Bank of America Reports Fourth-Quarter 2012 Net Income of $0.7 Billion, or $0.03 Per Diluted Share

  Bank of America Reports Fourth-Quarter 2012 Net Income of $0.7 Billion, or
  $0.03 Per Diluted Share

Previously Announced Selected Items Impact Pretax Earnings

  *Representations and Warranties, Compensatory Fees Settlements with Fannie
    Mae, $2.7 Billion or $0.16 EPS
  *Provision for Independent Foreclosure Review Acceleration Agreement, $1.1
    Billion or $0.06 EPS
  *Total Litigation Expense, $0.9 Billion or $0.05 EPS
  *Negative Valuation Adjustments for Improved Credit Spreads, $0.7 Billion
    or $0.04 EPS
  *Provision for Obligations Related to Mortgage Insurance Rescissions, $0.5
    Billion or $0.03 EPS
  *Gain on Sale of Japan Brokerage Joint Venture, $0.4 Billion or $0.02 EPS
  *Positive MSR Valuation Adjustment Related to Servicing Sales, $0.3 Billion
    or $0.02 EPS
  *Net Tax Benefit Primarily From Recognition of Foreign Tax Credits of
    Certain Non-U.S. Subsidiaries, $1.3 Billion or $0.12 EPS

Capital and Liquidity Remain Strong

  *Basel 1 Tier 1 Common Capital Ratio of 11.06 Percent at December31, 2012
  *Estimated Basel 3 Tier 1 Common Capital Ratio of 9.25 Percent at
    December31, 2012 (U.S. Basel 3 NPRs Fully Phased-in)^A
  *Long-term Debt Down $96.7 Billion From December31, 2011, Driven by
    Maturities and Liability Management Actions; Time-to-required Funding
    Remains Strong at 33 Months

Core Business Momentum Continues

  *Fourth-Quarter 2012 Net Interest Income (FTE basis)^B Increased to $10.6
    Billion From $10.2 Billion in Prior Quarter
  *Total Average Deposit Balances up $28 Billion, or 11 Percent (Annualized)
    From Prior Quarter
  *First-lien Mortgage Production Increased 6 Percent From Prior Quarter
  *Global Wealth and Investment Management Posts Record Quarterly Earnings
  *Period-end Commercial Loans and Leases in the Global Banking Segment,
    Including Real Estate Loans, Grew 7 Percent From Prior Quarter to $252
    Billion
  *Investment Bank Maintained No. 2 Ranking in Global and U.S. Investment
    Banking Fees; Fees Up 20 Percent From Prior Quarter and 58 Percent From
    the Year-ago Quarter

Business Wire

CHARLOTTE, N.C. -- January 17, 2013

Bank of America Corporation today reported net income of $0.7 billion, or
$0.03 per diluted share, for the fourth quarter of 2012, compared to $2.0
billion, or $0.15 per diluted share in the year-ago period. Revenue, net of
interest expense, on a fully taxable-equivalent (FTE)^B basis was $18.9
billion.

Fourth-quarter 2012 revenue, net of interest expense, on an FTE basis,
excluding $0.7 billion of debit valuation and fair value option adjustments,
was $19.6 billion; excluding $3.0 billion of provisions for representations
and warranties and obligations related to mortgage insurance rescissions
related to settlement agreements with the Federal National Mortgage
Association (Fannie Mae) revenue net of interest expense, on an FTE basis, was
$22.6 billion^B.

For the full year, the company reported net income of $4.2 billion, or $0.25
per diluted share, compared to $1.4 billion, or $0.01 per diluted share in
2011.

“We enter 2013 strong and well positioned for further growth,” said Chief
Executive Officer Brian Moynihan. “Double-digit growth since last year in
mortgage production, commercial lending, and Global Markets revenue
demonstrates the power of deeper customer and client relationships as we
intensify the focus on connecting all our capabilities.”

As previously announced, financial results in the fourth quarter of 2012 were
negatively impacted by a provision of $2.7 billion related to the settlements
with Fannie Mae with respect to representations and warranties and
compensatory fees; other provision items of $2.5 billion which included a $1.1
billion provision for the Independent Foreclosure Review (IFR) acceleration
agreement, total litigation expense of $0.9 billion and a $0.5 billion
provision for obligations related to mortgage insurance rescissions; and $0.7
billion of negative debit valuation adjustments (DVA) and fair value option
(FVO) adjustments due to improvement in the company's credit spreads. These
items were partially offset by a net income tax benefit of $1.3 billion
primarily due to the recognition of foreign tax credits of certain non-U.S.
subsidiaries; a gain of $0.4 billion on the previously announced sale of the
company's 49-percent stake in Mitsubishi UFJ Merrill Lynch PB Securities; and
a positive valuation adjustment on mortgage servicing rights (MSR) of $0.3
billion related to the previously announced servicing sales.

The year-ago quarter included $1.3 billion of negative DVA and FVO
adjustments, $1.8 billion of total litigation expense and a $0.6 billion
goodwill impairment charge in the European consumer card business. In
addition, the year-ago quarter included, among other significant items, a $2.9
billion pretax gain on the sale of a portion of the company's investment in
China Construction Bank (CCB), a $1.2 billion gain on the exchange of trust
preferred securities, and a $1.2 billion gain on the sale of debt securities.

Relative to the year-ago quarter, the results for the fourth quarter of 2012
were driven by improved credit quality across most major portfolios, increased
sales and trading revenue (excluding the impact of DVA^E), increased
investment and brokerage income, higher investment banking fees, partially
offset by an increase in consumer real estate losses, reflecting the Fannie
Mae settlements and the provision for the IFR acceleration agreement. In
addition, noninterest expense declined from the year-ago quarter, driven
primarily by cost savings achieved through Project New BAC initiatives over
the course of 2012.

"We addressed significant legacy issues in 2012 and our strengths are coming
through," said Chief Financial Officer Bruce Thompson. "Capital and liquidity
remain strong and credit continues to improve. Our primary focus this year is
to grow revenue, manage expenses and drive core earnings growth."

Selected Financial Highlights

                       Three Months Ended         Year Ended
(Dollars in              December 31   December 31   December 31   December 31
millions, except per   2012         2011         2012         2011
share data)
Net interest income,     $  10,555    $  10,959     $  41,557    $   45,588
FTE basis^1
Noninterest income       8,336         14,187        42,678        48,838
Total revenue, net
of interest expense,     18,891        25,146        84,235        94,426
FTE basis
Total revenue, net
of interest expense,     19,610        26,434        91,819        90,106
FTE basis, excluding
DVA and FVO^2
Provision for credit     2,204         2,934         8,169         13,410
losses
Noninterest              18,360        18,941        72,093        77,090
expense^3
Goodwill impairment      —             581           —             3,184
charges
Net income               $  732        $  1,991      $  4,188      $   1,446
Diluted earnings per   $  0.03     $  0.15     $  0.25     $   0.01
common share

^1 Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. For
reconciliation to GAAP financial measures, refer to pages 25-28 of this press
release. Net interest income on a GAAP basis was $10.3 billion and $10.7
billion for the three months ended December31, 2012 and 2011, and $40.7
billion and $44.6 billion for the years ended December31, 2012 and 2011.
Total revenue, net of interest expense, on a GAAP basis was $18.7 billion and
$24.9 billion for the three months ended December31, 2012 and 2011, and $83.3
billion and $93.5 billion for the years ended December31, 2012 and 2011.

^2 Total revenue, net of interest expense, on an FTE basis excluding DVA and
FVO adjustments is a non-GAAP financial measure. DVA gains (losses) were
$(277) million and $(474) million for the three months ended December31, 2012
and 2011, and $(2.5) billion and $1.0 billion for the years ended December31,
2012 and 2011. Valuation gains (losses) related to FVO were $(442) million and
$(814) million for the three months ended December31, 2012 and 2011, and
$(5.1) billion and $3.3 billion for the years ended December31, 2012 and
2011.

^3 Excludes goodwill impairment charges of $581 million in the three months
ended December31, 2011, and $3.2 billion for the year ended December31,
2011. Noninterest expense, excluding goodwill impairment charges, is a
non-GAAP financial measure.

Key Business Highlights

The company made significant progress in 2012 in line with its operating
principles, including the following developments:

Focus on customer-driven businesses

  *Bank of America extended approximately $475 billion in credit in 2012.
    This included $310.5 billion in commercial non-real estate loans, $75.1
    billion in residential first mortgages, $40.0 billion in commercial real
    estate loans, $17.9 billion in U.S. consumer and small business card, $3.6
    billion in home equity products and $27.9 billion in other consumer
    credit.
  *The $75.1 billion in residential first mortgages funded in 2012 helped
    more than 305,000 homeowners either purchase a home or refinance an
    existing mortgage. This included approximately 17,500 first-time homebuyer
    mortgages originated by retail channels, and more than 96,000 mortgages to
    low- and moderate-income borrowers. Approximately 16 percent of funded
    first mortgages were for home purchases and 84 percent were refinances.
  *The company originated approximately $8.7 billion in small business loans
    and commitments in 2012, up 28 percent from 2011, reflecting a continued
    focus on supporting small businesses.
  *Bank of America provided assistance to more than 2 million customer
    accounts in 14 states affected by Hurricane Sandy with comprehensive
    customer assistance programs including financial contributions to relief
    efforts, payment deferrals and fee waivers.
  *Total client balances in Global Wealth and Investment Management increased
    7 percent from 2011 led by market gains and solid flows in long-term
    assets under management (AUM), deposits and loans.
  *The company continued to deepen and broaden customer relationships. The
    number of mobile banking customers increased 31 percent from December31,
    2011 to 12.0 million customers, and the number of new U.S. credit card
    accounts opened in 2012 grew 7 percent from 2011.
  *Merrill Edge brokerage assets increased $9.4 billion from the end of 2011
    to $75.9 billion, driven by market improvement and an increase in new
    accounts.
  *The company continued to increase its specialized sales force of Financial
    Solutions Advisors, Mortgage Loan Officers and Small Business Bankers
    during the quarter to nearly 6,200 specialists at the end of 2012.
  *The company continued to support the economy by:

       *Helping clients raise $605 billion in capital in 2012.
       *Extending approximately $475 billion in credit in 2012.

  *Bank of America Merrill Lynch (BofA Merrill) continued to rank No. 2
    globally in net investment banking fees in 2012, as reported by Dealogic.
    Results for the fourth quarter of 2012 included record debt issuance fees
    since the Bank of America Merrill Lynch merger.

Continue to build a fortress balance sheet

  *The Tier 1 common capital ratio under Basel 1 was 11.06 percent at
    December 31, 2012, down 35 bps from September 30, 2012 and 120 bps higher
    than December 31, 2011.
  *The Tier 1 common capital ratio under Basel 3 on a fully phased-in basis
    is estimated at 9.25 percent at December31, 2012, up from 8.97 percent at
    September 30, 2012.^A
  *The company reduced long-term debt by nearly $100 billion from the end of
    2011 while maintaining significant excess liquidity.Global Excess
    Liquidity Sources totaled $372 billion at December31, 2012, slightly less
    than $380 billion at September 30, 2012 and $378 billion at December31,
    2011. Long-term debt declined to $276 billion at December31, 2012 from
    $287 billion at September 30, 2012 and $372 billion at December31, 2011.

Managing risk well

  *The provision for credit losses declined 25 percent from the year-ago
    quarter, reflecting improved credit quality across major consumer and
    commercial portfolios and the benefit of underwriting changes implemented
    over the past several years.
  *The U.S. credit card loss rate declined in the fourth quarter of 2012 to
    the lowest level since the second quarter of 2006^C while the 30+ day
    delinquency rate was at a historic low.
  *Consumer loan loss rates declined in the fourth quarter of 2012 to their
    lowest level since early 2008 and commercial loan loss rates declined to
    their lowest level since the fourth quarter of 2006^C.

Delivering for our shareholders

  *Tangible book value per share increased to $13.36 at December31, 2012,
    compared to $12.95 at December31, 2011^D. Book value per share was $20.24
    at December31, 2012, compared to $20.09 at December31, 2011.
  *The company continued to make progress on its legacy issues, reaching
    settlements with Fannie Mae to resolve substantially all outstanding and
    potential agency mortgage repurchase claims on loans originated and sold
    directly to Fannie Mae from January 1, 2000 through December 31, 2008 by
    legacy Countrywide and Bank of America, National Association (BANA);
    settling substantially all of Fannie Mae's outstanding and future claims
    for compensatory fees arising out of alleged past foreclosure delays; and
    clarifying the parties' obligations with respect to mortgage insurance.

Managing efficiency well

  *Fourth-quarter 2012 noninterest expense declined 6 percent from the
    year-ago quarter, reflecting a decrease in personnel expense as the
    company continued to streamline processes and achieve cost savings.
  *At December31, 2012, the company had 267,190 full-time employees, down
    5,404 from the end of the prior quarter, and 14,601 fewer than
    December31, 2011.

Business Segment Results

The company reports results through five business segments: Consumer and
Business Banking (CBB), Consumer Real Estate Services (CRES), Global Wealth
and Investment Management (GWIM), Global Banking, and Global Markets, with the
remaining operations recorded in All Other.

Consumer and Business Banking (CBB)

                 Three Months Ended         Year Ended
(Dollars in      December 31  December 31  December 31     December 31
millions)          2012          2011          2012             2011
Total revenue,
net of
interest           $ 7,204      $ 7,606       $  29,023       $  32,880
expense, FTE
basis
Provision for      963           1,297         3,941            3,490
credit losses
Noninterest        4,121         4,429         16,793           17,719
expense
Net income         $ 1,428       $ 1,242       $  5,321         $  7,447
Return on          10.48     %   9.30      %   9.92        %    14.07       %
average equity
Return on
average            23.94         22.08         23.01            33.52
economic
capital^1
Average loans      $ 132,421     $ 147,150     $  136,171       $  153,641
Average            486,467       459,819       477,440          462,087
deposits
                                                                            
                                               At December      At December
                                               31,             31,
                                               2012             2011
Client
brokerage                                $  75,946      $  66,576   
assets

^1 Return on average economic capital is a non-GAAP financial measure. For
reconciliation to GAAP financial measures, refer to pages 25-28 of this press
release.

Business Highlights

  *Average deposit balances increased $26.6 billion from the year-ago
    quarter, driven by growth in liquid products in a low-rate environment.
    The average rate paid on deposits declined 5 basis points to 16 basis
    points in the fourth quarter of 2012 from the year-ago quarter due to
    pricing discipline and a shift in the mix of deposits.
  *During the fourth quarter of 2012, purchase volumes per average active
    credit card account rose 7 percent from the year ago quarter; the number
    of BankAmericard Cash Rewards cards increased by nearly 24 percent in the
    fourth quarter of 2012 to a total of 2.1 million cards since the product
    was launched in the third quarter of 2011.

Financial Overview

Consumer and Business Banking net income was $1.4 billion, up $186 million, or
15 percent, from the year-ago quarter due to lower credit costs and
noninterest expense, partially offset by a decrease in net interest income
primarily from lower average loans and the continued low-rate environment.
Noninterest income of $2.5 billion remained relatively flat.

Provision for credit losses decreased $334 million from the year-ago quarter
to $963 million due to improvement in delinquencies and bankruptcies primarily
within the Card Services business. Noninterest expense decreased $308 million
to $4.1 billion compared to the fourth quarter of 2011 as a result of lower
FDIC expense and lower operating expenses.

Consumer Real Estate Services (CRES)

                  Three Months Ended         Year Ended
(Dollars in       December 31  December 31  December 31    December 31
millions)           2012          2011          2012            2011
Total revenue,
net of interest     $  468       $  3,275      $  8,759       $  (3,154   )
expense, FTE
basis
Provision for       485           1,001         1,442           4,524
credit losses
Noninterest         5,629         4,569         17,306          21,791
expense^1
Net loss            $  (3,722 )   $  (1,442 )   $  (6,507  )    $  (19,465  )
Average loans       97,912        116,993       104,754         119,820
and leases
                                                                            
                                                At December     At December
                                                31,            31,
                                                2012            2011
Period-end
loans and                                 $  95,972     $  112,359  
leases

^1 Full-year results include a goodwill impairment charge of $2.6 billion in
the second quarter of 2011.

Business Highlights

  *Bank of America funded $22.5 billion in residential home loans and home
    equity loans during the fourth quarter of 2012, up 41 percent from the
    fourth quarter of 2011, excluding correspondent originations of $6.5
    billion in the year-ago quarter. The company exited the correspondent
    business in late 2011.

  *The number of 60+ day delinquent first mortgage loans serviced by Legacy
    Assets and Servicing declined by 163,000, or 17 percent, during the fourth
    quarter of 2012 to 773,000 from 936,000 at the end of the third quarter of
    2012 and 1.16 million at the end of the fourth quarter of 2011.

Financial Overview

Consumer Real Estate Services reported a net loss of $3.7 billion for the
fourth quarter of 2012, compared to a net loss of $1.4 billion for the same
period in 2011 primarily due to mortgage banking losses driven by the Fannie
Mae settlements and higher expenses, partially offset by lower provision for
credit losses.

Revenue decreased $2.8 billion from the fourth quarter of 2011 to $468 million
in the fourth quarter of 2012, due largely to higher representations and
warranties provision and lower servicing income, driven by less favorable MSR
results, net of hedges. This was partially offset by higher core production
income. The MSR results, net of hedges, included the previously described MSR
valuation adjustment related to MSR sales.

Excluding the impact of correspondent channel originations, CRES direct
originations increased 42 percent and core production revenue increased $472
million in the fourth quarter of 2012 from the year-ago quarter primarily due
to higher margins on increased volume of direct originations.

Representations and warranties provision was $3.0 billion in the fourth
quarter of 2012, compared to $264 million in the fourth quarter of 2011, an
increase of $2.7 billion. The fourth-quarter provision included $2.5 billion
for representations and warranties and provision of $0.5 billion for
obligations related to mortgage insurance rescissions related to the Fannie
Mae settlements.

The provision for credit losses in the fourth quarter of 2012 decreased $516
million from the year-ago quarter to $485 million, driven by improved
portfolio trends in the non-purchased credit-impaired home equity portfolio
and reserve reductions in the purchased credit-impaired (PCI) home equity
portfolio due to the improved home price outlook.

Noninterest expense increased $1.1 billion from the fourth quarter of 2011 to
$5.6 billion, primarily due to $1.1 billion of expense related to the IFR
acceleration agreement. In connection with this agreement, the company agreed
to a cessation of the IFR process and to make a $1.1 billion payment to a fund
established for the benefit of borrowers pursuant to a plan agreed to by the
Office of the Comptroller of the Currency and the Board of Governors of the
Federal Reserve System. The company will also provide $1.8 billion in borrower
assistance, including loan modifications and other foreclosure prevention
actions. In addition, there was an increase in default-related servicing
expenses from the year-ago quarter and an increase in mortgage-related
assessments, waivers and other similar costs associated with foreclosure
delays, including a provision of $260 million for compensatory fees in
connection with the Fannie Mae settlements. These increases were partially
offset by $800 million in lower litigation expense from the fourth quarter of
2011.

The MSR asset was $5.7 billion at December 31, 2012, up $629 million from
September 30, 2012, due in part to the previously described MSR valuation
adjustment related to MSR sales.

Global Wealth and Investment Management (GWIM)

                  Three Months Ended         Year Ended
(Dollars in       December 31  December 31  December 31     December 31
millions)           2012          2011          2012             2011
Total revenue,
net of interest     $ 4,194      $  3,943      $  16,517       $  16,495
expense, FTE
basis
Provision for       112           118           266              398
credit losses
Noninterest         3,195         3,392         12,755           13,383
expense
Net income          $ 578         $  272        $  2,223         $  1,718
Return on           12.43     %   6.22      %   12.53       %    9.90       %
average equity
Return on
average             28.46         16.02         30.52            25.46
economic
capital^1
Average loans       $ 103,785     $  97,722     $  100,456       $  96,974
and leases
Average             249,658       237,098       242,384          241,535
deposits
                                                                            
(Dollars in                                     At December      At December
billions)                                       31,             31,
                                                2012             2011
Assets under                                    $  698.1         $  635.6
management
Total client                              2,166.7        2,030.5    
balances^2

^1 Return on average economic capital is a non-GAAP financial measure. For
reconciliation to GAAP financial measures, refer to pages 25-28 of this press
release.

^2 Total client balances are defined as assets under management, assets in
custody, client brokerage assets, client deposits and loans.

Business Highlights

  *Record net income of $578 million for the quarter and $2.2 billion for the
    year, up 29 percent from full-year 2011.
  *Record asset management fees of $1.6 billion for the quarter and $6.1
    billion for the year.
  *Client activity was strong in 2012. For the full year, period-end deposit
    balances increased $25.6 billion, up 11 percent from the year-ago quarter
    to a record $266.2 billion; period-end loan balances grew $7.3 billion, or
    7 percent, to a record $105.9 billion; and long-term AUM flows were $26.4
    billion for the year. Fourth-quarter 2012 long-term AUM flows of $9.1
    billion were the 14th consecutive quarter of positive flows.

Financial Overview

Global Wealth and Investment Management net income rose $306 million from the
fourth quarter of 2011 to $578 million due to higher revenue and lower
noninterest expense. Revenue increased 6 percent to $4.2 billion, driven by
higher asset management fees due to higher market levels and long-term AUM
flows, as well as higher brokerage transactional revenue. The pretax margin
was 21 percent for both the fourth quarter of 2012 and full-year 2012, up from
11 percent in the year-ago quarter and 16 percent for the full-year 2011.

Noninterest expense decreased 6 percent from the year-ago quarter to $3.2
billion, due to lower FDIC expense and lower litigation and other related
expenses, partially offset by higher revenue-related compensation. The
provision for credit losses was $112 million which was relatively flat
compared to $118 million in the year-ago quarter.

Client balances rose 7 percent to $2.17 trillion driven by higher market
levels and net inflows, driven by client activity in long-term AUM, deposits
and loans. Assets under management rose $62.5 billion from the fourth quarter
of 2011 to $698.1 billion, driven by higher market levels and long-term AUM
flows.

Global Banking

                        Three Months Ended         Year Ended
(Dollars in millions)   December 31  December 31  December 31  December 31
                         2012          2011          2012          2011
Total revenue, net of
interest expense, FTE    $ 4,326      $ 4,002       $ 17,207     $ 17,312
basis
Provision for credit     180           (256      )   (103      )   (1,118    )
losses
Noninterest expense      1,946         2,136         8,308         8,884
Net income               $ 1,432       $ 1,337       $ 5,725       $ 6,046
Return on average        12.47     %   11.51     %   12.47     %   12.76     %
equity
Return on average        27.32         25.06         27.21         26.59
economic capital^1
Average loans and        $ 278,218     $ 276,850     $ 272,625     $ 265,568
leases
Average deposits        268,045     240,757     249,317     237,312   

^1 Return on average economic capital is a non-GAAP financial measure. For
reconciliation to GAAP financial measures, refer to pages 25-28 of this press
release.

Business Highlights

  *BofA Merrill was ranked No. 2 globally in investment banking fees for both
    the fourth quarter and the full year of 2012, according to Dealogic. Based
    on deal volumes for the year, BofA Merrill was ranked among the top three
    banks in high-yield corporate debt, leveraged loans, investment-grade
    corporate debt, asset-backed securities and syndicated loans. Debt
    issuance fees of approximately $1.1 billion during the fourth quarter of
    2012 were the highest since the merger between Bank of America and Merrill
    Lynch.
  *Period-end loan and lease balances increased $10.1 billion, or 4 percent
    from the year-ago quarter, to $288.3 billion at the end of the fourth
    quarter of 2012, with growth in the commercial and industrial and leasing
    portfolios.
  *Period-end deposits rose to $269.7 billion at the end of the fourth
    quarter of 2012 from $246.4 billion at the end of the fourth quarter of
    2011.

Financial Overview

Global Banking  net income  of $1.4 billion was up $95 million from the
year-ago quarter, as higher revenue and a decline in noninterest expense were
partially offset by an increase in provision expense. Revenue of $4.3 billion
was up 8 percent from the year-ago quarter, primarily due to higher investment
banking fees and net interest income.

Firmwide investment banking fees of $1.6 billion, excluding self-led deals,
increased $587 million, or 58 percent from the year-ago quarter, mainly due
toa 84 percent increase in debt underwriting fees, a record performancesince
the merger between Bank of America and Merrill Lynch. Global Banking
investment banking fees, excluding self-led deals, were $842 million in the
fourth quarter of 2012 compared to $629 million in the year-ago quarter.
Global Corporate Banking revenue of $1.4 billion and Global Commercial Banking
revenue of $2.0 billion remained relatively unchanged compared to the year-ago
quarter. Business Lending revenue of $1.8 billion and Treasury Services
revenue of $1.6 billion remained in line with the year-ago quarter.

The provision for credit losses was $180 million in the fourth quarter of
2012, compared to $68 million in the third quarter of 2012 and a benefit of
$256 million in the prior-year quarter. The increase from the prior quarter
was driven primarily by the impact of regulatory guidance on consumer dealer
finance loans discharged from bankruptcy and commercial loan growth.Compared
to the year-ago quarter, provision expense increased primarily due to lower
reserve releases as asset quality stabilized in the portfolio.Noninterest
expense was $1.9 billion, down 9 percent from the year-ago quarter, primarily
from lower personnel-related and operating expenses.

Global Markets

                       Three Months Ended         Year Ended
(Dollars in            December 31  December 31  December 31  December 31
millions)                2012          2011          2012          2011
Total revenue, net
of interest expense,     $ 2,844      $ 1,807       $ 13,519     $ 14,798
FTE basis
Total revenue, net
of interest expense,     3,120         2,281         15,967        13,797
FTE basis, excluding
DVA^1
Provision for credit     16            (18       )   3             (56       )
losses
Noninterest expense      2,498         2,895         10,839        12,244
Net income (loss)        $ 152         $ (768    )   $ 1,054       $ 988
Net income (loss),
excluding DVA and        326           (469      )   3,377         1,131
U.K. tax^1
Return on average        3.39      %   n/m           5.99      %   4.36      %
equity^2
Return on average        4.63          n/m           8.20          5.54
economic capital^3
Total average assets   $ 628,449   $ 552,911   $ 588,459   $ 590,474 

^1 Total revenue, net of interest expense, on an FTE basis excluding DVA is a
non-GAAP financial measure. DVA gains (losses) were $(276) million and $(474)
million for the three months ended December31, 2012 and 2011, and $(2.4)
billion and $1.0 billion for the years ended December31, 2012 and 2011. U.K.
corporate tax rate adjustments were $781 million and $774 million for the
years ended December31, 2012 and 2011.

^2 Return on average equity, excluding DVA and U.K. corporate tax rate
adjustments was 19.19% and 4.99% for the years ended December31, 2012 and
2011.

^3 Return on average economic capital is a non-GAAP financial measure. Return
on average economic capital excluding DVA and the U.K. corporate tax rate
adjustments was 26.14% and 6.34% for the years ended December31, 2012 and
2011. For reconciliation to GAAP financial measures, refer to pages 25-28 of
this press release.

n/m = not meaningful

Business Highlights

  *Total revenue, excluding the impact of DVA^E, increased 37 percent in the
    fourth quarter of 2012 to $3.1 billion from $2.3 billion in the fourth
    quarter of 2011. Sales and trading revenue, excluding the impact of DVA^E,
    was $2.5 billion in the fourth quarter of 2012, compared to $2.0 billion
    in the fourth quarter of 2011.

Financial Overview

Global Markets reported net income in the fourth quarter of 2012 of $152
million, compared to a net loss of $768 million in the year-ago quarter.
Excluding DVA^E losses, net income was $326 million in the fourth quarter of
2012, compared to net income of $789 million in the third quarter of 2012
(excluding the impact of the U.K. tax rate change) and a net loss of $469
million in the year-ago quarter.

Global Markets revenue increased $1.0 billion from the year-ago quarter to
$2.8 billion. Excluding DVA^E, revenue increased $839 million to $3.1 billion
driven by higher sales and trading revenue and an increase in debt issuance
activity. The current quarter included DVA losses of $276 million, compared to
DVA losses of $474 million in the year-ago quarter.

Fixed Income, Currency and Commodities (FICC) sales and trading revenue,
excluding DVA^F, was $1.8 billion in the fourth quarter of 2012, an increase
of $485 million from the year-ago quarter, driven by credit businesses which
benefited from improved credit markets in Europe and in the financial sector.
Equities sales and trading revenue, excluding DVA^F, was $713 million, an
increase of $61 million from the year-ago quarter due to increased client
balances in financing and improved trading performance in derivatives.

Noninterest expense declined to $2.5 billion from $2.9 billion in the year-ago
quarter, primarily driven by a decrease in personnel-related expense.

All Other^1

                       Three Months Ended         Year Ended
(Dollars in            December 31  December 31  December 31  December 31
millions)                2012          2011          2012          2011
Total revenue, net
of interest expense,     $   (145  )  $  4,513      $  (790   )  $   16,095
FTE basis
Provision for credit     448           792           2,620         6,172
losses
Noninterest expense      971           2,101         6,092         6,253
Net income (loss)        $   864       $  1,350      $  (3,628 )   $   4,712
Total average loans    245,820     277,744     258,012     289,010

^1 All Other consists of ALM activities, equity investments, liquidating
businesses and other. ALM activities encompass the whole-loan residential
mortgage portfolio and investment securities, interest rate and foreign
currency risk management activities including the residual net interest income
allocation, gains/losses on structured liabilities, and the impact of certain
allocation methodologies and accounting hedge ineffectiveness. Equity
Investments includes Global Principal Investments, strategic and certain other
investments. Other includes certain residential mortgage and discontinued real
estate loans that are managed by Legacy Assets & Servicing within CRES.

All Other reported net income of $864 million in the fourth quarter of 2012,
compared to net income of $1.4 billion for the year-ago quarter, as a
reduction in revenue was partially offset by lower provision for credit
losses, lower noninterest expense and the income tax benefit related to the
recognition of certain foreign tax credits.

The decline in revenue was primarily driven by lower equity investment income,
$1.2 billion in gains related to exchanges of trust preferred securities in
the year-ago quarter and a decrease of $1.0 billion in gains on the sale of
debt securities from the fourth quarter of 2011. This decline was partially
offset by lower negative FVO adjustments in the most recent quarter compared
to a year ago. Negative FVO adjustments totaled $442 million in the fourth
quarter of 2012, compared to a negative $814 million in the fourth quarter of
2011.

Equity investment income was $570 million in the fourth quarter of 2012,
compared to $3.1 billion in the year-ago quarter. The fourth quarter of 2012
included a $370 million gain on the sale of our interest in the Japanese
brokerage joint venture and the year-ago period included a $2.9 billion gain
on the sale of a portion of the company's investment in CCB. Gains on the sale
of debt securities totaled $116 million in the fourth quarter of 2012, down
from $1.1 billion in the year-ago quarter.

The decrease in the provision for credit losses was driven primarily by the
impact of an improved home price outlook on the discontinued real estate and
residential mortgage PCI portfolios driving reserve reductions in the current
quarter compared to reserve builds a year ago. Noninterest expense decreased
compared to the fourth quarter of 2011 as the year-ago period included a $581
million goodwill impairment charge in the European consumer card business.

Corporate Overview

Revenue and Expense

                       Three Months Ended         Year Ended
(Dollars in              December 31   December 31   December 31   December 31
millions, except per   2012         2011         2012         2011
share data)
Net interest income,     $  10,555    $  10,959     $  41,557    $   45,588
FTE basis^1
Noninterest income       8,336         14,187        42,678        48,838
Total revenue, net
of interest expense,     18,891        25,146        84,235        94,426
FTE basis
Total revenue, net
of interest expense,     19,610        26,434        91,819        90,106
FTE basis, excluding
DVA and FVO^2
Provision for credit     2,204         2,934         8,169         13,410
losses
Noninterest              18,360        18,941        72,093        77,090
expense^3
Goodwill impairment      —             581           —             3,184
charges
Net income               $  732        $  1,991      $  4,188      $   1,446
Diluted earnings per   $  0.03     $  0.15     $  0.25     $   0.01
common share

^1 Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure. For
reconciliation to GAAP financial measures, refer to pages 25-28 of this press
release. Net interest income on a GAAP basis was $10.3 billion and $10.7
billion for the three months ended December31, 2012 and 2011, and $40.7
billion and $44.6 billion for the years ended December31, 2012 and 2011.
Total revenue, net of interest expense, on a GAAP basis, was $18.7 billion and
$24.9 billion for the three months ended December31, 2012 and 2011, and $83.3
billion and $93.5 billion for the years ended December31, 2012 and 2011.

^2 Total revenue, net of interest expense, on an FTE basis excluding DVA and
FVO adjustments is a non-GAAP financial measure. DVA gains (losses) were
$(277) million and $(474) million for the three months ended December31, 2012
and 2011 and $(2.5) billion and $1.0 billion for the years ended December31,
2012 and 2011. Valuation gains (losses) related to FVO were $(442) million and
$(814) million for the three months ended December31, 2012 and 2011, and
$(5.1) billion and $3.3 billion for the years ended December31, 2012 and
2011.

^3 Excludes goodwill impairment charges of $581 million for the three months
ended December31, 2011, and $3.2 billion for the year ended December31,
2011. Noninterest expense, excluding goodwill impairment charges, is a
non-GAAP financial measure.

Revenue, net of interest expense, on an FTE basis was $18.9 billion, down from
$25.1 billion in the fourth quarter of 2011, driven largely by mortgage
banking losses as a result of the recently announced settlements with Fannie
Mae, lower equity investment income, reduced gains on the sale of debt
securities and lower other income. These decreases were partially offset by
higher investment banking income and increased trading account profits.

Fourth-quarter 2012 revenue, net of interest expense, on an FTE basis,
excluding $0.7 billion of debit valuation adjustments and fair value option
adjustments, was $19.6 billion; excluding $3.0 billion of Fannie Mae
settlement-related provisions for representations and warranties and
obligations related to mortgage insurance rescissions related to settlement
agreements with Fannie Mae revenue, net of interest expense, on an FTE basis
was $22.6 billion^B.

Net interest income, on an FTE basis, totaled $10.6 billion in the fourth
quarter of 2012, compared to $10.2 billion in the third quarter of 2012 and
$11.0 billion in the fourth quarter of 2011^B. The decline from the year-ago
quarter was due to the impact of lower consumer loan balances and the Asset
and Liability Management (ALM) portfolio recouponing at lower rates, partially
offset by ongoing reductions in long-term debt balances and lower rates paid
on deposits. Net interest income in the fourth quarter of 2012 also included
unfavorable market-related premium amortization expense of $61 million.

Net interest margin was 2.35 percent in the fourth quarter of 2012, compared
to 2.32 percent in the third quarter of 2012 and 2.45 percent in the fourth
quarter of 2011.

Noninterest income decreased $5.9 billion from the year-ago quarter, driven
largely by mortgage banking losses as a result of Fannie Mae
settlement-related provisions of $2.5 billion for representations and
warranties and $0.5 billion for obligations related to mortgage insurance
rescissions, and a $2.9 billion gain related to the sale of a portion of the
company's investment in CCB in the year-ago quarter.

Equity investment income was down $2.5 billion from the fourth quarter of
2011, reflecting the impact of the CCB gain mentioned above. In addition,
other income decreased as the year-ago quarter included $1.2 billion of gains
related to liability management activities, partially offset by lower negative
FVO adjustments of $442 million in the fourth quarter of 2012, compared to a
negative $814 million in the fourth quarter of 2011. Results in the fourth
quarter of 2012 were also impacted by DVA losses of $277 million, compared to
losses of $474 million in the year-ago quarter. Gains on the sale of debt
securities totaled $171 million in the fourth quarter of 2012, down from $1.2
billion in the year-ago quarter.

Noninterest expense decreased $1.2 billion compared to the year-ago quarter
primarily as a result of a decrease in personnel expense as the company
continues to streamline processes and achieve cost savings. Also, the year-ago
period included a $581 million goodwill impairment charge. Other general
operating expense in the current quarter included $1.1 billion to cease the
IFR. Litigation expense was $916 million in the fourth quarter of 2012,
compared to $1.8 billion in the fourth quarter of 2011.

Income tax benefit for the fourth quarter of 2012 was $2.6 billion on a $1.9
billion pretax loss and included a $1.3 billion net income tax benefit
primarily from the recognition of foreign tax credits of certain non-U.S.
subsidiaries. This compares to income tax expense of $441 million on $2.4
billion of pretax income in the year-ago quarter.

Credit Quality

                       Three Months Ended         Year Ended
(Dollars in            December 31  December 31  December 31  December 31
millions)                2012          2011          2012          2011
Provision for credit     $  2,204     $  2,934      $  8,169     $  13,410
losses
Net charge-offs          3,104         4,054         14,908        20,833
Net charge-off           1.40      %   1.74      %   1.67      %   2.24      %
ratio^1
                                                                             
                                                     December 31  December 31
                                                     2012          2011
Nonperforming loans,
leases and                                           $  23,555     $  27,708
foreclosed
properties
Nonperforming loans,
leases and                                           2.62      %   3.01      %
foreclosed
properties ratio^2
Allowance for loan                                   $  24,179     $  33,783
and lease losses
Allowance for loan
and lease losses                               2.69      %  3.68      %
ratio^3

^1 Net charge-off ratios are calculated as net charge-offs divided by average
outstanding loans and leases during the period; quarterly results are
annualized.

^2 Nonperforming loans, leases and foreclosed properties ratios are calculated
as nonperforming loans, leases and foreclosed properties divided by
outstanding loans, leases and foreclosed properties at the end of the period.

^3 Allowance for loan and lease losses ratios are calculated as allowance for
loan and lease losses divided by loans and leases outstanding at the end of
the period.

Note: Ratios do not include loans measured under the fair value option.

Credit quality continued to improve in the fourth quarter of 2012, with net
charge-offs declining across nearly all major portfolios and the provision for
credit losses decreasing significantly from a year ago. Additionally, 30+ day
performing delinquent loans, excluding fully insured loans, declined across
all major consumer portfolios, and reservable criticized balances also
continued to decline, down 42 percent from the year-ago period.

Net charge-offs of $3.1 billion in the fourth quarter of 2012 decreased $1.0
billion from the third quarter of 2012 and declined $950 million from the
fourth quarter of 2011. The decline from the prior quarter was due to the
absence of $435 million in charge-offs related to the National Mortgage
Settlement and $478 million related to the impact of a change in regulatory
guidance regarding the treatment of loans discharged in bankruptcy. Excluding
these impacts, the decline was driven primarily by lower delinquencies in the
Card Services portfolio. The improvement from a year ago was driven by credit
quality improvement across nearly all major portfolios.

The provision for credit losses increased by $430 million in the fourth
quarter of 2012 to $2.2 billion compared to the third quarter of 2012 and
declined $730 million from $2.9 billion in the fourth quarter of 2011. The
provision for credit losses in the fourth quarter of 2012 was $900 million
lower than net charge-offs, resulting in a reduction in the allowance for
credit losses. This included a $430 million benefit in the PCI portfolio due
to an improved home price outlook. The remaining reduction was driven
primarily by improvement in bankruptcies and delinquencies across the Card
Services portfolio.

The allowance for loan and lease losses to annualized net charge-off coverage
ratio was 1.96 times in the fourth quarter of 2012, compared with 1.60 times
in the third quarter of 2012 and 2.10 times in the fourth quarter of 2011. The
increase from the third quarter of 2012 was due to the net charge-off events
noted above. Excluding PCI loans, the allowance to annualized net charge-off
coverage ratio was 1.51 times, 1.17 times and 1.57 times for the same periods,
respectively.

Nonperforming loans, leases and foreclosed properties were $23.6 billion at
December 31, 2012, a decrease from $24.9 billion at September 30, 2012 and
$27.7 billion at December 31, 2011.

Capital and Liquidity Management

(Dollars in millions,        At December 31   At September 30   At December 31
except per share           2012            2012             2011
information)
Total shareholders’        $  236,956      $   238,606      $  230,101
equity
Tier 1 common capital        133,403          136,406           126,690
Tier 1 common capital        11.06       %    11.41        %    9.86        %
ratio
Tangible common equity       6.74             6.95              6.64
ratio^1
Common equity ratio          9.87             10.15             9.94
Tangible book value per      $  13.36         $   13.48         $  12.95
share^1
Book value per share       20.24          20.40           20.09       

^1 Tangible common equity ratio and tangible book value per share arenon-GAAP
financial measures.For reconciliation to GAAP financial measures, refer to
pages 25-28 of this press release.

The Tier 1 common capital ratio under Basel 1 was 11.06 percent at
December31, 2012, compared to 11.41 percent at September30, 2012 and 9.86
percent at December31, 2011. The Tier 1 capital ratio was 12.89 percent at
December31, 2012, compared to 13.64 percent at September30, 2012 and 12.40
percent at December31, 2011. The decline in the Tier 1 common capital ratio
(Basel 1) from the third quarter of 2012 was primarily driven by a decline in
Tier 1 common capital due to pretax losses and higher risk-weighted assets on
commercial loan growth.

As of December31, 2012, the company's Tier 1 common capital ratio on a Basel
3 fully phased-in basis was estimated at 9.25 percent, up from 8.97 percent at
September30, 2012^A. ^ Basel 3 estimates are based on the company's current
understanding of the U.S. Basel 3 NPRs, assuming all regulatory model
approvals, except for the potential reduction to the risk-weighted assets
resulting from the Comprehensive Risk Measure after one year. Under Basel 3,
the Tier 1 common capital ratio increased from the estimate for the third
quarter of 2012 as the adverse impacts of the pretax losses, the unrealized
loss on available-for-sale debt securities that was recognized in other
comprehensive income and the increase in threshold deductions were more than
offset by lower risk-weighted assets. The decline in risk-weighted assets was
primarily due to lower exposures and updates of recent loss experience in our
credit models.

At December31, 2012, the company's total Global Excess Liquidity Sources were
$372 billion, a modest reduction of $6 billion from the fourth quarter of
2011, while long-term debt declined by $96.7 billion from the year-ago period.
Time-to-required funding was 33 months at December 31, 2012, compared to 35
months at September 30, 2012 and 29 months at December31, 2011.

During the fourth quarter of 2012, a cash dividend of $0.01 per common share
was paid and the company recorded $365 million in preferred dividends.
Period-end common shares issued and outstanding were 10.78 billion and 10.54
billion for the fourth quarter of 2012 and 2011.

------------------------------

^A Basel 3 Tier 1 common capital ratio is a non-GAAP financial measure. For a
reconciliation to GAAP financial measures, refer to page 21 of this press
release. Basel 3 estimates reflect the company's current understanding of the
U.S. Basel 3 NPRs and assume all necessary regulatory model approvals, except
for the potential reduction to the risk-weighted assets resulting from the
Comprehensive Risk Measure after one year.

^B Fully taxable-equivalent (FTE) basis is a non-GAAP financial measure.
Revenue, net of interest expense, on a FTE basis excluding debit valuation
adjustments and fair value option adjustments, and also excluding provisions
for representations and warranties and mortgage insurance rescissions related
to the settlement agreements with Fannie Mae, are non-GAAP financial measures.
For reconciliation to GAAP financial measures, refer to pages 25-28 of this
press release. Net interest income on a GAAP basis was $10.3 billion and $10.7
billion for the three months ended December31, 2012 and 2011, and $40.7
billion and $44.6 billion for the years ended December31, 2012 and 2011.
Total revenue, net of interest expense, on a GAAP basis, was $18.7 billion and
$24.9 billion for the three months ended December31, 2012 and 2011, and $83.3
billion and $93.5 billion for the years ended December31, 2012 and 2011.

^C 2006 and 2008 amounts are on a managed basis.

^D Tangible book value per share of common stock is a non-GAAP financial
measure. Other companies may define or calculate this measure differently. For
a reconciliation to GAAP financial measures, refer to pages 25-28 of this
press release.

^E Sales and trading revenue, excluding the impact of DVA, is a non-GAAP
financial measure. DVA gains (losses) were $(276) million and $(474) million
for the three months ended December31, 2012 and 2011, and $(2.4) billion and
$1.0 billion for the years ended December31, 2012 and 2011.

^F Fixed Income, Currency and Commodities sales and trading revenue, excluding
DVA, is a non-GAAP financial measure. DVA gains(losses) were $(237) million
and $(495) million for the three months ended December31, 2012 and 2011, and
$(2.2) billion and $794 million for the years ended December31, 2012 and
2011. Equities revenue, excluding DVA, is a non-GAAP financial measure. DVA
gains (losses) were $(39) million and $21 million for the three months ended
December31, 2012 and 2011, and $(253) million and $207 million for the years
ended December31, 2012 and 2011.

Note: Chief Executive Officer Brian Moynihan and Chief Financial Officer Bruce
Thompson will discuss fourth-quarter 2012 results in a conference call at 8:30
a.m. ET today. The presentation and supporting materials can be accessed on
the Bank of America Investor Relations Web site at
http://investor.bankofamerica.com. For a listen-only connection to the
conference call, dial 1.877.200.4456  (U.S.) or 1.785.424.1734 (international)
and the conference ID: 79795.

Bank of America

Bank of America is one of the world's largest financial institutions, serving
individual consumers, small- and middle-market businesses and large
corporations with a full range of banking, investing, asset management and
other financial and risk management products and services. The company
provides unmatched convenience in the United States, serving approximately 53
million consumer and small business relationships with approximately 5,500
retail banking offices and approximately 16,300 ATMs and award-winning online
banking with 30 million active users. Bank of America is among the world's
leading wealth management companies and is a global leader in corporate and
investment banking and trading across a broad range of asset classes, serving
corporations, governments, institutions and individuals around the world. Bank
of America offers industry-leading support to approximately 3 million small
business owners through a suite of innovative, easy-to-use online products and
services. The company serves clients through operations in more than 40
countries. Bank of America Corporation stock (NYSE: BAC) is a component of the
Dow Jones Industrial Average and is listed on the New York Stock Exchange.

Forward-looking Statements

Bank of America and its management may make certain statements that constitute
“forward-looking statements” within the meaning of the Private Securities
Litigation Reform Act of 1995. These statements can be identified by the fact
that they do not relate strictly to historical or current facts.
Forward-looking statements often use words such as “anticipates,” “targets,”
“expects,” “estimates,” “intends,” “plans,” “goals,” “believes” and other
similar expressions or future or conditional verbs such as “will,” “should,”
“would” and “could.” The forward-looking statements made represent Bank of
America's current expectations, plans or forecasts of its future results and
revenues, including continued momentum in deposits, first-lien mortgage
production, GWIM earnings, commercial loans and investment banking; the
company's stated primary focus in 2013 to grow revenue, manage expenses and
drive core earnings growth; the estimates of liability and range of possible
loss for various representations and warranties claims; actions to be taken
pursuant to and effects of the Fannie Mae settlements and the IFR acceleration
agreement; and other similar matters. These statements are not guarantees of
future results or performance and involve certain risks, uncertainties and
assumptions that are difficult to predict and are often beyond Bank of
America's control. Actual outcomes and results may differ materially from
those expressed in, or implied by, any of these forward-looking statements.

You should not place undue reliance on any forward-looking statement and
should consider all of the following uncertainties and risks, as well as those
more fully discussed under Item 1A. “Risk Factors” of Bank of America's 2011
Annual Report on Form 10-K, and in any of Bank of America's subsequent SEC
filings; the company's ability to obtain required approvals or consents from
third parties with respect to the MSR sale agreements, including that there is
no assurance that the applicable approvals and consents will be obtained, and
accordingly some of these transfers may not be consummated; the company's
resolution of remaining differences with the government-sponsored enterprises
(GSEs) regarding representations and warranties repurchase claims, including
in some cases with respect to mortgage insurance rescissions and foreclosure
delays; the company's ability to resolve representations and warranties claims
made by monolines and private-label and other investors, including as a result
of any adverse court rulings, and the chance that the company could face
related servicing, securities, fraud, indemnity or other claims from one or
more of the monolines or private-label and other investors; if future
representations and warranties losses occur in excess of the company's
recorded liability and estimated range of possible loss for GSE and non-GSE
exposures; uncertainties about the financial stability of several countries in
the European Union (EU), the increasing risk that those countries may default
on their sovereign debt or exit the EU and related stresses on financial
markets, the euro and the EU and the company's direct and indirect exposures
to such risks; the uncertainty regarding the timing and final substance of any
capital or liquidity standards, including the final Basel 3 requirements and
their implementation for U.S. banks through rulemaking by the Federal Reserve,
including anticipated requirements to hold higher levels of regulatory
capital, liquidity and meet higher regulatory capital ratios as a result of
final Basel 3 or other capital or liquidity standards; the negative impact of
the Dodd-Frank Wall Street Reform and Consumer Protection Act on the company's
businesses and earnings, including as a result of additional regulatory
interpretation and rulemaking and the success of the company's actions to
mitigate such impacts; the company's satisfaction of its borrower assistance
programs under the global settlement agreement with federal agencies and state
attorneys general and under the acceleration agreement with the OCC and the
Federal Reserve; adverse changes to the company's credit ratings from the
major credit rating agencies; estimates of the fair value of certain of the
company's assets and liabilities; unexpected claims, damages and fines
resulting from pending or future litigation and regulatory proceedings; the
company's ability to fully realize the cost savings and other anticipated
benefits from Project New BAC, including in accordance with currently
anticipated timeframes; and other similar matters.

Forward-looking statements speak only as of the date they are made, and Bank
of America undertakes no obligation to update any forward-looking statement to
reflect the impact of circumstances or events that arise after the date the
forward-looking statement was made.

BofA Global Capital Management Group, LLC (BofA Global Capital Management) is
an asset management division of Bank of America Corporation. BofA Global
Capital Management entities furnish investment management services and
products for institutional and individual investors.

Bank of America Merrill Lynch is the marketing name for the global banking and
global markets businesses of Bank of America Corporation. Lending, derivatives
and other commercial banking activities are performed by banking affiliates of
Bank of America Corporation, including Bank of America, N.A., member FDIC.
Securities, financial advisory and other investment banking activities are
performed by investment banking affiliates of Bank of America Corporation
(Investment Banking Affiliates), including Merrill Lynch, Pierce, Fenner &
Smith Incorporated, which are registered broker-dealers and members of FINRA
and SIPC. Investment products offered by Investment Banking Affiliates: Are
Not FDIC Insured * May Lose Value * Are Not Bank Guaranteed. Bank of America
Corporation's broker-dealers are not banks and are separate legal entities
from their bank affiliates. The obligations of the broker-dealers are not
obligations of their bank affiliates (unless explicitly stated otherwise), and
these bank affiliates are not responsible for securities sold, offered or
recommended by the broker-dealers. The foregoing also applies to other
non-bank affiliates.

For more Bank of America news, visit the Bank of America newsroom at
http://newsroom.bankofamerica.com.

                            www.bankofamerica.com

                                                                            
Bank of America Corporation and
Subsidiaries
Selected Financial Data                                                        
(Dollars in millions, except per share
data; shares in thousands)
                           
Summary         Year Ended                      Fourth              Third               Fourth
Income          December 31                     Quarter             Quarter             Quarter
Statement                                       2012                2012                2011
                2012          2011
Net interest    $ 40,656      $ 44,616          $ 10,324            $ 9,938             $ 10,701
income
Noninterest     42,678       48,838           8,336              10,490             14,187    
income
Total
revenue, net    83,334        93,454            18,660              20,428              24,888
of interest
expense
Provision for   8,169         13,410            2,204               1,774               2,934
credit losses
Goodwill        —             3,184             —                   —                   581
impairment
Merger and
restructuring   —             638               —                   —                   101
charges
All other
noninterest     72,093       76,452           18,360             17,544             18,840    
expense ^(1)
Income (loss)
before income   3,072         (230      )       (1,904    )         1,110               2,432
taxes
Income tax
expense         (1,116    )   (1,676    )       (2,636    )         770                441       
(benefit)
Net income      $ 4,188      $ 1,446          $ 732              $ 340              $ 1,991   
Preferred
stock           1,428        1,361            365                373                407       
dividends
Net income
(loss)
applicable to   $ 2,760      $ 85             $ 367              $ (33     )         $ 1,584   
common
shareholders
                                                                                        
Earnings per    $ 0.26        $ 0.01            $ 0.03              $ 0.00              $ 0.15
common share
Diluted
earnings per    0.25          0.01              0.03                0.00                0.15
common share
                                                                                        
Summary         Year Ended                      Fourth              Third               Fourth
Average         December 31                     Quarter             Quarter             Quarter
Balance Sheet                                   2012                2012                2011
                2012          2011
Total loans     $ 898,768     $ 938,096         $ 893,166           $ 888,859           $ 932,898
and leases
Debt            337,653       337,120           339,779             340,773             332,990
securities
Total earning   1,769,969     1,834,659         1,788,936           1,750,275           1,783,986
assets
Total assets    2,191,356     2,296,322         2,210,365           2,173,312           2,207,567
Total           1,047,782     1,035,802         1,078,076           1,049,697           1,032,531
deposits
Common
shareholders’   216,996       211,709           219,744             217,273             209,324
equity
Total
shareholders’   235,677       229,095           238,512             236,039             228,235
equity
                                                                                        
Performance     Year Ended                      Fourth              Third               Fourth
Ratios          December 31                     Quarter             Quarter             Quarter
                2012          2011              2012                2012                2011
Return on
average         0.19      %   0.06      %       0.13      %         0.06      %         0.36      %
assets
Return on
average
tangible        2.60          0.96              1.77                0.84                5.20
shareholders’
equity ^(2)
                                                                                        
Credit          Year Ended                      Fourth              Third               Fourth
Quality         December 31                     Quarter             Quarter             Quarter
                2012          2011              2012                2012                2011
Total net       $ 14,908      $ 20,833          $ 3,104             $ 4,122             $ 4,054
charge-offs
Net
charge-offs
as a % of
average loans   1.67      %   2.24      %       1.40      %         1.86      %         1.74      %
and leases
outstanding
^(3)
Provision for   $ 8,169       $ 13,410          $ 2,204             $ 1,774             $ 2,934
credit losses
                                                                                        
                                                December 31         September           December 31
                                                2012                30                  2011
                                                                    2012
Total
nonperforming
loans, leases
and                                             $ 23,555            $ 24,925            $ 27,708
foreclosed
properties
^(4)
Nonperforming
loans, leases
and
foreclosed
properties as
a % of total                                    2.62      %         2.81      %         3.01      %
loans, leases
and
foreclosed
properties
^(3)
Allowance for
loan and                                        $ 24,179            $ 26,233            $ 33,783
lease losses
Allowance for
loan and
lease losses
as a % of                                       2.69      %         2.96      %         3.68      %
total loans
and leases
outstanding
^(3)
                                                                      
                                                                                        
This information is preliminary and based on company data available at the time of the
presentation.

                                                                                
Bank of America Corporation and
Subsidiaries
Selected Financial Data                                                        
(Dollars in millions, except per share
data; shares in thousands)
                                             
Capital                                          December 31         September 30         December 31
Management                                       2012                2012                 2011
Risk-based
capital ^(5):
Tier 1 common                                    $ 133,403           $ 136,406            $  126,690
capital ^(6)
Tier 1 common
capital ratio                                    11.06       %       11.41       %        9.86       %
^(6)
Tier 1                                           7.36                7.84                 7.53
leverage ratio
Tangible
equity ratio                                     7.62                7.85                 7.54
^(7)
Tangible
common equity                                    6.74                6.95                 6.64
ratio ^(7)
                                                                                          
Period-end
common shares                                    10,778,264          10,777,267           10,535,938
issued and
outstanding
                                                                                          
Basel 1 to
Basel 3                                          December 31         September 30
Reconciliation                                   2012                2012
^(8)
Regulatory
capital –
Basel 1 to
Basel 3 (fully
phased-in)
Basel 1 Tier 1                                   $ 155,461           $ 163,063
capital
Deduction of
preferred
stock,
non-qualifying
preferred
stock and                                        (22,058     )       (26,657     )
minority
interest in
equity
accounts of
consolidated
subsidiaries
Basel 1 Tier 1                                   133,403             136,406
common capital
Deduction of
defined                                          (737        )       (1,709      )
benefit
pension assets
Change in
deferred tax
asset and
other
threshold                                        (3,020      )       (1,102      )
deductions
(MSRs and
significant
investments)
Change in all
other                                            (1,020      )       1,040       
deductions,
net
Basel 3 (fully
phased-in)                                       $ 128,626          $ 134,635   
Tier 1 common
capital
                                                                                          
Risk-weighted
assets – Basel
1 to Basel 3
(fully
phased-in)
Basel 1                                          $ 1,205,660         $ 1,195,722
Net change in
credit and
other                                            103,401             216,244
risk-weighted
assets
Increase due
to market risk                                   81,811             88,881      
amendment
Basel 3 (fully                                   $ 1,390,872        $ 1,500,847 
phased-in)
                                                                                          
Tier 1 common
capital ratios
Basel 1                                          11.06       %       11.41       %
Basel 3 (fully                                   9.25                8.97
phased-in)
                                                                                          
                 Year Ended                      Fourth              Third                Fourth
                 December 31                     Quarter             Quarter              Quarter
                 2012          2011              2012                2012                 2011
Common shares    242,326       450,783           997                 398                  401,506
issued ^ (9)
Average common
shares issued    10,746,028    10,142,625        10,777,204          10,776,173           10,281,397
and
outstanding
Average
diluted common
shares issued    10,840,854    10,254,824        10,884,921          10,776,173           11,124,523
and
outstanding
Dividends paid
per common       $    0.04     $    0.04         $ 0.01              $ 0.01               $  0.01
share
                                                                                          
Summary                                          December 31         September 30         December 31
Period-End                                       2012                2012                 2011
Balance Sheet
Total loans                                      $ 907,819           $ 893,035            $  926,200
and leases
Total debt                                       336,387             345,847              311,416
securities
Total earning                                    1,788,305           1,756,257            1,704,855
assets
Total assets                                     2,209,974           2,166,162            2,129,046
Total deposits                                   1,105,261           1,063,307            1,033,041
Total
shareholders’                                    236,956             238,606              230,101
equity
Common
shareholders’                                    218,188             219,838              211,704
equity
Book value per
share of                                         $ 20.24             $ 20.40              $  20.09
common stock
Tangible book
value per
share of                                         13.36               13.48                12.95
common stock
^(2)

(1) Excludes merger and restructuring charges and goodwill impairment charges.

(2) Return on average tangible shareholders’ equity and tangible book value
per share of common stock are non-GAAP financial measures. We believe the use
of these non-GAAP financial measures provides additional clarity in assessing
the results of the Corporation. Other companies may define or calculate
non-GAAP financial measures differently. See Reconciliations to GAAP Financial
Measures on pages 25-28.

(3) Ratios do not include loans accounted for under the fair value option
during the period. Charge-off ratios are annualized for the quarterly
presentation.

(4) Balances do not include past due consumer credit card, consumer loans
secured by real estate where repayments are insured by the Federal Housing
Administration and individually insured long-term stand-by agreements
(fully-insured home loans), and in general, other consumer and commercial
loans not secured by real estate; purchased credit-impaired loans even though
the customer may be contractually past due; nonperforming loans held-for-sale;
nonperforming loans accounted for under the fair value option; and nonaccruing
troubled debt restructured loans removed from the purchased credit-impaired
portfolio prior to January 1, 2010.

(5) Reflects preliminary data for current period risk-based capital.

(6) Tier 1 common equity ratio equals Tier 1 capital excluding preferred
stock, trust preferred securities, hybrid securities and minority interest
divided by risk-weighted assets.

(7) Tangible equity ratio equals period-end tangible shareholders’ equity
divided by period-end tangible assets. Tangible common equity equals
period-end tangible common shareholders’ equity divided by period-end tangible
assets. Tangible shareholders’ equity and tangible assets are non-GAAP
financial measures. We believe the use of these non-GAAP financial measures
provides additional clarity in assessing the results of the Corporation. Other
companies may define or calculate non-GAAP financial measures differently. See
Reconciliations to GAAP Financial Measures on pages 25-28.

(8) Basel 3 estimates are based on the U.S. Basel 3 Advanced NPR.

(9) Includes 400 million of common shares issued as part of the exchange of
trust preferred securities and preferred stock during the fourth quarter of
2011.

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

  This information is preliminary and based on company data available at the
                          time of the presentation.


Bank of America Corporation and Subsidiaries
Quarterly Results by Business Segment
(Dollars in millions)
               Fourth Quarter 2012
                  Consumer &        Consumer
                                                      Global            Global                             All
                  Business       Real Estate                                 GWIM          
                                                      Banking           Markets                            Other
                  Banking           Services
Total
revenue,
net of
interest          $ 7,204           $ 468             $ 4,326           $ 2,844          $ 4,194           $ (145    )
expense
(FTE basis)
^(1)
Provision
for credit        963               485               180               16               112               448
losses
Noninterest       4,121             5,629             1,946             2,498            3,195             971
expense
Net income        1,428             (3,722    )       1,432             152              578               864
(loss)
Return on
average           10.48     %       n/m               12.47     %       3.39     %       12.43     %       n/m
allocated
equity
Return on
average
economic          23.94             n/m               27.32             4.63             28.46             n/m
capital ^
(2)
Balance
Sheet
Average
Total loans       $ 132,421         $ 97,912          $ 278,218         n/m              $ 103,785         $ 245,820
and leases
Total             486,467           n/m               268,045           n/m              249,658           36,939
deposits
Allocated         54,194            12,525            45,729            $ 17,859         18,508            89,697
equity
Economic
capital           23,777            12,525            20,880            13,210           8,149             n/m
^(2)
Period end
Total loans       $ 134,657         $ 95,972          $ 288,261         n/m              $ 105,928         $ 240,667
and leases
Total             498,669           n/m               269,738           n/m              266,188           36,061
deposits
                                                                                                           
                  Third Quarter 2012
                  Consumer &        Consumer
                                                      Global            Global                             All
                  Business          Real Estate                                          GWIM
                                                      Banking           Markets                            Other
                  Banking           Services
Total
revenue,
net of
interest          $ 7,070           $ 3,096           $ 4,146           $ 3,109          $ 4,083           $ (847    )
expense
(FTE basis)
^(1)
Provision
for credit        970               264               68                21               61                390
losses
Noninterest       4,061             4,223             2,021             2,548            3,128             1,563
expense
Net income        1,285             (876      )       1,296             (359     )       562               (1,568    )
(loss)
Return on
average           9.47      %       n/m               11.15     %       n/m              12.27     %       n/m
allocated
equity
Return on
average
economic          21.77             n/m               24.14             n/m              28.81             n/m
capital
^(2)
Balance
Sheet
Average
Total loans       $ 133,881         $ 103,708         $ 267,390         n/m              $ 101,016         $ 254,894
and leases
Total             480,342           n/m               252,226           n/m              241,411           39,262
deposits
Allocated         53,982            13,332            46,223            $ 17,070         18,229            87,203
equity
Economic
capital           23,535            13,332            21,371            12,419           7,840             n/m
^(2)
Period end
Total loans       $ 133,308         $ 99,890          $ 272,052         n/m              $ 102,390         $ 251,345
and leases
Total             486,857           n/m               260,030           n/m              243,518           37,554
deposits
                                                                                                           
                  Fourth Quarter 2011
                  Consumer &        Consumer
                                                      Global            Global                             All
                  Business          Real Estate                                          GWIM
                                                      Banking           Markets                            Other
                  Banking           Services
Total
revenue,
net of
interest          $ 7,606           $ 3,275           $ 4,002           $ 1,807          $ 3,943           $ 4,513
expense
(FTE basis)
^(1)
Provision
for credit        1,297             1,001             (256      )       (18      )       118               792
losses
Noninterest       4,429             4,569             2,136             2,895            3,392             2,101
expense
Net income        1,242             (1,442    )       1,337             (768     )       272               1,350
(loss)
Return on
average           9.30      %       n/m               11.51     %       n/m              6.22      %       n/m
allocated
equity
Return on
average
economic          22.08             n/m               25.06             n/m              16.02             n/m
capital
^(2)
Balance
Sheet
Average
Total loans       $ 147,150         $ 116,993         $ 276,850         n/m              $ 97,722          $ 277,744
and leases
Total             459,819           n/m               240,757           n/m              237,098           58,946
deposits
Allocated         53,004            14,757            46,087            $ 19,806         17,366            77,215
equity
Economic
capital           22,417            14,757            21,188            15,154           6,914             n/m
^(2)
Period end
Total loans       $ 146,378         $ 112,359         $ 278,177         n/m              $ 98,654          $ 272,385
and leases
Total             464,264           n/m               246,360           n/m              240,540           45,532
deposits

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

(2) Return on average economic capital is calculated as net income adjusted
for cost of funds and earnings credits and certain expenses related to
intangibles, divided by average economic capital. Economic capital represents
allocated equity less goodwill and a percentage of intangible assets
(excluding mortgage servicing rights). Economic capital and return on average
economic capital are non-GAAP financial measures. We believe the use of these
non-GAAP financial measures provides additional clarity in assessing the
results of the segments. Other companies may define or calculate these
measures differently. See Reconciliations to GAAP Financial Measures on pages
25-28.

n/m = not meaningful

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

  This information is preliminary and based on company data available at the
                          time of the presentation.


Bank of America Corporation and Subsidiaries
Annual Results by Business Segment
(Dollars in                                                                           
millions)
              Year Ended December 31, 2012
              Consumer &        Consumer
                                                  Global            Global                             All
              Business          Real Estate                                          GWIM
                                                  Banking           Markets                            Other
              Banking           Services
Total
revenue,
net of
interest      $ 29,023          $ 8,759           $ 17,207          $ 13,519         $ 16,517          $ (790    )
expense
(FTE basis)
^(1)
Provision
for credit    3,941             1,442             (103      )       3                266               2,620
losses
Noninterest   16,793            17,306            8,308             10,839           12,755            6,092
expense
Net income    5,321             (6,507    )       5,725             1,054            2,223             (3,628    )
(loss)
Return on
average       9.92      %       n/m               12.47     %       5.99     %       12.53     %       n/m
allocated
equity
Return on
average
economic      23.01             n/m               27.21             8.20             30.52             n/m
capital
^(2)
Balance
Sheet
Average
Total loans   $ 136,171         $ 104,754         $ 272,625         n/m              $ 100,456         $ 258,012
and leases
Total         477,440           n/m               249,317           n/m              242,384           43,083
deposits
Allocated     53,646            13,687            45,907            $ 17,595         17,739            87,103
equity
Economic
capital       23,178            13,687            21,053            12,956           7,359             n/m
^(2)
Period end
Total loans   $ 134,657         $ 95,972          $ 288,261         n/m              $ 105,928         $ 240,667
and leases
Total         498,669           n/m               269,738           n/m              266,188           36,061
deposits
                                                                                                       
              Year Ended December 31, 2011
              Consumer &        Consumer
                                                  Global            Global                             All
              Business          Real Estate                                          GWIM
                                                  Banking           Markets                            Other
              Banking           Services
Total
revenue,
net of
interest      $ 32,880          $ (3,154  )       $ 17,312          $ 14,798         $ 16,495          $ 16,095
expense
(FTE basis)
^(1)
Provision
for credit    3,490             4,524             (1,118    )       (56      )       398               6,172
losses
Noninterest   17,719            21,791            8,884             12,244           13,383            6,253
expense
Net income    7,447             (19,465   )       6,046             988              1,718             4,712
(loss)
Return on
average       14.07     %       n/m               12.76     %       4.36     %       9.90      %       n/m
allocated
equity
Return on
average
economic      33.52             n/m               26.59             5.54             25.46             n/m
capital
^(2)
Balance
Sheet
Average
Total loans   $ 153,641         $ 119,820         $ 265,568         n/m              $ 96,974          $ 289,010
and leases
Total         462,087           n/m               237,312           n/m              241,535           62,582
deposits
Allocated     52,908            16,202            47,384            $ 22,671         17,352            72,578
equity
Economic
capital       22,273            14,852            22,761            18,046           6,866             n/m
^(2)
Period end
Total loans   $ 146,378         $ 112,359         $ 278,177         n/m              $ 98,654          $ 272,385
and leases
Total         464,264           n/m               246,360           n/m              240,540           45,532
deposits

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

(2) Return on average economic capital is calculated as net income adjusted
for cost of funds and earnings credits and certain expenses related to
intangibles, divided by average economic capital. Economic capital represents
allocated equity less goodwill and a percentage of intangible assets
(excluding mortgage servicing rights). Economic capital and return on average
economic capital are non-GAAP financial measures. We believe the use of these
non-GAAP financial measures provides additional clarity in assessing the
results of the segments. Other companies may define or calculate these
measures differently. See Reconciliations to GAAP Financial Measures on pages
25-28.

n/m = not meaningful

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

  This information is preliminary and based on company data available at the
                          time of the presentation.


Bank of America Corporation and Subsidiaries
Supplemental                                                         
Financial Data
(Dollars in                                                             
millions)
Fully
taxable-equivalent Year Ended                    Fourth           Third            Fourth
(FTE) basis data   December 31                   Quarter          Quarter          Quarter
^(1)                                             2012             2012             2011
                   2012         2011
Net interest       $ 41,557     $ 45,588         $ 10,555         $ 10,167         $ 10,959
income
Total revenue, net
of interest        84,235       94,426           18,891           20,657           25,146
expense
Net interest yield 2.35     %   2.48     %       2.35     %       2.32     %       2.45     %
^(2)
Efficiency ratio   85.59        85.01            97.19            84.93            77.64
                                                                                   
                                                                                   
                                                 December         September        December
Other Data                                       31               30               31
                                                 2012             2012             2011
Number of banking                                5,478            5,540            5,702
centers - U.S.
Number of branded                                16,347           16,253           17,756
ATMs - U.S.
Ending full-time
equivalent                                       267,190          272,594          281,791
employees

(1) FTE basis is a non-GAAP financial measure. FTE basis is a performance
measure used by management in operating the business that management believes
provides investors with a more accurate picture of the interest margin for
comparative purposes. See Reconciliations to GAAP Financial Measures on pages
25-28.

(2) Calculation includes fees earned on overnight deposits placed with the
Federal Reserve and, beginning in the third quarter of 2012, deposits,
primarily overnight, placed with certain non-U.S. central banks of $189
million and $186 million for the years ended December31, 2012 and 2011; $42
million and $48 million for the fourth and third quarters of 2012,
respectively, and $36 million for the fourth quarter of 2011.

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

  This information is preliminary and based on company data available at the
                          time of the presentation.

Bank of America Corporation and Subsidiaries
Reconciliations to GAAP Financial Measures
(Dollars in millions)

The Corporation evaluates its business based on a fully taxable-equivalent
basis, a non-GAAP financial measure. The Corporation believes managing the
business with net interest income on a fully taxable-equivalent basis provides
a more accurate picture of the interest margin for comparative purposes. Total
revenue, net of interest expense, includes net interest income on a fully
taxable-equivalent basis and noninterest income. The Corporation views related
ratios and analyses (i.e., efficiency ratios and net interest yield) on a
fully taxable-equivalent basis. To derive the fully taxable-equivalent basis,
net interest income is adjusted to reflect tax-exempt income on an equivalent
before-tax basis with a corresponding increase in income tax expense. This
measure ensures comparability of net interest income arising from taxable and
tax-exempt sources. The efficiency ratio measures the costs expended to
generate a dollar of revenue, and net interest yield evaluates the basis
points the Corporation earns over the cost of funds.

The Corporation also evaluates its business based on the following ratios that
utilize tangible equity, a non-GAAP financial measure. Return on average
tangible common shareholders’ equity measures the Corporation’s earnings
contribution as a percentage of average common shareholders’ equity less
goodwill and intangible assets (excluding mortgage servicing rights), net of
related deferred tax liabilities. Return on average tangible shareholders’
equity measures the Corporation’s earnings contribution as a percentage of
average shareholders’ equity less goodwill and intangible assets (excluding
mortgage servicing rights), net of related deferred tax liabilities. The
tangible common equity ratio represents ending common shareholders’ equity
less goodwill and intangible assets (excluding mortgage servicing rights), net
of related deferred tax liabilities divided by total assets less goodwill and
intangible assets (excluding mortgage servicing rights), net of related
deferred tax liabilities. The tangible equity ratio represents total ending
shareholders’ equity less goodwill and intangible assets (excluding mortgage
servicing rights), net of related deferred tax liabilities divided by total
assets less goodwill and intangible assets (excluding mortgage servicing
rights), net of related deferred tax liabilities. Tangible book value per
common share represents ending common shareholders’ equity less goodwill and
intangible assets (excluding mortgage servicing rights), net of related
deferred tax liabilities divided by ending common shares outstanding. These
measures are used to evaluate the Corporation’s use of equity (i.e., capital).
In addition, profitability, relationship and investment models all use return
on average tangible shareholders’ equity as key measures to support our
overall growth goals.

In addition, the Corporation evaluates its business segment results based on
return on average economic capital, a non-GAAP financial measure. Return on
average economic capital for the segments is calculated as net income adjusted
for cost of funds and earnings credits and certain expenses related to
intangibles, divided by average economic capital. Economic capital represents
average allocated equity less goodwill and a percentage of intangible assets
(excluding mortgage servicing rights). It also believes the use of this
non-GAAP financial measure provides additional clarity in assessing the
segments.

In certain presentations, earnings and diluted earnings per common share, the
efficiency ratio, return on average assets, return on common shareholders’
equity, return on average tangible common shareholders’ equity and return on
average tangible shareholders’ equity are calculated excluding the impact of
goodwill impairment charges of $581 million and $2.6 billion recorded in the
fourth and second quarters of 2011. Accordingly, these are non-GAAP financial
measures.

See the tables below and on pages 26-28 for reconciliations of these non-GAAP
financial measures with financial measures defined by GAAP for the three
months ended December31, 2012,September30, 2012 and December31, 2011, and
the years ended December31, 2012 and 2011. The Corporation believes the use
of these non-GAAP financial measures provides additional clarity in assessing
the results of the Corporation. Other companies may define or calculate
supplemental financial data differently.

                    Year Ended                  Fourth         Third          Fourth
                     December 31                     Quarter         Quarter         Quarter
                     2012        2011               2012             2012             2011
Reconciliation of net interest income to net interest income on a fully taxable-equivalent basis
                                                                                       
Net interest         $ 40,656     $ 44,616           $ 10,324         $ 9,938          $ 10,701
income
Fully
taxable-equivalent   901         972               231             229             258      
adjustment
Net interest
income on a fully    $ 41,557    $ 45,588          $ 10,555        $ 10,167        $ 10,959 
taxable-equivalent
basis
                                                                                       
Reconciliation of total revenue, net of interest expense to total revenue, net of interest
expense on a fully taxable-equivalent basis
                                                                                       
Total revenue, net
of interest          $ 83,334     $ 93,454           $ 18,660         $ 20,428         $ 24,888
expense
Fully
taxable-equivalent   901         972               231             229             258      
adjustment
Total revenue, net
of interest
expense on a fully   $ 84,235    $ 94,426          $ 18,891        $ 20,657        $ 25,146 
taxable-equivalent
basis
                                                                                       
Reconciliation of total noninterest expense to total noninterest expense, excluding goodwill
impairment charges
                                                                                       
Total noninterest    $ 72,093     $ 80,274           $ 18,360         $ 17,544         $ 19,522
expense
Goodwill             —           (3,184   )         —               —               (581     )
impairment charges
Total noninterest
expense, excluding   $ 72,093    $ 77,090          $ 18,360        $ 17,544        $ 18,941 
goodwill
impairment charges
                                                                                       
Reconciliation of income tax expense (benefit) to income tax expense (benefit) on a fully
taxable-equivalent basis
                                                                                       
Income tax expense   $ (1,116 )   $ (1,676 )         $ (2,636 )       $ 770            $ 441
(benefit)
Fully
taxable-equivalent   901         972               231             229             258      
adjustment
Income tax expense
(benefit) on a
fully                $ (215   )   $ (704   )         $ (2,405 )       $ 999           $ 699    
taxable-equivalent
basis
                                                                                       
Reconciliation of net income to net income, excluding goodwill impairment charges
                                                                                       
Net income           $ 4,188      $ 1,446            $ 732            $ 340            $ 1,991
Goodwill             —           3,184             —               —               581      
impairment charges
Net income,
excluding goodwill   $ 4,188     $ 4,630           $ 732           $ 340           $ 2,572  
impairment charges
                                                                                       
Reconciliation of net income (loss) applicable to common shareholders to net income (loss)
applicable to common shareholders, excluding goodwill impairment charges
                                                                                       
Net income (loss)
applicable to        $ 2,760      $ 85               $ 367            $ (33    )       $ 1,584
common
shareholders
Goodwill             —           3,184             —               —               581      
impairment charges
Net income (loss)
applicable to
common               $ 2,760     $ 3,269           $ 367           $ (33    )       $ 2,165  
shareholders,
excluding goodwill
impairment charges
                                                                                                
Certain prior period amounts have been reclassified to conform to current period presentation.
                                                                                                
This information is preliminary and based on company data available at the time of the
presentation.

Bank of
America
Corporation                                                                      
and
Subsidiaries
Reconciliations to GAAP Financial Measures (continued)
(Dollars in
millions)
                Year Ended                            Fourth              Third               Fourth
                December 31                           Quarter             Quarter             Quarter
                2012           2011                  2012                2012                2011
Reconciliation of average common shareholders’ equity to average tangible common shareholders’ equity
                                                                                              
Common
shareholders’   $ 216,996       $ 211,709             $ 219,744           $ 217,273           $ 209,324
equity
Goodwill        (69,974     )   (72,334     )         (69,976     )       (69,976     )       (70,647     )
Intangible
assets
(excluding      (7,366      )   (9,180      )         (6,874      )       (7,194      )       (8,566      )
mortgage
servicing
rights)
Related
deferred tax    2,593          2,898                2,490              2,556              2,775       
liabilities
Tangible
common          $ 142,249      $ 133,093            $ 145,384          $ 142,659          $ 132,886   
shareholders’
equity
                                                                                              
Reconciliation of average shareholders’ equity to average tangible shareholders’ equity
                                                                                              
Shareholders’   $ 235,677       $ 229,095             $ 238,512           $ 236,039           $ 228,235
equity
Goodwill        (69,974     )   (72,334     )         (69,976     )       (69,976     )       (70,647     )
Intangible
assets
(excluding      (7,366      )   (9,180      )         (6,874      )       (7,194      )       (8,566      )
mortgage
servicing
rights)
Related
deferred tax    2,593          2,898                2,490              2,556              2,775       
liabilities
Tangible
shareholders’   $ 160,930      $ 150,479            $ 164,152          $ 161,425          $ 151,797   
equity
                                                                                              
Reconciliation of period-end common shareholders’ equity to period-end tangible common shareholders’ equity
                                                                                              
Common
shareholders’   $ 218,188       $ 211,704             $ 218,188           $ 219,838           $ 211,704
equity
Goodwill        (69,976     )   (69,967     )         (69,976     )       (69,976     )       (69,967     )
Intangible
assets
(excluding      (6,684      )   (8,021      )         (6,684      )       (7,030      )       (8,021      )
mortgage
servicing
rights)
Related
deferred tax    2,428          2,702                2,428              2,494              2,702       
liabilities
Tangible
common          $ 143,956      $ 136,418            $ 143,956          $ 145,326          $ 136,418   
shareholders’
equity
                                                                                              
Reconciliation of period-end shareholders’ equity to period-end tangible shareholders’ equity
                                                                                              
Shareholders’   $ 236,956       $ 230,101             $ 236,956           $ 238,606           $ 230,101
equity
Goodwill        (69,976     )   (69,967     )         (69,976     )       (69,976     )       (69,967     )
Intangible
assets
(excluding      (6,684      )   (8,021      )         (6,684      )       (7,030      )       (8,021      )
mortgage
servicing
rights)
Related
deferred tax    2,428          2,702                2,428              2,494              2,702       
liabilities
Tangible
shareholders’   $ 162,724      $ 154,815            $ 162,724          $ 164,094          $ 154,815   
equity
                                                                                              
Reconciliation of period-end assets to period-end tangible assets
                                                                                              
Assets          $ 2,209,974     $ 2,129,046           $ 2,209,974         $ 2,166,162         $ 2,129,046
Goodwill        (69,976     )   (69,967     )         (69,976     )       (69,976     )       (69,967     )
Intangible
assets
(excluding      (6,684      )   (8,021      )         (6,684      )       (7,030      )       (8,021      )
mortgage
servicing
rights)
Related
deferred tax    2,428          2,702                2,428              2,494              2,702       
liabilities
Tangible        $ 2,135,742    $ 2,053,760          $ 2,135,742        $ 2,091,650        $ 2,053,760 
assets
                                                                                              
Book value per share of common stock
                                                                                              
Common
shareholders’   $ 218,188       $ 211,704             $ 218,188           $ 219,838           $ 211,704
equity
Ending common
shares issued   10,778,264     10,535,938           10,778,264         10,777,267         10,535,938  
and
outstanding
Book value
per share of    $ 20.24        $ 20.09              $ 20.24            $ 20.40            $ 20.09     
common stock
                                                                                              
Tangible book value per share of common stock
                                                                                              
Tangible
common          $ 143,956       $ 136,418             $ 143,956           $ 145,326           $ 136,418
shareholders’
equity
Ending common
shares issued   10,778,264     10,535,938           10,778,264         10,777,267         10,535,938  
and
outstanding
Tangible book
value per       $ 13.36        $ 12.95              $ 13.36            $ 13.48            $ 12.95     
share of
common stock
                                                                                                          
Certain prior period amounts have been reclassified to conform to current period presentation.
                                                                                                          
This information is preliminary and based on company data available at the time of the presentation.

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