banking

Profits at the Midwestern bank fell on lower adjusted noninterest income and loans and on a one-time item.

A 9% increase in interest revenue helped to offset relatively flat growth in fee revenue.

The Minneapolis company reported gains in lending and fee income, but merit-pay increases and compliance-related spending contributed to higher noninterest expenses.

JPMorgan Chase said profit rose 24% as bond-trading revenue climbed more than analysts estimated and expenses fell.

Bank of America, the second-largest U.S. lender by assets, said fourth-quarter profit rose 43% as revenue from fixed-income trading increased and expenses dropped.