Wells Fargo & Co

Latest Results (13.07.2026):

Wells Fargo & Co — First Quarter 2026: Net income was $5.3 billion, or $1.60 per diluted share, on total revenue of $21.446 billion. Year‑over‑year, diluted EPS rose 15% and revenue increased 6%, while average loans grew to $996.0 billion and average deposits to $1,415.0 billion. Results are reported as preliminary and will be finalized in the Form 10‑Q.

Earnings

Net income: $5.253 billion; diluted EPS: $1.60 (up 15% vs. 1Q25). Income tax expense included $135 million of discrete tax benefits ($0.04 per share) related to prior period matters.

Revenue & margins

Total revenue $21.446 billion, up 6% YoY — net interest income $12.096 billion (up 5%) and noninterest income $9.350 billion (up 8%). Taxable-equivalent net interest margin was 2.47% (down vs. prior periods).

Balance sheet growth

Average loans rose 10% YoY to $996.0 billion (11% higher on certain measures noted by management) and average deposits increased 6% YoY to $1,415.0 billion.

Credit quality

Net loan charge-offs were $1.106 billion (annualized 0.45% of average loans), essentially stable with the prior year; allowance for credit losses was $14.374 billion (1.41% of total loans). Nonperforming assets were $8.768 billion (0.86% of loans).

Capital, returns & efficiency

Common Equity Tier 1 (CET1) ratio ~10.3% (preliminary); return on equity 12.2%; ROTCE 14.5%; efficiency ratio 67%. The company repurchased 46.3 million shares for $4.0 billion in 1Q26.

Operating segment highlights

All four reportable segments posted revenue growth YoY: Consumer Banking & Lending +7%, Commercial Banking +7%, Corporate & Investment Banking revenue up 11% in Banking and +19% in Markets, and Wealth & Investment Management +14% (client assets $2.483 trillion, up ~11% YoY per management).

Notable items & disclosure

1Q26 included $135 million discrete tax benefit and improved venture-capital results; prior‑period 1Q25 included a $263 million gain on the sale of commercial mortgage servicing and $149 million of repositioning losses. Management noted results are preliminary and subject to change in the Form 10‑Q.