Milwaukee-based Marshall & Ilsley Corp. today reported a net loss of $393.8 million, or $1.52 per share, for the second quarter of 2008.
That compares to a profitable net income of $178.9 million, or 68 cents per share, from continuing operations for the second quarter of 2007.
For the first half of the year, M&I had a net loss of $247.6 million, compared to profitable net income of $347.7 million, from continuing operations, for the first half of 2007.
The company said its losses are directly related to the problems with the nation's housing market. During the quarter the company took a provision for loan and lease losses of $866 million.
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