On the heels of the bad news from Citigroup regarding their bad 4th quarter and good news from Chase regarding their 4th quarter, I decided to combine some of the reports from the rest of the bank’s all in one post just to get it all over with certain move on to other things.

Wells Fargo showed a very good profit of $3 billion for the 4th quarter, which was good especially since they also paid off their TARP loan in the quarter. Their profit was ahead of estimates, and yet some analysts still aren’t happy, saying that some areas of the bank didn’t perform as well as they had hoped. I figure you can’t have everything.

Bank of America posted a $4.2 billion loss in the quarter, which also included them paying back their TARP government loan. They’re saying that $4 billion of that loss was the repayment of the loan, that almost seems disingenuous sense they had to raise money to pay off that loan in the first place. The loss was also worse than the loss they showed in the 4th quarter, when they lost $2.4 billion.

Wilshire Bancorp reported a profit of $3.2 million, which isn’t great but is still better than the fourth quarter of 2008 and they lost around $6 million.

And finally, Goldman Sachs reported a profit of $4.95 billion in the 4th quarter, crushing estimates by more than $3 a share. They supposedly did well because of the growth of the China market, which reported an overall growth of 10.7% for 2009. They also reduce the amount of bonuses that they had been paying out, decreasing the amount by around $4 billion from what they paid out in 2007.

Some quick hitters includes Bank of New York showing a profit of around $2.5 billion, KeyCorp showing a loss of around $750 million, and U.S. Bancorp showing a profit of around $600 million.

Overall, banks seemed to have done fairly well, but there are worries on the horizon as new regulations kick in from the FHA on mortgage lending that could reduce revenues drastically for some banks. Maybe that’s why Citigroup is trying to get out of the mortgage game.

Tweet about this on TwitterShare on Facebook0Share on LinkedIn0Share on Google+0It's only fair to share...