NEW YORK - JPMorgan Chase & Co., the country's biggest bank, says its second-quarter earnings surged from a year ago as profit from investment banking grew.
The bank made $6.1 billion in the second quarter after stripping out payments to preferred shareholders. That was up 32 percent from the same period a year ago, when it made $4.6 billion. Profit in the year-ago period was affected by a trading loss.
San Francisco-based Wells Fargo, one of the two largest banks by deposits in the Philadelphia region (along with TD Bank), reported earnings that were 19 percent better than a year ago. Revenue increased to $21.4 billion, and expenses were reduced, the bank reported.