Tag Archives: Bank Earnings

Wells Fargo reported strong financials for the second quarter, driven in part by an uptick in mortgage lending and ongoing improvements in credit quality. The megabank reported $5.7 billion in net income for the quarter, up 4 percent over $5.5 billion a year prior. For the year's first half, Wells Fargo took in $11.6 billion in net income, up nearly $1 billion compared to the same period in 2013.

First-quarter bank earnings dropped more than $3 billion compared to last year as mortgage-related income fell, FDIC reported Wednesday. FDIC reported the decline was "mainly attributable to a $7.1 billion (10.7 percent) decline in noninterest income," about $4 billion of which came from decreased mortgage revenues as interest rates continued to rise.