SAN FRANCISCO–(BUSINESS WIRE)–

Wells Fargo & Company (WFC):

• Strong financial results:
  • Net income of $5.8 billion, compared with $5.9 billion in first quarter 2014
  • Diluted earnings per share (EPS) of $1.04, compared with $1.05
  • Revenue of $21.3 billion, up 3 percent
  • Pre-tax pre-provision profit¹ of $8.8 billion, up 1 percent
  • Efficiency ratio of 58.8 percent, compared with 57.9 percent
  • Return on assets (ROA) of 1.38 percent and return on equity (ROE) of 13.17 percent
• Strong growth in average loans and deposits:
  • Total average loans of $863.3 billion, up $39.5 billion, or 5 percent, from first quarter 2014
    • Quarter-end loans of $861.2 billion, up $34.8 billion, or 4 percent
    • Quarter-end core loans of $802.7 billion², up $54.2 billion, or 7 percent
  • Total average deposits of $1.2 trillion, up $97.5 billion, or 9 percent
• Continued strength in credit quality:
  • Net charge-offs of $708 million, down $117 million from first quarter 2014
    • Net charge-off rate of 0.33 percent (annualized), down from 0.41 percent
  • Nonaccrual loans down $2.1 billion, or 15 percent
  • $100 million reserve release³
• Maintained strong capital levels⁴ and continued share repurchases:
  • Common Equity Tier 1 ratio under Basel III (Advanced Approach, fully phased-in) of 10.53 percent
  • Period-end common shares outstanding down 7.4 million from fourth quarter 2014
  • No objection from the Federal Reserve to our 2015 Capital Plan, which included a proposed dividend rate of $0.375 per share for second quarter 2015, subject to Board approval, up from $0.35 per share in the first quarter
  • Approval to use Advanced Approaches for capital requirements granted from the Federal Reserve and the Office of the Comptroller of the Currency starting in second quarter 2015

Endnotes can be found at end of release text

Wells Fargo & Company (WFC) reported net income of $5.8 billion, or $1.04 per diluted common share, for first quarter 2015, compared with $5.9 billion, or $1.05 per share, for first quarter 2014, and up from $5.7 billion, or $1.02 per share, for fourth quarter 2014.

“Our solid first quarter results again reflected the benefit of our diversified business model and the continued focus of our 266,000 team members on serving the needs of consumer and business customers,” said Chairman and CEO John Stumpf. “We continued to strengthen our customer relationships in the quarter, as reflected in strong growth in deposits and primary checking customers. In addition, our mortgage business was able to serve more customers by refinancing their mortgage loans with lower rates. Capital levels remained strong, and we were pleased to receive a non-objection to our 2015 Capital Plan, which included a proposed increase in our dividend rate to $0.375 per common share in second quarter 2015, subject to Board approval.”

Chief Financial Officer John Shrewsberry added, “Wells Fargo earned $5.8 billion in first quarter 2015, an increase of $95 million from the prior quarter, including the benefit from lower income tax expense in the first quarter. Credit quality remained strong, as net charge-offs continued to decline. Expenses also decreased from the prior quarter and our efficiency ratio improved. We remained within our targeted ranges for ROA, ROE, efficiency ratio and net payout ratio, while maintaining record liquidity and capital levels.”

Revenue

Revenue was $21.3 billion in the first quarter, compared with $21.4 billion in fourth quarter 2014, as higher noninterest income was more than offset by the decline in net interest income primarily due to two fewer days in the quarter. Revenue sources remained balanced between spread and fee income and the sources of fee income were diversified among our consumer and wholesale businesses.

Net Interest Income

Net interest income in first quarter 2015 declined $194 million on a linked-quarter basis to $11.0 billion primarily as a result of two fewer days relative to the fourth quarter of 2014. Additionally, interest income from variable sources, including purchased credit-impaired (PCI) loan resolutions and loan fees included in interest income, declined linked quarter. These impacts were partially offset by growth in average commercial and consumer loan balances, a modest increase in the duration of the commercial loan portfolio, and lower deposit and long-term debt costs.

Net interest margin was 2.95 percent, down 9 basis points from fourth quarter 2014. Approximately 5 basis points of the decrease was from customer driven deposit growth, which had minimal impact to net interest income but was dilutive to net interest margin, and 3 basis points of the decline was due to lower income from variable sources. The net impact of all other growth and repricing was neutral in the first quarter.

Noninterest Income

Noninterest income was $10.3 billion, up $29 million from the prior quarter. Higher revenue from trading activities, debt security gains, mortgage origination gains and insurance was offset by lower other income (which included a $217 million gain on the sale of government guaranteed student loans in fourth quarter 2014), lower mortgage servicing income, and seasonally lower card fees and deposit service charges.

Trust and investment fees were $3.7 billion, down $28 million from the prior quarter. Higher retail brokerage asset-based fees and transaction revenue were offset by lower investment banking fees.

Mortgage banking noninterest income was $1.5 billion, up $32 million from fourth quarter. During the first quarter, residential mortgage originations were $49 billion, up $5 billion linked quarter, while the gain on sale ratio was 2.06 percent, up from 1.80 percent in fourth quarter. Net mortgage servicing rights (MSRs) results were $108 million, compared with $235 million in fourth quarter 2014.

Noninterest Expense

Noninterest expense declined $140 million from the prior quarter to $12.5 billion, as seasonally higher employee benefits and incentive compensation of $688 million were offset by costs that typically decline in the first quarter including outside professional services ($252 million lower), equipment costs ($87 million lower) and advertising and promotion ($77 million lower). First quarter salary expense was $87 million lower than fourth quarter due to two fewer days in the quarter, and revenue-related compensation was $60 million lower, driven primarily by lower investment banking revenue. The efficiency ratio was 58.8 percent in first quarter 2015, an improvement from 59.0 percent in fourth quarter 2014. The Company expects to operate within its targeted efficiency ratio range of 55 to 59 percent for full year 2015.

Income Taxes

The Company’s effective income tax rate was 28.2 percent for first quarter 2015, compared with 30.6 percent in the prior quarter. The tax rate for the first quarter reflected a net $359 million discrete tax benefit primarily from a reduction in the reserve for uncertain tax positions due to the resolution of prior period matters with U.S. federal and state taxing authorities.

Loans

Total average loans were $863.3 billion in the first quarter, up $13.8 billion from the fourth quarter, driven by broad-based loan growth. Period end loan balances were $861.2 billion at March 31, 2015, down $1.3 billion from December 31, 2014, due in part to a seasonal decline in credit card balances and the continued decline in junior lien mortgage loans. Fourth quarter 2014 loan growth included the acquisition of the Dillard’s credit card portfolio as well as $6.5 billion from the financing related to the sale of government guaranteed student loans.

Investment Securities

Investment securities were $324.7 billion at March 31, 2015, up $11.8 billion from fourth quarter. Purchases of approximately $23 billion (primarily U.S. Treasury, federal agency mortgage-backed securities (MBS) and municipal securities), were partially offset by run-off, a significant portion of which was in federal agency MBS.

Net unrealized available-for-sale securities gains of $7.9 billion at March 31, 2015 increased from $7.8 billion at December 31, 2014.

Deposits

Average total deposits for first quarter 2015 were $1.2 trillion, up 9 percent from a year ago, driven by both commercial and consumer growth. The average deposit cost for first quarter 2015 was 9 basis points, unchanged from the prior quarter and an improvement of 2 basis points from a year ago. Average core deposits were $1.1 trillion, up 9 percent from a year ago. Average mortgage escrow deposits were $28.4 billion, compared with $24.2 billion a year ago and $29.2 billion in fourth quarter 2014.

Capital

Capital levels remained strong in the first quarter, with Common Equity Tier 1 of $139.2 billion under Basel III (Standardized Approach with Transition Requirements), or 10.86 percent of risk-weighted assets. The Common Equity Tier 1 ratio under the Basel III (Advanced Approach, fully phased-in) framework was 10.53 percent⁴. During first quarter 2015, the Company purchased 48.4 million shares of its common stock and entered into a $750 million forward repurchase transaction for an additional 14.0 million shares, which settled in early April 2015. The Company also paid a quarterly common stock dividend of $0.35 per share, up from $0.30 per share a year ago.

On March 11, 2015, the Company received no objection from the Federal Reserve to its 2015 Capital Plan, which included a proposed dividend rate of $0.375 per common share for second quarter 2015, subject to Board approval. On March 31, 2015, the Federal Reserve and the Office of the Comptroller of the Currency announced that the Company may begin using the Basel III Advanced Approaches capital framework to determine risk-based capital requirements starting in the second quarter of 2015. The approval did not include stipulations requiring Wells Fargo to increase its current Advanced Approach risk-weighted assets (RWA).

Credit Quality

“Credit losses were $708 million in first quarter 2015, compared with $735 million in fourth quarter 2014, a 4 percent improvement,” said Chief Risk Officer Mike Loughlin. “The quarterly loss rate (annualized) was 0.33 percent with commercial losses of 0.04 percent and consumer losses of 0.60 percent. Nonperforming assets declined by $618 million, or 16 percent (annualized), from the prior quarter, and early stage delinquencies dropped. We released $100 million from the allowance for credit losses in the first quarter, reflecting continued credit quality improvement. Future allowance levels may increase or decrease based on a variety of factors, including loan growth, portfolio performance and general economic conditions.”

Net Loan Charge-offs

Net loan charge-offs were $708 million in first quarter 2015, or 0.33 percent (annualized) of average loans, compared with $735 million in fourth quarter 2014, or 0.34 percent (annualized) of average loans.

Nonperforming Assets

Nonperforming assets decreased by $618 million from fourth quarter to $14.8 billion. Nonaccrual loans decreased $338 million to $12.5 billion. Foreclosed assets were $2.3 billion, down from $2.6 billion in fourth quarter 2014.

Loans 90 Days or More Past Due and Still Accruing

Loans 90 days or more past due and still accruing (excluding government insured/guaranteed) totaled $841 million at March 31, 2015, down from $920 million at December 31, 2014. Loans 90 days or more past due and still accruing with repayments insured by the Federal Housing Administration (FHA) or predominantly guaranteed by the Department of Veterans Affairs (VA) for mortgages and the U.S. Department of Education for student loans under the Federal Family Education Loan Program were $15.5 billion at March 31, 2015, down from $16.9 billion at December 31, 2014.

Allowance for Credit Losses

The allowance for credit losses, including the allowance for unfunded commitments, totaled $13.0 billion at March 31, 2015, down from $13.2 billion at December 31, 2014. The allowance coverage to total loans was 1.51 percent, compared with 1.53 percent in fourth quarter 2014. The allowance covered 4.5 times annualized first quarter net charge-offs, unchanged from the prior quarter. The allowance coverage to nonaccrual loans was 104 percent at March 31, 2015, compared with 103 percent at December 31, 2014. “We believe the allowance was appropriate for losses inherent in the loan portfolio at March 31, 2015,” said Loughlin.

Business Segment Performance

Wells Fargo defines its operating segments by product type and customer segment. Segment net income for each of the three business segments was:

Community Banking offers a complete line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, and auto, student, and small business lending. Community Banking also offers investment, insurance and trust services in 39 states and D.C., and mortgage and home equity loans in all 50 states and D.C. through its Regional Banking and Wells Fargo Home Lending business units.

Community Banking reported net income of $3.7 billion, up $230 million, or 7 percent, from fourth quarter 2014. Revenue of $12.8 billion was flat compared with the prior quarter due to seasonally lower deposit service charges and card fees, and a non-recurring gain on sale of government guaranteed student loans in the prior quarter, partially offset by higher market sensitive revenue, mainly gains on sale of debt securities and equity investments. Noninterest expense decreased $217 million, or 3 percent, due to lower project spending, advertising, travel, and equipment expense, partially offset by seasonally higher personnel costs. The provision for credit losses increased $99 million from the prior quarter as a $59 million improvement in net charge offs was more than offset by a $158 million lower reserve release.

Net income was down $179 million, or 5 percent, from first quarter 2014. Revenue increased $191 million, or 2 percent, from a year ago primarily due to higher net interest income, gains on sale of debt securities, revenue from debit and credit card volumes, and trust and investment fees, partially offset by lower gains on equity investments and lower deposit service charges. Noninterest expense increased $290 million, or 4 percent, from a year ago driven by higher personnel expenses and operating losses, partially offset by lower travel, occupancy and other expenses. The provision for credit losses increased $198 million from a year ago as the $172 million improvement in net charge-offs was more than offset by a $370 million lower reserve release.

Regional Banking

• Retail banking
  • Primary consumer checking customers⁵ up 5.7 percent year-over-year⁶
  • Retail Bank household cross-sell ratio of 6.13 products per household, compared with 6.17 year-over-year^6,7

• Small Business/Business Banking
  • Primary business checking customers⁵ up 5.5 percent year-over-year⁶
  • Combined Business Direct credit card, lines of credit and loan product solutions (primarily under $100,000 sold through our retail banking stores) were up 23 percent from the prior year
• Online and Mobile Banking
  • 25.7 million active online customers, up 8 percent year-over-year⁶
  • 14.9 million active mobile customers, up 19 percent year-over-year⁶

Consumer Lending Group

• Home Lending
  • Originations of $49 billion, up from $44 billion in prior quarter
  • Applications of $93 billion, up from $66 billion in prior quarter
  • Application pipeline of $44 billion at quarter end, up from $26 billion at December 31, 2014
  • Residential mortgage servicing portfolio of $1.7 trillion
  • Average note rate on the servicing portfolio was 4.43 percent, compared with 4.45 percent in prior quarter
• Consumer Credit
  • Credit card penetration in retail banking households rose to 41.8 percent⁶, up from 38.0 percent in prior year
  • Auto originations of $7.1 billion in first quarter, up 6 percent from prior quarter and down 10 percent from prior year

Wholesale Banking provides financial solutions to businesses across the United States and globally with annual sales generally in excess of $20 million. Products and business segments include Middle Market Commercial Banking, Government and Institutional Banking, Corporate Banking, Commercial Real Estate, Treasury Management, Wells Fargo Capital Finance, Insurance, International, Real Estate Capital Markets, Commercial Mortgage Servicing, Corporate Trust, Equipment Finance, Wells Fargo Securities, Principal Investments, Asset Backed Finance, and Asset Management.

Wholesale Banking reported net income of $1.8 billion, down $173 million, or 9 percent, from fourth quarter 2014. Revenue of $5.9 billion decreased $142 million, or 2 percent, from prior quarter. Net interest income decreased $183 million, or 6 percent, as strong loan and other earning asset growth was more than offset by the impact of two fewer days in the quarter and lower loan resolution income. Noninterest income increased $41 million, or 1 percent, driven by strong sales and trading results, higher multi-family capital mortgage banking fees and seasonally higher crop insurance fees, partially offset by lower investment banking fees, commercial real estate brokerage fees and gains on equity investments. Noninterest expense increased $102 million, or 3 percent, linked quarter on seasonally higher personnel tax expense and seasonally higher insurance commissions. The provision for credit losses increased $33 million from prior quarter due to lower recoveries.

Net income was up $55 million, or 3 percent, from first quarter 2014. Revenue increased $332 million, or 6 percent, from first quarter 2014 on strong loan and deposit growth, and higher investment banking, commercial real estate brokerage, treasury management, foreign exchange and loan fees. Noninterest expense increased $194 million, or 6 percent, from a year ago primarily due to higher personnel expenses related to growth initiatives, compliance, regulatory requirements and higher variable incentive compensation. The provision for credit losses increased $87 million from a year ago primarily due to lower recoveries and a $23 million lower reserve release.

• Average loans increased 12 percent in first quarter 2015, compared with first quarter 2014, on broad-based growth, including asset-backed finance, capital finance, commercial banking, commercial real estate, corporate banking, equipment finance, government and institutional banking, and real estate capital markets
• Cross-sell of 7.2 products per relationship, unchanged from first quarter 2014⁸
• Treasury management revenue up 11 percent from first quarter 2014
• Assets under management of $493 billion, up $13 billion from first quarter 2014, including a $9 billion increase in fixed income assets under management reflecting net client inflows and favorable market conditions

Wealth, Brokerage and Retirement provides a full range of financial advisory services to clients using a planning approach to meet each client’s financial needs. Wealth Management provides affluent and high net worth clients with a complete range of wealth management solutions, including financial planning, private banking, credit, investment management and fiduciary services. Abbot Downing, a Wells Fargo business, provides comprehensive wealth management services to ultra high net worth families and individuals as well as endowments and foundations. Brokerage serves customers’ advisory, brokerage and financial needs as part of one of the largest full-service brokerage firms in the United States. Retirement is a national leader in providing institutional retirement and trust services (including 401(k) and pension plan record keeping) for businesses and reinsurance services for the life insurance industry.

Wealth, Brokerage and Retirement (WBR) reported net income of $561 million, up $47 million, or 9 percent, from fourth quarter 2014. Revenue of $3.7 billion increased $86 million, or 2 percent, from the prior quarter, largely driven by higher asset-based fees and brokerage transaction revenue. Noninterest expense increased $20 million, or 1 percent, from the prior quarter driven primarily by seasonally higher personnel expenses which were partially offset by lower other expenses. The provision for credit losses decreased $11 million from fourth quarter 2014.

Net income was up $86 million, or 18 percent, from first quarter 2014. Revenue increased $265 million, or 8 percent, from a year ago primarily due to strong growth in asset-based fees and net interest income. Noninterest expense increased $120 million, or 4 percent, from a year ago primarily due to brokerage volume-based expenses. The provision for credit losses increased $5 million from a year ago.

Retail Brokerage

• Client assets of $1.4 trillion, up 4 percent from prior year
• Managed account assets of $435 billion, increased $46 billion, or 12 percent, from prior year, reflecting net flows and increased market valuations
• Strong loan growth, with average balances up 23 percent from prior year largely due to growth in non-conforming mortgages and security-based lending

Wealth Management

• Client assets of $226 billion, up 4 percent from prior year
• Loan growth, with average balances up 10 percent over prior year primarily driven by growth in non-conforming mortgages

Retirement

• IRA assets of $365 billion, up 6 percent from prior year
• Institutional Retirement plan assets of $347 billion, up 3 percent from prior year

WBR cross-sell ratio of 10.44 products per household, up from 10.42 a year ago⁶

Conference Call

The Company will host a live conference call on Tuesday, April 14, at 7 a.m. PDT (10 a.m. EDT). You may participate by dialing 866-872-5161 (U.S. and Canada) or 706-643-1962 (International). The call will also be available online at wellsfargo.com/invest_relations/earnings and at https://engage.vevent.com/rt/wells_fargo_ao~021415.

A replay of the conference call will be available beginning at 10 a.m. PDT (1 p.m. EDT) on April 14 through Tuesday, April 21. Please dial 855-859-2056 (U.S. and Canada) or 404-537-3406 (International) and enter Conference ID #82513650. The replay will also be available online at wellsfargo.com/invest_relations/earnings and at https://engage.vevent.com/rt/wells_fargo_ao~021415.

Forward-Looking Statements

This document contains “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In addition, we may make forward-looking statements in our other documents filed or furnished with the SEC, and our management may make forward-looking statements orally to analysts, investors, representatives of the media and others. Forward-looking statements can be identified by words such as “anticipates,” “intends,” “plans,” “seeks,” “believes,” “estimates,” “expects,” “target,” “projects,” “outlook,” “forecast,” “will,” “may,” “could,” “should,” “can” and similar references to future periods. In particular, forward-looking statements include, but are not limited to, statements we make about: (i) the future operating or financial performance of the Company, including our outlook for future growth; (ii) our noninterest expense and efficiency ratio; (iii) future credit quality and performance, including our expectations regarding future loan losses and allowance levels; (iv) the appropriateness of the allowance for credit losses; (v) our expectations regarding net interest income and net interest margin; (vi) loan growth or the reduction or mitigation of risk in our loan portfolios; (vii) future capital levels and our estimated Common Equity Tier 1 ratio under Basel III capital standards; (viii) the performance of our mortgage business and any related exposures; (ix) the expected outcome and impact of legal, regulatory and legislative developments, as well as our expectations regarding compliance therewith; (x) future common stock dividends, common share repurchases and other uses of capital; (xi) our targeted range for return on assets and return on equity; (xii) the outcome of contingencies, such as legal proceedings; and (xiii) the Company’s plans, objectives and strategies.

Forward-looking statements are not based on historical facts but instead represent our current expectations and assumptions regarding our business, the economy and other future conditions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict. Our actual results may differ materially from those contemplated by the forward-looking statements. We caution you, therefore, against relying on any of these forward-looking statements. They are neither statements of historical fact nor guarantees or assurances of future performance. While there is no assurance that any list of risks and uncertainties or risk factors is complete, important factors that could cause actual results to differ materially from those in the forward-looking statements include the following, without limitation:

• current and future economic and market conditions, including the effects of declines in housing prices, high unemployment rates, U.S. fiscal debt, budget and tax matters, geopolitical matters, and the overall slowdown in global economic growth;
• our capital and liquidity requirements (including under regulatory capital standards, such as the Basel III capital standards) and our ability to generate capital internally or raise capital on favorable terms;
• financial services reform and other current, pending or future legislation or regulation that could have a negative effect on our revenue and businesses, including the Dodd-Frank Act and other legislation and regulation relating to bank products and services;
• the extent of our success in our loan modification efforts, as well as the effects of regulatory requirements or guidance regarding loan modifications;
• the amount of mortgage loan repurchase demands that we receive and our ability to satisfy any such demands without having to repurchase loans related thereto or otherwise indemnify or reimburse third parties, and the credit quality of or losses on such repurchased mortgage loans;
• negative effects relating to our mortgage servicing and foreclosure practices, including our obligations under the settlement with the Department of Justice and other federal and state government entities, as well as changes in industry standards or practices, regulatory or judicial requirements, penalties or fines, increased servicing and other costs or obligations, including loan modification requirements, or delays or moratoriums on foreclosures;
• our ability to realize our efficiency ratio target as part of our expense management initiatives, including as a result of business and economic cyclicality, seasonality, changes in our business composition and operating environment, growth in our businesses and/or acquisitions, and unexpected expenses relating to, among other things, litigation and regulatory matters;
• the effect of the current low interest rate environment or changes in interest rates on our net interest income, net interest margin and our mortgage originations, mortgage servicing rights and mortgages held for sale;
• a recurrence of significant turbulence or disruption in the capital or financial markets, which could result in, among other things, reduced investor demand for mortgage loans, a reduction in the availability of funding or increased funding costs, and declines in asset values and/or recognition of other-than-temporary impairment on securities held in our investment securities portfolio;
• the effect of a fall in stock market prices on our investment banking business and our fee income from our brokerage, asset and wealth management businesses;
• reputational damage from negative publicity, protests, fines, penalties and other negative consequences from regulatory violations and legal actions;
• a failure in or breach of our operational or security systems or infrastructure, or those of our third party vendors or other service providers, including as a result of cyber attacks;
• the effect of changes in the level of checking or savings account deposits on our funding costs and net interest margin;
• fiscal and monetary policies of the Federal Reserve Board; and
• the other risk factors and uncertainties described under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2014.

In addition to the above factors, we also caution that the amount and timing of any future common stock dividends or repurchases will depend on the earnings, cash requirements and financial condition of the Company, market conditions, capital requirements (including under Basel capital standards), common stock issuance requirements, applicable law and regulations (including federal securities laws and federal banking regulations), and other factors deemed relevant by the Company’s Board of Directors, and may be subject to regulatory approval or conditions.

For more information about factors that could cause actual results to differ materially from our expectations, refer to our reports filed with the Securities and Exchange Commission, including the discussion under “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2014, as filed with the Securities and Exchange Commission and available on its website at www.sec.gov.

Any forward-looking statement made by us speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.

About Wells Fargo

Wells Fargo & Company (WFC) is a nationwide, diversified, community-based financial services company with $1.7 trillion in assets. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,700 locations, 12,500 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 36 countries to support customers who conduct business in the global economy. With approximately 266,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 29 on Fortune’s 2014 rankings of America’s largest corporations. Wells Fargo’s vision is to satisfy all our customers’ financial needs and help them succeed financially.