Originally published Thursday, April 16, 2009 at 1:11 PM
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WaMu helped JPMorgan-Chase earnings
The acquisition of Washington Mutual helped JPMorgan Chase report better-than-expected first quarter profits of $2.14 billion.
The acquisition of Washington Mutual helped JPMorgan Chase report better-than-expected first quarter profits of $2.14 billion.
The FDIC seized WaMu in September and sold assets to JPMorgan Chase for $1.9 billion.
The WaMu acquisition helped drive JPMorgan's commercial banking unit's income up 16 percent to $338 million.
Its retail banking unit earned $474 million, compared with last year's loss of $311 million.
Copyright © 2009 The Seattle Times Company
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