This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

JPMorgan Chase Reports Fourth-Quarter 2012 Net Income Of $5.7 Billion, Or $1.39 Per Share, On Revenue1 Of $24.4 Billion

The provision for credit losses and net charge-offs were both $110 million (2.36% net charge-off rate), compared with $132 million (3.02% net charge-off rate) in the prior year.

Noninterest expense was $2.9 billion, up 2% from the prior year, largely driven by new branch builds.

Key Metrics and Business Updates: (All comparisons refer to the prior-year quarter except as noted)
  • Average total deposits were $404.0 billion, up 10% from the prior year and 3% from the prior quarter; deposit growth rates were among the best in the industry (as of November 2012).
  • Deposit margin was 2.44%, compared with 2.76% in the prior year and 2.56% in the prior quarter.
  • Accounts totaled 28.1 million, up 5% from the prior year and 1% from the prior quarter.
  • Chase Private Client locations totaled 1,218, an increase of 956 from the prior year and 258 from the prior quarter.
  • Record end-of-period Business Banking loans of $18.9 billion, up 7% from the prior year and 2% from the prior quarter.
  • Average Business Banking loans were $18.5 billion, up 7% from the prior year and 1% from the prior quarter; originations were $1.5 billion, up 10% from the prior year and down 9% from the prior quarter; Chase continues to be the #1 SBA lender (in number of loans, as of November 2012).
  • Branch sales of investment products were up 49% compared with the prior year and 11% compared with the prior quarter.
  • Client investment assets, excluding deposits, were $158.5 billion, up 15% from the prior year and 2% from the prior quarter.

Mortgage Banking reported net income of $418 million, compared with a net loss of $269 million in the prior year.

Net revenue was $3.3 billion, an increase of $1.2 billion compared with the prior year. Net interest income was $1.2 billion, down $94 million. Noninterest revenue was $2.1 billion, an increase of $1.3 billion, driven by higher mortgage fees and related income.

5 of 15

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $93.99 0.00%
FB $102.01 0.00%
GOOG $682.40 0.00%
TSLA $151.04 0.00%
YHOO $27.04 0.00%


Chart of I:DJI
DOW 15,973.84 +313.66 2.00%
S&P 500 1,864.78 +35.70 1.95%
NASDAQ 4,337.5120 +70.6750 1.66%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs