Discover Financial Services said its fiscal fourth-quarter profit fell 19 percent as the rate of bad loans increased.

Shares of the credit card lender fell $1.03, or 6.3 percent, to $15.39 in morning trading. The stock has ranged from $4.73 to $17.35 over the past year.

Discover’s provision for loan losses, or the amount it sets aside to cover bad loans, was $989 million, down from $1.11 billion in the same quarter a year ago but up from $924.4 million in the second quarter.

The company was one of hundreds of banks that received government assistance during the financial crisis. Unlike many large financial companies, however, Discover has yet to pay back the government. Earlier this week, Wells Fargo & Co. and Citigroup Inc. announced stock offerings to raise the cash needed to repay the bailout loans.