Form 8-K
8-K — WELLS FARGO & COMPANY/MN
Accession: 0000072971-26-000213
Filed: 2026-04-14
Period: 2026-04-14
CIK: 0000072971
SIC: 6021 (NATIONAL COMMERCIAL BANKS)
Item: Results of Operations and Financial Condition
Item: Regulation FD Disclosure
Item: Financial Statements and Exhibits
Documents
8-K — wfc-20260414.htm (Primary)
EX-99.1 — EXHIBIT 99.1 (wfc1qer04-14x26ex991xrelea.htm)
EX-99.2 — EXHIBIT 99.2 (wfc1qer04-14x26ex992xsuppl.htm)
EX-99.3 — EXHIBIT 99.3 (ex993-wellsfargo1q26pres.htm)
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8-K — FORM 8-K
8-K (Primary)
Filename: wfc-20260414.htm · Sequence: 1
wfc-20260414
WELLS FARGO & COMPANY/MN0000072971falseNYSE00000729712026-04-142026-04-140000072971us-gaap:CommonStockMember2026-04-142026-04-140000072971wfc:A7.5NonCumulativePerpetualConvertibleClassAPreferredStockSeriesLMember2026-04-142026-04-140000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesYMember2026-04-142026-04-140000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesZMember2026-04-142026-04-140000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesAAMember2026-04-142026-04-140000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesCCMember2026-04-142026-04-140000072971wfc:NonCumulativePerpetualClassAPreferredStockSeriesDDMember2026-04-142026-04-140000072971wfc:GuaranteeofMediumTermNotesSeriesAdueOctober302028ofWellsFargoFinanceLLCMember2026-04-142026-04-14
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (date of earliest event reported): April 14, 2026
WELLS FARGO & COMPANY
(Exact name of registrant as specified in its charter)
Delaware 001-02979 No. 41-0449260
(State or Other Jurisdiction
of Incorporation) (Commission File
Number) (IRS Employer
Identification No.)
333 Market Street, San Francisco, California 94105
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: 415-371-2921
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
Trading Symbol
Name of Each Exchange
on Which Registered
Common Stock, par value $1-2/3
WFC
New York Stock
Exchange
(NYSE)
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L
WFC.PRL
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y
WFC.PRY
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z
WFC.PRZ
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA
WFC.PRA
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC
WFC.PRC
NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD
WFC.PRD
NYSE
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC
WFC/28A
NYSE
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act (17 CFR 230.405) or Rule 12b-2 of the Exchange Act (17 CFR 240.12b‑2).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 2.02 Results of Operations and Financial Condition.
On April 14, 2026, Wells Fargo & Company (the “Company”) issued a news release regarding its results of operations and financial condition for the quarter ended March 31, 2026, and posted on its website its 1Q26 Quarterly Supplement, which contains certain additional information about the Company’s financial results for the quarter ended March 31, 2026. The news release is included as Exhibit 99.1 and the 1Q26 Quarterly Supplement is included as Exhibit 99.2 to this report, and each is incorporated by reference into this Item 2.02. The information included in Exhibit 99.1 and Exhibit 99.2 is considered to be “filed” for purposes of Section 18 under the Securities Exchange Act of 1934.
Item 7.01 Regulation FD Disclosure.
On April 14, 2026, the Company intends to host a live conference call that will also be available by webcast to discuss the Company’s first quarter 2026 financial results and other matters relating to the Company. In connection therewith, the Company has posted on its website presentation materials containing certain historical and forward-looking information relating to the Company. The presentation materials are included as Exhibit 99.3 to this report and are incorporated by reference into this Item 7.01. Exhibit 99.3 shall not be considered “filed” for purposes of Section 18 under the Securities Exchange Act of 1934 and shall not be deemed to be incorporated by reference into the filings of the Company under the Securities Act of 1933.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description Location
99.1
News Release dated April 14, 2026
Filed herewith
99.2
1Q26 Quarterly Supplement
Filed herewith
99.3
Presentation Materials - 1Q26 Financial Results
Furnished herewith
104 Cover Page Interactive Data File
Embedded within the Inline XBRL document
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
Dated:
April 14, 2026
WELLS FARGO & COMPANY
By: /s/ MUNEERA S. CARR
Muneera S. Carr
Executive Vice President,
Chief Accounting Officer and Controller
EX-99.1 — EXHIBIT 99.1
EX-99.1
Filename: wfc1qer04-14x26ex991xrelea.htm · Sequence: 2
Document
Exhibit 99.1
News Release | April 14, 2026
Wells Fargo Reports First Quarter 2026 Net Income of $5.3 billion, or $1.60 per Diluted Share
Company-wide Financial Summary
Quarter ended
Mar 31,
2026 Mar 31,
2025
Selected Income Statement Data
($ in millions except per share amounts)
Total revenue $ 21,446 20,149
Noninterest expense 14,330 13,891
Provision for credit losses1
1,135 932
Net income 5,253 4,894
Diluted earnings per common share 1.60 1.39
Selected Balance Sheet Data
($ in billions)
Average loans $ 996.0 908.2
Average deposits 1,415.0 1,339.3
CET12
10.3 % 11.1
Performance Metrics
ROE3
12.2 % 11.5
ROTCE4
14.5 13.6
Operating Segments and Other Highlights
Quarter ended Mar 31, 2026
% Change from
($ in billions) Mar 31,
2026 Dec 31,
2025 Mar 31,
2025
Average loans
Consumer Banking and Lending (CBL)5
$ 335.3 1 % 4
Commercial Banking (CB)5
229.1 2 2
Corporate and Investment Banking 342.3 9 23
Wealth and Investment Management 88.4 4 9
Average deposits
Consumer Banking and Lending5
816.6 1 2
Commercial Banking5
185.9 3 2
Corporate and Investment Banking 214.3 — 5
Wealth and Investment Management 112.1 6 10
Capital
◦Repurchased 46.3 million shares, or $4.0 billion, of common stock in first quarter 2026
First quarter 2026 notable item:
◦$135 million, or $0.04 per share, of discrete tax benefits related to the resolution of prior period matters
Chairman and Chief Executive Officer Charlie Scharf commented, “We saw continued positive impacts from the investments we have been making with diluted earnings per share increasing 15%, revenue increasing 6%, loans increasing 11%, and deposits increasing 7% compared to a year ago. Revenue growth was driven by both a 5% increase in net interest income and an 8% increase in noninterest income. Credit performance remained strong with net loan charge-offs stable at 45 basis points. We returned $4 billion to shareholders through common stock repurchases while continuing to operate with significant excess capital.”
“Our consistent focus on investing across all of our businesses helped contribute to broad-based revenue growth, with each of our operating segments increasing revenue from a year ago. Consumer Banking and Lending revenue grew 7% and Commercial Banking grew 7% as well. Within our Corporate and Investment Bank we saw an 11% increase in Banking revenue and a 19% increase in Markets revenue. Wealth and Investment Management grew 14%,” Scharf added.
“In our credit card business, we launched two new cards in the first quarter, and the product enhancements we have made over the past five years drove higher card fees and purchase volume. Auto originations and balances increased, and new consumer checking account openings were higher. We continued to see momentum in our Wealth and Investment Management business with client assets growth of 11% to $2.2 trillion. Strong customer engagement helped to drive higher loan and deposit balances in Commercial Banking. We continued to grow our Investment Banking business, including increasing market share in Equity Capital Markets in the first quarter, and we ended the quarter with a strong investment banking pipeline,” Scharf continued.
“While markets have been volatile, we still see continued resiliency in the underlying economy and the financial health of the consumers and businesses we serve remains strong, though the impact of higher oil prices will likely take some time to materialize. We will continue to monitor trends and respond accordingly, and we are well positioned to support our customers across a range of economic scenarios. We have clear strategic plans in place that are focused on growing returns by using our broad set of capabilities. I am encouraged by the momentum we are seeing and confident in our ability to continue to grow across our businesses,” Scharf concluded.
Endnotes are presented on page 9.
Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.
Selected Company-wide Financial Information
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings ($ in millions except per share amounts)
Net interest income $ 12,096 12,331 11,495 (2) % 5
Noninterest income 9,350 8,961 8,654 4 8
Total revenue 21,446 21,292 20,149 1 6
Net charge-offs 1,106 1,030 1,009 7 10
Change in the allowance for credit losses 29 10 (77) 190 138
Provision for credit losses1
1,135 1,040 932 9 22
Noninterest expense 14,330 13,726 13,891 4 3
Income tax expense
691 1,103 522 (37) 32
Wells Fargo net income $ 5,253 5,361 4,894 (2) 7
Diluted earnings per common share 1.60 1.62 1.39 (1) 15
Balance Sheet Data (average) ($ in billions)
Loans $ 996.0 955.8 908.2 4 10
Deposits 1,415.0 1,377.7 1,339.3 3 6
Assets 2,168.2 2,079.8 1,919.7 4 13
Financial Ratios
Return on assets (ROA) 0.98 % 1.02 1.03
Return on equity (ROE) 12.2 12.3 11.5
Return on average tangible common equity (ROTCE)2
14.5 14.5 13.6
Efficiency ratio3
67 64 69
Net interest margin on a taxable-equivalent basis 2.47 2.60 2.67
First Quarter 2026 vs. First Quarter 2025
◦Net interest income increased 5%, driven by higher deposit balances and lower deposit costs, improved results in our Markets business, higher loan and investment securities balances, and fixed rate asset repricing, partially offset by the impact of lower interest rates on floating rate assets
◦Noninterest income increased 8%. First quarter 2025 included a $263 million gain from the sale of our commercial mortgage servicing business and $149 million of net losses due to a repositioning of the investment securities portfolio. First quarter 2026 included improved results from our venture capital investments and higher asset-based fees primarily in Wealth and Investment Management on higher market valuations, as well as increases in most other fee categories, partially offset by lower lease income related to the sale of our rail car leasing business and lower mortgage banking fees
◦Noninterest expense increased 3%, driven by higher revenue-related compensation expense primarily in Wealth and Investment Management, an increase in advertising expense, and higher technology and equipment expense, partially offset by lower lease and other expense related to the sale of our rail car leasing business and the impact of efficiency initiatives
◦Provision for credit losses in first quarter 2026 included a modest increase in the allowance reflecting higher commercial and industrial and auto loan balances, largely offset by a lower allowance for commercial real estate and credit card loans
◦Income tax expense in first quarter 2026 included $135 million of discrete tax benefits related to the resolution of prior period matters, as well as tax benefits related to the annual vesting of stock-based compensation
Endnotes are presented on page 9.
2
Selected Company-wide Capital and Liquidity Information
Quarter ended
($ in billions) Mar 31,
2026 Dec 31,
2025 Mar 31,
2025
Capital:
Total equity $ 180.3 183.0 182.9
Common stockholders’ equity 163.2 164.7 162.6
Tangible common equity1
137.8 139.2 137.8
Common Equity Tier 1 (CET1) ratio2
10.3 % 10.6 11.1
Total loss absorbing capacity (TLAC) ratio3
23.0 23.2 25.1
Supplementary Leverage Ratio (SLR)4
5.9 6.2 6.8
Liquidity:
Liquidity Coverage Ratio (LCR)5
120 % 119 125
Selected Company-wide Loan Credit Information
Quarter ended
($ in millions) Mar 31,
2026 Dec 31,
2025 Mar 31,
2025
Net loan charge-offs $ 1,100 1,046 1,009
Net loan charge-offs as a % of average total loans (annualized) 0.45 % 0.43 0.45
Total nonaccrual loans $ 8,469 8,201 7,978
As a % of total loans 0.83 % 0.83 0.87
Total nonperforming assets $ 8,768 8,503 8,225
As a % of total loans 0.86 % 0.86 0.90
Allowance for credit losses for loans $ 14,374 14,337 14,552
As a % of total loans 1.41 % 1.45 1.59
First Quarter 2026 vs. Fourth Quarter 2025
◦Commercial net loan charge-offs as a percentage of average loans were 0.24% (annualized), up from 0.22%, driven by higher commercial and industrial net loan charge-offs, partially offset by lower commercial real estate net loan charge-offs. The consumer net loan charge-off rate increased to 0.78% (annualized), up from 0.75%, on seasonally higher credit card net loan charge-offs
◦Nonperforming assets were up $265 million, primarily driven by higher commercial and industrial nonaccrual loans, partially offset by lower commercial real estate nonaccrual loans. Nonperforming assets as a percentage of total loans were 0.86%, stable with fourth quarter 2025
Endnotes are presented on page 9.
3
Operating Segment Performance
Consumer Banking and Lending offers diversified financial products and services for consumers and small businesses. These financial products and services include checking and savings accounts, credit and debit cards, as well as home, auto, personal, and small business lending. We also provide personalized wealth management and financial planning services through our branch channel.
Selected Financial Information1
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings (in millions)
Consumer, Small and Business Banking $ 7,019 7,130 6,451 (2) % 9
Credit Card
1,595 1,600 1,524 — 5
Home Lending 787 807 866 (2) (9)
Auto 295 282 237 5 24
Personal Lending 302 291 305 4 (1)
Total revenue 9,998 10,110 9,383 (1) 7
Provision for credit losses 818 911 739 (10) 11
Noninterest expense 6,589 6,238 6,342 6 4
Net income $ 1,941 2,219 1,732 (13) 12
Average balances (in billions)
Loans $ 335.3 333.0 321.5 1 4
Deposits 816.6 807.6 799.9 1 2
In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.
First Quarter 2026 vs. First Quarter 2025
◦Revenue increased 7%
▪Consumer, Small and Business Banking was up 9% driven by lower deposit pricing, higher deposit and loan balances, including the impact of the third quarter 2025 transfer of certain business customers from the Commercial Banking operating segment, as well as higher deposit-related fees, higher asset-based fees driven by an increase in market valuations, and higher debit card fees on higher volume
▪Credit Card was up 5% reflecting higher net interest income on higher loan balances
▪Home Lending was down 9% due to lower net interest income on lower loan balances and lower mortgage banking fees reflecting lower servicing income
▪Auto was up 24% due to higher loan balances
◦Noninterest expense increased 4% driven by higher advertising expense and higher revenue-related compensation expense, as well as the impact of the third quarter 2025 transfer of certain business customers from the Commercial Banking operating segment, partially offset by the impact of efficiency initiatives
Endnotes are presented on page 9.
4
Commercial Banking provides financial solutions to private, family owned and certain public companies. Products and services include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management.
Selected Financial Information
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings (in millions)
Net interest income
$ 1,988 1,993 1,977 — % 1
Noninterest income
1,132 1,086 948 4 19
Total revenue 3,120 3,079 2,925 1 7
Provision for credit losses 150 105 187 43 (20)
Noninterest expense 1,608 1,443 1,670 11 (4)
Net income $ 1,017 1,142 794 (11) 28
Average balances (in billions)
Loans $ 229.1 224.0 223.8 2 2
Deposits 185.9 181.0 182.9 3 2
In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.
First Quarter 2026 vs. First Quarter 2025
◦Revenue increased 7%
▪Net interest income was up 1% due to higher loan and deposit balances, partially offset by the impact of lower interest rates and the transfer noted above
▪Noninterest income was up 19% driven by higher revenue from tax credit investments and equity investments
◦Noninterest expense decreased 4% due to the impact of the transfer noted above, as well as the impact of efficiency initiatives
5
Corporate and Investment Banking delivers a suite of capital markets, banking, and financial products and services to corporate, commercial real estate, government and institutional clients globally. Products and services include corporate banking, investment banking, treasury management, commercial real estate lending and capital markets, equity and fixed income solutions, as well as sales, trading, and research capabilities.
Selected Financial Information
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings (in millions)
Banking:
Lending $ 700 656 618 7 % 13
Treasury Management and Payments 655 648 618 1 6
Investment Banking 602 457 534 32 13
Total Banking 1,957 1,761 1,770 11 11
Commercial Real Estate 1,146 1,236 1,449 (7) (21)
Markets:
Fixed Income, Currencies, and Commodities (FICC) 1,583 1,164 1,382 36 15
Equities 543 453 448 20 21
Credit Adjustment (CVA/DVA/FVA) and Other 47 (15) (3) 413 NM
Total Markets 2,173 1,602 1,827 36 19
Other 2 17 18 (88) (89)
Total revenue 5,278 4,616 5,064 14 4
Provision for credit losses 175 78 — 124 NM
Noninterest expense 2,692 2,347 2,476 15 9
Net income $ 1,809 1,639 1,941 10 (7)
Average balances (in billions)
Loans $ 342.3 312.9 277.3 9 23
Deposits 214.3 214.5 203.9 — 5
NM – Not meaningful
First Quarter 2026 vs. First Quarter 2025
◦Revenue increased 4%
▪Banking was up 11% driven by higher loan and deposit balances and higher investment banking revenue, partially offset by the impact of lower interest rates
▪Commercial Real Estate was down 21%. First quarter 2025 included a $263 million gain from the sale of our commercial mortgage servicing business. First quarter 2026 included higher revenue in our affordable housing business
▪Markets was up 19% driven by higher revenue across most asset classes
◦Noninterest expense increased 9% driven by higher incentive compensation expense and higher professional and outside services expense, partially offset by the impact of efficiency initiatives
6
Wealth and Investment Management provides personalized wealth management, brokerage, financial planning, lending, trust and fiduciary products and services to affluent, high-net worth and ultra-high-net worth clients. We operate through financial advisors in our brokerage and wealth offices, independent offices, and digitally through WellsTrade® and Intuitive Investor®.
Selected Financial Information
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings (in millions)
Net interest income $ 905 868 730 4 % 24
Noninterest income 2,970 2,953 2,674 1 11
Total revenue 3,875 3,821 3,404 1 14
Provision for credit losses (10) (9) 11 (11) NM
Noninterest expense 3,262 3,074 2,946 6 11
Net income $ 468 565 349 (17) 34
Total Company-wide client assets (in billions)
2,483 2,509 2,233 (1) 11
Average balances (in billions)
Loans $ 88.4 84.9 80.9 4 9
Deposits 112.1 105.5 102.1 6 10
NM – Not meaningful
In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation.
First Quarter 2026 vs. First Quarter 2025
◦Revenue increased 14%
▪Net interest income was up 24% driven by lower deposit pricing and higher deposit and loan balances
▪Noninterest income was up 11% on higher asset-based fees driven by an increase in market valuations
◦Noninterest expense increased 11% due to higher revenue-related compensation expense, partially offset by the impact of efficiency initiatives
7
Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.
Selected Financial Information
Quarter ended Mar 31, 2026
% Change from
Mar 31,
2026 Dec 31,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Earnings (in millions)
Net interest income $ (460) (199) 36 NM NM
Noninterest income 228 388 (213) (41) % 207
Total revenue (232) 189 (177) NM (31)
Provision for credit losses 2 (45) (5) 104 140
Noninterest expense 179 624 457 (71) (61)
Net income (loss)
$ 18 (204) 78 109 (77)
NM – Not meaningful
First Quarter 2026 vs. First Quarter 2025
◦Revenue decreased as first quarter 2026 included lower net interest income due to the impact of lower interest rates on crediting rates to our operating segments and lower lease income related to the sale of our rail car leasing business, partially offset by improved results from our venture capital investments. First quarter 2025 included $149 million of net losses due to a repositioning of the investment securities portfolio
◦Noninterest expense decreased and included lower lease and other expense related to the sale of our rail car leasing business
8
Endnotes
Page 1 – Company-wide Financial Summary / Operating Segments
1.Includes provision for credit losses for loans, debt securities, and other financial assets.
2.Represents our Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 25 of the 1Q26 Quarterly Supplement for more information on CET1. CET1 for March 31, 2026, is a preliminary estimate.
3.Return on equity (ROE) represents Wells Fargo net income applicable to common stock divided by average common stockholders’ equity.
4.Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.
5.In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.
Page 2 – Selected Company-wide Financial Information
1.Includes provision for credit losses for loans, debt securities, and other financial assets.
2.Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.
3.The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).
Page 3 – Selected Company-wide Capital and Liquidity Information
1.Tangible common equity is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23-24 of the 1Q26 Quarterly Supplement.
2.Represents our CET1 ratio calculated under the Standardized Approach, which is our binding CET1 framework. See the table on page 25 of the 1Q26 Quarterly Supplement for more information on CET1. CET1 for March 31, 2026, is a preliminary estimate.
3.Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for March 31, 2026, is a preliminary estimate.
4.SLR for March 31, 2026, is a preliminary estimate.
5.Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for March 31, 2026, is a preliminary estimate.
Page 4 – Operating Segment Performance – Consumer Banking and Lending
1.In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.
Conference Call
The Company will host a live conference call on Tuesday, April 14, at 10:00 a.m. ET. You may listen to the call by dialing 1-888-673-9782 (U.S. and Canada) or 312-470-7126 (International/U.S. Toll) and enter passcode: 8320644#. The call will also be available online at https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and
https://metroconnections-events.com/wf1Qearnings26.
A replay of the conference call will be available from approximately 1:00 p.m. ET on Tuesday, April 14 through
Tuesday, April 28. Please dial 1-800-835-4112 (U.S. and Canada) or 203-369-3829 (International/U.S. Toll) and enter passcode: 5148#. The replay will also be available online at
https://www.wellsfargo.com/about/investor-relations/quarterly-earnings/ and
https://metroconnections-events.com/wf1Qearnings26.
9
Forward-Looking Statements
This document contains forward-looking statements. In addition, we may make forward-looking statements in our other documents filed or furnished with the Securities and Exchange Commission (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 or any of its businesses, including our outlook for future growth; (ii) our expectations regarding noninterest expense and our efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses, our allowance for credit losses, and the economic scenarios considered to develop the allowance; (iv) our expectations regarding net interest income and net interest margin; (v) loan growth or the reduction or mitigation of risk in our loan portfolios; (vi) future capital or liquidity levels, ratios or targets; (vii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (viii) future common stock dividends, common share repurchases and other uses of capital; (ix) our targeted range for return on assets, return on equity, and return on tangible common equity; (x) expectations regarding our effective income tax rate; (xi) the outcome of contingencies, such as legal actions; (xii) sustainability and governance related goals or commitments; 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, declines in commercial real estate prices, U.S. fiscal debt, budget and tax matters, geopolitical matters, trade policies, and any 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;
•current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including rules and regulations relating to bank products and financial services;
•our ability to realize any efficiency ratio or expense 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 interest rate environment or changes in interest rates or in the level or composition of our assets or liabilities on our net interest income and net interest margin;
•significant turbulence or a disruption in the capital or financial markets, which could result in, among other things, a reduction in the availability of funding or increased funding costs, a reduction in our ability to sell or securitize loans, and declines in asset values and/or recognition of impairment of securities held in our debt securities and equity securities portfolios;
•the effect of a fall in stock market prices on our investment banking business and our fee income from our brokerage and wealth management businesses;
•negative effects from instances where customers may have experienced financial harm, including on our legal, operational and compliance costs, our ability to engage in certain business activities or offer certain products or services, our ability to keep and attract customers, our ability to attract and retain qualified employees, and our reputation;
•regulatory matters, including the failure to resolve outstanding matters on a timely basis and the potential impact of new matters, litigation, or other legal actions, which may result in, among other things, additional costs, fines, penalties, restrictions on our business activities, reputational harm, or other adverse consequences;
•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 cyberattacks;
•the effect of technological changes, including artificial intelligence and digital assets, on us, our customers, or our competitive landscape;
•the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;
10
•fiscal and monetary policies of the Federal Reserve Board;
•changes to tax laws, regulations, and guidance as well as the effect of discrete items on our effective income tax rate;
•our ability to develop and execute effective business plans and strategies; 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, 2025.
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, the impact to our balance sheet of expected customer activity, our capital requirements and long-term targeted capital structure, the results of supervisory stress tests, market conditions (including the trading price of our stock), regulatory and legal considerations, including regulatory requirements under the Federal Reserve Board’s capital plan rule, and other factors deemed relevant by the Company, and may be subject to regulatory approval or conditions.
For additional information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the SEC, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2025, as filed with the SEC and available on its website at www.sec.gov1.
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.
Forward-looking Non-GAAP Financial Measures. From time to time we may provide forward-looking non-GAAP financial measures, such as forward-looking estimates or targets for return on average tangible common equity or for net interest income excluding Markets. We are unable to provide a reconciliation of forward-looking non-GAAP financial measures to their most directly comparable GAAP financial measures because we are unable to provide, without unreasonable effort, a meaningful or accurate calculation or estimation of amounts that would be necessary for the reconciliation due to the complexity and inherent difficulty in forecasting and quantifying future amounts or when they may occur. Such unavailable information could be significant to future results.
1 We do not control this website. Wells Fargo has provided this link for your convenience, but does not endorse and is not responsible for the content, links, privacy policy, or security policy of this website.
11
About Wells Fargo
Wells Fargo & Company (NYSE: WFC) is a leading financial services company that has approximately $2.2 trillion in assets. We provide a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, through our four reportable operating segments: Consumer Banking and Lending, Commercial Banking, Corporate and Investment Banking, and Wealth & Investment Management. Wells Fargo ranked No. 33 on Fortune’s 2025 rankings of America’s largest corporations.
Contact Information
Media
Beth Richek, 980-308-1568
beth.richek@wellsfargo.com
or
Investor Relations
John M. Campbell, 415-396-0523
john.m.campbell@wellsfargo.com
12
EX-99.2 — EXHIBIT 99.2
EX-99.2
Filename: wfc1qer04-14x26ex992xsuppl.htm · Sequence: 3
Document
Exhibit 99.2
1Q26 Quarterly Supplement
Wells Fargo & Company and Subsidiaries
QUARTERLY FINANCIAL DATA
TABLE OF CONTENTS
Page
Consolidated Results
Summary Financial Data
3
Consolidated Statement of Income
5
Consolidated Balance Sheet
6
Average Balances and Interest Rates (Taxable-Equivalent Basis)
7
Reportable Operating Segment Results
Combined Segment Results
8
Consumer Banking and Lending
9
Commercial Banking
11
Corporate and Investment Banking
13
Wealth and Investment Management
15
Corporate
16
Credit-Related Information
Consolidated Loans Outstanding – Period-End Balances, Average Balances, and Average Interest Rates
17
Net Loan Charge-offs
18
Changes in Allowance for Credit Losses for Loans
19
Allocation of the Allowance for Credit Losses for Loans
20
Nonperforming Assets (Nonaccrual Loans and Foreclosed Assets)
21
Commercial Loan Portfolio – Commercial and Industrial Loans and Lease Financing by Industry and Commercial Real Estate Loans by Property Type
22
Other
Tangible Common Equity
23
Risk-Based Capital Ratios Under Basel III
25
Net Interest Income Excluding Markets
26
Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.
Wells Fargo & Company and Subsidiaries
SUMMARY FINANCIAL DATA
Quarter ended Mar 31, 2026
% Change from
(in millions, except ratios and per share amounts) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Selected Income Statement Data
Total revenue $ 21,446 21,292 21,436 20,822 20,149 1 % 6
Noninterest expense 14,330 13,726 13,846 13,379 13,891 4 3
Pre-tax pre-provision profit (PTPP) (1) 7,116 7,566 7,590 7,443 6,258 (6) 14
Provision for credit losses (2) 1,135 1,040 681 1,005 932 9 22
Wells Fargo net income 5,253 5,361 5,589 5,494 4,894 (2) 7
Wells Fargo net income applicable to common stock 5,000 5,114 5,341 5,214 4,616 (2) 8
Common Share Data
Diluted earnings per common share 1.60 1.62 1.66 1.60 1.39 (1) 15
Dividends declared per common share
0.45 0.45 0.45 0.40 0.40 — 13
Common shares outstanding 3,064.3 3,092.6 3,148.9 3,220.4 3,261.7 (1) (6)
Average common shares outstanding 3,080.0 3,113.8 3,182.2 3,232.7 3,280.4 (1) (6)
Diluted average common shares outstanding 3,117.7 3,159.0 3,223.5 3,267.0 3,321.6 (1) (6)
Book value per common share (3) $ 53.25 53.24 52.30 51.13 49.86 — 7
Tangible book value per common share (3)(4)
44.98 45.02 44.18 43.18 42.24 — 6
Selected Equity Data (period-end)
Total equity 180,313 183,038 183,012 182,954 182,906 (1) (1)
Common stockholders' equity 163,188 164,651 164,687 164,644 162,627 (1) —
Tangible common equity (4)
137,817 139,219 139,119 139,057 137,776 (1) —
Performance Ratios
Return on average assets (ROA) (5) 0.98 % 1.02 1.10 1.14 1.03
Return on average equity (ROE) (6) 12.2 12.3 12.8 12.8 11.5
Return on average tangible common equity (ROTCE) (4)
14.5 14.5 15.2 15.2 13.6
Efficiency ratio (7)
67 64 65 64 69
Net interest margin on a taxable-equivalent basis 2.47 2.60 2.61 2.68 2.67
Average deposit cost 1.43 1.44 1.54 1.52 1.58
(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)Includes provision for credit losses for loans, debt securities, and other financial assets.
(3)Book value per common share is common stockholders' equity divided by common shares outstanding. Tangible book value per common share is tangible common equity divided by common shares outstanding.
(4)Tangible common equity, tangible book value per common share, and return on average tangible common equity are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on pages 23 and 24.
(5)Represents Wells Fargo net income divided by average assets.
(6)Represents Wells Fargo net income applicable to common stock divided by average common stockholders’ equity.
(7)The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income).
-3-
Wells Fargo & Company and Subsidiaries
SUMMARY FINANCIAL DATA (continued)
Quarter ended Mar 31, 2026
% Change from
($ in millions, unless otherwise noted) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Selected Balance Sheet Data (average)
Loans $ 996,025 955,849 928,677 916,719 908,182 4 % 10
Assets 2,168,224 2,079,777 2,010,200 1,933,371 1,919,661 4 13
Deposits 1,415,034 1,377,718 1,339,939 1,331,651 1,339,328 3 6
Selected Balance Sheet Data (period-end)
Available-for-sale and held-to-maturity debt securities
426,953 421,596 420,914 406,362 403,456 1 6
Loans 1,016,787 986,167 943,102 924,418 913,842 3 11
Allowance for credit losses for loans 14,374 14,337 14,311 14,568 14,552 — (1)
Assets 2,205,752 2,148,631 2,062,926 1,981,269 1,950,311 3 13
Deposits 1,454,939 1,426,207 1,367,361 1,340,703 1,361,728 2 7
Headcount (#) (period-end) 200,999 205,198 210,821 212,804 215,367 (2) (7)
Capital and other metrics (1)
Risk-based capital ratios and components (2):
Standardized Approach:
Common Equity Tier 1 (CET1) 10.3 % 10.6 11.0 11.1 11.1
Tier 1 capital 11.4 11.9 12.3 12.5 12.6
Total capital 13.8 14.3 14.8 15.0 15.2
Risk-weighted assets (RWAs) (in billions) $ 1,315.6 1,294.6 1,242.4 1,225.9 1,222.0 2 8
Advanced Approach:
Common Equity Tier 1 (CET1) 12.0 % 12.4 12.7 12.7 12.7
Tier 1 capital 13.4 13.8 14.3 14.3 14.5
Total capital 15.3 15.7 16.2 16.2 16.5
Risk-weighted assets (RWAs) (in billions) $ 1,124.5 1,112.5 1,072.2 1,070.4 1,063.6 1 6
Tier 1 leverage ratio
7.0 % 7.5 7.7 8.0 8.1
Supplementary Leverage Ratio (SLR)
5.9 6.2 6.4 6.7 6.8
Total Loss Absorbing Capacity (TLAC) Ratio (3)
23.0 23.2 24.6 24.4 25.1
Liquidity Coverage Ratio (LCR) (4)
120 119 121 121 125
(1)Ratios and metrics for March 31, 2026, are preliminary estimates.
(2)See the table on page 25 for more information on CET1, Tier 1 capital, and total capital.
(3)Represents TLAC divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches.
(4)Represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule.
-4-
Wells Fargo & Company and Subsidiaries
CONSOLIDATED STATEMENT OF INCOME
Quarter ended Mar 31, 2026
% Change from
(in millions, except per share amounts) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Interest income $ 22,445 22,602 22,419 21,320 20,973 (1) % 7
Interest expense 10,349 10,271 10,469 9,612 9,478 1 9
Net interest income 12,096 12,331 11,950 11,708 11,495 (2) 5
Noninterest income
Deposit-related fees 1,319 1,291 1,290 1,249 1,269 2 4
Lending-related fees 393 393 384 373 364 — 8
Investment advisory and other asset-based fees 2,824 2,803 2,660 2,499 2,536 1 11
Commissions and brokerage services fees 667 657 651 610 638 2 5
Investment banking fees 796 716 840 696 775 11 3
Card fees (1)
1,138 1,149 1,223 1,173 1,044 (1) 9
Mortgage banking 201 322 268 230 332 (38) (39)
Net gains from trading activities
1,351 979 1,408 1,376 1,384 38 (2)
Net gains (losses) from debt securities
— 3 — — (147) (100) 100
Net gains (losses) from equity securities
172 319 149 119 (343) (46) 150
Other
489 329 613 789 802 49 (39)
Total noninterest income 9,350 8,961 9,486 9,114 8,654 4 8
Total revenue 21,446 21,292 21,436 20,822 20,149 1 6
Provision for credit losses (2)
1,135 1,040 681 1,005 932 9 22
Noninterest expense
Personnel 9,593 9,077 9,021 8,709 9,474 6 1
Technology, telecommunications and equipment 1,397 1,374 1,319 1,287 1,223 2 14
Occupancy 778 840 784 766 761 (7) 2
Professional and outside services 1,066 1,236 1,177 1,089 1,038 (14) 3
Advertising and promotion 369 352 295 266 181 5 104
Other
1,127 847 1,250 1,262 1,214 33 (7)
Total noninterest expense 14,330 13,726 13,846 13,379 13,891 4 3
Income before income tax expense
5,981 6,526 6,909 6,438 5,326 (8) 12
Income tax expense
691 1,103 1,300 916 522 (37) 32
Net income before noncontrolling interests 5,290 5,423 5,609 5,522 4,804 (2) 10
Less: Net income (loss) from noncontrolling interests
37 62 20 28 (90) (40) 141
Wells Fargo net income $ 5,253 5,361 5,589 5,494 4,894 (2) % 7
Less: Preferred stock dividends and other 253 247 248 280 278 2 (9)
Wells Fargo net income applicable to common stock $ 5,000 5,114 5,341 5,214 4,616 (2) % 8
Per share information
Earnings per common share $ 1.62 1.64 1.68 1.61 1.41 (1) % 15
Diluted earnings per common share 1.60 1.62 1.66 1.60 1.39 (1) 15
(1)In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.
(2)Includes provision for credit losses for loans, debt securities, and other financial assets.
-5-
Wells Fargo & Company and Subsidiaries
CONSOLIDATED BALANCE SHEET
Mar 31, 2026
% Change from
(in millions, except shares)
Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Assets
Cash and due from banks $ 33,543 39,182 34,801 35,081 35,256 (14) % (5)
Interest-earning deposits with banks 141,241 135,028 139,524 159,480 142,309 5 (1)
Federal funds sold and securities borrowed or purchased under resale agreements
215,599 193,929 154,576 104,815 126,830 11 70
Trading assets
221,711 227,935 225,624 192,933 179,707 (3) 23
Available-for-sale debt securities
222,873 213,573 206,682 184,869 176,229 4 26
Held-to-maturity debt securities
204,080 208,023 214,232 221,493 227,227 (2) (10)
Loans 1,016,787 986,167 943,102 924,418 913,842 3 11
Allowance for loan losses (13,864) (13,797) (13,744) (13,961) (14,029) — 1
Net loans 1,002,923 972,370 929,358 910,457 899,813 3 11
Premises and equipment, net 11,499 11,395 11,040 10,768 10,357 1 11
Goodwill 24,965 24,967 25,069 25,071 25,066 — —
Equity securities
41,126 40,932 39,267 39,051 40,281 — 2
Other assets
86,192 81,297 82,753 97,251 87,236 6 (1)
Total assets $ 2,205,752 2,148,631 2,062,926 1,981,269 1,950,311 3 13
Liabilities
Noninterest-bearing deposits $ 365,712 365,368 366,814 370,844 377,443 — (3)
Interest-bearing deposits 1,089,227 1,060,839 1,000,547 969,859 984,285 3 11
Total deposits 1,454,939 1,426,207 1,367,361 1,340,703 1,361,728 2 7
Federal funds purchased and securities loaned or sold under repurchase agreements
234,371 232,687 202,274 161,618 124,825 1 88
Short-term borrowings
32,282 18,323 16,449 13,361 2,324 76 NM
Trading liabilities
53,647 45,468 45,258 43,531 44,878 18 20
Accrued expenses and other liabilities
66,259 68,196 70,799 62,865 59,990 (3) 10
Long-term debt
183,941 174,712 177,773 176,237 173,660 5 6
Total liabilities 2,025,439 1,965,593 1,879,914 1,798,315 1,767,405 3 15
Equity
Wells Fargo stockholders’ equity:
Preferred stock 15,348 16,608 16,608 16,608 18,608 (8) (18)
Common stock – $1-2/3 par value, authorized 9,000,000,000 shares; issued 5,481,811,474 shares
9,136 9,136 9,136 9,136 9,136 — —
Additional paid-in capital 60,852 61,288 61,016 60,669 60,275 (1) 1
Retained earnings 232,459 228,873 225,189 221,308 217,405 2 7
Accumulated other comprehensive loss (7,922) (6,673) (7,647) (9,366) (9,998) (19) 21
Treasury stock (1)
(131,477) (128,115) (123,148) (117,244) (114,336) (3) (15)
Total Wells Fargo stockholders’ equity 178,396 181,117 181,154 181,111 181,090 (2) (1)
Noncontrolling interests 1,917 1,921 1,858 1,843 1,816 — 6
Total equity 180,313 183,038 183,012 182,954 182,906 (1) (1)
Total liabilities and equity $ 2,205,752 2,148,631 2,062,926 1,981,269 1,950,311 3 13
NM – Not meaningful
(1)Number of shares of treasury stock were 2,417,471,421, 2,389,192,624, 2,332,874,793, 2,261,443,304, and 2,220,135,208 at March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively.
-6-
Wells Fargo & Company and Subsidiaries
AVERAGE BALANCES AND INTEREST RATES (TAXABLE-EQUIVALENT BASIS) (1)
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2025 Mar 31, 2025
Average Balances
Assets
Interest-earning deposits with banks $ 152,119 144,428 158,704 137,136 150,855 5 % 1
Federal funds sold and securities borrowed or purchased under resale agreements
192,250 159,759 120,900 105,987 101,175 20 90
Trading assets
192,209 183,706 172,409 157,704 156,417 5 23
Available-for-sale debt securities 217,181 212,487 200,309 187,390 175,550 2 24
Held-to-maturity debt securities 209,089 213,545 221,447 227,525 233,952 (2) (11)
Loans 996,025 955,849 928,677 916,719 908,182 4 10
Equity securities
13,123 11,712 12,450 12,039 12,084 12 9
Other interest-earning assets
15,321 17,809 17,614 17,660 14,102 (14) 9
Total interest-earning assets 1,987,317 1,899,295 1,832,510 1,762,160 1,752,317 5 13
Total noninterest-earning assets 180,907 180,482 177,690 171,211 167,344 — 8
Total assets $ 2,168,224 2,079,777 2,010,200 1,933,371 1,919,661 4 13
Liabilities
Interest-bearing deposits $ 1,064,033 1,020,494 984,197 970,684 972,927 4 9
Federal funds purchased and securities loaned or sold under repurchase agreements
242,429 215,871 182,636 130,388 115,503 12 110
Short-term borrowings
29,397 10,869 17,936 6,455 2,459 170 NM
Trading liabilities
35,831 35,702 33,086 30,937 30,561 — 17
Long-term debt 181,875 177,130 175,944 175,289 173,052 3 5
Other interest-bearing liabilities
20,498 19,619 20,382 20,906 18,618 4 10
Total interest-bearing liabilities 1,574,063 1,479,685 1,414,181 1,334,659 1,313,120 6 20
Noninterest-bearing deposits
351,001 357,224 355,742 360,967 366,401 (2) (4)
Other noninterest-bearing liabilities 59,467 59,024 56,849 54,477 56,782 1 5
Total liabilities 1,984,531 1,895,933 1,826,772 1,750,103 1,736,303 5 14
Total equity 183,693 183,844 183,428 183,268 183,358 — —
Total liabilities and equity $ 2,168,224 2,079,777 2,010,200 1,933,371 1,919,661 4 13
Average Interest Rates
Interest-earning assets
Interest-earning deposits with banks 3.38 % 3.65 4.01 3.96 3.96
Federal funds sold and securities borrowed or purchased under resale agreements
3.67 3.95 4.22 4.19 4.26
Trading assets
3.89 4.11 3.97 4.02 3.91
Available-for-sale debt securities 4.44 4.60 4.66 4.62 4.48
Held-to-maturity debt securities 2.27 2.27 2.32 2.35 2.41
Loans 5.62 5.78 5.97 5.95 5.96
Equity securities
2.79 2.64 2.22 2.19 2.62
Other interest-earning assets
3.55 4.78 5.61 4.24 4.59
Total interest-earning assets 4.58 4.75 4.88 4.87 4.85
Interest-bearing liabilities
Interest-bearing deposits 1.90 1.94 2.09 2.09 2.17
Federal funds purchased and securities loaned or sold under repurchase agreements
3.74 4.05 4.39 4.40 4.40
Short-term borrowings
4.04 4.47 4.68 5.04 5.48
Trading liabilities
3.15 3.23 3.20 3.19 3.17
Long-term debt 5.25 5.61 5.89 5.95 5.97
Other interest-bearing liabilities
3.60 3.61 3.75 3.61 3.52
Total interest-bearing liabilities 2.66 2.76 2.94 2.89 2.92
Interest rate spread on a taxable-equivalent basis (2)
1.92 1.99 1.94 1.98 1.93
Net interest margin on a taxable-equivalent basis (2)
2.47 2.60 2.61 2.68 2.67
NM – Not meaningful
(1)The average balance amounts represent amortized costs. The average interest rates are based on interest income or expense amounts for the period and are annualized, if applicable. Interest rates include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(2)Includes taxable-equivalent adjustments of $72 million, $74 million, $75 million, $77 million, and $77 million for the quarters ended March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively, predominantly related to tax-exempt income on certain loans and securities. The federal statutory tax rate utilized was 21% for the periods presented.
-7-
Wells Fargo & Company and Subsidiaries
COMBINED SEGMENT RESULTS (1)
Quarter ended March 31, 2026
(in millions) Consumer Banking and Lending Commercial Banking Corporate and Investment Banking Wealth and Investment Management Corporate (2) Reconciling Items (3) Consolidated
Company
Net interest income $ 7,551 1,988 2,184 905 (460) (72) 12,096
Noninterest income 2,447 1,132 3,094 2,970 228 (521) 9,350
Total revenue 9,998 3,120 5,278 3,875 (232) (593) 21,446
Provision for credit losses 818 150 175 (10) 2 — 1,135
Noninterest expense 6,589 1,608 2,692 3,262 179 — 14,330
Income (loss) before income tax expense (benefit) 2,591 1,362 2,411 623 (413) (593) 5,981
Income tax expense (benefit) 650 343 602 155 (466) (593) 691
Net income before noncontrolling interests
1,941 1,019 1,809 468 53 — 5,290
Less: Net income from noncontrolling interests
— 2 — — 35 — 37
Net income
$ 1,941 1,017 1,809 468 18 — 5,253
Quarter ended December 31, 2025
Net interest income $ 7,661 1,993 2,082 868 (199) (74) 12,331
Noninterest income 2,449 1,086 2,534 2,953 388 (449) 8,961
Total revenue 10,110 3,079 4,616 3,821 189 (523) 21,292
Provision for credit losses 911 105 78 (9) (45) — 1,040
Noninterest expense 6,238 1,443 2,347 3,074 624 — 13,726
Income (loss) before income tax expense (benefit) 2,961 1,531 2,191 756 (390) (523) 6,526
Income tax expense (benefit) 742 387 552 191 (246) (523) 1,103
Net income (loss) before noncontrolling interests
2,219 1,144 1,639 565 (144) — 5,423
Less: Net income from noncontrolling interests
— 2 — — 60 — 62
Net income (loss)
$ 2,219 1,142 1,639 565 (204) — 5,361
Quarter ended March 31, 2025
Net interest income $ 7,039 1,977 1,790 730 36 (77) 11,495
Noninterest income 2,344 948 3,274 2,674 (213) (373) 8,654
Total revenue 9,383 2,925 5,064 3,404 (177) (450) 20,149
Provision for credit losses 739 187 — 11 (5) — 932
Noninterest expense 6,342 1,670 2,476 2,946 457 — 13,891
Income (loss) before income tax expense (benefit) 2,302 1,068 2,588 447 (629) (450) 5,326
Income tax expense (benefit) 570 272 647 98 (615) (450) 522
Net income (loss) before noncontrolling interests
1,732 796 1,941 349 (14) — 4,804
Less: Net income (loss) from noncontrolling interests
— 2 — — (92) — (90)
Net income
$ 1,732 794 1,941 349 78 — 4,894
(1)The management reporting process is based on U.S. GAAP and includes specific adjustments, such as for funds transfer pricing for asset/liability management, shared revenues and expenses, and taxable-equivalent adjustments to consistently reflect income from taxable and tax-exempt sources, which allows management to assess performance across the operating segments. We define our operating segments by type of product and customer segment.
(2)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.
(3)Taxable-equivalent adjustments related to tax-exempt income on certain loans and debt securities are included in net interest income, while taxable-equivalent adjustments related to income tax credits for affordable housing and renewable energy investments are included in noninterest income, in each case with corresponding impacts to income tax expense (benefit). Adjustments are included in Corporate, Commercial Banking, and Corporate and Investment Banking and are eliminated to reconcile to the Company’s consolidated financial results.
-8-
Wells Fargo & Company and Subsidiaries
CONSUMER BANKING AND LENDING SEGMENT (1)
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Income Statement
Net interest income $ 7,551 7,661 7,628 7,305 7,039 (1) % 7
Noninterest income:
Deposit-related fees
720 693 698 653 651 4 11
Investment advisory and other asset-based fees 264 253 249 232 240 4 10
Commissions and brokerage services fees 115 118 133 111 113 (3) 2
Card fees (2)
1,064 1,088 1,162 1,109 978 (2) 9
Mortgage banking
163 179 199 169 222 (9) (27)
Other 121 118 103 109 140 3 (14)
Total noninterest income
2,447 2,449 2,544 2,383 2,344 — 4
Total revenue 9,998 10,110 10,172 9,688 9,383 (1) 7
Net charge-offs 820 775 766 818 877 6 (6)
Change in the allowance for credit losses (2) 136 1 127 (138) NM 99
Provision for credit losses 818 911 767 945 739 (10) 11
Noninterest expense 6,589 6,238 6,376 6,179 6,342 6 4
Income before income tax expense 2,591 2,961 3,029 2,564 2,302 (12) 13
Income tax expense 650 742 759 641 570 (12) 14
Net income $ 1,941 2,219 2,270 1,923 1,732 (13) 12
Revenue by Line of Business
Consumer, Small and Business Banking $ 7,019 7,130 7,089 6,748 6,451 (2) 9
Credit Card
1,595 1,600 1,663 1,588 1,524 — 5
Home Lending 787 807 870 821 866 (2) (9)
Auto 295 282 256 241 237 5 24
Personal Lending 302 291 294 290 305 4 (1)
Total revenue $ 9,998 10,110 10,172 9,688 9,383 (1) 7
Selected Balance Sheet Data (average)
Loans by Line of Business:
Consumer, Small and Business Banking (3)
$ 17,399 17,201 17,520 9,513 9,448 1 84
Credit Card 53,041 52,898 51,121 49,947 50,109 — 6
Home Lending 198,493 200,226 201,803 203,556 205,507 (1) (3)
Auto 52,567 48,699 44,775 42,366 42,498 8 24
Personal Lending 13,765 13,977 13,880 13,651 13,902 (2) (1)
Total loans $ 335,265 333,001 329,099 319,033 321,464 1 4
Total deposits (3)
816,621 807,643 808,942 805,537 799,882 1 2
Allocated capital (4)
33,000 45,500 45,500 45,500 45,500 (27) (27)
Selected Balance Sheet Data (period-end)
Loans by Line of Business:
Consumer, Small and Business Banking (3)
$ 17,891 17,203 17,755 9,696 9,633 4 86
Credit Card 52,266 54,059 51,572 50,084 49,518 (3) 6
Home Lending 198,516 199,742 201,345 203,062 204,656 (1) (3)
Auto 54,279 50,954 46,524 43,373 41,999 7 29
Personal Lending 13,608 14,052 13,984 13,790 13,656 (3) —
Total loans $ 336,560 336,010 331,180 320,005 319,462 — 5
Total deposits (3)
840,556 821,100 810,992 806,572 821,261 2 2
NM – Not meaningful
(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.
(2)In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income.
(3)In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.
(4)In first quarter 2026, we updated our assumptions and methodologies used to allocate capital as part of our periodic assessments.
-9-
Wells Fargo & Company and Subsidiaries
CONSUMER BANKING AND LENDING SEGMENT (continued)
Quarter ended Mar 31, 2026
% Change from
($ in millions, unless otherwise noted) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Selected Metrics
Consumer Banking and Lending:
Return on allocated capital (1)(2)
23.1 % 18.8 19.2 16.4 14.9
Efficiency ratio (1)(3)
66 62 63 64 68
Retail bank branches (#, period-end) 4,093 4,090 4,108 4,135 4,155 — % (1)
Digital active customers (# in millions, period-end) (4)
38.1 37.2 37.0 36.6 36.7 2 4
Mobile active customers (# in millions, period-end) (4)
33.5 32.8 32.5 32.1 31.8 2 5
Consumer, Small and Business Banking:
Deposit spread (1)(5)
2.58 % 2.60 2.59 2.53 2.44
Debit card purchase volume ($ in billions) (6)
$ 134.3 137.3 133.6 133.6 126.0 (2) 7
Debit card purchase transactions (# in millions) (6)
2,582 2,696 2,674 2,655 2,486 (4) 4
Client assets in advisory and brokerage accounts ($ in billions, period-end) (7) $ 261 265 262 249 237 (2) 10
Home Lending:
Mortgage loan originations ($ in billions) $ 6.3 7.5 7.0 7.4 4.4 (16) 43
% of originations held for sale (HFS) 24.4 % 21.9 31.0 34.0 38.2
Third party mortgage loans serviced ($ in billions, period-end) (8)
$ 386.6 397.0 433.8 455.5 471.1 (3) (18)
Home lending loans 30+ days delinquency rate (period-end) (9)(10)(11)
0.30 % 0.31 0.32 0.30 0.29
Credit Card (6)(12):
Credit card purchase volume ($ in billions)
$ 40.0 42.2 40.3 39.9 36.7 (5) 9
Credit card new accounts (# in thousands) 631 710 707 452 396 (11) 59
Credit card loans 30+ days delinquency rate (period-end) (10)(11)
2.77 % 2.78 2.68 2.63 2.81
Credit card loans 90+ days delinquency rate (period-end) (10)(11)
1.45 1.42 1.34 1.32 1.45
Auto:
Auto loan originations ($ in billions) $ 9.7 10.2 8.8 6.9 4.6 (5) 111
Auto loans 30+ days delinquency rate (period-end) (10)(11)
1.26 % 1.52 1.54 1.72 1.87
(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation.
(2)Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends.
(3)Efficiency ratio is segment noninterest expense divided by segment total revenue (net interest income and noninterest income).
(4)Digital and mobile active customers is the number of consumer and small business customers who have logged on via a digital or mobile device, respectively, in the prior 90 days. Digital active customers includes both online and mobile customers.
(5)Deposit spread is (i) the internal funds transfer pricing credit on segment deposits minus interest paid to customers for segment deposits, divided by (ii) average segment deposits.
(6)Reflects combined activity for consumer and small business customers.
(7)In first quarter 2026, we moved the client assets, including advisory and other brokerage assets and deposits, associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been included to conform with the current period presentation.
(8)Excludes residential mortgage loans subserviced for others.
(9)Excludes residential mortgage loans that are insured or guaranteed by U.S. government agencies.
(10)Excludes loans held for sale.
(11)Delinquency balances exclude nonaccrual loans.
(12)In first quarter 2026, credit card metrics were revised to exclude co-branded cards. Prior period balances have been revised to conform with the current period presentation.
-10-
Wells Fargo & Company and Subsidiaries
COMMERCIAL BANKING SEGMENT
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Income Statement
Net interest income $ 1,988 1,993 1,949 1,983 1,977 — % 1
Noninterest income:
Deposit-related fees 319 320 311 324 335 — (5)
Lending-related fees 150 147 144 138 136 2 10
Lease income 121 115 119 116 123 5 (2)
Other 542 504 518 372 354 8 53
Total noninterest income 1,132 1,086 1,092 950 948 4 19
Total revenue 3,120 3,079 3,041 2,933 2,925 1 7
Net charge-offs 58 96 83 98 41 (40) 41
Change in the allowance for credit losses 92 9 (44) (141) 146 922 (37)
Provision for credit losses 150 105 39 (43) 187 43 (20)
Noninterest expense 1,608 1,443 1,445 1,519 1,670 11 (4)
Income before income tax expense 1,362 1,531 1,557 1,457 1,068 (11) 28
Income tax expense 343 387 393 369 272 (11) 26
Less: Net income from noncontrolling interests 2 2 2 2 2 — —
Net income $ 1,017 1,142 1,162 1,086 794 (11) 28
Revenue by Product
Lending and leasing $ 1,250 1,254 1,251 1,262 1,267 — (1)
Treasury management and payments 1,304 1,284 1,206 1,250 1,260 2 3
Other 566 541 584 421 398 5 42
Total revenue $ 3,120 3,079 3,041 2,933 2,925 1 7
Selected Metrics
Return on allocated capital 15.0 % 16.5 16.8 15.8 11.4
Efficiency ratio 52 47 48 52 57
-11-
Wells Fargo & Company and Subsidiaries
COMMERCIAL BANKING SEGMENT (continued)
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial
$ 174,308 170,565 166,946 167,134 164,113 2 % 6
Commercial real estate
39,481 38,405 37,605 44,373 44,598 3 (11)
Lease financing and other 15,271 15,046 14,805 14,954 15,093 1 1
Total loans (1)
$ 229,060 224,016 219,356 226,461 223,804 2 2
Total deposits (1)
185,897 180,989 171,976 177,994 182,859 3 2
Allocated capital 26,000 26,000 26,000 26,000 26,000 — —
Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial
$ 181,173 173,931 170,031 169,958 168,369 4 8
Commercial real estate
40,029 39,227 38,030 44,484 44,788 2 (11)
Lease financing and other 15,375 15,469 15,174 15,102 15,109 (1) 2
Total loans (1)
$ 236,577 228,627 223,235 229,544 228,266 3 4
Total deposits (1)
189,802 190,004 176,954 179,848 181,469 — 5
(1)In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment.
-12-
Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Income Statement
Net interest income $ 2,184 2,082 1,870 1,815 1,790 5 % 22
Noninterest income:
Deposit-related fees 274 272 273 266 275 1 —
Lending-related fees 217 220 214 209 201 (1) 8
Investment banking fees 844 694 826 700 765 22 10
Net gains from trading activities
1,382 927 1,367 1,335 1,358 49 2
Other
377 421 329 348 675 (10) (44)
Total noninterest income 3,094 2,534 3,009 2,858 3,274 22 (5)
Total revenue 5,278 4,616 4,879 4,673 5,064 14 4
Net charge-offs 224 182 96 75 97 23 131
Change in the allowance for credit losses (49) (104) (203) 28 (97) 53 49
Provision for credit losses 175 78 (107) 103 — 124 NM
Noninterest expense 2,692 2,347 2,362 2,251 2,476 15 9
Income before income tax expense 2,411 2,191 2,624 2,319 2,588 10 (7)
Income tax expense 602 552 658 582 647 9 (7)
Net income $ 1,809 1,639 1,966 1,737 1,941 10 (7)
Revenue by Line of Business
Banking:
Lending $ 700 656 647 601 618 7 13
Treasury Management and Payments 655 648 630 611 618 1 6
Investment Banking 602 457 554 463 534 32 13
Total Banking 1,957 1,761 1,831 1,675 1,770 11 11
Commercial Real Estate 1,146 1,236 1,186 1,212 1,449 (7) (21)
Markets:
Fixed Income, Currencies, and Commodities (FICC) 1,583 1,164 1,355 1,391 1,382 36 15
Equities 543 453 450 387 448 20 21
Credit Adjustment (CVA/DVA/FVA) and Other
47 (15) 48 1 (3) 413 NM
Total Markets 2,173 1,602 1,853 1,779 1,827 36 19
Other 2 17 9 7 18 (88) (89)
Total revenue $ 5,278 4,616 4,879 4,673 5,064 14 4
Selected Metrics
Return on allocated capital 14.9 % 13.8 16.8 14.9 17.0
Efficiency ratio 51 51 48 48 49
NM – Not meaningful
-13-
Wells Fargo & Company and Subsidiaries
CORPORATE AND INVESTMENT BANKING SEGMENT (continued)
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Selected Balance Sheet Data (average)
Loans:
Commercial and industrial $ 262,181 233,429 214,774 202,473 192,654 12 % 36
Commercial real estate 80,134 79,437 81,121 83,413 84,633 1 (5)
Total loans $ 342,315 312,866 295,895 285,886 277,287 9 23
Loans by Line of Business:
Banking $ 117,741 100,961 92,787 88,994 86,528 17 36
Commercial Real Estate 119,452 116,584 117,115 117,917 117,318 2 2
Markets 105,122 95,321 85,993 78,975 73,441 10 43
Total loans $ 342,315 312,866 295,895 285,886 277,287 9 23
Trading-related assets:
Trading assets, excluding derivative assets
$ 205,653 197,928 177,045 158,449 159,548 4 29
Derivative assets 22,375 22,392 22,682 23,404 19,688 — 14
Reverse repurchase agreements/securities borrowed 169,870 144,040 115,868 101,894 97,171 18 75
Total trading-related assets
$ 397,898 364,360 315,595 283,747 276,407 9 44
Total assets 801,973 735,281 679,877 641,499 611,037 9 31
Total deposits 214,345 214,520 204,056 202,420 203,914 — 5
Allocated capital (1)
46,500 44,000 44,000 44,000 44,000 6 6
Selected Balance Sheet Data (period-end)
Loans:
Commercial and industrial $ 272,820 253,004 224,462 208,161 197,142 8 38
Commercial real estate 80,331 80,505 79,518 82,417 83,522 — (4)
Total loans $ 353,151 333,509 303,980 290,578 280,664 6 26
Loans by Line of Business:
Banking $ 124,115 111,260 95,215 90,999 88,239 12 41
Commercial Real Estate 119,402 118,516 116,314 117,233 116,051 1 3
Markets 109,634 103,733 92,451 82,346 76,374 6 44
Total loans $ 353,151 333,509 303,980 290,578 280,664 6 26
Trading-related assets:
Trading assets, excluding derivative assets
$ 198,601 205,356 202,471 168,029 160,166 (3) 24
Derivative assets 23,221 22,474 22,574 24,700 18,883 3 23
Reverse repurchase agreements/securities borrowed 166,833 170,661 130,196 100,268 122,875 (2) 36
Total trading-related assets
$ 388,655 398,491 355,241 292,997 301,924 (2) 29
Total assets 805,350 787,751 715,683 658,029 632,478 2 27
Total deposits 214,501 224,146 211,051 208,048 209,200 (4) 3
(1)In first quarter 2026, we updated our assumptions and methodologies used to allocate capital as part of our periodic assessments.
-14-
Wells Fargo & Company and Subsidiaries
WEALTH AND INVESTMENT MANAGEMENT (WIM) SEGMENT (1)
Quarter ended Mar 31, 2026
% Change from
($ in millions, unless otherwise noted) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Income Statement
Net interest income $ 905 868 851 785 730 4 % 24
Noninterest income:
Investment advisory and other asset-based fees 2,503 2,492 2,353 2,208 2,234 — 12
Commissions and brokerage services fees 438 442 424 400 421 (1) 4
Other 29 19 46 45 19 53 53
Total noninterest income 2,970 2,953 2,823 2,653 2,674 1 11
Total revenue 3,875 3,821 3,674 3,438 3,404 1 14
Net charge-offs (1) — (1) 6 (6) NM 83
Change in the allowance for credit losses (9) (9) (13) 6 17 — NM
Provision for credit losses (10) (9) (14) 12 11 (11) NM
Noninterest expense 3,262 3,074 3,013 2,865 2,946 6 11
Income before income tax expense 623 756 675 561 447 (18) 39
Income tax expense 155 191 169 141 98 (19) 58
Net income $ 468 565 506 420 349 (17) 34
Selected Metrics
Return on allocated capital 28.4 % 33.6 29.9 25.0 20.9
Efficiency ratio 84 80 82 83 87
Client assets ($ in billions, period-end):
Advisory assets
$ 1,119 1,127 1,104 1,042 980 (1) 14
Other brokerage assets and deposits
1,364 1,382 1,369 1,304 1,253 (1) 9
Total Company-wide client assets (2) $ 2,483 2,509 2,473 2,346 2,233 (1) 11
Total WIM client assets $ 2,222 2,244 2,211 2,097 1,996 (1) 11
Selected Balance Sheet Data (average)
Total loans $ 88,386 84,949 82,330 81,271 80,930 4 9
Total deposits 112,098 105,542 99,764 99,458 102,097 6 10
Allocated capital 6,500 6,500 6,500 6,500 6,500 — —
Selected Balance Sheet Data (period-end)
Total loans $ 89,537 87,106 83,786 81,327 80,955 3 11
Total deposits 113,659 117,478 103,957 97,318 102,162 (3) 11
NM – Not meaningful
(1)In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation.
(2)Includes amounts for clients of the Consumer Banking and Lending operating segment.
-15-
Wells Fargo & Company and Subsidiaries
CORPORATE (1)
Quarter ended Mar 31, 2026
% Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Income Statement
Net interest income $ (460) (199) (273) (103) 36 NM NM
Noninterest income 228 388 449 662 (213) (41) % 207
Total revenue (232) 189 176 559 (177) NM (31)
Net charge-offs 5 (23) 10 — — 122 NM
Change in the allowance for credit losses (3) (22) (14) (12) (5) 86 40
Provision for credit losses 2 (45) (4) (12) (5) 104 140
Noninterest expense 179 624 650 565 457 (71) (61)
Income (loss) before income tax benefit
(413) (390) (470) 6 (629) (6) 34
Income tax benefit (466) (246) (173) (348) (615) (89) 24
Less: Net income (loss) from noncontrolling interests
35 60 18 26 (92) (42) 138
Net income (loss) $ 18 (204) (315) 328 78 109 (77)
Selected Balance Sheet Data (average)
Available-for-sale debt securities $ 208,869 203,202 188,103 172,879 161,430 3 29
Held-to-maturity debt securities 202,212 206,595 214,409 220,364 226,714 (2) (11)
Equity securities
17,487 16,062 16,450 15,493 15,398 9 14
Total assets 649,698 638,732 636,359 601,010 618,339 2 5
Total deposits 86,073 69,024 55,201 46,242 50,576 25 70
Selected Balance Sheet Data (period-end)
Available-for-sale debt securities $ 214,935 205,670 198,665 176,235 167,634 5 28
Held-to-maturity debt securities 200,842 204,811 211,069 218,360 224,111 (2) (10)
Equity securities
17,091 16,451 16,273 15,907 15,138 4 13
Total assets 669,736 638,664 642,044 624,556 621,445 5 8
Total deposits 96,421 73,479 64,407 48,917 47,636 31 102
NM – Not meaningful
(1)All other business activities that are not included in the reportable operating segments have been included in Corporate. Corporate includes corporate treasury and enterprise functions, net of expense allocations, in support of the reportable operating segments (including funds transfer pricing, capital, and liquidity), as well as our investment portfolio and venture capital investments. Corporate also includes results for previously divested businesses.
-16-
Wells Fargo & Company and Subsidiaries
CONSOLIDATED LOANS OUTSTANDING – PERIOD-END BALANCES, AVERAGE BALANCES, AND AVERAGE INTEREST RATES
Quarter ended Mar 31, 2026
$ Change from
($ in millions)
Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Period-End Loans
Commercial and industrial
$ 481,915 452,068 417,904 402,150 390,533 29,847 91,382
Commercial real estate 132,213 132,284 130,250 132,560 134,035 (71) (1,822)
Lease financing 15,512 15,543 15,311 15,060 16,131 (31) (619)
Total commercial 629,640 599,895 563,465 549,770 540,699 29,745 88,941
Residential mortgage 240,839 242,190 243,910 245,755 247,613 (1,351) (6,774)
Credit card 57,277 59,540 56,996 55,318 54,608 (2,263) 2,669
Auto 53,794 50,487 46,041 42,878 41,482 3,307 12,312
Other consumer (1)
35,237 34,055 32,690 30,697 29,440 1,182 5,797
Total consumer 387,147 386,272 379,637 374,648 373,143 875 14,004
Total loans $ 1,016,787 986,167 943,102 924,418 913,842 30,620 102,945
Average Loans
Commercial and industrial $ 463,064 427,616 405,753 393,602 381,702 35,448 81,362
Commercial real estate 132,134 130,507 131,623 133,661 135,271 1,627 (3,137)
Lease financing 15,462 15,243 14,986 16,046 16,182 219 (720)
Total commercial 610,660 573,366 552,362 543,309 533,155 37,294 77,505
Residential mortgage 241,078 242,848 244,562 246,512 248,739 (1,770) (7,661)
Credit card 58,215 58,245 56,420 54,985 55,363 (30) 2,852
Auto 52,099 48,231 44,292 41,865 41,967 3,868 10,132
Other consumer 33,973 33,159 31,041 30,048 28,958 814 5,015
Total consumer 385,365 382,483 376,315 373,410 375,027 2,882 10,338
Total loans $ 996,025 955,849 928,677 916,719 908,182 40,176 87,843
Average Interest Rates
Commercial and industrial 5.68 % 5.94 6.26 6.29 6.34
Commercial real estate 5.62 5.94 6.15 6.17 6.19
Lease financing 5.81 5.86 5.85 5.72 5.78
Total commercial 5.67 5.93 6.23 6.24 6.28
Residential mortgage 3.72 3.72 3.72 3.70 3.68
Credit card 12.31 12.27 12.70 12.65 12.74
Auto 5.72 5.70 5.59 5.48 5.33
Other consumer 6.66 6.98 7.40 7.47 7.61
Total consumer 5.55 5.55 5.59 5.52 5.51
Total loans 5.62 5.78 5.97 5.95 5.96
(1)Includes $28.2 billion, $26.2 billion, $25.1 billion, $23.1 billion, and $21.7 billion at March 31, 2026, and December 31, September 30, June 30, and March 31, 2025, respectively, of securities-based loans originated by the Wealth and Investment Management operating segment.
-17-
Wells Fargo & Company and Subsidiaries
NET LOAN CHARGE-OFFS
Quarter ended
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Mar 31, 2026
$ Change from
($ in millions) Net loan
charge-offs As a % of average loans (1) Net loan
charge-offs As a % of average loans (1) Net loan
charge-offs As a % of average loans (1) Net loan
charge-offs As a % of average loans (1) Net loan
charge-offs As a % of average loans (1) Dec 31,
2025 Mar 31,
2025
By product:
Commercial and industrial $ 331 0.29 % $ 157 0.15 % $ 131 0.13 % $ 179 0.18 % $ 108 0.11 % $ 174 223
Commercial real estate 19 0.06 158 0.48 107 0.32 61 0.18 95 0.28 (139) (76)
Lease financing 10 0.26 10 0.26 12 0.32 7 0.17 8 0.20 — 2
Total commercial 360 0.24 325 0.22 250 0.18 247 0.18 211 0.16 35 149
Residential mortgage (14) (0.02) (13) (0.02) (22) (0.04) (3) — (15) (0.02) (1) 1
Credit card 605 4.21 583 3.97 571 4.02 622 4.54 650 4.76 22 (45)
Auto 63 0.49 60 0.49 50 0.45 30 0.29 64 0.62 3 (1)
Other consumer 86 1.03 91 1.09 93 1.19 101 1.35 99 1.39 (5) (13)
Total consumer 740 0.78 721 0.75 692 0.73 750 0.81 798 0.86 19 (58)
Total net loan charge-offs $ 1,100 0.45 % $ 1,046 0.43 % $ 942 0.40 % $ 997 0.44 % $ 1,009 0.45 % $ 54 91
By segment:
Consumer Banking and Lending $ 820 0.99 % $ 775 0.93 % $ 766 0.93 % $ 818 1.04 % $ 877 1.12 % $ 45 (57)
Commercial Banking 57 0.10 90 0.16 83 0.15 98 0.17 41 0.07 (33) 16
Corporate and Investing Banking 224 0.27 181 0.23 94 0.13 75 0.11 97 0.14 43 127
Wealth and Investment Management (1) — — — (1) — 6 0.03 (6) (0.03) (1) 5
Corporate — — — — — — — — — — — —
Total net loan charge-offs $ 1,100 0.45 % $ 1,046 0.43 % $ 942 0.40 % $ 997 0.44 % $ 1,009 0.45 % $ 54 91
(1)Quarterly net loan charge-offs (recoveries) as a percentage of average loans are annualized.
-18-
Wells Fargo & Company and Subsidiaries
CHANGES IN ALLOWANCE FOR CREDIT LOSSES FOR LOANS
Quarter ended Mar 31, 2026
$ Change from
($ in millions) Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Balance, beginning of period $ 14,337 14,311 14,568 14,552 14,636 26 (299)
Provision for credit losses for loans 1,139 1,071 687 1,007 925 68 214
Net loan charge-offs:
Commercial and industrial (331) (157) (131) (179) (108) (174) (223)
Commercial real estate (19) (158) (107) (61) (95) 139 76
Lease financing (10) (10) (12) (7) (8) — (2)
Total commercial (360) (325) (250) (247) (211) (35) (149)
Residential mortgage 14 13 22 3 15 1 (1)
Credit card (605) (583) (571) (622) (650) (22) 45
Auto (63) (60) (50) (30) (64) (3) 1
Other consumer (86) (91) (93) (101) (99) 5 13
Total consumer (740) (721) (692) (750) (798) (19) 58
Net loan charge-offs (1,100) (1,046) (942) (997) (1,009) (54) (91)
Other (2) 1 (2) 6 — (3) (2)
Balance, end of period $ 14,374 14,337 14,311 14,568 14,552 37 (178)
Components:
Allowance for loan losses $ 13,864 13,797 13,744 13,961 14,029 67 (165)
Allowance for unfunded credit commitments 510 540 567 607 523 (30) (13)
Allowance for credit losses for loans $ 14,374 14,337 14,311 14,568 14,552 37 (178)
Ratio of allowance for loan losses to total net loan charge-offs (annualized) 3.11x 3.32 3.68 3.49 3.43
Allowance for loan losses as a percentage of:
Total loans 1.36 % 1.40 1.46 1.51 1.54
Nonaccrual loans 164 168 181 180 176
Allowance for credit losses for loans as a percentage of:
Total loans 1.41 1.45 1.52 1.58 1.59
Nonaccrual loans 170 175 188 188 182
-19-
Wells Fargo & Company and Subsidiaries
ALLOCATION OF ALLOWANCE FOR CREDIT LOSSES FOR LOANS
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025
($ in millions) ACL ACL
as %
of loan
class ACL ACL
as %
of loan
class ACL ACL
as %
of loan
class ACL ACL
as %
of loan
class ACL ACL
as %
of loan
class
By product:
Commercial and industrial
$ 4,840 1.00 % $ 4,510 1.00 % $ 4,376 1.05 % $ 4,306 1.07 % $ 4,331 1.11 %
Commercial real estate 2,478 1.87 2,737 2.07 2,965 2.28 3,317 2.50 3,365 2.51
Lease financing
211 1.36 210 1.35 211 1.38 212 1.41 234 1.45
Total commercial
7,529 1.20 7,457 1.24 7,552 1.34 7,835 1.43 7,930 1.47
Residential mortgage (1) 525 0.22 555 0.23 569 0.23 568 0.23 542 0.22
Credit card 4,902 8.56 4,956 8.32 4,907 8.61 4,910 8.88 4,840 8.86
Auto 878 1.63 817 1.62 717 1.56 657 1.53 629 1.52
Other consumer 540 1.53 552 1.62 566 1.73 598 1.95 611 2.08
Total consumer
6,845 1.77 6,880 1.78 6,759 1.78 6,733 1.80 6,622 1.77
Total allowance for credit losses for loans $ 14,374 1.41 % $ 14,337 1.45 % $ 14,311 1.52 % $ 14,568 1.58 % $ 14,552 1.59 %
By segment:
Consumer Banking and Lending $ 7,732 2.30 % $ 7,734 2.30 % $ 7,599 2.29 % $ 7,458 2.33 % $ 7,332 2.30 %
Commercial Banking 2,287 0.97 2,194 0.96 2,184 0.98 2,368 1.03 2,509 1.10
Corporate and Investing Banking 4,122 1.17 4,167 1.25 4,275 1.41 4,470 1.54 4,444 1.58
Wealth and Investment Management 232 0.26 241 0.28 251 0.30 264 0.32 258 0.32
Corporate 1 0.10 1 0.11 2 0.22 8 0.27 9 0.20
Total allowance for credit losses for loans $ 14,374 1.41 % $ 14,337 1.45 % $ 14,311 1.52 % $ 14,568 1.58 % $ 14,552 1.59 %
(1)Includes negative allowance for expected recoveries of amounts previously charged off.
-20-
Wells Fargo & Company and Subsidiaries
NONPERFORMING ASSETS (NONACCRUAL LOANS AND FORECLOSED ASSETS)
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Mar 31, 2026
$ Change from
($ in millions) Balance % of
total
loans Balance % of
total
loans Balance % of
total
loans Balance % of
total
loans Balance % of
total
loans Dec 31,
2025 Mar 31,
2025
By product:
Nonaccrual loans:
Commercial and industrial $ 1,646 0.34 % $ 1,312 0.29 % $ 1,050 0.25 % $ 925 0.23 % $ 969 0.25 % $ 334 677
Commercial real estate 3,779 2.86 3,879 2.93 3,334 2.56 3,556 2.68 3,836 2.86 (100) (57)
Lease financing 88 0.57 75 0.48 75 0.49 82 0.54 78 0.48 13 10
Total commercial 5,513 0.88 5,266 0.88 4,459 0.79 4,563 0.83 4,883 0.90 247 630
Residential mortgage (1) 2,860 1.19 2,838 1.17 3,057 1.25 3,090 1.26 2,982 1.20 22 (122)
Auto 70 0.13 70 0.14 71 0.15 76 0.18 83 0.20 — (13)
Other consumer 26 0.07 27 0.08 27 0.08 28 0.09 30 0.10 (1) (4)
Total consumer 2,956 0.76 2,935 0.76 3,155 0.83 3,194 0.85 3,095 0.83 21 (139)
Total nonaccrual loans 8,469 0.83 8,201 0.83 7,614 0.81 7,757 0.84 7,978 0.87 268 491
Foreclosed assets 299 302 218 207 247 (3) 52
Total nonperforming assets $ 8,768 0.86 % $ 8,503 0.86 % $ 7,832 0.83 % $ 7,964 0.86 % $ 8,225 0.90 % $ 265 543
By segment:
Consumer Banking and Lending $ 2,966 0.88 % $ 2,941 0.88 % $ 3,181 0.97 % $ 3,054 0.97 % $ 3,011 0.95 % $ 25 (45)
Commercial Banking 1,668 0.71 1,324 0.58 1,086 0.49 1,489 0.65 1,536 0.67 344 132
Corporate and Investing Banking 3,860 1.09 3,973 1.19 3,276 1.08 3,132 1.08 3,442 1.23 (113) 418
Wealth and Investment Management 274 0.31 265 0.29 289 0.33 289 0.34 236 0.28 9 38
Corporate — — — — — — — — — — — —
Total nonperforming assets $ 8,768 0.86 % $ 8,503 0.86 % $ 7,832 0.83 % $ 7,964 0.86 % $ 8,225 0.90 % $ 265 543
(1)Residential mortgage loans are not placed on nonaccrual status when they are insured or guaranteed by U.S. government agencies, such as the Federal Housing Administration or the Department of Veterans Affairs.
-21-
Wells Fargo & Company and Subsidiaries
COMMERCIAL LOAN PORTFOLIO
Mar 31, 2026 Dec 31, 2025 Mar 31, 2025
($ in millions) Nonaccrual
loans Loans outstanding balance Total commitments (1) Nonaccrual
loans Loans outstanding balance Total commitments (1) Nonaccrual
loans Loans outstanding balance Total commitments (1)
Commercial and industrial loans and lease financing by industry:
Financials except banks
Asset managers and funds (2)(3)
$ — 76,233 130,181 1 69,752 126,027 1 54,470 100,544
Commercial finance (4)
94 62,139 98,017 108 60,955 97,757 2 51,969 84,815
Consumer finance (5)
124 33,849 48,991 129 27,794 45,321 1 20,209 35,848
Real estate finance (6)
19 37,945 42,277 7 34,514 39,043 12 24,916 28,109
Total financials except banks (3)
237 210,166 319,466 245 193,015 308,148 16 151,564 249,316
Technology, telecom and media 283 30,060 77,594 49 26,552 78,922 68 23,259 60,552
Real estate and construction 82 30,045 62,974 66 29,321 60,900 95 25,411 54,272
Equipment, machinery and parts manufacturing 29 27,972 54,497 33 25,985 54,078 31 25,563 50,572
Retail 143 20,024 43,841 208 19,644 42,865 268 18,623 45,408
Materials and commodities 98 15,082 38,026 100 13,609 35,731 119 14,476 33,883
Oil, gas and pipelines 2 12,367 35,040 3 10,237 31,738 3 10,950 30,638
Food and beverage manufacturing 349 16,886 32,642 286 17,838 33,951 9 16,316 32,215
Auto related 6 17,154 32,452 7 16,984 32,169 7 16,505 31,013
Health care and pharmaceuticals 23 13,242 32,049 22 13,513 31,552 62 13,590 30,564
Diversified or miscellaneous 56 13,758 31,608 58 11,905 29,908 10 10,295 25,897
Utilities 17 8,946 28,618 18 8,232 28,187 1 7,030 25,221
Commercial services 67 12,244 28,329 65 11,481 27,563 88 11,148 27,462
Entertainment and recreation 130 13,835 21,591 17 13,208 20,841 42 13,786 24,967
Insurance and fiduciaries 1 5,658 18,933 1 6,128 19,223 1 5,456 16,832
Transportation services 146 8,888 17,278 156 8,237 16,737 149 9,418 16,563
Other (3)
65 41,100 59,907 53 41,722 61,008 78 33,274 52,423
Total commercial and industrial loans and lease financing 1,734 497,427 934,845 1,387 467,611 913,521 1,047 406,664 807,798
Commercial real estate loans by property type (7):
Apartments 396 36,605 41,787 386 36,974 41,554 352 39,537 43,808
Industrial/warehouse 39 27,469 32,203 42 25,959 31,377 67 23,286 25,576
Office 2,394 20,736 21,689 2,461 21,958 23,360 2,897 26,415 27,611
Hotel/motel 735 12,344 12,885 719 12,764 13,154 239 11,606 12,004
Retail (excluding shopping center) 40 10,287 11,696 43 10,568 11,476 145 11,296 11,915
Shopping center 3 9,477 10,267 53 9,353 9,800 97 7,969 8,404
Institutional 10 5,016 5,422 11 5,402 5,852 13 5,095 5,365
Other 162 10,279 12,112 164 9,306 11,080 26 8,831 10,959
Total commercial real estate loans 3,779 132,213 148,061 3,879 132,284 147,653 3,836 134,035 145,642
Total commercial loans $ 5,513 629,640 1,082,906 5,266 599,895 1,061,174 4,883 540,699 953,440
(1)Total commitments consist of loans outstanding plus unfunded credit commitments, excluding issued letters of credit and discretionary amounts where our approval or consent is required prior to any loan funding or commitment increase.
(2)Includes loans for subscription or capital calls and loans to securities firms.
(3)In first quarter 2026, we reclassified prime brokerage margin loans from the asset managers and funds category within the financials except banks industry category to Other. Prior period balances have been revised to conform with the current period presentation.
(4)Includes asset-based lending and leasing, including loans to special purpose entities, loans to commercial leasing entities, and structured lending facilities to commercial loan managers.
(5)Includes originators or servicers of financial assets collateralized by consumer loans such as auto loans and leases, and credit cards.
(6)Includes originators or servicers of financial assets collateralized by commercial or residential real estate loans.
(7)Our commercial real estate (CRE) loan portfolio is comprised of CRE mortgage and CRE construction loans.
-22-
Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY
We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. The ratios are (i) tangible book value per common share, which represents tangible common equity divided by common shares outstanding; and (ii) return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that tangible book value per common share and return on average tangible common equity, which utilize tangible common equity, are useful financial measures because they enable management, investors, and others to assess the Company’s use of equity.
The tables below provide a reconciliation of these non-GAAP financial measures to GAAP financial measures.
Mar 31, 2026
% Change from
($ in millions)
Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Tangible book value per common share:
Total equity $ 180,313 183,038 183,012 182,954 182,906 (1) % (1)
Adjustments:
Preferred stock (15,348) (16,608) (16,608) (16,608) (18,608) 8 18
Additional paid-in capital on preferred stock 139 141 141 141 145 (1) (4)
Noncontrolling interests (1,916) (1,920) (1,858) (1,843) (1,816) — (6)
Total common stockholders' equity (A) 163,188 164,651 164,687 164,644 162,627 (1) —
Adjustments:
Goodwill (24,965) (24,967) (25,069) (25,071) (25,066) — —
Certain identifiable intangible assets (other than MSRs) (765) (823) (863) (902) (65) 7 NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)
(705) (705) (698) (674) (674) — (5)
Applicable deferred taxes related to goodwill and other intangible assets (1)
1,064 1,063 1,062 1,060 954 — 12
Tangible common equity (B) $ 137,817 139,219 139,119 139,057 137,776 (1) —
Common shares outstanding (C) 3,064.3 3,092.6 3,148.9 3,220.4 3,261.7 (1) (6)
Book value per common share (A)/(C) $ 53.25 53.24 52.30 51.13 49.86 — 7
Tangible book value per common share (B)/(C) 44.98 45.02 44.18 43.18 42.24 — 6
NM – Not meaningful
(1)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.
-23-
Wells Fargo & Company and Subsidiaries
TANGIBLE COMMON EQUITY (continued)
Quarter ended Mar 31, 2026
% Change from
($ in millions)
Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Return on average tangible common equity:
Net income applicable to common stock (A) $ 5,000 5,114 5,341 5,214 4,616 (2) % 8
Average total equity 183,693 183,844 183,428 183,268 183,358 — —
Adjustments:
Preferred stock
(16,333) (16,608) (16,608) (18,278) (18,608) 2 12
Additional paid-in capital on preferred stock
140 141 141 143 145 (1) (3)
Noncontrolling interests (1,915) (1,879) (1,850) (1,818) (1,894) (2) (1)
Average common stockholders’ equity (B) 165,585 165,498 165,111 163,315 163,001 — 2
Adjustments:
Goodwill (24,967) (25,055) (25,070) (25,070) (25,135) — 1
Certain identifiable intangible assets (other than MSRs)
(788) (847) (889) (863) (69) 7 NM
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets)
(705) (698) (674) (674) (734) (1) 4
Applicable deferred taxes related to goodwill and other intangible assets (1)
1,063 1,063 1,061 989 952 — 12
Average tangible common equity (C) $ 140,188 139,961 139,539 137,697 138,015 — 2
Return on average common stockholders’ equity (ROE) (annualized) (A)/(B) 12.2 % 12.3 12.8 12.8 11.5
Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 14.5 14.5 15.2 15.2 13.6
NM – Not meaningful
(1)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.
-24-
Wells Fargo & Company and Subsidiaries
RISK-BASED CAPITAL RATIOS UNDER BASEL III (1)
Estimated
($ in billions)
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025
Total equity
$ 180.3 183.0 183.0 183.0 182.9
Adjustments:
Preferred stock (15.3) (16.6) (16.6) (16.6) (18.6)
Additional paid-in capital on preferred stock 0.1 0.1 0.2 0.1 0.1
Noncontrolling interests (1.9) (1.8) (1.9) (1.9) (1.8)
Total common stockholders' equity 163.2 164.7 164.7 164.6 162.6
Adjustments:
Goodwill (25.0) (25.0) (25.1) (25.1) (25.1)
Certain identifiable intangible assets (other than MSRs) (0.8) (0.8) (0.9) (0.9) (0.1)
Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (0.7) (0.7) (0.7) (0.7) (0.7)
Applicable deferred taxes related to goodwill and other intangible assets (2) 1.1 1.1 1.1 1.1 1.0
Other (2.4) (2.0) (2.5) (2.6) (2.1)
Common Equity Tier 1 under the Standardized and Advanced Approaches (A) 135.4 137.3 136.6 136.4 135.6
Preferred stock 15.3 16.6 16.6 16.6 18.6
Additional paid-in capital on preferred stock (0.1) (0.1) (0.2) (0.1) (0.1)
Other (0.2) (0.2) (0.2) (0.2) (0.2)
Total Tier 1 capital under the Standardized and Advanced Approaches (B) 150.4 153.6 152.8 152.7 153.9
Long-term debt and other instruments qualifying as Tier 2 17.0 16.7 16.7 17.3 17.6
Qualifying allowance for credit losses (3) 14.7 14.7 14.6 14.6 14.4
Other (0.3) (0.3) (0.4) (0.4) (0.4)
Total Tier 2 capital under the Standardized Approach
(C)
31.4 31.1 30.9 31.5 31.6
Total qualifying capital under the Standardized Approach
(B)+(C)
$ 181.8 184.7 183.7 184.2 185.5
Long-term debt and other instruments qualifying as Tier 2 17.0 16.7 16.7 17.3 17.6
Qualifying allowance for credit losses (3) 4.7 4.6 4.4 4.3 4.3
Other (0.3) (0.3) (0.4) (0.4) (0.4)
Total Tier 2 capital under the Advanced Approach (D) 21.4 21.0 20.7 21.2 21.5
Total qualifying capital under the Advanced Approach
(B)+(D)
$ 171.8 174.6 173.5 173.9 175.4
Total risk-weighted assets (RWAs) under the Standardized Approach
(E) $ 1,315.6 1,294.6 1,242.4 1,225.9 1,222.0
Total RWAs under the Advanced Approach
(F) $ 1,124.5 1,112.5 1,072.2 1,070.4 1,063.6
Ratios under the Standardized Approach:
Common Equity Tier 1 (A)/(E) 10.3 % 10.6 11.0 11.1 11.1
Tier 1 capital (B)/(E) 11.4 11.9 12.3 12.5 12.6
Total capital
(B)+(C)/(E)
13.8 14.3 14.8 15.0 15.2
Ratios under the Advanced Approach:
Common Equity Tier 1 (A)/(F) 12.0 % 12.4 12.7 12.7 12.7
Tier 1 capital (B)/(F) 13.4 13.8 14.3 14.3 14.5
Total capital
(B)+(D)/(F)
15.3 15.7 16.2 16.2 16.5
(1)The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, Tier 1 capital and total capital ratios under both approaches.
(2)Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.
(3)Differences between the approaches are driven by the qualifying amounts of ACL includable in Tier 2 capital. Under the Advanced Approach, eligible credit reserves represented by the amount of qualifying ACL in excess of expected credit losses (using regulatory definitions) is limited to 0.60% of Advanced credit RWAs, whereas the Standardized Approach includes ACL in Tier 2 capital up to 1.25% of Standardized credit RWAs. Under both approaches, any excess ACL is deducted from the respective total RWAs.
-25-
Wells Fargo & Company and Subsidiaries
NET INTEREST INCOME EXCLUDING MARKETS
We also evaluate the Company’s net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Markets net interest income includes interest income earned on the assets and interest expense paid on the liabilities of the line of business, as well as funding charges and credits using our funds transfer pricing methodology. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities.
The table below provides a reconciliation of this non-GAAP financial measure to a GAAP financial measure.
Quarter ended Mar 31, 2026
% Change from
($ in millions)
Mar 31,
2026 Dec 31,
2025 Sep 30,
2025 Jun 30,
2025 Mar 31,
2025 Dec 31,
2025 Mar 31,
2025
Net interest income $ 12,096 12,331 11,950 11,708 11,495 (2) % 5
Markets net interest income
481 358 144 104 131 34 267
Net interest income excluding Markets $ 11,615 11,973 11,806 11,604 11,364 (3) % 2
-26-
EX-99.3 — EXHIBIT 99.3
EX-99.3
Filename: ex993-wellsfargo1q26pres.htm · Sequence: 4
ex993-wellsfargo1q26pres
© 2026 Wells Fargo Bank, N.A. All rights reserved. 1Q26 Financial Results April 14, 2026 Exhibit 99.3
21Q26 Financial Results Improved financial results driven by momentum across businesses Company Highlights Consumer Banking and Lending Corporate and Investment Banking Wealth and Investment Management Commercial Banking • Earnings per diluted share of $1.60, up 15% • Revenue up 6%, driven by a 5% increase in net interest income and an 8% increase in noninterest income • Loans and deposits up 11% and 7%, respectively • Headcount down 7%; positive operating leverage and continued focus on expense discipline • Returned $5.4 billion to shareholders, including $4.0 billion of common share repurchases, while maintaining significant excess capital • Revenue up 4% • Banking revenue up 11% • Investment Banking market share stable at 4.3%; Equity Capital Markets market share up from FY251 • Markets revenue up 19% • Revenue up 14% • Company-wide client assets up 11% • Third consecutive quarter of advisor hiring with $100mm+ production across all channels • Onboarded independent advisor channel (FiNet) teams managing ~$9 billion in client assets • Revenue up 7% • Consumer checking account openings up more than 15% • New credit card accounts up nearly 60% • Auto originations more than 2x prior year • Revenue up 7% • Early signs of success from coverage banker hires, with higher new client acquisition and balance growth • Loans and deposits up 7% and 8%, respectively (absent the 3Q25 transfer to Consumer Banking and Lending)2 Comparisons in the bullet points are for 1Q26 versus 1Q25, unless otherwise noted. Operating leverage means the percentage change in revenue minus the percentage change in noninterest expense. Endnotes are presented starting on page 22.
31Q26 Financial Results 1Q26 results Financial Results ROE: 12.2% ROTCE: 14.5%1 Efficiency ratio: 67%2 Credit Quality Capital and Liquidity CET1 ratio: 10.3%5 LCR: 120%6 TLAC ratio: 23.0%7 • Provision for credit losses4 of $1.1 billion – Total net loan charge-offs of $1.1 billion, up $91 million, with net loan charge-offs of 0.45% of average loans (annualized) – Allowance for credit losses for loans of $14.4 billion, down 1% • Common Equity Tier 1 (CET1) capital5 of $135.4 billion • CET1 ratio5 of 10.3% under the Standardized Approach • Liquidity coverage ratio (LCR)6 of 120% • Net Income of $5.3 billion, or $1.60 per diluted share included $135 million of discrete tax benefits, or $0.04 per share, related to the resolution of prior period matters • Revenue of $21.4 billion, up 6% – Net interest income of $12.1 billion, up 5% – Noninterest income of $9.4 billion, up 8% • Noninterest expense of $14.3 billion, up 3% • Pre-tax pre-provision profit3 of $7.1 billion, up 14% • Effective income tax rate of 11.6% • Average loans of $996.0 billion, up 10% • Average deposits of $1.4 trillion, up 6% Comparisons in the bullet points are for 1Q26 versus 1Q25, unless otherwise noted. Endnotes are presented starting on page 22.
41Q26 Financial Results 1Q26 earnings Quarter ended $ Change from $ in millions, except per share data 1Q26 4Q25 1Q25 4Q25 1Q25 Net interest income $12,096 12,331 11,495 ($235) 601 Noninterest income 9,350 8,961 8,654 389 696 Total revenue 21,446 21,292 20,149 154 1,297 Net charge-offs 1,106 1,030 1,009 76 97 Change in the allowance for credit losses 29 10 (77) 19 106 Provision for credit losses1 1,135 1,040 932 95 203 Noninterest expense 14,330 13,726 13,891 604 439 Pre-tax income 5,981 6,526 5,326 (545) 655 Income tax expense 691 1,103 522 (412) 169 Effective income tax rate (%) 11.6 % 16.9 9.6 (535) bps 192 Net income $5,253 5,361 4,894 ($108) 359 Diluted earnings per common share $1.60 1.62 1.39 ($0.02) 0.21 Diluted average common shares (# mm) 3,117.7 3,159.0 3,321.6 (41) (204) Return on equity (ROE) 12.2 % 12.3 11.5 (1) bps 76 Return on average tangible common equity (ROTCE)2 14.5 14.5 13.6 (3) 90 Efficiency ratio 67 64 69 235 (212) Endnotes are presented starting on page 22.
51Q26 Financial Results Net Interest Income ($ in millions) 11,495 11,708 11,950 12,331 12,096 Net Interest Margin (NIM) on a taxable-equivalent basis 1Q25 2Q25 3Q25 4Q25 1Q26 2.47% Net interest income • Net interest income (NII) of $12.1 billion, up $601 million, or 5%, from 1Q25 – NII excluding Markets2 of $11.6 billion, up $251 million, or 2%, driven by higher deposit balances and lower deposit costs, higher loan and investment securities balances, and fixed rate asset repricing, partially offset by the impact of lower interest rates on floating rate assets – Markets NII of $481 million, up $350 million • NII down $235 million, or 2%, from 4Q25 – NII excluding Markets2 down $358 million, or 3%, driven by two fewer days in the quarter and the impact of lower interest rates on floating rate assets, partially offset by higher loan and deposit balances and fixed asset repricing – Markets NII up $123 million – Net interest margin (NIM) of 2.47% down 13 bps reflecting growth in lower-yielding assets in Markets, as well as growth in interest-bearing deposits, other short-term borrowings and the impact of lower interest rates 2.67% 2.68% 2.61% 2.60% 1 Endnotes are presented starting on page 22.
61Q26 Financial Results • Period-end loans up $103.0 billion, or 11%, YoY driven by growth in commercial and industrial loans, auto loans, securities-based loans in WIM, and credit card loans; up $30.6 billion, or 3%, from 4Q25 – Commercial and industrial loans up $91.4 billion, or 23%, YoY and up $29.8 billion, or 7%, from 4Q25 Loans • Average loans up $87.8 billion, or 10%, year-over-year (YoY) as higher commercial and industrial loans, auto loans, securities-based loans in Wealth and Investment Management (WIM), and credit card loans were partially offset by declines in residential mortgage loans and commercial real estate loans; up $40.2 billion, or 4%, from 4Q25 driven by higher commercial loans, auto loans, and securities-based loans in WIM • Total average loan yield of 5.62%, down 34 bps YoY and 16 bps from 4Q25 reflecting the impact of lower interest rates Average Loans Outstanding ($ in billions) 908.2 916.7 928.7 955.8 996.0 533.2 543.3 552.4 573.3 610.6 375.0 373.4 376.3 382.5 385.4 Total Average Loan Yield Consumer Loans Commercial Loans 1Q25 2Q25 3Q25 4Q25 1Q26 5.96% 5.95% 5.97% 5.78% 5.62% Period-End Loans Outstanding ($ in billions) 913.8 924.4 943.1 986.2 1,016.8 540.7 549.8 563.5 599.9 629.6 373.1 374.6 379.6 386.3 387.2 Consumer Loans Commercial Loans 1Q25 2Q25 3Q25 4Q25 1Q26
71Q26 Financial Results $210.2 Financials except banks loans Financials Except Banks Loans Outstanding ($ in billions) Portfolio Characteristics Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22. Consumer Finance4 $33.9, 16% Real Estate Finance3 $38.0, 18% Commercial Finance2 $62.1, 30% Asset Managers and Funds1 $76.2, 36% • Diversified collateral across commercial and consumer products, industries and property types with structural protections such as triggers and/or covenants related to collateral performance – Lending structures and overall risk management are executed by specialist groups ◦ Typically underwrite both the counterparty and the underlying collateral ◦ Advance rates provide significant margins of protection ◦ Typically includes structural protections if collateral performance deteriorates Real Estate Finance • CIB Commercial Real Estate = ~$25 billion – Predominantly whole loan repo facilities for CRE mortgage loan originators – Focused on clients with origination and portfolio management experience with exposure diversified by property type, geography and underlying sponsors • CIB Residential Mortgage = ~$13 billion – Residential mortgage warehouse lending to originators and servicers Consumer Finance Consumer asset-backed securities (CIB) • ~74% secured by auto lending with a weighted-average effective advance rate of ~77%5 • Remainder secured by consumer installment, credit card, small business lending, and student lending Page 9 Page 8
81Q26 Financial Results Financials except banks loans – Asset Managers and Funds Asset Managers and Funds: Largely subscription or capital call facilities for alternative asset managers Fund Finance • Predominantly subscription facilities, also known as capital call facilities, which are secured lending backed by diversified limited partner commitments and targeted to managers with established track records where we have long-standing relationships • Portfolio characteristics of subscription facilities include: – ~90% of commitments are to asset mangers with >$20 billion in assets under management – Borrowers span ~445 funds with no individual fund representing more than 1.5% of total commitments ◦ Subscription line collateral spans ~38 thousand investors, predominantly institutional investors – Advance rates provide significant margins of protection and are determined by underwriting each limited partner, which drives the deal's overall advance rate ◦ Weighted-average effective advance rate of ~64% – Collateral for these facilities includes a security interest in the uncalled capital of the investors, including the right to direct the managers to make capital calls and receive capital contributions • Other is primarily secured loans that are diversified by both counterparty and collateral (primarily public securities, loans and private securities) Asset Managers and Funds Loans Outstanding ($ in billions) 85% 15% Other Fund Finance $76.2 Data as of 3/31/26.
91Q26 Financial Results Financials except banks loans – Commercial Finance Commercial Finance Loans Outstanding ($ in billions) Commercial Finance: Loans have structural protections, which may include collateral approval and re-margining rights, and credit oversight includes ongoing collateral monitoring. This category is comprised of five components: Corporate Debt Finance (CIB) • Secured lending against portfolios of corporate loans with underwriting of both the counterparty and the underlying collateral • See next page for additional details Supply Chain, Market Coverage and Specialized Industries (Commercial Banking) • Largely trade accounts receivable securitizations secured by accounts receivable and margined against a borrowing base – Diversified collateral pool with established, high-quality counterparties – Weighted-average effective advance rate of ~60%1 Commercial Asset-Backed Securities (ABS) (CIB) • Primarily loans to clients engaged in leasing aircraft, containers, rail cars, and equipment; weighted-average effective advance rate of ~63%2 Asset-based Lending (Commercial Banking) • Primarily secured lending facilities to asset-based lenders – Weighted-average effective advance rate of ~72%2 – Risk diversified by obligor, industry, geography, and collateral type Other • Includes broadly syndicated loan warehouses providing secured lending against portfolios of corporate loans with underwriting of both the counterparty (asset manager) and the underlying collateral 59% 15% 9% 9% 8% Asset-based Lending Other Commercial ABS Supply Chain, Market Coverage and Specialized Industries Corporate Debt Finance $62.1 Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22.
101Q26 Financial Results Financials ex. banks loans – Commercial Finance Corporate Debt Finance Corporate Debt Finance Industry Exposures Based on Collateral 1 Corporate Debt Finance = $36.2 billion of loans • Structural protections: – Operating as agent on over 98% of the transactions for re-margining flexibility based on credit performance (e.g., leverage increases, interest coverage decreases, material modifications or defaults) – Weighted-average effective advance rate of <60%1, i.e. on average the facility portfolios (not the individual loans) would absorb a ~40% loss before a loss would be recognized by us – Structured to an A/AA equivalent credit rating • Collateral characteristics include: – >98% senior first lien loans1 – Median EBITDA of ~$60 million and ~45% of the underlying loans had EBITDA of greater than $100 million1 – Diverse across industry and obligor (over 3,100 unique obligors); average obligor concentration in an individual facility was <2%1 – ~23% of exposure is to business development companies (BDCs) as the equity counterparty (public BDCs = ~6% and private BDCs = ~17%) 19% 17% 15% 8% 7% 7% 5% 4% 18% Business Services Software Healthcare Capital Equipment/ Industrial Production Financials Consumer Products & Services IT - Non- Software Food & Beverage (ex-restaurants) Other2 Data as of 3/31/26, unless otherwise noted. Endnotes are presented starting on page 22.
111Q26 Financial Results Deposits 1,339.3 1,331.7 1,339.9 1,377.7 1,415.0 799.9 805.5 808.9 807.6 816.6 182.9 178.0 172.0 181.0 185.9 203.9 202.4 204.1 214.5 214.3 102.1 99.5 99.8 105.5 112.1 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking (CB) Consumer Banking and Lending (CBL) 1Q25 2Q25 3Q25 4Q25 1Q26 Average Deposits ($ in billions) 86.169.155.146.3 • Average deposits up $75.7 billion, or 6%, YoY on growth in customer deposits across all of the operating segments, as well as higher Corporate deposits; up $37.3 billion, or 3%, from 4Q25 and included growth in CBL, WIM and CB • Average deposit cost of 1.43%, down 15 bps YoY; down 1 bp from 4Q25 • Period-end deposits up $93.2 billion, or 7%, YoY driven by growth in customer deposits across all of the operating segments, as well as higher Corporate deposits; up $28.7 billion, or 2%, from 4Q25 as increases in Corporate and CBL deposits were partially offset by lower CIB and WIM deposits 1,361.7 1,340.7 1,367.4 1,426.2 1,454.9 821.3 806.6 811.0 821.1 840.5 181.5 179.9 176.9 190.0 189.8 209.2 208.0 211.1 224.1 214.5 102.1 97.3 104.0 117.5 113.7 Corporate Wealth and Investment Management (WIM) Corporate and Investment Banking (CIB) Commercial Banking (CB) Consumer Banking and Lending (CBL) 1Q25 2Q25 3Q25 4Q25 1Q26 Period-End Deposits ($ in billions) 96.473.564.448.947.650.5
121Q26 Financial Results 8,654 9,114 9,486 8,961 9,350 644 1,138 1,030 973 862 1,044 1,173 1,223 1,149 1,138 775 696 840 716 796 1,384 1,376 1,408 979 1,351 1,633 1,622 1,674 1,684 1,712 3,174 3,109 3,311 3,460 3,491 Investment advisory fees and brokerage commissions Deposit and lending-related fees Net gains from trading activities Investment banking fees Card fees All other 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest Income ($ in millions) • Noninterest income up $696 million, or 8%, from 1Q25 – Investment advisory fees and brokerage commissions1 up $317 million, or 10%, driven by higher asset-based fees reflecting higher market valuations, as well as higher retail brokerage commissions on higher transactional activity – Card fees2 up $94 million, or 9%, on higher merchant processing card fees and higher debit card interchange income – All other3 up $218 million on higher net gains from equity and debt securities, partially offset by $151 million lower lease income from the 1/1/26 sale of our rail car leasing business and lower mortgage banking fees from a 1Q25 which included a $263 million gain on the sale of our commercial non-agency third party servicing business • Noninterest income up $389 million, or 4%, from 4Q25 – Net gains from trading activities up $372 million, or 38%, reflecting higher gains across nearly all asset classes reflecting higher customer activity – Investment banking fees up $80 million, or 11%, reflecting higher advisory and equity underwriting fees – All other3 down $111 million and included lower lease income from the sale of our rail car leasing business Noninterest income 3 1 Endnotes are presented starting on page 22. 2
131Q26 Financial Results 13,891 13,379 13,846 13,726 14,330 4,417 4,670 4,825 4,649 4,737 9,474 8,709 8,725 8,465 9,593 Personnel Expense Non-personnel Expense 1Q25 2Q25 3Q25 4Q25 1Q26 Noninterest expense • Noninterest expense up $439 million, or 3%, from 1Q25 – Personnel expense up $119 million as higher revenue-related compensation expense primarily in WIM was partially offset by the impact of efficiency initiatives – Non-personnel expense up $320 million, or 7%, as higher advertising expense and technology and equipment expense were partially offset by lower lease and other expense related to the 1Q26 sale of our rail car leasing business, as well as the impact of efficiency initiatives • Noninterest expense up $604 million, or 4%, from 4Q25 – Personnel expense up $516 million on seasonal personnel expense – Non-personnel expense up $88 million, or 2%, including a higher FDIC assessment expense from a 4Q25 which included a ~$200 million FDIC special assessment credit, partially offset by lower professional and outside services expense and lower lease expense Noninterest Expense ($ in millions) Headcount (Period-end, '000s) 1Q25 2Q25 3Q25 4Q25 1Q26 215 213 211 205 201 Endnotes are presented starting on page 22. 1 6121 1 2961
141Q26 Financial Results • Commercial net loan charge-offs up $35 million to 24 bps of average loans (annualized) on higher commercial and industrial net loan charge-offs, partially offset by lower commercial real estate (CRE) net loan charge-offs • Consumer net loan charge-offs up $19 million to 78 bps of average loans (annualized) on seasonally higher credit card net loan charge-offs • Nonperforming assets of $8.8 billion, or 0.86% of total loans, up $265 million, driven by an increase in commercial and industrial nonaccrual loans, partially offset by lower CRE nonaccrual loans 932 1,005 681 1,040 1,135 1,009 997 942 1,046 1,100 Provision for Credit Losses Net Loan Charge-offs Net Loan Charge-off Ratio 1Q25 2Q25 3Q25 4Q25 1Q26 Credit quality Provision for Credit Losses1 and Net Loan Charge-offs ($ in millions) Comparisons in the bullet points are for 1Q26 versus 4Q25. Endnotes are presented starting on page 22. 0.45% 0.44% 0.43%0.40% 1 0.45% 14,552 14,568 14,311 14,337 14,374 7,930 7,835 7,552 7,457 7,529 6,622 6,733 6,759 6,880 6,845 Commercial Consumer Allowance coverage for total loans 1Q25 2Q25 3Q25 4Q25 1Q26 Allowance for Credit Losses for Loans ($ in millions) • Allowance for credit losses (ACL) for loans up $37 million on higher commercial and industrial and auto loan balances, largely offset by a lower allowance for CRE office and credit card loans – Allowance coverage for total loans down 18 bps from 1Q25 and down 4 bps from 4Q25 primarily driven by a reduction in the allowance coverage for CRE office loans 1.58%1.59% 1.52% 1.45% 1.41%
151Q26 Financial Results Capital and liquidity Capital Position • Common Equity Tier 1 (CET1) ratio1 of 10.3% at March 31, 2026 • CET1 ratio down 80 bps from 1Q25 and down 32 bps from 4Q25 – Included a (17) bps decline due to growth in risk-weighted assets and a (7) bps decline due to a decrease in accumulated other comprehensive income driven by higher interest rates and wider agency mortgage- backed securities spreads compared with 4Q25 Capital Return • $4.0 billion in gross common stock repurchases, or 46.3 million shares, in 1Q26; period-end common shares outstanding down 197.4 million, or 6%, from 1Q25 • 1Q26 common stock dividend of $0.45 per share with $1.4 billion in common stock dividends paid Total Loss Absorbing Capacity (TLAC) • As of March 31, 2026, our TLAC as a percentage of total risk-weighted assets3 was 23.0% compared with the required minimum of 21.5% Liquidity Position • Strong liquidity position with a 1Q26 LCR4 of 120% which remained above the regulatory minimum of 100% 11.1% 11.1% 11.0% 10.6% 10.3% 1Q25 2Q25 3Q25 4Q25 1Q26 Estimated 8.5% Regulatory Minimum and Buffers2 Common Equity Tier 1 Ratio under the Standardized Approach1 Endnotes are presented starting on page 22.
161Q26 Financial Results • Total revenue up 7% YoY and down 1% from 4Q25 – CSBB up 9% YoY driven by lower deposit pricing and higher deposit and loan balances, including the impact of the 3Q25 transfer of certain business customers4; down 2% from 4Q25 on lower NII – Credit Card up 5% YoY and included higher NII on higher loan balances – Home Lending down 9% YoY and down 2% from 4Q25 on lower NII on lower loan balances, and lower mortgage banking fees – Auto up 24% YoY and 5% from 4Q25 on higher loan balances • Noninterest expense up 4% YoY driven by higher advertising and promotion expense, as well as the impact of the 3Q25 transfer of certain business customers4 ; up 6% from 4Q25 on seasonal personnel expense and higher advertising and promotion expense Consumer Banking and Lending (CBL) Summary Financials1 $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Revenue by line of business: Consumer, Small and Business Banking (CSBB) $7,019 ($111) 568 Credit Card 1,595 (5) 71 Home Lending 787 (20) (79) Auto 295 13 58 Personal Lending 302 11 (3) Total revenue 9,998 (112) 615 Provision for credit losses 818 (93) 79 Noninterest expense 6,589 351 247 Pre-tax income 2,591 (370) 289 Net income $1,941 ($278) 209 Selected Metrics and Average Balances $ in billions 1Q26 4Q25 1Q25 Return on allocated capital2 23.1 % 18.8 14.9 Efficiency ratio3 66 62 68 Average loans4 $335.3 333.0 321.5 Average deposits4 816.6 807.6 799.9 Retail bank branches (#, period-end) 4,093 4,090 4,155 Mobile active customers5 (# in mm, period-end) 33.5 32.8 31.8 Other Selected Metrics $ in billions 1Q26 4Q25 1Q25 Debit card purchase volume6 $134.3 137.3 126.0 Client assets in advisory and brokerage accounts7 261 265 237 Average Home Lending loans 198.5 200.2 205.5 Mortgage loan originations 6.3 7.5 4.4 Average Credit Card loans 53.0 52.9 50.1 Credit Card purchase volume6, 8 40.0 42.2 36.7 Credit Card new accounts (# in thousands)6, 8 631 710 396 Average Auto loans $52.6 48.7 42.5 Auto loan originations 9.7 10.2 4.6 Endnotes are presented starting on page 22.
171Q26 Financial Results Commercial Banking (CB) In 3Q25, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. • Total revenue up 7% YoY and up 1% from 4Q25 – Net interest income up 1% YoY on higher loan and deposit balances, partially offset by the impact of lower interest rates and the 3Q25 transfer noted above – Noninterest income up 19% YoY on higher revenue from tax credit investments and equity investments • Noninterest expense down 4% YoY due to the impact of the 3Q25 transfer noted above, as well as the impact of efficiency initiatives; up 11% from 4Q25 driven by seasonal personnel expense Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income $1,988 ($5) 11 Noninterest income 1,132 46 184 Total revenue 3,120 41 195 Provision for credit losses 150 45 (37) Noninterest expense 1,608 165 (62) Pre-tax income 1,362 (169) 294 Net income $1,017 ($125) 223 Selected Metrics 1Q26 4Q25 1Q25 Return on allocated capital 15.0 % 16.5 11.4 Efficiency ratio 52 47 57 Average balances ($ in billions) Loans $229.1 224.0 223.8 Deposits 185.9 181.0 182.9
181Q26 Financial Results Corporate and Investment Banking (CIB) • Total revenue up 4% YoY and up 14% from 4Q25 – Banking revenue up 11% YoY on growth in loans and deposits and higher investment banking revenue; up 11% from 4Q25 on higher investment banking revenue and growth in loan balances – Commercial Real Estate revenue down 21% YoY on lower revenue resulting from the sale of our non-agency third party servicing business in 1Q25, partially offset by higher income from our affordable housing business; down 7% from 4Q25 driven by the impact of lower interest rates, lower deposit balances and lower capital market fees – Markets revenue up 19% YoY; up 36% from 4Q25 driven by higher revenue across most asset classes reflecting higher customer activity • Noninterest expense up 9% YoY driven by higher incentive compensation expense and higher professional and outside services expense on higher volume-related expenses, partially offset by the impact of efficiency initiatives; up 15% from 4Q25 driven by seasonal personnel expense Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Revenue by line of business: Banking: Lending $700 $44 82 Treasury Management and Payments 655 7 37 Investment Banking 602 145 68 Total Banking 1,957 196 187 Commercial Real Estate 1,146 (90) (303) Markets: Fixed Income, Currencies and Commodities (FICC) 1,583 419 201 Equities 543 90 95 Credit Adjustment (CVA/DVA/FVA) and Other 47 62 50 Total Markets 2,173 571 346 Other 2 (15) (16) Total revenue 5,278 662 214 Provision for credit losses 175 97 175 Noninterest expense 2,692 345 216 Pre-tax income 2,411 220 (177) Net income $1,809 $170 (132) Selected Metrics 1Q26 4Q25 1Q25 Return on allocated capital 14.9 % 13.8 17.0 Efficiency ratio 51 51 49 Average Balances ($ in billions) Loans by line of business 1Q26 4Q25 1Q25 Banking $117.7 101.0 86.5 Commercial Real Estate 119.5 116.6 117.4 Markets 105.1 95.3 73.4 Total loans $342.3 312.9 277.3 Deposits 214.3 214.5 203.9 Trading-related assets 397.9 364.4 276.4
191Q26 Financial Results Wealth and Investment Management (WIM) Summary Financials1 $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income $905 $37 175 Noninterest income 2,970 17 296 Total revenue 3,875 54 471 Provision for credit losses (10) (1) (21) Noninterest expense 3,262 188 316 Pre-tax income 623 (133) 176 Net income $468 ($97) 119 Selected Metrics $ in billions 1Q26 4Q25 1Q25 Return on allocated capital 28.4 % 33.6 20.9 Efficiency ratio 84 80 87 Average loans $88.4 84.9 80.9 Average deposits 112.1 105.5 102.1 WIM client assets $2,222 2,244 1,996 • Total revenue up 14% YoY and up 1% from 4Q25 – Net interest income up 24% YoY and up 4% from 4Q25 driven by higher deposit and loan balances – Noninterest income up 11% YoY on higher asset-based fees driven by an increase in market valuations • Noninterest expense up 11% YoY on higher revenue-related compensation expense, partially offset by the impact of efficiency initiatives; up 6% from 4Q25 driven by seasonal personnel expense Endnotes are presented starting on page 22.
201Q26 Financial Results Corporate • Revenue decreased YoY on lower net interest income due to the impact of lower interest rates on crediting rates to our operating segments, and lower lease income related to the sale of our rail car leasing business, partially offset by improved results from our venture capital investments. 1Q25 included $149 million of net losses from the repositioning of the investment portfolio • Noninterest expense down YoY and included lower lease and other expense associated with the sale of our rail car leasing business Summary Financials $ in millions 1Q26 vs. 4Q25 vs. 1Q25 Net interest income ($460) ($261) (496) Noninterest income 228 (160) 441 Total revenue (232) (421) (55) Provision for credit losses 2 47 7 Noninterest expense 179 (445) (278) Pre-tax loss (413) (23) 216 Income tax benefit (466) (220) 149 Less: Net income from noncontrolling interests 35 (25) 127 Net income $18 $222 (60)
211Q26 Financial Results Outlook Net Interest Income Noninterest Expense Expect 2026 net interest income (NII) to be +/- $50 billion, unchanged from prior guidance • Expect NII excluding Markets1 to be +/- $48 billion • Expect Markets NII to be +/- $2 billion • Net interest income performance will ultimately be determined by a variety of factors, many of which are uncertain, including the absolute level of rates and the shape of the yield curve; deposit balances, mix and pricing; and loan demand Expect 2026 noninterest expense to be ~$55.7 billion, unchanged from prior guidance Endnotes are presented starting on page 22.
221Q26 Financial Results Endnotes Page 2 – Improved financial results driven by momentum across businesses 1. Source: Dealogic. 2. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. The year-over-year percentage changes for loans and deposits in the Commercial Banking operating segment are calculated assuming the third quarter 2025 transfer occurred during first quarter 2025 to provide a consistent basis of comparison for loan and deposit balances between periods. This assumption had the effect of increasing the year- over-year growth rates for both loans and deposits by three percentage points. For additional information on loans and deposits in the Commercial Banking operating segment, see page 12 of our 1Q26 Quarterly Supplement. Page 3 – 1Q26 results 1. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” table on page 29. 2. The efficiency ratio is noninterest expense divided by total revenue (net interest income and noninterest income). 3. 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. 4. Includes provision for credit losses for loans, debt securities, and other financial assets. 5. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 30 for additional information regarding CET1 capital and ratios. CET1 for March 31, 2026, is a preliminary estimate. 6. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. LCR for March 31, 2026, is a preliminary estimate. 7. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC for March 31, 2026, is a preliminary estimate. Page 4 – 1Q26 earnings 1. Includes provision for credit losses for loans, debt securities, and other financial assets. 2. Tangible common equity and return on average tangible common equity (ROTCE) are non-GAAP financial measures. For additional information, including a corresponding reconciliation to GAAP financial measures, see the “Tangible Common Equity” table on page 29. Page 5 – Net interest income 1. Includes taxable-equivalent adjustments predominantly related to tax-exempt income on certain loans and securities. 2. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the “Net Interest Income Excluding Markets” table on page 28. Page 7 – Financials except banks loans 1. Includes loans for subscription or capital calls and loans to securities firms. 2. Includes asset-based lending and leasing, including loans to special purpose entities, loans to commercial leasing entities, and structured lending facilities to commercial loan managers. 3. Includes originators or servicers of financial assets collateralized by commercial or residential real estate loans. 4. Includes originators or servicers of financial assets collateralized by consumer loans such as auto loans and leases, and credit cards. 5. As of 12/31/2025.
231Q26 Financial Results Page 9 – Financials except banks loans – Commercial Finance 1. As of 2/28/2026. 2. As of 12/31/2025. Page 10 – Financials ex. banks loans – Commercial Finance Corporate Debt Finance 1. As of 1/31/2026. 2. Other industry exposure represents 12 industries with exposures less than 3% each. Page 12 – Noninterest income 1. Investment advisory fees and brokerage commissions includes investment advisory and other asset-based fees and commissions and brokerage services fees. 2. In April 2025, we completed our acquisition of the remaining interest in our merchant services joint venture. Following the acquisition, the revenue from this business has been included in card fees. Prior to the acquisition, our share of the net earnings of the joint venture was included in other noninterest income. 3. All other includes mortgage banking, net gains (losses) from debt securities, net gains (losses) from equity securities, and other. Page 13 – Noninterest expense 1. 4Q25 and 3Q25 total personnel expense of $9.1 billion and $9.0 billion, respectively, included severance expense of $612 million and $296 million, respectively. Page 14 – Credit quality 1. Includes provision for credit losses for loans, debt securities, and other financial assets. Page 15 – Capital and liquidity 1. The Common Equity Tier 1 (CET1) ratio calculated under the Standardized Approach is our binding CET1 framework. See page 30 for additional information regarding CET1 capital and ratios. 1Q26 CET1 is a preliminary estimate. 2. Includes a 4.50% minimum requirement, a stress capital buffer (SCB) of 2.50%, and a G-SIB capital surcharge of 1.50%. 3. Represents total loss absorbing capacity (TLAC) divided by risk-weighted assets (RWAs), which is our binding TLAC ratio, determined by using the greater of RWAs under the Standardized and Advanced Approaches. TLAC is a preliminary estimate. 4. Liquidity coverage ratio (LCR) represents average high-quality liquid assets divided by average projected net cash outflows, as each is defined under the LCR rule. 1Q26 LCR is a preliminary estimate. Endnotes (continued)
241Q26 Financial Results Page 16 – Consumer Banking and Lending (CBL) 1. In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been revised to conform with the current period presentation. 2. Return on allocated capital is segment net income (loss) applicable to common stock divided by segment average allocated capital. Segment net income (loss) applicable to common stock is segment net income (loss) less allocated preferred stock dividends. 3. Efficiency ratio is segment noninterest expense divided by segment total revenue. 4. In third quarter 2025, we prospectively transferred approximately $8 billion of loans and approximately $6 billion of deposits related to certain business customers from the Commercial Banking operating segment to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. 5. Mobile active customers is the number of consumer and small business customers who have logged on via a mobile device in the prior 90 days. 6. Reflects combined activity for consumer and small business customers. 7. In first quarter 2026, we moved the client assets, including advisory and other brokerage assets and deposits, associated with clients who receive wealth management and financial planning services in our consumer bank branches from the Wealth and Investment Management operating segment to Consumer, Small and Business Banking. Prior period balances have been included to conform with the current period presentation. 8. In first quarter 2026, credit card metrics were revised to exclude co-branded cards. Prior period balances have been revised to conform with the current period presentation. Page 19 – Wealth and Investment Management (WIM) 1. In first quarter 2026, we moved the revenue, noninterest expense, loans, and deposits associated with clients who receive wealth management and financial planning services in our consumer bank branches to Consumer, Small and Business Banking in the Consumer Banking and Lending operating segment. Prior period balances have been revised to conform with the current period presentation. Page 21 – Outlook 1. Net interest income excluding Markets is a non-GAAP financial measure. For additional information, including a corresponding reconciliation to a GAAP financial measure, see the “Net Interest Income Excluding Markets” table on page 28. Endnotes (continued)
251Q26 Financial Results Appendix
261Q26 Financial Results Reconciliation of call report to financials except banks loans • Bank regulators require reporting of non-depository financial institutions (NDFI) loans in the quarterly call report based on specific instructions and definitions with classifications generally driven by the customer's primary business purpose • We report financials except banks loans in our SEC financial disclosures with classifications generally driven by the primary source of repayment • These classification differences contribute to differences in reported amounts. The call report for first quarter 2026 has not yet been filed, so the reconciliation below is as of 12/31/2025 Call Report NDFI Loans vs. Financials Except Banks Loans as of 12/31/2025 ($ in billions) $212.1 $193.0 NDFI Loans in the Call Report Financials Except Banks Loans Loans in real estate and construction industry category Loans in auto related industry category Loans in other industry categories $69.7 Asset Managers and Funds $61.0 Commercial Finance $34.5 Real Estate Finance $27.8 Consumer Finance $24.0 Consumer credit intermediaries $38.1 Mortgage credit intermediaries $51.2 Private equity funds $71.0 Business credit intermediaries $27.8 Other NDFI loans
271Q26 Financial Results Reconciliation of call report business credit intermediary loans to commercial finance loans NDFI Business Credit Intermediary Loans vs. Financials Except Banks - Commercial Finance Loans as of 12/31/2025 ($ in billions) $71.0 $61.0 Reported in Asset Managers and Funds loans (see page 8) Other loansReported in Consumer Finance loans (see page 7) $36.4 Corporate Debt Finance (see page 10) $24.6 Other Commercial Finance Loans (see page 9) Financials Except Banks – Commercial Finance Loans Business Credit Intermediary Loans in the Call Report • In the call report, business credit intermediary loans is our biggest category of NDFI loans. A reconciliation of that portfolio to commercial finance loans within our financials except banks loans is provided below $24.0 Consumer credit intermediaries $38.1 Mortgage credit intermediaries $51.2 Private equity funds $71.0 Business credit intermediaries $27.8 Other NDFI loans $212.1 NDFI Loans in the Call Report
281Q26 Financial Results Net Interest Income Excluding Markets Quarter ended Mar 31, 2026 % Change from ($ in millions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2025 Mar 31, 2025 Net interest income $ 12,096 12,331 11,950 11,708 11,495 (2) % 5 Markets net interest income 481 358 144 104 131 34 267 Net interest income excluding Markets $ 11,615 11,973 11,806 11,604 11,364 (3) 2 Wells Fargo & Company and Subsidiaries NET INTEREST INCOME EXCLUDING MARKETS We also evaluate the Company’s net interest income excluding the net interest income of the Corporate and Investment Banking Markets (Markets) line of business. Markets net interest income includes interest income earned on the assets and interest expense paid on the liabilities of the line of business, as well as funding charges and credits using our funds transfer pricing methodology. Net interest income excluding Markets is a non-GAAP financial measure that management believes is useful because it enables management, investors, and others to assess the net interest income from the Company's lending, investing, and deposit-raising activities without the volatility that may be associated with Markets activities. The table below provides a reconciliation of this non-GAAP financial measure to a GAAP financial measure.
291Q26 Financial Results Tangible Common Equity Wells Fargo & Company and Subsidiaries TANGIBLE COMMON EQUITY We also evaluate our business based on certain ratios that utilize tangible common equity. Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling interests, goodwill, certain identifiable intangible assets (other than MSRs) and goodwill and other intangibles on venture capital investments in consolidated portfolio companies, net of applicable deferred taxes. One of these ratios is return on average tangible common equity (ROTCE), which represents our annualized earnings as a percentage of tangible common equity. The methodology of determining tangible common equity may differ among companies. Management believes that return on average tangible common equity, which utilizes tangible common equity, is a useful financial measure because it enables management, investors, and others to assess the Company’s use of equity. The table below provides a reconciliation of this non-GAAP financial measure to GAAP financial measures. Quarter ended ($ in millions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Return on average tangible common equity: Net income applicable to common stock (A) $5,000 5,114 5,341 5,214 4,616 Average total equity 183,693 183,844 183,428 183,268 183,358 Adjustments: Preferred stock (16,333) (16,608) (16,608) (18,278) (18,608) Additional paid-in capital on preferred stock 140 141 141 143 145 Noncontrolling interests (1,915) (1,879) (1,850) (1,818) (1,894) Average common stockholders’ equity (B) 165,585 165,498 165,111 163,315 163,001 Adjustments: Goodwill (24,967) (25,055) (25,070) (25,070) (25,135) Certain identifiable intangible assets (other than MSRs) (788) (847) (889) (863) (69) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (705) (698) (674) (674) (734) Applicable deferred taxes related to goodwill and other intangible assets1 1,063 1,063 1,061 989 952 Average tangible common equity (C) $140,188 139,961 139,539 137,697 138,015 Return on average common stockholders’ equity (ROE) (annualized) (A)/(B) 12.2 % 12.3 12.8 12.8 11.5 Return on average tangible common equity (ROTCE) (annualized) (A)/(C) 14.5 14.5 15.2 15.2 13.6 1. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end.
301Q26 Financial Results 1. The Basel III capital rules provide for two capital frameworks (the Standardized Approach and the Advanced Approach applicable to certain institutions), and we must calculate our CET1, Tier 1 capital and total capital ratios under both approaches. 2. Determined by applying the combined federal statutory rate and composite state income tax rates to the difference between book and tax basis of the respective goodwill and intangible assets at period-end. Common Equity Tier 1 under Basel III Wells Fargo & Company and Subsidiaries RISK-BASED CAPITAL RATIOS UNDER BASEL III1 Estimated ($ in billions) Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Total equity $180.3 183.0 183.0 183.0 182.9 Adjustments: Preferred stock (15.3) (16.6) (16.6) (16.6) (18.6) Additional paid-in capital on preferred stock 0.1 0.1 0.2 0.1 0.1 Noncontrolling interests (1.9) (1.8) (1.9) (1.9) (1.8) Total common stockholders' equity 163.2 164.7 164.7 164.6 162.6 Adjustments: Goodwill (25.0) (25.0) (25.1) (25.1) (25.1) Certain identifiable intangible assets (other than MSRs) (0.8) (0.8) (0.9) (0.9) (0.1) Goodwill and other intangibles on venture capital investments in consolidated portfolio companies (included in other assets) (0.7) (0.7) (0.7) (0.7) (0.7) Applicable deferred taxes related to goodwill and other intangible assets2 1.1 1.1 1.1 1.1 1.0 Other (2.4) (2.0) (2.5) (2.6) (2.1) Common Equity Tier 1 (A) $135.4 137.3 136.6 136.4 135.6 Total risk-weighted assets (RWAs) under the Standardized Approach (B) 1,315.6 1,294.6 1,242.4 1,225.9 1,222.0 Total RWAs under the Advanced Approach (C) 1,124.5 1,112.5 1,072.2 1,070.4 1,063.6 Common Equity Tier 1 to total RWAs under the Standardized Approach (A)/(B) 10.3 % 10.6 11.0 11.1 11.1 Common Equity Tier 1 to total RWAs under the Advanced Approach (A)/(C) 12.0 12.4 12.7 12.7 12.7
311Q26 Financial Results Disclaimer and forward-looking statements Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information. This document contains forward-looking statements. In addition, we may make forward-looking statements in our other documents filed or furnished with the Securities and Exchange Commission, 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 or any of its businesses, including our outlook for future growth; (ii) our expectations regarding noninterest expense and our efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses, our allowance for credit losses, and the economic scenarios considered to develop the allowance; (iv) our expectations regarding net interest income and net interest margin; (v) loan growth or the reduction or mitigation of risk in our loan portfolios; (vi) future capital or liquidity levels, ratios or targets; (vii) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (viii) future common stock dividends, common share repurchases and other uses of capital; (ix) our targeted range for return on assets, return on equity, and return on tangible common equity; (x) expectations regarding our effective income tax rate; (xi) the outcome of contingencies, such as legal actions; (xii) sustainability and governance related goals or commitments; 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. Investors are urged to not unduly rely on forward-looking statements as actual results may differ materially from expectations. Forward-looking statements speak only as of the date made, and we do not undertake to update them to reflect changes or events that occur after that date. For additional information about factors that could cause actual results to differ materially from our expectations, refer to the “Forward-Looking Statements” discussion in Wells Fargo’s press release announcing our first quarter 2026 results and in our most recent Quarterly Report on Form 10-Q, as well as to Wells Fargo’s other 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, 2025.
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No definition available.
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- Definition
Name of the state or province.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
Indicate if registrant meets the emerging growth company criteria.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.
+ References
No definition available.
+ Details
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- Definition
Two-character EDGAR code representing the state or country of incorporation.
+ References
No definition available.
+ Details
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- Definition
Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.
+ References
No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection b-2
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- Definition
The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
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- Definition
Local phone number for entity.
+ References
No definition available.
+ Details
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 13e
-Subsection 4c
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
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-Section 14d
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- Definition
Title of a 12(b) registered security.
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-Name Exchange Act
-Number 240
-Section 12
-Subsection b
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- Definition
Name of the Exchange on which a security is registered.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 12
-Subsection d1-1
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Exchange Act
-Number 240
-Section 14a
-Subsection 12
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- Definition
Trading symbol of an instrument as listed on an exchange.
+ References
No definition available.
+ Details
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- Definition
Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.
+ References
Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher SEC
-Name Securities Act
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-Section 425
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