WELLS FARGO COMPANYMN

For the period ended Mar 31, 2024. Filed May 2, 2024.

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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 31, 2024 · Filed May 2, 2024

WFC$83.94-1.0%Stored close · as of Nov 6, 2026

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☑	QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended March 31, 2024

☐	TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from__________ to__________

Commission file number 001-2979

WELLS FARGO & COMPANY

(Exact name of registrant as specified in its charter)

Delaware	No.	41-0449260
(State of incorporation)	(I.R.S. Employer Identification No.)

420 Montgomery Street, San Francisco, California 94104

(Address of principal executive offices) (Zip code)

Registrant’s telephone number, including area code:1-866-249-3302

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class	Trading Symbol	Name of Each Exchangeon Which Registered
Common Stock, par value $1-2/3	WFC	New York StockExchange(NYSE)
7.5% Non-Cumulative Perpetual Convertible Class A Preferred Stock, Series L	WFC.PRL	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Y	WFC.PRY	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series Z	WFC.PRZ	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series AA	WFC.PRA	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series CC	WFC.PRC	NYSE
Depositary Shares, each representing a 1/1000th interest in a share of Non-Cumulative Perpetual Class A Preferred Stock, Series DD	WFC.PRD	NYSE
Guarantee of Medium-Term Notes, Series A, due October 30, 2028 of Wells Fargo Finance LLC	WFC/28A	NYSE

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes þ No ¨

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes þ No ¨

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer þ Accelerated filer¨

Non-accelerated filer ¨ Smaller reporting company ☐

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No þ

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date.

	Shares Outstanding
Common stock, $1-2/3 par value	3,486,315,358

FORM 10-Q
CROSS-REFERENCE INDEX
PART I · Financial Information
Item 1. · Financial Statements · Page
Consolidated Statement of Income	55
Consolidated Statement of Comprehensive Income	56
Consolidated Balance Sheet	57
Consolidated Statement of Changes in Equity	58
Consolidated Statement of Cash Flows	59
Notes to Financial Statements
1		—	Summary of Significant Accounting Policies	60
2		—	Trading Activities	62
3		—	Available-for-Sale and Held-to-Maturity Debt Securities	63
4		—	Equity Securities	69
5		—	Loans and Related Allowance for Credit Losses	71
6		—	Mortgage Banking Activities	85
7		—	Intangible Assets and Other Assets	87
8		—	Leasing Activity	88
9		—	Preferred Stock	89
10		—	Legal Actions	90
11		—	Derivatives	92
12		—	Fair Values of Assets and Liabilities	98
13		—	Securitizations and Variable Interest Entities	106
14		—	Guarantees and Other Commitments	112
15		—	Securities and Other Collateralized Financing Activities	114
16		—	Pledged Assets and Collateral	116
17		—	Operating Segments	117
18		—	Revenue and Expenses	119
19		—	Employee Benefits	121
20		—	Earnings and Dividends Per Common Share	122
21		—	Other Comprehensive Income	123
22		—	Regulatory Capital Requirements and Other Restrictions	125

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