Supplemental Information

Exhibit 99.2

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Supplemental Information

Second 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)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Income statement
Net interest income	$	17,406		$	15,143		$	8,630		$	8,776		$	7,859		$	7,735		$	7,637
Noninterest income		18,499			12,987			9,598			8,901			5,951			6,416			6,955
Total revenue		35,905			28,130			18,228			17,677			13,810			14,151			14,592
Provision for credit losses		2,275			1,455			1,005			1,270			1,400			1,159			875
Gains (losses) on sales of debt securities		5			984			(9	)		14			71			29			325
Noninterest expense		17,641			14,076			8,717			8,924			7,320			7,285			7,019
Income tax expense		5,533			4,533			3,022			2,511			1,587			1,895			2,366
Net income		10,461			9,050			5,475			4,986			3,574			3,841			4,657
Diluted earnings per common share		2.25			2.21			1.19			1.07			0.88			0.95			1.14
Average diluted common shares issued and outstanding		4,636,959			4,081,921			4,601,169			4,666,405			4,053,859			4,054,659			4,065,355
Dividends paid per common share	$	1.00		$	0.90		$	0.50		$	0.50		$	0.50		$	0.50		$	0.45
Performance ratios
Return on average assets		1.47	%		1.47	%		1.51	%		1.43	%		1.09	%		1.18	%		1.46	%
Return on average common shareholders’ equity		16.34			18.44			17.26			15.44			14.21			15.09			18.93

At period end
Book value per share of common stock	$	28.17		$	25.16		$	28.17		$	28.19		$	25.32		$	25.28		$	25.16
Market price per share of common stock:
Closing price	$	48.10		$	45.61		$	48.10		$	45.54		$	46.15		$	42.10		$	45.61
High closing price for the period		50.47			47.08			50.47			47.08			46.99			45.98			47.08
Low closing price for the period		43.09			43.66			45.48			43.09			41.57			41.60			44.01
Market capitalization		217,794			183,202			217,794			208,633			184,586			168,950			183,202
Number of banking centers - domestic		5,779			5,880			5,779			5,786			5,873			5,844			5,880
Number of ATMs - domestic		16,984			16,687			16,984			16,716			16,785			16,714			16,687
Full-time equivalent employees		201,898			178,107			201,898			202,503			176,934			177,539			178,107

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


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Net interest income	$	17,966		$	15,534		$	8,926		$	9,040		$	8,102		$	7,933		$	7,828
Total revenue		36,465			28,521			18,524			17,941			14,053			14,349			14,783
Net interest yield		2.91	%		2.88	%		2.85	%		2.98	%		2.82	%		2.78	%		2.80	%
Efficiency ratio		48.38			49.36			47.06			49.74			52.09			50.76			47.49

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 June 30, 2006, March 31, 2006, December 31, 2005, September 30, 2005 and June 30, 2005, and the six months ended June 30, 2006 and 2005.

Reconciliation of net income to operating earnings


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Net income	$	10,461		$	9,050		$	5,475		$	4,986		$	3,574		$	3,841		$	4,657
Merger and restructuring charges		292			233			194			98			59			120			121
Related income tax benefit		(108	)		(78	)		(71	)		(37	)		(19	)		(40	)		(41	)

Operating earnings	$	10,645		$	9,205		$	5,598		$	5,047		$	3,614		$	3,921		$	4,737


Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity

Average common shareholders’ equity	$	128,981		$	98,842		$	127,102		$	130,881		$	99,677		$	100,974		$	98,558
Average goodwill		(66,160	)		(45,363	)		(66,226	)		(66,094	)		(45,305	)		(45,297	)		(45,379	)

Average tangible common shareholders’ equity	$	62,821		$	53,479		$	60,876		$	64,787		$	54,372		$	55,677		$	53,179

Operating basis

Diluted earnings per common share	$	2.29		$	2.25		$	1.22		$	1.08		$	0.89		$	0.97		$	1.16
Return on average assets		1.49	%		1.50	%		1.54	%		1.45	%		1.10	%		1.20	%		1.49	%
Return on average common shareholders’ equity		16.63			18.76			17.65			15.63			14.36			15.39			19.26
Return on average tangible common shareholders’ equity		34.14			34.68			36.85			31.57			26.33			27.91			35.70
Efficiency ratio		47.58			48.54			46.01			49.19			51.66			49.92			46.67

Reconciliation of net income to shareholder value added

Net income	$	10,461		$	9,050		$	5,475		$	4,986		$	3,574		$	3,841		$	4,657
Amortization of intangibles		881			412			441			440			196			201			204
Merger and restructuring charges, net of tax benefit		184			155			123			61			40			80			80
Capital charge		(7,035	)		(5,392	)		(3,485	)		(3,550	)		(2,764	)		(2,799	)		(2,703	)

Shareholder value added	$	4,491		$	4,225		$	2,554		$	1,937		$	1,046		$	1,323		$	2,238

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)


	Year-to-Date June 30				Second Quarter 2006			First Quarter 2006		Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006		2005		Second Quarter 2006			First Quarter 2006		Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Interest income
Interest and fees on loans and leases	$	22,931	$	16,374	$	11,804		$	11,127	$	9,536		$	8,933		$	8,294
Interest and dividends on securities		6,135		5,329		3,121			3,014		2,815			2,793			2,796
Federal funds sold and securities purchased under agreements to resell		3,609		2,153		1,900			1,709		1,477			1,382			1,249
Trading account assets		3,175		2,608		1,627			1,548		1,585			1,550			1,426
Other interest income		1,572		939		845			727		605			547			502

Total interest income		37,422		27,403		19,297			18,125		16,018			15,205			14,267

Interest expense
Deposits		6,515		4,545		3,508			3,007		2,476			2,471			2,363
Short-term borrowings		9,151		4,570		4,842			4,309		3,855			3,190			2,582
Trading account liabilities		1,113		1,038		596			517		619			707			611
Long-term debt		3,237		2,107		1,721			1,516		1,209			1,102			1,074

Total interest expense		20,016		12,260		10,667			9,349		8,159			7,470			6,630

Net interest income		17,406		15,143		8,630			8,776		7,859			7,735			7,637

Noninterest income
Service charges		3,978		3,697		2,077			1,901		1,927			2,080			1,920
Investment and brokerage services		2,249		2,062		1,146			1,103		1,062			1,060			1,049
Mortgage banking income		226		410		89			137		215			180			189
Investment banking income		1,113		797		612			501		537			522			431
Equity investment gains		1,306		891		646			660		481			668			492
Card income		7,093		2,726		3,662			3,431		1,507			1,520			1,437
Trading account profits		1,975		907		915			1,060		299			557			222
Other income		559		1,497		451			108		(77	)		(171	)		1,215

Total noninterest income		18,499		12,987		9,598			8,901		5,951			6,416			6,955

Total revenue		35,905		28,130		18,228			17,677		13,810			14,151			14,592

Provision for credit losses		2,275		1,455		1,005			1,270		1,400			1,159			875

Gains (losses) on sales of debt securities		5		984		(9	)		14		71			29			325

Noninterest expense
Personnel		9,293		7,372		4,480			4,813		3,845			3,837			3,671
Occupancy		1,404		1,251		703			701		699			638			615
Equipment		660		594		316			344		305			300			297
Marketing		1,126		683		551			575		265			307			346
Professional fees		451		393		233			218		283			254			216
Amortization of intangibles		881		412		441			440		196			201			204
Data processing		819		732		409			410		394			361			368
Telecommunications		448		402		228			220		219			206			196
Other general operating		2,267		2,004		1,162			1,105		1,055			1,061			985
Merger and restructuring charges		292		233		194			98		59			120			121

Total noninterest expense		17,641		14,076		8,717			8,924		7,320			7,285			7,019

Income before income taxes		15,994		13,583		8,497			7,497		5,161			5,736			7,023
Income tax expense		5,533		4,533		3,022			2,511		1,587			1,895			2,366

Net income	$	10,461	$	9,050	$	5,475		$	4,986	$	3,574		$	3,841		$	4,657

Net income available to common shareholders	$	10,452	$	9,041	$	5,471		$	4,981	$	3,570		$	3,836		$	4,653

Per common share information
Earnings	$	2.29	$	2.25	$	1.21		$	1.08	$	0.89		$	0.96		$	1.16

Diluted earnings	$	2.25	$	2.21	$	1.19		$	1.07	$	0.88		$	0.95		$	1.14

Dividends paid	$	1.00	$	0.90	$	0.50		$	0.50	$	0.50		$	0.50		$	0.45

Average common shares issued and outstanding		4,572,013		4,019,089		4,534,627			4,609,481		3,996,024			4,000,573			4,005,356

Average diluted common shares issued and outstanding		4,636,959		4,081,921		4,601,169			4,666,405		4,053,859			4,054,659			4,065,355

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)	June 30 2006			March 31 2006			June 30 2005
Assets
Cash and cash equivalents	$	34,545		$	32,575		$	33,935
Time deposits placed and other short-term investments		14,652			11,157			9,682
Federal funds sold and securities purchased under agreements to resell		136,645			137,081			149,287
Trading account assets		134,708			117,181			126,658
Derivative assets		25,526			23,291			26,019
Securities:
Available-for-sale		235,785			237,987			233,412
Held-to-maturity, at cost		61			86			174

Total securities		235,846			238,073			233,586

Loans and leases		667,953			619,525			529,428
Allowance for loan and lease losses		(9,080	)		(9,067	)		(8,319	)

Loans and leases, net of allowance		658,873			610,458			521,109

Premises and equipment, net		9,334			9,267			7,602
Mortgage servicing rights (includes $3,083 and $2,925 measured at fair value at June 30 and March 31, 2006)		3,231			3,070			2,365
Goodwill		66,095			66,271			45,381
Core deposit intangibles and other intangibles		10,338			10,681			3,472
Other assets		115,400			115,975			87,243

Total assets	$	1,445,193		$	1,375,080		$	1,246,339


Liabilities
Deposits in domestic offices:
Noninterest-bearing	$	177,209		$	179,358		$	175,427
Interest-bearing		410,940			415,769			397,778
Deposits in foreign offices:
Noninterest-bearing		6,765			6,874			6,102
Interest-bearing		81,951			80,448			56,110

Total deposits		676,865			682,449			635,417

Federal funds purchased and securities sold under agreements to repurchase		259,108			236,919			207,710
Trading account liabilities		57,486			51,100			61,906
Derivative liabilities		18,633			15,541			15,630
Commercial paper and other short-term borrowings		136,886			99,389			93,763
Accrued expenses and other liabilities (includes $395, $395 and $383 of reserve for unfunded lending commitments)		39,318			37,078			34,940
Long-term debt		129,056			123,178			95,638

Total liabilities		1,317,352			1,245,654			1,145,004

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 - 4,527,940,943; 4,581,317,964 and 4,016,703,839 shares		65,822			68,705			42,507
Retained earnings		73,393			70,204			64,154
Accumulated other comprehensive income (loss)		(10,973	)		(8,981	)		(5,023	)
Other		(672	)		(773	)		(574	)

Total shareholders’ equity		127,841			129,426			101,335

Total liabilities and shareholders’ equity	$	1,445,193		$	1,375,080		$	1,246,339

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)


	Second Quarter 2006⁽¹⁾			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Tier 1 capital	$	84,978		$	83,174		$	74,375		$	73,572		$	69,633
Total capital		114,738			111,422			99,901			99,531			95,760
Risk-weighted assets		1,019,828			984,190			901,469			889,643			853,086
Tier 1 capital ratio		8.33	%		8.45	%		8.25	%		8.27	%		8.16	%
Total capital ratio		11.25			11.32			11.08			11.19			11.23
Tangible equity ratio⁽²⁾		3.76			4.04			4.26			4.41			4.38
Tier 1 leverage ratio		6.13			6.18			5.91			5.90			5.66

(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

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

182.7 million shares remain outstanding under the 2006 authorized program.

29.7 million shares were issued in the second quarter of 2006.

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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)


	Six Months Ended June 30						Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
	2006			2005			2006			2006			2005			2005			2005
Net Interest Income
As reported (fully taxable-equivalent basis)	$	17,966		$	15,534		$	8,926		$	9,040		$	8,102		$	7,933		$	7,828
Impact of market-based net interest income⁽¹⁾		(790	)		(1,068	)		(379	)		(411	)		(421	)		(450	)		(520	)

Core net interest income		17,176			14,466			8,547			8,629			7,681			7,483			7,308
Impact of securitizations		3,435			261			1,710			1,725			11			52			106

Core net interest income - managed basis	$	20,611		$	14,727		$	10,257		$	10,354		$	7,692		$	7,535		$	7,414

Average Earning Assets
As reported	$	1,236,848		$	1,081,908		$	1,253,895		$	1,219,611		$	1,145,550		$	1,137,629		$	1,118,518
Impact of market-based earning assets		(347,108	)		(312,137	)		(357,549	)		(336,552	)		(329,299	)		(335,043	)		(338,530	)

Core average earning assets		889,740			769,771			896,346			883,059			816,251			802,586			779,988
Impact of securitizations		96,523			10,961			96,776			96,268			6,447			7,827			10,773

Core average earning assets - managed basis	$	986,263		$	780,732		$	993,122		$	979,327		$	822,698		$	810,413		$	790,761

Net Interest Yield Contribution
As reported (fully taxable-equivalent basis)		2.91	%		2.88	%		2.85	%		2.98	%		2.82	%		2.78	%		2.80	%
Impact of market-based activities		0.96			0.89			0.97			0.95			0.93			0.94			0.95

Core net interest yield on earning assets		3.87			3.77			3.82			3.93			3.75			3.72			3.75
Impact of securitizations		0.32			0.01			0.31			0.32			(0.02	)		(0.01	)		—

Core net interest yield on earning assets - managed basis		4.19	%		3.78	%		4.13	%		4.25			3.73	%		3.71	%		3.75	%

⁽¹⁾

Market-based Net Interest Income represents Net Interest Income from the Capital Markets and Advisory Services business within Global Corporate and Investment Banking.

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

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

(Dollars in millions)


	Second Quarter 2006						First Quarter 2006						Second 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	$	16,691	$	168	4.05	%	$	14,347	$	139	3.92	%	$	13,696	$	113	3.31	%
Federal funds sold and securities purchased under agreements to resell		179,104		1,900	4.25			174,711		1,709	3.94			185,835		1,249	2.69
Trading account assets		133,556		1,712	5.13			133,361		1,623	4.89			134,196		1,454	4.34
Securities		236,967		3,162	5.34			234,606		3,043	5.19			227,182		2,825	4.98
Loans and leases⁽¹⁾:
Residential mortgage		197,228		2,731	5.54			184,796		2,524	5.48			167,263		2,285	5.47
Credit card - domestic		64,980		2,168	13.38			68,169		2,180	12.97			52,474		1,481	11.32
Credit card - foreign		8,305		269	12.97			8,403		287	13.86			-		-	-
Home equity lines		67,182		1,231	7.35			64,198		1,112	7.02			54,941		799	5.83
Direct/Indirect consumer		56,715		1,057	7.46			55,025		986	7.24			43,132		612	5.69
Other consumer⁽²⁾		10,804		294	10.95			10,357		272	10.59			6,968		155	8.96

Total consumer		405,214		7,750	7.66			390,948		7,361	7.60			324,778		5,332	6.58

Commercial - domestic		148,445		2,695	7.28			144,693		2,490	6.97			123,927		1,938	6.27
Commercial real estate		36,749		680	7.41			36,676		632	6.99			33,484		477	5.72
Commercial lease financing		20,896		262	5.01			20,512		247	4.82			20,446		252	4.93
Commercial - foreign		24,345		456	7.52			23,139		427	7.48			17,780		306	6.90

Total commercial		230,435		4,093	7.12			225,020		3,796	6.83			195,637		2,973	6.09

Total loans and leases		635,649		11,843	7.47			615,968		11,157	7.32			520,415		8,305	6.40

Other earning assets		51,928		808	6.24			46,618		718	6.22			37,194		512	5.52

Total earning assets⁽³⁾		1,253,895		19,593	6.26			1,219,611		18,389	6.08			1,118,518		14,458	5.18

Cash and cash equivalents		35,070						34,857						34,731
Other assets, less allowance for loan and lease losses		167,039						161,905						124,229

Total assets	$	1,456,004					$	1,416,373					$	1,277,478


Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,681	$	76	0.84	%	$	35,550	$	76	0.87	%	$	38,043	$	52	0.54	%
NOW and money market deposit accounts		221,198		996	1.81			227,606		908	1.62			229,174		723	1.27
Consumer CDs and IRAs		141,408		1,393	3.95			135,068		1,177	3.53			127,169		1,004	3.17
Negotiable CDs, public funds and other time deposits		13,005		123	3.80			8,551		70	3.30			7,751		82	4.22

Total domestic interest-bearing deposits		411,292		2,588	2.52			406,775		2,231	2.22			402,137		1,861	1.86

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		32,456		489	6.05			30,116		424	5.71			25,546		294	4.61
Governments and official institutions		13,428		155	4.63			10,200		107	4.25			7,936		59	2.97
Time, savings and other		37,178		276	2.98			35,136		245	2.83			30,973		149	1.94

Total foreign interest-bearing deposits		83,062		920	4.44			75,452		776	4.17			64,455		502	3.13

Total interest-bearing deposits		494,354		3,508	2.85			482,227		3,007	2.53			466,592		2,363	2.03

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		408,734		4,842	4.75			399,896		4,309	4.37			323,916		2,582	3.20
Trading account liabilities		61,263		596	3.90			52,466		517	3.99			60,987		611	4.02
Long-term debt		125,620		1,721	5.48			117,018		1,516	5.18			96,697		1,074	4.45

Total interest-bearing liabilities⁽³⁾		1,089,971		10,667	3.92			1,051,607		9,349	3.60			948,192		6,630	2.80

Noninterest-bearing sources:
Noninterest-bearing deposits		180,442						177,594						174,001
Other liabilities		58,218						56,019						56,456
Shareholders’ equity		127,373						131,153						98,829

Total liabilities and shareholders’ equity	$	1,456,004					$	1,416,373					$	1,277,478

Net interest spread					2.34						2.48						2.38
Impact of noninterest-bearing sources					0.51						0.50						0.42

Net interest income/yield on earning assets			$	8,926	2.85	%			$	9,040	2.98	%			$	7,828	2.80	%

(1)

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

(2)

Includes consumer finance of $2,999 million and $3,012 million in the second and first quarters of 2006 and $3,212 million in the second quarter of 2005; foreign consumer of $7,798 million and $7,328 million in the second and first quarters of 2006, and $3,505 million in the second quarter of 2005; and consumer lease financing of $7 million and $17 million in the second and first quarters of 2006, and $251 million in the second quarter of 2005.

(3)

Interest income includes the impact of interest rate risk management contracts, which increased(decreased) interest income on the underlying assets ($54) million and $8 million in the second and first quarters of 2006, and $168 million in the second quarter of 2005. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $87 million and $136 million in the second and first quarters of 2006, and $303 million in the second quarter 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)


	Second Quarter 2006							First Quarter 2006							Second 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⁾	$	16,691	$	181		4.36	%	$	14,347	$	142		4.01	%	$	13,696	$	114		3.33	%
Federal funds sold and securities purchased under agreements to resell ⁽²⁾		179,104		2,014		4.50			174,711		1,800		4.15			185,835		1,268		2.73
Trading account assets		133,556		1,712		5.13			133,361		1,623		4.89			134,196		1,454		4.34
Securities⁽²⁾		236,967		3,164		5.34			234,606		3,043		5.19			227,182		2,829		4.98
Loans and leases⁽³⁾:
Residential mortgage ⁽²⁾		197,228		2,731		5.54			184,796		2,524		5.48			167,263		2,268		5.43
Credit card - domestic		64,980		2,168		13.38			68,169		2,180		12.97			52,474		1,481		11.32
Credit card - foreign		8,305		269		12.97			8,403		287		13.86			—		—		—
Home equity lines		67,182		1,231		7.35			64,198		1,112		7.02			54,941		799		5.83
Direct/Indirect consumer		56,715		1,057		7.46			55,025		986		7.24			43,132		612		5.69
Other consumer⁽⁴⁾		10,804		294		10.95			10,357		272		10.59			6,968		155		8.96

Total consumer		405,214		7,750		7.66			390,948		7,361		7.60			324,778		5,315		6.56

Commercial - domestic ⁽²⁾		148,445		2,619		7.08			144,693		2,379		6.66			123,927		1,721		5.57
Commercial real estate		36,749		680		7.41			36,676		632		6.99			33,484		477		5.72
Commercial lease financing		20,896		262		5.01			20,512		247		4.82			20,446		252		4.93
Commercial - foreign ⁽²⁾		24,345		455		7.50			23,139		426		7.46			17,780		305		6.88

Total commercial		230,435		4,016		6.99			225,020		3,684		6.63			195,637		2,755		5.65

Total loans and leases		635,649		11,766		7.42			615,968		11,045		7.24			520,415		8,070		6.22

Other earning assets ⁽²⁾		51,928		810		6.25			46,618		728		6.31			37,194		555		5.98

Total earning assets - excluding hedge impact		1,253,895		19,647		6.28			1,219,611		18,381		6.07			1,118,518		14,290		5.12

Net derivative income (expense) on assets				(54	)						8							168

Total earning assets - including hedge impact		1,253,895		19,593		6.26			1,219,611		18,389		6.08			1,118,518		14,458		5.18

Cash and cash equivalents		35,070							34,857							34,731
Other assets, less allowance for loan and lease losses		167,039							161,905							124,229

Total assets	$	1,456,004						$	1,416,373						$	1,277,478

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,681	$	76		0.84	%	$	35,550	$	76		0.87	%	$	38,043	$	52		0.54	%
NOW and money market deposit accounts ⁽²⁾		221,198		995		1.80			227,606		906		1.61			229,174		722		1.26
Consumer CDs and IRAs ⁽²⁾		141,408		1,230		3.49			135,068		1,022		3.07			127,169		786		2.48
Negotiable CDs, public funds and other time deposits ⁽²⁾		13,005		121		3.74			8,551		68		3.21			7,751		63		3.22

Total domestic interest-bearing deposits		411,292		2,422		2.36			406,775		2,072		2.07			402,137		1,623		1.62

Foreign interest-bearing deposits ⁽⁵⁾:
Banks located in foreign countries ⁽²⁾		32,456		476		5.88			30,116		403		5.43			25,546		270		4.24
Governments and official institutions		13,428		155		4.63			10,200		107		4.25			7,936		59		2.97
Time, savings and other		37,178		276		2.98			35,136		245		2.83			30,973		149		1.94

Total foreign interest-bearing deposits		83,062		907		4.38			75,452		755		4.06			64,455		478		2.98

Total interest-bearing deposits		494,354		3,329		2.70			482,227		2,827		2.38			466,592		2,101		1.81

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings ⁽²⁾		408,734		5,021		4.93			399,896		4,375		4.43			323,916		2,479		3.07
Trading account liabilities		61,263		596		3.90			52,466		517		3.99			60,987		611		4.02
Long-term debt ⁽²⁾		125,620		1,634		5.20			117,018		1,494		5.11			96,697		1,136		4.70

Total interest-bearing liabilities - excluding hedge impact		1,089,971		10,580		3.89			1,051,607		9,213		3.54			948,192		6,327		2.67

Net derivative (income) expense on liabilities				87							136							303

Total interest-bearing liabilities - including hedge impact		1,089,971		10,667		3.92			1,051,607		9,349		3.60			948,192		6,630		2.80

Noninterest-bearing sources:
Noninterest-bearing deposits		180,442							177,594							174,001
Other liabilities		58,218							56,019							56,456
Shareholders’ equity		127,373							131,153							98,829

Total liabilities and shareholders’ equity	$	1,456,004						$	1,416,373						$	1,277,478

Net interest spread						2.39							2.53							2.45
Impact of noninterest-bearing sources						0.51							0.49							0.40

Net interest income/yield on earning assets - excluding hedge impact			$	9,067		2.90				$	9,168		3.02				$	7,963		2.85

Net impact of derivative hedge income (expense)				(141	)	(0.05	)				(128	)	(0.04	)				(135	)	(0.05	)

Net interest income/yield on earning assets			$	8,926		2.85	%			$	9,040		2.98	%			$	7,828		2.80	%

(1)

This table presents a non-GAAP financial measure. The impact of interest rate risk management derivatives is shown separately. Interest income and interest expense amounts, and the yields and rates have been adjusted. Management believes this presentation is useful to investors because it adjusts for the impact of our hedging decisions and provides a better understanding of our hedging activities. The impact of interest rate risk 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 $(13) million, federal funds sold and securities purchased under agreements to resell $(114) million, securities $(2) million, commercial—domestic $76 million, commercial—foreign $1 million, and other earning assets $(2) million in the second 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 $1 million, consumer CDs and IRAs $163 million, negotiable CDs, public funds and other time deposits $2 million, banks located in foreign countries $13 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $(179) million and long-term debt $87 million in the second 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 $(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 $(1) million, federal funds sold and securities purchased under agreements to resell $(19) million, securities $(4) million, residential mortgage $17 million, commercial—domestic $217 million, commercial—foreign $1 million and other earning assets $(43) million in the second 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 $1 million, consumer CDs and IRAs $218 million, negotiable CDs, public funds and other time deposits $19 million, banks located in foreign countries $24 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $103 million and long-term debt $(62) million in the second 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 $2,999 million and $3,012 million in the second and first quarters of 2006, and $3,212 million in the second quarter of 2005; foreign consumer of $7,798 million and $7,328 million in the second and first quarters of 2006, and $3,505 million in the second quarter of 2005; and consumer lease financing of $7 million and $17 million in the second and first quarters of 2006, and $251 million in the second quarter 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

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

(Dollars in millions)


	Six Months Ended June 30
	2006						2005
	Average Balance		Interest Income/ Expense		Yield/ Rate		Average Balance		Interest Income/ Expense		Yield/ Rate
Earning assets
Time deposits placed and other short-term investments	$	15,525	$	307	3.99	%	$	14,010	$	214	3.09	%
Federal funds sold and securities purchased under agreements to resell		176,919		3,609	4.09			166,950		2,153	2.59
Trading account assets		133,459		3,335	5.01			126,017		2,657	4.23
Securities		235,793		6,205	5.27			215,940		5,385	4.99
Loans and leases⁽¹⁾:
Residential mortgage		191,046		5,255	5.51			172,639		4,699	5.45
Credit card - domestic		66,566		4,348	13.17			51,895		2,854	11.09
Credit card - foreign		8,354		556	13.41			-		-	-
Home equity lines		65,698		2,343	7.19			53,219		1,491	5.65
Direct/Indirect consumer		55,875		2,043	7.35			42,380		1,184	5.63
Other consumer⁽²⁾		10,581		566	10.77			7,136		315	8.86

Total consumer		398,120		15,111	7.63			327,269		10,543	6.48

Commercial - domestic		146,580		5,185	7.13			123,865		3,892	6.34
Commercial real estate		36,713		1,312	7.20			33,252		907	5.50
Commercial lease financing		20,705		509	4.91			20,594		512	4.97
Commercial - foreign		23,745		883	7.50			17,676		564	6.44

Total commercial		227,743		7,889	6.98			195,387		5,875	6.06

Total loans and leases		625,863		23,000	7.40			522,656		16,418	6.32

Other earning assets		49,289		1,526	6.23			36,335		967	5.36

Total earning assets⁽³⁾		1,236,848		37,982	6.17			1,081,908		27,794	5.16

Cash and cash equivalents		34,964						33,065
Other assets, less allowance for loan and lease losses		164,486						124,407

Total assets	$	1,436,298					$	1,239,380

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,616	$	152	0.86	%	$	37,525	$	87	0.47	%
NOW and money market deposit accounts		224,384		1,904	1.71			231,271		1,375	1.20
Consumer CDs and IRAs		138,256		2,570	3.75			123,101		1,969	3.23
Negotiable CDs, public funds and other time deposits		10,790		193	3.60			9,014		176	3.94

Total domestic interest-bearing deposits		409,046		4,819	2.38			400,911		3,607	1.81

Foreign interest-bearing deposits⁽⁴⁾:
Banks located in foreign countries		31,292		913	5.88			23,824		554	4.69
Governments and official institutions		11,823		262	4.47			7,387		102	2.79
Time, savings and other		36,163		521	2.91			30,873		282	1.84

Total foreign interest-bearing deposits		79,278		1,696	4.32			62,084		938	3.05

Total interest-bearing deposits		488,324		6,515	2.69			462,995		4,545	1.98

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings		404,339		9,151	4.56			300,331		4,570	3.07
Trading account liabilities		56,889		1,113	3.94			52,792		1,038	3.97
Long-term debt		121,343		3,237	5.34			96,434		2,107	4.37

Total interest-bearing liabilities⁽³⁾		1,070,895		20,016	3.76			912,552		12,260	2.71

Noninterest-bearing sources:
Noninterest-bearing deposits		179,026						171,048
Other liabilities		57,124						56,666
Shareholders’ equity		129,253						99,114

Total liabilities and shareholders’ equity	$	1,436,298					$	1,239,380

Net interest spread					2.41						2.45
Impact of noninterest-bearing sources					0.50						0.43

Net interest income/yield on earning assets			$	17,966	2.91	%			$	15,534	2.88	%

(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 $3,005 million and $3,287 million; foreign consumer of $7,564 million and $3,519 million; and consumer lease financing of $12 million and $330 million for the six months ended June 30, 2006 and 2005.

(3)

Interest income includes the impact of interest rate risk management contracts, which increased(decreased) interest income on the underlying assets ($46) million and $589 million in the six months ended June 30, 2006 and 2005. Interest expense includes the impact of interest rate risk management contracts, which increased interest expense on the underlying liabilities $223 million and $807 million in the six months ended June 30, 2006 and 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

Year-to-Date Average Balances and Interest Rates - Fully Taxable-equivalent Basis - Isolating Derivative Hedge Income/Expense⁽¹⁾

(Dollars in millions)


	Six Months Ended June 30
	2006							2005
	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⁾	$	15,525	$	323		4.20	%	$	14,010	$	215		3.10	%
Federal funds sold and securities purchased under agreements to resell⁽²⁾		176,919		3,814		4.33			166,950		2,119		2.55
Trading account assets		133,459		3,335		5.01			126,017		2,657		4.23
Securities⁽²⁾		235,793		6,207		5.27			215,940		5,392		5.00
Loans and leases⁽³⁾:
Residential mortgage⁽²⁾		191,046		5,255		5.51			172,639		4,677		5.43
Credit card - domestic		66,566		4,348		13.17			51,895		2,854		11.09
Credit card - foreign		8,354		556		13.41			—		—		—
Home equity lines		65,698		2,343		7.19			53,219		1,491		5.65
Direct/Indirect consumer		55,875		2,043		7.35			42,380		1,184		5.63
Other consumer⁽⁴⁾		10,581		566		10.77			7,136		315		8.86

Total consumer		398,120		15,111		7.63			327,269		10,521		6.46

Commercial - domestic⁽²⁾		146,580		4,998		6.87			123,865		3,259		5.31
Commercial real estate		36,713		1,312		7.20			33,252		907		5.50
Commercial lease financing		20,705		509		4.91			20,594		512		4.97
Commercial - foreign⁽²⁾		23,745		881		7.48			17,676		562		6.41

Total commercial		227,743		7,700		6.81			195,387		5,240		5.40

Total loans and leases		625,863		22,811		7.33			522,656		15,761		6.07

Other earning assets⁽²⁾		49,289		1,538		6.28			36,335		1,061		5.88

Total earning assets - excluding hedge impact		1,236,848		38,028		6.18			1,081,908		27,205		5.05

Net derivative income (expense) on assets				(46	)						589

Total earning assets - including hedge impact		1,236,848		37,982		6.17			1,081,908		27,794		5.16

Cash and cash equivalents		34,964							33,065
Other assets, less allowance for loan and lease losses		164,486							124,407

Total assets	$	1,436,298						$	1,239,380

Interest-bearing liabilities
Domestic interest-bearing deposits:
Savings	$	35,616	$	152		0.86	%	$	37,525	$	87		0.47	%
NOW and money market deposit accounts⁽²⁾		224,384		1,901		1.73			231,271		1,357		1.20
Consumer CDs and IRAs⁽²⁾		138,256		2,252		3.28			123,101		1,435		2.35
Negotiable CDs, public funds and other time deposits⁽²⁾		10,790		189		3.53			9,014		128		2.87

Total domestic interest-bearing deposits		409,046		4,494		2.23			400,911		3,007		1.52

Foreign interest-bearing deposits⁽⁵⁾:
Banks located in foreign countries⁽²⁾		31,292		879		5.66			23,824		470		3.97
Governments and official institutions		11,823		262		4.47			7,387		102		2.79
Time, savings and other		36,163		521		2.91			30,873		282		1.84

Total foreign interest-bearing deposits		79,278		1,662		4.23			62,084		854		2.77

Total interest-bearing deposits		488,324		6,156		2.55			462,995		3,861		1.69

Federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings⁽²⁾		404,339		9,396		4.68			300,331		4,316		2.90
Trading account liabilities		56,889		1,113		3.94			52,792		1,038		3.97
Long-term debt⁽²⁾		121,343		3,128		5.16			96,434		2,238		4.64

Total interest-bearing liabilities - excluding hedge impact		1,070,895		19,793		3.73			912,552		11,453		2.53

Net derivative (income) expense on liabilities				223							807

Total interest-bearing liabilities - including hedge impact		1,070,895		20,016		3.76			912,552		12,260		2.71

Noninterest-bearing sources:
Noninterest-bearing deposits		179,026							171,048
Other liabilities		57,124							56,666
Shareholders' equity		129,253							99,114

Total liabilities and shareholders’ equity	$	1,436,298						$	1,239,380

Net interest spread						2.45							2.52
Impact of noninterest-bearing sources						0.50							0.40

Net interest income/yield on earning assets - excluding hedge impact				18,235		2.95	%				15,752		2.92	%

Net impact of derivative hedge income/(expense)				(269	)	(0.04	)				(218	)	(0.04	)

Net interest income/yield on earning assets			$	17,966		2.91	%			$	15,534		2.88	%

(1)

(2)

Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $3 million, consumer CDs and IRAs $318 million, negotiable CDs, public funds and other time deposits $4 million, banks located in foreign countries $34 million, federal funds purchased, securities sold under agreements to repurchase and other short-term borrowings $(245) million and long-term debt $109 million for the six months ended June 30, 2006.

Interest expense excludes the impact of interest rate risk management contracts which increased(decreased) interest expense on NOW and money market deposit accounts $18 million, consumer CDs and IRAs $534 million, negotiable CDs, public funds and other time deposits $48 million, banks located in foreign countries $84 million, federal funds purchased, securities sold under agreements to repurchase and other short term borrowings $254 million and long-term debt $(131) million for the six months ended June 30, 2005.

(4)

(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

LOGO

*Fully

taxable-equivalent basis

Bank of America Corporation

Global Consumer and Small Business Banking Segment Results⁽¹⁾

(Dollars in millions; except as noted)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Net interest income⁽²⁾	$	10,577		$	8,317		$	5,199		$	5,378		$	4,343		$	4,238		$	4,095
Noninterest income
Service charges		2,539			2,348			1,349			1,190			1,261			1,386			1,244
Mortgage banking income		415			511			210			205			271			230			237
Card income		6,721			2,416			3,462			3,259			1,325			1,344			1,272
All other income		399			170			259			140			95			68			55

Total noninterest income		10,074			5,445			5,280			4,794			2,952			3,028			2,808

Total revenue⁽²⁾		20,651			13,762			10,479			10,172			7,295			7,266			6,903

Provision for credit losses		2,276			1,866			1,029			1,247			1,299			1,107			1,155
Gains (losses) on sales of debt securities		(1	)		(1	)		—			(1	)		(1	)		(1	)		—
Noninterest expense		9,227			6,584			4,546			4,681			3,286			3,255			3,347

Income before income taxes		9,147			5,311			4,904			4,243			2,709			2,903			2,401
Income tax expense		3,372			1,895			1,799			1,573			965			1,061			867

Net income	$	5,775		$	3,416		$	3,105		$	2,670		$	1,744		$	1,842		$	1,534

Shareholder value added	$	3,023		$	2,120		$	1,750		$	1,273		$	1,004		$	1,177		$	876
Net interest yield⁽²⁾		7.27	%		5.61	%		7.09	%		7.45	%		5.78	%		5.61	%		5.54	%
Return on average equity		18.10			23.81			19.69			16.55			21.99			25.23			21.17
Efficiency ratio⁽²⁾		44.68			47.84			43.37			46.03			45.03			44.80			48.47

Balance Sheet
Average
Total loans and leases	$	187,108		$	140,508		$	187,607		$	186,604		$	149,251		$	145,726		$	141,353
Total earning assets ⁽³⁾		293,387			298,977			293,945			292,823			297,894			299,770			296,662
Total assets ⁽³⁾		356,329			326,298			356,564			356,092			325,511			326,869			323,021
Total deposits		332,144			303,582			333,999			330,269			306,616			310,530			306,521
Common equity/Allocated equity		64,333			28,935			63,243			65,435			31,464			28,968			29,078

Period End
Total loans and leases	$	189,214		$	143,085		$	189,214		$	183,836		$	151,657		$	147,714		$	143,085
Total earning assets ⁽³⁾		291,965			299,409			291,965			301,936			302,619			299,378			299,409
Total assets ⁽³⁾		357,349			324,705			357,349			364,486			331,259			326,926			324,705
Total deposits		336,841			307,388			336,841			340,463			306,101			313,059			307,388

Period End (in billions)
Mortgage servicing portfolio	$	313.0		$	280.1		$	313.0		$	302.4		$	296.8		$	288.5		$	280.1

(1)

Global Consumer and Small Business Banking has four primary businesses: Deposits, Card Services, Mortgage, and Home Equity. In addition, ALM/Other includes the results of ALM activities and other consumer-related businesses (e.g. insurance).

(2)

Fully taxable-equivalent basis

(3)

Total earning assets and Total Assets include excess earning asset allocations.

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 Business Results – Purchase View


(Dollars in millions)
	Three Months Ended June 30, 2006
	Total			Deposits ⁽¹⁾			Card Services ⁽²⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽³⁾	$	5,199		$	2,465		$	2,155		$	149		$	343		$	87
Noninterest income
Service charges		1,349			1,349			—			—			—			—
Mortgage banking income		210			—			—			187			23			—
Card income		3,462			474			2,988			—			—			—
All other income		259			—			323			8			—			(72	)

Total noninterest income		5,280			1,823			3,311			195			23			(72	)

Total revenue⁽³⁾		10,479			4,288			5,466			344			366			15

Provision for credit losses		1,029			30			956			5			10			28
Noninterest expense		4,546			2,162			1,906			235			154			89

Income before income taxes		4,904			2,096			2,604			104			202			(102	)
Income tax expense		1,799			769			955			38			74			(37	)

Net income	$	3,105		$	1,327		$	1,649		$	66		$	128		$	(65	)

Shareholder value added	$	1,750		$	996		$	701		$	15		$	90		$	(52	)
Net interest yield⁽³⁾		7.09	%		2.94	%		8.99	%		1.78	%		2.50	%		n/m
Return on average equity		19.69			34.91			14.62			14.41			36.59			n/m
Efficiency ratio⁽³⁾		43.37			50.42			34.87			68.38			41.90			n/m
Period end - total assets⁽⁴⁾	$	357,349		$	352,058		$	137,517		$	36,598		$	56,713			n/m

	Three Months Ended June 30, 2005
	Total			Deposits ⁽¹⁾			Card Services ⁽²⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽³⁾	$	4,095		$	2,050		$	1,209		$	188		$	321		$	327
Noninterest income
Service charges		1,244			1,244			—			—			—			—
Mortgage banking income		237			—			—			217			20			—
Card income		1,272			394			878			—			—			—
All other income		55			—			(6	)		6			—			55

Total noninterest income		2,808			1,638			872			223			20			55

Total revenue⁽³⁾		6,903			3,688			2,081			411			341			382

Provision for credit losses		1,155			19			1,099			2			10			25
Noninterest expense		3,347			2,069			768			257			161			92

Income before income taxes		2,401			1,600			214			152			170			265
Income tax expense		867			578			77			55			62			95

Net income	$	1,534		$	1,022		$	137		$	97		$	108		$	170

Shareholder value added	$	876		$	696		$	(112	)	$	53		$	79		$	160
Net interest yield⁽³⁾		5.54	%		2.66	%		8.89	%		2.03	%		2.76	%		n/m
Return on average equity		21.17			27.42			4.97			24.00			39.44			n/m
Efficiency ratio⁽³⁾		48.47			56.11			36.89			62.58			47.21			n/m
Period end - total assets⁽⁴⁾	$	324,705		$	322,295		$	60,605		$	42,847		$	47,934			n/m

(1)

Reflects Premier Banking and Investments migration which decreased average deposits $49.3 billion and $39.1 billion for the three months ended June 30, 2006 and 2005.

(2)

Card Services presented on a held view

(3)

Fully taxable-equivalent basis

(4)

Total Assets include excess earning asset allocations.

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 Business Results - Purchase View

(Dollars in millions)


	Six Months Ended June 30, 2006
	Total			Deposits⁽¹⁾			Card Services⁽²⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽³⁾	$	10,577		$	4,816		$	4,344		$	295		$	678		$	444
Noninterest income
Service charges		2,539			2,539			—			—			—			—
Mortgage banking income		415			—			—			375			40			—
Card income		6,721			905			5,816			—			—			—
All other income		399			—			572			21			—			(194	)

Total noninterest income		10,074			3,444			6,388			396			40			(194	)

Total revenue⁽³⁾		20,651			8,260			10,732			691			718			250

Provision for credit losses		2,276			58			2,110			9			20			79
Gains (losses) on sales of debt securities		(1	)		—			—			—			—			(1	)
Noninterest expense		9,227			4,363			3,917			463			307			177

Income before income taxes		9,147			3,839			4,705			219			391			(7	)
Income tax expense		3,372			1,415			1,734			81			144			(2	)

Net income	$	5,775		$	2,424		$	2,971		$	138		$	247		$	(5	)

Shareholder value added	$	3,023		$	1,774		$	1,102		$	37		$	176		$	(66	)
Net interest yield⁽³⁾		7.27	%		2.90	%		9.03	%		1.76	%		2.53	%		n/m
Return on average equity		18.10			32.39			13.33			14.88			38.43			n/m
Efficiency ratio⁽³⁾		44.68			52.82			36.50			67.05			42.77			n/m
Period end - total assets ⁽⁴⁾	$	357,349		$	352,058		$	137,517		$	36,598		$	56,713			n/m

	Six Months Ended June 30, 2005
	Total			Deposits⁽¹⁾			Card Services⁽²⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽³⁾	$	8,317		$	4,020		$	2,365		$	380		$	625		$	927
Noninterest income
Service charges		2,348			2,348			—			—			—			—
Mortgage banking income		511			—			—			472			39			—
Card income		2,416			736			1,680			—			—			—
All other income		170			—			47			9			—			114

Total noninterest income		5,445			3,084			1,727			481			39			114

Total revenue⁽³⁾		13,762			7,104			4,092			861			664			1,041

Provision for credit losses		1,866			12			1,798			7			18			31
Gains (losses) on sales of debt securities		(1	)		—			—			—			—			(1	)
Noninterest expense		6,584			4,000			1,525			533			343			183

Income before income taxes		5,311			3,092			769			321			303			826
Income tax expense		1,895			1,105			273			115			108			294

Net income	$	3,416		$	1,987		$	496		$	206		$	195		$	532

Shareholder value added	$	2,120		$	1,338		$	13		$	118		$	136		$	515
Net interest yield⁽³⁾		5.61	%		2.65	%		8.85	%		2.07	%		2.76	%		n/m
Return on average equity		23.81			26.70			9.20			25.37			36.35			n/m
Efficiency ratio⁽³⁾		47.84			56.31			37.28			61.91			51.66			n/m
Period end - total assets⁽⁴⁾	$	324,705		$	322,295		$	60,605		$	42,847		$	47,934			n/m

(1)

Reflects Premier Banking and Investments migration which decreased average deposits $47.9 billion and $36.2 billion for the six months ended June 30, 2006 and 2005.

(2)

Card Services presented on a held view

(3)

Fully taxable-equivalent basis

(4)

Total Assets include excess earning asset allocations.

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 Business Results - Pro Forma View⁽¹⁾

(Dollars in millions)


	Three Months Ended June 30, 2005
	Total			Deposits⁽²⁾			Card Services⁽³⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽⁴⁾	$	4,877		$	2,086		$	1,916		$	188		$	321		$	366
Noninterest income
Service charges		1,244			1,244			—			—			—			—
Mortgage banking income		250			—			—			230			20			—
Card income		3,108			394			2,714			—			—			—
All other income		78			—			17			6			—			55

Total noninterest income		4,680			1,638			2,731			236			20			55

Total revenue⁽⁴⁾		9,557			3,724			4,647			424			341			421

Provision for credit losses		1,344			19			1,288			2			10			25
Gains (losses) on sales of debt securities		—			—			—			—			—			—
Noninterest expense		4,792			2,069			2,213			257			161			92

Income before income taxes		3,421			1,636			1,146			165			170			304
Income tax expense		1,236			591			414			60			62			109

Net income	$	2,185		$	1,045		$	732		$	105		$	108		$	195

Shareholder value added	$	964		$	728		$	(90	)	$	62		$	79		$	185
Net interest yield⁽⁴⁾		6.03			2.49	%		8.61	%		2.03	%		2.71	%		n/m
Return on average equity		14.93			28.03			7.21			26.06			39.44			n/m
Efficiency ratio⁽⁴⁾		50.14			55.57			47.63			60.66			47.21			n/m
Period end - total assets⁽⁵⁾	$	393,467		$	348,844		$	138,126		$	43,133		$	47,934			n/m

	Six Months Ended June 30, 2005
	Total			Deposits⁽²⁾			Card Services⁽³⁾			Mortgage			Home Equity			ALM/ Other
Net interest income⁽⁴⁾	$	9,889		$	4,097		$	3,752		$	380		$	625		$	1,035
Noninterest income
Service charges		2,348			2,348			—			—			—			—
Mortgage banking income		532			—			—			493			39			—
Card income		5,954			736			5,218			—			—			—
All other income		215			—			93			9			—			113

Total noninterest income		9,049			3,084			5,311			502			39			113

Total revenue⁽⁴⁾		18,938			7,181			9,063			882			664			1,148

Provision for credit losses		2,356			12			2,288			7			18			31
Gains (losses) on sales of debt securities		(1	)		—			—			—			—			(1	)
Noninterest expense		9,415			4,000			4,356			533			343			183

Income before income taxes		7,166			3,169			2,419			342			303			933
Income tax expense		2,558			1,132			864			122			108			332

Net income	$	4,608		$	2,037		$	1,555		$	220		$	195		$	601

Shareholder value added	$	2,183		$	1,406		$	(74	)	$	132		$	136		$	583
Net interest yield⁽⁴⁾		6.10	%		2.48	%		8.49	%		2.07	%		2.72	%		n/m
Return on average equity		15.82			27.35			7.71			27.01			36.35			n/m
Efficiency ratio⁽⁴⁾		49.71			55.70			48.07			60.45			51.66			n/m
Period end - total assets⁽⁵⁾	$	393,467		$	348,844		$	138,126		$	43,133		$	47,934			n/m

(1)

Pro Forma View includes the results of MBNA for periods prior to the merger on 1/1/06. This information is being provided for reference purposes and was previously included in the Corporation’s Form 8-K filed April 10, 2006 containing Unaudited Pro Forma Condensed Combined Financial Information. Certain amounts have been reclassified to conform to current presentation. Reference should be made to the Form 8-K filed April 10, 2006 and to the Form 8-K filed May 25, 2006, which included the Consolidated Financial Statements of the Corporation.

(2)

Reflects Premier Banking and Investments migration which decreased average deposits $39.1 billion and $36.2 billion for the three and six months ended June 30, 2005.

(3)

Card Services presented on a held view

(4)

Fully taxable-equivalent basis

(5)

Total Assets include excess earning asset allocations.

n/m

= not meaningful

Bank of America Corporation

Global Consumer and Small Business Banking - Key Indicators


(Dollars in millions; except as noted)
	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Deposits Key Indicators
Average Deposit Balances
Checking	$	127,058		$	121,424		$	127,754		$	126,355		$	125,515		$	124,424		$	123,051
Savings		32,280			31,984			32,453			32,104			31,898			32,016			32,466
MMS		75,219			68,703			73,532			76,925			71,941			68,848			67,667
CD’s & IRA’s		86,899			74,452			88,932			84,842			69,382			76,790			75,732
Foreign and Other		10,688			7,019			11,328			10,043			7,880			8,452			7,605

Total	$	332,144		$	303,582		$	333,999		$	330,269		$	306,616		$	310,530		$	306,521

Average Cumulative Balances migrated to Premier Banking and Investments	$	47,922		$	36,225		$	49,253		$	46,576		$	45,323		$	42,448		$	39,126

Deposit Spreads (excludes noninterest costs)
Checking		4.20	%		4.19	%		4.21	%		4.18	%		4.16	%		4.18	%		4.14	%
Savings		3.37			4.19			3.38			3.36			3.53			3.78			4.02
MMS		2.64			1.53			2.75			2.53			2.69			2.02			1.64
CD’s & IRA’s		1.23			0.73			1.25			1.21			1.19			0.90			0.80
Foreign and Other		3.87			3.60			4.05			3.67			4.19			3.88			3.67
Total		2.96			2.71			3.00			2.92			3.06			2.82			2.72
Net New Checking (units in thousands)		1,304			1,240			701			603			426			635			629
Debit Purchase Volumes		81,307			66,279			42,689			38,618			39,623			36,008			35,049

Online Banking (End of Period)
Active Accounts (units in thousands)		19,806			13,574			19,806			19,643			14,698			14,338			13,514
Active Billpay Accounts (units in thousands)		10,410			6,529			10,410			10,088			7,281			6,987			6,529

Credit Key Indicators
Managed Card - US Consumer and Business Card
Gross Interest Yield		12.55	%		11.40	%		12.54	%		12.56	%		12.17	%		11.92	%		11.56	%
Risk Adjusted Margin⁽¹⁾		9.94			7.77			9.49			10.39			4.37			8.44			7.82
Loss Rates		3.32			6.16			3.56			3.08			9.35			5.70			6.17
Average Outstandings (in millions)	$	144,788		$	60,102		$	144,198		$	145,384		$	62,340		$	61,901		$	60,395
New Account Growth (in thousands)		4,473			2,918			2,375			2,099			929			1,466			1,574
Purchase Volumes (in millions)		111,818			43,402			59,047			52,771			26,057			24,431			23,081
Delinquencies
30 Day		4.71	%		4.23	%		4.71	%		4.47	%		4.13	%		4.55	%		4.23	%
60 Day		3.23			2.87			3.23			3.01			2.89			3.17			2.87
12 month Lag Loss Rate		n/a			6.84			n/a			n/a			10.05			6.32			6.91

Mortgage
Mortgage Originations (in millions)	$	40,590		$	38,605		$	23,378		$	17,262		$	20,662		$	27,511		$	21,135
Mortgage Servicing Rights
Period End Balance (in millions)		3,083			2,233			3,083			2,925			2,658			2,623			2,233
Capitalized Mortgage Servicing Rights (% of loans serviced)		139	bps		108	bps		139	bps		132	bps		122	bps		124	bps		108	bps
Mortgage Loans Serviced for Investors (in billions)	$	221		$	207		$	221		$	221		$	218		$	212		$	207
Home Equity Originations (in millions)		39,703			34,514			21,141			18,562			19,578			17,887			19,445

(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 19.8 million subscribers.

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

10.4 million active bill pay users paid $46.4 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 350 companies are presenting 20.6 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)


	Year-to-Date						Second Quarter 2006(1)			First Quarter 2006(1)			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	June 30
Key Measures - Card Services Data	2006(1)			2005
Managed Income Statement
Held total revenue	$	10,732		$	4,092		$	5,466		$	5,266		$	2,245		$	2,249		$	2,081
Securitizations impact		1,432			280			778			654			63			92			135

Managed total revenue	$	12,164		$	4,372		$	6,244		$	5,920		$	2,308		$	2,341		$	2,216

% of average managed outstandings		13.1	%		14.7	%		13.3	%		12.9	%		14.7	%		15.0	%		14.7	%

Held provision for credit losses	$	2,110		$	1,798		$	956		$	1,154		$	1,191		$	1,010		$	1,099
Securitizations impact		1,432			280			778			654			63			92			135

Managed provision for credit losses	$	3,542		$	2,078		$	1,734		$	1,808		$	1,254		$	1,102		$	1,234

% of average managed outstandings		3.8	%		7.0	%		3.7	%		3.9	%		8.0	%		7.1	%		8.2	%

Held noninterest expense	$	3,917		$	1,525		$	1,906		$	2,011		$	711		$	732		$	768
Securitizations impact		—			—			—			—			—			—			—

Managed noninterest expense	$	3,917		$	1,525		$	1,906		$	2,011		$	711		$	732		$	768

% of average managed outstandings		4.2	%		5.1	%		4.1	%		4.4	%		4.5	%		4.7	%		5.1	%

Held income before income taxes	$	4,705		$	769		$	2,604		$	2,101		$	343		$	507		$	214
Securitizations impact		—			—			—			—			—			—			—

Managed income before income taxes	$	4,705		$	769		$	2,604		$	2,101		$	343		$	507		$	214

% of average managed outstandings		5.1	%		2.6	%		5.6	%		4.6	%		2.2	%		3.2	%		1.4	%

Shareholder Value Added - Managed	$	1,071		$	7		$	686		$	385		$	(54	)	$	54		$	(117	)

Merchant Acquiring Business:
Processing volume	$	185,553		$	160,016		$	97,229		$	88,324		$	101,601		$	91,321		$	84,262
Total transactions		3,956			3,452			2,069			1,887			2,058			1,906			1,832

(1)

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

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)


	Year-to-Date June 30						Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
Key Measures - Card Services Data	2006			2005			2006			2006			2005			2005			2005
Loans
Period End:
On-balance sheet	$	93,217		$	55,948		$	93,217		$	90,533		$	61,397		$	58,427		$	55,948
Securitizations impact		96,848			5,420			96,848			94,359			2,239			3,622			5,420

Managed	$	190,065		$	61,368		$	190,065		$	184,892		$	63,636		$	62,049		$	61,368

Average:
On-balance sheet	$	93,510		$	53,659		$	93,115		$	93,910		$	59,479		$	57,414		$	54,337
Securitizations impact		93,870			6,447			94,952			92,776			2,865			4,491			6,063

Managed	$	187,380		$	60,106		$	188,067		$	186,686		$	62,344		$	61,905		$	60,400

Credit Quality
Charge-Offs $:
Held net charge-offs	$	1,582		$	1,555		$	904		$	678		$	1,406		$	798		$	794
Securitizations impact		1,432			280			778			654			63			92			135

Managed card services net losses	$	3,014		$	1,835		$	1,682		$	1,332		$	1,469		$	890		$	929

Charge-Offs %:
Held net charge-offs		3.41	%		5.84	%		3.89	%		2.93	%		9.38	%		5.51	%		5.86	%
Securitizations impact		(0.17	)		0.32			(0.30	)		(0.04	)		(0.03	)		0.19			0.31

Managed card services net losses		3.24	%		6.16	%		3.59	%		2.89	%		9.35	%		5.70	%		6.17	%

30+ Delinquency $:
Held delinquency	$	4,528		$	2,284		$	4,528		$	3,834		$	2,585		$	2,574		$	2,284
Securitizations impact		4,141			313			4,141			4,241			42			246			313

Managed delinquency	$	8,669		$	2,597		$	8,669		$	8,075		$	2,627		$	2,820		$	2,597

30+ Delinquency %:
Held delinquency		4.86	%		4.08	%		4.86	%		4.23	%		4.21	%		4.41	%		4.08	%
Securitizations impact		(0.30	)		0.15			(0.30	)		0.14			(0.08	)		0.13			0.15

Managed delinquency		4.56	%		4.23	%		4.56	%		4.37	%		4.13	%		4.54	%		4.23	%

90+ Delinquency $:
Held delinquency	$	2,208		$	1,043		$	2,208		$	1,752		$	1,232		$	1,208		$	1,043
Securitizations impact		1,980			149			1,980			1,926			20			121			149

Managed delinquency	$	4,188		$	1,192		$	4,188		$	3,678		$	1,252		$	1,329		$	1,192

90+ Delinquency %:
Held delinquency		2.37	%		1.86	%		2.37	%		1.94	%		2.01	%		2.07	%		1.86	%
Securitizations impact		(0.17	)		0.08			(0.17	)		0.05			(0.04	)		0.07			0.08

Managed delinquency		2.20	%		1.94	%		2.20	%		1.99	%		1.97	%		2.14	%		1.94	%

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)
	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Key Measures - Credit Card Data	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Loans
Period End:
On-balance sheet	$	71,566		$	53,863		$	71,566		$	72,279		$	58,548		$	56,079		$	53,863
Securitizations impact		90,565			5,420			90,565			87,154			2,239			3,622			5,420

Managed	$	162,131		$	59,283		$	162,131		$	159,433		$	60,787		$	59,701		$	59,283

Average:
On-balance sheet	$	74,919		$	51,895		$	73,285		$	76,572		$	56,858		$	55,271		$	52,474
Securitizations impact		86,806			6,447			88,032			85,566			2,865			4,491			6,063

Managed	$	161,725		$	58,342		$	161,317		$	162,138		$	59,723		$	59,762		$	58,537

Credit Quality
Charge-Offs $:
Held net charge-offs	$	1,433		$	1,514		$	780		$	653		$	1,366		$	772		$	774
Securitizations impact		1,287			280			694			593			63			92			135

Managed credit card net losses	$	2,720		$	1,794		$	1,474		$	1,246		$	1,429		$	864		$	909

Charge-Offs %:
Held net charge-offs		3.86	%		5.88	%		4.27	%		3.46	%		9.53	%		5.54	%		5.92	%
Securitizations impact		(0.47	)		0.32			(0.60	)		(0.34	)		(0.04	)		0.20			0.31

Managed credit card net losses		3.39	%		6.20	%		3.67	%		3.12	%		9.49	%		5.74	%		6.23	%

30+ Delinquency $:
Held delinquency	$	3,874		$	2,204		$	3,874		$	3,306		$	2,496		$	2,497		$	2,204
Securitizations impact		3,831			313			3,831			3,924			42			246			313

Managed delinquency	$	7,705		$	2,517		$	7,705		$	7,230		$	2,538		$	2,743		$	2,517

30+ Delinquency %:
Held delinquency		5.41	%		4.09	%		5.41	%		4.57	%		4.26	%		4.45	%		4.09	%
Securitizations impact		(0.66	)		0.16			(0.66	)		(0.03	)		(0.08	)		0.14			0.16

Managed delinquency		4.75	%		4.25	%		4.75	%		4.54	%		4.18	%		4.59	%		4.25	%

90+ Delinquency $:
Held delinquency	$	1,919		$	1,011		$	1,919		$	1,540		$	1,198		$	1,175		$	1,011
Securitizations impact		1,826			149			1,826			1,767			20			121			149

Managed delinquency	$	3,745		$	1,160		$	3,745		$	3,307		$	1,218		$	1,296		$	1,160

90+ Delinquency %:
Held delinquency		2.68	%		1.88	%		2.68	%		2.13	%		2.05	%		2.09	%		1.88	%
Securitizations impact		(0.37	)		0.08			(0.37	)		(0.06	)		(0.05	)		0.08			0.08

Managed delinquency		2.31	%		1.96	%		2.31	%		2.07	%		2.00	%		2.17	%		1.96	%

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

Bank of America Corporation

Card Services Results - Pro Forma View⁽¹⁾


(Dollars in millions)
	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Key Measures - Card Services Data	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Managed Income Statement
Held total revenue	$	10,732		$	9,063		$	5,466		$	5,266		$	4,762		$	4,992		$	4,647
Securitizations impact		1,432			2,354			778			654			1,493			1,093			1,204

Managed total revenue	$	12,164		$	11,417		$	6,244		$	5,920		$	6,255		$	6,085		$	5,851

% of average managed outstandings		13.1	%		13.1	%		13.3	%		12.9	%		13.4	%		13.4	%		13.4	%

Held provision for credit losses	$	2,110		$	2,288		$	956		$	1,154		$	1,422		$	1,290		$	1,288
Securitizations impact		1,432			2,354			778			654			1,493			1,093			1,204

Managed provision for credit losses	$	3,542		$	4,642		$	1,734		$	1,808		$	2,915		$	2,383		$	2,492

% of average managed outstandings		3.8	%		5.3	%		3.7	%		3.9	%		6.3	%		5.3	%		5.7	%

Held noninterest expense	$	3,917		$	4,356		$	1,906		$	2,011		$	2,362		$	2,138		$	2,213
Securitizations impact		—			—			—			—			—			—			—

Managed noninterest expense	$	3,917		$	4,356		$	1,906		$	2,011		$	2,362		$	2,138		$	2,213

% of average managed outstandings		4.2	%		5.0	%		4.1	%		4.4	%		5.1	%		4.7	%		5.1	%

Held income before income taxes	$	4,705		$	2,419		$	2,604		$	2,101		$	978		$	1,563		$	1,146
Securitizations impact		—			—			—			—			—			—			—

Managed income before income taxes	$	4,705		$	2,419		$	2,604		$	2,101		$	978		$	1,563		$	1,146

% of average managed outstandings		5.1	%		2.8	%		5.6	%		4.6	%		2.1	%		3.5	%		2.6	%

Shareholder Value Added - Managed	$	1,071		$	(114	)	$	686		$	385		$	(245	)	$	121		$	(111	)

Merchant Acquiring Business:
Processing volume	$	185,553		$	160,016		$	97,229		$	88,324		$	101,601		$	91,321		$	84,262
Total transactions		3,956			3,452			2,069			1,887			2,058			1,906			1,832

(1)

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

Bank of America Corporation

Card Services Results - Pro Forma View continued

(Dollars in millions)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Key Measures - Card Services Data	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Loans
Period End:
On-balance sheet	$	93,217		$	85,922		$	93,217		$	90,533		$	96,756		$	91,727		$	85,922
Securitizations impact		96,848			90,341			96,848			94,359			92,206			90,621			90,341

Managed	$	190,065		$	176,263		$	190,065		$	184,892		$	188,962		$	182,348		$	176,263

Average:
On-balance sheet	$	93,510		$	82,801		$	93,115		$	93,910		$	93,216		$	90,068		$	83,012
Securitizations impact		93,870			92,643			94,952			92,776			91,784			89,517			91,893

Managed	$	187,380		$	175,444		$	188,067		$	186,686		$	185,000		$	179,585		$	174,905

Credit Quality:
Charge-Offs $:
Held net charge-offs	$	1,582		$	2,140		$	904		$	678		$	1,820		$	1,085		$	1,062
Securitizations impact		1,432			2,354			778			654			1,493			1,093			1,204

Managed card services net losses	$	3,014		$	4,494		$	1,682		$	1,332		$	3,313		$	2,178		$	2,266

Charge-Offs %:
Held net charge-offs		3.41	%		5.21	%		3.89	%		2.93	%		7.75	%		4.78	%		5.13	%
Securitizations impact		(0.17	)		(0.04	)		(0.30	)		(0.04	)		(0.65	)		0.03			0.07

Managed card services net losses		3.24	%		5.17	%		3.59	%		2.89	%		7.10	%		4.81	%		5.20	%

30+ Delinquency $:
Held delinquency	$	4,528		$	3,297		$	4,528		$	3,834		$	3,668		$	3,708		$	3,297
Securitizations impact		4,141			4,423			4,141			4,241			3,825			4,489			4,423

Managed delinquency	$	8,669		$	7,720		$	8,669		$	8,075		$	7,493		$	8,197		$	7,720

30+ Delinquency %:
Held delinquency		4.86	%		3.82	%		4.86	%		4.23	%		3.78	%		4.03	%		3.82	%
Securitizations impact		(0.30	)		0.55			(0.30	)		0.14			0.18			0.46			0.55

Managed delinquency		4.56	%		4.37	%		4.56	%		4.37	%		3.96	%		4.49	%		4.37	%

90+ Delinquency $:
Held delinquency	$	2,208		$	1,479		$	2,208		$	1,752		$	1,692		$	1,692		$	1,479
Securitizations impact		1,980			2,084			1,980			1,926			1,777			2,093			2,084

Managed delinquency	$	4,188		$	3,563		$	4,188		$	3,678		$	3,469		$	3,785		$	3,563

90+ Delinquency %:
Held delinquency		2.37	%		1.71	%		2.37	%		1.94	%		1.74	%		1.84	%		1.71	%
Securitizations impact		(0.17	)		0.31			(0.17	)		0.05			0.09			0.23			0.31

Managed delinquency		2.20	%		2.02	%		2.20	%		1.99	%		1.83	%		2.07	%		2.02	%

Bank of America Corporation

Card Services Results - Pro Forma View continued

(Dollars in millions)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Key Measures - Credit Card Data	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Loans
Period End:
On-balance sheet	$	71,566		$	71,428		$	71,566		$	72,279		$	81,220		$	77,289		$	71,428
Securitizations impact		90,565			83,561			90,565			87,154			84,997			83,405			83,561

Managed	$	162,131		$	154,989		$	162,131		$	159,433		$	166,217		$	160,694		$	154,989

Average:
On-balance sheet	$	74,919		$	68,852		$	73,285		$	76,572		$	78,084		$	75,240		$	68,640
Securitizations impact		86,806			85,923			88,032			85,566			84,563			82,592			85,152

Managed	$	161,725		$	154,775		$	161,317		$	162,138		$	162,647		$	157,832		$	153,792

Credit Quality:
Charge-Offs $:
Held net charge-offs	$	1,433		$	1,826		$	780		$	653		$	1,569		$	928		$	911
Securitizations impact		1,287			2,118			694			593			1,312			979			1,083

Managed credit card net losses	$	2,720		$	3,944		$	1,474		$	1,246		$	2,881		$	1,907		$	1,994

Charge-Offs %:
Held net charge-offs		3.86	%		5.35	%		4.27	%		3.46	%		7.97	%		4.89	%		5.32	%
Securitizations impact		(0.47	)		(0.21	)		(0.60	)		(0.34	)		(0.94	)		(0.10	)		(0.12	)

Managed credit card net losses		3.39	%		5.14	%		3.67	%		3.12	%		7.03	%		4.79	%		5.20	%

30+ Delinquency $:
Held delinquency	$	3,874		$	2,830		$	3,874		$	3,306		$	3,204		$	3,225		$	2,830
Securitizations impact		3,831			4,094			3,831			3,924			3,543			4,135			4,094

Managed delinquency	$	7,705		$	6,924		$	7,705		$	7,230		$	6,747		$	7,360		$	6,924

30+ Delinquency %:
Held delinquency		5.41	%		3.94	%		5.41	%		4.57	%		3.93	%		4.15	%		3.94	%
Securitizations impact		(0.66	)		0.52			(0.66	)		(0.03	)		0.12			0.42			0.52

Managed delinquency		4.75	%		4.46	%		4.75	%		4.54	%		4.05	%		4.57	%		4.46	%

90+ Delinquency $:
Held delinquency	$	1,919		$	1,289		$	1,919		$	1,540		$	1,508		$	1,496		$	1,289
Securitizations impact		1,826			1,922			1,826			1,767			1,642			1,921			1,922

Managed delinquency	$	3,745		$	3,211		$	3,745		$	3,307		$	3,150		$	3,417		$	3,211

90+ Delinquency %:
Held delinquency		2.68	%		1.79	%		2.68	%		2.13	%		1.85	%		1.93	%		1.79	%
Securitizations impact		(0.37	)		0.28			(0.37	)		(0.06	)		0.04			0.19			0.28

Managed delinquency		2.31	%		2.07	%		2.31	%		2.07	%		1.89	%		2.12	%		2.07	%

Bank of America Corporation

Card Services Results - Reconciliation - Purchase to Pro Forma

(Dollars in millions)


Card Services Data	Fourth Quarter 2005						Third Quarter 2005
	Bank of America		Adjustments to include MBNA⁽¹⁾		Combined		Bank of America		Adjustments to include MBNA⁽¹⁾		Combined
Income Statement Data:
Held total revenue	$	2,245	$	2,517	$	4,762	$	2,249	$	2,743	$	4,992
Securitizations impact		63		1,430		1,493		92		1,001		1,093

Managed total revenue	$	2,308	$	3,947	$	6,255	$	2,341	$	3,744	$	6,085

Held provision for credit losses	$	1,191	$	231	$	1,422	$	1,010	$	280	$	1,290
Securitizations impact		63		1,430		1,493		92		1,001		1,093

Managed provision for credit losses	$	1,254	$	1,661	$	2,915	$	1,102	$	1,281	$	2,383

Held noninterest expense	$	711	$	1,651	$	2,362	$	732	$	1,406	$	2,138
Securitizations impact		—		—		—		—		—		—

Managed noninterest expense	$	711	$	1,651	$	2,362	$	732	$	1,406	$	2,138

Held income before income taxes	$	343	$	635	$	978	$	507	$	1,056	$	1,563
Securitizations impact		—		—		—		—		—		—

Managed income before income taxes	$	343	$	635	$	978	$	507	$	1,056	$	1,563


	Second Quarter 2005						Year-to-Date June 30, 2005
	Bank of America		Adjustments to include MBNA⁽¹⁾		Combined		Bank of America		Adjustments to include MBNA⁽¹⁾		Combined
Income Statement Data:
Held total revenue	$	2,081	$	2,566	$	4,647	$	4,092	$	4,971	$	9,063
Securitizations impact		135		1,069		1,204		280		2,074		2,354

Managed total revenue	$	2,216	$	3,635	$	5,851	$	4,372	$	7,045	$	11,417

Held provision for credit losses	$	1,099	$	189	$	1,288	$	1,798	$	490	$	2,288
Securitizations impact		135		1,069		1,204		280		2,074		2,354

Managed provision for credit losses	$	1,234	$	1,258	$	2,492	$	2,078	$	2,564	$	4,642

Held noninterest expense	$	768	$	1,445	$	2,213	$	1,525	$	2,831	$	4,356
Securitizations impact		—		—		—		—		—		—

Managed noninterest expense	$	768	$	1,445	$	2,213	$	1,525	$	2,831	$	4,356

Held income before income taxes	$	214	$	932	$	1,146	$	769	$	1,650	$	2,419
Securitizations impact		—		—		—		—		—		—

Managed income before income taxes	$	214	$	932	$	1,146	$	769	$	1,650	$	2,419

(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

Card Services Results - Reconciliation - Purchase to Pro Forma

(Dollars in millions)


Card Services Data	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:
Period End:
On-balance sheet	$	61,397	$	35,359	$	96,756	$	58,427	$	33,300	$	91,727
Securitizations impact		2,239		89,967		92,206		3,622		86,999		90,621

Managed	$	63,636	$	125,326	$	188,962	$	62,049	$	120,299	$	182,348

Average:
On-balance sheet	$	59,479	$	33,737	$	93,216	$	57,414	$	32,654	$	90,068
Securitizations impact		2,865		88,919		91,784		4,491		85,026		89,517

Managed	$	62,344	$	122,656	$	185,000	$	61,905	$	117,680	$	179,585


	Second Quarter 2005						Year-to-Date June 30, 2005
	Bank of America		Adjustments to include MBNA ⁽¹⁾		Combined		Bank of America		Adjustments to include MBNA ⁽¹⁾		Combined
Loans:
Period End:
On-balance sheet	$	55,948	$	29,974	$	85,922	$	55,948	$	29,974	$	85,922
Securitizations impact		5,420		84,921		90,341		5,420		84,921		90,341

Managed	$	61,368	$	114,895	$	176,263	$	61,368	$	114,895	$	176,263

Average:
On-balance sheet	$	54,337	$	28,675	$	83,012	$	53,659	$	29,142	$	82,801
Securitizations impact		6,063		85,830		91,893		6,447		86,196		92,643

Managed	$	60,400	$	114,505	$	174,905	$	60,106	$	115,338	$	175,444


Credit Card Data	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:
Period End:
On-balance sheet	$	58,548	$	22,672	$	81,220	$	56,079	$	21,210	$	77,289
Securitizations impact		2,239		82,758		84,997		3,622		79,783		83,405

Managed	$	60,787	$	105,430	$	166,217	$	59,701	$	100,993	$	160,694

Average:
On-balance sheet	$	56,858	$	21,226	$	78,084	$	55,271	$	19,969	$	75,240
Securitizations impact		2,865		81,698		84,563		4,491		78,101		82,592

Managed	$	59,723	$	102,924	$	162,647	$	59,762	$	98,070	$	157,832


	Second Quarter 2005						Year-to-Date June 30, 2005
	Bank of America		Adjustments to include MBNA ⁽¹⁾		Combined		Bank of America		Adjustments to include MBNA ⁽¹⁾		Combined
Loans:
Period End:
On-balance sheet	$	53,863	$	17,565	$	71,428	$	53,863	$	17,565	$	71,428
Securitizations impact		5,420		78,141		83,561		5,420		78,141		83,561

Managed	$	59,283	$	95,706	$	154,989	$	59,283	$	95,706	$	154,989

Average:
On-balance sheet	$	52,474	$	16,166	$	68,640	$	51,895	$	16,957	$	68,852
Securitizations impact		6,063		79,089		85,152		6,447		79,476		85,923

Managed	$	58,537	$	95,255	$	153,792	$	58,342	$	96,433	$	154,775

(1)

Bank of America Corporation

Global Corporate and Investment Banking Segment Results

(Dollars in millions)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Net interest income⁽¹⁾	$	5,427		$	5,638		$	2,713		$	2,714		$	2,771		$	2,747		$	2,783
Noninterest income
Service charges		1,390			1,306			703			687			641			671			655
Investment and brokerage services		550			509			278			272			271			267			262
Investment banking income		1,167			813			645			522			547			532			441
Trading account profits		1,880			892			872			1,008			307			571			232
All other income		863			1,196			506			357			421			499			535

Total noninterest income		5,850			4,716			3,004			2,846			2,187			2,540			2,125

Total revenue⁽¹⁾		11,277			10,354			5,717			5,560			4,958			5,287			4,908


Provision for credit losses		80			(399	)		41			39			97			12			(249	)
Gains (losses) on sales of debt securities		20			151			(3	)		23			95			17			121
Noninterest expense		5,987			5,310			2,956			3,031			2,967			2,855			2,603

Income before income taxes		5,230			5,594			2,717			2,513			1,989			2,437			2,675
Income tax expense		1,931			2,041			1,001			930			707			888			970

Net income	$	3,299		$	3,553		$	1,716		$	1,583		$	1,282		$	1,549		$	1,705


Shareholder value added	$	1,037		$	1,367		$	574		$	463		$	152		$	448		$	620
Net interest yield⁽¹⁾		1.82	%		2.14	%		1.77	%		1.87	%		1.92	%		1.92	%		1.99	%
Return on average equity		15.47			17.18			15.94			14.99			11.99			14.89			16.62
Efficiency ratio⁽¹⁾		53.09			51.29			51.71			54.51			59.84			53.99			53.02

Balance Sheet

Average
Total loans and leases	$	239,996		$	206,947		$	243,140		$	236,818		$	228,999		$	216,121		$	207,927
Total trading-related assets		325,223			305,650			332,688			317,675			317,970			328,713			332,432
Total earning assets⁽²⁾		600,154			532,051			613,246			586,916			571,099			566,674			562,134
Total assets⁽²⁾		684,099			614,721			700,237			667,783			654,655			648,312			645,866
Total deposits		201,597			188,868			205,263			197,890			192,771			188,901			191,471
Common equity/Allocated equity		43,002			41,705			43,179			42,824			42,412			41,265			41,145

Period End
Total loans and leases	$	246,287		$	210,787		$	246,287		$	239,066		$	232,631		$	220,873		$	210,787
Total trading-related assets		294,435			291,556			294,435			268,932			291,267			273,261			291,556
Total earning assets⁽²⁾		584,249			515,706			584,249			546,058			553,390			514,994			515,706
Total assets⁽²⁾		666,070			605,080			666,070			630,946			633,362			602,058			605,080
Total deposits		203,138			189,679			203,138			198,576			198,352			184,518			189,679

(1)

Fully taxable-equivalent basis

(2)

Total earning assets and Total Assets include excess earning asset allocations.

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 Business Results

(Dollars in millions)


	Three Months Ended June 30, 2006
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM/ Other
Net interest income⁽¹⁾	$	2,713		$	1,151		$	379		$	997		$	186
Noninterest income
Service charges		703			124			28			503			48
Investment and brokerage services		278			5			227			7			39
Investment banking income		645			—			644			—			1
Trading account profits		872			19			780			12			61
All other income		506			212			62			184			48

Total noninterest income		3,004			360			1,741			706			197

Total revenue⁽¹⁾		5,717			1,511			2,120			1,703			383

Provision for credit losses		41			19			8			(5	)		19
Gains (losses) on sales of debt securities		(3	)		(4	)		(1	)		—			2
Noninterest expense		2,956			534			1,311			822			289

Income before income taxes		2,717			954			800			886			77
Income tax expense		1,001			365			296			327			13

Net income	$	1,716		$	589		$	504		$	559		$	64

Shareholder value added	$	574		$	157		$	207		$	382		$	(172	)
Net interest yield⁽¹⁾		1.77	%		2.02	%		0.43	%		2.93	%		n/m
Return on average equity		15.94			14.00			18.55			33.05			n/m
Efficiency ratio⁽¹⁾		51.71			35.35			61.85			48.27			n/m
Period end total assets⁽²⁾	$	666,070		$	237,298		$	358,785		$	155,983			n/m

	Three Months Ended June 30, 2005
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM/ Other
Net interest income⁽¹⁾	$	2,783		$	1,224		$	520		$	794		$	245
Noninterest income
Service charges		655			118			25			472			40
Investment and brokerage services		262			4			225			7			26
Investment banking income		441			—			441			—			—
Trading account profits		232			(43	)		229			20			26
All other income		535			191			87			186			71

Total noninterest income		2,125			270			1,007			685			163

Total revenue⁽¹⁾		4,908			1,494			1,527			1,479			408

Provision for credit losses		(249	)		(202	)		1			—			(48	)
Gains (losses) on sales of debt securities		121			39			12			—			70
Noninterest expense		2,603			496			1,035			788			284

Income before income taxes		2,675			1,239			503			691			242
Income tax expense		970			450			181			249			90

Net income	$	1,705		$	789		$	322		$	442		$	152


Shareholder value added	$	620		$	408		$	60		$	268		$	(116	)
Net interest yield⁽¹⁾		1.99	%		2.45	%		0.62	%		2.30	%		n/m
Return on average equity		16.62			21.07			13.45			26.45			n/m
Efficiency ratio⁽¹⁾		53.02			33.20			67.78			53.28			n/m
Period end total assets⁽²⁾	$	605,080		$	207,186		$	333,474		$	165,460			n/m

(1)

Fully taxable-equivalent basis

(2)

Total Assets include excess earning asset allocations.

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 Corporate and Investment Banking Business Results

(Dollars in millions)


	Six Months Ended June 30, 2006
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM/ Other
Net interest income⁽¹⁾	$	5,427		$	2,301		$	790		$	1,966		$	370
Noninterest income
Service charges		1,390			250			61			987			92
Investment and brokerage services		550			9			453			15			73
Investment banking income		1,167			—			1,166			—			1
Trading account profits		1,880			34			1,703			23			120
All other income		863			268			151			343			101

Total noninterest income		5,850			561			3,534			1,368			387

Total revenue⁽¹⁾		11,277			2,862			4,324			3,334			757

Provision for credit losses		80			35			11			1			33
Gains (losses) on sales of debt securities		20			5			4			—			11
Noninterest expense		5,987			1,049			2,708			1,627			603

Income before income taxes		5,230			1,783			1,609			1,706			132
Income tax expense		1,931			672			596			631			32

Net income	$	3,299		$	1,111		$	1,013		$	1,075		$	100

Shareholder value added	$	1,037		$	258		$	426		$	694		$	(341	)
Net interest yield⁽¹⁾		1.82	%		2.05	%		0.46	%		2.88	%		n/m
Return on average equity		15.47			13.40			18.85			29.55			n/m
Efficiency ratio⁽¹⁾		53.09			36.65			62.63			48.80			n/m
Period end total assets⁽²⁾	$	666,070		$	237,298		$	358,785		$	155,983			n/m

	Six Months Ended June 30, 2005
	Total			Business Lending			Capital Markets and Advisory Services			Treasury Services			ALM/ Other
Net interest income⁽¹⁾	$	5,638		$	2,425		$	1,068		$	1,559		$	586
Noninterest income
Service charges		1,306			230			47			949			80
Investment and brokerage services		509			8			434			14			53
Investment banking income		813			—			813			—			—
Trading account profits		892			(41	)		845			41			47
All other income		1,196			508			171			328			189

Total noninterest income		4,716			705			2,310			1,332			369

Total revenue⁽¹⁾		10,354			3,130			3,378			2,891			955

Provision for credit losses		(399	)		(254	)		(1	)		(5	)		(139	)
Gains (losses) on sales of debt securities		151			60			20			—			71
Noninterest expense		5,310			992			2,210			1,570			538

Income before income taxes		5,594			2,452			1,189			1,326			627
Income tax expense		2,041			871			422			477			271

Net income	$	3,553		$	1,581		$	767		$	849		$	356

Shareholder value added	$	1,367		$	806		$	242		$	515		$	(196	)
Net interest yield⁽¹⁾		2.14	%		2.49	%		0.69	%		2.25	%		n/m
Return on average equity		17.18			20.80			15.95			26.35			n/m
Efficiency ratio⁽¹⁾		51.29			31.69			65.42			54.31			n/m
Period end total assets⁽²⁾	$	605,080		$	207,186		$	333,474		$	165,460			n/m

(1)

Fully taxable-equivalent basis

(2)

Total Assets include excess earning asset allocations.

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 Corporate and Investment Banking - Capital Markets and Advisory Services

Key Indicators

(Dollars in millions)


	Year-to-Date June 30				Second Quarter 2006		First Quarter 2006		Fourth Quarter 2005		Third Quarter 2005		Second Quarter 2005
	2006		2005		Second Quarter 2006		First Quarter 2006		Fourth Quarter 2005		Third Quarter 2005		Second Quarter 2005
Investment banking income
Advisory fees	$	130	$	133	$	54	$	76	$	73	$	89	$	73
Debt underwriting		856		585		476		380		390		348		311
Equity underwriting		180		95		114		66		84		94		57

Total investment banking income		1,166		813		644		522		547		531		441

Sales and trading
Fixed income
Liquid products		1,206		979		612		594		455		456		485
Credit products		440		351		141		299		64		219		93
Structured products		730		484		382		348		271		278		170

Total fixed income		2,376		1,814		1,135		1,241		790		953		748

Equity income		786		771		340		446		239		360		350

Total sales and trading		3,162		2,585		1,475		1,687		1,029		1,313		1,098

Total capital markets and advisory services revenue⁽¹⁾	$	4,328	$	3,398	$	2,119	$	2,209	$	1,576	$	1,844	$	1,539

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

Balance sheet (average)
Trading account securities	$	130,298	$	123,513	$	130,272	$	130,323	$	136,058	$	138,874	$	131,831
Reverse repurchases		72,843		68,369		70,571		75,141		75,229		78,919		77,080
Securities borrowed		95,759		87,581		102,759		88,682		79,993		85,377		97,597
Derivative assets		22,591		22,522		25,259		19,894		21,918		21,437		22,103

Trading-related assets	$	321,491	$	301,985	$	328,861	$	314,040	$	313,198	$	324,607	$	328,611

Sales credits from secondary trading
Liquid products	$	476	$	424	$	246	$	230	$	197	$	192	$	223
Credit products		389		345		205		184		160		152		177
Structured products		338		270		176		162		128		167		139
Equities		427		414		206		221		211		201		215

Total	$	1,630	$	1,453	$	833	$	797	$	696	$	712	$	754

Volatility of product revenues - 1 std dev
Liquid products	$	6.3	$	9.4	$	6.6	$	5.9	$	7.0	$	11.1	$	8.7
Credit products		3.7		10.2		3.6		3.3		4.1		3.7		13.2
Structured products		5.7		6.1		6.6		4.6		6.8		8.1		4.9
Equities		2.4		2.2		2.7		2.0		1.3		6.0		2.4
Total		10.1		17.0		10.9		8.8		12.2		16.0		17.6

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)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Business lending revenue⁽¹⁾
Corporate lending⁽²⁾	$	484		$	959		$	268		$	216		$	306		$	304		$	420
Commercial lending		2,019			1,912			1,055			964			913			1,011			948
Consumer indirect lending		364			319			184			180			189			184			165

Total revenue	$	2,867		$	3,190		$	1,507		$	1,360		$	1,408		$	1,499		$	1,533

Business lending margin
Corporate lending		1.12	%		1.80	%		1.10	%		1.13	%		1.43	%		1.62	%		1.74	%
Commercial lending		1.67			1.85			1.66			1.71			1.70			1.73			1.86
Consumer indirect lending		1.83			2.18			1.79			1.87			2.01			2.07			2.15

Provision
Corporate lending	$	(85	)	$	(179	)	$	(20	)	$	(65	)	$	11		$	(52	)	$	(57	)
Commercial lending		(16	)		(178	)		(21	)		5			110			89			(182	)
Consumer indirect lending		136			103			60			76			87			76			37

Total provision	$	35		$	(254	)	$	19		$	16		$	208		$	113		$	(202	)

Credit quality (% vs. loans)^(3,4)
Criticized assets
Corporate lending	$	1,473		$	1,994		$	1,473		$	1,593		$	1,602		$	1,785		$	1,994
		1.96	%		2.84	%		1.96	%		2.23	%		2.27	%		2.60	%		2.84	%
Commercial lending	$	4,609		$	4,678		$	4,609		$	4,540		$	4,633		$	4,647		$	4,678
		2.72	%		3.00	%		2.72	%		2.75	%		2.82	%		2.92	%		3.00	%

Total	$	6,082		$	6,672		$	6,082		$	6,133		$	6,235		$	6,432		$	6,672
		2.49	%		2.95	%		2.49	%		2.59	%		2.66	%		2.82	%		2.95	%

Nonperforming assets
Corporate lending	$	165		$	282		$	165		$	178		$	182		$	230		$	282
		0.44	%		0.89	%		0.44	%		0.46	%		0.48	%		0.69	%		0.89	%
Commercial lending	$	463		$	675		$	463		$	474		$	430		$	469		$	675
		0.33	%		0.52	%		0.33	%		0.34	%		0.31	%		0.36	%		0.52	%

Total	$	628		$	957		$	628		$	652		$	612		$	699		$	957
		0.35	%		0.59	%		0.35	%		0.37	%		0.35	%		0.42	%		0.59	%

Average loans and leases by product
Commercial	$	109,361		$	96,155		$	110,391		$	108,319		$	104,832		$	99,844		$	97,258
Leases		20,261			20,408			20,425			20,096			19,792			20,089			20,226
Foreign		11,968			8,854			12,186			11,748			10,473			9,384			9,024
Real estate		34,791			31,681			34,803			34,778			34,209			32,883			31,944
Consumer		33,855			25,887			34,128			33,579			32,307			31,070			26,665
Other		2,247			2,480			2,216			2,279			2,334			2,392			2,466

Total average loans and leases	$	212,483		$	185,465		$	214,149		$	210,799		$	203,947		$	195,662		$	187,583


(1) Includes gains (losses) on sales of debt securities.
(2) Total corporate lending revenue	$	*484*		$	959		$	*268*		$	216		$	306		$	304		$	420
Less: impact of credit mitigation		*(122*	)		234			*(39*	)		(83	)		(36	)		(18	)		96

Corporate lending revenues excluding credit mitigation	$	*606*		$	725		$	*307*		$	299		$	342		$	322		$	324

(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 credit 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 foreclosed properties. The nonperforming ratio is nonperforming assets divided by commercial loans and leases plus commercial foreclosed properties.

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

Bank of America Corporation

Global Corporate & Investment Banking Strategic Progress Continues

LOGO

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

Significant U.S. 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

•

M&A market share for YTD 05 includes MBNA; market share without MBNA is 8.4%

Bank of America Corporation

Global Wealth and Investment Management Segment Results⁽¹⁾

(Dollars in millions, except as noted)


	Year-to-Date June 30						Second Quarter			First Quarter			Fourth Quarter			Third Quarter			Second Quarter
	2006			2005			2006			2006			2005			2005			2005
Net interest income⁽²⁾	$	1,967		$	1,878		$	986		$	981		$	1,001		$	937		$	923
Noninterest income
Investment and brokerage services		1,704			1,555			870			833			792			793			788
All other income		252			170			99			154			98			89			79

Total noninterest income		1,956			1,725			969			987			890			882			867

Total revenue⁽²⁾		3,923			3,603			1,955			1,968			1,891			1,819			1,790

Provision for credit losses		(41	)		(7	)		(40	)		(1	)		1			(1	)		(9	)
Noninterest expense		1,982			1,839			991			992			948			924			929

Income before income taxes		1,982			1,771			1,004			977			942			896			870
Income tax expense		734			632			370			363			336			328			314

Net income	$	1,248		$	1,139		$	634		$	614		$	606		$	568		$	556

Shareholder value added	$	718		$	628		$	382		$	336		$	322		$	310		$	293
Net interest yield⁽²⁾		3.40	%		3.14	%		3.39	%		3.41	%		3.42	%		3.10	%		3.02	%
Return on average equity		24.15			22.77			25.76			22.69			21.95			22.51			21.64
Efficiency ratio⁽²⁾		50.53			51.06			50.68			50.39			50.12			50.79			51.91

Balance Sheet

Average
Total loans and leases	$	59,594		$	51,946		$	60,412		$	58,766		$	57,187		$	55,260		$	53,047
Total earning assets⁽³⁾		116,677			120,472			116,571			116,784			117,534			119,974			122,628
Total assets⁽³⁾		124,457			128,243			124,345			124,571			125,312			127,805			130,485
Total deposits		114,098			118,193			114,195			114,001			114,859			118,135			120,256
Common equity/Allocated equity		10,418			10,081			9,867			10,975			10,954			10,014			10,298

Period End
Total loans and leases	$	61,602		$	54,332		$	61,602		$	59,512		$	58,380		$	56,147		$	54,332
Total earning assets⁽³⁾		115,200			121,826			115,200			117,779			121,269			117,613			121,826
Total assets⁽³⁾		123,119			129,840			123,119			125,799			129,232			125,684			129,840
Total deposits		113,222			119,000			113,222			115,290			115,454			116,364			119,000

Client Assets (in billions)
Assets under management	$	500.1		$	442.8		$	500.1		$	493.9		$	482.4		$	457.4		$	442.8
Client brokerage assets		169.5			150.9			169.5			170.6			161.7			155.6			150.9
Assets in custody		95.2			101.7			95.2			97.0			94.2			96.1			101.7

Total client assets	$	764.8		$	695.4		$	764.8		$	761.5		$	738.3		$	709.1		$	695.4

(1)

Global Wealth and Investment Management services clients through three primary businesses: The Private Bank, Columbia Management, and Premier Banking and Investments. In addition, ALM/Other includes the results of ALM activities and other Global Wealth and Investment Management businesses.

(2)

Fully taxable-equivalent basis

(3)

Total earning assets and Total Assets include excess earning asset allocations.

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 Business Results

(Dollars in millions)


	Three Months Ended June 30, 2006
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM/ Other⁽¹⁾
Net interest income⁽²⁾	$	986		$	258		$	(12	)	$	508		$	232
Noninterest income
Investment and brokerage services		870			268			377			188			37
All other income		99			23			12			36			28

Total noninterest income		969			291			389			224			65

Total revenue⁽²⁾		1,955			549			377			732			297


Provision for credit losses		(40	)		(44	)		—			4			—
Noninterest expense		991			283			248			324			136

Income before income taxes		1,004			310			129			404			161
Income tax expense		370			115			48			150			57

Net income	$	634		$	195		$	81		$	254		$	104


Shareholder value added	$	382		$	128		$	47		$	177		$	30
Net interest yield⁽²⁾		3.39	%		3.40	%		n/m			4.30	%		n/m
Return on average equity		25.76			30.03			20.34	%		34.39			n/m
Efficiency ratio⁽²⁾		50.68			51.53			65.60			44.26			n/m
Period end - total assets⁽³⁾	$	123,119		$	32,006		$	2,885		$	51,731			n/m

	Three Months Ended June 30, 2005
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM/ Other⁽¹⁾
Net interest income⁽²⁾	$	923		$	250		$	5		$	410		$	258
Noninterest income
Investment and brokerage services		788			273			321			163			31
All other income		79			18			1			37			23

Total noninterest income		867			291			322			200			54

Total revenue⁽²⁾		1,790			541			327			610			312


Provision for credit losses		(9	)		(13	)		—			4			—
Noninterest expense		929			306			227			311			85

Income before income taxes		870			248			100			295			227
Income tax expense		314			92			37			106			79

Net income	$	556		$	156		$	63		$	189		$	148


Shareholder value added	$	293		$	98		$	26		$	103		$	66
Net interest yield⁽²⁾		3.02	%		3.40	%		n/m			3.00	%		n/m
Return on average equity		21.64			26.85			14.85	%		23.23			n/m
Efficiency ratio⁽²⁾		51.91			56.54			69.29			50.98			n/m
Period end - total assets⁽³⁾	$	129,840		$	30,866		$	2,638		$	55,002			n/m

(1)

Reflects Premier Banking and Investments migration which increased average deposits $49.3 billion and $39.1 billion for the three months ended June 30, 2006 and 2005.

(2)

Fully taxable-equivalent basis

(3)

Total Assets include excess earning asset allocations.

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 Wealth and Investment Management Business Results

(Dollars in millions)


	Six Months Ended June 30, 2006
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM/ Other⁽¹⁾
Net interest income⁽²⁾	$	1,967		$	504		$	(21	)	$	1,019		$	465
Noninterest income
Investment and brokerage services		1,704			520			741			367			76
All other income		252			61			22			60			109

Total noninterest income		1,956			581			763			427			185

Total revenue⁽²⁾		3,923			1,085			742			1,446			650


Provision for credit losses		(41	)		(48	)		—			7			—
Noninterest expense		1,982			606			483			672			221

Income before income taxes		1,982			527			259			767			429
Income tax expense		734			195			96			284			159

Net income	$	1,248		$	332		$	163		$	483		$	270


Shareholder value added	$	718		$	212		$	95		$	311		$	100
Net interest yield⁽²⁾		3.40	%		3.32	%		n/m			4.22	%		n/m
Return on average equity		24.15			28.23			20.53	%		29.63			n/m
Efficiency ratio⁽²⁾		50.53			55.85			65.06			46.47			n/m
Period end - total assets⁽³⁾	$	123,119		$	32,006		$	2,885		$	51,731			n/m

	Six Months Ended June 30, 2005
	Total			Private Bank			Columbia Management			Premier Banking and Investments			ALM/ Other⁽¹⁾
Net interest income⁽²⁾	$	1,878		$	496		$	9		$	783		$	590
Noninterest income
Investment and brokerage services		1,555			529			635			326			65
All other income		170			33			13			72			52

Total noninterest income		1,725			562			648			398			117

Total revenue⁽²⁾		3,603			1,058			657			1,181			707


Provision for credit losses		(7	)		(15	)		—			8			—
Noninterest expense		1,839			616			448			627			148

Income before income taxes		1,771			457			209			546			559
Income tax expense		632			169			77			197			189

Net income	$	1,139		$	288		$	132		$	349		$	370


Shareholder value added	$	628		$	173		$	58		$	183		$	214
Net interest yield⁽²⁾		3.14	%		3.38	%		n/m			2.85	%		n/m
Return on average equity		22.77			25.12			15.55	%		22.17			n/m
Efficiency ratio⁽²⁾		51.06			58.22			68.19			53.09			n/m
Period end - total assets⁽³⁾	$	129,840		$	30,866		$	2,638		$	55,002			n/m

(1)

Reflects Premier Banking and Investments migration which increased average deposits $47.9 billion and $36.2 billion for the six months ended June 30, 2006 and 2005.

(2)

Fully taxable-equivalent basis

(3)

Total Assets include excess earning asset allocations.

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 Wealth and Investment Management - Key Indicators

(Dollars in millions, except as noted)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
The Private Bank
Recurring asset management fees	$	506		$	519		$	260		$	246		$	247		$	247		$	269
Brokerage commissions		14			11			8			6			5			5			4

Total Investment and Brokerage Services Income	$	520		$	530		$	268		$	252		$	252		$	252		$	273

Assets Under Management	$	163,680		$	162,927		$	163,680		$	165,996		$	164,032		$	165,058		$	162,927

Columbia Management
Recurring asset management fees	$	740		$	641		$	377		$	363		$	336		$	332		$	323
Brokerage commissions		1			(6	)		—			1			—			(2	)		(3	)

Total Investment and Brokerage Services Income	$	741		$	635		$	377		$	364		$	336		$	330		$	320

Assets Under Management	$	394,355		$	320,473		$	394,355		$	385,896		$	361,179		$	332,364		$	320,473

Premier Banking and Investments
Recurring asset management fees	$	87		$	54		$	47		$	41		$	38		$	32		$	30
Brokerage commissions		280			272			141			138			130			143			133

Total Investment and Brokerage Services Income	$	367		$	326		$	188		$	179		$	168		$	175		$	163

Assets Under Management	$	16,116		$	10,854		$	16,116		$	15,325		$	13,723		$	12,554		$	10,854

Number of client managers		2,196			1,968			2,196			2,173			2,104			2,032			1,968
Number of financial advisors		1,869			1,968			1,869			1,873			1,895			1,925			1,968

Total Premier Banking and Investment Client Advisors		4,065			3,936			4,065			4,046			3,999			3,957			3,936

Brokerage Revenue per Financial Advisor (in thousands)	$	150		$	138		$	76		$	74		$	69		$	75		$	68

All Other
Recurring asset management fees	$	60		$	49		$	30		$	31		$	29		$	26		$	23
Brokerage commissions		15			16			7			8			8			9			8

Total Investment and Brokerage Services Income	$	75		$	65		$	37		$	39		$	37		$	35		$	31

Assets Under Management Elimination	$	(74,007	)	$	(51,464	)	$	(74,007	)	$	(73,287	)	$	(56,540	)	$	(52,577	)	$	(51,464	)

Total Global Wealth and Investment Management
Recurring asset management fees	$	1,393		$	1,262		$	713		$	680		$	650		$	637		$	644
Brokerage commissions		310			292			157			153			144			156			143

Total Investment and Brokerage Services Income	$	1,703		$	1,554		$	870		$	833		$	794		$	793		$	787

Assets Under Management	$	500,144		$	442,790		$	500,144		$	493,930		$	482,394		$	457,399		$	442,790

($ in billions)
Assets Under Management Rollforward
Beginning Balance	$	482		$	451		$	494		$	482		$	457		$	442		$	433
Net flows		12			(7	)		11			1			23			8			1
Market valuation/other		6			(2	)		(5	)		11			2			7			8

Ending Balance	$	500		$	442		$	500		$	494		$	482		$	457		$	442

Assets Under Management Mix
Money market/other	$	192		$	151		$	192		$	182		$	185		$	162		$	151
Fixed income		84			92			84			82			83			85			92
Equity		224			199			224			230			214			210			199

Total Assets Under Management	$	500		$	442		$	500		$	494		$	482		$	457		$	442

% of Assets Under Management in 4 and 5 Star Funds⁽¹⁾		59	%		52	%		59	%		56	%		56	%		53	%		52	%

% of Assets Under Management in 1st and 2nd Quartiles⁽²⁾		85			68			85			82			78			77			68

Client Brokerage Assets

Total brokerage assets	$	170		$	151		$	170		$	171		$	162		$	156		$	151

(1)

Results shown are defined by Columbia Management’s calculation using Morningstar’s Overall Rating criteria for 4 & 5 star rating. The assets under management of the Columbia Funds that had a 4 & 5 star rating were totaled then divided by the assets under management of all the funds in the ranking.

©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 results.

(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’s 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)


	Year-to-Date June 30						Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
	2006			2005			Second Quarter 2006			First Quarter 2006			Fourth Quarter 2005			Third Quarter 2005			Second Quarter 2005
Net interest income⁽²⁾	$	(5	)	$	(299	)	$	28		$	(33	)	$	(13	)	$	11		$	27
Noninterest income
Equity investment gains		1,037			743			524			513			453			596			479
All other income		(418	)		358			(179	)		(239	)		(531	)		(630	)		676

Total noninterest income		619			1,101			345			274			(78	)		(34	)		1,155

Total revenue⁽²⁾		614			802			373			241			(91	)		(23	)		1,182


Provision for credit losses		(40	)		(5	)		(25	)		(15	)		3			41			(22	)
Gains (losses) on sales of debt securities		(14	)		834			(6	)		(8	)		(23	)		13			204
Merger and restructuring charges		292			233			194			98			59			120			121
All other noninterest expense		152			110			30			122			60			131			19

Income before income taxes		196			1,298			168			28			(236	)		(302	)		1,268
Income tax expense (benefit)		57			356			148			(91	)		(178	)		(184	)		406

Net income	$	139		$	942		$	20		$	119		$	(58	)	$	(118	)	$	862


Shareholder value added	$	(287	)	$	110		$	(152	)	$	(135	)	$	(432	)	$	(612	)	$	449

Balance Sheet
Average
Total loans and leases	$	139,165		$	123,255		$	144,490		$	133,780		$	128,152		$	122,390		$	118,088
Total earning assets		226,630			130,408			230,133			223,088			159,023			151,211			137,094
Total assets		271,413			170,118			274,858			267,927			199,579			191,768			178,106
Total deposits		19,511			23,400			21,339			17,661			14,676			15,205			22,345

Period End
Total loans and leases	$	170,850		$	121,224		$	170,850		$	137,111		$	131,123		$	129,878		$	121,224
Total earning assets		253,860			149,735			253,860			210,921			155,956			159,704			149,735
Total assets		298,655			186,714			298,655			253,849			197,950			197,599			186,714
Total deposits		23,664			19,350			23,664			28,120			14,763			12,536			19,350

(1)

All Other consists primarily of equity investments, the residual impact of the allowance for credit losses and the cost allocation processes, 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)


	June 30 2006		March 31 2006		Increase (Decrease) from 3/31/06
Consumer
Residential mortgage	$	222,803	$	188,261	$	34,542
Credit card - domestic		62,990		64,490		(1,500	)
Credit card - foreign		8,576		7,789		787
Home equity lines		68,856		65,516		3,340
Direct/Indirect consumer		59,281		55,127		4,154
Other consumer⁽¹⁾		10,846		10,528		318

Total consumer		433,352		391,711		41,641

Commercial
Commercial - domestic		149,871		146,737		3,134
Commercial real estate⁽²⁾		37,262		36,337		925
Commercial lease financing		20,974		20,813		161
Commercial - foreign		26,494		23,927		2,567

Total commercial		234,601		227,814		6,787

Total	$	667,953	$	619,525	$	48,428

(1)

Includes consumer finance of $3.0 billion and $3.0 billion; and foreign consumer of $7.9 billion and $7.6 billion for June 30, 2006 and March 31, 2006.

(2)

Includes domestic commercial real estate loans of $36.5 billion and $35.7 billion; and foreign commercial real estate loans of $789 million and $671 million at June 30, 2006 and March 31, 2006.

Bank of America Corporation

Commercial Credit Exposure by Industry ⁽¹⁾

(Dollars in millions)


	Commercial Utilized Credit Exposure							Commercial Unfunded Credit Exposure							Total Commercial Committed Credit Exposure
	June 30 2006		March 31 2006		Increase (Decrease)			June 30 2006		March 31 2006		Increase (Decrease)			June 30 2006		March 31 2006		Increase (Decrease)
Real estate⁽²⁾	$	51,133	$	48,492	$	2,641		$	22,283	$	23,879	$	(1,596	)	$	73,416	$	72,371	$	1,045
Retailing		27,852		26,797		1,055			15,268		16,377		(1,109	)		43,120		43,174		(54	)
Diversified financials		27,179		24,503		2,676			40,542		40,251		291			67,721		64,754		2,967
Banks		24,429		20,787		3,642			9,045		8,502		543			33,474		29,289		4,185
Government and public education		20,351		19,835		516			15,364		14,661		703			35,715		34,496		1,219
Individuals and trusts		18,515		17,785		730			9,913		7,663		2,250			28,428		25,448		2,980
Consumer services		18,210		18,213		(3	)		12,353		12,068		285			30,563		30,281		282
Materials		17,426		15,595		1,831			12,220		10,966		1,254			29,646		26,561		3,085
Capital goods		16,137		15,711		426			18,103		17,534		569			34,240		33,245		995
Healthcare equipment and services		15,223		14,662		561			12,110		11,678		432			27,333		26,340		993
Commercial services and supplies		13,257		13,412		(155	)		7,634		7,892		(258	)		20,891		21,304		(413	)
Food, beverage and tobacco		11,394		11,344		50			9,191		9,591		(400	)		20,585		20,935		(350	)
Transportation		11,256		11,023		233			5,579		6,063		(484	)		16,835		17,086		(251	)
Energy		9,009		11,497		(2,488	)		8,470		8,460		10			17,479		19,957		(2,478	)
Religious and social organizations		7,668		7,394		274			2,564		2,545		19			10,232		9,939		293
Insurance		6,872		5,927		945			10,685		9,381		1,304			17,557		15,308		2,249
Utilities		6,868		5,132		1,736			10,169		11,457		(1,288	)		17,037		16,589		448
Media		5,842		6,730		(888	)		9,821		9,362		459			15,663		16,092		(429	)
Consumer durables and apparel		5,399		5,073		326			4,274		3,974		300			9,673		9,047		626
Telecommunication services		3,844		3,256		588			5,014		4,767		247			8,858		8,023		835
Technology hardware and equipment		2,903		3,044		(141	)		3,904		4,099		(195	)		6,807		7,143		(336	)
Software and services		2,537		2,522		15			2,820		3,211		(391	)		5,357		5,733		(376	)
Food and staples retailing		2,144		2,016		128			2,272		2,029		243			4,416		4,045		371
Automobiles and components		1,722		1,780		(58	)		3,509		3,629		(120	)		5,231		5,409		(178	)
Pharmaceuticals and biotechnology		1,594		1,636		(42	)		3,540		4,319		(779	)		5,134		5,955		(821	)
Household and personal products		896		1,288		(392	)		1,498		1,496		2			2,394		2,784		(390	)
Semiconductors and semiconductor equipment		703		576		127			566		701		(135	)		1,269		1,277		(8	)
Other		4,098		4,734		(636	)		383		195		188			4,481		4,929		(448	)

Total	$	334,461	$	320,764	$	13,697		$	259,094	$	256,750	$	2,344		$	593,555	$	577,514	$	16,041

(1)

Includes loans and leases, standby letters of credit and financial guarantees, derivative assets, assets held-for-sale and commercial letters of credit. Derivative assets are reported on a mark-to-market basis and have been reduced by the amount of cash collateral applied of $10.9 billion and $9.3 billion at June 30, 2006 and March 31, 2006. In addition to cash collateral, there are other marketable securities of $8.2 billion and $8.1 billion at June 30, 2006 and March 31, 2006 for which the credit risk has not been reduced.

(2)

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

Bank of America Corporation

Net Credit Default Protection by Industry


(Dollars in millions)	June 30 2006			March 31 2006			Change
Telecommunication services	$	(1,317	)	$	(1,153	)	$	(164	)
Media		(1,035	)		(1,539	)		504
Insurance		(965	)		(913	)		(52	)
Retailing		(895	)		(1,024	)		129
Materials		(877	)		(1,086	)		209
Real estate⁽¹⁾		(835	)		(887	)		52
Utilities		(689	)		(778	)		89
Consumer services		(540	)		(682	)		142
Automobiles and components		(513	)		(680	)		167
Commercial services and supplies		(452	)		(463	)		11
Capital goods		(426	)		(545	)		119
Energy		(392	)		(502	)		110
Healthcare equipment and services		(382	)		(495	)		113
Banks		(364	)		(412	)		48
Food, beverage and tobacco		(349	)		(444	)		95
Pharmaceuticals and biotechnology		(258	)		(434	)		176
Food and staples retailing		(233	)		(199	)		(34	)
Transportation		(218	)		(253	)		35
Consumer durables and apparel		(210	)		(372	)		162
Software and services		(136	)		(137	)		1
Diversified financials		(129	)		(171	)		42
Technology hardware and equipment		(65	)		(263	)		198
Government and public education		(45	)		(55	)		10
Semiconductors and semiconductor equipment		(44	)		(55	)		11
Individuals and trusts		—			(15	)		15
Household and personal products		75			75			—
Other⁽²⁾		1,751			873			878

Total	$	(9,543	)	$	(12,609	)	$	3,066

(1)

(2)

Represents net CDS index positions, including tranched index exposure, 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. CDS index positions were sold to reflect a short-term positive view of the credit markets.

Bank of America Corporation

Net Credit Default Protection by Maturity Profile⁽¹⁾


	June 30 2006		March 31 2006
Less than or equal to one year	(2	)%	3	%
Greater than one year and less than or equal to five years	57		64
Greater than five years	45		33
Total	100	%	100	%

(1)

In order to mitigate the cost of purchasing ideal levels of credit protection, credit exposure may be added by selling credit protection. In the table, the distribution of maturities for net credit protection purchased is shown as positive percentages and the distribution of maturities for net credit protection sold as negative percentages.

Net Credit Default Protection by Credit Exposure Debt Rating

(Dollars in millions)


	June 30, 2006					March 31, 2006
Ratings	Net Notional			Percent		Net Notional			Percent
AAA	$	(13	)	0.1	%	$	(17	)	0.1	%
AA		(308	)	3.2			(272	)	2.2
A		(3,285	)	34.4			(4,109	)	32.6
BBB		(5,626	)	59.0			(6,927	)	54.9
BB		(1,425	)	14.9			(1,388	)	11.0
B		(405	)	4.3			(597	)	4.8
CCC and below		(186	)	2.0			(141	)	1.1
NR⁽¹⁾		1,705		(17.9	)		842		(6.7	)

Total	$	(9,543	)	100.0	%	$	(12,609	)	100.0	%

(1)

In addition to unrated names, “NR” includes $1,751 million and $873 million in net CDS index positions, including tranched index exposure, at June 30, 2006 and March 31, 2006. While index positions are principally investment grade, CDS indices include names in and across each of the ratings categories.

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 June 30, 2006		Increase/ (Decrease) from December 31, 2005
*Region/Country*

Asia Pacific
China⁽⁷⁾	$	222	$	171	$	26	$	3,084	$	3,503	$	48	$	3,551	$	147
India		768		325		227		532		1,852		226		2,078		487
South Korea		188		394		86		1,677		2,345		—		2,345		1,190
Hong Kong		241		225		102		434		1,002		—		1,002		443
Taiwan		311		78		82		17		488		313		801		(117	)
Singapore		211		18		56		287		572		—		572		102
Other Asia Pacific⁽⁸⁾		46		46		22		545		659		181		840		245

Total Asia Pacific		1,987		1,257		601		6,576		10,421		768		11,189		2,497

Latin America
Mexico⁽⁹⁾		857		157		128		2,399		3,541		—		3,541		217
Brazil⁽¹⁰⁾		937		137		3		7		1,084		1,526		2,610		(861	)
Chile		292		17		—		8		317		795		1,112		132
Argentina		62		17		—		72		151		—		151		(43	)
Other Latin America⁽⁸⁾		130		109		4		25		268		15		283		(76	)

Total Latin America		2,278		437		135		2,511		5,361		2,336		7,697		(631	)

Central and Eastern Europe⁽⁸⁾		9		49		29		105		192		—		192		50

Total	$	4,274	$	1,743	$	765	$	9,192	$	15,974	$	3,104	$	19,078	$	1,916

(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 been reduced by the amount of cash collateral applied of $52 million and $55 million at June 30, 2006 and December 31, 2005. There are no other marketable securities collateralizing derivatives assets as of June 30, 2006. Derivative assets were collateralized by $3 million of other marketable securities at 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 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 us 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 us 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 June 30, 2006 was $26.7 billion compared to $24.2 billion at December 31, 2005. Local liabilities at June 30, 2006 in Asia Pacific and Latin America were $14.9 billion and $11.8 billion, of which $7.3 billion were in Hong Kong, $6.2 billion in Brazil, $4.8 billion in Singapore, $1.8 billion in Argentina $1.7 billion in Chile, $1.4 billion in Mexico, $987 million in Korea, $789 million in Uruguay, and $578 million in India. There were no other countries with available local liabilities funding local country exposure greater than $500 million.

(7)

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

(10)

The Corporation has risk mitigation instruments associated with certain exposures for Brazil, including structured trade-related transfer risk mitigation of $788 million and $830 million, third party funding of $111 million and $313 million, and linked certificates of deposit of $9 million and $59 million at June 30, 2006 and December 31, 2005. The resulting total foreign exposure net of risk mitigation was $1.7 billion and $2.3 Billion at June 30, 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)


	June 30 2006			March 31 2006			December 31 2005			September 30 2005			June 30 2005
Residential mortgage	$	537		$	538		$	570		$	493		$	494
Home equity lines		134			121			117			88			75
Direct/Indirect consumer		35			34			37			32			33
Other consumer		99			92			61			75			76

Total consumer		805			785			785			688			678

Commercial - domestic		606			631			581			641			662
Commercial real estate		59			72			49			44			60
Commercial lease financing		43			53			62			61			282
Commercial - foreign		54			43			34			64			88

Total commercial		762			799			726			810			1,092

Total nonperforming loans and leases		1,567			1,584			1,511			1,498			1,770
Nonperforming securities⁽¹⁾		—			—			—			—			14
Foreclosed properties		74			96			92			99			111

Total nonperforming assets⁽²⁾	$	1,641		$	1,680		$	1,603		$	1,597		$	1,895

Loans past due 90 days or more and still accruing	$	2,433		$	1,924		$	1,455		$	1,417		$	1,235
Nonperforming assets / Total assets		0.11	%		0.12	%		0.12	%		0.13	%		0.15	%
Nonperforming assets / Total loans, leases and foreclosed properties		0.25			0.27			0.28			0.29			0.36
Nonperforming loans and leases / Total loans and leases		0.23			0.26			0.26			0.27			0.33

Allowance for credit losses:
Allowance for loan and lease losses	$	9,080		$	9,067		$	8,045		$	8,326		$	8,319
Reserve for unfunded lending commitments		395			395			395			390			383

Total	$	9,475		$	9,462		$	8,440		$	8,716		$	8,702

Allowance for loan and lease losses / Total loans and leases		1.36	%		1.46	%		1.40	%		1.50	%		1.57	%
Allowance for loan and lease losses / Total nonperforming loans and leases		579			572			532			556			470

Commercial utilized criticized exposure	$	7,246		$	7,262		$	7,527		$	7,632		$	7,731
Commercial utilized criticized exposure / Commercial utilized credit exposure⁽³⁾		2.17	%		2.26	%		2.42	%		2.57	%		2.67	%

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 $114 million, $84 million, $69 million, $114 million and $73 million of nonperforming commercial assets, primarily commercial loans held-for-sale, included in Other Assets at June 30, 2006, March 31, 2006, December 31, 2005, September 30, 2005 and June 30, 2005, respectively.

(3)

Ratios have been restated to reflect the reduction of cash collateral applied from Derivative Assets that are being included in total commercial utilized credit exposure.

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)


	Second Quarter 2006⁽¹⁾					First Quarter 2006 ⁽¹⁾					Fourth Quarter 2005					Third Quarter 2005					Second Quarter 2005
	Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent		Amount			Percent
Residential mortgage	$	14		0.03	%	$	10		0.02	%	$	5		0.01	%	$	7		0.02	%	$	11		0.03	%
Credit card - domestic		723		4.46			634		3.77			1,366		9.53			772		5.55			774		5.91
Credit card - foreign		57		2.72			19		0.94			—		—			—		—			—		—
Home equity lines		12		0.07			9		0.05			7		0.04			9		0.06			9		0.07
Direct/Indirect consumer		103		0.73			79		0.58			81		0.69			60		0.50			46		0.43
Other consumer		75		2.80			42		1.67			118		7.06			58		3.42			43		2.48

Total consumer		984		0.97			793		0.82			1,577		1.79			906		1.06			883		1.09

Commercial - domestic		50		0.14			52		0.14			97		0.28			54		0.17			(7	)	(0.02	)
Commercial real estate		1		—			(1	)	(0.01	)		(3	)	(0.03	)		2		0.02			1		0.01
Commercial lease financing		(17	)	(0.33	)		(23	)	(0.45	)		(12	)	(0.25	)		209		4.06			9		0.19
Commercial - foreign		5		0.08			1		0.01			(11	)	(0.21	)		(26	)	(0.55	)		(6	)	(0.15	)

Total commercial		39		0.07			29		0.05			71		0.13			239		0.47			(3	)	(0.01	)

Total net charge-offs	$	1,023		0.65		$	822		0.54		$	1,648		1.16		$	1,145		0.84		$	880		0.68

By Business Segment:
Global Consumer and Small Business Banking	$	981		2.10	%	$	763		1.65	%	$	1,535		4.08	%	$	887		2.42	%	$	861		2.44	%
Global Corporate and Investment Banking		62		0.10			50		0.09			87		0.15			240		0.44			(5	)	(0.01	)
Global Wealth and Investment Management		(43	)	(0.29	)		—		—			(1	)	(0.01	)		(1	)	(0.01	)		5		0.04
All Other		23		0.06			9		0.03			27		0.09			19		0.06			19		0.07

Total net charge-offs	$	1,023		0.65		$	822		0.54		$	1,648		1.16		$	1,145		0.84		$	880		0.68

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

(1)

Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on credit card - domestic $7 million and $71 million, credit card - foreign $6 million and $38 million, direct/indirect consumer $7 million and $60 million, other consumer $3 million and $28 million and commercial - domestic $4 million and $13 million for the quarters ended June 30, 2006 and March 31, 2006. Refer to Exhibit A on page 45 for 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.

LOGO

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

Bank of America Corporation

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

(Dollars in millions)


	Six Months Ended June 30
	2006⁽¹⁾					2005
	Amount			Percent		Amount			Percent
Residential mortgage	$	24		0.03	%	$	15		0.02	%
Credit card - domestic		1,357		4.11			1,514		5.88
Credit card - foreign		76		1.83			—		—
Home equity lines		21		0.06			15		0.06
Direct/Indirect consumer		182		0.66			107		0.51
Other consumer		117		2.25			99		2.81

Total consumer		1,777		0.90			1,750		1.08

Commercial - domestic		102		0.14			19		0.03
Commercial real estate		—		—			1		—
Commercial lease financing		(40	)	(0.39	)		34		0.34
Commercial - foreign		6		0.05			(35	)	(0.40	)

Total commercial		68		0.06			19		0.02

Total net charge-offs	$	1,845		0.59		$	1,769		0.68

By Business Segment:
Global Consumer and Small Business Banking	$	1,744		1.88	%	$	1,679		2.41	%
Global Corporate and Investment Banking		112		0.09			34		0.03
Global Wealth and Investment Management		(43	)	(0.15	)		5		0.02
All Other		32		0.05			51		0.08

Total net charge-offs	$	1,845		0.59		$	1,769		0.68

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

(1)

Net charge-offs include the impact of SOP 03-3 which decreased net charge-offs on credit card - domestic $78 million, credit card - foreign $44 million, direct/indirect consumer $67 million, other consumer $31 million and commercial - domestic $17 million for the six months ended June 30, 2006. Refer to Exhibit A on page 45 for 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.

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⁾

Year-to-Date June 30, 2006

Second Quarter 2006

First Quarter 2006

(Dollars in millions)

Amount

Average
Outstanding
Loans and Leases

Percent

Amount

Average
Outstanding
Loans and Leases

Percent

Amount

Average
Outstanding
Loans and Leases

Percent

Residential mortgage

191,046

0.03

197,228

0.03

184,796

0.02

Credit card - domestic

1,357

66,566

4.11

723

64,980

4.46

634

68,169

3.77

Credit card - foreign

8,354

1.83

8,305

2.72

8,403

0.94

Home equity lines

65,698

0.06

67,182

0.07

64,198

0.05

Direct/Indirect consumer

182

55,875

0.66

103

56,715

0.73

55,025

0.58

Other consumer

117

10,581

2.25

10,804

2.80

10,357

1.67

Total consumer

1,777

398,120

0.90

984

405,214

0.97

793

390,948

0.82

Commercial - domestic

102

146,580

0.14

148,445

0.14

144,693

0.14

Commercial real estate

—

36,713

—

36,749

—

)

36,676

(0.01

)

Commercial lease financing

(40

)

20,705

(0.39

)

(17

)

20,896

(0.33

)

(23

)

20,512

(0.45

)

Commercial - foreign

23,745

0.05

24,345

0.08

23,139

0.01

Total commercial

227,743

0.06

230,435

0.07

225,020

0.05

Total net

charge-offs

1,845

625,863

0.59

1,023

635,649

0.65

822

615,968

0.54

Impact of SOP 03-3⁽²⁾

Residential mortgage

—

Credit card - domestic

Credit card - foreign

Home equity lines

—

Direct/Indirect consumer

Other consumer

Total consumer

220

197

Commercial - domestic

Commercial real estate

—

Commercial lease financing

—

Commercial - foreign

—

Total commercial

Total net

charge-offs

237

210

Net Charge-offs and Net Charge-off Ratios

Excluding the Impact of SOP 03-3

Residential mortgage

191,046

0.03

197,228

0.03

184,796

0.02

Credit card - domestic

1,435

66,566

4.35

730

64,980

4.50

705

68,169

4.19

Credit card - foreign

120

8,354

2.90

8,305

3.02

8,403

2.77

Home equity lines

65,698

0.06

67,182

0.07

64,198

0.05

Direct/Indirect consumer

249

55,875

0.90

110

56,715

0.77

139

55,025

1.02

Other consumer

148

10,581

2.85

10,804

2.93

10,357

2.76

Total consumer

1,997

398,120

1.01

1,007

405,214

1.00

990

390,948

1.03

Commercial - domestic

119

146,580

0.16

148,445

0.15

144,693

0.18

Commercial real estate

—

36,713

—

36,749

—

)

36,676

(0.01

)

Commercial lease financing

(40

)

20,705

(0.39

)

(17

)

20,896

(0.33

)

(23

)

20,512

(0.45

)

Commercial - foreign

23,745

0.05

24,345

0.08

23,139

0.01

Total commercial

227,743

0.08

230,435

0.07

225,020

0.08

Total net

charge-offs

2,082

625,863

0.67

1,050

635,649

0.66

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 June 30, 2006 and March 31, 2006, and the six months ended June 30, 2006 was immaterial.

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