Investor Fact BookMid Year 2009

Equity Investor Relations: Fixed Income Investor Relations:Equity Investor Relations:

Kevin Stitt 704.386.5667

Lee McEntire 704.388.6780

Julie Park 704.386.4472

Fixed Income Investor Relations:

Patricia Noneman 980.388.3591

Jonathan Blum 212.449.3112

Grace Yoon 212.449.7323

Internet address: http://investor.bankofamerica.com

Table of Contents

I Th C III B i S tI. The CompanyOur Company Today 2

Leadership Team 3

Board of Directors 4

Industry Rankings 5

Bank of America Today 6

U.S. Deposit Market Share 7

III. Business SegmentsCurrent Environment 42

IV. DepositsOverview 43-45

Financials 46-47

Banking Center Network 8

ATM Network 9

II. Financial OverviewFinancial Highlights 11

Supplemental Financial Data 12

Income Statement 13

V. Global Card ServicesOverview 48-49

Financials 50-51

VI. Home Loans & InsuranceOverview 52-55

Balance Sheet Composition 14

Balance Sheet 15

Earnings Per Share 16

Dividends Per Share and Payout Ratio 17

Return on Equity 18

Return on Assets 19

Noninterest Income – Annual 20

Financials 56-57

VII. Global BankingOverview 58-62

Financials 63-64

VIII Global MarketsNoninterest Income Annual 20

Noninterest Income – Quarterly 21

Noninterest Expense – Annual 22

Noninterest Expense – Quarterly 23

Rate Environment 24

Net Interest Income and Yields – Annual 25

Net Interest Income and Yields – Quarterly 26

Quarterly Average Balance Sheet and Yields Table 27

VIII. Global MarketsOverview 65-66

Financials 67

IX. Global Wealth & Investment ManagementOverview 68-69

Financials 70-72Quarterly Average Balance Sheet and Yields Table 27

Loan Portfolio 28

Nonperforming Assets 29-30

Net Charge-Offs and Provision Expense 31-32

Pre-Provision, Pre-Tax Income vs. Provision Expense 33

Allowance Allocation 34

Performance by Geographic Area 35

Capital Levels 36

X. All OtherFinancials 73

Global Principal Investments 74

Capital Levels 36

Efficiency Ratio 37

Debt Ratings 38

Preferred Stock Information 39

Trust Preferred and Hybrid Securities Information 40

1

All information is as of June 30, 2009, unless stated otherwise.

Our Company Today

Bank of America is one of the world's largest financial institutions, serving individual consumers, small- and middle-marketBank 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 53 million consumer and small business relationships with more than 6,100 retail banking offices, nearly 18,500 ATMs and award-winning online banking with 29 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 more than 4 million small business owners through a suite of innovative, easy-to-use online products and services. The company servesclients in more than 150 countries. Bank of America Corporation stock (NYSE: BAC) is a component of the Dow Jones Industrial A g d i li t d th N Y k St k E h gAverage and is listed on the New York Stock Exchange.

Strengths

Ability to Leverage Size and Scale – Our size, scale and global presence enable us to provide our customers and clients with a full range of world-class products and

Opportunities

Customer/Client Satisfaction – We are working to improve satisfaction, reduce problems and create solutions.

T l d L d hi W i d i iclients with a full range of world class products and services, delivered with convenience and efficiency.

Diverse, Market-leading Businesses – Our businesses have leading market shares in every major sector of the industry, creating the opportunity to build broad, deep relationships and to generate strong, balanced earnings.

Integrated Delivery – We provide comprehensive financial solutions that fit customers’/clients’ specific needs.

Talent and Leadership – We are attracting and retaining associates who can lead in a global organization, and we are building on our leading staffing, training and leadership development programs.

Executing Transition – As we integrate our businesses, we are bringing together a wide spectrum of products and services for customers and clients while improving quality, accuracy and efficiency and lowering costs.

Service Quality – We have a culture of service excellence and the skills, technology and infrastructure to back it up.

Capital Strength – Our balance sheet strength and ample liquidity give us the financial flexibility to support our customers and clients even during challenging economic times.

Community Support – We’re working to strengthen the many communities we serve through community development banking ($1.5 trillion over ten years), philanthropy ($2 billion over ten years), volunteerism (900,000 hours in 2008) and environmental lending and investments ($20 billion over ten years).

Investing for Growth – We are investing in technology and innovation to improve productivity and better meet

Our Goals

For Customers and Clients: To increase satisfaction and loyalty by providing the best value and service. •Deliver high-quality financial products and services.•Be a trusted adviser for financial solutions.

associate, customer, client and shareholder needs.

•Deepen relationships and earn loyalty.

For Associates: To create a workplace in which all associates can excel and rewards are based on results.• Attract and retain a world-class work force.• Foster an inclusive and diverse workplace.•Enable associates to grow and succeed while balancing work, family and health.

For Shareholders: To produce strong and consistent financial returns by attracting and retaining customers and clients, and by deepening relationships in all our businesses.

2

For Communities : To strengthen the communities we serve through community development banking, philanthropy, volunteerism and environmental initiatives.

Bank of America Leadership

K th D L iKenneth D. LewisChief Executive Officer and President, Bank of America Corporation

J. Steele AlphinChief Administrative Officer, Bank of America Corporation

Gregory L. Curl Chief Risk Officer, Bank of America Corporation

David C. Darnell President, Global Commercial Banking, Bank of America Corporation

Barbara J. Desoer President, Home Loans & Insurance, Bank of America Corporation

Anne M. FinucaneGlobal Chief Strategy and Marketing Officer, Bank of America Corporationgy g , p

Sallie L. KrawcheckPresident, Global Wealth & Investment Management, Bank of America Corporation

Thomas K. MontagPresident, Global Banking and Markets, Bank of America Corporation

Brian T. Moynihan President, Consumer & Small Business Banking, Bank of America Corporation

Joe L. PriceChief Financial Officer, Bank of America Corporation

Richard K. StruthersPresident, Global Card Services, Bank of America Corporation

3

Bank of America Board of Directors

Directors

Walter E. Massey, (70)Chairman of the Board, Bank of America Corporation

Susan S. Bies, (62) Former Member, Board of Governors of the Federal Reserve System

William P. Boardman, (67)Retired Vice Chairman, Banc One Corporation and Retired Chairman of the Board, Visa International

Frank P. Bramble, Sr., (60)Former Executive Officer, MBNA Corporation

Virgis W. Colbert, (69) Senior Advisor, MillerCoors Company

Charles K. Gifford, (66)Former Chairman, Bank of America Corporation

D. Paul Jones, (66) Former Chairman, Chief Executive Officer and President, Compass Bancshares, Inc.

Kenneth D. Lewis, (61)Chief Executive Officer and President, Bank of America Corporation

Monica C. Lozano, (52)Publisher and Chief Executive Officer, La Opinion

Thomas J. May, (61)Chairman, President and Chief Executive Officer, NSTAR

Donald E. Powell, (67)Former Chairman, Federal Deposit Insurance Corporation

Charles O. Rossotti, (68) ( )Senior Advisor, The Carlyle Group

Thomas M. Ryan, (56)Chairman, President and Chief Executive Officer, CVS/Caremark Corporation

Robert W. Scully, (59)Former Member, Office of the Chairman of Morgan Stanley

Bank of America Board of Directors as of August 21, 20094

Industry Rankings

TOP 10 U.S. BANKING COs.(1H09 EARNINGS*)

$ in Millions

1. Bank of America ($5,233)2. Wells Fargo ($4,959)

TOP 10 U.S. BANKING COs.(IN EQUITY @ 6/30/09)

$ in Millions

1. Bank of America ($255,152)2. JPMorgan Chase ($154,766)g ( )

3. Goldman Sachs ($4,377)4. JPMorgan Chase ($2,591) 5. Citigroup ($2,034)6. U.S. Bancorp ($640)7. PNC ($525)8. Bank of NY Mellon ($498)

2. JPMorgan Chase ($154,766) 3. Citigroup ($154,168)4. Wells Fargo ($121,382)5. Goldman Sachs ($62,813)6. Morgan Stanley ($46,586)7. PNC ($29,467)8 Bank of NY Mellon ($27 304)8. Bank of NY Mellon ($498)

9. BB&T ($392)10. M&T Bank ($95)

* Net income available to common shareholders

8. Bank of NY Mellon ($27,304)9. Capital One ($25,326) 10. U.S. Bancorp ($24,886)

TOP 10 U.S. BANKING COs.(IN ASSETS @ 6/30/09)

$ in Billions

1. Bank of America ($2,254)2 JPMorgan Chase ($2 027)

TOP 10 U.S. BANKING COs.(IN MARKET CAP @ 6/30/09)

$ in Billions

1. JP Morgan Chase ($134)2 Bank of America ($114)2. JPMorgan Chase ($2,027)

3. Citigroup ($1,847)4. Wells Fargo ($1,284)5. Goldman Sachs ($890)6. Morgan Stanley ($677)7. PNC ($280)8 U S Bancorp ($266)

2. Bank of America ($114)3. Wells Fargo ($113)4. Goldman Sachs ($77)5. Morgan Stanley ($39)6. Bank of NY Mellon ($35)7. U.S. Bancorp ($34)8 State Street ($23)8. U.S. Bancorp ($266)

9. Bank of NY Mellon ($203)10. SunTrust ($177)

8. State Street ($23)9. PNC ($18)10. Citigroup ($16)

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Bank of America Today – June 30, 2009

($ i illi t EPS d k t i )($ in millions, except EPS and market price)

June 30, 2009

Assets $2,254,394

Loans & leases 942,248

Domestic deposits 899,482

Foreign deposits 71,260

Shareholders' equity 255,152

Market capitalization 114,199

Market price 13.20

Common outstanding shares (in thousands) 8,651,459

Six Months Ended June 30, 2009

Revenue, net of interest expense $68,532

Net income (loss) 7,471

Net income (loss), applicable to common shareholders 5,233

Diluted EPS 0.75

Employees 282,408

Banking centers (Domestic) 6,109

ATMs (Domestic) 18,426

6

U.S. Deposit Market ShareU.S. Deposit Market Share

#1 (22%)WA

#1 (23%)ME#3

NH#2 (19%)

OR#4 (12%)

OR#2 (13%) ID

#4 (5%)

NV

IA#4 (3%) IL

NY

#4 (6%)

PA#7 (3%)

CT#1 (21%)

RI#2 (25%)

MA#1 (20%)

#3(9%)

MI#1

(16%)

CA#2 (21%)

CA#1 (23%)

#4 (5%)

AZ#3 (21%) NM

#2 (17%)

KS#1 (8%)

OK#5 (5%)

MO #2 (10%)

AR#3 (6%)

#2(11%)

TN #4 (6%)

GA

SC #2 (11%)

NC #3 (13%)

VA#3 (13%) MD

#1 (19%)

DC#2 (15%)

NJ #1 (21%)

( )

TX#1 (27%)

#3 (10%)

FL #2 (19%)

#2

#1

#3

#4+

7

Source: SNL Branch Data Source. U.S. Deposit Market Share (total domestic deposits) based on June 2008 deposit data, adjusted for completed transactions as of July 28, 2009.

Banking Center Network

Washington

Total U.S. Banking Centers: 6,109

MaineNew Hampshire36

Nevada

Idaho

Oregon

237

87

21

14Iowa

Connecticut173

Massachusetts302

4136

New Jersey

New York

Pennsylvania118

Rhode Island

48Michigan

252 385

Tennessee

California

VirginiaMissouri

District of Columbia

Illinois

MarylandKansas

North Carolina

South CarolinaArkansasOklahomaNew MexicoArizona

89

989

174 51 43

64

45

211

86

122

200

192

31

208133

Kentucky2

New Jersey393Delaware

2

Indiana6

Florida

Texas

Georgia

476

224

654

1-5051-7576-150151-200201-300>301

8

ATM Network

Total U.S. (Branded Only) ATMs: 18,426

736Washington Maine

New Hampshire83

Nevada

73

1,028

217

6243

14

21

34

1,328 179

655

New York

Massachusetts

New Jersey

Pennsylvania

OhioI di

MichiganWisconsin

Iowa

Minnesota

Idaho

Oregon

Montana2

4Wyoming 4

South Dakota

Connecticut359

Rhode Island110

Nebraska3

301Nevada

502North Carolina

1346

14

262

72

690

114163

72163

4,035

3

633

707 29

590

100

485

331

301

Virginia

South Carolina

Missouri

District of Columbia

Delaware

Maryland

Indiana

Kentucky

Tennessee

Georgia

Illinois

Kansas

OklahomaNew Mexico

ColoradoUtah

Arizona

California

3

Arkansas

West Virginia1

1,446

6728

311,900

Georgia

Florida

Alabama

LouisianaTexas

1-5051-100101-300301-500501-1000>1001

9

Note that there is one branded ATM in Alaska

Financial Overview

Financial Highlights

(Dollars in millions, except per share information; shares in thousands)Second First Fourth T hird SecondQ uarter Q uarter Q uarter Q uarter Q uarter

2009 2008 2009 2009 2008 (1) 2008 2008

Income statement Net interest income $24,127 $20,612 $11,630 $12,497 $13,106 $11,642 $10,621Noninterest income 44,405 16,869 21,144 23,261 2,574 7,979 9,789 T otal revenue, net of interest expense 68,532 37,481 32,774 35,758 15,680 19,621 20,410 P rovision for credit losses 26,755 11,840 13,375 13,380 8,535 6,450 5,830 Noninterest expense, before merger and

restructuring charges 32 428 18 540 16 191 16 237 10 641 11 413 9 447

Six Months EndedJ une 30

restructuring charges 32,428 18,540 16,191 16,237 10,641 11,413 9,447 Merger and restructuring charges 1,594 382 829 765 306 247 212 Income tax expense (benefit) 284 2,099 (845) 1,129 (2,013) 334 1,511 Net income (loss) 7,471 4,620 3,224 4,247 (1,789) 1,177 3,410 P referred stock dividends 2,238 376 805 1,433 603 473 186 Net income (loss) applicable to common shareholders 5,233 4,244 2,419 2,814 (2,392) 704 3,224 Diluted earnings (loss) per common share 0.75 0.95 0.33 0.44 (0.48) 0.15 0.72A verage diluted common shares issued and outstanding 6,836,972 4,445,428 7,269,518 6,431,027 4,957,049 4,547,578 4,444,098Dividends paid per common share $0.02 $1.28 $0.01 $0.01 $0.32 $0.64 $0.64

Performance ratiosReturn on average assets 0.61 % 0.53 % 0.53 % 0.68 % n/m % 0.25 % 0.78 %Return on average common shareholders' equity 6.31 6.06 5.59 7.10 n/m 1.97 9.25 Return on average tangible common shareholders' equity (2) 20.47 16.87 16.90 24.37 n/m 8.92 25.17 Return on average tangible shareholders' equity (2) 10.59 12.85 8.86 12.42 n/m 6.11 18.12

A t period endBook value per share of common stock $22.71 $31.11 $22.71 $25.98 $27.77 $30.01 $31.11T angible book value per share of common stock (2) 11.66 11.87 11.66 10.88 10.11 10.50 11.87

Market price per share of common stock:C losing price $13.20 $23.87 $13.20 $6.82 $14.08 $35.00 $23.87High closing price for the period 14.33 45.03 14.17 14.33 38.13 37.48 40.86 Low closing price for the period 3.14 23.87 7.05 3.14 11.25 18.52 23.87

Market capitalization 114,199 106,292 114,199 43,654 70,645 159,672 106,292

Number of banking centers - domestic 6,109 6,131 6,109 6,145 6,139 6,139 6,131 Number of branded A T Ms - domestic 18,426 18,531 18,426 18,532 18,685 18,584 18,531 Full-time equivalent employees 282,408 206,587 282,408 286,625 240,202 247,024 206,587

(1) Due to a net loss for the three months ended December 31, 2008, the impact of antidilutive equity instruments were excluded from diluted earnings per share and average diluted common shares.

(2) T angible equity ratios and tangible book value per share of common stock are non-G AAP measures. For corresponding reconciliations of average tangible common shareholders' equity and tangible shareholders' equity to G AAP financial measures, see Supplemental F inancial Data on page 3. W e believe the use of these non-G AAP measures provide additional clarity in assessing the results of the C orporation.n/m = not meaningful

C ertain prior period amounts have been reclassified to conform to current period presentation.

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Supplemental Financial Data

(Dollars in millions)

Fully tax able-equivalent basis data

Second First Fourth T hird SecondQ uarter Q uarter Q uarter Q uarter Q uarter

2009 2008 2009 2009 2008 2008 2008

Net interest income $24,761 $21,228 $11,942 $12,819 $13,406 $11,920 $10,937T otal revenue, net of interest expense 69,166 38,097 33,086 36,080 15,980 19,899 20,726

S ix Months EndedJ une 30

Net interest yield 2.67 % 2.83 % 2.64 % 2.70 % 3.31 % 2.93 % 2.92 %Efficiency ratio 49.19 49.67 51.44 47.12 68.51 58.60 46.60

Reconciliation to G A A P financial measuresT he C orporation evaluates its business based upon ratios that utilize tangible equity which is a non-G A A P measure. Return on average tangible shareholders' equity measures the C orporation's earnings contribution as a percentage of shareholders’ equity reduced by goodwill and intangible assets (excluding mortgage servicing rights), net of related deferred tax liabilities. T he tangible equity ratio and the tangible common equity ratio represent shareholders’ equity, common or total as applicable, 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. T hese measures are used to evaluate the C orporation'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. A lso, the efficiency ratio measures the costs expended to generate a dollar of revenue. W e believe the use of these non-G AA P measures provides additional clarity in assessing the results of they p g p y gC orporation.

O ther companies may define or calculate supplemental financial data differently. See the tables below for supplemental financial data and corresponding reconciliations to G A AP financialmeasures for the three months ended J une 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and J une 30, 2008, and the six months ended J une 30, 2009 and 2008.

Reconciliation of average shareholders' equity to average tang ible shareholders' equity

Shareholders' equity $235,855 $158,078 $242,867 $228,766 $176,566 $166,454 $161,428G oodwill (85,956) (77,721) (87,314) (84,584) (81,841) (81,977) (77,815) Intangible assets (excluding MSRs) (11,539) (9,824) (13,595) (9,461) (8,818) (9,547) (9,618) Related deferred tax liabilities 3,946 1,766 3,916 3,977 1,913 1,683 1,687

Tang ible shareholders' equity $142,306 $72,299 $145,874 $138,698 $87,820 $76,613 $75,682

Reconciliation of average common shareholders' equity to average tang ible common shareholders' equity

C ommon shareholders' equity $167,153 $140,849 $173,497 $160,739 $142,535 $142,303 $140,243G oodwill (85,956) (77,721) (87,314) (84,584) (81,841) (81,977) (77,815) Intangible assets (excluding MSRs) (11,539) (9,824) (13,595) (9,461) (8,818) (9,547) (9,618) Related deferred tax liabilities 3,946 1,766 3,916 3,977 1,913 1,683 1,687

Tang ible common shareholders' equity $73,604 $55,070 $76,504 $70,671 $53,789 $52,462 $54,497

Reconciliation of period end shareholders ' equity to period end tang ible shareholders ' equity

Shareholders' equity $255,152 $162,691 $255,152 $239,549 $177,052 $161,039 $162,691G oodwill (86,246) (77,760) (86,246) (86,910) (81,934) (81,756) (77,760) Intangible assets (excluding MSRs) (13,245) (9,603) (13,245) (13,703) (8,535) (9,167) (9,603) Related deferred tax liabilities 3,843 1,679 3,843 3,958 1,854 1,914 1,679

Tang ible shareholders' equity $159,504 $77,007 $159,504 $142,894 $88,437 $72,030 $77,007

Reconciliation of period end common shareholders' equity to period end tang ible common shareholders' equity

C ommon shareholders' equity $196,492 $138,540 $196,492 $166,272 $139,351 $136,888 $138,540G oodwill (86,246) (77,760) (86,246) (86,910) (81,934) (81,756) (77,760) Intangible assets (excluding MSRs) (13,245) (9,603) (13,245) (13,703) (8,535) (9,167) (9,603) Related deferred tax liabilities 3,843 1,679 3,843 3,958 1,854 1,914 1,679

Tang ible common shareholders' equity $100,844 $52,856 $100,844 $69,617 $50,736 $47,879 $52,856

Reconciliation of period end assets to period end tang ible assets

A ssets $2,254,394 $1,716,875 $2,254,394 $2,321,963 $1,817,943 $1,831,177 $1,716,875G oodwill (86,246) (77,760) (86,246) (86,910) (81,934) (81,756) (77,760) Intangible assets (excluding MSRs) (13,245) (9,603) (13,245) (13,703) (8,535) (9,167) (9,603) Related deferred tax liabilities 3,843 1,679 3,843 3,958 1,854 1,914 1,679

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Tang ible assets $2,158,746 $1,631,191 $2,158,746 $2,225,308 $1,729,328 $1,742,168 $1,631,191

C ertain prior period amounts have been reclassified to conform to current period presentation.

Income Statement

(Dollars in millions, except per share information; shares in thousands)Second First Fourth T hird SecondQ uarter Q uarter Q uarter Q uarter Q uarter

2009 2008 2009 2009 2008 (1) 2008 2008Interest income

Interest and fees on loans and leases $25,678 $27,536 $12,329 $13,349 $14,220 $14,261 $13,121Interest on debt securities 7,113 5,674 3,283 3,830 3,851 3,621 2,900 Federal funds sold and securities borrowed or purchased under agreements to resell 1,845 2,008 690 1,155 393 912 800 T rading account assets 4,380 4,593 1,952 2,428 2,120 2,344 2,229 O ther interest income 2,732 2,075 1,338 1,394 1,018 1,058 977

Six Months EndedJ une 30

O ther interest income , 3 2,075 ,338 1,394 1,018 1,058 977 T otal interest income 41,748 41,886 19,592 22,156 21,602 22,196 20,027

Interest ex pense Deposits 4,625 8,108 2,082 2,543 3,296 3,846 3,520 Short-term borrowings 3,617 7,229 1,396 2,221 1,910 3,223 3,087 T rading account liabilities 1,029 1,589 450 579 524 661 749 Long-term debt 8,350 4,348 4,034 4,316 2,766 2,824 2,050

T otal interest expense 17,621 21,274 7,962 9,659 8,496 10,554 9,406 Net interest income 24,127 20,612 11,630 12,497 13,106 11,642 10,621

Noninterest income

C ard income 5,014 7,090 2,149 2,865 3,102 3,122 3,451 Service charges 5,262 5,035 2,729 2,533 2,559 2,722 2,638 Investment and brokerage services 5,957 2,662 2,994 2,963 1,072 1,238 1,322 Investment banking income 2,701 1,171 1,646 1,055 618 474 695 Equity investment income (loss) 7,145 1,646 5,943 1,202 (791) (316) 592 T rading account profits (losses) 7,365 (1,426) 2,164 5,201 (4,101) (384) 357 Mortgage banking income 5,841 890 2,527 3,314 1,523 1,674 439 Insurance income 1,350 414 662 688 741 678 217 G ains on sales of debt securities 2,130 352 632 1,498 762 10 127 O ther income (loss) 1,640 (965) (302) 1,942 (2,911) (1,239) (49)

T otal noninterest income 44,405 16,869 21,144 23,261 2,574 7,979 9,789 Total revenue, net of interest ex pense 68,532 37,481 32,774 35,758 15,680 19,621 20,410

Provision for credit losses 26,755 11,840 13,375 13,380 8,535 6,450 5,830

Noninterest ex pense

Personnel 16,558 9,146 7,790 8,768 4,027 5,198 4,420 O ccupancy 2,347 1,697 1,219 1,128 1,003 926 848 Equipment 1,238 768 616 622 447 440 372 Marketing 1,020 1,208 499 521 555 605 571 Professional fees 949 647 544 405 521 424 362 A mortization of intangibles 1,036 893 516 520 477 464 447 Data processing 1,269 1,150 621 648 641 755 587 T elecommunications 672 526 345 327 292 288 266 O ther general operating 7 339 2 505 4 041 3 298 2 678 2 313 1 574O ther general operating 7,339 2,505 4,041 3,298 2,678 2,313 1,574 Merger and restructuring charges 1,594 382 829 765 306 247 212

T otal noninterest expense 34,022 18,922 17,020 17,002 10,947 11,660 9,659 Income (loss) before income tax es 7,755 6,719 2,379 5,376 (3,802) 1,511 4,921

Income tax ex pense (benefit) 284 2,099 (845) 1,129 (2,013) 334 1,511 Net income (loss) $7,471 $4,620 $3,224 $4,247 $(1,789) $1,177 $3,410

Preferred stock div idends 2,238 376 805 1,433 603 473 186 Net income (loss) applicable to common shareholders $5,233 $4,244 $2,419 $2,814 $(2,392) $704 $3,224

Per common share information

Earnings (loss) $0.75 $0.95 $0.33 $0.44 $(0.48) $0.15 $0.72Diluted earnings (loss) 0.75 0.95 0.33 0.44 (0.48) 0.15 0.72Dividends paid 0 02 1 28 0 01 0 01 0 32 0 64 0 64Dividends paid 0.02 1.28 0.01 0.01 0.32 0.64 0.64

A verage common shares issued and outstanding 6,808,262 4,431,870 7,241,515 6,370,815 4,957,049 4,543,963 4,435,719 A verage diluted common shares issued and outstanding 6,836,972 4,445,428 7,269,518 6,431,027 4,957,049 4,547,578 4,444,098

(1) Due to a net loss for the three months ended December 31, 2008, the impact of antidilutive equity instruments were excluded from diluted earnings per share and average diluted common shares.

C ertain prior period amounts have been reclassified to conform to current period presentation.

13

Balance Sheet Composition

Assets - 6/30/09

Goodwill & Intangibles$99B

4%

Other$293B

13%

Assets 6/30/09 $2.254 Trillion

Loans$942B

42%

Cash$140B

6%

Debt Securities$267B

12%

Market-Based Assets$512B

23%

12%

Equity$255B

Liabilities & Equity - 6/30/09$2.254 Trillion

Domestic Deposits$899B

40%

Other Liabilities$117B

5%

$11%

Long-Term Debt$447B

20%

14

Foreign Deposits$71B

3%

Short-Term Borrowings$465B

21%

Balance Sheet

(Dollars in millions)J une 30 March 31 June 30

2009 2009 2008A ssetsC ash and cash equivalents $140,366 $173,460 $39,127T ime deposits placed and other short-term investments 25,710 23,947 7,649 Federal funds sold and securities borrowed or purchased under agreements to resell 184,685 153,230 107,070 T rading account assets 199,471 203,131 167,837 Derivative assets 101,707 137,311 42,039 Debt securities:

A vailable-for-sale 257,519 254,194 248,591 Held-to-maturity, at cost 9,719 8,444 1,268

T otal debt securities 267,238 262,638 249,859 Loans and leases, net of allowance:

Loans and leases 942,248 977,008 870,464 A llowance for loan and lease losses (33,785) (29,048) (17,130)

T otal loans and leases, net of allowance 908,463 947,960 853,334 Premises and equipment, net 15,667 15,549 11,627 Mortgage servicing rights (includes $18 535 $14 096 and $4 250 measured at fair value) 18 857 14 425 4 577Mortgage servicing rights (includes $18,535, $14,096 and $4,250 measured at fair value) 18,857 14,425 4,577 G oodwill 86,246 86,910 77,760 Intangible assets 13,245 13,703 9,603 Loans held-for-sale 50,994 40,214 23,630 O ther assets 241,745 249,485 122,763

Total assets $2,254,394 $2,321,963 $1,716,875

L iabilitiesDeposits in domestic offices:

Noninterest-bearing $248,757 $233,902 $199,587Interest-bearing 650,725 639,616 497,631

Deposits in foreign offices: Noninterest-bearing 4,560 4,133 3,432 Interest-bearing 66,700 75,857 84,114

T otal deposits 970,742 953,508 784,764 Federal funds purchased and securities loaned or sold under agreements to repurchase 263,639 246,734 238,123 T rading account liabilities 53,384 52,993 70,806 Derivative liabilities 51,300 76,582 21,095 C ommercial paper and other short-term borrowings 96,236 185,816 177,753 A ccrued expenses and other liabilities (includes $1,992, $2,102 and $507 of reserve for A ccrued expenses and other liabilities (includes $ , , $2,102 and $507 of reserve for unfunded lending commitments) 116,754 126,030 55,038 Long-term debt 447,187 440,751 206,605

Total liabilities 1,999,242 2,082,414 1,554,184 Shareholders' equityPreferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 5,760,731, 9,778,142 and 7,602,067 shares 58,660 73,277 24,151 C ommon stock and additional paid-in capital, $0.01 par value; authorized - 10,000,000,000, 10,000,000,000, and 7,500,000,000 shares; issued and outstanding - 8,651,459,122, 6,400,949,995 and 4,452,947,217 shares 128,717 100,864 61,109 Retained earnings 79,210 76,877 79,920 A l d h h i i (l ) (11 227) (11 164) (1 864)A ccumulated other comprehensive income (loss) (11,227) (11,164) (1,864) O ther (208) (305) (625)

Total shareholders' equity 255,152 239,549 162,691 Total liabilities and shareholders' equity $2,254,394 $2,321,963 $1,716,875

C ertain prior period amounts have been reclassified to conform to current period presentation.

15

Earnings Per Share

Diluted Earnings Per Share Annual

$3.55 $3.64

$4.04

$4.59

$3.30

Diluted Earnings Per Share - Annual

$2.24 $2.26 $2.30

$3.05

$0.55

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

$1.28

Diluted Earnings Per Share - Quarterly

$1.16

$0.82 $0.72

$0.44

$0.05

$0.23 $0.15

$0.44

$0.33

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

16

$(0.48)

Dividend Per Share and Payout Ratio

Dividends Per Share & Payout Ratio Annual (1)

$1.90

$2.12

$2.40 $2.24

407.3%

Dividends Per Share & Payout Ratio - Annual (1)

$0.93 $1.03

$1.14 $1.22

$1.44

$1.70

72.7%

41.5% 45.6% 49.6% 40.0% 40.6% 46.7% 47.0% 46.2%72.7%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Dividends Per Share Dividend Payout Ratio

361.3%

Dividends Per Share & Payout Ratio - Quarterly (1)

$0.56 $0.56

$0.64 $0.64 $0.64 $0.64 $0.64

$0 32140.7%

222.6%

194.0%

222.7%

$0.32

$0.01 $0.01

46.5% 46.9% 52.5%72.5%

104.2%

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

17

(1) Dividend payout ratio is calculated on a trailing twelve-month basis.

Note:On 7/21/2009, the Board of Directors (the Board) declared a regular quarterly cash dividend on common stock of $0.01 per share, payable on 9/25/2009 to common stockholders of record on 9/4/2009.

Q0 Q0 3Q0 Q0 Q08 Q08 3Q08 Q08 Q09 Q09

Dividends Per Share Dividend Payout Ratio

Return on Equity

R t E it A l

16.9%16 0%

20.0%

21.5%

16.5% 16.5% 16.3%

Return on Equity - Annual

16.0% 15.4%

11.1%

1.8%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Return on Equity - Quarterly

16.16%17.55%

11.02%9.25%

0.60%

2.90%1.97%

7.10%5.59%

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

18

-6.68%

Return on Assets

Return on Assets - Annual

1 28%

1.46% 1.44%1.34% 1.30%

1.44%

Return on Assets Annual

1.28%

1.12% 1.16%

0.94%

0.22%

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Return on Assets - Quarterly

1.40%1.48%

0.93%

0 78%

0.06%

0.28%

0.78%

0.25%

0.68%

0.53%

19

-0.37%

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

Noninterest Income – Annual

$ in Millions

$38,182

$32,392

$16,338 $15 504

$18,270

$22,729

$26,438 $27,422

$14,419 $14,607 $15,504

$ in Millions

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Service charges 4,340$ 4,543$ 4,943$ 5,276$ 5,618$ 6,989$ 7,704$ 8,224$ 8,908$ 10,316$ C ard income 2,006 2,229 2,422 2,620 3,052 4,592 5,753 14,290 14,077 13,314 Mortgage banking 648 512 593 761 1,922 414 805 541 902 4,087 Investment & brokerage 1,748 1,929 2,112 2,237 2,371 3,614 4,184 4,456 5,147 4,972 Investment banking 1,411 1,512 1,579 1,545 1,736 1,886 1,856 2,317 2,345 2,263 T rading 1,605 1,923 1,842 778 408 869 1,763 3,358 (4,889) (5,911) G ains (losses) on sales of debt securities 240 25 475 630 941 1,724 1,084 (443) 180 1,124 O ther income 2,421 1,934 2,372 1,657 2,222 2,641 3,289 5,439 5,722 (2,743) T otal noninterest income 14,419$ 14,607$ 16,338$ 15,504$ 18,270$ 22,729$ 26,438$ 38,182$ 32,392$ 27,422$ % f T t l R 44% 44% 45% 44% 47% 45% 46% 52% 48% 38%% of T otal Revenue 44% 44% 45% 44% 47% 45% 46% 52% 48% 38%

20

Noninterest Income – Quarterly

$ in Millions

$23,261

$21,144

$9,887

$11,236

$9,789

$7,480

$3,639

$7,080 $7,979

$2,574

$ in Millions 2007 2008 2009

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2QService charges 2,072$ 2,200$ 2,221$ 2,415$ 2,397$ 2,638$ 2,722$ 2,559$ 2,533$ 2,729$ C ard income 3,333 3,558 3,595 3,591 3,639 3,451 3,122 3,102 2,865 2,149Mortgage banking 213 148 155 386 451 439 1,674 1,523 3,314 2,527Investment & brokerage 1,149 1,193 1,378 1,427 1,340 1,322 1,238 1,072 2,963 2,994Investment banking 638 774 389 544 476 695 474 618 1,055 1,646T rading 872 949 (1,388) (5,380) (1,783) 357 (384) (4,101) 5,201 2,164G ains (losses) on sales of debt securities 62 2 7 109 225 127 10 762 1,498 632O ther income 1,548 2,412 1,123 547 335 760 (877) (2,961) 3,832 6,303 T otal noninterest income 9,887$ 11,236$ 7,480$ 3,639$ 7,080$ 9,789$ 7,979$ 2,574$ 23,261$ 21,144$ % f T t l R 55% 57% 46% 28% 41% 48% 41% 16% 65% 65%% of T otal Revenue 55% 57% 46% 28% 41% 48% 41% 16% 65% 65%

21

Noninterest Expense – Annual

18%$35,000

$40,000

$45,000

$ in Millions

13%

5%

19%

$15,000

$20,000

$25,000

$30,000

45%

$-

$5,000

$10,000

$ ,

1999 2000 2001 2002 2003 2004 2005 2006 2007 20081999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Personnel Occupancy & Equipment Intangibles Amort. Mktg., Prof., D.P., & Tele. Other Expenses

$ in Millions1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Personnel 9,308$ 9,400$ 9,829$ 9,682$ 10,446$ 13,435$ 15,054$ 18,211$ 18,753$ 18,371$ Occupancy 1,627 1,682 1,774 1,780 2,006 2,379 2,588 2,826 3,038 3,626 Equipment 1,346 1,173 1,115 1,124 1,052 1,214 1,199 1,329 1,391 1,655 Total Occup. & Equip. 2,973 2,855 2,889 2,904 3,058 3,593 3,787 4,155 4,429 5,281 Intangibles Amort. 888 864 878 218 217 664 809 1,755 1,676 1,834 Marketing 537 621 682 753 985 1,349 1,255 2,336 2,356 2,368 Professional Fees 630 452 564 525 844 836 930 1,078 1,174 1,592 Data Processing 763 667 776 1,017 1,104 1,330 1,487 1,732 1,962 2,546 Telecommunications 549 527 484 481 571 730 827 945 1,013 1,106 Total Mktg., Prof., D.P., & Tele. 2,479 2,267 2,506 2,776 3,504 4,245 4,499 6,091 6,505 7,612 Other Operating Expense 2,338 2,697 3,302 2,856 2,930 4,457 4,120 5,909 5,751 7,496 Total Operating Expense 17,986$ 18,083$ 19,404$ 18,436$ 20,155$ 26,394$ 28,269$ 36,121$ 37,114$ 40,594$

Merger and restructuring charges 618$ 412$ 805$ 410$ 935$ Efficiency Ratio (1) 56.9% 56.0% 57.4% 51.8% 51.1% 52.6% 49.4% 48.4% 54.7% 56.1%

22

(1) Fully taxable equivalent

Noninterest Expense – Quarterly

25%$14,000

$16,000

$18,000

$ in Millions

11%3%

12%

$6,000

$8,000

$10,000

$12,000

48%

$-

$2,000

$4,000

$ ,

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q091Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

Personnel Occupancy & Equipment Intangibles Amort. Mktg., Prof., D.P., & Tele. Other Expenses

$ in Millions

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2QPersonnel 5,025$ 4,737$ 4,169$ 4,822$ 4,726$ 4,420$ 5,198$ 4,027$ 8,768$ 7,790$ Occupancy 713 744 754 827 849 848 926 1,003 1,128 1,219 Equipment 350 332 336 373 396 372 440 447 622 616 Total Occup. & Equip. 1,063 1,076 1,090 1,200 1,245 1,220 1,366 1,450 1,750 1,835 Intangibles Amort. 389 391 429 467 446 447 464 477 520 516 Marketing 555 537 552 712 637 571 605 555 521 499 Professional Fees 229 283 258 404 285 362 424 521 405 544

2007 2008 2009

Data Processing 437 472 463 590 563 587 755 641 648 621 Telecommunications 251 244 255 263 260 266 288 292 327 345 Total Mktg., Prof. D.P., & Tele. 1,472 1,536 1,528 1,969 1,745 1,786 2,072 2,009 1,901 2,009 Other Operating Expense 1,037 1,340 1,314 1,811 931 1,574 2,313 2,678 3,298 4,041 Total Operating Expense 8,986$ 9,080$ 8,530$ 10,269$ 9,093$ 9,447$ 11,413$ 10,641$ 16,237$ 16,191$

Merger and restructuring charges 111$ 75$ 84$ 140$ 170$ 212$ 247$ 306$ 765$ 829$ Efficiency Ratio (1) 49.2% 45.7% 52.9% 77.4% 53.3% 46.6% 58.6% 68.5% 47.1% 51.4%

23

(1) Fully taxable equivalent

Rate Environment

3 50%

4.00%

4.50%

Yearly Average RatesYield Curves as of 6/30/2009

1.50%

2.00%

2.50%

3.00%

3.50%

0.00%

0.50%

1.00%

1.50%

1ML 3ML 6ML 1Y Libor 2Y Swap 3Y Swap 5Y Swap 10Y Swap

2009 2008

Path of Federal Funds Rate 3M Libor vs. FFMonthly Average Rates

1.50%

2.00%

2.50%

3.00%

3.50%

2 00%

3.00%

4.00%

5.00%

6.00%

0.00%

0.50%

1.00%

Jan-

08

Feb-

08

Mar

-08

Apr-0

8

May

-08

Jun-

08

Jul-0

8

Aug-

08

Sep-

08

Oct-0

8

Nov

-08

Dec

-08

Jan-

09

Feb-

09

Mar

-09

Apr-0

9

May

-09

Jun-

09

0.00%

1.00%

2.00%

Jul-0

7Au

g-07

Sep-

07Oc

t-07

Nov

-07

Dec

-07

Jan-

08Fe

b-08

Mar

-08

Apr-0

8M

ay-0

8Ju

n-08

Jul-0

8Au

g-08

Sep-

08Oc

t-08

Nov

-08

Dec

-08

Jan-

09Fe

b-09

Mar

-09

Apr-0

9M

ay-0

9Ju

n-09

F d F d 3M Lib S d

24

Fed Funds 3M Libor Spread

Net Interest Income and Net Interest Yields – Annual

$ in Millions

3.45%3.68% 3.75%

3 26%

3.96% 3.96%3.75% 3.80%

3.42% 3.40%

$31 569$35,815 $36,190

$46,554

3.20% 3.26% 3.17%

2.84% 2.82%2.60%

2.98%

$18,342 $18,671 $20,633 $21,511 $21,149

$28,677 $31,569

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Balance Sheet Ratios

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Net interest income (FTE) Net interest yield Net interest yield (excl. trading)

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Liquidity RatiosLoans & Leases/Domestic deposits 106% 111% 117% 101% 96% 95% 100% 111% 126% 125%Loans & Leases/Earning assets 68% 67% 65% 59% 55% 52% 48% 51% 56% 58%Total securities/Earning assets 15% 14% 11% 13% 11% 17% 20% 20% 13% 16%Market based assets/Earning assets 27% 27% 29% 29% 30% 24%

Interest Rates and YieldsLoan & Lease yield 7.63% 8.15% 7.50% 6.58% 6.04% 5.95% 6.50% 7.43% 7.25% 6.18%Securities yield 6.00% 6.07% 6.23% 5.44% 4.44% 4.88% 5.03% 5.26% 5.37% 5.34%Earning assets yield 7.04% 7.45% 6.90% 5.71% 4.90% 4.82% 5.35% 6.29% 6.41% 5.56%Interest-bearing deposit rate 3.56% 4.20% 3.35% 2.07% 1.59% 1.48% 2.08% 2.92% 3.33% 2.39%Interest-bearing liabilities rate 4.32% 5.09% 3.94% 2.42% 2.01% 1.98% 2.97% 3.99% 4.33% 2.88%

Net interest yield 3.45% 3.20% 3.68% 3.75% 3.26% 3.17% 2.84% 2.82% 2.60% 2.98%Net interest yield (excl. trading) (1) 3.96% 3.93% 3.71% 3.80% 3.42% 3.40%Managed net interest yield (excl. trading) (1, 2) 3.99% 3.99% 3.75% 4.13% 3.82% 3.82%

25

(1) Excludes the impact of market-based amounts included in Global Markets(2) Includes the impact of securitizations utilizing actual bond costs

Net Interest Income and Net Interest Yields – Quarterly

$ in Millions

2.61% 2.59% 2.61% 2.61%2.73%

2.92% 2.93%

3.31%

2.70%2.64%

3.57% 3.50%3.38% 3.28% 3.28%

3.46% 3.40%3.65%

3.11% 3.14%

$8,597 $8,784 $8,992 $9,815 $10,291 $10,937 $11,920

$13,406 $12,819 $11,942

Balance Sheet Ratios Based on Quarterly Average Balances

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

Net interest income (FTE) Net interest yield Net interest yield (excl. trading)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2QLiquidity RatiosLoans & Leases/Domestic deposits 121% 128% 130% 130% 129% 128% 124% 119% 114% 108%Loans & Leases/Earning assets 56% 57% 57% 58% 58% 59% 58% 58% 52% 53%Total securities/Earning assets 14% 13% 13% 14% 15% 16% 16% 17% 15% 14%Market based assets/Earning assets 31% 31% 30% 27% 26% 24% 23% 19% 26% 26%

2007 2008 2009

Interest Rates and YieldsLoan & Lease yield 7.31% 7.26% 7.25% 7.21% 6.64% 6.04% 6.03% 6.06% 5.46% 5.15%Securities yield 5.27% 5.39% 5.45% 5.40% 5.17% 5.04% 5.52% 5.57% 5.47% 5.26%Market-based assets yield 0.48% 0.60% 0.77% 0.79% 1.19% 1.27% 1.33% 1.86% 1.51% 1.23%Earning assets yield 6.37% 6.38% 6.48% 6.39% 5.89% 5.44% 5.52% 5.40% 4.74% 4.40%Interest-bearing deposit rate 3.19% 3.27% 3.39% 3.44% 3.04% 2.38% 2.31% 1.91% 1.40% 1.15%Interest-bearing liabilities rate 4.31% 4.34% 4.43% 4.25% 3.55% 2.87% 2.86% 2.30% 2.11% 1.84%

Net Interest Yield 2.61% 2.59% 2.61% 2.61% 2.73% 2.92% 2.93% 3.31% 2.70% 2.64%Net interest yield (excl. trading) (1) 3.57% 3.50% 3.38% 3.28% 3.28% 3.46% 3.40% 3.65% 3.11% 3.14%Managed net interest yield (excl. trading) (1, 2) 3.95% 3.91% 3.80% 3.66% 3.69% 3.90% 3.83% 4.05% 3.65% 3.72%

26

(1) Excludes the impact of market-based amounts included in Global Markets(2) Includes the impact of securitizations utilizing actual bond costs

g y ( g) 3 95% 3 9 % 3 80% 3 66% 3 69% 3 90% 3 83% 05% 3 65% 3 %

Quarterly Average Balance Sheet and Yields Table*

(Dollars in millions)Second Q uarter 2009 First Q uarter 2009 Second Q uarter 2008

Interest Interest InterestA verage Income/ Y ield/ A verage Income/ Y ield/ A verage Income/ Y ield/Balance Ex pense Rate Balance Expense Rate Balance Expense Rate

Earning assetsT ime deposits placed and other short-term investments $25,604 $169 2.64 % $26,158 $191 2.96 % $10,310 $87 3.40 %Federal funds sold and securities borrowed or purchased under agreements to resell 230,955 690 1.20 244,280 1,155 1.90 126,169 800 2.54T rading account assets 223,102 2,028 3.64 259,322 2,499 3.89 184,547 2,282 4.95Debt securities (1) 255,159 3,353 5.26 286,249 3,902 5.47 235,369 2,963 5.04Loans and leases (2):

Residential mortgage (3) 253,803 3,489 5.50 265,121 3,680 5.57 256,164 3,541 5.54

Second Q uarter 2009 First Q uarter 2009 Second Q uarter 2008

Home equity 156,599 1,722 4.41 158,575 1,787 4.55 120,265 1,627 5.44Discontinued real estate 18,309 303 6.61 19,386 386 7.97 n/a n/a n/aC redit card - domestic 51,721 1,375 10.66 58,960 1,606 11.05 61,655 1,603 10.45C redit card - foreign 18,825 506 10.77 16,858 449 10.81 16,566 512 12.43Direct/Indirect consumer (4) 100,302 1,532 6.12 100,741 1,684 6.78 82,593 1,731 8.43O ther consumer (5) 3,298 63 7.77 3,408 64 7.50 3,953 84 8.36

T otal consumer 602,857 8,990 5.97 623,049 9,656 6.25 541,196 9,098 6.75C ommercial - domestic 231,639 2,176 3.77 240,683 2,485 4.18 219,537 2,762 5.06C ommercial real estate (6) 75,559 627 3.33 72,206 550 3.09 62,810 737 4.72C ommercial lease financing 22,026 260 4.72 22,056 279 5.05 22,276 243 4.37C ommercial - foreign 34,024 360 4.24 36,127 462 5.18 32,820 366 4.48

T otal commercial 363,248 3,423 3.78 371,072 3,776 4.12 337,443 4,108 4.89T otal loans and leases 966,105 12,413 5.15 994,121 13,432 5.46 878,639 13,206 6.04

O ther earning assets 111,056 1,251 4.52 102,353 1,299 5.12 65,200 1,005 6.19Total earning assets (7) 1,811,981 19,904 4.40 1,912,483 22,478 4.74 1,500,234 20,343 5.44

C ash and cash equivalents 204,354 153,007 33,799O ther assets, less allowance for loan and lease losses 403,982 453,644 220,580

Total assets $2,420,317 $2,519,134 $1,754,613

Interest-bearing liabilities Domestic interest-bearing deposits:

Savings $34,367 $54 0.63 % $32,378 $58 0.72 % $33,164 $64 0.77 %NO W and money market deposit accounts 342 570 376 0 44 343 215 435 0 51 258 104 856 1 33NO W and money market deposit accounts 342,570 376 0.44 343,215 435 0.51 258,104 856 1.33C onsumer C Ds and IRAs 229,392 1,409 2.46 235,787 1,715 2.95 178,828 1,646 3.70Negotiable C Ds, public funds and other time deposits 39,100 124 1.28 31,188 149 1.94 24,216 195 3.25

T otal domestic interest-bearing deposits 645,429 1,963 1.22 642,568 2,357 1.49 494,312 2,761 2.25Foreign interest-bearing deposits:

Banks located in foreign countries 19,261 37 0.76 26,052 48 0.75 33,777 272 3.25G overnments and official institutions 7,379 4 0.22 9,849 6 0.25 11,789 77 2.62T ime, savings and other 54,307 78 0.58 58,380 132 0.92 55,403 410 2.97

T otal foreign interest-bearing deposits 80,947 119 0.59 94,281 186 0.80 100,969 759 3.02T otal interest-bearing deposits 726,376 2,082 1.15 736,849 2,543 1.40 595,281 3,520 2.38

Federal funds purchased and securities loaned or sold under agreements to repurchase and other short-term borrowings 503,451 1,396 1.11 591,928 2,221 1.52 444,578 3,087 2.79T rading account liabilities 63,551 450 2.84 70,799 579 3.32 70,546 749 4.27Long-term debt 444,131 4,034 3.64 446,975 4,316 3.89 205,194 2,050 4.00

Total interest-bearing liabilities (7) 1,737,509 7,962 1.84 1,846,551 9,659 2.11 1,315,599 9,406 2.87Noninterest-bearing sources:

Noninterest-bearing deposits 248,516 227,232 190,721O ther liabilities 191,425 216,585 86,865Shareholders' equity 242,867 228,766 161,428

Total liabilities and shareholders' equity $2,420,317 $2,519,134 $1,754,613Net interest spread 2.56 % 2.63 % 2.57 %Impact of noninterest-bearing sources 0.08 0.07 0.35

Net interest income/y ield on earning assets $11,942 2.64 % $12,819 2.70 % $10,937 2.92 %

(1) Y ields on AFS debt securities are calculated based on fair value rather than historical cost balances. The use of fair value does not have a material impact on net interest yield.(2) Nonperforming loans are included in the respective average loan balances. Income on these nonperforming loans is recognized on a cash basis. W e account for acquired impaired loans in accordance with SO P 03-3. Loans accounted for in accordance with SO P 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.(3) Includes foreign residential mortgages of $675 million and $627 million for the second and first quarters of 2009.(4) Includes foreign consumer loans of $8.0 billion and $7.1 billion in the second and first quarters of 2009, and $3.0 billion in the second quarter of 2008.(5) Includes consumer finance loans of $2.5 and $2.6 billion in the second and first quarters of 2009, and $2.8 billion in the second quarter of 2008; and other foreign consumer loans of $640 million and $596 million in the second and first quarters of 2009, and $862 million in the second quarter of 2008.(6) Includes domestic commercial real estate loans of $72.8 billion and $70.9 billion in the second and first quarters of 2009, and $61.6 billion in the second quarter of 2008, and foreign commercial real estate loans of $2.8 billion and $1.3 billion in the second and first quarters of 2009, and $1.3 billion in the second quarter of 2008.

27*Fully taxable-equivalent basis

(7) Interest income includes the impact of interest rate risk management contracts, which decreased interest income on the underlying assets $11 million and $61 million in the second and first quarters of 2009, and $104 million in the second quarter of 2008. Interest expense includes the impact of interest rate risk management contracts, which increased (decreased) interest expense on the underlying liabilities $(550) million and $(512) million in the second and first quarters of 2009, and $37 million in the second quarter of 2008.n/a = not applicable

C ertain prior period amounts have been reclassified to conform to current period presentation.

Loan Portfolio

Bank of A merica C orporation and Subsidiaries

O utstanding Loans and Leases(Dollars in millions)

J une 30 March 31 Increase2009 2009 (Decrease)

C onsumerResidential mortgage (1) $245,967 $261 583 $(15 616)Residential mortgage $245,967 $261,583 $(15,616)Home equity 155,058 157,645 (2,587) Discontinued real estate (2) 17,490 19,000 (1,510) C redit card - domestic 48,948 51,309 (2,361) C redit card - foreign 20,429 16,651 3,778 Direct/Indirect consumer (3) 99,154 99,696 (542) O ther consumer (4) 3,390 3,297 93

Total consumer 590,436 609,181 (18,745)

C ommercialC ommercial - domestic (5) 217,571 229,779 (12,208) C ommercial real estate (6) 75,081 75,269 (188) C ommercial lease financing 22,387 22,017 370 C ommercial - foreign 29,811 33,407 (3,596)

T otal commercial loans 344,850 360,472 (15,622) C ommercial loans measured at fair value (7) 6,962 7,355 (393)C ommercial loans measured at fair value 6,962 7,355 (393)

Total commercial 351,812 367,827 (16,015) Total loans and leases $942,248 $977,008 $(34,760)

(1) Includes foreign residential mortgages of $710 million and $651 million at J une 30, 2009 and March 31, 2009.

(2) At J une 30, 2009 and March 31, 2009, includes $15.9 billion and $17.3 billion of pay option loans, and $1.6 billion and $1.7 billion of subprime loans obtained as part of the acquisition of C ountrywide. T he C orporation no longer originates these products.

(3) Includes dealer financial services of $40.9 billion and $40.1 billion, consumer lending of $24.2 billion and $26.6 billion, and securities based lending

margin loans of $11.0 billion and $10.4 billion at J une 30, 2009 and March 31, 2009. In addition, includes foreign consumer loans of $7.7 billion and

$7.5 billion at J une 30, 2009 and March 31, 2009.(4) Includes consumer finance loans of $2.4 billion and $2.5 billion, and other foreign consumer loans of $721 million and $618 million at J une 30, 2009 and March 31, 2009.(5) Includes small business commercial - domestic loans, primarily card related, of $18.1 billion and $18.8 billion at J une 30, 2009 and March 31, 2009. (6) Includes domestic commercial real estate loans of $71.6 billion and $73.0 billion, and foreign commercial real estate loans of $3.5 billion and $2.2 billion at J une 30, 2009 and March 31, 2009.(7) C ertain commercial loans are measured at fair value in accordance with SFAS 159 and include commercial - domestic loans of $4.4 billion and $4.8 billion, commercial - foreign loans of $2.5 billion and $2.5 billion, and commercial real estate loans of $123 million and $89 million at J une 30, 2009 and March 31, 2009.

C ertain prior period amounts have been reclassified to conform to current period presentation.

28

Nonperforming Assets

$ in Millions

36%

10%

1.39%1.49% 1.53%

1.96%

1.50%

2.00%

$15,000

$20,000

54%

64%78% 82%

36%5%

5%8%

4%

5%10%

6%

0.86%0.81%

0.47%

0.28% 0.26%

0.68%

0.50%

1.00%

$5,000

$10,000

37% 31%14% 14% 21% 30% 49% 55%

58%58% 78% 82%74% 60% 45% 41%

6% 4%

0.00%$-1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Total consumer Total commercialForeclosed properties & Nonperforming securities Nonperforming assets/Total loans, leases, & foreclosed properties

$ in Millions 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Residential mortgage 529$ 551$ 556$ 612$ 531$ 554$ 570$ 660$ 1,999$ 7,057$ Home equity 46 32 80 66 43 66 117 291 1,340 2,637Discontinued real estate 77Direct/Indirect consumer 19 19 27 30 28 33 37 2 8 26O ther consumer 605 1,104 16 25 36 85 61 77 95 91 T otal consumer 1,199 1,706 679 733 638 738 785 1,030 3,442 9,888C ommercial - domestic (1) 1,163 2,777 3,123 2,781 1,388 855 581 584 852 2,040C ommercial - foreign 486 486 461 1,359 578 267 34 13 19 290C ommercial real estate 194 239 243 164 142 87 49 118 1,099 3,906, ,C ommercial lease financing 127 266 62 42 33 56Small business commercial - domestic 152 205 T otal commercial 1,846 3,505 3,830 4,307 2,235 1,475 726 757 2,155 6,497 T otal nonperforming loans and leases 3,045 5,211 4,509 5,040 2,873 2,213 1,511 1,787 5,597 16,385Foreclosed properties 163 249 402 225 148 102 92 69 351 1,827Nonperforming securities 140 T otal nonperforming assets (2, 3, 4)

3,208$ 5,460$ 4,911$ 5,265$ 3,021$ 2,455$ 1,603$ 1,856$ 5,948$ 18,212$ Nonperforming assets/T otal assets (5) 0.51% 0.85% 0.79% 0.80% 0.42% 0.22% 0.12% 0.13% 0.35% 1.00%Nonperforming assets/T otal loans, leases, & foreclosed properties (5) 0.86% 1.39% 1.49% 1.53% 0.81% 0.47% 0.28% 0.26% 0.68% 1.96%

A llowance for loan and lease losses 6,828$ 6,838$ 6,875$ 6,358$ 6,163$ 8,626$ 8,045$ 9,016$ 11,588$ 23,071$ A llowance for loan and lease losses/T otal loans and leases outstanding (5) 1.84% 1.74% 2.09% 1.85% 1.66% 1.65% 1.40% 1.28% 1.33% 2.49%A llowance for loan and lease losses/T otal nonperforming loans and leases (5) 224% 131% 153% 126% 215% 390% 532% 505% 207% 141%

(5) Ratios do not include loans measured at fair value in accordance with SFAS 159 of $5.4 billion, $5.4 billion, $5.0 billion, $5.1 billion and $4.6 billion at

(1) Excludes small business commercial - domestic loans.(2) Balances do not include loans accounted for in accordance with SOP 03-3 even though the customer may be contractually past due. Loans accounted for in accordance with SO P 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.(3) Balances do not include nonperforming loans held-for-sale included in other assets of $1.3 billion, $848 million, $388 million, $327 million and $188 million at December 31, 2008, September 30, 2008, J une 30, 2008, March 31, 2008 and December 31, 2007, respectively.(4) Balances do not include loans measured at fair value in accordance with SFAS 159. At December 31, 2008, September 30, 2008, J une 30, 2008, March 31, 2008 and December 31, 2007, there were no nonperforming loans measured at fair value in accordance with SFAS 159. At J une 30, 2008, there were $81 million of loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159. At December 31, 2008, September 30, 2008, March 31, 2008 and December 31, 2007, there were no loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159.

December 31 2008 September 30 2008 J une 30 2008 March 31 2008 and December 31 2007 respectively

29

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

C ertain prior period amounts have been reclassified to conform to current period presentation.

December 31, 2008, September 30, 2008, J une 30, 2008, March 31, 2008 and December 31, 2007, respectively.

Nonperforming Assets

$ in Millions1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2Q

Residential mortgage 732$ 867$ 1,176$ 1,999$ 2,576$ 3,269$ 4,638$ 7,057$ 10,846$ 13,615$ Home equity 363 496 764 1,340 1,786 1,851 2,049 2,637 3,497 3,826Discontinued real estate 33 77 129 181Direct/Indirect consumer 2 3 6 8 6 11 13 26 29 57Other consumer 133 94 94 95 91 89 89 91 91 93 Total Consumer 1,230 1,460 2,040 3,442 4,459 5,220 6,822 9,888 14,592 17,772Commercial - domestic (1) 404 392 638 852 980 1,079 1,566 2,040 3,022 4,204Commercial - foreign 29 17 16 19 54 48 48 290 300 250Commercial real estate 189 280 352 1,099 1,627 2,616 3,090 3,906 5,662 6,651

2007 2008 2009

Commercial lease financing 21 27 29 33 44 40 35 56 104 104Small business commercial - domestic 97 108 105 152 169 153 183 205 224 200 Total commercial 740 824 1,140 2,155 2,874 3,936 4,922 6,497 9,312 11,409 Total nonperforming loans and leases 1,970 2,284 3,180 5,597 7,333 9,156 11,744 16,385 23,904 29,181Foreclosed properties 89 108 192 351 494 593 1,832 1,827 1,728 1,801 Total nonperforming assets (2, 3, 4) 2,059$ 2,392$ 3,372$ 5,948$ 7,827$ 9,749$ 13,576$ 18,212$ 25,632$ 30,982$ Loans past due 90 days or more and still accruing (2, 4, 5) 2,870$ 2,798$ 2,995$ 3,736$ 4,160$ 4,548$ 4,819$ 5,414$ 6,344$ 6,403$ Nonperforming assets/Total assets (6) 0.14% 0.16% 0.21% 0.35% 0.45% 0.57% 0.74% 1.00% 1.11% 1.38%Nonperforming assets/Total loans, leases, & foreclosed properties (6) 0.29% 0.32% 0.43% 0.68% 0.90% 1.13% 1.45% 1.96% 2.64% 3.31%

Allowance for loan and lease losses 8 732$ 9 060$ 9 535$ 11 588$ 14 891$ 17 130$ 20 346$ 23 071$ 29 048$ 33 785$Allowance for loan and lease losses 8,732$ 9,060$ 9,535$ 11,588$ 14,891$ 17,130$ 20,346$ 23,071$ 29,048$ 33,785$ Reserve for unfunded lending commitments 374 376 392 518 507 507 427 421 2,102 1,992 Total allowance for credit losses 9,106$ 9,436$ 9,927$ 12,106$ 15,398$ 17,637$ 20,773$ 23,492$ 31,150$ 35,777$ Allowance for loan and lease losses/Total loans and leases outstanding (6, 8) 1.21% 1.20% 1.21% 1.33% 1.71% 1.98% 2.17% 2.49% 3.00% 3.61%Allowance for loan and lease losses/Total nonperforming loans and leases (6, 8) 443% 397% 300% 207% 203% 187% 173% 141% 122% 116% Reservable commercial utilized criticized exposure (7) 7,119$ 7,187$ 10,820$ 17,176$ 21,157$ 25,998$ 31,009$ 36,937$ 48,660$ 57,180$ Reservable commercial utilized criticized exposure/Commercial utilized exposure (7) 2.24% 2.17% 3.05% 4.46% 5.43% 6.23% 7.45% 8.90% 11.13% 13.53%

(1) Excludes small business commercial - domestic loans.(2) Balances do not include loans accounted for in accordance with SOP 03-3 even though the customer may be contractually past due. Loans accounted for in accordance with SOP 03-3 were written down to fair value upon acquisition and accrete interest income over the remaining life of the loan.(3) Balances do not include nonperforming loans held-for-sale of $2 6 billion $2 5 billion $1 3 billion $848 million and $388 million at June 30 2009 March 31 2009 December 31(3) Balances do not include nonperforming loans held-for-sale of $2.6 billion, $2.5 billion, $1.3 billion, $848 million and $388 million at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively. (4) Balances do not include loans measured at fair value in accordance with SFAS 159. At June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, there were no nonperforming loans measured at fair value in accordance with SFAS 159. At June 30, 2008, there were $81 million of loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159. At June 30, 2009, March 31, 2009, December 31, 2008 and September 30, 2008, there were no loans past due 90 days or more and still accruing interest measured at fair value in accordance with SFAS 159. (5) Balances do not include loans held-for-sale past due 90 days or more and still accruing interest included in other assets of $0, $18 million, $31 million, $138 million and $32 million at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.(6) Ratios do not include loans measured at fair value in accordance with SFAS 159 of $7.0 billion, $7.4 billion, $5.4 billion, $5.4 billion and $5.0 billion at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.(7) Criticized exposure and ratios exclude assets held-for-sale, exposure measured at fair value in accordance with SFAS 159 and other nonreservable exposure. Including assets held-for-sale, other nonreservable exposure and commercial loans measured at fair value, the ratios would have been 14.93 percent, 12.63 percent, 9.45 percent, 7.94 percent and 6.62 percent at June 30, 2009, March 31, 2009, December 31, 2008, September 30, 2008 and June 30, 2008, respectively.(8) The Corporation accounts for acquired impaired loans in accordance with SOP 03-3.

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

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

30

Net Charge-offs and Provision Expense

$ in Billions

$26.8

1.79%

$16.2

0.55%0.61%

1.16%1.10%

0.87%

0.66%

0.85%

0.70%

0.84%

$2.0 $2.4

$4.2 $3.7 $3.1 $3.1 $4.6 $4.5

$6.5

$1.8 $2.5

$4.3 $3.7 $2.8 $2.8

$4.0 $5.0

$8.4

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008

Net charge-offs Provision expense Net charge-off ratio

$ in Millions

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

1999 2000 2001 2002 2003 2004 2005 2006 2007 2008Residential mortgage 0.04% 0.03% 0.03% 0.04% 0.03% 0.02% 0.02% 0.02% 0.02% 0.36%Home equity 0.07% 0.10% 0.09% 0.11% 0.05% 0.04% 0.05% 0.07% 0.28% 2.59%Discontinued real estate 0.15%Credit card domestic 5.08% 3.29% 4.04% 5.11% 5.37% 5.31% 6.76% 4.85% 5.29% 6.57%Credit card foreign 2.46% 3.06% 3.34%Consumer direct/indirect 0.88% 0.78% 0.82% 0.69% 0.55% 0.55% 0.55% 1.14% 1.96% 3.77%Other consumer 1.22% 1.09% 3.70% 2.42% 2.89% 2.51% 3.99% 2.97% 6.18% 10.46% Total consumer 0.68% 0.54% 1.14% 0.91% 0.91% 0.93% 1.26% 1.01% 1.07% 2.21%C i l d i (2) 0 51% 0 87% 1 46% 1 34% 0 68% 0 15% 0 13% 0 22% 0 08% 0 26%Commercial - domestic (2) 0.51% 0.87% 1.46% 1.34% 0.68% 0.15% 0.13% 0.22% 0.08% 0.26%Commercial - foreign 0.49% 0.29% 0.78% 2.45% 2.36% 1.05% -0.39% -0.04% 0.00% 0.55%Commercial real estate 0.00% 0.05% 0.16% 0.18% 0.20% -0.01% 0.00% 0.01% 0.11% 1.41%Commercial lease financing 1.23% 0.05% 1.13% -0.14% 0.01% 0.27%Small business commercial domestic 5.13% 9.80% Total commercial 0.44% 0.68% 1.19% 1.33% 0.81% 0.20% 0.16% 0.13% 0.40% 1.07% Total net charge-offs 0.55% 0.61% 1.16% 1.10% 0.87% 0.66% 0.85% 0.70% 0.84% 1.79%

Managed credit card loss ratio 5.57% 4.66% 4.76% 5.28% 5.36% 5.63% 6.92% 3.90% 4.79% 6.18%

31

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

(1) Net charge-off/loss ratios are calculated as held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases excluding loans measured at fair value in accordance with SFAS 159 during the period for each loan and lease category.(2) Excludes small business commercial - domestic loans.

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

Net Charge-offs and Provision Expense

Q uarterly Net C harge-offs/Losses and Net C harge-off/Loss Ratios (1)

(Dollars in millions)

Held Basis A mount Percent A mount Percent A mount Percent Amount Percent A mount Percent

Residential mortgage $1,085 1.72 % $785 1.20 % $466 0.73 % $242 0.37 % $151 0.24 %

Home equity 1,839 4.71 1,681 4.30 1,113 2.92 964 2.53 923 3.09

Discontinued real estate 35 0.76 15 0.31 19 0.36 (3) (0.05) n/a n/a

Second First Fourth T hird SecondQ uarter

2009Q uarter

2008Q uarter

2008Q uarter

2009Q uarter

2008

C redit card - domestic 1,788 13.87 1,426 9.81 1,244 7.63 1,094 6.86 976 6.36

C redit card - foreign 276 5.88 186 4.48 162 3.75 148 3.46 132 3.21

Direct/Indirect consumer 1,475 5.90 1,249 5.03 1,054 5.03 845 3.94 660 3.22

O ther consumer 99 11.93 97 11.67 124 13.79 106 11.36 83 8.47

Total consumer 6,597 4.39 5,439 3.54 4,182 2.79 3,396 2.24 2,925 2.17

C ommercial - domestic (2) 536 1.03 244 0.46 255 0.50 117 0.23 70 0.14

C ommercial real estate 629 3.34 455 2.56 382 2.36 262 1.65 136 0.88

C ommercial lease financing 44 0.81 67 1.22 31 0.57 8 0.13 6 0.11

C ommercial - foreign 122 1.54 104 1.25 129 1.63 46 0.56 5 0.06C ommercial foreign 122 1.54 104 1.25 129 1.63 46 0.56 5 0.06

1,331 1.58 870 1.02 797 0.99 433 0.54 217 0.28

Small business commercial - domestic 773 16.69 633 13.47 562 11.55 527 10.64 477 9.59

Total commercial 2,104 2.37 1,503 1.68 1,359 1.59 960 1.13 694 0.84

Total net charge-offs $8,701 3.64 $6,942 2.85 $5,541 2.36 $4,356 1.84 $3,619 1.67

Provision expense $13,375 $13,380 $8,535 $6,450 $5,830

By Business Segment

D it $88 3 26 % $88 3 42 % $106 4 89 % $96 4 85 % $78 4 33 %Deposits $88 3.26 % $88 3.42 % $106 4.89 % $96 4.85 % $78 4.33 %

G lobal C ard Services (3) 7,096 12.91 5,406 9.60 4,623 7.88 4,185 6.94 3,768 6.34

Home Loans & Insurance 1,598 4.88 1,492 4.77 976 3.18 844 2.75 841 3.71

G lobal Markets 29 1.00 5 0.17 15 0.87 16 0.36 - -

G lobal Banking 1,477 1.83 1,122 1.37 992 1.19 588 0.73 318 0.41

G lobal W ealth & Investment Management 172 0.68 162 0.60 145 0.65 108 0.49 92 0.42

A ll O ther (3) (1,759) (4.43) (1,333) (3.21) (1,316) (3.60) (1,481) (4.03) (1,478) (5.06)

Total net charge-offs $8,701 3.64 $6,942 2.85 $5,541 2.36 $4,356 1.84 $3,619 1.67

Supplemental managed basis data

C redit card - domestic $4,530 12.69 % $3,421 9.20 % $2,929 7.66 % $2,643 6.87 % $2,414 6.36 %

C redit card - foreign 517 7.06 373 5.47 334 4.57 353 4.21 337 4.11

Total credit card managed net losses $5,047 11.73 $3,794 8.62 $3,263 7.16 $2,996 6.40 $2,751 5.96

(1) Net charge-off/loss ratios are calculated as annualized held net charge-offs or managed net losses divided by average outstanding held or managed loans and leases excluding loans measured at fair value in accordance with SFAS 159 during the period for each loan and lease category.

(2) Excludes small business commercial - domestic loans.

(3) G lobal C ard Services is presented on a managed basis. T he securitization offset is included within All O ther.

n/a = not applicable

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

C ertain prior period amounts have been reclassified to conform to current period presentation.1.84%

2.85%

2.3%

32

Pre-provision, Pre-tax Income vs. Provision Expense

$ in Billions

$10 9 $11.1

$19.1

$16.1

$13.4 $13.4

$9.4

$10.9

$7.8

$3.0

$8.1

$

$8.2

$5.0

$1.2 $1.8 $2.0

$3.3

$6.0 $5.8 $6.5

$8.5

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

Pre-provision, pre-tax income, FTE basis Provision expense

33

Allowance Allocation

A llocation of the A llow ance for C redit Losses by Product T ype (1)

(Dollars in millions)

A llow ance for loan and lease losses A mountPercent of Total

Percent of Loans and

Leases O utstanding (2) A mount

Percent of T otal

Percent of Loans and

Leases O utstanding (2)

Residential mortgage $4,119 12.19 % 1.67 % $792 4.62 % 0.34 %

June 30, 2008J une 30, 2009

Home equity 8,664 25.64 5.59 3,812 22.25 3.14

Discontinued real estate 398 1.18 2.28 n/a n/a n/a

C redit card - domestic 5,153 15.25 10.53 3,210 18.74 5.17

C redit card - foreign 1,320 3.91 6.46 474 2.77 2.86

Direct/Indirect consumer 5,369 15.89 5.41 2,964 17.30 3.49

O ther consumer 210 0.63 6.22 185 1.09 4.81

Total consumer 25,233 74.69 4.27 11,437 66.77 2.18

C ommercial - domestic (3) 5,486 16.24 2.52 3,844 22.44 1.74

C ommercial real estate 2 396 7 09 3 19 1 333 7 78 2 12C ommercial real estate 2,396 7.09 3.19 1,333 7.78 2.12

C ommercial lease financing 255 0.75 1.14 199 1.16 0.87

C ommercial - foreign 415 1.23 1.39 317 1.85 0.91

Total commercial (4) 8,552 25.31 2.48 5,693 33.23 1.67

A llow ance for loan and lease losses 33,785 100.00 % 3.61 17,130 100.00 % 1.98

Reserve for unfunded lending commitments (5) 1,992 507

A llow ance for credit losses $35,777 $17,637

(1) The C orporation accounts for acquired impaired loans in accordance with SO P 03-3.

(2) Ratios are calculated as allowance for loan and lease losses as a percentage of loans and leases outstanding excluding loans measured in accordance with SFAS 159 for each loan and lease category.

Loans measured at fair value include commercial - domestic loans of $4.4 billion, $4.8 billion and $3.5 billion, commercial - foreign loans of $2.5 billion, $2.5 billion and $1.3 billion, and commercial real

estate loans of $123 million, $89 million and $176 million at J une 30, 2009, March 31, 2009 and J une 30, 2008.

(3) Includes allowance for small business commercial - domestic loans of $2.8 billion, $3.1 billion and $2.1 billion at J une 30, 2009, March 31, 2009 and J une 30, 2008.(4) Includes allowance for loan and lease losses for impaired commercial loans of $1.6 billion, $1.1 billion and $417 million at J une 30, 2009, March 31, 2009 and J une 30, 2008.(5) Amounts for the periods beginning J anuary 1, 2009 include the Merrill Lynch acquisition. T he majority of the increase from J une 30, 2008 relates to the fair value of the acquired Merrill Lynch unfunded lending commitments, excluding commitments accounted for under SFAS 159. n/a = not applicable

C ertain prior period amounts have been reclassified to conform to current period presentation.

34

Performance by Geographical Area

Since the C orporation’s operations are highly integrated, certain income, expense, asset and liability amounts must be allocated to arrive at total revenue,net of interest expense, income before income taxes, net income and total assets by geographic area. T he C orporation identifies its geographic performancep , , y g g p p g g p pbased upon the business unit structure used to manage the capital or expense deployed in the region as applicable. T his requires certain judgments relatedto the allocation of revenue so that revenue can be appropriately matched with the related expense or capital deployed in the region.

       

Total Revenue, Income (Loss)Net of Interest Before Income Net Income

(Dollars in millions) Y ear Ex pense (1) Tax es (Loss)Domestic (2) 2009     $54,050 $(1,372) $1,663 

2008 34 726 5 954 4 135

Six Months Ended J une 30

2008     34,726 5,954 4,135 

Asia (3) 2009     9,476 8,155 5,138 2008      748 430 272 

Europe, Middle East and A frica 2009      4,281 625 450 2008      1,622 18 15

Latin America and the C aribbean 2009      725 347 220 2008 385 317 1982008     385 317 198 

T otal Foreign 2009      14,482 9,127 5,808 2008      2,755 765 485 

Total C onsolidated 2009      $68,532 $7,755 $7,471 2008      37,481 6,719 4,620 

(1) There were no material intercompany revenues between geographic regions for any of the periods presented( ) There were no material intercompany revenues between geographic regions for any of the periods presented. (2) Includes the C orporation’s C anadian operations which had total revenue, net of interest expense of $682 million; income before income taxes of $195 million; and net income of $$156 million for six months ended J une 30, 2009. Includes the C orporation’s C anadian operations which had total revenue, net of interest expense of $567 million; income before income taxes of $254 million; and net income of $189 million for six months ended J une 30, 2008. (3) Six months ended J une 30, 2009, includes pre-tax gains $7.3 billion ($4.7 billion net-of-tax) on the sale of common shares of the C orporation’s initial investment in C C B.

    

(Dollars in millions) J une 30, 2009 December 31, 2009Domestic (2)     $1,990,853 $1,678,853

Total A ssets (1)

Asia      79,220 50,567

Europe, Middle East and A frica      167,236 78,790

Latin America and the C aribbean      17,085 9,733

T otal Foreign      263,541 139,090

T otal C onsolidated      $2,254,394 $1,817,943

(1) Total assets include long-lived assets, which are primarily located in the U.S. (2) Includes the C orporation’s C anadian operations which had total assets of $22.0 billion and $13.5 billion at J une 30, 2009 and December 31, 2008.

35

Capital Levels

$239.5

$255.2

8.6% 8.5%8.2%

7 5%

8.3%

7 6%

9.2%

10.1%

11.9%$ in Billions

$95 0 $ $$101.4 $100.2

$120.8

$171.1

$190.9

$134.9 $135.8 $138.5$146.8

$156.3$162.7 $161.0

$177.1

6.9%

7.5% 7.6%

$91.1 $95.0 $94.1 $83.4

$93.9 $ 00

1Q07 2Q07 3Q07 4Q07 1Q08 2Q08 3Q08 4Q08 1Q09 2Q09

Tier 1 capital Total shareholders' equity Tier 1 capital ratio

$ in Millions (except per share information)

1Q 2Q 3Q 4Q 1Q 2Q 3Q 4Q 1Q 2QCommon shareholders' equity 132,005$ 132,900$ 135,109$ 142,394$ 139,003$ 138,540$ 136,888$ 139,351$ 166,272$ 196,492$ Total shareholders' equity 134,856 135,751 138,510 146,803 156,309 162,691 161,039 177,052 239,549 255,152

(1)

2007 2008 2009

Tier 1 common (1) n/a n/a n/a n/a n/a 58,853 56,139 63,339 76,145 110,383 Tier 1 capital 91,112 94,979 94,108 83,372 93,899 101,439 100,248 120,814 171,061 190,874 Total capital 126,958 135,059 135,786 133,720 146,531 154,983 153,318 171,661 237,905 255,701 Goodwill, intangibles, & related deferred tax liabilities (2) 74,913 74,565 77,068 87,826 86,006 85,684 89,009 88,615 96,655 95,648 Tangible common shareholders' equity (3) 57,092 58,335 58,041 54,568 52,997 52,856 47,879 50,736 69,617 100,844 Tangible shareholders' equity (3) 59,943 61,186 61,442 58,977 70,303 77,007 72,030 88,437 142,894 159,504 Risk-weighted assets 1,062,883 1,115,150 1,145,069 1,212,905 1,250,942 1,230,307 1,328,084 1,320,824 1,695,192 1,599,569Tangible assets (3) 1,427,244 1,459,794 1,501,695 1,627,920 1,650,496 1,631,191 1,742,168 1,729,328 2,225,308 2,158,746 Total assets 1,502,157 1,534,359 1,578,763 1,715,746 1,736,502 1,716,875 1,831,177 1,817,943 2,321,963 2,254,394Common shares issued and outstanding 4,439 4,437 4,437 4,438 4,453 4,453 4,562 5,017 6,401 8,651 Total equity/Total assets 9.0% 8.8% 8.8% 8.6% 9.0% 9.5% 8.8% 9.7% 10.3% 11.3%Tier 1 common equity ratio (1) n/a n/a n/a n/a n/a 4.8% 4.2% 4.8% 4.5% 6.9%Tier 1 capital ratio 8.6% 8.5% 8.2% 6.9% 7.5% 8.3% 7.6% 9.2% 10.1% 11.9%Total capital ratio 11.9% 12.1% 11.9% 11.0% 11.7% 12.6% 11.5% 13.0% 14.0% 16.0%Tangible common equity ratio (3) 4.0% 4.0% 3.9% 3.4% 3.2% 3.2% 2.8% 2.9% 3.1% 4.7%Tang. common equity/Risk-weighted assets (3) 5.4% 5.2% 5.1% 4.5% 4.2% 4.3% 3.6% 3.8% 4.1% 6.3%Tangible equity ratio (3) 4.2% 4.2% 4.1% 3.6% 4.3% 4.7% 4.1% 5.1% 6.4% 7.4%

Book value per share $29.74 $29.95 $30.45 $32.09 $31.22 31.11$ 30.01$ 27.77$ 25.98$ 22.71$ Tangible book value per share (3) 12.86 13.15 13.08 12.30 11.90 11.87 10.50 10.11 10.88 11.66

36

(1) Tier 1 common is not available prior to 2Q08

(2) Does not include related deferred tax liabilities prior to 1Q08

(3) Tangible measures adjust for the impact of goodwill, intangibles, and related deferred tax liabilities. Prior to 1Q08, tangible measures adjusted for the impact of goodwill and intangibles.

n/a = not applicable

Efficiency Ratio

56%

57%

52% 51%53%

55%

56%

50%

49%48%

49%target

2000 2001 2002 2003 2004 2005 2006 2007 2008 YTD 2009

Efficiency ratio = noninterest expense/(net interest income + noninterest income)

37

Fully taxable-equivalent basis

Debt Ratings

B k f A i t k i li t d Th N Y k St k E h I d Th P ifi St k•Bank of America common stock is listed on The New York Stock Exchange, Inc. and The Pacific Stock Exchange Incorporated under the symbol “BAC”. The common stock is also listed on the London Stock Exchange, and certain shares of common stock are listed on the Tokyo Stock Exchange. The stock is typically listed in the Wall Street Journal as BankAm.

•Bank of America and certain of its banking subsidiaries also have debt securities issued in the marketplace. The Corporation and its primary bank’s debt ratings are:

Credit Rating SummaryUpdated as of August 17, 2009

Bank of America Corporation (1)

Fitch Moody's Standard & Poor's

Outlook Stable Stable Stable

Issuer -- A2 A

Long-Term (Senior) A+ A2 A

L T (S b di d)Long-Term (Subordinated) A A3 A-

Short-Term (CP) F1+ P-1 A-1

Preferred Stock B B3 (Review for Upgrade) B

Trust Preferred BB- Baa3 B

Bank of America, N.A.(2) Bank of America, N.A.Fitch Moody's Standard & Poor's

Outlook Stable Stable Stable

Long-Term A+ Aa3 A+

Short-Term F1+ P-1 A-1

(1)(1) Includes Merrill Lynch & Co.(2) Includes FIA Card Services, N.A. and Merrill Lynch Bank & Trust Co., FSB

38

Preferred Stock Information

Series CUSIP Ticker ( 12) Issue Date Notional F irst Call Date ( 1)

$ in Millions Fixed F loating Rate Paid

BML Series 6 - Fixed (9) 060505575 BML PrN 09/21/2007 $65 6.700 6.700 Non Cumulative 02/03/2009

BML Series 2 - Floating (9) 060505625 BML PrH 03/14/2005 $526 3ML + 65bps (4) 3.000 Non Cumulative 11/28/2009BML Series 1 - Floating (9)

060505633 BML PrG 11/01/2004 $146 3ML + 75bps (4)3.000 Non Cumulative 11/28/2009

BML Series 7 - Fixed (9) 060505567 BML PrO 09/21/2007 $17 6.250 6.250 Non Cumulative 03/18/2010

BML Series 4 - Floating (9) 060505591 BML PrJ 11/17/2005 $389 3ML + 75bps (5) 4.000 Non Cumulative 11/28/2010

BML Series 3 - Fixed (9) 060505617 BML PrI 11/17/2005 $670 6.375 6.375 Non Cumulative 11/28/2010

Rate Cumulative/Non

PREFERRED STOCK

/ / / /BAC Series D - Fixed 060505831 BAC PrD 09/14/2006 $661 6.204 6.204 Non Cumulative 09/14/2011

BAC Series E - Fixed-to-Floating (2) 060505815 BAC PrE 11/06/2006 $487 4.000 3ML + 35bps 4.000 Non Cumulative 11/15/2011

BAC Series N - Fixed (7 ) & (8 ) 10/28/2008 $15,000 5.000 (6 ) 5.000 Cumu lat ive 11/15/2011

BAC Series Q - Fixed (7 ) & (8 ) 01/09/2009 $10,000 5.000 (6 ) 5.000 Cumu lat ive 02/15/2012

BAC Series R - Fixed (7 ) & (8 ) 01/16/2009 $20,000 8.000 8.000 Cumu lat ive 2/15/2012 (1 1 )

BML Series 5 - Floating (9) 060505583 BML PrL 03/20/2007 $606 3ML + 50bps (5) 4.000 Non Cumulative 05/21/2012BAC Series J - Fixed 060505724 BAC PrJ 11/20/2007 $978 7.250 7.250 Non Cumulative 11/1/2012BAC Series H - Fixed 060505765 BAC PrH 05/23/2008 $2,862 8.200 8.200 Non Cumulative 05/01/2013

BML Series 8 - Fixed (9) 060505559 BML PrQ 04/22/2008 $2,673 8.625 8.625 Non Cumulative 05/28/2013BAC Series I - Fixed 060505740 BAC PrI 09/26/2007 $365 6.625 6.625 Non Cumulative 10/01/2017

BAC Series K Fixed to Floating (3) 060505DR2 01/30/2008 $1 668 8 000 3ML + 363bps 8 000 Non Cumulative 01/30/2018BAC Series K - Fixed-to-Floating 060505DR2 01/30/2008 $1,668 8.000 3ML + 363bps 8.000 Non Cumulative 01/30/2018

BAC Series M - Fixed-to-Floating (3) 060505DT8 04/30/2008 $1,434 8.125 3ML + 364bps 8.125 Non Cumulative 05/15/2018

BAC Series L - Fixed (10) 060505682 BAC PrL 01/29/2008 $3,349 7.250 7.250 Non Cumulative Non-CallableBAC Series B 06/01/1988 $1 7.000 7.000 Cumulative Non-Callable

Total $61,896

(1) BAC Preferred is redeemable, in whole or in part, on any dividend payment date on or after the call date, at par. MER legacy Preferred (Series 1 - 8) is redeemable in whole at any time or in part from time to time at par(2) The rate is the greater of the fixed or floating rate(3) Fixed up to the call date, floating afterwards(4) Subject to 3 00% minimum dividend rateSubject to 3.00% minimum dividend rate(5) Subject to 4.00% minimum dividend rate(6) The rate increases to 9% per annum commencing on or after the fifth anniversary of the Original Issue Date(7) Prior to the call date, BAC may redeem, in whole or in part, the Series N & Q Preferred Stock if BAC receives aggregate gross proceeds of $3.75B (in the case of Series N) and $2.5B (in the case of Series Q) from

one or more “Qualified Equity Offerings” (QEOs). The redemption is limited to the proceeds received from the QEOs(8) Neither BAC nor its subsidiaries may redeem, purchase or acquire any shares of common stock, other capital stock (including series of preferred stock other than Series N & Q Preferred Stock), or other equity

securities of BAC or trust preferred securities of BAC or its Affiliates without the consent of the United States Department of the Treasury until the third anniversary of the Original Issue Date (10/28/2011 for

Series N and 01/09/2012 for Series Q) or the total redemption/transfer of the Series N and/or Q(9) BML Series 1 through 8 were issued on 01/02/2009 to replace MER series 1 through 8 Preferred Stock(10) BAC Series L may be converted into common stock at any time at the option of the holder; or at our option, in whole or in part, on or after 01/30/2013, if the closing price of BAC common stock exceeds the trigger

price for 20 trading days during any period of 30 consecutive trading days(11) BAC Series R may not be redeemed prior to the date on which all outstanding shares of UST Preferred Stock (BAC Series N & Q) have been redeemed, repurchased or otherwise acquired by the Corporation(12) Preferred stock ticker symbols as listed on the NYSE

NOTE: Merrill Lynch MC Series 2 & 3 Mandatory Convertible Non-Cumulative Preferred Stock are not included in the chart above, as they are settled contractually in common stock, not cash, on 10/15/2010

Series N, Q, & R, are part of the TARP Capital Purchase Program (CPP)

39

Trust Preferred and Hybrid Securities Information

Aggregate Aggregate

The following table is a summary of the outstanding Trust and Hybrid Securities and the related Notes at December 31, 2008 as originated by Bank of America Corporation and its predecessor companies.

(Dollars in millions) Principal Amount Principal Amount   Stated Maturity Per Annum Interest Interest Payment   Redemption

Issuer Issuance Date of Trust Securities    of the Notes    of the Notes Rate of the Notes Dates    PeriodBank of America      Capital Trust I December 2001 $575 $593    December 2031 7.00 % 3/15,6/15,9/15,12/15    On or after 12/15/06Capital Trust II January 2002 900 928    February 2032 7.00 2/1,5/1,8/1,11/1    On or after 2/01/07Capital Trust III August 2002 500 516    August 2032 7.00 2/15,5/15,8/15,11/15    On or after 8/15/07Capital Trust IV April 2003 375 387    May 2033 5.88 2/1,5/1,8/1,11/1    On or after 5/01/08Capital Trust V November 2004 518 534    November 2034 6.00 2/3,5/3,8/3,11/3    On or after 11/03/09Capital Trust VI March 2005 1,000 1,031    March 2035 5.63 3/8,9/8    Any timeCapital Trust VII August 2005 1,221 1,259    August 2035 5.25 2/10,8/10    Any timeCapital Trust VIII August 2005 530 546    August 2035 6.00 2/25,5/25,8/25,11/25    On or after 8/25/10C it l T t XCapital Trust X March 2006 900 928   March 2055 6.25 3/29,6/29,9/29,12/29   On or after 3/29/11Capital Trust XI May 2006 1,000 1,031    May 2036 6.63 5/23,11/23    Any timeCapital Trust XII August 2006 863 890    August 2055 6.88 2/2,5/2,8/2,11/2    On or after 8/02/11Capital Trust XIII February 2007 700 700    March 2043 3-mo. LIBOR +40 bps 3/15,6/15,9/15,12/15    On or after 3/15/17Capital Trust XIV February 2007 850 850    March 2043 5.63 3/15,9/15    On or after 3/15/17Capital Trust XV May 2007 500 500    June 2056 3-mo. LIBOR +80 bps 3/1,6/1,9/1,12/1    On or after 6/01/37NationsBank      Capital Trust II December 1996 365 376    December 2026 7.83 6/15,12/15    On or after 12/15/06Capital Trust III February 1997 500 515    January 2027 3-mo. LIBOR +55 bps 1/15,4/15,7/15,10/15    On or after 1/15/07Capital Trust IV April 1997 500 515    April 2027 8.25 4/15,10/15    On or after 4/15/07BankAmerica      Institutional Capital A N b 1996 450 464 D b 2026 8 07 6/30 12/31 O f 12/31/06Institutional Capital A November 1996 450 464   December 2026 8.07 6/30,12/31   On or after 12/31/06Institutional Capital B November 1996 300 309    December 2026 7.70 6/30,12/31    On or after 12/31/06Capital II December 1996 450 464    December 2026 8.00 6/15,12/15    On or after 12/15/06Capital III January 1997 400 412    January 2027 3-mo. LIBOR +57 bps 1/15,4/15,7/15,10/15    On or after 1/15/02Barnett      Capital III January 1997 250 258    February 2027 3-mo. LIBOR +62.5 bps 2/1,5/1,8/1,11/1    On or after 2/01/07Fleet      Capital Trust II December 1996 250 258    December 2026 7.92 6/15,12/15    On or after 12/15/06Capital Trust V December 1998 250 258    December 2028 3-mo. LIBOR +100 bps 3/18,6/18,9/18,12/18    On or after 12/18/03Capital Trust VIII March 2002 534 550    March 2032 7.20 3/15,6/15,9/15,12/15    On or after 3/08/07Capital Trust IX July 2003 175 180    August 2033 6.00 2/1,5/1,8/1,11/1    On or after 7/31/08BankBostonBankBoston    Capital Trust III June 1997 250 258    June 2027 3-mo. LIBOR +75 bps 3/15,6/15,9/15,12/15    On or after 6/15/07Capital Trust IV June 1998 250 258    June 2028 3-mo. LIBOR +60 bps 3/8,6/8,9/8,12/8    On or after 6/08/03Progress      Capital Trust I June 1997 9 9    June 2027 10.50 6/1,12/1    On or after 6/01/07Capital Trust II July 2000 6 6    July 2030 11.45 1/19,7/19    On or after 7/19/10Capital Trust III November 2002 10 10    November 2032 3-mo. LIBOR +335 bps 2/15,5/15,8/15,11/15    On or after 11/15/07Capital Trust IV December 2002 5 5    January 2033 3-mo. LIBOR +335 bps 1/7,4/7,7/7,10/7    On or after 1/07/08MBNA      Capital Trust A December 1996 250 258    December 2026 8.28 6/1,12/1    On or after 12/01/06Capital Trust B January 1997 280 289    February 2027 3-mo. LIBOR +80 bps 2/1,5/1,8/1,11/1    On or after 2/01/07Capital Trust D June 2002 300 309 October 2032 8 13 1/1 4/1 7/1 10/1 On or after 10/01/07Capital Trust D June 2002 300 309   October 2032 8.13 1/1,4/1,7/1,10/1   On or after 10/01/07Capital Trust E November 2002 200 206    February 2033 8.10 2/15,5/15,8/15,11/15    On or after 2/15/08ABN Amro North America      Series I May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 2/15,5/15,8/15,11/15    On or after 8/15/06Series II May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 3/15,6/15,9/15,12/15    On or after 9/15/06Series III May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 1/15,4/15,7/15,10/15    On or after 10/15/06Series IV May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 2/28,5/30,8/30,11/30    On or after 8/30/06Series V May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 3/30,6/30,9/30,12/30    On or after 9/30/06Series VI May 2001 77 77    Perpetual 3-mo. LIBOR +175 bps 1/30,4/30,7/30,10/30    On or after 10/30/06Series VII May 2001 88 88    Perpetual 3-mo. LIBOR +175 bps 3/15,6/15,9/15,12/15    On or after 9/15/06Series IX June 2001 70 70    Perpetual 3-mo. LIBOR +175 bps 3/5,6/5,9/5,12/5    On or after 9/05/06Series X June 2001 53 53 Perpetual 3 mo LIBOR +175 bps 3/12 6/12 9/12 12/12 On or after 9/12/06Series X June 2001 53 53   Perpetual 3-mo. LIBOR +175 bps 3/12,6/12,9/12,12/12   On or after 9/12/06Series XI June 2001 27 27    Perpetual 3-mo. LIBOR +175 bps 3/26,6/26,9/26,12/26    On or after 9/26/06Series XII June 2001 80 80    Perpetual 3-mo. LIBOR +175 bps 1/10,4/10,7/10,10/10    On or after 9/12/06Series XIII June 2001 70 70    Perpetual 3-mo. LIBOR +175 bps 1/24,4/24,7/24,10/24    On or after 10/24/06LaSalle      

Series I August 2000 491 491    Perpetual 6.97% through 9/15/2010; 3/15,6/15,9/15,12/15    On or after 9/15/10

3-mo. LIBOR +105.5 bps

thereafter

Series J September 2000 95 95    Perpetual 3-mo. LIBOR +5.5 bps 3/15,6/15,9/15,12/15    On or after 9/15/10

through 9/15/2010; 3-mo.

LIBOR +105.5 bps

thereafter

40

thereafterCountrywide      Countrywide Capital III June 1997 200 206    June 2027 8.05 6/15,12/15    Only under special eventCountrywide Capital IV April 2003 500 515    April 2033 6.75 1/1,4/1,7/1,10/1    On or after 4/11/08Countrywide Capital V November 2006 1,495 1,496    November 2036 7.00 2/1,5/1,8/1,11/1    On or after 4/11/08Total $20,047 $20,513      

Bank of America Business Segments

Current Environment

2009 Economic Environment and Current Business Environment2009 Economic Environment and Current Business Environment

During the first six months of 2009, credit quality deteriorated further as the global economy continued to weaken. Consumers experienced high levels of stress from higher unemployment and underemployment as well as further declines in home prices. Consumer net charge-offs in our consumer real estate portfolios increased, reflecting deterioration in the economy and housing markets, particularly in geographic areas that have experienced the most significant declines in home prices. The weak economy also drove higher losses in the consumer credit card portfolio. These factors combined with further reductions in spending by consumers and businesses also negatively impacted the commercial portfolio. Higher commercial net charge-offs were driven by commercial real estate, reflecting deterioration across various property types, and the commercial domestic portfolio, reflecting broad-based deterioration in terms of borrowers and industries. In addition to increased net charge-offs, nonperforming assets and commercial criticized utilized exposure were higher and reserves were increased across most portfolios during the six months ended June 30, 2009.

Capital market conditions showed some signs of improvement during the first six months of 2009 and Global Markets took advantage of the favorable trading environment However during the second quarter of 2009Markets took advantage of the favorable trading environment. However, during the second quarter of 2009 we were adversely impacted by credit valuation adjustments on derivative liabilities as the Corporation’s credit spreads tightened. Market dislocations that occurred throughout 2008 continued to impact our results in the first six months of 2009 but to a lesser extent as we incurred reduced market disruption charges on legacy Bank of America positions compared to the same period in the prior year. We have also reduced certain asset levels in Global Markets for balance sheet efficiencies.

In addition, GWIM was affected by the market downturn, which adversely impacted our assets under management (AUM), related fees and lower brokerage commissions.

The above conditions, together with continued weakness in the overall economy, will continue to affect many of the markets in which we do business and may adversely impact our results for the remainder of 2009. The degree of the impact is dependent upon the duration and severity of such conditions.

42

Deposits

B k f A i ’ D it t i l d th lt f d it ti iti hi h i l dBank of America’s Deposits segment includes the results of consumer deposits activities, which include a comprehensive range of products for consumers and small business. In addition, Deposits includes student lending results and the net effect of our Asset Liability Management (ALM) activities.

Despite recent challenges, Deposits continues to be a key driver of revenue and earnings for Bank of America. We lead the industry in retail deposits and market share. As macroeconomic factors, industry consolidation and changes in consumer behavior continue to influence the environment in which we operate we are accelerating work that was already underway leveraging our strong foundation ofoperate, we are accelerating work that was already underway – leveraging our strong foundation of deposits, distribution and innovation – to focus on profitable growth.

Features:

• In the U.S., we serve approximately 53 million consumer and small business relationships(1) in 32 states and the District of Columbia. Eighty-two percent of the U.S. population lives and works in our footprint, and we have leadership positions in 23 of top 30 U.S. metro markets.

•Our customers enjoy unrivaled convenience, including our 6,109 banking centers, 18,426 domestic branded ATMs, nationwide call centers, and leading online and mobile capabilities.

•Deposits provide one of the primary entry points for new customers of Bank of America, and deposit balances provide a relatively stable source of funding and liquidity. Deposit products to consumers and small businesses include:

– Regular and interest-checking accounts– Regular and interest-checking accounts

– Traditional savings accounts

– Money market savings accounts

– CDs and IRAs

•Bank of America earns net interest revenues from investing this liquidity in earning assets through client-g q y g gfacing lending activity and ALM activities. The revenue is allocated to the deposits products using our funds transfer pricing process, which takes into account the interest rates and maturity characteristics of the deposits.

•Deposits also generate fees such as account service fees, non-sufficient fund fees, overdraft charges and ATM fees.

•Total amount of average Q2 2009 deposit balances for the Deposits segment is $417.1 billion. Total g Q p p gamount of average Q2 2009 retail deposits including Countrywide and Merrill Lynch is $665.7 billion.

(1) Excluding Countrywide and Merrill Lynch

43

Deposits

A hi tAchievements:

•#1 online bank with 29 million active users

•#1 mobile bank with 2.7 million active users

•16 million active online bill pay users. The number of customers who sign up and use Bank of America’s Bill Pay service continues to surpass that of any other financial institution.

•The introduction of Deposit Image ATMs, which provide an enhanced customer experience by printing an image of the deposited items on the receipt and requiring no deposit envelope

•Keep the Change™, Bank of America’s signature savings tool, has provided customers with more than $2 billion in savings since its launch in 2006.

Key Data:

•2009 June YTD net interest income of $3.7 billion is down 28.8 percent compared to prior year as a result of spread compression due to declining interest rates and a lower residual net interest income allocation related to our ALM activities.

•Q2 2009 average retail deposit balances grew $4.2 billion or 0.6 percent, compared to Q1 2009. Excluding the expected runoff of high yielding Countrywide balances, average retail deposits improved $10.5 billion or 1.7 percent versus the prior quarter. Legacy Bank of America average retail deposits grew 6.0 percent compared to Q2 2008compared to Q2 2008.

YTD Revenue ($ in Billions)

Retail Deposits (1)

($ in Billions)

$8 5 $81 0 $84.5$ $587 8

$661.5 $665.7

$3.4

$3.2

$8.5

$6.9

$38.7 $31.6 $26.1 $19.7

$81.0 $84.5

$529.4

$576.1 $587.8

$5.1

$3.7

$529.4 $537.4 $556.2 $554.5 $561.4

44

(1) Retail deposits include GWIM deposits, certain deposits from Global Banking and All Other

June 2008 YTD June 2009 YTDNet interest income Noninterest income

2Q08 3Q08 4Q08 1Q09 2Q09Legacy BAC Legacy CFC Legacy MER

Deposits

Key Data (continued):Key Data (continued):

• Average Q2 2009 deposits for Deposits grew $79.9 billion, or 24 percent, from a year earlier due to organic growth in checking and savings products, migration of certain households’ deposits from GWIM and the Countrywide acquisition.

• We added approximately 394,000 net new retail checking accounts during the six months ended June 30, 2009, a decrease of approximately 837,000 from the same period in 2008. The reduction was attributable , pp y , pto lower sales activity and higher closure volume resulting from the current economic environment and risk mitigation activities.

Deposits SegmentQ2 2009 Average Deposit Balances

Foreign and Other1%

Checking33%CDs & IRAs

37%

Traditional Savings8%

Money Market Savings

22%

45

Deposits Financials - Segment Results (1)

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Net income decreased $733 million, or 59 percent, to $505 million driven by lower net revenue and higher noninterest expense. Net interest income decreased $877 million, or 33 percent, to $1.7 billion as a result of a lower residual net interest income allocation from ALM activities and spread compression due to declining interest rates. Average deposits grew $79.9 billion, or 24 percent, due to organic growth in checking and savings accounts, migration of certain households’ deposits from GWIM and the Countrywide acquisition. Noninterest income remained relatively flat at $1.7 billion as service charges remained unchanged. The positive impacts of account growth and revenue initiatives were offset by changes in consumer spending behavior attributable to current economic conditions. Noninterest expense increased $325 million, or 14 percent, to $2.6 billion primarily due to increased FDIC expense, including a special assessment.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:

N i d d $1 3 billi 53 d i b l d hi h i N i i d d $1 5Net income decreased $1.3 billion, or 53 percent, driven by lower net revenue and higher noninterest expense. Net interest income decreased $1.5 billion, or 29 percent, while average deposits grew $59.1 billion, or 17 percent. Noninterest income decreased $104 million, or three percent, and noninterest expense was higher by $492 million, or 11 percent. These period-over-period changes were driven by the same factors as described in the three-month discussion above.

(Dollars in millions)

Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (2) $3,659 $5,136 $1,748 $1,911 $2,984 $2,905 $2,625Noninterest income:

Service charges 3,252 3,306 1,749 1,503 1,676 1,821 1,742 All other income (loss) (4) 46 (2) (2) 11 11 33

Total noninterest income 3,248 3,352 1,747 1,501 1,687 1,832 1,775

Six Months EndedJune 30

Total revenue, net of interest expense 6,907 8,488 3,495 3,412 4,671 4,737 4,400

Provision for credit losses 187 195 96 91 107 98 89 Noninterest expense 5,008 4,516 2,649 2,359 2,238 2,119 2,324

Income before income taxes 1,712 3,777 750 962 2,326 2,520 1,987 Income tax expense (2) 606 1,414 245 361 735 950 749

Net income $1,106 $2,363 $505 $601 $1,591 $1,570 $1,238

Net interest yield (2) 1.86 % 3.10 % 1.69 % 2.06 % 3.23 % 3.13 % 3.18 %

Return on average equity 9.47 19.31 8.58 10.39 25.85 25.92 20.30 g q yEfficiency ratio (2) 72.50 53.21 75.80 69.12 47.92 44.74 52.82

Balance sheet

AverageTotal earning assets (3) $396,248 $333,671 $415,798 $376,481 $367,631 $369,121 $331,886Total assets (3) 422,756 365,798 442,419 402,874 394,426 394,718 364,444

Total deposits 397,454 338,358 417,114 377,575 378,951 379,071 337,253

Allocated equity 23 530 24 600 23 576 23 484 24 493 24 088 24 520Allocated equity 23,530 24,600 23,576 23,484 24,493 24,088 24,520

Period end Total earning assets (3) $421,996 $334,671 $421,996 $390,782 $364,557 $371,772 $334,671Total assets (3) 448,200 363,326 448,200 417,123 391,698 398,938 363,326

Total deposits 423,192 336,136 423,192 391,604 376,974 383,078 336,136

(1) Deposits includes the net impact of migrating customers and their related deposit balances between Global Wealth & Investment Management (GWIM) and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment. (2) Fully taxable-equivalent basis (3) Total earning assets and total assets include asset allocations to match liabilities (i e deposits)

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 the current period presentation.

Deposits Financials - Key Indicators

(Dollars in millions, except as noted)Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Average deposit balances

Checking $130,996 $127,047 $135,837 $126,101 $124,625 $125,844 $128,240Savings 31,034 29,460 32,488 29,564 28,687 29,392 30,092 MMS 85,025 68,066 91,537 78,441 80,677 80,364 69,772 CDs and IRAs 146,777 110,953 153,358 140,123 141,895 139,628 106,153 Foreign and other 3,622 2,832 3,894 3,346 3,067 3,843 2,996

Six Months EndedJune 30

Total average deposit balances $397,454 $338,358 $417,114 $377,575 $378,951 $379,071 $337,253

Total balances migrated to (from) GWIM $(40,480) $12,662 $(34,340) $(6,140) $4,542 $3,272 $5,631

Deposit spreads (excludes noninterest costs)Checking 4.12 % 4.21 % 4.07 % 4.18 % 4.25 % 4.23 % 4.15 %Savings 3.88 3.79 3.87 3.89 3.82 3.80 3.70 MMS 0.23 1.42 0.55 (0.14) 0.91 1.15 1.30 CDs and IRAs 0.07 0.47 0.05 0.09 0.26 0.14 0.40 Foreign and other 3.44 3.56 3.36 3.54 3.76 3.72 3.62

Total deposit spreads 1.75 2.36 1.78 1.71 1.99 2.01 2.31

Net new retail checking (units in thousands) 394 1,231 176 218 130 823 674

Online banking (end of period) Active accounts (units in thousands) 29,196 25,299 29,196 29,515 28,854 28,636 25,299 Active billpay accounts (units in thousands) 16,000 13,269 16,000 16,031 15,861 15,732 13,269

Bank of America has the largest active online banking customer base with 29.2 million subscribers.

16 0 $ 9 6 f f f S f

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

16.0 million active bill pay users paid $79.6 billion worth of bills this quarter. The number of customers who sign up and use Bank of America's Bill Pay Service continues to surpass that of

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

Currently, approximately 330 companies are presenting 39.1 million e-bills per quarter.

any other financial institution.

47

Global Card Services

Global Card Services provides a broad offering of credit and debit cards and unsecured lines of credit to p gconsumers and small businesses. Our products include a variety of unique credit card reward programs as well as credit and debit co-branded and affinity card products.

Core Businesses:

‐ Consumer Card

‐ Small Business Lending

‐ Consumer Lending

‐ International Loan Products

‐ Debit Card

Features:

• Bank of America is the recognized leader in affinity marketing and is the number one affinity issuer with approximately 4,700 affinity partners worldwide, including the AAA, Alaska Airlines, National Education Association, Upromise, National Football League, and Major League Baseball.

•Bank of America has the number two market share position in credit card products in the U.S. and is the number one credit card lender in Europe. International credit card operations are in the United Kingdom, Ireland, Spain and Canada.

• In the first half of 2009, Global Card Services generated managed revenues of $14.8 billion, which accounted for 22 percent of total Bank of America.

Recent Achievements:•Several new affinity partnerships were signed during the first half of 2009. Significant signings included The

Human Rights Campaign and The World Wildlife Fund (WWF) U.S.•Affinity renewals completed through June included Alaska and Hawaiian Airlines.•Bank of America launched its Add It Up™ program which is a secure Web site that allows enrolled customers•Bank of America launched its Add It Up program, which is a secure Web site that allows enrolled customers

to earn up to 20 percent cash back on their purchases at more than 270 online retailers, including top names such as Walmart.com, BestBuy.com and Barnes & Noble.com.

•Bank of America continues to be the largest credit card lender in Europe with a 9.4 percent market share.• In the first six months of 2009, signed new card affinity deals with Amazon.co.uk and Play.com, two of the

largest online retailers in Europe, giving access to over 15 million customers. •Europe Card Services has renewed affinity relationships with 123 affinity partners including Halfords and a

number of leading soccer teams (Blackburn Rovers, Middlesborough and Newcastle United).•Canada Card Services introduced the new Shoppers Optimum MasterCard credit card program in March.

Shoppers Drug Mart is the number one provider of pharmacy products and services in Canada with over 1,149 stores. Shoppers also owns Shoppers Home Health Care® stores, making it the largest Canadian retailer of home health care products and services.

•Additional affinity signings for Canada Card Services included the ZOOMER Rewards MasterCard credit card, the Shinhan Bank Canada MasterCard credit card and the Canadian Wildlife Federation (CWF) which introduced the Eco-Logique MasterCard.

48

Global Card Services

Key Data:W l t Gl b l C d S i b i d b i M d b i t t iti d lWe evaluate our Global Card Services business on a managed basis. Managed basis treats securitized loan receivables as if they were still on the balance sheet and presents the earnings on the sold loan receivables as if they were not sold. The receivables that have been securitized are subject to the same underwriting standards and ongoing monitoring as the held loans. The credit performance of the managed portfolio is important to understanding the results of card operations.

Managed Credit Card Data (1) Year-to-Date Global Card ServicesDollars in millions

2009 2008Gross Interest Yield 11.51% 11.68%Risk adjusted margin (2) 2.94% 6.56%

Loss rates 10.16% 5.58%Average outstandings (3) $175,524 $184,676 Ending outstandings (3) $169,815 $187,162 New account growth (4) 2,188 5,279

Retail volume $100,000 $124,278

D li i

June 30,

Consumer

Consumer Lending

8 6%

Debit Card8.4%

Small Business Lending

6.4%

Other(0.4%)

June 2009 YTD Total Managed Revenue

Delinquencies

30+ Day 7.64% 5.53%

90+ Day 4.21% 2.82%

(1) Reflects US, Europe and Canada consumer credit card on a managed basis

(2) Reflects margin and noninterest revenue adjusted for loss rates

(3) Outstandings for 2008 include Government Card

(4) New accounts in thousands

Card 63.2%

International13.8%

8.6%

$199,785

14.19%

11.97%

Payment Volumes$ in Millions

$201 424 $181 743

$39,193 $34,161

$240,617 $215,904

Ending Managed Loans $ in Millions

$161,560

11.97%

June 2008 YTD June 2009 YTDPayment Volume Payment Rate

$201,424 $181,743

June 2008 YTD June 2009 YTDDomestic Loans Foreign Loans

eCommerce18.9%

Alternate Other12 1%

Media Marketing

June 2009 YTD Account Production by Channel(includes Debit Card)

$104,329 $106,291

$239,240 $215,170

Retail Volumes$ in Millions

49

Franchise54.9%

12.1%Direct Mail

5.7%

g3.2%

Teleservices1.9%

Event Marketing

1.5%Point of Sale

1.2%Acquired Accounts

0.5%

$134,911 $108,879

June 2008 YTD June 2009 YTDRetail Volume Debit Card Retail Volume

Global Card Services Financials - Segment Results (1)

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Global Card Services recorded a net loss of $1.6 billion for the three months ended June 30, 2009 compared to net income of $582 million for the same period in 2008 as higher provision for credit losses and lower noninterest income were partially offset by growth in net interest income and a decrease in noninterest expense. Net interest income grew $307 million, or six percent, to $5.0 billion driven by increased loan spreads due to the beneficial impact of lower short-term interest rates on our funding costs partially offset by a decrease in managed average loans and leases of $18.6 billion, or eight percent. Noninterest income decreased $470 million, or 17 percent, to $2.3 billion driven by a decrease in card income of $390 million, or 15 percent. This resulted from a decrease in credit card interchange and fee income primarily due to changes in consumer retail purchase and payment behavior in the current economic environment partially offset by an increase in debit interchange income. Provision for credit losses increased by $3.5 billion to $7.7 billion as economic conditions led to deterioration in the consumer card and consumer lending portfolios, including a higher level of bankruptcies. Also contributing were reserve additions related to maturing securitizations. Noninterest expense decreased $399 million,

17 $2 0 billi d l i d k ior 17 percent, to $2.0 billion due to lower operating and marketing costs.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Global Card Services recorded a net loss of $3.5 billion compared to net income of $1.4 billion for the same period in 2008 as higher provision for credit losses and lower noninterest income were partially offset by growth in net interest income and a decrease in noninterest expense. Net interest income increased $977 million, or 10 percent, to $10.3 billion, noninterest income decreased $1.6 billion, or 26 percent, to $4.5 billion, provision for credit losses increased $7.5 billion to $16.2 billion and noninterest expense decreased $519 million, or 11 percent. These period-over-period changes were driven by the same factors as described in the three-month discussion above. In addition, noninterest income was adversely impacted by the absence of a positive valuation adjustment on the interest-only strip that was recorded during the six months ended June 30, 2008. Also, other income included a one-time Visa-related IPO gain of $388 million in 2008.

(Dollars in millions) Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (2) $10,308 $9,331 $5,049 $5,259 $5,302 $4,922 $4,742Noninterest income:

Card income 4,279 5,275 2,164 2,115 2,469 2,290 2,554

Six Months EndedJune 30

All other income 259 824 124 135 239 534 204 Total noninterest income 4,538 6,099 2,288 2,250 2,708 2,824 2,758 Total revenue, net of interest expense 14,846 15,430 7,337 7,509 8,010 7,746 7,500

Provision for credit losses (3) 16,182 8,711 7,741 8,441 5,851 5,602 4,259 Noninterest expense 4,053 4,572 1,976 2,077 2,177 2,404 2,375

Income (loss) before income taxes (5,389) 2,147 (2,380) (3,009) (18) (260) 866 Income tax expense (benefit) (2) (1,895) 746 (762) (1,133) (61) (89) 284

Net income (loss) $(3,494) $1,401 $(1,618) $(1,876) $43 $(171) $582

Net interest yield (2) 9.27 % 7.91 % 9.20 % 9.34 % 9.03 % 8.15 % 7.97 %

Return on average equity n/m 7.28 n/m n/m 0.42 n/m 6.01 Efficiency ratio (2) 27.30 29.63 26.93 27.66 27.19 31.04 31.67

Balance sheet

Average

Total loans and leases $224,391 $236,738 $220,365 $228,461 $233,427 $239,951 $238,918T t l i t 224 274 237 145 220 133 228 460 233 513 240 298 239 413Total earning assets 224,274 237,145 220,133 228,460 233,513 240,298 239,413 Total assets 241,285 259,807 236,017 246,611 253,455 261,798 261,456 Allocated equity 41,249 38,716 42,118 40,370 40,295 39,008 38,978

Period end

Total loans and leases $215,904 $240,617 $215,904 $221,984 $233,040 $235,998 $240,617Total earning assets 215,633 240,994 215,633 221,794 233,094 236,157 240,994 Total assets 231,986 263,253 231,986 238,410 252,684 256,885 263,253

(1) Presented on a managed basis.

50

(1) Presented on a managed basis. (2) Fully taxable-equivalent basis (3) Represents provision for credit losses on held loans combined with realized credit losses associated with the securitized loan portfolio.n/m = not meaningful

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

Global Card Services Financials - Key Indicators

(Dollars in millions)Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008

Credit Card Data (1)

LoansAverage

Held credit card outstandings $73,167 $78,370 $70,546 $75,818 $82,117 $80,489 $78,221

Six Months EndedJune 30

Securitization impact 102,357 106,306 102,046 102,672 99,116 105,919 107,438 Managed credit card outstandings $175,524 $184,676 $172,592 $178,490 $181,233 $186,408 $185,659

Period endHeld credit card outstandings $69,377 $78,642 $69,377 $67,960 $81,274 $81,350 $78,642Securitization impact 100,438 108,520 100,438 105,392 100,960 102,048 108,520

Managed credit card outstandings $169,815 $187,162 $169,815 $173,352 $182,234 $183,398 $187,162

Credit QualityCharge-offs $

Held net charge-offs $3,676 $2,064 $2,064 $1,612 $1,406 $1,242 $1,108Securitization impact 5,165 3,059 2,983 2,182 1,857 1,754 1,643

Managed credit card net losses $8,841 $5,123 $5,047 $3,794 $3,263 $2,996 $2,751

Charge-offs %Held net charge-offs 10.13 % 5.29 % 11.74 % 8.62 % 6.82 % 6.14 % 5.69 %Securitization impact 0.03 0.29 (0.01) - 0.34 0.26 0.27

Managed credit card net losses 10.16 % 5.58 % 11.73 % 8.62 % 7.16 % 6.40 % 5.96 %

30+ Delinquency $Held delinquency $5,221 $4,121 $5,221 $5,365 $5,324 $4,675 $4,121Securitization impact 7,748 6,226 7,748 8,246 6,844 6,126 6,226

Managed delinquency $12,969 $10,347 $12,969 $13,611 $12,168 $10,801 $10,347

30+ Delinquency %Held delinquency 7.53 % 5.24 % 7.53 % 7.90 % 6.55 % 5.75 % 5.24 %Securitization impact 0.11 0.29 0.11 (0.05) 0.13 0.14 0.29

Managed delinquency 7.64 % 5.53 % 7.64 % 7.85 % 6.68 % 5.89 % 5.53 %

90+ Delinquency $Held delinquency $2,894 $2,109 $2,894 $2,816 $2,565 $2,330 $2,109S iti ti i t 4 263 3 169 4 263 4 106 3 185 2 958 3 169Securitization impact 4,263 3,169 4,263 4,106 3,185 2,958 3,169

Managed delinquency $7,157 $5,278 $7,157 $6,922 $5,750 $5,288 $5,278

90+ Delinquency %Held delinquency 4.17 % 2.68 % 4.17 % 4.14 % 3.16 % 2.87 % 2.68 %Securitization impact 0.04 0.14 0.04 (0.15) - 0.01 0.14

Managed delinquency 4.21 % 2.82 % 4.21 % 3.99 % 3.16 % 2.88 % 2.82 %

Other Global Card Services Key IndicatorsManaged credit card data

Gross interest yield 11.51 % 11.68 % 11.33 % 11.68 % 11.87 % 11.52 % 11.44 %Risk adjusted margin 2.94 6.56 1.28 4.56 6.38 6.67 6.30 New account growth (in thousands) 2,188 5,279 958 1,230 1,432 1,765 2,665 Purchase volumes $100,000 $124,278 $51,944 $48,056 $56,585 $62,662 $64,457

Debit Card Data Debit purchase volumes $106,291 $104,329 $55,158 $51,133 $52,925 $53,252 $54,268

(1) Credit Card includes U.S, Europe and Canada consumer credit card. Does not include business card, debit card and consumer lending.

51

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

Home Loans & Insurance

The Bank of America Home Loans brand, launched on April 27, 2009, represents the combined operations ofThe Bank of America Home Loans brand, launched on April 27, 2009, represents the combined operations of Bank of America’s mortgage and home equity businesses and Countrywide Home Loans, which Bank of America acquired on July 1, 2008. The Countrywide brand has been retired.

Bank of America Home Loans & Insurance provides customers with products and services in three core product areas: Residential Mortgage, Home Equity and Reverse Mortgage, and Insurance. First mortgage products are either sold into the secondary mortgage market to investors, while retaining mortgage servicing rights and the Bank of America customer relationships, or are held on our balance sheet in All Other for ALM purposes.

Bank of America is committed to helping customers sustain homeownership by lending responsibly. Our commitment includes educating consumers to help them make informed decisions, and offering clear, understandable products with no surprises.

Features:

• Distribution channels include Bank of America’s extensive banking center network, mortgage loan officers, online, telephone, and wholesale and correspondent offerings.

• The vast majority of our originated mortgage products meet the conforming loan standards of Fannie Mae, Freddie Mac, or the Federal Housing Administration.

• We serve the unique home finance needs of the growing senior consumer population with reverse mortgage products available through a network of specially trained loan officers.g

•Bank of America's Insurance Services Group provides:– Insurance and financial protection solutions to bank customers and third party institutional clients – Loan protection products, as well as home warranty services and identity theft coverage for credit

card, home equity and mortgage customers– Diversified consumer offerings, including auto, homeowners, renters and term life insurance

Achievements: •Bank of America is the nation’s leading mortgage servicer, second largest mortgage originator and the

leading home equity provider through the first half of 2009.•Our Clarity CommitmentTM home loan summary, has been hailed within the media and the industry as an

exemplary response designed to restore faith and credibility among consumers within the industry.

52

Home Loans & Insurance

Mortgage Origination Market

Total Originations & Rankings (First Half 2009)

Peer Comparison

Bank of America Statistics Industry Statistics

Mortgage Origination Market

First Half 2009 - $995 Billion

• #2 Lender with 20.5% market share

• Based on $204 billion in production20.5%

23.5%

8 2%

42.2%

Bank of America, #2

Wells Fargo, #1

JPM Chase, #3

Citibank, #4

Channel Composition & Rankings (First Half 2009)

• #2 Retail lender with 21.9% channel share

Channel Distribution

8.2%5.6%All Others

First Half 2009 - $995 Billion

• Based on $103 billion in production

• #6 Wholesale lender with 6.2% channel share

• Based on $10 billion in production

• #1 Correspondent lender with 24.7% channel share

47%

16%

37%Retail, $469B

Wholesale, $157B

Correspondent, $369B

• Based on $91 billion in production

Product Composition & Rankings (First Half 2009)Product Distribution

First Half 2009 - $995 Billion

• #2 Conforming lender with 17.0% product share

• Based on $117 billion in production

• #1 FHA/VA lender with 30.3% product share

• Based on $67 billion in production 69%

22%

5%

3%

0.5%

Conforming, $687B

FHA/VA, $221B

Prime Jumbo, $51B

Home Equity, $31B

53Source: Inside Mortgage Finance Publications, Inc. Copyright 2009; Ranking and volume are based on combined volume for Bank of America and Countrywide Financial as reported

by Inside Mortgage Finance Publications, Inc.

Other, $5B

Home Loans & Insurance

Bank of America’s mortgage business generates revenue by providing mortgage products that enable customers to

Bank of America Home Loans – First Mortgageg g g y p g g g p

achieve and sustain home ownership.

Features:

• In the first six months of 2009, we funded more than $195 billion in first mortgage loan products and increased our mortgage lending capacity in response to the surge in home loan inquiries and applications to help nearly 880,000 people either purchase a home or refinance their existing mortgage in the first six months of 2009. In the second quarter of 2009, approximately 29 percent of first mortgages were for purchases.

• Now has a network of more than 8,000 mortgage loan sales professionals in addition to the associates located in our banking centers, and an unmatched distribution of 6,109 banking centers – crossing diverse geographic and economic markets

• Maintains a servicing portfolio of over $2 trillion, representing 14.1 million loans

• As part of the 2009 Bank of America Home Loans brand launch, new tools and programs reflecting the simplicity, clarity and transparency customers tell us they want from the home lending process were introduced. This approach to lending i th b i f b d i hi h i l t b ibl l d d h l t f l h is the basis of our brand promise, which is always to be a responsible lender and help create successful homeowners. Tools and programs include:

– The Clarity Commitment TM, a single, one-page loan summary that clearly presents to borrowers their interest rate, terms and other details of the loan in plain language.

– The Bank of America Home Loan Guide, an interactive Web site that arms customers with the personalized information to prepare for homeownership and make informed home buying and refinance decisions.

Achievements:

• In the first six months of 2009, Bank of America’s mortgage business was the #1 loan servicer and #2 mortgage originator as reported by Inside Mortgage Finance with a market share of 20 percent.

• As one of the nation’s leading home loan providers, Bank of America has taken a leadership role by making commitments to our customers and communities. This includes:

– Helping customers avoid foreclosures by providing rate relief or agreeing to modifications with approximately 151,000 customers for the first six months of 2009, compared with more than 230,000 for all of 2008. In addition, as of mid-July 2009, approximately 80,000 customers were already in a trial modification period or addition, as of mid July 2009, approximately 80,000 customers were already in a trial modification period or were in the process of responding to an offer under the Making Home Affordable program.

– Working with 40 state Attorneys General, we created the National Homeownership Retention Program, and have committed to assisting up to 400,000 eligible Countrywide and Bank of America borrowers with option ARM or subprime loans.

– Doubling the size of our home retention team since last year, which now has more than 7,500 associates dedicated to helping customers stay in their homes.

– Working with community stakeholders and city and state grantees that received funding under the Neighborhood Stabilization Program administered by the U.S. Department of Housing and Urban Development to repurpose abandoned, bank-owned or bank-serviced properties in low- to moderate-income communities.

– Undertaking a 10-year, $1.5 trillion community development lending and investing goal, focused on delivering capital to low- to moderate-income and minority communities for affordable housing, economic development and consumer and small business lending.

– Creating a $35 million “Neighborhood Preservation and Foreclosure Prevention Program” to help provide loan counseling, foreclosure prevention, and support for purchase and management of vacant properties.

Origination mortgages to lo and moderate income borro ers and areas totaled $40 billion in first half of – Origination mortgages to low- and moderate-income borrowers and areas totaled $40 billion in first half of 2009, serving more than 256,000 borrowers. This includes First Mortgage and Home Equity.

54

Home Loans & Insurance

Bank of America is the nation’s leading home equity provider with the industry’s largest home equity portfolioBank of America Home Loans – Home Equity and Reverse Mortgage Bank of America is the nation s leading home equity provider with the industry s largest home equity portfolio with $155 billion in funded commitments and an additional $99 billion in unfunded commitments, serving more than 2.7 million customers. Bank of America continues to adapt to changing economic realities, adjusting our credit policy responsibly to ensure that customers who obtain home equity financing are capable of making interest and principal payments.

Features:

• We provide our customers with an extensive line of home equity products and services through retail• We provide our customers with an extensive line of home equity products and services through retail channels, including banking centers, retail mortgage offices, telephone, and internet. Product offerings include home equity lines of credit (HELOCs), with variable interest rate or fixed-rate loan options, and home equity loans (HELOANs).

• Our products help customers realize their financial goals and stimulate economies in communities across the nation, as customers use their loans to make home improvements, consolidate credit card debt, pay for education, and invest in small businesses.

• Throughout the first half of 2009, deteriorating housing values and rising unemployment continued to impact the credit quality of our home equity portfolio.

• The reverse mortgage business is benefiting from government action to raise reverse mortgage limits and increase loan availability to seniors.

• Through the first half of 2009, reverse mortgage volume has maintained its industry leadership position through the balanced approach of both a strong direct to consumer channel and a sustainable business tothrough the balanced approach of both a strong direct-to-consumer channel and a sustainable business-to-business model. In the first half of 2009, reverse mortgage originations totaled over $3.6 billion.

– Despite continued challenging economic conditions, Bank of America experienced strong double-digit percentage growth in reverse mortgage production in the first half of 2009 versus the same period in 2008, fueled by expanded government loan limits, uncertainties in traditional retirement portfolios and the Countrywide acquisition.

– The direct-to-consumer model is supported by referrals from the largest national banking center t k hil th b i t b i d l i t d b t i l ti hi ith hi hnetwork, while the business-to-business model is supported by extensive relationships with high-

quality brokers and a robust origination and fulfillment platform.

55

Home Loans & Insurance Financials - Segment Results

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Home Loans & Insurance recorded a net loss of $725 million for the three months ended June 30, 2009 compared to a net loss of $948 million for the same period in 2008 as growth in noninterest income and net interest income was partially offset by an increase in noninterest expense and higher provision for credit losses. Net interest income grew $577 million, or 93 percent, driven primarily by an increase in average home equity loans and LHFS. The growth in average home equity loans of $38.5 billion, or 42 percent, and a $23.4 billion increase in LHFS were attributable to the Countrywide acquisition as well as increases in our home equity portfolio as a result of line utilization, new production, slower prepayment speeds, and the migration of certain households’ loans from GWIM to the Home Loans & Insurance segment. Noninterest income increased $2.6 billion to $3.3 billion driven by higher mortgage banking income and insurance income. Mortgage banking income grew $2.2 billion due primarily to the Countrywide acquisition. Mortgage banking income also benefited as lower current interest rates drove higher production income. Insurance income increased $440 million due to the Countrywide acquisition. Provision for credit losses increased $692 million to $2.7 billion driven by economic and housing

k k i l l i hi i i hi h l d f lli h i Addi i ll i d imarket weakness particularly in geographic areas experiencing higher unemployment and falling home prices. Additionally, reserves were increased in the Countrywide SOP 03-3 portfolio reflecting a reduction in expected principal cash flows. Noninterest expense increased $2.1 billion to $2.8 billion primarily driven by the Countrywide acquisition.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Home Loans & Insurance recorded a net loss of $1.2 billion compared to a net loss of $1.7 billion for the same period in 2008, as growth in net interest income of $1.2 billion and noninterest income of $5.9 billion were partially offset by higher provision for credit losses of $2.3 billion and an increase in noninterest expense of $4.0 billion. Net interest income grew $1.2 billion to $2.4 billion due to the growth in average home equity loans of $37.9 billion, or 43 percent, and $20.6 billion increase in LHFS. These period-over-period changes were driven by the same factors as described in the three-month discussion above.

(Dollars in millions; except as noted)Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (1) $2,376 $1,170 $1,197 $1,179 $1,006 $1,135 $620Noninterest income:

Six Months EndedJune 30

Mortgage banking income 6,040 1,064 2,637 3,403 1,603 1,755 409 Insurance income 1,134 201 553 581 646 569 113 All other income 134 149 74 60 (2) 15 119

Total noninterest income 7,308 1,414 3,264 4,044 2,247 2,339 641 Total revenue, net of interest expense 9,684 2,584 4,461 5,223 3,253 3,474 1,261

Provision for credit losses 6,098 3,846 2,726 3,372 1,623 818 2,034 Noninterest expense 5,479 1,470 2,829 2,650 2,752 2,741 732

Loss before income taxes (1,893) (2,732) (1,094) (799) (1,122) (85) (1,505) Income tax benefit (1) (670) (1,011) (369) (301) (438) (31) (557)

Net loss $(1,223) $(1,721) $(725) $(498) $(684) $(54) $(948)

Net interest yield (1) 2.51 % 2.39 % 2.43 % 2.60 % 2.31 % 3.05 % 2.47 %Efficiency ratio (1) 56.58 56.91 63.41 50.74 84.59 78.90 58.02

Balance sheet

Average

Total loans and leases $129,110 $89,218 $131,509 $126,685 $122,065 $122,034 $91,199Total earning assets 190,945 98,327 197,758 184,056 173,152 148,209 101,109 Total assets 226,161 102,217 232,194 220,061 204,826 179,998 104,539

Allocated equity 15,118 3,106 15,827 14,403 15,478 16,236 3,342

Period end

Total loans and leases $131,120 $92,064 $131,120 $131,332 $122,947 $122,975 $92,064Total earning assets 197,528 100,910 197,528 184,136 175,609 167,338 100,910 Total assets 234,388 103,765 234,388 221,547 205,046 178,956 103,765

Period end (in billions)M i i f li (2) $ $ $ $ $ $ $

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Mortgage servicing portfolio (2) $2,111.9 $540.8 $2,111.9 $2,112.8 $2,057.3 $2,026.2 $540.8

(1) Fully taxable-equivalent basis (2) Servicing of residential mortgage loans, home equity lines of credit, home equity loans and discontinued real estate mortgage loans.

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

Home Loans & Insurance Financials - Key Indicators

(Dollars in millions, except as noted)

Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Mortgage servicing rights at fair value rollforward:

Beginning balance $12,733 $3,053 $14,096 $12,733 $20,811 $4,250 $3,163Countrywide balance, July 1, 2008 - - - - - 17,188 - Merrill Lynch balance, January 1, 2009 209 - - 209 - - - Additions 2,966 1,035 1,717 1,249 677 875 669

Six Months EndedJune 30

Impact of customer payments (1,988) (430) (803) (1,185) (1,458) (1,425) (233) Other changes in MSR 4,615 592 3,525 1,090 (7,297) (77) 651

Ending balance $18,535 $4,250 $18,535 $14,096 $12,733 $20,811 $4,250

Capitalized mortgage servicing rights (% of loans serviced) 109 bps 145 bps 109 bps 83 bps 77 bps 126 bps 145 bpsMortgage loans serviced for investors (in billions) $1,703 $292 $1,703 $1,699 $1,654 $1,654 $292

Loan production:Home Loans & Insurance

First mortgage $183,154 $36,559 $104,082 $79,072 $42,761 $49,625 $18,515Home equity 5,843 22,818 2,920 2,923 3,920 5,260 8,997

Total CorporationFirst mortgage 195,863 44,360 $110,645 85,218 44,611 51,539 22,438 Home equity 7,688 28,141 3,650 4,038 5,326 7,023 11,500

Mortgage banking incomeProduction income $3,288 $679 $1,651 $1,637 $691 $749 $283Servicing income: Servicing fees and ancillary income 3,032 515 1,515 1,517 1,487 1,526 266 Impact of customer payments (1,978) (430) (793) (1,185) (1,458) (1,425) (233) Fair value changes of MSRs, net of economic hedge results 1,439 300 138 1,301 783 823 93 Other servicing-related revenue 259 - 126 133 100 82 - Total net servicing income 2,752 385 986 1,766 912 1,006 126 Total Home Loans & Insurance mortgage banking income 6,040 1,064 2,637 3,403 1,603 1,755 409 Other business segment mortgage banking income (loss) (199) (174) (110) (89) (80) (81) 30 Total consolidated mortgage banking income $5,841 $890 $2,527 $3,314 $1,523 $1,674 $439

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

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Global Banking

Global Banking provides a wide range of lending-related products and services, integrated working capitalGlobal Banking provides a wide range of lending related products and services, integrated working capital management, treasury solutions and investment banking services to clients worldwide through our network of offices and client relationship teams along with various product partners.

Our clients include multinationals, middle-market and business banking companies, correspondent banks, commercial real estate firms and governments.

Client-facing businesses:

‐ Global Commercial Banking (GCB)

‐ Global Corporate & Investment Banking (GCIB)

Features:

• Our lending products and services include commercial loans and commitment facilities, real estate lending, leasing, trade finance, short-term credit facilities and asset-based lending and indirect consumer loans.

• Our capital management and treasury solutions include treasury management, foreign exchange and short-term investing options.

• Our investment banking services provide our commercial and corporate issuer clients with debt and equity underwriting and distribution capabilities as well as merger-related and other advisory services.

• Our clients are supported in offices throughout the world that are divided into four distinct geographic regions: U S and Canada; Asia; Europe Middle East and Africa; and Latin Americaregions: U.S. and Canada; Asia; Europe, Middle East, and Africa; and Latin America.

Achievements: • Investment Banking Product Rankings (1):

Bank of America Corporation and SubsidiariesInvestment Banking Product RankingsSix months ended June 30, 2009

Global U.S. Product Ranking Market Share Product Ranking Market Share

High-yield corporate debt 1 16% 1 20%Leveraged loans 1 14 1 19Mortgage-backed securities 1 20 1 23Asset-backed securities 2 11 3 13Convertible debt 5 8 3 14Common stock underwriting 5 6 4 12Investment grade corporate debt 4 6 3 14Syndicated loans 5 6 2 20

Figures above include self-led transactions. Excluding self-led deals (1):

‐ Global and U.S. asset-backed securities rankings were #1 - U.S. investment grade corporate debt ranking was #2Global net investment banking revenue ranking was #2 U S announced mergers and acquisitions ranking was #4

Net investment banking revenue 3 7 2 12Announced mergers and acquisitions 5 18 5 37Equity capital markets 4 7 4 12Debt capital markets 3 6 2 14

‐ Global net investment banking revenue ranking was #2 - U.S. announced mergers and acquisitions ranking was #4

(1) Source: Dealogic data. Rankings based on deal volumes except for investment banking revenue rankings which reflect fees. Mergers and acquisitionfees 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 only to the investment bank advising theparent company that is domiciled within that region. Each advisor receives full credit for the deal amount unless advising a minority stakeholder.

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Global Banking

Global Commercial Banking provides mid-size companies with seamless, integrated delivery of all GlobalGlobal Commercial Banking (GCB)Global Commercial Banking provides mid size companies with seamless, integrated delivery of all Global Banking and Global Wealth & Investment Management products and solutions, including credit, treasury solutions and liquidity, investment banking, capital markets, risk management, wealth management and retirement services.

Core businesses and client segments:

‐ Commercial Regions:

Business Banking‐ Business Banking

‐ Middle-Market Banking

‐ Specialized Industries

‐ Commercial Real Estate Banking

‐ Dealer Financial Services

These businesses are supported by product specialists in Commercial Product Delivery, who partner with client managers to provide integrated credit and treasury solutions, including asset-based lending.

Features:

• GCB serves more than 160,000 clients, including one in five companies that have revenues from $2.5 million to $20 million, and one in three companies with revenues between $20 million and $2 billion.

• Business Banking serves companies with annual revenues between $2 5 million and $20 millionBusiness Banking serves companies with annual revenues between $2.5 million and $20 million.

• Middle-Market Banking serves companies with revenues of more than $20 million.

• Specialized Industries provides Healthcare, Not-For-Profit, Education and Government clients with treasury management, bond proceeds solutions, capital raising, and works with various product partners on public finance, interest rate protection, private placements and leasing services.

• Commercial Real Estate Banking provides comprehensive financial solutions for clients in the real estate industry, including public and private Real Estate Investment Trusts, funds, and commercial and residential development companies.

• Dealer Financial Services serves automobile, recreational vehicle and marine dealers as well as retail customers through dealers and our online channel.

Achievements:

• #1 market share in all core businesses• #1 market share in all core businesses

• #1 in syndicated loans to middle-market companies

• #1 lender in asset based lending

• #1 Small Business Administration 504 lender

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Global Banking

GCIB provides large domestic and global corporations and financial institutions with merger and acquisitionGlobal Corporate & Investment Banking (GCIB)GCIB provides large domestic and global corporations and financial institutions with merger and acquisition (M&A) advice, lending, risk management, treasury and liquidity, and payments management and works in close coordination with Global Markets product specialists to provide clients with innovative equity and debt capital raising and financing solutions. GCIB also helps serve individual banking and investment needs through referrals to Global Wealth & Investment Management.

Core businesses:

‐ Global Capital Markets, which jointly reports to Global Marketsp , j y p

‐ Americas Corporate & Investment Banking

‐ International Corporate & Investment Banking

‐ Corporate Finance, Mergers & Acquisitions, and Financial Sponsors

Features:

• Full service integrated Corporate & Investment Banking capabilities with regional and sector coverage• Full service integrated Corporate & Investment Banking capabilities with regional and sector coverage coordinated globally

•Global coverage across industries including:– Consumer & Retail – Energy & Power – Global Industries – Financial Institutions – Healthcare – Real Estate, Gaming & Lodging – Technology, Media & Telecom

• M&A advisory services, debt and equity capital raising capabilities, and corporate banking to deliver i t g t d fi i l l tiintegrated financial solutions

• Clients in over 150 countries through more than 40 offices in the Americas; Europe, Middle East & Africa; and Asia Pacific

Achievements (1):

•#2 in Global Debt, Equity and Equity-Linked Capital Raising in terms of volume#1 i Gl b l L d L– #1 in Global Leveraged Loans

– #1 in Global High-Yield Corporate Debt (2)

– #2 in U.S. Investment Grade Corporate Debt – #4 in Global Equity and Equity-Linked Issuance

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(1) Dealogic; year to date through 06/30/2009

(2) Dealogic; as of 06/30/2009; excluding self-led deals

Global BankingGlobal Corporate & Investment Banking (continued)

Achievements (continued):

•#5 in global announced M&A including some of the most transformative transactions year to date

– Advised on 94 deals valued at $221 billion

– Led Pfizer's $68 billion acquisition of Wyeth (proposed), the largest M&A transaction year to date, and served as Joint Bookrunner for $22.5 billion Bridge Facility and subsequent Global Notes Offerings

– Advised on BankUnited acquisition by a private equity consortium and similar IndyMac transaction, the only FDIC-assisted deals for distressed institutions

– Advised EDF in its £12.6 billion acquisition of British Energy, including creation of Nuclear Power Notes to enhance liquidity for shareholders through deferred cash payments over 10 years

•#1 in Americas and global Financial Sponsor-related transactions, with 16 percent and 13.7 percent market share respectively

– Joint Bookrunner on $749 million Concurrent Common Equity and Convertible Notes Offering for Hertz Global Holdings

– Joint Bookrunner on $545 million in Senior Secured Notes for Univision Communications as well as Joint Lead Arranger in connection with the amendment of the Company's Senior Secured Credit Facility

•Primary lead manager on 54 stock transactions – more than any other bank

– Joint Bookrunner for $400 million Equity Offering and concurrent $403 million Convertible Notes for Johnson Controls Inc.

– Joint Global Coordinator and Joint Bookrunner for $3 billion Rights Issue for Nordea Bank AB

•In top-rated bond deals, Bank of America Merrill Lynch was the lead bank in nine of the ten largest transactions

– Joint Bookrunner on largest healthcare bond offering this year, $16.5 billion of Senior Notes for g g y , $Roche Pharmaceuticals

– Joint Bookrunner on Mizuho Financial Group’s $850 million offering of Perpetual Preferred Securities

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(1) Dealogic; year-to-date through 06/30/2009

(2) Dealogic; as of 06/30/2009; excluding self-led deals

Global Banking

Global Product Solutions (GPS) designs, delivers and services integrated credit and treasury products to moreGlobal Product Solutions (GPS) Global Product Solutions (GPS) designs, delivers and services integrated credit and treasury products to more than 140,000 clients around the world, including small businesses, middle-market and large corporations, multi-nationals, financial institutions and governments.

These solutions, distributed through client managers, include business and corporate lending, global payments and liquidity management, commercial card services, trade finance, foreign exchange, lines of credit and equipment financing solutions.

Core businesses:Core businesses:

‐ Centralized Product Delivery - Global eCommerce and Product Development

‐ Product Management - Client Delivery & Service

‐ Merchant Services - Leasing

‐ Global Securities and Trust Services

Global Corporate & Financial Institutions Product Delivery‐ Global Corporate & Financial Institutions Product Delivery

Features:

• Supports Global Corporate & Investment Banking, Global Commercial Banking, Wealth Management and Consumer clients

• Originates and receives nearly 3 billion electronic payment transactions and deposits an average of 4 billion checks per yearp y

• Provides integrated treasury, liquidity and debt solutions and ongoing portfolio management and credit manufacturing to Global Investment Banking corporate clients and prospects, Financial Institutions and Global Commercial Banking clients

• Underwrites, structures and negotiates treasury and credit client solutions

• Researches current and future client needs to develop industry-leading products

• Works closely with Global Technology & Operations teams to provide effective support to clients

Achievements:

•GPS is the #1 treasury services provider in the U.S. and a leading provider globally, serving 95 percent of U.S. Fortune 500 companies and 73 percent of the Fortune Global 500.

•Ranked as the largest bank-owned equipment finance/leasing company in the U.S.

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Global BankingFinancials - Segment Results

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Net income increased $1.1 billion, or 74 percent, to $2.5 billion due to higher total revenue benefiting from a $3.8 billion pre-tax gain related to the contribution of the merchant processing business into a joint venture. This increase in revenue was partially offset by increases in provision for credit losses and noninterest expense. Net interest income increased $221 million, or nine percent, driven by average deposit growth of $30.1 billion or 18 percent, and average loan growth of $7.9 billion, or three percent. The increase in average deposits was driven by organic growth benefiting from a flight-to-quality in late 2008. The increase in average loans and leases was driven by the acquisition of Merrill Lynch, partially offset by decreased client demand due to current economic conditions. Net interest income also benefited from improved loan spreads on new, renewed or amended facilities. These increases were partially offset by spread compression on deposits, lower residual net interest income allocation related to ALM activities, and the negative impact of increased nonperforming loans. Noninterest income increased $4.0 billion to $5.9 billion, mainly driven by the gain related to the contribution of the merchant processing business into a joint venture and higher investment banking income. Investment banking income i d $407 illi d h i i i f M ill L h d h i d b d i i l k f Th i i f di lincreased $407 million due to the acquisition of Merrill Lynch and strong growth in debt and equity capital markets fees. The provision for credit losses increased $2.2 billion to $2.6 billion driven by reserve increases and higher net charge-offs within the commercial-domestic portfolio, which were across a broad range of borrowers and industries. Also contributing to the increase were higher net charge-offs and reserve increases within the commercial real estate portfolio for deterioration across various property types. Noninterest expense increased $485 million, or 28 percent, primarily attributable to higher FDIC expenses including the special assessment and the impact of the Merrill Lynch acquisition. These items were partially offset by decreased personnel expense.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Net income increased $203 million, or eight percent, due to higher total revenue of $4.9 billion which was largely offset by increases in provision for credit losses of $3.5 billion and noninterest expense of $1.3 billion. These period-over-period changes were driven by the same factors as described in the three-month discussion above. In addition, noninterest income and noninterest expense were adversely impacted by the absence of the gain and related benefits associated with the Visa IPO.

(Dollars in millions) Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (1) $5,553 $4,863 $2,738 $2,815 $3,100 $2,734 $2,517Noninterest income:

Service charges 1,851 1,580 909 942 809 820 824Investment banking income 1,436 740 792 644 422 252 385 All other income (loss) 4 458 1 171 4 219 239 (328) 428 729

Six Months EndedJune 30

All other income (loss) 4,458 1,171 4,219 239 (328) 428 729Total noninterest income 7,745 3,491 5,920 1,825 903 1,500 1,938 Total revenue, net of interest expense 13,298 8,354 8,658 4,640 4,003 4,234 4,455

Provision for credit losses 4,432 926 2,584 1,848 1,402 802 400 Noninterest expense 4,747 3,494 2,232 2,515 1,113 1,767 1,747

Income before income taxes 4,119 3,934 3,842 277 1,488 1,665 2,308Income tax expense (1) 1,460 1,478 1,355 105 378 621 875

Net income $2,659 $2,456 $2,487 $172 $1,110 $1,044 $1,433

Net interest yield (1) 3.32 % 3.09 % 3.30 % 3.35 % 3.61 % 3.32 % 3.15 %Return on average equity 9.17 10.27 16.50 1.23 8.34 8.36 11.85 Efficiency ratio (1) 35 70 41 82 25 78 54 21 27 83 41 73 39 24Efficiency ratio 35.70 41.82 25.78 54.21 27.83 41.73 39.24

Balance sheet

AverageTotal loans and leases $327,074 $310,603 $323,217 $330,974 $331,115 $320,813 $315,282Total earning assets 336,832 316,941 332,589 341,122 341,453 327,517 321,385 Total assets 393,483 372,994 389,387 397,625 396,406 383,913 378,233 Total deposits 197,981 165,232 199,879 196,061 198,246 176,570 169,738 Allocated equity 58,490 48,099 60,455 56,503 52,941 49,644 48,634

Period endTotal loans and leases $314,512 $322,675 $314,512 $323,407 $328,574 $326,970 $322,675T t l i g t 323 743 329 265 323 743 333 226 338 913 338 405 329 265Total earning assets 323,743 329,265 323,743 333,226 338,913 338,405 329,265 Total assets 381,123 386,525 381,123 387,410 393,430 396,448 386,525 Total deposits 201,207 173,576 201,207 194,864 214,755 194,462 173,576

(1) Fully taxable-equivalent basis

Components of Investment Banking Income(Dollars in millions) Second First Fourth Third Second

Quarter Quarter Quarter Quarter Quarter2009 2008 2009 2009 2008 2008 2008

Investment banking incomeAdvisory (1) $621 $253 $292 $329 $184 $109 $160Debt issuance 1 599 828 944 655 379 332 496

Six Months EndedJune 30

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Debt issuance 1,599 828 944 655 379 332 496 Equity issuance 665 350 508 157 224 50 110

Total Global Markets and Investment Banking 2,885 1,431 1,744 1,141 787 491 766 Other (2) (184) (260) (98) (86) (169) (17) (71)

Total investment banking income $2,701 $1,171 $1,646 $1,055 $618 $474 $695

(1) Advisory includes fees on debt and equity advisory and merger and acquisitions.(2) Represents the offset to fees paid on the Corporation's own issuances.

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

Global Banking Financials - Key Indicators

(Dollars in millions)Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Global Banking revenue, net of interest expense

Global commercial banking $9,480 $5,637 $6,692 $2,788 $2,861 $2,865 $2,923Global corporate and investment banking 3,818 2,717 1,966 1,852 1,142 1,369 1,532

Total revenue, net of interest expense (1) $13,298 $8,354 $8,658 $4,640 $4,003 $4,234 $4,455

Global Banking revenue, net of interest expense - by service segment

Six Months EndedJune 30

Business lending $4,748 $3,769 $2,317 $2,431 $2,191 $2,020 $2,155Treasury services 7,278 4,258 5,505 1,773 2,152 2,105 2,018 Investment banking related (2) 1,272 327 836 436 (340) 109 282

Total revenue, net of interest expense (1) $13,298 $8,354 $8,658 $4,640 $4,003 $4,234 $4,455

Global Banking average deposit balancesGlobal commercial banking $123,514 $104,041 $127,133 $119,853 $118,415 $107,142 $107,944Global corporate and investment banking 74,467 61,191 72,746 76,208 79,831 69,428 61,794

Total $197,981 $165,232 $199,879 $196,061 $198,246 $176,570 $169,738

Interest-bearing $82,773 $86,456 $79,060 $86,527 $100,259 $89,217 $88,130Noninterest bearing 115 208 78 776 120 819 109 534 97 987 87 353 81 608Noninterest-bearing 115,208 78,776 120,819 109,534 97,987 87,353 81,608

Total $197,981 $165,232 $199,879 $196,061 $198,246 $176,570 $169,738

Global Banking loan spreadsGlobal commercial banking 1.90 % 1.75 % 1.96 % 1.83 % 1.85 % 1.74 % 1.71 %Global corporate and investment banking 1.54 0.65 1.56 1.54 1.17 0.72 0.64

Provision for credit lossesGlobal commercial banking $3,549 $941 $1,992 $1,557 $1,037 $671 $449Global corporate and investment banking 883 (15) 592 291 365 131 (49)

Total provision for credit losses $4,432 $926 $2,584 $1,848 $1,402 $802 $400

Credit quality (3, 4)

Reservable utilized criticized exposureGlobal commercial banking $38,648 $19,907 $38,648 $33,465 $27,225 $23,020 $19,907

16.88 % 8.76 % 16.88 % 14.36 % 11.63 % 9.93 % 8.76 %Global corporate and investment banking $12,034 $4,426 $12,034 $9,995 $7,292 $5,782 $4,426

10.59 % 3.69 % 10.59 % 8.45 % 5.91 % 4.63 % 3.69 %Total reservable utilized criticized exposure $50,682 $24,333 $50,682 $43,460 $34,517 $28,802 $24,333

14.79 % 7.01 % 14.79 % 12.37 % 9.66 % 8.07 % 7.01 %

Nonperforming assetsGlobal commercial banking $9,357 $3,639 $9,357 $8,077 $5,643 $4,335 $3,639

4.24 % 1.61 % 4.24 % 3.60 % 2.50 % 1.93 % 1.61 %Global corporate and investment banking $1,346 $191 $1,346 $879 $736 $444 $191

1.43 % 0.20 % 1.43 % 0.88 % 0.71 % 0.43 % 0.20 %Total nonperforming assets $10,703 $3,830 $10,703 $8,956 $6,379 $4,779 $3,830

3.40 % 1.19 % 3.40 % 2.77 % 1.94 % 1.46 % 1.19 %

Average loans and leases by productCommercial - domestic $169,583 $158,511 $164,673 $174,548 $175,260 $163,886 $161,013Commercial real estate 63 576 59 601 64 609 62 532 61 395 60 196 59 909Commercial real estate 63,576 59,601 64,609 62,532 61,395 60,196 59,909 Commercial lease financing 24,262 24,276 24,208 24,316 24,324 24,574 24,287 Commercial - foreign 26,946 26,799 27,051 26,840 28,546 28,429 27,895 Direct/Indirect consumer 41,217 39,554 41,233 41,201 40,144 42,205 40,344 Other 1,490 1,864 1,443 1,537 1,446 1,523 1,834

Total average loans and leases $327,074 $310,603 $323,217 $330,974 $331,115 $320,813 $315,282

(1) Total Global Banking revenue, net of interest expense $13,298 $8,354 $8,658 $4,640 $4,003 $4,234 $4,455 Less: Fair value option revenue share 104 5 242 (138) (291) (13) 61 Less: Impact of credit mitigation (121) 64 (121) - 221 24 (5) Global banking revenues, net of interest expense excluding fair value option revenue share and credit mitigation $13,315 $8,285 $8,537 $4,778 $4,073 $4,223 $4,399

64

(2) Includes revenue and loss sharing with Global Markets for certain activities and positions.(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 assets are on an end-of-period basis and defined as nonperforming loans and leases plus foreclosed properties. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.

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

Global Markets

Following the merger with Merrill Lynch the Global Markets business acquired extensive global reach and Following the merger with Merrill Lynch, the Global Markets business acquired extensive global reach and broader capabilities across all product areas, particularly in Equities and Commodities. The business strategy centers on delivering best-in-class sales, trading, and research products and services to our investor clients, as well as providing risk management tools and capital raising expertise and execution to issuer clients.

Closely aligned with GCIB’s client-managed groups, Global Markets product specialists serve more than 3,000 institutional investors, including asset managers, banks, hedge funds, insurance companies and g g g ppension funds, and more than 10,000 issuer clients, including middle-market and large corporations, financial institutions and government entities.

Core businesses:

‐ Global Capital Markets, which jointly reports into Global Banking

‐ Global Commodities - Global Credit Products

Gl b l Di t d Gl b l E iti‐ Global Distressed - Global Equities

‐ Global Mortgages & Securitized Products - Global Proprietary Trading

‐ Global Rates & Currencies - Global Research

‐ Global Sales

Features:

•Global Capital Markets advises, structures and underwrites capital raising transactions in the equity and debt capital markets on behalf of issuer clients.

•Global Commodities structures and trades natural gas and power, crude oil, refined products, coal, emissions, metals, structured notes and commodity indices.

•Global Credit Products trades cash and derivative credit products and also underwrites and trades U.S. municipal securities.

•Global Distressed trades distressed securities and loans, par loans and structured credit products.

•Global Equities is a full-service provider of sales, trading and salestrading services for cash equities, equity derivatives and convertibles, and offers prime brokerage services and electronic execution globally.

•Global Mortgages & Securitized Products is a leading market-maker and underwriter of asset and mortgage backed securities.

•Global Proprietary Trading engages in principal transactions across a range of securities worldwide.Global Proprietary Trading engages in principal transactions across a range of securities worldwide.

•Global Rates & Currencies trades all rates and currency products, repurchase agreements and futures, and provides electronic trading services.

•Global Sales provides institutional investors with investment insights and ideas along with access to the company’s trading desks and award-winning research.

•Global Research:

Global Equity Research analysts provide fundamental analysis on nearly 3 000 companies domiciled in 50 – Global Equity Research analysts provide fundamental analysis on nearly 3,000 companies domiciled in 50 countries.

– Global Credit Research encompasses high grade, high-yield, credit strategy, credit derivatives, mortgages and other structured finance, convertibles, municipals and indices.

– Global Macro Research encompasses economics, currencies, commodities, rates, derivatives and equity investment strategies.

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Global Markets

Achievements (continued):Achievements (continued):

• #1 in Global and U.S. high-yield debt (1)

• #1 in Global and U.S. leveraged loans (1)

• #1 in Global and U.S. asset backed securities (2)

• #1 in Global and U.S. mortgage backed securities (1)

• #2 in U.S. investment grade corporate debt (2)

• #2 in U S public finance (3)• #2 in U.S. public finance (3)

• #2 in U.S. syndicated loans (1)

• #2 in Global equity and equity-linked (1)

• #3 in U.S. convertible debt (1)

• #1 in U.S. Equity Trading Market Penetration (4)

• #1 in U.S. Equity Trading Coverage in five of eight sectors (4)

• #1 European Equity Trading Share with U K clients (4)• #1 European Equity Trading Share with U.K. clients ( )

• #1 in European Equity Derivatives, Sales and Sector Research (5)

• #1 in Pan-European Sales, Specialist Sales and Research (6)

• #1 U.K./Pan-European market share (7)

• More than 60 Best-in-Class awards for Global Prime Brokerage (8)

• #1 in Trading Capability & Overall Quality for U.S. Investors in Japanese Equities (4)

• Named U.S. Leveraged Finance House of the Year by International Financing Review (Banc of AmericaNamed U.S. Leveraged Finance House of the Year by International Financing Review (Banc of America Securities award)

• Named Best Equity House in Western Europe by Euromoney (July 2009)• Named North American Debt House of the Year by Global Finance (June 2009)• Named Best Overall ECP Dealer and Best USD ECP Dealer by Capital Market Daily (April 2009)• Named Korea Debt House by Euromoney (March 2009) and by The Asset (December 2008)

Research:Research:• #1 ranked research provider (4)

• Financial Times Starmine Awards – #1 ranked Global Broker, #1 U.S. Broker; #2 Europe Broker and #5 Pan-Asia Broker; received 42 individual analyst awards

• Wall Street Journal – “Best on the Street Stock Picking” Award - #3 in the U.S.; 17 ranked analysts• Forbes/Zacks – Best Brokerage for stock picking and estimate accuracy. Captured more than twice the

awards of the runner-up. Seven out of 12 analysts named to “Dazzling Dozen”• Thomson Reuters Extel Survey – #1 for Pan-European Equity Sectors Research; #2 for Pan-European

Equity & Equity-Linked Research; #2 for Continental European Small & Mid Caps Research• Institutional Investor :

– Ranked #3 in 2008 All-America Equity Research Team Survey (Merrill Lynch ranking)– Ranked #3 in 2008 All-America Fixed-Income Research Team Survey (Banc of America Securities ranking)– Ranked #2 in the 2009 All-Europe Research team survey and ranked #1 for Pan-European coverage – Ranked #3 in 2009 for Emerging EMEA coverage– Ranked #3 in the 2008 All-Latin America Survey (Merrill Lynch ranking)

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(1) Dealogic; as of 06/30/2009; equity and equity-linked by number of deals(2) Dealogic; as of 06/30/2009; excluding self-led deals(3) Thomson; as of 06/30/2009(4) Independent Research Consulting Firm

(5) Extel(6) Institutional Investor(7) Tabb Group(8) Global Custodian

Global Markets Financials - Segment Results

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Net income increased $1.1 billion to $1.4 billion as increased noninterest income and market-based net interest income were partially offset by higher noninterest expense. Net interest income, almost all of which is market-based, increased $310 million, or 26 percent, due to growth in market-based earning assets primarily due to the acquisition of Merrill Lynch. Noninterest income increased $2.8 billion due to the Merrill Lynch acquisition and favorable core trading results partially offset by a negative credit valuation adjustment on derivative liabilities of $1.6 billion due to our credit spreads tightening. In addition, we incurred market disruption charges of $1.3 billion, of which $935 million was included in Global Markets as compared to $1.2 billion for the same period in 2008 of which $1.1 billion was recorded in Global Markets. Partially offsetting these favorable results in our trading business was an increase in noninterest expense of $1.6 billion that was largely attributable to the Merrill Lynch acquisition and an increase in incentive compensation expense due to improved revenue performance.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Net income was $3.8 billion compared to a net loss of $691 million for the same period in 2008. This period-over-period change was driven by the same factors as described in the three-month discussion above. Market disruption charges were $3.0 billion, of which $2.5 billion were included in Global Markets as compared to $4.0 billion for the same period in 2008 of which $3.6 billion was recorded in Global Markets. In addition, credit valuation adjustments on derivative liabilities were relatively flat for the six months ended June 30, 2009.

(Dollars in millions) Second First Fourth Third Second

Quarter Quarter Quarter Quarter Quarter2009 2008 2009 2009 2008 2008 2008

Six Months Ended

June 30

Net interest income (1) $3,396 $2,332 $1,507 $1,889 $1,528 $1,285 $1,197Noninterest income:

Investment and brokerage services 1,415 406 831 584 150 195 186Investment banking income 1,306 690 821 485 365 240 380 Trading account profits (losses) 6,935 (1,419) 2,014 4,921 (3,891) (499) 183 All other income (loss) (1,701) (1,472) (721) (980) (2,717) (1,072) (568)

Total noninterest income (loss) 7,955 (1,795) 2,945 5,010 (6,093) (1,136) 181 Total revenue, net of interest expense 11,351 537 4,452 6,899 (4,565) 149 1,378

Provision for credit losses 50 (39) (1) 51 13 (24) (38) Noninterest expense 5,615 1,680 2,559 3,056 1,105 1,120 951

Income (loss) before income taxes 5,686 (1,104) 1,894 3,792 (5,683) (947) 465Income tax expense (benefit) (1) 1,874 (413) 517 1,357 (2,043) (352) 167

Net income (loss) $3,812 $(691) $1,377 $2,435 $(3,640) $(595) $298

Return on average equity 26.38 % n/m 17.81 % 36.26 % n/m n/m 9.90 %Efficiency ratio (1) 49.46 n/m 57.46 44.30 n/m n/m 69.04

Sales and trading revenueFixed income, currency and commodities $7,488 $(1,142) $2,685 $4,803 $(5,825) $(653) $661Equity income 2,614 583 1,165 1,449 (17) 176 276

Total sales and trading revenue (2) $10,102 $(559) $3,850 $6,252 $(5,842) $(477) $937

Balance sheet

AverageTotal trading-related assets (3) $520,339 $345,118 $503,688 $537,176 $315,125 $347,088 $332,748Total market-based earning assets 482,356 381,048 475,761 489,024 311,782 370,146 367,193 Total earning assets 493,789 386,286 485,151 502,524 317,636 375,009 372,510 Total assets 692,593 445,251 670,703 714,726 390,274 430,539 429,854 Allocated equity 29,139 11,786 31,022 27,235 15,156 12,035 12,088

Period endTotal trading-related assets (3) $434,967 $299,828 $434,967 $440,839 $244,174 $275,703 $299,828Total market-based earning assets 400,534 329,394 400,534 381,087 237,618 282,475 329,394 Total earning assets 408,942 334,700 408,942 392,324 243,275 288,107 334,700 T t l t 571 761 388 451 571 761 583 416 306 693 350 326 388 451Total assets 571,761 388,451 571,761 583,416 306,693 350,326 388,451

Trading-related assets (average)Trading account securities $204,005 $184,390 $190,524 $217,636 $167,463 $186,455 $180,540Reverse repurchases 137,784 53,405 139,358 136,192 53,193 62,767 51,257 Securities borrowed 69,925 72,290 72,078 67,749 42,580 62,982 65,741 Derivative assets 108,625 35,034 101,728 115,599 51,889 34,884 35,210

Total trading-related assets (3) $520,339 $345,119 $503,688 $537,176 $315,125 $347,088 $332,748

(1) Fully taxable-equivalent basis(2) Sales and trading revenue represents total Global Markets revenue, net of interest expense as adjusted by the following items:Total Global Markets revenue, net of interest expense $11,351 $537 $4,452 $6,899 $(4,565) $149 $1,378

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Investment banking income (1,306) (690) (821) (485) (365) (240) (380) Fair value option net interest income (135) (56) (70) (65) (43) (31) (25) Revenue (loss) shared 139 (350) 269 (130) (869) (131) (36) (Gain) loss on sale of prime brokerage business 53 - 20 33 - (224) - Total sales and trading revenue $10,102 $(559) $3,850 $6,252 $(5,842) $(477) $937(3) Includes assets which are not considered earning assets (i.e. derivative assets).n/m = not meaningful

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

Global Wealth & Investment Management

Global Wealth & Investment Management (GWIM) provides a wide offering of customized banking, investmentGlobal Wealth & Investment Management (GWIM) provides a wide offering of customized banking, investment and brokerage services tailored to meet the changing wealth management needs of our individual and institutional customer base. Our clients have access to a range of services offered through three primary businesses (below).

Core Businesses:

‐ Columbia Management Group, LLC (Columbia Management)

‐ Merrill Lynch Global Wealth Management (ML GWM)

‐ U.S. Trust, Bank of America Private Wealth Management (U.S. Trust)

Features:

• Supported by the Bank of America consumer franchise with over 6,100 banking centers, nearly 18,500 ATMs, and award-winning online banking with nearly 29 million active users.

•Global Wealth & Investment Management strives to capture the potential presented by the Merrill Lynch acquisition by, among other things:

– Providing ML GWM capabilities to U.S. Trust and vice versa – Introducing Global Commercial Banking (GCB) capabilities to ML GWM clients – Offering new banking capabilities for ML GWM brokerage clients and additional ML GWM capabilities

and coverage for legacy Bank of America banking and Banc of America Investment Services, Inc. – Leveraging Institutional Retirement capabilities for our GCB clients, and capturing the downstream

opportunities of the Institutional Retirement, Philanthropy & Investments business for U.S. Trust and ML GWM

•Columbia Management is an asset management business serving the needs of both institutional clients and individual customers. Columbia Management provides asset management products and services, including mutual funds and separate accounts. Columbia Management mutual fund offerings provide a broad array of investment strategies and products including equity, fixed income (taxable and nontaxable) and money market (taxable and nontaxable) funds Columbia Management distributes its products and services tomarket (taxable and nontaxable) funds. Columbia Management distributes its products and services to institutional clients and individuals directly through Merrill Lynch Global Wealth Management (ML GWM), U.S. Trust, Global Banking and nonproprietary channels including other brokerage firms.

•Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined the Merrill Lynch wealth management business and our former Premier Banking & Investments business to form ML GWM. ML GWM provides a high-touch client experience through a network of approximately 15,000 client-facing financial advisors to our affluent customers with a personal wealth profile of at least $250,000 of investable assets. The addition of Merrill Lynch created one of the largest financial advisory networks in the world.y g y

•U.S. Trust provides comprehensive wealth management solutions to wealthy and ultra-wealthy clients with investable assets of more than $3 million. In addition, U.S. Trust provides resources and customized solutions to help meet clients’ wealth structuring, investment management, trust and banking needs as well as specialty asset management services (oil and gas, real estate, farm and ranch, timberland, private business and tax advisory). Clients also benefit from access to resources available through Bank of America Corporation and its subsidiaries (the Corporation) including capital markets products, large and complex financing solutions, and its extensive banking platform.

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Global Wealth & Investment Management

Achievements:

• 27 of Barron’s 2009 “Top 100 Financial Advisors” from Merrill Lynch, Banc of America Investment Services, Inc. (BAI) and U.S. Trust (1)

• #1 in Global Top 20 by Assets Under Management (as of end of first quarter 2009) (2)

• Global Wealth & Investment Management total client assets: $1.8 trillion (for the combined organization as of June 30, 2009) (3)

(1) As published in Barron’s April 20, 2009 issue

(2) Scorpio Partnership Private Banking Benchmark © Scorpio Partnership, 2009. Figures are for the private banking unit of the Global Wealth and Investment Management segment. Bank of America acquired Merrill Lynch on January 1, 2009 and merged the private banking units of the two banks under the Global Wealth Management banner. The AUM figure relates to the combined operation as of the end of first quarter 2009. Reported figure includes assets for the following units: U.S. Trust, Global Wealth Advisors (mostly former Merrill Lynch non-brokerage assets), International Wealth Management and Client Brokerage Assets.

(3) Source: Bank of America Global Wealth and Investment Management (GWIM) is the wealth and investment management division of Bank of(3) Source: Bank of America. Global Wealth and Investment Management (GWIM) is the wealth and investment management division of Bank of America Corporation. As of June 30, 2009 GWIM entities had total client assets of $1.8 trillion. Total Client Assets consists of assets under management (AUM) of GWIM entities, client brokerage assets, and assets in custody of GWIM entities, less an elimination for client brokerage and assets in custody included in AUM.

Global Wealth & Investment Management is a division of Bank of America Corporation. Banc of America Investment Services, Inc.®, U.S. Trust, Bank of America Private Wealth Management and Columbia Management are all affiliates within Global Wealth & Investment Management.

Banking products are provided by Bank of America, N.A., Member FDIC.

I t t d tInvestment products:

Banc of America Investment Services, Inc. is a registered broker-dealer, member FINRA and SIPC, and a nonbank subsidiary of Bank of America, N.A.

U.S. Trust, Bank of America Private Wealth Management operates through Bank of America, N.A. and other subsidiaries of Bank of America Corporation. Bank of America, N.A., Member FDIC.

Columbia Management Group, LLC (“Columbia Management”) is the investment management division of Bank of America Corporation. Columbia

Are Not FDIC Insured May Lose Value Are Not Bank Guaranteed

Management entities furnish investment management services and products for institutional and individual investors. Columbia Funds are distributed by Columbia Management Distributors, Inc., member FINRA and SIPC. Columbia Management Distributors, Inc. is part of Columbia Management and an affiliate of Bank of America Corporation.

Merrill Lynch, Pierce, Fenner & Smith Incorporated is a registered broker-dealer and a wholly owned subsidiary of Bank of America Corporation.

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Global Wealth & Investment Management Financials - Segment Results

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Net income decreased $140 million to $441 million as increases in net interest income and noninterest income were more than offset by increases in noninterest expense and provision for credit losses. Net interest income increased $142 million, or 12 percent, to $1.3 billion primarily due to the acquisition of Merrill Lynch partially offset by lower residual net interest income allocation from ALM activities and the impact of the transfer of client balances during the first half of 2009 to Deposits and Home Loans & Insurance. GWIM’s average loan and deposit growth benefited from the acquisition of Merrill Lynch and organic growth partially offset by the net migration of customer relationships. Noninterest income increased $1.8 billion to $2.9 billion primarily due to higher investment and brokerage services income driven by the Merrill Lynch acquisition as well as lower support provided to certain cash funds partially offset by the impact of lower equity market levels and net outflows primarily in the cash complex. Provision for credit losses increased $119 million to $238 million as a result of increased credit costs related to the consumer real estate portfolio. Also contributing to this increase were additions to reserves and higher charge-offs in the commercial-domestic portfolio. Noninterest expense increased $2.1 billion to $3 3 billi d i b h ddi i f M ill L h d hi h FDIC i l di i l$3.3 billion driven by the addition of Merrill Lynch and higher FDIC expenses, including a special assessment.

Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Net income increased $126 million, or 15 percent, to $951 million driven by increases of $3.5 billion in noninterest income and $779 million in net interest income partially offset by increases of $4.0 billion in noninterest expense and $130 million in provision for credit losses. These period-over-period changes were driven by the same factors as discussed in the three-month discussion above.

(Dollars in millions except as noted) Second First Fourth Third SecondSix Months Ended(Dollars in millions, except as noted) Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (2) $2,946 $2,167 $1,291 $1,655 $1,343 $1,265 $1,149Noninterest income:

Investment and brokerage services 4,540 2,176 2,230 2,310 880 1,002 1,095All other income (loss) 1,073 (106) 675 398 (238) (703) 51

Total noninterest income 5,613 2,070 2,905 2,708 642 299 1,146 Total revenue, net of interest expense 8,559 4,237 4,196 4,363 1,985 1,564 2,295

Provision for credit losses 492 362 238 254 152 150 119N i 6 594 2 555 3 304 3 290 1 069 1 286 1 244

Six Months EndedJune 30

Noninterest expense 6,594 2,555 3,304 3,290 1,069 1,286 1,244Income before income taxes 1,473 1,320 654 819 764 128 932

Income tax expense (2) 522 495 213 309 236 51 351Net income $951 $825 $441 $510 $528 $77 $581

Net interest yield (2) 2.67 % 2.88 % 2.54 % 2.77 % 3.03 % 3.09 % 2.96 %Return on average equity 10.70 14.21 9.45 12.09 17.84 2.61 19.84 Efficiency ratio (2) 77.04 60.31 78.74 75.41 53.85 82.22 54.21

Balance sheet

AverageAverageTotal loans and leases $106,117 $86,609 $101,748 $110,535 $88,876 $88,255 $87,574Total earning assets (3) 222,775 151,385 203,528 242,236 176,208 162,858 156,232 Total assets (3) 258,260 161,016 238,609 278,130 184,649 172,312 165,682 Total deposits 231,853 152,808 214,111 249,792 171,340 160,999 157,113 Allocated equity 17,918 11,673 18,708 17,119 11,767 11,677 11,775

Period endTotal loans and leases $100,878 $88,172 $100,878 $102,766 $89,401 $89,004 $88,172Total earning assets (3) 202,287 157,334 202,287 237,739 178,240 169,582 157,334 Total assets (3) 232 913 167 197 232 913 268 133 187 994 179 346 167 197Total assets 232,913 167,197 232,913 268,133 187,994 179,346 167,197 Total deposits 206,296 158,228 206,296 241,504 175,107 166,273 158,228

Client assets Assets under management $705,216 $589,459 $705,216 $697,371 $523,159 $564,438 $589,459Client brokerage assets (4) 1,164,171 210,701 1,164,171 1,102,633 172,106 196,566 210,701 Assets in custody 252,830 156,530 252,830 234,361 133,726 150,575 156,530 Less: Client brokerage assets and assets in custody included in assets under management (297,869) (89,234) (297,869) (279,130) (78,487) (82,921) (89,234)

Total net client assets $1,824,348 $867,456 $1,824,348 $1,755,235 $750,504 $828,658 $867,456

(1) GWIM services clients through three primary businesses: Merrill Lynch Global Wealth Management (MLGWM) U S Trust Bank of America Private Wealth Management (U S Trust) and

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(1) GWIM services clients through three primary businesses: Merrill Lynch Global Wealth Management (MLGWM), U.S. Trust, Bank of America Private Wealth Management (U.S. Trust), and Columbia Management (Columbia). (2) Fully taxable-equivalent basis(3) Total earning assets and total assets include asset allocations to match liabilities (i.e., deposits).(4) Client brokerage assets include non-discretionary brokerage and fee-based assets.

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

Global Wealth & Investment Management Financials - Business Results

(Dollars in millions)

Merrill LynchGlobal Wealth Columbia

Total Management (1, 2) U.S. Trust Management Other (3)

Net interest income (4) $2,946 $2,462 $689 $22 $(227)Noninterest income:

Investment and brokerage services 4,540 2,968 648 531 393

Six Months Ended June 30, 2009

All other income (loss) 1,073 903 25 (69) 214 Total noninterest income 5,613 3,871 673 462 607 Total revenue, net of interest expense 8,559 6,333 1,362 484 380

Provision for credit losses 492 377 115 - - Noninterest expense 6,594 4,748 994 454 398

Income (loss) before income taxes 1,473 1,208 253 30 (18) Income tax expense (benefit) (4) 522 447 94 11 (30)

Net income $951 $761 $159 $19 $12

(4)Net interest yield (4) 2.67 % 2.62 % 2.62 % n/m n/mReturn on average equity 10.70 20.93 6.44 5.17 % n/mEfficiency ratio (4) 77.04 74.96 73.01 n/m n/mAverage - total loans and leases $106,117 $53,235 $52,867 n/m n/mAverage - total deposits 231,853 194,057 37,768 n/m n/mPeriod end - total assets (5) 232,913 183,907 56,738 $2,647 n/m

Merrill LynchGlobal Wealth Columbia

Total Management (1, 2) U S Trust Management Other

Six Months Ended June 30, 2008

Total Management (1, 2) U.S. Trust Management Other Net interest income (4) $2,167 $1,471 $694 $(6) $8Noninterest income:

Investment and brokerage services 2,176 521 767 801 87 All other income (loss) (106) 114 34 (255) 1

Total noninterest income 2,070 635 801 546 88 Total revenue, net of interest expense 4,237 2,106 1,495 540 96

Provision for credit losses 362 352 10 - - Noninterest expense 2,555 919 968 611 57

Income (loss) before income taxes 1 320 835 517 (71) 39Income (loss) before income taxes 1,320 835 517 (71) 39 Income tax expense (benefit) (4) 495 309 191 (26) 21

Net income (loss) $825 $526 $326 $(45) $18

Net interest yield (4) 2.88 % 2.50 % 2.82 % n/m n/mReturn on average equity 14.21 31.39 14.23 (17.08) % n/mEfficiency ratio (4) 60.31 43.61 64.81 n/m n/mAverage - total loans and leases $86,609 $37,093 $49,491 n/m n/mAverage - total deposits 152,808 116,849 35,557 n/m n/mPeriod end - total assets (5) 167,197 124,819 56,562 $2,819 n/m

(1) MLGWM includes the net impact of migrating customers and their related deposit balances between MLGWM and Deposits. After migration, the associated net interest income, service charges and noninterest expense are recorded in the appropriate segment. During the six months ended June 30, 2009, a total of $40.5 billion of deposits migrated to Deposits from MLGWM. During the six months ended June 30, 2008, a total of $12.7 billion of deposits migrated from Deposits to MLGWM.(2) Effective January 1, 2009, as a result of the Merrill Lynch acquisition, we combined Merrill Lynch's wealth management business and our former Premier Banking & Investment business to form MLGWM.(3) Other includes the results of the Institutional Retirement, Philanthropy & Investments business, the Corporation's approximately 50 percent economic ownership of BlackRock and other administrative items.(4) Fully taxable-equivalent basis(5) Total assets include asset allocations to match liabilities (i.e., deposits).n/m = not meaningful

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

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

Global Wealth & Investment ManagementFinancials - Key Indicators

(Dollars in millions, except as noted)Second First Fourth Third SecondSix Months Ended Second First Fourth Third Second

Quarter Quarter Quarter Quarter Quarter2009 2008 2009 2009 2008 2008 2008

Investment and Brokerage ServicesMerrill Lynch Global Wealth Management

Asset management fees $1,499 $172 $713 $786 $75 $84 $84Brokerage income 1,469 349 716 753 163 157 179

Total $2,968 $521 $1,429 $1,539 $238 $241 $263

U.S. TrustAsset management fees $632 $742 $325 $307 $292 $317 $375Brokerage income 16 25 6 10 12 11 13

Total $648 $767 $331 $317 $304 $328 $388

Columbia Management

Six Months Ended

June 30

Columbia ManagementAsset management fees $530 $799 $270 $260 $301 $394 $402Brokerage income 1 2 1 - - - 1

Total $531 $801 $271 $260 $301 $394 $403

OtherAsset management fees $235 $87 $116 $119 $37 $39 $41Brokerage income 158 - 83 75 - - -

Total $393 $87 $199 $194 $37 $39 $41

Total Global Wealth & Investment ManagementAsset management fees $2,896 $1,800 $1,424 $1,472 $705 $834 $902Brokerage income 1,644 376 806 838 175 168 193

Total investment and brokerage services $4,540 $2,176 $2,230 $2,310 $880 $1,002 $1,095

Assets Under Management

Assets under management by business:Merrill Lynch Global Wealth Management $239,888 $22,404 $239,888 $219,658 $16,682 $20,246 $22,404U.S. Trust 180,902 210,969 180,902 179,142 178,657 199,682 210,969 Columbia Management 331,810 422,827 331,810 340,692 386,473 407,345 422,827

Institutional Retirement, Philanthropy & Investments 39,298 45,907 39,298 45,304 33,498 39,547 45,907 Eliminations (1) (86,811) (113,001) (86,811) (87,550) (92,298) (102,621) (113,001) International Wealth Management 129 353 129 125 147 239 353

Total assets under management $705,216 $589,459 $705,216 $697,371 $523,159 $564,438 $589,459

Assets under management rollforward:Beginning balance $523,159 $643,531 $697,371 $523,159 $564,438 $589,459 $607,521Merrill Lynch balance, January 1, 2009 246,292 - - 246,292 - - - Net flows (70,306) (18,876) (27,071) (43,235) 12,596 7,477 (12,611)Market valuation/other 6,071 (35,196) 34,916 (28,845) (53,875) (32,498) (5,451)

Ending balance $705,216 $589,459 $705,216 $697,371 $523,159 $564,438 $589,459

Assets under management mix:Money market/other $215,637 $225,887 $215,637 $244,577 $253,310 $238,075 $225,887Fixed income 204,974 107,687 204,974 198,177 102,747 102,596 107,687Equity 284,605 255,885 284,605 254,617 167,102 223,767 255,885

Total assets under management $705,216 $589,459 $705,216 $697,371 $523,159 $564,438 $589,459

Assets under management - domestic and foreign:g gDomestic $685,492 $589,106 $685,492 $679,927 $523,012 $564,199 $589,106Foreign 19,724 353 19,724 17,444 147 239 353

Total assets under management $705,216 $589,459 $705,216 $697,371 $523,159 $564,438 $589,459

Client Brokerage Assets (2) $1,164,171 $210,701 $1,164,171 $1,102,633 $172,106 $196,566 $210,701

Merrill Lynch Global Wealth Management Metrics

Number of financial advisors 15,008 1,974 15,008 15,822 2,007 1,964 1,974

Financial Advisor Productivity (3) (in thousands) $813 $1,777 $816 $811 $1,576 $1,496 $1,793

Total client balances (4) $1,321,502 $308,174 $1,321,502 $1,292,965 $290,661 $301,093 $308,174

U.S. Trust Metrics

Client facing associates 3,968 4,608 3,968 4,015 4,473 4,467 4,608

Total client balances (4) $301,512 $357,575 $301,512 $301,151 $308,366 $344,004 $357,575

Columbia Management Performance Metrics

# of 4 or 5 Star Funds by Morningstar 47 50 47 49 53 53 50

% of Assets Under Management in 4 or 5 Star Rated Funds (5) 46 % 64 % 46 % 49 % 62 % 64 % 64 %

(1) The elimination of assets under management that are managed by two lines of business

72

(2) The January 1, 2009 acquisition of Merrill Lynch contributed $1.0 trillion to client brokerage assets.

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

had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

(3) Financial advisor productivity is defined as annualized total revenue (excluding residual net interest income) divided by the total number of financial advisors. The decline in Financial Advisor

(5) Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that (4) Client balances are defined as deposits, assets under management, client brokerage assets and other assets in custody.

(1) The elimination of assets under management that are managed by two lines of business.

productivity in the first quarter 2009 compared to previous quarters results from the inclusion of Merrill Lynch financial advisors. Legacy Bank of America financial advisors historically have had higher amounts of credit and banking activity in their portfolios.

All Other (1, 2)

Three months ended June 30, 2009 compared to three months ended June 30, 2008:

Net income increased $531 million to $757 million driven by an increase in total revenue and a current period income tax benefit of $1.7 billion due in part to the release of a portion of a valuation allowance that was provided for an acquired capital loss carryforward, as well as other residual amounts resulting from the recognition of tax benefits during interim periods. These items were partially offset by higher provision and merger and restructuring charges. Net interest income increased $543 million resulting largely from the reclassification to card income related to our funds transfer pricing for Global Card Services’ securitizations. This reclassification is performed to present our consolidated results on a held basis. In addition, net interest income benefited from the addition of First Republic in 2009. Noninterest income increased $1.8 billion to $2.7 billion driven by the pre-tax gain of $5.3 billion on the sale of a portion of our CCB investment and gains of $672 million on sales of agency mortgage-backed securities partially offset by a decrease in all other income of $4.2 billion. The decrease in all other income was driven by the $3.6 billion negative credit valuation adjustment on certain Merrill Lynch structured notes due to our narrowing credit spreads during the three months ended June 30, 2009. In addition, we recorded

h h i i l d ll li d bli i f $639 illi l d h ALM d b i i f liother-than-temporary impairments related to non-agency collateralized mortgage obligations of $639 million related to the ALM debt securities portfolio during the three months ended June 30, 2009. Provision for credit losses increased $2.4 billion to $3.0 billion. This increase was primarily due to higher credit costs related to our ALM residential mortgage portfolio reflective of deterioration in the housing markets and the impacts of a weak economy. Additionally, reserves were increased in the Countrywide discontinued real estate and Merrill Lynch residential mortgage SOP 03-3 portfolio reflecting a reduction in expected principal cash flows. Merger and restructuring charges increased $617 million to $829 million due to the Merrill Lynch acquisition. The Merrill Lynch acquisition was accounted for under the acquisition method of accounting in accordance with SFAS 141R which requires the expensing of acquisition-related transaction and restructuring costs which were previously recorded as an adjustment to goodwill. As a result, we recorded $580 million of merger and restructuring charges during the three months ended June 30, 2009 related to the Merrill Lynch acquisition, the majority of which related to severance and employee-related charges.

Six months ended June 30 2009 compared to six months ended June 30 2008:Six months ended June 30, 2009 compared to six months ended June 30, 2008:

Net income increased to $3.7 billion driven by increases in net interest income of $848 million, noninterest income of $7.3 billion and a current period income tax benefit of $979 million partially offset by higher provision of $3.6 billion and increased merger and restructuring charges of $1.2 billion. These period-over-period changes were driven by the same factors as described above. In addition, during the first quarter of 2009 we recognized a $1.9 billion pre-tax gain on the sale of CCB shares resulting in a pre-tax gain of $7.3 billion for the six months ended June 30, 2009. Further, we recorded a positive credit valuation adjustment on certain Merrill Lynch structured notes of $2.2 billion during the first quarter of 2009 resulting in a net negative credit valuation adjustment of $1.4 billion for the six months ended June 30, 2009.

(Dollars in millions) Second First Fourth Third SecondSix Months Ended(Dollars in millions) Second First Fourth Third SecondQuarter Quarter Quarter Quarter Quarter

2009 2008 2009 2009 2008 2008 2008Net interest income (3) $(3,477) $(3,771) $(1,588) $(1,889) $(1,857) $(2,326) $(1,913)Noninterest income:

Card income 256 1,259 (278) 534 368 539 596 Equity investment income (loss) 7,305 977 5,979 1,326 (388) (327) 710 Gains (losses) on sales of debt securities 2,143 351 672 1,471 783 (3) 131 All other income (loss) (1,706) (349) (4,298) 2,592 (283) 112 (87)

Total noninterest income 7,998 2,238 2,075 5,923 480 321 1,350 Total revenue, net of interest expense 4,521 (1,533) 487 4,034 (1,377) (2,005) (563)

Six Months EndedJune 30

Provision for credit losses (4) (686) (2,161) (9) (677) (613) (996) (1,033) Merger and restructuring charges 1,594 382 829 765 306 247 212 All other noninterest expense 932 253 642 290 187 (24) 74

Income (loss) before income taxes 2,681 (7) (975) 3,656 (1,257) (1,232) 184 Income tax expense (benefit) (3) (979) 6 (1,732) 753 (520) (538) (42)

Net income (loss) $3,660 $(13) $757 $2,903 $(737) $(694) $226

Balance sheet

AverageT l l d l $163 770 $125 695 $159 142 $168 450 $145 238 $146 303 $117 504Total loans and leases $163,770 $125,695 $159,142 $168,450 $145,238 $146,303 $117,504Total deposits 108,757 $105,109 108,079 109,447 111,821 105,368 96,998

Period endTotal loans and leases $153,008 $95,826 $153,008 $165,534 $136,160 $146,363 $95,826Total deposits 106,127 93,418 106,127 93,702 87,520 99,913 93,418

(1) All Other consists of equity investment activities including Global Principal Investments, Corporate Investments and Strategic Investments, the residential mortgage portfolio associated with ALM activities, the residual impact of cost allocation processes, merger and restructuring charges, intersegment eliminations and the results of certain businesses that are expected to be or have been sold or are in the process of being liquidated. All Other also includes certain amounts associated with ALM activities, including the residual impact of funds transfer pricing allocation methodologies, amounts associated with the change in the value of derivatives used as economic hedges of interest rate and foreign exchange rate fluctuations that do not qualify for SFAS No. 133 “Accounting for Derivative instruments and Hedging Activities, as amended” hedge accounting treatment, foreign exchange rate fluctuations related to SFAS No. 52, "Foreign Currency Translation" revaluation of foreign-denominated debt issuances,

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certain gains (losses) on sales of whole mortgage loans, and gains (losses) on sales of debt securities. All Other also includes adjustments to noninterest income and income tax expense to remove the FTE impact of items (primarily low-income housing tax credits) that have been grossed up within noninterest income to a FTE amount in the business segments. In addition, All Other includes the offsetting securitization impact to present Global Card Services on a managed basis. (2) Effective 1/1/09, as part of the Merrill Lynch acquisition, All Other includes the results of First Republic Bank as well as fair value adjustments related to certain Merrill Lynch structured notes.(3) Fully taxable-equivalent basis(4) Provision for credit losses represents provision for credit losses in All Other combined with the Global Card Services securitization offset.

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

Global Principal Investments

Global Principal Investments (GPI) invests capital on behalf of the company to enhance strategic growth p ( ) p p y g gopportunities and generate returns. GPI business units – BAML Capital Partners, BAML Global Strategic Capital and BAML Real Estate Principal Investments – represent a diverse range of global investing opportunities and successful partnerships with internal lines of business and clients.

BAML Capital Partners

BAML Capital Partners is a private equity and mezzanine capital investment group within the Global Principal Investments group of Bank of America Merrill Lynch. The team has more than fifteen years of success in g p y yproviding junior capital for growth financings, buyouts, acquisitions and recapitalizations. The investment team focuses on profitable middle-market and large capitalization companies with valuations from $50 million to more than $5 billion.

Additional information on BAML Capital Partners can be found on their Web site at www.bankofamerica.com/bamlcp.

BAML Global Strategic Capitalg

The BAML Global Strategic Capital (GSC) group originates, structures and executes direct equity investments, private equity fund investments and hedge fund investments that are a strategic priority for Bank of America. GSC also manages stock, warrants and other forms of equity received by Bank of America in financings, restructurings or workouts of corporate loans. The GSC organization includes Strategic Equity Investments, Environmental Investments, Strategic Fund Investments and Capital Access Funds (a fund-of-funds investor focusing on underserved markets in the United States).

Additional information on Capital Access Funds can be found on their Web site at www.bacapitalaccessfunds.com.

BAML Real Estate Principal Investments

BAML Real Estate Principal Investments manages and/or maintains investment positions in real estate and real estate funds globally. The portfolio consists of legacy Merrill Lynch balance sheet financing as well as Real Estate Private Equity Funds.

G lobal Principal Investments(Dollars in millions)

G l b l P i i l I E I (L )Equity Investment

Book UnfundedV alue C ommitments Total

G lobal Principal Investments: G lobal Private E quity $4,289 $232 $4,521 $399 $44 G lobal Real Estate 2,486 460 2,946 (52) (85) G lobal Strategic C apital 4,360 2,052 6,412 (41) (93) Legacy/O ther Investments 751 65 816 (2) (28)

G lobal Principal Investments E x posures Income (Loss)

Three months

S ix months ended

J une 30, 2009J une 30, 2009

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Total G lobal Principal Investments $11,886 $2,809 $14,695 $304 $(162)

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