April 11- Wells Fargo& Co, the biggest U.S. mortgage lender, reported a better-than-expected 14 percent rise in first-quarter net profit as it set aside less money to cover bad loans. Wells Fargo's shares, which had risen about 8 percent since the start of the year to Thursday's close, were up 1 percent at $48.25 in trading before the bell.
April 1- Wells Fargo& Co on Tuesday named a new chief financial officer and wholesale banking leader, in a shake-up of its top ranks. Dave Hoyt, Wells Fargo's current head of wholesale banking, will leave the bank at the end of June after a 32- year career.
March 18- Wells Fargo& Co Chief Executive Officer John Stumpf earned $19.3 million in 2013, identical to what he took home a year earlier, according to a filing with the U.S. Securities and Exchange Commission on Tuesday. David Hoyt, Wells Fargo's head of wholesale banking, was the second-highest paid executive behind Stumpf.
NEW YORK, Jan 19- Loans to businesses have risen to a record high and bank executives say they are increasingly optimistic about the U.S. economy. JPMorgan Chase& Co Chief Executive Jamie Dimon, who has long described himself as "cautiously optimistic" about the economy, recently dropped the modifier "cautiously," he said on a conference call with investors last week.
Jan 14- Wells Fargo& Co reported a better-than-expected 11 percent jump in fourth-quarter profit, though mortgage financing was at its slowest in five years, and the bank's shares fell in morning trading.
CEOs from major banks met with President Obama on Wednesday and warned of the consequences if lawmakers fail to raise the US debt ceiling.
The country's two biggest mortgage lenders, Wells Fargo and JPMorgan Chase, reported Friday that a surge in home lending pushed them to record profits. JPMorgan CEO Jamie Dimon declared that the housing market "has turned the corner." JPMorgan wrote $47 billion in mortgages, compared with $37 billion last year.
Wells Fargo said Friday that its third-quarter net income and revenue rose as the bank increased consumer lending and collected more fees. In a call with analysts, Wells Fargo Chairman, President and CEO John Stumpf explained why interest income might not be such a grave threat.
By Rick Rothacker and Jed Horowitz. Oct 12- Wells Fargo& Co's. The No. 4 U.S. bank by assets has expanded in mortgage lending while others such as Bank of America Corp.
Oct 12- Wells Fargo& Co:. *CEO john stumpf says bank's credit quality reflects improving U.S. housing. *CFO sloan says bank decided to retain $9.8 b in conforming mortgages because.
Wells Fargo posted record earnings in the third quarter as the bank increased mortgage lending and pocketed more fees. "Real estate is getting better," Wells Fargo chairman, CEO John Stumpf said on a call with analysts. " Wells' net income in the quarter ended Sept. 30 rose 23 percent, to $4.72 billion from $3.84 billion in the same period last year.
Oct 12- Low interest rates both hurt and helped third-quarter earnings at Wells Fargo& Co, boosting mortgage lending but squeezing core profitability more than analysts expected.
Three years after a deal that transformed Wells Fargo, CEO John Stumpf has come to Charlotte, NC to retire the Wachovia brand and rally employees whose future looked considerably less bright in 2008.