SUMMARY BOX: Wells Fargo 4Q profit rises 20 pct

AP News
|
Posted: Jan 17, 2012 9:59 AM
SUMMARY BOX: Wells Fargo 4Q profit rises 20 pct

PROFIT JUMPS: Wells Fargo & Co. posted a 20 percent gain in fourth-quarter profit, to $4.11 billion, or 73 cents per share.

DEPOSITS RISE: Average deposits rose 9 percent to $864.9 billion, as consumers opened more checking accounts and deposited more money in checking and savings accounts.

LENDING IMPROVES: The amount of mortgages the bank wrote jumped 35 percent compared with the third quarter to $120 billion. Average loans rose 2 percent from last year to $768.6 billion.