AZ Central.com logo AZ Central.com 1 month ago

Wells Fargo reports record profit

Oct. 21 -- Wells Fargo & Co. , the nation's largest home lender, posted a record third-quarter profit by limiting loan defaults and wringing savings out of Wachovia Corp. Full Article at AZ Central.com

Related Topics:

  1. Wells Fargo
  2. Bank of America
  3. J.P. Morgan Chase & Co.

Related Articles

  1. Los Angeles Times logo
    Wells Fargo reports record profit
    1 month ago

    Wells Fargo & Co. posted a record third-quarter profit by limiting loan defaults and wringing costs from Wachovia Corp. The quarter included gains from hedging, leading analysts to question whether the profit would continue, and the stock dropped 5.1%. Full Article at Los Angeles Times

  2. The Street logo
    Wells Fargo Tops View, Mum on TARP Payback
    1 month ago

    SAN FRANCISCO (TheStreet) -- Wells Fargo (BAC Quote) offered a stunning rebuke to skeptics by posting a third straight quarter of record earnings on Wednesday, and predicted that next year will see the end of ongoing economic stress. Full Article at The Street

  3. MarketWatch logo
    Wells Fargo net nearly doubles; credit losses rise
    1 month ago

    NEW YORK (MarketWatch) -- Wells Fargo & Co. reported Wednesday a third-quarter profit that nearly doubled from the year-ago period to more than $3 billion as one of the nation's largest mortgage lenders continues to build reserves for possible losses,... Full Article at MarketWatch

Related Quotes

  1. We're seeing an intensification of problems in their loan books which we didn't see at some of the other big lenders and regional banks [reporting earnings] ... Either they've been late to recognize the problems in their portfolio, or the markets they're in are getting worse.
    SOURCE: New York Post 1 month ago
  2. You are inundated with these swings with the accounting provisions
    SOURCE: Bloomberg.com 1 month ago
  3. Dick Bove of Rochdale Securities may have been responsible for today's late day sell-off for the market as many banking stocks fell late in the day
    SOURCE: Channel News Asia 1 month ago
  4. Nonperforming assets and credit losses increased during the quarter, and once again we increased reserve levels to provide for the additional risk. We expect credit losses and nonperforming assets to continue to increase in the near term, but at a slower rate as we have seen the pace of deterioration sl...
    SOURCE: MarketWatch 1 month ago
View all Related Quotes »
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  1. David Rader of Wells Fargo, left, participates with members of the money lending industry during the Small Business Financing Forum, Wednesday, Nov. 18, 2009, at the Treasury Department in Washington. At right is Steve Steinour of Huntington Bank.
  2. NEW BRUNSWICK, NJ - MAY 28: Job seekers speak to recruiters at the Wells Fargo stand at the New Jersey Collegiate Career Day hosted by Rutgers University on May 28, 2009 in New Brunswick, New Jersey. Over 150 employers attended the fair aimed at experienced and entry level candidates.
  3. SAN FRANCISCO - MAY 04: A pedestrian walks by the Wells Fargo headquarters May 4, 2009 in San Francisco, California. Regulators have notified Wells Fargo Bank that it might need to firm up its finances after a government 'stress test' showed that the bank might not survive if the recession deepens.
  4. SAN FRANCISCO - APRIL 23: California attorney general Jerry Brown (L) speaks during a press conference where he announced a lawsuit he filed against Wells Fargo affiliates April 23, 2009 in San Francisco, California.
  5. CHICAGO - APRIL 09: A Wells Fargo sign hangs above the entrance of a Wells Fargo home mortgage office on April 9, 2009 in Chicago, Illinois. Wells Fargo & Co said it expects to post a record $3 billion first-quarter profit exceeding analysts' expectations.
  6. Bank of America CEO Ken Lewis (C) speaks to the press at the White House in Washington, DC on March 27, 2009 after a meeting of the heads of the country's largest banks with US President Barack Obama, as John Stumpf (L), CEO of Wells Fargo bank, Freddie Mac CEO John Koskinen (2nd) and Richard Dav...
  7. SAN FRANCISCO - OCTOBER 03: A pedestrian walks by a Wells Fargo bank branch October 3, 2008 in San Francisco, California.
  8. A Wachovia branch bank is shown in Manhattan on October 3, 2008.
  9. Job seekers visit an employment center in San Francisco, California in this November 20, 2009 file photo.

Cast of Characters

  1. Wells Fargo Wells Fargo
  2. Bank of America Bank of America
  3. Citigroup Citigroup
  4. J.P. Morgan Chase & Co. J.P. Morgan Chase & Co.
  5. Morgan Stanley Morgan Stanley
  6. Thomson Reuters Thomson Reuters