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

January 17, 2013

January 17, 2012 – (RealEstateRama) — 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 December 31, 2012
Estimated Basel 3 Tier 1 Common Capital Ratio of 9.25 Percent at December 31, 2012 (U.S. Basel 3 NPRs Fully Phased-in)A
Long-term Debt Down $96.7 Billion From December 31, 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

Contact:

Investors May Contact:
Kevin Stitt, Bank of America, 1.980.386.5667
Lee McEntire, Bank of America, 1.980.388.6780
Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840