Bank of America announces its acquisition of LaSalle Bank. The $21 billion all-cash deal will make Bank of America the leader in the Chicago and Detroit markets, gaining immediate access to 1.3 million retail households and 17,000 commercial clients. The acquisition is expected to be accretive to Bank of America's earnings per share and generate an internal rate of return of 17%. The combined company will have over $1.6 trillion in total managed assets and provide better capabilities and products to customers across both companies.

1. Bank of America Acquires LaSalle Bank
Ken Lewis Joe Price
Chairman, CEO and President Chief Financial Officer
Liam McGee David Darnell
President - Global Consumer & President - Commercial Lending
Small Business Banking
April 23, 2007

2. Forward Looking Statements
This presentation contains forward-looking statements, including statements about the
financial conditions, results of operations and earnings outlook of Bank of America
Corporation. The forward-looking statements involve certain risks and uncertainties. Factors
that may cause actual results or earnings to differ materially from such forward-looking
statements include, among others, the following: 1) projected business increases following
process changes and other investments are lower than expected; 2) competitive pressure
among financial services companies increases significantly; 3) general economic conditions
are less favorable than expected; 4) political conditions including the threat of future terrorist
activity and related actions by the United States abroad may adversely affect the company’s
businesses and economic conditions as a whole; 5) changes in the interest rate environment
reduce interest margins and impact funding sources; 6) changes in foreign exchange rates
increases exposure; 7) changes in market rates and prices may adversely impact the value of
financial products; 8) legislation or regulatory environments, requirements or changes
adversely affect the businesses in which the company is engaged; 9) changes in accounting
standards, rules or interpretations, 10) litigation liabilities, including costs, expenses,
settlements and judgments, may adversely affect the company or its businesses; 11) mergers
and acquisitions and their integration into the company; and 12) decisions to downsize, sell or
close units or otherwise change the business mix of any of the company. For further
information regarding Bank of America Corporation, please read the Bank of America reports
filed with the SEC and available at www.sec.gov.
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3. One time opportunity to capture leadership positions in 2 of
the Top 10 markets in the US – the best economy in the world
• LaSalle, a well-positioned Midwest franchise
• Commercial bank with attractive retail growth opportunities
• Unmatched convenience offering for customers
• Opportunity for broadened product offerings and franchise extension
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4. Overview - LaSalle
• Top 20 US bank holding company
– Assets of $113 billion (BAC $1.5 trillion)
– Domestic deposits of $57 billion (BAC $599 billion domestic)
• 15th largest US deposit based institution
• 47% Retail ($27 billion)
– Approximately 15,000 employees
• Commercial Banking
– 17,000 clients (BAC 140,000 clients)
– Middle Market Lending; Asset-based lending; Asset securitization; Leasing; Real estate
finance
– 40 offices
• Retail presence
– 1.3 million retail households (BAC 55 million households)
– 96,000 small business relationships
– 36,000 wealth management clients (BAC approximately 800,000)
– 411 well-located retail branches
– Approximately 1,500 ATMs
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5. Unique Opportunity
• Gain immediate leadership positions in 2 of the top 10 MSAs
• Offer broader product suite and convenience to consumer
customer base
• Better leverage retail distribution network to drive consumer
growth
• Immediate access to Chicago wealth market
• Provide broader capabilities and financial solutions to
commercial customers
• Proven track record of integrations
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6. LaSalle Historic Strength was Commercial Banking
• Strong relationship driven commercial franchise
• Primary Services
– Middle market lending
– Commercial real estate
– Asset-based lending
– Leasing
• Approximately 17,000 clients ranging from $10mm to $5bb in revenues
• General commercial banking coverage and 12 industry specialty
groups
• Particular strength in home markets of Chicago and Eastern Michigan
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7. Opportunities in Commercial Banking
• Treasury Services
– LaSalle – 14% deposit to loan ratio
– Bank of America – 54% deposit to loan ratio
• Client Management Process
– Deepen relationships
– Products per relationship
– Investment banking/International
• Improve efficiency in line with Bank of America
– Bank of America (36%) vs LaSalle (55%)
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8. Expanding the Bank of America Franchise
Branches ATMs
Bank of America 5,737 17,117
LaSalle 411 1,500
Combined 6,148 18,717
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9. Leadership Position in 3rd and 10th Largest Markets
Top 10 Markets - Based on 2006 Population
Markets July 2006
New York 18.8 MM
Los Angeles 13.0 MM
Chicago 9.5 MM
Dallas 6.0 MM
Philadelphia 5.8 MM
Houston 5.5 MM
Miami 5.5 MM
Washington DC 5.3 MM
Atlanta 5.1 MM
Detroit 4.5 MM
Source: Proximity based on official Census Bureau county (MSA) estimates released March 2007.
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10. LaSalle Retail Bank
LaSalle Retail Bank
All Other
Chicago Detroit Michigan Total
Consumer Households(1) (in 000s) 408 344 518 1,270
Small Business HHs (in 000s) 94
Wealth Mgt / Premier HHs (in 000s) 36
Banking Centers 141 160 110 411
ATMs (1) 450 632 418 1,500
Retail Deposits(1) ($ in B) $14.0 $5.2 $7.8 $27.0
Retail Deposit Share 9.3% 8.7% 17.3% 10.6%
% of Earnings (FY 2006) 63% 15% 22%
(1)
Estimated
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11. LaSalle Franchise
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12. Detroit - Market Overview
Detroit Market
• 10th largest Market
• 1.7 MM Households
• 1.5% Household growth
• $71K average Household Income
Market Opportunity
• $60 billion in Retail Balances
• $27 billion in 1st Mortgage Originations
• $3 billion in Home Equity Line of Credit
Originations
• $11 billion in Card oustanding balances
* Full Year 2006
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13. Chicago - Market Overview
Chicago Market
• 3rd largest Market
• 3.5 MM Households
• 3.6% Household growth
• $77K average Household Income
Market Opportunity
• $150 billion in Retail Balances
• $94 billion in 1st Mortgage Originations
• $14 billion in Home Equity Line of
Bank of America Credit Originations
LaSalle
• $25 billion in Card oustanding balances
* Full Year 2006
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14. New Bank of America - Chicago
BAC LaSalle New BAC
Chicago Chicago Chicago
Consumer Households(1) (in 000s) 150 408 558
Banking Centers 56 141 197
ATMs 231 450 681
Retail Deposits ($ in B) $1.7 $14.0 $15.7
Retail Deposit Share 1.1% 9.3% 10.4%
(1)
BAC Deposit HHs Only
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15. Market Leadership – Platform for Growth
Retail Deposit Balance Share1
27%
25%
24% 24%
23% 23% 23% 22%
Retail Balance Share 1
17% 17%
16%
14%
9% 10% 9%
4%
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Bank of America LaSalle
1 Source: June 2006 FDIC /(MSA defined geographies) & SNL for midwest MSA data adjusted to reflect retail balances
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16. How We Will Grow the LaSalle Franchise
• Bank of America Brand
– Highest Unaided Awareness
– Unparallel Customer Convenience
• Largest Banking Center Distribution
• Largest ATM Network
• #1 Online Bank
• Bank of America National Retail Operating Model
– Customer Centric Culture
– Consistent Sales, Service and Operating Processes
– Performance Management and Accountability
• Bank of America Broad and Innovative Product Set
– Keep the Change
– No Fee Mortgage Plus
– Affinity Products
– Business 24/7
• Proven Track Record of Execution and Growth
– Fleet Northeast Success
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17. Proven Track Record – Legacy Fleet Sales Productivity
Legacy Fleet Sales per Day per Banking Center
12 CAGR – 18% 11.2
Sales per Day per Banking Center
10
8.4 8.5
8 6.8
6
4
2
-
2003 2004 2005 2006
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18. Financial Highlights
2006 Financial Highlights
$ in billions
LaSalle BAC Combined
Managed revenue $ 3.8 $ 77.6 $ 81.4
Expenses 2.5 35.6 38.1
1
Net income 0.7 21.1 21.8
Managed Loans 62.0 818.0 880.0
Total Managed Assets 113.0 1,571.1 1,684.1
Domestic Deposits 57.0 598.0 655.0
1 Earnings from acquired businesses
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19. Terms of Transaction
Transaction: 100% of LaSalle Bank
Price: $ 21 Billion
Excess Capital to BAC 5 Billion
Transaction Value $ 16 Billion
Financing: Cash
Due Diligence: Completed
Expected Closing: Late 4Q07 – early 1Q08
BAC Approvals: Normal regulatory
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20. Transaction Summary
• Internal Rate of Return of 17%
• Shareholder Value Added
– Breakeven in Year 2
• Immediately accretive to EPS
– 2% accretive in Year 1
– 5% accretive with fully phased in synergies
• Day 1 Capital ratio projections
– Regulatory Tier 1 - 7.5% (3/31/07 - 8.57%)
– Tangible equity ratio - 3.8% (3/31/07 - 4.20%)
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21. Price in Line with Recent Deals
Comparable
Pricing Measure LaSalle Deals1
Price / 2007 Earnings 21.3 x 16.3 x
Price / Adj. 2007 Earnings 2 10.2 x N/A
Price / Book Value 2.2 x 2.6 x
Price / Tang. Book Value 3.4 x 3.7 x
Premium / Deposits 23 % 33 %
1 BAS analysis of recent deals
2 2006 earnings from acquired businesses assumed growth rate of 8.6% in 2007 with fully-phased in after-tax cost savings of $800mm
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22. Financial Assumptions
• Transaction expected to close in fourth quarter 2007 or early 2008
• Bring LaSalle business efficiency ratios in line with BAC respective
businesses ($1.250 billion pre-tax)
– 50% realized in Year 1
– Fully realized in Year 2
• Revenue opportunities drive net improvement $250 mm (pre-tax)
– 10% in Year 1, 30% Year 2, 70% Year 3, 100% Year 4
• Higher intangible amortization of approximately $40 million
• After-tax restructuring charge of $800 million
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23. Modeling and Internal Rate of Return
2007 2008 2009 2010 2011 2012
Total Consideration (21,000)
Excess Capital 5,000
Merger Charge (800)
Cash Earnings 800 875 950 1,025 $1,100
Cost Savings - After Tax 400 800 800 800 800
Revenue driven synergies 20 50 100 160 175
Cash Flows 420 1,725 1,850 1,985 2,075
Terminal Value at 11.8x earnings 24,485
Total Cash Flows (16,000) 420 1,725 1,850 1,985 26,560
IRR 17%
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24. One time opportunity to capture leadership positions in 2 of
the Top 10 markets in the US – the best economy in the world
• LaSalle, a well-positioned Midwest franchise
• Commercial bank with attractive retail growth opportunities
• Unmatched convenience offering for customers
• Opportunity for broadened product offerings and franchise extension
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