Exhibit 99.4

FLEETBOSTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF INCOME

(unaudited)

See accompanying Notes to Condensed Consolidated Financial Statements.

1

FLEETBOSTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

See accompanying Notes to Condensed Consolidated Financial Statements.

2

FLEETBOSTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

(unaudited)

See accompanying Notes to Condensed Consolidated Financial Statements.

3

FLEETBOSTON FINANCIAL CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(unaudited)

See accompanying Notes to Condensed Consolidated Financial Statements.

4

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

NOTE 1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation. Unless otherwise indicated or unless the context requires otherwise, all references in these notes to condensed consolidated financial statements to “FleetBoston,” “we,” “us,” “our” or similar references mean FleetBoston Financial Corporation. As of March 31, 2004, we were organized along five principal lines of business: Personal Financial Services; Regional Commercial Financial Services and Investment Management; National Commercial Financial Services; International Banking; and Capital Markets, and had approximately $200 billion in assets.

The interim condensed consolidated financial statements accompanying these notes are unaudited. In the opinion of management, all adjustments (consisting only of normal recurring adjustments) necessary for a fair statement of the results of operations in these financial statements have been made. The preparation of consolidated financial statements requires management to make estimates and assumptions in the application of certain accounting policies that materially affect the reported amounts of assets, liabilities, revenues and expenses. You should read these condensed consolidated financial statements and related notes together with the financial information in our 2003 10-K, which we previously filed with the Securities and Exchange Commission, or “SEC.” We have reclassified certain amounts reported in prior periods to conform to current period classifications. Information provided in these notes to condensed consolidated financial statements reflects continuing operations, unless otherwise noted.

Stock-Based Compensation. During 2002, effective for stock options granted subsequent to January 1, 2002, we adopted the fair value accounting provisions of Statement of Financial Accounting Standards, or “SFAS,” No. 123, “Accounting for Stock-Based Compensation,” and elected to account for this adoption prospectively. We continue to account for stock options granted prior to January 1, 2002 using the intrinsic value method under previously issued accounting standards, under which no compensation expense is recorded.

The following table presents net income and earnings per share, as reported, and on a pro forma basis as if the fair value accounting provisions of SFAS No. 123 had been applied to all stock-based awards granted since the standard’s effective date.

5

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

Recent Accounting Developments. As we disclosed in Note 1 to the Consolidated Financial Statements in our 2003 10-K, in December 2003, the Financial Accounting Standards Board, or “FASB,” issued a revision to its Interpretation No. 46, entitled “Consolidation of Variable Interest Entities,” or “Interpretation 46R,” which provided additional accounting guidance with respect to variable interest entities, or “VIEs.” During the first quarter of 2004, we fully adopted the provisions of Interpretation 46R for all of our VIEs. This adoption did not result in the consolidation of any additional VIEs. In addition, the deconsolidation of our statutory business trusts and related trust preferred securities was deemed appropriate.

NOTE 2. SUBSEQUENT EVENT

On April 1, 2004, we merged with Bank of America, a global financial services company headquartered in Charlotte, North Carolina, with Bank of America the surviving company. Bank of America had consolidated total assets of approximately $816 billion at March 31, 2004. The merger was accounted for by Bank of America using the purchase method of accounting, and approximately 1,068 million shares of FleetBoston common stock were exchanged for approximately 593 million shares of Bank of America common stock, based on an exchange ratio of .5553 shares of Bank of America common stock for each share of FleetBoston common stock. In connection with the merger, we recorded $33 million of related costs during the first quarter of 2004, including $25 million of advisory fees, which we recorded in legal and other professional expense in the accompanying condensed consolidated statement of income.

NOTE 3. LOANS AND LEASES

The following table presents consolidated loan and lease financing balances:

Consolidated lease financing balances included aggregate investments in leveraged leases of approximately $4 billion at both March 31, 2004 and December 31, 2003, and aggregate operating leases to corporate customers of $1.1 billion and $1.2 billion at March 31, 2004 and December 31, 2003, respectively.

At March 31, 2004 and December 31, 2003, nonperforming assets, or “NPAs,” totaled $1.2 billion and $2 billion, respectively, including $1.1 billion of nonperforming loans, or “NPLs,” and $160 million of other NPAs at March 31, 2004, compared with $1.6 billion of NPLs and $378 million of other NPAs at December 31, 2003. Total NPAs at March 31, 2004 and December 31, 2003 included $498 million and $1 billion, respectively, related to Argentina. The decline in Argentine NPAs resulted primarily from sales of Argentine loans and compensation bonds, both of which are discussed in Note 6.

NPAs included impaired loans of $915 million and $1.4 billion at March 31, 2004 and December 31, 2003, respectively.

The following table presents information related to impaired loans, which we have defined as all commercial and commercial real estate loans on nonaccrual status and troubled debt restructurings.

6

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

NOTE 4. RESERVE FOR CREDIT LOSSES

A summary of activity in the reserve for credit losses follows:

The reserve for credit losses as of March 31, 2004 and 2003 included $381 million and $681 million, respectively, specifically allocated to Argentina, including an allocated transfer risk reserve, or “ATRR,” required by banking regulators of $43 million and $296 million, respectively, at March 31, 2004 and 2003. The decline in the Argentine reserve allocation and ATRR was primarily due to the decline in loans throughout 2003 and our sale of certain Argentine loans in 2004, which is discussed in Note 6.

There was no provision for credit losses for the period ended March 31, 2004, as compared to $280 million for the period ended March 31, 2003. No provision was recorded in the current period as we sold a substantial portion of Argentine nonperforming loans, resulting in a net reduction in required reserves, and the portfolio experienced an overall improvement in credit quality due to improved economic conditions.

NOTE 5. GOODWILL AND INTANGIBLE ASSETS

The carrying value of goodwill was $4.4 billion at March 31, 2004 and $4.3 billion at December 31, 2003. During the first quarter of 2004, we recorded approximately $142 million of goodwill in connection with our acquisition of Progress Financial Corporation, or “Progress,” and no impairment losses were recognized. During the first quarter of 2003, no goodwill was acquired and no impairment losses were recognized.

At March 31, 2004, the carrying value of goodwill by major line of business was $1.9 billion for Personal Financial Services, $1.5 billion for Regional Commercial Financial Services and Investment Management, $.6 billion for National Commercial Financial Services, $.3 billion for Capital Markets and $.1 billion for International Banking.

The following table presents the gross carrying value and accumulated amortization for significant intangible assets subject to amortization at March 31, 2004 and December 31, 2003.

The total net carrying value of all intangible assets subject to amortization, including core deposit intangibles, which are insignificant and are not included in the table above, at March 31, 2004 and December 31, 2003 was $229 million and $235 million, respectively. Related amortization expense for the three months ended March 31, 2004 and 2003 was $21 million and $20 million, respectively. In connection with the Progress acquisition, we recorded a core deposit intangible of approximately $14.7 million.

The carrying value of indefinite-lived intangible assets was $63 million at both March 31, 2004 and December 31, 2003.

NOTE 6. COUNTRY RISK – ARGENTINE OPERATIONS

This note provides information about significant developments during the first quarter of 2004 concerning our operations in Argentina. More detailed information about these operations, and the overall economic situation in Argentina, is provided in the Country Risk section of Management’s Discussion and Analysis in our 2003 10-K.

In December 2001, the Argentine government issued an order imposing limitations on the ability of bank customers in Argentina to withdraw funds from their deposit and mutual fund accounts in Argentine banks, known as the “corralito.” Since the corralito was issued, a large number of customers of our Argentine operation, or “BankBoston Argentina,” have filed complaints in the Argentine courts against BankBoston Argentina seeking to invalidate the corralito on constitutional grounds and withdraw their funds.

As a result of the judicial deposit claims, we have recorded approximately $363 million of cumulative pre-tax charges through March 31, 2004. These losses represented the impact of paying depositors

7

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

at the current exchange rate versus the 1.40 exchange rate originally used to convert U.S. dollar deposits into pesos as part of the Argentine government’s economic measures instituted in early 2002 to deal with that country’s economic crisis.

During the first quarter of 2004, the banking sector continued to incur losses from judicial claims that allowed depositors to claim from banks the original dollar value of their deposits that the government converted into pesos in 2002. In light of these continued claims and the absence of any action by the Argentine government or judicial system to halt these claims, we recorded an additional $30 million of reserve through a charge to foreign exchange revenue, a component of capital markets-related revenue, to accrue for expected future claims. As of March 31, 2004, the reserve balance of $116 million reflected management’s current estimate, after considering various possible outcomes based on current available information and their related consequences, of the aggregate impact of customer deposit claims.

During the first quarter of 2004, BankBoston Argentina received a reimbursement of $30 million from the Argentine Central Bank for the early 2002 pesofication of local branch deposits with the Central Bank in excess of required reserves. This reimbursement was recorded in other noninterest income.

During 2002, we received U.S. dollar-denominated bonds from the Argentine government as compensation for the impact of their asymmetric pesofication of the balance sheet in 2001. During the fourth quarter of 2003, these compensation bonds, which were nonperforming, were reclassified from securities held to maturity to securities available for sale, and we subsequently sold $52 million of the bonds and recorded aggregate pre-tax gains of $22 million. During the first quarter of 2004, we sold an additional $200 million of the bonds and recorded aggregate pre-tax gains of $100 million in securities gains/losses, a component of capital markets-related revenue. At March 31, 2004, the remaining compensation bonds were carried at an aggregate fair value of $83 million, with a related $25 unrealized gain recorded, net of tax, in other comprehensive income, a component of stockholders’ equity.

During the first quarter of 2004, the Argentine Central Bank issued a new regulation which modified the previous calculation for determining the denomination of the above-mentioned compensation bonds. This regulation would require BankBoston Argentina to return to the Central Bank a portion of the compensation bonds received during 2002 in exchange for an equivalent amount of peso-denominated bonds. In light of this situation, management assessed the potential impact that the new regulation could have on our Argentine operations and determined that a reserve of $50 million was appropriate as of March 31, 2004. This reserve was recorded through a charge to securities gains/losses.

During the first quarter of 2004, we completed the previously disclosed sale of certain Argentine loans with an aggregate carrying value of approximately $390 million, of which two-thirds were nonperforming. The sale resulted in net charge-offs of approximately $25 million.

NOTE 7. COMMITMENTS AND CONTINGENCIES

In the normal course of business, we enter into numerous agreements that contain features which meet the definition of a guarantee under current accounting standards. A guarantee is defined as a contract that contingently requires us to make payments (either in cash, financial instruments, other assets, shares of our stock or provision of services) to a third party based on specified changes in an underlying variable that is related to an asset, a liability or an equity security of the related party. Significant guarantees provided by FleetBoston to third parties include standby financial and performance letters of credit and financial guarantees, as well as credit derivatives, market value guarantees for customers, and earn-out agreements associated with business combinations. More information about guarantees is provided in Note 10 to the Consolidated Financial Statements in our 2003 10-K.

We are involved in various legal and regulatory proceedings arising out of, and incidental to, our respective businesses. More information concerning certain of these matters is provided in Note 10 to the Consolidated Financial Statements in our 2003 10-K and in Note 7 to the Consolidated Financial Statements in Bank of America’s first quarter 2004 report on Form 10-Q.

In the normal course of business, we are subject to challenges from U.S. and non-U.S. tax authorities regarding amounts of tax due. These challenges may alter the timing or amount of taxable income or deductions, or the allocation of income among tax jurisdictions. The Internal Revenue Service, or “IRS,” is conducting an examination of our federal income tax returns for the years ended December 31, 1998, 1999, and 2000. During 2003, the IRS completed its examination of our federal income tax returns for the years ended December 31, 1995, 1996, and 1997, and has issued Notices of Proposed Adjustment with respect to our tax treatment of certain leveraged lease investments that were entered into during the examination years. Management believes that the proposed IRS adjustments are inconsistent with existing law and intends to defend our position.

8

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

NOTE 8. EARNINGS PER SHARE

A summary of the calculation of earnings per common share follows:

For the three months ended March 31, 2004 and 2003, outstanding common stock options and awards totaling 4.7 million and 83.7 million shares, respectively, were excluded from the calculation of diluted earnings per common share because the impact of such stock options and awards was antidilutive.

NOTE 9. EMPLOYEE BENEFITS

We maintain both qualified and nonqualified noncontributory defined benefit pension plans. The qualified plans are funded in compliance with the Employee Retirement Income Security Act of 1974 and the Internal Revenue Code of 1986, as amended. We also provide certain postretirement health and life insurance benefits for eligible retired domestic employees. Postretirement benefits are accrued over the service lives of the employees. The measurement date for all of our benefit plans is December 31.

9

FLEETBOSTON FINANCIAL CORPORATION

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

MARCH 31, 2004

(unaudited)

The following table presents the components of net periodic benefit expense for our pension and other postretirement benefit plans for the three months ended March 31, 2004 and 2003.

Pension and Postretirement Benefit Expense