by Calculated Risk on 4/15/2008 04:40:00 PM

From the WSJ: WaMu Reports $1.14 Billion Loss

Washington Mutual Inc., which has been rocked by the meltdown in the housing market, swung to a first-quarter loss of $1.14 billion amid increased provisions for credit losses.
...
WaMu on Tuesday also announced the closing of the $7 billion cash injection it announced last week.
...
WaMu's provision for credit losses soared to $3.51 billion from $234 million a year earlier. Net charge-offs, loans it doesn't think are collectable, rose to $1.37 billion from $737 million a year earlier. Non-performing assets rose to 2.87% of total assets from 1.02%.

A billion here, a billion there.