Citigroup Earnings Sink

    In this Nov. 23, 2010 photo, the corporate logo for Citigroup is shown, in New York. The Federal Reserve on Wednesday, Dec. 1, 2010, named the companies that used its emergency loan programs during the financial crisis and revealing how much they borrowed.(AP Photo/Mark Lennihan)

    Mark Lennihan / AP Photos

    Well, that’s disappointing. Citigroup earned just 38 cents a share in the fourth quarter, well below the 97 cents a share that analysts had expected. Bank of America had fourth-quarter earnings of three cents a share, up from the two cents a share that analysts had forecast. Bank of America made $732 million in the fourth quarter of 2012, much less than the $1.99 billion it had made in the same period the year before. Both Citigroup and Bank of America were among the 10 banks that signed last week's $8.5 billion settlement with regulators over foreclosure and mortgage servicing issues in 2009 and 2010, and earnings forecasts for Bank of America plunged after that announcement.

    Read it at USA Today