Supplemental Information

Exhibit 99.2

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Supplemental Information

First Quarter 2006

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)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Income statement
Net interest income	$	8,776		$	7,859		$	7,735		$	7,637		$	7,506
Noninterest income		8,901			5,951			6,416			6,955			6,032
Total revenue		17,677			13,810			14,151			14,592			13,538
Provision for credit losses		1,270			1,400			1,159			875			580
Gains on sales of debt securities		14			71			29			325			659
Noninterest expense		8,924			7,320			7,285			7,019			7,057
Income tax expense		2,511			1,587			1,895			2,366			2,167
Net income		4,986			3,574			3,841			4,657			4,393
Diluted earnings per common share		1.07			0.88			0.95			1.14			1.07
Average diluted common shares issued and outstanding		4,666,405			4,053,859			4,054,659			4,065,355			4,099,062
Dividends paid per common share	$	0.50		$	0.50		$	0.50		$	0.45		$	0.45
Performance ratios
Return on average assets		1.43	%		1.09	%		1.18	%		1.46	%		1.49	%
Return on average common shareholders’ equity		15.44			14.21			15.09			18.93			17.97
At period end
Book value per share of common stock	$	28.19		$	25.32		$	25.28		$	25.16		$	24.45
Market price per share of common stock:
Closing price	$	45.54		$	46.15		$	42.10		$	45.61		$	44.10
High closing price for the period		47.08			46.99			45.98			47.08			47.08
Low closing price for the period		43.09			41.57			41.60			44.01			43.66
Market capitalization		208,633			184,586			168,950			183,202			177,958
Number of banking centers - domestic		5,786			5,873			5,844			5,880			5,889
Number of ATMs - domestic		16,716			16,785			16,714			16,687			16,798
Full-time equivalent employees		202,503			176,934			177,539			178,107			176,973

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Supplemental Financial Data

(Dollars in millions)

Fully taxable-equivalent basis data


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net interest income	$	9,040		$	8,102		$	7,933		$	7,828		$	7,706
Total revenue		17,941			14,053			14,349			14,783			13,738
Net interest yield		2.98	%		2.82	%		2.78	%		2.80	%		2.96	%
Efficiency ratio		49.74			52.09			50.76			47.49			51.37

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 March 31, 2006, December 31, 2005, September 30, 2005, June 30, 2005 and March 31, 2005.

Reconciliation of net income to operating earnings


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net income	$	4,986		$	3,574		$	3,841		$	4,657		$	4,393
Merger and restructuring charges		98			59			120			121			112
Related income tax benefit		(37	)		(19	)		(40	)		(41	)		(37	)

Operating earnings	$	5,047		$	3,614		$	3,921		$	4,737		$	4,468

Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
Average common shareholders’ equity	$	130,881		$	99,677		$	100,974		$	98,558		$	99,130
Average goodwill		(66,094	)		(45,305	)		(45,297	)		(45,379	)		(45,346	)

Average tangible common shareholders’ equity	$	64,787		$	54,372		$	55,677		$	53,179		$	53,784

Operating basis
Diluted earnings per common share	$	1.08		$	0.89		$	0.97		$	1.16		$	1.09
Return on average assets		1.45	%		1.10	%		1.20	%		1.49	%		1.51	%
Return on average common shareholders’ equity		15.63			14.36			15.39			19.26			18.26
Return on average tangible common shareholders’ equity		31.57			26.33			27.91			35.70			33.66
Efficiency ratio		49.19			51.66			49.92			46.67			50.55

Reconciliation of net income to shareholder value added
Net income	$	4,986		$	3,574		$	3,841		$	4,657		$	4,393
Amortization of intangibles		440			196			201			204			208
Merger and restructuring charges, net of tax benefit		61			40			80			80			75
Capital charge		(3,550	)		(2,764	)		(2,799	)		(2,703	)		(2,689	)

Shareholder value added	$	1,937		$	1,046		$	1,323		$	2,238		$	1,987

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

Information for periods beginning January 1, 2006 includes the MBNA 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)


	First Quarter 2006		Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005		First Quarter 2005
Interest income
Interest and fees on loans and leases	$	11,127	$	9,536		$	8,933		$	8,294	$	8,080
Interest and dividends on securities		3,014		2,815			2,793			2,796		2,533
Federal funds sold and securities purchased under agreements to resell		1,709		1,477			1,382			1,249		904
Trading account assets		1,548		1,585			1,550			1,426		1,182
Other interest income		727		605			547			502		437

Total interest income		18,125		16,018			15,205			14,267		13,136

Interest expense
Deposits		3,007		2,476			2,471			2,363		2,182
Short-term borrowings		4,309		3,855			3,190			2,582		1,988
Trading account liabilities		517		619			707			611		427
Long-term debt		1,516		1,209			1,102			1,074		1,033

Total interest expense		9,349		8,159			7,470			6,630		5,630

Net interest income		8,776		7,859			7,735			7,637		7,506

Noninterest income
Service charges		1,901		1,927			2,080			1,920		1,777
Investment and brokerage services		1,103		1,062			1,060			1,049		1,013
Mortgage banking income		137		215			180			189		221
Investment banking income		501		537			522			431		366
Equity investment gains		660		481			668			492		399
Card income		3,436		1,507			1,520			1,437		1,289
Trading account profits		1,074		299			557			222		685
Other income		89		(77	)		(171	)		1,215		282

Total noninterest income		8,901		5,951			6,416			6,955		6,032

Total revenue		17,677		13,810			14,151			14,592		13,538
Provision for credit losses		1,270		1,400			1,159			875		580
Gains on sales of debt securities		14		71			29			325		659
Noninterest expense
Personnel		4,813		3,845			3,837			3,671		3,701
Occupancy		701		699			638			615		636
Equipment		344		305			300			297		297
Marketing		575		265			307			346		337
Professional fees		218		283			254			216		177
Amortization of intangibles		440		196			201			204		208
Data processing		410		394			361			368		364
Telecommunications		220		219			206			196		206
Other general operating		1,105		1,055			1,061			985		1,019
Merger and restructuring charges		98		59			120			121		112

Total noninterest expense		8,924		7,320			7,285			7,019		7,057

Income before income taxes		7,497		5,161			5,736			7,023		6,560
Income tax expense		2,511		1,587			1,895			2,366		2,167

Net income	$	4,986	$	3,574		$	3,841		$	4,657	$	4,393

Net income available to common shareholders	$	4,981	$	3,570		$	3,836		$	4,653	$	4,388

Per common share information
Earnings	$	1.08	$	0.89		$	0.96		$	1.16	$	1.09

Diluted earnings	$	1.07	$	0.88		$	0.95		$	1.14	$	1.07

Dividends paid	$	0.50	$	0.50		$	0.50		$	0.45	$	0.45

Average common shares issued and outstanding		4,609,481		3,996,024			4,000,573			4,005,356		4,032,550

Average diluted common shares issued and outstanding		4,666,405		4,053,859			4,054,659			4,065,355		4,099,062

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Consolidated Balance Sheet


*(Dollars in millions)*	March 31 2006			December 31 2005			March 31 2005
Assets
Cash and cash equivalents	$	32,575		$	36,999		$	28,698
Time deposits placed and other short-term investments		11,157			12,800			11,223
Federal funds sold and securities purchased under agreements to resell		137,081			149,785			139,396
Trading account assets		117,181			131,707			124,960
Derivative assets		23,291			23,712			26,182
Securities:
Available-for-sale		237,987			221,556			218,675
Held-to-maturity, at cost		86			47			275

Total securities		238,073			221,603			218,950

Loans and leases		619,525			573,791			529,457
Allowance for loan and lease losses		(9,067	)		(8,045	)		(8,313	)

Loans and leases, net of allowance		610,458			565,746			521,144

Premises and equipment, net		9,267			7,786			7,531
Mortgage servicing rights ($2,925 measured at fair value at March 31, 2006)		3,070			2,806			2,667
Goodwill		66,271			45,354			45,378
Core deposit intangibles and other intangibles		10,681			3,194			3,679
Other assets		115,975			90,311			82,421

Total assets	$	1,375,080		$	1,291,803		$	1,212,229

Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	179,358		$	179,571		$	166,499
Interest-bearing		415,769			384,155			403,534
Deposits in foreign offices:
Noninterest-bearing		6,874			7,165			5,319
Interest-bearing		80,448			63,779			54,635

Total deposits		682,449			634,670			629,987

Federal funds purchased and securities sold under agreements to repurchase		236,919			240,655			187,652
Trading account liabilities		51,100			50,890			53,434
Derivative liabilities		15,541			15,000			15,363
Commercial paper and other short-term borrowings		99,389			116,269			93,440
Accrued expenses and other liabilities (includes $396, $395 and $394 of reserve for unfunded lending commitments)		37,078			31,938			35,319
Long-term debt		123,178			100,848			98,107

Total liabilities		1,245,654			1,190,270			1,113,302

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 - 4,581,317,964; 3,999,688,491 and 4,035,318,509 shares		68,705			41,693			43,589
Retained earnings		70,204			67,552			61,309
Accumulated other comprehensive income (loss)		(8,981	)		(7,556	)		(5,617	)
Other		(773	)		(427	)		(625	)

Total shareholders’ equity		129,426			101,533			98,927

Total liabilities and shareholders’ equity	$	1,375,080		$	1,291,803		$	1,212,229

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Capital Management

(Dollars in millions)


	First Quarter 2006⁽¹⁾			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Tier 1 capital	$	83,201		$	74,375		$	73,572		$	69,633		$	67,593
Total capital		111,481			99,901			99,531			95,760			94,240
Risk-weighted assets		984,190			901,469			889,643			853,086			817,862
Tier 1 capital ratio		8.45	%		8.25	%		8.27	%		8.16	%		8.26	%
Total capital ratio		11.33			11.08			11.19			11.23			11.52
Tangible equity ratio⁽²⁾		4.04			4.26			4.41			4.38			4.29
Tier 1 leverage ratio		6.18			5.91			5.90			5.66			5.86

⁽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

88.5 million common shares were repurchased in the first quarter of 2006 as a part of an ongoing share repurchase program.

65.7 million shares remain outstanding under the 2005 authorized program.

670.1 million shares were issued in the first quarter of 2006, of which 631.1 million were issued in the MBNA acquisition.

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* Preliminary data on risk-based capital

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Core Net Interest Income - Managed Basis

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net Interest Income
As reported (fully taxable-equivalent basis)	$	9,040		$	8,102		$	7,933		$	7,828		$	7,706
Impact of market based net interest income		(410	)		(419	)		(449	)		(519	)		(546	)

Core net interest income		8,630			7,683			7,484			7,309			7,160
Impact of securitizations		1,897			11			52			106			155

Core net interest income - managed basis	$	10,527		$	7,694		$	7,536		$	7,415		$	7,315

Average Earning Assets
As reported	$	1,219,611		$	1,145,550		$	1,137,629		$	1,118,518		$	1,044,891
Impact of market based earning assets		(336,496	)		(329,237	)		(334,992	)		(338,490	)		(285,414	)

Core average earning assets		883,115			816,313			802,637			780,028			759,477
Impact of securitizations		96,268			6,447			7,827			10,773			11,151

Core average earning assets - managed basis	$	979,383		$	822,760		$	810,464		$	790,801		$	770,628

Net Interest Yield Contribution
As reported (fully taxable-equivalent basis)		2.98	%		2.82	%		2.78	%		2.80	%		2.96	%
Impact of market based activities		0.95			0.93			0.94			0.95			0.82

Core net interest yield on earning assets		3.93			3.75			3.72			3.75			3.78
Impact of securitizations		0.39			(0.02	)		(0.01	)		—			0.03

Core net interest yield on earning assets - managed basis		4.32	%		3.73	%		3.71	%		3.75	%		3.81	%

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

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

(Dollars in millions)


	First Quarter 2006						Fourth Quarter 2005						First Quarter 2005
	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	$	14,347	$	139	3.92	%	$	14,619	$	132	3.59	%	$	14,327	$	101	2.87	%
Federal funds sold and securities purchased under agreements to resell		174,711		1,709	3.94			165,908		1,477	3.55			147,855		904	2.46
Trading account assets		133,361		1,623	4.89			139,441		1,648	4.72			117,748		1,203	4.10
Securities		234,606		3,043	5.19			221,411		2,842	5.13			204,574		2,559	5.01
Loans and leases⁽¹⁾:
Residential mortgage		184,796		2,524	5.48			178,764		2,424	5.42			178,075		2,415	5.44
Credit card - domestic		68,169		2,180	12.94			56,858		1,747	12.19			51,310		1,373	10.85
Credit card - foreign		8,403		287	13.86			—		—	—			—		—	—
Home equity lines		64,198		1,112	7.02			60,571		1,012	6.63			51,477		692	5.45
Direct/Indirect consumer		55,025		986	7.24			47,181		703	5.91			41,620		573	5.58
Other consumer⁽²⁾		10,357		272	10.59			6,653		184	11.01			7,305		158	8.75

Total consumer		390,948		7,361	7.60			350,027		6,070	6.90			329,787		5,211	6.38

Commercial - domestic		144,693		2,490	6.97			137,224		2,280	6.59			123,803		1,954	6.40
Commercial real estate		36,676		632	6.99			36,017		597	6.58			33,016		430	5.29
Commercial lease financing		20,512		247	4.82			20,178		241	4.79			20,745		260	5.01
Commercial - foreign		23,139		427	7.48			20,143		378	7.45			17,570		259	5.97

Total commercial		225,020		3,796	6.83			213,562		3,496	6.50			195,134		2,903	6.03

Total loans and leases		615,968		11,157	7.32			563,589		9,566	6.75			524,921		8,114	6.25

Other earning assets		46,618		718	6.22			40,582		596	5.83			35,466		455	5.19

Total earning assets⁽³⁾		1,219,611		18,389	6.08			1,145,550		16,261	5.65			1,044,891		13,336	5.14

Cash and cash equivalents		34,857						33,693						31,382
Other assets, less allowance for loan and lease losses		161,905						125,814						124,586

Total assets	$	1,416,373					$	1,305,057					$	1,200,859

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,550	$	76	0.87	%	$	35,535	$	68	0.76	%	$	37,000	$	35	0.39	%
NOW and money market deposit accounts		227,606		908	1.62			224,122		721	1.28			233,392		651	1.13
Consumer CDs and IRAs		135,068		1,177	3.53			120,321		1,029	3.39			118,989		965	3.29
Negotiable CDs, public funds and other time deposits		8,551		70	3.30			5,085		27	2.13			10,291		95	3.73

Total domestic interest-bearing deposits		406,775		2,231	2.22			385,063		1,845	1.90			399,672		1,746	1.77

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		30,116		424	5.71			24,451		355	5.77			22,085		260	4.77
Governments and official institutions		10,200		107	4.25			7,579		73	3.84			6,831		43	2.58
Time, savings and other		35,136		245	2.83			32,624		203	2.46			30,770		133	1.75

Total foreign interest-bearing deposits		75,452		776	4.17			64,654		631	3.87			59,686		436	2.96

Total interest-bearing deposits		482,227		3,007	2.53			449,717		2,476	2.18			459,358		2,182	1.93

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		399,896		4,309	4.37			364,140		3,855	4.20			276,483		1,988	2.91
Trading account liabilities		52,466		517	3.99			56,880		619	4.32			44,507		427	3.89
Long-term debt		117,018		1,516	5.18			99,601		1,209	4.85			96,167		1,033	4.30

Total interest-bearing liabilities⁽³⁾		1,051,607		9,349	3.60			970,338		8,159	3.34			876,515		5,630	2.60

Noninterest-bearing sources:
Noninterest-bearing deposits		177,594						179,205						168,062
Other liabilities		56,019						55,566						56,881
Shareholders’ equity		131,153						99,948						99,401

Total liabilities and shareholders’ equity	$	1,416,373					$	1,305,057					$	1,200,859

Net interest spread					2.48						2.31						2.54
Impact of noninterest-bearing sources					0.50						0.51						0.42

Net interest income/yield on earning assets			$	9,040	2.98	%			$	8,102	2.82	%			$	7,706	2.96	%

⁽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 $3,012 million in the first quarter of 2006, and $2,916 million and $3,362 million in the fourth and first quarters of 2005; foreign consumer of $7,328 million in the first quarter of 2006, and $3,682 million and $3,532 million in the fourth and first quarters of 2005; and consumer lease financing of $17 million in the first quarter of 2006, and $55 million and $411 million in the fourth and first quarters of 2005.

⁽³⁾

Interest income includes the impact of interest rate risk management contracts, which increased interest income on the underlying assets $8 million in the first quarter of 2006, and $29 million and $421 million in the fourth and first quarters of 2005. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $136 million in the first quarter of 2006, and $254 million and $504 million in the fourth and first quarters of 2005.

⁽⁴⁾

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

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

Income/Expense⁽¹⁾

(Dollars in millions)


	First Quarter 2006							Fourth Quarter 2005							First Quarter 2005
	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⁾	$	14,347	$	142		4.01	%	$	14,619	$	134		3.63	%	$	14,327	$	102		2.88	%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		174,711		1,800		4.15			165,908		1,538		3.70			147,855		851		2.32
Trading account assets		133,361		1,623		4.89			139,441		1,648		4.72			117,748		1,203		4.10
Securities⁽²⁾		234,606		3,043		5.19			221,411		2,843		5.13			204,574		2,562		5.01
Loans and leases⁽³⁾:
Residential mortgage⁽²⁾		184,796		2,524		5.48			178,764		2,425		5.42			178,075		2,410		5.43
Credit card - domestic		68,169		2,180		12.94			56,858		1,747		12.19			51,310		1,373		10.85
Credit card - foreign		8,403		287		13.86			—		—		—			—		—		—
Home equity lines		64,198		1,112		7.02			60,571		1,012		6.63			51,477		692		5.45
Direct/Indirect consumer		55,025		986		7.24			47,181		703		5.91			41,620		573		5.58
Other consumer⁽⁴⁾		10,357		272		10.59			6,653		184		11.01			7,305		158		8.75

Total consumer		390,948		7,361		7.60			350,027		6,071		6.90			329,787		5,206		6.37

Commercial - domestic⁽²⁾		144,693		2,379		6.66			137,224		2,168		6.26			123,803		1,538		5.04
Commercial real estate		36,676		632		6.99			36,017		597		6.58			33,016		430		5.29
Commercial lease financing		20,512		247		4.82			20,178		241		4.79			20,745		260		5.01
Commercial - foreign⁽²⁾		23,139		426		7.46			20,143		377		7.44			17,570		257		5.94

Total commercial		225,020		3,684		6.63			213,562		3,383		6.29			195,134		2,485		5.16

Total loans and leases		615,968		11,045		7.24			563,589		9,454		6.67			524,921		7,691		5.92

Other earning assets⁽²⁾		46,618		728		6.31			40,582		615		6.01			35,466		506		5.77

Total earning assets - excluding hedge impact		1,219,611		18,381		6.07			1,145,550		16,232		5.64			1,044,891		12,915		4.98

Net derivative income (expense) on assets				8							29							421

Total earning assets - including hedge impact		1,219,611		18,389		6.08			1,145,550		16,261		5.65			1,044,891		13,336		5.14

Cash and cash equivalents		34,857							33,693							31,382
Other assets, less allowance for loan and lease losses		161,905							125,814							124,586

Total assets	$	1,416,373						$	1,305,057						$	1,200,859

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,550	$	76		0.87	%	$	35,535	$	68		0.76	%	$	37,000	$	35		0.39	%
NOW and money market deposit accounts⁽²⁾		227,606		906		1.61			224,122		721		1.28			233,392		635		1.10
Consumer CDs and IRAs⁽²⁾		135,068		1,022		3.07			120,321		828		2.73			118,989		649		2.21
Negotiable CDs, public funds and other time deposits⁽²⁾		8,551		68		3.21			5,085		26		2.02			10,291		66		2.61

Total domestic interest-bearing deposits		406,775		2,072		2.07			385,063		1,643		1.69			399,672		1,385		1.41

Foreign interest-bearing deposits⁽⁵⁾:
Banks located in foreign countries⁽²⁾		30,116		403		5.43			24,451		326		5.30			22,085		199		3.66
Governments and official institutions		10,200		107		4.25			7,579		73		3.84			6,831		43		2.58
Time, savings and other		35,136		245		2.83			32,624		203		2.46			30,770		133		1.75

Total foreign interest-bearing deposits		75,452		755		4.06			64,654		602		3.70			59,686		375		2.55

Total interest-bearing deposits		482,227		2,827		2.38			449,717		2,245		1.98			459,358		1,760		1.55

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings ⁽²⁾		399,896		4,375		4.43			364,140		3,789		4.13			276,483		1,837		2.69
Trading account liabilities		52,466		517		3.99			56,880		619		4.32			44,507		427		3.89
Long-term debt⁽²⁾		117,018		1,494		5.11			99,601		1,252		5.03			96,167		1,102		4.58

Total interest-bearing liabilities - excluding hedge impact		1,051,607		9,213		3.54			970,338		7,905		3.24			876,515		5,126		2.37

Net derivative (income) expense on liabilities				136							254							504

Total interest-bearing liabilities - including hedge impact		1,051,607		9,349		3.60			970,338		8,159		3.34			876,515		5,630		2.60

Noninterest-bearing sources:
Noninterest-bearing deposits		177,594							179,205							168,062
Other liabilities		56,019							55,566							56,881
Shareholders’ equity		131,153							99,948							99,401

Total liabilities and shareholders’ equity	$	1,416,373						$	1,305,057						$	1,200,859

Net interest spread						2.53							2.40							2.61
Impact of noninterest-bearing sources						0.49							0.50							0.38

Net interest income/yield on earning assets - excluding hedge impact			$	9,168		3.02				$	8,327		2.90				$	7,789		2.99

Net impact of derivative hedge income/(expense)				(128	)	(0.04	)				(225	)	(0.08	)				(83	)	(0.03	)

Net interest income/yield on earning assets			$	9,040		2.98	%			$	8,102		2.82	%			$	7,706		2.96	%

⁽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 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. The impact of interest rate management derivatives is not material to the average balances presented above.

⁽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 $(3) million, federal funds sold and securities purchased under agreements to resell $(91) million, commercial - domestic $111 million, commercial - foreign $1 million, and other earning assets $(10) million in the first quarter of 2006. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $2 million, consumer CDs and IRAs $155 million, negotiable CDs, public funds and other time deposits $2 million, banks located in foreign countries $21 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $(66) million and long-term debt $22 million in the first quarter of 2006. 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 $(2) million, federal funds sold and securities purchased under agreements to resell $(61) million, securities $(1) million, residential mortgage $(1) million, commercial - domestic $112 million, commercial - foreign $1 million, and other earning assets $(19) million in the fourth quarter of 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on consumer CDs and IRAs $201 million, negotiable CDs, public funds and other time deposits $1 million, banks located in foreign countries $29 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $66 million and long-term debt $(43) million in the three months ended December 31, 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 $(1) million, federal funds sold and securities purchased under agreements to resell $53 million, securities $(3) million, residential mortgage $5 million, commercial - domestic $416 million, commercial - foreign $2 million, and other earning assets $(51) million in the first quarter of 2005. Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $16 million, consumer CDs and IRAs $316 million, negotiable CDs, public funds and other time deposits $29 million, banks located in foreign countries $61 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $151 million and long-term debt $(69) million in the first quarter of 2005.

⁽³⁾

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

⁽⁴⁾

Includes consumer finance of $3,012 million in the first quarter of 2006, and $2,916 million and $3,362 million in the fourth and first quarters of 2005; foreign consumer of $7,328 million in the first quarter of 2006, and $3,682 million and $3,532 million in the fourth and first quarters of 2005; and consumer lease financing of $17 million in the first quarter of 2006, and $55 million and $411 million in the fourth and first quarters of 2005.

⁽⁵⁾

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Business Segment View

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* Fully taxable-equivalent basis

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Consumer and Small Business Banking Segment Results⁽¹⁾

(Dollars in millions; except as noted)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005


Net interest income⁽²⁾	$	5,400		$	4,325		$	4,224		$	4,089		$	4,215
Noninterest income
Service charges		1,190			1,262			1,386			1,244			1,104
Mortgage banking income		205			271			230			237			274
Card income		3,268			1,325			1,344			1,272			1,144
All other income		138			97			70			57			116

Total noninterest income		4,801			2,955			3,030			2,810			2,638

Total revenue⁽²⁾		10,201			7,280			7,254			6,899			6,853

Provision for credit losses		1,257			1,299			1,107			1,155			710
Gains (losses) on sales of debt securities		(1	)		(1	)		(1	)		—			(1	)
Noninterest expense		4,693			3,325			3,271			3,346			3,238

Income before income taxes		4,250			2,655			2,875			2,398			2,904
Income tax expense		1,575			945			1,051			866			1,026

Net income	$	2,675		$	1,710		$	1,824		$	1,532		$	1,878

Shareholder value added	$	1,310		$	970		$	1,159		$	874		$	1,240
Net interest yield⁽²⁾		7.60	%		5.76	%		5.59	%		5.53	%		5.68
Return on average equity		16.89			21.56			24.99			21.14			26.46
Efficiency ratio⁽²⁾		46.01			45.68			45.10			48.49			47.25

Balance Sheet
Average
Total loans and leases	$	187,048		$	149,239		$	145,714		$	141,352		$	139,644
Total earning assets		288,311			297,747			299,673			296,573			301,193
Total assets		349,802			325,538			326,940			323,087			329,620
Total deposits		330,204			306,579			310,485			306,471			300,562
Common equity/Allocated equity		64,228			31,463			28,964			29,077			28,789

Period End
Total loans and leases	$	184,236		$	151,646		$	147,702		$	143,074		$	138,873
Total assets		359,131			331,244			327,004			324,786			331,769
Total deposits		340,437			306,064			313,022			307,340			306,089

Period End (in billions)
Mortgage servicing portfolio	$	302.4		$	296.8		$	288.5		$	280.1		$	275.5

⁽¹⁾

Global Consumer and Small Business Banking's most significant product groups are Deposits, Mortgage, Card Services, Home Equity Line of Credit (HELOC), and Other.

⁽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 beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Consumer and Small Business Banking Sub-Segment Results

(Dollars in millions)


	First Quarter 2006
	Total			Deposits ⁽¹⁾			Mortgage			Card Services ⁽²⁾			HELOC			ALM			Other
Net interest income⁽³⁾	$	5,400		$	2,351		$	146		$	2,210		$	334		$	315		$	44
Noninterest income
Service charges		1,190			1,190			—			—			—			—			—
Mortgage banking income		205			—			188			—			17			—			—
Card income		3,268			444			—			2,824			—			—			—
All other income		138			—			13			244			—			—			(119	)

Total noninterest income		4,801			1,634			201			3,068			17			—			(119	)

Total revenue⁽³⁾		10,201			3,985			347			5,278			351			315			(75	)

Provision for credit losses		1,257			28			4			1,166			12			—			47
Gains (losses) on sales of debt securities		(1	)		—			—			—			—			—			(1	)
Noninterest expense		4,693			2,206			229			2,016			154			—			88

Income before income taxes		4,250			1,751			114			2,096			185			315			(211	)
Income tax expense		1,575			649			42			777			69			117			(79	)

Net income	$	2,675		$	1,102		$	72		$	1,319		$	116		$	198		$	(132	)


Shareholder value added	$	1,310		$	784		$	21		$	578		$	85		$	198		$	(356	)
Net interest yield⁽³⁾		7.60	%		2.76	%		1.72	%		9.15	%		2.56	%		—	%		n/m
Return on average equity		16.89			29.93			15.25			14.07			40.08			—			n/m
Efficiency ratio⁽³⁾		46.01			55.37			65.86			38.19			43.79			—			n/m

⁽¹⁾

Deposit balances reflect Premier migration average impact of $45.4 billion for the three months ended March 31, 2006.

⁽²⁾

Card Services presented on a held view

⁽³⁾

Fully taxable-equivalent basis

n/m

= not meaningful

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Consumer and Small Business Banking Sub-Segment Results

(Dollars in millions)


	First Quarter 2005
	Total			Deposits⁽¹⁾			Mortgage			Card Services⁽²⁾			HELOC			ALM			Other
Net interest income⁽³⁾	$	4,215		$	1,970		$	192		$	1,148		$	304		$	547		$	54
Noninterest income
Service charges		1,104			1,104			—			—			—			—			—
Mortgage banking income		274			—			256			—			19			—			(1	)
Card income		1,144			352			—			792			—			—			—
All other income		116			—			4			55			—			—			57

Total noninterest income		2,638			1,456			260			847			19			—			56

Total revenue⁽³⁾		6,853			3,426			452			1,995			323			547			110

Provision for credit losses		710			(7	)		6			698			8			—			5
Gains (losses) on sales of debt securities		(1	)		—			—			—			—			—			(1	)
Noninterest expense		3,238			1,931			276			758			182			—			91

Income before income taxes		2,904			1,502			170			539			133			547			13
Income tax expense		1,026			530			60			190			47			194			5

Net income	$	1,878		$	972		$	110		$	349		$	86		$	353		$	8

Shareholder value added	$	1,240		$	648		$	66		$	260		$	57		$	353		$	(144	)
Net interest yield⁽³⁾		5.68	%		2.53	%		2.11	%		8.75	%		2.76	%		—	%		n/m
Return on average equity		26.46			26.13			26.87			26.62			33.06			—			n/m
Efficiency ratio⁽³⁾		47.25			56.37			61.17			37.97			56.35			—			n/m

⁽¹⁾

Deposit balances reflect Premier migration average impact of $32.4 billion for the three months ended March 31, 2006.

⁽²⁾

Card Services presented on a held view

⁽³⁾

Fully taxable-equivalent basis

n/m=

not meaningful

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Consumer and Small Business Banking - Key Indicators

(Dollars in millions; except as noted)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Deposits Key Indicators
Average Deposit Balances
Checking	$	126,333		$	125,491		$	124,398		$	123,022		$	119,750
Savings		32,104			31,897			32,016			32,465			31,496
MMS		76,920			71,936			68,841			67,659			69,742
CD’s & IRA’s		84,836			69,375			76,779			75,720			73,147
Foreign and Other		10,011			7,880			8,451			7,605			6,427

Total	$	330,204		$	306,579		$	310,485		$	306,471		$	300,562

Average Cumulative Balances migrated to
Premier Banking and Investments	$	45,367		$	44,692		$	41,672		$	38,257		$	32,407
Deposit Spreads (excludes noninterest costs)
Checking		4.18	%		4.16	%		4.18	%		4.14	%		4.24	%
Savings		3.36			3.53			3.78			4.02			4.38
MMS		2.53			2.69			2.02			1.64			1.43
CD’s & IRA’s		1.21			1.19			0.90			0.80			0.66
Foreign and Other		3.68			4.19			3.88			3.67			3.52
Total		2.93			3.06			2.82			2.72			2.70
Net New Checking (units in thousands)		603			426			635			629			611
Debit Purchase Volumes		38,618			39,623			36,008			35,049			31,230
Online Banking (End of Period)
Active Accounts (units in thousands)		19,643			14,698			14,338			13,514			13,047
Active Billpay Accounts (units in thousands)		10,088			7,281			6,987			6,529			6,256

Credit Key Indicators
Managed Card - North American Only
Gross Interest Yield		12.65	%		12.25	%		11.99	%		11.58	%		11.27	%
Risk Adjusted Margin ⁽¹⁾		10.26			4.25			8.36			7.72			7.63
Loss Rates		3.12			9.49			5.74			6.23			6.17
Average Outstandings (in millions)	$	143,463		$	59,722		$	59,762		$	58,537		$	58,145
New Account Growth (in thousands)		2,076			930			1,466			1,564			1,353
Purchase Volumes (in millions)		49,568			24,116			22,736			21,577			19,134
Delinquencies
30 Day		4.45	%		4.17	%		4.59	%		4.25	%		4.20	%
60 Day		2.99			2.93			3.21			2.88			2.98
12 month Lag Loss Rate		3.24			10.04			6.30			6.94			6.67
Mortgage
Mortgage Originations (in millions)	$	17,262		$	20,662		$	27,511		$	21,135		$	17,471
Mortgage Servicing Rights Period End Balance (in millions)		2,925			2,658			2,623			2,233			2,547
Capitalized Mortgage Servicing Rights (% of loans serviced)		132	bps		122	bps		124	bps		108	bps		128	bps
Mortgage Loans Serviced for Investors (in billions)	$	221		$	218		$	212		$	207		$	199
Home Equity Originations (in millions)		18,589			19,670			17,897			19,379			15,033

⁽¹⁾

Reflects margin and noninterest revenue, adjusted for loss rates

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

E-Commerce & BankofAmerica.com

Bank of America has the largest active online banking customer base with 19.6 million subscribers.

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

10.1 million active bill pay users paid $44.4 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 342 companies are presenting 18.8 million e-bills per quarter.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Card Services Results - Purchase View

(Dollars in millions)


	First Quarter 2006⁽¹⁾			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Key Measures

Loans
On-balance sheet (Period end)	$	90,942		$	58,548		$	56,079		$	53,863		$	51,012
Managed (Period end)		185,301			60,786			59,701			59,283			57,920

On-balance sheet (Average)		94,364			56,858			55,271			52,474			51,310
Managed (Average)		187,140			59,722			59,762			58,537			58,145

Managed Income Statement
Held total revenue ⁽²⁾	$	5,278		$	2,213		$	2,219		$	2,063		$	1,995
Securitizations impact		654			63			92			135			145

Managed total revenue	$	5,932		$	2,276		$	2,311		$	2,198		$	2,140

% of average managed outstandings		12.9	%		14.5	%		14.8	%		14.6	%		14.5	%

Held provision for credit losses ⁽²⁾	$	1,166		$	1,191		$	1,010		$	1,099		$	698
Securitizations impact		654			63			92			135			145

Managed provision for credit losses	$	1,820		$	1,254		$	1,102		$	1,234		$	843

% of average managed outstandings		3.9	%		8.0	%		7.1	%		8.2	%		5.7	%

Held noninterest expense ⁽²⁾	$	2,016		$	730		$	739		$	768		$	758
Securitizations impact		—			—			—			—			—

Managed noninterest expense	$	2,016		$	730		$	739		$	768		$	758

% of average managed outstandings		4.4	%		4.6	%		4.7	%		5.1	%		5.1	%

Held income before income taxes ⁽²⁾	$	2,096		$	292		$	470		$	196		$	539
Securitizations impact		—			—			—			—			—

Managed income before income taxes	$	2,096		$	292		$	470		$	196		$	539

% of average managed outstandings		4.5	%		1.9	%		3.0	%		1.3	%		3.7	%

Shareholder Value Added—Managed	$	562		$	63		$	187		$	19		$	259

Merchant Acquiring Business:
Processing volume	$	88,335		$	101,601		$	91,321		$	84,262		$	75,754
Total transactions		1,897			2,334			1,906			1,832			1,620

⁽¹⁾

For the first quarter of 2006, Card Services includes U.S. Consumer and Small Business Credit Card, Consumer Finance, International Card Operations and Merchant Services. Prior to January 1, 2006, Card Services included only U.S. Consumer Credit Card.

⁽²⁾

Held basis is a GAAP measure.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Card Services Results - Purchase View continued

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Key Measures

Credit Quality
Credit Card
Charge-Offs $:
Held net charge-offs⁽¹⁾	$	653		$	1,366		$	772		$	774		$	740
Securitizations impact		593			63			92			135			144

Managed credit card net losses	$	1,246		$	1,429		$	864		$	909		$	884

Charge-Offs %:
Held net charge-offs⁽¹⁾		3.46	%		9.53	%		5.54	%		5.92	%		5.85	%
Securitizations impact		(0.34	)		(0.04	)		0.20			0.31			0.32

Managed credit card net losses		3.12	%		9.49	%		5.74	%		6.23	%		6.17	%

30+ Delinquency $:
Held delinquency⁽¹⁾	$	3,306		$	2,496		$	2,497		$	2,204		$	2,101
Securitizations impact		3,924			42			246			313			332

Managed delinquency	$	7,230		$	2,538		$	2,743		$	2,517		$	2,433

30+ Delinquency %:
Held delinquency⁽¹⁾		4.57	%		4.26	%		4.45	%		4.09	%		4.12	%
Securitizations impact		(0.03	)		(0.08	)		0.14			0.16			0.08

Managed delinquency		4.54	%		4.18	%		4.59	%		4.25	%		4.20	%


90+ Delinquency $:
Held delinquency⁽¹⁾	$	1,540		$	1,198		$	1,175		$	1,011		$	1,043
Securitizations impact		1,767			20			121			149			171

Managed delinquency	$	3,307		$	1,218		$	1,296		$	1,160		$	1,214

90+ Delinquency %:
Held delinquency⁽¹⁾		2.13	%		2.05	%		2.09	%		1.88	%		2.04	%
Securitizations impact		(0.06	)		(0.05	)		0.08			0.08			0.06

Managed delinquency		2.07	%		2.00	%		2.17	%		1.96	%		2.10	%

⁽¹⁾

Held basis is a GAAP measure.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Card Services Results—Proforma View⁽¹⁾

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Key Measures

Loans
On-balance sheet (Period end)	$	90,942		$	97,208		$	92,257		$	86,546		$	82,908
Managed (Period end)		185,301			189,414			182,879			176,886			174,845

On-balance sheet (Average)		94,364			92,886			89,757			82,794			82,903
Managed (Average)		187,140			184,670			179,275			174,687			176,305

Managed Income Statement
Held total revenue ⁽²⁾	$	5,278		$	4,753		$	4,983		$	4,663		$	4,444
Securitizations impact		654			1,493			1,093			1,204			1,149

Managed total revenue	$	5,932		$	6,246		$	6,076		$	5,867		$	5,593

% of average managed outstandings		12.9	%		13.4	%		13.4	%		13.5	%		12.9	%

Held provision for credit losses ⁽²⁾	$	1,166		$	1,485		$	1,290		$	1,288		$	1,000
Securitizations impact		654			1,493			1,093			1,204			1,149

Managed provision for credit losses	$	1,820		$	2,978		$	2,383		$	2,492		$	2,149

% of average managed outstandings		3.9	%		6.4	%		5.3	%		5.7	%		4.9	%

Held noninterest expense ⁽²⁾	$	2,016		$	2,404		$	2,170		$	2,243		$	2,184
Securitizations impact		—			—			—			—			—

Managed noninterest expense	$	2,016		$	2,404		$	2,170		$	2,243		$	2,184

% of average managed outstandings		4.4	%		5.2	%		4.8	%		5.2	%		5.0	%

Held income before income taxes ⁽²⁾	$	2,096		$	864		$	1,523		$	1,132		$	1,260
Securitizations impact		—			—			—			—			—

Managed income before income taxes	$	2,096		$	864		$	1,523		$	1,132		$	1,260

% of average managed outstandings		4.5	%		1.9	%		3.4	%		2.6	%		2.9	%

Shareholder Value Added – Managed	$	562		$	(157	)	$	266		$	42		$	148


Merchant Acquiring Business:
Processing volume	$	88,335		$	101,601		$	91,321		$	84,262		$	75,754
Total transactions		1,897			2,334			1,906			1,832			1,620

(1)

Card Services includes U.S. Consumer and Small Business Credit Card, Consumer Finance, International Card Operations and Merchant Services.

(2)

Held basis is a GAAP measure.

Bank of America Corporation

Card Services Results - Proforma View continued

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Key Measures
Credit Quality:
Credit Card Product
Charge-Offs $:
Held net charge-offs⁽¹⁾	$	653		$	1,569		$	928		$	911		$	915
Securitizations impact		593			1,312			979			1,083			1,035

Managed credit card net losses	$	1,246		$	2,881		$	1,907		$	1,994		$	1,950

Charge-Offs %:
Held net charge-offs⁽¹⁾		3.46	%		7.94	%		4.87	%		5.29	%		5.34	%
Securitizations impact		(0.34	)		(0.93	)		(0.09	)		(0.10	)		(0.28	)

Managed credit card net losses		3.12	%		7.01	%		4.78	%		5.19	%		5.06	%

30+ Delinquency $:
Held delinquency⁽¹⁾	$	3,306		$	3,204		$	3,225		$	2,830		$	2,772
Securitizations impact		3,924			3,543			4,135			4,094			4,260

Managed delinquency	$	7,230		$	6,747		$	7,360		$	6,924		$	7,032

30+ Delinquency %:
Held delinquency⁽¹⁾		4.57	%		3.93	%		4.15	%		3.94	%		4.03	%
Securitizations impact		(0.03	)		0.12			0.42			0.52			0.54

Managed delinquency		4.54	%		4.05	%		4.57	%		4.46	%		4.57	%

90+ Delinquency $:
Held delinquency⁽¹⁾	$	1,540		$	1,508		$	1,496		$	1,289		$	1,350
Securitizations impact		1,767			1,643			1,921			1,922			2,056

Managed delinquency	$	3,307		$	3,151		$	3,417		$	3,211		$	3,406

90+ Delinquency %:
Held delinquency⁽¹⁾		2.13	%		1.85	%		1.93	%		1.79	%		1.97	%
Securitizations impact		(0.06	)		0.04			0.19			0.28			0.24

Managed delinquency		2.07	%		1.89	%		2.12	%		2.07	%		2.21	%

⁽¹⁾

Held basis is a GAAP measure.

Bank of America Corporation

Card Services Results—Reconciliation—Purchase to Pro Forma

(Dollars in millions)


	Fourth Quarter 2005									Third Quarter 2005
	Bank of America			Adjustments to include MBNA⁽¹⁾			Combined			Bank of America			Adjustments to include MBNA⁽¹⁾			Combined
Loans:
On-balance sheet (Period end)	$	58,548		$	38,660		$	97,208		$	56,079		$	36,178		$	92,257
Managed (Period end)		60,786			128,628			189,414			59,701			123,178			182,879

On-balance sheet (Average)		56,858			36,028			92,886			55,271			34,486			89,757
Managed (Average)		59,722			124,948			184,670			59,762			119,513			179,275

Income Statement Data:
Held total revenue	$	2,213		$	2,540		$	4,753		$	2,219		$	2,764		$	4,983
Securitizations impact		63			1,430			1,493			92			1,001			1,093

Managed total revenue	$	2,276		$	3,970		$	6,246		$	2,311		$	3,765		$	6,076

% of average managed outstandings		14.5	%		(1.1	)%		13.4	%		14.8	%		(1.4	)%		13.4

Held provision for credit losses	$	1,191		$	294		$	1,485		$	1,010		$	280		$	1,290
Securitizations impact		63			1,430			1,493			92			1,001			1,093

Managed provision for credit losses	$	1,254		$	1,724		$	2,978		$	1,102		$	1,281		$	2,383

% of average managed outstandings		8.0	%		(1.6	)%		6.4	%		7.1	%		(1.8	)%		5.3

Held noninterest Expense	$	730		$	1,674		$	2,404		$	739		$	1,431		$	2,170
Securitizations impact		—			—			—			—			—			—

Managed noninterest expense	$	730		$	1,674		$	2,404		$	739		$	1,431		$	2,170

% of average managed outstandings		4.6	%		0.6	%		5.2	%		4.7	%		0.1	%		4.8

Held income before income taxes	$	292		$	572		$	864		$	470		$	1,053		$	1,523
Securitizations impact		—			—			—			—			—			—

Managed income before income taxes	$	292		$	572		$	864		$	470		$	1,053		$	1,523

% of average managed outstandings		1.9	%		—	%		1.9	%		3.0	%		0.4	%		3.4

	Second Quarter 2005									First Quarter 2005
	Bank of America			Adjustments to include MBNA (1)			Combined			Bank of America			Adjustments to include MBNA (1)			Combined
Loans:
On-balance sheet (Period end)	$	53,863		$	32,683		$	86,546		$	51,012		$	31,896		$	82,908
Managed (Period end)		59,283			117,603			176,886			57,920			116,925			174,845

On-balance sheet (Average)		52,474			30,320			82,794			51,310			31,593			82,903
Managed (Average)		58,537			116,150			174,687			58,145			118,160			176,305

Income Statement Data:
Held total revenue	$	2,063		$	2,600		$	4,663		$	1,995		$	2,449		$	4,444
Securitizations impact		135			1,069			1,204			145			1,004			1,149

Managed total revenue	$	2,198		$	3,669		$	5,867		$	2,140		$	3,453		$	5,593

% of average managed outstandings		14.6	%		(1.1	)%		13.5	%		14.5	%		(1.6	)%		12.9	%

Held provision for credit losses	$	1,099		$	189		$	1,288		$	698		$	302		$	1,000
Securitizations impact		135			1,069			1,204			145			1,004			1,149

Managed provision for credit losses	$	1,234		$	1,258		$	2,492		$	843		$	1,306		$	2,149

% of average managed outstandings		8.2	%		(2.5	)%		5.7	%		5.7	%		(0.8	)%		4.9	%

Held noninterest Expense	$	768		$	1,475		$	2,243		$	758		$	1,426		$	2,184
Securitizations impact		—			—			—			—			—			—

Managed noninterest expense	$	768		$	1,475		$	2,243		$	758		$	1,426		$	2,184

% of average managed outstandings		5.1	%		0.1	%		5.2	%		5.1	%		(0.1	)%		5.0	%

Held income before income taxes	$	196		$	936		$	1,132		$	539		$	721		$	1,260
Securitizations impact		—			—			—			—			—			—

Managed income before income taxes	$	196		$	936		$	1,132		$	539		$	721		$	1,260

% of average managed outstandings		1.3	%		1.3	%		2.6	%		3.7	%		(0.8	)%		2.9	%

⁽¹⁾

Reflects historical MBNA amounts as well as 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 MBNA Merger were allocated to the respective business segments and All Other. See also Notes to Unaudited Pro Forma Condensed Combined Financial Information in Form 8-K filed on April 10, 2006.

Bank of America Corporation

Global Corporate and Investment Banking Segment Results⁽¹⁾

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net interest income⁽²⁾	$	2,714		$	2,771		$	2,747		$	2,783		$	2,856
Noninterest income
Service charges		687			641			671			655			650
Investment and brokerage services		272			271			267			262			246
Investment banking income		522			547			532			441			372
Trading account profits		1,008			307			571			232			661
All other income		357			421			499			535			662

Total noninterest income		2,846			2,187			2,540			2,125			2,591

Total revenue⁽²⁾		5,560			4,958			5,287			4,908			5,447

Provision for credit losses		39			97			12			(249	)		(151	)
Gains on sales of debt securities		23			95			17			121			30
Noninterest expense		3,026			2,956			2,849			2,603			2,705

Income before income taxes		2,518			2,000			2,443			2,675			2,923
Income tax expense		932			711			890			970			1,072

Net income	$	1,586		$	1,289		$	1,553		$	1,705		$	1,851

Shareholder value added	$	466		$	159		$	451		$	620		$	749
Net interest yield⁽²⁾		1.88	%		1.93	%		1.92	%		1.99	%		2.31	%
Return on average equity		15.02			12.06			14.93			16.62			17.76
Efficiency ratio⁽²⁾		54.42			59.61			53.88			53.02			49.66

Balance Sheet
Average
Total loans and leases	$	236,828		$	229,011		$	216,133		$	207,936		$	205,963
Total earning assets		586,927			571,111			566,686			562,143			501,641
Total assets		667,794			654,668			648,325			645,876			583,237
Total deposits		197,922			192,807			188,946			191,520			186,285
Common equity/Allocated equity		42,820			42,413			41,267			41,146			42,273

Period End
Total loans and leases	$	239,077		$	232,642		$	220,885		$	210,799		$	208,977
Total assets		630,956			633,374			602,070			605,093			593,525
Total deposits		198,602			198,390			184,554			189,727			181,978

⁽¹⁾

Effective January 1, 2006, we combined Global Business and Financial Services and Global Capital Markets and Investment Banking creating this new segment, Global Corporate and Investment Banking.

Global Corporate and Investment Banking offers clients a comprehensive range of global capabilities through four financial services: Business Lending, Capital Markets and Advisory Services, Treasury Services, and Other.

⁽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 beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking Sub-Segment Results

(Dollars in millions)


	First Quarter 2006
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM			Other⁽¹⁾
Net interest income⁽²⁾	$	2,714		$	1,149		$	410		$	969		$	51		$	135
Noninterest income
Service charges		687			125			33			485			—			44
Investment and brokerage services		272			4			226			7			—			35
Investment banking income		522			—			522			—			—			—
Trading account profits		1,008			15			923			11			—			59
All other income		357			45			102			156			—			54

Total noninterest income		2,846			189			1,806			659			—			192

Total revenue⁽²⁾		5,560			1,338			2,216			1,628			51			327

Provision for credit losses		39			16			3			6			—			14
Gains on sales of debt securities		23			9			5			—			—			9
Noninterest expense		3,026			513			1,394			806			—			313

Income before income taxes		2,518			818			824			816			51			9
Income tax expense		932			302			305			302			19			4

Net income	$	1,586		$	516		$	519		$	514		$	32		$	5

Shareholder value added	$	466		$	93		$	229		$	309		$	32		$	(197	)
Net interest yield⁽²⁾		1.88	%		2.07	%		0.49	%		2.94	%		—	%		2.73	%
Return on average equity		15.02			12.65			19.56			26.47			—			0.27
Efficiency ratio⁽²⁾		54.42			38.34			62.91			49.51			—			95.72

⁽¹⁾

Other includes Latin America, Asia Commercial and Retail, Insurance Services, and segment level management accounting adjustments. It also includes certain non-recurring items.

⁽²⁾

Fully taxable-equivalent basis

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking Sub-Segment Results

(Dollars in millions)


	First Quarter 2005
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM			Other⁽¹⁾
Net interest income⁽²⁾	$	2,856		$	1,202		$	546		$	765		$	241		$	102
Noninterest income
Service charges		650			112			22			476			—			40
Investment and brokerage services		246			4			209			7			—			26
Investment banking income		372			—			374			—			—			(2	)
Trading account profits		661			1			617			21			—			22
All other income		662			309			96			142			—			115

Total noninterest income		2,591			426			1,318			646			—			201

Total revenue⁽²⁾		5,447			1,628			1,864			1,411			241			303

Provision for credit losses		(151	)		(26	)		(2	)		(5	)		—			(118	)
Gains on sales of debt securities		30			21			8			—			—			1
Noninterest expense		2,705			498			1,171			783			—			253

Income before income taxes		2,923			1,177			703			633			241			169
Income tax expense		1,072			408			247			228			87			102

Net income	$	1,851		$	769		$	456		$	405		$	154		$	67

Shareholder value added	$	749		$	376		$	194		$	245		$	154		$	(220	)
Net interest yield⁽²⁾		2.31	%		2.51	%		0.78	%		2.20	%		—	%		2.27	%
Return on average equity		17.76			19.93			18.93			26.12			—			2.53
Efficiency ratio⁽²⁾		49.66			30.59			62.82			55.49			—			83.50

⁽¹⁾

Other includes Latin America, Asia Commercial and Retail, Insurance Services, and segment level management accounting adjustments. It also includes certain non-recurring items.

⁽²⁾

Fully taxable-equivalent basis

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking - Capital Markets and Advisory Services Key Indicators

(Dollars in millions)


	First Quarter 2006		Fourth Quarter 2005		Third Quarter 2005		Second Quarter 2005		First Quarter 2005
Investment banking income
Advisory fees	$	76	$	73	$	89	$	73	$	60
Debt underwriting		380		390		355		312		276
Equity underwriting		66		84		94		57		38

Total investment banking income	$	522	$	547	$	538	$	442	$	374

Sales and trading
Fixed income
Liquid products		608		467		470		498		507
Credit products		327		71		226		81		256
Structured products		288		239		268		231		265

Total fixed income		1,223		777		964		810		1,028

Equity income		476		262		361		300		470

Total sales and trading		1,699		1,039		1,325		1,110		1,498

Total capital markets and advisory services revenue⁽¹⁾	$	2,221	$	1,586	$	1,863	$	1,552	$	1,872
⁽¹⁾ Includes gains (losses) on sales of debt securities

Balance sheet (average)
Trading account securities	$	130,323	$	136,058	$	138,874	$	131,831	$	115,103
Reverse repurchases		75,141		75,229		78,918		77,080		59,561
Securities borrowed		88,682		79,993		85,377		97,597		77,454
Derivative assets		19,894		21,918		21,437		22,103		22,945

Trading-related assets	$	314,040	$	313,198	$	324,606	$	328,611	$	275,063

Sales credits from secondary trading
Liquid products		230		197		192		223		201
Credit products		184		160		152		177		168
Structured products		162		128		167		139		131
Equities		221		211		201		215		199

Total		797		696		712		754		699

Volatility of product revenues - 1 std dev
Liquid products	$	5.9	$	7.0	$	11.1	$	8.7	$	10.0
Credit products		3.3		4.1		3.7		13.2		4.3
Structured products		4.6		6.8		8.1		4.9		6.9
Equities		2.0		1.3		6.0		2.4		2.0
Total		8.8		12.2		16.0		17.6		15.8

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking - Business Lending Key Indicators

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Business lending revenue⁽¹⁾
Corporate lending⁽²⁾	$	270		$	387		$	486		$	635		$	615
Commercial lending		897			821			817			725			880
Consumer indirect lending		180			189			184			165			154

Total revenue	$	1,347		$	1,397		$	1,487		$	1,525		$	1,649

Business lending margin
Corporate lending		1.14	%		1.43	%		1.63	%		1.74	%		1.87	%
Commercial lending		1.72			1.71			1.74			1.86			1.83
Consumer indirect lending		1.87			2.03			2.12			2.22			2.30
Provision
Corporate lending	$	(65	)	$	13		$	(51	)	$	(58	)	$	(123	)
Commercial lending		7			128			80			(182	)		31
Consumer indirect lending		74			87			76			37			66

Total provision	$	16		$	228		$	105		$	(203	)	$	(26	)

Credit quality (% vs. loans) ^(3,4)
Criticized assets
Corporate lending	$	1,610		$	1,620		$	1,792		$	2,003		$	2,317
		1.99	%		2.03	%		2.28	%		2.53	%		2.91	%
Commercial lending	$	4,540		$	4,633		$	4,647		$	4,678		$	5,102
		2.75	%		2.82	%		2.92	%		3.00	%		3.37	%

Total	$	6,150		$	6,253		$	6,439		$	6,681		$	7,419
		2.50	%		2.57	%		2.71	%		2.84	%		3.21	%
Nonperforming assets
Corporate lending	$	178		$	183		$	231		$	284		$	397
		0.46	%		0.49	%		0.69	%		0.90	%		1.29	%
Commercial lending	$	474		$	430		$	470		$	676		$	694
		0.34	%		0.31	%		0.36	%		0.52	%		0.55	%

Total	$	652		$	613		$	701		$	960		$	1,091
		0.37	%		0.35	%		0.42	%		0.60	%		0.70	%
Average loans and leases by product
Commercial	$	108,479		$	104,889		$	99,794		$	97,275		$	94,938
Leases		20,095			19,792			20,089			20,226			20,592
Foreign		11,748			10,473			9,384			9,023			8,680
Real estate		34,779			34,209			32,883			31,944			31,415
Consumer		33,579			32,307			31,070			26,665			25,101
Other		2,295			2,346			2,402			2,470			2,491

Total average loans and leases	$	210,975		$	204,016		$	195,622		$	187,603		$	183,217


(1) Includes gains (losses) on sales of debt securities.

(2) Total corporate lending revenue	$	*270*		$	387		$	486		$	635		$	615
Less: impact of credit mitigation		*(83*	)		(36	)		(18	)		96			138

Corporate lending revenues excluding credit mitigation	$	*353*		$	423		$	504		$	539		$	477

(3)

Criticized assets correspond to the Special Mention, Substandard and Doubtful asset categories defined by regulatory authorities. The criticized assets are on an end-of-period basis and are also shown as a percentage of total commercial utilized exposure, including loans and leases, SBLCs and financial guarantees, derivative assets, assets held-for-sale and commercial letters of credit.

(4)

Nonperforming assets are on an end-of-period basis and defined as nonperforming loans and leases plus forecasted property. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed property.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Corporate and Investment Banking Strategic Progress Continues

LOGO

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

Significant US market share gains

•

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

•

Top 5 rankings in:

Syndicated loans

Leveraged loans

High-yield debt

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Wealth and Investment Management Segment Results⁽¹⁾

(Dollars in millions, except as noted)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net interest income⁽²⁾	$	981		$	1,001		$	937		$	923		$	955
Noninterest income
Investment and brokerage services		833			792			793			788			767
All other income		154			98			88			78			91

Total noninterest income		987			890			881			866			858

Total revenue⁽²⁾		1,968			1,891			1,818			1,789			1,813

Provision for credit losses		(1	)		1			(1	)		(9	)		2
Noninterest expense		992			946			922			926			909

Income before income taxes		977			944			897			872			902
Income tax expense		363			337			328			315			318

Net income	$	614		$	607		$	569		$	557		$	584

Shareholder value added	$	336		$	323		$	311		$	294		$	336
Net interest yield⁽²⁾		3.41	%		3.38	%		3.10	%		3.02	%		3.27	%
Return on average equity		22.70			21.98			22.54			21.68			24.01
Efficiency ratio⁽²⁾		50.37			50.05			50.73			51.81			50.13

Balance Sheet
Average
Total loans and leases	$	58,766		$	57,187		$	55,260		$	53,049		$	50,836
Total earning assets		116,785			117,535			119,974			122,628			118,294
Total assets		124,571			125,312			127,805			130,485			125,977
Total deposits		114,001			114,859			118,136			120,256			116,108
Common equity/Allocated equity		10,975			10,954			10,014			10,298			9,863

Period End
Total loans and leases	$	59,512		$	58,380		$	56,147		$	54,332		$	51,845
Total assets		125,819			129,232			125,684			129,840			129,970
Total deposits		115,290			115,454			116,364			119,000			119,584

Client Assets (in billions)
Assets under management	$	493.9		$	482.4		$	457.4		$	442.8		$	433.4
Client brokerage assets		170.6			161.7			155.6			150.9			150.7
Assets in custody		97.0			94.2			96.1			101.7			100.8

Total client assets	$	761.5		$	738.3		$	709.1		$	695.4		$	684.9

⁽¹⁾

Global Wealth and Investment Management services clients through four major businesses: The Private Bank, Columbia Management, Premier Banking and Investments, and Other.

⁽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 beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Wealth and Investment Management Sub-Segment Results

(Dollars in millions)


	First Quarter 2006
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM			Other⁽¹⁾
Net interest income⁽²⁾	$	981		$	249		$	(11	)	$	514		$	44		$	185
Noninterest income
Investment and brokerage services		833			252			364			179			—			38
All other income		154			38			10			24			—			82

Total noninterest income		987			290			374			203			—			120

Total revenue⁽²⁾		1,968			539			363			717			44			305

Provision for credit losses		(1	)		(4	)		—			3			—			—
Noninterest expense		992			314			236			349			—			93

Income before income taxes		977			229			127			365			44			212
Income tax expense		363			85			47			136			16			79

Net income	$	614		$	144		$	80		$	229		$	28		$	133

Shareholder value added	$	336		$	90		$	47		$	134		$	28		$	65
Net interest yield⁽²⁾		3.41	%		3.32	%		(4.30	)%		4.05	%		—	%		—	%
Return on average equity		22.70			26.89			20.56			25.38			—			18.31
Efficiency ratio⁽²⁾		50.37			58.16			64.97			48.71			—			30.45

⁽¹⁾

Other reflects Premier migration impact of $45.4 billion for the three months ended March 31, 2006.

⁽²⁾

Fully taxable-equivalent basis

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Wealth and Investment Management Sub-Segment Results

(Dollars in millions)


	First Quarter 2005
	Total		Private Bank			Columbia Management			Premier Banking and Investments			ALM			Other⁽¹⁾
Net interest income⁽²⁾	$	955	$	242		$	6		$	377		$	206		$	124
Noninterest income
Investment and brokerage services		767		256			315			164			—			32
All other income		91		15			11			34			—			31

Total noninterest income		858		271			326			198			—			63

Total revenue⁽²⁾	$	1,813		513			332			575			206			187

Provision for credit losses		2		(2	)		—			4			—			—
Noninterest expense		909		305			222			314			—			68

Income before income taxes		902		210			110			257			206			119
Income tax expense		318		75			39			87			76			41

Net income	$	584	$	135		$	71		$	170		$	130		$	78

Shareholder value added	$	336	$	84		$	31		$	85		$	130		$	136
Net interest yield⁽²⁾		3.27 %		3.32	%		2.48	%		2.72	%		—	%		—	%
Return on average equity		24.01		26.60			15.73			21.71			—			11.72
Efficiency ratio⁽²⁾		50.13		59.44			66.79			54.70			—			36.17

⁽¹⁾

Other reflects Premier migration impact of $32.4 billion for the three months ended March 31, 2005.

⁽²⁾

Fully taxable-equivalent basis

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

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Global Wealth and Investment Management - Key Indicators

(Dollars in millions, except as noted)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
The Private Bank
Recurring Asset Management Fees	$	246		$	247		$	247		$	269		$	250
Brokerage Commissions		6			5			5			4			6

Total Investment and Brokerage Services Income	$	252		$	252		$	252		$	273		$	256

Assets Under Management	$	165,996		$	164,032		$	165,058		$	162,927		$	164,586
Columbia Management
Recurring Asset Management Fees	$	364		$	335		$	330		$	321		$	315
Brokerage Commissions		—			—			—			—			—

Total Investment and Brokerage Services Income	$	364		$	335		$	330		$	321		$	315

Assets Under Management	$	385,896		$	361,179		$	332,363		$	320,474		$	316,133
Premier Banking and Investments
Recurring Asset Management Fees	$	40		$	37		$	33		$	30		$	26
Brokerage Commissions		139			130			143			133			138

Total Investment and Brokerage Services Income	$	179		$	167		$	176		$	163		$	164

Assets Under Management	$	15,325		$	13,723		$	12,554		$	10,854		$	9,735

Number of Client Managers		2,173			2,104			2,032			1,968			1,906
Number of Financial Advisors		1,873			1,895			1,925			1,969			2,072

Total Premier Banking and Investment Client Advisors		4,046			3,999			3,957			3,937			3,978

Brokerage Revenue per Financial Advisor (in thousands)	$	74		$	69		$	75		$	68		$	67
All Other
Recurring Asset Management Fees	$	30		$	30		$	26		$	23		$	23
Brokerage Commissions		8			8			9			8			9

Total Investment and Brokerage Services Income	$	38		$	38		$	35		$	31		$	32

Assets Under Management Elimination	$	(73,287	)	$	(56,540	)	$	(52,577	)	$	(51,464	)	$	(57,058	)
Total Global Wealth and Investment Management
Recurring Asset Management Fees	$	680		$	649		$	636		$	643		$	614
Brokerage Commissions		153			143			157			145			153

Total Investment and Brokerage Services Income	$	833		$	792		$	793		$	788		$	767

Assets Under Management	$	493,930		$	482,394		$	457,398		$	442,791		$	433,396
($ in billions)
Assets Under Management Rollforward
Beginning Balance	$	482.4		$	457.4		$	442.8		$	433.4		$	451.5
Net Flows		0.7			23.3			7.5			1.4			(7.7	)
Market Valuation/Other		10.8			1.7			7.1			8.0			(10.4	)

Ending Balance	$	493.9		$	482.4		$	457.4		$	442.8		$	433.4

Assets Under Management Mix
Money Market/Other	$	182.4		$	184.9		$	161.5		$	151.2		$	154.1
Fixed Income		82.1			82.9			84.9			91.9			89.4
Equity		229.4			214.6			211.0			199.7			189.9

Total Assets Under Management	$	493.9		$	482.4		$	457.4		$	442.8		$	433.4

% of Assets Under Management in 4 and 5 Star Funds⁽¹⁾		56	%		56	%		53	%		52	%		52	%
% of Assets Under Management in 1st and 2nd Quartiles⁽²⁾		82			78			77			68			72
Client Brokerage Assets
Total Brokerage Assets	$	170.6		$	161.7		$	155.6		$	150.9		$	150.7

⁽¹⁾

Please consider the objectives, risks, charges and expenses of any Columbia fund carefully before investing. Contact your financial advisor for a prospectus, which contains this and other important information about the fund. You should read it carefully before investing.

^©2006 by Morningstar, Inc. All rights reserved. The information contained herein is the proprietary information of Morningstar, Inc., may not be copied or redistributed for any purpose and may only be used for noncommercial, personal purposes. The information contained herein is not represented or warranted to be accurate, correct, complete or timely. Morningstar, Inc. shall not be responsible for investment decisions, damages or other losses resulting from the use of this information. Past performance is no guarantee of future performance. Morningstar, Inc. has not granted consent for it to be considered or deemed an “expert” under the Securities Act of 1933.

⁽²⁾

Results shown are defined by Columbia Management’s calculation of its percentage of assets under management in the top two quartiles of categories based on Morningstar (Equity categories, Lipper (Fixed income categories) (iMoneyNet Money Market funds). The category percentile rank was calculated by ranking the three year gross return of share classes within the categories stated above. The assets of the number of funds within the top 2 quartile results include both were added and then divided by Columbia Management total assets under management. Had fees been included, rankings would have been lower. Past performance is no guarantee of future results.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

All Other Results⁽¹⁾

(Dollars in millions)


	First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005			First Quarter 2005
Net interest income⁽²⁾	$	(55	)	$	5		$	25		$	33		$	(320	)
Noninterest income
Equity investment gains		513			453			596			479			264
All other income		(246	)		(534	)		(631	)		675			(319	)

Total noninterest income		267			(81	)		(35	)		1,154			(55	)

Total revenue⁽²⁾		212			(76	)		(10	)		1,187			(375	)

Provision for credit losses		(25	)		3			41			(22	)		19
Gains (losses) on sales of debt securities		(8	)		(23	)		13			204			630
Merger and restructuring charges		98			59			120			121			112
All other noninterest expense		115			34			123			23			93

Income before income taxes		16			(195	)		(281	)		1,269			31
Income tax expense (benefit)		(95	)		(163	)		(176	)		406			(49	)

Net income	$	111		$	(32	)	$	(105	)	$	863		$	80

Shareholder value added	$	(175	)	$	(406	)	$	(598	)	$	450		$	(338	)

Balance Sheet
Average
Total loans and leases	$	133,326		$	128,152		$	122,390		$	118,078		$	128,478
Total earning assets		227,588			159,157			151,296			137,174			123,763
Total assets		274,206			199,539			191,684			178,030			162,025
Total deposits		17,694			14,677			15,204			22,346			24,465

Period End
Total loans and leases	$	136,700		$	131,123		$	129,878		$	121,223		$	129,762
Total assets		259,174			197,953			197,509			186,620			156,965
Total deposits		28,120			14,762			12,537			19,350			22,336

⁽¹⁾

All Other consists primarily of Equity Investments, the residual impact of the allowance for credit losses process, 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 beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Outstanding Loans and Leases

(Dollars in millions)


	March 31 2006		December 31 2005		Increase from 12/31/05
Consumer
Residential mortgage	$	188,261	$	182,596	$	5,665
Credit card - domestic		64,490		58,548		5,942
Credit card - foreign		7,789		—		7,789
Home equity lines		65,516		62,098		3,418
Direct/Indirect consumer		55,127		45,490		9,637
Other consumer⁽¹⁾		10,528		6,725		3,803

Total consumer		391,711		355,457		36,254

Commercial
Commercial - domestic		146,737		140,533		6,204
Commercial real estate⁽²⁾		36,337		35,766		571
Commercial lease financing		20,813		20,705		108
Commercial - foreign		23,927		21,330		2,597

Total commercial		227,814		218,334		9,480

Total	$	619,525	$	573,791	$	45,734

⁽¹⁾

Includes consumer finance of $2,950 million and $2,849 million; foreign consumer of $7,560 million and $3,841 million; and consumer lease financing of $18 million and $35 million at March 31, 2006 and December 31, 2005.

⁽²⁾

Includes domestic commercial real estate loans of $35,666 million and $35,181 million; and foreign commercial real estate loans of $671 million and $585 million at March 31, 2006 and December 31, 2005.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Commercial Credit Exposure by Industry^(1,2)

(Dollars in millions)


	Commercial Utilized Credit Exposure							Commercial Unfunded Credit Exposure							Total Commercial Committed Credit Exposure
	March 31 2006		December 31 2005		Increase (Decrease)			March 31 2006		December 31 2005		Increase (Decrease)			March 31 2006		December 31 2005		Increase (Decrease)
Real estate⁽³⁾	$	48,492	$	47,582	$	910		$	23,879	$	22,793	$	1,086		$	72,371	$	70,375	$	1,996
Diversified financials		26,195		26,162		33			40,251		39,098		1,153			66,446		65,260		1,186
Retailing		26,797		25,189		1,608			16,377		16,778		(401	)		43,174		41,967		1,207
Banks		28,140		29,588		(1,448	)		8,502		9,056		(554	)		36,642		38,644		(2,002	)
Government and public education		19,835		19,046		789			14,661		14,309		352			34,496		33,355		1,141
Capital goods		15,741		15,361		380			17,534		17,667		(133	)		33,275		33,028		247
Consumer services		18,213		17,481		732			12,068		12,014		54			30,281		29,495		786
Materials		15,595		16,754		(1,159	)		10,966		12,139		(1,173	)		26,561		28,893		(2,332	)
Healthcare equipment and services		14,667		13,458		1,209			11,678		12,039		(361	)		26,345		25,497		848
Individuals and trusts		17,787		16,756		1,031			7,663		7,594		69			25,450		24,350		1,100
Commercial services and supplies		13,412		13,038		374			7,892		8,114		(222	)		21,304		21,152		152
Food, beverage and tobacco		11,348		11,194		154			9,591		9,396		195			20,939		20,590		349
Energy		11,628		9,162		2,466			8,460		8,038		422			20,088		17,200		2,888
Transportation		11,024		11,298		(274	)		6,063		5,683		380			17,087		16,981		106
Utilities		5,162		5,540		(378	)		11,457		9,675		1,782			16,619		15,215		1,404
Media		6,730		6,701		29			9,362		8,549		813			16,092		15,250		842
Insurance		6,022		4,781		1,241			9,381		9,123		258			15,403		13,904		1,499
Religious and social organizations		7,394		7,426		(32	)		2,545		2,596		(51	)		9,939		10,022		(83	)
Consumer durables and apparel		5,073		5,142		(69	)		3,974		4,176		(202	)		9,047		9,318		(271	)
Telecommunication services		3,256		3,520		(264	)		4,767		5,673		(906	)		8,023		9,193		(1,170	)
Technology hardware and equipment		3,044		3,116		(72	)		4,099		4,055		44			7,143		7,171		(28	)
Pharmaceuticals and biotechnology		1,636		1,675		(39	)		4,319		3,231		1,088			5,955		4,906		1,049
Software and services		2,522		2,573		(51	)		3,211		3,135		76			5,733		5,708		25
Automobiles and components		1,780		1,602		178			3,629		4,276		(647	)		5,409		5,878		(469	)
Food and staples retailing		2,016		2,258		(242	)		2,029		1,983		46			4,045		4,241		(196	)
Household and personal products		1,288		537		751			1,496		1,133		363			2,784		1,670		1,114
Semiconductors and semiconductor equipment		576		536		40			701		583		118			1,277		1,119		158
Other		4,736		2,531		2,205			195		423		(228	)		4,931		2,954		1,977

Total	$	330,109	$	320,007	$	10,102		$	256,750	$	253,329	$	3,421		$	586,859	$	573,336	$	13,523

⁽¹⁾

December 31, 2005 industry balances have been restated to reflect the realignment of industry codes in conformance with Standard & Poor’s industry classifications and internal industry management.

⁽²⁾

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 assets totaled $32.6 billion and $33.0 billion at March 31, 2006 and December 31, 2005. Derivative asset collateral totaled $17.4 billion and $17.1 billion at March 31, 2006 and December 31,2005, of which $9.3 billion and $9.3 billion represented cash and $8.1 billion and $7.8 billion represented other marketable securities.

⁽³⁾

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.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Net Credit Default Protection by Industry

(Dollars in millions)


	March 31 2006			December 31 2005
Media	$	(1,479	)	$	(1,790	)
Telecommunication services		(1,117	)		(1,205	)
Materials		(1,033	)		(1,119	)
Retailing		(970	)		(1,134	)
Insurance		(861	)		(1,493	)
Real estate⁽¹⁾		(833	)		(1,305	)
Utilities		(736	)		(899	)
Automobiles and components		(675	)		(679	)
Consumer services		(658	)		(788	)
Capital goods		(499	)		(741	)
Energy		(467	)		(589	)
Healthcare equipment and services		(466	)		(709	)
Commercial services and supplies		(463	)		(472	)
Pharmaceuticals and biotechnology		(417	)		(470	)
Food, beverage and tobacco		(403	)		(580	)
Banks		(395	)		(315	)
Consumer durables and apparel		(354	)		(475	)
Technology hardware and equipment		(234	)		(402	)
Transportation		(224	)		(323	)
Food and staples retailing		(175	)		(324	)
Software and services		(125	)		(299	)
Diversified financials		(111	)		(250	)
Semiconductors and semiconductor equipment		(55	)		(54	)
Government and public education		(55	)		—
Individuals and trusts		(15	)		(30	)
Household and personal products		75			75
Other ⁽²⁾		136			1,677

Total	$	(12,609	)	$	(14,693	)

⁽¹⁾

⁽²⁾

Represents net CDS index positions, which were principally investment grade. Indices are comprised of corporate credit derivatives that trade as an aggregate index value. Generally, they are grouped into portfolios based on specific ratings of credit quality or global geographic location. As of December 31, 2005, CDS index positions were sold to reflect a short-term positive view of the credit markets. This position was reduced by March 31, 2006 as credit markets began to stabilize.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Net Credit Default Protection by Maturity Profile


	March 31 2006		December 31 2005
Less than or equal to one year	3	%	—	%
Greater than one year and less than or equal to five years	64		65
Greater than five years	33		35

Total	100	%	100	%

Net Credit Default Protection by Credit Exposure Debt Rating

(Dollars in millions)


	March 31, 2006					December 31, 2005
Ratings	Net Notional			Percent		Net Notional			Percent
AAA	$	(5	)	—	%	$	22		0.2	%
AA		255		2.0			523		3.6
A		3,894		30.9			4,861		33.1
BBB		6,455		51.2			8,572		58.2
BB		1,377		10.9			1,792		12.2
B		597		4.7			424		2.9
CCC and below		141		1.1			149		1.0
NR⁽¹⁾		(105	)	(0.8	)		(1,650	)	(11.2	)

Total	$	12,609		100.0	%	$	14,693		100.0	%

⁽¹⁾

In addition to unrated names, “NR” includes $136 million and $1,677 million in net CDS index positions at March 31, 2006 and December 31, 2005. While index positions are principally investment grade, CDS indices include names in and across each of the ratings categories.

Information for periods beginning January 1, 2006 includes the MBNA 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 March 31, 2006		Increase/ (Decrease) from December 31, 2005
*Region/Country*
Asia Pacific
China ⁽⁷⁾	$	189	$	106	$	35	$	3,621	$	3,951	$	—	$	3,951	$	547
India		760		152		158		504		1,574		271		1,845		254
South Korea		239		562		83		949		1,833		—		1,833		678
Taiwan		256		66		95		48		465		392		857		(66	)
Hong Kong		266		54		93		382		795		—		795		188
Singapore		210		9		65		190		474		—		474		4
Other Asia Pacific ⁽⁸⁾		45		49		15		491		600		167		767		172

Total Asia Pacific		1,965		998		544		6,185		9,692		830		10,522		1,777

Latin America
Mexico ⁽⁹⁾		1,113		132		59		2,614		3,918		—		3,918		592
Brazil ⁽¹⁰⁾		971		167		6		65		1,209		2,016		3,225		(246	)
Chile		233		22		—		6		261		693		954		(26	)
Argentina		44		24		—		92		160		—		160		(34	)
Other Latin America ⁽⁸⁾		141		121		3		28		293		8		301		(58	)

Total Latin America		2,502		466		68		2,805		5,841		2,717		8,558		228

Central and Eastern Europe⁽⁸⁾		10		58		22		89		179		—		179		37

Total	$	4,477	$	1,522	$	634	$	9,079	$	15,712	$	3,547	$	19,259	$	2,042

⁽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 $40 million and and $58 million at March 31, 2006 and December 31, 2005.

⁽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 March 31, 2006 was $24.8 billion compared to $24.2 billion at December 31, 2005. Local liabilities at March 31, 2006 in Asia Pacific and Latin America were $13.4 billion and $11.4 billion, of which $6.8 billion were in Hong Kong, $6.2 billion in Brazil, $4.1 billion in Singapore, $1.7 billion in both Argentina and Chile, $979 million in Mexico, $820 million in Korea, $799 million in Uruguay, and $612 million in India. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

⁽⁷⁾

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

⁽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⁾

Securities/Other Investments includes an equity investment of $2.1 billion in Grupo Financiero Santander Serfin.

⁽¹⁰⁾

The Corporation has risk mitigation instruments associated with certain exposures in Brazil, including structured trade-related transfer risk mitigation of $866 million and $830 million, third party funding of $151 million and $313 million, and linked certificates of deposit of $43 million and $59 million at March 31, 2006 and December 31, 2005. The resulting total foreign exposure net of risk mitigation was $2.2 billion and $2.3 billion at March 31, 2006 and December 31, 2005.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Nonperforming Assets

(Dollars in millions)


	March 31 2006			December 31 2005			September 30 2005			June 30 2005			March 31 2005
Residential mortgage	$	538		$	570		$	493		$	494		$	536
Home equity lines		121			117			88			75			70
Direct/Indirect consumer		34			37			32			33			32
Other consumer		92			61			75			76			83

Total consumer		785			785			688			678			721

Commercial - domestic		631			581			641			662			811
Commercial real estate		72			49			44			60			64
Commercial lease financing		53			62			61			282			249
Commercial - foreign		43			34			64			88			228

Total commercial		799			726			810			1,092			1,352

Total nonperforming loans and leases		1,584			1,511			1,498			1,770			2,073
Nonperforming securities⁽¹⁾		—			—			—			14			153
Foreclosed properties		96			92			99			111			112

Total nonperforming assets⁽²⁾	$	1,680		$	1,603		$	1,597		$	1,895		$	2,338

Loans past due 90 days or more and still accruing	$	1,924		$	1,455		$	1,417		$	1,235		$	1,211
Nonperforming assets / Total assets		0.12	%		0.12	%		0.13	%		0.15	%		0.19	%
Nonperforming assets / Total loans, leases and foreclosed properties		0.27			0.28			0.29			0.36			0.44
Nonperforming loans and leases / Total loans and leases		0.26			0.26			0.27			0.33			0.39
Allowance for credit losses:
Allowance for loan and lease losses	$	9,067		$	8,045		$	8,326		$	8,319		$	8,313
Reserve for unfunded lending commitments		395			395			390			383			394

Total	$	9,462		$	8,440		$	8,716		$	8,702		$	8,707

Allowance for loan and lease losses / Total loans and leases		1.46	%		1.40	%		1.50	%		1.57	%		1.57	%
Allowance for loan and lease losses / Total nonperforming loans and leases		572			532			556			470			401
Commercial criticized exposure	$	7,262		$	7,527		$	7,632		$	7,731		$	8,858
Commercial criticized exposure / Commercial utilized exposure		2.20	%		2.35	%		2.47	%		2.59	%		2.95	%

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 performing securities in Argentina that resulted from the completion of a government mandated securities exchange program.

⁽²⁾

Balances do not include $62 million, $50 million, $93 million, $49 million and $76 million of nonperforming commercial assets, primarily commercial loans held-for-sale, included in Other Assets at March 31, 2006, December 31, 2005, September 30, 2005, June 30, 2005 and March 31, 2005, respectively.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Bank of America Corporation

Quarterly Net Charge-offs and Net Charge-off Ratios

(Dollars in millions)


	First Quarter 2006										Fourth Quarter 2005					Third Quarter 2005					Second Quarter 2005					First Quarter 2005
	As Reported					Excluding Impact of SOP 03-3⁽¹⁾					Fourth Quarter 2005					Third Quarter 2005					Second Quarter 2005					First Quarter 2005
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	10		0.02	%	$	10		0.02	%	$	5		0.01	%	$	7		0.02	%	$	11		0.03	%	$	4		0.01	%
Credit card - domestic		634		3.77			705		4.19			1,366		9.53			772		5.55			774		5.91			740		5.85
Credit card - foreign		19		0.94			57		2.77			—		—			—		—			—		—			—		—
Home equity lines		9		0.05			9		0.05			7		0.04			9		0.06			9		0.07			6		0.05
Direct/Indirect consumer		79		0.58			139		1.02			81		0.69			60		0.50			46		0.43			61		0.60
Other consumer⁽²⁾		42		1.67			70		2.76			118		7.06			58		3.42			43		2.48			56		3.12

Total consumer		793		0.82			990		1.03			1,577		1.79			906		1.06			883		1.09			867		1.07

Commercial - domestic		52		0.14			65		0.18			97		0.28			54		0.17			(7	)	(0.02	)		26		0.09
Commercial real estate		(1	)	(0.01	)		(1	)	(0.01	)		(3	)	(0.03	)		2		0.02			1		0.01			—		—
Commercial lease financing		(23	)	(0.45	)		(23	)	(0.45	)		(12	)	(0.25	)		209		4.06			9		0.19			25		0.48
Commercial - foreign		1		0.01			1		0.01			(11	)	(0.21	)		(26	)	(0.55	)		(6	)	(0.15	)		(29	)	(0.66	)

Total commercial		29		0.05			42		0.08			71		0.13			239		0.47			(3	)	(0.01	)		22		0.05

Total net charge-offs	$	822		0.54		$	1,032		0.68		$	1,648		1.16		$	1,145		0.84		$	880		0.68		$	889		0.69

By Business Segment:
Global Consumer and Small Business Banking	$	763		1.65	%	$	973		2.11	%	$	1,535		4.08	%	$	887		2.42	%	$	861		2.44	%	$	817		2.38	%
Global Corporate and Investment Banking		50		0.09			50		0.09			87		0.15			240		0.44			(5	)	(0.01	)		39		0.08
Global Wealth and Investment Management		—		—			—		—			(1	)	(0.01	)		(1	)	(0.01	)		5		0.04			—		—
All Other		9		0.03			9		0.03			27		0.09			19		0.06			19		0.07			33		0.10

Total net charge-offs	$	822		0.54		$	1,032		0.68		$	1,648		1.16		$	1,145		0.84		$	880		0.68		$	889		0.69

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

⁽¹⁾

This is a non-GAAP financial measure. It excludes an adjustment to record impaired loans to the present value of expected cash flows in accordance with Statement of Position 03-3 “Accounting for Certain Loans or Debt Securities Acquired in a Transfer.” (SOP 03-3) See reconciliation in Exhibit A of net charge-offs and net charge-off ratios to net charge-offs and net charge-off ratios excluding impact of SOP 03-3.

⁽²⁾

Includes lease financing of $1 million, $2 million, $2 million, $2 million and $3 million for the quarters ended March 31, 2006, December 31, 2005, September 30, 2005, June 30, 2005 and March 31, 2005, respectively.

LOGO

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.

Exhibit A

Reconciliation of Net Charge-offs and Net Charge-off Ratios to Net Charge-offs and Net Charge-off Ratios Excluding the Impact of SOP 03-3

Net Charge-offs and Net Charge-off Ratios As Reported ⁽¹⁾


	First Quarter 2006
*(Dollars in millions)*	Amount			Average Outstanding Loans and Leases		Percent
Residential mortgage	$	10		$	184,796	0.02	%
Credit card - domestic		634			68,169	3.77
Credit card - foreign		19			8,403	0.94
Home equity lines		9			64,198	0.05
Direct/Indirect consumer		79			55,025	0.58
Other consumer		42			10,357	1.67

Total consumer		793			390,948	0.82

Commercial - domestic		52			144,693	0.14
Commercial real estate		(1	)		36,676	(0.01	)
Commercial lease financing		(23	)		20,512	(0.45	)
Commercial - foreign		1			23,139	0.01

Total commercial		29			225,020	0.05

Total net charge-offs	$	822		$	615,968	0.54


Impact of SOP 03-3⁽²⁾

Residential mortgage	$	—
Credit card - domestic		71
Credit card - foreign		38
Home equity lines		—
Direct/Indirect consumer		60
Other consumer		28

Total consumer		197

Commercial - domestic		13
Commercial real estate		—
Commercial lease financing		—
Commercial - foreign		—

Total commercial		13

Total net charge-offs	$	210


Net Charge-offs and Net Charge-off Ratios
Excluding the Impact of SOP 03-3

Residential mortgage	$	10		$	184,796	0.02	%
Credit card - domestic		705			68,169	4.19
Credit card - foreign		57			8,403	2.77
Home equity lines		9			64,198	0.05
Direct/Indirect consumer		139			55,025	1.02
Other consumer		70			10,357	2.76

Total consumer		990			390,948	1.03

Commercial - domestic		65			144,693	0.18
Commercial real estate		(1	)		36,676	(0.01	)
Commercial lease financing		(23	)		20,512	(0.45	)
Commercial - foreign		1			23,139	0.01

Total commercial		42			225,020	0.08

Total net charge-offs	$	1,032		$	615,968	0.68

⁽¹⁾

Percentage amounts are calculated as annualized net charge-offs divided by average outstanding loans and leases during the period for each loan category.

⁽²⁾

The impact of SOP 03-3 on average outstanding loans and leases for the three months ended March 31, 2006 was immaterial.

Information for periods beginning January 1, 2006 includes the MBNA acquisition; prior periods have not been restated.