Attached files
Exhibit (99)
Wells Fargo & Company
Supplementary Consolidating Financial Information
(Unaudited)
As of March 31, 2011 and For the Three Months Ended March 31, 2011
The “Bank” as noted herein refers to Wells Fargo Bank, National Association
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Wells Fargo & Company
Supplementary Consolidating Income Statement Information (Unaudited)
| Three months ended March 31, 2011 | ||||||||||||
| (in millions) | The Bank | Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Interest income |
||||||||||||
| Trading assets |
$ | 68 | 282 | 350 | ||||||||
| Securities available for sale |
1,917 | 247 | 2,164 | |||||||||
| Mortgages held for sale |
253 | 184 | 437 | |||||||||
| Loans held for sale |
11 | 1 | 12 | |||||||||
| Loans |
8,096 | 1,291 | 9,387 | |||||||||
| Other interest income |
344 | (222 | ) | 122 | ||||||||
| Total interest income |
10,689 | 1,783 | 12,472 | |||||||||
| Interest expense |
||||||||||||
| Deposits |
582 | 33 | 615 | |||||||||
| Short-term borrowings |
17 | 9 | 26 | |||||||||
| Long-term debt |
363 | 741 | 1,104 | |||||||||
| Other interest expense |
58 | 18 | 76 | |||||||||
| Total interest expense |
1,020 | 801 | 1,821 | |||||||||
| Net interest income |
9,669 | 982 | 10,651 | |||||||||
| Provision for credit losses |
1,916 | 294 | 2,210 | |||||||||
| Net interest income after provision for credit losses |
7,753 | 688 | 8,441 | |||||||||
| Noninterest income |
||||||||||||
| Service charges on deposit accounts |
1,014 | (2 | ) | 1,012 | ||||||||
| Trust and investment fees |
562 | 2,354 | 2,916 | |||||||||
| Card fees |
931 | 26 | 957 | |||||||||
| Other fees |
873 | 116 | 989 | |||||||||
| Mortgage banking |
2,044 | (28 | ) | 2,016 | ||||||||
| Insurance |
15 | 488 | 503 | |||||||||
| Net gains from trading activities |
502 | 110 | 612 | |||||||||
| Net gains (losses) on debt securities available for sale |
(108 | ) | (58 | ) | (166 | ) | ||||||
| Net gains from equity investments |
72 | 281 | 353 | |||||||||
| Operating leases |
76 | 1 | 77 | |||||||||
| Other |
534 | (125 | ) | 409 | ||||||||
| Total noninterest income |
6,515 | 3,163 | 9,678 | |||||||||
| Noninterest expense |
||||||||||||
| Salaries |
3,021 | 433 | 3,454 | |||||||||
| Commission and incentive compensation |
920 | 1,427 | 2,347 | |||||||||
| Employee benefits |
1,048 | 344 | 1,392 | |||||||||
| Equipment |
601 | 31 | 632 | |||||||||
| Net occupancy |
649 | 103 | 752 | |||||||||
| Core deposit and other intangibles |
461 | 22 | 483 | |||||||||
| FDIC and other deposit assessments |
286 | 19 | 305 | |||||||||
| Other |
2,645 | 723 | 3,368 | |||||||||
| Total noninterest expense |
9,631 | 3,102 | 12,733 | |||||||||
| Income before income tax expense |
4,637 | 749 | 5,386 | |||||||||
| Income tax expense |
1,550 | 22 | 1,572 | |||||||||
| Net income before noncontrolling interests |
3,087 | 727 | 3,814 | |||||||||
| Less: Net income from noncontrolling interests |
47 | 8 | 55 | |||||||||
| Net income |
$ | 3,040 | 719 | 3,759 | ||||||||
| Net income applicable to common stock |
$ | 3,040 | 530 | 3,570 | ||||||||
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Wells Fargo & Company
Supplementary Consolidating Balance Sheet Information (Unaudited)
| March 31, 2011 | ||||||||||||
| (in millions) | The Bank | Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Assets |
||||||||||||
| Cash and due from banks |
$ | 17,369 | (391 | ) | 16,978 | |||||||
| Federal funds sold, securities purchased under |
91,941 | 1,100 | 93,041 | |||||||||
| Trading assets |
34,595 | 23,295 | 57,890 | |||||||||
| Securities available for sale |
145,551 | 22,355 | 167,906 | |||||||||
| Mortgages held for sale |
18,031 | 15,090 | 33,121 | |||||||||
| Loans held for sale |
1,377 | 51 | 1,428 | |||||||||
| Loans |
686,307 | 64,848 | 751,155 | |||||||||
| Allowance for loan losses |
(18,779 | ) | (3,204 | ) | (21,983 | ) | ||||||
| Net loans |
667,528 | 61,644 | 729,172 | |||||||||
| Mortgage servicing rights: |
||||||||||||
| Measured at fair value |
15,937 | (289 | ) | 15,648 | ||||||||
| Amortized |
1,424 | (1 | ) | 1,423 | ||||||||
| Premises and equipment, net |
8,062 | 1,483 | 9,545 | |||||||||
| Goodwill |
20,936 | 3,841 | 24,777 | |||||||||
| Other assets |
70,279 | 23,458 | 93,737 | |||||||||
| Total assets |
$ | 1,093,030 | 151,636 | 1,244,666 | ||||||||
| Liabilities |
||||||||||||
| Noninterest-bearing deposits |
$ | 173,633 | 17,326 | 190,959 | ||||||||
| Interest-bearing deposits |
669,604 | (22,901 | ) | 646,703 | ||||||||
| Total deposits |
843,237 | (5,575 | ) | 837,662 | ||||||||
| Short-term borrowings |
27,894 | 26,843 | 54,737 | |||||||||
| Accrued expenses and other liabilities |
54,398 | 14,323 | 68,721 | |||||||||
| Long-term debt |
42,317 | 106,286 | 148,603 | |||||||||
| Total liabilities |
967,846 | 141,877 | 1,109,723 | |||||||||
| Equity |
||||||||||||
| Wells Fargo stockholders’ equity: |
||||||||||||
| Preferred stock |
- | 11,897 | 11,897 | |||||||||
| Common stock |
519 | 8,335 | 8,854 | |||||||||
| Additional paid-in capital |
98,980 | (44,165 | ) | 54,815 | ||||||||
| Retained earnings |
19,029 | 35,826 | 54,855 | |||||||||
| Cumulative other comprehensive income (loss) |
5,381 | (360 | ) | 5,021 | ||||||||
| Treasury stock |
- | (541 | ) | (541 | ) | |||||||
| Unearned ESOP shares |
- | (1,430 | ) | (1,430 | ) | |||||||
| Total stockholders’ equity |
123,909 | 9,562 | 133,471 | |||||||||
| Noncontrolling interests |
1,275 | 197 | 1,472 | |||||||||
| Total equity |
125,184 | 9,759 | 134,943 | |||||||||
| Total liabilities and equity |
$ | 1,093,030 | 151,636 | 1,244,666 | ||||||||
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Wells Fargo & Company
Supplementary Consolidating Statement of Changes in Stockholders’ Equity Information (Unaudited)
| Three months ended March 31, 2011 | ||||||||||||
| (in millions) | The Bank | Other subsidiaries and eliminations |
Wells Fargo Consolidated |
|||||||||
| Preferred stock |
||||||||||||
| Balance, December 31, 2010 |
$ | - | 8,689 | 8,689 | ||||||||
| Preferred stock issued to ESOP |
- | 1,200 | 1,200 | |||||||||
| Preferred stock converted to common shares |
- | (493 | ) | (493 | ) | |||||||
| Preferred stock issued |
- | 2,501 | 2,501 | |||||||||
| Balance, March 31, 2011 |
- | 11,897 | 11,897 | |||||||||
| Common stock |
||||||||||||
| Balance, December 31, 2010 |
519 | 8,268 | 8,787 | |||||||||
| Issued/converted |
- | 67 | 67 | |||||||||
| Balance, March 31, 2011 |
519 | 8,335 | 8,854 | |||||||||
| Additional paid-in capital |
||||||||||||
| Balance, December 31, 2010 |
98,971 | (45,545 | ) | 53,426 | ||||||||
| Business combinations |
(26 | ) | 26 | - | ||||||||
| Capital infusion |
35 | (35 | ) | - | ||||||||
| Noncontrolling interests |
- | (35 | ) | (35 | ) | |||||||
| Common stock issued |
- | 593 | 593 | |||||||||
| Preferred stock issued to ESOP |
- | 102 | 102 | |||||||||
| Preferred stock released to ESOP |
- | (42 | ) | (42 | ) | |||||||
| Preferred stock converted to common shares |
- | 467 | 467 | |||||||||
| Common stock dividends |
- | 4 | 4 | |||||||||
| Tax benefit upon exercise of stock options |
- | 54 | 54 | |||||||||
| Stock option compensation expense |
- | 261 | 261 | |||||||||
| Net change in deferred compensation and related plans |
- | (15 | ) | (15 | ) | |||||||
| Balance, March 31, 2011 |
98,980 | (44,165 | ) | 54,815 | ||||||||
| Retained earnings |
||||||||||||
| Balance, December 31, 2010 |
17,489 | 34,429 | 51,918 | |||||||||
| Net income |
3,040 | 719 | 3,759 | |||||||||
| Common stock dividends |
(1,500 | ) | 862 | (638 | ) | |||||||
| Preferred stock dividends |
- | (184 | ) | (184 | ) | |||||||
| Balance, March 31, 2011 |
19,029 | 35,826 | 54,855 | |||||||||
| Cumulative other comprehensive income |
||||||||||||
| Balance, December 31, 2010 |
5,280 | (542 | ) | 4,738 | ||||||||
| Other comprehensive income |
101 | (86 | ) | 15 | ||||||||
| Unrealized losses related to factors other than credit |
- | 352 | 352 | |||||||||
| Net unrealized gains on securities available for sale |
- | (99 | ) | (99 | ) | |||||||
| Net unrealized gains on derivatives and hedging activities |
- | 15 | 15 | |||||||||
| Balance, March 31, 2011 |
5,381 | (360 | ) | 5,021 | ||||||||
| Treasury stock |
||||||||||||
| Balance, December 31, 2010 |
- | (487 | ) | (487 | ) | |||||||
| Common stock repurchased . |
- | (55 | ) | (55 | ) | |||||||
| Net change in deferred compensation and related plans |
- | 1 | 1 | |||||||||
| Balance, March 31, 2011 |
- | (541 | ) | (541 | ) | |||||||
| Unearned ESOP shares |
||||||||||||
| Balance, December 31, 2010 |
- | (663 | ) | (663 | ) | |||||||
| Preferred stock issued to ESOP |
- | (1,302 | ) | (1,302 | ) | |||||||
| Preferred stock released to ESOP |
- | 535 | 535 | |||||||||
| Balance, March 31, 2011 |
- | (1,430 | ) | (1,430 | ) | |||||||
| Total Wells Fargo stockholders’ equity |
||||||||||||
| Balance, December 31, 2010 |
122,259 | 4,149 | 126,408 | |||||||||
| Balance, March 31, 2011 |
123,909 | 9,562 | 133,471 | |||||||||
| Noncontrolling interests |
||||||||||||
| Balance, December 31, 2010 |
1,303 | 178 | 1,481 | |||||||||
| Net income |
47 | 8 | 55 | |||||||||
| Translation adjustments |
- | (4 | ) | (4 | ) | |||||||
| Noncontrolling interests |
(75 | ) | 15 | (60 | ) | |||||||
| Balance, March 31, 2011 |
1,275 | 197 | 1,472 | |||||||||
| Total stockholders’ equity, March 31, 2011 |
$ | 125,184 | 9,759 | 134,943 | ||||||||
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