Wells Fargo & Company (WFC) 10-Q 7 May 10 2010 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information (USD $)
In Billions, except Share data	3 Months Ended Mar. 31, 2010	Apr. 30, 2010	Jun. 30, 2009
Documant and Entity Information [Abstract]
Entity Registrant Name	WELLS FARGO & CO/MN
Entity Central Index Key	0000072971
Document Type	10-Q
Document Period End Date	2010-03-31
Amendment Flag	false
Document Fiscal Year Focus	2,010
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Public Float			111.9
Entity Common Stock, Shares Outstanding		5,210,152,080

Consolidated Statement of Incom

Consolidated Statement of Income (Unaudited) (USD $)
In Millions, except Per Share data	3 Months Ended Mar. 31, 2010		3 Months Ended Mar. 31, 2009
Interest income
Trading assets	$267		$266
Securities available for sale	2,415		2,709
Mortgages held for sale	387		415
Loans held for sale	34		67
Loans	10,038		10,765
Other interest income	84		91
Total interest income	13,225		14,313
Interest expense
Deposits	735		999
Short-term borrowings	18		123
Long-term debt	1,276		1,779
Other interest expense	49		36
Total interest expense	2,078		2,937
Net interest income	11,147		11,376
Provision for credit losses	5,330		4,558
Net interest income after provision for credit losses	5,817		6,818
Noninterest income
Service charges on deposit accounts	1,332		1,394
Trust and investment fees	2,669		2,215
Card fees	865		853
Other fees	941		901
Mortgage banking	2,470		2,504
Insurance	621		581
Net gains from trading activities	537		787
Net gains (losses) on debt securities available for sale	28	[1]	(119)	[1]
Net gains (losses) from equity investments	43	[2]	(157)	[2]
Operating leases	185		130
Other	610		552
Total noninterest income	10,301		9,641
Noninterest expense
Salaries	3,314		3,386
Commission and incentive compensation	1,992		1,824
Employee benefits	1,322		1,284
Equipment	678		687
Net occupancy	796		796
Core deposit and other intangibles	549		647
FDIC and other deposit assessments	301		338
Other	3,165		2,856
Total noninterest expense	12,117		11,818
Income before income tax expense	4,001		4,641
Income tax expense	1,401		1,552
Net income before noncontrolling interest	2,600		3,089
Less: Net income from noncontrolling interests	53		44
Wells Fargo net income	2,547		3,045
Wells Fargo net income applicable to common stock	$2,372		$2,384
Per share information
Earnings per common share	0.46		0.56
Diluted earnings per common share	0.45		0.56
Dividends declared per common share	0.05		0.34
Average common shares outstanding	5190.4		4247.4
Diluted average common shares outstanding	5225.2		4249.3
[1]Includes impairment losses of $92 million and $269 million, consisting of $154 million and $603 million of total other-than-temporary impairment losses, net of $62 million and $334 million recognized in other comprehensive income, for the quarters ended March 31, 2010 and 2009, respectively.
[2]Includes impairment losses of $105 million and $247 million for the quarters ended March 31, 2010 and 2009, respectively.

1_Consolidated Statement of Inc

Consolidated Statement of Income (Unaudited) (Parenthetical) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Noninterest income
Impairment losses on debt securities available for sale	$92	$269
Other-than-temporary impairment losses on debt securities available for sale	154	603
Impairment losses recognized in other comprehensive income on debt securities available for sale	62	334
Other-than-temporary impairment on equity securities in earnings	$105	$247

Consolidated Balance Sheet (Una

Consolidated Balance Sheet (Unaudited) (USD $)
In Millions	Mar. 31, 2010		Dec. 31, 2009
Assets
Cash and due from banks	$16,301		$27,080
Federal funds sold, securities purchased under resale agreements and other short-term investments	54,192		40,885
Trading assets	47,028		43,039
Securities available for sale	162,487		172,710
Mortgages held for sale (includes $31,931 and $36,962 carried at fair value)	34,737		39,094
Loans held for sale (includes $297 and $149 carried at fair value)	5,140		5,733
Loans (includes $371 carried at fair value at March 31, 2010)	781,430		782,770
Allowance for loan losses	(25,123)		(24,516)
Net loans	756,307		758,254
Mortgage servicing rights:
Measured at fair value (residential MSRs)	15,544		16,004
Amortized	1,069		1,119
Premises and equipment, net	10,405		10,736
Goodwill	24,819		24,812
Other assets	95,601		104,180
Total assets (1)	1,223,630	[1]	1,243,646	[1]
Liabilities
Noninterest-bearing deposits	170,518		181,356
Interest-bearing deposits	634,375		642,662
Total deposits	804,893		824,018
Short-term borrowings	46,333		38,966
Accrued expenses and other liabilities	54,371		62,442
Long-term debt (includes $367 carried at fair value at March 31, 2010)	199,879		203,861
Total liabilities (2)	1,105,476	[2]	1,129,287	[2]
Wells Fargo stockholders' equity:
Preferred stock	9,276		8,485
Common stock - $1 2/3 par value, authorized 9,000,000,000 and 9,000,000,000; issued 5,245,971,422 and 5,245,971,422	8,743		8,743
Additional paid-in capital	53,156		52,878
Retained earnings	43,636		41,563
Cumulative other comprehensive income	4,087		3,009
Treasury stock - 40,260,165 shares and 67,346,829 shares	(1,460)		(2,450)
Unearned ESOP shares	(1,296)		(442)
Total Wells Fargo stockholders' equity	116,142		111,786
Noncontrolling interests	2,012		2,573
Total equity	118,154		114,359
Total liabilities and equity	$1,223,630		$1,243,646
[1]Our consolidated assets at March 31, 2010, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $359 million; Trading assets, $80 million; Securities available for sale, $1.8 billion; Net loans, $23.4 billion; Other assets, $2.3 billion, and Total assets, $27.9 billion.
[2]Our consolidated liabilities at March 31, 2010, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Short-term borrowings, $316 million; Accrued expenses and other liabilities, $591 million; Long-term debt, $11.1 billion; and Total liabilities, $12.0 billion.

2_Consolidated Balance Sheet (U

Consolidated Balance Sheet (Unaudited) (Parenthetical) (USD $)
In Millions, except Share data	Mar. 31, 2010		Dec. 31, 2009
Assets
Mortgages Held For Sale Carried At fair value	$31,931		$36,962
Loans held for sale, carried at fair value	297		149
Loans, carried at fair value	371
Long-term debt, carried at fair value	367
Cash and due from banks	16,301		27,080
Trading assets	47,028		43,039
Securities available for sale	162,487		172,710
Net loans	756,307		758,254
Other assets	95,601		104,180
Total assets	1,223,630	[1]	1,243,646	[1]
Liabilities
Short-term borrowings	46,333		38,966
Accrued expenses and other liabilities	54,371		62,442
Long-term debt	199,879		203,861
Total liabilities	1,105,476	[2]	1,129,287	[2]
Wells Fargo stockholders' equity:
Common stock, par value	1.67		1.67
Common stock, shares authorized	9,000,000,000		9,000,000,000
Common stock, shares issued	5,245,971,422		5,245,971,422
Treasury stock, shares	40,260,165		67,346,829
Variable Interest, Held by Sponsor
Liabilities
Short-term borrowings	316
Accrued expenses and other liabilities	591
Long-term debt	11,100
Total liabilities	12,000			[2]
Variable Interest, Held by Entity
Assets
Cash and due from banks	359
Trading assets	80
Securities available for sale	1,800
Net loans	23,400
Other assets	2,300
Total assets	$27,900			[1]
[1]Our consolidated assets at March 31, 2010, include the following assets of certain variable interest entities (VIEs) that can only be used to settle the liabilities of those VIEs: Cash and due from banks, $359 million; Trading assets, $80 million; Securities available for sale, $1.8 billion; Net loans, $23.4 billion; Other assets, $2.3 billion, and Total assets, $27.9 billion.
[2]Our consolidated liabilities at March 31, 2010, include the following VIE liabilities for which the VIE creditors do not have recourse to Wells Fargo: Short-term borrowings, $316 million; Accrued expenses and other liabilities, $591 million; Long-term debt, $11.1 billion; and Total liabilities, $12.0 billion.

Consolidated Statement of Chang

Consolidated Statement of Changes in Equity and Comprehensive Income (Unaudited) (USD $)
In Millions, except Share data	Preferred stock	Common stock	Additional paid-in capital	Retained earnings	Cumulative other comprehensive income	Treasury stock	Unearned ESOP	Total Wells Fargo stockholders' equity	Noncontrolling interests	Total
Shares, Beginning Balance at Dec. 31, 2007 (Previously Reported)	10,111,821	4,228,630,889
Shares, Beginning Balance at Dec. 31, 2007	10,111,821	4,228,630,889
Beginning Balance at Dec. 31, 2007	$31,332	$7,273				($4,666)	($555)			$102,316
Cumulative effect from change in accounting for other-than-temporary impairment on debt securities				53	(53)
Effect of change in accounting for noncontrolling interests			(3,716)					(3,716)	3,716
Noncontrolling interests:
Ending Balance at Dec. 31, 2008	31,332	7,273	32,310	36,596	(6,922)	(4,666)	(555)	95,368	6,948	102,316
Shares, Ending Balance at Dec. 31, 2008	10,111,821	4,228,630,889
Comprehensive income:
Net income before noncontrolling interest				3,045				3,045	44	3,089
Other comprehensive income, net of tax:
Translation adjustments					(18)			(18)	(5)	(23)
Securities available for sale:
Unrealized losses related to factors other than credit					(210)			(210)		(210)
All other net unrealized gains					3,473			3,473	12	3,485
Net unrealized gains (losses) on derivatives and hedging activities					(16)			(16)		(16)
Unamortized gains under defined benefit plans, net of amortization					69			69		69
Total comprehensive income								6,343	51	6,394
Noncontrolling interests:
Noncontrolling interests									(237)	(237)
Common stock issued			35	(588)		1,077		524		524
Common stock issued, shares		33,346,822
Common stock repurchased						(54)		(54)		(54)
Common stock repurchased, shares		(2,294,746)
Preferred stock discount accretion	98							98		98
Preferred stock released to ESOP			(1)				20	19		19
Preferred stock converted to common shares	(19)		(36)			55
Preferred stock converted to common shares, shares	(18,830)	1,714,287
Common stock dividends				(1,443)				(1,443)		(1,443)
Preferred stock dividends and accretion				(661)				(661)		(661)
Stock option compensation expense			95					95		95
Net change in deferred compensation and related plans			11			(5)		6		6
Net change	79		104	353	3,298	1,073	20	4,927	(186)	4,741
Net change, shares	(18,830)	32,766,363
Ending Balance at Mar. 31, 2009	31,411	7,273	32,414	36,949	(3,624)	(3,593)	(535)	100,295	6,762	107,057
Shares, Ending Balance at Mar. 31, 2009	10,092,991	4,261,397,252
Shares, Beginning Balance at Dec. 31, 2009	9,980,940	5,178,624,593
Beginning Balance at Dec. 31, 2009	8,485	8,743	52,878	41,563	3,009	(2,450)	(442)	111,786	2,573	114,359
Cumulative effect from change in accounting for VIEs				183				183		183
Comprehensive income:
Net income before noncontrolling interest				2,547				2,547	53	2,600
Other comprehensive income, net of tax:
Translation adjustments					5			5		5
Securities available for sale:
Unrealized losses related to factors other than credit					(39)			(39)		(39)
All other net unrealized gains					1,023			1,023	1	1,024
Net unrealized gains (losses) on derivatives and hedging activities					73			73		73
Unamortized gains under defined benefit plans, net of amortization					16			16		16
Total comprehensive income								3,625	54	3,679
Noncontrolling interests:
Noncontrolling interests			16					16	(615)	(599)
Common stock issued			(13)	(213)		690		464		464
Common stock issued, shares		21,683,461
Common stock repurchased						(38)		(38)		(38)
Common stock repurchased, shares		(1,312,992)
Preferred stock issued to ESOP	1,000		80				(1,080)
Preferred stock issued to ESOP, shares	1,000,000
Preferred stock released to ESOP			(17)				226	209		209
Preferred stock converted to common shares	(209)		(4)			213
Preferred stock converted to common shares, shares	(209,008)	6,716,195
Common stock dividends				(260)				(260)		(260)
Preferred stock dividends				(184)				(184)		(184)
Tax benefit upon exercise of stock options			51					51		51
Stock option compensation expense			33					33		33
Net change in deferred compensation and related plans			132			125		257		257
Net change	791		278	2,073	1,078	990	(854)	4,356	(561)	3,795
Net change, shares	790,992	27,086,664
Ending Balance at Mar. 31, 2010	$9,276	$8,743	$53,156	$43,636	$4,087	($1,460)	($1,296)	$116,142	$2,012	$118,154
Shares, Ending Balance at Mar. 31, 2010	10,771,932	5,205,711,257

3_Consolidated Statement of Cha

Consolidated Statement of Changes in Equity and Comprehensive Income (Unaudited) (Parenthetical) (Cumulative other comprehensive income, USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Comprehensive income:
Reclassification of Net Gains (Losses) Included in Net Income	$40	($48)
Reclassification of net gains on cash flow hedges included in net income	$88	$84

Consolidated Statement of Cash

Consolidated Statement of Cash Flows (Unaudited) (USD $)
In Millions	3 Months Ended Mar. 31, 2010	3 Months Ended Mar. 31, 2009
Cash flows from operating activities:
Net income before noncontrolling interest	$2,600	$3,089
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	5,330	4,558
Changes in fair value of MSRs (residential), MHFS and LHFS carried at fair value	(80)	2,141
Changes in fair value related to adoption of new consolidation accounting guidance	(7)
Depreciation and amortization	713	981
Other net losses (gains)	326	(383)
Preferred shares released to ESOP	209	19
Stock option compensation expense	33	95
Excess tax benefits related to stock option payments	(51)
Originations of MHFS	(74,290)	(98,613)
Proceeds from sales of and principal collected on mortgages originated for sale	81,466	83,262
Originations of LHFS	(3,155)	(1,494)
Proceeds from sales of and principal collected on LHFS	6,036	1,705
Purchases of LHFS	(2,407)	(1,640)
Net change in:
Trading assets	(3,834)	7,821
Deferred income taxes	1,199	2,373
Accrued interest receivable	690	674
Accrued interest payable	(142)	(767)
Other assets, net	3,431	6,240
Other accrued expenses and liabilities, net	(9,186)	5,818
Net cash provided by operating activities	8,881	15,879
Cash flows from investing activities:
Net change in federal funds sold, securities purchased under resale agreements and other short-term investments	(13,307)	30,808
Securities available for sale:
Sales proceeds	1,795	10,760
Prepayments and maturities	9,295	7,343
Purchases	(4,191)	(39,173)
Loans:
Decrease in banking subsidiaries' loan originations, net of collections	15,532	10,908
Proceeds from sales (including participations) of loans originated for investment by banking subsidiaries	1,341	419
Purchases (including participations) of loans by banking subsidiaries	(566)	(301)
Principal collected on nonbank entities' loans	4,286	3,175
Loans originated by nonbank entities	(2,861)	(1,995)
Net cash paid for acquisitions		(123)
Proceeds from sales of foreclosed assets	1,109	1,001
Changes in MSRs from purchases and sales	(8)	(4)
Other, net	270	(4,117)
Net cash provided by investing activities	12,695	18,701
Cash flows from financing activities:
Net change in deposits	(19,125)	15,725
Net change in short-term borrowings	2,240	(35,990)
Long-term debt:
Proceeds from issuance	1,415	3,811
Repayment	(16,508)	(17,877)
Preferred stock:
Cash dividends paid	(251)	(623)
Common stock:
Proceeds from issuance	464	524
Repurchased	(38)	(54)
Cash dividends paid	(260)	(1,443)
Excess tax benefits related to stock option payments	51
Net change in noncontrolling interests	(343)	(230)
Net cash used by financing activities	(32,355)	(36,157)
Net change in cash and due from banks	(10,779)	(1,577)
Cash and due from banks at beginning of period	27,080	23,763
Cash and due from banks at end of period	16,301	22,186
Supplemental cash flow disclosures:
Cash paid for interest	2,220	3,704
Cash paid for income taxes	$325	$249

Summary of Significant Accounti

Summary of Significant Accounting Policies
	3 Months Ended Mar. 31, 2010
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	1. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Wells Fargo Company is a diversified financial services company. We provide banking, insurance, investments, mortgage banking, investment banking, retail banking, brokerage, and consumer finance through banking stores, the internet and other distribution channels to consumers, businesses and institutions in all 50 states, the District of Columbia, and in other countries. When we refer to Wells Fargo, the Company, we, our or us in this Form 10-Q, we mean Wells Fargo Company and Subsidiaries (consolidated). Wells Fargo Company (the Parent) is a financial holding company and a bank holding company. We also hold a majority interest in a real estate investment trust, which has publicly traded preferred stock outstanding. Our accounting and reporting policies conform with U.S. generally accepted accounting principles (GAAP)and practices in the financial services industry. To prepare the financial statements in conformity with GAAP, management must make estimates based on assumptions about future economic and market conditions (for example, unemployment, market liquidity, real estate prices, etc.) that affect the reported amounts of assets and liabilities at the date of the financial statements and income and expenses during the reporting period and the related disclosures. Although our estimates contemplate current conditions and how we expect them to change in the future, it is reasonably possible that in 2010 actual conditions could be worse than anticipated in those estimates, which could materially affect our results of operations and financial condition. Management has made significant estimates in several areas, including the evaluation of other-than-temporary impairment (OTTI)on investment securities (Note 4), allowance for credit losses and purchased credit-impaired (PCI)loans (Note 5), valuing residential mortgage servicing rights (MSRs) (Notes 7 and 8) and financial instruments (Note 12), pension accounting (Note 14) and income taxes. Actual results could differ from those estimates. Among other effects, such changes could result in future impairments of investment securities, increases to the allowance for loan losses, as well as increased future pension expense. The information furnished in these unaudited interim statements reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the periods presented. These adjustments are of a normal recurring nature, unless otherwise disclosed in this Form 10-Q. The results of operations in the interim statements do not necessarily indicate the results that may be expected for the full year. The interim financial information should be read in conjunction with our Annual Report on Form 10-K for the year ended December31, 2009 (2009 Form 10-K). Certain amounts in the financial statements for prior years have been revised to conform with current financial statement presentation. Accounting Developments In first quarter 2010, we adopted the following accounting updates to the Financial Accounting Standards Board (FASB)Accounting Standards Codification (ASC or Codification):

Business Combinations

Business Combinations
	3 Months Ended Mar. 31, 2010
Business Combinations [Abstract]
Business Combinations	2. BUSINESS COMBINATIONS We regularly explore opportunities to acquire financial services companies and businesses. Generally, we do not make a public announcement about an acquisition opportunity until a definitive agreement has been signed. For information on additional consideration related to acquisitions, which is considered to be a guarantee, see Note 10 in this Report. We did not complete any acquisitions in the first quarter 2010. At March31, 2010, we had one pending business combination with total assets of approximately $198million. We expect to complete this transaction during second quarter 2010. On December31, 2008, Wells Fargo acquired Wachovia Corporation (Wachovia). The purchase accounting for the Wachovia acquisition was finalized as of December31, 2009. Costs associated with involuntary employee termination, contract terminations and closing duplicate facilities were recorded throughout 2009 and allocated to the purchase price. The following table summarizes the first quarter 2010 usage of the exit reserves associated with the Wachovia acquisition. Employee Contract Facilities (in millions) termination termination related Total Balance, December31, 2009 $ 355 58 344 757 Cash payments / utilization (49 ) (13 ) (13 ) (75 ) Balance, March31, 2010 $ 306 45 331 682

Federal Funds Sold, Securities

Federal Funds Sold, Securities Purchased under Resale Agreements and Other Short-Term Investments
	3 Months Ended Mar. 31, 2010
Federal Funds Sold, Securities Purchased Under Resale Agreements and Other Short-Term Investments [Abstract]
Federal Funds Sold, Securities Purchased Under Resale Agreements and Other Short-Term Investments	3. FEDERAL FUNDS SOLD, SECURITIES PURCHASED UNDER RESALE AGREEMENTS AND OTHER SHORT-TERM INVESTMENTS The following table provides the detail of federal funds sold, securities purchased under resale agreements and other short-term investments. March 31 , Dec. 31 , (in millions) 2010 2009 Federal funds sold and securities purchased under resale agreements $ 11,283 8,042 Interest-earning deposits 41,229 31,668 Other short-term investments 1,680 1,175 Total $ 54,192 40,885 We pledge certain financial instruments that we own to collateralize repurchase agreements and other securities financings. The types of collateral we pledge include securities issued by federal agencies, government-sponsored entities (GSEs), and domestic and foreign companies. We pledged $18.6billion at March31, 2010, and $14.8billion at December31, 2009, under agreements that permit the secured parties to sell or repledge the collateral. Pledged collateral where the secured party cannot sell or repledge was $771million at March31, 2010, and $434million at December31, 2009. We receive collateral from other entities under resale agreements and securities borrowings. We received $32.6billion at March31, 2010, and $31.4billion at December31, 2009, for which we have the right to sell or repledge the collateral. These amounts include securities we have sold or repledged to others with a fair value of $31.2billion at March31, 2010, and $29.7billion at December31, 2009.

Securities Available for Sale

Securities Available for Sale
	3 Months Ended Mar. 31, 2010
Securities Available for Sale [Abstract]
Securities Available for Sale	4. SECURITIES AVAILABLE FOR SALE The following table provides the cost and fair value for the major categories of securities available for sale carried at fair value. The net unrealized gains (losses)are reported on an after-tax basis as a component of cumulative other comprehensive income (OCI). There were no securities classified as held to maturity as of the periods presented. Gross Gross unrealized unrealized Fair (in millions) Cost gains losses value March31, 2010 Securities of U.S. Treasury and federal agencies $ 2,324 36 (10 ) 2,350 Securities of U.S. states and political subdivisions 15,413 776 (375 ) 15,814 Mortgage-backed securities: Federal agencies 74,411 3,492 (13 ) 77,890 Residential 20,155 2,203 (1,031 ) 21,327 Commercial 12,316 875 (1,320 ) 11,871 Total mortgage-backed securities 106,882 6,570 (2,364 ) 111,088 Corporate debt securities 8,412 1,365 (57 ) 9,720 Collateralized debt obligations 3,725 438 (312 ) 3,851 Other (1) 13,470 849 (335 ) 13,984 Total debt securities 150,226 10,034 (3,453 ) 156,807 Marketable equity securities: Perpetual preferred securities 4,331 333 (78 ) 4,586 Other marketable equity securities 528 567 (1 ) 1,094 Total marketable equity securities 4,859 900 (79 ) 5,680 Total $ 155,085 10,934 (3,532 ) 162,487 December31, 2009 Securities of U.S. Treasury and federal agencies $ 2,256 38 (14 ) 2,280 Securities of U.S. states and political subdivisions 13,212 683 (365 ) 13,530 Mortgage-backed securities: Federal agencies 79,542 3,285 (9 ) 82,818 Residential 28,153 2,480 (2,043 ) 28,590 Commercial 12,221 602 (1,862 ) 10,961 Total mortgage-backed securities 119,916 6,367 (3,914 ) 122,369 Corporate debt securities 8,245 1,167 (77 ) 9,335 Collateralized debt obligations 3,660 432 (367 ) 3,725 Other (1) 15,025 1,099 (245 ) 15,879 Total debt securities 162,314 9,786 (4,982 ) 167,118 Marketable equity securities: Perpetual preferred securities 3,677 263 (65 ) 3,875 Other marketable equity securities 1,072 654 (9 ) 1,717 Total marketable equity securities 4,749 917 (74 ) 5,592 Total $ 167,063 10,703 (5,056 ) 172,710 (1) Included in the Other category are asset-backed securities collateralized by auto leases or loans and cash reserves with a cost basis and fair value of $7.3billion and $7.5billion, respectiv

Loans and Allowance for Credit

Loans and Allowance for Credit Losses
	3 Months Ended Mar. 31, 2010
Loans and Allowance for Credit Losses [Abstract]
Loans and Allowance for Credit Losses	5. LOANS AND ALLOWANCE FOR CREDIT LOSSES The following table presents the major categories of loans outstanding including those subject to accounting guidance for PCI loans. Certain loans acquired in the Wachovia acquisition are accounted for as PCI loans and are included below, net of any remaining purchase accounting adjustments. Outstanding balances of all other loans are presented net of unearned income, net deferred loan fees, and unamortized discount and premium totaling $13.8billion at March31, 2010, and $14.6 billion, at December31, 2009. March 31, 2010 Dec. 31, 2009 All All PCI other PCI other (in millions) loans loans Total loans loans Total Commercial and commercial real estate: Commercial $ 1,431 149,156 150,587 1,911 156,441 158,352 Real estate mortgage 5,252 99,262 104,514 5,631 99,167 104,798 Real estate construction 3,538 24,299 27,837 3,713 25,994 29,707 Lease financing 13,887 13,887 14,210 14,210 Total commercial and commercial real estate 10,221 286,604 296,825 11,255 295,812 307,067 Consumer: Real estate 1-4 family first mortgage 37,378 203,150 240,528 38,386 191,150 229,536 Real estate 1-4 family junior lien mortgage 315 103,485 103,800 331 103,377 103,708 Credit card 22,525 22,525 24,003 24,003 Other revolving credit and installment 89,463 89,463 89,058 89,058 Total consumer 37,693 418,623 456,316 38,717 407,588 446,305 Foreign 1,593 26,696 28,289 1,733 27,665 29,398 Total loans $ 49,507 731,923 781,430 51,705 731,065 782,770 We pledge loans to secure borrowings from the FHLB and the Federal Reserve Bank as part of our liquidity management strategy. Loans pledged where the secured party does not have the right to sell or repledge totaled $318.3billion at March31, 2010, and $312.6billion at December31, 2009. We did not have any pledged loans where the secured party has the right to sell or repledge for the same respective periods. The total allowance reflects managements estimate of credit losses inherent in the loan portfolio at the balance sheet date. We consider the allowance for credit losses of $25.7billion adequate to cover credit losses inherent in the loan portfolio, including unfunded credit commitments, at March 31, 2010. The allowance for credit losses consists of the allowance for loan losses and the reserve for unfunded credit commitments. Changes in the allowance for credit losses were: Quarter ended March 31 , (in millions) 2010 2009 Balance, beginning of quarter $ 25,031 21,711 Provision for credit losses 5,330 4,558

Other Assets

Other Assets
	3 Months Ended Mar. 31, 2010
Other Assets [Abstract]
Other Assets	6. OTHER ASSETS The components of other assets were: March 31 , Dec. 31 , (in millions) 2010 2009 Nonmarketable equity investments: Cost method: Private equity investments $ 3,797 3,808 Federal bank stock 6,150 5,985 Total cost method 9,947 9,793 Equity method 6,371 5,138 Principal investments (1) 377 1,423 Total nonmarketable equity investments 16,695 16,354 Corporate/bank-owned life insurance 19,601 19,515 Accounts receivable 18,448 20,565 Interest receivable 5,256 5,946 Core deposit intangibles 10,305 10,774 Customer relationship and other amortized intangibles 2,068 2,154 Net deferred tax assets 1,483 3,212 Foreclosed assets: GNMA loans (2) 1,111 960 Other 2,970 2,199 Operating lease assets 2,253 2,395 Due from customers on acceptances 656 810 Other 14,755 19,296 Total other assets $ 95,601 104,180 (1) Principal investments are recorded at fair value with realized and unrealized gains (losses) included in net gains (losses)from equity investments in the income statement. (2) Consistent with regulatory reporting requirements, foreclosed assets include foreclosed real estate securing GNMA loans. Both principal and interest for GNMA loans secured by the foreclosed real estate are collectible because the GNMA loans are insured by the FHA or guaranteed by the VA. Income related to nonmarketable equity investments was: Quarter ended March 31 , (in millions) 2010 2009 Net gains (losses)from: Private equity investments $ (1 ) (220 ) Principal investments 9 (8 ) All other nonmarketable equity investments (17 ) (49 ) Net losses from nonmarketable equity investments $ (9 ) (277 )

Securitizations and Variable In

Securitizations and Variable Interest Entities
	3 Months Ended Mar. 31, 2010
Securitizations and Variable Interest Entities [Abstract]
Securitizations and Variable Interest Entities	7. SECURITIZATIONS AND VARIABLE INTEREST ENTITIES Involvement with SPEs In the normal course of business, we enter into various types of on- and off-balance sheet transactions with special purpose entities (SPEs), which are corporations, trusts or partnerships that are established for a limited purpose. Historically, the majority of SPEs were formed in connection with securitization transactions. In a securitization transaction, assets from our balance sheet are transferred to an SPE, which then issues to investors various forms of interests in those assets and may also enter into derivative transactions. In a securitization transaction, we typically receive cash and/or other interests in an SPE as proceeds for the assets we transfer. Also, in certain transactions, we may retain the right to service the transferred receivables and to repurchase those receivables from the SPE if the outstanding balance of the receivables falls to a level where the cost exceeds the benefits of servicing such receivables. In addition, we may purchase the right to service loans in a SPE that were transferred to the SPE by a third party. In connection with our securitization activities, we have various forms of ongoing involvement with SPEs, which may include: underwriting securities issued by SPEs and subsequently making markets in those securities; providing liquidity facilities to support short-term obligations of SPEs issued to third party investors; providing credit enhancement on securities issued by SPEs or market value guarantees of assets held by SPEs through the use of letters of credit, financial guarantees, credit default swaps and total return swaps; entering into other derivative contracts with SPEs; holding senior or subordinated interests in SPEs; acting as servicer or investment manager for SPEs; and providing administrative or trustee services to SPEs. SPEs are generally considered variable interest entities (VIEs). A VIE is an entity that has either a total equity investment that is insufficient to permit the entity to finance its activities without additional subordinated financial support or whose equity investors lack the characteristics of a controlling financial interest. Under existing accounting guidance, a VIE is consolidated by its primary beneficiary, the party that has both the power to direct the activities that most significantly impact the VIE and a variable interest that could potentially be significant to the VIE. A variable interest is a contractual, ownership or other interest that changes with changes in the fair value of the VIEs net assets. To determine whether or not a variable interest we hold could potentially be significant to the VIE, we consider both qualitative and quantitative factors regarding the nature, size and form of our involvement with the VIE. The classifications of assets and liabilities in our balance sheet associated with our transactions with VIEs follow: Transfers that VIEs that we VIEs we account do not that we for as secured (in millions) consolida

Mortgage Banking Activities

Mortgage Banking Activities
	3 Months Ended Mar. 31, 2010
Mortgage Banking Activities [Abstract]
Mortgage Banking Activities	8. MORTGAGE BANKING ACTIVITIES Mortgage banking activities, included in the Community Banking and Wholesale Banking operating segments, consist of residential and commercial mortgage originations and servicing. The changes in residential MSRs measured using the fair value method were: Quarter ended March 31 , (in millions) 2010 2009 Fair value, beginning of quarter $ 16,004 14,714 Adjustments from adoption of new consolidation accounting guidance (118 ) Acquired from Wachovia (1) 34 Servicing from securitizations or asset transfers 1,054 1,447 Net additions 936 1,481 Changes in fair value: Due to changes in valuation model inputs or assumptions (2) (777 ) (2,824 ) Other changes in fair value (3) (619 ) (980 ) Total changes in fair value (1,396 ) (3,804 ) Fair value, end of quarter $ 15,544 12,391 (1) First quarter 2009 results reflect refinements to initial purchase accounting adjustments. (2) Principally reflects changes in discount rates and prepayment speed assumptions, mostly due to changes in interest rates. (3) Represents changes due to collection/realization of expected cash flows over time. The changes in amortized commercial MSRs were: Quarter ended March 31 , (in millions) 2010 2009 Balance, beginning of quarter $ 1,119 1,446 Adjustments from adoption of new consolidation accounting guidance (5 ) Purchases (1) 1 4 Acquired from Wachovia (2) (127 ) Servicing from securitizations or asset transfers (1) 11 4 Amortization (57 ) (70 ) Balance, end of quarter (3) $ 1,069 1,257 Fair value of amortized MSRs: Beginning of quarter $ 1,261 1,555 End of quarter 1,283 1,392 (1) Based on March31, 2010, assumptions, the weighted-average amortization period for MSRs added during the first quarter of 2010 was approximately 18.9years. (2) First quarter 2009 results reflect refinements to initial purchase accounting adjustments. (3) There was no valuation allowance recorded for the periods presented. Commercial MSRs are evaluated for impairment purposes by the following asset classes: agency and non-agency commercial mortgage-backed securities (MBS), and loans. We present the components of our managed servicing portfolio in the table below at unpaid principal balance for loans serviced and subserviced for others and at book value for owned loans serviced. March 31 , Dec. 31 , (in billions) 2010 2009 Residential mortgage servicing Serviced for others $ 1,417 1,422 Owned loans serviced 371 364 Subservicing 10 10 Total residential servicing 1,798 1,796 Commercial mortgage servicing Serviced for others 449 454 Owned loans serviced 105 105 Subservicing 10 10 Total commercial servicin

Intangible Assets

Intangible Assets
	3 Months Ended Mar. 31, 2010
Intangible Assets [Abstract]
Intangible Assets	9. INTANGIBLE ASSETS The gross carrying value of intangible assets and accumulated amortization was: March 31, 2010 December 31, 2009 Gross Net Gross Net carrying Accumulated carrying carrying Accumulated carrying (in millions) value amortization value value amortization value Amortized intangible assets: MSRs (1) $ 1,610 541 1,069 1,606 487 1,119 Core deposit intangibles 15,133 4,828 10,305 15,140 4,366 10,774 Customer relationship and other intangibles 3,048 980 2,068 3,050 896 2,154 Total amortized intangible assets $ 19,791 6,349 13,442 19,796 5,749 14,047 MSRs (carried at fair value) (1) $ 15,544 15,544 16,004 16,004 Goodwill 24,819 24,819 24,812 24,812 Trademark 14 14 14 14 (1) See Note 8 in this Report for additional information on MSRs. The following table provides the current year and estimated future amortization expense for amortized intangible assets as of March31, 2010. Customer Amortized Core relationship commercial deposit and other (in millions) MSRs intangibles intangibles (1) Total Three months ended March31, 2010 (actual) $ 57 469 84 610 Estimate for year ending December31, 2010 $ 223 1,870 334 2,427 2011 200 1,593 286 2,079 2012 162 1,396 269 1,827 2013 127 1,241 249 1,617 2014 110 1,113 234 1,457 2015 102 1,022 212 1,336 (1) Includes amortization of lease intangibles reported in occupancy expense of $2million for the first three months of 2010, and estimated amortization of $8million, $8million, $8million, $5million, $4million, and $4million for 2010, 2011, 2012, 2013, 2014 and 2015, respectively. We based our projections of amortization expense shown above on existing asset balances at March 31, 2010. Future amortization expense may vary from these projections. For our goodwill impairment analysis, we allocate all of the goodwill to the individual operating segments. We identify reporting units that are one level below an operating segment (referred to as a component), and distinguish these reporting units based on how the segments and components are managed, taking into consideration the economic characteristics, nature of the products and customers of the components. We allocate goodwill to reporting units based on relative fair value, using certain performance metrics. We have revised prior period information to reflect this realignment. See Note 16 in this Report for further information on management reporting. The following table shows the allocation of goodwill to our

Guarantees and Legal Actions

Guarantees and Legal Actions
	3 Months Ended Mar. 31, 2010
Guarantees and Legal Actions [Abstract]
Guarantees and Legal Actions	10. GUARANTEES AND LEGAL ACTIONS Guarantees Guarantees are contracts that contingently require us to make payments to a guaranteed party based on an event or a change in an underlying asset, liability, rate or index. Guarantees are generally in the form of standby letters of credit, securities lending and other indemnifications, liquidity agreements, written put options, recourse obligations, residual value guarantees, and contingent consideration. The following table shows carrying value, maximum exposure to loss on our guarantees and the amount with a higher risk of performance. March 31, 2010 Dec. 31, 2009 Maximum Non- Maximum Non- Carrying exposure investment Carrying exposure investment (in millions) value to loss grade value to loss grade Standby letters of credit $ 147 48,162 20,189 148 49,997 21,112 Securities lending and other indemnifications 51 14,951 1,524 51 20,002 2,512 Liquidity agreements (1) 68 66 7,744 Written put options (1)(2) 769 8,199 3,824 803 8,392 3,674 Loans sold with recourse 103 5,030 3,246 96 5,049 2,400 Residual value guarantees 8 197 8 197 Contingent consideration 33 119 116 11 145 102 Other guarantees 119 2 55 2 Total guarantees $ 1,111 76,845 28,901 1,183 91,581 29,802 (1) Certain of these agreements are related to off-balance sheet entities and, accordingly, are also disclosed in Note 7 in this Report. (2) Written put options, which are in the form of derivatives, are also included in the derivative disclosures in Note 11 in this Report. Maximum exposure to loss and Non-investment grade are required disclosures under GAAP. Non-investment grade represents those guarantees on which we have a higher risk of being required to perform under the terms of the guarantee. If the underlying assets under the guarantee are non-investment grade (that is, an external rating that is below investment grade or an internal credit default grade that is equivalent to a below investment grade external rating), we consider the risk of performance to be high. Internal credit default grades are determined based upon the same credit policies that we use to evaluate the risk of payment or performance when making loans and other extensions of credit. These credit policies are more fully described in Note 5 in this Report. Maximum exposure to loss represents the estimated loss that would be incurred under an assumed hypothetical circumstance, despite what we believe is its extremely remote possibility, where the value of our interests and any associated collateral declines to zero, without any consideration of recovery or offset from any economic hedges. Accordingly, this required disclosure is not an indication of expected loss. We believe the carrying value, whic

Derivatives

Derivatives
	3 Months Ended Mar. 31, 2010
Derivatives [Abstract]
Derivatives	11. DERIVATIVES We use derivatives to manage exposure to market risk, interest rate risk, credit risk and foreign currency risk, to generate profits from proprietary trading and to assist customers with their risk management objectives. Derivative transactions are measured in terms of the notional amount, but this amount is not recorded on the balance sheet and is not, when viewed in isolation, a meaningful measure of the risk profile of the instruments. The notional amount is generally not exchanged, but is used only as the basis on which interest and other payments are determined. Our approach to managing interest rate risk includes the use of derivatives. This helps minimize significant, unplanned fluctuations in earnings, fair values of assets and liabilities, and cash flows caused by interest rate volatility. This approach involves modifying the repricing characteristics of certain assets and liabilities so that changes in interest rates do not have a significant adverse effect on the net interest margin and cash flows. As a result of interest rate fluctuations, hedged assets and liabilities will gain or lose market value. In a fair value hedging strategy, the effect of this unrealized gain or loss will generally be offset by the gain or loss on the derivatives linked to the hedged assets and liabilities. In a cash flow hedging strategy, we manage the variability of cash payments due to interest rate fluctuations by the effective use of derivatives linked to hedged assets and liabilities. We use derivatives that are designed as qualifying hedge contracts as defined by the Derivatives and Hedging topic in the Codification as part of our interest rate and foreign currency risk management, including interest rate swaps, caps and floors, futures and forward contracts, and options. We also offer various derivatives, including interest rate, commodity, equity, credit and foreign exchange contracts, to our customers but usually offset our exposure from such contracts by purchasing other financial contracts. The customer accommodations and any offsetting financial contracts are treated as free-standing derivatives. Free-standing derivatives also include derivatives we enter into for risk management that do not otherwise qualify for hedge accounting, including economic hedge derivatives. To a lesser extent, we take positions based on market expectations or to benefit from price differentials between financial instruments and markets. Additionally, free-standing derivatives include embedded derivatives that are required to be separately accounted for from their host contracts. Our derivative activities are monitored by the Corporate Asset/Liability Management Committee (Corporate ALCO). Our Treasury function, which includes asset/liability management, is responsible for various hedging strategies developed through analysis of data from financial models and other internal and industry sources. We incorporate the resulting hedging strategies into our overall interest rate risk management and trading strategies. The total notional or contractual amounts and fair values for derivatives were:

Fair Values of Assets and Liabi

Fair Values of Assets and Liabilities
	3 Months Ended Mar. 31, 2010
Fair Values of Assets and Liabilities [Abstract]
Fair Values of Assets and Liabilities	12. FAIR VALUES OF ASSETS AND LIABILITIES We use fair value measurements to record fair value adjustments to certain assets and liabilities and to determine fair value disclosures. Trading assets, securities available for sale, derivatives, certain loans, prime residential MHFS, certain commercial LHFS, residential MSRs, principal investments and securities sold but not yet purchased (short sale liabilities) are recorded at fair value on a recurring basis. Certain loans and long-term debt are carried at fair value on a recurring basis beginning on January1, 2010. Additionally, from time to time, we may be required to record at fair value other assets on a nonrecurring basis, such as nonprime residential and commercial MHFS, certain LHFS, loans held for investment and certain other assets. These nonrecurring fair value adjustments typically involve application of lower-of-cost-or-market accounting or write-downs of individual assets. Under fair value option accounting guidance, we elected to measure MHFS at fair value prospectively for new prime residential MHFS originations, for which an active secondary market and readily available market prices existed to reliably support fair value pricing models used for these loans. We also elected to remeasure at fair value certain of our other interests held related to residential loan sales and securitizations. We believe the election for MHFS and other interests held (which are now hedged with free-standing derivatives (economic hedges) along with our MSRs) reduces certain timing differences and better matches changes in the value of these assets with changes in the value of derivatives used as economic hedges for these assets. Upon the acquisition of Wachovia, we elected to measure at fair value certain portfolios of LHFS that we intend to hold for trading purposes and that may be economically hedged with derivative instruments. In addition, we elected to measure at fair value certain letters of credit that are hedged with derivative instruments to better reflect the economics of the transactions. These letters of credit are included in trading account assets or liabilities. Upon adoption of new consolidation accounting guidance on January1, 2009, we elected to measure certain loans and long-term debt of consolidated VIEs under the fair value option. We elected the fair value option to effectively continue fair value accounting through earnings for our interests in these VIEs. See Notes 1 and 7 in this Report for additional information. Fair Value Hierarchy In accordance with the Fair Value Measurements and Disclosures topic of the Codification, we group our assets and liabilities measured at fair value in three levels, based on the markets in which the assets and liabilities are traded and the reliability of the assumptions used to determine fair value. These levels are: Level 1 Valuation is based upon quoted prices for identical instruments traded in active markets. Level 2 Valuation is based upon quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-based valuat

Preferred Stock

Preferred Stock
	3 Months Ended Mar. 31, 2010
Preferred Stock [Abstract]
Preferred Stock	13. PREFERRED STOCK We are authorized to issue 20million shares of preferred stock and 4million shares of preference stock, both without par value. Preferred shares outstanding rank senior to common shares both as to dividends and liquidation preference but have no general voting rights. We have not issued any preference shares under this authorization. The following table provides detail of preferred stock at March31, 2010, which is unchanged from December31, 2009. Shares issued and Carrying (in millions, except shares) outstanding Par value value Discount DEP Shares Dividend Equalization Preferred Shares, $10 liquidation preference per share, 97,000 shares authorized 96,546 $ SeriesJ (1) 8.00% Non-Cumulative Perpetual ClassA Preferred Stock, SeriesJ, $1,000 liquidation preference per share, 2,300,000 shares authorized 2,150,375 2,150 1,995 155 SeriesK (1) 7.98% Fixed-to-Floating Non-Cumulative Perpetual ClassA Preferred Stock, SeriesK, $1,000 liquidation preference per share, 3,500,000 shares authorized 3,352,000 3,352 2,876 476 SeriesL (1) 7.50% Non-Cumulative Perpetual Convertible ClassA Preferred Stock, SeriesL, $1,000 liquidation preference per share, 4,025,000 shares authorized 3,968,000 3,968 3,200 768 Total 9,566,921 $ 9,470 8,071 1,399 (1) Preferred shares qualify as Tier 1 capital. In addition to the preferred stock issued and outstanding described in the table above, we have the following preferred stock authorized with no shares issued and outstanding: SeriesA Non-Cumulative Perpetual Preferred Stock, SeriesA, $100,000 liquidation preference per share, 25,001 shares authorized SeriesB Non-Cumulative Perpetual Preferred Stock, SeriesB, $100,000 liquidation preference per share, 17,501 shares authorized SeriesG 7.25% ClassA Preferred Stock, SeriesG, $15,000 liquidation preference per share, 50,000 shares authorized SeriesH Floating ClassA Preferred Stock, SeriesH, $20,000 liquidation preference per share, 50,000 shares authorized SeriesI 5.80% Fixed to Floating ClassA Preferred Stock, SeriesI, $100,000 liquidation preference per share, 25,010 shares authorized ESOP Cumulative Convertible Preferred Stock All shares of our ESOP (Employee Stock Ownership Plan) Cumulative Convertible Preferred Stock (ESOP Preferred Stock) were issued to a trustee acting on behalf of the Wells Fargo Company 401(k) Plan (the 401(k) Plan). Dividends on the ESOP Preferred Stock are cumulative from the date of initial issuance and are payable quarterly at annual rates ranging from 8.50% to 11.75%, depending upon the year of issuance. Each share of ESOP Preferred Stock released from the unallocated reserve of the 401(k) Plan is converted into shares of our common stock based on the stated value of the

Employee Benefits

Employee Benefits
	3 Months Ended Mar. 31, 2010
Employee Benefits [Abstract]
Employee Benefits	14. EMPLOYEE BENEFITS We sponsor a noncontributory qualified defined benefit retirement plan, the Wells Fargo Company Cash Balance Plan (Cash Balance Plan), which covers eligible employees of Wells Fargo; the benefits earned under the Cash Balance Plan were frozen effective July1, 2009. On April28, 2009, the Board of Directors approved amendments to freeze the benefits earned under the Wells Fargo qualified and supplemental Cash Balance Plans and the Wachovia Corporation Pension Plan, a cash balance plan that covered eligible employees of the legacy Wachovia Corporation, and to merge the Wachovia Pension Plan into the qualified Cash Balance Plan. These actions became effective on July1, 2009. The net periodic benefit cost was: 2010 2009 Pension benefits Pension benefits Non- Other Non- Other (in millions) Qualified qualified benefits Qualified qualified benefits Quarter ended March31, Service cost $ 1 3 107 4 3 Interest cost 139 9 20 145 10 21 Expected return on plan assets (179 ) (7 ) (163 ) (7 ) Amortization of net actuarial loss 26 1 106 2 1 Amortization of prior service cost (1 ) (1 ) (1 ) Net periodic benefit cost $ (13 ) 10 15 195 15 17

Earnings Per Common Share

Earnings Per Common Share
	3 Months Ended Mar. 31, 2010
Earnings Per Common Share [Abstract]
Earnings Per Common Share	15. EARNINGS PER COMMON SHARE The table below shows earnings per common share and diluted earnings per common share and reconciles the numerator and denominator of both earnings per common share calculations. For first quarter 2010 and 2009, weighted-average options to purchase 190.1million and 293.2 million shares, respectively, and a warrant to purchase 110.3million for both periods were outstanding but not included in the calculation of diluted earnings per common share because the exercise price was higher than the weighted-average market price, and therefore were antidilutive. Quarter ended March 31 , (in millions, except per share amounts) 2010 2009 Wells Fargo net income $ 2,547 3,045 Less: Preferred stock dividends, accretion and other (1) 175 661 Wells Fargo net income applicable to common stock (numerator) $ 2,372 2,384 Earnings per common share Average common shares outstanding (denominator) 5,190.4 4,247.4 Per share $ 0.46 0.56 Diluted earnings per common share Average common shares outstanding 5,190.4 4,247.4 Add: Stock options 31.1 1.8 Restricted share rights 3.7 0.1 Diluted average common shares outstanding (denominator) 5,225.2 4,249.3 Per share $ 0.45 0.56 (1) For first quarter 2010, includes $184million of preferred stock dividends.

Operating Segments

Operating Segments
	3 Months Ended Mar. 31, 2010
Operating Segments [Abstract]
Operating Segments	16. OPERATING SEGMENTS We have three lines of business for management reporting: Community Banking; Wholesale Banking; and Wealth, Brokerage and Retirement. The results for these lines of business are based on our management accounting process, which assigns balance sheet and income statement items to each responsible operating segment. This process is dynamic and, unlike financial accounting, there is no comprehensive, authoritative guidance for management accounting equivalent to GAAP. The management accounting process measures the performance of the operating segments based on our management structure and is not necessarily comparable with similar information for other financial services companies. We define our operating segments by product type and customer segment. If the management structure and/or the allocation process changes, allocations, transfers and assignments may change. In first quarter 2010, we conformed certain funding and allocation methodologies of legacy Wachovia to those of Wells Fargo; in addition integration expense related to mergers other than the Wachovia merger are now included in segment results. Prior periods have been revised to reflect both changes. Community Banking offers a complete line of diversified financial products and services to consumers and small businesses with annual sales generally up to $20million in which the owner generally is the financial decision maker. Community Banking also offers investment management and other services to retail customers and securities brokerage through affiliates. These products and services include the Wells Fargo Advantage FundsSM, a family of mutual funds. Loan products include lines of credit, equity lines and loans, equipment and transportation (recreational vehicle and marine) loans, education loans, origination and purchase of residential mortgage loans and servicing of mortgage loans and credit cards. Other credit products and financial services available to small businesses and their owners include receivables and inventory financing, equipment leases, real estate financing, Small Business Administration financing, venture capital financing, cash management, payroll services, retirement plans, Health Savings Accounts and merchant payment processing. Consumer and business deposit products include checking accounts, savings deposits, market rate accounts, Individual Retirement Accounts, time deposits and debit cards. Community Banking serves customers through a complete range of channels, including traditional banking stores, in-store banking centers, business centers, ATMs, and Wells Fargo Customer Connection, a 24-hours a day, seven days a week telephone service. Online banking services include single sign-on to online banking, bill pay and brokerage, as well as online banking for small business. Community Banking also includes Wells Fargo Financial consumer finance and auto finance operations. Consumer finance operations make real estate loans to individuals in the United States and the Pacific Rim, and also make direct consumer loans to individuals and purchase sales finance contracts from retail merchants from offices throughout the Unite

Condensed Consolidating Financi

Condensed Consolidating Financial Statements
	3 Months Ended Mar. 31, 2010
Financial Statements [Abstract]
Condensed Consolidating Financial Statements	17. CONDENSED CONSOLIDATING FINANCIAL STATEMENTS Following are the condensed consolidating financial statements of the Parent and Wells Fargo Financial, Inc. and its wholly-owned subsidiaries. Condensed Consolidating Statement of Income Quarter ended March 31, 2010 Other consolidating Consolidated (in millions) Parent WFFI subsidiaries Eliminations Company Dividends from subsidiaries: Bank $ Nonbank 6 (6 ) Interest income from loans 726 9,350 (38 ) 10,038 Interest income from subsidiaries 348 (348 ) Other interest income 78 30 3,079 3,187 Total interest income 432 756 12,429 (392 ) 13,225 Deposits 735 735 Short-term borrowings 23 9 94 (108 ) 18 Long-term debt 718 287 549 (278 ) 1,276 Other interest expense 49 49 Total interest expense 741 296 1,427 (386 ) 2,078 Net interest income (309 ) 460 11,002 (6 ) 11,147 Provision for credit losses 321 5,009 5,330 Net interest income after provision for credit losses (309 ) 139 5,993 (6 ) 5,817 Noninterest income Fee income nonaffiliates 28 5,779 5,807 Other 211 47 4,387 (151 ) 4,494 Total noninterest income 211 75 10,166 (151 ) 10,301 Noninterest expense Salaries and benefits (33 ) 70 6,591 6,628 Other 258 147 5,235 (151 ) 5,489 Total noninterest expense 225 217 11,826 (151 ) 12,117 Income (loss)before income tax expense (benefit)and equity in undistributed income of subsidiaries (323 ) (3 ) 4,333 (6 ) 4,001 Income tax expense (benefit) (90 ) (1 ) 1,492 1,401 Equity in undistributed income of subsidiaries 2,780 (2,780 ) Net income (loss)before noncontrolling interests 2,547 (2 ) 2,841 (2,786 ) 2,600 Less: Net income from noncontrolling interests 53 53 Parent, WFFI, Other and Wells Fargo net income (loss) $ 2,547 (2 ) 2,788 (2,786 ) 2,547 Condensed Consolidating Statement of Income Quarter ended March 31, 2009 Other consolidating Consolidated (in millions) Parent WFFI subsidiaries Eliminations Company Dividends from subsidiaries: Bank $ 716 (716 ) Nonbank Interest income from loans 985 9,785

Regulatory and Agency Capital R

Regulatory and Agency Capital Requirements
	3 Months Ended Mar. 31, 2010
Regulatory and Agency Capital Requirements [Abstract]
Regulatory and Agency Capital Requirements	18. REGULATORY AND AGENCY CAPITAL REQUIREMENTS The Company and each of its subsidiary banks are subject to various regulatory capital adequacy requirements administered by the Federal Reserve Board (FRB)and the Office of the Comptroller of the Currency, respectively. Effective March20, 2010, Wachovia Bank, N.A. merged with and into Wells Fargo Bank, N.A. We do not consolidate our wholly-owned trusts (the Trusts) formed solely to issue trust preferred securities. The amount of trust preferred securities and perpetual preferred purchase securities issued by the Trusts that was includable in Tier 1 capital in accordance with FRB risk-based capital guidelines was $19.3billion at March31, 2010. The junior subordinated debentures held by the Trusts were included in the Companys long-term debt. To be well capitalized under the FDICIA For capital prompt corrective Actual adequacy purposes action provisions (in billions) Amount Ratio Amount Ratio Amount Ratio As of March31, 2010: Total capital (to risk-weighted assets) Wells Fargo Company $ 137.6 13.90 % $79.2 8.00 % Wells Fargo Bank, N.A. 120.9 13.29 72.8 8.00 $90.9 10.00 % Tier 1 capital (to risk-weighted assets) Wells Fargo Company 98.3 9.93 39.6 4.00 Wells Fargo Bank, N.A. 92.6 10.18 36.4 4.00 54.6 6.00 Tier 1 capital (to average assets) (Leverage ratio) Wells Fargo Company 98.3 8.34 47.2 4.00 (1) Wells Fargo Bank, N.A. 92.6 8.76 42.3 4.00 (1) 52.8 5.00 (1) The leverage ratio consists of Tier 1 capital divided by quarterly average total assets, excluding goodwill and certain other items. The minimum leverage ratio guideline is 3% for banking organizations that do not anticipate significant growth and that have well-diversified risk, excellent asset quality, high liquidity, good earnings, effective management and monitoring of market risk and, in general, are considered top-rated, strong banking organizations. Certain subsidiaries of the Company are approved seller/servicers, and are therefore required to maintain minimum levels of shareholders equity, as specified by various agencies, including the United States Department of Housing and Urban Development, GNMA, FHLMC and FNMA. At March31, 2010, each seller/servicer met these requirements. Certain broker-dealer subsidiaries of the Company are subject to SEC Rule15c3-1 (the Net Capital Rule), which requires that we maintain minimum levels of net capital, as defined. At March31, 2010, each of these subsidiaries met these requirements.