10-K.Info (Beta Test) Courtesy of Short Sands, LLC | ||||||||||||||
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10-K.Info (Beta Test) Courtesy of Short Sands, LLC | |||
WELLS FARGO & COMPANY/MN | |||
Ticker: WFC Fiscal Year: 2009 | |||
Consolidated Statement of Income | |||
Period Ending Dec 31, 2009 10-K (Filed: Feb 26, 2010) | |||
| (In Millions, except shares in Thousands) | |||
| 12 Months Ended | 12 Months Ended | 12 Months Ended | |
| Dec 31, 2009 | Dec 31, 2008 | Dec 31, 2007 | |
| Interest income | |||
| Trading assets | $ 918 | 177 | 173 |
| Securities available for sale | 11,319 | 5,287 | 3,451 |
| Mortgages held for sale | 1,930 | 1,573 | 2,150 |
| Loans held for sale | 183 | 48 | 70 |
| Loans | 41,589 | 27,632 | 29,040 |
| Other interest income | 335 | 181 | 293 |
| Total interest income | 56,274 | 34,898 | 35,177 |
| Interest expense | |||
| Deposits | 3,774 | 4,521 | 8,152 |
| Short-term borrowings | 222 | 1,478 | 1,245 |
| Long-term debt | 5,782 | 3,756 | 4,806 |
| Other interest expense | 172 | 0 | 0 |
| Total interest expense | 9,950 | 9,755 | 14,203 |
| Net interest income | 46,324 | 25,143 | 20,974 |
| Provision for credit losses | 21,668 | 15,979 | 4,939 |
| Net interest income after provision for credit losses | 24,656 | 9,164 | 16,035 |
| Noninterest income | |||
| Service charges on deposit accounts | 5,741 | 3,190 | 3,050 |
| Trust and investment fees | 9,735 | 2,924 | 3,149 |
| Card fees | 3,683 | 2,336 | 2,136 |
| Other fees | 3,804 | 2,097 | 2,292 |
| Mortgage banking | 12,028 | 2,525 | 3,133 |
| Insurance | 2,126 | 1,830 | 1,530 |
| Net gains from trading activities | 2,674 | 275 | 544 |
| Net gains (losses) on debt securities available for sale (includes impairment losses of $1,012, consisting of $2,352 of total other-than-temporary impairment losses, net of $1,340 recognized in other comprehensive income, for the year ended December 31, 2009) | (127) | 1,037 | 209 |
| Net gains (losses) from equity investments (includes impairment losses of $655 for the year ended December 31, 2009) | 185 | (757) | 864 |
| Operating leases | 685 | 427 | 703 |
| Other | 1,828 | 850 | 936 |
| Total noninterest income | 42,362 | 16,734 | 18,546 |
| Noninterest expense | |||
| Salaries | 13,757 | 8,260 | 7,762 |
| Commission and incentive compensation | 8,021 | 2,676 | 3,284 |
| Employee benefits | 4,689 | 2,004 | 2,322 |
| Equipment | 2,506 | 1,357 | 1,294 |
| Net occupancy | 3,127 | 1,619 | 1,545 |
| Core deposit and other intangibles | 2,577 | 186 | 158 |
| FDIC and other deposit assessments | 1,849 | 120 | 34 |
| Other | 12,494 | 6,376 | 6,347 |
| Total noninterest expense | 49,020 | 22,598 | 22,746 |
| Income before income tax expense | 17,998 | 3,300 | 11,835 |
| Income tax expense | 5,331 | 602 | 3,570 |
| Net income before noncontrolling interests | 12,667 | 2,698 | 8,265 |
| Less: Net income from noncontrolling interests | 392 | 43 | 208 |
| Wells Fargo net income | 12,275 | 2,655 | 8,057 |
| Wells Fargo net income applicable to common stock | 7,990 | 2,369 | 8,057 |
| Per share information | |||
| Earnings per common share | 1.76 | 0.70 | 2.41 |
| Diluted earnings per common share | 1.75 | 0.70 | 2.38 |
| Dividends declared per common share | 0.49 | 1.30 | 1.18 |
| Average common shares outstanding | 4,545,200 | 3,378,100 | 3,348,500 |
| Diluted average common shares outstanding | 4,562,700 | 3,391,300 | 3,382,800 |
| External Links | |
| WELLS FARGO & COMPANY/MN (WFC) Fiscal Year 2009 | |
| Statements of 10-K in Excel | https://www.sec.gov/.../Financial.xlxs |
| Complete 10-K in HTML | https://www.sec.gov/.../10-K.html |
| Complete 10-K in XBRL | https://www.sec.gov/.../10-K-xbrl.zip |