A look at stories across HousingWire’s weekend desk…with more coverage to come on bigger issues: Some of the nation’s largest banks are set to report quarterly results this week just as investors rid their portfolios of the once mighty blue chips. JPMorgan (JPM), Citigroup (C), Wells Fargo (WFC), and Bank of America (BAC) lost $49.3 billion of combined market capital last week as investors wonder if the foreclosure fiasco will hurt earnings, according to Bloomberg. JPMorgan reported third-quarter income of $4.4 billion last week. Bank of America results are coming Tuesday and Wells Fargo on Wednesday. Citi posted this morning. It will be interesting to see how much the banks start putting aside to cover costs associated with halting foreclosures, answering politician’s questions, and an almost certain coming wave of litigation. For its part, Citi said in this morning’s earning report that it holds $43.7 billion in capital for “allowance for loan losses.” Meanwhile, the Federal Reserve once again said last week that it’s prepared to take action when it deems necessary in order to met its dual mandates of maximum employment and price stability. So, as the Federal Open Market Committee gets set to convene in about two weeks, many foresee more purchases of Treasury securities, the so-called QE2, while others expect policy changes that will lead to a slight increase in inflation, and one wonders if the Fed will act soon at all. Three more banks were shuttered last week, bringing the number of failed banks this year to 132, inching closer to the 140 for all of 2009. Two banks in Missouri and one in Kansas closed last week. WestBridge Bank and Trust Company of Chesterfield, Mo., and Premier Bank of Jefferson City, Mo., were closed Friday by the Missouri Division of Finance. Premier Bank had nine branches with total assets of nearly $1.8 billion and total deposits of $1.03 billion at June 30. Providence Bank, Columbia, Mo., signed an agreement with the Federal Deposit Insurance Corporation to assume all of Premier’s deposits and purchase nearly $658 million of the assets. Midland States Bank of Effingham, Ill., agreed to acquire all $91.5 million of assets and $70.5 million of deposits of the single Westbridge branch. In Olathe, Kan., on Friday, the Office of Thrift Supervision closed the nine branches of Security Savings Bank. Simmons First National Bank in Pine Bluff, Ark., agreed to assume all $397 million of the failed banks deposits and nearly all of $508.4 million of assets. The FDIC estimates total costs of about $507.8 million to its deposit insurance fund from the three banks closing with $406.9 million attributable to Premier Bank. More than 10% of all FDIC-insured financial institutions are now on the regulator’s problem bank list. Write to Jason Philyaw.