Bank of America | Annual Report (2006)

Bank of America Corporation (NYSE: BAC) is a publicly traded company headquartered in Charlotte, NC, that operates throughout the United States and 44 foreign countries. The corporation provides a diversified range of banking and nonbanking financial services and products domestically and internationally through three business segments: Global Consumer & Small Business Banking, Global Corporate & Investment Banking and Global Wealth & Investment Management.

(Dollars in millions, except per share information)


	Year Ended Dec. 31
For the year	2006	2005
Revenue*	$74,247	$56,923
Net income	21,133	16,465
Shareholder value added	9,121	6,594
Earnings per common share	4.66	4.10
Diluted earnings per common share	4.59	4.04
Dividends paid per common share	2.12	1.90
Return on average assets	1.44 %	1.30 %
Return on average common shareholders' equity	16.27 %	16.51 %
Efficiency ratio*	47.94 %	50.38 %
Average common shares issued and outstanding (in millions)	4,527	4,009


At year end	2006	2005
Total assets	$1,459,737	$1,291,803
Total loans and leases	706,490	573,791
Total deposits	693,497	634,670
Total shareholders' equity	135,272	101,533
Book value per common share	29.70	25.32
Market price per share of common stock	53.39	46.15
Common shares issued and outstanding (in millions)	4,458	4,000

*Fully taxable-equivalent basis

**All Other consists primarily of Equity Investments and Other. For more information, refer to All Other section in the Management's Discussion and Analysis.

Total Cumulative Shareholder Return For Five-Year Period Ending December 31st, 2006*, Bank of America Corporation (BAC), 2001 $100, 2002 $115, 2003 $138, 2004 $167, 2005 $171, 2006 $207; Standard & Poor's 500 Composite (SPX), 2001 $100, 2002 $78, 2003 $100, 2004 $111, 2005 $117, 2006 $135; Standard & Poor's 500 Commercial Banks Index, 2001 $100, 2002 $99, 2003 $129, 2004 $149, 2005 $151, 2006 $175

Annual High, Low, and Close in Bank of America Corporation (BAC) shares: 2002 Hi: $38.45 Low: $27.08 Close: $34.79, 2003 Hi: $41.77 Low: $32.82 Close: $40.22, 2004 Hi: $47.44 Low: $38.96 Close: $46.99, 2005 Hi: $47.08 Low: $41.57 Close: $46.15, 2006 Hi: $54.90 Low: $43.09 Close: $53.39

***The graph compares the yearly change in the corporation's cumulative total stockholders' return on its common stock with (i) Standard & Poor's 500 Index and (ii) Standard & Poor's 500 Commercial Banks Index for the years ended 2002 to 2006. The graph assumes an initial investment of $100 at the end of 2001 and the reinvestment of all dividends during the periods indicated.