JPMorgan Chase & Co. said on Friday that the early repayment of its federal bailout money will require a charge of $1.1 billion, or 27 cents per share, against its second-quarter results.
The New York banking company said it expects to incur the one-time, noncash charge after returning the $25 billion it received from the Troubled Asset Relief Program.
JPMorgan earned 40 cents per share in the first quarter.