Regional Banks

Wells Fargo & Company

The Company

Wells Fargo & Co. <% if gsSubBrand = "aolsnapshot" then Response.Write("(NYSE: WFC)") else Response.Write("(NYSE: WFC)") end if %> is one of the twin titans of California banking, the other being BankAmerica. The company has met with much success through its core retail banking business, but in 1996 it encountered some operational difficulties due to its merger with First Interstate.

Latest Financials

Wells Fargo reported net income of $339 million for the first quarter 1997. Per share earnings for the quarter were $3.62. Return on average assets (ROA) was 1.31% and return on average common equity (ROE) was 10.02% for the quarter. Cash earnings for the quarter were $4.88 per share. Cash ROA was 1.90% and cash ROE was 36.67%. Cash earnings are earnings before the amortization of goodwill and nonqualifying core deposit intangibles.

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