Bank of America 2002 Annual Report Download - page 7

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bankers are nurturing the grassroots of the American
economy, and helping foster the entrepreneurial spirit in
our multicultural communities. Middle-market, corporate
and investment bankers are helping their clients raise the
capital they need to grow their businesses and navigate
today’s treacherous markets safely and successfully.
These associates are led by an executive management team
that includes seasoned veterans and rising stars from both
inside and outside the financial services industry, several of
whom won industry recognition for their tremendous results
in 2002. Working with managers and associates throughout
the company, we all are building customer and client rela-
tionships and delivering the financial products and services
our customers need to help them achieve their dreams.
In regard to our focus on building relationships — the
foundation of our corporate strategy — I will repeat what
I wrote last year. We know that we are not the only large
banking company pursuing a relationship-based strategy,
and that the real game is execution.
What’s different today is the evidence from our customers
and on our income statement that we are, indeed, executing
this strategy more successfully — and on a much larger
scale — than our competitors. While the economic outlook
remains uncertain, we believe we will continue to build
on our momentum, and will be well-positioned to further
separate our company from the pack when stronger
economic growth returns.
In closing, I would like to thank our Board of Directors
for their guidance and counsel during a turbulent year.
In particular, I greatly appreciate the service of Ray Holman,
chairman of Mallinckrodt, Inc. and Peter Ueberroth, managing
director of The Contrarian Group, Inc., both of whom are
retiring from the board this year. On behalf of all our associ-
ates, I also thank our customers, who provide the inspiration
for all we do, and our shareholders, whose commitment to and
investment in this company make higher standards an ideal
worth expecting, worth demanding and worth fighting for.
As always, I welcome your thoughts and suggestions.
5
BANK OF AMERICA 2002
KENNETH D. LEWIS
Chairman, Chief Executive Officer and President
February 10, 2003
$4.52 15.96%
13.96%
19.44%
$2.06
$2.28
$2.44
$4.18
$5.91
2001 20022000 2001 20022000 2001 20022000
Earnings Per Common Share
(diluted)
Return on Average Common
Shareholders’ Equity Dividends
($ per share)