SUMMARY BOX: Wells Fargo 4Q Profit Rises 20 Pct

Published January 17, 2012 3:00PM (EST)

NEW YORK (AP) — PROFIT JUMPS: Wells Fargo & Co. posted a 20 percent gain in fourth-quarter profit, to $4.11 billion, or 73 cents per share.

DEPOSITS RISE: Average deposits rose 9 percent to $864.9 billion, as consumers opened more checking accounts and deposited more money in checking and savings accounts.

LENDING IMPROVES: The amount of mortgages the bank wrote jumped 35 percent compared with the third quarter to $120 billion. Average loans rose 2 percent from last year to $768.6 billion.

By Salon Staff

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