Mr Cooper Group Inc (COOP) Options

here is a brief Factual answer to your question with no B.S................the chapter 11 closed 12 years ago as signed by the judge.....

No one is like Harris……how will you fix inflation…..well I am from a middle class family….we care about our lawn…..we will give away 25k to buy homes unless you bought one already……fix inflation…..we will copy and paste the other nominee’s political stance because we were better 3.5 years ago….

If he skips, he’ll be called Kamala

If you are a genuine person answer my questions with Facts and with a tinge of common sense. Don't write paragraphs of your bs.

I did answer your questions, now you can answer mine. If you skip to answer silently, that shows what you are.

Rosen made that statement of No safe Harbor assets in 2012, not 2018.....WMI said in 2012 that All assets of WMI were submitted to the court, both reportable, and those NOT REQUIRED TO BE REPORTED!!!!.....Why did WMI have to report all assets to the court?....the judge , after mediation hearings where the SNL's were caught with colorable insider. trading, asked for a "cure" for the remedy... WMI agreed to liquidate 7 Trusts which held reinsurance assets.plus the assets of WMIIC to VALUE THE 200 MILLION SHARES that were created for former shareholders to BE INCLUDED IN THE CHAPTER 11 SETTLEMENT!!!!!!!!! former WAMU shareholders "were the beneficiary of the 7 trusts, plus WMIIC which was liquidated...the trusts were converted to 200 million shares and given to former equity in the ratio of 25/75% common and preferred in return for their releases...the only Trust remaining is WMMRC which held the residual assets of 34 million dollars according to the 2013 WMIH 10-K....now, your questions are speculations, suppositions, and have never been taken up by the courts... again, I ask you the seminal question of assets:...was WMI lying in court about the statement that "all assets were submitted to the court"?... if the question is no, then all posts for the last 12 years were a waste of time... who do you believe?... WMI, or members on this message board extolling that WMI held billions in Safe Harbor, and off balance sheet assets?????.....

Royal Dude
Re: Royal Dude post# 734368
Thursday, September 19, 2024 4:27:27 PM
Post# of 734369 Go
PRESS RELEASE | SEPTEMBER 5, 2024
FDIC-INSURED INSTITUTIONS REPORTED NET INCOME OF $71.5 BILLION
Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Declined Slightly, Driven by the Largest Banks
Domestic Deposits Decreased From the Prior Quarter
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent
Quarterly Banking Profile - Quarterly Net Income“The banking industry continued to show resilience in the second quarter. Net income increased and asset quality metrics remained generally favorable. However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events. In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”— FDIC Chairman Martin J. Gruenberg______________________________________________________________WASHINGTON— Reports from 4,539 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $71.5 billion in second quarter 2024, an increase of $7.3 billion (11.4 percent) from the prior quarter. A decline in noninterest expense and one-time gains on equity security transactions contributed to the quarterly increase. These and other financial results for second quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released today.
The Industry’s Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains: Second quarter net income for the 4,539 FDIC-insured commercial banks and savings institutions increased $7.3 billion (11.4 percent) from the prior quarter to $71.5 billion. A decline in noninterest expense (down $3.6 billion, or 2.4 percent) along with higher noninterest income (up $1.2 billion, or 1.5 percent) and higher gains on the sale of securities (up $937 million) were the primary factors driving the increase in net income. Higher provision expenses offset some of the increase in net income.
The quarterly increase in net income was largely driven by nonrecurring items including an estimated $4 billion reduction in reported expense related to the FDIC special assessment, approximately $10 billion in gains on equity security transactions by large banks, and the sale of an institution’s insurance division that resulted in an after-tax $4.9 billion gain.[1] These increases were partially offset by several large banks selling bond portfolios at a loss and a $2.7 billion increase in provision expense.
The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.20 percent in second quarter 2024, up 12 basis points from first quarter 2024 but down one basis point from first quarter 2023.
Community Bank Net Income Increased Quarter Over Quarter: Quarterly net income for the 4,104 community banks insured by the FDIC was $6.4 billion in the second quarter, an increase of $72.6 million (1.1 percent) from first quarter 2024. Higher net interest income (up $546.4 million, or 2.7 percent) and higher noninterest income (up $253.9 million, or 5.0 percent) more than offset higher noninterest expense (up $365.7 million, or 2.1 percent) and higher provision expenses (up $140.5 million, or 18.2 percent). The community bank pretax ROA increased one basis point from last quarter to 1.14 percent.
The Net Interest Margin Declined Slightly, Driven by the Largest Banks: The industry’s net interest margin (NIM) declined one basis point to 3.16 percent in the second quarter as the growth in funding costs slightly exceeded the growth in earning-asset yields. The industry’s second quarter NIM was nine basis points below the pre-pandemic average NIM after falling below that level last quarter.[2] The NIM increased quarter over quarter for all size groups except for the largest banks, those with assets over $250 billion, who in aggregate reported a four basis-point decline in the NIM. The community bank NIM of 3.30 percent increased seven basis points quarter over quarter, reversing a five-quarter declining trend, but was still 33 basis points lower than the pre-pandemic average.
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased: Noncurrent loans, or loans that are 90 days or more past due or in nonaccrual status, remained unchanged from the prior quarter at 0.91 percent of total loans and well below the pre-pandemic average of 1.28 percent. Despite the stability in overall noncurrent loans, the noncurrent rate for non-owner occupied commercial real estate loans of 1.77 percent was at its highest level since third quarter 2013, driven by office portfolios at the largest banks. However, these banks tend to have lower concentrations of such loans in relation to total assets and capital than smaller institutions, mitigating the overall risk.
The industry’s net charge-off rate increased three basis points to 0.68 percent from the prior quarter and was 20 basis points higher than the year-ago quarter. This ratio was also 20 basis points above the pre-pandemic average and remained the highest quarterly rate reported by the industry since second quarter 2013. The credit card net charge-off rate was 4.82 percent in the second quarter, up 13 basis points quarter over quarter and the highest rate reported since third quarter 2011.
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago: Total loan and lease balances increased $125.8 billion (1.0 percent) from the previous quarter. The increase was driven by higher loans to nondepository financial institutions (NDFIs) (up $76.0 billion, or 9.6 percent) and consumer loans (up $25.8 billion, or 1.2 percent). Much of the growth in NDFI lending appears to be due to reclassification from other existing loan categories. The majority of banks (75.1 percent) reported quarterly loan growth, and all major loan categories except construction and development loans showed quarter-over-quarter growth.
Total loan and lease balances increased by $244.5 billion (2.0 percent) from the prior year. The annual increase was also led by loans to NDFIs (up $77.5 billion, or 9.8 percent), likely due to reclassifications in the second quarter, as well as credit card loans (up $77.0 billion, or 7.5 percent) and adjustable rate 1-4 family residential mortgage loans (up $69.3 billion, or 7.5 percent). A large majority of banks (82.9 percent) reported annual loan growth.
Community banks reported a 1.7 percent increase in loan and lease balances from the previous quarter and a 6.3 percent increase from the prior year. Growth in nonfarm, nonresidential CRE loans and 1-4 family residential mortgage loans drove both the quarterly and annual increases in loan and lease balances. Loan growth was broad based across community banks with over three quarters of such banks reporting higher loan balances from the prior quarter.
Domestic Deposits Decreased From the Prior Quarter: Domestic deposits decreased $197.7 billion (1.1 percent) from first quarter 2024, well below the pre-pandemic average second-quarter growth of 0.2 percent. Both savings and transaction deposits declined from the prior quarter, with growth in small time deposits partially offsetting the declines. Brokered deposits decreased for the second straight quarter, down $10.1 billion (0.8 percent) from the prior quarter. Banks with over $250 billion in assets drove the quarterly decline in deposits.
Estimated insured deposits decreased $96.0 billion (0.9 percent) and estimated uninsured domestic deposits decreased $50.4 billion (0.7 percent) during the quarter. Banks with assets greater than $250 billion reported lower uninsured deposits in the second quarter, while banks with assets less than $250 billion reported higher uninsured deposit levels.
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent: In the second quarter, the Deposit Insurance Fund (DIF) balance increased $3.9 billion to $129.2 billion. The reserve ratio increased four basis points during the quarter to 1.21 percent.
The Total Number of Insured Institutions Declined: The total number of FDIC-insured institutions declined by 29 during the quarter to 4,539. Three banks were sold to credit unions and 26 institutions merged with other banks during the quarter. One bank failed in the second quarter but did not file a call report in the first quarter, and no banks opened.
# # #
ATTACHMENTS:
Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos)
Charts and Data
Chairman Gruenberg’s Press Statement
MEDIA CONTACT:
Julianne Breitbeil
202-340-2043
JBreitbeil@FDIC.gov
FDIC: PR-76-2024

Court knows everything, equity ownership was evidenced by recording shareholders info and number of shares they held in a book-entry form. Using that they must have already transferred those interests as in 2018 10K.
Subject to certain limited exceptions, the Liquidating Trust Interests are not transferable or assignable.
LTIs are not transferable or assignable except by will, intestate succession or operation of law. Accordingly, there is no liquid trading market in the LTIs. Under certain circumstances, transfers of LTIs have been permitted upon the winding up or dissolution of vehicles that previously held LTIs on behalf of such vehicles or the beneficiaries thereof. There can be no assurance that the Trust will consent to any such transfers in the future.
https://www.sec.gov/Archives/edgar/data/1545078/000119312519092649/d658548d10k.htm
If they transferred those assets in 2018 or 2019, yes Rosen could say that there is no assets and no equity from WMILT. He can't say that some other entity will distribute.

answer my questions first, then I will answer yours..... do you believe Rosen was lying to the court about Safe Harbor assets being non existent?....If you believe that he was lying, then it is your task to prove him wrong in court for FRAUD.....I will entertain your questions if you can prove both WMI, and Rosen was lying in court to the judge, or the judge acquiesced to this lie....dont answer a question with a question.... mine is seminal to all discussions of returning assets.... so , did Rosen and WMI lie in court?..... Lodas

Lotas why there 4 EC members on TAB of WMILT thru Jan 2020 and why were two insiders were appointed as administrators, why did Kosturos go?.
Why RALTA is a non public document?.
Why did Mr.Nelson wanted control of WMILT after the claims were paid?.
Why did THJMW signed a document which stated equity was a beneficiary of WMILT?.
Why did they file form 8937 and mentioned that equity received LTIs in exchange of its cancelled shares?.
Got it?. Use common sense if you can, otherwise agree that you lack one.

@ newflow.......WMI makes the official statement, and on record that..... "all assets, both reportable, and those NOT REQUIRED TO BE REPORTED were disclosed to the bankruptcy court by WMIL-T, as successor to WMI.......what is your opinion of that statement by WMI?.....
(1) do you believe it was a clerical mistake and WMI did not mean to state this?
(2) do you believe that WMI meant to imply that only those assets needed to settle creditor claims were included, and the rest of the assets were withheld from the court to be distributed to classes 19, and 22 at a later time after the chapter 11 closed?
(3) do you believe that Rosen lied to the judge when he said WMI held no Safe Harbor assets, and that they were all sold off to GSE's....this question is seminal to all discussions of the message board for 12 years now, and it must be answered, and settled for any further discussions of money coming back..
what is your opinion of the above statements, and what are you prepared to do if any one of them is rejected by you?...........

https://seekingalpha.com/article/4720233-jpmorgan-chase-and-co-jpm-barclays-global-financial-services-conference-2024-transcript#hasComeFromMpArticle=true

JPM way of keeping it sticky. Look at the 92B net From First Republic
Royal

Maybe so, and now ihub's count has also caught up.

Damn, the games that go on with this...

It’s always something. 😊

JHD

Anyone has any idea what happened to AZ. Haven't heard from him for 10 days. Ther goes soon.

My platform shows 1,260,125 traded.

....maybe its COOP buying stock?

It's triple witching today.

That can't be right, just looked at after-hours.

But what is up with those slew of 16:00:01 trades?

Wow over a million shares traded today!

Semper Fi

It's cheap to renew these Domain names. They probably just want to make sure that the website isn't taken and used against them for several years.
(I mean there are some crazy people hanging out on Online Chat Groups and posting all kinds of crap every second of the day about WAMU..........Haha.)

"I've seen you over the past year pushing crypto, obviously you're excited over it. "
- I seek never to "push", only to inform. And I'm not "excited" over it, I just see from watching and studying since 2017 that it is inevitable.

"it's (gold) NOT supposed to be an investment, but rather insurance"
- Excellent point, because that it is, but many see it as an investment. Good on you for eyeing the difference.

"gold and silver have been valued for 5000 years"
- Yes, and the vast majority of that time was vastly less technological than today is. Once we went to cars, we'll never go back to horse and buggy. Once we went to internet, we'll never go back to no internet. And now that we can something with many of the good qualities of gold without the hinderances of gold, we will not go back. The move toward digitization of all assets is happening at full speed as we speak, I promise you that. See what Chainlink is doing.

"with ledgers everywhere and in everyone's hands, it (Bitcoin) cannot be manipulated?"
- There is some concern that in 10-20 years, quantum computing could be a threat, but estimates for Bitcoin price at that time are in the multiple millions, and one would be wise to redistribute their profits before that.

"why is it that Bitcoin is also displayed visually as a shiny gold coin?"
- Because we humans are simple creatures with primitive minds and can't fully grasp value that doesn't look at all like value we're already familiar with. So people make pictures newbies can relate to because explaining blockchain ledgers is not going to stick for most.

"I don't even really trust my BANK to be there if worse comes to worse"
- Very wise, and no one should.

"My COOP stock sits in Charles Schwab, and I feel the risk is low, but what if Schwab folded unexpectedly?"
- Excellent point. Schwab is your 3rd party custodian you must have faith in, and in that you've just pitched Bitcoin. Bitcoin can be owned and transferred to the other side of the planet for next to free, nearly instantaneously, and can be done without the need for a 3rd party.

"And Blackrock? Excuse me, for feeling less than warm about them"
- Well duh lol. Of course not, they're the devil. That's irrelevant. They have power, control, and influence over the world's financial culture, and THAT is the point. They will always win. I'm not advising you love them, but it's wise to follow what they're doing.

"spread your risk around"
- 100% agreed


----------------------------------
Thanks for your thoughts.

If they didn't renew it that would be a bummer. So I'm kind of curious what they're going to use the domain name for in the long run.

Its very very significant for me.

Bit (binary digit) is a on and off switch - it can be turned off anytime. No one would ever know where it went. Ask any software person. Can I create a virus that would go dominate internet and start to delete all bit related information? LOL.. Picture Cyberdyne Systems going around deleting all related information.. Very simple in my opinion

Well sure, let's discuss this.

Yes, the USD is on a path to collapse. I guess it's time to pick your poison. I've seen you over the past year pushing crypto, obviously you're excited over it. I too, held both Bitcoin and Bitcoin Cash, making a profit on it back in 2021 (the tax reporting was annoying) when I got out.

Gold has now outperformed the S&P for the past 20 years, Go look it up. But it's NOT supposed to be an investment, but rather insurance. Is there a place for the 100x Apple? Of course. Or the Nvidia, well yes, there are a lot of stocks I wish I had invested in years ago, but that hadn't been on my radar.

You mention the only reason people value gold is because it's "(supposedly) scarce", ignoring the fact both gold and silver have been valued for 5000 years, without pointing out a very real modern industrial need for especially silver and new technologies. Ask yourself why central banks have been stockpiling gold? Then you point out the 21 million limitation on Bitcoin (yes, I understand block technology, been a senior analyst and developer for almost 30 years now and it does have it's purposes), without also admitting that even with ledgers everywhere and in everyone's hands, it cannot be manipulated? Do you really believe that? You believe it has value, because it cannot be tampered with. but IT'S track record barely dents 20 years? And why is it that Bitcoin is also displayed visually as a shiny gold coin? Because people value that! Now, people who have invested in precious metal ETF's have lost their investment when a shady firm folded (Oxford Gold anyone?), rather than holding it IN their custody with no counter-party risk. Pointing to your digits on a screen is nice, but when that moment no one expected arrives, you believe it will still be there? Hell Vod, I don't even really trust my BANK to be there if worse comes to worse. My COOP stock sits in Charles Schwab, and I feel the risk is low, but what if Schwab folded unexpectedly? Yes, your stock is insured, but get in line waiting to be reimbursed and after watching the WaMu debacle for almost 18 years, let's just say my confidence isn't extremely high.

And Blackrock? Excuse me, for feeling less than warm about them.

The best I can say, is spread your risk around. That probably means hard assets (real estate, etc), stocks, bonds, precious metals, crypto, cash. Because no one really knows where the next blow is coming from, no matter how much people want to claim otherwise.

Hello Wodka,
by golly, I am glad to read and see that not only in small circles there are people who know how to think and combine some facts of high finance.
I cannot deny that I thought I could read such a conversation even here in this room.
I am pleased.
XXXX

I'm showing a gap around $90. I hope they just get it filled soon and move on up from there. Getting old waiting for this to hit $100. eom jj

I see a lot of people excited about the recent performance of Gold. Well I'm not here to pour cold water on anyone's investment, but I think it's good to look at everything in perspective. In the last 30 years this is how these assets have increased in price:
Gold: 5X
Exxon: 10X
Microsoft: 20X
Apple: 100X

And interestingly if you just look at the last ten years, the best overall investment has been (drum roll please)........
BITCOIN!
Yes, you read that correctly.

Over the past year, the two best stocks have been Nvidia and Microstrategy. Microstrategy is no surprise as it's basically a bet on Bitcoin as Michael Saylor has made MSTR predominantly a Bitcoin development company, and MSTR trades at a premium to Bitcoin.

Regarding gold, one should keep in mind that the only reason we value it is because it's (supposedly) scarce. However it's generally understood that the amount we've mined is just 1% of what's mineable in the land and sea. Think about it- If the price of gold goes up enough, they'll just start new gold mines and ramp up operations at existing mines, thereby increasing supply and thus bringing cost back down.
Bitcoin on the other hand is cryptographically limited to 21 million. By "cryptographically", what that means is that in order to produce more than 21 million, you would need to change how math itself works, for example you would need the power to make it so that 1+1 no longer equaled 2. In other words, 21 million is the hard cap limit.

Blackrock is investing in Bitcoin because it sees the USD collapsing as our government's 35 Trillion dollar debt is realistically not payable and default is just a matter of time.

Have a great day folks!
Vodka-

$3K by end of this year - and by 2030 5K+.

Yep, for about 5-6 years now, I've been keeping a large portion of my cash in shiny.

Wish I had started earlier, but if the best time to plant that apple tree was 20 years ago, the second best time is today.

"gold hitting $2611 and some are saying 3,000 woww"

THAT is how fast the value of the Dollar is DROPPING....

Looks like we’re gonna have to wait till we get closer to earnings to push through 100

Now on to other things, the markets as of this post, it seem to be a coin flip as of this post after the run-up where COOP/OTHIS had one direction along with my utility funds Oh well sometimes shet happens I guess along with the 1/2 % cut and gold hitting $2611 and some are saying 3,000 woww I don't play gold,outta my league but that! is scary and pissing on that rate cut IMHO

GogoooooCOOP GLTA.
TGIF BABEEEEE, Have a great weekend people -Ts😉

👉COOP's increased their STOCK REPURCHASE PROGRAM to $270M (from $200M) according to their last report!

See (page 3): https://s1.q4cdn.com/275823140/files/doc_financials/2024/q2/2Q-24-Earnings-Presentation-FINAL1.pdf

This allows them to BUY BACK additional ~2.9M shares at the current PPS.

COOP already repurchased ~35% (=32.3M shares in total) of their originally outstanding common stock since inception, according to their presentation from the last earnings call above!

Thank you for your kind words. I am pleased if you have made profits with my posts. I have always read your posts, especially those about options, with great interest, but I have not ventured into options trading myself. Good luck for the future and all the best!

@ JWW....thanks for all your work that you do... I have made lots of money with your recommendations through the years by buying, and selling options with each upward movement in the share price....buying the dip (Pickstocks recommendation) has been lucrative for me... I will get a huge sum of money in my account when my January call options expire.... with this big hunk of cash, I will no longer go long on coop, but SELL PUTS EACH MONTH to bring in premium to finish out my long career in investing which started in 1961, or 62?... cant remember... I started options trading in 1972 when the CBOE went public... won some, lost some, but in the main it was profitable ... thanks again for all you do, and I will certainly be watching your posts into the new year.... Lodas

Good morning people, Hey LOASS Thanxs! good idea I had a double on the rocks and slept like a baby, one good turn deserves another , DONT forget ur Geritol pills this morning 🥴

People who held on to the shares are at least not unlucky.

Many sold, most recovered the Wamu losses and left, probably.

The business is growing extraordinary, Mr. Cooper is no ordinary stock, if you are honest. It is a bizarr stock. Probably JustNormal is just saying this, "hold on to the stock".

People who know me, could remember a similar reasoning. "By now, better hold on to this bizarr stock." So far, at least by now, it is not expensive. But make your own Investment decissions.

The (sold) shares come from the biggest holders, as you can check on your own at the Nasdaq website.

Worst case scenario is, they use company money to transer it to major holders, best case scenario is, WAMUs legacy doubles or tripples the size from Mr. Coopers Business.

As said, anybody needs to make his own investment decissions.

😊👍 Yeo!

JHD

have another Jameson, then go back to sleep....Lodas

Just doing some lite market reading and I did not realize that GOLD HIT $2611. today, most should know what the meaning of that in ref to the buck

GLTA-Ts

After analyzation of the situation After reading every documentation After hearing every elaboration After screaming my lungs off throughout the nation Looking for clues justification even Consideration Total stagnation I have zero appreciation .. Sincerely we got lost

Jhd Nahhhhhh ,maybe he’s just seasick 😉😂

GLTA-Ts

You use to be congenial, but you’re becoming more testy with each post. Observing from afar.

JHD

Anytime now….soon…real soon…

Maybe they missed the memo!……

Probably in the fine print. I was pushing for June 1, as being "the beginning" and then Septmber 1st and now October 22nd. - January 22? Time is money and they know it When there is a delay, they make money. I feel we are in the "one flew over the cocoker's nest" movie

"During 2023, five FDIC insured financial institutions failed, three of which are among
the largest failures in U.S. history. The first failure was Silicon Valley Bank, Santa Clara,
California, which failed on March 10, with $209 billion in assets, followed by Signature Bank,
New York, New York, which failed on March 12, with $110.4 billion in assets, and First Republic
Bank, San Francisco, California, which failed on May 1, with $212.6 billion in assets."

https://www.fdic.gov/system/files/2024-06/pl-2023-annual-report.pdf

"During 2023, five FDIC insured financial institutions failed, three of which are among
the largest failures in U.S. history. The first failure was Silicon Valley Bank, Santa Clara,
California, which failed on March 10, with $209 billion in assets, followed by Signature Bank,
New York, New York, which failed on March 12, with $110.4 billion in assets, and First Republic
Bank, San Francisco, California, which failed on May 1, with $212.6 billion in assets.

PG.6

Thanks RD for the reminder. They have missed two payments already. Any idea why?

Semper Fi

PRESS RELEASE | SEPTEMBER 5, 2024
FDIC-INSURED INSTITUTIONS REPORTED NET INCOME OF $71.5 BILLION
Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains
Community Bank Net Income Increased Quarter Over Quarter
The Net Interest Margin Declined Slightly, Driven by the Largest Banks
Domestic Deposits Decreased From the Prior Quarter
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent
Quarterly Banking Profile - Quarterly Net Income“The banking industry continued to show resilience in the second quarter. Net income increased and asset quality metrics remained generally favorable. However, the banking industry still faces significant downside risks from uncertainty in the economic outlook, market interest rates, and geopolitical events. In addition, weakness in certain loan portfolios, particularly office properties, credit cards, and multifamily loans, continues to warrant monitoring.”— FDIC Chairman Martin J. Gruenberg______________________________________________________________WASHINGTON— Reports from 4,539 commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $71.5 billion in second quarter 2024, an increase of $7.3 billion (11.4 percent) from the prior quarter. A decline in noninterest expense and one-time gains on equity security transactions contributed to the quarterly increase. These and other financial results for second quarter 2024 are included in the FDIC’s latest Quarterly Banking Profile released today.
The Industry’s Net Income Increased From the Prior Quarter, Driven By Lower Noninterest Expense and One-Time Gains: Second quarter net income for the 4,539 FDIC-insured commercial banks and savings institutions increased $7.3 billion (11.4 percent) from the prior quarter to $71.5 billion. A decline in noninterest expense (down $3.6 billion, or 2.4 percent) along with higher noninterest income (up $1.2 billion, or 1.5 percent) and higher gains on the sale of securities (up $937 million) were the primary factors driving the increase in net income. Higher provision expenses offset some of the increase in net income.
The quarterly increase in net income was largely driven by nonrecurring items including an estimated $4 billion reduction in reported expense related to the FDIC special assessment, approximately $10 billion in gains on equity security transactions by large banks, and the sale of an institution’s insurance division that resulted in an after-tax $4.9 billion gain.[1] These increases were partially offset by several large banks selling bond portfolios at a loss and a $2.7 billion increase in provision expense.
The banking industry reported an aggregate return-on-assets ratio (ROA) of 1.20 percent in second quarter 2024, up 12 basis points from first quarter 2024 but down one basis point from first quarter 2023.
Community Bank Net Income Increased Quarter Over Quarter: Quarterly net income for the 4,104 community banks insured by the FDIC was $6.4 billion in the second quarter, an increase of $72.6 million (1.1 percent) from first quarter 2024. Higher net interest income (up $546.4 million, or 2.7 percent) and higher noninterest income (up $253.9 million, or 5.0 percent) more than offset higher noninterest expense (up $365.7 million, or 2.1 percent) and higher provision expenses (up $140.5 million, or 18.2 percent). The community bank pretax ROA increased one basis point from last quarter to 1.14 percent.
The Net Interest Margin Declined Slightly, Driven by the Largest Banks: The industry’s net interest margin (NIM) declined one basis point to 3.16 percent in the second quarter as the growth in funding costs slightly exceeded the growth in earning-asset yields. The industry’s second quarter NIM was nine basis points below the pre-pandemic average NIM after falling below that level last quarter.[2] The NIM increased quarter over quarter for all size groups except for the largest banks, those with assets over $250 billion, who in aggregate reported a four basis-point decline in the NIM. The community bank NIM of 3.30 percent increased seven basis points quarter over quarter, reversing a five-quarter declining trend, but was still 33 basis points lower than the pre-pandemic average.
Asset Quality Metrics Remained Generally Favorable, Though Charge-Offs Increased: Noncurrent loans, or loans that are 90 days or more past due or in nonaccrual status, remained unchanged from the prior quarter at 0.91 percent of total loans and well below the pre-pandemic average of 1.28 percent. Despite the stability in overall noncurrent loans, the noncurrent rate for non-owner occupied commercial real estate loans of 1.77 percent was at its highest level since third quarter 2013, driven by office portfolios at the largest banks. However, these banks tend to have lower concentrations of such loans in relation to total assets and capital than smaller institutions, mitigating the overall risk.
The industry’s net charge-off rate increased three basis points to 0.68 percent from the prior quarter and was 20 basis points higher than the year-ago quarter. This ratio was also 20 basis points above the pre-pandemic average and remained the highest quarterly rate reported by the industry since second quarter 2013. The credit card net charge-off rate was 4.82 percent in the second quarter, up 13 basis points quarter over quarter and the highest rate reported since third quarter 2011.
Loan Balances Increased Modestly From the Prior Quarter and a Year Ago: Total loan and lease balances increased $125.8 billion (1.0 percent) from the previous quarter. The increase was driven by higher loans to nondepository financial institutions (NDFIs) (up $76.0 billion, or 9.6 percent) and consumer loans (up $25.8 billion, or 1.2 percent). Much of the growth in NDFI lending appears to be due to reclassification from other existing loan categories. The majority of banks (75.1 percent) reported quarterly loan growth, and all major loan categories except construction and development loans showed quarter-over-quarter growth.
Total loan and lease balances increased by $244.5 billion (2.0 percent) from the prior year. The annual increase was also led by loans to NDFIs (up $77.5 billion, or 9.8 percent), likely due to reclassifications in the second quarter, as well as credit card loans (up $77.0 billion, or 7.5 percent) and adjustable rate 1-4 family residential mortgage loans (up $69.3 billion, or 7.5 percent). A large majority of banks (82.9 percent) reported annual loan growth.
Community banks reported a 1.7 percent increase in loan and lease balances from the previous quarter and a 6.3 percent increase from the prior year. Growth in nonfarm, nonresidential CRE loans and 1-4 family residential mortgage loans drove both the quarterly and annual increases in loan and lease balances. Loan growth was broad based across community banks with over three quarters of such banks reporting higher loan balances from the prior quarter.
Domestic Deposits Decreased From the Prior Quarter: Domestic deposits decreased $197.7 billion (1.1 percent) from first quarter 2024, well below the pre-pandemic average second-quarter growth of 0.2 percent. Both savings and transaction deposits declined from the prior quarter, with growth in small time deposits partially offsetting the declines. Brokered deposits decreased for the second straight quarter, down $10.1 billion (0.8 percent) from the prior quarter. Banks with over $250 billion in assets drove the quarterly decline in deposits.
Estimated insured deposits decreased $96.0 billion (0.9 percent) and estimated uninsured domestic deposits decreased $50.4 billion (0.7 percent) during the quarter. Banks with assets greater than $250 billion reported lower uninsured deposits in the second quarter, while banks with assets less than $250 billion reported higher uninsured deposit levels.
The Deposit Insurance Fund Reserve Ratio Increased Four Basis Points to 1.21 Percent: In the second quarter, the Deposit Insurance Fund (DIF) balance increased $3.9 billion to $129.2 billion. The reserve ratio increased four basis points during the quarter to 1.21 percent.
The Total Number of Insured Institutions Declined: The total number of FDIC-insured institutions declined by 29 during the quarter to 4,539. Three banks were sold to credit unions and 26 institutions merged with other banks during the quarter. One bank failed in the second quarter but did not file a call report in the first quarter, and no banks opened.
# # #
ATTACHMENTS:
Quarterly Banking Profile Home Page (includes previous reports and press conference webcast videos)
Charts and Data
Chairman Gruenberg’s Press Statement
MEDIA CONTACT:
Julianne Breitbeil
202-340-2043
JBreitbeil@FDIC.gov
FDIC: PR-76-2024

Royal Dude
Re: Boris the Spider post# 733350
Sunday, August 25, 2024 4:48:39 PM
Post# of 733352 Go
Possibility of FDIC September 1st

PG. 30

Release of JPMC Escrow Account, Washington Mutual Escrow Account and FDIC Escrow Account. (i) JPMC, WMI and the FDIC Receiver shall jointly direct the custodian of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account to release all or a portion of the JPMC Escrow Account, the Washington Mutual Escrow Account and the FDIC Escrow Account as the case may be, to JPMC, WMI and the FDIC Receiver, respectively, as soon as is practicable after the earlier to occur of: (A) the date on which all Pre-2009 Group Tax Liabilities are finally determined and paid and the final amount of Net Tax Refunds Received has been determined and is not subject to change; and (B) the date on which JPMC (with respect to the Washington Mutual Escrow Account), WMI (with respect to the JPMC Escrow Account), or JPMC and WMI jointly (with respect to the FDIC Escrow Account), consents, in writing, to permit the release of all or such agreed portion of the JPMC Escrow Account, the Washington Mutual Escrow Account or the FDIC Escrow Account, as applicable (such consent, in each case, not to be unreasonably withheld or delayed); provided, however, that there shall be released from each escrow account at least quarterly (on or prior to each March 1, June 1, September 1 and December 1) fifty percent (50%) of all amounts earned by such escrow account with respect to assets held therein.

[Fdic.govwww.fdic.gov/system/files/2024-07/wamu-global-settlement-agreement.pdf]([https://www.fdic.gov/.../wamu-global-settlement-agreement...))

[Second Amended and Restated Settlement Agreement - FDIC]([https://www.fdic.gov/.../wamu-global-settlement-agreement...)
(https://www.fdic.gov/.../wamu-global-settlement-agreement...);;

settlement does not deplete the assets or increase the liabilities associated with the WaMu ... International Service Association, VISA, Inc., and the ...

We will be paid in the Series NN and reconstruction the past year using UQRS and others. IMO

"The Series NN Preferred Stock shall rank as to dividends and upon liquidation, dissolution or winding-up on a parity with the Corporation’s
Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series Q, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series R, Fixed-to-Floating
Rate Non-Cumulative Preferred Stock, Series S, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series U, Fixed-to-Floating Rate
Non-Cumulative Preferred Stock, Series X, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series CC, 5.75% Non-Cumulative Preferred
Stock, Series DD, 6.00% Non-Cumulative Preferred Stock, Series EE, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series FF, 4.75%
Non-Cumulative Preferred Stock, Series GG, Fixed-to-Floating Rate Non-Cumulative Preferred Stock, Series HH, Fixed-to-Floating Rate
Non-Cumulative Preferred Stock, Series II, 4.55% Non-Cumulative Preferred Stock, Series JJ, 3.65% Fixed-Rate Reset Non-Cumulative Preferred
Stock, Series KK, 4.625% Non-Cumulative Preferred Stock, Series LL and 4.20% Non-Cumulative Preferred Stock, Series MM."

https://jpmorganchaseco.gcs-web.com/static-files/499807a7-a220-4176-80ab-2925ce9f2d39
The Most Royal Dude