www.bloomberg.com/news//2013-12-18/...wamu-liabilities-1-.html
|
JPMs gesundung und wachstum durch washington mutual & bear stearns!!!
JPMC Quarterly Earnings 2007-2010:
Update: Added Tier I Capital ratios.
2Q 2010: Net Income $4.8B, EPS $1.09, Tier I 12.1%
1Q 2010: Net Income $3.3B, EPS $0.74, Tier I 11.5%
4Q 2009: Net Income $3.3B, EPS $0.74, Tier I 11.1%
3Q 2009: Net Income $3.6B, EPS $0.82, Tier I 10.2%
2Q 2009: Net Income $2.7B, EPS $0.28, Tier I 9.7% (TARP repayment/FDIC assessment)
1Q 2009: Net Income $2.1B, EPS $0.40, Tier I 11.3%
4Q 2008: Net Income $5.6B, EPS $1.37, Tier I 10.8%
3Q 2008: Net Income $527MM, EPS $0.11, Tier I 8.9% (WaMu received)
2Q 2008: Net Income $2.0B, EPS $0.54, Tier I 9.1% (Bear Stearns acquired)
1Q 2008: Net Income $2.4B, EPS $0.68, Tier I 8.3%
4Q 2007: Net Income $3.0B, EPS $0.86, Tier I 8.4%
3Q 2007: Net Income $3.4B, EPS $0.97, Tier I 8.4%
2Q 2007: Net Income $4.2B, EPS $1.20, Tier I 8.4%
1Q 2007: Net Income $4.8B, EPS $1.34, Tier I 8.5%
[Update2] Excerpts From the 2Q 2010 Financial Supplement. It appears WaMu's assets are not that bad as JPMC initially claimed:
Quote:
--------------------------------------------------
On September 25, 2008, JPMorgan Chase acquired the banking operations of Washington Mutual. The acquisition resulted in negative goodwill, and accordingly, the Firm recognized an extraordinary gain. A preliminary gain of $1.9 billion was recognized at December 31, 2008. The final total extraordinary gain that resulted from the Washington Mutual transaction was $2.0 billion. For the third quarter of 2009, and based on income before extraordinary gain, return on equity remained at 9%, return on tangible common equity was 13% and return on assets was 0.70%.
Excludes the impact of purchased credit-impaired loans that were acquired as part of the Washington Mutual transaction. These loans were accounted for at fair value on the acquisition date, which incorporated management's estimate, as of that date, of credit losses over the remaining life of the portfolio. An allowance for loan losses of $2.8 billion, $2.8 billion, $1.6 billion and $1.1 billion was recorded for these loans at June 30, 2010, March 31, 2010, December 31, 2009 and September 30, 2009, respectively, which has also been excluded from the applicable ratios. No allowance for loan losses was recorded at June 30, 2009. To date, no charge-offs have been recorded for these loans.
Results reflect the impact of purchase accounting adjustments related to the Washington Mutual transaction and the consolidation of the Washington Mutual Master Trust. Net charge-off rate is not impacted in the quarter ended June 30, 2010. Delinquency rates for June 30, 2010 and March 31, 2010 are not impacted.
Includes $1.0 billion, $3.0 billion and $5.0 billion of loans at December 31, 2009, September 30, 2009 and June 30, 2009, respectively, held by the Washington Mutual Master Trust, which were consolidated onto the Card Services balance sheet at fair value during the second quarter of 2009. No allowance for loan losses was recorded for these loans as of December 31, 2009, September 30, 2009 and June 30, 2009. Excluding these loans, the allowance for loan losses to period-end loans would have been 12.43%, 12.36% and 10.95%, respectively.
Excludes the impact of purchase accounting adjustments related to the Washington Mutual transaction and the consolidation of the Washington Mutual Master Trust. Net charge-off rate is not impacted in the quarter ended June 30, 2010. Delinquency rates for June 30, 2010 and March 31, 2010 are not impacted.
Purchased credit-impaired loans represent loans acquired in the Washington Mutual transaction for which a deterioration in credit quality occurred between the origination date and JPMorgan Chase's acquisition date. These loans were initially recorded at fair value and accrete interest income over the estimated lives of the loans as long as cash flows are reasonably estimable, even if the underlying loans are contractually past due.
Excludes home lending purchased credit-impaired loans that were acquired as part of the Washington Mutual transaction. These loans are accounted for on a pool basis, and the pools are considered to be performing. Also excludes loans held-for-sale and loans at fair value.
"In exchange for WaMu’s ongoing banking operations – i.e., for "purchas[ing] substantially all the assets and assum[ing] all deposit and substantially all other liabilities of WaMu" – JPMC paid $1.9 billion in cash. P&A Agreement, Art. VII; see Am. Compl. ¶ 86. According to JPMC, however, the fair value of the net assets it acquired from FDIC Receiver in the WaMu transaction (i.e., WaMu’s assets net of its liabilities) was $11.99 billion at the time of sale. See Ex. 9, JPMC 2009 Form 10-K (2/24/10) at 144. Thus, by JPMC’s own reckoning, the total fair value of the assets and liabilities it assumed under the P&A Agreement, even after “[a]djustments to reflect liabilities assumed at fair value,” was more than six times greater than JPMC’s $1.9 billion purchase price."
Lese ich das richtig in dem Bloomberg Artikel ? Heisst das, dass JPM für 1,9 Billionen USD Kaufpreis mindestens einen Gegenwert von 11,99 Billionen USD bekommen hat ?
OJ
|
Wertung | Antworten | Thema | Verfasser | letzter Verfasser | letzter Beitrag | |
60![]() | 67.838 | Coop SK Tippspiel (ehem. WMIH) | ranger100 | roka1 | 01:42 | |
162![]() | 86.781 | COOP News (ehemals: Wamu /WMIH) | Pjöngjang | baecki01 | 26.07.24 20:14 | |
46![]() | 13.723 | █ Der ESCROW - Thread █ | union | koelner01 | 26.07.24 13:14 | |
9![]() | 1.340 | WMIH + Cooper Info | Orakel99 | zocki55 | 24.07.24 23:07 | |
349![]() | 198.955 | Wamu WKN 893906 News ! | plusquamperfekt | union | 10.03.24 17:21 |