Supplemental Information

Exhibit 99.2

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Supplemental Information

Third Quarter 2004

October 14, 2004

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

3rd Quarter 2004 Results

•

Net income of $3.76 billion or $0.91 per diluted share compared to a reported $0.93 in 2Q04.

Excluding merger and restructuring charges of $221 million, $147 million after tax, earnings were $0.95 per diluted share and even with 2Q04.

Merger and restructuring charges in 3Q04 include $156 million merger charge and $65 million for recently announced infrastructure initiative.

•

Revenue of $12.6 billion declined 3% on lower mortgage revenue and market related fees.

•

Mortgage banking loss of $250 million in 3Q04 includes lower originations, lower secondary marketing revenue as well as writedowns in the value of mortgage servicing rights.

Business Segment Revenue Results:

•

Consumer and Small Business revenue excluding mortgage increased 6% over 2Q04 driven by strong card revenue and customer account growth. Card income grew 9% over 2Q04 while service charges grew 5%.

•

Wealth and Investment Management revenue increased 4% over 2Q04 on improved lending and deposit taking.

•

Commercial Banking revenue improved 4% due to good leasing results as well as higher treasury service income.

•

Global Corporate and Investment Banking revenue decreased 21% reflecting the typical summer slowdown in capital markets activities and tightening credit spreads.

•

Securities gains in the quarter were $732 million as the company repositioned the securities portfolio for expected interest rate moves. Securities gains for 3Q04 include $117 million in gains related to hedging the mortgage portfolio.

•

Noninterest expense of $7.0 billion decreased 3% from 2Q04 on a reported basis.

•

Merger and restructuring charges were $221 million and $125 million in 3Q04 and 2Q04 respectively.

•

2Q04 included $300 million in litigation costs.

•

Additional cost savings as a result of the Fleet integration added another $103 million in 3Q04 to the $206 million achieved in 2Q04, bringing total reductions to $515 million year to date.

•

Provision expense of $650 million decreased 18% from 2Q04 driven by further improvements in asset quality.

•

Credit quality trends in 3Q04 continue to show improvement in commercial and large corporate businesses, while consumer businesses remain stable and are performing well.

•

Nonperforming assets fell $343 million, or 11%, to $2.84 billion while the ratio of NPAs to total loans, leases and foreclosed properties fell another 9 basis points to 0.55%. Commercial criticized exposure fell another 10% in 3Q04.

•

Net loan charge offs were $719 million in 3Q04 declining $110 million, or 13% from 2Q04. The ratio of net loan charge-offs to average loans and leases declined 10 basis points to 0.57%. Managed card charge off ratio fell to 5.48%.

•

Third quarter business highlights include:

•

Number of net new checking accounts in the quarter increased 537,000 bringing YTD net new account growth over 1.5 million.

•

Number of net new savings accounts in the quarter increased 624,000 bringing YTD net new account growth over 1.8 million.

•

Opened 1.6 million new credit card accounts due to improved point of sale technology.

•

Active users of online banking increased by 600,000 to 11.8 million while bill payment volume increased to more than $23 billion in 3Q04.

•

Total product sales in 3Q04 increased 21% over same period in 2003 on a proforma basis.

•

Total retail deposits continue to grow and have increased $39 billion or 11% over 2003 on a proforma basis.

•

Continuing moderate middle market loan growth as loans in Commercial Bank grew $1 billion during the quarter.

•

Continuing to increase market share in syndicated lending, currently at 20%.

•

Increased quarterly dividend 12% to $0.45 per share and split the common stock 2 for 1.

•

Merger integration ahead of schedule.

•

Cost savings are on track. $309 million in 3Q04.

•

Banking center rebranding on target as 621, or one-third, of branches have been completed.

•

Rolling out premier banking model and adding premier bankers in Northeast.

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Daily sales volume in legacy Fleet network has increased 37%.

•

Added 87,000 net new checking accounts and 81,000 net new savings accounts in legacy Fleet franchise in 3Q04, doubling production over 2Q04.

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Sales per day per sales associate in newly opened Manhattan centers exceeding goals.

•

“Cross-footprint” transaction volume is steadily increasing. During the final week of September customers completed 25,000 cross-footprint transactions, 60% of which were done by legacy Bank of America customers in former Fleet centers.

Bank of America Corporation

Consolidated Financial Highlights

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


	Year-to- Date 2004			Year-to- Date 2003			Third Quarter 2004			Second Quarter 2004			First Quarter 2004			Fourth Quarter 2003			Third Quarter 2003
Income statement
Total revenue	$	35,099		$	28,279		$	12,560		$	13,021		$	9,518		$	9,635		$	9,750
Provision for credit losses		2,063			2,256			650			789			624			583			651
Gains on sales of debt securities		2,022			802			732			795			495			139			233
Noninterest expense		19,612			14,867			6,994			7,201			5,417			5,288			5,077
Income tax expense		5,152			3,874			1,884			1,977			1,291			1,177			1,333
Net income		10,294			8,084			3,764			3,849			2,681			2,726			2,922
Diluted earnings per common share		2.76			2.65			0.91			0.93			0.91			0.92			0.96
Average diluted common shares issued and outstanding		3,729,120			3,047,046			4,121,375			4,131,290			2,933,402			2,978,962			3,039,282
Dividends paid per common share	$	1.25		$	1.04		$	0.45		$	0.40		$	0.40		$	0.40		$	0.40
Performance ratios
Return on average assets		1.34	%		1.43	%		1.35	%		1.40	%		1.27	%		1.39	%		1.48	%
Return on average common shareholders’ equity		17.32			21.85			15.56			16.63			22.16			22.42			23.74
Book value per share of common stock	$	24.14		$	16.92		$	24.14		$	23.51		$	16.85		$	16.63		$	16.92
Market price per share of common stock:
Closing price	$	43.33		$	39.02		$	43.33		$	42.31		$	40.49		$	40.22		$	39.02
High closing price for the period		44.98			41.77			44.98			42.72			41.38			41.25			41.77
Low closing price for the period		38.96			32.82			41.81			38.96			39.15			36.43			37.44
Market capitalization		175,446			116,236			175,446			171,891			117,056			115,911			116,236
Number of banking centers-domestic		5,829			4,211			5,829			5,774			4,272			4,277			4,211
Number of ATMs-domestic		16,728			13,120			16,728			16,672			13,168			13,241			13,120
Full-time equivalent employees		175,523			132,749			175,523			177,986			134,374			133,549			132,749

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data


	Year-to- Date 2004			Year-to- Date 2003			Third Quarter 2004			Second Quarter 2004			First Quarter 2004			Fourth Quarter 2003			Third Quarter 2003
Net interest income	$	21,557		$	16,362		$	7,836		$	7,751		$	5,970		$	5,745		$	5,477
Total revenue		35,609			28,763			12,731			13,191			9,687			9,794			9,923
Net interest yield		3.26	%		3.35	%		3.28	%		3.29	%		3.22	%		3.39	%		3.22	%
Efficiency ratio		55.07			51.69			54.94			54.59			55.92			53.98			51.16

Reconciliation to GAAP financial measures

Supplemental financial data presented on an operating basis is a basis of presentation not defined by GAAP (generally accepted accounting principles) that excludes merger and restructuring charges. We believe that the exclusion of the merger and restructuring charges, which represent incremental costs to integrate FleetBoston’s operations, provides a meaningful period-to-period comparison and is more reflective of normalized operations.

Shareholder value added (SVA) is a key measure of performance not defined by GAAP that is used in managing our growth strategy orientation and strengthening our focus on generating long-term growth and shareholder value. SVA is used in measuring the performance of our different business units and is an integral component for allocating resources. Each business segment has a goal for growth in SVA reflecting the individual segment’s business and customer strategy.

Other companies may define or calculate supplemental financial data differently. See the Tables below for supplemental financial data and corresponding reconciliation to GAAP financial measures for year-to-date ended September 30, 2004 and 2003, and the quarters ended September 30, 2004, June 30, 2004, March 31, 2004, December 31, 2003 and September 30, 2003.

Reconciliation of net income to operating earnings


	Year-to- Date 2004			Year-to- Date 2003			Third Quarter 2004			Second Quarter 2004			First Quarter 2004			Fourth Quarter 2003			Third Quarter 2003
Net income	$	10,294		$	8,084		$	3,764		$	3,849		$	2,681		$	2,726		$	2,922
Merger and restructuring charges		346			—			221			125			—			—			—
Related income tax benefit		(116	)		—			(74	)		(42	)		—			—			—

Operating earnings	$	10,524		$	8,084		$	3,911		$	3,932		$	2,681		$	2,726		$	2,922

Operating basis
Diluted earnings per common share	$	2.82		$	2.65		$	0.95		$	0.95		$	0.91		$	0.92		$	0.96
Return on average assets		1.37	%		1.42	%		1.40	%		1.43	%		1.27	%		1.39	%		1.48	%
Return on avg common shareholders’ equity		17.71			21.85			16.17			16.99			22.16			22.42			23.74
Efficiency ratio		54.10			51.69			53.20			53.64			55.92			53.98			51.16
Reconciliation of net income to shareholder value added
Net income	$	10,294		$	8,084		$	3,764		$	3,849		$	2,681		$	2,726		$	2,922
Amortization of intangibles		455			163			200			201			54			54			55
Merger and restructuring charges, net of tax benefit		230			—			147			83			—			—			—
Capital charge		(6,530	)		(4,069	)		(2,658	)		(2,542	)		(1,330	)		(1,337	)		(1,353	)

Shareholder value added	$	4,449		$	4,178		$	1,453		$	1,591		$	1,405		$	1,443		$	1,624

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Consolidated Statement of Income

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


	Year-to- Date 2004		Year-to- Date 2003		Third Quarter 2004			Second Quarter 2004		First Quarter 2004		Fourth Quarter 2003		Third Quarter 2003
Interest income
Interest and fees on loans and leases	$	20,294	$	16,088	$	7,508		$	7,237	$	5,549	$	5,580	$	5,328
Interest on debt securities		5,197		2,342		2,078			1,907		1,212		726		600
Federal funds sold and securities purchased under agreements to resell		1,331		867		484			413		434		506		480
Trading account assets		2,988		3,024		968			1,011		1,009		911		975
Other interest income		1,288		1,254		480			440		368		345		472

Total interest income		31,098		23,575		11,518			11,008		8,572		8,068		7,855

Interest expense
Deposits		4,446		3,730		1,711			1,529		1,206		1,178		1,278
Short-term borrowings		2,960		1,414		1,183			1,037		740		537		447
Trading account liabilities		965		969		333			298		334		317		345
Long-term debt		1,680		1,584		626			563		491		450		481

Total interest expense		10,051		7,697		3,853			3,427		2,771		2,482		2,551

Net interest income		21,047		15,878		7,665			7,581		5,801		5,586		5,304

Noninterest income
Service charges		5,098		4,182		1,899			1,783		1,416		1,436		1,458
Investment and brokerage services		2,539		1,752		945			972		622		619		594
Mortgage banking income (loss)		258		1,630		(250	)		299		209		292		666
Investment banking income		1,389		1,278		438			547		404		458		412
Equity investment gains		437		0		220			84		133		215		25
Card income		3,208		2,237		1,257			1,156		795		815		794
Trading account profits		600		382		184			413		3		27		175
Other income		523		940		202			186		135		187		322

Total noninterest income		14,052		12,401		4,895			5,440		3,717		4,049		4,446

Total revenue		35,099		28,279		12,560			13,021		9,518		9,635		9,750
Provision for credit losses		2,063		2,256		650			789		624		583		651
Gains on sales of debt securities		2,022		802		732			795		495		139		233
Noninterest expense
Personnel		9,941		7,749		3,540			3,639		2,762		2,697		2,595
Occupancy		1,731		1,492		622			621		488		514		522
Equipment		888		789		309			318		261		263		252
Marketing		1,012		717		364			367		281		268		249
Professional fees		521		620		194			180		147		224		214
Amortization of intangibles		455		163		200			201		54		54		55
Data processing		954		803		340			330		284		301		275
Telecommunications		514		413		180			183		151		158		152
Other general operating		3,250		2,121		1,024			1,237		989		809		763
Merger and restructuring charges		346		—		221			125		—		—		—

Total noninterest expense		19,612		14,867		6,994			7,201		5,417		5,288		5,077

Income before income taxes		15,446		11,958		5,648			5,826		3,972		3,903		4,255
Income tax expense		5,152		3,874		1,884			1,977		1,291		1,177		1,333

Net income	$	10,294	$	8,084	$	3,764		$	3,849	$	2,681	$	2,726	$	2,922

Net income available to common shareholders	$	10,283	$	8,081	$	3,759		$	3,844	$	2,680	$	2,725	$	2,921

Per common share information
Earnings	$	2.80	$	2.70	$	0.93		$	0.95	$	0.93	$	0.93	$	0.98

Diluted earnings	$	2.76	$	2.65	$	0.91		$	0.93	$	0.91	$	0.92	$	0.96

Dividends paid	$	1.25	$	1.04	$	0.45		$	0.40	$	0.40	$	0.40	$	0.40

Average common shares issued and outstanding		3,666,298		2,988,739		4,052,304			4,062,384		2,880,306		2,926,494		2,980,206

Average diluted common shares issued and outstanding		3,729,120		3,047,046		4,121,375			4,131,290		2,933,402		2,978,962		3,039,282

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Consolidated Balance Sheet


(Dollars in millions)	September 30 2004			June 30 2004			September 30 2003
Assets
Cash and cash equivalents	$	29,252		$	31,789		$	22,142
Time deposits placed and other short-term investments		11,021			10,418			6,881
Federal funds sold and securities purchased under agreements to resell		104,570			81,437			67,729
Trading account assets		102,925			85,972			65,339
Derivative assets		35,247			32,241			36,810
Debt securities:
Available-for-sale		163,438			166,175			62,757
Held-to-maturity, at cost		420			478			522

Total debt securities		163,858			166,653			63,279

Loans and leases		511,639			498,481			373,098
Allowance for loan and lease losses		(8,723	)		(8,767	)		(6,258	)

Loans and leases, net of allowance		502,916			489,714			366,840

Premises and equipment, net		7,884			7,797			5,956
Mortgage servicing rights		2,453			3,005			2,426
Goodwill		44,709			44,672			11,456
Core deposit intangibles and other intangibles		3,726			3,922			966
Other assets		80,435			79,582			87,722

Total assets	$	1,088,996		$	1,037,202		$	737,546

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	155,406		$	154,061		$	122,669
Interest-bearing		380,956			369,446			257,586
Deposits in foreign offices:
Noninterest-bearing		5,632			5,499			2,650
Interest-bearing		49,264			46,407			25,605

Total deposits		591,258			575,413			408,510

Federal funds purchased and securities sold under agreements to repurchase		142,992			119,264			79,775
Trading account liabilities		36,825			29,689			29,744
Derivative liabilities		19,039			20,519			25,120
Commercial paper and other short-term borrowings		71,434			69,495			41,739
Accrued expenses and other liabilities (includes $446, $486 and $458 of Reserve for unfunded lending commitments)		28,851			28,682			35,751
Long-term debt		100,586			98,319			66,462

Total liabilities		990,985			941,381			687,101

Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 1,090,189; 2,292,013 and 1,281,600 shares		271			322			55
Common stock, $0.01 par value, and additional paid-in capital; authorized - 7,500,000,000; 7,500,000,000; and 5,000,000 shares; issued and outstanding - 4,049,062,685; 4,062,656,866; and 2,978,874,412 shares		44,756			45,674			30
Retained earnings		55,979			54,024			52,305
Accumulated other comprehensive loss		(2,669	)		(3,862	)		(1,776	)
Other		(326	)		(337	)		(169	)

Total shareholders’ equity		98,011			95,821			50,445

Total liabilities and shareholders’ equity	$	1,088,996		$	1,037,202		$	737,546

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior period have not been restated.

Bank of America Corporation

Capital Management

(Dollars in millions)


	3Q04*			2Q04			1Q04			4Q03			3Q03
Tier 1 capital	$	62,981		$	61,883		$	45,515		$	44,050		$	46,094
Total capital		91,211			90,267			67,484			66,651			67,991
Risk-weighted assets		779,859			754,386			588,770			561,294			558,472
Tier 1 capital ratio		8.08	%		8.20	%		7.73	%		7.85	%		8.25	%
Total capital ratio		11.70			11.97			11.46			11.87			12.17
Ending equity / ending assets		9.00			9.24			5.98			6.52			6.84
Ending capital / ending assets		9.85			10.13			6.72			7.34			7.69
Average equity / average assets		8.68			8.42			5.73			6.19			6.22
Leverage ratio		5.92			5.83			5.43			5.73			5.95

*Preliminary

data on risk-based capital

Share Repurchase Program

40.4 million common shares were repurchased in the third quarter of 2004 as a part of ongoing share repurchase programs.

114.7 million shares remain outstanding under the 2004 authorized program.

26.8 million shares were issued in the third quarter of 2004.

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Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

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

(Dollars in millions)


	Third Quarter 2004						Second Quarter 2004						Third Quarter 2003
	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	$	14,726	$	127	3.45	%	$	14,384	$	59	1.65	%	$	10,062	$	41	1.63	%
Federal funds sold and securities purchased under agreements to resell		128,339		484	1.50			124,383		413	1.33			90,236		479	2.11
Trading account assets		98,459		983	3.99			104,391		1,027	3.94			96,105		991	4.11
Debt securities		169,515		2,095	4.94			159,797		1,925	4.82			63,423		616	3.89
Loans and leases⁽¹⁾:
Commercial - domestic		122,093		1,855	6.04			123,970		1,843	5.98			90,671		1,660	7.26
Commercial - foreign		18,251		245	5.34			18,144		237	5.24			12,448		111	3.53
Commercial real estate		30,792		344	4.44			30,311		317	4.20			19,961		213	4.23
Commercial lease financing		20,125		233	4.64			20,086		237	4.72			9,852		99	4.02

Total commercial		191,261		2,677	5.57			192,511		2,634	5.50			132,932		2,083	6.22

Residential mortgage		175,046		2,371	5.41			173,158		2,284	5.29			130,948		1,656	5.05
Home equity lines		44,309		514	4.62			40,424		450	4.48			22,539		255	4.48
Direct/Indirect consumer		38,951		538	5.49			39,763		540	5.44			33,278		488	5.82
Credit card		45,818		1,265	10.98			43,160		1,167	10.88			29,113		742	10.11
Other consumer⁽²⁾		7,693		152	7.91			8,142		169	8.32			8,478		138	6.48

Total consumer		311,817		4,840	6.19			304,647		4,610	6.07			224,356		3,279	5.82

Total loans and leases		503,078		7,517	5.95			497,158		7,244	5.85			357,288		5,362	5.97

Other earning assets		40,509		483	4.74			44,877		510	4.57			60,194		539	3.56

Total earning assets⁽³⁾		954,626		11,689	4.88			944,990		11,178	4.75			677,308		8,028	4.72

Cash and cash equivalents		29,469						30,320						22,662
Other assets, less allowance for loan and lease losses		126,029						132,997						86,185

Total assets	$	1,110,124					$	1,108,307					$	786,155

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,823	$	35	0.38	%	$	35,864	$	31	0.34	%	$	25,285	$	20	0.31	%
NOW and money market deposit accounts		233,602		523	0.89			233,702		488	0.84			151,424		249	0.65
Consumer CDs and IRAs		101,250		668	2.63			93,017		587	2.54			71,216		872	4.85
Negotiable CDs, public funds and other time deposits		5,654		69	4.85			4,737		66	5.60			7,770		25	1.27

Total domestic interest-bearing deposits		377,329		1,295	1.37			367,320		1,172	1.28			255,695		1,166	1.81

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		17,864		307	6.83			18,945		287	6.10			12,273		59	1.90
Governments and official institutions		5,021		22	1.80			5,739		23	1.58			2,033		6	1.21
Time, savings and other		29,513		87	1.17			29,882		47	0.64			18,792		47	1.00

Total foreign interest-bearing deposits		52,398		416	3.16			54,566		357	2.63			33,098		112	1.35

Total interest-bearing deposits		429,727		1,711	1.58			421,886		1,529	1.46			288,793		1,278	1.76

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		233,223		1,183	2.02			243,079		1,038	1.72			162,080		447	1.09
Trading account liabilities		37,706		333	3.51			31,620		297	3.78			36,903		345	3.71
Long-term debt⁽⁵⁾		98,361		626	2.54			96,395		563	2.34			66,788		481	2.88

Total interest-bearing liabilities⁽³⁾		799,017		3,853	1.92			792,980		3,427	1.74			554,564		2,551	1.83

Noninterest-bearing sources:
Noninterest-bearing deposits		158,151						160,419						125,776
Other liabilities		56,564						61,642						56,944
Shareholders’ equity		96,392						93,266						48,871

Total liabilities and shareholders’ equity	$	1,110,124					$	1,108,307					$	786,155

Net interest spread					2.96						3.01						2.89
Impact of noninterest-bearing sources					0.32						0.28						0.33

Net interest income/yield on earning assets			$	7,836	3.28	%			$	7,751	3.29	%			$	5,477	3.22	%

⁽¹⁾

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

⁽²⁾

Includes consumer finance, foreign consumer and consumer lease financing of $3,644, $3,304 and $745; $3,827, $3,256 and $1,058; $4,046, $1,950 and $2,482 in the third and second quarters of 2004 and in the third quarter of 2003, respectively.

⁽³⁾

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $531 and $659 in the third and second quarters of 2004, respectively, and $925 in the third quarter of 2003. 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 $217 and $333 in the third and second quarters of 2004, respectively, and $141 in the third quarter of 2003. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

⁽⁴⁾

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

⁽⁵⁾

Includes long-term debt related to Trust Securities.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

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

(Dollars in millions)


	Nine Months Ended September 30
	2004						2003
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	13,796	$	234	2.27	%	$	8,323	$	123	1.98	%
Federal funds sold and securities purchased under agreements to resell		122,184		1,331	1.45			72,839		867	1.59
Trading account assets		102,612		3,033	3.94			98,095		3,066	4.17
Debt securities		143,119		5,243	4.88			74,532		2,390	4.28
Loans and leases⁽¹⁾:
Commercial - domestic		112,371		5,209	6.19			94,517		5,117	7.24
Commercial - foreign		15,725		577	4.90			13,434		359	3.57
Commercial real estate		26,987		871	4.31			20,186		651	4.31
Commercial lease financing		16,570		565	4.55			10,092		302	3.99

Total commercial		171,653		7,222	5.62			138,229		6,429	6.22

Residential mortgage		163,410		6,615	5.40			121,862		4,941	5.41
Home equity lines		36,400		1,226	4.50			22,783		785	4.61
Direct/Indirect consumer		37,591		1,542	5.48			32,314		1,486	6.15
Credit card		41,443		3,302	10.64			26,685		2,076	10.40
Other consumer⁽²⁾		7,771		441	7.58			9,246		464	6.70

Total consumer		286,615		13,126	6.11			212,890		9,752	6.12

Total loans and leases		458,268		20,348	5.93			351,119		16,181	6.16

Other earning assets		41,398		1,419	4.57			46,627		1,432	4.10

Total earning assets⁽³⁾		881,377		31,608	4.79			651,535		24,059	4.93

Cash and cash equivalents		27,665						22,524
Other assets, less allowance for loan and lease losses		113,963						84,546

Total assets	$	1,023,005					$	758,605

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	32,963	$	83	0.33	%	$	24,216	$	89	0.49	%
NOW and money market deposit accounts		207,808		1,332	0.86			146,715		835	0.76
Consumer CDs and IRAs		89,911		1,822	2.71			69,235		2,309	4.46
Negotiable CDs, public funds and other time deposits		5,444		209	5.12			8,109		86	1.42

Total domestic interest-bearing deposits		336,126		3,446	1.37			248,275		3,319	1.79

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		18,585		765	5.50			14,207		226	2.12
Governments and official institutions		5,153		64	1.67			2,071		20	1.32
Time, savings and other		26,826		171	0.85			18,693		165	1.18

Total foreign interest-bearing deposits		50,564		1,000	2.64			34,971		411	1.57

Total interest-bearing deposits		386,690		4,446	1.54			283,246		3,730	1.76

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		226,591		2,960	1.74			146,091		1,414	1.29
Trading account liabilities		34,634		965	3.72			36,798		969	3.52
Long-term debt⁽⁵⁾		91,229		1,680	2.46			67,702		1,584	3.12

Total interest-bearing liabilities⁽³⁾		739,144		10,051	1.82			533,837		7,697	1.93

Noninterest-bearing sources:
Noninterest-bearing deposits		145,268						118,739
Other liabilities		59,083						56,517
Shareholders’ equity		79,510						49,512

Total liabilities and shareholders’ equity	$	1,023,005					$	758,605

Net interest spread					2.97						3.00
Impact of noninterest-bearing sources					0.29						0.35

Net interest income/yield on earning assets			$	21,557	3.26	%			$	16,362	3.35	%

(1)

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

(2)

Includes consumer finance, foreign consumer and consumer lease financing of $3,823, $2,851 and $1,097 for the nine months ended September 30, 2004, respectively, and $4,204, $1,990 and $3,052 for the nine months ended September 30, 2003, respectively.

(3)

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $2,020 and $2,088 in the nine months ended September 30, 2004 and 2003, 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 $733 and $215 in the nine months ended September 30, 2004 and 2003, respectively. These amounts were substantially offset by corresponding decreases in the interest paid on the underlying liabilities.

(4)

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

(5)

Includes long-term debt related to Trust Securities.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Business Segment View

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Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Consumer and Small Business Banking Segment Results⁽¹⁾

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Total revenue⁽²⁾	$	19,268		$	15,587		$	7,025		$	7,153		$	5,090		$	5,344		$	5,561
Provision for credit losses		2,097			1,230			999			662			436			448			409
Net income		4,784			4,274			1,682			1,889			1,213			1,431			1,679
Shareholder value added		2,589			3,319			754			1,016			819			1,048			1,348
Return on average equity		20.97	%		44.12	%		17.35	%		20.52	%		30.98	%		37.49	%		50.13	%
Efficiency ratio⁽²⁾		50.54			48.96			49.85			49.03			53.62			50.55			45.76
Selected Average Balance Sheet Components
Total loans and leases	$	131,599		$	91,889		$	150,334		$	145,862		$	98,395		$	95,408		$	92,509
Total deposits		307,285			237,748			339,565			339,575			242,359			248,156			246,048
Total earning assets		315,168			239,819			349,673			347,677			247,776			253,135			249,386
Period End (in billions)
Mortgage servicing portfolio	$	254.2		$	245.9		$	254.2		$	253.3		$	247.6		$	246.5		$	245.9
Mortgage originations:
Retail		44.9			80.2			11.7			19.2			14.0			11.7			30.0
Wholesale		24.3			32.6			5.2			9.3			9.8			6.7			9.5

(1)

Consumer and Small Business major subsegments are Consumer Banking, Consumer Products and Small Business.

(2)

Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Consumer Customer Growth Momentum

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*	preliminary data

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with 11.8 million subscribers. This represents an active customer penetration rate of 48.4%.

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

4.8 million active bill pay users paid $23.5 billion worth of bills this quarter. The number of customers who sign up and use Bank of America’s Bill Pay Service continues to far surpass that of any other financial institution.

Currently, approximately 300 companies are presenting 11.6 million e-bills per quarter.

LOGO

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Consumer Credit Card Results

Included within Consumer Products

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures

Outstandings:
On-balance sheet (Period end)	$	47,521		$	30,993		$	47,521		$	42,195		$	36,087		$	34,814		$	30,993
Managed (Period end)		55,399			33,631			55,399			51,990			37,296			36,596			33,631
On-balance sheet (Average)		41,162			26,679			45,589			43,177			35,303			32,734			29,113
Managed (Average)		47,950			30,457			54,419			53,136			36,855			34,783			32,225
Managed Income Statement:
Total revenue	$	5,267		$	3,145		$	2,075		$	1,954		$	1,238		$	1,196		$	1,134
Provision for credit losses		2,220			1,421			994			760			466			555			539
Noninterest expense		1,371			815			480			553			338			312			270

Income before income taxes	$	1,676		$	909		$	601		$	641		$	434		$	329		$	325

Shareholder Value Added	$	884		$	414		$	342		$	338		$	204		$	152		$	150

Credit Quality:
On-balance sheet:
Charge-offs $	$	1,614		$	1,091		$	586		$	585		$	443		$	423		$	390
Charge-offs %		5.24	%		5.47	%		5.09	%		5.45	%		5.05	%		5.12	%		5.32	%
Managed:
Losses $	$	1,992		$	1,240		$	753		$	776		$	463		$	451		$	433
Losses %		5.55	%		5.44	%		5.48	%		5.88	%		5.05	%		5.14	%		5.33	%
Managed delinquency %:
30+		3.90	%		4.00	%		4.11	%		3.86	%		3.75	%		3.93	%		3.84	%
90+		1.88			1.82			1.88			1.76			1.81			1.77			1.76

Represents financial statement presentation with certain reclassifications to reflect securitization activity.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Commercial Banking Segment Results⁽¹⁾

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Total revenue⁽²⁾	$	4,771		$	3,316		$	1,821		$	1,746		$	1,204		$	1,201		$	1,165
Provision for credit losses		(30	)		360			(63	)		6			27			98			122
Net income		1,928			1,061			824			639			465			410			400
Shareholder value added		585			593			222			56			307			252			244
Return on average equity		15.15	%		24.12	%		14.42	%		11.55	%		31.41	%		27.68	%		27.26	%
Efficiency ratio⁽²⁾		37.83			39.63			34.23			41.44			38.05			40.09			36.85
Selected Average Balance Sheet Components
Total loans and leases	$	125,245		$	92,832		$	139,983		$	139,014		$	96,577		$	94,996		$	93,451
Total deposits		50,919			30,588			58,175			59,866			34,636			34,053			31,505
Total earning assets		130,382			97,266			145,705			144,564			100,709			99,734			98,531

⁽¹⁾

Commercial Banking major subsegments are Middle Market Banking, Commercial Real Estate Banking, Business Capital, Leasing and Dealer Financial Services.

⁽²⁾

Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking Segment Results⁽¹⁾

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Total revenue⁽²⁾	$	6,851		$	6,399		$	2,064		$	2,624		$	2,163		$	1,935		$	2,064
Provision for credit losses		(275	)		387			(155	)		(21	)		(99	)		(83	)		50
Net income		1,371			1,282			475			432			464			512			435
Shareholder value added		599			589			185			149			265			305			216
Return on average equity		18.78	%		19.83	%		17.30	%		16.05	%		24.91	%		26.38	%		21.30	%
Efficiency ratio⁽²⁾		73.38			63.40			72.87			75.82			70.92			65.62			66.57
Selected Average Balance Sheet Components
Total loans and leases	$	34,314		$	38,529		$	35,881		$	38,127		$	28,917		$	31,034		$	33,805
Total deposits		74,711			67,139			74,345			80,692			69,101			62,997			67,367
Total earning assets		273,975			234,764			277,622			282,143			270,614			250,495			262,187

⁽¹⁾

Global Corporate and Investment Banking offers clients a comprehensive range of global capabilities through three subsegments: Global Investment Banking, Global Credit Products and Global Treasury Services.

⁽²⁾

Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Trading-related Revenue
Net interest income⁽¹⁾	$	1,622		$	1,716		$	448		$	597		$	577		$	522		$	546
Trading account profits		795			560			137			390			268			26			148

Total trading-related revenue	$	2,417		$	2,276		$	585		$	987		$	845		$	548		$	694

Trading-related revenue by product
Fixed income	$	1,263		$	1,125		$	299		$	456		$	508		$	227		$	282
Interest rate⁽¹⁾		575			788			118			289			168			165			298
Foreign exchange		524			396			164			171			189			154			136
Equities⁽²⁾		120			283			40			83			(3	)		61			65
Commodities		12			(48	)		18			(4	)		(2	)		3			(10	)

Market-based trading-related revenue		2,494			2,544			639			995			860			610			771
Credit portfolio hedges⁽³⁾		(77	)		(268	)		(54	)		(8	)		(15	)		(62	)		(77	)

Total trading-related revenue	$	2,417		$	2,276		$	585		$	987		$	845		$	548		$	694


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Investment Banking Income
Securities underwriting	$	711		$	732		$	218		$	275		$	218		$	233		$	239
Syndications		388			320			129			174			85			128			101
Advisory services		217			166			66			73			78			80			54
Other		25			26			7			10			8			12			5

Total investment banking income	$	1,341		$	1,244		$	420		$	532		$	389		$	453		$	399

⁽¹⁾

Fully taxable-equivalent basis

⁽²⁾

Does not include commissions from equity transactions which were $494 and $481 for the nine months ended September 30, 2004 and 2003, respectively and $153, $168, $172, $167 and $166 for the three months ended September 30, 2004, June 30, 2004, March 31, 2004, December 31, 2003 and September 30, 2003.

⁽³⁾

Includes credit default swaps used for credit risk management.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate & Investment Banking Strategic Progress Continues

LOGO

Significant US market share gains

Banc of America Securities increased market share in leveraged loans, mergers & acquisitions, high yield, syndicated loans,

public finance, convertible debt, mortgage-backed securities and asset-backed securities.

•

#2 in leveraged loans at 21.0% market share

•

#2 syndicated lender, ranked by dollar volume, with 20% market share

•

#1 syndicated lender, ranked by number of deals

•

Convertible debt earned the #2 position with 10.5% market share

•

High yield debt market share increased over YTD03, from 9% to 12.2%

•

M&A increased to 10.0% from 6.1% in first nine months of 2003

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Wealth and Investment Management Segment Results⁽¹⁾

(Dollars in millions)


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Total revenue⁽²⁾	$	4,174		$	2,827		$	1,573		$	1,513		$	1,088		$	1,203		$	959
Provision for credit losses		(16	)		4			(17	)		10			(9	)		7			(1	)
Net income		1,107			806			469			392			246			428			256
Shareholder value added		544			542			246			172			126			313			166
Return on average equity		20.07	%		31.74	%		21.27	%		18.01	%		21.71	%		39.08	%		29.70	%
Efficiency ratio⁽²⁾		58.64			55.19			54.17			58.69			65.04			44.83			59.18
Selected Average Balance Sheet Components
Total loans and leases	$	42,740		$	37,681		$	45,646		$	44,109		$	38,434		$	37,660		$	37,159
Total deposits		76,522			52,045			87,904			77,069			64,467			59,784			55,503
Total earning assets		78,679			53,131			90,146			79,296			66,470			62,073			56,826
Period End (in billions)
Assets under management	$	429.5		$	281.2		$	429.5		$	439.6		$	298.7		$	296.7		$	281.2
Client brokerage assets		141.9			90.7			141.9			144.9			91.0			88.8			90.7
Assets in custody		104.0			47.3			104.0			105.2			50.6			49.9			47.3

Total client assets	$	675.4		$	419.2		$	675.4		$	689.7		$	440.3		$	435.4		$	419.2

⁽¹⁾

Wealth and Investment Management includes five primary subsegments: Columbia Management Group, The Private Bank, Banc of America Investments, Premier Banking and Other Services.

⁽²⁾

Fully taxable-equivalent basis

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Corporate Other Results⁽¹⁾

(Dollars in millions)


	Year-to-Date					Quarterly
	2004		2003			3 Qtr 04			2 Qtr 04		1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Total revenue⁽²⁾	$	545	$	634		$	248		$	155	$	142		$	111		$	174
Provision for credit losses		287		275			(114	)		132		269			113			71
Net income⁽³⁾		1,104		661			314			497		293			(55	)		152
Shareholder value added		132		(865	)		46			198		(112	)		(475	)		(350	)
Selected Average Balance Sheet Components
Total loans and leases	$	124,370	$	90,188		$	131,234		$	130,046	$	111,753		$	111,974		$	100,364
Total deposits		22,521		14,465			27,889			25,103		14,512			13,849			14,146
Total earning assets		290,664		182,001			325,039			312,419		234,157			192,427			183,800

Corporate Other Sub-Segment Results


	Year-to-Date						Quarterly
	2004			2003			3 Qtr 04			2 Qtr 04			1 Qtr 04			4 Qtr 03			3 Qtr 03
Key Measures
Latin America⁽⁴⁾
Total revenue⁽²⁾	$	541		$	28		$	264		$	268		$	9		$	6		$	6
Provision for credit losses		(106	)		64			(156	)		(7	)		57			25			12
Net income		184			(32	)		151			66			(33	)		(16	)		(7	)
Shareholder value added		97			(32	)		106			23			(32	)		(15	)		(7	)
Equity Investments
Total revenue⁽²⁾	$	101		($	200	)	$	114		$	6		($	19	)	($	56	)	($	80	)
Provision for credit losses		—			4			—			—			—			21			—
Net income		3			(183	)		47			(14	)		(30	)		(67	)		(69	)
Shareholder value added		(207	)		(351	)		(28	)		(94	)		(85	)		(124	)		(125	)
Other
Total revenue⁽²⁾	($	97	)	$	806		($	130	)	($	119	)	$	152		$	161		$	248
Provision for credit losses		393			207			42			139			212			67			59
Net income		917			876			116			445			356			28			228
Shareholder value added		242			(482	)		(32	)		269			5			(336	)		(218	)

⁽¹⁾

Corporate Other consists primarily of Latin America, Equity Investments, noninterest income, revenue and security gains and noninterest expense associated with the Asset and Liability Management (ALM) process, and the results of certain consumer finance and commercial lending businesses that are being liquidated.

⁽²⁾

Fully taxable-equivalent basis

⁽³⁾

Includes merger and restructuring charges, net of taxes, of $230 in year-to-date 2004, $147 in 3Q04 and $83 in 2Q04.

⁽⁴⁾

Excludes Mexico, which is included in Global Corporate and Investment Banking.

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

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Outstanding Loans and Leases

(Dollars in millions)


	September 30 2004		December 31 2003		Increase (Decrease) from 12/31/03
Commercial - domestic	$	122,211	$	91,491	$	30,720
Commercial - foreign		18,976		10,754		8,222
Commercial real estate⁽¹⁾		30,719		19,367		11,352
Commercial lease financing		19,991		9,692		10,299

Total commercial		191,897		131,304		60,593

Residential mortgage		179,673		140,513		39,160
Home equity lines		46,497		23,859		22,638
Direct/Indirect consumer		38,378		33,415		4,963
Credit card		47,554		34,814		12,740
Other consumer⁽²⁾		7,640		7,558		82

Total consumer		319,742		240,159		79,583

Total	$	511,639	$	371,463	$	140,176

⁽¹⁾

Includes domestic and foreign commercial real estate loans of $30,255 and $464 at September 30, 2004, respectively, and $19,043 and $324 at December 31, 2003, respectively.

⁽²⁾

Includes consumer finance, foreign consumer and consumer lease financing of $3,564, $3,433 and $643 at September 30, 2004, respectively, and $3,905, $1,969 and $1,684 at December 31, 2003, respectively.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Commercial Utilized Credit Exposure by Industry⁽¹⁾

(Dollars in millions)


	September 30 2004		June 30 2004		% Increase (Decrease) from 6/30/04
Real estate	$	36,575	$	36,668	(0	)%
Retailing		22,981		23,442	(2	)
Diversified financials		21,923		21,869	0
Banks		20,020		18,924	6
Education and government		17,237		16,011	8
Individuals and trusts		16,749		16,888	(1	)
Materials		13,867		13,736	1
Consumer durables and apparel		12,921		12,718	2
Transportation		12,645		12,282	3
Food, beverage and tobacco		12,129		11,067	10
Health care equipment and services		12,045		12,122	(1	)
Leisure and sports, hotels and restaurants		12,014		12,644	(5	)
Capital goods		11,984		11,785	2
Commercial services and supplies		10,874		10,924	(0	)
Energy		7,975		7,151	12
Media		6,125		7,082	(14	)
Insurance		6,015		5,487	10
Utilities		5,643		5,815	(3	)
Religious and social organizations		5,514		5,247	5
Food and staples retailing		3,205		3,344	(4	)
Technology hardware and equipment		3,161		3,313	(5	)
Telecommunication services		2,828		2,801	1
Software and services		2,378		2,451	(3	)
Automobiles and components		1,723		1,599	8
Pharmaceuticals and biotechnology		921		998	(8	)
Household and personal products		381		367	4
Other		11,360		6,915	64

Total	$	291,193	$	283,650	3

⁽¹⁾

Includes loans and leases, letters of credit, standby letters of credit and financial guarantees, and mark-to-market exposure for derivatives.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior period has not been restated.

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)


	3Q04			2Q04			1Q04			4Q03			3Q03
Commercial - domestic	$	991		$	1,246		$	1,229		$	1,388		$	1,746
Commercial - foreign		473			503			331			578			756
Commercial real estate		136			164			115			142			157
Commercial lease financing		243			257			66			127			114

Total commercial		1,843			2,170			1,741			2,235			2,773

Residential mortgage		532			537			486			531			563
Home equity lines		51			42			35			43			42
Direct/Indirect consumer		26			31			31			28			32
Other consumer		94			99			61			36			19

Total consumer		703			709			613			638			656

Total nonperforming loans and leases		2,546			2,879			2,354			2,873			3,429
Nonperforming securities⁽¹⁾		157			156			—			—			—
Foreclosed properties		133			144			131			148			228

Total nonperforming assets⁽²⁾	$	2,836		$	3,179		$	2,485		$	3,021		$	3,657

Loans past due 90 days or more and still accruing	$	1,052		$	939		$	795		$	860		$	788
Nonperforming assets / Total assets		0.26	%		0.31	%		0.30	%		0.41	%		0.50	%
Nonperforming assets / Total loans, leases and foreclosed properties		0.55			0.64			0.66			0.81			0.98
Nonperforming loans and leases / Total loans and leases		0.50			0.58			0.63			0.77			0.92
Allowance for credit losses:
Allowance for loan and lease losses	$	8,723		$	8,767		$	6,080		$	6,163		$	6,258
Reserve for unfunded lending commitments		446			486			401			416			458

Total	$	9,169		$	9,253		$	6,481		$	6,579		$	6,716

Allowance for loan and lease losses / Total loans and leases		1.70	%		1.76	%		1.62	%		1.66	%		1.68	%
Allowance for loan and lease losses / Total nonperforming loans and leases		343			305			258			215			183
Commercial criticized exposure	$	12,025		$	13,420		$	10,401		$	12,650		$	15,059
Commercial criticized exposure / Commercial utilized exposure		4.13	%		4.73	%		4.94	%		5.94	%		7.10	%

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

⁽¹⁾

Primarily related to international securities held in the available-for-sale portfolio.

⁽²⁾

Balances do not include $100, $103, $82, $202 and $82 of nonperforming assets, primarily loans held for sale, included in Other Assets at September 30, 2004, June 30, 2004, March 31, 2004, December 31, 2003 and September 30, 2003, respectively.

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Quarterly Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)


	3Q04					2Q04					1Q04					4Q03					3Q03
	Amt.			Ratio		Amt.			Ratio		Amt.			Ratio		Amount			Ratio		Amount		Ratio
Commercial - domestic	$	25		0.08	%	$	76		0.25	%	$	49		0.22	%	$	93		0.41	%	$	163	0.72	%
Commercial - foreign		(4	)	(0.09	)		66		1.47			106		3.98			76		2.60			58	1.84
Commercial real estate		1		0.02			(3	)	(0.04	)		(2	)	(0.05	)		9		0.18			13	0.26
Commercial lease financing		(3	)	(0.07	)		(3	)	(0.06	)		4		0.17			0		0.00			40	1.61

Total commercial		19		0.04			136		0.28			157		0.48			178		0.54			274	0.82

Residential mortgage		7		0.02			12		0.03			11		0.03			13		0.04			14	0.04
Home equity lines		2		0.02			4		0.05			4		0.07			(3	)	(0.04	)		2	0.02
Direct/Indirect consumer		56		0.57			49		0.50			48		0.56			48		0.57			39	0.47
Credit card		586		5.09			585		5.45			443		5.05			423		5.12			390	5.32
Other consumer⁽¹⁾		49		2.53			43		2.10			57		3.07			66		3.37			57	2.70

Total consumer		700		0.89			693		0.92			563		0.93			547		0.91			502	0.89

Total net charge-offs	$	719		0.57		$	829		0.67		$	720		0.77		$	725		0.77		$	776	0.86

By Business Segment:
Consumer & small business banking	$	662		1.75	%	$	665		1.83	%	$	499		2.05	%	$	485		2.02	%	$	453	1.94	%
Commercial banking		36		0.10			32		0.09			62		0.26			75		0.31			123	0.52
Global corporate & investment banking		1		0.01			69		0.72			89		0.96			50		0.50			96	0.90
Wealth & investment management		1		0.01			(4	)	(0.04	)		6		0.06			(1	)	(0.01	)		5	0.06
Corporate other		19		0.06			67		0.21			64		0.25			116		0.44			99	0.43

Total net charge-offs	$	719		0.57		$	829		0.67		$	720		0.77		$	725		0.77		$	776	0.86

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

⁽¹⁾

Includes lease financing of $7, $5, $10, $10 and $12 for the quarters ended September 30, 2004, June 30, 2004, March 31, 2004, December 31, 2003 and September 30, 2003, respectively.

LOGO

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.

Bank of America Corporation

Selected Emerging Markets ⁽¹⁾


*(Dollars in millions)*	Loans and Loan Commitments		Other Financing ⁽²⁾		Derivative Assets		Debt Securities/ Other Investments ^(3,4)		Total Cross- border Exposure ⁽⁵⁾		Local Country Exposure Net of Local Liabilities ⁽⁶⁾		Total Foreign Exposure September 30, 2004		Increase/ (Decrease) from December 31, 2003
*Region/Country*
Latin America
Argentina	$	275	$	74	$	0	$	81	$	430	$	16	$	446	$	135
Brazil ⁽⁷⁾		982		287		33		142		1,444		2,014		3,458		2,787
Chile		277		125		2		14		418		712		1,130		999
Mexico ⁽⁸⁾		786		142		196		1,952		3,076		0		3,076		293
Other Latin America ⁽⁹⁾		363		164		141		237		905		267		1,172		455

Total Latin America		2,683		792		372		2,426		6,272		3,009		9,282		4,669

Asia Pacific
Hong Kong		229		41		89		129		488		569		1,057		187
India		601		188		177		286		1,252		519		1,771		206
Singapore		203		30		52		83		368		0		368		(199	)
South Korea		356		578		32		169		1,135		388		1,523		(95	)
Taiwan		319		105		41		11		476		53		529		(12	)
Other Asia Pacific ⁽⁹⁾		89		104		61		351		605		197		802		(74	)

Total Asia Pacific		1,797		1,046		452		1,029		4,324		1,726		6,050		13

Central and Eastern Europe ⁽⁹⁾		12		13		23		173		221		0		221		(49	)

Total	$	4,492	$	1,851	$	847	$	3,627	$	10,817	$	4,735	$	15,553		4,633

⁽¹⁾

There is no generally accepted definition of emerging markets. The definition that we use includes all countries in Asia Pacific excluding Japan, Australia and New Zealand; and all countries in Central and Eastern Europe excluding Greece.

⁽²⁾

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

⁽³⁾

Amounts outstanding for Other Latin America and Other Asia Pacific have been reduced by $192 and $14, respectively, at September 30, 2004 and $173 and $13, respectively, at December 31, 2003. Such amounts represent the fair value of U.S. Treasury securities held as collateral outside the country of exposure.

⁽⁴⁾

Cross-border resale agreements are presented based on the domicile of the counterparty because the counterparty has the legal obligation for repayment. For regulatory reporting under Federal Financial Institutions Examinations Council (FFIEC) guidelines, cross-border resale agreements are presented based on the domicile of the issuer of the securities that are held as collateral.

⁽⁵⁾

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

⁽⁶⁾

Local country exposure includes amounts payable to the Corporation by borrowers with a country of residence in which the credit is booked, regardless of the currency in which the claim is denominated. Management subtracts local funding or liabilities from local exposures as allowed by the FFIEC. Total amount of local country exposure funded by local liabilities at September 30, 2004 was $14,136 compared to $5,336 at December 31, 2003. Local country exposure funded by local liabilities at September 30, 2004 in Latin America and Asia Pacific was $8,285 and $5,851, respectively, of which $3,652 was in Brazil, $1,555 in Argentina, $1,145 in Chile, $3,073 in Hong Kong and $1,128 in Singapore. There were no other countries with local country exposure funded by local liabilities greater than $1.0 billion.

⁽⁷⁾

The Corporation has certain risk mitigation instruments associated with Brazil exposure, including insurance contracts, other trade-related transfer risk mitigation and third party funding. Ability to file a claim under insurance policies may vary with the country’s current political and economic environment.

⁽⁸⁾

Includes $1,800 related to Grupo Financiero Santander Serfin acquired in the first quarter of 2003.

⁽⁹⁾

Other Latin America, Other Asia Pacific, and Central and Eastern Europe include countries each with total foreign exposure of less than $500.


Risk Mitigation	Brazil
Total foreign exposure, September 30, 2004	$	3,458
Less: Insurance contracts		422
Other trade-related transfer risk mitigation		962
Third party funding		230

Total foreign exposure net of risk mitigation, September 30, 2004	$	1,844

Information for periods after April 1, 2004 includes the FleetBoston acquisition; prior periods have not been restated.