Supplemental Information

Exhibit 99.2

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Supplemental Information

Fourth Quarter 2005

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

Consolidated Financial Highlights

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


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Income statement
Total revenue	$	56,766		$	48,879		$	14,122		$	14,607		$	14,015		$	14,022		$	13,713
Provision for credit losses		4,014			2,769			1,400			1,159			875			580			706
Gains on sales of debt securities		1,084			2,123			71			29			325			659			101
Noninterest expense		28,681			27,012			7,320			7,285			7,019			7,057			7,333
Income tax expense		8,269			7,078			1,705			2,065			2,150			2,349			1,926
Net income		16,886			14,143			3,768			4,127			4,296			4,695			3,849
Diluted earnings per common share		4.15			3.69			0.93			1.02			1.06			1.14			0.94
Average diluted common shares issued and outstanding		4,068,140			3,823,943			4,053,859			4,054,659			4,065,355			4,099,062			4,106,040
Dividends paid per common share	$	1.90		$	1.70		$	0.50		$	0.50		$	0.45		$	0.45		$	0.45

Performance ratios
Return on average assets		1.33	%		1.35	%		1.15	%		1.26	%		1.35	%		1.59	%		1.33	%
Return on average common shareholders’ equity		17.03			16.83			15.05			16.33			17.54			19.30			15.63

At period end
Book value per share of common stock	$	25.24		$	24.56		$	25.24		$	25.16		$	24.96		$	24.35		$	24.56
Market price per share of common stock:
Closing price	$	46.15		$	46.99		$	46.15		$	42.10		$	45.61		$	44.10		$	46.99
High closing price for the period		47.08			47.44			46.99			45.98			47.08			47.08			47.44
Low closing price for the period		41.57			38.96			41.57			41.60			44.01			43.66			43.62
Market capitalization		184,586			190,147			184,586			168,950			183,202			177,958			190,147
Number of banking centers - domestic		5,873			5,885			5,873			5,844			5,880			5,889			5,885
Number of ATMs - domestic		16,785			16,771			16,785			16,714			16,687			16,798			16,771
Full-time equivalent employees		176,638			178,053			176,638			177,236			177,795			176,675			178,053

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 Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net interest income	$	31,989		$	29,511		$	8,103		$	7,973		$	7,841		$	8,072		$	7,954
Total revenue		57,599			49,596			14,365			14,807			14,206			14,221			13,920
Net interest yield		2.88	%		3.26	%		2.82	%		2.80	%		2.81	%		3.11	%		3.18	%
Efficiency ratio		49.79			54.46			50.95			49.20			49.42			49.62			52.69

Reconciliation to GAAP financial measures

Supplemental financial data presented on an operating basis is a basis of presentation not defined by accounting principles generally accepted in the United States (GAAP) that excludes merger and restructuring charges. We believe that the exclusion of merger and restructuring charges, which represent events outside our normal 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 to evaluate the Corporation’s use of equity (i.e. capital) at the individual unit level and is an integral component in the analytics for resource allocation. Using SVA as a performance measure places specific focus on whether incremental investments generate returns in excess of the costs of capital associated with those investments. 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 reconciliations to GAAP financial measures for the quarters ended December 31, 2005, September 30, 2005, June 30, 2005, March 31, 2005 and December 31, 2004, and the year ended December 31, 2005 and 2004.

Reconciliation of net income to operating earnings


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net income	$	16,886		$	14,143		$	3,768		$	4,127		$	4,296		$	4,695		$	3,849
Merger and restructuring charges		412			618			59			120			121			112			272
Related income tax benefit		(137	)		(207	)		(19	)		(40	)		(41	)		(37	)		(91	)

Operating earnings	$	17,161		$	14,554		$	3,808		$	4,207		$	4,376		$	4,770		$	4,030

Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Average common shareholders’ equity	$	99,025		$	83,953		$	99,209		$	100,183		$	98,145		$	98,542		$	97,828
Average goodwill and other intangibles		(48,880	)		(39,796	)		(48,644	)		(48,766	)		(48,968	)		(49,148	)		(49,413	)

Average tangible common shareholders’ equity	$	50,145		$	44,157		$	50,565		$	51,417		$	49,177		$	49,394		$	48,415

Operating basis
Diluted earnings per common share	$	4.21		$	3.80		$	0.94		$	1.04		$	1.08		$	1.16		$	0.98
Return on average assets		1.35	%		1.39	%		1.16	%		1.29	%		1.37	%		1.61	%		1.39	%
Return on average common shareholders’ equity		17.31			17.32			15.21			16.64			17.87			19.61			16.37
Return on average tangible common shareholders’ equity		34.19			32.93			29.84			32.43			35.66			39.12			33.08
Efficiency ratio		49.08			53.22			50.54			48.39			48.56			48.83			50.73
Reconciliation of net income to shareholder value added
Net income	$	16,886		$	14,143		$	3,768		$	4,127		$	4,296		$	4,695		$	3,849
Amortization of intangibles		809			664			196			201			204			208			209
Merger and restructuring charges, net of tax benefit		275			411			40			80			80			75			181
Capital charge		(10,893	)		(9,235	)		(2,751	)		(2,778	)		(2,691	)		(2,673	)		(2,705	)

Shareholder value added	$	7,077		$	5,983		$	1,253		$	1,630		$	1,889		$	2,305		$	1,534

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 Ended December 31				Fourth Quarter 2005		Third Quarter 2005		Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
	2005		2004		Fourth Quarter 2005		Third Quarter 2005		Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
Interest income
Interest and fees on loans and leases	$	34,934	$	28,213	$	9,559	$	8,956	$	8,312	$	8,107	$	7,919
Interest and dividends on securities		10,949		7,262		2,819		2,797		2,799		2,534		2,065
Federal funds sold and securities purchased under agreements to resell		4,979		2,043		1,462		1,372		1,252		893		712
Trading account assets		5,743		4,016		1,585		1,550		1,426		1,182		1,035
Other interest income		2,091		1,690		605		547		502		437		464

Total interest income		58,696		43,224		16,030		15,222		14,291		13,153		12,195

Interest expense
Deposits		9,295		6,275		2,434		2,439		2,379		2,043		1,829
Short-term borrowings		11,798		4,434		3,902		3,250		2,677		1,969		1,543
Trading account liabilities		2,364		1,317		619		707		611		427		352
Long-term debt		4,083		2,404		1,215		1,053		974		841		724

Total interest expense		27,540		14,430		8,170		7,449		6,641		5,280		4,448

Net interest income		31,156		28,794		7,860		7,773		7,650		7,873		7,747

Noninterest income
Service charges		7,704		6,989		1,927		2,080		1,920		1,777		1,891
Investment and brokerage services		4,184		3,614		1,062		1,060		1,049		1,013		1,008
Mortgage banking income		805		414		215		180		189		221		156
Investment banking income		1,856		1,886		537		522		431		366		497
Equity investment gains		2,040		863		481		668		492		399		426
Card income		5,753		4,592		1,507		1,520		1,437		1,289		1,380
Trading account profits		1,812		869		253		514		285		760		269
Other income		1,456		858		280		290		562		324		339

Total noninterest income		25,610		20,085		6,262		6,834		6,365		6,149		5,966

Total revenue		56,766		48,879		14,122		14,607		14,015		14,022		13,713
Provision for credit losses		4,014		2,769		1,400		1,159		875		580		706
Gains on sales of debt securities		1,084		2,123		71		29		325		659		101
Noninterest expense
Personnel		15,054		13,435		3,845		3,837		3,671		3,701		3,520
Occupancy		2,588		2,379		699		638		615		636		648
Equipment		1,199		1,214		305		300		297		297		326
Marketing		1,255		1,349		265		307		346		337		337
Professional fees		930		836		283		254		216		177		275
Amortization of intangibles		809		664		196		201		204		208		209
Data processing		1,487		1,330		394		361		368		364		371
Telecommunications		827		730		219		206		196		206		216
Other general operating		4,120		4,457		1,055		1,061		985		1,019		1,159
Merger and restructuring charges		412		618		59		120		121		112		272

Total noninterest expense		28,681		27,012		7,320		7,285		7,019		7,057		7,333

Income before income taxes		25,155		21,221		5,473		6,192		6,446		7,044		5,775
Income tax expense		8,269		7,078		1,705		2,065		2,150		2,349		1,926

Net income	$	16,886	$	14,143	$	3,768	$	4,127	$	4,296	$	4,695	$	3,849

Net income available to common shareholders	$	16,868	$	14,127	$	3,764	$	4,122	$	4,292	$	4,690	$	3,844

Per common share information
Earnings	$	4.21	$	3.76	$	0.94	$	1.03	$	1.07	$	1.16	$	0.95

Diluted earnings	$	4.15	$	3.69	$	0.93	$	1.02	$	1.06	$	1.14	$	0.94

Dividends paid	$	1.90	$	1.70	$	0.50	$	0.50	$	0.45	$	0.45	$	0.45

Average common shares issued and outstanding		4,008,688		3,758,507		3,996,024		4,000,573		4,005,356		4,032,550		4,032,979

Average diluted common shares issued and outstanding		4,068,140		3,823,943		4,053,859		4,054,659		4,065,355		4,099,062		4,106,040

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)*	December 31 2005			September 30 2005			December 31 2004
Assets
Cash and cash equivalents	$	36,999		$	32,771		$	28,936
Time deposits placed and other short-term investments		12,800			11,236			12,361
Federal funds sold and securities purchased under agreements to resell		149,785			135,409			91,360
Trading account assets		131,707			121,256			93,587
Derivative assets		23,712			26,005			30,235
Securities:
Available-for-sale		221,556			227,349			194,743
Held-to-maturity, at cost		47			136			330

Total securities		221,603			227,485			195,073

Loans and leases		573,782			554,603			521,837
Allowance for loan and lease losses		(8,045	)		(8,326	)		(8,626	)

Loans and leases, net of allowance		565,737			546,277			513,211

Premises and equipment, net		7,786			7,659			7,517
Mortgage servicing rights		2,807			2,764			2,482
Goodwill		45,354			45,298			45,262
Core deposit intangibles and other intangibles		3,194			3,356			3,887
Other assets		90,311			92,743			86,546

Total assets	$	1,291,795		$	1,252,259		$	1,110,457

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	179,571		$	174,990		$	163,833
Interest-bearing		384,155			390,973			396,645
Deposits in foreign offices:
Noninterest-bearing		7,165			6,750			6,066
Interest-bearing		63,779			53,764			52,026

Total deposits		634,670			626,477			618,570

Federal funds purchased and securities sold under agreements to repurchase		240,655			217,053			119,741
Trading account liabilities		50,890			51,244			36,654
Derivative liabilities		15,000			15,711			17,928
Commercial paper and other short-term borrowings		116,269			107,655			78,598
Accrued expenses and other liabilities (includes $395, $390 and $402 of reserve for unfunded lending commitments)		31,749			32,976			41,243
Long-term debt		101,338			99,885			98,078

Total liabilities		1,190,571			1,151,001			1,010,812

Shareholders’ equity
Preferred stock, $0.01 par value; authorized - 100,000,000 shares; issued and outstanding - 1,090,189 shares		271			271			271
Common stock and additional paid-in capital, $0.01 par value; authorized - 7,500,000,000 shares; issued and outstanding - -3,999,688,491; 4,013,063,444 and 4,046,546,212 shares		41,693			42,548			44,236
Retained earnings		67,205			65,439			58,006
Accumulated other comprehensive income (loss)		(7,518	)		(6,509	)		(2,587	)
Other		(427	)		(491	)		(281	)

Total shareholders’ equity		101,224			101,258			99,645

Total liabilities and shareholders’ equity	$	1,291,795		$	1,252,259		$	1,110,457

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

Capital Management

(Dollars in millions)


	Fourth Quarter 2005⁽¹⁾			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Tier 1 capital	$	74,027		$	73,030		$	68,806		$	67,127		$	64,281
Total capital		99,554			98,989			94,933			93,774			92,266
Risk-weighted assets		901,693			889,979			853,669			818,179			793,523
Tier 1 capital ratio		8.21	%		8.21	%		8.06	%		8.20	%		8.10	%
Total capital ratio		11.04			11.12			11.12			11.46			11.63
Tangible equity ratio⁽²⁾		4.24			4.37			4.32			4.25			4.76
Leverage ratio		5.89			5.85			5.59			5.82			5.82

⁽¹⁾

Preliminary data on risk-based capital

⁽²⁾

Tangible equity ratio equals shareholders’ equity less goodwill, core deposit intangibles and other intangibles divided by total assets less goodwill, core deposit intangibles and other intangibles.

Share Repurchase Program

32.3 million common shares were repurchased in the fourth quarter of 2005 as a part of an ongoing share repurchase program.

154.2 million shares remain outstanding under the 2005 authorized program.

18.9 million shares were issued in the fourth quarter of 2005.

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*Preliminary

data on risk-based capital

Bank of America Corporation

Core Net Interest Income - Managed Basis

(Dollars in millions)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net Interest Income
As reported (fully taxable-equivalent basis)	$	31,989		$	29,511		$	8,103		$	7,973		$	7,841		$	8,072		$	7,954
Trading-related net interest income		(1,444	)		(2,039	)		(300	)		(316	)		(414	)		(414	)		(417	)

Core net interest income		30,545			27,472			7,803			7,657			7,427			7,658			7,537
Impact of revolving securitizations		709			881			104			158			209			238			244

Core net interest income - managed basis	$	31,254		$	28,353		$	7,907		$	7,815		$	7,636		$	7,896		$	7,781

Average Earning Assets
As reported	$	1,111,997		$	905,302		$	1,145,541		$	1,137,619		$	1,118,527		$	1,044,914		$	998,004
Trading-related earning assets		(299,374	)		(227,230	)		(305,156	)		(312,441	)		(315,716	)		(263,583	)		(252,217	)

Core average earning assets		812,623			678,072			840,385			825,178			802,811			781,331			745,787
Impact of revolving securitizations		8,440			10,179			5,342			7,723			9,973			10,791			11,112

Core average earning assets - managed basis	$	821,063		$	688,251		$	845,727		$	832,901		$	812,784		$	792,122		$	756,899

Net Interest Yield Contribution
As reported (fully taxable-equivalent basis)		2.88	%		3.26	%		2.82	%		2.80	%		2.81	%		3.11	%		3.18	%
Impact of trading-related activities		0.88			0.79			0.88			0.91			0.90			0.84			0.85

Core net interest yield on earning assets		3.76			4.05			3.70			3.71			3.71			3.95			4.03
Impact of revolving securitizations		0.04			0.06			0.02			0.04			0.05			0.06			0.06

Core net interest yield on earning assets - managed basis		3.80	%		4.11	%		3.72	%		3.75	%		3.76	%		4.01	%		4.09	%

Certain prior period amounts have been restated reflecting realignment of business segments.

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)


	Fourth Quarter 2005						Third Quarter 2005						Fourth Quarter 2004
	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	$	14,619	$	132	3.59	%	$	14,498	$	125	3.43	%	$	15,620	$	128	3.24	%
Federal funds sold and securities purchased under agreements to resell		165,908		1,462	3.51			176,650		1,372	3.09			149,226		712	1.90
Trading account assets		139,441		1,648	4.72			142,287		1,578	4.42			110,585		1,067	3.85
Securities		221,411		2,845	5.14			225,952		2,824	5.00			171,173		2,083	4.87
Loans and leases⁽¹⁾:
Residential mortgage		178,755		2,422	5.41			171,002		2,294	5.36			178,879		2,459	5.49
Credit card		56,858		1,747	12.19			55,271		1,651	11.85			49,366		1,351	10.88
Home equity lines		60,571		1,012	6.63			58,046		910	6.22			48,336		609	5.01
Direct/Indirect consumer		47,181		703	5.91			47,900		702	5.81			39,526		551	5.55
Other consumer⁽²⁾		6,653		184	11.01			6,715		170	10.05			7,557		153	8.07

Total consumer		350,018		6,068	6.90			338,934		5,727	6.72			323,664		5,123	6.31

Commercial - domestic		137,224		2,306	6.67			127,044		2,124	6.63			121,412		1,914	6.27
Commercial real estate		36,017		597	6.58			34,663		542	6.20			31,355		392	4.98
Commercial lease financing		20,178		241	4.79			20,402		239	4.69			20,204		254	5.01
Commercial - foreign		20,143		378	7.45			18,444		349	7.50			18,828		272	5.76

Total commercial		213,562		3,522	6.55			200,553		3,254	6.44			191,799		2,832	5.88

Total loans and leases		563,580		9,590	6.76			539,487		8,981	6.62			515,463		7,955	6.15

Other earning assets		40,582		596	5.83			38,745		542	5.57			35,937		457	5.08

Total earning assets⁽³⁾		1,145,541		16,273	5.66			1,137,619		15,422	5.40			998,004		12,402	4.96

Cash and cash equivalents		33,693						32,969						31,028
Other assets, less allowance for loan and lease losses		125,815						124,157						123,519

Total assets	$	1,305,049					$	1,294,745					$	1,152,551

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,535	$	68	0.76	%	$	35,853	$	56	0.62	%	$	36,927	$	36	0.39	%
NOW and money market deposit accounts		224,122		721	1.28			224,341		743	1.31			234,596		589	1.00
Consumer CDs and IRAs		120,321		987	3.25			130,975		1,057	3.20			109,243		711	2.59
Negotiable CDs, public funds and other time deposits		5,085		27	2.13			4,414		50	4.54			7,563		81	4.27

Total domestic interest-bearing deposits		385,063		1,803	1.86			395,583		1,906	1.91			388,329		1,417	1.45

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		24,451		355	5.77			19,707		294	5.92			17,953		275	6.11
Governments and official institutions		7,579		73	3.84			7,317		62	3.37			5,843		33	2.21
Time, savings and other		32,624		203	2.46			32,024		177	2.19			30,459		104	1.36

Total foreign interest-bearing deposits		64,654		631	3.87			59,048		533	3.58			54,255		412	3.02

Total interest-bearing deposits		449,717		2,434	2.15			454,631		2,439	2.13			442,584		1,829	1.64

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		364,140		3,902	4.25			339,980		3,250	3.79			252,413		1,543	2.43
Trading account liabilities		56,880		619	4.32			68,132		707	4.12			37,387		352	3.74
Long-term debt		100,334		1,215	4.84			99,576		1,053	4.23			99,559		724	2.91

Total interest-bearing liabilities⁽³⁾		971,071		8,170	3.34			962,319		7,449	3.08			831,943		4,448	2.13

Noninterest-bearing sources:
Noninterest-bearing deposits		179,205						178,140						167,352
Other liabilities		55,293						53,832						55,156
Shareholders’ equity		99,480						100,454						98,100

Total liabilities and shareholders’ equity	$	1,305,049					$	1,294,745					$	1,152,551

Net interest spread					2.32						2.32						2.83
Impact of noninterest-bearing sources					0.50						0.48						0.35

Net interest income/yield on earning assets			$	8,103	2.82	%			$	7,973	2.80	%			$	7,954	3.18	%

⁽¹⁾

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

⁽²⁾

Includes consumer finance of $2,916 million and $3,063 million in the fourth and third quarters of 2005, and $3,473 million in the fourth quarter of 2004; foreign consumer of $3,682 million and $3,541 million in the fourth and third quarters of 2005, and $3,523 million in the fourth quarter of 2004; and consumer lease financing of $55 million and $111 million in the fourth and third quarters of 2005, and $561 million in the fourth quarter of 2004.

⁽³⁾

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $40 million and $104 million in the fourth and third quarters of 2005, and $496 million in the fourth quarter of 2004. 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 $265 million and $252 million in the fourth and third quarters of 2005, and $155 million in the fourth quarter of 2004. 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.

Bank of America Corporation

Quarterly Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Derivative Hedge

Income/Expense⁽¹⁾

(Dollars in millions)


	Fourth Quarter 2005							Third Quarter 2005							Fourth Quarter 2004
	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⁽²⁾	$	14,619	$	134		3.63	%	$	14,498	$	126		3.46	%	$	15,620	$	119	3.01	%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		165,908		1,539		3.70			176,650		1,459		3.29			149,226		674	1.80
Trading account assets		139,441		1,648		4.72			142,287		1,578		4.42			110,585		1,067	3.85
Securities⁽²⁾		221,411		2,843		5.13			225,952		2,823		4.99			171,173		2,084	4.87
Loans and leases⁽³⁾:
Residential mortgage⁽²⁾		178,755		2,426		5.42			171,002		2,301		5.37			178,879		2,447	5.46
Credit card		56,858		1,747		12.19			55,271		1,651		11.85			49,366		1,351	10.88
Home equity lines		60,571		1,012		6.63			58,046		910		6.22			48,336		609	5.01
Direct/Indirect consumer		47,181		703		5.91			47,900		702		5.81			39,526		551	5.55
Other consumer⁽⁴⁾		6,653		184		11.01			6,715		170		10.05			7,557		153	8.07

Total consumer		350,018		6,072		6.90			338,934		5,734		6.73			323,664		5,111	6.29

Commercial - domestic⁽²⁾		137,224		2,167		6.26			127,044		1,897		5.93			121,412		1,418	4.65
Commercial real estate		36,017		597		6.58			34,663		542		6.20			31,355		392	4.98
Commercial lease financing		20,178		241		4.79			20,402		239		4.69			20,204		254	5.01
Commercial - foreign⁽²⁾		20,143		378		7.44			18,444		349		7.50			18,828		271	5.73

Total commercial		213,562		3,383		6.29			200,553		3,027		5.99			191,799		2,335	4.85

Total loans and leases		563,580		9,455		6.67			539,487		8,761		6.46			515,463		7,446	5.76

Other earning assets		40,582		614		6.01			38,745		571		5.87			35,937		516	5.73

Total earning assets - Excluding hedge impact		1,145,541		16,233		5.64			1,137,619		15,318		5.36			998,004		11,906	4.76

Net derivative income (expense) on assets				40							104							496

Total earning assets - Including hedge impact		1,145,541		16,273		5.66			1,137,619		15,422		5.40			998,004		12,402	4.96

Cash and cash equivalents		33,693							32,969							31,028
Other assets, less allowance for loan and lease losses		125,815							124,157							123,519

Total assets	$	1,305,049						$	1,294,745						$	1,152,551

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,535	$	68		0.76	%	$	35,853	$	56		0.62	%	$	36,927	$	36	0.39	%
NOW and money market deposit accounts⁽²⁾		224,122		722		1.28			224,341		742		1.31			234,596		547	0.93
Consumer CDs and IRAs⁽²⁾		120,321		827		2.73			130,975		889		2.69			109,243		539	1.96
Negotiable CDs, public funds and other time deposits⁽²⁾		5,085		26		2.02			4,414		34		3.02			7,563		38	2.03

Total domestic interest-bearing deposits		385,063		1,643		1.69			395,583		1,721		1.73			388,329		1,160	1.19

Foreign interest-bearing deposits⁽⁵⁾:
Banks located in foreign countries⁽²⁾		24,451		327		5.30			19,707		259		5.21			17,953		157	3.47
Governments and official institutions		7,579		73		3.84			7,317		62		3.37			5,843		33	2.21
Time, savings and other		32,624		203		2.46			32,024		177		2.19			30,459		104	1.36

Total foreign interest-bearing deposits		64,654		603		3.70			59,048		498		3.35			54,255		294	2.15

Total interest-bearing deposits		449,717		2,246		1.98			454,631		2,219		1.94			442,584		1,454	1.31

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings⁽²⁾		364,140		3,788		4.13			339,980		3,085		3.60			252,413		1,386	2.18
Trading account liabilities		56,880		619		4.32			68,132		707		4.12			37,387		352	3.74
Long-term debt⁽²⁾		100,334		1,252		4.99			99,576		1,186		4.76			99,559		1,101	4.42

Total interest-bearing liabilities - Excluding hedge impact		971,071		7,905		3.23			962,319		7,197		2.97			831,943		4,293	2.05

Net derivative (income) expense on liabilities				265							252							155

Total interest-bearing liabilities - Including hedge impact		971,071		8,170		3.34			962,319		7,449		3.08			831,943		4,448	2.13

Noninterest-bearing sources:
Noninterest-bearing deposits		179,205							178,140							167,352
Other liabilities		55,293							53,832							55,156
Shareholders’ equity		99,480							100,454							98,100

Total liabilities and shareholders’ equity	$	1,305,049						$	1,294,745						$	1,152,551

Net interest spread						2.41							2.39						2.71
Impact of noninterest-bearing sources						0.49							0.46						0.33

Net interest income/yield on earning assets - excluding hedge impact			$	8,328		2.90				$	8,121		2.85				$	7,613	3.04

Net impact of derivative hedge income/(expense)				(225	)	(0.08	)				(148	)	(0.05	)				341	0.14

Net interest income/yield on earning assets			$	8,103		2.82	%			$	7,973		2.80	%			$	7,954	3.18	%

⁽¹⁾

This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities.

⁽²⁾

⁽³⁾

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

⁽⁴⁾

⁽⁵⁾

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

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)


	Year Ended December 31
	2005						2004
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	14,286	$	472	3.30	%	$	14,254	$	362	2.54	%
Federal funds sold and securities purchased under agreements to resell		169,132		4,979	2.94			128,981		2,043	1.58
Trading account assets		133,502		5,883	4.41			104,616		4,092	3.91
Securities		219,843		11,059	5.03			150,171		7,326	4.88
Loans and leases⁽¹⁾:
Residential mortgage		173,776		9,400	5.41			167,298		9,074	5.42
Credit card		53,997		6,253	11.58			43,435		4,653	10.71
Home equity lines		56,289		3,412	6.06			39,400		1,835	4.66
Direct/Indirect consumer		44,981		2,589	5.75			38,078		2,093	5.50
Other consumer⁽²⁾		6,908		667	9.67			7,717		594	7.70

Total consumer		335,951		22,321	6.64			295,928		18,249	6.17

Commercial - domestic		128,034		8,383	6.55			114,644		7,123	6.21
Commercial real estate		34,304		2,046	5.97			28,085		1,263	4.50
Commercial lease financing		20,441		992	4.85			17,483		819	4.68
Commercial - foreign		18,491		1,291	6.98			16,505		849	5.15

Total commercial		201,270		12,712	6.32			176,717		10,054	5.69

Total loans and leases		537,221		35,033	6.52			472,645		28,303	5.99

Other earning assets		38,013		2,103	5.53			34,635		1,815	5.24

Total earning assets⁽³⁾		1,111,997		59,529	5.35			905,302		43,941	4.85

Cash and cash equivalents		33,199						28,511
Other assets, less allowance for loan and lease losses		124,700						110,847

Total assets	$	1,269,896					$	1,044,660

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,602	$	211	0.58	%	$	33,959	$	119	0.35	%
NOW and money market deposit accounts		227,722		2,839	1.25			214,542		1,921	0.90
Consumer CDs and IRAs		124,385		3,786	3.04			94,770		2,533	2.67
Negotiable CDs, public funds and other time deposits		6,865		259	3.77			5,977		290	4.85

Total domestic interest-bearing deposits		395,574		7,095	1.79			349,248		4,863	1.39

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		22,945		1,301	5.67			18,426		1,040	5.64
Governments and official institutions		7,418		238	3.21			5,327		97	1.82
Time, savings and other		31,603		661	2.09			27,739		275	0.99

Total foreign interest-bearing deposits		61,966		2,200	3.55			51,492		1,412	2.74

Total interest-bearing deposits		457,540		9,295	2.03			400,740		6,275	1.57

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		326,408		11,798	3.61			227,565		4,434	1.95
Trading account liabilities		57,689		2,364	4.10			35,326		1,317	3.73
Long-term debt		98,610		4,083	4.14			93,323		2,404	2.58

Total interest-bearing liabilities⁽³⁾		940,247		27,540	2.93			756,954		14,430	1.91

Noninterest-bearing sources:
Noninterest-bearing deposits		174,892						150,819
Other liabilities		55,461						52,704
Shareholders’ equity		99,296						84,183

Total liabilities and shareholders’ equity	$	1,269,896					$	1,044,660

Net interest spread					2.42						2.94
Impact of noninterest-bearing sources					0.46						0.32

Net interest income/yield on earning assets			$	31,989	2.88	%			$	29,511	3.26	%

⁽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 of $3,137 million and $3,735 million; foreign consumer of $3,565 million and $3,020 million; and consumer lease financing of $206 million and $962 million in 2005 and 2004.

⁽³⁾

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $774 million and $2,400 million in 2005 and 2004. 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 $985 million and $888 million in 2005 and 2004. 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.

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 - Isolating Derivative Hedge Income/Expense⁽¹⁾

(Dollars in millions)


	Year Ended December 31
	2005							2004
	Average Balance		Interest Income/ Expense			Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments⁽²⁾	$	14,286	$	476		3.33	%	$	14,254	$	352	2.47	%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		169,132		5,116		3.02			128,981		1,660	1.29
Trading account assets		133,502		5,883		4.41			104,616		4,092	3.91
Securities⁽²⁾		219,843		11,058		5.03			150,171		7,343	4.89
Loans and leases⁽³⁾:
Residential mortgage⁽²⁾		173,776		9,404		5.41			167,298		9,049	5.41
Credit card		53,997		6,253		11.58			43,435		4,653	10.71
Home equity lines		56,289		3,412		6.06			39,400		1,835	4.66
Direct/Indirect consumer		44,981		2,589		5.75			38,078		2,093	5.50
Other consumer⁽⁴⁾		6,908		667		9.67			7,717		594	7.70

Total consumer		335,951		22,325		6.65			295,928		18,224	6.16

Commercial - domestic⁽²⁾		128,034		7,324		5.72			114,644		4,870	4.25
Commercial real estate		34,304		2,046		5.97			28,085		1,263	4.50
Commercial lease financing		20,441		992		4.85			17,483		819	4.68
Commercial - foreign⁽²⁾		18,491		1,288		6.97			16,505		841	5.10

Total commercial		201,270		11,650		5.79			176,717		7,793	4.41

Total loans and leases		537,221		33,975		6.32			472,645		26,017	5.50

Other earning assets⁽²⁾		38,013		2,247		5.91			34,635		2,077	6.00

Total earning assets - Excluding hedge impact		1,111,997		58,755		5.28			905,302		41,541	4.59

Net derivative income (expense) on assets				774							2,400

Total earning assets - Including hedge impact		1,111,997		59,529		5.35			905,302		43,941	4.85

Cash and cash equivalents		33,199							28,511
Other assets, less allowance for loan and lease losses		124,700							110,847

Total assets	$	1,269,896						$	1,044,660

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	36,602	$	211		0.58	%	$	33,959	$	119	0.35	%
NOW and money market deposit accounts⁽²⁾		227,722		2,821		1.25			214,542		1,678	0.79
Consumer CDs and IRAs⁽²⁾		124,385		3,151		2.53			94,770		1,660	1.75
Negotiable CDs, public funds and other time deposits⁽²⁾		6,865		188		2.74			5,977		93	1.55

Total domestic interest-bearing deposits		395,574		6,371		1.62			349,248		3,550	1.02

Foreign interest-bearing deposits⁽⁵⁾:
Banks located in foreign countries⁽²⁾		22,945		1,055		4.60			18,426		539	2.92
Governments and official institutions		7,418		238		3.21			5,327		97	1.82

Time, savings and other		31,603		661		2.09			27,739		275	0.99

Total foreign interest-bearing deposits		61,966		1,954		3.15			51,492		911	1.77

Total interest-bearing deposits		457,540		8,325		1.83			400,740		4,461	1.12

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings⁽²⁾		326,408		11,190		3.43			227,565		3,746	1.65
Trading account liabilities		57,689		2,364		4.10			35,326		1,317	3.73
Long-term debt⁽²⁾		98,610		4,676		4.74			93,323		4,018	4.31

Total interest-bearing liabilities - Excluding hedge impact		940,247		26,555		2.83			756,954		13,542	1.79

Net derivative (income) expense on liabilities				985							888

Total interest-bearing liabilities - Including hedge impact		940,247		27,540		2.93			756,954		14,430	1.91

Noninterest-bearing sources:
Noninterest-bearing deposits		174,892							150,819
Other liabilities		55,461							52,704
Shareholders’ equity		99,296							84,183

Total liabilities and shareholders’ equity	$	1,269,896						$	1,044,660

Net interest spread						2.45						2.80
Impact of noninterest-bearing sources						0.45						0.29

Net interest income/yield on earning assets - excluding hedge impact				32,200		2.90	%				27,999	3.09	%

Net impact of derivative hedge income/(expense)				(211	)	(0.02	)				1,512	0.17

Net interest income/yield on earning assets			$	31,989		2.88	%			$	29,511	3.26	%

⁽¹⁾

⁽²⁾

Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $(4) million, federal funds sold and securities purchased under agreements to resell $(137) million, securities $1 million, residential mortgage $(4) million, commercial - domestic $1,059 million, commercial - foreign $3 million and other earning assets $(144) million in 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $18 million, consumer CDs and IRAs $635 million, negotiable CDs, public funds and other time deposits $71 million, banks located in foreign countries $246 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $608 million and long-term debt $(593) million in 2005. Interest income excludes the impact of interest rate risk management contracts, which increased(decreased) interest income on time deposits placed and other short-term investments $10 million, federal funds sold and securities purchased under agreements to resell $383 million, securities $(17) million, residential mortgage $25 million, commercial - domestic $2,253 million, commercial - foreign $8 million and other earning assets $(262) million in 2004. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $243 million, consumer CDs and IRAs $873 million, negotiable CDs, public funds and other time deposits $197 million, banks located in foreign countries $501 million, federal funds purchased, securities sold under agreements to repurchase and other short term borrowings $688 million and long-term debt $(1,614) million in 2004.

⁽³⁾

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

⁽⁴⁾

⁽⁵⁾

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

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

Bank of America Corporation

Business Segment View

Net Income

Fourth Quarter 2005

LOGO

Revenue*

Fourth Quarter 2005

LOGO

*	Fully taxable-equivalent basis

Bank of America Corporation

Global Consumer and Small Business Banking Segment Results⁽¹⁾

(Dollars in millions; except as noted)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004

Net interest income⁽²⁾	$	17,053		$	15,911		$	4,373		$	4,271		$	4,142		$	4,267		$	4,301
Noninterest income
Service charges		4,996			4,329			1,261			1,386			1,244			1,105			1,192
Mortgage banking income		1,012			589			271			230			237			274			206
Card income		5,476			4,359			1,427			1,447			1,372			1,230			1,316
All other income		339			(32	)		97			70			63			109			105

Total noninterest income		11,823			9,245			3,056			3,133			2,916			2,718			2,819

Total revenue⁽²⁾		28,876			25,156			7,429			7,404			7,058			6,985			7,120

Provision for credit losses		4,271			3,333			1,299			1,107			1,155			710			1,244
Gains (losses) on sales of debt securities		(2	)		117			—			(1	)		—			(1	)		—
Noninterest expense		13,440			12,555			3,394			3,327			3,413			3,306			3,373

Income before income taxes		11,163			9,385			2,736			2,969			2,490			2,968			2,503
Income tax expense		4,007			3,414			974			1,085			899			1,049			894

Net income	$	7,156		$	5,971		$	1,762		$	1,884		$	1,591		$	1,919		$	1,609

Shareholder value added	$	4,013		$	3,325		$	904		$	1,113		$	823		$	1,173		$	807
Net interest yield⁽²⁾		5.63	%		5.46	%		5.74	%		5.58	%		5.53	%		5.67	%		5.48	%
Return on average equity		21.31			21.28			19.58			22.81			19.29			23.76			18.75
Efficiency ratio⁽²⁾		46.54			49.91			45.65			44.95			48.34			47.35			47.37
Balance Sheet
Average
Total loans and leases	$	144,019		$	122,148		$	149,239		$	145,715		$	141,353		$	139,644		$	138,010
Total earning assets		302,846			291,212			302,115			303,547			300,571			305,179			311,991
Total assets		330,342			316,204			329,898			330,808			327,079			333,621			341,169
Total deposits		306,038			283,481			306,602			310,495			306,399			300,541			301,829
Common equity/Allocated equity		33,589			28,057			35,725			32,776			33,083			32,747			34,153
Period End
Total loans and leases		151,646			139,507			151,646			147,702			143,083			138,873			139,507
Total assets		335,551			336,902			335,551			330,995			328,839			335,802			336,902
Total deposits		306,083			299,062			306,083			313,109			307,314			306,029			299,062
Period End (in billions)
Mortgage servicing portfolio	$	296.8		$	273.1		$	296.8		$	288.5		$	280.1		$	275.5		$	273.1
Mortgage originations:
Retail		60.3			57.6			14.7			18.6			15.1			11.9			12.7
Wholesale		26.5			30.0			6.0			8.9			6.0			5.6			5.7

⁽¹⁾

Global Consumer and Small Business Banking’s most significant product groups are Card Services, Consumer Real Estate and Consumer Deposit Products.

⁽²⁾

Fully taxable-equivalent basis

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

Information for period after April 1, 2004 includes the FleetBoston acqusition; 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 14.7 million subscribers.

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

7.3 million active bill pay users paid $34.4 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 338 companies are presenting 19.1 million e-bills per quarter.

LOGO

Bank of America Corporation

Card Services Results⁽¹⁾

(Dollars in millions)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Key Measures
Consumer Credit Card Outstandings
On-balance sheet (Period end)	$	58,548		$	51,726		$	58,548		$	56,079		$	53,863		$	51,012		$	51,726
Managed (Period end)		60,785			58,629			60,785			59,701			59,283			57,920			58,629
On-balance sheet (Average)		53,997			43,435			56,858			55,271			52,474			51,310			49,366
Managed (Average)		59,048			50,296			59,722			59,762			58,537			58,145			56,444
Managed Income Statement
Total revenue	$	9,392		$	8,140		$	2,383		$	2,428		$	2,338		$	2,243		$	2,354
Provision for credit losses⁽²⁾		4,433			3,636			1,254			1,102			1,234			843			1,396
Noninterest expense		2,650			2,172			619			635			720			676			700

Income before income taxes	$	2,309		$	2,332		$	510		$	691		$	384		$	724		$	258

Shareholder Value Added	$	979		$	1,113		$	186		$	314		$	123		$	356		$	55
Merchant Acquiring Business
Processing volume (millions)		352,938			145,093			101,601			91,321			84,262			75,754			75,383
Total transactions (millions)		7,692			2,781			2,334			1,906			1,832			1,620			1,756
Consumer Credit Card
Credit Quality
On-balance sheet
Charge-offs $	$	3,652		$	2,305		$	1,366		$	772		$	774		$	740		$	691
Charge-offs %		6.76	%		5.31	%		9.53	%		5.55	%		5.91	%		5.85	%		5.57	%
Managed
Losses $⁽³⁾	$	4,086		$	2,829		$	1,429		$	864		$	909		$	884		$	837
Losses %		6.92	%		5.62	%		9.49	%		5.74	%		6.23	%		6.17	%		5.90	%
Managed delinquency %
30+		n/a			n/a			4.17	%		4.59	%		4.25	%		4.20	%		4.37	%
90+		n/a			n/a			2.00			2.17			1.96			2.10			2.13

n/a = not applicable

⁽¹⁾

Card Services includes Consumer and Small Business Credit Card and Merchant Services.

⁽²⁾

Includes $210 million and $165 million for the year ended December 31, 2005 and 2004; $210 million for the three months ended June 30, 2005 and $165 million for the three months ended December 31,2004 related to minimum payment requirements.

⁽³⁾

The three months ended December 31, 2005 includes $524 million increased losses due to bankruptcy reform legislation.

The difference between the held and managed information above is the impact of the securitized portfolio.

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 classification.

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

Bank of America Corporation

Global Business and Financial Services Segment Results⁽¹⁾

(Dollars in millions)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net interest income⁽²⁾	$	7,788		$	6,534		$	2,027		$	1,959		$	1,896		$	1,906		$	1,861
Noninterest income
Service charges		1,469			1,287			363			377			362			367			362
Investment & brokerage services		221			168			60			64			49			48			51
All other income		1,682			1,262			449			455			376			402			444

Total noninterest income		3,372			2,717			872			896			787			817			857

Total revenue⁽²⁾		11,160			9,251			2,899			2,855			2,683			2,723			2,718

Provision for credit losses		(49	)		(442	)		105			79			(189	)		(44	)		(286	)
Gains on sales of debt securities		146			—			63			12			70			1			—
Noninterest expense		4,162			3,598			1,088			1,053			1,015			1,006			1,018

Income before income taxes		7,193			6,095			1,769			1,735			1,927			1,762			1,986
Income tax expense		2,631			2,251			634			633			701			663			771

Net income	$	4,562		$	3,844		$	1,135		$	1,102		$	1,226		$	1,099		$	1,215

Shareholder value added	$	1,486		$	1,297		$	360		$	333		$	465		$	328		$	423
Net interest yield		4.05	%		4.06	%		3.96	%		3.97	%		4.04	%		4.24	%		4.15	%
Return on average equity		15.63			15.89			15.39			15.13			17.00			15.03			16.15
Efficiency ratio⁽²⁾		37.29			38.90			37.64			36.85			37.78			36.92			37.43
Balance Sheet
Average
Total loans and leases	$	180,557		$	151,725		$	190,327		$	183,937		$	176,371		$	171,347		$	167,741
Total earning assets		192,344			160,811			202,870			195,735			188,019			182,490			178,582
Total assets		222,584			184,771			233,818			225,796			218,077			212,376			208,315
Total deposits		106,951			93,254			107,575			107,963			106,625			105,607			105,737
Common equity/Allocated equity		29,182			24,193			29,229			28,911			28,940			29,654			29,935
Period End
Total loans and leases	$	192,532		$	170,698		$	192,532		$	187,581		$	179,319		$	174,550		$	170,698
Total assets		237,679			214,045			237,679			230,556			221,624			216,153			214,045
Total deposits		114,241			107,838			114,241			106,171			110,894			107,300			107,838

⁽¹⁾

Global Business and Financial Services major businesses are Global Treasury Services, Middle Market Banking, Business Banking, Commercial Real Estate Banking, Leasing, Business Capital, Dealer Financial Services and Latin America.

⁽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 Capital Markets and Investment Banking Segment Results⁽¹⁾

(Dollars in millions)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net interest income⁽²⁾
Core net interest income	$	1,854		$	2,019		$	427		$	456		$	454		$	517		$	540
Trading-related net interest income		1,444			2,039			300			316			414			414			417

Total net interest income		3,298			4,058			727			772			868			931			957

Noninterest income
Service charges		1,146			1,287			278			293			293			282			319
Investment & brokerage services		806			705			207			198			208			193			179
Investment banking income		1,749			1,783			501			491			407			350			449
Trading account profits		1,664			1,023			216			484			258			706			233
All other income		346			190			17			85			80			164			57

Total noninterest income		5,711			4,988			1,219			1,551			1,246			1,695			1,237

Total revenue⁽²⁾		9,009			9,046			1,946			2,323			2,114			2,626			2,194

Provision for credit losses		(244	)		(445	)		(7	)		(70	)		(60	)		(107	)		(198	)
Gains (losses) on sales of debt securities		117			(10	)		31			5			51			30			1
Noninterest expense		6,678			6,581			1,801			1,716			1,524			1,637			1,524

Income before income taxes		2,692			2,900			183			682			701			1,126			869
Income tax expense		956			976			60			248			252			396			280

Net income	$	1,736		$	1,924		$	123		$	434		$	449		$	730		$	589

Shareholder value added	$	642		$	873		$	(166	)	$	163		$	185		$	460		$	303
Net interest yield⁽²⁾		0.92	%		1.47	%		0.78	%		0.83	%		0.93	%		1.18	%		1.24	%
Return on average equity		16.73			19.34			4.51			16.90			17.91			28.46			21.73
Efficiency ratio⁽²⁾		74.13			72.76			92.61			73.86			72.10			62.30			69.46
Balance Sheet
Average
Total loans and leases	$	34,353		$	33,891		$	38,768		$	32,280		$	31,647		$	34,693		$	33,896
Total earning assets		358,466			275,569			368,380			371,229			374,277			319,299			305,976
Total assets		410,979			321,743			421,097			422,920			428,084			371,135			353,773
Total deposits		84,979			74,738			87,271			83,042			86,907			82,667			81,078
Common equity/Allocated equity		10,372			9,946			10,851			10,180			10,047			10,407			10,786
Period End
Total loans and leases		40,213			33,387			40,213			33,387			31,565			34,506			33,387
Total assets		395,900			303,897			395,900			371,861			383,749			377,647			303,897
Total deposits		86,144			76,986			86,144			80,428			80,985			76,684			76,986

⁽¹⁾

Global Capital Markets and Investment Banking offers clients a comprehensive range of global capabilities through three financial services: 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 Capital Markets and Investment Banking

(Dollars in millions)


	Year Ended December 31					Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
	2005		2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
Revenue
Market-based trading-related revenue:
Debt	$	2,565	$	2,967		$	496		$	711		$	482	$	876	$	609
Equity		1,201		862			236			363			265		337		249
Other		136		(100	)		(12	)		(78	)		130		96		(35	)

Total market-based trading-related revenue		3,902		3,729			720			996			877		1,309		823
Investment banking fees:
Debt		1,180		1,291			343			308			277		252		315
Equity		273		303			84			94			57		38		83
Mergers and acquisitions		296		189			74			89			73		60		52

Total investment banking fees		1,749		1,783			501			491			407		350		450
Other		472		222			21			124			154		173		86

Capital markets revenue		6,123		5,734			1,242			1,611			1,438		1,832		1,359

Other revenue:
Credit-related		869		1,117			218			189			191		271		265
Global treasury services		2,135		2,185			520			527			535		553		571

Total other revenue		3,004		3,302			738			716			726		824		836

Total revenue	$	9,127	$	9,036		$	1,980		$	2,327		$	2,164	$	2,656	$	2,195

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 Capital Markets and Investment Banking

(Dollars in millions)


	Year Ended December 31					Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
	2005		2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
Trading-related Revenue and Equity Commissions
Net interest income⁽¹⁾	$	1,444	$	2,039		$	300		$	316		$	414	$	414	$	417
Trading account profits		1,664		1,023			216			484			258		706		233

Total trading-related revenue		3,108		3,062			516			800			672		1,120		650
Equity commissions⁽²⁾		794		667			204			196			205		189		173

Total	$	3,902	$	3,729		$	720		$	996		$	877	$	1,309	$	823

Trading-related Revenue by Product and Equity Commissions
Fixed income	$	1,054	$	1,547		$	160		$	336		$	107	$	451	$	283
Interest rate⁽¹⁾		767		667			177			176			185		229		95
Foreign exchange		744		752			159			199			190		196		231
Equities		407		195			32			167			60		148		75
Equity commissions⁽²⁾		794		667			204			196			205		189		173
Commodities		87		45			34			(35	)		67		21		33

Total trading-related revenue and equity commissions		3,853		3,873			766			1,039			814		1,234		890
Credit portfolio hedges⁽³⁾		49		(144	)		(46	)		(43	)		63		75		(67	)

Total	$	3,902	$	3,729		$	720		$	996		$	877	$	1,309	$	823


	Year Ended December 31					Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
	2005		2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005		Fourth Quarter 2004
Investment Banking Income
Securities underwriting	$	787	$	920		$	204		$	245		$	181	$	157	$	209
Syndications		528		521			187			104			125		112		140
Advisory services		409		310			104			135			95		75		94
Other		25		32			6			7			6		6		7

Total investment banking income	$	1,749	$	1,783		$	501		$	491		$	407	$	350	$	450

⁽¹⁾

Fully taxable-equivalent basis

⁽²⁾

Included in Investment and Brokerage Services in the Consolidated Statement of Income.

⁽³⁾

Includes credit default swaps and related products 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 Capital Markets & Investment Banking Strategic Progress Continues

LOGO

Source: Thomson Financial except Syndicated Loans and Leveraged Loans from Loan Pricing Corporation.

Significant US market share gains

Banc of America Securities increased market share in high yield, M&A, investment grade, public finance and common stock underwriting.

•

#1 in syndicated loans and leveraged loans, ranked by number of deals

•

Investment grade rank rose to #5 from #8 in YTD 04

•

Top 5 rankings in:

Syndicated loans

Leveraged loans

High yield

Investment Grade

Bank of America Corporation

Global Wealth and Investment Management Segment Results⁽¹⁾

(Dollars in millions, except as noted)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net interest income⁽²⁾	$	3,770		$	2,869		$	993		$	926		$	910		$	941		$	834
Noninterest income
Investment & brokerage services		3,122			2,728			788			788			783			763			767
All other income		501			336			148			120			143			90			80

Total noninterest income		3,623			3,064			936			908			926			853			847

Total revenue⁽²⁾		7,393			5,933			1,929			1,834			1,836			1,794			1,681

Provision for credit losses		(5	)		(20	)		1			1			(9	)		2			(4	)
Noninterest expense		3,672			3,431			939			914			919			900			929

Income before income taxes		3,726			2,522			989			919			926			892			756
Income tax expense		1,338			917			353			336			334			315			273

Net income	$	2,388		$	1,605		$	636		$	583		$	592		$	577		$	483

Shareholder value added	$	1,337		$	754		$	353		$	325		$	330		$	329		$	228
Net interest yield⁽²⁾		3.21	%		3.36	%		3.41	%		3.12	%		3.03	%		3.28	%		3.16	%
Return on average equity		23.34			19.35			23.13			23.23			23.24			23.79			19.38
Efficiency ratio⁽²⁾		49.66			57.83			48.63			49.85			50.04			50.20			55.23

Balance Sheet
Average
Total loans and leases	$	54,021		$	44,057		$	57,103		$	55,175		$	52,967		$	50,759		$	47,956
Total earning assets		117,494			85,264			115,437			117,810			120,474			116,263			104,929
Total assets		125,289			91,889			123,205			125,687			128,401			123,867			112,682
Total deposits		115,301			83,053			112,809			116,068			118,234			114,098			102,489
Common equity/Allocated Equity		10,232			8,296			10,917			9,950			10,217			9,837			9,922
Period End
Total loans and leases		58,277			49,783			58,277			56,064			54,238			51,766			49,783
Total assets		127,156			122,587			127,156			123,578			127,466			127,830			122,587
Total deposits		113,389			111,107			113,389			114,301			116,831			117,561			111,107

Client assets (in billions)
Assets under management	$	482.4		$	451.5		$	482.4		$	457.4		$	442.8		$	433.4		$	451.5
Client brokerage assets		161.7			149.9			161.7			155.6			150.9			150.7			149.9
Assets in custody		94.2			107.0			94.2			96.1			101.7			100.8			107.0

Total client assets	$	738.3		$	708.4		$	738.3		$	709.1		$	695.4		$	684.9		$	708.4

⁽¹⁾

Global Wealth and Investment Management services clients through five major businesses: Premier Banking, Banc of America Investments, The Private Bank, Columbia Management Group 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

All Other Results⁽¹⁾

(Dollars in millions)


	Year Ended December 31						Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
	2005			2004			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005			Fourth Quarter 2004
Net interest income⁽²⁾	$	80		$	139		$	(17	)	$	45		$	25		$	27		$	1
Noninterest income
Equity investment gains		1,646			750			403			565			414			264			402
All other income		(565	)		(679	)		(224	)		(219	)		76			(198	)		(196	)

Total noninterest income		1,081			71			179			346			490			66			206

Total revenue⁽²⁾		1,161			210			162			391			515			93			207

Provision for credit losses		41			343			2			42			(22	)		19			(50	)
Gains on sales of debt securities		823			2,016			(23	)		13			204			629			100
Noninterest expense		729			847			98			275			148			208			489

Income before income taxes		1,214			1,036			39			87			593			495			(132	)
Income tax expense (benefit)		170			237			(73	)		(37	)		155			125			(85	)

Net income	$	1,044		$	799		$	112		$	124		$	438		$	370		$	(47	)

Shareholder value added	$	(401	)	$	(266	)	$	(198	)	$	(304	)	$	86		$	15		$	(227	)

Balance Sheet
Average
Total loans and leases	$	124,271		$	120,824		$	128,143		$	122,380		$	118,086		$	128,501		$	127,860
Total earning assets		140,847			92,446			156,739			149,298			135,186			121,683			96,526
Total assets		180,702			130,053			197,031			189,535			175,848			159,884			136,611
Total deposits		19,163			17,033			14,665			15,203			22,428			24,507			18,803
Period End
Total loans and leases		131,114			128,462			131,114			129,869			121,213			129,771			128,462
Total assets		195,509			133,026			195,509			195,270			184,652			154,807			133,026
Total deposits		14,813			23,577			14,813			12,468			19,393			22,413			23,577

⁽¹⁾

All Other consists primarily of Equity Investments, noninterest income and expense amounts associated with the Asset and Liability Management process (including gains on sales of debt securities), the residual impact of the allowance for credit losses processes and funds transfer pricing allocation methodologies, merger and restructuring charges, intersegment eliminations, and the results of certain consumer finance and commercial lending businesses that are being liquidated.

⁽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

Outstanding Loans and Leases

(Dollars in millions)


	December 31 2005		September 30 2005		Increase (Decrease) from 9/30/05
Residential mortgage	$	182,587	$	177,317	$	5,270
Credit card		58,548		56,079		2,469
Home equity lines		62,098		59,337		2,761
Direct/Indirect consumer		45,490		49,585		(4,095	)
Other consumer⁽¹⁾		6,725		6,639		86

Total consumer		355,448		348,957		6,491

Commercial - domestic		140,533		130,730		9,803
Commercial real estate⁽²⁾		35,766		35,794		(28	)
Commercial lease financing		20,705		20,284		421
Commercial - foreign		21,330		18,838		2,492

Total commercial		218,334		205,646		12,688

Total	$	573,782	$	554,603	$	19,179

⁽¹⁾

Includes consumer finance of $2,849 million and $2,988 million; foreign consumer of $3,841 million and $3,575 million; and consumer lease financing of $35 million and $76 million at December 31, 2005 and September 30, 2005.

⁽²⁾

Includes domestic commercial real estate loans of $35,181 million and $35,116 million; and foreign commercial real estate loans of $585 million and $678 million at December 31, 2005 and September 30, 2005.

Bank of America Corporation

Commercial Utilized Credit Exposure and Net Credit Default Protection by Industry⁽¹⁾

(Dollars in millions)


	Commercial Utilized Credit Exposure⁽¹⁾							Net Credit Default Protection
	December 31 2005		September 30 2005		Increase (Decrease)			December 31 2005			September 30 2005			(Increase) Decrease
Real estate⁽²⁾	$	41,665	$	42,839	$	(1,174	)	$	(788	)	$	(843	)	$	55
Banks		26,514		23,831		2,683			31			(31	)		62
Diversified financials		25,859		23,488		2,371			(543	)		(515	)		(28	)
Retailing		23,913		25,046		(1,133	)		(1,124	)		(1,112	)		(12	)
Education and government		22,331		21,436		895			—			—			—
Individuals and trusts		17,237		17,230		7			(30	)		—			(30	)
Materials		16,477		13,914		2,563			(1,149	)		(1,005	)		(144	)
Consumer durables and apparel		14,988		14,501		487			(772	)		(852	)		80
Capital goods		13,640		12,750		890			(751	)		(799	)		48
Commercial services and supplies		13,605		12,667		938			(472	)		(295	)		(177	)
Transportation		13,449		12,904		545			(392	)		(266	)		(126	)
Healthcare equipment and services		13,294		11,985		1,309			(709	)		(979	)		270
Leisure and sports, hotels and restaurants		13,005		12,657		348			(874	)		(987	)		113
Food, beverage and tobacco		11,578		11,150		428			(621	)		(647	)		26
Energy		9,992		10,769		(777	)		(559	)		(761	)		202
Media		6,608		5,727		881			(1,790	)		(1,609	)		(181	)
Religious and social organizations		6,340		6,140		200			—			—			—
Utilities		4,858		5,362		(504	)		(899	)		(877	)		(22	)
Insurance		4,692		4,760		(68	)		(1,453	)		(1,523	)		70
Food and staples retailing		3,802		3,531		271			(334	)		(361	)		27
Technology hardware and equipment		3,737		3,378		359			(563	)		(500	)		(63	)
Telecommunication services		3,461		3,486		(25	)		(1,205	)		(1,227	)		22
Software and services		2,668		2,483		185			(299	)		(301	)		2
Automobiles and components		1,681		1,874		(193	)		(679	)		(796	)		117
Pharmaceuticals and biotechnology		1,647		1,384		263			(470	)		(281	)		(189	)
Household and personal products		379		457		(78	)		75			50			25
Other⁽³⁾		2,587		2,864		(277	)		1,677			(388	)		2,065

Total	$	320,007	$	308,613	$	11,394		$	(14,693	)	$	(16,905	)	$	2,212

⁽¹⁾

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held for sale and commercial letters of credit. Derivative assets are reported on a mark-to-market basis and have not been reduced by the amount of collateral applied. Derivative asset collateral totaled $17.1 billion and $17.8 billion at December 31, 2005 and September 30, 2005.

⁽²⁾

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

⁽³⁾

This category represents net CDS index positions. CDS indices include a number of names distributed across a variety of industries. As of December 31, 2005 index positions were principally investment grade.

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

Bank of America Corporation

Net Credit Default Protection by Credit Exposure Debt Rating

(Dollars in millions)


	December 31, 2005					September 30, 2005
Ratings	Net Notional			Percent		Net Notional		Percent
AAA	$	22		0.2	%	$	5	—	%
AA		523		3.6			638	3.8
A		4,861		33.1			4,947	29.2
BBB		8,572		58.2			8,412	49.8
BB		1,792		12.2			2,158	12.8
B		424		2.9			341	2.0
CCC		149		1.0			20	0.1
CC		—		—			31	0.2
NR⁽¹⁾		(1,650	)	(11.2	)		353	2.1

Total	$	14,693		100.0	%	$	16,905	100.0	%

⁽¹⁾

In addition to unrated names, “NR” includes $1,677 million in net CDS index positions. While index positions are principally investment grade, CDS indices include names in and across each of the ratings categories.

Net Credit Default Protection by Maturity Profile


	December 31 2005		September 30 2005
Less than or equal to one year	—	%	2	%
Greater than one year and less than or equal to five years	65		75
Greater than five years	35		23

Total	100	%	100	%

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)


	December 31 2005			September 30 2005			June 30 2005			March 31 2005			December 31 2004
Residential mortgage	$	570		$	493		$	494		$	536		$	554
Home equity lines		117			88			75			70			66
Direct/Indirect consumer		37			32			33			32			33
Other consumer		61			75			76			83			85

Total consumer		785			688			678			721			738

Commercial - domestic		581			641			662			811			855
Commercial real estate		49			44			60			64			87
Commercial lease financing		62			61			282			249			266
Commercial - foreign		34			64			88			228			267

Total commercial		726			810			1,092			1,352			1,475

Total nonperforming loans and leases		1,511			1,498			1,770			2,073			2,213
Nonperforming securities⁽¹⁾		—			—			14			153			140
Foreclosed properties		92			99			111			112			102

Total nonperforming assets⁽²⁾	$	1,603		$	1,597		$	1,895		$	2,338		$	2,455

Loans past due 90 days or more and still accruing	$	1,455		$	1,417		$	1,235		$	1,211		$	1,294
Nonperforming assets / Total assets		0.12	%		0.13	%		0.15	%		0.19	%		0.22	%
Nonperforming assets / Total loans, leases and foreclosed properties		0.28			0.29			0.36			0.44			0.47
Nonperforming loans and leases / Total loans and leases		0.26			0.27			0.33			0.39			0.42
Allowance for credit losses:
Allowance for loan and lease losses	$	8,045		$	8,326		$	8,319		$	8,313		$	8,626
Reserve for unfunded lending commitments		395			390			383			394			402

Total	$	8,440		$	8,716		$	8,702		$	8,707		$	9,028

Allowance for loan and lease losses / Total loans and leases		1.40	%		1.50	%		1.57	%		1.57	%		1.65	%
Allowance for loan and lease losses / Total nonperforming loans and leases		532			556			470			401			390
Commercial criticized exposure	$	7,527		$	7,632		$	7,731		$	8,858		$	10,249
Commercial criticized exposure / Commercial utilized exposure		2.35	%		2.47	%		2.59	%		2.95	%		3.44	%

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

⁽¹⁾

The decline in nonperforming securities was primarily driven by an exchange of nonperforming securities for a combination of performing securities in Argentina that resulted from the completion of a government mandated securities exchange program.

⁽²⁾

Balances do not include $50, $93, $49, $76 and $151 of nonperforming assets, primarily loans held-for-sale, included in Other Assets at December 31, 2005, September 30, 2005, June 30, 2005, March 31, 2005 and December 31, 2004, 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)


	Fourth Quarter 2005					Third Quarter 2005					Second Quarter 2005					First Quarter 2005					Fourth Quarter 2004
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	5		0.01	%	$	7		0.02	%	$	11		0.03	%	$	4		0.01	%	$	6		0.01	%
Credit card		1,366		9.53			772		5.55			774		5.91			740		5.85			691		5.57
Home equity lines		7		0.04			9		0.06			9		0.07			6		0.05			4		0.03
Direct/Indirect consumer		81		0.69			60		0.50			46		0.43			61		0.60			55		0.55
Other consumer⁽¹⁾		118		7.06			58		3.42			43		2.48			56		3.12			45		2.39

Total consumer		1,577		1.79			906		1.06			883		1.09			867		1.07			801		0.98

Commercial - domestic		97		0.28			54		0.17			(7	)	(0.02	)		26		0.09			27		0.09
Commercial real estate		(3	)	(0.03	)		2		0.02			1		0.01			—		—			1		0.02
Commercial lease financing		(12	)	(0.25	)		209		4.06			9		0.19			25		0.48			11		0.21
Commercial - foreign		(11	)	(0.21	)		(26	)	(0.55	)		(6	)	(0.15	)		(29	)	(0.66	)		5		0.09

Total commercial		71		0.13			239		0.47			(3	)	(0.01	)		22		0.05			44		0.09

Total net charge-offs	$	1,648		1.16		$	1,145		0.84		$	880		0.68		$	889		0.69		$	845		0.65

By Business Segment:
Global Consumer and Small Business Banking	$	1,535		4.08	%	$	887		2.42	%	$	861		2.44	%	$	817		2.38	%	$	756		2.18	%
Global Business and Financial Services		114		0.24			292		0.63			(8	)	(0.02	)		82		0.19			72		0.17
Global Capital Markets and Investment Banking		(27	)	(0.29	)		(52	)	(0.63	)		3		0.04			(43	)	(0.50	)		(25	)	(0.29	)
Global Wealth and Investment Management		(1	)	(0.01	)		(1	)	(0.01	)		5		0.04			—		—			3		0.03
All Other		27		0.09			19		0.06			19		0.07			33		0.10			39		0.12

Total net charge-offs	$	1,648		1.16		$	1,145		0.84		$	880		0.68		$	889		0.69		$	845		0.65

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

⁽¹⁾

Includes lease financing of $2 million, $2 million, $2 million, $3 million and $5 million for the quarters ended December 31, 2005, September 30, 2005, June 30, 2005, March 31, 2005 and December 31, 2004, respectively.

LOGO

Bank of America Corporation

Year-to-Date Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)


	Year Ended December 31
	2005					2004
	Amount			Percent		Amount			Percent
Residential mortgage	$	27		0.02	%	$	36		0.02	%
Credit card		3,652		6.76			2,305		5.31
Home equity lines		31		0.05			15		0.04
Direct/Indirect consumer		248		0.55			208		0.55
Other consumer⁽¹⁾		275		3.99			193		2.51

Total consumer		4,233		1.26			2,757		0.93

Commercial - domestic		170		0.13			177		0.15
Commercial real estate		—		—			(3	)	(0.01	)
Commercial lease financing		231		1.13			9		0.05
Commercial - foreign		(72	)	(0.39	)		173		1.05

Total commercial		329		0.16			356		0.20

Total net charge-offs	$	4,562		0.85		$	3,113		0.66

By Business Segment:
Global Consumer and Small Business Banking	$	4,100		2.85	%	$	2,541		2.08	%
Global Business and Financial Services		480		0.27			266		0.18
Global Capital Markets and Investment Banking		(119	)	(0.35	)		126		0.37
Global Wealth and Investment Management		3		0.01			6		0.01
All Other		98		0.08			174		0.14

Total net charge-offs	$	4,562		0.85		$	3,113		0.66

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

⁽¹⁾

Includes lease financing of $9 million and $27 million for the year ended December 31, 2005 and 2004.

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 Leases, and Loan Commitments		Other Financing⁽²⁾		Derivative Assets⁽³⁾		Securities/ Other Investments⁽⁴⁾		Total Cross- border Exposure⁽⁵⁾		Local Country Exposure Net of Local Liabilities⁽⁶⁾		Total Foreign Exposure December 31, 2005		Increase/ (Decrease) from December 31, 2004
*Region/Country*
Asia Pacific
China⁽⁷⁾	$	172	$	91	$	110	$	3,031	$	3,404	$	0	$	3,404	$	3,296
India		547		176		341		482		1,546		45		1,591		99
South Korea		267		474		52		305		1,098		57		1,155		(228	)
Taiwan		266		77		84		48		475		448		923		(404	)
Hong Kong		216		76		99		216		607		0		607		(512	)
Singapore		209		7		45		209		470		0		470		130
Other Asia Pacific⁽⁸⁾		46		88		43		248		425		170		595		49

Total Asia Pacific		1,723		989		774		4,539		8,025		720		8,745		2,430

Latin America
Brazil⁽⁹⁾		1,008		187		0		44		1,239		2,232		3,471		(79	)
Mexico		821		176		58		2,271		3,326		0		3,326		460
Chile		236		19		0		8		263		717		980		(200	)
Argentina		68		24		0		102		194		0		194		(197	)
Other Latin America⁽⁸⁾		126		134		7		84		351		8		359		(716	)

Total Latin America		2,259		540		65		2,509		5,373		2,957		8,330		(732	)

Central and Eastern Europe⁽⁸⁾		26		42		9		65		142		0		142		(99	)

Total	$	4,008	$	1,571	$	848	$	7,113	$	13,540	$	3,677	$	17,217	$	1,599

⁽¹⁾

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

⁽²⁾

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

⁽³⁾

Derivative assets are reported on a mark-to-market basis and have not been reduced by the amount of collateral applied. Derivative asset collateral totaled $58 million and and $361 million at December 31, 2005 and 2004.

⁽⁴⁾

Generally, cross-border resale agreements are presented based on the domicile of the counterparty because the counterparty has the legal obligation for repayment except where the underlying securities are U.S. Treasuries, in which case the domicile is in the U.S., and therefore, excluded from this presentation. For regulatory reporting under Federal Financial Institutions Examination 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 or counterparties with a country of residence other than the one in which the credit is booked, regardless of the currency in which the claim is denominated, consistent with FFIEC reporting 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 available local liabilities funding local country exposure at December 31, 2005 was $24.2 billion compared to $17.2 billion at December 31, 2004. Local liabilities at December 31, 2005 in Asia Pacific and Latin America was $13.6 billion and $10.6 billion, of which $8.4 billion was in Hong Kong, $5.3 billion in Brazil, $3.1 billion in Singapore, $1.7 billion in Argentina, $1.6 billion in Chile, $1.2 billion in Mexico, $782 million in India and $718 million in Uruguay. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

⁽⁷⁾

Securities/Other Investments includes equity investment of $3.0 billion in China Construction Bank (CCB).

⁽⁸⁾

Other Asia Pacific, Other Latin America and Central and Eastern Europe include countries each with total foreign exposure of less than $300 million.

⁽⁹⁾

The Corporation has risk mitigation instruments associated with certain exposures for Brazil, including structured trade related transfer risk mitigation of $830 million and $950 million, third party funding of $313 million and $286 million, and linked certificates of deposit of $59 million and $125 million at December 31, 2005 and 2004. The resulting total foreign exposure net of risk mitigation was $2.3 billion and $2.2 billion at December 31, 2005 and 2004.

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

Total Corporation

The following pro forma combined financial information and explanatory notes present how the combined financial statements of Bank of America and FleetBoston may have appeared had the businesses actually been combined at the beginning of the period presented. The pro forma combined financial information is presented for illustrative purposes only and does not indicate the financial results of the combined companies had the companies actually been combined at the beginning of the period presented and had the impact of possible revenue enhancements, expense efficiencies, hedging activities, asset dispositions, and share repurchases, among other factors, been considered.


	For the Year Ended December 31, 2004
*(Dollars in millions, except per share information)*	Bank of America Post Merger		FleetBoston Premerger		Pro Forma Adjustments				Combined
Net interest income	$	28,794	$	1,705	$	82		(A) (B) (C) (D) (E)	$	30,581
Noninterest income
Service charges		6,989		385		(38	)	(F)		7,336
Investment and brokerage services		3,614		413						4,027
Mortgage banking income		414		6						420
Investment banking income		1,886		33						1,919
Equity investment gains		863		86						949
Card income		4,592		152		148		(C) (F) (G)		4,892
Trading account profits		869		49						918
Other income		858		284		—				1,142

Total noninterest income		20,085		1,408		110				21,603

Total revenue		48,879		3,113		192				52,184
Provision for credit losses		2,769		—		—				2,769
Gains on sales of securities		2,123		49		—				2,172
Noninterest expense
Personnel		13,435		899		(5	)	(H)		14,329
Occupancy		2,379		136		(14	)	(I)		2,501
Equipment		1,214		101		(5	)	(I)		1,310
Marketing		1,349		95		53		(G)		1,497
Professional Fees		836		89						925
Amortization of intangibles		664		21		120		(J)		805
Data Processing		1,330		103						1,433
Telecommunications		730		21						751
Other general operating (including indirect expenses)		4,457		499		—				4,956
Merger and restructuring charges		618		—						618

Total noninterest expense		27,012		1,964		149				29,125

Income before income taxes		21,221		1,198		43				22,462
Income tax expense		7,078		425		56		(K)		7,559

Net income		14,143		773		(13	)			14,903
Net income available to common shareholders		14,127		768		(13	)			14,882
Earnings per share		3.76		0.72						3.67
Diluted earnings per share		3.69		0.71						3.61
Merger and restructuring charges, net of tax		411		—		—				411
Operating net income		14,554		773		(13	)			15,314
Operating net income available to common shareholders		14,538		768		(13	)			15,293
Operating diluted earnings per share		3.80		0.71						3.71
Impact of merger and restructuring charges	$	0.11	$	—	$	(0.01	)		$	0.10
Average common shares issued and outstanding (in thousands)		3,758,507		1,071,104		(775,289	)	(L)		4,054,322
Average diluted common shares issued and outstanding (in thousands)		3,823,943		1,086,636		(785,908	)	(L)		4,124,671

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

Global Consumer and Small Business


	For the Year Ended December 31, 2004
*(Dollars in millions)*	Bank of America Post Merger			FleetBoston Premerger		Pro Forma Adjustments			(M)	Combined
Net interest income	$	15,911		$	967	$	(10	)		$	16,868
Noninterest income
Service charges		4,329			191		(38	)			4,482
Investment and brokerage services		—			—						—
Mortgage banking income		589			6						595
Investment banking income		—			—						—
Equity investment gains		—			—						—
Card income		4,359			120		148				4,627
Trading account profits		(361	)		6						(355	)
Other income		329			20		—				349

Total noninterest income		9,245			343		110				9,698

Total revenue		25,156			1,310		100				26,566
Provision for credit losses		3,333			143						3,476
Gains on sales of securities		117			—						117
Noninterest expense
Personnel		3,181			197						3,378
Occupancy		1,165			74		(1	)			1,238
Equipment		205			13						218
Marketing		1,061			57		55				1,173
Professional Fees		76			6						82
Amortization of intangibles		441			15		80				536
Data Processing		360			14						374
Telecommunications		199			3						202
Other general operating (including indirect expenses)		5,867			250		(1	)			6,116
Merger and restructuring charges		—			—						—

Total noninterest expense		12,555			629		133				13,317

Income before income taxes		9,385			538		(33	)			9,890
Income tax expense		3,414			242		(43	)			3,613

Net Income	$	5,971		$	296	$	10			$	6,277

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

Global Business and Financial Services


	For the Year Ended December 31, 2004
*(Dollars in millions)*	Bank of America Post Merger			FleetBoston Premerger		Pro Forma Adjustments			(M)	Combined
Net interest income	$	6,534		$	549	$	30			$	7,113
Noninterest income
Service charges		1,287			118						1,405
Investment and brokerage services		168			36						204
Mortgage banking income		7			4						11
Investment banking income		132			19						151
Equity investment gains		52			2						54
Card income		82			9						91
Trading account profits		128			36						164
Other income		861			187		—				1,048

Total noninterest income		2,717			411		—				3,128

Total revenue		9,251			960		30				10,241
Provision for credit losses		(442	)		81						(361	)
Gains on sales of securities		—			—						—
Noninterest expense
Personnel		1,517			236						1,753
Occupancy		217			28		(3	)			242
Equipment		46			14		(1	)			59
Marketing		62			8						70
Professional Fees		69			13						82
Amortization of intangibles		113			3		21				137
Data Processing		65			18						83
Telecommunications		45			6						51
Other general operating (including indirect expenses)		1,464			211		5				1,680
Merger and restructuring charges		—			—						—

Total noninterest expense		3,598			537		22				4,157

Income before income taxes		6,095			342		8				6,445
Income tax expense		2,251			109		10				2,370

Net Income	$	3,844		$	233	$	(2	)		$	4,075

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

Global Capital Markets and Investment Banking


	For the Year Ended December 31, 2004
*(Dollars in millions)*	Bank of America Post Merger			FleetBoston Premerger		Pro Forma Adjustments			(M)	Combined
Net interest income	$	4,058		$	161	$	(9	)		$	4,210
Noninterest income
Service charges		1,287			56						1,343
Investment and brokerage services		705			15						720
Mortgage banking income		7			2						9
Investment banking income		1,783			7						1,790
Equity investment gains		58			—						58
Card income		151			—						151
Trading account profits		1,023			26						1,049
Other income		(26	)		50		—				24

Total noninterest income		4,988			156		—				5,144

Total revenue		9,046			317		(9	)			9,354
Provision for credit losses		(445	)		15						(430	)
Gains on sales of securities		(10	)		—						(10	)
Noninterest expense
Personnel		2,356			39						2,395
Occupancy		254			5						259
Equipment		33			—						33
Marketing		52			—						52
Professional Fees		213			1						214
Amortization of intangibles		43			2		4				49
Data Processing		67			2						69
Telecommunications		43			—						43
Other general operating (including indirect expense allocations)		3,520			81		(1	)			3,600
Merger and restructuring charges		—			—						—

Total noninterest expense		6,581			130		3				6,714

Income before income taxes		2,900			172		(12	)			3,060
Income tax expense		976			81		(16	)			1,041

Net Income	$	1,924		$	91	$	4			$	2,019

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

Global Wealth and Investment Management


	For the Year Ended December 31, 2004
*(Dollars in millions)*	Bank of America Post Merger			FleetBoston Premerger			Pro Forma Adjustments			(M)	Combined
Net interest income	$	2,869		$	83		$	—			$	2,952
Noninterest income
Service charges		82			1							83
Investment and brokerage services		2,728			379							3,107
Mortgage banking income		58			—							58
Investment banking income		19			3							22
Equity investment gains		3			3							6
Card income		—			—							—
Trading account profits		86			41							127
Other income		88			15			—				103

Total noninterest income		3,064			442			—				3,506

Total revenue		5,933			525			—				6,458
Provision for credit losses		(20	)		2							(18	)
Gains on sales of securities		—			—							—
Noninterest expense
Personnel		1,422			165							1,587
Occupancy		155			17			(1	)			171
Equipment		21			3							24
Marketing		41			5							46
Professional Fees		151			13							164
Amortization of intangibles		62			(1	)		14				75
Data Processing		56			13							69
Telecommunications		30			2							32
Other general operating (including indirect expenses)		1,493			332			(1	)			1,824
Merger and restructuring charges		—			—							—

Total noninterest expense		3,431			549			12				3,992

Income before income taxes		2,522			(26	)		(12	)			2,484
Income tax expense		917			37			(16	)			938

Net Income	$	1,605		$	(63	)	$	4			$	1,546

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

Bank of America/FleetBoston

Pro Forma Combined Statement of Income

All Other


	For the Year Ended December 31, 2004
*(Dollars in millions)*	Bank of America Post Merger			FleetBoston Premerger			Pro Forma Adjustments			(M)	Combined
Net interest income (Includes FTE offset)	$	(578	)	$	(55	)	$	71			$	(562	)
Noninterest income
Service charges		4			19			—				23
Investment and brokerage services		13			(17	)		—				(4	)
Mortgage banking income		(247	)		(6	)		—				(253	)
Investment banking income		(48	)		4			—				(44	)
Equity investment gains		750			81			—				831
Card income		—			23			—				23
Trading account profits		(7	)		(60	)		—				(67	)
Other income		(394	)		12			—				(382	)

Total noninterest income		71			56			—				127

Total revenue		(507	)		1			71				(435	)
Provision for credit losses		343			(241	)		—				102
Gains on sales of securities		2,016			49			—				2,065
Noninterest expense
Personnel		4,959			262			(5	)			5,216
Occupancy		588			12			(9	)			591
Equipment		909			71			(4	)			976
Marketing		133			25			(2	)			156
Professional Fees		327			56			—				383
Amortization of intangibles		5			2			1				8
Data Processing		782			56			—				838
Telecommunications		413			10			—				423
Other general operating (including indirect expenses)		(7,887	)		(375	)		(2	)			(8,264	)
Merger and restructuring charges		618			—			—				618

Total noninterest expense		847			119			(21	)			945

Income before income taxes		319			172			92				583
Income tax expense (includes FTE offset)		(480	)		(44	)		121				(403	)

Net Income	$	799		$	216		$	(29	)		$	986

Certain prior

period amounts have been reclassified to conform with current period presentation.

The pro forma adjustments included in the unaudited pro forma condensed combined financial information are as follows:

(A)

An adjustment of $770 million to decrease the book value of the loan and lease portfolio to fair value was recorded. The adjustment will be recognized over the estimated remaining life of the loan and lease portfolio. The impact of the adjustment was to increase Interest Income by approximately $40 million for the year ended December 31, 2004.

(B)

An adjustment of $84 million to decrease the book value of the securities portfolio to fair value was recorded. Certain unrealized gains currently reflected in other comprehensive income by FleetBoston will be accounted for as a premium paid by Bank of America and will be recognized over the remaining life of the securities portfolio. The impact of the amortization of the premium/ discount was to increase Interest Income by approximately $11 million for the year ended December 31, 2004.

(C)	An adjustment of $54 million to reclassify FleetBoston’s credit card late fee revenue from Other Interest Income to Card Income to conform with Bank of America’s classification.

(D)

An adjustment of $313 million to increase the book value of fixed-rate deposit liabilities to fair value was recorded. The adjustment will be recognized over the estimated remaining term of the related deposit liabilities. The impact of the adjustment was to decrease Interest Expense by approximately $20 million for the year ended December 31, 2004.

(E)

An adjustment of $1.182 billion to increase the book value of outstanding long-term debt instruments to fair value was recorded. The adjustment will be recognized over the remaining life of the long-term debt instruments. The impact of the fair value adjustment was to decrease Interest Expense by approximately $66 million for the year ended December 31, 2004.

(F)	Adjustment to reclassify FleetBoston’s debit card revenue from Service Charges to Card Income to conform with Bank of America’s classification.

(G)

Adjustment to reclassify FleetBoston’s credit card marketing expense from Card Income to Marketing Expense to conform with Bank of America’s classification. The impact of this reclassification was to increase both Card Income and Marketing Expense by approximately $53 million for the year ended December 31, 2004.

(H)	Adjustment of fixed-rate deferred compensation plans to current interest rates.

(I)

An adjustment of $738 million to decrease the book value of owned real estate, leased property and related improvements, signage and computer equipment to fair value was recorded. The effect of these adjustments was to reduce occupancy costs by $14 million and equipment costs by $5 million for the year ended December 31, 2004.

(J)

For purchase accounting a core deposit intangible of $2.174 billion, a purchased credit card relationship intangible of $660 million and other customer relationship intangibles of $409 million were recorded. These intangibles will be amortized over a period not to exceed ten years, on an accelerated basis for the core deposit intangible and purchased credit card relationship intangible and a straight-line basis for the other customer relationship intangibles. The value of the intangibles represents the estimated future economic benefit resulting from the acquired customer balances and relationships. This value was estimated by considering cash flows from the current balances of accounts, expected growth or attrition in balances, and the estimated life of the relationship. The impact of these adjustments was to increase Amortization of Intangibles $120 million for the year ended December 31, 2004.

(K)

Adjustment to record the tax effect of the pro forma adjustments using Bank of America’s statutory tax rate of 36.9 percent. The increase in the effective tax rate from the statutory rate of 36.9 percent reflects the effect of the accounting for leverage leases in accordance with Financial Accounting Standards Board Interpretation No. 21 “Accounting for Leases in a Business Combination.”

(L)

Weighted average shares were calculated using the historical weighted average shares outstanding for Bank of America and FleetBoston, adjusted using the exchange ratio to obtain the equivalent shares of Bank of America common stock for the year ended December 31, 2004. Both the historical weighted average shares outstanding of Bank of America and the exchange ratio have been adjusted to reflect the stock split. Earnings per share data has been computed based on the combined historical income of Bank of America, income from continuing operations for FleetBoston and the impact of pro forma purchase accounting adjustments.

(M)	Reflects purchase accounting adjustments which were allocated to the business segments and All Other primarily based on how the assets acquired and liabilities assumed in the FleetBoston acquisition were allocated to the respective business segments.

Bank of America/FleetBoston

Additional Pro Forma Calculations

For the Year Ended December 31, 2004


*(Dollars in millions)*	Bank of America Postmerger		FleetBoston Premerger		Pro Forma Adjustments			Combined
Average Managed Credit Card Balance Outstanding
Average Managed Credit Card Balance Outstanding	$	50,296	$	4,144	$	—		$	54,440
Card Services - Managed
Total revenue		8,140		673		54	(A)		8,867
Income before taxes		2,332		249		(23	)		2,558
Net income		1,492		159		8	(A)		1,659
Card Services - Held
Total revenue		7,526		441		54	(A)		8,021
Income before taxes		2,242		190		(23	)		2,409
Net income		1,435		122		6	(A)		1,563
Consumer and Small Business Banking Excluding Card Services - Held
Total revenue - Consumer and Small Business Banking	$	25,156	$	1,310	$	100	(B)	$	26,566
Total revenue - Card Services		7,526		441		54	(A)		8,021

Total revenue - Consumer and Small Business Banking excluding Card Services - Held	$	17,630	$	869	$	46		$	18,545

Net income - Consumer and Small Business Banking	$	5,971	$	296	$	10	(B)	$	6,277
Net income - Card Services		1,435		122		6	(A)		1,563

Net income - Consumer and Small Business Banking excluding Card Services - Held	$	4,536	$	174	$	4		$	4,714

Global Treasury Services
Total revenue		4,637		307		—			4,944
Net income		1,257		119		—			1,376
Core Net Interest Income
Net interest income (FTE)	$	29,511	$	1,718	$	82	(C)	$	31,311
Trading related net interest income		2,039		—		—			2,039

Core net interest income	$	27,472	$	1,718	$	82	(C)	$	29,272

(A)	- Includes pro forma adjustments A, C, G and J as described on page 35 related to Card Services.

(B)	- Includes pro forma adjustments A, C, F, G, I and J as described on page 35 related to Global Consumer and Small Business Banking.

(C)	- Includes pro forma adjustments A, B, C, D and E as described on page 35.

The difference between the held and managed information above is the impact of the securitized portfolio.

MBNA Corporation

Financial Highlights


	For the Three Months Ended December 31,						For the Twelve Months Ended December 31,
*(Dollars in millions, except per share information)*	2005			2004			2005			2004
For the Period
Net income	$	389		$	769		$	1,771		$	2,677
Total revenue		2,509			2,819			10,275			10,794
Noninterest expense		1,658			1,354			6,541			5,517
Provision for credit losses		279			257			1,001			1,147
Per Common Share
Earnings per common share	$	.30		$	.60		$	1.39		$	2.08
Diluted earnings per common share		.30			.59			1.37			2.05
Cash dividends declared		.14			.12			.56			.48
Book value (period-end)		10.64			10.26
At Period-End
Assets	$	61,862		$	61,714
Loan receivables		37,507			33,759
Deposits		28,661			31,240
Total stockholders’ equity		13,410			13,323
Ratios
Return on average assets		2.50	%		4.96	%		2.86	%		4.39	%
Return on average common stockholders’ equity		11.70			23.65			13.61			22.09
Net interest margin⁽¹⁾		5.89			5.36			5.72			5.33
Total equity to total assets (period-end)		21.68			21.59
Tier 1 capital⁽²⁾	$	13,804		$	13,968
Leverage ratio⁽²⁾		22.58	%		22.80	%
Tier 1 risk-based capital ratio⁽²⁾		20.56			21.82
Total risk-based capital ratio⁽²⁾		23.44			25.39
Asset Quality - Loan Receivables
Delinquency⁽³⁾		2.54	%		3.29	%
Net credit loss⁽⁴⁾		4.66			3.74			3.88	%		4.26	%
Volume
Sales volume	$	40,382		$	38,023		$	148,618		$	137,207
Cash advance volume		20,593			15,993			79,915			68,954

Total volume	$	60,975		$	54,016		$	228,533		$	206,161

Managed Data⁽⁵⁾
At Period End:
Loan receivables	$	37,507		$	33,759
Securitized loans		90,062			87,859

Total managed loans	$	127,569		$	121,618

Average for the Period:
Loan receivables	$	35,915		$	31,474		$	33,437		$	31,056
Securitized loans		88,940			87,496			86,508			87,040

Total managed loans	$	124,855		$	118,970		$	119,945		$	118,096

For the Period:
Delinquency ⁽³⁾		3.47	%		4.13	%
Net credit loss ⁽⁴⁾		5.92			4.43			4.84	%		4.74	%
Net interest margin ⁽¹⁾		6.88			7.94			7.44			7.98
Total revenue	$	3,939		$	3,841		$	14,781		$	15,071
Provision for credit losses		1,709			1,279			5,507			5,424

⁽¹⁾

Net interest margin ratios are presented on a fully taxable equivalent basis.

⁽²⁾

December 31, 2005 amounts are estimates.

⁽³⁾

Delinquency represents accruing loans that are 30 days or more past due.

⁽⁴⁾

MBNA Corporation’s net credit loss ratio is calculated by dividing annualized net credit losses, which exclude uncollectible accrued interest and fees and fraud losses, for the period by average loans, which include the estimated collectible billed interest and fees for the corresponding period.

⁽⁵⁾

MBNA Corporation allocates resources on a managed basis, and financial data provided to management reflects MBNA Corporation’s results on a managed basis. Managed data assumes MBNA Corporation’s securitized loan principal receivables have not been sold and presents the earnings on securitized loan principal receivables in the same fashion as MBNA Corporation’s owned loans. Management, equity and debt analysts, rating agencies and others evaluate MBNA Corporation’s operations on a managed basis because the loans that are securitized are subject to underwriting standards comparable to MBNA Corporation’s owned loans, and MBNA Corporation services the securitized and owned loans, and the related accounts, together and in the same manner without regard to ownership of the loans. In a securitization, the account relationships are not sold to the trust. MBNA Corporation continues to own and service the accounts that generate the securitized loan principal receivables. The credit performance of the entire managed loan portfolio is important to understand the quality of loan originations and the related credit risks inherent in the owned portfolio and retained interests in its securitization transactions.

Exhibit A reconciles as reported income statement data for the period to managed revenue and managed provision for credit losses, the loan receivables net credit loss ratio to the managed net credit loss ratio, the loan receivables delinquency ratio to the managed delinquency ratio, and the net interest margin ratio to the managed net interest margin ratio. Managed revenue includes the impact of the gain recognized on securitized loan principal receivables in accordance with Statement of Financial Accounting Standards No. 140, “Accounting for Transfers and Servicing of Financial Assets and Extinguishments of Liabilities - a replacement of FASB Statement No. 125” (“Statement No. 140”).

MBNA Corporation

Consolidated Statements of Income


	For the Three Months Ended December 31,				For the Twelve Months Ended December 31,
*(Dollars in millions, except per share data)*	2005		2004		2005		2004
Net interest income	$	718	$	663	$	2,767	$	2,537
Noninterest income:
Securitization income		1,246		1,772		5,700		6,753
Interchange		115		123		456		442
Loan fees		263		183		881		756
Insurance		70		51		256		201
Other		97		27		215		105

Total noninterest income		1,791		2,156		7,508		8,257

Total revenue		2,509		2,819		10,275		10,794
Provision for credit losses		279		257		1,001		1,147
Gains on sales of debt securities		—		1		—		1
Noninterest expense:
Personnel		521		555		2,103		2,221
Occupancy		44		47		172		185
Equipment		120		111		468		405
Restructuring charge		2		—		766		—
Merger related stock based compensation		180		—		180		—
Other		791		641		2,852		2,706

Total noninterest expense		1,658		1,354		6,541		5,517

Income before income taxes		572		1,209		2,733		4,131
Income tax expense		183		440		962		1,454

Net income	$	389	$	769	$	1,771	$	2,677

Earnings per common share	$	.30	$	.60	$	1.39	$	2.08
Diluted earnings per common share		.30		.59		1.37		2.05

MBNA Corporation

Consolidated Balance Sheets - Period End


	December 31,
*(Dollars in millions)*	2005			2004
Assets:
Cash and cash equivalents	$	1,126		$	950
Investments		6,818			10,734
Loan receivables		37,507			33,759
Allowance for loan losses		(837	)		(1,137	)

Loan receivables, net of allowance		36,670			32,622
Accounts receivable from securitization		8,432			8,444
Intangible assets and goodwill, net		3,573			3,573
Other assets		5,243			5,391

Total assets	$	61,862		$	61,714

Liabilities:
Deposits	$	28,661		$	31,240
Short-term borrowings		2,730			2,104
Long-term debt		13,698			11,423
Other liabilities		3,363			3,624

Total liabilities		48,452			48,391
Stockholders’ equity:
Preferred stock ($.01 par value; authorized - 20,000,000 shares; issued and outstanding - 0 and 8,573,882 shares)		—			206
Common stock ($.01 par value; authorized - 1,500,000,000 shares; issued and outstanding - 1,260,047,757 and 1,277,671,875 shares)		13,410			13,117

Total stockholders’ equity		13,410			13,323

Total liabilities and stockholders’ equity	$	61,862		$	61,714

MBNA Corporation

Average Balances and Interest Rates – Fully Taxable Equivalent Basis⁽¹⁾


For the Three Months Ended,	December 31, 2005							December 31, 2004
*(FTE Basis)* *(Dollars in millions)*	Average Balance			Interest or Expense		Yield / Rate		Average Balance			Interest or Expense		Yield / Rate
Assets:
Investments	$	8,874		$	83	3.73	%	$	13,614		$	85	2.50	%
Other interest-earning assets		3,595			84	9.22			4,181			81	7.67
Domestic loan receivables		23,584			688	11.56			21,131			635	11.95
Foreign loan receivables		12,331			327	10.53			10,343			265	10.20

Total interest-earning assets		48,384			1,182	9.69			49,269			1,066	8.61
Allowance for loan losses		(941	)						(1,147	)
Other assets		14,350							13,577

Total assets	$	61,793						$	61,699

Liabilities:
Interest-bearing deposits:
Domestic time deposits	$	18,451			185	3.99		$	20,834			204	3.90
Domestic money market deposit accounts		6,441			62	3.81			6,876			30	1.74
Domestic other deposits		14			—	3.40			159			1	1.62
Foreign time deposits		977			7	2.69			1,295			14	4.46

Total interest-bearing deposits		25,883			254	3.90			29,164			249	3.40
Short-term borrowings		2,199			25	4.51			1,921			26	5.34
Long-term debt		13,756			184	5.30			11,437			128	4.44

Total interest-bearing liabilities		41,838			463	4.39			42,522			403	3.77
Noninterest-bearing deposits		2,828							2,701
Other liabilities		3,926							3,335

Total liabilities		48,592							48,558
Stockholders’ equity		13,201							13,141

Total liabilities and stockholders’ equity	$	61,793						$	61,699

Net interest income				$	719						$	663

Net interest margin						5.89							5.36
Net interest spread						5.30							4.84


For the Twelve Months Ended,	December 31, 2005							December 31, 2004
(FTE Basis) (Dollars in millions)	Average Balance			Interest or Expense		Yield / Rate		Average Balance			Interest or Expense		Yield / Rate
Assets:
Investments	$	11,213		$	376	3.35	%	$	12,446		$	262	2.11	%
Other interest-earning assets		3,793			337	8.88			4,121			316	7.67
Domestic loan receivables		21,563			2,550	11.83			21,496			2,517	11.71
Foreign loan receivables		11,874			1,260	10.62			9,560			975	10.20

Total interest-earning assets		48,443			4,523	9.34			47,623			4,070	8.55
Allowance for loan losses		(1,035	)						(1,206	)
Other assets		14,480							14,536

Total assets	$	61,888						$	60,953

Liabilities:
Interest-bearing deposits:
Domestic time deposits	$	19,843			777	3.92		$	20,849			830	3.98
Domestic money market deposit accounts		6,390			193	3.02			7,437			121	1.62
Domestic other deposits		72			2	2.48			137			2	1.24
Foreign time deposits		1,245			48	3.87			818			29	3.57

Total interest-bearing deposits		27,550			1,020	3.70			29,241			982	3.36
Short-term borrowings		2,241			97	4.33			1,923			77	4.00
Long-term debt		12,623			637	5.05			11,715			473	4.04

Total interest-bearing liabilities		42,414			1,754	4.14			42,879			1,532	3.57
Noninterest-bearing deposits		2,810							2,653
Other liabilities		3,491							3,093

Total liabilities		48,715							48,625
Stockholders’ equity		13,173							12,328

Total liabilities and stockholders’ equity	$	61,888						$	60,953

Net interest income				$	2,769						$	2,538

Net interest margin						5.72							5.33
Net interest spread						5.20							4.98

⁽¹⁾

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

MBNA Corporation

Exhibit A (Dollars in millions)

RECONCILIATION OF INCOME STATEMENT DATA FOR THE PERIOD TO MANAGED REVENUE AND MANAGED PROVISION FOR CREDIT LOSSES


	For the Three Months Ended December 31,				For the Twelve Months Ended December 31,
	2005		2004		2005		2004
Total revenue:
Total revenue	$	2,509	$	2,819	$	10,275	$	10,794
Securitization adjustments		1,430		1,022		4,506		4,277

Managed revenue	$	3,939	$	3,841	$	14,781	$	15,071

Provision for credit losses:
Provision for credit losses	$	279	$	257	$	1,001	$	1,147
Securitization adjustments		1,430		1,022		4,506		4,277

Managed provision for credit losses	$	1,709	$	1,279	$	5,507	$	5,424

RECONCILIATION OF THE LOAN RECEIVABLES NET CREDIT LOSS RATIO TO THE MANAGED NET CREDIT LOSS RATIO


	Net Credit Losses⁽¹⁾		Average Loans Outstanding		Net Credit Loss Ratio⁽¹⁾
	For the Three Months Ended December 31, 2005
Loan receivables	$	419	$	35,915	4.66	%
Securitized loans		1,430		88,940	6.43

Managed loans	$	1,849	$	124,855	5.92


	For the Twelve Months Ended December 31, 2005

Loan receivables	$	1,297	$	33,437	3.88
Securitized loans		4,506		86,508	5.21

Managed loans	$	5,803	$	119,945	4.84


	For the Three Months Ended December 31, 2004

Loan receivables	$	295	$	31,474	3.74
Securitized loans		1,022		87,496	4.67

Managed loans	$	1,317	$	118,970	4.43


	For the Twelve Months Ended December 31, 2004

Loan receivables	$	1,324	$	31,056	4.26
Securitized loans		4,277		87,040	4.91

Managed loans	$	5,601	$	118,096	4.74

RECONCILIATION OF THE LOAN RECEIVABLES DELINQUENCY RATIO TO THE MANAGED DELINQUENCY RATIO


	Delinquent Balances⁽²⁾		Ending Loans Outstanding		Delinquency Ratio⁽²⁾
	December 31, 2005
Loan receivables	$	951	$	37,507	2.54	%
Securitized loans		3,478		90,062	3.86

Managed loans	$	4,429	$	127,569	3.47


	December 31, 2004

Loan receivables	$	1,111	$	33,759	3.29
Securitized loans		3,914		87,859	4.45

Managed loans	$	5,025	$	121,618	4.13

MBNA Corporation

Exhibit A (Dollars in millions)

RECONCILIATION OF THE NET INTEREST MARGIN RATIO TO THE MANAGED NET INTEREST MARGIN RATIO


	Average Earning Assets			Net Interest Income		Net Interest Margin Ratio
	For the Three Months Ended December 31, 2005

Net interest margin⁽³⁾:
Investments	$	8,874
Other interest-earning assets		3,595
Loan receivables		35,915

Total	$	48,384		$	719	5.89	%

Securitization adjustments:
Investments	$	—
Other interest-earning assets		(3,513	)
Securitized loans		88,940

Total	$	85,427			1,603	7.44

Managed net interest margin⁽³⁾:
Investments	$	8,874
Other interest-earning assets		82
Managed loans		124,855

Total	$	133,811			2,322	6.88


	For the Twelve Months Ended December 31, 2005

Net interest margin⁽³⁾:
Investments	$	11,213
Other interest-earning assets		3,793
Loan receivables		33,437

Total	$	48,443			2,769	5.72

Securitization adjustments:
Investments	$	—
Other interest-earning assets		(3,715	)
Securitized loans		86,508

Total	$	82,793			6,998	8.45

Managed net interest margin⁽³⁾:
Investments	$	11,213
Other interest-earning assets		78
Managed loans		119,945

Total	$	131,236			9,767	7.44

MBNA Corporation

Exhibit A (Dollars in millions)

RECONCILIATION OF THE NET INTEREST MARGIN RATIO TO THE MANAGED NET INTEREST MARGIN RATIO - continued


	Average Earning Assets			Net Interest Income		Net Interest Margin Ratio
	For the Three Months Ended December 31, 2004
Net interest margin⁽³⁾:
Investments	$	13,614
Other interest-earning assets		4,181
Loan receivables		31,474

Total	$	49,269		$	663	5.36	%

Securitization adjustments:
Investments	$	—
Other interest-earning assets		(4,110	)
Securitized loans		87,496

Total	$	83,386			1,983	9.46

Managed net interest margin⁽³⁾:
Investments	$	13,614
Other interest-earning assets		71
Managed loans		118,970

Total	$	132,655			2,646	7.94


	For the Twelve Months Ended December 31, 2004

Net interest margin⁽³⁾:
Investments	$	12,446
Other interest-earning assets		4,121
Loan receivables		31,056

Total	$	47,623			2,538	5.33

Securitization adjustments:
Investments	$	—
Other interest-earning assets		(4,050	)
Securitized loans		87,040

Total	$	82,990			7,884	9.50

Managed net interest margin⁽³⁾:
Investments	$	12,446
Other interest-earning assets		71
Managed loans		118,096

Total	$	130,613			10,422	7.98

⁽¹⁾

⁽²⁾

Delinquency represents accruing loans that are 30 days or more past due.

⁽³⁾