NEW YORK (CNNMoney.com) -- Washington Mutual on Tuesday blamed continued troubles in the housing market for its previously reported $1.1 billion quarterly loss, adding that it has wrapped up its plans to raise $7 billion in capital from outside investors.
WaMu (WM, Fortune 500) shares declined about 1% in after-hours trading on the news, after climbing by nearly 3% in regular trade.
The Seattle-based bank provided a preliminary glimpse at its first-quarter results last week when it announced its plans to raise $7 billion in capital by selling a stake to an investment group led by the private equity firm TPG.
The company said Tuesday that it had since closed on that deal, leaving its capital levels well above its internal target levels.
"The completion of this offering demonstrates the confidence these major investors have expressed in WaMu's underlying value and its growth potential," company Chairman and CEO Kerry Killinger said in a statement.