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Provisioning roughly equal to net charge-offs at US banks, thrifts in Q1

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Provisioning roughly equal to net charge-offs at US banks, thrifts in Q1

U.S. banks and thrifts made $12.40 billion in loan loss provisions in the first quarter, around 102.80% of net charge-offs, and down from $13.64 billion in the last quarter of 2017.

However, the provision-to-net charge-off ratio was below 100% at all the Big Four U.S. banks in the first quarter. Wells Fargo & Co. set aside $191.0 million in loan loss provisions in the first quarter, equal to only 25.78% of net charge-offs, the lowest proportion among the Big Four.

Wells Fargo's loan loss reserves were equal to 1.07% of gross loans as of March 31, which was even with the industry median, but also the lowest among the Big Four.

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