The Dallas bank's full-year results showed progress toward its long-term strategic goals despite a fourth-quarter drop-off in net interest income heavily tied to its mortgage business, executives said on an earnings call.

After the Rhode Island-based company eliminated 650 positions, severance-related costs contributed to a 71% decline in quarterly net income.

The San Francisco-based bank warned for months that charge-offs were likely to start rising as some office-related loans went bad. It began to happen in the fourth quarter, which could be an omen for regional banks that have larger concentrations in the office sector.

The decline in profit came mainly from a $2.1 billion FDIC assessment and a $1.6 billion charge tied to the shift away from LIBOR.

JPMorgan Chase closed out the most profitable year in U.S. banking history with its seventh consecutive quarter of record net interest income and a surprise forecast that the windfall may continue this year. 

Both companies saw their stock rating cut because of their current valuation, similar to why Rocket's was previously dropped. They declined comment on the move.

Bank investors hope they can party like it's 1995, when the U.S. economy stayed healthy even after aggressive Federal Reserve rate hikes. But a few analysts are a bit more cautious over whether banks' loan books will hold up as well this time.

Relying on hope, as implied in the "survive until '25" slogan, is not a business strategy that will get a company through the year.

While plaintiffs allege there were misleading executive statements, the megalender pins early 2021 trading volatility on social media users briefly encouraged by the rocket emoji.

Analysts predict more modest job cuts over the winter after expenses rose 1% between the second and third quarters this year.