WACHOVIA PREFERRED FUNDING CORP - FORM 10-Q - EX-99 - WELLS FARGO SUPPLEMENTARY CONSOLIDATIONG FINANCIAL INFORMATION

Attached files

file	filename
10-Q - FORM 10-Q - WACHOVIA PREFERRED FUNDING CORP	d10q.htm
EX-32.A - SECTION 906 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORP	dex32a.htm
EX-31.A - SECTION 302 CEO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORP	dex31a.htm
EX-32.B - SECTION 906 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORP	dex32b.htm
EX-31.B - SECTION 302 CFO CERTIFICATION - WACHOVIA PREFERRED FUNDING CORP	dex31b.htm
EX-12.A - COMPUTATION OF CONSOLIDATED RATIOS OF EARNINGS TO FIXED CHARGES - WACHOVIA PREFERRED FUNDING CORP	dex12a.htm
EX-12.B - COMPUTATION OF CONSOLIDATED RATIOS OF EARNING TO FIXED CHARGES AND PREFERRED - WACHOVIA PREFERRED FUNDING CORP	dex12b.htm

Exhibit (99)

Wells Fargo & Company

Supplementary Consolidating Financial Information

(Unaudited)

As of June 30, 2010 and

For the Six Months Ended June 30, 2010

The “Bank” as noted herein refers to Wells Fargo Bank, National Association

WELLS FARGO & COMPANY

Supplementary Consolidating Income Statement Information

(Unaudited)


	Six months ended June 30, 2010
(in millions)	The Bank			Other subsidiaries and eliminations		Wells Fargo Consolidated
Interest income
Trading assets	$	143		390		533
Securities available for sale		4,316		484		4,800
Mortgages held for sale		450		342		792
Loans held for sale		64		-		64
Loans		17,707		2,608		20,315
Other interest income		242		(49	)	193
Total interest income		22,922		3,775		26,697
Interest expense
Deposits		1,369		80		1,449
Short-term borrowings		35		4		39
Long-term debt		935		1,574		2,509
Other interest expense		109		(5	)	104
Total interest expense		2,448		1,653		4,101
Net interest income		20,474		2,122		22,596
Provision for credit losses		8,264		1,055		9,319
Net interest income after provision for credit losses		12,210		1,067		13,277
Noninterest income
Service charges on deposit accounts		2,754		(5	)	2,749
Trust and investment fees		1,056		4,356		5,412
Card fees		1,718		58		1,776
Other fees		1,702		221		1,923
Mortgage banking		4,449		32		4,481
Insurance		46		1,119		1,165
Net gains (losses) from trading activities		(433	)	1,079		646
Net gains (losses) on debt securities available for sale		(3	)	61		58
Net gains (losses) from equity investments		(1	)	332		331
Operating leases		512		2		514
Other		2,332		(1,141	)	1,191
Total noninterest income		14,132		6,114		20,246
Noninterest expense
Salaries		6,027		851		6,878
Commission and incentive compensation		1,849		2,368		4,217
Employee benefits		2,318		67		2,385
Equipment		1,190		76		1,266
Net occupancy		1,286		252		1,538
Core deposit and other intangibles		1,049		53		1,102
FDIC and other deposit assessments		562		34		596
Other		4,988		1,893		6,881
Total noninterest expense		19,269		5,594		24,863
Income before income tax expense		7,073		1,587		8,660
Income tax expense		2,394		521		2,915
Net income before noncontrolling interests		4,679		1,066		5,745
Less: Net income from noncontrolling interests		128		8		136
Net income	$	4,551		1,058		5,609
Net income applicable to common stock	$	4,551		699		5,250

WELLS FARGO & COMPANY

Supplementary Consolidating Balance Sheet Information

(Unaudited)


	June 30, 2010
(in millions)	The Bank			Other subsidiaries and eliminations		Wells Fargo Consolidated
Assets
Cash and due from banks	$	18,090		(519	)	17,571
Federal funds sold, securities purchased under resale agreements and other short-term investments		69,167		4,731		73,898
Trading assets		32,627		14,505		47,132
Securities available for sale		136,426		21,501		157,927
Mortgages held for sale		22,971		15,610		38,581
Loans held for sale		3,965		34		3,999

Loans		697,216		69,049		766,265
Allowance for loan losses		(20,992	)	(3,592	)	(24,584	)

Net loans		676,224		65,457		741,681

Mortgage servicing rights:
Measured at fair value (residential MSRs)		13,532		(281	)	13,251
Amortized		1,038		(1	)	1,037
Premises and equipment, net		8,206		2,302		10,508
Goodwill		21,005		3,815		24,820
Other assets		70,029		25,428		95,457

Total assets	$	1,073,280		152,582		1,225,862

Liabilities
Noninterest-bearing deposits	$	155,475		19,540		175,015
Interest-bearing deposits		661,632		(21,024	)	640,608

Total deposits		817,107		(1,484	)	815,623
Short-term borrowings		31,639		13,548		45,187
Accrued expenses and other liabilities		45,619		12,963		58,582
Long-term debt		53,723		131,349		185,072

Total liabilities		948,088		156,376		1,104,464

Equity
Wells Fargo stockholders’ equity:
Preferred stock		-		8,980		8,980
Common stock		519		8,224		8,743
Additional paid-in capital		98,774		(46,087	)	52,687
Retained earnings		19,082		27,044		46,126
Cumulative other comprehensive income (loss)		5,510		(666	)	4,844
Treasury stock		-		(631	)	(631	)
Unearned ESOP shares		-		(977	)	(977	)

Total stockholders’ equity		123,885		(4,113	)	119,772
Noncontrolling interests		1,307		319		1,626

Total equity		125,192		(3,794	)	121,398

Total liabilities and equity	$	1,073,280		152,582		1,225,862

WELLS FARGO & COMPANY

Supplementary Consolidating Statement of Changes in Stockholders’ Equity Information

(Unaudited)


	Six months ended June 30, 2010
(in millions)	The Bank			Other subsidiaries and eliminations		Wells Fargo Consolidated
Preferred stock
Balance, December 31, 2009	$	-		8,485		8,485
Preferred stock issued to ESOP		-		1,000		1,000
Preferred stock converted to common shares		-		(505	)	(505	)
Balance, June 30, 2010		-		8,980		8,980
Common stock
Balance, December 31, 2009		520		8,223		8,743
Capital stock		(1	)	1		-
Balance, June 30, 2010		519		8,224		8,743
Additional paid-in capital
Balance, December 31, 2009		38,209		14,669		52,878
Business combinations		60,793		(60,793	)	-
Capital infusion		59		(59	)	-
Capital stock		(287	)	287		-
Noncontrolling interests		-		17		17
Common stock issued		-		21		21
Preferred stock issued to ESOP		-		80		80
Preferred stock released to ESOP		-		(40	)	(40	)
Preferred stock converted to common shares		-		(62	)	(62	)
Common stock warrants purchased		-		(540	)	(540	)
Common stock dividends		-		2		2
Tax benefit upon exercise of stock options		-		76		76
Stock option compensation expense		-		67		67
Net change in deferred compensation and related plans		-		188		188
Balance, June 30, 2010		98,774		(46,087	)	52,687
Retained earnings
Balance, December 31, 2009		17,234		24,329		41,563
Cumulative effect from change in accounting for VIEs		170		13		183
Net income		4,551		1,058		5,609
Business combinations		1,927		(1,927	)	-
Common stock issued		-		(338	)	(338	)
Common stock dividends		(4,800	)	4,278		(522	)
Preferred stock dividends		-		(369	)	(369	)
Balance, June 30, 2010		19,082		27,044		46,126
Cumulative other comprehensive income
Balance, December 31, 2009		452		2,557		3,009
Other comprehensive income		5,058		(5,058	)	-
Translation adjustments		-		(13	)	(13	)
Unrealized losses related to factors other than credit		-		-		-
All other net unrealized gains, net of reclassification of net gains included in net income		-		1,672		1,672
Net unrealized losses on derivatives and hedging activities		-		144		144
Unamortized gains under defined benefit plans, net of amortization		-		32		32
Balance, June 30, 2010		5,510		(666	)	4,844
Treasury stock
Balance, December 31, 2009		-		(2,450	)	(2,450	)
Common stock issued		-		1,182		1,182
Common stock repurchased		-		(68	)	(68	)
Preferred stock converted to common shares		-		567		567
Net change in deferred compensation and related plans		-		138		138
Balance, June 30, 2010		-		(631	)	(631	)
Unearned ESOP shares
Balance, December 31, 2009		-		(442	)	(442	)
Preferred stock issued to ESOP		-		(1,080	)	(1,080	)
Preferred stock released to ESOP		-		545		545
Balance, June 30, 2010		-		(977	)	(977	)
Total Wells Fargo stockholders’ equity
Balance, December 31, 2009		56,415		55,371		111,786
Balance, June 30, 2010		123,885		(4,113	)	119,772
Noncontrolling interests
Balance, December 31, 2009		178		2,395		2,573
Business combinations		1,425		(1,425	)	-
Net income		128		8		136
Translation adjustments		-		(1	)	(1	)
All other net unrealized gains, net of reclassification of net gains included in net income		-		11		11
Noncontrolling interests		(424	)	(669	)	(1,093	)
Balance, June 30, 2010		1,307		319		1,626
Total stockholders’ equity, June 30, 2010	$	125,192		(3,794	)	121,398

Attached files

WACHOVIA PREFERRED FUNDING CORP Reports

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