JPMorgan to record $1.1 billion charge against 2Q earnings from TARP repayment

NEW YORK (AP) — JPMorgan Chase & Co. said Friday it expects to record a $1.1 billion charge against its second-quarter earnings from its early repayment of $25 billion in taxpayer money the bank received under a federal bailout program.New York-based JPMorgan disclosed in a Securities and Exchange Commission filing that it expects the noncash charge to shave 27 cents per share from its second-quarter earnings.Analysts surveyed by Thomson Reuters expect JPMorgan to post a profit of 37 cents per share, on average, for the quarter ended June 30. Analysts' estimates typically exclude one-time items like the charge that JPMorgan disclosed Friday.JPMorgan said it has paid more than $795.1 million in dividends on preferred stock it issued to the government under the Troubled Asset Relief Program, in addition to repaying the $25 billion principal.
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JPMorgan to record $1.1 billion charge against 2Q earnings from TARP repayment -- chicagotribune.com