« Countrywide, B of A Combined Ops | Main | Federal Funds Rate Cut Again »
January 25, 2008
Loan Losses Cost National City Millions
National City Corp. announced that experienced a net loss of $333 million, or $.53 per diluted share, in the fourth quarter of last year. The company attributes these losses to “a large provision for credit losses, losses on mortgage loans held for sale, charges related to Visa, Inc., indemnification obligations and severance charges associated with employment reductions during the quarter.”
Posted by S. Germain at January 25, 2008 07:52 AM