EXHIBIT 11
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
Quarter Nine months
ended Sept. 30, ended Sept. 30,
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(in millions) 1996 1995 1996 1995
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PRIMARY EARNINGS PER COMMON SHARE
Net income $ 321 $ 261 $ 948 $ 726
Less preferred dividends 19 10 47 31
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Net income for calculating primary
earnings per common share $ 302 $ 251 $ 901 $ 695
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Average common shares outstanding 93.7 47.9 78.8 49.2
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PRIMARY EARNINGS PER COMMON SHARE $ 3.23 $ 5.23 $11.42 $14.14
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FULLY DILUTED EARNINGS PER COMMON SHARE (1)
Net income $ 321 $ 261 $ 948 $ 726
Less preferred dividends 19 10 47 31
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Net income for calculating fully
diluted earnings per common share $ 302 $ 251 $ 901 $ 695
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Average common shares outstanding 93.7 47.9 78.8 49.2
Add exercise of options, warrants and
share rights, reduced by the number
of shares that could have been
purchased with the proceeds from
such exercise 1.6 1.0 1.6 1.1
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Average common shares outstanding as adjusted 95.3 48.9 80.4 50.3
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FULLY DILUTED EARNINGS PER COMMON SHARE $ 3.17 $ 5.12 $11.20 $13.83
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(1) This presentation is submitted in accordance with Item 601(b)(11) of
Regulation S-K. This presentation is not required by
APB Opinion No. 15, because it results in dilution of less than 3%.