Wells Fargo Chairman and CEO John Stumpf recently presented at the Morgan Stanley investors conference. One of the more interesting charts he talked about was on slide #21 in which he shows the Deliquency rate and foreclosure rate of his bank versus his peers during the third quarter of 2010. Specifically:
- Wells Fargo - 6.1% Delinquent + 2.1% in foreclosure
- Citibank - 6.9% Delinquent and 2.6% of mortgages in foreclosure.
- JP Morgan Chase came in at 7.8% and 3.7% respectively
- Bank of America was the laggard of the bunch (Thanks to their countrywide acquisition) with a whopping 3.7% of loans in foreclosure and 10.6% seriously deliquent..
- You can click on the chart above for larger view of the data that Mr. Stumpf presented.
The CEO also showed a comparison during fiscal year 2010 for the charge-offs as a percentage of all loans for Wells Fargo and its peers. Citi took the most in charge-offs on debt (4.6%), followed by Bank of America (3.6%), JPM (3.4%), Wells (2.3%) and US Bank had the best performance with just 2.2% charged off.
Interestingly enough over the last 10 years, Citi was the worst and US Bank was the best.