• The cost per dollar of deposits improved by 21 basis points to 2.47 percent from the year-ago quarter, highlighting the company’s continued efficiency and competitive edge in maintaining a low-cost distribution channel.

Financial Overview

Deposits reported net income of $276 million, up $78 million from the year-ago quarter, largely due to lower noninterest expense, partially offset by lower revenue.

Revenue of $3.1 billion was down $27 million from the year-ago quarter driven by lower noninterest income, reflecting the impact of overdraft fee changes that were fully implemented during the third quarter of 2010. Net interest income of $2.0 billion was

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relatively flat from the year-ago quarter, while noninterest expense was down $147 million from a year ago to $2.6 billion due to a decrease in operating expenses.

Card Services¹

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis2	$	4,507		$	4,856		$	5,377
Provision for credit losses		1,037			302			3,066
Noninterest expense3		1,458			1,532			11,834
Net income (loss)	$	1,264		$	1,939		$	(9,844	)
Return on average equity		22.36	%		34.31	%		n/m
Return on average economic capital2		49.31	%		74.83	%		16.63	%
Average loans	$	123,547		$	127,344		$	141,092
	At September 30, 2011			At June 30, 2011			At September 30, 2010
Period-end loans	$	122,223		$	125,140		$	138,492

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

²  Fully taxable-equivalent (FTE) basis and return on average economic capital are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

³  Includes a goodwill impairment charge of $10.4 billion in the third quarter of 2010.

n/m = not meaningful

Business Highlights

• The number of new U.S. credit card accounts grew by 17 percent in the third quarter of 2011 compared to the second quarter of 2011.

• Credit quality continued to improve with the 30+ delinquency rate declining for the 10th consecutive quarter.

Financial Overview

Card Services reported net income of $1.3 billion, compared to a loss of $9.8 billion in the year-ago quarter. The improvement in net income reflected the impact of a $10.4 billion goodwill impairment charge in the third quarter of 2010 and lower credit costs in

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the current period, partially offset by lower revenue. Excluding the impairment charge, net income was up $708 million from the third quarter of 2010.

Revenue declined 16 percent to $4.5 billion from the year-ago quarter, driven by a decrease in net interest income from lower average loans and yields as well as lower noninterest income. Average loans declined $17.5 billion from the year-ago period due to higher payments, charge-offs, continued non-core portfolio runoff and divestitures.

Provision for credit losses decreased $2.0 billion from a year ago to $1.0 billion, reflecting improving delinquencies and collections and fewer bankruptcies as a result of improving economic conditions and lower average loans. Excluding the goodwill impairment charge in the third quarter of 2010, noninterest expense was flat from a year ago.

Global Wealth and Investment Management

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	4,230		$	4,490		$	3,898
Provision for credit losses		162			72			127
Noninterest expense		3,516			3,631			3,345
Net income	$	347		$	506		$	269
Return on average equity		7.72	%		11.54	%		5.91	%
Return on average economic capital1		19.66	%		29.97	%		15.84	%
Average loans	$	102,785		$	102,200		$	99,103
Average deposits		255,660			255,219			234,807
(in billions)	At September 30, 2011			At June 30, 2011			At September 30, 2010
Assets under management	$	616.9		$	661.0		$	611.5
Total client balances2		2,063.3			2,202.0			2,120.9

¹  Fully taxable-equivalent (FTE) basis and return on average economic capital are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

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

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Business Highlights

• Asset management fees were a record $1.56 billion in the third quarter of 2011, up 17 percent from the year-ago quarter, driven by higher market levels and higher client flows into long-term assets under management.

• Average deposit balances grew 9 percent from the third quarter of 2010 to $255.7 billion, and average loan balances grew 4 percent to $102.8 billion.

Financial Overview

Global Wealth and Investment Management net income rose 29 percent from the year-ago quarter. Revenue was $4.2 billion, up 9 percent, driven by higher asset management fees, net interest income, and transactional activity.

The provision for credit losses increased $35 million from a year ago, driven by higher costs associated with the residential mortgage portfolio.

Noninterest expense increased 5 percent from a year ago to $3.5 billion, due primarily to higher volume-driven expenses and personnel costs associated with the continued build-out of the business.

Consumer Real Estate Services

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	2,822		$	(11,315	)	$	3,612
Provision for credit losses		918			1,507			1,302
Noninterest expense2		3,852			8,645			2,923
Net loss	$	(1,137	)	$	(14,519	)	$	(392	)
Average loans	$	120,079		$	121,683		$	127,712
	At September 30, 2011			At June 30, 2011			At September 30, 2010
Period-end loans	$	119,823		$	121,553		$	127,700

¹ Fully taxable-equivalent (FTE) basis is a non-GAAP measure. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

²  Includes a goodwill impairment charge of $2.6 billion in the second quarter of 2011.

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Business Highlights

• Funded $33.8 billion in residential home loans and home equity loans during the third quarter.

• Announced plans to exit the Home Loans correspondent mortgage lending channel and focus entirely on retail distribution for mortgage products and services.

Financial Overview

Consumer Real Estate Services reported a net loss of $1.1 billion, compared to a net loss of $392 million for the same period in 2010. Revenue declined 22 percent to $2.8 billion. Noninterest expense increased 32 percent to $3.9 billion, and the provision for credit losses fell 29 percent to $918 million.

The year-over-year decline in revenue was primarily driven by a decrease in core production income, lower insurance income due to the sale of Balboa Insurance during the second quarter of 2011, and a decline in net interest income primarily due to the change in composition of assets and liabilities. The decrease in core production income was due to a decline in new loan originations caused primarily by lower overall market demand and a drop in market share in the correspondent lending channels. These declines were partially offset by improved MSR results, net of hedges, and a decline in the representations and warranties provision, which is included in mortgage banking income.

Representations and warranties provision was $278 million in the third quarter of 2011, compared to $872 million in the third quarter of 2010 and $14 billion in the second quarter of 2011.

Provision for credit losses decreased $384 million from a year ago to $918 million, driven primarily by improving portfolio trends, including the Countrywide purchased credit-impaired home equity portfolio.

The increase in noninterest expense from the year-ago quarter was primarily due to higher default-related and other loss mitigation expenses, mortgage-related assessments and waivers costs, which include costs related to foreclosure delays and other out-of-pocket costs that the company does not expect to recover, as well as higher litigation expense. These increases were partially offset by lower insurance expenses and a decline in production expenses due to lower origination volumes.

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Global Commercial Banking

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	2,533		$	2,811		$	2,633
Provision for credit losses		(150	)		(417	)		556
Noninterest expense		1,018			1,069			1,061
Net income	$	1,050		$	1,381		$	644
Return on average equity		10.22	%		13.67	%		5.95	%
Return on average economic capital1		20.78	%		27.95	%		11.52	%
Average loans and leases	$	188,037		$	189,347		$	199,320
Average deposits		173,837			166,481			148,605

¹  Fully taxable-equivalent (FTE) basis and return on average economic capital are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

Business Highlights

• Credit quality indicators continued to improve as nonperforming assets declined by $2.8 billion, or 30 percent, and total reservable criticized loans declined by $13.5 billion, or 37 percent, versus the year-ago quarter.

• Average commercial and industrial loans grew $3.8 billion, or 4 percent, from a year-ago driven by middle-market clients.

Financial Overview

Global Commercial Banking reported net income of $1.1 billion, up $406 million from a year ago, due to lower credit costs from improved asset quality. Revenue was $2.5 billion, down 4 percent from the year-ago quarter, due to lower loan balances and lower yields. Noninterest expense was $1.0 billion, down 4 percent from the year-ago quarter despite the increase in FDIC costs, due to higher deposit balances as the business tightly managed costs.

The provision for credit losses decreased $706 million from the year-ago quarter to a benefit of $150 million. The decrease was driven by improved overall economic conditions combined with an accelerated rate of loan resolutions in the commercial real estate portfolio.

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Average deposit balances continued to grow, increasing by $25.2 billion from the year-ago quarter, as clients continued to maintain higher levels of liquidity. Average commercial and industrial loan balances have continued to show modest growth, increasing 4 percent from a year ago. However, total average loans and leases decreased $11.3 billion mainly due to reductions in commercial real estate loans.

Global Banking and Markets

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	5,222		$	6,792		$	7,073
Provision for credit losses		15			(82	)		(157	)
Noninterest expense		4,480			4,708			4,311
Net income (loss)	$	(302	)	$	1,559		$	1,468
Return on average equity		n/m			16.69	%		11.61	%
Return on average economic capital1		n/m			23.23	%		14.57	%
Total average assets	$	748,289		$	748,964		$	743,264
Total average deposits		121,389			116,899			96,040

¹  Fully taxable-equivalent (FTE) basis and return on average economic capital are non-GAAP measures. Other companies may define or calculate these measures differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

n/m = not meaningful

Business Highlights

• Average loan and lease balances and average deposit balances within Global Banking and Markets increased 22 percent and 26 percent respectively versus the year-ago quarter due primarily to strong growth in the international and domestic portfolios.

• Bank of America Merrill Lynch (BAML) was ranked No. 2 globally in net investment banking fees in the third quarter of 2011 with a 6.8 percent market share, as reported by Dealogic.

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Financial Overview

Global Banking and Markets reported a net loss of $302 million, down from net income of $1.5 billion in the year-ago quarter. Pretax income was $727 million, down from $2.9 billion a year ago. Revenue declined 26 percent to $5.2 billion, primarily driven by lower sales and trading revenue and investment banking fees. Tax expense for the most recent period included a $774 million charge related to the U.K. tax rate change enacted during the quarter, which reduced the carrying value of the deferred tax assets.

Noninterest expense of $4.5 billion was relatively flat compared to the year-ago period.

Provision for credit losses was $15 million versus a year-ago benefit of $157 million due to higher reserve releases in the prior year period, coupled with loan growth and a slower rate of improvement within the corporate credit portfolio in the current period.

Sales and trading revenue was $2.8 billion, a decrease of 37 percent from the third quarter of 2010. The current period includes DVA gains of $1.7 billion compared to losses of $34 million in the third quarter of 2010, as the company’s credit spreads widened throughout the quarter.

Fixed Income, Currency and Commodities sales and trading revenues excluding DVA gains were $314 million, a decrease of $3.2 billion compared to the same quarter last year, due to lower client activity and adverse market conditions. Equities sales and trading revenues excluding DVA gains were $757 million, a decrease of $201 million primarily driven by lower trading revenue in equity derivatives.

Firmwide investment banking fees, including self-led deals, declined to $1.1 billion from $1.4 billion in the third quarter of 2010, mainly due to weakening markets for debt and equity issuances. Total investment banking fees, excluding self-led deals, were down 31 percent from the year-ago period, with 24 percent of investment banking fees originating outside the U.S., compared to 14 percent for the same period last year.

Corporate Bank revenues of $1.4 billion remained strong in a low interest rate environment as average loans and leases increased 25 percent from the same period a year ago to $101.3 billion, driven by growth in both domestic and international commercial loans and international trade finance. Average deposits within the Corporate Bank increased 28 percent to $114.1 billion from the third quarter of 2010 as balances continued to grow from excess liquidity and restrained spending among customers and limited alternative investment options.

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All Other¹

	Three Months Ended
(Dollars in millions)	September 30, 2011		June 30, 2011			September 30, 2010
Total revenue, net of interest expense, FTE basis1	$	6,269	$	2,548		$	1,243
Provision for credit losses	$	1,373	$	1,842		$	440
Noninterest expense		662		662			968
Net income (loss)	$	4,734	$	(116	)	$	358
Average loans	$	286,753	$	287,840		$	268,056

¹  All Other consists primarily of equity investments, the residential mortgage portfolio associated with ALM activities, the residual impact of the cost allocation process, merger and restructuring charges, intersegment eliminations, fair value adjustments related to structured liabilities and the results of certain consumer finance, investment management and commercial lending businesses that are being liquidated. During the third quarter of 2011, as a result of the decision to exit the international consumer card businesses, the international consumer card business results have been moved to All Other and prior periods have been reclassified. Fully taxable-equivalent (FTE) basis is a non-GAAP measure. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

All Other reported net income of $4.7 billion, compared to net income of $358 million a year ago, due to higher revenue partially offset by higher provision for credit losses. Revenue increased $5.0 billion due primarily to positive fair value adjustments of $4.5 billion related to structured liabilities as a result of widening of the company’s credit spreads, compared to negative fair value adjustments of $190 million in the year-ago period. In addition, the year-ago period included $592 million for a reserve related to payment protection insurance claims in the U.K.

Additionally, equity investment income was $1.1 billion higher than the year-ago quarter, reflecting the pretax gain on the sale of a portion of the company’s CCB investment, partially offset by equity investment losses. The decrease in noninterest expense was due to a reduction in merger and restructuring charges, down $245 million compared to the year-ago period.

Provision for credit losses increased $933 million to $1.4 billion driven primarily by a slower pace of improvement in the residential mortgage portfolio. Additionally, provision expense in the non-U.S. credit card portfolio increased driven by the slowing pace of improvement in projected losses.

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Corporate Overview

Third-Quarter 2011 Revenue and Expense

	Three Months Ended
(Dollars in millions)	September 30, 2011		June 30, 2011			September 30, 2010
Net interest income, FTE basis1	$	10,739	$	11,493		$	12,717
Noninterest income		17,963		1,990			14,265
Total revenue, net of interest expense, FTE basis		28,702		13,483			26,982
Noninterest expense2	$	17,613	$	20,253		$	16,816
Goodwill impairment charge	$	—	$	2,603		$	10,400
Net income (loss)	$	6,232	$	(8,826	)	$	(7,299	)

¹ Fully taxable-equivalent (FTE) basis is a non-GAAP measure. For reconciliation to GAAP measures, refer to pages 25-27 of this press release. Net interest income on a GAAP basis was $10.5 billion, $11.2 billion and $12.4 billion for the three months ended September 30, 2011, June 30, 2011 and September 30, 2010. Total revenue, net of interest expense on a GAAP basis was $28.5 billion, $13.2 billion and $26.7 billion for the three months ended September 30, 2011, June 30, 2011 and September 30, 2010.

²  Excludes a goodwill impairment charge of $2.6 billion in the second quarter of 2011 and $10.4 billion in the third quarter of 2010.

Revenue, net of interest expense, on a fully taxable-equivalent (FTE) basis rose 6 percent from the third quarter of 2010, reflecting higher noninterest income partially offset by lower net interest income.

Net interest income on an FTE basis decreased 16 percent from a year earlier. The net interest yield fell 40 basis points from the year-ago quarter, driven by hedge ineffectiveness and the acceleration of amortization of premiums on securities due to faster prepayment expectations.

Noninterest income increased $3.7 billion from the year-ago quarter largely due to higher other income and equity investment income, partially offset by lower trading account profits. Other income increased due to the previously mentioned positive fair value adjustments on the structured liabilities and the higher equity investment income from the gain on the sale of CCB shares. This was partially offset by the losses in Global Principal Investments and a write-down of a strategic investment. Trading account profits were lower due to adverse market conditions throughout the quarter.

Noninterest expense decreased $9.6 billion, or 35 percent from the year-ago quarter, to $17.6 billion as the year-ago quarter included a goodwill impairment charge of $10.4 billion. Excluding the goodwill impairment charge, noninterest expense increased by $797 million, reflecting increased personnel costs.

The tax expense for the third quarter of 2011 was $1.2 billion, resulting in a 16.15 percent effective tax rate. The effective tax rate in the third quarter of 2011 included,

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among other items, a larger-than-usual portion of recurring tax preference items (such as tax-exempt income) that was largely offset by the $782 million tax charge related to the U.K. corporate tax rate change as well as tax benefits of approximately $1.1 billion related to capital losses realizable as a result of the CCB sale.

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

Selected Items¹ in Third-Quarter 2011

(Dollars in billions)
Pretax income, FTE basis2	$	7.7
Fair value adjustment on structured liabilities	$	4.5
Gain on partial sale of China Construction Bank		3.6
Debit Valuation Adjustment on trading liabilities		1.7
Gains on sale of debt securities		0.7
Representations and warranties provision		(0.3	)
International card divestitures		(0.3	)
Assessments and waivers costs		(0.4	)
Net interest income accelerated premium amortization		(0.4	)
Mortgage-related litigation expense		(0.5	)
Net interest income asset hedge ineffectiveness		(0.6	)
U.K. tax rate change		(0.8	)
Equity investments (excluding CCB sale)		(2.2	)

¹  All items are pretax except U.K. tax rate change.

²  Fully taxable-equivalent (FTE) basis is a non-GAAP measure. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

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Third-Quarter 2011 Credit Quality

	Three Months Ended
(Dollars in millions)	September 30, 2011			June 30, 2011			September 30, 2010
Provision for credit losses	$	3,407		$	3,255		$	5,396
Net charge-offs		5,086			5,665			7,197
Net charge-off ratio1		2.17	%		2.44	%		3.07	%
	At September 30, 2011			At June 30, 2011			At September 30, 2010
Nonperforming loans, leases and foreclosed properties	$	29,059		$	30,058		$	34,556
Nonperforming loans, leases and foreclosed properties ratio2		3.15	%		3.22	%		3.71	%
Allowance for loan and lease losses	$	35,082		$	37,312		$	43,581
Allowance for loan and lease losses ratio3		3.81	%		4.00	%		4.69	%

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

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

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

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

Credit quality improved in the third quarter, with net charge-offs declining across most portfolios, compared to the third quarter of 2010. Provision for credit losses also decreased significantly from a year ago. Additionally, 30+ performing delinquent loans, excluding Federal Housing Administration-insured loans and long-term standby agreements, declined across all portfolios, and reservable criticized balances also continued to decline, down 35 percent from the year-ago period.

Net charge-offs declined $2.1 billion from the third quarter of 2010, reflecting improvement in most of the consumer and commercial portfolios. The decrease was primarily driven by fewer delinquent loans, improved collection rates, and lower bankruptcy filings across the Card Services loan portfolio, as well as lower losses in the home equity portfolio, driven by fewer delinquent loans.

The provision for credit losses declined to $3.4 billion from $5.4 billion a year ago and included reserve reductions of $1.7 billion driven primarily by improvement in projected delinquencies, collections and bankruptcies across the Card Services portfolios and by

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improvement in economic conditions impacting the core commercial portfolio, as evidenced by continued declines in reservable criticized and nonperforming balances.

The allowance for loan and lease losses to annualized net charge-off coverage ratio increased in the third quarter to 1.74 times, compared with 1.64 times in the second quarter of 2011 and 1.53 times in the third quarter of 2010. Excluding purchased credit-impaired loans, the allowance to annualized net charge-off coverage ratio was 1.33, 1.28 and 1.34 times for the same periods, respectively.

Nonperforming loans, leases and foreclosed properties were $29.1 billion at September 30, 2011, down from $30.1 billion at June 30, 2011, and $34.6 billion at September 30, 2010.

Capital and Liquidity Management

(Dollars in millions, except per share information)	At September 30, 2011			At June 30, 2011			At September 30, 2010
Total shareholders’ equity	$	230,252		$	222,176		$	230,495
Tier 1 common ratio		8.65	%		8.23	%		8.45	%
Tier 1 capital ratio		11.48	%		11.00	%		11.16	%
Total capital ratio		15.86	%		15.65	%		15.65	%
Tangible common equity ratio1		6.25	%		5.87	%		5.74	%
Common equity ratio		9.50	%		9.09	%		9.08	%
Tangible book value per share1	$	13.22		$	12.65		$	12.91
Book value per share		20.80			20.29			21.17

¹ Tangible common equity ratio and tangible book value per share are non-GAAP measures. Other companies may define or calculate these ratios differently. For reconciliation to GAAP measures, refer to pages 25-27 of this press release.

Regulatory capital ratios increased significantly during the third quarter, compared to the second quarter of 2011, with the Tier 1 capital ratio at 11.48 percent, the Tier 1 common equity ratio at 8.65 percent, and the Tangible common equity ratio at 6.25 percent. This compares with a Tier 1 capital ratio of 11.00 percent, a Tier 1 common equity ratio at 8.23 percent, and a Tangible common equity ratio at 5.87 percent at June 30, 2011.

The company’s total global excess liquidity increased approximately $40 billion from the end of the third quarter of 2010 to $363 billion at September 30, 2011. The company’s time-to-required funding was 27 months at September 30, 2011, compared to 23 months a year ago and 22 months at June 30, 2011.

During the third quarter of 2011, a cash dividend of $0.01 per common share was paid and the company declared $343 million in preferred dividends. Period-end common shares issued and outstanding were 10.13 billion for the second and third quarters of 2011 and 10.03 billion for the third quarter of 2010, respectively.

Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Bruce Thompson will discuss third-quarter 2011 results in a conference call at 8:30 a.m. ET today. The presentation and supporting materials can be accessed on the Bank of America Investor Relations Web site at http://investor.bankofamerica.com. For a listen-

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only connection to the conference call, dial 1.877.200.4456 (U.S.) or 1.785.424.1732 (international) and the conference ID: 79795.

Bank of America

Bank of America is one of the world’s largest financial institutions, serving individual consumers, small- and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 58 million consumer and small business relationships with approximately 5,700 retail banking offices and approximately 17,750 ATMs and award-winning online banking with 30 million active users. Bank of America is among the world’s leading wealth management companies and is a global leader in corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company serves clients through operations in more than 40 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Bank of America and its management may make certain statements that constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. These statements can be identified by the fact that they do not relate strictly to historical or current facts. Forward-looking statements often use words such as “anticipates,” “targets,” “expects,” “estimates,” “intends,” “plans,” “goals,” “believes” and other similar expressions or future or conditional verbs such as “will,” “should,” “would” and “could.” The forward-looking statements made represent Bank of America’s current expectations, plans or forecasts of its future results and revenues, the company’s building of a fortress balance sheet; the implementation and completion of, and expected impact from, Project New BAC, including estimated expense reductions; the pending sale of the company’s Canadian credit card business; the nationwide launch of Customer Solutions; plans to hire more than 1,000 small business bankers by early 2012; implementation of a customer-focused strategy to position the company for long-term growth; plans to exit the Home Loans correspondent mortgage lending channel and focus on retail distribution of mortgage products and services; the estimated range of possible loss for non-GSE representations and warranties exposure; representations and warranties reserves, expenses and repurchase activity; and other similar matters. These statements are not guarantees of future results or performance and involve certain risks, uncertainties and assumptions that are difficult to predict and are often beyond Bank of America’s control. Actual outcomes and results may differ materially from those expressed in, or implied by, any of these forward-looking statements.

You should not place undue reliance on any forward-looking statement and should consider all of the following uncertainties and risks, as well as those more fully discussed under Item 1A. “Risk Factors” of Bank of America’s 2010 Annual Report on Form 10-K and Quarterly Report on Form 10-Q for the quarterly period ended June 30, 2011 and in any of Bank of America’s subsequent SEC filings: the company’s ability to implement, manage and realize the anticipated benefits and expense savings from Project New BAC; the company’s timing and determinations regarding any potential revised comprehensive capital plan submission and the Federal Reserve Board’s response; the company’s intent to build capital through retaining earnings, reducing legacy asset portfolios and implementing other non-dilutive capital related initiatives; the accuracy and variability of estimates and assumptions in determining the expected total cost

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to Bank of America of the recent private label securitization settlement (the settlement) with The Bank of New York Mellon (BNY Mellon); the accuracy and variability of estimates and assumptions in determining the estimated liability and/or estimated range of possible loss for representation and warranties exposures to the GSEs, monolines and private label and other investors; the accuracy and variability of estimates and assumptions in determining the portion of Bank of America’s repurchase obligations for residential mortgage obligations sold by Bank of America and its affiliates to investors that has been paid or reserved after giving effect to the settlement agreement with BNY Mellon (the settlement agreement) and the charges in the quarter ended June 30, 2011; the possibility that objections to the settlement, including substantial objections already filed, will delay or prevent receipt of final court approval; whether the conditions to the settlement will be satisfied, including the receipt of final court approval and private letter rulings from the IRS and other tax rulings and opinions; whether conditions in the settlement agreement that would permit Bank of America and legacy Countrywide to withdraw from the settlement will occur and whether Bank of America and legacy Countrywide will determine to withdraw from the settlement pursuant to the terms of the settlement agreement; the impact of performance and enforcement of obligations under, and provisions contained in, the settlement agreement and the institutional investor agreement, including performance of obligations under the settlement agreement by Bank of America (and certain of its affiliates) and the trustee and the performance of obligations under the institutional investor agreement by Bank of America (and certain of its affiliates) and the investor group; Bank of America’s and certain of its affiliates’ ability to comply with the servicing and documentation obligations under the settlement agreement; the potential assertion and impact of additional claims not addressed by the settlement agreement or any of the prior agreements entered into between Bank of America (and/or certain of its affiliates) and the GSEs, monoline insurers and other investors; the company’s resolution of certain representations and warranties obligations with the GSEs and ability to resolve any remaining claims; the company’s ability to resolve any representations and warranties obligations with monolines and private investors; increased repurchase claims and repurchases due to mortgage insurance cancellations, rescissions and denials; the company’s failure to satisfy its obligations as servicer in the residential mortgage securitization process; the foreclosure review and assessment process, the effectiveness of the company’s response to such process and any governmental or private third-party claims asserted in connection with these foreclosure matters; the risk of a credit rating downgrade of the U.S. government by one of the other major credit rating agencies in addition to the downgrade from Standard & Poor’s in August 2011; the risk that Standard & Poor’s will further downgrade the U.S. government’s credit rating; negative economic conditions generally including continued weakness in the U.S. housing market, high unemployment in the U.S., as well as economic challenges in many non-U.S. countries in which we operate; the impact resulting from international and domestic sovereign credit uncertainties, including the current challenges facing European economies; the company’s credit ratings and the credit ratings of its securitizations, including the risk that the company or its securities will be the subject of additional or further credit rating downgrades in addition to the downgrade by Moody’s in the third quarter of 2011; the company’s mortgage modification policies, loss mitigation strategies and related results; and any measures or steps taken by federal regulators or other governmental authorities with regard to mortgage loans, servicing agreements and standards, or other matters; the level and volatility of the capital markets, interest rates, currency values and other market indices; changes in consumer, investor and counterparty confidence in, and the related impact on, financial markets and institutions, including the company as well as its business partners; the accuracy and variability of estimates of the fair value of certain of the company’s assets and liabilities; legislative and regulatory actions in the U.S. (including the impact of the Dodd-Frank Wall Street Reform and Consumer Protection Act (the Financial Reform Act), the Electronic Fund Transfer Act, the Credit Card Accountability Responsibility and Disclosure Act and related regulations

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and interpretations) and internationally; the identification and effectiveness of any initiatives to mitigate the negative impact of the Financial Reform Act; the impact of litigation and regulatory investigations, including costs, expenses, settlements and judgments as well as any collateral effects on its ability to do business and access the capital markets; the ability to achieve resolution in negotiations with law enforcement authorities and federal agencies, including the U.S. Department of Justice and the U.S. Department of Housing and Urban Development, involving mortgage servicing practices, including the timing and any settlement terms; various monetary, tax and fiscal policies and regulations of the U.S. and non-U.S. governments; changes in accounting standards, rules and interpretations (including new consolidation guidance), inaccurate estimates or assumptions in the application of accounting policies, including in determining reserves, applicable guidance regarding goodwill accounting and the impact on the Company’s financial statements.

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

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

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

www.bankofamerica.com

Bank of America Corporation and Subsidiaries

Selected Financial Data

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

Summary Income Statement	Nine Months Ended September 30								Third Quarter			Second Quarter				Third Quarter
	2011				2010				2011			2011				2010
Net interest income	$	33,915			$	39,084			$	10,490		$	11,246			$	12,435
Noninterest income		34,651				48,738				17,963			1,990				14,265
Total revenue, net of interest expense		68,566				87,822				28,453			13,236				26,700
Provision for credit losses		10,476				23,306				3,407			3,255				5,396
Merger and restructuring charges		537				1,450				176			159				421
Goodwill impairment		2,603				10,400				—			2,603				10,400
All other noninterest expense (1)		57,612				50,394				17,437			20,094				16,395
Income (loss) before income taxes		(2,662	)			2,272				7,433			(12,875	)			(5,912	)
Income tax expense (benefit)		(2,117	)			3,266				1,201			(4,049	)			1,387
Net income (loss)	$	(545	)		$	(994	)		$	6,232		$	(8,826	)		$	(7,299	)
Preferred stock dividends		954				1,036				343			301				348
Net income (loss) applicable to common shareholders	$	(1,499	)		$	(2,030	)		$	5,889		$	(9,127	)		$	(7,647	)
Earnings (loss) per common share	$	(0.15	)		$	(0.21	)		$	0.58		$	(0.90	)		$	(0.77	)
Diluted (loss) earnings per common share		(0.15	)			(0.21	)			0.56			(0.90	)			(0.77	)
Summary Average Balance Sheet	Nine Months Ended September 30								Third Quarter			Second Quarter				Third Quarter
	2011				2010				2011			2011				2010
Total loans and leases	$	939,848			$	964,302			$	942,032		$	938,513			$	934,860
Debt securities		338,512				317,906				344,327			335,269				328,097
Total earning assets		1,851,736				1,902,303				1,841,135			1,844,525				1,863,819
Total assets		2,326,232				2,462,977				2,301,454			2,339,110				2,379,397
Total deposits		1,036,905				982,132				1,051,320			1,035,944				973,846
Shareholders’ equity		229,385				232,465				222,410			235,067				233,978
Common shareholders’ equity		212,512				210,649				204,928			218,505				215,911
Performance Ratios	Nine Months Ended September  30								Third Quarter			Second Quarter				Third Quarter
	2011				2010				2011			2011				2010
Return on average assets		n/m				n/m				1.07	%		n/m				n/m
Return on average tangible shareholders’ equity (2)		n/m				n/m				17.03			n/m				n/m
Credit Quality	Nine Months Ended September 30								Third Quarter			Second Quarter				Third Quarter
	2011				2010				2011			2011				2010
Total net charge-offs	$	16,779			$	27,551			$	5,086		$	5,665			$	7,197
Net charge-offs as a % of average loans and leases outstanding (3)		2.41		%		3.84		%		2.17	%		2.44		%		3.07		%
Provision for credit losses	$	10,476			$	23,306			$	3,407		$	3,255			$	5,396
									September 30 2011			June 30 2011				September 30 2010
Total nonperforming loans, leases and foreclosed properties (4)									$	29,059		$	30,058			$	34,556
Nonperforming loans, leases and foreclosed properties as a % of total loans, leases and foreclosed properties (3)										3.15	%		3.22		%		3.71		%
Allowance for loan and lease losses									$	35,082		$	37,312			$	43,581
Allowance for loan and lease losses as a % of total loans and leases outstanding (3)										3.81	%		4.00		%		4.69		%
Capital Management									September 30 2011			June 30 2011				September 30 2010
Risk-based capital (5):
Tier 1 common equity ratio (6)										8.65	%		8.23		%		8.45		%
Tier 1 capital ratio										11.48			11.00				11.16
Total capital ratio										15.86			15.65				15.65
Tier 1 leverage ratio										7.11			6.86				7.21
Tangible equity ratio (7)										7.16			6.63				6.54
Tangible common equity ratio (7)										6.25			5.87				5.74
Period-end common shares issued and outstanding										10,134,432			10,133,190				10,033,705
	Nine Months Ended September 30								Third Quarter			Second Quarter				Third Quarter
	2011				2010				2011			2011				2010
Common shares issued		49,277				1,383,461				1,242			1,387				688
Average common shares issued and outstanding		10,095,859				9,706,951				10,116,284			10,094,928				9,976,351
Average diluted common shares issued and outstanding		10,095,859				9,706,951				10,464,395			10,094,928				9,976,351
Dividends paid per common share	$	0.03			$	0.03			$	0.01		$	0.01			$	0.01
Summary Period End Balance Sheet									September 30			June 30				September 30
									2011			2011				2010
Total loans and leases									$	932,531		$	941,257			$	933,910
Total debt securities										350,725			331,052				322,862
Total earning assets										1,797,600			1,772,293				1,863,206
Total assets										2,219,628			2,261,319				2,339,660
Total deposits										1,041,353			1,038,408				977,322
Total shareholders’ equity										230,252			222,176				230,495
Common shareholders’ equity										210,772			205,614				212,391
Book value per share of common stock									$	20.80		$	20.29			$	21.17
Tangible book value per share of common stock (2)										13.22			12.65				12.91

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

(2) Return on average tangible shareholders’ equity and tangible book value per share of common stock are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. See Reconciliations to GAAP Financial Measures on pages 25-27.

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

(4) Balances do not include past due consumer credit card, consumer loans secured by real estate where repayments are insured by the Federal Housing Administration and individually insured long-term stand-by agreements (fully-insured home loans), and in general, other consumer and commercial loans not secured by real estate; purchased credit-impaired loans even though the customer may be contractually past due; nonperforming loans held-for-sale; nonperforming loans accounted for under the fair value option; and nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010.

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

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

(7) Tangible equity ratio equals period end tangible shareholders’ equity divided by period end tangible assets. Tangible common equity equals period end tangible common shareholders’ equity divided by period end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. See Reconciliations to GAAP Financial Measures on pages 25-27.

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Quarterly Results by Business Segment

(Dollars in millions)

	Third Quarter 2011
	Deposits			Card Services (1)				Consumer Real Estate Services			Global Commercial Banking				Global Banking & Markets				GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	3,119		$	4,507			$	2,822		$	2,533			$	5,222			$	4,230		$	6,269
Provision for credit losses		52			1,037				918			(150	)			15				162			1,373
Noninterest expense		2,627			1,458				3,852			1,018				4,480				3,516			662
Net income (loss)		276			1,264				(1,137	)		1,050				(302	)			347			4,734
Return on average equity		4.61	%		22.36		%		n/m			10.22		%		n/m				7.72	%		n/m
Return on average economic capital (3)		18.78			49.31				n/m			20.78				n/m				19.66			n/m
Balance Sheet
Average
Total loans and leases		n/m		$	123,547			$	120,079		$	188,037			$	120,143			$	102,785		$	286,753
Total deposits	$	422,331			n/m				n/m			173,837				121,389				255,660			52,853
Allocated equity		23,820			22,410				14,240			40,726				36,372				17,839			67,003
Economic capital (3)		5,873			10,194				14,240			20,037				25,589				7,148			n/m
Period end
Total loans and leases		n/m		$	122,223			$	119,823		$	188,650			$	124,527			$	102,361		$	274,269
Total deposits	$	424,267			n/m				n/m			171,297				115,724				251,027			52,947
	Second Quarter 2011
	Deposits			Card Services (1)				Consumer Real Estate Services			Global Commercial Banking				Global Banking & Markets				GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	3,301		$	4,856			$	(11,315	)	$	2,811			$	6,792			$	4,490		$	2,548
Provision for credit losses		31			302				1,507			(417	)			(82	)			72			1,842
Noninterest expense		2,609			1,532				8,645			1,069				4,708				3,631			662
Net income (loss)		424			1,939				(14,519	)		1,381				1,559				506			(116	)
Return on average equity		7.20	%		34.31		%		n/m			13.67		%		16.69		%		11.54	%		n/m
Return on average economic capital (3)		29.98			74.83				n/m			27.95				23.23				29.97			n/m
Balance Sheet
Average
Total loans and leases		n/m		$	127,344			$	121,683		$	189,347			$	109,473			$	102,200		$	287,840
Total deposits	$	426,684			n/m				n/m			166,481				116,899				255,219			48,093
Allocated equity		23,612			22,671				17,139			40,522				37,458				17,574			76,091
Economic capital (3)		5,662			10,410				14,437			19,825				26,984				6,868			n/m
Period end
Total loans and leases		n/m		$	125,140			$	121,553		$	189,435			$	114,165			$	102,878		$	287,424
Total deposits	$	424,579			n/m				n/m			170,156				122,348				255,580			43,759
	Third Quarter 2010
	Deposits			Card Services (1)				Consumer Real Estate Services			Global Commercial Banking				Global Banking & Markets				GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	3,146		$	5,377			$	3,612		$	2,633			$	7,073			$	3,898		$	1,243
Provision for credit losses		62			3,066				1,302			556				(157	)			127			440
Noninterest expense		2,774			11,834				2,923			1,061				4,311				3,345			968
Net income (loss)		198			(9,844	)			(392	)		644				1,468				269			358
Return on average equity		3.23	%		n/m				n/m			5.95		%		11.61		%		5.91	%		n/m
Return on average economic capital (3)		12.40			16.63		%		n/m			11.52				14.57				15.84			n/m
Balance Sheet
Average
Total loans and leases		n/m		$	141,092			$	127,712		$	199,320			$	98,874			$	99,103		$	268,056
Total deposits	$	411,117			n/m				n/m			148,605				96,040				234,807			55,466
Allocated equity		24,402			33,033				26,493			42,930				50,173				18,039			38,908
Economic capital (3)		6,424			13,665				21,692			22,223				40,116				7,264			n/m
Period end
Total loans and leases		n/m		$	138,492			$	127,700		$	196,333			$	99,525			$	99,511		$	271,672
Total deposits	$	409,365			n/m				n/m			150,994				99,462				240,381			47,942

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

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

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Year-to-Date Results by Business Segment

(Dollars in millions)

	Nine Months Ended September 30, 2011
	Deposits			Card       Services (1)				Consumer Real Estate    Services			Global Commercial Banking				Global Banking &    Markets				GWIM			All    Other  (1)
Total revenue, net of interest expense (2)	$	9,609		$	14,085			$	(6,430	)	$	7,997			$	19,896			$	13,212		$	10,911
Provision for credit losses		116			1,934				3,523			(488	)			(269	)			280			5,380
Noninterest expense		7,835			4,632				17,297			3,195				13,892				10,746			3,155
Net income (loss)		1,051			4,767				(18,070	)		3,354				3,400				1,386			3,567
Return on average equity		5.93	%		27.76		%		n/m			10.96		%		11.83		%		10.42	%		n/m
Return on average economic capital (3)		24.54			59.71				n/m			22.18				16.37				26.63			n/m
Balance Sheet
Average
Total loans and leases		n/m		$	127,755			$	120,772		$	189,924			$	111,167			$	101,952		$	287,627
Total deposits	$	422,452			n/m				n/m			166,895				116,364				256,455			50,367
Allocated equity		23,692			22,958				16,688			40,917				38,422				17,783			68,925
Economic capital (3)		5,740			10,701				14,884			20,222				27,875				7,075			n/m
Period end
Total loans and leases		n/m		$	122,223			$	119,823		$	188,650			$	124,527			$	102,361		$	274,269
Total deposits	$	424,267			n/m				n/m			171,297				115,724				251,027			52,947
	Nine Months Ended September 30, 2010
	Deposits			Card Services (1)				Consumer Real Estate Services			Global Commercial Banking				Global Banking & Markets				GWIM			All Other (1)
Total revenue, net of interest expense (2)	$	10,559		$	16,984			$	9,849		$	8,611			$	22,584			$	12,128		$	8,007
Provision for credit losses		160			9,116				7,292			2,115				(54	)			491			4,186
Noninterest expense		7,926			14,895				8,906			3,068				13,213				9,737			4,499
Net income (loss)		1,562			(8,269	)			(4,010	)		2,165				5,628				1,022			908
Return on average equity		8.61	%		n/m				n/m			6.61		%		14.73		%		7.58	%		n/m
Return on average economic capital (3)		33.45			18.94		%		n/m			12.55				18.39				20.12			n/m
Balance Sheet
Average
Total loans and leases		n/m		$	147,893			$	130,684		$	206,699			$	97,915			$	98,920		$	281,478
Total deposits	$	415,458			n/m				n/m			145,931				95,568				227,613			72,206
Allocated equity		24,254			37,073				26,591			43,790				51,083				18,015			31,659
Economic capital (3)		6,277			15,424				21,788			23,112				41,022				7,227			n/m
Period end
Total loans and leases		n/m		$	138,492			$	127,700		$	196,333			$	99,525			$	99,511		$	271,672
Total deposits	$	409,365			n/m				n/m			150,994				99,462				240,381			47,942

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

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

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data (1)	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			Third Quarter 2010
	2011			2010
Net interest income	$	34,629		$	39,984		$	10,739		$	11,493		$	12,717
Total revenue, net of interest expense		69,280			88,722			28,702			13,483			26,982
Net interest yield (2)		2.50	%		2.81	%		2.32	%		2.50	%		2.72	%
Efficiency ratio		87.69			70.16			61.37			n/m			100.87
Other Data							September 30 2011			June 30 2011			September 30 2010
Number of banking centers - U.S.								5,715			5,742			5,879
Number of branded ATMs - U.S.								17,752			17,817			17,929
Full-time equivalent employees								290,509			287,839			287,293

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

(2) Calculation includes fees earned on overnight deposits placed with the Federal Reserve of $150 million and $305 million for the nine months ended September 30, 2011 and 2010; $38 million and $49 million for the third and second quarters of 2011, and $107 million for the third quarter of 2010, respectively.

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

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

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

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

See the tables below and on pages 26-27 for reconciliations of these non-GAAP measures with financial measures defined by GAAP for the three months ended September 30, 2011, June 30, 2011 and September 30, 2010, and for the nine months ended September 30, 2011 and 2010. The Corporation believes 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.

	Nine Months Ended September 30						Third Quarter 2011		Second Quarter 2011			Third Quarter 2010
	2011			2010
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	33,915		$	39,084		$	10,490	$	11,246		$	12,435
Fully taxable-equivalent adjustment		714			900			249		247			282
Net interest income on a fully taxable-equivalent basis	$	34,629		$	39,984		$	10,739	$	11,493		$	12,717
Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	68,566		$	87,822		$	28,453	$	13,236		$	26,700
Fully taxable-equivalent adjustment		714			900			249		247			282
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	69,280		$	88,722		$	28,702	$	13,483		$	26,982
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges
Total noninterest expense	$	60,752		$	62,244		$	17,613	$	22,856		$	27,216
Goodwill impairment charges		(2,603	)		(10,400	)		—		(2,603	)		(10,400	)
Total noninterest expense, excluding goodwill impairment charges	$	58,149		$	51,844		$	17,613	$	20,253		$	16,816
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	(2,117	)	$	3,266		$	1,201	$	(4,049	)	$	1,387
Fully taxable-equivalent adjustment		714			900			249		247			282
Income tax expense (benefit) on a fully taxable-equivalent basis	$	(1,403	)	$	4,166		$	1,450	$	(3,802	)	$	1,669
Reconciliation of net income (loss) to net income (loss), excluding goodwill impairment charges
Net income (loss)	$	(545	)	$	(994	)	$	6,232	$	(8,826	)	$	(7,299	)
Goodwill impairment charges		2,603			10,400			—		2,603			10,400
Net income (loss), excluding goodwill impairment charges	$	2,058		$	9,406		$	6,232	$	(6,223	)	$	3,101
Reconciliation of net income (loss) applicable to common shareholders to net income (loss) applicable to common shareholders, excluding goodwill impairment charges
Net income (loss) applicable to common shareholders	$	(1,499	)	$	(2,030	)	$	5,889	$	(9,127	)	$	(7,647	)
Goodwill impairment charges		2,603			10,400			—		2,603			10,400
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges	$	1,104		$	8,370		$	5,889	$	(6,524	)	$	2,753

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. 25

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures - continued

(Dollars in millions)

	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			Third Quarter 2010
	2011			2010
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	212,512		$	210,649		$	204,928		$	218,505		$	215,911
Common Equivalent Securities		—			3,877			—			—			—
Goodwill		(72,903	)		(84,965	)		(71,070	)		(73,748	)		(82,484	)
Intangible assets (excluding mortgage servicing rights)		(9,386	)		(11,246	)		(9,005	)		(9,394	)		(10,629	)
Related deferred tax liabilities		2,939			3,368			2,852			2,932			3,214
Tangible common shareholders’ equity	$	133,162		$	121,683		$	127,705		$	138,295		$	126,012
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	229,385		$	232,465		$	222,410		$	235,067		$	233,978
Goodwill		(72,903	)		(84,965	)		(71,070	)		(73,748	)		(82,484	)
Intangible assets (excluding mortgage servicing rights)		(9,386	)		(11,246	)		(9,005	)		(9,394	)		(10,629	)
Related deferred tax liabilities		2,939			3,368			2,852			2,932			3,214
Tangible shareholders’ equity	$	150,035		$	139,622		$	145,187		$	154,857		$	144,079
Reconciliation of period end common shareholders’ equity to period end tangible common shareholders’ equity
Common shareholders’ equity	$	210,772		$	212,391		$	210,772		$	205,614		$	212,391
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			3,123
Tangible common shareholders’ equity	$	133,953		$	129,510		$	133,953		$	128,217		$	129,510
Reconciliation of period end shareholders’ equity to period end tangible shareholders’ equity
Shareholders’ equity	$	230,252		$	230,495		$	230,252		$	222,176		$	230,495
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			3,123
Tangible shareholders’ equity	$	153,433		$	147,614		$	153,433		$	144,779		$	147,614
Reconciliation of period end assets to period end tangible assets
Assets	$	2,219,628		$	2,339,660		$	2,219,628		$	2,261,319		$	2,339,660
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			3,123
Tangible assets	$	2,142,809		$	2,256,779		$	2,142,809		$	2,183,922		$	2,256,779
Book value per share of common stock
Common shareholders’ equity	$	210,772		$	212,391		$	210,772		$	205,614		$	212,391
Ending common shares issued and outstanding		10,134,432			10,033,705			10,134,432			10,133,190			10,033,705
Book value per share of common stock	$	20.80		$	21.17		$	20.80		$	20.29		$	21.17
Tangible book value per share of common stock
Tangible common shareholders’ equity	$	133,953		$	129,510		$	133,953		$	128,217		$	129,510
Ending common shares issued and outstanding		10,134,432			10,033,705			10,134,432			10,133,190			10,033,705
Tangible book value per share of common stock	$	13.22		$	12.91		$	13.22		$	12.65		$	12.91

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. 26

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures - continued

(Dollars in millions)

Reconciliation of return on average economic capital	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Deposits
Reported net income	$	1,051		$	1,562		$	276		$	424		$	351		$	(200	)	$	198
Adjustment related to intangibles (1)		1			8			1			(1	)		1			2			3
Adjusted net income	$	1,052		$	1,570		$	277		$	423		$	352		$	(198	)	$	201
Average allocated equity	$	23,692		$	24,254		$	23,820		$	23,612		$	23,641		$	24,128		$	24,402
Adjustment related to goodwill and a percentage of intangibles		(17,952	)		(17,977	)		(17,947	)		(17,950	)		(17,958	)		(17,967	)		(17,978	)
Average economic capital	$	5,740		$	6,277		$	5,873		$	5,662		$	5,683		$	6,161		$	6,424
Card Services
Reported net income	$	4,767		$	(8,269	)	$	1,264		$	1,939		$	1,564		$	1,289		$	(9,844	)
Adjustment related to intangibles (1)		12			54			4			3			5			15			17
Goodwill impairment charge		—			—			—			—			—			—			10,400
Adjusted net income	$	4,779		$	(8,215	)	$	1,268		$	1,942		$	1,569		$	1,304		$	573
Average allocated equity	$	22,958		$	37,073		$	22,410		$	22,671		$	23,807		$	25,173		$	33,033
Adjustment related to goodwill and a percentage of intangibles		(12,257	)		(21,649	)		(12,216	)		(12,261	)		(12,295	)		(12,327	)		(19,368	)
Average economic capital	$	10,701		$	15,424		$	10,194		$	10,410		$	11,512		$	12,846		$	13,665
Consumer Real Estate Services
Reported net income	$	(18,070	)	$	(4,010	)	$	(1,137	)	$	(14,519	)	$	(2,414	)	$	(4,937	)	$	(392	)
Adjustment related to intangibles (1)		—			2			—			—			—			—			—
Goodwill impairment charge		2,603			—			—			2,603			—			2,000			—
Adjusted net income	$	(15,467	)	$	(4,008	)	$	(1,137	)	$	(11,916	)	$	(2,414	)	$	(2,937	)	$	(392	)
Average allocated equity	$	16,688		$	26,591		$	14,240		$	17,139		$	18,736		$	24,310		$	26,493
Adjustment related to goodwill and a percentage of intangibles		(1,804	)		(4,803	)		—			(2,702	)		(2,742	)		(4,799	)		(4,801	)
Average economic capital	$	14,884		$	21,788		$	14,240		$	14,437		$	15,994		$	19,511		$	21,692
Global Commercial Banking
Reported net income	$	3,354		$	2,165		$	1,050		$	1,381		$	923		$	1,053		$	644
Adjustment related to intangibles (1)		2			4			—			1			1			1			1
Adjusted net income	$	3,356		$	2,169		$	1,050		$	1,382		$	924		$	1,054		$	645
Average allocated equity	$	40,917		$	43,790		$	40,726		$	40,522		$	41,512		$	42,997		$	42,930
Adjustment related to goodwill and a percentage of intangibles		(20,695	)		(20,678	)		(20,689	)		(20,697	)		(20,700	)		(20,703	)		(20,707	)
Average economic capital	$	20,222		$	23,112		$	20,037		$	19,825		$	20,812		$	22,294		$	22,223
Global Banking and Markets (2)
Reported net income	$	3,400		$	5,628		$	(302	)	$	1,559		$	2,143		$	669		$	1,468
Adjustment related to intangibles (1)		13			15			5			4			4			4			5
Adjusted net income	$	3,413		$	5,643		$	(297	)	$	1,563		$	2,147		$	673		$	1,473
Average allocated equity	$	38,422		$	51,083		$	36,372		$	37,458		$	41,491		$	46,935		$	50,173
Adjustment related to goodwill and a percentage of intangibles		(10,547	)		(10,061	)		(10,783	)		(10,474	)		(10,379	)		(10,240	)		(10,057	)
Average economic capital	$	27,875		$	41,022		$	25,589		$	26,984		$	31,112		$	36,695		$	40,116
Global Wealth and Investment Management
Reported net income	$	1,386		$	1,022		$	347		$	506		$	533		$	319		$	269
Adjustment related to intangibles (1)		23			66			7			7			9			20			21
Adjusted net income	$	1,409		$	1,088		$	354		$	513		$	542		$	339		$	290
Average allocated equity	$	17,783		$	18,015		$	17,839		$	17,574		$	17,938		$	18,227		$	18,039
Adjustment related to goodwill and a percentage of intangibles		(10,708	)		(10,788	)		(10,691	)		(10,706	)		(10,728	)		(10,752	)		(10,775	)
Average economic capital	$	7,075		$	7,227		$	7,148		$	6,868		$	7,210		$	7,475		$	7,264

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

(2) During the three and nine months ended September 30, 2011, Global Banking and Markets recorded a $774 million charge related to a change in the U.K. tax rate. Excluding this charge, adjusted net income would have been $477 million and $4.2 billion for the three and nine months ended September 30, 2011.

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

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

EX-99.2

Exhibit 99.2

New BAC Project and Run-off of Other Expenses

Phase 1

Deposits/ Card / Home Loans / Global Tech and Ops / Support areas

Completed evaluation in Sept ‘11, implementation began in October ‘11 Goal of annual cost savings of $5B, about 18% of the total Phase 1 base Goal of full run-rate expected in 2014

Phase 2

Commercial Banking / GWIM / Global Corporate Banking / Global Markets / Support Areas

Beginning in October 2011 with implementation expected to begin Spring 2012 Lower headcount base in Phase 2 versus Phase 1 Phase 2 businesses generally operate at a lower efficiency rate

Sold/Liquidating Businesses

Legacy Asset Servicing / International Consumer Card / Balboa / Correspondent

As foreclosures decline, certain default servicing costs are expected to be lower over time As business exits are completed related costs are expected to decline

Other Expenses

Amortization / FDIC insurance /

Litigation settlements / Waivers and assessments / Merger charges

Merger charges expected to end in 2011

Representations and Warranties

Liability for Representations and Warranties ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11

Beginning Balance $3,939 $4,402 $5,438 $6,220 $17,780

Additions for new sales 6 8 7 3 3

Provision 872 4,140 1,013 14,037 278

Charge-offs(415)(3,028)(238)(2,480)(1,790)

Other -(84) - - -

Ending Balance $4,402 $5,438 $6,220 $17,780 $16,271

New Claim Trends ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11 Mix

Pre 2005 $147 $455 $130 $210 $95 5%

2005 589 957 409 431 668 14%

2006 1,442 2,105 1,584 763 925 29%

2007 1,664 1,775 2,253 1,746 1,493 40%

2008 320 351 483 389 451 9%

Post 2008 56 105 128 158 164 3%

New Claims $4,218 $5,748 $4,987 $3,697 $3,796

% GSEs 82% 57% 88% 90% 87%

Rescinded

claims $1,531 $4,106 $934 $3,772 $1,454

Approved

repurchases 1,005 3,934 1,109 2,002 2,241

Outstanding

claims 12,948 10,687 13,564 11,580 11,672

% GSEs 53% 26% 39% 44% 40%

Outstanding Claims by Counterparty ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11

GSEs $6,819 $2,821 $5,350 $5,081 $4,721 Monolines 4,238 4,678 4,979 3,052 3,058 Other 1,891 3,188 3,235 3,447 3,893 Total $12,948 $10,687 1 $13,564 1 $11,580 1 $11,672 1

Total representations and warranties provision for the quarter was $278MM compared to $14.0B in the prior quarter. The 3Q11 provision related primarily to the GSEs and is based upon results of our ongoing evaluation of the GSEs behavior, which is continually evolving Estimated range of possible loss related to non-GSE representations and warranties exposure could be up to $5B over existing accruals at Sept 30, 2011, unchanged from 2Q11. The company is not currently able to reasonably estimate the possible loss or range of possible loss with respect to GSE representations and warranties exposure over existing accruals at Sept 30, 2011 Decrease in rescissions in 3Q11 was primarily due to the Assured settlement in 2Q11 Increase in approvals in 2Q11 was due to an increase in throughput in processing GSEs claims as a result of staffing increases which continued in 3Q11 Our repurchase experience with the GSEs continues to evolve and their repurchase requests and resolution processes has become increasingly inconsistent with our interpretation of our contractual obligations. We will continue to closely evaluate these changing behaviors and intend to repurchase loans to the extent required under the contracts and standards that govern our relationships with the GSEs

1 Includes $1.7B in demands from private-label securitization investors who do not have the right to demand repurchase of loans directly. However, inclusion of these claims does not mean we believe that the claimant has satisfied the contractual thresholds to direct the securitization trustee to take action or that these claims are otherwise procedurally or substantively valid. A claimant has filed litigation against the company relating to certain of these claims. These claims related to loans underlying securitizations included in the settlement with Bank of New York Mellon, as trustee. If the settlement is approved by the court, these claims will be resolved by the settlement.

Representations and Warranties Exposure (2004-2008 vintages)

Representations and Warranties Exposure Status as of September 30, 2011 ($B)

(2004-2008) Originations

Original Outstanding Reserves

Counterparty Have Paid 1 Commentary 2

Balance Balance Established

GSE - FHLMC (CFC) $196 $93 FHLMC Agreement

GSE All Other 922 378 Reserves established, FNMA Pipeline Agreement

Second-lien monoline 81 15 Agreement with Assured and established

reserves for exposure where we have

experience and part of RPL

Whole loans sold 55 16 Reserves established

Private label (CFC issued) 409 163 Reserves established BONY agreement pending court approval

Private label (non CFC bank issued) 242 68 Reserves established

Private label (3rd party issued) 176 69 Included in non-GSE RPL

$2,081 $802 $13 $16

Does not include litigation reserves established

Estimated Range of Possible Loss (RPL) above accruals up to $5B for non-GSE exposures at September 30, 2011 2 Exposures identified above relate to repurchase claims associated with purported representations and warranties breaches in RMBS matters. They do not include any exposures associated with related litigation matters, nor do they include any separate foreclosure costs and related costs and assessments, or any possible losses related to potential claims for breaches of performance of servicing obligations, potential securities law or fraud claims or potential indemnity or other claims against us, which could be material

1 Reserves established and RPL are subject to adjustments in future periods based on a number of factors including ultimate resolution of the BNY Mellon Settlement, estimated repurchase rates, economic conditions, home prices, consumer and counterparty behavior, and a variety of judgmental factors. For more detail, please see our latest Form10-Q on file with the SEC.

2 Please see our latest Form 10-Q on file with the SEC for a discussion of the estimated RPL.

EX-99.3

Exhibit 99.3

Supplemental Information

Third Quarter 2011

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

Bank of America Corporation and Subsidiaries

Table of Contents Page

Consolidated Financial Highlights	2
Supplemental Financial Data	3
Consolidated Statement of Income	4
Consolidated Balance Sheet	5,6
Capital Management	7
Core Net Interest Income	8
Quarterly Average Balances and Interest Rates	9,10
Year-to-Date Average Balances and Interest Rates	11,12
Debt Securities and Available-for-Sale Marketable Equity Securities	13
Quarterly Results by Business Segment	14
Year-to-Date Results by Business Segment	15
Deposits
Total Segment Results	16
Key Indicators	17
Card Services
Total Segment Results	18
Key Indicators	19
Consumer Real Estate Services
Total Segment Results	20
Quarterly and Year-to-Date Results	21
Key Indicators	22
Global Commercial Banking
Total Segment Results	23
Key Indicators	24
Global Banking & Markets
Total Segment Results	25
Key Indicators	26
Credit Default Swaps with Monoline Financial Guarantors	27
Investment Banking Product Rankings	28
Global Wealth & Investment Management
Total Segment Results	29
Key Indicators	30
All Other
Total Segment Results	31
Equity Investments	32
Outstanding Loans and Leases	33
Quarterly 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
Selected European Countries	38
Nonperforming Loans, Leases and Foreclosed Properties	39
Nonperforming Loans, Leases and Foreclosed Properties Activity	40
Quarterly Net Charge-offs and Net Charge-off Ratios	41
Year-to-Date Net Charge-offs and Net Charge-off Ratios	42
Allocation of the Allowance for Credit Losses by Product Type	43
Exhibit A: Non-GAAP Reconciliations	44,45,46
Appendix: Selected Slides from the Third Quarter 2011 Earnings Release Presentation	47

Bank of America Corporation and Subsidiaries

Consolidated Financial Highlights

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

	Nine Months Ended September 30						Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter
	2011			2010			2011			2011			2011			2010			2010
Income statement
Net interest income	$	33,915		$	39,084		$	10,490		$	11,246		$	12,179		$	12,439		$	12,435
Noninterest income		34,651			48,738			17,963			1,990			14,698			9,959			14,265
Total revenue, net of interest expense		68,566			87,822			28,453			13,236			26,877			22,398			26,700
Provision for credit losses		10,476			23,306			3,407			3,255			3,814			5,129			5,396
Goodwill impairment		2,603			10,400			—			2,603			—			2,000			10,400
Merger and restructuring charges		537			1,450			176			159			202			370			421
All other noninterest expense (1)		57,612			50,394			17,437			20,094			20,081			18,494			16,395
Income tax expense (benefit)		(2,117	)		3,266			1,201			(4,049	)		731			(2,351	)		1,387
Net income (loss)		(545	)		(994	)		6,232			(8,826	)		2,049			(1,244	)		(7,299	)
Preferred stock dividends		954			1,036			343			301			310			321			348
Net income (loss) applicable to common shareholders		(1,499	)		(2,030	)		5,889			(9,127	)		1,739			(1,565	)		(7,647	)
Diluted earnings (loss) per common share (2)		(0.15	)		(0.21	)		0.56			(0.90	)		0.17			(0.16	)		(0.77	)
Average diluted common shares issued and outstanding (2)		10,095,859			9,706,951			10,464,395			10,094,928			10,181,351			10,036,575			9,976,351
Dividends paid per common share	$	0.03		$	0.03		$	0.01		$	0.01		$	0.01		$	0.01		$	0.01
Performance ratios
Return on average assets		n/m			n/m			1.07	%		n/m			0.36	%		n/m			n/m
Return on average common shareholders’ equity		n/m			n/m			11.40			n/m			3.29			n/m			n/m
Return on average tangible common shareholders’ equity (3)		n/m			n/m			18.30			n/m			5.28			n/m			n/m
Return on average tangible shareholders’ equity (3)		n/m			n/m			17.03			n/m			5.54			n/m			n/m
At period end
Book value per share of common stock	$	20.80		$	21.17		$	20.80		$	20.29		$	21.15		$	20.99		$	21.17
Tangible book value per share of common stock (3)		13.22			12.91			13.22			12.65			13.21			12.98			12.91
Market price per share of common stock:
Closing price	$	6.12		$	13.10		$	6.12		$	10.96		$	13.33		$	13.34		$	13.10
High closing price for the period		15.25			19.48			11.09			13.72			15.25			13.56			15.67
Low closing price for the period		6.06			12.32			6.06			10.50			13.33			10.95			12.32
Market capitalization		62,023			131,442			62,023			111,060			135,057			134,536			131,442
Number of banking centers - U.S.		5,715			5,879			5,715			5,742			5,805			5,856			5,879
Number of branded ATMs - U.S.		17,752			17,929			17,752			17,817			17,886			17,926			17,929
Full-time equivalent employees		290,509			287,293			290,509			287,839			288,062			288,471			287,293

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

(2) Due to a net loss applicable to common shareholders for the second quarter of 2011 and the fourth and third quarters of 2010, and for the nine months ended September 30, 2011 and 2010, no dilutive potential common shares were included in the calculations of diluted earnings per share and average diluted common shares because they were antidilutive.

(3) Tangible equity ratios and tangible book value per share of common stock are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Supplemental Financial Data

(Dollars in millions, except per share information)

Fully taxable-equivalent basis data ⁽¹⁾

	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011				First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Net interest income	$	34,629		$	39,984		$	10,739		$	11,493			$	12,397		$	12,709		$	12,717
Total revenue, net of interest expense		69,280			88,722			28,702			13,483				27,095			22,668			26,982
Net interest yield (2)		2.50	%		2.81	%		2.32	%		2.50		%		2.67	%		2.69	%		2.72	%
Efficiency ratio		87.69			70.16			61.37			n/m				74.86			92.04			100.87
Performance ratios, excluding goodwill impairment charges (3)
	Nine Months Ended September 30									Second Quarter 2011							Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Per common share information
Earnings (loss)	$	0.11		$	0.83					$	(0.65	)					$	0.04		$	0.27
Diluted earnings (loss)		0.11			0.82						(0.65	)						0.04			0.27
Efficiency ratio (1)		83.93	%		58.43	%					n/m							83.22	%		62.33	%
Return on average assets		0.12			0.51						n/m							0.13			0.52
Return on average common shareholders’ equity		0.70			5.31						n/m							0.79			5.06
Return on average tangible common shareholders’ equity (3)		1.11			9.20						n/m							1.27			8.67
Return on average tangible shareholders’ equity (3)		1.83			9.01						n/m							1.96			8.54

(1) Fully taxable-equivalent basis is a non-GAAP measure. Fully taxable-equivalent basis is a performance measure used by management in operating the business that management believes provides investors with a more accurate picture of the interest margin for comparative purposes. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46).

(2) Calculation includes fees earned on overnight deposits placed with the Federal Reserve of $150 million and $305 million for the nine months ended September 30, 2011 and 2010; $38 million, $49 million and $63 million for the third, second and first quarters of 2011, and $63 million and $107 million for the fourth and third quarters of 2010, respectively. For more information see Quarterly and Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis on pages 9-10 and 11-12.

(3) Total noninterest expense, excluding goodwill impairment charges, net income, excluding goodwill impairment charges and net income applicable to common shareholders, excluding goodwill impairment charges and tangible equity ratios are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Consolidated Statement of Income

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

	Nine Months Ended September 30						Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter
	2011			2010			2011			2011			2011			2010			2010
Interest income
Loans and leases	$	34,454		$	38,847		$	11,205		$	11,320		$	11,929		$	12,149		$	12,485
Debt securities		7,286			8,638			1,729			2,675			2,882			3,029			2,605
Federal funds sold and securities borrowed or purchased under agreements to resell		1,698			1,346			584			597			517			486			441
Trading account assets		4,664			5,180			1,500			1,538			1,626			1,661			1,641
Other interest income		2,721			3,196			835			918			968			965			1,037
Total interest income		50,823			57,207			15,853			17,048			17,922			18,290			18,209
Interest expense
Deposits		2,386			3,103			704			843			839			894			950
Short-term borrowings		3,678			2,557			1,153			1,341			1,184			1,142			848
Trading account liabilities		1,801			2,010			547			627			627			561			635
Long-term debt		9,043			10,453			2,959			2,991			3,093			3,254			3,341
Total interest expense		16,908			18,123			5,363			5,802			5,743			5,851			5,774
Net interest income		33,915			39,084			10,490			11,246			12,179			12,439			12,435
Noninterest income
Card income		5,706			5,981			1,911			1,967			1,828			2,127			1,982
Service charges		6,112			7,354			2,068			2,012			2,032			2,036			2,212
Investment and brokerage services		9,132			8,743			3,022			3,009			3,101			2,879			2,724
Investment banking income		4,204			3,930			942			1,684			1,578			1,590			1,371
Equity investment income		4,133			3,748			1,446			1,212			1,475			1,512			357
Trading account profits		6,417			9,059			1,604			2,091			2,722			995			2,596
Mortgage banking income (loss)		(10,949	)		4,153			1,617			(13,196	)		630			(1,419	)		1,755
Insurance income		1,203			1,468			190			400			613			598			75
Gains on sales of debt securities		2,182			1,654			737			899			546			872			883
Other income (loss)		6,729			3,498			4,511			1,957			261			(1,114	)		433
Other-than-temporary impairment losses on available-for-sale debt securities:
Total other-than-temporary impairment losses		(271	)		(1,618	)		(114	)		(63	)		(111	)		(612	)		(156	)
Less: Portion of other-than-temporary impairment losses recognized in other comprehensive income		53			768			29			18			23			495			33
Net impairment losses recognized in earnings on available-for-sale debt securities		(218	)		(850	)		(85	)		(45	)		(88	)		(117	)		(123	)
Total noninterest income		34,651			48,738			17,963			1,990			14,698			9,959			14,265
Total revenue, net of interest expense		68,566			87,822			28,453			13,236			26,877			22,398			26,700
Provision for credit losses		10,476			23,306			3,407			3,255			3,814			5,129			5,396
Noninterest expense
Personnel		28,204			26,349			8,865			9,171			10,168			8,800			8,402
Occupancy		3,617			3,504			1,183			1,245			1,189			1,212			1,150
Equipment		1,815			1,845			616			593			606			607			619
Marketing		1,680			1,479			556			560			564			484			497
Professional fees		2,349			1,812			937			766			646			883			651
Amortization of intangibles		1,144			1,311			377			382			385			420			426
Data processing		1,964			1,882			626			643			695			662			602
Telecommunications		1,167			1,050			405			391			371			366			361
Other general operating		15,672			11,162			3,872			6,343			5,457			5,060			3,687
Goodwill impairment		2,603			10,400			—			2,603			—			2,000			10,400
Merger and restructuring charges		537			1,450			176			159			202			370			421
Total noninterest expense		60,752			62,244			17,613			22,856			20,283			20,864			27,216
Income (loss) before income taxes		(2,662	)		2,272			7,433			(12,875	)		2,780			(3,595	)		(5,912	)
Income tax expense (benefit)		(2,117	)		3,266			1,201			(4,049	)		731			(2,351	)		1,387
Net income (loss)	$	(545	)	$	(994	)	$	6,232		$	(8,826	)	$	2,049		$	(1,244	)	$	(7,299	)
Preferred stock dividends		954			1,036			343			301			310			321			348
Net income (loss) applicable to common shareholders	$	(1,499	)	$	(2,030	)	$	5,889		$	(9,127	)	$	1,739		$	(1,565	)	$	(7,647	)
Per common share information
Earnings (loss)	$	(0.15	)	$	(0.21	)	$	0.58		$	(0.90	)	$	0.17		$	(0.16	)	$	(0.77	)
Diluted earnings (loss) (1)		(0.15	)		(0.21	)		0.56			(0.90	)		0.17			(0.16	)		(0.77	)
Dividends paid		0.03			0.03			0.01			0.01			0.01			0.01			0.01
Average common shares issued and outstanding		10,095,859			9,706,951			10,116,284			10,094,928			10,075,875			10,036,575			9,976,351
Average diluted common shares issued and outstanding (1)		10,095,859			9,706,951			10,464,395			10,094,928			10,181,351			10,036,575			9,976,351

(1) Due to a net loss applicable to common shareholders for the second quarter of 2011, the fourth and third quarters of 2010, and for the nine months ended September 30, 2011 and 2010, the impact of antidilutive equity instruments was excluded from diluted earnings per share and average diluted common shares.

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

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

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet

(Dollars in millions)

	September 30 2011			June 30 2011			September 30 2010
Assets
Cash and cash equivalents	$	82,865		$	119,527		$	131,116
Time deposits placed and other short-term investments		18,330			20,291			18,946
Federal funds sold and securities borrowed or purchased under agreements to resell		249,998			235,181			271,818
Trading account assets		176,398			196,939			207,695
Derivative assets		79,044			66,598			84,684
Debt securities:
Available-for-sale		324,267			330,871			322,424
Held-to-maturity, at cost		26,458			181			438
Total debt securities		350,725			331,052			322,862
Loans and leases		932,531			941,257			933,910
Allowance for loan and lease losses		(35,082	)		(37,312	)		(43,581	)
Loans and leases, net of allowance		897,449			903,945			890,329
Premises and equipment, net		13,552			13,793			14,320
Mortgage servicing rights (includes $7,880, $12,372 and $12,251 measured at fair value)		8,037			12,642			12,540
Goodwill		70,832			71,074			75,602
Intangible assets		8,764			9,176			10,402
Loans held-for-sale		23,085			20,092			33,276
Customer and other receivables		89,302			86,550			78,599
Other assets		151,247			174,459			187,471
Total assets	$	2,219,628		$	2,261,319		$	2,339,660
Assets of consolidated VIEs included in total assets above (substantially all pledged as collateral)
Trading account assets	$	8,911		$	10,746		$	11,186
Derivative assets		1,611			2,293			2,838
Available-for-sale debt securities		256			251			7,684
Loans and leases		146,023			151,928			132,106
Allowance for loan and lease losses		(5,661	)		(6,367	)		(9,831	)
Loans and leases, net of allowance		140,362			145,561			122,275
Loans held-for-sale		3,904			1,561			3,301
All other assets		5,414			7,115			7,910
Total assets of consolidated VIEs	$	160,458		$	167,527		$	155,194

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

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

Bank of America Corporation and Subsidiaries

Consolidated Balance Sheet (continued)

(Dollars in millions)

	September 30 2011			June 30 2011		September 30 2010
Liabilities
Deposits in U.S. offices:
Noninterest-bearing	$	321,253		$	301,558	$	265,672
Interest-bearing		629,176			647,480		634,784
Deposits in non-U.S. offices:
Noninterest-bearing		6,581			6,555		6,297
Interest-bearing		84,343			82,815		70,569
Total deposits		1,041,353			1,038,408		977,322
Federal funds purchased and securities loaned or sold under agreements to repurchase		248,116			239,521		296,605
Trading account liabilities		68,026			74,989		90,010
Derivative liabilities		59,304			54,414		61,656
Commercial paper and other short-term borrowings		33,869			50,632		64,818
Accrued expenses and other liabilities (includes $790, $897 and $1,294 of reserve for unfunded lending commitments)		139,743			154,520		139,896
Long-term debt		398,965			426,659		478,858
Total liabilities		1,989,376			2,039,143		2,109,165
Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 3,993,660, 3,943,660 and 3,960,660 shares		19,480			16,562		18,104
Common stock and additional paid-in capital, $0.01 par value; authorized - 12,800,000,000, 12,800,000,000 and 12,800,000,000 shares; issued and outstanding - 10,134,431,514, 10,133,189,501 and 10,033,705,046 shares		153,801			151,567		149,563
Retained earnings		59,043			53,254		62,515
Accumulated other comprehensive income (loss)		(2,071	)		793		336
Other		(1	)		—		(23	)
Total shareholders’ equity		230,252			222,176		230,495
Total liabilities and shareholders’ equity	$	2,219,628		$	2,261,319	$	2,339,660
Liabilities of consolidated VIEs included in total liabilities above
Commercial paper and other short-term borrowings	$	6,211		$	5,421	$	13,222
Long-term debt		56,361			64,745		79,228
All other liabilities		1,124			1,127		1,954
Total liabilities of consolidated VIEs	$	63,696		$	71,293	$	94,404

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

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

Bank of America Corporation and Subsidiaries

Capital Management

(Dollars in millions)

	Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
Risk-based capital (1):
Tier 1 common	$	117,658		$	114,684		$	123,882		$	125,139		$	124,756
Tier 1 capital		156,074			153,134			162,295			163,626			164,763
Total capital		215,596			217,986			229,094			229,594			231,120
Risk-weighted assets		1,359,564			1,392,747			1,433,377			1,455,951			1,476,774
Tier 1 common equity ratio (2)		8.65	%		8.23	%		8.64	%		8.60	%		8.45	%
Tier 1 capital ratio		11.48			11.00			11.32			11.24			11.16
Total capital ratio		15.86			15.65			15.98			15.77			15.65
Tier 1 leverage ratio		7.11			6.86			7.25			7.21			7.21
Tangible equity ratio (3)		7.16			6.63			6.85			6.75			6.54
Tangible common equity ratio (3)		6.25			5.87			6.10			5.99			5.74

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

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

(3) Tangible equity ratio equals period end tangible shareholders’ equity divided by period end tangible assets. Tangible common equity equals period end tangible common shareholders’ equity divided by period end tangible assets. Tangible shareholders’ equity and tangible assets are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the Corporation. (See Exhibit A: Non-GAAP Reconciliations - Reconciliation to GAAP Financial Measures on pages 44-46.)

* Preliminary data on risk-based capital

Outstanding Common Stock

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

There is no existing Board authorized share repurchase program.

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

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

Bank of America Corporation and Subsidiaries

Core Net Interest Income

(Dollars in millions)

	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2011				2010				2011				2011				2011				2010				2010
Net interest income (1)
As reported (2)	$	34,629			$	39,984			$	10,739			$	11,493			$	12,397			$	12,709			$	12,717
Impact of market-based net interest income (3)		(2,915	)			(3,280	)			(950	)			(914	)			(1,051	)			(1,150	)			(1,045	)
Core net interest income	$	31,714			$	36,704			$	9,789			$	10,579			$	11,346			$	11,559			$	11,672
Average earning assets (4)
As reported	$	1,851,736			$	1,902,303			$	1,841,135			$	1,844,525			$	1,869,863			$	1,883,539			$	1,863,819
Impact of market-based earning assets (3)		(459,532	)			(523,309	)			(447,560	)			(461,775	)			(469,503	)			(481,629	)			(503,890	)
Core average earning assets	$	1,392,204			$	1,378,994			$	1,393,575			$	1,382,750			$	1,400,360			$	1,401,910			$	1,359,929
Net interest yield contribution (1, 4)
As reported (2)		2.50		%		2.81		%		2.32		%		2.50		%		2.67		%		2.69		%		2.72		%
Impact of market-based activities (3)		0.54				0.74				0.47				0.56				0.59				0.60				0.70
Core net interest yield on earning assets		3.04		%		3.55		%		2.79		%		3.06		%		3.26		%		3.29		%		3.42		%

(1) Fully taxable-equivalent basis

(2) Balance and calculation include fees earned on overnight deposits placed with the Federal Reserve of $150 million and $305 million for the nine months ended September 30, 2011 and 2010; $38 million, $49 million and $63 million for the third, second and first quarters of 2011, and $63 million and $107 million for the fourth and third quarters of 2010, respectively.

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

(4) Calculated on an annualized basis.

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

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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)

	Third Quarter 2011							Second Quarter 2011							Third Quarter 2010
	Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (1)	$	26,743	$	87		1.31	%	$	27,298	$	106		1.56	%	$	23,233	$	86		1.45	%
Federal funds sold and securities borrowed or purchased under agreements to resell		256,143		584		0.90			259,069		597		0.92			254,820		441		0.69
Trading account assets		180,438		1,543		3.40			186,760		1,576		3.38			210,529		1,692		3.20
Debt securities (2)		344,327		1,744		2.02			335,269		2,696		3.22			328,097		2,646		3.22
Loans and leases (3):
Residential mortgage (4)		268,494		2,856		4.25			265,420		2,763		4.16			237,292		2,797		4.71
Home equity		129,125		1,238		3.81			131,786		1,261		3.83			143,083		1,457		4.05
Discontinued real estate		15,923		134		3.36			15,997		129		3.22			13,632		122		3.56
U.S. credit card		103,671		2,650		10.14			106,164		2,718		10.27			115,251		3,113		10.72
Non-U.S. credit card		25,434		697		10.88			27,259		760		11.18			27,047		875		12.84
Direct/Indirect consumer (5)		90,280		915		4.02			89,403		945		4.24			95,692		1,130		4.68
Other consumer (6)		2,795		43		6.07			2,745		47		6.76			2,955		47		6.35
Total consumer		635,722		8,533		5.34			638,774		8,623		5.41			634,952		9,541		5.98
U.S. commercial		191,439		1,809		3.75			190,479		1,827		3.85			192,306		2,040		4.21
Commercial real estate (7)		42,931		360		3.33			45,762		382		3.35			55,660		452		3.22
Commercial lease financing		21,342		240		4.51			21,284		235		4.41			21,402		255		4.78
Non-U.S. commercial		50,598		349		2.73			42,214		339		3.22			30,540		282		3.67
Total commercial		306,310		2,758		3.58			299,739		2,783		3.72			299,908		3,029		4.01
Total loans and leases		942,032		11,291		4.77			938,513		11,406		4.87			934,860		12,570		5.35
Other earning assets		91,452		814		3.54			97,616		866		3.56			112,280		949		3.36
Total earning assets (8)		1,841,135		16,063		3.47			1,844,525		17,247		3.75			1,863,819		18,384		3.93
Cash and cash equivalents (1)		102,573		38					115,956		49					155,784		107
Other assets, less allowance for loan and lease losses		357,746							378,629							359,794
Total assets	$	2,301,454						$	2,339,110						$	2,379,397

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

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

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

(4) Includes non-U.S. residential mortgages of $91 million and $94 million in the third and second quarters of 2011, and $502 million in the third quarter of 2010.

(5) Includes non-U.S. consumer loans of $8.6 billion and $8.7 billion in the third and second quarters of 2011, and $7.7 billion in the third quarter of 2010.

(6) Includes consumer finance loans of $1.8 billion for both the third and second quarters of 2011, and $2.0 billion in the third quarter of 2010; other non-U.S. consumer loans of $932 million and $840 million in the third and second quarters of 2011, and $788 million in the third quarter of 2010; and consumer overdrafts of $107 million and $79 million in the third and second quarters of 2011, and $123 million in the third quarter of 2010.

(7) Includes U.S. commercial real estate loans of $40.7 billion and $43.4 billion in the third and second quarters of 2011, and $53.1 billion in the third quarter of 2010, and non-U.S. commercial real estate loans of $2.2 billion and $2.3 billion in the third and second quarters of 2011, and $2.5 billion in the third quarter of 2010.

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

	Third Quarter 2011			Second Quarter 2011			Third Quarter 2010
Federal funds sold and securities borrowed or purchased under agreements to resell	$	43		$	43		$	75
Trading account assets		—			(88	)		(62	)
Debt securities		(1,049	)		(681	)		(640	)
U.S. commercial		(19	)		(11	)		(16	)
Non-U.S. commercial		—			(2	)		—
Net hedge expense on assets	$	(1,025	)	$	(739	)	$	(643	)

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

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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)

	Third Quarter 2011							Second Quarter 2011							Third Quarter 2010
	Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	41,256	$	21		0.19	%	$	41,668	$	31		0.30	%	$	37,008	$	36		0.39	%
NOW and money market deposit accounts		473,391		248		0.21			478,690		304		0.25			442,906		359		0.32
Consumer CDs and IRAs		108,359		244		0.89			113,728		281		0.99			132,687		377		1.13
Negotiable CDs, public funds and other time deposits		18,547		5		0.12			13,842		42		1.22			17,326		57		1.30
Total U.S. interest-bearing deposits		641,553		518		0.32			647,928		658		0.41			629,927		829		0.52
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries		21,037		34		0.65			19,234		37		0.77			17,431		38		0.86
Governments and official institutions		2,043		2		0.32			2,131		2		0.38			2,055		2		0.36
Time, savings and other		64,271		150		0.93			64,889		146		0.90			54,373		81		0.59
Total non-U.S. interest-bearing deposits		87,351		186		0.85			86,254		185		0.86			73,859		121		0.65
Total interest-bearing deposits		728,904		704		0.38			734,182		843		0.46			703,786		950		0.54
Federal funds purchased, securities loaned or sold under agreements to repurchase and other short-term borrowings		303,234		1,152		1.51			338,692		1,342		1.59			391,148		848		0.86
Trading account liabilities		87,841		547		2.47			96,108		627		2.62			95,265		635		2.65
Long-term debt		420,273		2,959		2.82			435,144		2,991		2.75			485,588		3,341		2.74
Total interest-bearing liabilities (1)		1,540,252		5,362		1.39			1,604,126		5,803		1.45			1,675,787		5,774		1.37
Noninterest-bearing sources:
Noninterest-bearing deposits		322,416							301,762							270,060
Other liabilities		216,376							198,155							199,572
Shareholders’ equity		222,410							235,067							233,978
Total liabilities and shareholders’ equity	$	2,301,454						$	2,339,110						$	2,379,397
Net interest spread						2.08	%						2.30	%						2.56	%
Impact of noninterest-bearing sources						0.23							0.19							0.13
Net interest income/yield on earning assets (2)			$	10,701		2.31	%			$	11,444		2.49	%			$	12,610		2.69	%

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

	Third Quarter 2011			Second Quarter 2011			Third Quarter 2010
NOW and money market deposit accounts	$	—		$	—		$	(1	)
Consumer CDs and IRAs		44			46			49
Negotiable CDs, public funds and other time deposits		3			3			3
Banks located in non-U.S. countries		13			16			19
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		471			511			148
Long-term debt		(1,162	)		(1,201	)		(1,238	)
Net hedge income on liabilities	$	(631	)	$	(625	)	$	(1,020	)

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

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

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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)

	Nine Months Ended September 30
	2011							2010
	Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments (1)	$	28,428	$	281		1.33	%	$	27,175	$	217		1.06	%
Federal funds sold and securities borrowed or purchased under agreements to resell		247,635		1,698		0.92			261,444		1,346		0.69
Trading account assets		195,931		4,788		3.26			212,985		5,340		3.35
Debt securities (2)		338,512		7,357		2.90			317,906		8,785		3.69
Loans and leases (3):
Residential mortgage (4)		265,345		8,500		4.27			242,922		8,879		4.87
Home equity		132,308		3,834		3.87			147,911		4,580		4.14
Discontinued real estate		14,951		373		3.32			14,009		409		3.89
U.S. credit card		106,569		8,205		10.29			119,744		9,604		10.72
Non-U.S. credit card		26,767		2,236		11.17			28,198		2,635		12.50
Direct/Indirect consumer (5)		89,927		2,853		4.24			98,368		3,665		4.98
Other consumer (6)		2,764		135		6.47			2,973		141		6.34
Total consumer		638,631		26,136		5.47			654,125		29,913		6.11
U.S. commercial		191,091		5,562		3.89			196,665		6,015		4.09
Commercial real estate (7)		45,664		1,179		3.45			62,755		1,568		3.34
Commercial lease financing		21,419		797		4.96			21,448		820		5.10
Non-U.S. commercial		43,043		987		3.07			29,309		802		3.66
Total commercial		301,217		8,525		3.78			310,177		9,205		3.97
Total loans and leases		939,848		34,661		4.93			964,302		39,118		5.42
Other earning assets		101,382		2,602		3.43			118,491		2,996		3.38
Total earning assets (8)		1,851,736		51,387		3.72			1,902,303		57,802		4.06
Cash and cash equivalents (1)		118,792		150					187,310		305
Other assets, less allowance for loan and lease losses		355,704							373,364
Total assets	$	2,326,232						$	2,462,977

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

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

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

(4) Includes non-U.S. residential mortgages of $92 million and $515 million for the nine months ended September 30, 2011 and 2010.

(5) Includes non-U.S. consumer loans of $8.5 billion and $7.9 billion for the nine months ended September 30, 2011 and 2010.

(6) Includes consumer finance loans of $1.8 billion and $2.1 billion, other non-U.S. consumer loans of $851 million and $711 million, and consumer overdrafts of $88 million and $137 million for the nine months ended September 30, 2011 and 2010.

(7) Includes U.S. commercial real estate loans of $43.3 billion and $60.1 billion, and non-U.S. commercial real estate loans of $2.4 billion and $2.7 billion for the nine months ended September 30, 2011 and 2010.

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

	Nine Months Ended September 30
	2011			2010
Time deposits placed and other short-term investments	$	—		$	(1	)
Federal funds sold and securities borrowed or purchased under agreements to resell		141			228
Trading account assets		(158	)		(151	)
Debt securities		(2,092	)		(1,386	)
U.S. commercial		(41	)		(84	)
Non-U.S commercial		(2	)		—
Net hedge expense on assets	$	(2,152	)	$	(1,394	)

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

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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)

	Nine Months Ended September 30
	2011							2010
	Average Balance		Interest Income/ Expense		Yield/ Rate			Average Balance		Interest Income/ Expense		Yield/ Rate
Interest-bearing liabilities
U.S. interest-bearing deposits:
Savings	$	40,618	$	84		0.28	%	$	36,482	$	122		0.45	%
NOW and money market deposit accounts		476,002		868		0.24			433,858		1,072		0.33
Consumer CDs and IRAs		113,428		825		0.97			148,644		1,385		1.25
Negotiable CDs, public funds and other time deposits		15,478		86		0.74			18,138		179		1.32
Total U.S. interest-bearing deposits		645,526		1,863		0.39			637,122		2,758		0.58
Non-U.S. interest-bearing deposits:
Banks located in non-U.S. countries		20,600		109		0.71			18,532		106		0.76
Governments and official institutions		2,159		6		0.35			3,952		8		0.27
Time, savings and other		63,212		408		0.86			53,816		231		0.57
Total non-U.S. interest-bearing deposits		85,971		523		0.81			76,300		345		0.60
Total interest-bearing deposits		731,497		2,386		0.44			713,422		3,103		0.58
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		337,583		3,678		1.46			450,748		2,557		0.76
Trading account liabilities		89,302		1,801		2.70			95,159		2,010		2.82
Long-term debt		431,902		9,043		2.80			498,794		10,453		2.80
Total interest-bearing liabilities (1)		1,590,284		16,908		1.42			1,758,123		18,123		1.38
Noninterest-bearing sources:
Noninterest-bearing deposits		305,408							268,710
Other liabilities		201,155							203,679
Shareholders’ equity		229,385							232,465
Total liabilities and shareholders’ equity	$	2,326,232						$	2,462,977
Net interest spread						2.30	%						2.68	%
Impact of noninterest-bearing sources						0.19							0.11
Net interest income/yield on earning assets (2)			$	34,479		2.49	%			$	39,679		2.79	%

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

	Nine Months Ended September 30
	2011			2010
NOW and money market deposit accounts	$	(1	)	$	(1	)
Consumer CDs and IRAs		137			139
Negotiable CDs, public funds and other time deposits		10			10
Banks located in non-U.S. countries		47			53
Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings		1,427			326
Long-term debt		(3,497	)		(3,346	)
Net hedge income on liabilities	$	(1,877	)	$	(2,819	)

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

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

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

Bank of America Corporation and Subsidiaries

Debt Securities and Available-for-Sale Marketable Equity Securities

(Dollars in millions)

	September 30, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	59,905	$	874	$	(748	)	$	60,031
Mortgage-backed securities:
Agency		155,008		5,106		(35	)		160,079
Agency collateralized mortgage obligations		52,197		1,156		(115	)		53,238
Non-agency residential		17,707		394		(507	)		17,594
Non-agency commercial		5,968		634		(3	)		6,599
Non-U.S. securities		4,914		61		(12	)		4,963
Corporate bonds		3,982		149		(15	)		4,116
Other taxable securities (1)		12,444		51		(27	)		12,468
Total taxable securities	$	312,125	$	8,425	$	(1,462	)	$	319,088
Tax-exempt securities		5,299		16		(136	)		5,179
Total available-for-sale debt securities	$	317,424	$	8,441	$	(1,598	)	$	324,267
Held-to-maturity debt securities		26,458		88		(38	)		26,508
Total debt securities	$	343,882	$	8,529	$	(1,636	)	$	350,775
Available-for-sale marketable equity securities (2)	$	3,880	$	2,715	$	(25	)	$	6,570
	June 30, 2011
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Available-for-sale debt securities
U.S. Treasury and agency securities	$	49,874	$	684	$	(1,289	)	$	49,269
Mortgage-backed securities:
Agency		180,151		3,128		(1,663	)		181,616
Agency collateralized mortgage obligations		48,212		930		(31	)		49,111
Non-agency residential		19,564		568		(557	)		19,575
Non-agency commercial		6,018		702		(2	)		6,718
Non-U.S. securities		4,314		62		(16	)		4,360
Corporate bonds		4,388		154		(4	)		4,538
Other taxable securities (1)		12,010		79		(66	)		12,023
Total taxable securities	$	324,531	$	6,307	$	(3,628	)	$	327,210
Tax-exempt securities		3,808		18		(165	)		3,661
Total available-for-sale debt securities	$	328,339	$	6,325	$	(3,793	)	$	330,871
Held-to-maturity debt securities		181		—		—			181
Total debt securities	$	328,520	$	6,325	$	(3,793	)	$	331,052
Available-for-sale marketable equity securities (2)	$	8,536	$	10,445	$	(19	)	$	18,962

(1) Substantially all asset-backed securities.

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

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

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

Bank of America Corporation and Subsidiaries

Quarterly Results by Business Segment

(Dollars in millions)

	Third Quarter 2011
	Total Corporation			Deposits		Card Services			Consumer Real  Estate Services			Global Commercial Banking			Global Banking  & Markets			GWIM		All Other
Net interest income (1)	$	10,739		$	1,987	$	2,823		$	923		$	1,743		$	1,846		$	1,411	$	6
Noninterest income		17,963			1,132		1,684			1,899			790			3,376			2,819		6,263
Total revenue, net of interest expense		28,702			3,119		4,507			2,822			2,533			5,222			4,230		6,269
Provision for credit losses		3,407			52		1,037			918			(150	)		15			162		1,373
Noninterest expense		17,613			2,627		1,458			3,852			1,018			4,480			3,516		662
Income (loss) before income taxes		7,682			440		2,012			(1,948	)		1,665			727			552		4,234
Income tax expense (benefit) (1)		1,450			164		748			(811	)		615			1,029			205		(500	)
Net income (loss)	$	6,232		$	276	$	1,264		$	(1,137	)	$	1,050		$	(302	)	$	347	$	4,734
Average
Total loans and leases	$	942,032			n/m	$	123,547		$	120,079		$	188,037		$	120,143		$	102,785	$	286,753
Total assets (2)		2,301,454		$	447,053		130,298			182,843			299,542			748,289			290,765		202,664
Total deposits		1,051,320			422,331		n/m			n/m			173,837			121,389			255,660		52,853
Period end
Total loans and leases	$	932,531			n/m	$	122,223		$	119,823		$	188,650		$	124,527		$	102,361	$	274,269
Total assets (2)		2,219,628		$	448,906		128,759			188,769			284,897			686,035			280,686		201,576
Total deposits		1,041,353			424,267		n/m			n/m			171,297			115,724			251,027		52,947
	Second Quarter 2011
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	11,493		$	2,281	$	2,905		$	579		$	1,827		$	1,787		$	1,571	$	543
Noninterest income (loss)		1,990			1,020		1,951			(11,894	)		984			5,005			2,919		2,005
Total revenue, net of interest expense		13,483			3,301		4,856			(11,315	)		2,811			6,792			4,490		2,548
Provision for credit losses		3,255			31		302			1,507			(417	)		(82	)		72		1,842
Noninterest expense		22,856			2,609		1,532			8,645			1,069			4,708			3,631		662
Income (loss) before income taxes		(12,628	)		661		3,022			(21,467	)		2,159			2,166			787		44
Income tax expense (benefit) (1)		(3,802	)		237		1,083			(6,948	)		778			607			281		160
Net income (loss)	$	(8,826	)	$	424	$	1,939		$	(14,519	)	$	1,381		$	1,559		$	506	$	(116	)
Average
Total loans and leases	$	938,513			n/m	$	127,344		$	121,683		$	189,347		$	109,473		$	102,200	$	287,840
Total assets (2)		2,339,110		$	451,554		132,024			198,030			320,436			748,964			289,050		199,052
Total deposits		1,035,944			426,684		n/m			n/m			166,481			116,899			255,219		48,093
Period end
Total loans and leases	$	941,257			n/m	$	125,140		$	121,553		$	189,435		$	114,165		$	102,878	$	287,424
Total assets (2)		2,261,319		$	449,123		132,372			185,398			280,296			689,306			284,294		240,530
Total deposits		1,038,408			424,579		n/m			n/m			170,156			122,348			255,580		43,759
	Third Quarter 2010
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	12,717		$	1,954	$	3,500		$	1,339		$	1,853		$	1,884		$	1,345	$	842
Noninterest income		14,265			1,192		1,877			2,273			780			5,189			2,553		401
Total revenue, net of interest expense		26,982			3,146		5,377			3,612			2,633			7,073			3,898		1,243
Provision for credit losses		5,396			62		3,066			1,302			556			(157	)		127		440
Noninterest expense		27,216			2,774		11,834			2,923			1,061			4,311			3,345		968
Income (loss) before income taxes		(5,630	)		310		(9,523	)		(613	)		1,016			2,919			426		(165	)
Income tax expense (benefit) (1)		1,669			112		321			(221	)		372			1,451			157		(523	)
Net income (loss)	$	(7,299	)	$	198	$	(9,844	)	$	(392	)	$	644		$	1,468		$	269	$	358
Average
Total loans and leases	$	934,860			n/m	$	141,092		$	127,712		$	199,320		$	98,874		$	99,103	$	268,056
Total assets (2)		2,379,397		$	436,479		149,156			221,908			318,404			743,264			265,641		244,545
Total deposits		973,846			411,117		n/m			n/m			148,605			96,040			234,807		55,466
Period end
Total loans and leases	$	933,910			n/m	$	138,492		$	127,700		$	196,333		$	99,525		$	99,511	$	271,672
Total assets (2)		2,339,660		$	434,854		140,257			214,498			304,543			745,863			266,489		233,156
Total deposits		977,322			409,365		n/m			n/m			150,994			99,462			240,381		47,942

(1) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Year-to-Date Results by Business Segment

(Dollars in millions)

	Nine Months Ended September 30, 2011
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	34,629		$	6,473	$	8,743		$	2,398		$	5,420		$	5,668		$	4,551	$	1,376
Noninterest income (loss)		34,651			3,136		5,342			(8,828	)		2,577			14,228			8,661		9,535
Total revenue, net of interest expense		69,280			9,609		14,085			(6,430	)		7,997			19,896			13,212		10,911
Provision for credit losses		10,476			116		1,934			3,523			(488	)		(269	)		280		5,380
Noninterest expense		60,752			7,835		4,632			17,297			3,195			13,892			10,746		3,155
Income (loss) before income taxes		(1,948	)		1,658		7,519			(27,250	)		5,290			6,273			2,186		2,376
Income tax expense (benefit) (1)		(1,403	)		607		2,752			(9,180	)		1,936			2,873			800		(1,191	)
Net income (loss)	$	(545	)	$	1,051	$	4,767		$	(18,070	)	$	3,354		$	3,400		$	1,386	$	3,567
Average
Total loans and leases	$	939,848			n/m	$	127,755		$	120,772		$	189,924		$	111,167		$	101,952	$	287,627
Total assets (2)		2,326,232		$	447,369		132,657			196,637			310,804			735,438			292,359		210,968
Total deposits		1,036,905			422,452		n/m			n/m			166,895			116,364			256,455		50,367
Period end
Total loans and leases	$	932,531			n/m	$	122,223		$	119,823		$	188,650		$	124,527		$	102,361	$	274,269
Total assets (2)		2,219,628		$	448,906		128,759			188,769			284,897			686,035			280,686		201,576
Total deposits		1,041,353			424,267		n/m			n/m			171,297			115,724			251,027		52,947
	Nine Months Ended September 30, 2010
	Total Corporation			Deposits		Card Services			Consumer Real Estate Services			Global Commercial Banking			Global Banking & Markets			GWIM		All Other
Net interest income (1)	$	39,984		$	6,272	$	11,002		$	3,538		$	6,143		$	6,011		$	4,252	$	2,766
Noninterest income		48,738			4,287		5,982			6,311			2,468			16,573			7,876		5,241
Total revenue, net of interest expense		88,722			10,559		16,984			9,849			8,611			22,584			12,128		8,007
Provision for credit losses		23,306			160		9,116			7,292			2,115			(54	)		491		4,186
Noninterest expense		62,244			7,926		14,895			8,906			3,068			13,213			9,737		4,499
Income (loss) before income taxes		3,172			2,473		(7,027	)		(6,349	)		3,428			9,425			1,900		(678	)
Income tax expense (benefit) (1)		4,166			911		1,242			(2,339	)		1,263			3,797			878		(1,586	)
Net income (loss)	$	(994	)	$	1,562	$	(8,269	)	$	(4,010	)	$	2,165		$	5,628		$	1,022	$	908
Average
Total loans and leases	$	964,302			n/m	$	147,893		$	130,684		$	206,699		$	97,915		$	98,920	$	281,478
Total assets (2)		2,462,977		$	440,598		157,030			227,323			307,484			763,797			259,587		307,158
Total deposits		982,132			415,458		n/m			n/m			145,931			95,568			227,613		72,206
Period end
Total loans and leases	$	933,910			n/m	$	138,492		$	127,700		$	196,333		$	99,525		$	99,511	$	271,672
Total assets (2)		2,339,660		$	434,854		140,257			214,498			304,543			745,863			266,489		233,156
Total deposits		977,322			409,365		n/m			n/m			150,994			99,462			240,381		47,942

(1) Fully taxable-equivalent basis

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Deposits Segment Results

(Dollars in millions)

	Nine Months Ended						Third			Second			First			Fourth				Third
	September 30						Quarter			Quarter			Quarter			Quarter				Quarter
	2011			2010			2011			2011			2011			2010				2010
Net interest income (1)	$	6,473		$	6,272		$	1,987		$	2,281		$	2,205		$	2,006			$	1,954
Noninterest income:
Service charges		2,959			4,111			1,071			965			923			947				1,138
All other income		177			176			61			55			61			50				54
Total noninterest income		3,136			4,287			1,132			1,020			984			997				1,192
Total revenue, net of interest expense		9,609			10,559			3,119			3,301			3,189			3,003				3,146
Provision for credit losses		116			160			52			31			33			41				62
Noninterest expense		7,835			7,926			2,627			2,609			2,599			3,270				2,774
Income (loss) before income taxes		1,658			2,473			440			661			557			(308	)			310
Income tax expense (benefit) (1)		607			911			164			237			206			(108	)			112
Net income (loss)	$	1,051		$	1,562		$	276		$	424		$	351		$	(200	)		$	198
Net interest yield (1)		2.06	%		2.02	%		1.88	%		2.15	%		2.14	%		1.93		%		1.89	%
Return on average equity		5.93			8.61			4.61			7.20			6.02			n/m				3.23
Return on average economic capital (2)		24.54			33.45			18.78			29.98			25.14			n/m				12.40
Efficiency ratio (1)		81.54			75.07			84.24			79.05			81.49			108.87				88.17
Balance sheet
Average
Total earning assets (3)	$	420,975		$	414,212		$	420,310		$	425,363		$	417,218		$	411,765			$	410,330
Total assets (3)		447,369			440,598			447,053			451,554			443,461			438,346				436,479
Total deposits		422,452			415,458			422,331			426,684			418,298			413,150				411,117
Allocated equity		23,692			24,254			23,820			23,612			23,641			24,128				24,402
Economic capital (2)		5,740			6,277			5,873			5,662			5,683			6,161				6,424
Period end
Total earning assets (3)	$	422,197		$	408,734		$	422,197		$	422,646		$	429,956		$	414,215			$	408,734
Total assets (3)		448,906			434,854			448,906			449,123			456,248			440,954				434,854
Total deposits		424,267			409,365			424,267			424,579			431,022			415,189				409,365

(1) Fully taxable-equivalent basis

(2) Return on average economic capital is calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations—Reconciliations to GAAP Financial Measures on pages 44-46.)

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Deposits Key Indicators

(Dollars in millions, except as noted)

	Nine Months Ended						Third			Second			First			Fourth			Third
	September 30						Quarter			Quarter			Quarter			Quarter			Quarter
	2011			2010			2011			2011			2011			2010			2010
Average deposit balances
Checking	$	164,495		$	149,632		$	166,304		$	166,666		$	160,452		$	154,333		$	150,117
Savings		38,189			34,656			38,636			39,209			36,701			35,120			35,135
MMS		127,748			120,671			128,728			128,546			125,941			124,446			122,996
CDs and IRAs		88,724			107,337			85,377			88,912			91,954			95,860			99,702
Non-U.S. and other		3,296			3,162			3,286			3,351			3,250			3,391			3,167
Total average deposit balances	$	422,452		$	415,458		$	422,331		$	426,684		$	418,298		$	413,150		$	411,117
Deposit spreads (excludes noninterest costs)
Checking		3.36	%		3.80	%		3.21	%		3.36	%		3.50	%		3.60	%		3.76	%
Savings		3.33			3.69			3.25			3.32			3.42			3.51			3.63
MMS		1.48			1.05			1.42			1.46			1.55			1.55			1.53
CDs and IRAs		0.37			0.20			0.40			0.36			0.35			0.32			0.28
Non-U.S. and other		3.81			4.33			3.63			3.83			3.97			4.10			4.24
Total deposit spreads		2.15			2.05			2.10			2.16			2.20			2.20			2.23
Operating cost per dollar deposit (1)		2.51	%		2.55	%		2.47	%		2.45	%		2.60	%		2.65	%		2.68	%
Client brokerage assets (2)	$	61,918		$	59,984		$	61,918		$	69,000		$	66,703		$	63,597		$	59,984
Online banking (end of period)
Active accounts (units in thousands)		29,917			29,313			29,917			29,660			30,065			29,345			29,313
Active billpay accounts (units in thousands)		15,464			14,941			15,464			15,356			15,345			14,985			14,941
Online Only (units in thousands)		14,453			14,373			14,453			14,305			14,719			14,359			14,373

(1) Operating cost per dollar deposit represents annualized noninterest expense, excluding certain expenses, as a percentage of average deposits.

(2) During the first quarter of 2011, the Merrill Edge business was moved from GWIM along with historical results.

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

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

Bank of America Corporation and Subsidiaries

Card Services Segment Results ⁽¹⁾

(Dollars in millions)

	Nine Months Ended September 30							Third Quarter				Second Quarter			First Quarter			Fourth Quarter			Third Quarter
	2011			2010				2011				2011			2011			2010			2010
Net interest income (2)	$	8,743		$	11,002			$	2,823			$	2,905		$	3,015		$	3,412		$	3,500
Noninterest income:
Card income		4,980			5,206				1,720				1,684			1,576			1,843			1,731
All other income (loss)		362			776				(36	)			267			131			102			146
Total noninterest income		5,342			5,982				1,684				1,951			1,707			1,945			1,877
Total revenue, net of interest expense		14,085			16,984				4,507				4,856			4,722			5,357			5,377
Provision for credit losses		1,934			9,116				1,037				302			595			1,846			3,066
Goodwill impairment		—			10,400				—				—			—			—			10,400
All other noninterest expense		4,632			4,495				1,458				1,532			1,642			1,463			1,434
Income (loss) before income taxes		7,519			(7,027	)			2,012				3,022			2,485			2,048			(9,523	)
Income tax expense (2)		2,752			1,242				748				1,083			921			759			321
Net income (loss)	$	4,767		$	(8,269	)		$	1,264			$	1,939		$	1,564		$	1,289		$	(9,844	)
Net interest yield (2)		9.07	%		9.86		%		8.98		%		9.07	%		9.16	%		9.83	%		9.76		%
Return on average equity		27.76			n/m				22.36				34.31			26.65			20.31			n/m
Return on average economic capital (3)		59.71			18.94				49.31				74.83			55.29			40.28			16.63
Efficiency ratio (2)		32.88			87.70				32.35				31.54			34.77			27.30			n/m
Efficiency ratio, excluding goodwill impairment charge (2)		32.88			26.46				32.35				31.54			34.77			27.30			26.69
Balance sheet
Average
Total loans and leases	$	127,755		$	147,893			$	123,547			$	127,344		$	132,473		$	136,738		$	141,092
Total earning assets		128,905			149,181				124,767				128,505			133,539			137,766			142,228
Total assets		132,657			157,030				130,298				132,024			135,709			138,370			149,156
Allocated equity		22,958			37,073				22,410				22,671			23,807			25,173			33,033
Economic capital (3)		10,701			15,424				10,194				10,410			11,512			12,846			13,665
Period end
Total loans and leases	$	122,223		$	138,492			$	122,223			$	125,140		$	128,845		$	137,024		$	138,492
Total earning assets		123,510			139,495				123,510				126,323			129,945			138,072			139,495
Total assets		128,759			140,257				128,759				132,372			134,076			140,146			140,257

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

(2) Fully taxable-equivalent basis

(3) Return on average economic capital is calculated as net income, excluding goodwill impairment charge, cost of funds and earnings credit on intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Card Services Key Indicators

(Dollars in millions)

	Nine Months Ended September 30						Third Quarter			Second Quarter			First Quarter			Fourth Quarter			Third Quarter
	2011			2010			2011			2011			2011			2010			2010
U.S. Consumer Card Data (1)
Loans
Average credit card outstandings	$	106,569		$	119,744		$	103,671		$	106,164		$	109,941		$	112,673		$	115,251
Ending credit card outstandings		102,803			113,609			102,803			104,659			107,107			113,785			113,609
Credit quality
Net charge-offs	$	5,844		$	10,455		$	1,639		$	1,931		$	2,274		$	2,572		$	2,975
		7.33	%		11.67	%		6.28	%		7.29	%		8.39	%		9.05	%		10.24	%
30+ delinquency	$	4,019		$	6,460		$	4,019		$	4,263		$	5,093		$	5,914		$	6,460
		3.91	%		5.69	%		3.91	%		4.07	%		4.75	%		5.20	%		5.69	%
90+ delinquency	$	2,128		$	3,484		$	2,128		$	2,413		$	2,879		$	3,320		$	3,484
		2.07	%		3.07	%		2.07	%		2.31	%		2.68	%		2.92	%		3.07	%
Other Card Services Key Indicators
U.S. Consumer card data
Gross interest yield		10.29	%		10.72	%		10.14	%		10.27	%		10.47	%		10.70	%		10.72	%
Risk adjusted margin		5.51			1.72			6.08			6.23			4.25			4.63			3.14
New account growth (in thousands)		2,238			1,294			851			730			657			520			475
Purchase volumes	$	141,457		$	136,893		$	48,547		$	48,974		$	43,936		$	49,092		$	47,285
Debit card data
Debit purchase volumes	$	186,819		$	173,214		$	62,774		$	64,049		$	59,996		$	60,866		$	58,011

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

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

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

Bank of America Corporation and Subsidiaries

Consumer Real Estate Services Segment Results

(Dollars in millions; except as noted)

	Nine Months Ended September 30								Third Quarter 2011				Second Quarter 2011				First Quarter 2011				Fourth Quarter 2010				Third Quarter 2010
	2011				2010
Net interest income (1)	$	2,398			$	3,538			$	923			$	579			$	896			$	1,124			$	1,339
Noninterest income:
Mortgage banking income (loss)		(10,523	)			4,418				1,800				(13,018	)			695				(1,254	)			1,757
Insurance income		753				1,578				23				299				431				484				527
All other income (loss)		942				315				76				825				41				126				(11	)
Total noninterest income (loss)		(8,828	)			6,311				1,899				(11,894	)			1,167				(644	)			2,273
Total revenue, net of interest expense		(6,430	)			9,849				2,822				(11,315	)			2,063				480				3,612
Provision for credit losses		3,523				7,292				918				1,507				1,098				1,198				1,302
Goodwill impairment		2,603				—				—				2,603				—				2,000				—
All other noninterest expense		14,694				8,906				3,852				6,042				4,800				3,980				2,923
Loss before income taxes		(27,250	)			(6,349	)			(1,948	)			(21,467	)			(3,835	)			(6,698	)			(613	)
Income tax benefit (1)		(9,180	)			(2,339	)			(811	)			(6,948	)			(1,421	)			(1,761	)			(221	)
Net loss	$	(18,070	)		$	(4,010	)		$	(1,137	)		$	(14,519	)		$	(2,414	)		$	(4,937	)		$	(392	)
Net interest yield (1)		2.00		%		2.53		%		2.45		%		1.46		%		2.11		%		2.48		%		2.87		%
Efficiency ratio (1)		n/m				90.43				n/m				n/m				n/m				n/m				80.94
Balance sheet
Average
Total loans and leases	$	120,772			$	130,684			$	120,079			$	121,683			$	120,560			$	124,933			$	127,712
Total earning assets		159,979				187,134				149,177				158,674				172,339				180,030				184,994
Total assets		196,637				227,323				182,843				198,030				209,328				218,085				221,908
Allocated equity		16,688				26,591				14,240				17,139				18,736				24,310				26,493
Economic capital (2)		14,884				21,788				14,240				14,437				15,994				19,511				21,692
Period end
Total loans and leases	$	119,823			$	127,700			$	119,823			$	121,553			$	118,749			$	122,933			$	127,700
Total earning assets		144,831				178,068				144,831				149,908				166,265				172,082				178,068
Total assets		188,769				214,498				188,769				185,398				204,484				212,412				214,498
Period end (in billions)
Mortgage servicing portfolio (3)	$	1,917.4			$	2,079.5			$	1,917.4			$	1,991.3			$	2,028.4			$	2,056.8			$	2,079.5

(1) Fully taxable-equivalent basis

(2) Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Consumer Real Estate Services Results ⁽¹⁾

(Dollars in millions)

	Nine Months Ended September 30, 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Asset Servicing			Other
Net interest income (2)	$	2,398		$	1,520	$	941		$	(63	)
Noninterest income:
Mortgage banking income (loss)		(10,523	)		2,602		(12,615	)		(510	)
Insurance income		753			753		—			—
All other income		942			860		82			—
Total noninterest income (loss)		(8,828	)		4,215		(12,533	)		(510	)
Total revenue, net of interest expense		(6,430	)		5,735		(11,592	)		(573	)
Provision for credit losses		3,523			171		3,352			—
Goodwill impairment		2,603			—		—			2,603
Noninterest expense		14,694			4,548		10,146			—
Income (loss) before income taxes		(27,250	)		1,016		(25,090	)		(3,176	)
Income tax expense (benefit) (2)		(9,180	)		377		(9,362	)		(195	)
Net income (loss)	$	(18,070	)	$	639	$	(15,728	)	$	(2,981	)
Balance sheet
Average
Total loans and leases	$	120,772		$	55,128	$	65,644		$	—
Total earning assets		159,979			73,110		67,854			19,015
Total assets		196,637			75,305		83,114			38,218
Allocated equity		16,688			n/a		n/a			n/a
Economic capital (3)		14,884			n/a		n/a			n/a
Period end
Total loans and leases	$	119,823		$	55,170	$	64,653		$	—
Total earning assets		144,831			66,618		67,548			10,665
Total assets		188,769			80,670		83,529			24,570
	Three Months Ended September 30, 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Asset Servicing			Other
Net interest income (2)	$	923		$	473	$	472		$	(22	)
Noninterest income:
Mortgage banking income		1,800			914		526			360
Insurance income		23			23		—			—
All other income		76			38		38			—
Total noninterest income		1,899			975		564			360
Total revenue, net of interest expense		2,822			1,448		1,036			338
Provision for credit losses		918			50		868			—
Noninterest expense		3,852			1,340		2,512			—
Income (loss) before income taxes		(1,948	)		58		(2,344	)		338
Income tax expense (benefit) (2)		(811	)		24		(976	)		141
Net income (loss)	$	(1,137	)	$	34	$	(1,368	)	$	197
Balance sheet
Average
Total loans and leases	$	120,079		$	54,961	$	65,118		$	—
Total earning assets		149,177			68,924		67,524			12,729
Total assets		182,843			72,601		81,560			28,682
Allocated equity		14,240			n/a		n/a			n/a
Economic capital (3)		14,240			n/a		n/a			n/a
Period end
Total loans and leases	$	119,823		$	55,170	$	64,653		$	—
Total earning assets		144,831			66,618		67,548			10,665
Total assets		188,769			80,670		83,529			24,570

	Three Months Ended June 30, 2011
	Total Consumer Real Estate Services			Home Loans		Legacy Asset Servicing			Other
Net interest income (2)	$	579		$	474	$	136		$	(31	)
Noninterest income:
Mortgage banking income (loss)		(13,018	)		936		(13,081	)		(873	)
Insurance income		299			299		—			—
All other income		825			795		30			—
Total noninterest income (loss)		(11,894	)		2,030		(13,051	)		(873	)
Total revenue, net of interest expense		(11,315	)		2,504		(12,915	)		(904	)
Provision for credit losses		1,507			121		1,386			—
Goodwill impairment		2,603			—		—			2,603
Noninterest expense		6,042			1,543		4,499			—
Income (loss) before income taxes		(21,467	)		840		(18,800	)		(3,507	)
Income tax expense (benefit) (2)		(6,948	)		309		(6,924	)		(333	)
Net income (loss)	$	(14,519	)	$	531	$	(11,876	)	$	(3,174	)
Balance sheet
Average
Total loans and leases	$	121,683		$	55,465	$	66,218		$	—
Total earning assets		158,674			72,074		68,246			18,354
Total assets		198,030			73,681		84,312			40,037
Allocated equity		17,139			n/a		n/a			n/a
Economic capital (3)		14,437			n/a		n/a			n/a
Period end
Total loans and leases	$	121,553		$	55,476	$	66,077		$	—
Total earning assets		149,908			69,844		68,092			11,972
Total assets		185,398			71,898		83,236			30,264

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

(2) Fully taxable-equivalent basis

(3) Economic capital represents allocated equity less goodwill and a percentage of intangible assets (excluding mortgage servicing rights). Economic capital is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

n/a = not applicable

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

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

Bank of America Corporation and Subsidiaries

Consumer Real Estate Services Key Indicators

(Dollars in millions, except as noted)

	Nine Months Ended September 30								Third Quarter 2011				Second Quarter 2011				First Quarter 2011				Fourth Quarter 2010				Third Quarter 2010
	2011				2010
Mortgage servicing rights at fair value rollforward:
Balance, beginning of period	$	14,900			$	19,465			$	12,372			$	15,282			$	14,900			$	12,251			$	14,745
Net additions		1,050				2,758				33				176				841				757				745
Impact of customer payments (1)		(2,009	)			(2,960	)			(664	)			(639	)			(706	)			(799	)			(923	)
Other changes in mortgage servicing rights fair value (2)		(6,060	)			(7,012	)			(3,860	)			(2,447	)			247				2,691				(2,316	)
Balance, end of period	$	7,881			$	12,251			$	7,881			$	12,372			$	15,282			$	14,900			$	12,251
Capitalized mortgage servicing rights
(% of loans serviced for investors)		52		bps		73		bps		52		bps		78		bps		95		bps		92		bps		73		bps
Mortgage loans serviced for investors (in billions)	$	1,512			$	1,669			$	1,512			$	1,578			$	1,610			$	1,628			$	1,669
Loan production:
Consumer Real Estate Services
First mortgage	$	121,220			$	205,981			$	30,448			$	38,253			$	52,519			$	81,255			$	69,875
Home equity		3,114				5,602				660				879				1,575				2,024				2,000
Total Corporation (3)
First mortgage		130,142				213,365				33,038				40,370				56,734				84,673				71,925
Home equity		3,629				6,300				847				1,054				1,728				2,137				2,136
Mortgage banking income (loss)
Production income (loss):
Core production revenue	$	2,295			$	4,560			$	803			$	824			$	668			$	1,622			$	1,849
Representations and warranties provision		(15,328	)			(2,646	)			(278	)			(14,037	)			(1,013	)			(4,140	)			(872	)
Total production income (loss)		(13,033	)			1,914				525				(13,213	)			(345	)			(2,518	)			977
Servicing income:
Servicing fees		4,626				4,842				1,464				1,556				1,606				1,634				1,623
Impact of customer payments (1)		(2,009	)			(2,961	)			(664	)			(639	)			(706	)			(799	)			(923	)
Fair value changes of mortgage servicing rights, net of economic hedge results (4)		(509	)			120				361				(873	)			3				257				(89	)
Other servicing-related revenue		402				503				114				151				137				172				169
Total net servicing income		2,510				2,504				1,275				195				1,040				1,264				780
Total Consumer Real Estate Services mortgage banking income (loss)		(10,523	)			4,418				1,800				(13,018	)			695				(1,254	)			1,757
Other business segments’ mortgage banking loss (5)		(426	)			(265	)			(183	)			(178	)			(65	)			(165	)			(2	)
Total consolidated mortgage banking income (loss)	$	(10,949	)		$	4,153			$	1,617			$	(13,196	)		$	630			$	(1,419	)		$	1,755

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

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

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

(4) Includes sale of mortgage servicing rights.

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

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

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

Bank of America Corporation and Subsidiaries

Global Commercial Banking Segment Results

(Dollars in millions)

	Nine Months Ended September 30							Third Quarter				Second Quarter				First Quarter			Fourth Quarter				Third Quarter
	2011				2010			2011				2011				2011			2010				2010
Net interest income (1)	$	5,420			$	6,143		$	1,743			$	1,827			$	1,850		$	1,865			$	1,853
Noninterest income:
Service charges		1,745				1,777			563				576				606			563				589
All other income		832				691			227				408				197			186				191
Total noninterest income		2,577				2,468			790				984				803			749				780
Total revenue, net of interest expense		7,997				8,611			2,533				2,811				2,653			2,614				2,633
Provision for credit losses		(488	)			2,115			(150	)			(417	)			79			(136	)			556
Noninterest expense		3,195				3,068			1,018				1,069				1,108			1,061				1,061
Income before income taxes		5,290				3,428			1,665				2,159				1,466			1,689				1,016
Income tax expense (1)		1,936				1,263			615				778				543			636				372
Net income	$	3,354			$	2,165		$	1,050			$	1,381			$	923		$	1,053			$	644
Net interest yield (1)		2.66		%		3.03	%		2.65		%		2.60		%		2.73	%		2.67		%		2.61	%
Return on average equity		10.96				6.61			10.22				13.67				9.02			9.72				5.95
Return on average economic capital (2)		22.18				12.55			20.78				27.95				18.01			18.75				11.52
Efficiency ratio (1)		39.95				35.63			40.19				38.03				41.75			40.60				40.31
Balance sheet
Average
Total loans and leases	$	189,924			$	206,699		$	188,037			$	189,347			$	192,438		$	195,293			$	199,320
Total earning assets (3)		272,585				270,719			261,422				281,831				274,647			277,393				281,740
Total assets (3)		310,804				307,484			299,542				320,436				312,576			314,790				318,404
Total deposits		166,895				145,931			173,837				166,481				160,217			156,672				148,605
Allocated equity		40,917				43,790			40,726				40,522				41,512			42,997				42,930
Economic capital (2)		20,222				23,112			20,037				19,825				20,812			22,294				22,223
Period end
Total loans and leases	$	188,650			$	196,333		$	188,650			$	189,435			$	190,749		$	194,038			$	196,333
Total earning assets (3)		247,068				267,825			247,068				242,261				272,411			274,624				267,825
Total assets (3)		284,897				304,543			284,897				280,296				309,936			312,807				304,543
Total deposits		171,297				150,994			171,297				170,156				161,584			161,279				150,994

(1) Fully taxable-equivalent basis

(2) Return on average economic capital is calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

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

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

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

Bank of America Corporation and Subsidiaries

Global Commercial Banking Key Indicators

(Dollars in millions)

	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Revenue, net of interest expense by service segment
Business lending	$	4,393		$	5,005		$	1,358		$	1,558		$	1,477		$	1,484		$	1,532
Treasury services		3,604			3,606			1,175			1,253			1,176			1,130			1,101
Total revenue, net of interest expense (1)	$	7,997		$	8,611		$	2,533		$	2,811		$	2,653		$	2,614		$	2,633
Average loans and leases by product
U.S. commercial	$	104,726		$	104,572		$	104,646		$	104,829		$	104,703		$	102,914		$	101,447
Commercial real estate		40,510			53,765			38,189			40,597			42,796			45,854			49,748
Direct/Indirect consumer		41,931			46,019			42,283			41,078			42,435			44,185			45,885
Other		2,757			2,343			2,919			2,843			2,504			2,340			2,240
Total average loans and leases	$	189,924		$	206,699		$	188,037		$	189,347		$	192,438		$	195,293		$	199,320
Loan spread		2.30	%		2.31	%		2.24	%		2.26	%		2.40	%		2.27	%		2.29	%
Credit quality
Reservable utilized criticized exposure (2)	$	22,784		$	36,332		$	22,784		$	27,041		$	30,643		$	32,816		$	36,332
		12.30	%		18.45	%		12.30	%		14.27	%		15.83	%		16.74	%		18.45	%
Nonperforming loans, leases and foreclosed properties (3)	$	6,589		$	9,414		$	6,589		$	7,373		$	8,321		$	8,681		$	9,414
		3.49	%		4.79	%		3.49	%		3.88	%		4.36	%		4.47	%		4.79	%
Average deposit balances
Interest-bearing	$	51,961		$	53,980		$	48,627		$	52,643		$	54,679		$	55,354		$	53,565
Noninterest-bearing		114,934			91,951			125,210			113,838			105,538			101,318			95,040
Total	$	166,895		$	145,931		$	173,837		$	166,481		$	160,217		$	156,672		$	148,605

(1) Fully taxable-equivalent basis

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

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

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

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

Bank of America Corporation and Subsidiaries

Global Banking & Markets Segment Results

(Dollars in millions)

	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2011				2010				2011				2011				2011				2010				2010
Net interest income (1)	$	5,668			$	6,011			$	1,846			$	1,787			$	2,035			$	1,989			$	1,884
Noninterest income:
Service charges		1,327				1,378				410				442				475				495				455
Investment and brokerage services		1,876				1,831				613				587				676				546				565
Investment banking income		4,196				3,823				1,048				1,637				1,511				1,583				1,306
Trading account profits		6,312				8,727				1,621				2,070				2,621				961				2,454
All other income (loss)		517				814				(316	)			269				564				(210	)			409
Total noninterest income		14,228				16,573				3,376				5,005				5,847				3,375				5,189
Total revenue, net of interest expense		19,896				22,584				5,222				6,792				7,882				5,364				7,073
Provision for credit losses		(269	)			(54	)			15				(82	)			(202	)			(112	)			(157	)
Noninterest expense		13,892				13,213				4,480				4,708				4,704				4,321				4,311
Income before income taxes		6,273				9,425				727				2,166				3,380				1,155				2,919
Income tax expense (1)		2,873				3,797				1,029				607				1,237				486				1,451
Net income (loss)	$	3,400			$	5,628			$	(302	)		$	1,559			$	2,143			$	669			$	1,468
Return on average equity		11.83		%		14.73		%		n/m				16.69		%		20.94		%		5.65		%		11.61		%
Return on average economic capital (2)		16.37				18.39				n/m				23.23				27.99				7.28				14.57
Efficiency ratio (1)		69.83				58.51				85.82		%		69.32				59.67				80.55				60.96
Balance sheet
Average
Total trading-related assets (3)	$	483,232			$	515,469			$	490,356			$	500,595			$	458,394			$	485,161			$	507,014
Total loans and leases		111,167				97,915				120,143				109,473				103,704				100,606				98,874
Total earning assets (4)		571,745				611,061				572,758				568,095				574,399				580,912				591,313
Total assets (4)		735,438				763,797				748,289				748,964				708,625				733,732				743,264
Total deposits		116,364				95,568				121,389				116,899				110,687				104,655				96,040
Allocated equity		38,422				51,083				36,372				37,458				41,491				46,935				50,173
Economic capital (2)		27,875				41,022				25,589				26,984				31,112				36,695				40,116
Period end
Total trading-related assets (3)	$	448,062			$	516,874			$	448,062			$	445,221			$	455,958			$	417,714			$	516,874
Total loans and leases		124,527				99,525				124,527				114,165				105,651				99,964				99,525
Total earning assets (4)		530,471				598,809				530,471				516,920				563,140				512,962				598,809
Total assets (4)		686,035				745,863				686,035				689,306				697,132				653,737				745,863
Total deposits		115,724				99,462				115,724				122,348				114,579				109,691				99,462
Trading-related assets (average)
Trading account securities	$	206,779			$	203,201			$	199,782			$	214,451			$	206,177			$	201,006			$	201,494
Reverse repurchases		166,684				191,430				174,610				173,403				151,788				166,070				183,246
Securities borrowed		48,841				55,695				47,314				54,044				45,140				51,294				54,899
Derivative assets		60,928				65,143				68,650				58,697				55,289				66,791				67,375
Total trading-related assets (3)	$	483,232			$	515,469			$	490,356			$	500,595			$	458,394			$	485,161			$	507,014

(1) Fully taxable-equivalent basis

(2) Return on average economic capital is calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

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

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

n/m = not meaningful

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

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

Bank of America Corporation and Subsidiaries

Global Banking & Markets Key Indicators

(Dollars in millions)

	Nine Months Ended September 30								Third Quarter				Second Quarter				First Quarter				Fourth Quarter				Third Quarter
	2011				2010				2011				2011				2011				2010				2010
Sales and trading revenue
Fixed income, currency and commodities	$	8,145			$	11,188			$	1,820			$	2,686			$	3,639			$	1,667			$	3,478
Equity income		3,308				3,369				960				1,092				1,256				787				966
Total sales and trading revenue (1)	$	11,453			$	14,557			$	2,780			$	3,778			$	4,895			$	2,454			$	4,444
Investment banking fees
Advisory (2)	$	973			$	682			$	273			$	381			$	319			$	336			$	273
Debt issuance		2,158				2,252				479				880				799				808				743
Equity issuance		1,065				889				296				376				393				439				290
Total investment banking fees	$	4,196			$	3,823			$	1,048			$	1,637			$	1,511			$	1,583			$	1,306
Corporate Banking
Business lending	$	2,416			$	2,523			$	792			$	756			$	868			$	749			$	778
Treasury services		1,831				1,681				602				621				608				578				545
Total revenue, net of interest expense	$	4,247			$	4,204			$	1,394			$	1,377			$	1,476			$	1,327			$	1,323
Global Corporate & Investment Banking Key Indicators
Average deposit balances
Interest-bearing	$	55,265			$	43,100			$	55,543			$	57,286			$	52,937			$	49,834			$	46,339
Noninterest-bearing		53,922				44,573				58,518				52,085				51,081				47,401				43,043
Total average deposits	$	109,187			$	87,673			$	114,061			$	109,371			$	104,018			$	97,235			$	89,382
Loan spread		1.77		%		1.88		%		1.52		%		1.57		%		2.29		%		1.62		%		1.76		%
Provision for credit losses	$	(230	)		$	(92	)		$	8			$	(74	)		$	(164	)		$	(110	)		$	(102	)
Credit quality (3, 4)
Reservable utilized criticized exposure	$	4,815			$	7,132			$	4,815			$	4,801			$	5,298			$	5,924			$	7,132
		4.01		%		6.95		%		4.01		%		4.26		%		4.87		%		5.67		%		6.95		%
Nonperforming loans, leases and foreclosed properties	$	336			$	993			$	336			$	327			$	314			$	645			$	993
		0.32		%		1.19		%		0.32		%		0.34		%		0.35		%		0.76		%		1.19		%
Average loans and leases by product
U.S. commercial	$	34,604			$	34,138			$	35,717			$	34,369			$	33,704			$	33,522			$	32,681
Commercial real estate		53				31				23				54				82				24				26
Commercial lease financing		23,205				23,433				23,101				23,041				23,478				23,271				23,356
Non-U.S. commercial		36,010				23,098				42,409				35,267				30,220				26,550				24,650
Other		42				43				38				41				46				42				43
Total average loans and leases	$	93,914			$	80,743			$	101,288			$	92,772			$	87,530			$	83,409			$	80,756
(1)    Sales and trading revenue breakdown:
Net Interest Income	$	3,013			$	3,418			$	976			$	952			$	1,085			$	1,183			$	1,090
Commissions		1,865				1,818				610				583				672				542				560
Trading		6,199				8,671				1,581				2,031				2,587				925				2,427
Other		376				650				(387	)			212				551				(196	)			367
Total sales and trading revenue	$	11,453			$	14,557			$	2,780			$	3,778			$	4,895			$	2,454			$	4,444

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

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

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

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

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

Bank of America Corporation and Subsidiaries

Credit Default Swaps with Monoline Financial Guarantors

(Dollars in millions)

	September 30, 2011
	Super Senior CDOs  (1)				Other Guaranteed Positions				Total
Notional	$	—			$	31,028			$	31,028
Mark-to-market or guarantor receivable	$	—			$	6,215			$	6,215
Credit valuation adjustment		—				(3,205	)			(3,205	)
Total	$	—			$	3,010			$	3,010
Credit valuation adjustment %		—		%		52		%		52		%
Losses during the three months ended September 30, 2011	$	—			$	(172	)		$	(172	)
Losses during the nine months ended September 30, 2011		(314	)			(526	)			(840	)
		June 30, 2011
		Super Senior CDOs				Other Guaranteed Positions				Total
Notional	$	2,968			$	32,656			$	35,624
Mark-to-market or guarantor receivable	$	2,578			$	6,150			$	8,728
Credit valuation adjustment		(2,363	)			(3,314	)			(5,677	)
Total	$	215			$	2,836			$	3,051
Credit valuation adjustment %		92		%		54		%		65		%
Losses during the three months ended June 30, 2011	$	(38	)		$	(223	)		$	(261	)
Losses during the six months ended June 30, 2011		(314	)			(354	)			(668	)

(1) During the third quarter of 2011, we terminated $2.8 billion of monoline contracts referencing super senior ABS CDOs.

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

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

Bank of America Corporation and Subsidiaries

Investment Banking Product Rankings

	Nine Months Ended September 30, 2011
	Global				U.S.
	Product Ranking	Market Share			Product Ranking	Market Share
High-yield corporate debt	3		9.7	%	2		11.4	%
Leveraged loans	2		14.2		1		18.2
Mortgage-backed securities	1		11.1		1		13.4
Asset-backed securities	1		12.2		1		17.9
Convertible debt	6		5.7		5		10.1
Common stock underwriting	3		7.2		1		11.0
Investment grade corporate debt	2		6.6		2		13.6
Syndicated loans	2		9.7		2		18.7
Net investment banking revenue	2		7.5		2		11.7
Announced mergers and acquisitions	6		13.4		6		18.1
Equity capital markets	3		7.0		3		10.8
Debt capital markets	4		5.7		2		10.3

Source: Dealogic data as of October 4, 2011. Figures above include self-led transactions.

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

• Debt capital markets excludes loans but includes agencies.

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

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

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

Highlights

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

Top 3 rankings excluding self-led deals:

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

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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Segment Results

(Dollars in millions, except as noted)

		48.	48.		48.	48.		48.	48.		48.	48.		48.	48.		48.	48.		48.	48.
	Nine Months Ended     September  30						Third   Quarter			Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter
	2011			2010			2011			2011			2011			2010			2010
Net interest income (1)	$	4,551		$	4,252		$	1,411		$	1,571		$	1,569		$	1,425		$	1,345
Noninterest income:
Investment and brokerage services		7,120			6,394			2,364			2,378			2,378			2,266			2,091
All other income		1,541			1,482			455			541			545			470			462
Total noninterest income		8,661			7,876			2,819			2,919			2,923			2,736			2,553
Total revenue, net of interest expense		13,212			12,128			4,230			4,490			4,492			4,161			3,898
Provision for credit losses		280			491			162			72			46			155			127
Noninterest expense		10,746			9,737			3,516			3,631			3,599			3,489			3,345
Income before income taxes		2,186			1,900			552			787			847			517			426
Income tax expense (1)		800			878			205			281			314			198			157
Net income	$	1,386		$	1,022		$	347		$	506		$	533		$	319		$	269
Net interest yield (1)		2.23	%		2.38	%		2.06	%		2.34	%		2.30	%		2.10	%		2.18	%
Return on average equity		10.42			7.58			7.72			11.54			12.06			6.94			5.91
Return on average economic capital (2)		26.63			20.12			19.66			29.97			30.46			17.97			15.84
Efficiency ratio (1)		81.34			80.29			83.12			80.87			80.12			83.86			85.81
Balance sheet
Average
Total loans and leases	$	101,952		$	98,920		$	102,785		$	102,200		$	100,851		$	100,306		$	99,103
Total earning assets (3)		272,289			238,608			270,973			268,968			276,992			268,872			245,146
Total assets (3)		292,359			259,587			290,765			289,050			297,335			289,643			265,641
Total deposits		256,455			227,613			255,660			255,219			258,518			246,281			234,807
Allocated equity		17,783			18,015			17,839			17,574			17,938			18,227			18,039
Economic capital (2)		7,075			7,227			7,148			6,868			7,210			7,475			7,264
Period end
Total loans and leases	$	102,361		$	99,511		$	102,361		$	102,878		$	101,286		$	100,724		$	99,511
Total earning assets (3)		260,706			245,370			260,706			263,867			264,753			275,260			245,370
Total assets (3)		280,686			266,489			280,686			284,294			285,472			296,251			266,489
Total deposits		251,027			240,381			251,027			255,580			256,526			257,982			240,381

(1) Fully taxable-equivalent basis

(2) Return on average economic capital is calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. Economic capital represents allocated equity less goodwill and a percentage of intangible assets. Economic capital and return on average economic capital are non-GAAP measures. We believe the use of these non-GAAP measures provides additional clarity in assessing the results of the segments. Other companies may define or calculate these measures differently. (See Exhibit A: Non-GAAP Reconciliations - Reconciliations to GAAP Financial Measures on pages 44-46.)

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

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

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

Bank of America Corporation and Subsidiaries

Global Wealth & Investment Management Key Indicators and Metrics

(Dollars in millions, except as noted)

		54.			54.		54.		54.			54.			54.			54.			54.
	Nine Months Ended     September  30							Third   Quarter			Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter
	2011			2010				2011			2011			2011			2010			2010
Revenues
Merrill Lynch Global Wealth Management	$	10,463		$	9,303			$	3,429		$	3,494		$	3,540		$	3,428		$	3,177
U.S. Trust		2,088			2,014				682			710			696			708			691
Retirement Services		807			726				262			273			272			226			242
Other (1)		(146	)		85				(143	)		13			(16	)		(201	)		(212	)
Total revenues	$	13,212		$	12,128			$	4,230		$	4,490		$	4,492		$	4,161		$	3,898
Client Balances
Client Balances by Business
Merrill Lynch Global Wealth Management	$	1,452,081		$	1,466,346			$	1,452,081		$	1,539,798		$	1,554,294		$	1,515,896		$	1,466,346
U.S. Trust		315,242			334,150				315,242			341,911			345,092			340,341			334,150
Retirement Services		230,822			234,249				230,822			252,379			255,573			246,774			234,249
Other (1, 2)		65,153			86,199				65,153			67,875			71,759			78,275			86,199
Client Balances by Type
Assets under management (2)	$	616,899		$	611,461			$	616,899		$	661,010		$	664,554		$	643,343		$	611,461
Client brokerage assets		986,718			1,055,384				986,718			1,065,996			1,087,536			1,064,516			1,055,384
Assets in custody		106,293			114,207				106,293			116,499			116,816			114,721			114,207
Client deposits		251,027			240,381				251,027			255,580			256,526			257,982			240,381
Loans and leases		102,361			99,511				102,361			102,878			101,286			100,724			99,511
Total client balances	$	2,063,298		$	2,120,944			$	2,063,298		$	2,201,963		$	2,226,718		$	2,181,286		$	2,120,944
Assets Under Management Flows (2)
Liquidity assets under management (3)	$	(12,998	)	$	(33,665	)		$	(2,568	)	$	(3,771	)	$	(6,659	)	$	(8,050	)	$	(6,599	)
Long-term assets under management (4)		23,187			8,433				4,493			4,535			14,159			5,648			4,032
Total assets under management flows	$	10,189		$	(25,232	)		$	1,925		$	764		$	7,500		$	(2,402	)	$	(2,567	)
Associates (5)
Number of Financial Advisors		16,722			15,486				16,722			16,247			15,695			15,511			15,486
Total Wealth Advisors		18,488			16,983				18,488			17,823			17,201			17,025			16,983
Total Client Facing Professionals		21,554			20,011				21,554			20,883			20,273			20,066			20,011
Merrill Lynch Global Wealth Management Metrics
Financial Advisor Productivity (6) (in thousands)	$	892		$	833			$	854		$	893		$	931		$	913		$	846
U.S. Trust Metrics
Client Facing Professionals		2,271			2,302				2,271			2,280			2,313			2,311			2,302

(1) Other includes the results of BofA Global Capital Management (the former Columbia cash management business) and residual net interest income.

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

(3) Assets under advisory and discretion of GWIM in which the investment strategy seeks a high level of income while maintaining liquidity and capital preservation. The duration of these strategies are less than one year.

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

(5) Includes Merrill Edge ^®

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

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

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

Bank of America Corporation and Subsidiaries

All Other Results ⁽¹⁾

(Dollars in millions)

		48.			48.		48.		48.			48.			48.			48.			48.
	Nine Months Ended     September  30							Third   Quarter			Second   Quarter			First   Quarter			Fourth   Quarter			Third   Quarter
	2011			2010				2011			2011			2011			2010			2010
Net interest income (2)	$	1,376		$	2,766			$	6		$	543		$	827		$	888		$	842
Noninterest income:
Card income (3)		375			457				72			149			154			157			148
Equity investment income		3,930			3,050				1,382			1,136			1,412			1,499			266
Gains on sales of debt securities		1,996			1,455				697			831			468			858			794
All other income (loss)		3,234			279				4,112			(111	)		(767	)		(1,713	)		(807	)
Total noninterest income		9,535			5,241				6,263			2,005			1,267			801			401
Total revenue, net of interest expense		10,911			8,007				6,269			2,548			2,094			1,689			1,243
Provision for credit losses		5,380			4,186				1,373			1,842			2,165			2,137			440
Merger and restructuring charges		537			1,450				176			159			202			370			421
All other noninterest expense		2,618			3,049				486			503			1,629			910			547
Income (loss) before income taxes		2,376			(678	)			4,234			44			(1,902	)		(1,728	)		(165	)
Income tax expense (benefit) (2)		(1,191	)		(1,586	)			(500	)		160			(851	)		(2,291	)		(523	)
Net income (loss)	$	3,567		$	908			$	4,734		$	(116	)	$	(1,051	)	$	563		$	358
Balance sheet
Average
Total loans and leases	$	287,627		$	281,478			$	286,753		$	287,840		$	288,301		$	282,125		$	268,056
Total assets (4)		210,968			307,158				202,664			199,052			231,504			237,292			244,545
Total deposits		50,367			72,206				52,853			48,093			50,120			55,301			55,466
Allocated equity (5)		68,925			31,659				67,003			76,091			63,644			53,755			38,908
Period end
Total loans and leases	$	274,269		$	271,672			$	274,269		$	287,424		$	286,530		$	285,087		$	271,672
Total assets (6)		201,576			233,156				201,576			240,530			187,183			208,602			233,156
Total deposits		52,947			47,942				52,947			43,759			35,612			40,142			47,942

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

(2) Fully taxable-equivalent basis

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

(4) Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $667.8 billion and $604.0 billion for the nine months ended September 30, 2011 and 2010; $661.7 billion, $675.2 billion, $666.4 billion, $650.3 billion and $625.5 billion for the third, second and first quarters of 2011, and the fourth and third quarters of 2010, respectively.

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

(6) Includes elimination of segments’ excess asset allocations to match liabilities (i.e., deposits) of $623.9 billion, $627.8 billion, $660.3 billion, $645.8 billion and $612.5 billion at September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010, and September 30, 2010, respectively.

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

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

Bank of America Corporation and Subsidiaries

Equity Investments

(Dollars in millions)

		44.		44.		44.		44.		44.			44.
	Global Principal Investments Exposures								Equity Investment Income
	September 30, 2011						June 30, 2011		September 30, 2011
	Book Value		Unfunded Commitments		Total		Total		Three Months Ended			Nine Months Ended
Global Principal Investments:
Private Equity Investments	$	1,837	$	127	$	1,964	$	5,154	$	(1,375	)	$	39
Global Real Estate		1,337		174		1,511		1,719		99			215
Global Strategic Capital		2,181		246		2,427		2,893		(122	)		150
Legacy/Other Investments		1,530		331		1,861		2,127		(180	)		(221	)
Total Global Principal Investments	$	6,885	$	878	$	7,763	$	11,893	$	(1,578	)	$	183

Components of Equity Investment Income

(Dollars in millions)

		46.		46.		46.		46.			46.		46.		46.		46.
	Nine Months Ended September 30						Third Quarter			Second Quarter		First Quarter		Fourth Quarter		Third Quarter
	2011		2010				2011			2011		2011		2010		2010
Global Principal Investments	$	183	$	1,433				$    (1,578	)	$	398	$	1,363	$	866	$	44
Corporate Investments		—		(299	)			—			—		—		6		6
Strategic and other investments (1)		3,747		1,916				2,960			738		49		627		216
Total equity investment income included in All Other		3,930		3,050				1,382			1,136		1,412		1,499		266
Total equity investment income included in the business segments		203		698				64			76		63		13		91
Total consolidated equity investment income	$	4,133	$	3,748			$	1,446		$	1,212	$	1,475	$	1,512	$	357

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

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

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

Bank of America Corporation and Subsidiaries

Outstanding Loans and Leases

(Dollars in millions)

	September 30 2011		June 30 2011		Increase (Decrease)
Consumer
Residential mortgage (1)	$	266,516	$	266,333	$	183
Home equity		127,736		130,654		(2,918	)
Discontinued real estate (2)		11,541		12,003		(462	)
U.S. credit card		102,803		104,659		(1,856	)
Non-U.S. credit card		16,086		26,037		(9,951	)
Direct/Indirect consumer (3)		90,474		90,258		216
Other consumer (4)		2,810		2,762		48
Total consumer loans excluding loans measured at fair value		617,966		632,706		(14,740	)
Consumer loans measured at fair value (5)		4,741		5,194		(453	)
Total consumer		622,707		637,900		(15,193	)
Commercial
U.S. commercial (6)		192,642		190,606		2,036
Commercial real estate (7)		40,888		44,028		(3,140	)
Commercial lease financing		21,350		21,391		(41	)
Non-U.S. commercial		48,461		42,929		5,532
Total commercial loans excluding loans measured at fair value		303,341		298,954		4,387
Commercial loans measured at fair value (5)		6,483		4,403		2,080
Total commercial		309,824		303,357		6,467
Total loans and leases	$	932,531	$	941,257	$	(8,726	)

(1) Includes non-U.S. residential mortgages of $86 million and $90 million at September 30, 2011 and June 30, 2011.

(2) Includes $10.3 billion and $10.7 billion of pay option loans, and $1.2 billion and $1.3 billion of subprime loans at September 30, 2011 and June 30, 2011. The Corporation no longer originates these products.

(3) Includes dealer financial services loans of $43.6 billion and $42.1 billion, consumer lending of $8.9 billion and $9.9 billion, U.S. securities-based lending margin loans of $22.3 billion and $21.3 billion, student loans of $6.1 billion and $6.3 billion, non-U.S. consumer loans of $7.8 billion and $8.7 billion, and other consumer loans of $1.8 billion and $2.0 billion at September 30, 2011 and June 30, 2011.

(4) Includes consumer finance loans of $1.7 billion and $1.8 billion, other non-U.S. consumer loans of $992 million and $866 million, and consumer overdrafts of $94 million and $104 million at September 30, 2011 and June 30, 2011.

(5) Certain consumer loans are accounted for under the fair value option and include residential mortgages of $1.3 billion and $1.2 billion and discontinued real estate of $3.4 billion and $4.0 billion at September 30, 2011 and June 30, 2011. Certain commercial loans are accounted for under the fair value option and include U.S. commercial loans of $1.9 billion and $1.6 billion, non-U.S. commercial loans of $4.5 billion and $2.8 billion, and commercial real estate loans of $75 million and $11 million at September 30, 2011 and June 30, 2011.

(6) Includes U.S. small business commercial loans, including card related products, of $13.6 billion and $13.9 billion at September 30, 2011 and June 30, 2011.

(7) Includes U.S. commercial real estate loans of $39.3 billion and $41.7 billion, and non-U.S. commercial real estate loans of $1.6 billion and $2.3 billion at September 30, 2011 and June 30, 2011.

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

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

Bank of America Corporation and Subsidiaries

Quarterly Average Loans and Leases by Business Segment

(Dollars in millions)

		53.	53.		53.		53.		53.			53.		53.		53.		53.
	Third Quarter 2011
	Total Corporation			Deposits		Card   Services		Consumer Real Estate Services			Global Commercial Banking		Global Banking & Markets		GWIM		All Other
Consumer
Residential mortgage	$	268,494		$	—	$	—	$	1,196		$	209	$	99	$	36,656	$	230,334
Home equity		129,125			—		—		112,781			1,080		—		15,029		235
Discontinued real estate		15,923			—		—		4,052			—		—		—		11,871
U.S. credit card		103,671			—		103,671		—			—		—		—		—
Non-U.S. credit card		25,434			—		—		—			—		—		—		25,434
Direct/Indirect consumer		90,280			49		9,415		100			42,283		505		31,390		6,538
Other consumer		2,795			475		—		—			—		5		13		2,302
Total consumer		635,722			524		113,086		118,129			43,572		609		83,088		276,714
Commercial
U.S. commercial		191,439			163		10,167		1,949			104,646		47,809		17,829		8,876
Commercial real estate		42,931			1		294		2			38,189		930		1,653		1,862
Commercial lease financing		21,342			—		—		—			—		23,102		19		(1,779	)
Non-U.S. commercial		50,598			—		—		(1	)		1,630		47,693		196		1,080
Total commercial		306,310			164		10,461		1,950			144,465		119,534		19,697		10,039
Total loans and leases	$	942,032		$	688	$	123,547	$	120,079		$	188,037	$	120,143	$	102,785	$	286,753
	Second Quarter 2011
	Total Corporation			Deposits		Card Services		Consumer Real Estate Services			Global Commercial Banking		Global Banking & Markets		GWIM		All Other
Consumer
Residential mortgage	$	265,420		$	—	$	—	$	1,167		$	263	$	101	$	36,367	$	227,522
Home equity		131,786			—		—		115,250			1,033		—		15,248		255
Discontinued real estate		15,997			—		—		3,548			—		—		—		12,449
U.S. credit card		106,164			—		106,164		—			—		—		—		—
Non-U.S. credit card		27,259			—		—		—			—		—		—		27,259
Direct/Indirect consumer		89,403			52		10,482		94			41,078		561		30,231		6,905
Other consumer		2,745			414		—		—			—		5		17		2,309
Total consumer		638,774			466		116,646		120,059			42,374		667		81,863		276,699
Commercial
U.S. commercial		190,479			157		10,421		1,619			104,829		45,755		18,322		9,376
Commercial real estate		45,762			1		277		5			40,597		909		1,792		2,181
Commercial lease financing		21,284			—		—		—			—		23,042		34		(1,792	)
Non-U.S. commercial		42,214			2		—		—			1,547		39,100		189		1,376
Total commercial		299,739			160		10,698		1,624			146,973		108,806		20,337		11,141
Total loans and leases	$	938,513		$	626	$	127,344	$	121,683		$	189,347	$	109,473	$	102,200	$	287,840
	Third Quarter 2010
	Total Corporation			Deposits		Card Services		Consumer Real Estate Services			Global Commercial Banking		Global Banking & Markets		GWIM		All Other
Consumer
Residential mortgage	$	237,292		$	—	$	—	$	—		$	286	$	509	$	35,224	$	201,273
Home equity		143,083			—		—		125,688			914		—		16,207		274
Discontinued real estate		13,632			—		—		—			—		—		—		13,632
U.S. credit card		115,251			—		115,251		—			—		—		—		—
Non-U.S. credit card		27,047			—		—		—			—		—		—		27,047
Direct/Indirect consumer		95,692			64		14,584		95			45,885		388		24,872		9,804
Other consumer		2,955			341		—		(232	)		—		5		17		2,824
Total consumer		634,952			405		129,835		125,551			47,085		902		76,320		254,854
Commercial
U.S. commercial		192,306			295		11,044		2,155			101,447		45,903		20,650		10,812
Commercial real estate		55,660			2		213		7			49,748		911		1,954		2,825
Commercial lease financing		21,402			—		—		—			1		23,365		30		(1,994	)
Non-U.S. commercial		30,540			1		—		(1	)		1,039		27,793		149		1,559
Total commercial		299,908			298		11,257		2,161			152,235		97,972		22,783		13,202
Total loans and leases	$	934,860		$	703	$	141,092	$	127,712		$	199,320	$	98,874	$	99,103	$	268,056

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

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

Bank of America Corporation and Subsidiaries

Commercial Credit Exposure by Industry ^{(1, 2, 3)}

(Dollars in millions)

		57.		57.		57.			57.			57.			57.
	Commercial Utilized							Total Commercial Committed
	September 30 2011		June 30   2011		Increase (Decrease)			September 30 2011			June 30   2011			Increase (Decrease)
Diversified financials	$	65,674	$	51,889	$	13,785		$	92,226		$	79,056		$	13,170
Real estate (4)		49,924		53,597		(3,673	)		63,168			67,093			(3,925	)
Government and public education		45,111		42,153		2,958			60,001			58,027			1,974
Healthcare equipment and services		30,901		28,757		2,144			47,916			45,608			2,308
Capital goods		23,746		23,880		(134	)		47,351			46,822			529
Retailing		25,825		25,530		295			46,600			45,604			996
Banks		36,285		32,005		4,280			40,221			35,461			4,760
Consumer services		23,828		23,195		633			37,987			37,735			252
Materials		18,807		17,696		1,111			37,399			35,831			1,568
Commercial services and supplies		21,010		20,740		270			31,467			31,344			123
Energy		14,068		12,661		1,407			31,031			29,817			1,214
Food, beverage and tobacco		14,682		14,697		(15	)		28,825			28,920			(95	)
Utilities		7,398		6,407		991			24,773			24,697			76
Media		11,220		10,730		490			20,766			20,461			305
Individuals and trusts		15,398		16,249		(851	)		19,335			20,498			(1,163	)
Transportation		11,867		11,778		89			18,080			18,129			(49	)
Insurance, including monolines		10,776		16,306		(5,530	)		17,719			23,059			(5,340	)
Technology hardware and equipment		4,900		4,557		343			11,676			11,005			671
Religious and social organizations		8,547		8,087		460			11,091			10,319			772
Pharmaceuticals and biotechnology		3,784		4,998		(1,214	)		11,026			12,152			(1,126	)
Telecommunication services		4,368		3,890		478			10,508			10,096			412
Consumer durables and apparel		4,648		4,329		319			9,221			8,938			283
Software and services		3,568		3,480		88			9,003			8,995			8
Automobiles and components		2,825		2,466		359			7,356			6,391			965
Food and staples retailing		3,540		3,123		417			6,445			6,521			(76	)
Other		4,827		3,521		1,306			7,354			7,191			163
Total commercial credit exposure by industry	$	467,527	$	446,721	$	20,806		$	748,545		$	729,770		$	18,775
Net credit default protection purchased on total commitments (5)								$	(21,602	)	$	(19,861	)

(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 $65.6 billion and $58.8 billion at September 30, 2011 and June 30, 2011. Not reflected in utilized and committed exposure is additional non-cash derivative collateral held of $17.0 billion and $15.7 billion which consists primarily of other marketable securities at September 30, 2011 and June 30, 2011.

(2) Total commercial utilized and total commercial committed exposure includes loans and letters of credit measured at fair value and are comprised of loans outstanding of $6.5 billion and $4.4 billion and issued letters of credit at notional value of $1.2 billion at both September 30, 2011 and June 30, 2011. In addition, total commercial committed exposure includes unfunded loan commitments at notional value of $26.5 billion and $26.8 billion at September 30, 2011 and June 30, 2011.

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

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

(5) Represents net notional credit protection purchased.

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

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

Bank of America Corporation and Subsidiaries

Net Credit Default Protection by Maturity Profile ⁽¹⁾

	September 30 2011			June 30 2011
Less than or equal to one year		17	%		14	%
Greater than one year and less than or equal to five years		76			80
Greater than five years		7			6
Total net credit default protection		100	%		100	%

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

Net Credit Default Protection by Credit Exposure Debt Rating ^{(1, 2)}

(Dollars in millions)

	September 30, 2011						June 30, 2011
Ratings (3)	Net Notional			Percent			Net Notional			Percent
AAA	$	(100	)		0.5	%	$	—			—	%
AA		(823	)		3.8			(313	)		1.6
A		(7,669	)		35.5			(7,016	)		35.3
BBB		(8,161	)		37.8			(7,542	)		38.0
BB		(1,809	)		8.4			(1,659	)		8.4
B		(1,653	)		7.7			(1,381	)		7.0
CCC and below		(732	)		3.4			(756	)		3.8
NR (4)		(655	)		2.9			(1,194	)		5.9
Total net credit default protection	$	(21,602	)		100.0	%	$	(19,861	)		100.0	%

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

(2) Ratings are refreshed on a quarterly basis.

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

(4) In addition to names which have not been rated, “NR” includes $(469) million and $(1.1) billion in net credit default swap index positions at September 30, 2011 and June 30, 2011. While index positions are principally investment grade, credit default swaps indices include names in and across each of the ratings categories.

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

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

Bank of America Corporation and Subsidiaries

Selected Emerging Markets ⁽¹⁾

(Dollars in millions)

	Loans and Leases, and Loan Commitments		Other Financing  (2)		Derivative Assets (3)		Securities / Other Investments (4)		Total Cross–border Exposure (5)		Local Country Exposure Net of Local Liabilities (6)		Total Emerging Markets Exposure at September 30, 2011		Increase (Decrease) from June 30, 2011
Region/Country
Asia Pacific
China	$	4,272	$	618	$	1,702	$	8,331	$	14,923	$	91	$	15,014	$	(10,528	)
India		5,209		1,729		742		2,375		10,055		643		10,698		1,611
South Korea		1,468		1,521		785		2,049		5,823		1,325		7,148		740
Hong Kong		521		471		197		1,029		2,218		1,216		3,434		999
Singapore		604		221		590		1,818		3,233		—		3,233		658
Taiwan		539		53		119		636		1,347		1,499		2,846		100
Thailand		43		9		57		867		976		—		976		31
Malaysia		64		9		125		276		474		108		582		(123	)
Indonesia		190		13		6		354		563		—		563		(131	)
Other Asia Pacific (7)		320		32		59		312		723		—		723		(29	)
Total Asia Pacific		13,230		4,676		4,382		18,047		40,335		4,882		45,217		(6,672	)
Latin America
Brazil		1,943		365		535		3,426		6,269		2,648		8,917		1,820
Mexico		2,277		451		405		2,723		5,856		—		5,856		63
Chile		1,225		177		467		24		1,893		35		1,928		397
Peru		402		126		10		93		631		—		631		32
Colombia		336		146		22		1		505		—		505		99
Other Latin America (7)		81		122		29		270		502		151		653		(75	)
Total Latin America		6,264		1,387		1,468		6,537		15,656		2,834		18,490		2,336
Middle East and Africa
United Arab Emirates		1,170		27		321		20		1,538		—		1,538		209
Bahrain		78		1		4		907		990		2		992		(95	)
South Africa		374		32		110		52		568		—		568		49
Other Middle East and Africa (7)		595		384		243		212		1,434		25		1,459		513
Total Middle East and Africa		2,217		444		678		1,191		4,530		27		4,557		676
Central and Eastern Europe
Russian Federation		1,248		181		25		245		1,699		10		1,709		563
Turkey		474		84		27		206		791		86		877		192
Other Central and Eastern Europe (7)		110		104		294		489		997		—		997		84
Total Central and Eastern Europe		1,832		369		346		940		3,487		96		3,583		839
Total emerging market exposure	$	23,543	$	6,876	$	6,874	$	26,715	$	64,008	$	7,839	$	71,847	$	(2,821	)

(1) There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; all countries in Latin America excluding Cayman Islands and Bermuda; all countries in Middle East and Africa; and all countries in Central and Eastern Europe. At September 30, 2011 and June 30, 2011, there was $1.7 billion and $474 million in emerging market exposure accounted for under the fair value option.

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

(3) Derivative assets are carried at fair value and have been reduced by the amount of cash collateral applied of $1.9 billion and $1.1 billion at September 30, 2011 and June 30, 2011. At September 30, 2011 and June 30, 2011, there were $756 million and $226 million of other marketable securities collateralizing derivative assets.

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

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

(6) Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Local funding or liabilities are subtracted from local exposures consistent with FFIEC reporting requirements. Total amount of available local liabilities funding local country exposure at September 30, 2011 was $17.1 billion compared to $21.4 billion at June 30, 2011. Local liabilities at September 30, 2011 in Asia Pacific, Latin America, and Middle East and Africa were $15.9 billion, $868 million and $441 million, respectively, of which $7.5 billion was in Singapore, $2.1 billion in Hong Kong, $2.0 billion in China, $1.8 billion in India, $871 million in Korea, $782 million in Mexico. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

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

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

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

Bank of America Corporation and Subsidiaries

Selected European Countries

(Dollars in millions)

		59.		59.		59.		59.		59.		59.		59.		59.
	Loans and Leases, and Loan Commitments		Other Financing  (1)		Derivative Assets (2)		Securities/ Other Investments  (3)		Total Cross–border Exposure (4)		Local Country Exposure Net of Local Liabilities (5)		Total Non-U.S. Exposure at September 30, 2011		Credit Default Protection  (6)
Greece
Sovereign	$	—	$	—	$	—	$	14	$	14	$	1	$	15	$	4
Non-sovereign		404		4		30		22		460		10		470		—
Total Greece	$	404	$	4	$	30	$	36	$	474	$	11	$	485	$	4
Ireland
Sovereign	$	1	$	—	$	4	$	11	$	16	$	—	$	16	$	—
Non-sovereign		1,096		562		763		330		2,751		—		2,751		(30	)
Total Ireland	$	1,097	$	562	$	767	$	341	$	2,767	$	—	$	2,767	$	(30	)
Italy
Sovereign	$	—	$	—	$	1,501	$	29	$	1,530	$	—	$	1,530	$	(1,217	)
Non-sovereign		1,047		60		624		454		2,185		2,823		5,008		(254	)
Total Italy	$	1,047	$	60	$	2,125	$	483	$	3,715	$	2,823	$	6,538	$	(1,471	)
Portugal
Sovereign	$	—	$	—	$	36	$	—	$	36	$	—	$	36	$	(49	)
Non-sovereign		252		15		17		42		326		—		326		—
Total Portugal	$	252	$	15	$	53	$	42	$	362	$	—	$	362	$	(49	)
Spain
Sovereign	$	26	$	—	$	57	$	3	$	86	$	47	$	133	$	(53	)
Non-sovereign		1,100		92		196		664		2,052		2,297		4,349		(54	)
Total Spain	$	1,126	$	92	$	253	$	667	$	2,138	$	2,344	$	4,482	$	(107	)
Total
Sovereign	$	27	$	—	$	1,598	$	57	$	1,682	$	48	$	1,730	$	(1,315	)
Non-sovereign		3,899		733		1,630		1,512		7,774		5,130		12,904		(338	)
Total selected European exposure	$	3,926	$	733	$	3,228	$	1,569	$	9,456	$	5,178	$	14,634	$	(1,653	)

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

(2) Derivative assets are carried at fair value and have been reduced by the amount of cash collateral applied of $4.1 billion at September 30, 2011. At September 30, 2011, there was $86 million of other marketable securities collateralizing derivative assets.

(3) Includes $696 million in notional value of reverse repurchase agreements, which are presented based on the domicile of the counterparty consistent with FFIEC reporting requirements. Cross-border resale agreements where the underlying collateral is U.S. Treasury securities are excluded from this presentation.

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

(5) Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked regardless of the currency in which the claim is denominated. Local funding or liabilities of $746 million are subtracted from local exposures consistent with FFIEC reporting requirements. Of the $746 million applied for exposure reduction, $358 million was in Ireland, $201 million in Italy, $151 million in Spain and $36 million in Greece.

(6) Represents net notional credit default protection purchased to hedge derivative assets.

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

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

Bank of America Corporation and Subsidiaries

Nonperforming Loans, Leases and Foreclosed Properties

(Dollars in millions)

		57.	57.		57.	57.		57.	57.		57.	57.		57.	57.
	September 30 2011			June 30 2011			March 31 2011			December 31 2010			September 30 2010
Residential mortgage	$	16,430		$	16,726		$	17,466		$	17,691		$	18,291
Home equity		2,333			2,345			2,559			2,694			2,702
Discontinued real estate		308			324			327			331			297
Direct/Indirect consumer		52			58			68			90			83
Other consumer		24			25			36			48			56
Total consumer		19,147			19,478			20,456			20,854			21,429
U.S. commercial (1)		2,518			2,767			3,056			3,453			3,894
Commercial real estate		4,474			5,051			5,695			5,829			6,376
Commercial lease financing		23			23			53			117			123
Non-U.S. commercial		145			108			155			233			272
		7,160			7,949			8,959			9,632			10,665
U.S. small business commercial		139			156			172			204			202
Total commercial		7,299			8,105			9,131			9,836			10,867
Total nonperforming loans and leases		26,446			27,583			29,587			30,690			32,296
Foreclosed properties		2,613			2,475			2,056			1,974			2,260
Total nonperforming loans, leases and foreclosed properties (2, 3, 4)	$	29,059		$	30,058		$	31,643		$	32,664		$	34,556
Fully-insured home loans past due 90 days or more and still accruing	$	20,299		$	20,047		$	19,754		$	16,768		$	16,427
Consumer credit card past due 90 days or more and still accruing		2,544			3,020			3,570			3,919			4,007
Other loans past due 90 days or more and still accruing		1,163			1,223			1,559			1,692			1,774
Total loans past due 90 days or more and still accruing (3, 5, 6)	$	24,006		$	24,290		$	24,883		$	22,379		$	22,208
Nonperforming loans, leases and foreclosed properties/Total assets (7)		1.32	%		1.33	%		1.39	%		1.44	%		1.48	%
Nonperforming loans, leases and foreclosed properties/Total loans, leases and foreclosed properties (7)		3.15			3.22			3.40			3.48			3.71
Nonperforming loans and leases/Total loans and leases (7)		2.87			2.96			3.19			3.27			3.47
Commercial utilized reservable criticized exposure (8)	$	30,901		$	35,110		$	39,435		$	42,621		$	47,698
Commercial utilized reservable criticized exposure/Commercial utilized reservable exposure (8)		8.51	%		9.73	%		10.94	%		11.80	%		13.06	%
Total commercial utilized criticized exposure/Commercial utilized exposure (8)		8.35			10.80			11.73			12.43			13.61

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

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

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

(4)    Balances do not include the following:	September 30 2011		June 30 2011		March 31 2011		December 31 2010		September 30 2010
Nonperforming loans held-for-sale	$	1,814	$	2,119	$	2,421	$	2,540	$	3,654
Nonperforming loans accounted for under the fair value option		2,032		2,389		15		30		15
Nonaccruing troubled debt restructured loans removed from the purchased credit-impaired portfolio prior to January 1, 2010		474		465		456		426		378

(5) Balances do not include loans held-for-sale past due 90 days or more and still accruing of $67 million, $19 million, $48 million, $60 million and $79 million at September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010 and September 30, 2010, respectively. At September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010 and September 30, 2010 there were no loans accounted for under the fair value option past due 90 days or more and still accruing interest.

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

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

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

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

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

Bank of America Corporation and Subsidiaries

Nonperforming Loans, Leases and Foreclosed Properties Activity ⁽¹⁾

(Dollars in millions)

	Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
Nonperforming Consumer Loans:
Balance, beginning of period	$	19,478		$	20,456		$	20,854		$	21,429		$	21,684
Additions to nonperforming loans:
New nonaccrual loans		4,255			4,014			4,127			4,568			4,551
Reductions in nonperforming loans:
Paydowns and payoffs		(1,163	)		(1,003	)		(779	)		(739	)		(917	)
Returns to performing status (2)		(1,072	)		(1,311	)		(1,340	)		(1,841	)		(1,469	)
Charge-offs (3)		(1,972	)		(2,270	)		(2,020	)		(2,261	)		(1,987	)
Transfers to foreclosed properties		(379	)		(408	)		(386	)		(302	)		(433	)
Total net reductions to nonperforming loans		(331	)		(978	)		(398	)		(575	)		(255	)
Total nonperforming consumer loans, end of period		19,147			19,478			20,456			20,854			21,429
Foreclosed properties		1,892			1,797			1,331			1,249			1,485
Total nonperforming consumer loans and foreclosed properties, end of period	$	21,039		$	21,275		$	21,787		$	22,103		$	22,914
Nonperforming Commercial Loans and Leases (4):
Balance, beginning of period	$	8,105		$	9,131		$	9,836		$	10,867		$	11,413
Additions to nonperforming loans and leases:
New nonaccrual loans and leases		1,197			1,042			1,299			1,820			1,852
Advances		37			52			67			102			83
Reductions in nonperforming loans and leases:
Paydowns and payoffs		(871	)		(1,023	)		(764	)		(1,113	)		(906	)
Sales		(554	)		(141	)		(247	)		(228	)		(187	)
Return to performing status (5)		(143	)		(362	)		(320	)		(465	)		(415	)
Charge-offs (6)		(247	)		(290	)		(488	)		(767	)		(628	)
Transfers to foreclosed properties		(205	)		(241	)		(200	)		(304	)		(217	)
Transfers to loans held-for-sale		(20	)		(63	)		(52	)		(76	)		(128	)
Total net reductions in nonperforming loans and leases		(806	)		(1,026	)		(705	)		(1,031	)		(546	)
Total nonperforming commercial loans and leases, end of period		7,299			8,105			9,131			9,836			10,867
Foreclosed properties		721			678			725			725			775
Total nonperforming commercial loans, leases and foreclosed properties, end of period	$	8,020		$	8,783		$	9,856		$	10,561		$	11,642

(1) For amounts excluded from nonperforming loans, leases and foreclosed properties, see footnotes to Nonperforming Loans, Leases and Foreclosed Properties table on page 39.

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

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

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

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

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

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

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

Bank of America Corporation and Subsidiaries

Quarterly Net Charge-offs and Net Charge-off Ratios ⁽¹⁾

(Dollars in millions)

		38.			38.		38.		38.			38.		38.		38.			38.		38.		38.		38.	38.		38.		38.	38.
	Third Quarter 2011							Second Quarter 2011							First Quarter 2011							Fourth Quarter 2010					Third Quarter 2010
Net Charge-offs	Amount			Percent				Amount			Percent				Amount			Percent				Amount		Percent			Amount		Percent
Residential mortgage	$	989			1.47		%	$	1,104			1.67		%	$	905			1.40		%	$	970		1.51	%	$	660		1.10	%
Home equity		1,092			3.35				1,263			3.84				1,179			3.51				1,271		3.61			1,372		3.80
Discontinued real estate		24			0.80				26			0.84				20			0.61				11		0.35			17		0.48
U.S. credit card		1,639			6.28				1,931			7.29				2,274			8.39				2,572		9.05			2,975		10.24
Non-U.S. credit card		374			5.83				429			6.31				402			5.91				339		4.90			295		4.32
Direct/Indirect consumer		301			1.32				366			1.64				525			2.36				641		2.78			707		2.93
Other consumer		56			7.81				43			6.44				40			5.93				50		6.96			80		10.68
Total consumer		4,475			2.82				5,162			3.27				5,345			3.38				5,854		3.62			6,106		3.81
U.S. commercial (2)		78			0.18				60			0.14				(21	)		(0.05	)			210		0.47			206		0.47
Commercial real estate		296			2.73				163			1.43				288			2.42				347		2.67			410		2.93
Commercial lease financing		(1	)		(0.01	)			(8	)		(0.15	)			1			0.02				20		0.38			19		0.34
Non-U.S. commercial		18			0.15				13			0.13				103			1.22				8		0.10			12		0.17
		391			0.54				228			0.32				371			0.54				585		0.83			647		0.91
U.S. small business commercial		220			6.36				275			7.78				312			8.68				344		9.13			444		11.38
Total commercial		611			0.81				503			0.68				683			0.94				929		1.25			1,091		1.46
Total net charge-offs	$	5,086			2.17			$	5,665			2.44			$	6,028			2.61			$	6,783		2.87		$	7,197		3.07
By Business Segment
Deposits	$	48			27.52		%	$	36			23.58		%	$	34			21.34		%	$	40		25.64	%	$	70		39.43	%
Card Services		2,031			6.52				2,434			7.67				2,916			8.93				3,327		9.65			3,908		10.99
Consumer Real Estate Services		1,036			3.58				1,213			4.16				1,114			3.75				1,183		3.76			1,323		4.11
Global Commercial Banking		443			0.94				321			0.68				514			1.08				639		1.30			730		1.45
Global Banking & Markets		31			0.11				(9	)		(0.03	)			(3	)		(0.01	)			25		0.10			52		0.22
Global Wealth & Investment Management		135			0.52				129			0.50				88			0.36				131		0.52			112		0.45
All Other		1,362			1.89				1,541			2.15				1,365			1.92				1,438		2.02			1,002		1.49
Total net charge-offs	$	5,086			2.17			$	5,665			2.44			$	6,028			2.61			$	6,783		2.87		$	7,197		3.07

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

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

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

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

Bank of America Corporation and Subsidiaries

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

(Dollars in millions)

		44.			44.		44.		44.		44.	44.
	Nine Months Ended September 30
	2011							2010
Net Charge-offs	Amount			Percent				Amount		Percent
Residential mortgage	$	2,998			1.51		%	$	2,700		1.49	%
Home equity		3,534			3.57				5,510		4.98
Discontinued real estate		70			0.75				57		0.54
U.S. credit card		5,844			7.33				10,455		11.67
Non-U.S. credit card		1,205			6.02				1,868		8.86
Direct/Indirect consumer		1,192			1.77				2,695		3.66
Other consumer		139			6.74				211		9.50
Total consumer		14,982			3.15				23,496		4.80
U.S. commercial (2)		117			0.09				671		0.50
Commercial real estate		747			2.19				1,670		3.56
Commercial lease financing		(8	)		(0.05	)			37		0.23
Non-U.S. commercial		134			0.44				103		0.50
		990			0.47				2,481		1.15
U.S. small business commercial		807			7.62				1,574		12.88
Total commercial		1,797			0.81				4,055		1.77
Total net charge-offs	$	16,779			2.41			$	27,551		3.84
By Business Segment
Deposits	$	118			24.26		%	$	179		33.56	%
Card Services		7,381			7.72				13,922		12.59
Consumer Real Estate Services		3,363			3.83				5,304		5.43
Global Commercial Banking		1,278			0.90				2,767		1.79
Global Banking & Markets		19			0.02				282		0.40
Global Wealth & Investment Management		352			0.46				346		0.47
All Other		4,268			1.99				4,751		2.26
Total net charge-offs	$	16,779			2.41			$	27,551		3.84

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

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

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

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

Bank of America Corporation and Subsidiaries

Allocation of the Allowance for Credit Losses by Product Type

(Dollars in millions)

		55.	55.	55.	55.	55.		55.	55.	55.	55.	55.		55.	55.	55.	55.	55.
	September 30, 2011						June 30, 2011						September 30, 2010
Allowance for loan and lease losses		Amount	Percent of Total		Percent of Loans and Leases Outstanding (1)			Amount	Percent of Total		Percent of Loans and Leases Outstanding (1)			Amount	Percent of Total		Percent of Loans and Leases Outstanding (1)
Residential mortgage	$	5,832	16.62	%	2.19	%	$	5,845	15.66	%	2.19	%	$	4,595	10.54	%	1.89	%
Home equity		12,998	37.05		10.18			13,111	35.14		10.03			12,880	29.55		9.10
Discontinued real estate		1,902	5.42		16.48			1,997	5.35		16.64			961	2.21		7.15
U.S. credit card		6,780	19.33		6.59			7,540	20.21		7.20			11,977	27.48		10.54
Non-U.S.credit card		1,314	3.75		8.17			1,771	4.75		6.80			2,116	4.86		7.76
Direct/Indirect consumer		1,281	3.65		1.42			1,475	3.95		1.63			2,661	6.11		2.88
Other consumer		150	0.43		5.35			145	0.39		5.25			171	0.39		5.83
Total consumer		30,257	86.25		4.90			31,884	85.45		5.04			35,361	81.14		5.57
U.S. commercial (2)		2,627	7.49		1.36			2,792	7.48		1.46			4,089	9.38		2.14
Commercial real estate		1,860	5.30		4.55			2,314	6.20		5.26			3,573	8.20		6.77
Commercial lease financing		100	0.28		0.47			99	0.27		0.46			151	0.35		0.71
Non-U.S.commercial		238	0.68		0.49			223	0.60		0.52			407	0.93		1.33
Total commercial (3)		4,825	13.75		1.59			5,428	14.55		1.82			8,220	18.86		2.78
Allowance for loan and lease losses		35,082	100.00	%	3.81			37,312	100.00	%	4.00			43,581	100.00	%	4.69
Reserve for unfunded lending commitments		790						897						1,294
Allowance for credit losses	$	35,872					$	38,209					$	44,875
Asset Quality Indicators
Allowance for loan and lease losses/Total loans and leases (5)			3.81	%					4.00	%					4.69	%
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total loans and leases (excluding purchased credit-impaired loans) (4,5)			3.02						3.24						4.25
Allowance for loan and lease losses/Total nonperforming loans and leases (6)			133						135						135
Allowance for loan and lease losses (excluding the valuation allowance for purchased credit-impaired loans)/Total nonperforming loans and leases (4)			101						105						118
Allowance for loan and lease losses/Annualized net charge-offs			1.74						1.64						1.53
Allowance for loan and lease losses/Annualized net charge-offs (excluding purchased credit-impaired loans) (4)			1.33						1.28						1.34

(1) Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans accounted for under the fair value option for each loan and lease category. Loans accounted for under the fair value option include residental mortgage loans of $1.3 billion and $1.2 billion and discontinued real estate loans of $3.4 billion and $4.0 billion at September 30, 2011 and June 30, 2011, respectively. They also include U.S. commercial loans of $1.9 billion, $1.6 billion and $1.8 billion, non-U.S. commercial loans of $4.5 billion, $2.8 billion and $1.8 billion, and commercial real estate loans of $75 million, $11 million and $54 million at September 30, 2011, June 30, 2011 and September 30, 2010, respectively.

(2) Includes allowance for U.S. small business commercial loans of $935 million, $1.0 billion and $1.8 billion at September 30,2011, June 30, 2011 and September 30, 2010, respectively.

(3) Includes allowance for loan and lease losses for impaired commercial loans of $798 million, $778 million and $577 million at September 30, 2011, June 30, 2011 and September 30, 2010, respectively.

(4) Excludes valuation allowance on Countrywide purchased credit-impaired loans of $8.2 billion, $8.2 billion and $5.5 billion of September 30, 2011, June 30, 2011 and September 30, 2010, respectively.

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

(6) Allowance for loan and lease losses includes $18.3 billion, $19.9 billion and $23.7 billion allocated to products (primarily Card Services portfolios and purchased credit-impaired loans) that are excluded from nonperforming loans and leases at September 30, 2011, June 30, 2011 and September 30, 2010, respectively. Excluding these amounts, allowance for loan and lease losses as a percentage of total nonperforming loans and leases was 63 percent, 63 percent and 62 percent at September 30, 2011, June 30, 2011 and September 30, 2010, respectively.

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

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

Exhibit A: Non-GAAP Reconciliations

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

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

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

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

See the tables below and on page 45 for reconciliations of these non-GAAP measures with financial measures defined by GAAP for the three months ended September 30, 2011, June 30, 2011, March 31, 2011, December 31, 2010 and September 30, 2010 and the nine months ended September 30, 2011 and 2010. The Corporation believes 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.

		44.			44.			44.		44.			44.		44.			44.
	Nine Months Ended September 30						Third Quarter 2011		Second Quarter 2011			First Quarter 2011		Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
Net interest income	$	33,915		$	39,084		$	10,490	$	11,246		$	12,179	$	12,439		$	12,435
Fully taxable-equivalent adjustment		714			900			249		247			218		270			282
Net interest income on a fully taxable-equivalent basis	$	34,629		$	39,984		$	10,739	$	11,493		$	12,397	$	12,709		$	12,717
Reconciliation of total revenue, net of interest expense to total revenue, net of interest expense on a fully taxable-equivalent basis
Total revenue, net of interest expense	$	68,566		$	87,822		$	28,453	$	13,236		$	26,877	$	22,398		$	26,700
Fully taxable-equivalent adjustment		714			900			249		247			218		270			282
Total revenue, net of interest expense on a fully taxable-equivalent basis	$	69,280		$	88,722		$	28,702	$	13,483		$	27,095	$	22,668		$	26,982
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill impairment charges
Total noninterest expense	$	60,752		$	62,244		$	17,613	$	22,856		$	20,283	$	20,864		$	27,216
Goodwill impairment charges		(2,603	)		(10,400	)		—		(2,603	)		—		(2,000	)		(10,400	)
Total noninterest expense, excluding goodwill impairment charges	$	58,149		$	51,844		$	17,613	$	20,253		$	20,283	$	18,864		$	16,816
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully taxable-equivalent basis
Income tax expense (benefit)	$	(2,117	)	$	3,266		$	1,201	$	(4,049	)	$	731	$	(2,351	)	$	1,387
Fully taxable-equivalent adjustment		714			900			249		247			218		270			282
Income tax expense (benefit) on a fully taxable-equivalent basis	$	(1,403	)	$	4,166		$	1,450	$	(3,802	)	$	949	$	(2,081	)	$	1,669
Reconciliation of net income (loss) to net income (loss), excluding goodwill impairment charges
Net income (loss)	$	(545	)	$	(994	)	$	6,232	$	(8,826	)	$	2,049	$	(1,244	)	$	(7,299	)
Goodwill impairment charges		2,603			10,400			—		2,603			—		2,000			10,400
Net income (loss), excluding goodwill impairment charges	$	2,058		$	9,406		$	6,232	$	(6,223	)	$	2,049	$	756		$	3,101
Reconciliation of net income (loss) applicable to common shareholders to net income (loss) applicable to common shareholders, excluding goodwill impairment charges
Net income (loss) applicable to common shareholders	$	(1,499	)	$	(2,030	)	$	5,889	$	(9,127	)	$	1,739	$	(1,565	)	$	(7,647	)
Goodwill impairment charges		2,603			10,400			—		2,603			—		2,000			10,400
Net income (loss) applicable to common shareholders, excluding goodwill impairment charges	$	1,104		$	8,370		$	5,889	$	(6,524	)	$	1,739	$	435		$	2,753

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

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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

		54.			54.			54.			54.			54.			54.			54.
	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Common shareholders’ equity	$	212,512		$	210,649		$	204,928		$	218,505		$	214,206		$	218,728		$	215,911
Common Equivalent Securities		—			3,877			—			—			—			—			—
Goodwill		(72,903	)		(84,965	)		(71,070	)		(73,748	)		(73,922	)		(75,584	)		(82,484	)
Intangible assets (excluding mortgage servicing rights)		(9,386	)		(11,246	)		(9,005	)		(9,394	)		(9,769	)		(10,211	)		(10,629	)
Related deferred tax liabilities		2,939			3,368			2,852			2,932			3,035			3,121			3,214
Tangible common shareholders’ equity	$	133,162		$	121,683		$	127,705		$	138,295		$	133,550		$	136,054		$	126,012
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
Shareholders’ equity	$	229,385		$	232,465		$	222,410		$	235,067		$	230,769		$	235,525		$	233,978
Goodwill		(72,903	)		(84,965	)		(71,070	)		(73,748	)		(73,922	)		(75,584	)		(82,484	)
Intangible assets (excluding mortgage servicing rights)		(9,386	)		(11,246	)		(9,005	)		(9,394	)		(9,769	)		(10,211	)		(10,629	)
Related deferred tax liabilities		2,939			3,368			2,852			2,932			3,035			3,121			3,214
Tangible shareholders’ equity	$	150,035		$	139,622		$	145,187		$	154,857		$	150,113		$	152,851		$	144,079
Reconciliation of period end common shareholders’ equity to period end tangible common shareholders’ equity
Common shareholders’ equity	$	210,772		$	212,391		$	210,772		$	205,614		$	214,314		$	211,686		$	212,391
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(73,869	)		(73,861	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(9,560	)		(9,923	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			2,933			3,036			3,123
Tangible common shareholders’ equity	$	133,953		$	129,510		$	133,953		$	128,217		$	133,818		$	130,938		$	129,510
Reconciliation of period end shareholders’ equity to period end tangible shareholders’ equity
Shareholders’ equity	$	230,252		$	230,495		$	230,252		$	222,176		$	230,876		$	228,248		$	230,495
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(73,869	)		(73,861	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(9,560	)		(9,923	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			2,933			3,036			3,123
Tangible shareholders’ equity	$	153,433		$	147,614		$	153,433		$	144,779		$	150,380		$	147,500		$	147,614
Reconciliation of period end assets to period end tangible assets
Assets	$	2,219,628		$	2,339,660		$	2,219,628		$	2,261,319		$	2,274,532		$	2,264,909		$	2,339,660
Goodwill		(70,832	)		(75,602	)		(70,832	)		(71,074	)		(73,869	)		(73,861	)		(75,602	)
Intangible assets (excluding mortgage servicing rights)		(8,764	)		(10,402	)		(8,764	)		(9,176	)		(9,560	)		(9,923	)		(10,402	)
Related deferred tax liabilities		2,777			3,123			2,777			2,853			2,933			3,036			3,123
Tangible assets	$	2,142,809		$	2,256,779		$	2,142,809		$	2,183,922		$	2,194,036		$	2,184,161		$	2,256,779

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

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

Exhibit A: Non-GAAP Reconciliations - continued

Bank of America Corporation and Subsidiaries

Reconciliations to GAAP Financial Measures

(Dollars in millions)

Reconciliation of return on average economic capital	Nine Months Ended September 30						Third Quarter 2011			Second Quarter 2011			First Quarter 2011			Fourth Quarter 2010			Third Quarter 2010
	2011			2010
Deposits
Reported net income	$	1,051		$	1,562		$	276		$	424		$	351		$	(200	)	$	198
Adjustment related to intangibles (1)		1			8			1			(1	)		1			2			3
Adjusted net income	$	1,052		$	1,570		$	277		$	423		$	352		$	(198	)	$	201
Average allocated equity	$	23,692		$	24,254		$	23,820		$	23,612		$	23,641		$	24,128		$	24,402
Adjustment related to goodwill and a percentage of intangibles		(17,952	)		(17,977	)		(17,947	)		(17,950	)		(17,958	)		(17,967	)		(17,978	)
Average economic capital	$	5,740		$	6,277		$	5,873		$	5,662		$	5,683		$	6,161		$	6,424
Card Services
Reported net income	$	4,767		$	(8,269	)	$	1,264		$	1,939		$	1,564		$	1,289		$	(9,844	)
Adjustment related to intangibles (1)		12			54			4			3			5			15			17
Goodwill impairment charge		—			—			—			—			—			—			10,400
Adjusted net income	$	4,779		$	(8,215	)	$	1,268		$	1,942		$	1,569		$	1,304		$	573
Average allocated equity	$	22,958		$	37,073		$	22,410		$	22,671		$	23,807		$	25,173		$	33,033
Adjustment related to goodwill and a percentage of intangibles		(12,257	)		(21,649	)		(12,216	)		(12,261	)		(12,295	)		(12,327	)		(19,368	)
Average economic capital	$	10,701		$	15,424		$	10,194		$	10,410		$	11,512		$	12,846		$	13,665
Consumer Real Estate Services
Reported net income	$	(18,070	)	$	(4,010	)	$	(1,137	)	$	(14,519	)	$	(2,414	)	$	(4,937	)	$	(392	)
Adjustment related to intangibles (1)		—			2			—			—			—			—			—
Goodwill impairment charge		2,603			—			—			2,603			—			2,000			—
Adjusted net income	$	(15,467	)	$	(4,008	)	$	(1,137	)	$	(11,916	)	$	(2,414	)	$	(2,937	)	$	(392	)
Average allocated equity	$	16,688		$	26,591		$	14,240		$	17,139		$	18,736		$	24,310		$	26,493
Adjustment related to goodwill and a percentage of intangibles		(1,804	)		(4,803	)		—			(2,702	)		(2,742	)		(4,799	)		(4,801	)
Average economic capital	$	14,884		$	21,788		$	14,240		$	14,437		$	15,994		$	19,511		$	21,692
Global Commercial Banking
Reported net income	$	3,354		$	2,165		$	1,050		$	1,381		$	923		$	1,053		$	644
Adjustment related to intangibles (1)		2			4			—			1			1			1			1
Adjusted net income	$	3,356		$	2,169		$	1,050		$	1,382		$	924		$	1,054		$	645
Average allocated equity	$	40,917		$	43,790		$	40,726		$	40,522		$	41,512		$	42,997		$	42,930
Adjustment related to goodwill and a percentage of intangibles		(20,695	)		(20,678	)		(20,689	)		(20,697	)		(20,700	)		(20,703	)		(20,707	)
Average economic capital	$	20,222		$	23,112		$	20,037		$	19,825		$	20,812		$	22,294		$	22,223
Global Banking and Markets
Reported net income	$	3,400		$	5,628		$	(302	)	$	1,559		$	2,143		$	669		$	1,468
Adjustment related to intangibles (1)		13			15			5			4			4			4			5
Adjusted net income	$	3,413		$	5,643		$	(297	)	$	1,563		$	2,147		$	673		$	1,473
Average allocated equity	$	38,422		$	51,083		$	36,372		$	37,458		$	41,491		$	46,935		$	50,173
Adjustment related to goodwill and a percentage of intangibles		(10,547	)		(10,061	)		(10,783	)		(10,474	)		(10,379	)		(10,240	)		(10,057	)
Average economic capital	$	27,875		$	41,022		$	25,589		$	26,984		$	31,112		$	36,695		$	40,116
Global Wealth and Investment Management
Reported net income	$	1,386		$	1,022		$	347		$	506		$	533		$	319		$	269
Adjustment related to intangibles (1)		23			66			7			7			9			20			21
Adjusted net income	$	1,409		$	1,088		$	354		$	513		$	542		$	339		$	290
Average allocated equity	$	17,783		$	18,015		$	17,839		$	17,574		$	17,938		$	18,227		$	18,039
Adjustment related to goodwill and a percentage of intangibles		(10,708	)		(10,788	)		(10,691	)		(10,706	)		(10,728	)		(10,752	)		(10,775	)
Average economic capital	$	7,075		$	7,227		$	7,148		$	6,868		$	7,210		$	7,475		$	7,264

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

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

This information is preliminary and based on company data available at the time of the presentation. 46

Appendix: Selected Slides from the

Third Quarter 2011 Earnings Release Presentation

This information is preliminary and based on company data available at the time of the presentation. 47

3Q11 Review

3Q11 reported net income of $6.2B or $0.56 diluted EPS

A number of significant items were recorded during the quarter

Continued execution on customer-focused strategy for growth and relationship deepening

Headwinds of global economies, housing, interest rates and Eurozone debt crisis persist

– Sales and trading results reflect challenging market environment Total deposits increased Loan growth remains muted Credit quality continues to improve

Expenses declined from 2Q11

New BAC efficiency initiative: Phase 1 evaluation complete and implementation commenced in October, Phase 2 evaluation underway Capital and liquidity remain strong

– Credit reserve coverage at 1.74 times 3Q11 annualized net charge-offs (highest in 15 quarters)

– Capital ratios improved

Tier 1 common equity ratio improved 42bps to 8.65%

Tangible common equity ratio at 6.25%, highest level in 15 years

– Overall global excess liquidity sources remain at elevated levels after planned reductions of long and short-term debt

No change in overall excess liquidity sources since Moody’s downgrade

Time to required funding metric improved from 22 months at 2Q11 to 27 months at 3Q11

Funding and Liquidity

Global Excess Liquidity Sources ($B) and

Time to Required Funding (months) 1, 2

700 600 500 400 300 200 100 0

23 24 25 22 27

$324 $336 $386 $402 $363

3Q10 4Q10 1Q11 2Q11 3Q11

30 25 20 15 10 5 0

Parent company

Bank subsidiaries

Broker/dealers

Time to Required Funding

Long-term Debt ($B)

500 400 300 200 100 0

$479 $448 $434 $427 $399

3Q10 4Q10 1Q11 2Q11 3Q11

Proactively reduced short-term unsecured funding by approximately $15B to immaterial amounts, at the parent company and broker/dealers

Reduced long-term debt to $399B

Down from $479B at 3Q10, in line with stated intent to reduce by 15-20% by the end of 2011

Plan to further decrease by $70-120B by end of 2013

Reduction in long-term debt includes $4.5B impact of FVO on structured liabilities

Global Excess Liquidity Sources declined from 2Q11 to $363B due primarily to previously planned reductions in wholesale funding

Time to Required Funding increased to 27 months as parent company liquidity remains high and annual debt maturities are lower after 2012

Parent & Broker/Dealers Unsecured Short-term Borrowings ($B) 3

35 30 25 20 15 10 5 -

$20 $23 $20 $15 $0

3Q10 4Q10 1Q11 2Q11 3Q11

Commercial paper Master Notes

1 Global Excess Liquidity Sources include cash and high-quality, liquid, unencumbered securities, limited to U.S. government securities, U.S. agency securities, U.S. agency MBS, and a select group of non-U.S. government and supranational securities, and is readily available to meet funding requirements as they arise. It does not include Federal Reserve Discount Window or FHLB borrowing capacity. Transfers of liquidity from the bank or broker dealer subsidiaries are subject to certain regulatory restrictions.

2 Time to Required Funding is a debt coverage measure and is expressed as the number of months unsecured holding company obligations of both Bank of America Corporation and Merrill Lynch & Co., Inc. can be met using only its Global Excess Liquidity Sources without issuing debt or sourcing additional liquidity. For 2Q11 and 3Q11, we have also included in the amount of unsecured contractual obligations the $8.6B liability, including estimated costs, for the previously announced settlement agreement with BNY Mellon.

3 Included in Commercial paper and other short-term borrowings on the Corporation’s Consolidated Balance Sheet.

Deposits

Inc/(Dec)

$ in millions 3Q11 2Q11 3Q10

Net interest income 1 $1,987 ($294) $33

Noninterest income 1,132 112 (60)

Total revenue, net of interest expense 3,119 (182) (27)

Provision for credit losses 52 21 (10)

Noninterest expense 2,627 18 (147)

Income tax expense 1 164 (73) 52

Net income $276 ($148) $78

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average deposits $422.3 $426.7 $411.1

Client brokerage assets 61.9 69.0 60.0

Operating cost per $ deposit 2 2.47% 2.45% 2.68%

Rate paid on deposits 0.25% 0.29% 0.41%

Return on average economic capital 3 18.8% 30.0% 12.4%

Net income of $276MM was down $148MM from 2Q11 driven by lower net interest income Average deposits are up from 3Q10 but seasonally down from 2Q11 Rates paid on deposits declined from 29bps to 25bps from 2Q11 Third consecutive quarter of positive net new checking accounts Customer Solutions pilot trending above expectations

– Nationwide roll-out is expected to begin in 2012 Hired more than 300 Financial Solutions Advisors and Small Business Bankers to execute on our customer focused strategy to deepen relationships

1 Fully taxable-equivalent basis.

2 Operating cost per dollar deposit represents annualized noninterest expense, excluding certain expenses, as a percentage of average deposits.

3 Calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. This is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

Card Services

Inc/(Dec)

$ in millions 3Q11 2Q11 3Q10

Net interest income 1 $2,823($82)($677)

Noninterest income 1,684(267)(193)

Total revenue, net of interest expense 4,507(349)(870)

Provision for credit losses 1,037 735(2,029)

Noninterest expense 1,458(74)(10,376)

Income tax expense 1 748(335) 427

Net income $1,264($675) $11,108

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average loans and leases $123.5 $127.3 $141.1

Delinquent dollars 30 days+ 5.1 5.4 8.3

30 days+ delinquency ratio 4.1% 4.3% 6.0%

Delinquent dollars 90 days+ 2.7 3.1 4.5

90 days+ delinquency ratio 2.2% 2.4% 3.2%

Net charge-offs 2.0 2.4 3.9

as a % of avg. loans 6.5% 7.7% 11.0%

Credit card purchase volumes 53.6 54.1 51.9

Debit card purchase volumes 62.8 64.0 58.0

Return on average economic capital 2 49.3% 74.8% 16.6%

Net income of $1.3B was down $675MM compared to 2Q11 from higher provision expense and lower revenue, partially offset by lower noninterest expense Revenue decline driven by 2Q11 gains on U.S. portfolio sales, and the NII impact from lower yields and loan balances 3Q10 results were impacted by $10.4B goodwill impairment charge Provision expense increased $735MM from 2Q11 as a $403MM, or 17%, improvement in net charge-offs was more than offset by $1.1B in lower reserve reductions Average loans declined $3.8B from 2Q11 due to higher payments, charge-offs, portfolio divestitures and continued run-off of non-core portfolios

– Non-core portfolios declined $1.1B from 2Q11 Credit card purchase volume increased 5% from 3Q10 and was up modestly from 2Q11 after adjusting for portfolio divestitures New U.S. credit card accounts continue to grow and are up 17% from 2Q11 - U.S. credit card net losses improved for the 8th consecutive quarter while 30+ day delinquency rate is at historical lows During 3Q11, as a result of the decision to exit the international consumer card businesses, the Global Card Services business segment was renamed to Card

Services. The international consumer card business results have been moved to All Other and prior periods have been reclassified

1 Fully taxable-equivalent basis.

2 Calculated as net income, excluding goodwill impairment charge, cost of funds and earnings credit on intangibles, divided by average economic capital. This is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

Global Wealth & Investment Management

Inc/(Dec) $ in millions 3Q11 2Q11 3Q10

Net interest income 1 $1,411 ($160) $66 Noninterest income 2,819 (100) 266 Total revenue, net of interest expense 4,230 (260) 332 Provision for credit losses 162 90 35 Noninterest expense 3,516 (115) 171 Income tax expense 1 205 (76) 48 Net income $347 ($159) $78

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Total client balances $2,063.3 $2,202.0 $2,120.9

Average loans and leases 102.8 102.2 99.1

Average deposits 255.7 255.2 234.8 Liquidity AUM flows (2.6) (3.8) (6.6) Long-term AUM flows 4.5 4.5 4.0 Financial advisors (in thousands) 16.7 16.2 15.5 Pre-tax margin 13.0% 17.5% 10.9% Return on average economic capital 2 19.7% 30.0% 15.8%

Net income of $347MM was down $159MM from 2Q11 on lower revenue and higher credit costs Revenue down from 2Q11

– Lower NII due to current interest rate environment

– Lower transactional revenue reflecting lower market activity

– Record Asset Management fees driven by continued inflows into long-term AUM

Provision expense increased driven by reserve releases in 2Q11 Client balances fell 6.3% driven almost entirely by lower market levels Long-term AUM continues to experience inflows partially offset by liquidity outflows Overall rates paid on GWIM deposits declined 7bps in 3Q11

9th consecutive quarter of increased client facing associates driven by the addition of 475 net Financial Advisors in 3Q11

1 Fully taxable-equivalent basis.

2 Calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. This is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

Global Commercial Banking

Inc/(Dec) $ in millions 3Q11 2Q11 3Q10

Net interest income 1 $1,743 ($84) ($110) Noninterest income 790 (194) 10 Total revenue, net of interest expense 2,533 (278) (100) Provision for credit losses (150) 267 (706) Noninterest expense 1,018 (51) (43) Income tax expense 1 615 (163) 243 Net income $1,050 ($331) $406

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average loans and leases $188.0 $189.3 $199.3 Average deposits 173.8 166.5 148.6 Reservable utilized criticized exposure 22.8 27.0 36.3 Nonperforming loans, leases and foreclosed properties 6.6 7.4 9.4 Credit revenue 1.4 1.6 1.5

Treasury revenue 1.2 1.3 1.1

Return on average economic capital 2 20.8% 28.0% 11.5%

Net income of $1.1B was down $331MM from 2Q11 driven by lower reserve releases and revenue declines

– Revenue declined due to lower NII and the absence of a gain that occurred in 2Q11

– Expenses are down from 2Q11 as the business continues to tightly manage costs Average deposits grew $7.4B from 2Q11 as customers remained highly liquid Average loans declined $1.3B from 2Q11

– Commercial real estate loans were down $2.4B

– Commercial and Industrial loans were flat while auto loans increased $1.2B

Asset quality continued to improve from 2Q11

– Nonperforming loans and foreclosed properties declined $784MM or 11%

– Reservable utilized criticized exposure decreased $4.3B or 16%

1 Fully taxable-equivalent basis.

2 Calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. This is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

Global Banking & Markets

Inc/(Dec) $ in millions 3Q11 2Q11 3Q10

Net interest income 1 $1,846 $59 ($38) Noninterest income 3,376 (1,629) (1,813) Total revenue, net of interest expense 5,222 (1,570) (1,851) Provision for credit losses 15 97 172 Noninterest expense 4,480 (228) 169 Pre-tax income 727 (1,439) (2,192) Income tax expense 1 1,029 422 (422) Net loss ($302) ($1,861) ($1,770)

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average loans and leases $120.1 $109.5 $98.9 Average deposits 121.4 116.9 96.0 Average trading-related assets 490.4 501.0 507.0 Global Markets risk weighted assets 2 257.1 259.9 321.4 Sales and trading revenue 2.8 3.8 4.4

Investment banking fees 1.0 1.6 1.3

Corporate banking revenue 1.4 1.4 1.3 Proprietary trading revenue - 0.2 0.3 Average VaR ($ in MM) 163.7 229.2 185.0 Return on average economic capital 3 n/m 23.2% 14.6%

Net loss of $302MM includes $774MM charge related to the deferred tax asset (DTA) as a result of a change in the UK statutory tax rate Excluding the impact of the UK tax rate change, net income of $472MM was down $1.1B from 2Q11 on lower sales and trading results and investment banking fees Sales and trading revenue of $2.8B declined $1.0B from 2Q11 and was down $1.7B from 3Q10

– Results include DVA gains of $1.7B in 3Q11 compared to gains of $121MM in 2Q11 and a loss of $34MM in 3Q10. 12% of the 3Q11 DVA was incurred in the equity business

– 3Q11 impacted by adverse market conditions across fixed income products with extreme volatility in credit markets

– Risk aversion has slowed customer activity as reflected in the reduction in VaR

Investment banking fees declined from a record 2Q11 due to market uncertainty and decline in global fee pools

– Bank of America Merrill Lynch remains ranked No. 2 globally in net investment banking fees in 3Q11 Average loan and lease balances increased $10.7B from 2Q11 from growth in international and domestic commercial loans and international trade finance Legacy exposures declined 3% to $16.6B led by reductions in ARS and CDOs; exposures are down 28% YTD 2011

1 Fully taxable-equivalent basis.

2 Risk weighted assets are defined under Basel I rules.

3 Calculated as net income, excluding cost of funds and earnings credit on intangibles, divided by average economic capital. This is a non-GAAP measure. We believe the use of this non-GAAP measure provides additional clarity in assessing the results of the segments. Other companies may define or calculate this measure differently. For reconciliation to GAAP measures, see the accompanying reconciliations in the earnings press release and other earnings-related information.

Mortgage Business Transformation

From

Market share driven

Multi-channel production

Adding MSRs

Regular and default servicing together

Ancillary businesses

To

Integrated into consumer franchise

– 38K Home Loan referrals to Consumer Banking in 3Q11

– 162K Consumer Banking referrals to Home Loans in 3Q11

Direct to consumer

– Exited or exiting Wholesale and Correspondent channels

Reducing MSRs

– As of 3Q11, completed sale of servicing on 150K loans

– Additional sales will take place in 4Q11

– Exit of Correspondent channel will result in adding less MSRs in the future

Legacy Asset Servicing established

Exiting non-core activities (e.g., Balboa, reverse mortgage, etc.)

Consumer Real Estate Services

3Q11

Less Mortgage- Adjusted 3Q11

3Q11 Reported related and Other CRES Less

Results Selected Selected Items 1

$ in millions Adjustments

Total revenue, net of interest expense 2 $2,822($278) $3,100

Provision for credit losses 918 - 918

Noninterest expense 3,852 640 3,212

Income tax benefit 2(811)(382)(429)

Net loss($1,137)($536)($601)

2Q11

Less Mortgage- Adjusted 2Q11

2Q11 Reported related and Other CRES Less

Results Selected Selected Items 1

$ in millions Adjustments

Total revenue, net of interest expense 2($11,315)($14,786) $3,471

Provision for credit losses 1,507 - 1,507

Noninterest expense 8,645 5,219 3,426

Income tax benefit 2(6,948)(6,439)(509)

Net loss($14,519)($13,566)($953)

Selected CRES related items ($ in millions) 3 3Q11 2Q11

Representations and warranties provision ($278) ($14,037) MSR write-down 4 - (1,501) Balboa sale gain, net of fees - 752 Goodwill impairment charge - (2,603) Litigation expense 5 (290) (1,900) Assessments and waivers costs (350) (716)

3Q11 net loss of $1.1B improved $13.4B over the second quarter primarily as a result of selected items taken in 2Q11 Excluding the selected items for the two quarters, the net loss in 3Q11 improved primarily as lower credit loss provision and improved net interest income offset less favorable MSR hedge results Home Loans produced a modest profit in the quarter while Legacy Asset Servicing recorded a loss from elevated expenses Servicing income, excluding noted items, declined $0.4B driven by less favorable hedge results Core production income was flat vs. 2Q11 as improved margins were offset by lower lock volumes

3Q11 provision for credit losses improved as portfolio trends continued to stabilize During the quarter, the MSR asset decreased by $4.5B from $12.4B in 2Q11 to $7.9B driven primarily by a decline in interest rates

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average loans and leases $120.1 $121.7 $127.7

Total Corporation home loan originations:

First mortgage 33.0 40.4 71.9

Home equity 0.8 1.1 2.1

MSR, end of period (EOP) 7.9 12.4 12.3

Capitalized MSR (bps) 52 78 73

Serviced for others, (EOP in trillions) 1.5 1.6 1.7

Net interest income 0.9 0.6 1.3

Servicing income 6 1.3 1.7 0.8

Core production income 0.8 0.8 1.8

Rep and warranty expense(0.3)(14.0)(0.9)

1 Represents non-GAAP financial measure.

2 Fully taxable-equivalent basis.

3 Items shown are on a pre-tax basis.

4 Excludes net positive hedge activity of approximately $628MM in 2Q11.

5 3Q11 amount is included in overall mortgage-related litigation amount of $0.5 billion on the Expenses slide.

6 2Q11 amount excludes MSR write-down of $1.5 billion.

Legacy Asset Servicing ($B)

3Q11 2Q11 Change

60+ delinquent first mortgages in servicing 1,158 1,211(53)

portfolio (# of loans in thousands)

First mortgage servicing portfolio 60+

delinquency rate (%) 28% 28% -

Pre-tax loss (excl. notable items) 1($1.4)($2.2) $0.8

Representations and warranties provision $0.3 $14.0($13.8)

Noninterest expense (excl. notable items) 2 $1.9 $1.9 -

Staffing (in thousands) 3 42.1 40.4 1.7

Continue to make progress in reducing delinquent serviced loans as modifications, foreclosures and short sales outpace new entrants

1 Notable items include representations and warranties expense, litigation expense, and assessments and waivers fees. These items are listed the Consumer Real Estate Services slide.

2 Notable items include litigation expense, and assessments and waiver fees. These items are listed on the Consumer Real Estate Services slide.

3 Staffing includes full-time equivalent associates, offshore associates and contractors.

All Other 1

Inc/(Dec)

$ in millions 3Q11 2Q11 3Q10

Total revenue, net of interest expense 2 $6,269 $3,721 $5,026

Provision for credit losses 1,373 (469) 933

Noninterest expense 662 -(306)

Income tax benefit 2 (500)(660) 23

Net income $4,734 $4,850 $4,376

Key Indicators ($ in billions) 3Q11 2Q11 3Q10

Average loans and leases $286.8 $287.8 $268.1

Average deposits 52.9 48.1 55.5

Book value of Global Principal Investments 6.9 10.8 12.2

Total BAC equity investment exposure 26.9 44.1 55.7

Net income of $4.7B was primarily driven by a decrease in the fair value of our structured liabilities due to widening credit spreads Equity investment income included the gain on sale of CCB shares of $3.6B partially offset by losses of

$2.2 billion in other equity investments

Revenue is positively impacted by the following selected items:

$ in millions 3Q11 2Q11 3Q10

FVO on structured liabilities $4,506 $214 ($190)

Gains on sales of debt securities 697 831 794

Equity investment income 1,382 1,136 266

Noninterest expense improved compared to 3Q10 due to lower merger and restructuring charges During 3Q11, as a result of the decision to exit the international consumer card business, the international consumer credit card business results have been moved to All Other from Card Services and prior periods have been reclassified

1 All Other includes the discontinued real estate portfolio, Global Principal Investing business, the international consumer card business, activities of our strategic investment portfolio and our discretionary portfolio used to provide interest rate risk management on our balance sheet.

2 Fully taxable-equivalent basis.

Expenses

3Q11 Noninterest Expense ($B)

3Q11 2Q11

Total noninterest expense $17.6 $22.9 Mortgage-related selected items Litigation expense 0.5 1.9 Assessments and waivers costs 0.4 0.7 CRES goodwill impairment charge — 2.6

• Noninterest expense decreased $5.3B from 2Q11

• 3Q11 included increased servicing costs in our mortgage business as well as increased costs of adding client-facing professionals across targeted growth areas offset by reduced personnel in other areas of the company

– Among the many client facing associates added in growth areas during the quarter were 475 Financial Advisors, 176 Financial Solutions Advisors and 146 Small Business Bankers

– Average FTE in 3Q11 290,509 vs. 287,839 in 2Q11

– Ending FTE at 3Q11 288,739 vs. 288,084 in 2Q11, of which approximately 2K have been notified of termination but are still in FTE at 3Q11

• 3Q11 included revenue-related incentive reductions given revenue declines, particularly in our capital markets businesses

Consumer Credit Trends

Inc/(Dec) $ in millions 3Q11 2Q11 3Q10

Net charge-offs $4,475 ($687) ($1,631)

30+ performing delinquencies 1 12,552 (965) (5,359)

Nonperforming loans and foreclosed properties 21,039 (236) (1,875) Provision expense 3,466 (312) (1,336) Allowance for loan and lease losses 30,257 (1,627) (5,104) Allowance for loan and lease losses excl. CFC PCI 2 22,018 (1,627) (7,810)

% coverage of loans and leases 3 4.9% (14)bps (67)bps

% coverage of loans and leases excl. CFC PCI 2, 3 3.8% (19)bps (122)bps # times of annualized net charge-offs 1.70x 0.16x 0.24x # times of annualized net charge-offs excl. CFC PCI 2 1.24x 0.10 x 0.01 x

Consumer Net Charge-offs ($MM)

$4,000 $3,000 $2,000 $1,000 $-

$2,013 $1,092 $989 $301 $56

3Q10 4Q10 1Q11 2Q11 3Q11

Residential mortgage Home equity Credit card

Direct/Indirect Other Consumer

Net charge-offs declined $687MM in 3Q11 compared to 2Q11

– Driven by continued improvement in the U.S. credit card portfolio and declines in consumer real estate 30+ performing delinquencies (excluding fully insured home loans) improved 7% from 2Q11 Nonperforming loans and foreclosed properties continued to decline Total provision expense was $3.5B ($4.5B charge-offs and reserve reduction of $1.0B)

$30.3B allowance for loan and lease losses provides coverage for 4.90% of loans compared to $31.9B and 5.04% coverage in 2Q11

– Allowance covers 1.70 times current period annualized net charge-offs compared to 1.54 times in 2Q11 (excluding PCI allowance: 1.24 times in 3Q11 vs. 1.14 times in 2Q11)

1 Excludes FHA-insured loans and other loans individually insured under long-term standby agreements.

2 Represents non-GAAP financial measure.

3 Excludes FVO loans.

Residential Mortgage and Home Equity 30+ Performing Delinquencies

Residential Mortgage, 30+ Performing Past Due ($B,%) 1, 2

$8.0 $6.0 $4.0 $2.0

2.3%

$5.7

3Q08

3.1%

$7.0

3Q09

2.8% $5.3 3Q10

2.8% $5.2 4Q10

2.6% $4.4 1Q11

2.5% $4.3 2Q11

2.4% $4.0 3Q11

3.5% 3.0% 2.5% 2.0% 1.5% 1.0% 0.5% 0.0%

30+ day past due 30+ day past due %

Home Equity, 30+ Performing Past Due ($B,%) 2

$2.5 $2.0 $1.5 $1.0

1.4%

$1.9

3Q08

1.6%

$2.2

3Q09

1.6% $2.0 3Q10

1.5% $1.9 4Q10

1.5% $1.8 1Q11

1.4% $1.7 2Q11

1.5% $1.7 3Q11

2.0% 1.5% 1.0% 0.5% 0.0%

30+ day past due 30+ day past due %

1 Excludes FHA-insured loans and other loans individually insured under long-term standby agreements.

2 Excludes PCI loans.

Consumer Nonperforming Loans, Leases and Foreclosed Properties (NPAs)

Residential Mortgage NPAs ($MM)

$25,000

$ 20,000 $15,000 $10,000 $5,000 $0

$19,396

$13,393

$6,003

3Q10

$18,676

$13,734

$4,942

4Q10

$18,493

$13,703

$4,790

1Q11

$17,971 $13,364

$4,607

2Q11

$17,676

$13,092

$4,584

3Q11

Resi < 180 DPD Resi ³ 180 DPD

$4,000 $3,000 $2,000 $1,000 $0

$2,768

$878

$1,890

3Q10

$2,763

$985

$1,778

4Q10

$2,633

$1,008

$1,625

1Q11

$2,417

$984

$1,433

2Q11

$2,397

$1,029

$1,368

3Q11

Home Equity <180 DPD Home Equity ³ 180 DPD

Consumer Real Estate NPAs continue to show modest improvement as balances have declined five straight quarters Residential Mortgage NPAs declined from 2Q11 as charge-offs, driven by elevated refresh losses, paydowns and returns to performing status continue to outpace new nonaccrual loans

Home Equity NPAs decreased from 2Q11 driven by charge-offs, returns to performing status and paydowns outpacing inflows

Commercial Credit Trends

Inc/(Dec)

$ in millions 3Q11 2Q11 3Q10

Net charge-offs $611 $108($480)

Nonperforming loans, leases and foreclosed properties 8,020(763)(3,622)

Reservable criticized 30,901(4,209)(16,797)

Provision expense(59) 464(653)

Allowance for loan and lease losses 4,825(603)(3,395)

% coverage of loans and leases 1 1.59%(23)bps(119)bps

# times annualized net charge-offs 1.99x(0.70)x 0.09x

Commercial Net Charge-offs 1 ($MM)

$500 $400 $300 $200 $100 $0

$296

$220

$96

3Q10 4Q10 1Q11 2Q11 3Q11

Commercial & Industrial Small business Commercial real estate

Net charge-offs increased $108MM in 3Q11 compared to 2Q11

– Higher net charge-offs in commercial real estate were covered by reserves Nonperforming loans, leases and foreclosed properties decreased $763MM (9%) from 2Q11 and

$3.6B (31%) from 3Q10

– 7th consecutive quarter with declines; 41% decline from 4Q09 peak Reservable criticized decreased $4.2B (12%) from 2Q11 and $16.8B (35%) from 3Q10

– 8th consecutive quarter with declining balances; 49% decline from 3Q09 peak Total provision benefit of $59MM included a reserve reduction of $670MM, which includes the reserve for unfunded lending commitments

$4.8B allowance for loan and lease losses now covers 1.99 times current period annualized net charge-offs compared to 2.69 times in 2Q11

1 Excludes FVO loans.

3Q11 Results by Business Segment

3Q11 Results by Business Segment ($MM)

Consumer Global Global Global

Total Card Wealth &

Deposits Real Estate Commercial Banking & All Other

Corporation Services Investment

Services Banking Markets Management

Net interest income 1 10,739 $1,987 $2,823 $923 $1,743 $1,846 $1,411 $6

Card income 1,911 1 1,720 - 67 32 19 72

Service charges 2,068 1,071 5 - 563 410 20(1)

Investment and brokerage services 3,022 45 - - 6 613 2,364(6)

Investment banking income (loss) 942 - - - 7 1,048 50(163)

Equity investment income 1,446 - 1 - 36 21 6 1,382

Trading account profits (losses) 1,604 - - - (13) 1,621 25(29)

Mortgage banking income (loss) 1,617 - - 1,800 - 9 5(197)

Insurance income 190 3 27 23 - - 79 58

Gains (losses) on sales of debt securities 737 - (1) 6 - 36(1) 697

All other income (loss) 4,426 12(68) 70 124(414) 252 4,450

Total noninterest income 17,963 1,132 1,684 1,899 790 3,376 2,819 6,263

Total revenue, net of interest expense 1 28,702 3,119 4,507 2,822 2,533 5,222 4,230 6,269

Total noninterest expense 17,613 2,627 1,458 3,852 1,018 4,480 3,516 662

Pre-tax, pre-provision earnings (loss) 1 11,089 492 3,049(1,030) 1,515 742 714 5,607

Provision for credit losses 3,407 52 1,037 918(150) 15 162 1,373

Income (loss) before income taxes 7,682 440 2,012(1,948) 1,665 727 552 4,234

Income tax expense (benefit) 1 1,450 164 748(811) 615 1,029 205(500)

Net income (loss) $6,232 $276 $1,264($1,137) $1,050($302) $347 $4,734

1 Fully taxable-equivalent basis. Fully taxable-equivalent basis and pre-tax, pre-provision are non-GAAP financial measures.

Impact of FHA and Other Fully Insured Home Loans on Delinquencies 1

FHA and Other Fully Insured Home Loans ($MM)

3Q10 4Q10 1Q11 2Q11 3Q11

FHA and Other Fully insured Home Loans 30+ Performing Delinquencies $18,256 $19,150 $22,961 $23,802 $24,140

Change from prior period 1,203 894 3,811 841 338

30+ Performing Delinquency Amounts

Total consumer as reported 36,167 36,254 38,072 37,319 36,692

Total consumer excluding FHA and other fully insured home loans 2 17,911 17,104 15,111 13,517 12,552

Residential mortgages as reported 23,573 24,267 27,381 28,091 28,146

Residential mortgages excluding FHA and other fully insured home loans 2 5,317 5,117 4,420 4,289 4,006

30+ Performing Delinquency Ratios

Total consumer as reported 5.70% 5.63% 6.00% 5.90% 5.94%

Total consumer excluding FHA and other fully insured home loans 2 3.23% 3.16% 2.90% 2.63% 2.54%

Residential mortgages as reported 9.69% 9.41% 10.45% 10.55% 10.56%

Residential mortgages excluding FHA and other fully insured home loans 2 2.82% 2.84% 2.57% 2.52% 2.44%

• During 3Q11, our 30+ performing delinquency trends continued to improve

– Total consumer 30+ performing delinquency excluding fully insured home loans improved for the 10th consecutive quarter, down $965MM

– Total consumer credit card of $651MM led the decline

1 Includes FHA-insured loans and loans individually insured under long-term standby agreements.

2 Excludes PCI loans.

Home Loans Asset Quality Key Indicators

Home Loans Asset Quality Indicators ($MM)

Residential Mortgage 1 Home Equity Discontinued Real Estate 1

3Q11 2Q11 3Q11 2Q11 3Q11 2Q11

Excluding Excluding

Countrywide Countrywide Excluding Excluding Excluding Excluding

Purchased Purchased Countrywide Countrywide Countrywide Countrywide

As As As As As As

Credit- Credit- Purchased Purchased Purchased Purchased

Reported Reported Reported Reported Reported Reported

impaired and impaired and Credit- Credit- Credit- Credit-

Fully Insured Fully Insured impaired impaired impaired impaired

Loans Loans

Loans end of period $266,516 $164,373 $266,333 $169,865 $127,736 $115,594 $130,654 $118,339 $11,541 $1,300 $12,003 $1,126

Loans average 267,308 167,040 264,258 171,285 129,125 116,918 131,786 119,416 11,967 1,145 12,450 1,292

Net charge-offs $989 $989 $1,104 $1,104 $1,092 $1,092 $1,263 $1,263 $24 $24 $26 $26

% of average loans 1.47% 2.35% 1.67% 2.58% 3.35% 3.70% 3.84% 4.24% 0.80% 8.34% 0.84% 8.09%

Allowance for loan losses $5,832 $4,511 $5,845 $4,600 $12,998 $7,925 $13,111 $8,036 $1,902 $57 $1,997 $78

% of loans 2.19% 2.74% 2.19% 2.71% 10.18% 6.86% 10.03% 6.79% 16.48% 4.39% 16.64% 6.91%

Average refreshed (C)LTV 2 84 85 88 88 81 83

90%+ refreshed (C)LTV 2 37% 38% 45% 47% 29% 32%

Average refreshed FICO 712 715 726 725 634 636

% below 620 FICO 16% 15% 12% 12% 46% 47%

1 Excludes FVO loans.

2 Loan-to-value (LTV) calculations apply to the residential mortgage and discontinued real estate portfolio. Combined loan-to-value (CLTV) calculations apply to the home equity portfolio.

Home Equity ($B)

3Q11 2Q11 1Q11 4Q10 3Q10

% Stand-alone (non piggy-back) 92% 91% 90% 90% 90%

Legacy Countrywide PCI loans $12.1 $12.3 $12.5 $12.6 $12.8

Allowance for PCI loans 5.1 5.1 4.9 4.5 4.4

Non PCI first-lien loans 24.9 25.1 25.4 24.8 25.3

Non PCI second-lien loans 90.7 93.3 95.7 100.5 103.5

Second liens > 100% CLTV 43% 43% 40% 36% 36%

% Current 94% 94% 93% 93% 93%

Allowance for non PCI loans $7.9 $8.0 $7.9 $8.4 $8.5

Total net charge-offs 1 1.1 1.3 1.2 1.3 1.4

On the $90.7B second-lien positions approximately 43%, or $38.8B, have CLTV>100%

– Does not mean entire second-lien position is a loss in the event of default

– Assuming proceeds of 85% of the collateral value, we estimate collateral value of $10.6B available for second-liens

1 Charge-offs do not include Countrywide PCI portfolio as they were considered in establishing nonaccretable difference in the original purchase accounting.