Banks have provided further evidence that they are weathering the oil-price bust so far. Going into first-quarter earnings season, one of the biggest worries hanging over banks had to do with their “unfunded” energy exposures . These are lines of credit to oil-and-gas companies that haven’t yet been tapped. At the four big, U.S. banks— J.P. Morgan Chase , JPM 0.92 % Bank of America , BAC 1.41 % Citigroup C 0.84 % and Wells Fargo , WFC 1.20 % unfunded exposure at the end of last year was actually bigger than total funded exposure, at $117 billion. The risk was that as companies in the oil patch hit trouble, they would rush to draw on their lines of credit. That could expose banks to far greater losses. The bad news for banks is that some drawdowns did indeed occur in the first quarter. The good news is that […]