Regional Banks Still Face Varying Credit Trends |
Wall Street Journal - Apr 20, 2010 |
Divisions were heightened among regional banks Tuesday as some continued to struggle with credit woes, but others were able to lower their loan-loss provisions and net charge-offs.
Most banks have seen their credit troubles abate as the economy begins to pick back up, as long efforts to squirrel away money to cover delinquent loans and the shrinking of loan books have begun to pay off. But losses from soured loans still mire many banks' results.
Marshall & Ilsley Corp. (MI), which had been considered to be one of the banks with the poorest credit quality, emerged with better credit results this quarter, and US Bancorp (USB) also showed credit strength. But Regions Financial (RF) continues to struggle with credit issues. Several others, including Bank of New York Mellon Corp. (BK) saw nonperforming loans decline sequentially but still climb from a year earlier.
US Bancorp's shares rose 0.9% to $27.87 after the company said first-quarter earnings rose 26% and its credit-loss provisions fell to the lowest level since the fourth quarter of 2008.
Read Full Article from Wall Street Journal
- Posted: 2010-04-20 11:02:07
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