StockSelector.com
  Research, Select, & Monitor Sunday, September 23, 2018 3:36:02 PM ET  
Trade Ideas The Market Industries Stocks Portfolio

 
Ticker Lookup
Wells Fargo & Co.$54.99($.56)(1.01%)

  Quote | Ranking | Chart | Valuations | Sentiment | Industry | News | Earnings | Analysts | More...

Your Target?

 Wells Fargo Reports $5.7 Billion in Quarterly Net Income; Diluted EPS of $1.03
   Friday, January 15, 2016 8:00:21 AM ET

Wells Fargo & Company (WFC ):

-- Full year 2015: -- Net income of $23.0 billion, consistent with 2014

-- Diluted earnings per share (EPS) of $4.15, up 1 percent

-- Revenue of $86.1 billion, up 2 percent

-- Pre-tax pre-provision profit(1) of $36.3 billion, up 3 percent

-- Return on assets (ROA) of 1.32 percent and return on equity (ROE) of 12.68 percent

-- Returned $12.6 billion to shareholders through dividends and net share repurchases

-- Fourth quarter 2015: -- Net income of $5.7 billion, stable compared with fourth quarter 2014



-- Diluted EPS of $1.03, up 1 percent

-- Revenue of $21.6 billion, up 1 percent

-- Pre-tax pre-provision profit(1) of $9.2 billion, up 4 percent

-- ROA of 1.27 percent and ROE of 12.23 percent

-- Total average loans of $912.3 billion, up $62.9 billion, or 7 percent

-- Total average deposits of $1.2 trillion, up $67.0 billion, or 6 percent

-- Net charge-off rate of 0.36 percent (annualized), up from 0.34 percent

-- Nonaccrual loans down $1.5 billion, or 11 percent

-- No reserve build or release(2), compared with a $250 million release in fourth quarter 2014

-- Common Equity Tier 1 ratio (fully phased-in) of 10.7 percent(3)

-- Period-end common shares outstanding down 16.3 million from third quarter 2015

Endnotes can be found at end of release text.

Selected Financial Information
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                      Quarter ended                                                        Year ended Dec. 31,
                                                                                      -----------------------------------------------------------------------------------------------------------------------------------------------------                      -----------------------------------------------------------------------
                                                                     Dec 31,     Sep 30,     Dec 31,        2015                     2014
                                                                                                              2015                                              2015                                              2014
---------------------------------------------------------------- -------------------- ---------------------------  -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Earnings                                                                                                                                                                                        
Diluted earnings per common share                                                                        $    1.03                                              1.05                                              1.02                                              4.15                                                           4.10
Wells Fargo net income (in billions)                                                                          5.71                                              5.80                                              5.71                                             23.03                                                          23.06
Return on assets (ROA)                                                                                        1.27 %                                            1.32                                              1.36                                              1.32                                                           1.45
Return on equity (ROE)                                                                                       12.23                                             12.62                                             12.84                                             12.68                                                          13.41
Asset Quality
Net charge-offs (annualized) as a % of average total loans                                                    0.36 %                                            0.31                                              0.34                                              0.33                                                           0.35
Allowance for credit losses as a % of total loans                                                             1.37                                              1.39                                              1.53                                              1.37                                                           1.53
Allowance for credit losses as a % of annualized net charge-offs                                               380                                               450                                               452                                               433                                                            447
Other
Revenue (in billions)                                                                                    $    21.6                                              21.9                                              21.4                                              86.1                                                           84.3
Efficiency ratio                                                                                              57.4 %                                            56.7                                              59.0                                              57.8                                                           58.1
Average loans (in billions)                                                                              $   912.3                                             895.1                                             849.4                                             885.4                                                          834.4
Average deposits (in billions)                                                                             1,216.8                                           1,198.9                                           1,149.8                                           1,194.1                                                        1,114.1
Net interest margin                                                     2.92 %                         2.96        3.04        2.95                     3.11
---------------------------------------------------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                    

Wells Fargo & Company (WFC ) reported diluted earnings per common share of $4.15 for 2015, compared with $4.10 in 2014. Full year net income was $23.0 billion, compared with $23.1 billion in 2014. For fourth quarter 2015, net income was $5.7 billion, or $1.03 per share, compared with $5.7 billion, or $1.02 per share, for fourth quarter 2014, and $5.8 billion, or $1.05 per share, for third quarter 2015.

Chairman and CEO John Stumpf said, "Full year and fourth quarter 2015 results demonstrated the benefit of our diversified business model as we again generated strong financial results, maintained our risk discipline and continued to invest across the company for future growth. We remained focused on the building blocks of long-term shareholder value, with continued growth in loans, deposits and capital. For the 5th consecutive year, we returned more capital to shareholders than the prior year. I am proud of the dedication of our team members and their focus on helping our customers succeed financially."

Chief Financial Officer John Shrewsberry added, "Our performance in the fourth quarter reflected a continuation of the solid results we generated all year and the ability of our diversified business model to perform consistently across cycles. Compared with the prior quarter, we increased deposits and grew both commercial and consumer loans, while maintaining our credit and pricing discipline. Net interest income increased as we benefited from broad-based earning asset growth, and fee income remained diversified. We continued to have strong liquidity and capital levels, and our net payout ratio(4) was stable at 59 percent."

Net Interest Income

Net interest income in the fourth quarter increased $131 million from third quarter 2015 to $11.6 billion, largely driven by growth in earning assets. Income from variable sources, including periodic dividends, loan recoveries and fees included in interest income, also increased in the quarter. Net interest income also benefited modestly from the increase in short-term interest rates late in the quarter. These benefits to net interest income were partially offset by reduced income from seasonally lower balances of mortgages held-for-sale and increased interest expense from higher debt balances.

Net interest margin was 2.92 percent, down 4 basis points from third quarter 2015. Income from variable sources improved the net interest margin by approximately 2 basis points linked-quarter, but was more than offset by customer-driven deposit growth, which had a minimal impact to net interest income but was dilutive to the net interest margin by 3 basis points. All other growth, mix and repricing reduced the margin by 3 basis points, largely driven by increased debt balances, including funding raised in anticipation of closing the previously announced acquisitions of certain commercial lending businesses and assets from GE Capital.

Noninterest Income

Noninterest income in the fourth quarter was $10.0 billion, compared with $10.4 billion in third quarter 2015, down due to lower equity investment gains, which were elevated in the third quarter. Noninterest income benefited from higher debt securities gains, trading income (reflecting higher deferred compensation plan investment results which were largely offset in employee benefits expense), commercial real estate brokerage fees, mortgage banking, investment banking, card fees and insurance fees.

Mortgage banking noninterest income was $1.7 billion, up $71 million from third quarter, primarily driven by higher net servicing income. During the fourth quarter, residential mortgage loan originations were $47 billion, down $8 billion linked quarter on seasonality. The production margin on residential held-for-sale mortgage loan originations(5) was 1.83 percent, compared with 1.88 percent in third quarter. Net mortgage servicing rights (MSRs) results were $417 million, compared with $253 million in third quarter 2015.

Noninterest Expense

Noninterest expense in the fourth quarter was $12.4 billion, stable compared with third quarter 2015. Fourth quarter expenses included typically higher equipment, outside professional services and advertising, as well as an increase in deferred compensation expense (included in employee benefits expense and largely offset in revenue). These higher expenses were offset by lower operating losses, commissions and incentive compensation, as well as lower charitable donations, which were elevated in the third quarter due to a $126 million contribution to the Wells Fargo Foundation. Foreclosed asset expense also declined in the quarter, driven primarily by commercial real estate recoveries. The efficiency ratio was 57.4 percent in fourth quarter 2015, compared with 56.7 percent in the prior quarter. The Company expects to operate at the higher end of its targeted efficiency ratio range of 55 to 59 percent for full year 2016.

Loans

Total loans were $916.6 billion at December 31, 2015, up $13.3 billion from September 30, 2015. Fourth quarter loan growth was broad-based across all portfolios (other than real estate 1-4 family junior lien mortgages) and did not include any loan portfolio acquisitions. Core loan growth was $15.4 billion, or 2 percent, as non-strategic/liquidating portfolios declined $2.1 billion in the quarter. Total average loans were $912.3 billion in the fourth quarter, up $17.2 billion from the prior quarter.

                                                                                                                                               
-------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -------------------- -------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                           December 31, 2015                                                                                                                                September 30, 2015
                                                --------------------------------------------------------------------------------------------------------------------------------------------------------------------                      ----------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                           Core           Non-strategic       Total                     Core       Non-strategic                    Total
                                                                                                                          and liquidating (a)                                                                                                                                                            and liquidating
-------------------------- -------------------- ------------------------------  -------------------- -------------------- ------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- --------------------
Commercial                                                         $    456,115                     468                        456,583                                     446,832                 506                                     447,338
Consumer                          408,489                  51,487     459,976                  402,363              53,532                  455,895
-------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- --------------------
   Total loans                                  $    864,604                  51,955     916,559                  849,195              54,038                  903,233
-------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- --------------------
Change from prior quarter:                      $     15,409                  (2,083 )                       13,326                   17,095              (2,321 )                                    14,774
-------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- --------------------
(a) See table on page 32 for additional information on
non-strategic/liquidating loan portfolios. Management believes
that the above information provides useful disclosure regarding
the Company’s ongoing loan portfolios.
                                                                                                                                                                                                                                                                                                                                                                    

Investment Securities

Investment securities were $347.6 billion at December 31, 2015, up $2.5 billion from third quarter. The Company purchased approximately $25 billion of securities (mostly federal agency mortgage-backed securities and U.S. Treasury securities), which were offset by maturities, amortization and sales.

Net unrealized available-for-sale securities gains of $3.0 billion at December 31, 2015, declined from $4.9 billion at September 30, 2015, primarily due to rising rates and realized gains on debt and equity securities.

Deposits

Total average deposits for fourth quarter 2015 were $1.2 trillion, up 6 percent from a year ago, driven by both commercial and consumer growth. The average deposit cost for fourth quarter 2015 was 8 basis points, which was down 1 basis point from a year ago and unchanged from the prior quarter. The increase in deposits reflected strong account growth as the number of primary consumer checking customers(6) increased 5.6 percent year-over-year(7) and primary small business and business banking checking customers(6) increased 4.8 percent year-over-year(7).

Capital

Capital levels remained strong in the fourth quarter, with Common Equity Tier 1 (fully phased-in) of $142.5 billion, or 10.7 percent(3). In fourth quarter 2015, the Company purchased 27.0 million shares of its common stock and entered into a $500 million forward repurchase transaction for an additional 9.2 million shares which settled early in first quarter 2016. The Company paid a quarterly common stock dividend of $0.375 per share, up from $0.35 per share a year ago.

Credit Quality

"The trend of strong credit results continued in the fourth quarter," said Chief Risk Officer Mike Loughlin. "The quarterly loss rate (annualized) remained low at 0.36 percent and nonperforming assets declined by $497 million, or 15 percent (annualized), from the prior quarter. The allowance for credit losses in the fourth quarter was stable (no reserve build or release) as continued credit quality improvements in the residential real estate portfolio were offset by higher commercial reserves reflecting continued deterioration within the energy sector. Future allowance levels may increase or decrease based on a variety of factors, including loan growth, portfolio performance and general economic conditions."

Net Loan Charge-offs

The quarterly loss rate (annualized) of 0.36 percent reflected commercial losses of 0.16 percent and consumer losses of 0.56 percent. Credit losses were $831 million in fourth quarter 2015, compared with $703 million in the third quarter, mainly due to $90 million in higher oil and gas portfolio losses, as well as seasonal increases in the non-real estate consumer portfolios.

Net Loan Charge-Offs
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                      Quarter ended  
                                                                    --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                           December 31, 2015                                                                                 September 30, 2015                                                                                      June 30, 2015  
---------------------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------                      -------------------------------------------------------------------------------------------------------------------                      -------------------------------------------------------------------------------------------------------------------
($ in millions)                                                         Net loan                As a % of                            Net loan                As a % of                            Net loan                As a % of  
                                                                                            charge-                                                        average                                                                   charge-                                                        average                                                                   charge-                                                        average
                                                                                               offs                                                      loans (a)                                                                      offs                                                      loans (a)                                                                      offs                                                      loans (a)
---------------------------------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- --------------------
Commercial:                                                                                                                                                                                                                                                                                                                                                           
   Commercial and industrial                                                           $        215                                                           0.29 %                                                            $        122                                                           0.17 %                                                            $         81                                                           0.12 %
   Real estate mortgage                                                                         (19 )                                                        (0.06 )                                                                     (23 )                                                        (0.08 )                                                                     (15 )                                                        (0.05 )
   Real estate construction                                                                     (10 )                                                        (0.18 )                                                                      (8 )                                                        (0.15 )                                                                      (6 )                                                        (0.11 )
   Lease financing                                          1                                        0.01                                                      3                                        0.11                                                      2                                        0.06
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Total commercial                                          187                                        0.16                                                     94                                        0.08                                                     62                                        0.06
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Consumer:
   Real estate 1-4 family first mortgage                                                         50                                                           0.07                                                                        62                                                           0.09                                                                        67                                                           0.10
   Real estate 1-4 family junior lien mortgage                                                   70                                                           0.52                                                                        89                                                           0.64                                                                        94                                                           0.66
   Credit card                                                                                  243                                                           2.93                                                                       216                                                           2.71                                                                       243                                                           3.21
   Automobile                                                                                   135                                                           0.90                                                                       113                                                           0.76                                                                        68                                                           0.48
   Other revolving credit and installment                 146                                        1.49                                                    129                                        1.35                                                    116                                        1.26
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Total consumer                                            644                                        0.56                                                    609                                        0.53                                                    588                                        0.53
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
      Total                                                         $        831                                        0.36 %                                                            $        703                                        0.31 %                                                            $        650                                        0.30 %
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
                                                                                                
---------------------------------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- --------------------
(a) Quarterly net charge-offs as a percentage of average loans are
annualized. See explanation on page 31 of the accounting for
purchased credit-impaired (PCI) loans and the impact on selected
financial ratios.
                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Nonperforming Assets

Nonperforming assets declined by $497 million from third quarter 2015 to $12.8 billion. Nonaccrual loans decreased $155 million to $11.4 billion driven by improvements in commercial and consumer real estate portfolios, partially offset by an increase in commercial and industrial nonaccrual loans, primarily related to deterioration in the oil and gas portfolio. Foreclosed assets were $1.4 billion, down from $1.8 billion in third quarter 2015.

Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)
                                                                                                                                                                                                                  
---------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------
                                                                                                           December 31, 2015                                                                                 September 30, 2015                                                                                      June 30, 2015  
---------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------- -------------------- ------------------------------------------------------------------------------------------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------
($ in millions)                                                            Total                     As a                               Total                     As a                               Total                     As a  
                                                                                           balances                                                           % of                                                                  balances                                                           % of                                                                  balances                                                           % of
                                                                                                                                                             total                                                                                                                                    total                                                                                                                                    total
                                                                                                                                                             loans                                                                                                                                    loans                                                                                                                                    loans
---------------------------------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------  -------------------- -------------------- -------------------- --------------------
Commercial:                                                                                                                                                                                                                                                                                                  
   Commercial and industrial                                                           $      1,363                                                           0.45 %                                                            $      1,031                                                           0.35 %                                                            $      1,079                                                           0.38 %
   Real estate mortgage                                                                         969                                                           0.79                                                                     1,125                                                           0.93                                                                     1,250                                                           1.04
   Real estate construction                                                                      66                                                           0.30                                                                       151                                                           0.70                                                                       165                                                           0.77
   Lease financing                                         26                                        0.21                                                     29                                        0.24                                                     28                                        0.23
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Total commercial                                        2,424                                        0.53                                                  2,336                                        0.52                                                  2,522                                        0.58
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Consumer:
   Real estate 1-4 family first mortgage                                                      7,293                                                           2.66                                                                     7,425                                                           2.74                                                                     8,045                                                           3.00
   Real estate 1-4 family junior lien mortgage                                                1,495                                                           2.82                                                                     1,612                                                           2.95                                                                     1,710                                                           3.04
   Automobile                                                                                   121                                                           0.20                                                                       123                                                           0.21                                                                       126                                                           0.22
   Other revolving credit and installment                  49                                        0.13                                                     41                                        0.11                                                     40                                        0.11
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Total consumer                                          8,958                                        1.95                                                  9,201                                        2.02                                                  9,921                                        2.20
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
      Total nonaccrual loans                           11,382                                        1.24                                                 11,537                                        1.28                                                 12,443                                        1.40
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Foreclosed assets:
   Government insured/guaranteed                                                                446                                                                                                                                      502                                                                                                                                      588
   Non-government insured/guaranteed                      979                                                                                              1,265                                                                                              1,370  
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
      Total foreclosed assets                           1,425                                                                                              1,767                                                                                              1,958  
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
         Total nonperforming assets                                 $     12,807                                        1.40 %                                                            $     13,304                                        1.47 %                                                            $     14,401                                        1.62 %
---------------------------------------------- -------------------- -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------                                                                                     -------------------- ---------- --------------------
Change from prior quarter:
   Total nonaccrual loans                                                              $       (155 )                                                                                                                           $       (906 )                                                                                                                           $        (67 )
   Total nonperforming assets                            (497 )                                  (1,097 )                                    (438 )                         
---------------------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                      

Loans 90 Days or More Past Due and Still Accruing

Loans 90 days or more past due and still accruing (excluding government insured/guaranteed) totaled $981 million at December 31, 2015, up from $872 million at September 30, 2015. Loans 90 days or more past due and still accruing with repayments insured by the Federal Housing Administration (FHA) or predominantly guaranteed by the Department of Veterans Affairs (VA) for mortgage loans and the U.S. Department of Education for student loans under the Federal Family Education Loan Program were $13.4 billion at December 31, 2015, down from $13.5 billion at September 30, 2015.

Allowance for Credit Losses

The allowance for credit losses, including the allowance for unfunded commitments, totaled $12.5 billion at December 31, 2015, compared with $12.6 billion at September 30, 2015. The allowance coverage for total loans was 1.37 percent, compared with 1.39 percent in third quarter 2015. The allowance covered 3.8 times annualized fourth quarter net charge-offs, compared with 4.5 times in the prior quarter. The allowance coverage for nonaccrual loans was 110 percent at December 31, 2015, compared with 109 percent at September 30, 2015. "We believe the allowance was appropriate for losses inherent in the loan portfolio at December 31, 2015," said Loughlin.

Business Segment Performance

Wells Fargo defines its operating segments by product type and customer segment. Effective fourth quarter 2015, we realigned our business banking and merchant payment services businesses from Community Banking to Wholesale Banking. Results for these operating segments were revised for prior periods to reflect the impact of this realignment. Segment net income for each of the three business segments was:

                                                             
-------------------------------- -------------------- -------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                      Quarter ended
                                                      -------------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                              Dec 31,     Sep 30,                  Dec 31,
                                                                                 2015                                              2015                                                           2014
-------------------------------- -------------------- ------------------------------  -------------------- -------------------- ------- -------------------- -------------------- --------------------
Community Banking                                                        $      3,303       3,560                    3,333
Wholesale Banking                                                               2,104                                             1,925                                                          2,095
Wealth and Investment Management            595         606                      519
-------------------------------- -------------------- -------------------- ---------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
                                                                                                                                                                                   

Community Banking offers a complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and auto, student, and small business lending. Community Banking also offers investment, insurance and trust services in 39 states and D.C., and mortgage and home equity loans in all 50 states and D.C. through its Regional Banking and Wells Fargo Home Lending business units.

Selected Financial Information
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                             Quarter ended
                                                 ---------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                     Dec 31,     Sep 30,                  Dec 31,
                                                                        2015                                              2015                                                           2014
--------------------------- -------------------- --------------------------  -------------------- -------------------- ------- -------------------- -------------------- --------------------
Total revenue                                                       $ 12,330      12,933                   12,158
Provision for credit losses                                              704                                               668                                                            506
Noninterest expense                                                    6,693                                             6,778                                                          6,827
Segment net income                                                     3,303                                             3,560                                                          3,333
(in billions)
Average loans                                                          482.2                                             477.0                                                          469.6
Average assets                                                         921.4                                             898.9                                                          891.2
Average deposits                 663.7       655.6                    629.4
--------------------------- -------------------- -------------------- ------ -------------------- -------------------- ------- -------------------- -------------------- --------------------
                                                                                                                                                                          

Community Banking reported net income of $3.3 billion, down $257 million, or 7 percent, from third quarter 2015. Revenue of $12.3 billion decreased $603 million, or 5 percent, from third quarter 2015 due to lower equity investment gains and lower other income, partially offset by gains on deferred compensation plan investments (offset in employee benefits expense) and higher gains on sales of debt securities. Noninterest expense decreased $85 million, or 1 percent, due to a donation to the Wells Fargo Foundation in the prior quarter, as well as lower operating losses, partially offset by higher deferred compensation plan expense (offset in trading revenue), project-related expense, and advertising costs. The provision for credit losses increased $36 million from the prior quarter primarily due to higher net charge-offs.

Net income was down $30 million, or 1 percent, from fourth quarter 2014. Revenue was up $172 million, or 1 percent, compared with a year ago due to higher net interest income, market sensitive revenue, primarily equity investment gains and gains on sale of debt securities, mortgage banking fees, deposit service charges, debit and credit card fees, and trust and investment fees, partially offset by a gain on sale of government guaranteed student loans in the prior year. Noninterest expense decreased $134 million, or 2 percent, from a year ago driven by lower foreclosed assets expense, partially offset by higher equipment expenses and operating losses. The provision for credit losses increased $198 million from a year ago as the $48 million improvement in net charge-offs was more than offset by the absence of a reserve release in fourth quarter 2015.

Regional Banking

-- Retail Banking -- Primary consumer checking customers(6) up 5.6 percent year-over-year(7)

-- Debit card purchase volume(8) of $73 billion in fourth quarter, up 8 percent year-over-year

-- Retail Bank household cross-sell ratio(9) of 6.11 products per household, compared with 6.17 year-over-year(7)

-- Customers rated their overall experience, satisfaction with visit, and loyalty with Wells Fargo stores at all-time highs based on fourth quarter 2015 survey results

-- Online and Mobile Banking -- 26.4 million active online customers, up 7 percent year-over-year(7)

-- 16.2 million active mobile customers, up 14 percent year-over-year(7)

Consumer Lending Group

-- Home Lending -- Originations of $47 billion, down from $55 billion in prior quarter

-- Applications of $64 billion, down from $73 billion in prior quarter

-- Application pipeline of $29 billion at quarter end, down from $34 billion at September 30, 2015

-- Consumer Credit -- Credit card purchase volume of $19 billion in fourth quarter, up 12 percent year-over-year

-- Credit card penetration in retail banking households rose to 43.4 percent, up from 41.5 percent in prior year

-- Highest ranking (A- grade) in Corporate Insight assessment of credit card issuer rewards redemption options (December 2015)

-- Auto originations of $7.6 billion in fourth quarter, down 9 percent from prior quarter and up 13 percent from prior year

Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $5 million. Products and businesses include Business Banking, Middle Market Commercial Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Treasury Management, Wells Fargo Capital Finance, Insurance, International, Real Estate Capital Markets, Commercial Mortgage Servicing, Corporate Trust, Equipment Finance, Wells Fargo Securities, Principal Investments and Asset Backed Finance.

Selected Financial Information
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                       Quarter ended  
                                                                         ---------------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                                            Dec 31,     Sep 30,     Dec 31,  
                                                                                               2015                                              2015                                              2014
--------------------------------------------------- -------------------- -------------------------  -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Total revenue                                                                               $ 6,559       6,326       6,532
Provision (reversal of provision) for credit losses                                             126                                                36                                               (33 )
Noninterest expense                                                                           3,491                                             3,503                                             3,533
Segment net income                                                                            2,104                                             1,925                                             2,095
(in billions)
Average loans                                                                                 417.0                                             405.6                                             369.0
Average assets                                                                                755.4                                             739.1                                             668.8
Average deposits                                        449.3       442.0       424.0  
--------------------------------------------------- -------------------- -------------------- ----- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
                                                                                                                                                                                                         

Wholesale Banking reported net income of $2.1 billion, up $179 million, or 9 percent, from third quarter 2015. Revenue of $6.6 billion increased $233 million, or 4 percent, from prior quarter. Net interest income increased $100 million, or 3 percent, primarily from broad based loan growth. Noninterest income increased $133 million, or 5 percent, on strong results in commercial real estate related businesses with growth in commercial real estate brokerage, multi-family capital, structured real estate and community lending, as well as higher investment banking fees, equity fund investments gains and crop insurance underwriting gains, partially offset by lower customer accommodation trading revenue. Noninterest expense decreased $12 million as higher variable compensation expenses were more than offset by lower operating losses and foreclosed assets expense. The provision for credit losses increased $90 million from prior quarter due to increased loan losses primarily related to the oil and gas portfolio.

Net income was up $9 million from fourth quarter 2014. Revenue increased $27 million from fourth quarter 2014, on $78 million, or 2 percent, growth in net interest income related to strong loan and deposit growth, offset by a $51 million, or 2 percent, decline in noninterest income. Noninterest income declined as higher commercial real estate brokerage, structured real estate, and multi-family capital results as well as increased equity fund investment gains and higher crop insurance underwriting gains were offset by lower customer accommodation trading revenues, energy portfolio write-downs and lower investment banking fees. Noninterest expense increased $42 million, or 1 percent, from a year ago primarily due to higher personnel expenses related to growth initiatives, compliance, and regulatory requirements. The provision for credit losses increased $159 million from a year ago due to increased loan losses primarily related to the oil and gas portfolio.

-- Average loans increased 13 percent from fourth quarter 2014, on broad-based growth, including asset-backed finance, commercial banking, commercial real estate, corporate banking, equipment finance, and structured real estate

-- Cross-sell of 7.3 products per relationship, up 0.1 from fourth quarter 2014(10)

-- Treasury management revenue up 7 percent from fourth quarter 2014

-- Wells Fargo Treasury Management Services’ Wholesale Lockbox Network ranked as fastest in the United States(11)

Wealth and Investment Management (formerly Wealth, Brokerage and Retirement) provides a full range of personalized wealth management, investment and retirement products and services to clients across U.S. based businesses including Wells Fargo Advisors, The Private Bank, Abbot Downing, Wells Fargo Institutional Retirement and Trust, and Wells Fargo Asset Management. We deliver financial planning, private banking, credit, investment management and fiduciary services to high-net worth and ultra-high-net worth individuals and families. We also serve customers’ brokerage needs, supply retirement and trust services to institutional clients and provide investment management capabilities delivered to global institutional clients through separate accounts and the Wells Fargo Funds.

Selected Financial Information
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                    Quarter ended
                                                                         --------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                                            Dec 31,     Sep 30,                  Dec 31,
                                                                                               2015                                              2015                                                           2014
--------------------------------------------------- -------------------- -------------------------  -------------------- -------------------- ------- -------------------- -------------------- --------------------
Total revenue                                                                               $ 3,947                          3,878                                       3,913
Provision (reversal of provision) for credit losses                                              (6 )                                              (6 )                                                            8
Noninterest expense                                                                           2,998                                             2,909                                                          3,066
Segment net income                                                                              595                                               606                                                            519
(in billions)
Average loans                                                                                  63.0                                              61.1                                                           54.8
Average assets                                                                                197.9                                             192.6                                                          188.2
Average deposits                                        177.9       172.6                    165.5
--------------------------------------------------- -------------------- -------------------- ----- -------------------- -------------------- ------- -------------------- -------------------- --------------------
                                                                                                                                                                                                 

Wealth and Investment Management (WIM) reported net income of $595 million, down $11 million, or 2 percent, from third quarter 2015. Revenue of $3.9 billion increased $69 million, or 2 percent, from the prior quarter, primarily from higher gains on deferred compensation plan investments (offset in employee benefits expense) and higher net interest income, partially offset by lower asset-based fees. Noninterest expense increased $89 million, or 3 percent, from the prior quarter, primarily due to higher deferred compensation plan expense, partially offset by lower broker commissions. The provision for credit losses was flat from third quarter 2015.

Net income was up $76 million, or 15 percent, from fourth quarter 2014. Revenue increased $34 million, or 1 percent, from a year ago on growth in net interest income, partially offset by lower asset-based fees. Noninterest expense decreased $68 million, or 2 percent, from a year ago, due to lower broker commissions, as well as lower non-personnel expenses. The provision for credit losses decreased $14 million from a year ago.

Retail Brokerage

-- Client assets of $1.4 trillion, down 2 percent from prior year

-- Managed account assets of $420 billion, down 1 percent from prior year, as lower market valuations were partially offset by net flows

-- Strong loan growth, with average balances up 24 percent from prior year largely due to continued growth in non-conforming mortgage loans and security-based lending

Wealth Management

-- Client assets of $225 billion, flat from prior year

-- Average loan balances up 11 percent over prior year primarily driven by continued growth in non-conforming mortgage loans, commercial loans and security-based lending

Retirement

-- IRA assets of $354 billion, down 2 percent from prior year

-- Institutional Retirement plan assets of $334 billion, down 2 percent from prior year

Asset Management

-- Total assets under management of $490 billion, down $6 billion from fourth quarter 2014 as equity outflows and lower market valuations were partially offset by fixed income net client inflows

Brokerage and Wealth cross-sell ratio of 10.55 products per household, up from 10.49 a year ago(7)

Conference Call

The Company will host a live conference call on Friday, January 15, at 7 a.m. PT (10 a.m. ET). You may participate by dialing 866-872-5161 (U.S. and Canada) or 706-643-1962 (International). The call will also be available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and at https://engage.vevent.com/rt/wells_fargo_ao~011516.

A replay of the conference call will be available beginning at 10 a.m. PT (1 p.m. ET) on Friday, January 15 through Sunday, January 24. Please dial 855-859-2056 (U.S. and Canada) or 404-537-3406 (International) and enter Conference ID #29684900. The replay will also be available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and at https://engage.vevent.com/rt/wells_fargo_ao~011516.

 
Endnotes
(1)      Pre-tax pre-provision profit (PTPP) is total revenue less
                            noninterest expense. Management believes that PTPP is a useful
                            financial measure because it enables investors and others to assess
                            the Company’s ability to generate capital to cover credit losses
                            through a credit cycle.
(2)                         Reserve release represents the amount by which net charge-offs
                            exceed the provision for credit losses.
(3)                         See table on page 35 for more information on Common Equity Tier 1.
                            Common Equity Tier 1 (fully phased-in) is a preliminary estimate and
                            is calculated assuming the full phase-in of the Basel III capital
                            rules.
(4)                         Net payout ratio means the ratio of (i) common stock dividends and
                            share repurchases less issuances and stock compensation-related
                            items, divided by (ii) net income applicable to common stock.
(5)                         Production margin represents net gains on residential mortgage loan
                            origination/sales activities divided by total residential
                            held-for-sale mortgage originations. See the Selected Five Quarter
                            Residential Mortgage Production Data table on page 40 for more
                            information.
(6)                         Customers who actively use their checking account with transactions
                            such as debit card purchases, online bill payments, and direct
                            deposit.
(7)                         Data as of November 2015, comparisons with November 2014.
(8)                         Combined consumer and business debit card purchase volume dollars.
(9)                         November 2015 Retail Bank household cross-sell ratio includes the
                            impact of the sale of government guaranteed student loans in fourth
                            quarter 2014.
(10)                        Cross-sell reported on a one-quarter lag and does not reflect
                            Business Banking relationships. Business Banking realigned from
                            Community Banking to Wholesale Banking effective fourth quarter 2015.
(11)                        Based on the 2015 Fall Phoenix-Hecht
                            Mail Study. Phoenix-Hecht network rankings use all provider
                            surveyed sites with an assumed locally disbursed check sample.
                             

Forward-Looking Statements

This document contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, we may make forward-looking statements in our other documents filed or furnished with the SEC, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "target," "projects," "outlook," "forecast," "will," "may," "could," "should," "can" and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company, including our outlook for future growth; (ii) our noninterest expense and efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses and allowance levels; (iv) the appropriateness of the allowance for credit losses; (v) our expectations regarding net interest income and net interest margin; (vi) loan growth or the reduction or mitigation of risk in our loan portfolios; (vii) future capital levels or targets and our estimated Common Equity Tier 1 ratio under Basel III capital standards; (viii) the performance of our mortgage business and any related exposures; (ix) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (x) future common stock dividends, common share repurchases and other uses of capital; (xi) our targeted range for return on assets and return on equity; (xii) the outcome of contingencies, such as legal proceedings; and (xiii) the Company’s plans, objectives and strategies.

Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

-- current and future economic and market conditions, including the effects of declines in housing prices, high unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, and the overall slowdown in global economic growth;

-- our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;

-- financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;

-- the extent of our success in our loan modification efforts, as well as the effects of regulatory requirements or guidance regarding loan modifications;

-- the amount of mortgage loan repurchase demands that we receive and our ability to satisfy any such demands without having to repurchase loans related thereto or otherwise indemnify or reimburse third parties, and the credit quality of or losses on such repurchased mortgage loans;

-- negative effects relating to our mortgage servicing and foreclosure practices, as well as changes in industry standards or practices, regulatory or judicial requirements, penalties or fines, increased servicing and other costs or obligations, including loan modification requirements, or delays or moratoriums on foreclosures;

-- our ability to realize our efficiency ratio target as part of our expense management initiatives, including as a result of business and economic cyclicality, seasonality, changes in our business composition and operating environment, growth in our businesses and/or acquisitions, and unexpected expenses relating to, among other things, litigation and regulatory matters;

-- the effect of the current low interest rate environment or changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale;

-- significant turbulence or a disruption in the capital or financial markets, which could result in, among other things, reduced investor demand for mortgage loans, a reduction in the availability of funding or increased funding costs, and declines in asset values and/or recognition of other-than-temporary impairment on securities held in our investment securities portfolio;

-- the effect of a fall in stock market prices on our investment banking business and our fee income from our brokerage, asset and wealth management businesses;

-- reputational damage from negative publicity, protests, fines, penalties and other negative consequences from regulatory violations and legal actions;

-- a failure in or breach of our operational or security systems or infrastructure, or those of our third party vendors or other service providers, including as a result of cyber attacks;

-- the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;

-- fiscal and monetary policies of the Federal Reserve Board; and

-- the other risk factors and uncertainties described under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014.

In addition to the above factors, we also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements (including under Basel capital standards), common stock issuance requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions.

For more information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under "Risk Factors" in our Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.

Any forward-looking statement made by us speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Wells Fargo

Wells Fargo & Company (WFC ) is a diversified, community-based financial services company with $1.8 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through 8,700 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 265,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 30 on Fortune’s 2015 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially.

                                                                    
                                   Wells Fargo & Company and Subsidiaries
                                          QUARTERLY FINANCIAL DATA
                                              TABLE OF CONTENTS
                                                   
------------------------------------------------------------------ -------------------- --------------------
                                                                                                Pages
                                                                                        --------------------
                                                                                         
Summary Information
------------------------------------------------------------------
Summary Financial Data                                                                                    16
                                                                                         
Income
------------------------------------------------------------------
Consolidated Statement of Income                                                                          18
Consolidated Statement of Comprehensive Income                                                            20
Condensed Consolidated Statement of Changes in Total Equity                                               20
Average Balances, Yields and Rates Paid (Taxable-Equivalent Basis)                                        21
Five Quarter Average Balances, Yields and Rates Paid                                                      22
(Taxable-Equivalent Basis)
Noninterest Income and Noninterest Expense                                                                24
                                                                                         
Balance Sheet
------------------------------------------------------------------
Consolidated Balance Sheet                                                                                26
Investment Securities                                                                                     28
                                                                                         
Loans
------------------------------------------------------------------
Loans                                                                                                     28
Nonperforming Assets                                                                                      29
Loans 90 Days or More Past Due and Still Accruing                                                         30
Purchased Credit-Impaired Loans                                                                           31
Pick-A-Pay Portfolio                                                                                      32
Non-Strategic and Liquidating Loan Portfolios                                                             32
Changes in Allowance for Credit Losses                                                                    33
                                                                                         
Equity
------------------------------------------------------------------
Common Equity Tier 1 Under Basel III                                                                      35
                                                                                         
Operating Segments
------------------------------------------------------------------
Operating Segment Results                                                                                 36
                                                                                         
Other
------------------------------------------------------------------
Mortgage Servicing and other related data                                                                 38
                                                                                         
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
Wells Fargo & Company and Subsidiaries
SUMMARY FINANCIAL DATA
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                   Quarter ended                                                                                                                                 % Change                                                                                                                                          Year ended  
                                                                                                                                                                                                                                                                                                                                                                                                                                           Dec 31, 2015 from
                                                                                                                -----------------------------------------------------------------------------------------------------------------------------------------------------------------------          --------------------                                           ----------------------------------------------------------------------------------------     --------------------                                           --------------------------------------------------------------------------------------------------      --------------------
($ in millions, except per share amounts)                                                        Dec 31,         Sep 30,         Dec 31,              Sep 30,              Dec 31,                              Dec 31,         Dec 31,                    %  
                                                                                                                                          2015                                                                     2015                                                                     2014                                                                          2015                                                                          2014                                                                                          2015                                                                     2014                                                                        Change
--------------------------------------------------------------------- -------------------- -------------------- -----------------------------  -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -----------------------------  -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
For the Period                                                                                                                                                                                                                                                                                                                                                                                                             
Wells Fargo net income                                                                                                             $     5,709                                                                    5,796                                                                    5,709                                                                            (2 )%                                                             --                                                                                   $    23,028                                                                   23,057                                                                -- %
Wells Fargo net income applicable to common stock                                                                                        5,337                                                                    5,443                                                                    5,382                                                                            (2 )                                                                          (1 )                                                                                      21,604                                                                   21,821                                                                            (1 )
Diluted earnings per common share                                                                                                         1.03                                                                     1.05                                                                     1.02                                                                            (2 )                                                                           1                                                                                          4.15                                                                     4.10                                                                             1
Profitability ratios (annualized):
   Wells Fargo net income to average assets (ROA)                                                                                         1.27 %                                                                   1.32                                                                     1.36                                                                            (4 )                                                                          (7 )                                                                                        1.32                                                                     1.45                                                                            (9 )
   Wells Fargo net income applicable to common stock to average Wells                                                                    12.23                                                                    12.62                                                                    12.84                                                                            (3 )                                                                          (5 )                                                                                       12.68                                                                    13.41                                                                            (5 )
   Fargo common stockholders’ equity (ROE)
Efficiency ratio (1)                                                                                                                      57.4                                                                     56.7                                                                     59.0                                                                             1                                                                            (3 )                                                                                        57.8                                                                     58.1                                                                            (1 )
Total revenue                                                                                                                      $    21,586                                                                   21,875                                                                   21,443                                                                            (1 )                                                                           1                                                                                   $    86,057                                                                   84,347                                                                             2
Pre-tax pre-provision profit (PTPP) (2)                                                                                                  9,187                                                                    9,476                                                                    8,796                                                                            (3 )                                                                           4                                                                                        36,283                                                                   35,310                                                                             3
Dividends declared per common share                                                                                                      0.375                                                                    0.375                                                                     0.35                                                                --                                                                             7                                                                                         1.475                                                                     1.35                                                                             9
Average common shares outstanding                                                                                                      5,108.5                                                                  5,125.8                                                                  5,192.5                                                                --                                                                            (2 )                                                                                     5,136.5                                                                  5,237.2                                                                            (2 )
Diluted average common shares outstanding                                                                                              5,177.9                                                                  5,193.8                                                                  5,279.2                                                                --                                                                            (2 )                                                                                     5,209.8                                                                  5,324.4                                                                            (2 )
Average loans                                                                                                                      $   912,280                                                                  895,095                                                                  849,429                                                                             2                                                                             7                                                                                   $   885,432                                                                  834,432                                                                             6
Average assets                                                                                                                       1,787,287                                                                1,746,402                                                                1,663,760                                                                             2                                                                             7                                                                                     1,742,919                                                                1,593,349                                                                             9
Average total deposits                                                                                                               1,216,809                                                                1,198,874                                                                1,149,796                                                                             1                                                                             6                                                                                     1,194,073                                                                1,114,144                                                                             7
Average consumer and small business banking deposits (3)                                                                               696,484                                                                  683,245                                                                  648,659                                                                             2                                                                             7                                                                                       680,221                                                                  639,196                                                                             6
Net interest margin                                                                                                                       2.92 %                                                                   2.96                                                                     3.04                                                                            (1 )                                                                          (4 )                                                                                        2.95                                                                     3.11                                                                            (5 )
At Period End
Investment securities                                                                                                              $   347,555                                                                  345,074                                                                  312,925                                                                             1                                                                            11                                                                                   $   347,555                                                                  312,925                                                                            11
Loans                                                                                                                                  916,559                                                                  903,233                                                                  862,551                                                                             1                                                                             6                                                                                       916,559                                                                  862,551                                                                             6
Allowance for loan losses                                                                                                               11,545                                                                   11,659                                                                   12,319                                                                            (1 )                                                                          (6 )                                                                                      11,545                                                                   12,319                                                                            (6 )
Goodwill                                                                                                                                25,529                                                                   25,684                                                                   25,705                                                                            (1 )                                                                          (1 )                                                                                      25,529                                                                   25,705                                                                            (1 )
Assets                                                                                                                               1,787,632                                                                1,751,265                                                                1,687,155                                                                             2                                                                             6                                                                                     1,787,632                                                                1,687,155                                                                             6
Deposits                                                                                                                             1,223,312                                                                1,202,179                                                                1,168,310                                                                             2                                                                             5                                                                                     1,223,312                                                                1,168,310                                                                             5
Common stockholders’ equity                                                                                                            172,170                                                                  172,089                                                                  166,433                                                                --                                                                             3                                                                                       172,170                                                                  166,433                                                                             3
Wells Fargo stockholders’ equity                                                                            193,132                                                                  193,051                                                                  184,394                                                                --                                                                             5                                                                                       193,132                                                                  184,394                                                                             5
Total equity                                                                                                                           194,025                                                                  194,043                                                                  185,262                                                                --                                                                             5                                                                                       194,025                                                                  185,262                                                                             5
Common shares outstanding                                                                                                              5,092.1                                                                  5,108.5                                                                  5,170.3                                                                --                                                                            (2 )                                                                                     5,092.1                                                                  5,170.3                                                                            (2 )
Book value per common share (4)                                                                                                    $     33.81                                                                    33.69                                                                    32.19                                                                --                                                                             5                                                                                   $     33.81                                                                    32.19                                                                             5
Common stock price:
   High                                                                                                                                  56.34                                                                    58.77                                                                    55.95                                                                            (4 )                                                                           1                                                                                         58.77                                                                    55.95                                                                             5
   Low                                                                                                                                   49.51                                                                    47.75                                                                    46.44                                                                             4                                                                             7                                                                                         47.75                                                                    44.17                                                                             8
   Period end                                                                                                                            54.36                                                                    51.35                                                                    54.82                                                                             6                                                                            (1 )                                                                                       54.36                                                                    54.82                                                                            (1 )
Team members (active, full-time equivalent)                                   264,700         265,200         264,500       --       --           264,700         264,500       --  
--------------------------------------------------------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
(1) The efficiency ratio is noninterest expense divided by total
revenue (net interest income and noninterest income).
(2) Pre-tax pre-provision profit (PTPP) is total revenue less
noninterest expense. Management believes that PTPP is a useful
financial measure because it enables investors and others to
assess the Company’s ability to generate capital to cover credit
losses through a credit cycle.
(3) Consumer and small business banking deposits are total deposits
excluding mortgage escrow and wholesale deposits.
(4) Book value per common share is common stockholders’ equity
divided by common shares outstanding.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                   
 
Wells Fargo & Company and Subsidiaries
FIVE QUARTER SUMMARY FINANCIAL DATA
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                               Quarter ended
                                                                                                                ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
($ in millions, except per share amounts)                                                        Dec 31,         Sep 30,         Jun 30,         Mar 31,                    Dec 31,
                                                                                                                                          2015                                                                     2015                                                                     2015                                                                     2015                                                                                2014
--------------------------------------------------------------------- -------------------- -------------------- -----------------------------  -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
For the Quarter                                                                                                                                                                                                        
Wells Fargo net income                                                                                                             $     5,709                                                                    5,796                                                                    5,719                                                                    5,804                                                                               5,709
Wells Fargo net income applicable to common stock                                                                                        5,337                                                                    5,443                                                                    5,363                                                                    5,461                                                                               5,382
Diluted earnings per common share                                                                                                         1.03                                                                     1.05                                                                     1.03                                                                     1.04                                                                                1.02
Profitability ratios (annualized):
   Wells Fargo net income to average assets (ROA)                                                                                         1.27 %                                                                   1.32                                                                     1.33                                                                     1.38                                                                                1.36
   Wells Fargo net income applicable to common stock to average Wells                                                                    12.23                                                                    12.62                                                                    12.71                                                                    13.17                                                                               12.84
   Fargo common stockholders’ equity (ROE)
Efficiency ratio (1)                                                                                                                      57.4                                                                     56.7                                                                     58.5                                                                     58.8                                                                                59.0
Total revenue                                                                                                                      $    21,586                                                                   21,875                                                                   21,318                                                                   21,278                                                                              21,443
Pre-tax pre-provision profit (PTPP) (2)                                                                                                  9,187                                                                    9,476                                                                    8,849                                                                    8,771                                                                               8,796
Dividends declared per common share                                                                                                      0.375                                                                    0.375                                                                    0.375                                                                     0.35                                                                                0.35
Average common shares outstanding                                                                                                      5,108.5                                                                  5,125.8                                                                  5,151.9                                                                  5,160.4                                                                             5,192.5
Diluted average common shares outstanding                                                                                              5,177.9                                                                  5,193.8                                                                  5,220.5                                                                  5,243.6                                                                             5,279.2
Average loans                                                                                                                      $   912,280                                                                  895,095                                                                  870,446                                                                  863,261                                                                             849,429
Average assets                                                                                                                       1,787,287                                                                1,746,402                                                                1,729,278                                                                1,707,798                                                                           1,663,760
Average total deposits                                                                                                               1,216,809                                                                1,198,874                                                                1,185,304                                                                1,174,793                                                                           1,149,796
Average consumer and small business banking deposits (3)                                                                               696,484                                                                  683,245                                                                  674,889                                                                  665,896                                                                             648,659
Net interest margin                                                                                                                       2.92 %                                                                   2.96                                                                     2.97                                                                     2.95                                                                                3.04
At Quarter End
Investment securities                                                                                                              $   347,555                                                                  345,074                                                                  340,769                                                                  324,736                                                                             312,925
Loans                                                                                                                                  916,559                                                                  903,233                                                                  888,459                                                                  861,231                                                                             862,551
Allowance for loan losses                                                                                                               11,545                                                                   11,659                                                                   11,754                                                                   12,176                                                                              12,319
Goodwill                                                                                                                                25,529                                                                   25,684                                                                   25,705                                                                   25,705                                                                              25,705
Assets                                                                                                                               1,787,632                                                                1,751,265                                                                1,720,617                                                                1,737,737                                                                           1,687,155
Deposits                                                                                                                             1,223,312                                                                1,202,179                                                                1,185,828                                                                1,196,663                                                                           1,168,310
Common stockholders’ equity                                                                                                            172,170                                                                  172,089                                                                  169,596                                                                  168,834                                                                             166,433
Wells Fargo stockholders’ equity                                                                            193,132                                                                  193,051                                                                  189,558                                                                  188,796                                                                             184,394
Total equity                                                                                                                           194,025                                                                  194,043                                                                  190,676                                                                  189,964                                                                             185,262
Common shares outstanding                                                                                                              5,092.1                                                                  5,108.5                                                                  5,145.2                                                                  5,162.9                                                                             5,170.3
Book value per common share (4)                                                                                                    $     33.81                                                                    33.69                                                                    32.96                                                                    32.70                                                                               32.19
Common stock price:
   High                                                                                                                                  56.34                                                                    58.77                                                                    58.26                                                                    56.29                                                                               55.95
   Low                                                                                                                                   49.51                                                                    47.75                                                                    53.56                                                                    50.42                                                                               46.44
   Period end                                                                                                                            54.36                                                                    51.35                                                                    56.24                                                                    54.40                                                                               54.82
Team members (active, full-time equivalent)                                   264,700         265,200         265,800         266,000                    264,500
--------------------------------------------------------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------------------
(1) The efficiency ratio is noninterest expense divided by total
revenue (net interest income and noninterest income).
(2) Pre-tax pre-provision profit (PTPP) is total revenue less
noninterest expense. Management believes that PTPP is a useful
financial measure because it enables investors and others to
assess the Company’s ability to generate capital to cover credit
losses through a credit cycle.
(3) Consumer and small business banking deposits are total deposits
excluding mortgage escrow and wholesale deposits.
(4) Book value per common share is common stockholders’ equity
divided by common shares outstanding.
                                                                                                                                                                                                                                                                                                                                                                                                                                          
 
Wells Fargo & Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
                                                                                                                                   Quarter ended December 31,                    %                                                                                                      Year ended December 31,                    %
                                                                                                ------------------------------------------------------------------------------------------------------------------------                                                                                                                         ------------------------------------------------------------------------------------------------------------------------
(in millions, except per share amounts)                        2015          2014               Change            2015          2014               Change  
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- --------------------
Interest income                                                                                                                                                                                                                                                                                                  
Trading assets                                                                                                     $     558                                                                    477                                                                            17 %                                                                                 $   1,971                                                                  1,685                                                                            17 %
Investment securities                                                                                                  2,323                                                                  2,150                                                                             8                                                                                       8,937                                                                  8,438                                                                             6
Mortgages held for sale                                                                                                  176                                                                    187                                                                            (6 )                                                                                       785                                                                    767                                                                             2
Loans held for sale                                                                                                        5                                                                     25                                                                           (80 )                                                                                        19                                                                     78                                                                           (76 )
Loans                                                                                                                  9,323                                                                  9,091                                                                             3                                                                                      36,575                                                                 35,652                                                                             3
Other interest income                                           258           253                                                          2                                                   990           932                                                          6
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total interest income                                     12,643        12,183                                                          4                                                49,277        47,552                                                          4
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Interest expense
Deposits                                                                                                                 241                                                                    269                                                                           (10 )                                                                                       963                                                                  1,096                                                                           (12 )
Short-term borrowings                                                                                                     13                                                                     18                                                                           (28 )                                                                                        64                                                                     59                                                                             8
Long-term debt                                                                                                           713                                                                    620                                                                            15                                                                                       2,592                                                                  2,488                                                                             4
Other interest expense                                           88            96                                                         (8 )                                                 357           382                                                         (7 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total interest expense                                     1,055         1,003                                                          5                                                 3,976         4,025                                                         (1 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Net interest income                                                                                                   11,588                                                                 11,180                                                                             4                                                                                      45,301                                                                 43,527                                                                             4
Provision for credit losses                                     831           485                                                         71                                                 2,442         1,395                                                         75
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Net interest income after provision for credit losses        10,757        10,695                                                          1                                                42,859        42,132                                                          2
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Noninterest income
Service charges on deposit accounts                                                                                    1,329                                                                  1,241                                                                             7                                                                                       5,168                                                                  5,050                                                                             2
Trust and investment fees                                                                                              3,511                                                                  3,705                                                                            (5 )                                                                                    14,468                                                                 14,280                                                                             1
Card fees                                                                                                                966                                                                    925                                                                             4                                                                                       3,720                                                                  3,431                                                                             8
Other fees                                                                                                             1,040                                                                  1,124                                                                            (7 )                                                                                     4,324                                                                  4,349                                                                            (1 )
Mortgage banking                                                                                                       1,660                                                                  1,515                                                                            10                                                                                       6,501                                                                  6,381                                                                             2
Insurance                                                                                                                427                                                                    382                                                                            12                                                                                       1,694                                                                  1,655                                                                             2
Net gains from trading activities                                                                                         99                                                                    179                                                                           (45 )                                                                                       614                                                                  1,161                                                                           (47 )
Net gains on debt securities                                                                                             346                                                                    186                                                                            86                                                                                         952                                                                    593                                                                            61
Net gains from equity investments                                                                                        423                                                                    372                                                                            14                                                                                       2,230                                                                  2,380                                                                            (6 )
Lease income                                                                                                             145                                                                    127                                                                            14                                                                                         621                                                                    526                                                                            18
Other                                                            52           507                                                        (90 )                                                 464         1,014                                                        (54 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total noninterest income                                   9,998        10,263                                                         (3 )                                              40,756        40,820                                             --
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Noninterest expense
Salaries                                                                                                               4,061                                                                  3,938                                                                             3                                                                                      15,883                                                                 15,375                                                                             3
Commission and incentive compensation                                                                                  2,457                                                                  2,582                                                                            (5 )                                                                                    10,352                                                                  9,970                                                                             4
Employee benefits                                                                                                      1,042                                                                  1,124                                                                            (7 )                                                                                     4,446                                                                  4,597                                                                            (3 )
Equipment                                                                                                                640                                                                    581                                                                            10                                                                                       2,063                                                                  1,973                                                                             5
Net occupancy                                                                                                            725                                                                    730                                                                            (1 )                                                                                     2,886                                                                  2,925                                                                            (1 )
Core deposit and other intangibles                                                                                       311                                                                    338                                                                            (8 )                                                                                     1,246                                                                  1,370                                                                            (9 )
FDIC and other deposit assessments                                                                                       258                                                                    231                                                                            12                                                                                         973                                                                    928                                                                             5
Other                                                         2,905         3,123                                                         (7 )                                              11,925        11,899                                             --
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Total noninterest expense                                 12,399        12,647                                                         (2 )                                              49,774        49,037                                                          2
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Income before income tax expense                                                                                       8,356                                                                  8,311                                                                             1                                                                                      33,841                                                                 33,915                                                                --
Income tax expense                                            2,599         2,519                                                          3                                                10,431        10,307                                                          1
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Net income before noncontrolling interests                                                                             5,757                                                                  5,792                                                                            (1 )                                                                                    23,410                                                                 23,608                                                                            (1 )
Less: Net income from noncontrolling interests                   48            83                                                        (42 )                                                 382           551                                                        (31 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Wells Fargo net income                                                       $   5,709         5,709                                             --                                                                $  23,028        23,057                                             --
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Less: Preferred stock dividends and other                       372           327                                                         14                                                 1,424         1,236                                                         15
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Wells Fargo net income applicable to common stock                            $   5,337         5,382                                                         (1 )                                                              $  21,604        21,821                                                         (1 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------                                                                                                    -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Per share information
      Earnings per common share                                                                                    $    1.05                                                                   1.04                                                                             1                                                                                   $    4.21                                                                   4.17                                                                             1
      Diluted earnings per common share                                                                                 1.03                                                                   1.02                                                                             1                                                                                        4.15                                                                   4.10                                                                             1
      Dividends declared per common share                                                                              0.375                                                                   0.35                                                                             7                                                                                       1.475                                                                   1.35                                                                             9
Average common shares outstanding                                                                                    5,108.5                                                                5,192.5                                                                            (2 )                                                                                   5,136.5                                                                5,237.2                                                                            (2 )
Diluted average common shares outstanding                   5,177.9       5,279.2                   (2 )                          5,209.8       5,324.4                   (2 )
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                    
 
Wells Fargo & Company and Subsidiaries
FIVE QUARTER CONSOLIDATED STATEMENT OF INCOME
                                                                                                                                                                                                                                                                                              Quarter ended
                                                                                                ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(in millions, except per share amounts)                                        Dec 31,     Sep 30,     Jun 30,     Mar 31,                  Dec 31,
                                                                                                                        2015                                              2015                                              2015                                              2015                                                           2014
----------------------------------------------------- -------------------- -------------------- ---------------------------  -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Interest income                                                                                                                                                                                           
Trading assets                                                                                                     $     558                                               485                                               483                                               445                                                            477
Investment securities                                                                                                  2,323                                             2,289                                             2,181                                             2,144                                                          2,150
Mortgages held for sale                                                                                                  176                                               223                                               209                                               177                                                            187
Loans held for sale                                                                                                        5                                                 4                                                 5                                                 5                                                             25
Loans                                                                                                                  9,323                                             9,216                                             9,098                                             8,938                                                          9,091
Other interest income                                           258         228         250         254                      253
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
   Total interest income                                     12,643      12,445      12,226      11,963                   12,183
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Interest expense
Deposits                                                                                                                 241                                               232                                               232                                               258                                                            269
Short-term borrowings                                                                                                     13                                                12                                                21                                                18                                                             18
Long-term debt                                                                                                           713                                               655                                               620                                               604                                                            620
Other interest expense                                           88          89          83          97                       96
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
   Total interest expense                                     1,055         988         956         977                    1,003
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Net interest income                                                                                                   11,588                                            11,457                                            11,270                                            10,986                                                         11,180
Provision for credit losses                                     831         703         300         608                      485
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Net interest income after provision for credit losses        10,757      10,754      10,970      10,378                   10,695
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Noninterest income
Service charges on deposit accounts                                                                                    1,329                                             1,335                                             1,289                                             1,215                                                          1,241
Trust and investment fees                                                                                              3,511                                             3,570                                             3,710                                             3,677                                                          3,705
Card fees                                                                                                                966                                               953                                               930                                               871                                                            925
Other fees                                                                                                             1,040                                             1,099                                             1,107                                             1,078                                                          1,124
Mortgage banking                                                                                                       1,660                                             1,589                                             1,705                                             1,547                                                          1,515
Insurance                                                                                                                427                                               376                                               461                                               430                                                            382
Net gains (losses) from trading activities                                                                                99                                               (26 )                                             133                                               408                                                            179
Net gains on debt securities                                                                                             346                                               147                                               181                                               278                                                            186
Net gains from equity investments                                                                                        423                                               920                                               517                                               370                                                            372
Lease income                                                                                                             145                                               189                                               155                                               132                                                            127
Other                                                            52         266        (140 )                          286                      507
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
   Total noninterest income                                   9,998      10,418      10,048      10,292                   10,263
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Noninterest expense
Salaries                                                                                                               4,061                                             4,035                                             3,936                                             3,851                                                          3,938
Commission and incentive compensation                                                                                  2,457                                             2,604                                             2,606                                             2,685                                                          2,582
Employee benefits                                                                                                      1,042                                               821                                             1,106                                             1,477                                                          1,124
Equipment                                                                                                                640                                               459                                               470                                               494                                                            581
Net occupancy                                                                                                            725                                               728                                               710                                               723                                                            730
Core deposit and other intangibles                                                                                       311                                               311                                               312                                               312                                                            338
FDIC and other deposit assessments                                                                                       258                                               245                                               222                                               248                                                            231
Other                                                         2,905       3,196       3,107       2,717                    3,123
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
   Total noninterest expense                                 12,399      12,399      12,469      12,507                   12,647
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Income before income tax expense                                                                                       8,356                                             8,773                                             8,549                                             8,163                                                          8,311
Income tax expense                                            2,599       2,790       2,763       2,279                    2,519
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Net income before noncontrolling interests                                                                             5,757                                             5,983                                             5,786                                             5,884                                                          5,792
Less: Net income from noncontrolling interests                   48         187          67          80                       83
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Wells Fargo net income                                                       $   5,709       5,796       5,719       5,804                    5,709
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Less: Preferred stock dividends and other                       372         353         356         343                      327
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Wells Fargo net income applicable to common stock                            $   5,337       5,443       5,363       5,461                    5,382
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
Per share information
      Earnings per common share                                                                                    $    1.05                                              1.06                                              1.04                                              1.06                                                           1.04
      Diluted earnings per common share                                                                                 1.03                                              1.05                                              1.03                                              1.04                                                           1.02
      Dividends declared per common share                                                                              0.375                                             0.375                                             0.375                                              0.35                                                           0.35
Average common shares outstanding                                                                                    5,108.5                                           5,125.8                                           5,151.9                                           5,160.4                                                        5,192.5
Diluted average common shares outstanding                   5,177.9     5,193.8     5,220.5     5,243.6                  5,279.2
----------------------------------------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                              
                                                                                                                                                                                                                                                                                                                                                                                                                                                              
Wells Fargo & Company and Subsidiaries
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
                                                                                                                                                                                                                                                                                                                                                                                                                                                              
                                                                                                                                               Quarter ended Dec 31,                     %                                                                                        Year ended Dec 31,                     %
                                                                                                                                      ------------------------------------------------------------------------------------------------------------                                                                                                                          -----------------------------------------------------------------------------------------------------
(in millions)                                                                     2015                 2014                Change             2015         2014                Change
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- -------------------- ------------------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ---------------
Wells Fargo net income                                                         $ 5,709                5,709                                             --%                                                                  $ 23,028       23,057                                             --%
---------------------------------------------------------------------- -------------------- -------------------- -------------------- --- ----- -------------------- -------------------- -------------------- -------------- --------------------                                                                                                                          --- ------ -------------------- -------------------- -------------------- ------ --------------------
Other comprehensive income (loss), before tax:                                                                                                                                                                                                                                                                                                                           
   Investment securities:
      Net unrealized gains (losses) arising during the period                                                                            (1,301 )                                                                       1,560                                                                             NM                                                                    (3,318 )                                                               5,426                                                                             NM
      Reclassification of net gains to net income                                                                                          (573 )                                                                        (327 )                                                                           75                                                                    (1,530 )                                                              (1,532 )                                                               --
   Derivatives and hedging activities:
      Net unrealized gains (losses) arising during the period                                                                              (684 )                                                                         730                                                                             NM                                                                     1,549                                                                   952                                                                             63
      Reclassification of net gains on cash flow hedges to net income                                                                      (294 )                                                                        (197 )                                                                           49                                                                    (1,089 )                                                                (545 )                                                                          100
   Defined benefit plans adjustments:
      Net actuarial losses arising during the period                                                                                       (501 )                                                                      (1,104 )                                                                          (55 )                                                                    (512 )                                                              (1,116 )                                                                         (54)
      Amortization of net actuarial loss, settlements and other to net                                                                       11                                                                            18                                                                            (39 )                                                                     114                                                                    74                                                                             54
      income
   Foreign currency translation adjustments:
      Net unrealized losses arising during the period                                                                                       (33 )                                                                         (28 )                                                                           18                                                                      (137 )                                                                 (60 )                                                                          128
      Reclassification of net (gains) losses to net income                          (5 )                        --                                                          NM                                                                        (5 )                             6                                                          NM
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- --------------------                                                                                                                          ------------------------------- -------------------- -------------------- ------ --------------------
Other comprehensive income (loss), before tax                                                                                            (3,380 )                                                                         652                                                                             NM                                                                    (4,928 )                                                               3,205                                                                             NM
Income tax (expense) benefit related to other comprehensive income               1,230                 (213 )                                                                           NM                                                                     1,774       (1,300 )                                                                           NM
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- --------------------                                                                                                                          ------------------------------- -------------------- -------------------- ------ --------------------
Other comprehensive income (loss), net of tax                                                                                            (2,150 )                                                                         439                                                                             NM                                                                    (3,154 )                                                               1,905                                                                             NM
Less: Other comprehensive income (loss) from noncontrolling interests              (58 )                                    39                                                          NM                                                                        67         (227 )                                                                           NM
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- --------------------                                                                                                                          ------------------------------- -------------------- -------------------- ------ --------------------
Wells Fargo other comprehensive income (loss), net of tax                       (2,092 )                                   400                                                          NM                                                                    (3,221 )                         2,132                                                          NM
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- --------------------                                                                                                                          ------------------------------- -------------------- -------------------- ------ --------------------
Wells Fargo comprehensive income                                                                                                          3,617                                                                         6,109                                                                            (41 )                                                                  19,807                                                                25,189                                                                           (21)
Comprehensive income (loss) from noncontrolling interests                          (10 )                                   122                                                          NM                                                                       449          324                                                          39
---------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------ -------------------- -------------------- -------------- --------------------                                                                                                                          ------------------------------- -------------------- -------------------- ------ --------------------
Total comprehensive income                                                     $ 3,607                6,231                   (42 )                          $ 20,256       25,513                  (21)
---------------------------------------------------------------------- -------------------- -------------------- -------------------- --- ----- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------- -------------------- -------------------- -------------------- --- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ---------------
NM - Not meaningful
                                                                                                                                                                                                                                                                                                                                                                                                                                                              
 
FIVE QUARTER CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN
TOTAL EQUITY
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                     Quarter ended  
                                                                                                                         --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                 Dec 31,                          Sep 30,                                 Jun 30,                          Mar 31,                                 Dec 31,
(in millions)                                                              2015          2015                 2015          2015                 2014  
--------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- --------------------
Balance, beginning of period                                                                                                   $ 194,043                                                                190,676                                                                       189,964                                                                185,262                                                                       182,990
Wells Fargo net income                                                                                                             5,709                                                                  5,796                                                                         5,719                                                                  5,804                                                                         5,709
Wells Fargo other comprehensive income (loss), net of tax                                                                         (2,092 )                                                                  321                                                                        (1,709 )                                                                  259                                                                           400
Noncontrolling interests                                                                                                            (100 )                                                                 (123 )                                                                         (51 )                                                                  301                                                                           353
Common stock issued                                                                                                                  310                                                                    505                                                                           502                                                                  1,327                                                                           508
Common stock repurchased (1)                                                                                                      (1,974 )                                                               (2,137 )                                                                      (1,994 )                                                               (2,592 )                                                                      (2,945 )
Preferred stock released by ESOP                                                                                                     210                                                                    225                                                                           349                                                                     41                                                                           166
Common stock warrants repurchased/exercised                                                                               --                                                                    (17 )                                                                         (24 )                                                                   (8 )                                                                          (9 )
Preferred stock issued                                                                                                    --                                                                    975                                                                --                                                                  1,997                                                                --
Common stock dividends                                                                                                            (1,917 )                                                               (1,926 )                                                                      (1,932 )                                                               (1,805 )                                                                      (1,816 )
Preferred stock dividends                                                                                                           (371 )                                                                 (356 )                                                                        (355 )                                                                 (344 )                                                                        (327 )
Tax benefit from stock incentive compensation                                                                                         22                                                                     22                                                                            55                                                                    354                                                                            75
Stock incentive compensation expense                                                                                                 204                                                                     98                                                                           166                                                                    376                                                                           176
Net change in deferred compensation and related plans                       (19 )                            (16 )                                   (14 )                         (1,008 )                                   (18 )
--------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- --------------------
Balance, end of period                                                $ 194,025       194,043              190,676       189,964              185,262  
--------------------------------------------------------- -------------------- -------------------- -------------------- ------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------------- --------------------
(1) For the quarter ended December 31, 2015, includes $500 million
related to a private forward repurchase transaction that settled
in first quarter 2016 for 9.2 million shares of common stock. For
the quarters ended June 30 and March 31, 2015, and December 31,
2014, includes $750 million each quarter related to private
forward repurchase transactions that settled in subsequent
quarters for 13.6 million, 14.0 million, and 14.3 million shares
of common stock, respectively.
 
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Wells Fargo & Company and Subsidiaries
AVERAGE BALANCES, YIELDS AND RATES PAID (TAXABLE-EQUIVALENT
BASIS) (1)(2)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                Quarter ended December 31,
                                                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                          2015                                                                                                                                                                         2014
                                                                                                                                    -----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                                           -----------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                          Interest                                                                                                                               Interest
                                                                                                                                           Average                                                                Yields/                                                                              income/                                                                  Average                                                                       Yields/                                                                        income/
(in millions)                                                                     balance         rates                     expense         balance                rates               expense
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ----------------------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ----------------
Earning assets
Federal funds sold, securities purchased under resale agreements and                                                                   $   274,589                                                                   0.28                    %                                                    $        195                                                                  268,109                                                                          0.28                    %                                                 $     188
other short-term investments
Trading assets                                                                                                                              68,833                                                                   3.33                                                                                  573                                                                   60,383                                                                          3.21                                                                            485
Investment securities (3):
   Available-for-sale securities:
      Securities of U.S. Treasury and federal agencies                                                                                      34,617                                                                   1.58                                                                                  137                                                                   19,506                                                                          1.55                                                                             76
      Securities of U.S. states and political subdivisions                                                                                  49,300                                                                   4.37                                                                                  539                                                                   43,891                                                                          4.30                                                                            472
      Mortgage-backed securities:
         Federal agencies                                                                                                                  102,281                                                                   2.79                                                                                  712                                                                  109,270                                                                          2.78                                                                            760
         Residential and commercial                                                21,502                                                5.51                                                                                  297                                                24,711                                                       5.89                                                                            364
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
            Total mortgage-backed securities                                                                                               123,783                                                                   3.26                                                                                1,009                                                                  133,981                                                                          3.36                                                                          1,124
      Other debt and equity securities                                             52,701                                                3.35                                                                                  444                                                44,980                                                       3.87                                                                            438
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
               Total available-for-sale securities                                260,401                                                3.27                                                                                2,129                                               242,358                                                       3.48                                                                          2,110
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
   Held-to-maturity securities:
      Securities of U.S. Treasury and federal agencies                                                                                      44,656                                                                   2.18                                                                                  246                                                                   32,930                                                                          2.25                                                                            187
      Securities of U.S. states and political subdivisions                                                                                   2,158                                                                   6.07                                                                                   33                                                                      902                                                                          4.92                                                                             11
      Federal agency mortgage-backed securities                                                                                             28,185                                                                   2.42                                                                                  170                                                                    5,586                                                                          2.07                                                                             29
      Other debt securities                                                         4,876                                                1.77                                                                                   22                                                 6,118                                                       1.81                                                                             27
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
               Total held-to-maturity securities                                   79,875                                                2.35                                                                                  471                                                45,536                                                       2.22                                                                            254
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
                  Total investment securities                                                                                              340,276                                                                   3.05                                                                                2,600                                                                  287,894                                                                          3.28                                                                          2,364
Mortgages held for sale (4)                                                                                                                 19,189                                                                   3.66                                                                                  176                                                                   19,191                                                                          3.90                                                                            187
Loans held for sale (4)                                                                                                                        363                                                                   4.96                                                                                    5                                                                    6,968                                                                          1.43                                                                             25
Loans:
   Commercial:
      Commercial and industrial - U.S.                                                                                                     250,445                                                                   3.25                                                                                2,048                                                                  218,297                                                                          3.32                                                                          1,825
      Commercial and industrial - Non U.S.                                                                                                  47,972                                                                   1.97                                                                                  239                                                                   43,049                                                                          2.03                                                                            221
      Real estate mortgage                                                                                                                 121,844                                                                   3.30                                                                                1,012                                                                  112,277                                                                          3.69                                                                          1,044
      Real estate construction                                                                                                              21,993                                                                   3.27                                                                                  182                                                                   18,336                                                                          4.33                                                                            200
      Lease financing                                                              12,241                                                4.48                                                                                  136                                                12,268                                                       5.35                                                                            164
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
         Total commercial                                                         454,495                                                3.16                                                                                3,617                                               404,227                                                       3.39                                                                          3,454
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                                272,871                                                                   4.04                                                                                2,759                                                                  264,799                                                                          4.16                                                                          2,754
      Real estate 1-4 family junior lien mortgage                                                                                           53,788                                                                   4.28                                                                                  579                                                                   60,177                                                                          4.28                                                                            648
      Credit card                                                                                                                           32,795                                                                  11.61                                                                                  960                                                                   29,477                                                                         11.71                                                                            870
      Automobile                                                                                                                            59,505                                                                   5.74                                                                                  862                                                                   55,457                                                                          6.08                                                                            849
      Other revolving credit and installment                                       38,826                                                5.83                                                                                  571                                                35,292                                                       6.01                                                                            534
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
         Total consumer                                                           457,785                                                4.99                                                                                5,731                                               445,202                                                       5.06                                                                          5,655
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
            Total loans (4)                                                                                                                912,280                                                                   4.08                                                                                9,348                                                                  849,429                                                                          4.27                                                                          9,109
Other                                                                               5,166                                                4.82                                                                                   61                                                 4,829                                                       5.30                                                                             64
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
                  Total earning assets                                        $ 1,620,696                                                3.18                    %                                                    $     12,958                                             1,496,803                                                       3.31                    %                                                 $  12,422
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ---- --------- --------------------                                                                                                                  ---------- ---------- --------------------                                           --------- --------------------                                                                                                                         ------- -------
Funding sources
Deposits:
   Interest-bearing checking                                                                                                           $    39,082                                                                   0.05                    %                                                    $          5                                                                   40,498                                                                          0.06                    %                                                 $       6
   Market rate and other savings                                                                                                           640,503                                                                   0.06                                                                                   93                                                                  593,940                                                                          0.07                                                                             99
   Savings certificates                                                                                                                     29,654                                                                   0.54                                                                                   41                                                                   35,870                                                                          0.80                                                                             72
   Other time deposits                                                                                                                      49,806                                                                   0.52                                                                                   64                                                                   56,119                                                                          0.39                                                                             55
   Deposits in foreign offices                                                    107,094                                                0.14                                                                                   38                                                99,289                                                       0.15                                                                             37
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
         Total interest-bearing deposits                                                                                                   866,139                                                                   0.11                                                                                  241                                                                  825,716                                                                          0.13                                                                            269
Short-term borrowings                                                                                                                      102,915                                                                   0.05                                                                                   12                                                                   64,676                                                                          0.12                                                                             19
Long-term debt                                                                                                                             190,861                                                                   1.49                                                                                  713                                                                  183,286                                                                          1.35                                                                            620
Other liabilities                                                                  16,453                                                2.14                                                                                   88                                                15,580                                                       2.44                                                                             96
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
         Total interest-bearing liabilities                                                                                              1,176,368                                                                   0.36                                                                                1,054                                                                1,089,258                                                                          0.37                                                                          1,004
Portion of noninterest-bearing funding sources                                    444,328                                                                                                                                                                     407,545                                             --                                                                 --
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                  ------------------------------------------                                           --------- --------------------                                                                                                                         ----------------
                  Total funding sources                                       $ 1,620,696                                                0.26                                                             1,054                                             1,496,803                                                       0.27                                                       1,004
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ---- --------- --------------------                                           ------- --------------------                                           ------------------------------------------                                           --------- --------------------                                           -------------- --------------------                                           ----------------
Net interest margin and net interest income on a                                                                                                                                                                     2.92                    %              $     11,904                                                                                                                                3.04                    %           $  11,418
taxable-equivalent basis (5)
                                                                                                                                                                                                                  ------- -------------------- -------------------- -------------------- ---------- ---------- --------------------                                                                                                                    -------------- -------------------- -------------------- -------------------- ------- -------
Noninterest-earning assets
Cash and due from banks                                                                                                                $    17,804                                                                                                                                                                                                                               16,932
Goodwill                                                                                                                                    25,580                                                                                                                                                                                                                               25,705
Other                                                                             123,207                                                                                                                                                                                                           124,320  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                                                                                                       --------- --------------------
                  Total noninterest-earning assets                            $   166,591                                                                                                                                                                                                           166,957  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ---- --------- --------------------                                                                                                                                                                                                       --------- --------------------
Noninterest-bearing funding sources
Deposits                                                                                                                               $   350,670                                                                                                                                                                                                                              324,080
Other liabilities                                                                                                                           65,223                                                                                                                                                                                                                               65,672
Total equity                                                                                                                               195,026                                                                                                                                                                                                                              184,750
Noninterest-bearing funding sources used to fund earning assets                  (444,328 )                                                                                                                                                                                                                           (407,545 )
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -----------------------------------                                                                                                                                                                                                       --------- --------------------
                  Net noninterest-bearing funding sources                     $   166,591                                                                                                                                                                                                           166,957  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ---- --------- --------------------                                                                                                                                                                                                       --------- --------------------
                    Total assets                                              $ 1,787,287                                                                                                                                                                                                         1,663,760  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- ---- --------- --------------------                                                                                                                                                                                                       --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                        
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(1) Our average prime rate was 3.29% and 3.25% for the quarters
ended December 31, 2015 and 2014, respectively. The average
three-month London Interbank Offered Rate (LIBOR) was 0.41% and
0.24% for the same quarters, respectively.
(2) Yields/rates and amounts include the effects of hedge and risk
management activities associated with the respective asset and
liability categories.
(3) Yields and rates are based on interest income/expense amounts
for the period, annualized based on the accrual basis for the
respective accounts. The average balance amounts represent amortized
cost for the periods presented.
(4) Nonaccrual loans and related income are included in their
respective loan categories.
(5) Includes taxable-equivalent adjustments of $316 million and $238
million for the quarters ended December 31, 2015 and 2014,
respectively, primarily related to tax-exempt income on certain
loans and securities. The federal statutory tax rate was 35% for the
periods presented.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
 
Wells Fargo & Company and Subsidiaries
AVERAGE BALANCES, YIELDS AND RATES PAID (TAXABLE-EQUIVALENT
BASIS) (1)(2)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                Year ended December 31,
                                                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                  2015                                                                                                                                                                                                2014
                                                                                                                                    --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------           --------------------                                           ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                  Interest                                                                                                                                                      Interest
                                                                                                                                                                      Average                                                                             Yields/                                                                              income/                                                                             Average                                                                             Yields/                                                                              income/
(in millions)                                                                                                balance                      rates                     expense                    balance                      rates                     expense
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
Earning assets
Federal funds sold, securities purchased under resale agreements and                                                                                   $              266,832                                                                                0.28 %                                                                       $        738                                                                             241,282                                                                                0.28 %                                                                       $        673
other short-term investments
Trading assets                                                                                                                                                         66,679                                                                                3.01                                                                                2,010                                                                              55,140                                                                                3.10                                                                                1,712
Investment securities (3):
   Available-for-sale securities:
      Securities of U.S. Treasury and federal agencies                                                                                                                 32,093                                                                                1.58                                                                                  505                                                                              10,400                                                                                1.64                                                                                  171
      Securities of U.S. states and political subdivisions                                                                                                             47,404                                                                                4.23                                                                                2,007                                                                              43,138                                                                                4.29                                                                                1,852
      Mortgage-backed securities:
         Federal agencies                                                                                                                                             100,218                                                                                2.73                                                                                2,733                                                                             114,076                                                                                2.84                                                                                3,235
         Residential and commercial                                                                           22,490                                                             5.73                                                                                1,289                                                           26,475                                                             6.03                                                                                1,597
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
            Total mortgage-backed securities                                                                                                                          122,708                                                                                3.28                                                                                4,022                                                                             140,551                                                                                3.44                                                                                4,832
      Other debt and equity securities                                                                        49,752                                                             3.42                                                                                1,701                                                           47,488                                                             3.66                                                                                1,741
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
               Total available-for-sale securities                                                           251,957                                                             3.27                                                                                8,235                                                          241,577                                                             3.56                                                                                8,596
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
   Held-to-maturity securities:
      Securities of U.S. Treasury and federal agencies                                                                                                                 44,173                                                                                2.19                                                                                  968                                                                              17,239                                                                                2.23                                                                                  385
      Securities of U.S. states and political subdivisions                                                                                                              2,087                                                                                5.40                                                                                  113                                                                                 246                                                                                4.93                                                                                   12
      Federal agency mortgage-backed securities                                                                                                                        21,967                                                                                2.23                                                                                  489                                                                               5,921                                                                                2.55                                                                                  151
      Other debt securities                                                                                    5,821                                                             1.73                                                                                  101                                                            5,913                                                             1.85                                                                                  109
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
               Total held-to-maturity securities                                                              74,048                                                             2.26                                                                                1,671                                                           29,319                                                             2.24                                                                                  657
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
                  Total investment securities                                                                                                                         326,005                                                                                3.04                                                                                9,906                                                                             270,896                                                                                3.42                                                                                9,253
Mortgages held for sale (4)                                                                                                                                            21,603                                                                                3.63                                                                                  785                                                                              19,018                                                                                4.03                                                                                  767
Loans held for sale (4)                                                                                                                                                   573                                                                                3.25                                                                                   19                                                                               4,226                                                                                1.85                                                                                   78
Loans:
   Commercial:
      Commercial and industrial - U.S.                                                                                                                                237,844                                                                                3.29                                                                                7,836                                                                             204,819                                                                                3.35                                                                                6,869
      Commercial and industrial - Non U.S.                                                                                                                             46,028                                                                                1.90                                                                                  877                                                                              42,661                                                                                2.03                                                                                  867
      Real estate mortgage                                                                                                                                            116,893                                                                                3.41                                                                                3,984                                                                             112,710                                                                                3.64                                                                                4,100
      Real estate construction                                                                                                                                         20,979                                                                                3.57                                                                                  749                                                                              17,676                                                                                4.21                                                                                  744
      Lease financing                                                                                         12,301                                                             4.70                                                                                  577                                                           12,257                                                             5.63                                                                                  690
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
         Total commercial                                                                                    434,045                                                             3.23                                                                               14,023                                                          390,123                                                             3.40                                                                               13,270
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                                                           268,560                                                                                4.10                                                                               11,002                                                                             261,620                                                                                4.19                                                                               10,961
      Real estate 1-4 family junior lien mortgage                                                                                                                      56,242                                                                                4.25                                                                                2,391                                                                              62,510                                                                                4.30                                                                                2,686
      Credit card                                                                                                                                                      31,307                                                                               11.70                                                                                3,664                                                                              27,491                                                                               11.98                                                                                3,294
      Automobile                                                                                                                                                       57,766                                                                                5.84                                                                                3,374                                                                              53,854                                                                                6.27                                                                                3,377
      Other revolving credit and installment                                                                  37,512                                                             5.89                                                                                2,209                                                           38,834                                                             5.48                                                                                2,127
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
         Total consumer                                                                                      451,387                                                             5.02                                                                               22,640                                                          444,309                                                             5.05                                                                               22,445
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
            Total loans (4)                                                                                                                                           885,432                                                                                4.14                                                                               36,663                                                                             834,432                                                                                4.28                                                                               35,715
Other                                                                                                          4,947                                                             5.11                                                                                  252                                                            4,673                                                             5.54                                                                                  259
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
               Total earning assets                                                           $            1,572,071                                                             3.20 %                                                                       $     50,373                                                        1,429,667                                                             3.39 %                                                                       $     48,457
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                               ---------- ---------- --------------------                                           -------------------- --------------------                                                                                                                               ---------- ----------
Funding sources
Deposits:
   Interest-bearing checking                                                                                                                           $               38,640                                                                                0.05 %                                                                       $         20                                                                              39,729                                                                                0.07 %                                                                       $         26
   Market rate and other savings                                                                                                                                      625,549                                                                                0.06                                                                                  367                                                                             585,854                                                                                0.07                                                                                  403
   Savings certificates                                                                                                                                                31,887                                                                                0.63                                                                                  201                                                                              38,111                                                                                0.85                                                                                  323
   Other time deposits                                                                                                                                                 51,790                                                                                0.45                                                                                  232                                                                              51,434                                                                                0.40                                                                                  207
   Deposits in foreign offices                                                                               107,138                                                             0.13                                                                                  143                                                           95,889                                                             0.14                                                                                  137
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
            Total interest-bearing deposits                                                                                                                           855,004                                                                                0.11                                                                                  963                                                                             811,017                                                                                0.14                                                                                1,096
Short-term borrowings                                                                                                                                                  87,465                                                                                0.07                                                                                   64                                                                              60,111                                                                                0.10                                                                                   62
Long-term debt                                                                                                                                                        185,078                                                                                1.40                                                                                2,592                                                                             167,420                                                                                1.49                                                                                2,488
Other liabilities                                                                                             16,545                                                             2.15                                                                                  357                                                           14,401                                                             2.65                                                                                  382
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
            Total interest-bearing liabilities                                                                                                                      1,144,092                                                                                0.35                                                                                3,976                                                                           1,052,949                                                                                0.38                                                                                4,028
Portion of noninterest-bearing funding sources                                                               427,979                                                   --                                                                       --                                                          376,718                                                   --                                                                       --
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                           -------------------- --------------------                                                                                                                               ----------------------
                   Total funding sources                                                      $            1,572,071                                                             0.25                                                             3,976                                                        1,429,667                                                             0.28                                                             4,028
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                           -------------------- --------------------                                           ------------------------------------------                                           -------------------- --------------------                                           -------------------- --------------------                                           ----------------------
Net interest margin and net interest income on a                                                                                                                                                                                                             2.95 %                                 $     46,397                                                                                                                                                 3.11 %                                 $     44,429
taxable-equivalent basis (5)
                                                                                                                                                                                                                                             -------------------- -------------------- -------------------- -------------------- ---------- ---------- --------------------                                                                                                                               -------------------- -------------------- -------------------- -------------------- ---------- ----------
Noninterest-earning assets
Cash and due from banks                                                                                                                                $               17,327                                                                                                                                                                                                                                                       16,361
Goodwill                                                                                                                                                               25,673                                                                                                                                                                                                                                                       25,687
Other                                                                                                        127,848                                                                                                                                                                                                                                   121,634  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                                                                                                                    -------------------- --------------------
                   Total noninterest-earning assets                                           $              170,848                                                                                                                                                                                                                                   163,682  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                                                                                                                    -------------------- --------------------
Noninterest-bearing funding sources
Deposits                                                                                                                                               $              339,069                                                                                                                                                                                                                                                      303,127
Other liabilities                                                                                                                                                      68,174                                                                                                                                                                                                                                                       56,985
Total equity                                                                                                                                                          191,584                                                                                                                                                                                                                                                      180,288
Noninterest-bearing funding sources used to fund earning assets                                             (427,979 )                                                                                                                                                                                                                                                   (376,718 )
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                                                                                                                    -------------------- --------------------
                   Net noninterest-bearing funding sources                                    $              170,848                                                                                                                                                                                                                                   163,682  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                                                                                                                    -------------------- --------------------
                    Total assets                                                              $            1,742,919                                                                                                                                                                                                                                 1,593,349  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                                                                                                                    -------------------- --------------------
                                                                                                    
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------
(1) Our average prime rate was 3.26% and 3.25% for the year ended
December 31, 2015 and 2014, respectively. The average three-month
London Interbank Offered Rate (LIBOR) was 0.32% and 0.23% for the
same periods, respectively.
(2) Yields/rates and amounts include the effects of hedge and risk
management activities associated with the respective asset and
liability categories.
(3) The average balance amounts represent amortized cost for the
periods presented.
(4) Nonaccrual loans and related income are included in their
respective loan categories.
(5) Includes taxable-equivalent adjustments of $1.1 billion and
$902 million for the year ended December 31, 2015 and 2014,
respectively, primarily related to tax-exempt income on certain
loans and securities. The federal statutory tax rate was 35% for
the periods presented.
 
                                                                          
Wells Fargo & Company and Subsidiaries
FIVE QUARTER AVERAGE BALANCES, YIELDS AND RATES PAID
(TAXABLE-EQUIVALENT BASIS) (1)(2)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                         Quarter ended
                                                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                         Dec 31, 2015                                                                                                    Sep 30, 2015                                                                                                    Jun 30, 2015                                                                                                    Mar 31, 2015                                                                                                    Dec 31, 2014  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------ -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------ -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------ -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                      Average                                       Yields/                                        Average                                       Yields/                                        Average                                       Yields/                                        Average                                       Yields/                                        Average                                       Yields/
($ in billions)                                                                                              balance                      rates                     balance                      rates                     balance                      rates                     balance                      rates                     balance                      rates  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- --------------------
Earning assets
Federal funds sold, securities purchased under resale agreements and                                                                                   $                274.6                                                                                0.28 %                                                                       $      250.1                                                                                0.26 %                                                                       $      267.1                                                                                0.28 %                                                                       $      275.7                                                                                0.28 %                                                                       $      268.1                                                                                0.28 %
other short-term investments
Trading assets                                                                                                                                                           68.8                                                                                3.33                                                                                 67.2                                                                                2.93                                                                                 67.6                                                                                2.91                                                                                 63.0                                                                                2.88                                                                                 60.4                                                                                3.21
Investment securities (3):
   Available-for-sale securities:
      Securities of U.S. Treasury and federal agencies                                                                                                                   34.6                                                                                1.58                                                                                 35.7                                                                                1.59                                                                                 31.7                                                                                1.58                                                                                 26.2                                                                                1.55                                                                                 19.5                                                                                1.55
      Securities of U.S. states and political subdivisions                                                                                                               49.3                                                                                4.37                                                                                 48.2                                                                                4.22                                                                                 47.1                                                                                4.13                                                                                 44.9                                                                                4.20                                                                                 43.9                                                                                4.30
      Mortgage-backed securities:
         Federal agencies                                                                                                                                               102.3                                                                                2.79                                                                                 98.4                                                                                2.70                                                                                 98.0                                                                                2.65                                                                                102.2                                                                                2.76                                                                                109.3                                                                                2.78
         Residential and commercial                                                                             21.5                                                             5.51                                                                                 21.9                                                             5.84                                                                                 22.7                                                             5.84                                                                                 23.9                                                             5.71                                                                                 24.7                                                             5.89
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
            Total mortgage-backed securities                                                                                                                            123.8                                                                                3.26                                                                                120.3                                                                                3.27                                                                                120.7                                                                                3.25                                                                                126.1                                                                                3.32                                                                                134.0                                                                                3.36
      Other debt and equity securities                                                                          52.7                                                             3.35                                                                                 50.4                                                             3.40                                                                                 48.8                                                             3.51                                                                                 47.1                                                             3.43                                                                                 45.0                                                             3.87
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
               Total available-for-sale securities                                                             260.4                                                             3.27                                                                                254.6                                                             3.24                                                                                248.3                                                             3.25                                                                                244.3                                                             3.32                                                                                242.4                                                             3.48
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
   Held-to-maturity securities:
      Securities of U.S. Treasury and federal agencies                                                                                                                   44.7                                                                                2.18                                                                                 44.6                                                                                2.18                                                                                 44.5                                                                                2.19                                                                                 42.9                                                                                2.21                                                                                 32.9                                                                                2.25
      Securities of U.S. states and political subdivisions                                                                                                                2.1                                                                                6.07                                                                                  2.2                                                                                5.17                                                                                  2.1                                                                                5.17                                                                                  1.9                                                                                5.16                                                                                  0.9                                                                                4.92
      Federal agency mortgage-backed securities                                                                                                                          28.2                                                                                2.42                                                                                 27.1                                                                                2.38                                                                                 21.0                                                                                2.00                                                                                 11.3                                                                                1.87                                                                                  5.6                                                                                2.07
      Other debt securities                                                                                      4.9                                                             1.77                                                                                  5.4                                                             1.75                                                                                  6.3                                                             1.70                                                                                  6.8                                                             1.72                                                                                  6.1                                                             1.81
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
               Total held-to-maturity securities                                                                79.9                                                             2.35                                                                                 79.3                                                             2.30                                                                                 73.9                                                             2.18                                                                                 62.9                                                             2.19                                                                                 45.5                                                             2.22
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
                  Total investment securities                                                                                                                           340.3                                                                                3.05                                                                                333.9                                                                                3.02                                                                                322.2                                                                                3.01                                                                                307.2                                                                                3.08                                                                                287.9                                                                                3.28
Mortgages held for sale                                                                                                                                                  19.2                                                                                3.66                                                                                 24.2                                                                                3.69                                                                                 23.5                                                                                3.57                                                                                 19.6                                                                                3.61                                                                                 19.2                                                                                3.90
Loans held for sale                                                                                                                                                       0.4                                                                                4.96                                                                                  0.6                                                                                2.57                                                                                  0.7                                                                                3.51                                                                                  0.7                                                                                2.67                                                                                  7.0                                                                                1.43
Loans:
   Commercial:
      Commercial and industrial - U.S.                                                                                                                                  250.5                                                                                3.25                                                                                241.4                                                                                3.30                                                                                231.5                                                                                3.36                                                                                227.7                                                                                3.28                                                                                218.3                                                                                3.32
      Commercial and industrial - Non U.S.                                                                                                                               48.0                                                                                1.97                                                                                 45.9                                                                                1.83                                                                                 45.1                                                                                1.93                                                                                 45.1                                                                                1.88                                                                                 43.0                                                                                2.03
      Real estate mortgage                                                                                                                                              121.8                                                                                3.30                                                                                121.0                                                                                3.31                                                                                113.1                                                                                3.48                                                                                111.5                                                                                3.57                                                                                112.3                                                                                3.69
      Real estate construction                                                                                                                                           22.0                                                                                3.27                                                                                 21.6                                                                                3.39                                                                                 20.8                                                                                4.12                                                                                 19.5                                                                                3.52                                                                                 18.3                                                                                4.33
      Lease financing                                                                                           12.2                                                             4.48                                                                                 12.3                                                             4.18                                                                                 12.4                                                             5.16                                                                                 12.3                                                             4.95                                                                                 12.3                                                             5.35
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
         Total commercial                                                                                      454.5                                                             3.16                                                                                442.2                                                             3.18                                                                                422.9                                                             3.33                                                                                416.1                                                             3.26                                                                                404.2                                                             3.39
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                                                             272.9                                                                                4.04                                                                                269.4                                                                                4.10                                                                                266.0                                                                                4.12                                                                                265.8                                                                                4.13                                                                                264.8                                                                                4.16
      Real estate 1-4 family junior lien mortgage                                                                                                                        53.8                                                                                4.28                                                                                 55.3                                                                                4.22                                                                                 57.0                                                                                4.23                                                                                 58.9                                                                                4.27                                                                                 60.2                                                                                4.28
      Credit card                                                                                                                                                        32.8                                                                               11.61                                                                                 31.7                                                                               11.73                                                                                 30.4                                                                               11.69                                                                                 30.4                                                                               11.78                                                                                 29.5                                                                               11.71
      Automobile                                                                                                                                                         59.5                                                                                5.74                                                                                 58.5                                                                                5.80                                                                                 57.0                                                                                5.88                                                                                 56.0                                                                                5.95                                                                                 55.4                                                                                6.08
      Other revolving credit and installment                                                                    38.8                                                             5.83                                                                                 38.0                                                             5.84                                                                                 37.1                                                             5.88                                                                                 36.1                                                             6.01                                                                                 35.3                                                             6.01
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
         Total consumer                                                                                        457.8                                                             4.99                                                                                452.9                                                             5.01                                                                                447.5                                                             5.02                                                                                447.2                                                             5.05                                                                                445.2                                                             5.06
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
            Total loans                                                                                                                                                 912.3                                                                                4.08                                                                                895.1                                                                                4.11                                                                                870.4                                                                                4.20                                                                                863.3                                                                                4.19                                                                                849.4                                                                                4.27
Other                                                                                                            5.1                                                             4.82                                                                                  5.0                                                             5.11                                                                                  4.8                                                             5.14                                                                                  4.7                                                             5.41                                                                                  4.8                                                             5.30
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
               Total earning assets                                                           $              1,620.7                                                             3.18 %                                                                       $    1,576.1                                                             3.21 %                                                                       $    1,556.3                                                             3.22 %                                                                       $    1,534.2                                                             3.21 %                                                                       $    1,496.8                                                             3.31 %
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                               ---------- ---------- --------------------                                                                                                                               ---------- ---------- --------------------                                                                                                                               ---------- ---------- --------------------                                                                                                                               ---------- ---------- --------------------
Funding sources
Deposits:
   Interest-bearing checking                                                                                                                           $                 39.1                                                                                0.05 %                                                                       $       37.8                                                                                0.05 %                                                                       $       38.6                                                                                0.05 %                                                                       $       39.2                                                                                0.05 %                                                                       $       40.5                                                                                0.06 %
   Market rate and other savings                                                                                                                                        640.5                                                                                0.06                                                                                628.1                                                                                0.06                                                                                619.8                                                                                0.06                                                                                613.4                                                                                0.06                                                                                593.9                                                                                0.07
   Savings certificates                                                                                                                                                  29.6                                                                                0.54                                                                                 30.9                                                                                0.58                                                                                 32.5                                                                                0.63                                                                                 34.6                                                                                0.75                                                                                 35.9                                                                                0.80
   Other time deposits                                                                                                                                                   49.8                                                                                0.52                                                                                 48.7                                                                                0.46                                                                                 52.2                                                                                0.42                                                                                 56.5                                                                                0.39                                                                                 56.1                                                                                0.39
   Deposits in foreign offices                                                                                 107.1                                                             0.14                                                                                111.5                                                             0.13                                                                                104.3                                                             0.13                                                                                105.5                                                             0.14                                                                                 99.3                                                             0.15
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
         Total interest-bearing deposits                                                                                                                                866.1                                                                                0.11                                                                                857.0                                                                                0.11                                                                                847.4                                                                                0.11                                                                                849.2                                                                                0.12                                                                                825.7                                                                                0.13
Short-term borrowings                                                                                                                                                   102.9                                                                                0.05                                                                                 90.4                                                                                0.06                                                                                 84.5                                                                                0.09                                                                                 71.7                                                                                0.11                                                                                 64.7                                                                                0.12
Long-term debt                                                                                                                                                          190.9                                                                                1.49                                                                                180.6                                                                                1.45                                                                                185.1                                                                                1.34                                                                                183.8                                                                                1.32                                                                                183.3                                                                                1.35
Other liabilities                                                                                               16.5                                                             2.14                                                                                 16.4                                                             2.13                                                                                 16.4                                                             2.03                                                                                 16.9                                                             2.30                                                                                 15.6                                                             2.44
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
         Total interest-bearing liabilities                                                                                                                           1,176.4                                                                                0.36                                                                              1,144.4                                                                                0.34                                                                              1,133.4                                                                                0.34                                                                              1,121.6                                                                                0.35                                                                              1,089.3                                                                                0.37
Portion of noninterest-bearing funding sources                                                                 444.3                                                   --                                                                                431.7                                                   --                                                                                422.9                                                   --                                                                                412.6                                                   --                                                                                407.5                                                   --
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
               Total funding sources                                                          $              1,620.7                                                             0.26                                                      $    1,576.1                                                             0.25                                                      $    1,556.3                                                             0.25                                                      $    1,534.2                                                             0.26                                                      $    1,496.8                                                             0.27  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                           -------------------- --------------------                                           ---------- ---------- --------------------                                           -------------------- --------------------                                           ---------- ---------- --------------------                                           -------------------- --------------------                                           ---------- ---------- --------------------                                           -------------------- --------------------                                           ---------- ---------- --------------------                                           -------------------- --------------------
Net interest margin on a taxable-equivalent basis                                                                                                                                                                                                            2.92 %                                                                                                                                                                   2.96 %                                                                                                                                                                   2.97 %                                                                                                                                                                   2.95 %                                                                                                                                                                   3.04 %
                                                                                                                                                                                                                                             -------------------- --------------------                                                                                                                                -------------------- --------------------                                                                                                                                -------------------- --------------------                                                                                                                                -------------------- --------------------                                                                                                                                -------------------- --------------------
Noninterest-earning assets
Cash and due from banks                                                                                                                                $                 17.8                                                                                                                                                                     17.0                                                                                                                                                                     17.5                                                                                                                                                                     17.1                                                                                                                                                                     16.9
Goodwill                                                                                                                                                                 25.6                                                                                                                                                                     25.7                                                                                                                                                                     25.7                                                                                                                                                                     25.7                                                                                                                                                                     25.7
Other                                                                                                          123.2                                                                                                                                                 127.6                                                                                                                                                 129.8                                                                                                                                                 130.8                                                                                                                                                 124.4  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
               Total noninterest-earnings assets                                              $                166.6                                                                                                                                                 170.3                                                                                                                                                 173.0                                                                                                                                                 173.6                                                                                                                                                 167.0  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
Noninterest-bearing funding sources
Deposits                                                                                                                                               $                350.7                                                                                                                                                                    341.9                                                                                                                                                                    337.9                                                                                                                                                                    325.6                                                                                                                                                                    324.1
Other liabilities                                                                                                                                                        65.2                                                                                                                                                                     67.9                                                                                                                                                                     67.6                                                                                                                                                                     72.0                                                                                                                                                                     65.7
Total equity                                                                                                                                                            195.0                                                                                                                                                                    192.2                                                                                                                                                                    190.4                                                                                                                                                                    188.6                                                                                                                                                                    184.7
Noninterest-bearing funding sources used to fund earning assets                                               (444.3 )                                                                                                                                                                 (431.7 )                                                                                                                                                                 (422.9 )                                                                                                                                                                 (412.6 )                                                                                                                                                                 (407.5 )
-------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
              Net noninterest-bearing funding sources                                         $                166.6                                                                                                                                                 170.3                                                                                                                                                 173.0                                                                                                                                                 173.6                                                                                                                                                 167.0  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
                 Total assets                                                                 $              1,787.3                                                                                                                                               1,746.4                                                                                                                                               1,729.3                                                                                                                                               1,707.8                                                                                                                                               1,663.8  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------                                                                                                                               ------------------------------------------
                                                                                                                                         
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------ -------------------- -------------------- -------------------- --------------------
(1) Our average prime rate was 3.29% for the quarter ended
December 31, 2015, and 3.25% for the quarters ended September 30,
June 30 and March 31, 2015, and December 31, 2014. The average
three-month London Interbank Offered Rate (LIBOR) was 0.41%,
0.31%, 0.28%, 0.26% and 0.24% for the same quarters, respectively.
(2) Yields/rates include the effects of hedge and risk management
activities associated with the respective asset and liability
categories.
(3) Yields and rates are based on interest income/expense amounts
for the period, annualized based on the accrual basis for the
respective accounts. The average balance amounts represent
amortized cost for the periods presented.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                                                                                                                                                                                                                                                                               
Wells Fargo & Company and Subsidiaries
NONINTEREST INCOME
                                                                                                                                                                                                      Quarter ended Dec 31,                                                                                                         %                                                                                                                          Year ended Dec 31,                                                                                                          %
                                                                                                                          --------------------------------------------------------------------------------------------------                                                                                                                                                    --------------------------------------------------------------------------------------------------
(in millions)                                                                           2015         2014                                           Change                            2015         2014                                            Change
---------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------------------------------------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------------------------------
Service charges on deposit accounts                                                                                                          $  1,329                           1,241                                                                                    7 %                                                                                 $  5,168                           5,050                                                                                    2 %
Trust and investment fees:
   Brokerage advisory, commissions and other fees                                                                                               2,288                                                                 2,335                                                                                   (2 )                                                                                    9,435                                                                 9,183                                                                                    3
   Trust and investment management                                                                                                                838                                                                   849                                                                                   (1 )                                                                                    3,394                                                                 3,387                                                                       --
   Investment banking                                                 385          521                                                               (26 )                                                                 1,639        1,710                                                                (4 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Total trust and investment fees                               3,511        3,705                                                                (5 )                                                                14,468       14,280                                                                 1
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Card fees                                                                                                                                         966                                                                   925                                                                                    4                                                                                      3,720                                                                 3,431                                                                                    8
Other fees:
   Charges and fees on loans                                                                                                                      308                                                                   311                                                                                   (1 )                                                                                    1,228                                                                 1,316                                                                                   (7 )
   Merchant processing fees (1)                                                                                                                    18                                                                   187                                                                                  (90 )                                                                                      607                                                                   726                                                                                  (16 )
   Cash network fees                                                                                                                              129                                                                   125                                                                                    3                                                                                        522                                                                   507                                                                                    3
   Commercial real estate brokerage commissions                                                                                                   224                                                                   155                                                                                   45                                                                                        618                                                                   469                                                                                   32
   Letters of credit fees                                                                                                                          86                                                                   102                                                                                  (16 )                                                                                      353                                                                   390                                                                                   (9 )
   All other fees                                                     275          244                                                                13                                                                     996          941                                                                 6
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Total other fees                                              1,040        1,124                                                                (7 )                                                                 4,324        4,349                                                                (1 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Mortgage banking:
   Servicing income, net                                                                                                                          730                                                                   685                                                                                    7                                                                                      2,441                                                                 3,337                                                                                  (27 )
   Net gains on mortgage loan origination/sales activities            930          830                                                                12                                                                   4,060        3,044                                                                33
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Total mortgage banking                                        1,660        1,515                                                                10                                                                   6,501        6,381                                                                 2
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Insurance                                                                                                                                         427                                                                   382                                                                                   12                                                                                      1,694                                                                 1,655                                                                                    2
Net gains from trading activities                                                                                                                  99                                                                   179                                                                                  (45 )                                                                                      614                                                                 1,161                                                                                  (47 )
Net gains on debt securities                                                                                                                      346                                                                   186                                                                                   86                                                                                        952                                                                   593                                                                                   61
Net gains from equity investments                                                                                                                 423                                                                   372                                                                                   14                                                                                      2,230                                                                 2,380                                                                                   (6 )
Lease income                                                                                                                                      145                                                                   127                                                                                   14                                                                                        621                                                                   526                                                                                   18
Life insurance investment income                                                                                                                  139                                                                   145                                                                                   (4 )                                                                                      579                                                                   558                                                                                    4
All other (1)                                                         (87 )                           362                                             NM                                                 (115 )                           456                                              NM  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
         Total                                                                      $  9,998       10,263                          (3 )                                           $ 40,756       40,820              --  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------- ---------------------
NM - Not meaningful
(1) Reflects deconsolidation of the Company’s merchant services
joint venture in fourth quarter 2015. The Company’s proportionate
share of earnings is now reflected in all other income.
 
NONINTEREST EXPENSE
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                      Quarter ended Dec 31,                                                                                                         %                                                                                                                          Year ended Dec 31,                                                                                                          %
                                                                                                                          --------------------------------------------------------------------------------------------------                                                                                                                                                    --------------------------------------------------------------------------------------------------
(in millions)                                                                           2015         2014                                           Change                            2015         2014                                            Change
---------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------------------------------------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------------------------------
Salaries                                                                                                                                     $  4,061                                                                 3,938                                                                                    3                    %                                                              $ 15,883                                                                15,375                                                                                    3 %
Commission and incentive compensation                                                                                                           2,457                                                                 2,582                                                                                   (5 )                                                                                   10,352                                                                 9,970                                                                                    4
Employee benefits                                                                                                                               1,042                                                                 1,124                                                                                   (7 )                                                                                    4,446                                                                 4,597                                                                                   (3 )
Equipment                                                                                                                                         640                                                                   581                                                                                   10                                                                                      2,063                                                                 1,973                                                                                    5
Net occupancy                                                                                                                                     725                                                                   730                                                                                   (1 )                                                                                    2,886                                                                 2,925                                                                                   (1 )
Core deposit and other intangibles                                                                                                                311                                                                   338                                                                                   (8 )                                                                                    1,246                                                                 1,370                                                                                   (9 )
FDIC and other deposit assessments                                                                                                                258                                                                   231                                                                                   12                                                                                        973                                                                   928                                                                                    5
Outside professional services                                                                                                                     827                                                                   800                                                                                    3                                                                                      2,665                                                                 2,689                                                                                   (1 )
Operating losses                                                                                                                                  332                                                                   309                                                                                    7                                                                                      1,671                                                                 1,249                                                                                   34
Outside data processing                                                                                                                           205                                                                   270                                                                                  (24 )                                                                                      985                                                                 1,034                                                                                   (5 )
Contract services                                                                                                                                 266                                                                   245                                                                                    9                                                                                        978                                                                   975                                                                       --
Postage, stationery and supplies                                                                                                                  177                                                                   190                                                                                   (7 )                                                                                      702                                                                   733                                                                                   (4 )
Travel and entertainment                                                                                                                          196                                                                   216                                                                                   (9 )                                                                                      692                                                                   904                                                                                  (23 )
Advertising and promotion                                                                                                                         184                                                                   195                                                                                   (6 )                                                                                      606                                                                   653                                                                                   (7 )
Insurance                                                                                                                                          57                                                                    60                                                                                   (5 )                                                                                      448                                                                   422                                                                                    6
Telecommunications                                                                                                                                106                                                                   106                                                                       --                                                                                        439                                                                   453                                                                                   (3 )
Foreclosed assets                                                                                                                                  20                                                                   164                                                                                  (88 )                                                                                      381                                                                   583                                                                                  (35 )
Operating leases                                                                                                                                   73                                                                    58                                                                                   26                                                                                        278                                                                   220                                                                                   26
All other                                                             462          510                                                                (9 )                                                                 2,080        1,984                                                                 5
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------                                                                                                                                -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
   Total                                                                            $ 12,399       12,647                          (2 )                                           $ 49,774       49,037                           2  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- --------------------- ---------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
 
Wells Fargo & Company and Subsidiaries
FIVE QUARTER NONINTEREST INCOME
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                      Quarter ended
                                                                                                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                              Dec 31,                          Sep 30,                          Jun 30,                          Mar 31,                    Dec 31,
(in millions)                                                                           2015          2015          2015          2015                       2014
---------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Service charges on deposit accounts                                                                                                          $  1,329                                                                  1,335                                                                  1,289                                                                  1,215                                                                               1,241
Trust and investment fees:
   Brokerage advisory, commissions and other fees                                                                                               2,288                                                                  2,368                                                                  2,399                                                                  2,380                                                                               2,335
   Trust and investment management                                                                                                                838                                                                    843                                                                    861                                                                    852                                                                                 849
   Investment banking                                                 385           359           450           445                        521
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
      Total trust and investment fees                               3,511         3,570         3,710         3,677                      3,705
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Card fees                                                                                                                                         966                                                                    953                                                                    930                                                                    871                                                                                 925
Other fees:
   Charges and fees on loans                                                                                                                      308                                                                    307                                                                    304                                                                    309                                                                                 311
   Merchant processing fees (1)                                                                                                                    18                                                                    200                                                                    202                                                                    187                                                                                 187
   Cash network fees                                                                                                                              129                                                                    136                                                                    132                                                                    125                                                                                 125
   Commercial real estate brokerage commissions                                                                                                   224                                                                    124                                                                    141                                                                    129                                                                                 155
   Letters of credit fees                                                                                                                          86                                                                     89                                                                     90                                                                     88                                                                                 102
   All other fees                                                     275           243           238           240                        244
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
      Total other fees                                              1,040         1,099         1,107         1,078                      1,124
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Mortgage banking:
   Servicing income, net                                                                                                                          730                                                                    674                                                                    514                                                                    523                                                                                 685
   Net gains on mortgage loan origination/sales activities            930           915         1,191         1,024                        830
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
      Total mortgage banking                                        1,660         1,589         1,705         1,547                      1,515
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Insurance                                                                                                                                         427                                                                    376                                                                    461                                                                    430                                                                                 382
Net gains (losses) from trading activities                                                                                                         99                                                                    (26 )                                                                  133                                                                    408                                                                                 179
Net gains on debt securities                                                                                                                      346                                                                    147                                                                    181                                                                    278                                                                                 186
Net gains from equity investments                                                                                                                 423                                                                    920                                                                    517                                                                    370                                                                                 372
Lease income                                                                                                                                      145                                                                    189                                                                    155                                                                    132                                                                                 127
Life insurance investment income                                                                                                                  139                                                                    150                                                                    145                                                                    145                                                                                 145
All other (1)                                                         (87 )                            116          (285 )                            141                        362
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
         Total                                                                      $  9,998        10,418        10,048        10,292                     10,263
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
(1) Reflects deconsolidation of the Company’s merchant services
joint venture in fourth quarter 2015. The Company’s proportionate
share of earnings is now reflected in all other income.
                                                                                                                                                                                                                                                                                                                                                                                                                                           
FIVE QUARTER NONINTEREST EXPENSE
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                               Quarter ended
                                                                                                                          ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                              Dec 31,                                                                Sep 30,                                                                Jun 30,                                                                Mar 31,                                                                             Dec 31,
(in millions)                                                                           2015          2015          2015          2015                       2014
---------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Salaries                                                                                                                                     $  4,061                                                                  4,035                                                                  3,936                                                                  3,851                                                                               3,938
Commission and incentive compensation                                                                                                           2,457                                                                  2,604                                                                  2,606                                                                  2,685                                                                               2,582
Employee benefits                                                                                                                               1,042                                                                    821                                                                  1,106                                                                  1,477                                                                               1,124
Equipment                                                                                                                                         640                                                                    459                                                                    470                                                                    494                                                                                 581
Net occupancy                                                                                                                                     725                                                                    728                                                                    710                                                                    723                                                                                 730
Core deposit and other intangibles                                                                                                                311                                                                    311                                                                    312                                                                    312                                                                                 338
FDIC and other deposit assessments                                                                                                                258                                                                    245                                                                    222                                                                    248                                                                                 231
Outside professional services                                                                                                                     827                                                                    663                                                                    627                                                                    548                                                                                 800
Operating losses                                                                                                                                  332                                                                    523                                                                    521                                                                    295                                                                                 309
Outside data processing                                                                                                                           205                                                                    258                                                                    269                                                                    253                                                                                 270
Contract services                                                                                                                                 266                                                                    249                                                                    238                                                                    225                                                                                 245
Postage, stationery and supplies                                                                                                                  177                                                                    174                                                                    180                                                                    171                                                                                 190
Travel and entertainment                                                                                                                          196                                                                    166                                                                    172                                                                    158                                                                                 216
Advertising and promotion                                                                                                                         184                                                                    135                                                                    169                                                                    118                                                                                 195
Insurance                                                                                                                                          57                                                                     95                                                                    156                                                                    140                                                                                  60
Telecommunications                                                                                                                                106                                                                    109                                                                    113                                                                    111                                                                                 106
Foreclosed assets                                                                                                                                  20                                                                    109                                                                    117                                                                    135                                                                                 164
Operating leases                                                                                                                                   73                                                                     79                                                                     64                                                                     62                                                                                  58
All other                                                             462           636           481           501                        510
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
   Total                                                                            $ 12,399        12,399        12,469        12,507                     12,647
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                                                                  
Wells Fargo & Company and Subsidiaries
CONSOLIDATED BALANCE SHEET
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                        Dec 31,                                                                  Dec 31,                                                                                                  %
(in millions, except shares)                                                                                      2015            2014                                    Change
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- ------------------------------------
Assets
Cash and due from banks                                                                                                                                             $    19,111                                                                   19,571                                                                            (2 )%
Federal funds sold, securities purchased under resale agreements and                                                                                                    270,130                                                                  258,429                                                                             5
other short-term investments
Trading assets                                                                                                                                                           77,202                                                                   78,255                                                                            (1 )
Investment securities:
   Available-for-sale, at fair value                                                                                                                                    267,358                                                                  257,442                                                                             4
   Held-to-maturity, at cost                                                                                                                                             80,197                                                                   55,483                                                                            45
Mortgages held for sale                                                                                                                                                  19,603                                                                   19,536                                                                --
Loans held for sale                                                                                                                                                         279                                                                      722                                                                           (61 )
Loans                                                                                                                                                                   916,559                                                                  862,551                                                                             6
Allowance for loan losses                                                                   (11,545 )                          (12,319 )                                                                          (6 )
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
   Net loans                                                                                905,014         850,232                                                          6
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Mortgage servicing rights:
   Measured at fair value                                                                                                                                                12,415                                                                   12,738                                                                            (3 )
   Amortized                                                                                                                                                              1,308                                                                    1,242                                                                             5
Premises and equipment, net                                                                                                                                               8,704                                                                    8,743                                                                --
Goodwill                                                                                                                                                                 25,529                                                                   25,705                                                                            (1 )
Other assets                                                                                100,782          99,057                                                          2
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
            Total assets                                                                                   $ 1,787,632       1,687,155                                                          6
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Liabilities
Noninterest-bearing deposits                                                                                                                                        $   351,579                                                                  321,963                                                                             9
Interest-bearing deposits                                                                   871,733         846,347                                                          3
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
   Total deposits                                                                                                                                                     1,223,312                                                                1,168,310                                                                             5
Short-term borrowings                                                                                                                                                    97,528                                                                   63,518                                                                            54
Accrued expenses and other liabilities                                                                                                                                   73,231                                                                   86,122                                                                           (15 )
Long-term debt                                                                              199,536         183,943                                       8
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- --------------------
         Total liabilities                                                                1,593,607       1,501,893                                       6
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- --------------------
Equity
Wells Fargo stockholders’ equity:
   Preferred stock                                                                                                                                                       22,214                                                                   19,213                                                                            16
   Common stock - $1-2/3 par value, authorized 9,000,000,000 shares;                                                                                         9,136                                                                    9,136                                                                --
   issued 5,481,811,474 shares
   Additional paid-in capital                                                                                                                                            60,714                                                                   60,537                                                                --
   Retained earnings                                                                                                                                                    121,000                                                                  107,040                                                                            13
   Cumulative other comprehensive income                                                                                                                                    297                                                                    3,518                                                                           (92 )
   Treasury stock - 389,682,664 shares and 311,462,276 shares                                                                                              (18,867 )                                                                (13,690 )                                                                          38
   Unearned ESOP shares                                                                      (1,362 )                           (1,360 )                                                              --
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
      Total Wells Fargo stockholders’ equity                                                                                                 193,132                                                                  184,394                                                                             5
Noncontrolling interests                                                                        893             868                                                          3
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
         Total equity                                                                       194,025         185,262                                                          5
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
                                                                                                           $ 1,787,632       1,687,155                    6  
            Total liabilities and equity
--------------------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- -------------- --------------------
                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                              
Wells Fargo & Company and Subsidiaries
FIVE QUARTER CONSOLIDATED BALANCE SHEET
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                              Dec 31,                                                                  Sep 30,                                                                  Jun 30,                                                                  Mar 31,                                                                  Dec 31,
(in millions)                                                                                           2015            2015            2015            2015            2014  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- --------------------------------------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Assets
Cash and due from banks                                                                                                                                   $    19,111                                                                   17,395                                                                   19,687                                                                   19,793                                                                   19,571
Federal funds sold, securities purchased under resale agreements and                                                                                          270,130                                                                  254,811                                                                  232,247                                                                  291,317                                                                  258,429
other short-term investments
Trading assets                                                                                                                                                 77,202                                                                   73,894                                                                   80,236                                                                   79,278                                                                   78,255
Investment securities:
   Available-for-sale, at fair value                                                                                                                          267,358                                                                  266,406                                                                  260,667                                                                  257,603                                                                  257,442
   Held-to-maturity, at cost                                                                                                                                   80,197                                                                   78,668                                                                   80,102                                                                   67,133                                                                   55,483
Mortgages held for sale                                                                                                                                        19,603                                                                   21,840                                                                   25,447                                                                   23,606                                                                   19,536
Loans held for sale                                                                                                                                               279                                                                      430                                                                      621                                                                      681                                                                      722
Loans                                                                                                                                                         916,559                                                                  903,233                                                                  888,459                                                                  861,231                                                                  862,551
Allowance for loan losses                                                         (11,545 )                          (11,659 )                          (11,754 )                          (12,176 )                          (12,319 )
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
   Net loans                                                                      905,014         891,574         876,705         849,055         850,232  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Mortgage servicing rights:
   Measured at fair value                                                                                                                                      12,415                                                                   11,778                                                                   12,661                                                                   11,739                                                                   12,738
   Amortized                                                                                                                                                    1,308                                                                    1,277                                                                    1,262                                                                    1,252                                                                    1,242
Premises and equipment, net                                                                                                                                     8,704                                                                    8,800                                                                    8,692                                                                    8,696                                                                    8,743
Goodwill                                                                                                                                                       25,529                                                                   25,684                                                                   25,705                                                                   25,705                                                                   25,705
Other assets                                                                      100,782          98,708          96,585         101,879          99,057  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
            Total assets                                                                         $ 1,787,632       1,751,265       1,720,617       1,737,737       1,687,155  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Liabilities
Noninterest-bearing deposits                                                                                                                              $   351,579                                                                  339,761                                                                  343,582                                                                  335,858                                                                  321,963
Interest-bearing deposits                                                         871,733         862,418         842,246         860,805         846,347  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
   Total deposits                                                                                                                                           1,223,312                                                                1,202,179                                                                1,185,828                                                                1,196,663                                                                1,168,310
Short-term borrowings                                                                                                                                          97,528                                                                   88,069                                                                   82,963                                                                   77,697                                                                   63,518
Accrued expenses and other liabilities                                                                                                                         73,231                                                                   81,700                                                                   81,399                                                                   90,121                                                                   86,122
Long-term debt                                                                    199,536         185,274         179,751         183,292         183,943  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
      Total liabilities                                                         1,593,607       1,557,222       1,529,941       1,547,773       1,501,893  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
Equity
Wells Fargo stockholders’ equity:
   Preferred stock                                                                                                                                             22,214                                                                   22,424                                                                   21,649                                                                   21,998                                                                   19,213
   Common stock                                                                                                                                                 9,136                                                                    9,136                                                                    9,136                                                                    9,136                                                                    9,136
   Additional paid-in capital                                                                                                                                  60,714                                                                   60,998                                                                   60,154                                                                   59,980                                                                   60,537
   Retained earnings                                                                                                                                          121,000                                                                  117,593                                                                  114,093                                                                  110,676                                                                  107,040
   Cumulative other comprehensive income                                                                                                                          297                                                                    2,389                                                                    2,068                                                                    3,777                                                                    3,518
   Treasury stock                                                                                                                                             (18,867 )                                                                (17,899 )                                                                (15,707 )                                                                (14,556 )                                                                (13,690 )
   Unearned ESOP shares                                                            (1,362 )                           (1,590 )                           (1,835 )                           (2,215 )                           (1,360 )
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
      Total Wells Fargo stockholders’ equity                                                                                       193,132                                                                  193,051                                                                  189,558                                                                  188,796                                                                  184,394
Noncontrolling interests                                                              893             992           1,118           1,168             868  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
         Total equity                                                             194,025         194,043         190,676         189,964         185,262  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
            Total liabilities and equity                                                         $ 1,787,632       1,751,265       1,720,617       1,737,737       1,687,155  
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- -------------------- -------------------- -------------------- --------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                           
                                                                                                                                          
Wells Fargo & Company and Subsidiaries
FIVE QUARTER INVESTMENT SECURITIES
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                            Dec 31,                                                                Sep 30,                                                                Jun 30,                                                                Mar 31,                                                                             Dec 31,
(in millions)                                                                         2015          2015          2015          2015                       2014
------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Available-for-sale securities:
   Securities of U.S. Treasury and federal agencies                                                                                       $  36,250                                                                 35,423                                                                 35,944                                                                 30,031                                                                              25,804
   Securities of U.S. states and political subdivisions                                                                                      49,990                                                                 49,423                                                                 48,298                                                                 47,380                                                                              44,944
   Mortgage-backed securities:
      Federal agencies                                                                                                                      104,546                                                                105,023                                                                100,078                                                                103,217                                                                             110,089
      Residential and commercial                                 22,646        22,836        23,770        24,712                     26,263
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
         Total mortgage-backed securities                                                                                                   127,192                                                                127,859                                                                123,848                                                                127,929                                                                             136,352
   Other debt securities                                         52,289        51,760        50,090        48,759                     46,666
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
            Total available-for-sale debt securities                                                                                        265,721                                                                264,465                                                                258,180                                                                254,099                                                                             253,766
   Marketable equity securities                                   1,637         1,941         2,487         3,504                      3,676
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
               Total available-for-sale securities              267,358       266,406       260,667       257,603                    257,442
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
Held-to-maturity securities:
   Securities of U.S. Treasury and federal agencies                                                                                          44,660                                                                 44,653                                                                 44,645                                                                 44,244                                                                              40,886
   Securities of U.S. states and political subdivisions                                                                                       2,185                                                                  2,187                                                                  2,174                                                                  2,092                                                                               1,962
   Federal agency mortgage-backed securities                                                                                                 28,604                                                                 26,828                                                                 27,577                                                                 14,311                                                                               5,476
   Other debt securities                                          4,748         5,000         5,706         6,486                      7,159
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
               Total held-to-maturity debt securities            80,197        78,668        80,102        67,133                     55,483
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
                  Total investment securities                                    $ 347,555       345,074       340,769       324,736                    312,925
------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                 
FIVE QUARTER LOANS
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   Dec 31,                                                                Sep 30,                                                                Jun 30,                                                                Mar 31,                                                                Dec 31,
(in millions)                                                                2015          2015          2015          2015          2014
---------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Commercial:
   Commercial and industrial                                                                                                     $ 299,892                                                                292,234                                                                284,817                                                                271,088                                                                271,795
   Real estate mortgage                                                                                                            122,160                                                                121,252                                                                119,695                                                                111,848                                                                111,996
   Real estate construction                                                                                                         22,164                                                                 21,710                                                                 21,309                                                                 19,981                                                                 18,728
   Lease financing                                      12,367        12,142        12,201        12,382        12,307
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total commercial                                 456,583       447,338       438,022       415,299       414,826
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Consumer:
   Real estate 1-4 family first mortgage                                                                                           273,869                                                                271,311                                                                267,868                                                                265,213                                                                265,386
   Real estate 1-4 family junior lien mortgage                                                                                      53,004                                                                 54,592                                                                 56,164                                                                 57,839                                                                 59,717
   Credit card                                                                                                                      34,039                                                                 32,286                                                                 31,135                                                                 30,078                                                                 31,119
   Automobile                                                                                                                       59,966                                                                 59,164                                                                 57,801                                                                 56,339                                                                 55,740
   Other revolving credit and installment               39,098        38,542        37,469        36,463        35,763
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total consumer                                   459,976       455,895       450,437       445,932       447,725
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
         Total loans (1)                                                $ 916,559       903,233       888,459       861,231       862,551
---------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
(1) Includes $20.0 billion, $20.7 billion, $21.6 billion, $22.4
billion, and $23.3 billion of purchased credit-impaired (PCI)
loans at December 31, September 30, June 30, and March 31, 2015,
and December 31, 2014, respectively.
 
Our foreign loans are reported by respective class of financing
receivable in the table above. Substantially all of our foreign
loan portfolio is commercial loans. Loans are classified as
foreign primarily based on whether the borrower’s primary address
is outside of the United States. The following table presents
total commercial foreign loans outstanding by class of financing
receivable.
                                                                    
------------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                   Dec 31,                    Sep 30,                    Jun 30,                    Mar 31,                    Dec 31,
(in millions)                                                         2015                       2015                       2015                       2015                       2014
------------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Commercial foreign loans:
   Commercial and industrial                                                                                           $     49,049                                                                              46,380                                                                              44,838                                                                              45,325                                                                              44,707
   Real estate mortgage                                                                                                       8,350                                                                               8,662                                                                               9,125                                                                               5,171                                                                               4,776
   Real estate construction                                                                                                     444                                                                                 396                                                                                 389                                                                                 241                                                                                 218
   Lease financing                                  274                        279                        301                        307                        336
------------------------------------ -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
      Total commercial foreign loans                          $     58,117                     55,717                     54,653                     51,044                     50,037
------------------------------------ -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                
                                                                                                                                                                                                                                                                                                                                                                   
Wells Fargo & Company and Subsidiaries
FIVE QUARTER NONPERFORMING ASSETS (NONACCRUAL LOANS AND
FORECLOSED ASSETS)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                            Dec 31,                          Sep 30,       Jun 30,       Mar 31,       Dec 31,
(in millions)                                                                  2015          2015          2015          2015          2014
------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Nonaccrual loans:
   Commercial:
      Commercial and industrial                                                                                                     $  1,363                                                                  1,031                                                                  1,079                                                                    663                                                                    538
      Real estate mortgage                                                                                                               969                                                                  1,125                                                                  1,250                                                                  1,324                                                                  1,490
      Real estate construction                                                                                                            66                                                                    151                                                                    165                                                                    182                                                                    187
      Lease financing                                         26            29            28            23            24
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
         Total commercial                                  2,424         2,336         2,522         2,192         2,239
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                            7,293                                                                  7,425                                                                  8,045                                                                  8,345                                                                  8,583
      Real estate 1-4 family junior lien mortgage                                                                                      1,495                                                                  1,612                                                                  1,710                                                                  1,798                                                                  1,848
      Automobile                                                                                                                         121                                                                    123                                                                    126                                                                    133                                                                    137
      Other revolving credit and installment                  49            41            40            42            41
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
         Total consumer                                    8,958         9,201         9,921        10,318        10,609
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
            Total nonaccrual loans (1)(2)(3)                               $ 11,382        11,537        12,443        12,510        12,848
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
            As a percentage of total loans                                                                                              1.24 %                                                                 1.28                                                                   1.40                                                                   1.45                                                                   1.49
Foreclosed assets:
   Government insured/guaranteed                                                                                                    $    446                                                                    502                                                                    588                                                                    772                                                                    982
   Non-government insured/guaranteed                         979         1,265         1,370         1,557         1,627
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
            Total foreclosed assets                        1,425         1,767         1,958         2,329         2,609
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
               Total nonperforming assets                                  $ 12,807        13,304        14,401        14,839        15,457
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
               As a percentage of total loans               1.40 %                           1.47          1.62          1.72          1.79
------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
(1) Includes nonaccrual mortgages held for sale and loans held for
sale in their respective loan categories.
(2) Excludes PCI loans because they continue to earn interest
income from accretable yield, independent of performance in
accordance with their contractual terms.
(3) Real estate 1-4 family mortgage loans predominantly insured by
the Federal Housing Administration (FHA) or guaranteed by the
Department of Veterans Affairs (VA) and student loans
predominantly guaranteed by agencies on behalf of the U.S.
Department of Education under the Federal Family Education Loan
Program are not placed on nonaccrual status because they are
insured or guaranteed.
                                                                                                                                                                                                                                                                                                                                                                   
                                                                                                                                                               
Wells Fargo & Company and Subsidiaries
LOANS 90 DAYS OR MORE PAST DUE AND STILL ACCRUING
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                            Dec 31,                                                                       Sep 30,                                                                       Jun 30,                                                                       Mar 31,                                                                       Dec 31,
(in millions)                                                                         2015                 2015                 2015                 2015                 2014
-------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
Total (excluding PCI)(1):                                                                                                                  $ 14,380                                                                        14,405                                                                        15,161                                                                        16,344                                                                        17,810
   Less: FHA insured/guaranteed by the VA (2)(3)                                                                                             13,373                                                                        13,500                                                                        14,359                                                                        15,453                                                                        16,827
   Less: Student loans guaranteed under the FFELP (4)                26                   33                   46                   50                   63
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
            Total, not government insured/guaranteed                              $    981                  872                  756                  841                  920
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
By segment and class, not government insured/guaranteed:
   Commercial:
      Commercial and industrial                                                                                                            $     97                                                                            53                                                                            17                                                                            31                                                                            31
      Real estate mortgage                                                                                                                       13                                                                            24                                                                            10                                                                            43                                                                            16
      Real estate construction                                        4       --       --       --       --
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
         Total commercial                                           114                   77                   27                   74                   47
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
Consumer:
      Real estate 1-4 family first mortgage (3)                                                                                                 224                                                                           216                                                                           220                                                                           221                                                                           260
      Real estate 1-4 family junior lien mortgage (3)                                                                                            65                                                                            61                                                                            65                                                                            55                                                                            83
      Credit card                                                                                                                               397                                                                           353                                                                           304                                                                           352                                                                           364
      Automobile                                                                                                                                 79                                                                            66                                                                            51                                                                            47                                                                            73
      Other revolving credit and installment                        102                   99                   89                   92                   93
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
         Total consumer                                             867                  795                  729                  767                  873
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
            Total, not government insured/guaranteed                              $    981                  872                  756                  841                  920
-------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- --------------
(1) PCI loans totaled $2.9 billion, $3.2 billion, $3.4 billion,
$3.6 billion and $3.7 billion, at December 31, September 30, June
30 and March 31, 2015, and December 31, 2014, respectively.
(2) Represents loans whose repayments are predominantly insured by
the FHA or guaranteed by the VA.
(3) Includes mortgages held for sale 90 days or more past due and
still accruing.
(4) Represents loans whose repayments are predominantly guaranteed
by agencies on behalf of the U.S. Department of Education under
the FFELP.
                                                                                                                                                                                                                                                                                                                                                                                               
 
Wells Fargo & Company and Subsidiaries
CHANGES IN ACCRETABLE YIELD RELATED TO PURCHASED
CREDIT-IMPAIRED (PCI) LOANS
 
Loans purchased with evidence of credit deterioration since
origination and for which it is probable that all contractually
required payments will not be collected are considered to be
credit impaired. PCI loans predominantly represent loans acquired
from Wachovia that were deemed to be credit impaired. Evidence of
credit quality deterioration as of the purchase date may include
statistics such as past due and nonaccrual status, recent borrower
credit scores and recent LTV percentages. PCI loans are initially
measured at fair value, which includes estimated future credit
losses expected to be incurred over the life of the loan.
Accordingly, the associated allowance for credit losses related to
these loans is not carried over at the acquisition date.
 
As a result of PCI loan accounting, certain credit-related ratios
cannot be used to compare a portfolio that includes PCI loans
against one that does not, or to compare ratios across quarters or
years. The ratios particularly affected include the allowance for
loan losses and allowance for credit losses as percentages of
loans, of nonaccrual loans and of nonperforming assets; nonaccrual
loans and nonperforming assets as a percentage of total loans; and
net charge-offs as a percentage of loans.
 
The excess of cash flows expected to be collected over the
carrying value of PCI loans is referred to as the accretable yield
and is accreted into interest income over the estimated lives of
the PCI loans using the effective yield method. The accretable
yield is affected by:
       ? Changes in interest rate indices for variable rate PCI loans -
       Expected future cash flows are based on the variable rates in
       effect at the time of the quarterly assessment of expected cash
       flows;
       ? Changes in prepayment assumptions - Prepayments affect the
       estimated life of PCI loans which may change the amount of
       interest income, and possibly principal, expected to be collected;
       and
       ? Changes in the expected principal and interest payments over the
       estimated life - Updates to changes in expected cash flows are
       driven by the credit outlook and actions taken with borrowers.
       Changes in expected future cash flows from loan modifications are
       included in the regular evaluations of cash flows expected to be
       collected.
 
The change in the accretable yield related to PCI loans is
presented in the following table.
                                                       
------------------------------------------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------
(in millions)                                                             
------------------------------------------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------
Balance, December 31, 2008                                                                  $         10,447
   Addition of accretable yield due to acquisitions                                                                                                               132
   Accretion into interest income (1)                                                                                                                         (12,783 )
   Accretion into noninterest income due to sales (2)                                                                                                            (430 )
   Reclassification from nonaccretable difference for loans with                                                                                                8,568
   improving credit-related cash flows
   Changes in expected cash flows that do not affect nonaccretable                 11,856  
   difference (3)
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------- --------------------
Balance, December 31, 2014                                                                                                                                     17,790
   Addition of accretable yield due to acquisitions                                                                                                    --
   Accretion into interest income (1)                                                                                                                          (1,429 )
   Accretion into noninterest income due to sales (2)                                                                                                             (28 )
   Reclassification from nonaccretable difference for loans with                                                                                                1,166
   improving credit-related cash flows (4)
   Changes in expected cash flows that do not affect nonaccretable                 (1,198 )
   difference (3)
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------- --------------------
Balance, December 31, 2015                                                                  $         16,301  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------- --------------------
                                                       
------------------------------------------------------------------ -------------------- -------------------- -------------------- ---------------------------------------------------------
Balance, September 30, 2015                                                                                                                          $         16,657
   Addition of accretable yield due to acquisitions                                                                                                    --
   Accretion into interest income (1)                                                                                                                            (327 )
   Accretion into noninterest income due to sales (2)                                                                                                  --
   Reclassification from nonaccretable difference for loans with                                                                                                1,135
   improving credit-related cash flows (4)
   Changes in expected cash flows that do not affect nonaccretable                 (1,164 )
   difference (3)
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------- --------------------
Balance, December 31, 2015                                                                  $         16,301  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------- --------------------
(1) Includes accretable yield released as a result of settlements
with borrowers, which is included in interest income.
(2) Includes accretable yield released as a result of sales to
third parties, which is included in noninterest income.
(3) Represents changes in cash flows expected to be collected due
to the impact of modifications, changes in prepayment assumptions,
changes in interest rates on variable rate PCI loans and sales to
third parties.
(4) At December 31, 2015, our carrying value for PCI loans totaled
$20.0 billion and the remainder of nonaccretable difference
established in purchase accounting totaled $1.9 billion. The
nonaccretable difference absorbs losses of contractual amounts
that exceed our carrying value for PCI loans.
 
                               
Wells Fargo & Company and Subsidiaries
PICK-A-PAY PORTFOLIO (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                              December 31, 2015  
                                                                                         --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                              PCI loans                                                                                                                                        All other loans  
                                                                                         ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------                     -------------------- -------------------- --------------------------------------------------------------------------------------------------------------------------------------------------
(in millions)                                                    Adjusted                    Current                                        Carrying                   Ratio of                                        Carrying                   Ratio of  
                                                                                                                            unpaid                                                                                 LTV                                                                                                value (4)                                                                            carrying                                                                                                value (4)                                                                            carrying
                                                                                                                         principal                                                                           ratio (3)                                                                                                                                                                                     value to                                                                                                                                                                                     value to
                                                                                                                       balance (2)                                                                                                                                                                                                                                                                          current                                                                                                                                                                                      current
                                                                                                                                                                                                                                                                                                                                                                                                          value (5)                                                                                                                                                                                    value (5)
------------------------- -------------------- -------------------- -------------------- ----------------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------------------------  -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ----------------------------------------  -------------------- -------------------- -------------------- -------------------- --------------------
California                                                                               $                                  16,552                         73 %                        $                                  13,405                         58 %                        $                                   9,694                         53 %
Florida                                                                                                                      1,875                                                                                  82                                                                                                    1,307                                                                                  55                                                                                                    2,009                                                                                  66
New Jersey                                                                                                                     780                                                                                  81                                                                                                      610                                                                                  60                                                                                                    1,314                                                                                  69
New York                                                                                                                       526                                                                                  77                                                                                                      465                                                                                  62                                                                                                      638                                                                                  67
Texas                                                                                                                          204                                                                                  57                                                                                                      185                                                                                  51                                                                                                      781                                                                                  44
Other states                                                        3,834                                                                                  79                                                                                                    3,066                                                                                  62                                                                                                    5,591                                                                                  65
------------------------- -------------------- -------------------- -------------------- ------------------------------------------                                                                                                                                                   ------------------------------------------                                                                                                                                                   ------------------------------------------
   Total Pick-a-Pay loans       $                                  23,771                                                                                  75                                                                $                                  19,038                                                                                  59                                                                $                                  20,027                                                                                  59
------------------------- -------------------- -------------------- -------------------- -------------------- --------------------                                                                                                                                                    -------------------- --------------------                                                                                                                                                    -------------------- --------------------
                                                              
------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
(1) The individual states shown in this table represent the top
five states based on the total net carrying value of the
Pick-a-Pay loans at the beginning of 2015.
(2) Adjusted unpaid principal balance includes write-downs taken
on loans where severe delinquency (normally 180 days) or other
indications of severe borrower financial stress exist that
indicate there will be a loss of contractually due amounts upon
final resolution of the loan.
(3) The current LTV ratio is calculated as the adjusted unpaid
principal balance divided by the collateral value. Collateral
values are generally determined using automated valuation models
(AVM) and are updated quarterly. AVMs are computer-based tools
used to estimate market values of homes based on processing large
volumes of market data including market comparables and price
trends for local market areas.
(4) Carrying value, which does not reflect the allowance for loan
losses, includes remaining purchase accounting adjustments, which,
for PCI loans may include the nonaccretable difference and the
accretable yield and, for all other loans, an adjustment to mark
the loans to a market yield at date of merger less any subsequent
charge-offs.
(5) The ratio of carrying value to current value is calculated as
the carrying value divided by the collateral value.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                         
NON-STRATEGIC AND LIQUIDATING LOAN PORTFOLIOS
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                           Dec 31,                                                                Sep 30,                                                                Jun 30,                                                                Mar 31,                                                                Dec 31,
(in millions)                                                                                        2015          2015          2015          2015          2014
----------------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Commercial:
   Legacy Wachovia commercial and industrial and commercial real estate                          $    468           506           592           699         1,125
   PCI loans (1)
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
                                                                                   468           506           592           699         1,125
      Total commercial
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Consumer:
   Pick-a-Pay mortgage (1)(2)                                                                                                                               39,065                                                                 40,578                                                                 42,222                                                                 43,745                                                                 45,002
   Legacy Wells Fargo Financial debt consolidation (3)                                                                                                       9,957                                                                 10,315                                                                 10,702                                                                 11,067                                                                 11,417
   Liquidating home equity                                                                                                                                   2,234                                                                  2,388                                                                  2,566                                                                  2,744                                                                  2,910
   Legacy Wachovia other PCI loans (1)                                                                                                                         221                                                                    240                                                                    262                                                                    276                                                                    300
   Legacy Wells Fargo Financial indirect auto (3)                                   10            11            15            23            34
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total consumer                                                            51,487        53,532        55,767        57,855        59,663
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
         Total non-strategic and liquidating loan portfolios                                     $ 51,955        54,038        56,359        58,554        60,788
----------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
(1) Net of purchase accounting adjustments related to PCI loans.
(2) Includes PCI loans of $19.0 billion, $19.7 billion, $20.4
billion, $21.0 billion and $21.5 billion at December 31, September
30, June 30, and March 31, 2015, and December 31, 2014,
respectively.
(3) When we refer to "Legacy Wells Fargo", we mean Wells Fargo
excluding Wachovia Corporation (Wachovia).
                                                                                                                                                                                                                                                                                                                                                                                         
                                                                                                                                                                                                   
Wells Fargo & Company and Subsidiaries
CHANGES IN ALLOWANCE FOR CREDIT LOSSES
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                         Quarter ended December 31,                                                                                                  Year ended December 31,  
                                                                                                                                  ----------------------------------------------------------------------------------------------------------------------                                           -------------------------------------------------------------------------------------------------
(in millions)                                                                                   2015         2014         2015         2014  
------------------------------------------------------------------ -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Balance, beginning of period                                                                                                                         $ 12,562                          13,481                                                                13,169                          14,971
Provision for credit losses                                                                                                                               831                                                                   485                                                                 2,442                                                                 1,395
Interest income on certain impaired loans (1)                                                                                                             (48 )                                                                 (48 )                                                                (198 )                                                                (211 )
Loan charge-offs:
   Commercial:
      Commercial and industrial                                                                                                                          (275 )                                                                (161 )                                                                (734 )                                                                (627 )
      Real estate mortgage                                                                                                                                (11 )                                                                 (19 )                                                                 (59 )                                                                 (66 )
      Real estate construction                                                                                                                             (2 )                                                                  (2 )                                                                  (4 )                                                                  (9 )
      Lease financing                                                          (3 )                            (3 )                           (14 )                           (15 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
         Total commercial                                                    (291 )                          (185 )                          (811 )                          (717 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Consumer:
   Real estate 1-4 family first mortgage                                                                                                                 (113 )                                                                (138 )                                                                (507 )                                                                (721 )
   Real estate 1-4 family junior lien mortgage                                                                                                           (134 )                                                                (193 )                                                                (635 )                                                                (864 )
   Credit card                                                                                                                                           (295 )                                                                (256 )                                                              (1,116 )                                                              (1,025 )
   Automobile                                                                                                                                            (211 )                                                                (214 )                                                                (742 )                                                                (729 )
   Other revolving credit and installment                                    (178 )                          (160 )                          (643 )                          (668 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Total consumer                                                         (931 )                          (961 )                        (3,643 )                        (4,007 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
                                                                           (1,222 )                        (1,146 )                        (4,454 )                        (4,724 )
         Total loan charge-offs
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Loan recoveries:
   Commercial:
      Commercial and industrial                                                                                                                            60                                                                    79                                                                   252                                                                   369
      Real estate mortgage                                                                                                                                 30                                                                    44                                                                   127                                                                   160
      Real estate construction                                                                                                                             12                                                                    28                                                                    37                                                                   136
      Lease financing                                                           2            2            8            8  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
         Total commercial                                                     104          153          424          673  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Consumer:
   Real estate 1-4 family first mortgage                                                                                                                   63                                                                    50                                                                   245                                                                   212
   Real estate 1-4 family junior lien mortgage                                                                                                             64                                                                    59                                                                   259                                                                   238
   Credit card                                                                                                                                             52                                                                    35                                                                   175                                                                   161
   Automobile                                                                                                                                              76                                                                    82                                                                   325                                                                   349
   Other revolving credit and installment                                      32           32          134          146  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Total consumer                                                          287          258        1,138        1,106  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
         Total loan recoveries                                                391          411        1,562        1,779  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
            Net loan charge-offs (2)                                         (831 )                          (735 )                        (2,892 )                        (2,945 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Other                                                                          (2 )                           (14 )                            (9 )                           (41 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Balance, end of period                                                                      $ 12,512       13,169       12,512       13,169  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Components:
   Allowance for loan losses                                                                                                                         $ 11,545                                                                12,319                                                                11,545                                                                12,319
   Allowance for unfunded credit commitments                                  967          850          967          850  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
      Allowance for credit losses (3)                                                       $ 12,512       13,169       12,512       13,169  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
Net loan charge-offs (annualized) as a percentage of average total                                                                                       0.36 %                                                                0.34                                                                  0.33                                                                  0.35
loans (2)
Allowance for loan losses as a percentage of total loans (3)                                                                                             1.26                                                                  1.43                                                                  1.26                                                                  1.43
Allowance for credit losses as a percentage of total loans (3)               1.37         1.53         1.37         1.53  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------ --------------------
(1) Certain impaired loans with an allowance calculated by
discounting expected cash flows using the loan’s effective
interest rate over the remaining life of the loan recognize
reductions in allowance as interest income.
(2) For PCI loans, charge-offs are only recorded to the extent
that losses exceed the purchase accounting estimates.
(3) The allowance for credit losses includes $1 million and $11
million at December 31, 2015 and 2014, respectively, related to
PCI loans acquired from Wachovia. Loans acquired from Wachovia are
included in total loans net of related purchase accounting net
write-downs.
                                                                                                                                                                                                                                                                                                                                                                                 
                                                                        
Wells Fargo & Company and Subsidiaries
FIVE QUARTER CHANGES IN ALLOWANCE FOR CREDIT LOSSES
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                       Quarter ended  
                                                                                                                                  --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                      Dec 31,                                 Sep 30,                          Jun 30,                          Mar 31,                          Dec 31,
(in millions)                                                                                   2015                 2015          2015          2015          2014  
------------------------------------------------------------------ -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Balance, beginning of quarter                                                                                                                        $ 12,562                                                                        12,614                                                                 13,013                                                                 13,169                                                                 13,481
Provision for credit losses                                                                                                                               831                                                                           703                                                                    300                                                                    608                                                                    485
Interest income on certain impaired loans (1)                                                                                                             (48 )                                                                         (48 )                                                                  (50 )                                                                  (52 )                                                                  (48 )
Loan charge-offs:
   Commercial:
      Commercial and industrial                                                                                                                          (275 )                                                                        (172 )                                                                 (154 )                                                                 (133 )                                                                 (161 )
      Real estate mortgage                                                                                                                                (11 )                                                                          (9 )                                                                  (16 )                                                                  (23 )                                                                  (19 )
      Real estate construction                                                                                                                             (2 )                                                              --                                                                     (1 )                                                                   (1 )                                                                   (2 )
      Lease financing                                                          (3 )                                    (5 )                             (3 )                             (3 )                             (3 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total commercial                                                    (291 )                                  (186 )                           (174 )                           (160 )                           (185 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                                              (113 )                                                                        (145 )                                                                 (119 )                                                                 (130 )                                                                 (138 )
      Real estate 1-4 family junior lien mortgage                                                                                                        (134 )                                                                        (159 )                                                                 (163 )                                                                 (179 )                                                                 (193 )
      Credit card                                                                                                                                        (295 )                                                                        (259 )                                                                 (284 )                                                                 (278 )                                                                 (256 )
      Automobile                                                                                                                                         (211 )                                                                        (186 )                                                                 (150 )                                                                 (195 )                                                                 (214 )
      Other revolving credit and installment                                 (178 )                                  (160 )                           (151 )                           (154 )                           (160 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total consumer                                                      (931 )                                  (909 )                           (867 )                           (936 )                           (961 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
            Total loan charge-offs                                         (1,222 )                                (1,095 )                         (1,041 )                         (1,096 )                         (1,146 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Loan recoveries:
   Commercial:
      Commercial and industrial                                                                                                                            60                                                                            50                                                                     73                                                                     69                                                                     79
      Real estate mortgage                                                                                                                                 30                                                                            32                                                                     31                                                                     34                                                                     44
      Real estate construction                                                                                                                             12                                                                             8                                                                      7                                                                     10                                                                     28
      Lease financing                                                           2                    2             1             3             2  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total commercial                                                     104                   92           112           116           153  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Consumer:
      Real estate 1-4 family first mortgage                                                                                                                63                                                                            83                                                                     52                                                                     47                                                                     50
      Real estate 1-4 family junior lien mortgage                                                                                                          64                                                                            70                                                                     69                                                                     56                                                                     59
      Credit card                                                                                                                                          52                                                                            43                                                                     41                                                                     39                                                                     35
      Automobile                                                                                                                                           76                                                                            73                                                                     82                                                                     94                                                                     82
      Other revolving credit and installment                                   32                   31            35            36            32  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total consumer                                                       287                  300           279           272           258  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
            Total loan recoveries                                             391                  392           391           388           411  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                             (831 )                                  (703 )                           (650 )                           (708 )                           (735 )
               Net loan charge-offs
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Other                                                                          (2 )                                    (4 )                              1            (4 )                            (14 )
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Balance, end of quarter                                                                     $ 12,512               12,562        12,614        13,013        13,169  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Components:
   Allowance for loan losses                                                                                                                         $ 11,545                                                                        11,659                                                                 11,754                                                                 12,176                                                                 12,319
   Allowance for unfunded credit commitments                                  967                  903           860           837           850  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Allowance for credit losses                                                           $ 12,512               12,562        12,614        13,013        13,169  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Net loan charge-offs (annualized) as a percentage of average total                                                                                       0.36 %                                                                        0.31                                                                   0.30                                                                   0.33                                                                   0.34
loans
Allowance for loan losses as a percentage of:
   Total loans                                                                                                                                           1.26                                                                          1.29                                                                   1.32                                                                   1.41                                                                   1.43
   Nonaccrual loans                                                                                                                                       101                                                                           101                                                                     94                                                                     97                                                                     96
   Nonaccrual loans and other nonperforming assets                                                                                                         90                                                                            88                                                                     82                                                                     82                                                                     80
Allowance for credit losses as a percentage of:
   Total loans                                                                                                                                           1.37                                                                          1.39                                                                   1.42                                                                   1.51                                                                   1.53
   Nonaccrual loans                                                                                                                                       110                                                                           109                                                                    101                                                                    104                                                                    103
   Nonaccrual loans and other nonperforming assets                             98                   94            88            88            85  
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
(1) Certain impaired loans with an allowance calculated by
discounting expected cash flows using the loan’s effective
interest rate over the remaining life of the loan recognize
reductions in allowance as interest income.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
                                                                                                                                                                                                                                                  
Wells Fargo & Company and Subsidiaries
COMMON EQUITY TIER 1 UNDER BASEL III (FULLY PHASED-IN) (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                 Estimated
                                                                                                                                                                                                   Dec 31,                                           Sep 30,                                           Jun 30,                                           Mar 31,                                           Dec 31,
(in billions)                                                                                          2015        2015        2015        2015        2014  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------------------------------------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Total equity                                                                                                                                                                                     $   194.0                                             194.0                                             190.7                                             190.0                                             185.3
Noncontrolling interests                                                            (0.9 )                         (0.9 )                         (1.1 )                         (1.2 )                         (0.9 )
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
   Total Wells Fargo stockholders’ equity               193.1       193.1       189.6       188.8       184.4  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Adjustments:
   Preferred stock                                                                                                                                                                                   (21.0 )                                           (21.0 )                                           (20.0 )                                           (20.0 )                                           (18.0 )
   Goodwill and other intangible assets (2)                                                                                                                                                          (28.7 )                                           (28.7 )                                           (29.1 )                                           (28.9 )                                           (29.0 )
   Investment in certain subsidiaries and other                                     (0.9 )                         (1.6 )                         (0.6 )                         (0.9 )                         (0.7 )
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Common Equity Tier 1 (Fully Phased-In) under Basel III (1)                 (A)                        142.5       141.8       139.9       139.0       136.7  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Total risk-weighted assets (RWAs) anticipated under Basel III (3)(4)       (B)                                       $ 1,334.9     1,331.8     1,325.6     1,326.3     1,310.5  
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
Common Equity Tier 1 to total RWAs anticipated under Basel III             (A)/(B)                     10.7 %                         10.6        10.6        10.5        10.4  
(Fully Phased-In) (4)
-------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- -------------------- -------------------- ------- --------------------
(1) Basel III capital rules, adopted by the Federal Reserve Board
on July 2, 2013, revised the definition of capital, increased
minimum capital ratios, and introduced a minimum Common Equity
Tier 1 (CET1) ratio. These rules established a new comprehensive
capital framework for U.S. banking organizations that implements
the Basel III capital framework and certain provisions of the
Dodd-Frank Act. The rules are being phased in through the end of
2021. Fully phased-in capital amounts, ratios and RWAs are
calculated assuming the full phase-in of the Basel III capital
rules. Fully phased-in regulatory capital amounts, ratios and RWAs
are considered non-GAAP financial measures that are used by
management, bank regulatory agencies, investors and analysts to
assess and monitor the Company’s capital position. We have
included this non-GAAP financial information, and the
corresponding reconciliation to total equity, because of current
interest in such information on the part of market participants.
(2) Goodwill and other intangible assets are net of any associated
deferred tax liabilities.
(3) The final Basel III capital rules provide for two capital
frameworks: the Standardized Approach, which replaced Basel I, and
the Advanced Approach applicable to certain institutions. Under
the final rules, we are subject to the lower of our CET1 ratio
calculated under the Standardized Approach and under the Advanced
Approach in the assessment of our capital adequacy. Because the
final determination of our CET1 ratio and which approach will
produce the lower CET1 ratio as of December 31, 2015, is subject
to detailed analysis of considerable data, our CET1 ratio at that
date has been estimated using the Basel III definition of capital
under the Basel III Standardized Approach RWAs. The capital ratio
for September 30, 2015, and June 30, 2015, was calculated under
the Basel III Standardized Approach RWAs, and the capital ratio
for March 31, 2015, and December 31, 2014, was calculated under
the Basel III Advanced Approach RWAs.
(4) The Company’s December 31, 2015, RWAs and capital ratio are
preliminary estimates.
                                                                                                                                                                                                                                                                                                                                                                                                                    
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Wells Fargo & Company and Subsidiaries
OPERATING SEGMENT RESULTS (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
(income/expense in millions,                                                                                                                                                                         Community                                                                                                                             Wholesale                                                                                                                                               Wealth and                                                                                                                                                Other (2)                                                                                                                                             Consolidated
average balances in billions)                                                                                                                                                                                                                                   Banking                                                                                                                                                                                                           Banking                                                                                                                                                                                                        Investment                                                                                                                                                                                                                                                                                                                                                                                                                             Company
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Management
                                                                                                                     --------------------------------------------------------------------------------------------------------------------------------------------                                                                                           ------------------------------------------------------------------------------------------------------------------------                                                                                          ------------------------------------------------------------------------------------------------------------------------                                                                                          ------------------------------------------------------------------------------------------------------------------------                                                                                          ------------------------------------------------------------------------------------------------------------------------
                                                                                               2015                         2014                         2015                         2014                         2015                         2014                         2015                         2014                         2015                         2014
----------------------------------------------------- -------------------- -------------------- -------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Quarter ended Dec 31,                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  
Net interest income (3)                                                                                                                 $                7,409                                                                                                    7,149                                                                                                    3,711                                                                                                    3,633                                                                                                      933                                                                                                      811                                                                                                     (465 )                                                                                                   (413 )                                                                                                 11,588                                                                                                   11,180
Provision (reversal of provision) for credit losses                                                                                                        704                                                                                                      506                                                                                                      126                                                                                                      (33 )                                                                                                     (6 )                                                                                                      8                                                                                                        7                                                                                                        4                                                                                                      831                                                                                                      485
Noninterest income                                                                                                                                       4,921                                                                                                    5,009                                                                                                    2,848                                                                                                    2,899                                                                                                    3,014                                                                                                    3,102                                                                                                     (785 )                                                                                                   (747 )                                                                                                  9,998                                                                                                   10,263
Noninterest expense                                                          6,693                        6,827                        3,491                        3,533                        2,998                        3,066                         (783 )                                          (779 )                                        12,399                       12,647
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Income (loss) before income tax expense (benefit)                                                                                                        4,933                                                                                                    4,825                                                                                                    2,942                                                                                                    3,032                                                                                                      955                                                                                                      839                                                                                                     (474 )                                                                                                   (385 )                                                                                                  8,356                                                                                                    8,311
Income tax expense (benefit)                                                 1,573                        1,484                          841                          864                          366                          318                         (181 )                                          (147 )                                         2,599                        2,519
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Net income (loss) before noncontrolling interests                                                                                                        3,360                                                                                                    3,341                                                                                                    2,101                                                                                                    2,168                                                                                                      589                                                                                                      521                                                                                                     (293 )                                                                                                   (238 )                                                                                                  5,757                                                                                                    5,792
Less: Net income (loss) from noncontrolling interests                           57                            8                           (3 )                                            73                           (6 )                                             2               --               --                           48                           83
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              $                3,303                        3,333                        2,104                        2,095                          595                          519                         (293 )                                          (238 )                                         5,709                        5,709
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
Average loans                                                                                                                           $                482.2                                                                                                    469.6                                                                                                    417.0                                                                                                    369.0                                                                                                     63.0                                                                                                     54.8                                                                                                    (49.9 )                                                                                                  (44.0 )                                                                                                  912.3                                                                                                    849.4
Average assets                                                                                                                                           921.4                                                                                                    891.2                                                                                                    755.4                                                                                                    668.8                                                                                                    197.9                                                                                                    188.2                                                                                                    (87.4 )                                                                                                  (84.4 )                                                                                                1,787.3                                                                                                  1,663.8
Average deposits                                                                                                                                         663.7                                                                                                    629.4                                                                                                    449.3                                                                                                    424.0                                                                                                    177.9                                                                                                    165.5                                                                                                    (74.1 )                                                                                                  (69.1 )                                                                                                1,216.8                                                                                                  1,149.8
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
Year ended Dec 31,
Net interest income (3)                                                                                                                 $               29,242                                                                                                   27,999                                                                                                   14,350                                                                                                   14,073                                                                                                    3,478                                                                                                    3,032                                                                                                   (1,769 )                                                                                                 (1,577 )                                                                                                 45,301                                                                                                   43,527
Provision (reversal of provision) for credit losses                                                                                                      2,427                                                                                                    1,796                                                                                                       27                                                                                                     (382 )                                                                                                    (25 )                                                                                                    (50 )                                                                                                     13                                                                                                       31                                                                                                    2,442                                                                                                    1,395
Noninterest income                                                                                                                                      20,099                                                                                                   20,159                                                                                                   11,554                                                                                                   11,325                                                                                                   12,299                                                                                                   12,237                                                                                                   (3,196 )                                                                                                 (2,901 )                                                                                                 40,756                                                                                                   40,820
Noninterest expense                                                         26,781                       26,290                       14,116                       13,831                       12,067                       11,993                       (3,190 )                                        (3,077 )                                        49,774                       49,037
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Income (loss) before income tax expense (benefit)                                                                                                       20,133                                                                                                   20,072                                                                                                   11,761                                                                                                   11,949                                                                                                    3,735                                                                                                    3,326                                                                                                   (1,788 )                                                                                                 (1,432 )                                                                                                 33,841                                                                                                   33,915
Income tax expense (benefit)                                                 6,268                        6,049                        3,424                        3,540                        1,420                        1,262                         (681 )                                          (544 )                                        10,431                       10,307
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Net income (loss) before noncontrolling interests                                                                                                       13,865                                                                                                   14,023                                                                                                    8,337                                                                                                    8,409                                                                                                    2,315                                                                                                    2,064                                                                                                   (1,107 )                                                                                                   (888 )                                                                                                 23,410                                                                                                   23,608
Less: Net income (loss) from noncontrolling interests                          240                          337                          143                          210                           (1 )                                             4               --               --                          382                          551
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Net income (loss)                                                              $               13,625                       13,686                        8,194                        8,199                        2,316                        2,060                       (1,107 )                                          (888 )                                        23,028                       23,057
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                            
Average loans                                                                                                                           $                475.9                                                                                                    468.8                                                                                                    397.3                                                                                                    355.6                                                                                                     60.1                                                                                                     52.1                                                                                                    (47.9 )                                                                                                  (42.1 )                                                                                                  885.4                                                                                                    834.4
Average assets                                                                                                                                           910.0                                                                                                    853.2                                                                                                    724.9                                                                                                    636.5                                                                                                    192.8                                                                                                    186.1                                                                                                    (84.8 )                                                                                                  (82.5 )                                                                                                1,742.9                                                                                                  1,593.3
Average deposits                                                             654.4                        614.3                        438.9                        404.0                        172.3                        163.5                        (71.5 )                                         (67.7 )                                       1,194.1                      1,114.1
----------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
(1) The management accounting process measures the performance of
the operating segments based on our management structure and is
not necessarily comparable with other similar information for
other financial services companies. We define our operating
segments by product type and customer segment. Effective third
quarter 2015, we realigned our asset management business from
Wholesale Banking to Wealth and Investment Management (WIM)
(formerly Wealth, Brokerage and Retirement), and realigned our
reinsurance business from WIM and our strategic auto investments
from Community Banking to Wholesale Banking. Effective fourth
quarter 2015, we realigned our business banking and merchant
payment services businesses from Community Banking to Wholesale
Banking. Results for these operating segments were revised for
prior periods to reflect the impact of these realignments.
(2) Includes items not specific to a business segment and
elimination of certain items that are included in more than one
business segment, substantially all of which represents services
for wealth management customers provided in Community Banking
stores.
(3) Net interest income is the difference between interest earned
on assets and the cost of liabilities to fund those assets.
Interest earned includes actual interest earned on segment assets
and, if the segment has excess liabilities, interest credits for
providing funding to other segments. The cost of liabilities
includes interest expense on segment liabilities and, if the
segment does not have enough liabilities to fund its assets, a
funding charge based on the cost of excess liabilities from
another segment.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                        
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
Wells Fargo & Company and Subsidiaries
FIVE QUARTER OPERATING SEGMENT RESULTS (1)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                      Quarter ended  
                                                                                                                          --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                   Dec 31,                                 Sep 30,                                 Jun 30,                                 Mar 31,                                 Dec 31,
(income/expense in millions, average balances in billions)                                      2015                 2015                 2015                 2015                 2014  
---------------------------------------------------------- -------------------- -------------------- -------------------- ----------------------------------  -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
COMMUNITY BANKING
Net interest income (2)                                                                                                                      $          7,409                                                                         7,409                                                                         7,277                                                                         7,147                                                                         7,149
Provision for credit losses                                                                                                                               704                                                                           668                                                                           397                                                                           658                                                                           506
Noninterest income                                                                                                                                      4,921                                                                         5,524                                                                         4,690                                                                         4,964                                                                         5,009
Noninterest expense                                                         6,693                6,778                6,719                6,591                6,827  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Income before income tax expense                                                                                                                        4,933                                                                         5,487                                                                         4,851                                                                         4,862                                                                         4,825
Income tax expense                                                          1,573                1,785                1,620                1,290                1,484  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Net income before noncontrolling interests                                                                                                              3,360                                                                         3,702                                                                         3,231                                                                         3,572                                                                         3,341
Less: Net income from noncontrolling interests                                 57                  142                   16                   25                    8  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Segment net income                                                                  $          3,303                3,560                3,215                3,547                3,333  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Average loans                                                                                                                                $          482.2                                                                         477.0                                                                         472.3                                                                         472.2                                                                         469.6
Average assets                                                                                                                                          921.4                                                                         898.9                                                                         910.0                                                                         909.5                                                                         891.2
Average deposits                                                            663.7                655.6                654.8                643.4                629.4  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
WHOLESALE BANKING
Net interest income (2)                                                                                                                      $          3,711                                                                         3,611                                                                         3,591                                                                         3,437                                                                         3,633
Provision (reversal of provision) for credit losses                                                                                                       126                                                                            36                                                                           (84 )                                                                         (51 )                                                                         (33 )
Noninterest income                                                                                                                                      2,848                                                                         2,715                                                                         3,019                                                                         2,972                                                                         2,899
Noninterest expense                                                         3,491                3,503                3,504                3,618                3,533  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Income before income tax expense                                                                                                                        2,942                                                                         2,787                                                                         3,190                                                                         2,842                                                                         3,032
Income tax expense                                                            841                  815                  951                  817                  864  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Net income before noncontrolling interests                                                                                                              2,101                                                                         1,972                                                                         2,239                                                                         2,025                                                                         2,168
Less: Net income (loss) from noncontrolling interests                          (3 )                                    47                   48                   51                   73  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Segment net income                                                                  $          2,104                1,925                2,191                1,974                2,095  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Average loans                                                                                                                                $          417.0                                                                         405.6                                                                         386.2                                                                         380.0                                                                         369.0
Average assets                                                                                                                                          755.4                                                                         739.1                                                                         713.7                                                                         690.6                                                                         668.8
Average deposits                                                            449.3                442.0                432.4                431.7                424.0  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
WEALTH AND INVESTMENT MANAGEMENT
Net interest income (2)                                                                                                                      $            933                                                                           887                                                                           832                                                                           826                                                                           811
Provision (reversal of provision) for credit losses                                                                                                        (6 )                                                                          (6 )                                                                         (10 )                                                                          (3 )                                                                           8
Noninterest income                                                                                                                                      3,014                                                                         2,991                                                                         3,144                                                                         3,150                                                                         3,102
Noninterest expense                                                         2,998                2,909                3,038                3,122                3,066  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Income before income tax expense                                                                                                                          955                                                                           975                                                                           948                                                                           857                                                                           839
Income tax expense                                                            366                  371                  359                  324                  318  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Net income before noncontrolling interests                                                                                                                589                                                                           604                                                                           589                                                                           533                                                                           521
Less: Net income (loss) from noncontrolling interests                          (6 )                                    (2 )                                     3                    4                    2  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Segment net income                                                                  $            595                  606                  586                  529                  519  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Average loans                                                                                                                                $           63.0                                                                          61.1                                                                          59.3                                                                          56.9                                                                          54.8
Average assets                                                                                                                                          197.9                                                                         192.6                                                                         189.1                                                                         191.6                                                                         188.2
Average deposits                                                            177.9                172.6                168.2                170.3                165.5  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
OTHER (3)
Net interest income (2)                                                                                                                      $           (465 )                                                                        (450 )                                                                        (430 )                                                                        (424 )                                                                        (413 )
Provision (reversal of provision) for credit losses                                                                                                         7                                                                             5                                                                            (3 )                                                                           4                                                                             4
Noninterest income                                                                                                                                       (785 )                                                                        (812 )                                                                        (805 )                                                                        (794 )                                                                        (747 )
Noninterest expense                                                          (783 )                                  (791 )                                  (792 )                                  (824 )                                  (779 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Loss before income tax benefit                                                                                                                           (474 )                                                                        (476 )                                                                        (440 )                                                                        (398 )                                                                        (385 )
Income tax benefit                                                           (181 )                                  (181 )                                  (167 )                                  (152 )                                  (147 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Net loss before noncontrolling interests                                                                                                                 (293 )                                                                        (295 )                                                                        (273 )                                                                        (246 )                                                                        (238 )
Less: Net income from noncontrolling interests                     --       --       --       --       --  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Other net loss                                                                      $           (293 )                                  (295 )                                  (273 )                                  (246 )                                  (238 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Average loans                                                                                                                                $          (49.9 )                                                                       (48.6 )                                                                       (47.4 )                                                                       (45.8 )                                                                       (44.0 )
Average assets                                                                                                                                          (87.4 )                                                                       (84.2 )                                                                       (83.5 )                                                                       (83.9 )                                                                       (84.4 )
Average deposits                                                            (74.1 )                                 (71.3 )                                 (70.1 )                                 (70.6 )                                 (69.1 )
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
CONSOLIDATED COMPANY
Net interest income (2)                                                                                                                      $         11,588                                                                        11,457                                                                        11,270                                                                        10,986                                                                        11,180
Provision for credit losses                                                                                                                               831                                                                           703                                                                           300                                                                           608                                                                           485
Noninterest income                                                                                                                                      9,998                                                                        10,418                                                                        10,048                                                                        10,292                                                                        10,263
Noninterest expense                                                        12,399               12,399               12,469               12,507               12,647  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Income before income tax expense                                                                                                                        8,356                                                                         8,773                                                                         8,549                                                                         8,163                                                                         8,311
Income tax expense                                                          2,599                2,790                2,763                2,279                2,519  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Net income before noncontrolling interests                                                                                                              5,757                                                                         5,983                                                                         5,786                                                                         5,884                                                                         5,792
Less: Net income from noncontrolling interests                                 48                  187                   67                   80                   83  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Wells Fargo net income                                                              $          5,709                5,796                5,719                5,804                5,709  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
Average loans                                                                                                                                $          912.3                                                                         895.1                                                                         870.4                                                                         863.3                                                                         849.4
Average assets                                                                                                                                        1,787.3                                                                       1,746.4                                                                       1,729.3                                                                       1,707.8                                                                       1,663.8
Average deposits                                                          1,216.8              1,198.9              1,185.3              1,174.8              1,149.8  
---------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- -------------------- -------------------- -------------------- -------------- --------------------
(1) The management accounting process measures the performance of
the operating segments based on our management structure and is
not necessarily comparable with other similar information for
other financial services companies. We define our operating
segments by product type and customer segment. Effective third
quarter 2015, we realigned our asset management business from
Wholesale Banking to Wealth and Investment Management (WIM)
(formerly Wealth, Brokerage and Retirement), and realigned our
reinsurance business from WIM and our strategic auto investments
from Community Banking to Wholesale Banking. Effective fourth
quarter 2015, we realigned our business banking and merchant
payment services businesses from Community Banking to Wholesale
Banking. Results for these operating segments were revised for
prior periods to reflect the impact of these realignments.
(2) Net interest income is the difference between interest earned
on assets and the cost of liabilities to fund those assets.
Interest earned includes actual interest earned on segment assets
and, if the segment has excess liabilities, interest credits for
providing funding to other segments. The cost of liabilities
includes interest expense on segment liabilities and, if the
segment does not have enough liabilities to fund its assets, a
funding charge based on the cost of excess liabilities from
another segment.
(3) Includes items not specific to a business segment and
elimination of certain items that are included in more than one
business segment, substantially all of which represents products
and services for wealth management customers provided in Community
Banking stores.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       
                                                                      
Wells Fargo & Company and Subsidiaries
FIVE QUARTER CONSOLIDATED MORTGAGE SERVICING
                                                                                                                                                                                                                                                                                                                                                                     Quarter ended  
                                                                                                                                --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                    Dec 31,                          Sep 30,                          Jun 30,                          Mar 31,                          Dec 31,
(in millions)                                                                                 2015          2015          2015          2015          2014  
---------------------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------ -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
MSRs measured using the fair value method:
Fair value, beginning of quarter                                                                                                                   $ 11,778                                                                 12,661                                                                 11,739                                                                 12,738                                                                 14,031
   Servicing from securitizations or asset transfers                                                                                                    372                                                                    448                                                                    428                                                                    308                                                                    296
   Sales and other (1)                                                       (9 )                              6            (5 )                             (1 )                             (7 )
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                            363           454           423           307           289  
      Net additions
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
   Changes in fair value:
      Due to changes in valuation model inputs or assumptions:
         Mortgage interest rates (2)                                                                                                                    560                                                                   (858 )                                                                1,117                                                                   (572 )                                                               (1,016 )
         Servicing and foreclosure costs (3)                                                                                                            (37 )                                                                  (18 )                                                                  (10 )                                                                  (18 )                                                                   (5 )
         Prepayment estimates and other (4)                                 244            43           (54 )                           (183 )                            (78 )
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
            Net changes in valuation model inputs or assumptions            767          (833 )                          1,053          (773 )                         (1,099 )
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
      Other changes in fair value (5)                                      (493 )                           (504 )                           (554 )                           (533 )                           (483 )
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total changes in fair value                                        274        (1,337 )                            499        (1,306 )                         (1,582 )
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Fair value, end of quarter                                                                $ 12,415        11,778        12,661        11,739        12,738  
---------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ------ -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
(1) Includes sales and transfers of MSRs, which can result in an
increase of total reported MSRs if the sales or transfers are
related to nonperforming loan portfolios.
(2) Includes prepayment speed changes as well as other valuation
changes due to changes in mortgage interest rates (such as changes
in estimated interest earned on custodial deposit balances).
(3) Includes costs to service and unreimbursed foreclosure costs.
(4) Represents changes driven by other valuation model inputs or
assumptions including prepayment speed estimation changes and
other assumption updates. Prepayment speed estimation changes are
influenced by observed changes in borrower behavior and other
external factors that occur independent of interest rate changes.
(5) Represents changes due to collection/realization of expected
cash flows over time.
                                                                                                                                                                                                                                                                                                                                                                                                                                                         
                                                          
                                         
---------------------------------------------------- -------------------- -------------------- -------------------- ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                         Quarter ended
                                                                                                                    ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                       Dec 31,                          Sep 30,                          Jun 30,                          Mar 31,                          Dec 31,
(in millions)                                                                    2015          2015          2015          2015          2014  
---------------------------------------------------- -------------------- -------------------- -------------------- -------------------------  -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Amortized MSRs:
Balance, beginning of quarter                                                                                                          $ 1,277                                                                  1,262                                                                  1,252                                                                  1,242                                                                  1,224
   Purchases                                                                                                                                48                                                                     45                                                                     29                                                                     22                                                                     38
   Servicing from securitizations or asset transfers                                                                                        49                                                                     35                                                                     46                                                                     50                                                                     43
   Amortization                                                (66 )                            (65 )                            (65 )                            (62 )                            (63 )
---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Balance, end of quarter                                                       $ 1,308         1,277         1,262         1,252         1,242  
---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Fair value of amortized MSRs:
   Beginning of quarter                                                                                                                $ 1,643                                                                  1,692                                                                  1,522                                                                  1,637                                                                  1,647
   End of quarter                                            1,680         1,643         1,692         1,522         1,637  
---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ----- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
                                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                  
Wells Fargo & Company and Subsidiaries
FIVE QUARTER CONSOLIDATED MORTGAGE SERVICING (CONTINUED)
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                    Quarter ended  
                                                                                                                                                                               --------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                 Dec 31,                          Sep 30,                          Jun 30,                          Mar 31,                          Dec 31,
(in millions)                                                                                        2015          2015          2015          2015          2014  
--------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Servicing income, net:
   Servicing fees (1)                                                                                                                                                                             $  872                                                                    990                                                                  1,026                                                                  1,010                                                                    996
   Changes in fair value of MSRs carried at fair value:
      Due to changes in valuation model inputs or assumptions (2)                                                                    (A)                                                             767                                                                   (833 )                                                                1,053                                                                   (773 )                                                               (1,099 )
      Other changes in fair value (3)                                             (493 )                           (504 )                           (554 )                           (533 )                           (483 )
--------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total changes in fair value of MSRs carried at fair value                                                                                                                                   274                                                                 (1,337 )                                                                  499                                                                 (1,306 )                                                               (1,582 )
   Amortization                                                                                                                                                                                      (66 )                                                                  (65 )                                                                  (65 )                                                                  (62 )                                                                  (63 )
   Net derivative gains (losses) from economic hedges (4)                   (B)                      (350 )                          1,086          (946 )                            881         1,334  
--------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
            Total servicing income, net                                                            $  730           674           514           523           685  
--------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Market-related valuation changes to MSRs, net of hedge results (2)(4)       (A)+(B)                                   $  417           253           107           108           235  
--------------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
(1) Includes contractually specified servicing fees, late charges
and other ancillary revenues.
(2) Refer to the changes in fair value MSRs table on the previous
page for more detail.
(3) Represents changes due to collection/realization of expected
cash flows over time.
(4) Represents results from economic hedges used to hedge the risk
of changes in fair value of MSRs.
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                      
                                                                                               
--------------------------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
                                                                                              Dec 31,                                       Sep 30,                    Jun 30,                    Mar 31,                    Dec 31,
(in billions)                                                                                    2015                       2015                       2015                       2015                       2014
--------------------------------------------------------------- -------------------- -------------------- -------------------- ---------------------------------------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Managed servicing portfolio (1):
   Residential mortgage servicing:
      Serviced for others                                                                                                                         $      1,300                                                                               1,323                                                                               1,344                                                                               1,374                                                                               1,405
      Owned loans serviced                                                                                                                                 345                                                                                 346                                                                                 347                                                                                 344                                                                                 342
      Subserviced for others                                                     4                          4                          5                          5                          5
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
         Total residential servicing                                         1,649                      1,673                      1,696                      1,723                      1,752
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
   Commercial mortgage servicing:
      Serviced for others                                                                                                                                  478                                                                                 470                                                                                 465                                                                                 461                                                                                 456
      Owned loans serviced                                                                                                                                 122                                                                                 121                                                                                 120                                                                                 112                                                                                 112
      Subserviced for others                                                     7                          7                          7                          7                          7
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
         Total commercial servicing                                            607                        598                        592                        580                        575
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
            Total managed servicing portfolio                                            $      2,256                      2,271                      2,288                      2,303                      2,327
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
Total serviced for others                                                                                                                         $      1,778                                                                               1,793                                                                               1,809                                                                               1,835                                                                               1,861
Ratio of MSRs to related loans serviced for others                                                                                                        0.77 %                                                                              0.73                                                                                0.77                                                                                0.71                                                                                0.75
Weighted-average note rate (mortgage loans serviced for others)               4.37                       4.39                       4.41                       4.43                       4.45
--------------------------------------------------------------- -------------------- -------------------- -------------------- -------------------- ---------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- --------------------
(1) The components of our managed servicing portfolio are
presented at unpaid principal balance for loans serviced and
subserviced for others and at book value for owned loans serviced.
 
                                                                                               
Wells Fargo & Company and Subsidiaries
SELECTED FIVE QUARTER RESIDENTIAL MORTGAGE PRODUCTION DATA
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                                                                                                                                                                                 Quarter ended
                                                                                                                                                                            ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                              Dec 31,                          Sep 30,       Jun 30,       Mar 31,       Dec 31,
                                                                               2015          2015          2015          2015          2014
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- ---------------------------------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Net gains on mortgage loan origination/sales activities (in
millions):
   Residential                                                                                                                    (A)                                                          $  600                                                                    736                                                                    814                                                                    711                                                                    605
   Commercial                                                                                                                                                                                     108                                                                     55                                                                    108                                                                     91                                                                     66
   Residential pipeline and unsold/repurchased loan management (1)              222           124           269           222           159
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total                                                                                     $  930           915         1,191         1,024           830
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Application data (in billions):
   Wells Fargo first mortgage quarterly applications                                                                                                                                           $   64                                                                     73                                                                     81                                                                     93                                                                     66
   Refinances as a percentage of applications                                                                                                                                                      48 %                                                                   44                                                                     45                                                                     61                                                                     52
   Wells Fargo first mortgage unclosed pipeline, at quarter end                                 $   29            34            38            44            26
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Residential real estate originations:
   Purchases as a percentage of originations                                                                                                                                                       59 %                                                                   66                                                                     54                                                                     45                                                                     60
   Refinances as a percentage of originations                                    41            34            46            55            40
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total                                                                     100 %                            100           100           100           100
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
   Wells Fargo first mortgage loans (in billions):
      Retail                                                                                                                                                                                   $   27                                                                     32                                                                     36                                                                     28                                                                     27
      Correspondent                                                                                                                                                                                19                                                                     22                                                                     25                                                                     20                                                                     16
   Other (2)                                                                      1             1             1             1             1
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total quarter-to-date                                                                                        $   47            55            62            49            44
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- ----------------------------------------  ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
   Held-for-sale                                                                                                                  (B)                                                          $   33                                                                     39                                                                     46                                                                     37                                                                     31
   Held-for-investment                                                           14            16            16            12            13
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total quarter-to-date                                                                     $   47            55            62            49            44
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
      Total year-to-date                                                                        $  213           166           111            49           175
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
Production margin on residential held-for-sale mortgage                  (A)/(B)                  1.83 %                           1.88          1.75          1.93          1.94
originations
------------------------------------------------------------------ -------------------- -------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- -------
(1) Primarily includes the results of GNMA loss mitigation
activities, interest rate management activities and changes in
estimate to the liability for mortgage loan repurchase losses.
(2) Consists of home equity loans and lines.
                                                                                                                                                                                                                                                                                                                                                                                                                            
                                                                                                                                                                                                                                          
CHANGES IN MORTGAGE REPURCHASE LIABILITY
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
                                                                                                                                                                                                                                                             Quarter ended                                                                           Year ended  
                                                                                                   -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- -------------------- -------------------- ---------------------------------------------------------------------------------------------------
                                                                                                                     Dec 31,                          Sep 30,                          Jun 30,                                                                Dec 31,                          Dec 31,
(in millions)                               2015          2015          2015          2015          2014  
----------------------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Balance, beginning of period                                                                                          $  538                                                                    557                                                                    586                                                                    615                                                                    899
   Provision for repurchase losses:
      Loan sales                                                                                                           9                                                                     11                                                                     13                                                                     43                                                                     44
      Change in estimate (1)                (128 )                            (17 )                            (31 )                           (202 )                           (184 )
----------------------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
         Total reductions                                                                                               (119 )                                                                   (6 )                                                                  (18 )                                                                 (159 )                                                                 (140 )
   Losses                                    (41 )                            (13 )                            (11 )                            (78 )                           (144 )
----------------------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
Balance, end of period                                       $  378           538           557           378           615  
----------------------------------- -------------------- -------------------- -------------------- -------------------- ---- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- -------------------- -------------------- -------------------- ------- --------------------
(1) Results from changes in investor demand, mortgage insurer
practices, credit and the financial stability of correspondent
lenders.

http://cts.businesswire.com/ct/CT?id=bwnews&sty=20160115005204r1&sid=cmtx6&distro=nx&lang=en

View source version on businesswire.com: http://www.businesswire.com/news/home/20160115005204/en/

SOURCE: Wells Fargo & Company

Wells Fargo & Company 
Media 
Ancel Martinez, 415-222-3858 
or 
Investors 
Jim Rowe, 415-396-8216


Register |  Password |  Feedback |  Copyright |  Usage Agreement |  Privacy Policy |  Advertising |  About Us |  Contact Us |  FAQ 

Past performance is not indicative of future results

StockSelector.com, the StockSelector.com logo, and News Selects are trademarks of StockSelector.com.
Copyright © 1998 - 2018 StockSelector.com. All rights reserved.