Wachovia WB Q3 2007

Overall --EPS 89 cents/share, fell 10% to 1.69 bil, lower than est 1.04 --drivers: valuation losses of 1.3 bil --CEO Kennedy Thomson spent more than 30 bil in the past two years buying mortgage lender Golden West Financial Corp. (25 bil) and A.G Edwards brokeraage firm. Asset Quality --provision for credit loess $408 mil (108 06) --NIM 2.92 (3.03 06), trending down --net charge-offs rose 3 bps to 0.19% --Tier 1 capital ratio 7.2%, trending down Evaluation Comments