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Fannie earns $17.2B in 2012, biggest annual gain

Fannie Mae earned $17.2 billion last year, the biggest annual profit in the U.S. mortgage giant's history, helped by a record fourth quarter.

 

Wells Fargo Net Up 20%

Fourth-quarter profit at Wells Fargo rose 20% as the banking giant posted more loan growth and again reduced the amount of money it sets aside to cover potential loan losses.

 

Bank of America posts $1.2B loss

Bank of America reported Friday that it had a $1.2 billion loss in the fourth quarter of last year, including a previously announced charge of $2 billion reflecting a decline in the value of its home loans and insurance business.

 

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