SUPPLEMENTAL INFORMATION

Exhibit 99.2

LOGO

Supplemental Information

Second Quarter 2003

July 14, 2003

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

Bank of America Corporation

Results Overview

Diluted EPS of $1.80, up 13% and 29% over 1Q03 and 2Q02, respectively.

Total revenue rose 8% over 1Q03 and 12% over 2Q02.

Consumer and Commercial Banking segment revenue rose 9% over 1Q03 and 15% over 2Q02 led by record quarters in card services and consumer real estate.

Consumer loans grew 17% while deposit levels rose 9% over the second quarter 2002.

Added 560,000 net new checking accounts in first half of 2003 versus 528,000 for full year of 2002.

Customer satisfaction for Top 2 box scores of most delighted customers rose 14% over year ago.

Banking center product sales increased 32% in the past year.

Asset Management segment growth over 1st quarter levels fueled by 26% growth in sales by Marsico.

Record quarter in investment banking driven by strong debt issuance as well as market share gains in equities and equity linked securities.

Net charge-offs were down 7% from 1Q03 and 13% from a year earlier.

Nonperforming asset levels declined 12% from March 2003 driven by declines in large corporate and commercial levels.

Beginning in September, our quarterly dividend will increase 25% to $0.80 per common share.

Bank of America Corporation

Consolidated Financial Highlights

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

	Year-to- Date 2003			Year-to- Date 2002			Second Quarter 2003			First Quarter 2003			Fourth Quarter 2002			Third Quarter 2002			Second Quarter 2002
Income statement
Total revenue	$	18,514		$	17,168		$	9,620		$	8,894		$	8,804		$	8,522		$	8,575
Provision for credit losses		1,605			1,728			772			833			1,165			804			888
Gains on sales of securities		569			137			296			273			304			189			93
Noninterest expense		9,775			8,984			5,058			4,717			4,832			4,620			4,490
Income tax expense		2,541			2,193			1,348			1,193			497			1,052			1,069
Net income		5,162			4,400			2,738			2,424			2,614			2,235			2,221
Diluted earnings per common share		3.39			2.77			1.80			1.59			1.69			1.45			1.40
Average diluted common shares outstanding		1,524,715			1,586,836			1,523,306			1,526,288			1,542,482			1,546,347			1,592,250
Dividends paid per common share	$	1.28		$	1.20		$	0.64		$	0.64		$	0.64		$	0.60		$	0.60
Performance ratios
Return on average assets		1.40	%		1.38	%		1.42	%		1.38	%		1.49	%		1.33	%		1.38	%
Return on average common shareholders’ equity		20.90			18.55			21.86			19.92			21.58			19.02			18.47



Book value per share of common stock	$	34.06		$	31.47		$	34.06		$	33.38		$	33.49		$	32.07		$	31.47
Market price per share of common stock:
High for the period	$	80.00		$	77.08		$	80.00		$	72.50		$	71.99		$	71.94		$	77.08
Low for the period		64.26			57.51			67.20			64.26			53.98			57.90			66.82
Closing price		79.03			70.36			79.03			66.84			69.57			63.80			70.36
Market capitalization		118,254			106,642			118,254			100,095			104,403			95,838			106,642
Number of banking centers		4,200			4,232			4,200			4,202			4,208			4,226			4,232
Number of ATM’s		13,250			12,827			13,250			13,266			13,013			12,489			12,827
Full-time equivalent employees		132,796			135,489			132,796			132,583			133,944			134,135			135,489

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

Bank of America Corporation

Supplemental Financial Highlights

(Dollars in millions)

Taxable-equivalent basis data

	Year-to- Date 2003			Year-to- Date 2002			Second Quarter 2003			First Quarter 2003			Fourth Quarter 2002			Third Quarter 2002			Second Quarter 2002
Net interest income	$	10,885		$	10,509		$	5,524		$	5,361		$	5,537		$	5,465		$	5,262
Total revenue		18,825			17,430			9,779			9,046			8,967			8,685			8,743
Net interest yield		3.42	%		3.80	%		3.33	%		3.52	%		3.66	%		3.75	%		3.75	%
Efficiency ratio		51.93			51.54			51.73			52.14			53.90			53.19			51.34

Reconciliation to GAAP Financial Measures

Shareholder value added (SVA) is a performance measure used in managing the corporation’s growth strategy and is not defined in GAAP (generally accepted accounting principles). Management believes that this measure provides users of this financial information with a more accurate picture of returns on capital used in operating the business for comparative purposes. Other companies may define or calculate supplemental financial data differently. See the Table below for supplemental financial data and corresponding reconciliations to GAAP financial measures for the six months ended June 30, 2003 and 2002, and the three months ended June 30, 2003, March 31, 2003, December 31, 2002, September 30, 2002 and June 30, 2002.

Reconciliation of net income to

shareholder value added

	Year-to- Date 2003			Year-to- Date 2002			Second Quarter 2003			First Quarter 2003			Fourth Quarter 2002			Third Quarter 2002			Second Quarter 2002
Net income	$	5,162		$	4,400		$	2,738		$	2,424		$	2,614		$	2,235		$	2,221
Amortization expense		108			110			54			54			54			54			55
Capital charge		(2,716	)		(2,844	)		(1,378	)		(1,338	)		(1,454	)		(1,409	)		(1,442	)

Shareholder value added	$	2,554		$	1,666		$	1,414		$	1,140		$	1,214		$	880		$	834

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

Bank of America Corporation

Consolidated Statement of Income

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

	Year-to- Date 2003			Year-to- Date 2002			Second Quarter 2003		First Quarter 2003			Fourth Quarter 2002			Third Quarter 2002			Second Quarter 2002
Interest income
Interest and fees on loans and leases	$	10,760		$	10,975		$	5,412	$	5,348		$	5,502		$	5,553		$	5,530
Interest and dividends on securities		1,789			1,870			1,011		778			1,061			1,104			924
Federal funds sold and securities purchased under agreements to resell		387			485			193		194			208			177			270
Trading account assets		2,049			1,826			1,007		1,042			979			1,006			948
Other interest income		735			699			372		363			371			345			312

Total interest income		15,720			15,855			7,995		7,725			8,121			8,185			7,984

Interest expense
Deposits		2,452			2,728			1,269		1,183			1,292			1,414			1,384
Short-term borrowings		967			1,006			514		453			557			526			529
Trading account liabilities		624			629			316		308			289			342			344
Long-term debt		1,103			1,245			531		572			609			601			633

Total interest expense		5,146			5,608			2,630		2,516			2,747			2,883			2,890

Net interest income		10,574			10,247			5,365		5,209			5,374			5,302			5,094
Noninterest income
Consumer service charges		1,570			1,426			793		777			802			761			732
Corporate service charges		1,154			1,132			577		577			571			586			566

Total service charges		2,724			2,558			1,370		1,354			1,373			1,347			1,298

Consumer investment and brokerage services		779			801			401		378			370			373			420
Corporate investment and brokerage services		369			348			204		165			171			174			178

Total investment and brokerage services		1,148			1,149			605		543			541			547			598

Mortgage banking income		964			327			559		405			209			220			138
Investment banking income		866			805			488		378			422			318			464
Equity investment gains (losses)		(25	)		(10	)		43		(68	)		(54	)		(216	)		(36	)
Card income		1,443			1,196			762		681			736			686			621
Trading account profits		207			608			93		114			99			71			263
Other income		613			288			335		278			104			247			135

Total noninterest income		7,940			6,921			4,255		3,685			3,430			3,220			3,481

Total revenue		18,514			17,168			9,620		8,894			8,804			8,522			8,575
Provision for credit losses		1,605			1,728			772		833			1,165			804			888
Gains on sales of securities		569			137			296		273			304			189			93
Noninterest expense
Personnel		5,154			4,832			2,695		2,459			2,482			2,368			2,386
Occupancy		970			873			498		472			450			457			441
Equipment		537			541			253		284			292			291			279
Marketing		468			340			238		230			203			210			170
Professional fees		406			213			281		125			186			126			122
Amortization of intangibles		108			110			54		54			54			54			55
Data processing		528			431			262		266			291			295			226
Telecommunications		261			242			137		124			120			119			123
Other general operating		1,343			1,402			640		703			754			700			688

Total noninterest expense		9,775			8,984			5,058		4,717			4,832			4,620			4,490

Income before income taxes		7,703			6,593			4,086		3,617			3,111			3,287			3,290
Income tax expense		2,541			2,193			1,348		1,193			497			1,052			1,069

Net income	$	5,162		$	4,400		$	2,738	$	2,424		$	2,614		$	2,235		$	2,221

Net income available to common shareholders	$	5,160		$	4,398		$	2,737	$	2,423		$	2,613		$	2,233		$	2,220

Per common share information
Earnings	$	3.45		$	2.86		$	1.83	$	1.62		$	1.74		$	1.49		$	1.45

Diluted earnings	$	3.39		$	2.77		$	1.80	$	1.59		$	1.69		$	1.45		$	1.40

Dividends paid	$	1.28		$	1.20		$	0.64	$	0.64		$	0.64		$	0.60		$	0.60

Average common shares issued and outstanding		1,496,827			1,538,600			1,494,094		1,499,405			1,499,557			1,504,017			1,533,783

Average diluted common shares issued and outstanding		1,524,715			1,586,836			1,523,306		1,526,288			1,542,482			1,546,347			1,592,250

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

Bank of America Corporation

Consolidated Balance Sheet

(Dollars in millions)

	June 30 2003			March 31 2003			June 30 2002
Assets
Cash and cash equivalents	$	25,220		$	25,069		$	21,309
Time deposits placed and other short-term investments		6,790			5,523			6,307
Federal funds sold and securities purchased under agreements to resell		64,314			49,809			35,449
Trading account assets		66,947			65,733			63,466
Derivative assets		38,587			35,409			24,809
Securities:
Available-for-sale		114,250			75,511			82,143
Held-to-maturity		279			927			1,020

Total securities		114,529			76,438			83,163

Loans and leases		360,305			343,412			340,394
Allowance for credit losses		(6,841	)		(6,853	)		(6,873	)

Loans and leases, net of allowance for credit losses		353,464			336,559			333,521

Premises and equipment, net		5,899			6,643			6,755
Mortgage banking assets		1,748			1,995			3,404
Goodwill		11,426			11,396			10,950
Core deposit intangibles and other intangibles		1,010			1,065			1,184
Other assets		79,245			64,126			48,131

Total assets	$	769,179		$	679,765		$	638,448

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	132,851		$	121,127		$	101,163
Interest-bearing		256,602			242,287			224,582
Deposits in foreign offices:
Noninterest-bearing		2,206			2,331			1,750
Interest-bearing		30,276			29,431			33,274

Total deposits		421,935			395,176			360,769

Federal funds purchased and securities sold under agreements to repurchase		104,821			72,976			56,678
Trading account liabilities		27,708			23,578			25,751
Derivative liabilities		23,435			22,876			17,800
Commercial paper and other short-term borrowings		43,584			29,729			32,973
Accrued expenses and other liabilities		28,943			15,905			32,002
Long-term debt		61,681			63,442			59,181
Trust preferred securities		6,056			6,031			5,530

Total liabilities		718,163			629,713			590,684

Shareholders’ equity
Preferred stock, $0.01 par value; authorized—100,000,000 shares; issued and outstanding 1,306,463; 1,336,200; and 1,411,750 shares		56			57			60
Common stock, $0.01 par value; authorized—5,000,000,000 shares; issued and outstanding 1,496,314,280; 1,497,530,740; and 1,515,667,160 shares		15			127			1,499
Retained earnings		51,374			49,978			45,546
Accumulated other comprehensive income (loss)		(251	)		74			660
Other		(178	)		(184	)		(1	)

Total shareholders’ equity		51,016			50,052			47,764

Total liabilities and shareholders’ equity	$	769,179		$	679,765		$	638,448

Bank of America Corporation

Capital Management

(Dollars in millions)

	2Q02			3Q02			4Q02			1Q03			2Q03*
Tier 1 capital	$	41,097		$	41,732		$	43,105		$	43,818		$	45,192
Total capital		63,108			63,505			65,169			65,688			66,863
Risk-weighted assets		508,008			513,085			524,175			534,378			559,324
Tier 1 capital ratio		8.09	%		8.13	%		8.22	%		8.20	%		8.08	%
Total capital ratio		12.42			12.38			12.43			12.29			11.95
Ending equity / ending assets		7.48			7.31			7.62			7.36			6.63
Ending capital / ending assets		8.35			8.22			8.53			8.25			7.42
Average equity / average assets		7.47			6.97			6.91			6.92			6.49

*Preliminary data on risk based capital

Share Repurchase Program

30 million common shares were repurchased in the second quarter of 2003 as a part of ongoing share repurchase programs.

105 million shares remain outstanding under the current authorized program (104 million net of outstanding put options).

29 million shares were issued in the second quarter of 2003, mostly due to stock incentive plans.

LOGO

Bank of America Corporation

Average Balances and Interest Rates—Taxable-Equivalent Basis

(Dollars in millions)

	Second Quarter 2003						First Quarter 2003						Second Quarter 2002
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	7,888	$	39	1.99	%	$	6,987	$	43	2.49	%	$	10,673	$	63	2.37	%
Federal funds sold and securities purchased under agreements to resell		70,054		194	1.11			57,873		194	1.35			48,426		270	2.23
Trading account assets		99,129		1,022	4.13			99,085		1,053	4.27			78,113		961	4.93
Securities		95,614		1,028	4.30			67,784		793	4.69			67,291		939	5.59
Loans and leases⁽¹⁾:
Commercial—domestic		100,721		1,746	6.95			103,663		1,836	7.18			111,522		1,887	6.78
Commercial—foreign		18,004		170	3.79			18,876		156	3.35			21,454		212	3.97
Commercial real estate—domestic		20,039		218	4.36			19,955		215	4.37			21,486		258	4.83
Commercial real estate—foreign		305		3	3.95			301		3	3.88			393		5	5.14

Total commercial		139,069		2,137	6.16			142,795		2,210	6.27			154,855		2,362	6.12

Residential mortgage		120,754		1,703	5.64			113,695		1,582	5.59			94,726		1,602	6.77
Home equity lines		22,763		263	4.64			23,054		267	4.70			22,579		305	5.41
Direct/Indirect consumer		32,248		495	6.17			31,393		503	6.49			30,021		542	7.25
Consumer finance		7,244		137	7.58			8,012		154	7.76			11,053		226	8.20
Credit card		26,211		690	10.56			24,684		644	10.57			20,402		510	10.01
Foreign consumer		1,990		17	3.47			2,029		17	3.45			2,048		19	3.71

Total consumer		211,210		3,305	6.27			202,867		3,167	6.30			180,829		3,204	7.10

Total loans and leases		350,279		5,442	6.23			345,662		5,377	6.29			335,684		5,566	6.65

Other earning assets		40,536		429	4.24			35,701		417	4.71			22,005		353	6.42

Total earning assets⁽²⁾		663,500		8,154	4.92			613,092		7,877	5.18			562,192		8,152	5.81

Cash and cash equivalents		23,203						21,699						21,200
Other assets, less allowance for credit losses		87,941						78,508						63,207

Total assets	$	774,644					$	713,299					$	646,599

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	24,420	$	35	0.58	%	$	22,916	$	34	0.59	%	$	21,841	$	34	0.64	%
NOW and money market deposit accounts		146,284		295	0.81			142,338		291	0.83			129,856		346	1.07
Consumer CDs and IRAs		69,506		742	4.28			66,937		695	4.21			68,015		764	4.51
Negotiable CDs, public funds and other time deposits		12,912		45	1.41			3,598		16	1.78			4,635		30	2.43

Total domestic interest-bearing deposits		253,122		1,117	1.77			235,789		1,036	1.78			224,347		1,174	2.10

Foreign interest-bearing deposits⁽³⁾:
Banks located in foreign countries		16,150		87	2.16			14,218		80	2.27			14,048		108	3.10
Governments and official institutions		2,392		8	1.42			1,785		6	1.31			2,449		12	1.89
Time, savings, and other		19,209		57	1.18			18,071		61	1.38			18,860		90	1.91

Total foreign interest-bearing deposits		37,751		152	1.61			34,074		147	1.75			35,357		210	2.38

Total interest-bearing deposits		290,873		1,269	1.75			269,863		1,183	1.78			259,704		1,384	2.14

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		152,722		514	1.35			123,041		453	1.49			97,579		529	2.17
Trading account liabilities		38,610		316	3.28			34,858		308	3.58			31,841		344	4.34
Long-term debt and trust preferred securities		68,927		531	3.08			67,399		572	3.40			65,940		633	3.84

Total interest-bearing liabilities⁽²⁾		551,132		2,630	1.91			495,161		2,516	2.05			455,064		2,890	2.55

Noninterest-bearing sources:
Noninterest-bearing deposits		114,434						115,897						106,282
Other liabilities		58,809						52,841						36,979
Shareholders’ equity		50,269						49,400						48,274

Total liabilities and shareholders’ equity	$	774,644					$	713,299					$	646,599

Net interest spread					3.01						3.13						3.26
Impact of noninterest-bearing sources					0.32						0.39						.49

Net interest income/yield on earning assets			$	5,524	3.33	%			$	5,361	3.52	%			$	5,262	3.75	%

(1)

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

(2)

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $587 and $576 in the second and first quarters of 2003 and $509 in the second quarter of 2002, respectively. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $28 and $46 in the second and first quarters of 2003 and $65 in the second quarter of 2002, respectively. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

(3)

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

Bank of America Corporation

Average Balances and Interest Rates—Tax-Equivalent Basis

(Dollars in millions)

	Six Months Ended
	June 30, 2003						June 30, 2002
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	7,440	$	82	2.22	%	$	10,459	$	124	2.40	%
Federal funds sold and securities purchased under
agreements to resell		63,997		388	1.22			46,564		485	2.09
Trading account assets		99,107		2,075	4.20			74,384		1,849	4.99
Securities		81,776		1,821	4.45			70,399		1,902	5.41
Loans and leases⁽¹⁾:
Commercial—domestic		102,184		3,581	7.07			113,829		3,865	6.84
Commercial—foreign		18,437		327	3.57			21,684		438	4.07
Commercial real estate—domestic		19,997		433	4.36			21,866		533	4.92
Commercial real estate—foreign		303		6	3.92			391		9	4.57

Total commercial		140,921		4,347	6.22			157,770		4,845	6.19

Residential mortgage		117,243		3,285	5.62			87,953		2,991	6.82
Home equity lines		22,908		531	4.67			22,296		599	5.42
Direct/Indirect consumer		31,824		998	6.32			30,191		1,092	7.30
Consumer finance		7,626		291	7.67			11,590		481	8.34
Credit card		25,452		1,333	10.57			19,895		1,000	10.13
Foreign consumer		2,009		34	3.46			2,070		38	3.71

Total consumer		207,062		6,472	6.28			173,995		6,201	7.17

Total loans and leases		347,983		10,819	6.26			331,765		11,046	6.70

Other earning assets		38,132		846	4.46			22,117		711	6.47

Total earning assets⁽²⁾		638,435		16,031	5.05			555,688		16,117	5.83

Cash and cash equivalents		22,455						21,616
Other assets, less allowance for credit losses		83,251						64,859

Total assets	$	744,141					$	642,163

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	23,672	$	69	0.59	%	$	21,281	$	67	0.64	%
NOW and money market deposit accounts		144,322		586	0.82			128,544		681	1.07
Consumer CDs and IRAs		68,228		1,437	4.25			68,683		1,494	4.39
Negotiable CDs, public funds and other time deposits		8,281		61	1.49			4,654		62	2.63

Total domestic interest-bearing deposits		244,503		2,153	1.78			223,162		2,304	2.08

Foreign interest-bearing deposits⁽³⁾:
Banks located in foreign countries		15,189		167	2.21			14,752		215	2.94
Governments and official institutions		2,090		14	1.37			2,675		26	1.93
Time, savings, and other		18,643		118	1.27			19,238		183	1.92

Total foreign interest-bearing deposits		35,922		299	1.68			36,665		424	2.33

Total interest-bearing deposits		280,425		2,452	1.76			259,827		2,728	2.12

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		137,964		967	1.41			92,255		1,006	2.20
Trading account liabilities		36,745		624	3.42			31,455		629	4.03
Long-term debt and trust preferred securities		68,167		1,103	3.24			66,812		1,245	3.73

Total interest-bearing liabilities⁽²⁾		523,301		5,146	1.98			450,349		5,608	2.51

Noninterest-bearing sources:
Noninterest-bearing deposits		115,162						105,371
Other liabilities		55,841						38,576
Shareholders’ equity		49,837						47,867

Total liabilities and shareholders’ equity	$	744,141					$	642,163

Net interest spread					3.07						3.32
Impact of noninterest-bearing sources					0.35						0.48

Net interest income/yield on earning assets			$	10,885	3.42	%			$	10,509	3.80	%

(1)

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

(2)

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $1,163 and $1,065 in the six months ended June 30, 2003 and 2002, respectively. These amounts were substantially offset by corresponding decreases in the income earned on the underlying assets. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $74 and $10 in the six months ended June 30, 2003 and 2002, respectively. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

(3)

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

LOGO

Bank of America Corporation

Consumer and Commercial Banking Segment Results

(Dollars in millions)

	Year-to-Date						Quarterly
	2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02			3 Qtr 02			2 Qtr 02
Key Measures

Total revenue*	$	12,623		$	11,373		$	6,590		$	6,033		$	6,192		$	6,051		$	5,723
Provision for credit losses		1,010			875			522			488			510			420			449
Net income		3,462			3,144			1,871			1,591			1,721			1,678			1,587
Shareholder value added		2,480			2,080			1,381			1,099			1,168			1,144			1,056
Return on average equity		35.5	%		32.7	%		38.5	%		32.6	%		34.7	%		34.9	%		33.1	%
Efficiency ratio*		48.5			48.7			47.1			50.0			47.5			49.4			48.3

Selected Average Balance
Sheet Components

Total loans and leases	$	186,789		$	181,721		$	187,811		$	185,756		$	184,243		$	182,142		$	182,012
Total deposits		301,080			278,418			306,447			295,654			292,259			283,769			280,161
Total earning assets		330,535			277,077			339,030			321,945			314,605			286,249			279,024

Period End (in billions)
Mortgage servicing portfolio	$	249.6		$	287.8		$	249.6		$	257.2		$	264.5		$	278.7		$	287.8
Mortgage originations:
Retail		50.0			22.4			28.2			21.8			22.2			15.3			9.5
Wholesale		23.0			9.7			12.2			10.8			9.7			8.6			4.9

Taxable-equivalent basis

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

Bank of America Corporation

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with over 5.6 million subscribers. This represents an active customer penetration rate of 37%.

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

2.4 million active bill pay users paid over $10.9 billion worth of bills this quarter. The number of customers who sign up and use Bank of America Bill Pay Service continues to far surpass that of any other financial institution.

Currently, 240 companies are presenting over 4.0 million e-bills per quarter.

Bank of America Corporation

Consumer Credit Card Results

Included within Consumer Products

(Dollars in millions)

	Year-to-Date						Quarterly
		2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02			3 Qtr 02			2 Qtr 02
Key Measures

Outstandings:
Held (Period end)	$	27,419		$	21,155		$	27,419		$	24,819		$	24,729		$	23,062		$	21,155
Managed (Period end)		30,807			27,089			30,807			29,064			29,461			28,057			27,089
Held (Average)		25,452			19,895			26,211			24,684			23,535			22,263			20,402
Managed (Average)		29,568			26,721			29,970			29,161			28,406			27,540			26,902

Managed Income Statement:
Total revenue	$	2,008		$	1,633		$	1,043		$	965		$	943		$	895		$	806
Provision for credit losses		882			764			473			409			386			392			393
Noninterest expense		554			493			279			275			244			254			249

Income before income taxes		572			376			291			281			313			249			164

Shareholder Value Added	$	262		$	155		$	134		$	128		$	152		$	114		$	62

Credit Quality:

Held:
Charge-offs $	$	701		$	510		$	378		$	323		$	299		$	285		$	269
Charge-offs %		5.56	%		5.17	%		5.78	%		5.31	%		5.03	%		5.09	%		5.28	%

Managed:
Losses $	$	807		$	730		$	429		$	378		$	357		$	356		$	375
Losses %		5.50	%		5.51	%		5.74	%		5.25	%		4.99	%		5.13	%		5.59	%

Managed Delinquency %:
30+		3.99	%		3.78	%		3.99	%		4.18	%		3.94	%		3.63	%		3.78	%
90+		1.80			1.76			1.80			1.91			1.71			1.66			1.76

Bank of America Corporation

Global Corporate and Investment Banking Segment Results

(Dollars in millions)

	Year-to-Date						Quarterly
Key Measures	2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02			3 Qtr 02			2 Qtr 02
Total revenue*	$	4,605		$	4,591		$	2,262		$	2,343		$	2,085		$	2,001		$	2,306
Provision for credit losses		444			481			172			272			524			203			216
Net income		921			967			440			481			206			385			509
Shareholder value added		378			306			175			203			(120	)		62			183
Return on average equity		18.2	%		17.1	%		17.8	%		18.6	%		7.4	%		14.0	%		18.3	%
Efficiency ratio*		59.6			56.6			62.7			56.5			60.4			60.5			56.2

Selected Average Balance Sheet Components
Total loans and leases	$	53,899		$	65,552		$	51,285		$	56,543		$	60,475		$	61,032		$	64,114
Total deposits		67,106			63,492			66,900			67,315			65,879			66,163			63,770
Total earning assets		229,654			197,004			233,125			226,145			207,767			203,537			201,401

Taxable-equivalent basis

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

Bank of America Corporation

Global Corporate & Investment Banking Strategic Progress Continues

LOGO

Source: Thomson Financial—First Half 2003

Significant US market share gains

Convertible debt market share more than doubled its market share year over year, from 4.3% to 8.7%.

The market share for common stock underwriting more than doubled from 2.0% in the first half of 2002 to 4.9% year to date.

Mortgage-backed securities increased from 5.5% to 8.5% year over year.

Bank of America Corporation

Asset Management Segment Results

(Dollars in millions)

	Year-to-Date						Quarterly
Key Measures	2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02			3 Qtr 02			2 Qtr 02
Total revenue*	$	1,190		$	1,220		$	612		$	578		$	588		$	571		$	622
Provision for credit losses		(1	)		170			3			(4	)		30			118			143
Net income		284			203			144			140			108			63			66
Shareholder value added		136			67			70			66			26			(14	)		(2	)
Return on average equity		20.7	%		17.6	%		21.1	%		20.3	%		15.5	%		9.6	%		11.4	%
Efficiency ratio*		63.3			60.4			63.2			63.3			67.3			63.7			61.0

Selected Average Balance
Sheet Components
Total loans and leases	$	22,775		$	24,550		$	22,866		$	22,683		$	22,950		$	23,637		$	24,308
Total deposits		12,784			11,806			12,710			12,859			12,531			11,967			11,776
Total earning assets		23,601			25,175			23,784			23,415			23,693			24,238			24,907

Period End (in billions)
Assets under management	$	314.9		$	295.2		$	314.9		$	297.0		$	310.4		$	271.9		$	295.2
Client brokerage assets		90.6			90.5			90.6			90.8			90.9			87.1			90.5
Assets in custody		47.9			41.0			47.9			45.1			46.5			42.1			41.0

Total client assets	$	453.4		$	426.7		$	453.4		$	432.9		$	447.8		$	401.1		$	426.7

Taxable-equivalent basis

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

Bank of America Corporation

Equity Investments Segment Results

(Dollars in millions)

	Year-to-Date						Quarterly
Key Measures	2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02			3 Qtr 02			2 Qtr 02
Total revenue*	$	(119	)	$	(112	)	$	(12	)	$	(107	)	$	(100	)	$	(233	)	$	(84	)
Provision for credit losses		4			—			3			1			7			—			—
Net income		(114	)		(87	)		(28	)		(86	)		(83	)		(161	)		(55	)
Shareholder value added		(225	)		(215	)		(84	)		(141	)		(146	)		(223	)		(120	)
Return on average equity		(11.1	)%		(8.2	)%		(5.5	)%		(16.7	)%		(15.6	)%		(30.6	)%		(10.1	)%
Efficiency ratio*		(45.5	)		(32.3	)		n/m			(24.2	)		(27.5	)		(11.5	)		(10.5	)

Selected Average Balance
Sheet Components
Total loans and leases	$	424		$	437		$	414		$	434		$	438		$	446		$	448
Total earning assets		424			441			414			434			438			446			448

Period End
Investment balances for Principal Investing	$	5,436		$	5,429		$	5,436		$	5,435		$	5,395		$	5,429		$	5,429

Taxable-equivalent basis

n/m = not meaningful

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

Bank of America Corporation

Corporate Other Results⁽¹⁾

(Dollars in millions)

	Year-to-Date						Quarterly
Key Measures	2003			2002			2 Qtr 03			1 Qtr 03			4 Qtr 02		3 Qtr 02			2 Qtr 02
Total revenue*	$	525		$	358		$	327		$	198		$	202	$	295		$	176
Provision for credit losses		148			202			72			76			94		63			80
Net income⁽²⁾		609			173			311			298			662		270			114
Shareholder value added		(215	)		(572	)		(128	)		(87	)		286		(89	)		(283	)

Selected Average Balance
Sheet Components
Total loans and leases	$	84,096		$	59,505		$	87,903		$	80,246		$	74,994	$	73,228		$	64,802
Total deposits		14,617			11,482			19,250			9,932			10,712		12,034			10,279
Total earning assets		180,128			135,535			199,028			161,018			171,269		158,047			138,771

Taxable-equivalent basis

(1)

Corporate Other consists primarily of gains and losses associated with managing the balance sheet of the Corporation, certain consumer finance and commercial lending businesses being liquidated, and certain residential mortgages originated by the mortgage group or otherwise acquired and held for asset/liability management purposes.

(2)

The fourth quarter of 2002 includes $488 tax benefit related to the settlement of federal income tax returns through 1999.

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

Bank of America Corporation

Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)

	2Q02				3Q02				4Q02				1Q03					2Q03
	Amt.		Ratio		Amt.		Ratio		Amt.		Ratio		Amt.			Ratio		Amt.		Ratio
Commercial—domestic	$	383	1.38	%	$	240	0.90	%	$	478	1.80	%	$	239		0.94	%	$	221	0.88	%
Commercial—foreign		119	2.23			148	2.77			205	3.95			120		2.57			53	1.19
Commercial real estate—domestic		8	0.14			6	0.12			9	0.20			9		0.18			10	0.21

Total commercial		510	1.32			394	1.05			692	1.87			368		1.04			284	0.82

Residential mortgage		8	0.03			5	0.02			18	0.07			2		0.01			11	0.04
Home equity lines		7	0.12			5	0.08			6	0.10			6		0.11			6	0.11
Direct/Indirect consumer		38	0.50			48	0.63			60	0.78			56		0.72			38	0.47
Consumer finance		49	1.77			54	2.13			77	3.44			68		3.42			46	2.52
Credit card		269	5.28			285	5.09			299	5.03			323		5.31			378	5.78
Other consumer domestic		7	n/m			11	n/m			11	n/m			9		n/m			8	n/m
Foreign consumer		—	—			2	0.32			2	0.38			1		0.20			1	0.28

Total consumer		378	0.84			410	0.85			473	0.95			465		0.93			488	0.93

Total net charge-offs	$	888	1.06		$	804	0.94		$	1,165	1.35		$	833		0.98		$	772	0.88


By Business Segment:
Consumer & commercial banking	$	449	0.99	%	$	420	0.92	%	$	509	1.10	%	$	488		1.06	%	$	522	1.12	%
Global corporate & investment banking		216	1.35			203	1.32			526	3.44			272		1.96			172	1.34
Asset management		143	2.37			118	1.99			30	0.52			(4	)	0.06			3	0.04
Equity investments		—	—			—	—			7	6.26			1		0.72			3	3.36
Corporate other		80	0.50			63	0.34			93	0.50			76		0.38			72	0.33

Total net charge-offs	$	888	1.06		$	804	0.94		$	1,165	1.35		$	833		0.98		$	772	0.88

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

LOGO

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)

	2Q02			3Q02			4Q02			1Q03			2Q03
Commercial—domestic	$	2,847		$	3,132		$	2,781		$	2,605		$	2,265
Commercial—foreign		980			854			1,359			1,279			1,040
Commercial real estate—domestic		202			172			161			173			154
Commercial real estate—foreign		3			3			3			3			2

Total commercial		4,032			4,161			4,304			4,060			3,461

Residential mortgage		503			585			612			628			618
Home equity lines		64			57			66			63			55
Direct/Indirect consumer		27			31			30			28			33
Consumer finance		8			8			19			18			11
Foreign consumer		8			7			6			9			9

Total consumer		610			688			733			746			726

Total nonperforming loans		4,642			4,849			5,037			4,806			4,187
Foreclosed properties		297			282			225			227			243

Total nonperforming assets(1)	$	4,939		$	5,131		$	5,262		$	5,033		$	4,430


Loans past due 90 days or more and still accruing	$	605		$	726		$	764		$	808		$	726
Nonperforming Assets / Total Assets		0.77	%		0.78	%		0.80	%		0.74	%		0.58	%
Nonperforming Assets / Total Loans, Leases and Foreclosed Properties		1.45			1.50			1.53			1.46			1.23
Nonperforming Loans / Total Loans and Leases		1.36			1.42			1.47			1.40			1.16

Allowance for Loan Losses	$	6,873		$	6,861		$	6,851		$	6,853		$	6,841
Allowance / Total Loans		2.02	%		2.01	%		2.00	%		2.00	%		1.90	%
Allowance / Total Nonperforming Loans		148			142			136			143			163

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

(1)

Balances do not include $98, $174, $120, $184, and $221 of nonperforming assets included in other assets at June 30, 2003, March 31, 2003, December 31, 2002, September 30, 2002, and June 30, 2002, respectively.

LOGO LOGO

Bank of America Corporation

Significant Industry Non-Real Estate Outstanding Commercial Loans and Leases

(Dollars in millions)

	June 30, 2003		December 31, 2002		Increase (Decrease) from 12/31/02
Retailing	$	11,516	$	10,572	9	%
Transportation		8,026		8,030	(0	)
Leisure and sports, hotels and restaurants		7,694		8,139	(5	)
Food, beverage and tobacco		7,038		7,335	(4	)
Materials		6,880		7,972	(14	)
Education and government		6,553		5,624	17
Capital goods		6,393		7,088	(10	)
Commercial services and supplies		5,997		6,449	(7	)
Diversified financials		5,985		8,344	(28	)
Utilities		4,088		5,590	(27	)
Health care equipment and services		3,885		3,912	(1	)
Media		3,802		5,911	(36	)
Energy		2,766		3,076	(10	)
Religious and social organizations		2,639		2,426	9
Telecommunications services		2,516		3,105	(19	)
Consumer durables and apparel		2,494		2,591	(4	)
Banks		1,392		1,881	(26	)
Food and drug retailing		1,258		1,344	(6	)
Automobiles and components		1,192		1,024	16
Insurance		1,182		1,616	(27	)
Technology hardware and equipment		1,076		1,368	(21	)
Other ⁽¹⁾		20,200		21,568	(6	)

Total	$	114,572	$	124,965	(8	)

(1)

At June 30, 2003 and December 31, 2002, Other includes $9,662 and $9,090, respectively, of loans outstanding to individuals and trusts, representing 2.7% of total outstanding loans and leases for both period ends. The remaining balance in Other includes loans to industries which primarily include software and services, pharmaceuticals and biotechnology, and household and personal products.

Bank of America Corporation

Selected Emerging Markets

(Dollars in millions)

	Loans and Loan Commitments		Other Financing⁽¹⁾		Derivative Assets		Securities/ Other Investments⁽²⁾		Total Cross- Border Exposure⁽³⁾		Gross Local Country Exposure⁽⁴⁾		Total Foreign Exposure June 30, 2003		Increase/ (Decrease) from December 31, 2002
Region/Country
Asia
China	$	54	$	18	$	42	$	26	$	140	$	62	$	202	$	(42	)
Hong Kong⁽⁵⁾		151		59		100		116		426		3,477		3,903		99
India		406		173		61		247		887		937		1,824		451
Indonesia		56		—		18		26		100		2		102		(18	)
South Korea		584		583		28		67		1,262		841		2,103		867
Malaysia		8		4		—		11		23		146		169		(71	)
Pakistan		5		—		—		—		5		—		5		(2	)
Philippines		26		27		3		13		69		57		126		(30	)
Singapore		191		9		78		3		281		1,116		1,397		(271	)
Taiwan		283		87		44		—		414		580		994		(95	)
Thailand		71		5		20		26		122		194		316		53
Other		3		18		1		—		22		84		106		10

Total	$	1,838	$	983	$	395	$	535	$	3,751	$	7,496	$	11,247	$	951

Central and Eastern Europe
Russian Federation	$	0	$	0	$	0	$	4	$	4	$	2	$	6	$	1
Turkey		10		3		—		24		37		—		37		(21	)
Other		15		13		30		152		210		19		229		(72	)

Total	$	25	$	16	$	30	$	180	$	251	$	21	$	272	$	(92	)

Latin America
Argentina	$	197	$	30	$	2	$	109	$	338	$	74	$	412	$	(53	)
Brazil		253		228		37		94		612		255		867		(308	)
Chile		57		22		7		8		94		—		94		(47	)
Colombia		50		9		5		4		68		—		68		(20	)
Mexico		777		152		123		1,967		3,019		197		3,216		1,627
Venezuela		101		1		—		120		222		—		222		(10	)
Other		128		54		1		37		220		—		220		(5	)

Total	$	1,563	$	496	$	175	$	2,339	$	4,573	$	526	$	5,099	$	1,184

Total	$	3,426	$	1,495	$	600	$	3,054	$	8,575	$	8,043	$	16,618	$	2,043

(1)

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

(2)

Amounts outstanding in the table above for Philippines, Argentina, Mexico, Venezuela and Latin America Other have been reduced by $13, $94, $0, $147 and $41, respectively, at June 30, 2003, and $12, $90, $505, $131 and $37, respectively, at December 31, 2002. Such amounts represent the fair value of U.S. Treasury securities held as collateral outside the country of exposure.

(3)

Cross-border exposure includes amounts payable to the Corporation by residents of countries other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with Federal Financial Institutions Examinations Council (FFIEC) reporting rules.

(4)

Gross local country exposure includes amounts payable to the Corporation by residents of countries in which the credit is booked, regardless of the currency in which the claim is denominated. Management does not net local funding or liabilities against local exposures as allowed by the FFIEC.

(5)

Gross local country exposure to Hong Kong consisted of $1,900 of consumer loans and $1,577 of commercial exposure at June 30, 2003. The consumer loans were collateralized primarily by residential real estate. The commercial exposure was primarily to local clients and was diversified across many industries.