Exhibit 99.1


 
wfc011415ex991pg001aa46.jpg
 
News Release
 
 
 
Tuesday, January 15, 2019
Wells Fargo Reports $6.1 Billion in Quarterly Net Income; Diluted EPS of $1.21
Full Year 2018 Net Income of $22.4 Billion; Diluted EPS of $4.28
Full year 2018 financial results:
Net income of $22.4 billion, compared with $22.2 billion in 2017
Diluted earnings per share (EPS) of $4.28, compared with $4.10
Return on assets (ROA) of 1.19 percent, return on equity (ROE) of 11.53 percent, and return on average tangible common equity (ROTCE) of 13.73 percent1
Revenue of $86.4 billion, down from $88.4 billion
Noninterest expense of $56.1 billion, down from $58.5 billion
Returned $25.8 billion to shareholders through common stock dividends and net share repurchases
Net share repurchases of $17.9 billion, which more than doubled from $6.8 billion in 2017
Common stock dividends of $1.64 per share, up 6 percent from $1.54 per share
Period-end common shares outstanding down 310.3 million shares, or 6 percent
Fourth quarter 2018 financial results:
Net income of $6.1 billion, compared with $6.2 billion in fourth quarter 2017
Diluted earnings per share (EPS) of $1.21, compared with $1.16
ROA of 1.28 percent, ROE of 12.89 percent, and ROTCE of 15.39 percent1 
Revenue of $21.0 billion, down from $22.1 billion
Net interest income of $12.6 billion, up $331 million
Noninterest income of $8.3 billion, down $1.4 billion
Noninterest expense of $13.3 billion, down $3.5 billion
Income tax expense of $966 million, compared with an income tax benefit of $1.6 billion
Average deposits of $1.3 trillion, down $42.6 billion, or 3 percent
Average loans of $946.3 billion, down $5.5 billion, or 1 percent
Provision expense of $521 million, down $130 million, or 20 percent
Net charge-offs of 0.30 percent of average loans (annualized), down from 0.31 percent
Reserve release2 of $200 million, compared with $100 million release
Nonaccrual loans of $6.5 billion, down $1.2 billion, or 15 percent

Financial results reported in this document are preliminary. Final financial results and other disclosures will be reported in our Annual Report on Form 10-K for the year ended December 31, 2018, and may differ materially from the results and disclosures in this document due to, among other things, the completion of final review procedures, the occurrence of subsequent events, or the discovery of additional information.
1 Tangible common equity is a non-GAAP financial measure and represents total equity less preferred equity, noncontrolling
interests, and goodwill and certain identifiable intangible assets (including goodwill and intangible assets associated with
certain of our nonmarketable equity securities but excluding mortgage servicing rights), net of applicable deferred taxes. The
methodology of determining tangible common equity may differ among companies. Management believes that return on
average tangible common equity, which utilizes tangible common equity, is a useful financial measure because it enables
investors and others to assess the Company's use of equity. For additional information, including a corresponding
reconciliation to GAAP financial measures, see the “Tangible Common Equity” tables on page 36.
2 Reserve build represents the amount by which the provision for credit losses exceeds net charge-offs, while reserve release
represents the amount by which net charge-offs exceed the provision for credit losses.



The following information was filed by Wells Fargo Companymn (WFC) on Tuesday, January 15, 2019 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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