January 15, 2014
Investors May Contact:
Anne Walker, Bank of America, 1.646.855.3644
Lee McEntire, Bank of America, 1.980.388.6780
Jonathan Blum, Bank of America (Fixed Income), 1.212.449.3112

Reporters May Contact:
Jerry Dubrowski, Bank of America, 1.980.388.2840
jerome.f.dubrowski@bankofamerica.com


Bank of America Reports Fourth-quarter 2013 Net Income of $3.4 Billion, or $0.29 per Diluted Share, on Revenue of $21.7 BillionA 

Fourth-quarter 2013 Results Included
Pretax Negative DVA/FVO Adjustments of $0.6 Billion due to Tightening of the Company's Credit Spreads
Pretax Litigation Expense of $2.3 Billion
Effective Tax Rate of 10.6 Percent

Fourth-quarter 2013 Highlights Compared to Year-ago Quarter
Period-end Consolidated Deposit Balances Increased $14 Billion to Record $1.12 Trillion
Period-end Loan Balances Increased $20 Billion to $928 Billion
Combined Debit and Consumer Credit Card Spending Rose 4.0 Percent to $123 Billion
Period-end Commercial Loan Balances Increased $42 Billion to $396 Billion
Global Wealth and Investment Management Pretax Margin Increased to 26.6 Percent From 21.1 Percent
Record Global Banking Revenue of $4.3 Billion, up 9 Percent
Achieved New BAC and Legacy Assets and Servicing 2013 Cost Savings Targets
Credit Quality Continued to Improve With Net Charge-offs Down 49 Percent; Ratio at 0.68 Percent
Basel 1 Tier 1 Common Capital of $145 Billion, Ratio of 11.19 Percent
Basel 3 Tier 1 Common Capital Ratio of 9.96 Percent, up From 9.25 PercentD 

Full-year 2013 Highlights Compared to Full-year 2012
Nearly $90 Billion in Residential Home Loans and Home Equity Loans Funded in 2013
More Than 3.9 Million New Consumer Credit Cards Issued in 2013
Record Earnings of $3 Billion in Global Wealth and Investment Management
Bank of America Merrill Lynch Gained Market Share and Maintained No. 2 Ranking in Global Investment Banking FeesC 
Liquidity Remained Strong at $376 Billion; Parent Company Time-to-required Funding Improved to 38 Months From 33 Months
Initiated Capital Return to Shareholders Through Repurchase of $3.2 Billion of Common Stock at an Average Price of $13.90 per Share

More


The following information was filed by Bank Of America Corp (BAC) on Wednesday, January 15, 2014 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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