U.S. Banking Quarterly Review: 2Q15

...Net Income Generally Higher: Results for the largest 16 U.S. banks included in this report were generally higher on a linked-quarter basis, with 11 of the banks reporting higher net income sequentially. Results were aided by growth in spread and fee income, some incremental margin expansion, and still benign credit costs. Non-interest income benefitted from mortgage banking, wealth management, and investment banking, particularly loan syndication fees for the large regionals. Spread income was aided by earning asset growth, while expenses ticked up for some due to volume-related growth. Capital Markets Revenues Impact Big Six: Core results for the top six U.S. banks included below were split for the quarter, with WFC, BAC, and JPM all reporting higher core earnings on a linked-quarter basis. Capital markets revenues fell on a sequential basis following a seasonally strong 1Q15, though legal-related charges were much less of a factor than in prior periods, with the exception of GS. WFC's...

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