Fourth-quarter profit dropped 5.4% as revenue from its mortgage business declined, Wells Fargo said Friday.
JPMorgan Chase said profit rose 24% as bond-trading revenue climbed more than analysts estimated and expenses fell.
PNC’s fourth-quarter profit improved on higher lending to corporate customers for real estate and other loans.
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.
Banks have started reconsidering how much they are willing to pay for low-income housing tax credits.
First Internet Bancorp is the latest institution to enter the business or to significantly expand operations.
