SERVING MINNEAPOLIS / ST. PAUL / MINNESOTA
Donate Now Sustaining Member

MinnPost thanks these major sponsors:




Sponsor of
Second Opinion


Sponsor of
Community Sketchbook


Our major advertisers


Our in-kind partners

Search Engine Marketing

MinnPost thanks these generous donors:

INDIVIDUALS AND FOUNDATI0NS
Blandin Foundation
Otto Bremer Foundation
Bush Foundation
Sage & John Cowles
David & Vicki Cox
Toby & Mae Dayton
Jack & Claire Dempsey
Ethics and Excellence in Journalism Foundation
Sam & Stacey Heins
John S. and James L. Knight Foundation
Joel & Laurie Kramer
Lee Lynch & Terry Saario
Martin & Brown Foundation
The McKnight Foundation
The Minneapolis Foundation
The Saint Paul Foundation
Rebecca & Mark Shavlik

(See all donors here.)

BUSINESS AGENDA

  • Switch to Small Text Size
  • Switch to Medium Text Size
  • Switch to Large Text Size
Email Print Submit a Comment

    TCF, US Bank, Wells Fargo report 2nd-quarter results

    By Dan Haugen | Published Wed, Jul 22 2009 10:24 am

    Minnesota's largest banks are reporting to their shareholders this morning results for the most recent quarter. Here's what they're saying:

    • U.S. Bancorp's second-quarter profits totaled $471 million, about half what it made during the same three months in 2008. Credit losses were a factor in the decline. Losses on bad loans more than doubled from a year ago.
    • Wells Fargo touted "record income" for its second quarter, but the income increase is greater because of last fall's acquisition of Wachovia Corp. Still, the numbers disapointed investors, who are concerned about a spike in bad loans, Reuters reports.
    • TCF Bank reported $23.5 million in profits for the second quarter, up less than a percentage point from a year ago. One figure that did shoot up: income from banking fees, which was up about 9 percent from a year ago and 25 percent from the previous quarter.

    Like what you just read? Support high-quality journalism in Minnesota by becoming a member of MinnPost.

    Advertisement:

    1 Comment: Hide/Show Comment

    E-mail address

    Password

     

    Forgot Password? | Register to Comment

    MinnPost does not permit the use of foul language, personal attacks or the use of language that may be libelous or interpreted as inciting hate or sexual harassment. User comments are reviewed by moderators to ensure that comments meet these standards and adhere to MinnPost's terms of use and privacy policy.

    We intend for this area to be used by our readers as a place for civil, thought-provoking and high-quality public discussion. In order to achieve this, MinnPost requires that all commenters register and post comments with their actual names and place of residence. Register here to comment.



    minnpost.com/businessagenda

    Business Agenda reports on what's going on at businesses in Minnesota. Business Agenda provides brief, quick-reading items about important companies in Minnesota and the people who work at those firms. Business Agenda features new items every day Monday through Friday. 

    Recent Business Agenda Posts