EXHIBIT 11
WELLS FARGO & COMPANY AND SUBSIDIARIES
COMPUTATION OF EARNINGS PER COMMON SHARE
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Quarter Six months
ended June 30, ended June 30,
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(in millions) 1997 1996 1997 1996
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PRIMARY EARNINGS PER COMMON SHARE
Net income $ 228 $ 363 $ 568 $ 627
Less preferred dividends 6 19 17 29
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Net income for calculating primary
earnings per common share $ 222 $ 344 $ 551 $ 598
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Average common shares outstanding 89.0 95.6 89.9 71.3
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PRIMARY EARNINGS PER COMMON SHARE $2.49 $3.61 $6.12 $8.39
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FULLY DILUTED EARNINGS PER COMMON SHARE (1)
Net income $ 228 $ 363 $ 568 $ 627
Less preferred dividends 6 19 17 29
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Net income for calculating fully
diluted earnings per common share $ 222 $ 344 $ 551 $ 598
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Average common shares outstanding 89.0 95.6 89.9 71.3
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 1.0 1.8 1.0 1.8
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Average common shares outstanding as adjusted 90.0 97.4 90.9 73.1
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FULLY DILUTED EARNINGS PER COMMON SHARE $2.47 $3.54 $6.06 $8.19
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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%.