April 20, 2005 |
Wells Fargo & Co. reported a 5% increase in first-quarter profit Tuesday but fell slightly short of analyst estimates after accelerating its time frame for writing off bad loans. The San Francisco-based banking company earned $1.86 billion, or $1.08 a share, for the period ended March 31. That compares with $1.77 billion, or $1.03 a share, a year ago. Revenue rose 13% to $8.09 billion. Analysts had predicted that Wells would earn a penny more a share. Its shares fell 58 cents to $58.
March 24, 2005 |
Three directors are resigning from the board of Washington Mutual Inc., according to a regulatory filing. According to a filing with the Securities and Exchange Commission, directors Elizabeth A. Sanders, Douglas P. Beighle and William D. Schulte submitted their resignation notices. Shares of Washington Mutual fell 2 cents to $39.69 on the NYSE.
January 6, 2005 |
Washington Mutual Inc., the nation's largest savings and loan, said Wednesday that retail banking president Deanna Oppenheimer would resign from the company to pursue other business ventures. Many analysts have called Oppenheimer, 46, one of the most influential women in U.S. banking. In 2003, she ranked fifth in U.S. Banker magazine's survey of the most powerful female bankers.
August 25, 2004 |
For Washington Mutual Inc., the glory days of growth and acquisitions have given way to layoffs and lowered expectations. The Seattle-based savings and loan, which became the nation's largest after swallowing three major California thrifts, is completing 13,450 job cuts, closing 100 mortgage offices and shuttering 53 commercial banking branches. WaMu reported zero income from mortgages in the second quarter, compared with $611 million last year. Overall profit was down 49%.
July 23, 2004 |
Washington Mutual Inc. said it would eliminate 2,500 jobs and close operations across the country while trying to improve performance at its struggling mortgage business. The Seattle-based banking company said it planned to eliminate about 1,840 jobs and close approximately 100 retail lending and loan processing offices. The rest of the jobs will be eliminated when the company closes a mortgage loan processing facility in San Antonio. Washington Mutual shares fell 40 cents to $39.
July 22, 2004 |
Washington Mutual Inc., the biggest U.S. savings and loan, said second-quarter profit fell 51% as rising interest rates damped consumers' demand for mortgage loans. Net income fell to $489 million, or 55 cents a share, from $995 million, or $1.07 a share -- excluding discontinued operations -- a year ago, the Seattle-based company said. It was expected to earn 60 cents, the average estimate of 12 analysts surveyed by Thomson First Call.
May 22, 2004 |
Shares of Washington Mutual Inc. rose 9% on Friday on speculation that the nation's largest savings and loan might be sold to HSBC Holdings, Britain's biggest bank. The conjecture mounted after Bill Aldinger, chief executive of HSBC North America Holdings Inc., this week told British newspapers that HSBC planned more U.S. acquisitions. A purchase of Seattle-based Washington Mutual would make HSBC about the same size as Citigroup Inc.