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Milwaukee’s Marshall & Ilsley Corp. on Monday reported a revised 2008 fourth quarter loss of $1.9 billion, or $7.25 a share, driven by a non-cash goodwill impairment charge. The bank, Wisconsin’s largest, had initially reported a 2008 fourth quarter net loss of $404 million, or $1.55 a share. The goodwill impairment charge of $1.5 billion, or $5.70 a share, is a non-cash accounting change that the company said will not affect cash flow or liquidity and will have a negligible impact on regulatory capital ratios.

“The goodwill impairment charge was driven by the decline in M&I's stock price and the deteriorating economy,” said Greg Smith, senior vice president and chief financial officer. M&I also reported a revised net loss of $2.1 billion, or $7.92 a share, for the 12 months ending Dec. 31, 2008. The company initially reported a net loss for the 12 months ending Dec. 31, 2008, of $568 million, or $2.19 a share.