Wells Fargo (WFC) Earnings Q4 2010
View WFC Q4 Earnings Report
Highlights:
- Record net income of $3.4 billion for 4Q 2010, up 21 percent from prior year
- Fourth quarter revenue of $21.5 billion, up 12 percent (annualized) from prior quarter
- For 4Q 2010, net interest margin of 4.16 percent, return on assets of 1.09 percent (annualized) and return on equity of 10.95 percent (annualized)
- Record net income of $12.4 billion for full-year 2010; revenue of $85.2 billion
- Total loans up $3.6 billion, or 2 percent (annualized), from Sept. 30, 2010; non-strategic/liquidating loans down $6.0 billion, all other loans up $9.6 billion from Sept. 30, 2010
- Net loan charge-offs declined to $3.8 billion, 29 percent below fourth quarter 2009 peak
- Nonperforming assets declined to $32.4 billion and nonperforming loans declined to $26.2 billion
- Completed second year of Wachovia integration; merger on track and exceeding original expectations
Earnings estimates from TheStreet.com
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Wells Fargo's website
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