美国银行

RetirementPlanningCheckingCommercialBankingIPO2010AnnualReportOpportunitiesareeverywhereWebuiltBankofAmericatomeetthefullrangeoffinancialneedsforpeople,businessesandinstitutionalinvestors;toattractthebestemployeestoserveourcustomersandclients;tosupportthecommunitieswherewedobusiness;andtocreatelong-termvalueforourshareholders.Today’sBankofAmericaisafinancialservicesleaderservingcustomersandclientsworldwide.Wehelpthemtoseeandactonopportunitiestoachievetheirgoalsbydeliveringvalue,convenience,expertiseandinnovation.1DearShareholders,OpportunitySeized:BankofAmericahasthebestfranchiseintheindustrywithnumberoneortwopositionsinthebusinesssegmentsinwhichwecompeteandthelargestcustomerandclientbaseinourindustry.DearShareholders,Ourworkin2010wasfocusedontwokeygoals:first,rebalancingandrealigningourcompanysowecanserveourcustomersandclientswiththebroadestandbestfinancialservicesintheindustry;andsecond,strengtheningourbalancesheetandcapitalpositiontocreatetherightconditionsforgrowthinlong-termshareholdervalue.Thisworkiswellunderway,andwearemakingsignificantprogress.Asaresult,weareamuchstrongercompanytodaythanwewereayearago.Wehaveavisionforourcompany,astrategytoachievethatvisionandwell-definedoperatingprinciplestohelpguideourworkaswepursueourgoals.Theseareimportanttounderstandinghowweintendtooperatethecompany,servecustomersandclients,andreturnvaluetoshareholders.OurVisionandStrategyOurvisionisforBankofAmericatobetheworld’sfinestfinancialservicescompany.Wethinkthatthisisanappropriateandachievablegoal.Ifirmlybelievethatwehaveallthebusinessesandcapabilitiesinplacetomeetthecorefinancialneedsofcustomersandclientsmoreeffectivelythananyothercompany.Oursuccessinrealizingthisvisionwillbemeasuredbyourcustomers,byourownemployeesandbyyou,theshareholder.We’llknowwearesucceedingwhenourcustomerschoosetobringusmoreoftheirbusiness,andmakeustheirprimaryfinancialinstitution;whenemployeeschoosetobuildtheircareershere,becausetheycanachieveanythingtheysetouttodo;andwhenshareholdersrealizethelong-termvaluethisfranchisecandeliver.Thatmeanssolidreturnsonequityandassets,steadygrowthintangiblebookvaluepershare,attractivetotalshareholderreturns,andconsistentperformancethrougheconomiccycles.OpportunitySeized:BankofAmericahasthebestfranchiseintheindustrywithnumberoneortwopositionsinthebusinesssegmentsinwhichwecompeteandthelargestcustomerandclientbaseinourindustry.2Topursueourvision,wehavelaidoutaclearstrategy.Weemergedfromtheeconomicdownturnasaglobalfinancialservicescompanywithleadingpositionsinallourmajorbusinesses.WeserveoneintwohouseholdsintheU.S.andoperateinmorethan40countries,withnearly300,000employeesaroundtheworld.Despiteourglobalscaleandreach,ourstrategyisrelativelystraightforward.Weservethreecustomergroups:people,businessesofallsizes,andinstitutionalinvestors.Foreachofthesegroups,weprovidecorefinancialservices.Weservepeoplewitharangeoffinancialservices,fromsecuredandunsecuredlending,todeposit,checkingandsavingsaccounts.Weserveparentswhowanttohelptheirchildrenopentheirfirstsavingsaccounts,youngpeoplegraduatingfromschoolandsettingupcheckingandretire-mentaccounts,andthewealthiestfamiliesintheworldwithcomplexmultigenerationalwealthmanagementneeds.Wehelpcompaniesofallsizesgrowbyhelpingthemtransact,managetheircash,accessthedebtandequitymarkets,andmanagetheriskofcurrencyandinterestratefluctuations.Weprovidestrategicadvicefortransactionssuchaspublicofferings,andmergersandacquisitions.Ourinstitutionalinvestorclientsrelyonourresearchtoidentifyopportunitiestoinvestwiselyandconfidently.Wehelpthemexecutetheirtransactionsandconnectthemwiththeglobalfinancialmarketsthroughoursalesandtradingtechnology.Nootherfinancialservicescompanyhasassembledthisbreadthofcapabilitiesforallofthecustomergroupsweserve.And,ourcapabilitiesareatornearthetopoftheindustryineverycorefinancialproductandserviceweoffer.WeprovidethefullrangeofthesefinancialservicesforallthreecustomergroupsintheUnitedStates.OutsidetheU.S.,wedelivercorporateandinvestmentbanking,globalmarketsandwealthmanagementservicestobusinessclients,institutionalinvestorsandwealthyindividuals.OurCardServicesbusinessalsoservescustomersinCanada,Ireland,theU.K.andSpain.Werunthefranchiseforeverycustomerinfull,deliveringalloftheservicestheymayhavetraditionallysoughtseparatelyfromaretailbank,acommercialbank,aninvestmentbank,Customershavemanyvaluablechoicesforhowtobankwithus—agreatbaseforbuildinganyrelationship.Byattractingnewcustomersandmorebusinessfromexistingcustomers,ourdepositbalancescontinuetogrow,topping$1trillionattheendof2010.BrianT.Moynihan,ChiefExecutiveOfficerBankofAmericaOperatingPrinciples• We are customer-driven• We are building and will maintain a fortress balancesheet• We are pursuing operational excellence in bothefficiencyandriskmanagement• We will deliver on our shareholder return model• We will continue to clean up our legacy issues• We will be the best place for people to work3100908$73,976$120,944$111,390100908$177,052$231,444$228,2481009084.80%7.81%8.60%Synergiesprovidebigopportunities.Inthepastyea