The bank reported net charge-offs of $1.9 billion, or an annualized 1.57% of average net loans, due mainly to deteriorating housing markets in Florida and California. It posted total nonperforming assets including loans held for sale were $15 billion, or 3.05% of loans, foreclosed properties and loans held for sale.
Wachovia shares were falling 1.5% to $6 in recent premarket trading.- Loading Comments...
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| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,366.15 | 1,099.92 | 2,173.14 | 33.80 |
Oil *
77.73
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DOWN
86.53
|
DOWN
9.32
|
DOWN
11.89
|
UP
0.57
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10 Yr
3.38%
SPDR Gold
118.70
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-0.83%
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-0.84%
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-0.54%
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+1.72%
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Data delayed 20 minutes |
