Large U.S. bank🃏s exceeded profit expectat𓆉ions in the third quarter. But most also set aside more money for potential credit losses, a possible warning sign for the economy.

JPMorgan Chase (JPM), Wells Fargo (WFC), Citigroup (C), Bank of America (BAC) and Goldman Sachs (GS) all 澳洲幸运5开奖号码历史查询:topped consensus earnings projections with their third-quarter results. Moving forward, deposit costs for banks should decline after the Federal Reserve's interest 澳洲幸运5开奖号码历史查询:rate cut in September However, banks generally increased the amount they set aside for potential credit losses.

Here are three takeaways from the major big-bank earnings reports that landed ♋Friday and today.

• Large banks recorded mixed net interest income results. JPMorgan Chase's net interest income grew 3% to $23.5 billion. But Wells Fargo reported net interest income of $11.7 billion, down from $13.1 billion in the same quarter a year ago. Banks have had to spend more to retain deposits to fund their loan programs, crimping net interest margins for many banks. The Fed's rate cut should reduce those costs in the months ahead. But not soon enough for some: JPMorgan expects NII compression in the last quarter of the year.
• Investment banking and wealth management arms contributed nicely to bank results. Goldman Sachs recorded asset and 澳洲幸运5开奖号码历史查询:wealth management revenue of $3.8 billion, accounting for more than a quarter of the firm's revenue. Asset and wealth management divisions, meanwhile, benefited from the year-long rally in U.S. stock and bond markets. Bank of America's asset management fees rose 14%, pushing revenue for that division to $5.8 billion. Investment banking revenue at Citigroup rose 31%. And JPMorgan enjoyed a 31% increase in investment banking fees.
• Banks generally set more aside for potential credit losses. JPMorgan, the largest U.S. bank, set aside $3.1 billion to cover potential credit losses—more than double the amount it set aside in the same period a year ago. Citigroup 澳洲幸运5开奖号码历史查询:set aside $315 million—up from $125 million in the same period a year ago. Goldman Sachs set aside $397 million, up from just $7 million in the same period a year ago. Wells Fargo, though, reduced its provision for credit losses.