<Page>
Exhibit 25.1
================================================================================
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------------
FORM T-1
STATEMENT OF ELIGIBILITY
UNDER THE TRUST INDENTURE ACT OF 1939 OF A
CORPORATION DESIGNATED TO ACT AS TRUSTEE
-----------------------------
____ CHECK IF AN APPLICATION TO DETERMINE ELIGIBILITY OF A TRUSTEE PURSUANT TO
SECTION 305(b) (2)
WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION
(Exact name of trustee as specified in its charter)
A U.S. NATIONAL BANKING ASSOCIATION 41-1592157
(Jurisdiction of incorporation or (I.R.S. Employer
organization if not a U.S. national Identification No.)
bank)
SIXTH STREET AND MARQUETTE AVENUE
Minneapolis, Minnesota 55479
(Address of principal executive offices) (Zip code)
Stanley S. Stroup, General Counsel
WELLS FARGO BANK MINNESOTA, NATIONAL ASSOCIATION
Sixth Street and Marquette Avenue
Minneapolis, Minnesota 55479
(612) 667-1234
(Name, address and telephone number of agent for service)
-----------------------------
REXNORD CORPORATION
(Exact name of obligor as specified in its charter)
DELAWARE 04-3722228
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
4701 GREENFIELD AVENUE
MILWAUKEE, WI 53214
(Address of principal executive offices) (Zip code)
10 1/8% SENIOR SUBORDINATED NOTES DUE 2012
GUARANTEES OF THE 10 1/8% SENIOR SUBORDINATED NOTES DUE 2012
-----------------------------
(Title of the indenture securities)
================================================================================
<Page>
Item 1. GENERAL INFORMATION. Furnish the following information as to the
trustee:
(a) Name and address of each examining or supervising
authority to which it is subject.
Comptroller of the Currency
Treasury Department
Washington, D.C.
Federal Deposit Insurance Corporation
Washington, D.C.
The Board of Governors of the Federal Reserve System
Washington, D.C.
(b) Whether it is authorized to exercise corporate trust
powers.
The trustee is authorized to exercise corporate trust
powers.
Item 2. AFFILIATIONS WITH OBLIGOR. If the obligor is an affiliate of the
trustee, describe each such affiliation.
None with respect to the trustee.
No responses are included for Items 3-14 of this Form T-1 because the obligor is
not in default as provided under Item 13.
Item 15. FOREIGN TRUSTEE. Not applicable.
Item 16. LIST OF EXHIBITS. List below all exhibits filed as a part of this
Statement of Eligibility. Wells Fargo Bank
incorporates by reference into this Form T-1 the
exhibits attached hereto.
<Table>
Exhibit 1. a. A copy of the Articles of Association of the
trustee now in effect.**
Exhibit 2. a. A copy of the certificate of authority of the
trustee to commence business issued June 28, 1872,
by the Comptroller of the Currency to The
Northwestern National Bank of Minneapolis.*
b. A copy of the certificate of the Comptroller of the
Currency dated January 2, 1934, approving the
consolidation of The Northwestern National Bank of
Minneapolis and The Minnesota Loan and Trust
Company of Minneapolis, with the surviving entity
being titled Northwestern National Bank and Trust
Company of Minneapolis.*
c. A copy of the certificate of the Acting Comptroller
of the Currency dated January 12, 1943, as to
change of corporate title of Northwestern National
Bank and Trust Company of Minneapolis to
Northwestern National Bank of Minneapolis.*
d. A copy of the letter dated May 12, 1983 from the
Regional Counsel, Comptroller of the Currency,
acknowledging receipt of notice of name change
effective May 1, 1983 from Northwestern National
</Table>
<Page>
<Table>
Bank of Minneapolis to Norwest Bank Minneapolis,
National Association.*
e. A copy of the letter dated January 4, 1988 from the
Administrator of National Banks for the Comptroller
of the Currency certifying approval of
consolidation and merger effective January 1, 1988
of Norwest Bank Minneapolis, National Association
with various other banks under the title of
"Norwest Bank Minnesota, National Association."*
f. A copy of the letter dated July 10, 2000 from the
Administrator of National Banks for the Comptroller
of the Currency certifying approval of
consolidation effective July 8, 2000 of Norwest
Bank Minnesota, National Association with various
other banks under the title of "Wells Fargo Bank
Minnesota, National Association."***
Exhibit 3. A copy of the authorization of the trustee to exercise
corporate trust powers issued January 2, 1934, by the
Federal Reserve Board.*
Exhibit 4. Copy of By-laws of the trustee as now in effect.**
Exhibit 5. Not applicable.
Exhibit 6. The consent of the trustee required by Section 321(b) of
the Act.
Exhibit 7. Report of condition of the trustee published pursuant to
law or the requirements of its supervising or examining
authority.
Exhibit 8. Not applicable.
Exhibit 9. Not applicable.
</Table>
* Incorporated by reference to exhibit number 25 filed with
registration statement number 33-66026.
** Incorporated by reference to the exhibit of the same number to
the trustee's Form T-1 filed as exhibit 99.T3G to the Form T-3
dated July 13, 2000 of GB Property Funding Corp. file number
022-22473.
*** Incorporated by reference to exhibit number 2f to the
trustee's Form T-1 filed as exhibit 25.1 to the Current Report
Form 8-K dated September 8, 2000 of NRG Energy Inc. file
number 001-15891.
SIGNATURE
<Page>
Pursuant to the requirements of the Trust Indenture Act of 1939, as amended, the
trustee, Wells Fargo Bank Minnesota, National Association, a national banking
association organized and existing under the laws of the United States of
America, has duly caused this statement of eligibility to be signed on its
behalf by the undersigned, thereunto duly authorized, all in the City of
Minneapolis and State of Minnesota on the 7th day of January 2003.
WELLS FARGO BANK MINNESOTA,
NATIONAL ASSOCIATION
/s/ Michael T. Lechner
-----------------------------------
Michael T. Lechner
Assistant Vice President
<Page>
EXHIBIT 6
January 7, 2003
Securities and Exchange Commission
Washington, D.C. 20549
Gentlemen:
In accordance with Section 321(b) of the Trust Indenture Act of 1939, as
amended, the undersigned hereby consents that reports of examination of the
undersigned made by Federal, State, Territorial, or District authorities
authorized to make such examination may be furnished by such authorities to the
Securities and Exchange Commission upon its request therefor.
Very truly yours,
WELLS FARGO BANK MINNESOTA,
NATIONAL ASSOCIATION
/s/ Michael T. Lechner
-----------------------------------
Michael T. Lechner
Assistant Vice President
<Page>
EXHIBIT 7
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-1
Legal Title of Bank
MINNEAPOLIS 3
- -------------------------------------------
City
MN 55479
- -------------------------------------------
State Zip Code
FDIC Certificate Number - 05208
CONSOLIDATED REPORT OF INCOME
FOR THE PERIOD JANUARY 1, 2002 - DECEMBER 31, 2002
ALL REPORT OF INCOME SCHEDULES ARE TO BE REPORTED ON A CALENDAR YEAR-TO-DATE
BASIS IN THOUSANDS OF DOLLARS.
SCHEDULE RI--INCOME STATEMENT
<Table>
<Caption>
Dollar Amount in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------
1. Interest Income:
a. Interest and fee income on loans;
(1) In domestic offices;
(a) Loans secured by real estate 4011 1,564,186 1.a.1.a
(b) Loans to finance agricultural production and other loans to farmers 4024 14,959 1.a.1.b
(c) Commercial and industrial loans 4012 357,414 1.a.1.c
(d) Loans to individuals for household, family, and other personal expendiatures:
(1) Credit cards B485 47,913 1.a.1.d.1
(2) Other (includes single payment, installment, all student loans, and revolving
credit plans other than credit cards) B486 81,860 1.a.1.d.2
(e) Loans to foreign governments and official institutions 4056 0 1.a.1.e
(f) All other loans in domestic offices B487 176,110 1.a.1.f
(2) In foreign offices, Edge and Agreement subsidiaries, and IBFs 4059 89 1.a.2
(3) Total interest and fee income on loans (sum of Items 1.a.(1)(a) through 1.a.(2)) 4010 2,242,531 1.a.3
b. Income from lease financing receivables 4065 166,946 1.b
c. Interest income on balances due from depository institutions: (1) 4115 799 1.c
d. Interest and dividend income on securities:
(1) U.S. Treasury securities and U.S. Government agency obligations (excluding
mortgage-backed securities) B488 17,297 1.d.1
(2) Mortgage-backed securities B489 77,097 1.d.2
(3) All other securities (includes securities issued by states and political subdivisions
in the U.S.) 4060 35,136 1.d.3
e. Interest income from trading assets 4069 249 1.e
f. Interest income on federal funds sold and securities purchased under agreements to resell 4020 225,939 1.f
g. Other interest income 4518 14,556 1.g
h. Total interest income (sum of items 1.a.(3) through 1.g) 4107 2,780,550 1.h
2. Interest expense:
a. Interest on deposits:
(1) Interest on deposits in domestic offices;
(a) Transaction accounts (NOW accounts, ATS accounts, and
telephone and preauthorized transfer accounts) 4508 3,011 2.a.1.a
(b) Nontransaction accounts;
(1) Savings deposits (includes MMDAs) 0093 85,530 2.a.1.b.1
(2) Time deposits of $100,000 or more A517 8,921 2.a.1.b.2
(3) Time deposits of less than $100,000 A518 69,647 2.a.1.b.3
(2) Interest on deposits in foreign offices, Edge and Agreement subsidiaries, and IBFs 4172 200,546 2.a.2
b. Expense of federal funds purchased and securities sold under agreements to repurchase 4180 93,934 2.b
c. Interest on trading liabilities and other borrowed money 4185 167,593 2.c
</Table>
- ----------
(1) Includes interest income on time certificates of deposits not held for
trading.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-2
Legal Title of Bank
FDIC Certificate Number - 05208 4
SCHEDULE RI--CONTINUED
<Table>
<Caption>
Year-to-date
-----------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------
2. Interest expense (continued):
d. Interest on subordinated notes and debentures 4200 1 2.d
e. Total interest expense (sum of items 2.a through 2.d) 4073 629,183 2.e
3. Net interest income (item 1.h minus 2.e) 4074 2,151,367 3
4. Provision for loan and lease losses 4230 94,753 4
5. Noninterest income:
a. Income from fiduciary activities(1) 4070 242,679 5.a
b. Service charges on deposit accounts in domestic offices 4080 174,964 5.b
c. Trading revenue(2) A220 (1,072) 5.c
d. Investment banking, advisory, brokerage, and underwriting fees
and commissions B490 123,924 5.d
e. Venture capital revenue B491 0 5.e
f. Net servicing fees B492 0 5.f
g. Net securitization income B493 0 5.g
h. Insurance commissions and fees B494 90,713 5.h
i. Net gains (losses) on sales of loans and leases 5416 862 5.i
j. Net gains (losses) on sales of other real estate owned 5415 743 5.j
k. Net gains (losses) on sales of other assets (excluding securities) B496 (232,200) 5.k
l. Other noninterest income* B497 464,899 5.l
m. Total noninterest income (sum of items 5.a through 5.l) 4079 865,512 5.m
6. a. Realized gains (losses) on held-to-maturity securities 3521 0 6.a
b. Realized gains (losses) on available-for-sale securities 3196 13,940 6.b
7. Noninterest expense:
a. Salaries and employee benefits 4135 575,180 7.a
b. Expenses of premises and fixed assets (net of rental income)
(excluding salaries and employee benefits and mortgage interest) 4217 132,681 7.b
c. (1) GOODWILL IMPAIRMENT LOSSES C216 0 7.c.1
(2) AMORTIZATION EXPENSE AND IMPAIRMENT LOSSES FOR
OTHER INTANGIBLE ASSETS C232 1,566 7.c.2
d. Other noninterest expense * 4092 757,259 7.d
e. Total noninterest expense (sum of items 7.a through 7.d) 4093 1,466,686 7.e
8. Income (loss) before income taxes and extraordinary
items, and other adjustments (item 3 plus or minus items 4, 5.m,
6.a, 6.b, and 7.e) 4301 1,469,380 8
9. Applicable income taxes (on item 8) 4302 525,875 9
10. Income (loss) before extraordinary items and other adjusments
(item 8 minus item 9) 4300 943,505 0
11. Extraordinary items and other adjustments, net of income taxes * 4320 0 11
12. Net income (loss) (sum of items 10 and 11) 4340 943,505 12
</Table>
- ----------
* Describe on Schedule RI-E -- Explanations.
(1) For banks required to complete Schedule RC-T, items 12 through 19, income
from fiduciary activities reported in Schedule RI, item 5.a, must equal the
amount reported in Schedule RC-T, item 19.
(2) For banks required to complete Schedule RI, Memorandum item 8, trading
revenue reported in Schedule RI, item 5.c must equal the sum of Memorandum
items 8.a through 8.d.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-3
Legal Title of Bank
FDIC Certificate Number - 05208 5
SCHEDULE RI--CONTINUED
<Table>
<Caption>
Year-to-Date
----------------------
Memoranda Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Interest expense incurred to carry tax-exempt securities, loans, and leases acquired after
August 7, 1986, that is not deductible for federal income tax purposes 4513 287 M.1
2. Income from the sale and servicing of mutual funds and annuities in domestic offices
(included in Schedule RI, item 8) 8431 100,434 M.2
3. Income on tax-exempt loans and leases to states and political subdivisions in
the U.S. (included in Schedule RI, items 1.a and 1.b) 4313 2,469 M.3
4. Income on tax-exempt securities issued by states and political subdivisions in the U.S.
(included in Schedule RI, item 1.d.(3)) 4507 16,350 M.4
5. Number of full-time equivalent employees at end of current period (round to NUMBER
nearest whole number) 4150 7,514 M.5
6. Not applicable
7. If the reporting bank has restated its balance sheet as a result of applying push down CCYY / MM / DD
accounting this calendar year, report the date of the bank's acquisition (1) 9106 N/A M.7
8. Trading revenue (from cash instruments and derivative instruments) (sum of
Memorandum items 8.a through 8.d must equal Schedule RI, item 5.c) (TO BE
COMPLETED BY BANKS THAT REPORTED AVERAGE TRADING ASSETS (SCHEDULE RC-K, ITEM 7)
OF $2 MILLION OR MORE FOR ANY QUARTER OF THE PRECEDING CALENDAR YEAR.): RIAD Bil | Mil | Thou
a. Interest rate exposures 8757 (1,072) M.8.a
b. Foreign exchange exposures 8758 0 M.8.b
c. Equity security and index exposures 8759 0 M.8.c
d. Commodity and other exposures 8760 0 M.8.d
9. Impact on income of derivatives held for purposes other than trading: RIAD Bil | Mil | Thou
a. Net increase (decrease) to interest income 8761 0 M.9.a
b. Net (increase) decrease to interest expense 8762 2,878 M.9.b
c. Other (noninterest) allocations 8763 0 M.9.c
10. Credit losses on derivatives (see instructions) A251 0 M.10
11. Does the reporting bank have a Subchapter S election in effect for YES / NO
federal income tax purposes for the current tax year ? A530 NO M.11
</Table>
- ----------
(1) For example, a bank acquired on June 1, 2001, would report 20010601
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-4
Legal Title of Bank
FDIC Certificate Number - 05208 6
SCHEDULE RI-A--CHANGES IN EQUITY CAPITAL
Indicate decreases and losses in parentheses.
<Table>
<Caption>
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Total equity capital most recently reported for the December 31, 2001, Reports
of Condition and Income (i.e., after adjustments from amended Reports of Income) 3217 3,191,226 1
2. Restatements due to corrections of material accounting errors and changes in
accounting principles* B507 0 2
3. Balance end of previous calendar year as restated (sum of items 1 and 2) B508 3,191,226 3
4. Net income (loss) (must equal Schedule RI, item 12) 4340 943,505 4
5. Sale, conversion, acquisition, or retirement of capital stock, net (excluding treasury
stock transactions) B509 0 5
6. Treasury stock transactions, net B510 0 6
7. Changes incident to business combinations, net 4356 420,978 7
8. LESS: Cash dividends declared on preferred stock 4470 0 8
9. LESS: Cash dividends declared on common stock 4460 500,000 9
10. Other comprehensive income (1) B511 23,984 10
11. Other transactions with parent holding company * (not included in items 5, 6, 8, or 9 above) 4415 0 11
12. Total equity capital end of current period (sum of items 3 through 11) (must equal
Schedule RC, item 28) 3210 4,079,693 12
</Table>
- ----------
* Describe on Schedule RI-E -- Explanations.
(1) Includes changes in net unrealized holding gains (losses) on
available-for-sale securities, changes in accumulated net gains (losses) on
cash flow hedges, foreign currency translation adjustments, and changes in
minimum pension liability adjustments.
SCHEDULE RI-B--CHARGE-OFFS AND RECOVERIES ON LOANS AND LEASES
AND CHANGES IN ALLOWANCE FOR LOAN AND LEASE LOSSES
PART I. CHARGE-OFFS AND RECOVERIES ON LOANS AND LEASES
<Table>
<Caption>
( Column A ) ( Column B )
PART I EXCLUDES CHARGE-OFFS AND RECOVERIES THROUGH Charge-offs (1) Recoveries
THE ALLOCATED TRANSFER RISK RESERVE. Calendar year-to-date
-------------------------------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou | RIAD Bil | Mil | Thou 1.
- ---------------------------------------------------------------------------------------------------------------------------
1. Loans secured by real estate:
a. Construction, land development, and other land loans in domestic
offices 3582 150 3583 24 1.a
b. Secured by farmland in domestic offices 3584 105 3585 281 1.b
c. Secured by 1-4 family residential properties in domestic offices:
(1) Revolving, open-end loans secured by 1-4 family residential
properties and extended under lines of credit 5411 622 5412 302 1.c.1
(2) Closed-end loans secured by 1-4 family residential properties:
(a) SECURED BY FIRST LIENS C234 1,908 C217 253 1.c.2.a
(b) SECURED BY JUNIOR LIENS C235 167 C218 506 1.c.2.b
d. Secured by multifamily (5 or more) residential properties in domestic
offices 3588 0 3589 0 1.d
e. Secured by nonfarm nonresidential properties in domestic offices 3590 4,956 3591 271 1.e
f. In foreign offices B512 0 B513 0 1.f
2. Loans to depository institutions and acceptances of other banks:
a. To U.S. banks and other U.S. depository institutions 4653 0 4663 0 2.a
b. To foreign banks 4654 0 4664 0 2.b
3. Loans to finance agricultural production and other loans to farmers 4655 548 4665 739 3
4. Commercial and industrial loans:
a. To U.S. addressees (domicile) 4645 66,890 4617 12,553 4.a
b. To non-U.S. addressees (domicile) 4646 0 4618 0 4.b
</Table>
- ----------
(1) Include write-downs arising from transfers of loans to a held-for-sale
account.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-5
Legal Title of Bank
FDIC Certificate Number - 05208 7
SCHEDULE RI-B--CONTINUED
<Table>
<Caption>
( Column A ) ( Column B )
PART I. CONTINUED Charge-offs (1) Recoveries
--------------------------------------------
Calendar year-to-date
--------------------------------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou RIAD Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
5. Loans to individuals for household, family, and other personal
expenditures:
a. Credit cards B514 19,536 B515 1,108 5.a
b. Other (includes single payment, installment, all student loans
and revolving credit plans other than credit cards) B516 17,806 B517 7,827 5.b
6. Loans to foreign governments and official institutions 4643 0 4627 0 6
7. All other loans 4644 283 4628 38 7
8. Lease financing receivables:
a. To U.S. addressees (domicile) 4658 2,275 4668 250 8.a
b. To non-U.S. addressees (domicile) 4659 0 4669 0 8.b
9. Total (sum of items 1 through 8) 4635 115,246 4605 24,152 9
</Table>
<Table>
( Column A ) ( Column B )
Memoranda Charge-offs (1) Recoveries
---------------------------------------------
Calendar year-to-date
---------------------------------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou RIAD Bil | Mil | Thou
- -----------------------------------------------------------------------------------------------------------------------------
1. Loans to finance commercial real estate, construction, and land
development activities (not secured by real estate) included in
Schedule RI-B, part I, items 4 and 7, above 5409 0 5410 0 M.1
2. Loans secured by real estate to non-U.S. addresses (domicile)
(included in Schedule RI-B, part I, item 1, above): 4652 0 4662 0 M.2
</Table>
- ----------
(1) Include write-downs arising from transfers of loans to a held-for-sale
account.
PART II. CHANGES IN ALLOWANCE FOR LOAN AND LEASE LOSSES
<Table>
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- -------------------------------------------------------------------------------------------------------------------------------
1. Balance most recently reported for the December 31, 2001, Reports of Condition
and Income (i.e., after adjustments from amended Reports of Income) B522 281,751 1
2. Recoveries (must equal part I, item 9, column B above) 4605 24,152 2
3. LESS: CHARGE-OFFS (MUST EQUAL PART I, ITEM 9, COLUMN A ABOVE
LESS SCHEDULE RI-B, PART II, ITEM 4) C079 115,246 3
4. LESS: WRITE-DOWNS ARISING FROM TRANSFERS OF LOANS TO A HELD-FOR-SALE ACCOUNT 5523 0 4
5. Provision for loan and lease losses (must equal Schedule RI, item 4) 4230 94,753 5
6. ADJUSTMENTS * (SEE INSTRUCTIONS FOR THIS SCHEDULE) C233 (1,147) 6
7. Balance end of current period (sum of items 1, 2, 5, and 6, less items 3 and 4)
(must equal Schedule RC, item 4.c) 3123 284,263 7
</Table>
- ----------
* Describe on Schedule RI-E-Explanations.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RI-6
Legal Title of Bank
FDIC Certificate Number - 05208 8
SCHEDULE RI-D--INCOME FROM INTERNATIONAL OPERATIONS
FOR ALL BANKS WITH FOREIGN OFFICES, EDGE OR AGREEMENT SUBSIDIARIES, OR IBFS
WHERE INTERNATIONAL OPERATIONS ACCOUNT FOR MORE THAN 10 PERCENT OF TOTAL
REVENUES, TOTAL ASSETS, OR NET INCOME.
<Table>
Year-to-Date
---------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ---------------------------------------------------------------------------------------------------------------------------------
1. Interest income and expense attributable to international operations:
a. Gross interest income B523 N/A 1.a
b. Gross interest expense B524 N/A 1.b
2. Net interest income attributable to international operations (item 1.a minus 1.b) B525 N/A 2.
3. Noninterest income and expense attributable to international operations:
a. Noninterest income attributable to international operations 4097 N/A 3.a
b. Provision for loan and lease losses attributable to international operations 4235 N/A 3.b
c. Other noninterest expense attributable to international operations 4239 N/A 3.c
d. Net noninterest income (expense) attributable to international operations (item 3.a minus
3.b and 3.c) 4843 N/A 3.d
4. Estimated pretax income attributable to international operations before capital allocation
adjustment (sum of items 2 and 3.d) 4844 N/A 4
5. Adjustment to pretax income for internal allocations to international operations to reflect
the effects of equity capital on overall bank funding costs 4845 N/A 5
6. Estimated pretax income attributable to international operations after capital allocation
adjustment (sum of items 4 and 5) 4846 N/A 6
7. Income taxes attributable to income from international operations as estimated in item 6 4797 N/A 7
8. Estimated net income attributable to international operations (item 6 minus 7) 4341 N/A 8
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
Legal Title of Bank RI-7
- -------------------------------------------
FDIC Certificate Number - 05208 9
SCHEDULE RI-E--EXPLANATIONS
SCHEDULE RI-E IS TO BE COMPLETED EACH QUARTER ON A CALENDAR YEAR-TO-DATE BASIS.
Detail all adjustments in Schedules RI-A and RI-B, all extraordinary items and
other adjustments in Schedule RI, and all significant items of other noninterest
income and other noninterest expense in Schedule RI. (See instructions for
details.)
<Table>
Year-to-Date
---------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------
1. Other noninterest income (from Schedule RI, item 5.l)
Itemize and describe amounts that exceed 1% of the sum of Schedule RI,
items 1.h and 5.m:
TEXT
a. Income and fees from the printing and sale of checks C013 0 1.a
b. Earnings on/increase in value of cash surrender value of life insurance C014 0 1.b
c. Income and fees from automated teller machines (ATMs) C016 0 1.c
d. Rent and other income from other real estate owned 4042 0 1.d
e. Safe deposit box rent C015 0 1.e
f. 4461 Intercompany allocations 4461 274,457 1.f
g. 4462 Credit card fees 4462 62,052 1.g
h. 4463 Loan origination fees 4463 40,003 1.h
2. Other noninterest expense (from Schedule RI, item 7.d):
Itemize and describe amounts that exceed 1% of the sum of of Schedule RI, items
1.h and 5.m:
TEXT
a. Data processing expenses C017 44,129 2.a
b. Advertising and marketing expenses 0497 0 2.b
c. Director's fees 4136 0 2.c
d. Printing, stationery, and supplies C018 0 2.d
e. Postage 8403 0 2.e
f. Legal fees and expenses 4141 0 2.f
g. FDIC deposit insurance assessments 4146 0 2.g
h. 4464 Intercompany allocations 4464 476,014 2.h
I. 4467 Other fees & service charges 4467 89,364 2.i
j. 4468 4468 N/A 2.j
3. Extraordinary items and other adjustments and applicable income tax effect
(from Schedule RI, item 11) (itemize and describe all extraordinary items
and other adjustments):
TEXT
a. (1) Effect of adopting FAS 142, "Goodwill and Other Intangible
Assets"" C231 0 3.a.1
(2) Applicable income tax effect 4486 0 3.a.2
b. (1) 4487 4487 N/A 3.b.1
(2) Applicable income tax effect 4488 0 3.b.2
c. (1) 4489 4489 N/A 3.c.1
(2) Applicable income tax effect 4491 0 3.c.2
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
Legal Title of Bank RI-8
- -------------------------------------------
FDIC Certificate Number - 05208 10
SCHEDULE RI-E--CONTINUED
<Table>
<Caption>
Year-to-Date
---------------------
Dollar Amounts in Thousands RIAD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------
4. Restatements due to corrections of material accounting errors and
changes in accounting principles
(from Schedule RI-A, item 2) (itemize and describe all restatements):
TEXT
a. B526 B526 N/A 4.a
b. B527 B527 N/A 4.b
5. Other transactions with parent holding company (from Schedule RI-A, item 11)
(itemize and describe all such transactions):
TEXT
a. 4498 4498 N/A 5.a
b. 4499 4499 N/A 5.b
6. Adjustments to allowance for loan and lease losses
(from Schedule RI-B, part II, item 6) (itemize and describe all adjustments):
TEXT
a. 4521 Paydown of securitizations w/ affiliates 4521 (25,354) 6.a
b. 4522 Marquette merger 4522 28,336 6.b
7. Other explanations (the space below is provided for the bank to briefly describe,
at its option, any other significant items affecting the Report of Income):
X = NO COMMENT - Y = COMMENT RIAD
Other explanations (please type or print clearly): 4769
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-1
Legal Title of Bank
11
MINNEAPOLIS
City
MN 55479
State Zip Code
FDIC Certificate Number - 05208
CONSOLIDATED REPORT OF CONDITION FOR INSURED COMMERCIAL AND STATE-CHARTERED
SAVINGS BANKS FOR DECEMBER 31, 2002
All schedules are to be reported in thousands of dollars. Unless otherwise
indicated report the amount outstanding as of the last business day of the
quarter.
SCHEDULE RC--BALANCE SHEET
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
ASSETS
1. Cash and balances due from depository institutions (from Schedule RC-A):
a. Noninterest-bearing balances and currency and coin(1) 0081 1,820,590 1.a
b. Interest-bearing balances(2) 0071 63,877 1.b
2. Securities:
a. Held-to-maturity securities (from Schedule RC-B, column A) 1754 0 2.a
b. Available-for-sale securities (from Schedule RC-B, column D) 1773 1,613,776 2.b
3. Federal funds sold and securities purchased under agreements to resell: RCON
a. FEDERAL FUNDS SOLD IN DOMESTIC OFFICES B987 8,118,713 3.a
RCFD
b. SECURITIES PURCHASED UNDER AGREEMENTS TO RESELL(3) B989 159,512 3.b
4. Loans and lease financing receivables (from Schedule RC-C):
a. Loans and leases held for sale 5369 21,079,237 4.a
b. Loans and leases, net of unearned income B528 18,011,762 4.b
c. LESS: Allowance for loan and lease losses 3123 284,263 4.c
d. Loans and leases, net of unearned income and allowance (item 4.b minus 4.c) B529 17,727,499 4.d
5. Trading assets (from Schedule RC-D) 3545 367,486 5
6. Premises and fixed assets (including capitalized leases) 2145 157,682 6
7. Other real estate owned (from Schedule RC-M) 2150 7,328 7
8. Investments in unconsolidated subsidiaries and associated companies (from Schedule RC-M) 2130 0 8
9. Customers' liability to this bank on acceptances outstanding 2155 23,492 9
10. Intangible assets:
a. Goodwill 3163 341,605 10.a
b. Other intangible assets (from Schedule RC-M) 0426 7,596 10.b
11. Other assets (from Schedule RC-F) 2160 1,354,807 11
12. Total assets (sum of items 1 through 11) 2170 52,843,200 12
</Table>
- ----------
(1) Includes cash items in process of collection and unposted debits.
(2) Includes time certificates of deposit not held for trading.
(3) INCLUDES ALL SECURITIES RESALE AGREEMENTS IN DOMESTIC AND FOREIGN OFFICES,
REGARDLESS OF MATURITY.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-2
Legal Title of Bank
12
FDIC Certificate Number - 05208
SCHEDULE RC--CONTINUED
<Table>
<Caption>
Dollar Amounts in Thousands Bil | Mil | Thou
- ---------------------------------------------------------------------------------------------------------------------------
LIABILITIES
13. Deposits:
a. In domestic offices (sum of totals of columns A and C from Schedule RC-E, RCON
part I) 2200 32,863,493 13.a
(1) Noninterest-bearing(1) 6631 20,656,572 13.a.1
(2) Interest-bearing 6636 12,206,921 13.a.2
b. In foreign offices, Edge and Agreement subsidiaries, and IBFs RCFN
(from Schedule RC-E, part II) 2200 5,802,375 13.b
(1) Noninterest-bearing 6631 10,504 13.b.1
(2) Interest-bearing 6636 5,791,871 13.b.2
14. Federal funds purchased and securities sold under agreements to repurchase: RCON
a. FEDERAL FUNDS PURCHASED IN DOMESTIC OFFICES(2) B993 1,685,713 14.a
RCFD
b. SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE(3) B995 459,274 14.b
15. Trading liabilities (from Schedule RC-D) 3548 45,836 15
16. Other borrowed money (includes mortgage indebtedness and obligations
under capitalized leases) (from Schedule RC-M) 3190 7,081,695 16
17. Not applicable
18. Bank's liability on acceptances executed and outstanding 2920 23,492 18
19. Subordinated notes and debentures(4) 3200 0 19
20. Other liabilities (from Schedule RC-G) 2930 801,629 20
21. Total liabilities (sum of items 13 through 20) 2948 48,763,507 21
22. Minority interest in consolidated subsidiaries 3000 0 22
EQUITY CAPITAL
23. Perpetual preferred stock and related surplus 3838 0 23
24. Common stock 3230 100,000 24
25. Surplus (exclude all surplus related to preferred stock) 3839 2,133,596 25
26. a. Retained earnings 3632 1,793,289 26.a
b. Accumulated other comprehensive income(5) B530 52,808 26.b
27. Other equity capital components(6) A130 0 27
28. Total equity capital (sum of items 23 through 27) 3210 4,079,693 28
29. Total liabilities, minority interest, and equity capital (sum of items 21, 22, and 28) 3300 52,843,200 29
Memorandum
TO BE REPORTED ONLY WITH THE MARCH REPORT OF CONDITION.
1. Indicate in the box at the right the number of the statement below that best describes the
most comprehensive level of auditing work performed for the bank by independent external RCFD NUMBER
auditors as of any date during 2001 6724 N/A M. 1
</Table>
1 = Independent audit of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm which
submits a report on the bank
2 = Independent audit of the bank's parent holding company conducted in
accordance with generally accepted auditing standards by a certified public
accounting firm which submits a report on the consolidated holding company
(but not on the bank separately)
3 = Attestation on bank management's assertion on the effectiveness of the
bank's internal control over financial reporting by a certified public
accounting firm
4 = Directors' examination of the bank conducted in accordance with generally
accepted auditing standards by a certified public accounting firm (may be
required by state chartering authority)
5 = Directors' examination of the bank performed by other external auditors
(may be required by state chartering authority)
6 = Review of the bank's financial statements by external auditors
7 = Compilation of the bank's financial statements by external auditors
8 = Other audit procedures (excluding tax preparation work)
9 = No external audit work
- ----------
(1) Includes total demand deposits and noninterest-bearing time and savings
deposits.
(2) REPORT OVERNIGHT FEDERAL HOME LOAN BANK ADVANCES IN SCHEDULE RC, ITEM 16,
"OTHER BORROWED MONEY."
(3) INCLUDES ALL SECURITIES REPURCHASE AGREEMENTS IN DOMESTIC AND FOREIGN
OFFICES, REGARDLESS OF MATURITY.
(4) Includes limited-life preferred stock and related surplus.
(5) Includes net unrealized holding gains (losses) on available-for-sale
securities, accumulated net gains (losses) on cash flow hedges, cumulative
foreign currency translation adjustments, and minimum pension liability
adjustments.
(6) Includes treasury stock and unearned Employee Stock Ownership Plan shares.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-3
Legal Title of Bank
13
FDIC Certificate Number - 05208
SCHEDULE RC-A--CASH AND BALANCES DUE FROM DEPOSITORY INSTITUTIONS
Exclude assets held for trading.
<Table>
(Column A) (Column B)
Consolidated Domestic
Dollar Amounts in Thousands Bank Offices
- ------------------------------------------------------------------------------------------------------------------------------
RCFD Bil | Mil | Thou RCON Bil | Mil | Thou
-------------------------------------------
1. Cash items in process of collection, unposted debits, and currency and
coin 0022 1,616,545 1
a. Cash items in process of collection and unposted debits 0020 1,433,842 1.a
b. Currency and coin 0080 182,703 1.b
2. Balance due from depository institutions in the U.S. 0082 185,144 2
a. U.S. branches and agencies of foreign banks (including their IBFs) 0083 0 2.a
b. Other commercial banks in the U.S. and other depository institutions
in the U.S. (including their IBFs) 0085 185,300 2.b
3. Balances due from banks in foreign countries and foreign central banks 0070 11,842 3
a. Foreign branches of other U.S. banks 0073 11,622 3.a
b. Other banks in foreign countries and foreign central banks 0074 220 3.b
4. Balances due from Federal Reserve Banks 0090 70,780 0090 70,698 4
5. Total (sum of items 1 through 4) (total of column A must equal
Schedule RC, sum of items 1.a and 1.b) 0010 1,884,467 0010 1,884,229 5
</Table>
SCHEDULE RC-B--SECURITIES
Exclude assets held for trading.
<Table>
<Caption>
Held-to-maturity
-----------------------------------------------
(Column A) (Column B)
Amortized Cost Fair Value
-----------------------------------------------
Dollar Amounts in Thousands RCFD Bil | Mil | Thou RCFD Bil | Mil | Thou
- -----------------------------------------------------------------------------------------------
1. U.S. Treasury securities 0211 0 0213 0
2. U.S. Government agency obligations
(exclude mortgage-backed securities):
a. Issued by U.S. Government agencies (1) 1289 0 1290 0
b. Issued by U.S. Government-sponsored
agencies(2) 1294 0 1295 0
3. Securities issued by states and
political subdivisions in the U.S. 8496 0 8497 0
<Caption>
Available-for-sale
-----------------------------------------------
(Column C) (Column D)
Amortized Cost Fair Value
-----------------------------------------------
Dollar Amounts in Thousands RCFD Bil | Mil | Thou RCFD Bil | Mil | Thou
- -----------------------------------------------------------------------------------------------
1. U.S. Treasury securities 1286 183,519 1287 197,889 1
2. U.S. Government agency obligations
(exclude mortgage-backed securities):
a. Issued by U.S. Government agencies(1) 1291 6 1293 6 2.a
b. Issued by U.S. Government-sponsored
agencies (2) 1297 132,570 1298 137,863 2.b
3. Securities issued by states and
political subdivisions in the U.S. 8498 300,444 8499 321,839 3
</Table>
- ----------
(1) Includes Small Business Administration 'Guaranteed Loan Pool Certificates,'
U.S. Maritime Administration obligations, and Export - Import Bank
participation certificates.
(2) Includes obligations (other than mortgage-backed securities) issued by the
Farm Credit System, the Federal Home Loan Bank System, The Federal Home Loan
Mortgage Corporation, the Federal National Mortgage Association, the
Financing Corporation, Resolution Funding Corporation, the Student Loan
Marketing Association, and the Tennessee Valley Authority.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-4
Legal Title of Bank
FDIC Certificate Number - 05208 14
SCHEDULE RC-B--CONTINUED
<Table>
<Caption>
Held-to-maturity
-------------------------------------------------
(Column A) (Column B)
Dollar Amounts in Thousands Amortized Cost Fair Value
- ---------------------------------------------------------------------------------------------------
RCFD Bil | Mil | Thou RCFD Bil | Mil | Thou
-------------------------------------------------
4. Mortgage-backed securities (MBS):
a. Pass-through securities:
(1) Guaranteed by GNMA 1698 0 1699 0
(2) Issued by FNMA and FHLMC 1703 0 1705 0
(3) Other pass-through securities 1709 0 1710 0
b. Other mortgage-backed securities (include
CMOs, REMICs and stripped MBS):
(1) Issued or guaranteed by FNMA,
FHLMC, or GNMA 1714 0 1715 0
(2) Collateralized by MBS issued or
guaranteed by FNMA, FHLMC, or GNMA 1718 0 1719 0
(3) All other mortgage-backed securities 1733 0 1734 0
5. Asset-backed securities (ABS):
a. Credit card receivables B838 0 B839 0
b. Home equity lines B842 0 B843 0
c. Automobile loans B846 0 B847 0
d. Other consumer loans B850 0 B851 0
e. Commercial and industrial loans B854 0 B855 0
f. Other B858 0 B859 0
6. Other debt securities:
a. Other domestic debt securities 1737 0 1738 0
b. Foreign debt securities 1742 0 1743 0
7. Investments in mutual funds and
other equity securities with
readily determinable fair values(1)
8. Total (sum of items 1 through 7) (total of
Column A must equal Schedule RC item 2.a)
(total of column D must equal Schedule RC,
item 2.b) 1754 0 1771 0
<Caption>
Available-for-sale
--------------------------------------------------
(Column C) (Column D)
Dollar Amounts in Thousands Amortized Cost Fair Value
- ---------------------------------------------------------------------------------------------------
RCFD Bil | Mil | Thou RCFD Bil | Mil | Thou
--------------------------------------------------
4. Mortgage-backed securities (MBS):
a. Pass-through securities:
(1) Guaranteed by GNMA 1701 231,831 1702 247,285 4.a.1
(2) Issued by FNMA and FHLMC 1706 384,871 1707 413,362 4.a.2
(3) Other pass-through securities 1711 0 1713 0 4.a.3
b. Other mortgage-backed securities (include
CMOs, REMICs and stripped MBS):
(1) Issued or guaranteed by FNMA,
FHLMC, or GNMA 1716 4,600 1717 4,629 4.b.1
(2) Collateralized by MBS issued or
guaranteed by FNMA, FHLMC, or GNMA 1731 3 1732 4 4.b.2
(3) All other mortgage-backed securities 1735 8,580 1736 8,650 4.b.3
5. Asset-backed securities (ABS):
a. Credit card receivables B840 0 B841 0 5.a
b. Home equity lines B844 0 B845 0 5.b
c. Automobile loans B848 0 B849 0 5.c
d. Other consumer loans B852 406 B853 409 5.d
e. Commercial and industrial loans B856 2,547 B857 2,354 5.e
f. Other B860 0 B861 0 5.f
6. Other debt securities:
a. Other domestic debt securities 1739 110,773 1741 107,384 6.a
b. Foreign debt securities 1744 47,319 1746 51,773 6.b
7. Investments in mutual funds and
other equity securities with
readily determinable fair values(1) A510 119,617 A511 120,329 7
8. Total (sum of items 1 through 7) (total of
Column A must equal Schedule RC item 2.a)
(total of column D must equal Schedule RC,
item 2.b) 1772 1,527,086 1773 1,613,776 8
</Table>
- ----------
(1) Report Federal Reserve stock, Federal Home Loan Bank stock, and banker's
bank stock in Schedule RC-F, item 4.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-5
Legal Title of Bank
FDIC Certificate Number - 05208 15
SCHEDULE RC-B--CONTINUED
<Table>
<Caption>
MEMORANDA Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- --------------------------------------------------------------------------------------------------------------------------
1. Pledged securities(1) 0416 260,266 M.1
2. Maturity and repricing data for debt securities (1, 2) (excluding those in nonaccrual status):
a. Securities issued by the U.S. Treasury, U.S. Government agencies, and states
and political subdivisions in the U.S.; other non-mortgage debt securities; and
mortgage pass-through securities other than those backed by closed-end
first lien 1-4 family residential mortgages with a remaining maturity or next repricing
date of: (3,4)
(1) Three months or less A549 165,915 M.2.a.1
(2) Over three months through 12 months A550 72,374 M.2.a.2
(3) Over one year through three years A551 74,600 M.2.a.3
(4) Over three years through five years A552 134,421 M.2.a.4
(5) Over five years through 15 years A553 252,551 M.2.a.5
(6) Over 15 years A554 119,656 M.2.a.6
b. Mortgage pass-through securities backed by closed-end first lien 1-4 family
residential mortgages with a remaining maturity or next repricing date of: (3,5)
(1) Three months or less A555 3,872 M.2.b.1
(2) Over three months through 12 months A556 6,437 M.2.b.2
(3) Over one year through three years A557 742 M.2.b.3
(4) Over three years through five years A558 1,331 M.2.b.4
(5) Over five years through 15 years A559 38,211 M.2.b.5
(6) Over 15 years A560 610,054 M.2.b.6
c. Other mortgage-backed securities (include CMOs, REMICs, and stripped MBS;
exclude mortgage pass-through securities) with an expected average life of: (6)
(1) Three years or less A561 7,217 M.2.c.1
(2) Over three years A562 6,066 M.2.c.2
d. Debt securities with a REMAINING MATURITY of one
year or less (included in Memorandum items 2.a through 2.c above) A248 166,083 M.2.d
3. Amortized cost of held-to-maturity securities sold or transferred to available-for-sale or
trading securities during the calendar year-to-date (report the amortized cost at date
of sale or transfer) 1778 0 M.3
4. Structured notes (included in the held-to-maturity and available-for-sale accounts in
Schedule RC-B, items 2, 3, 5, and 6):
a. Amortized cost 8782 0 M.4.a
b. Fair value 8783 0 M.4.b
</Table>
- ----------
(1) Includes held-to-maturity securities at amortized cost and
available-for-sale securities at fair value.
(2) Exclude investments in mutual funds and other equity securities with readily
determinable fair values.
(3) Report fixed rate debt securities by remaining maturity and floating rate
debt securities by next repricing date.
(4) Sum of Memorandum items 2.a.(1) through 2.a.(6) plus any nonaccrual debt
securities in the categories of debt securities reported in Memorandum item
2.a that are included in Schedule RC-N, item 9, column C, must equal
Schedule RC-B, sum of items 1, 2, 3, 5, and 6, columns A and D, plus
mortgage pass-through securities other than those backed by closed-end first
lien 1-4 family residential mortgages included in Schedule RC-B, item 4.a,
columns A and D.
(5) Sum of Memorandum items 2.b.(1) through 2.b.(6) plus any nonaccrual mortgage
pass-through securities backed by closed-end first lien 1-4 family
residential mortgages included in Schedule RC-N, item 9, column C, must
equal Schedule RC-B, item 4.a, sum of columns A and D, less the amount of
mortgage pass-through securities other than those backed by closed-end first
lien 1-4 family residential mortgages included in Schedule RC-B, item 4.a,
columns A and D.
(6) Sum of Memorandum items 2.c.(1) and 2.c.(2) plus any nonaccrual "Other
mortgage-backed securities" included in Schedule RC-N, item 9, column C,
must equal Schedule RC-B, item 4.b, sum of columns A and D.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-6
Legal Title of Bank
FDIC Certificate Number - 05208 16
SCHEDULE RC-C--LOANS AND LEASE FINANCING RECEIVABLES
PART I. LOANS AND LEASES
Do not deduct the allowance for loan and lease losses from amounts reported in
this schedule. Report (1) loans and leases held for sale at the lower of cost or
market value and (2) other loans and leases, net of unearned income.
REPORT LOANS AND LEASES NET OF ANY APPLICABLE ALLOCATED TRANSFER RISK RESERVE.
Exclude assets held for trading and commercial paper.
<Table>
<Caption>
(Column A) (Column B)
Consolidated Domestic
Bank Offices
---------------------------------------------
Dollar Amounts in Thousands RCFD Bil | Mil | Thou RCON Bil | Mil | Thou
- ---------------------------------------------------------------------------------------------------------------------------
1. Loans secured by real estate 1410 26,873,038 1
a. Construction, land development, and other land loans 1415 212,279 1.a
b. Secured by farmland (including farm residential and other
improvements) 1420 78,883 1.b
c. Secured by 1-4 family residential properties:
(1) Revolving, open-end loans secured by 1-4 family residential
properties and extended under lines of credit 1797 981,424 1.c.1
(2) Closed-end loans secured by 1-4 family residential properties:
(a) Secured by first liens 5367 23,702,527 1.c.2.a
(b) Secured by junior liens 5368 1,078,833 1.c.2.b
d. Secured by multifamily (5 or more) residential properties 1460 55,776 1.d
e. Secured by nonfarm nonresidential properties 1480 763,316 1.e
2. Loans to depository institutions and acceptances of other banks:
a. To commercial banks in the U.S. B531 2,763,148 2.a
(1) To U.S. branches and agencies of foreign banks B532 0 2.a.1
(2) To other commercial banks in the U.S. B533 2,763,383 2.a.2
b. To other depository institutions in the U.S. B534 0 B534 0 2.b
c. To banks in foreign countries B535 235 2.c
(1) To foreign branches of other U.S. banks B536 0 2.c.1
(2) To other banks in foreign countries B537 238 2.c.2
3. Loans to finance agricultural production and other loans to farmers 1590 185,921 1590 185,921 3
4. Commercial and industrial loans:
a. To U.S. addressees (domicile) 1763 4,947,382 1763 4,947,382 4.a
b. To non-U.S. addressees (domicile) 1764 1,151 1764 0 4.b
5. Not applicable
6. Loans to individuals for household, family, and other personal
expenditures (i.e., consumer loans) (includes purchased paper):
a. Credit cards B538 384 B538 384 6.a
b. Other revolving credit plans B539 116,449 B539 116,449 6.b
c. Other consumer loans (includes single payment, installment, and
and all student loans 2011 815,867 2011 815,867 6.c
7. Loans to foreign government and official institutions (including
foreign central banks) 2081 0 2081 0 7
8. Obligations (other than securities and leases) of states and political
subdivisions in the U.S. 2107 28,443 2107 28,443 8
9. Other loans 1563 389,515 9
a. Loans for purchasing or carrying securities (secured and unsecured) 1545 138,513 9.a
b. All other loans (exclude consumer loans) 1564 251,002 9.b
10. Lease financing receivables (net of unearned income) 2165 2,969,228 10
a. Of U.S. addressees (domicile) 2182 2,969,228 10.a
b. Of non-U.S. addressees (domicile) 2183 0 10.b
11. LESS: Any unearned income on loans reflected in items 1-9 above 2123 0 2123 0 11
12. Total loans and leases, net of unearned income (sum of items 1
through 10 minus item 11) (total of column A must equal
Schedule RC, item 4.a and 4.b) 2122 39,090,999 2122 39,089,610 12
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-7
Legal Title of Bank
FDIC Certificate Number - 05208 17
SCHEDULE RC-C--CONTINUED
PART I. CONTINUED
<Table>
<Caption>
Memoranda Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ---------------------------------------------------------------------------------------------------------------------------
1. Loans and Leases restructured and in compliance with modified terms
(included in Schedule RC-C, part I, and not reported as past due or
nonaccrual in Schedule RC-N, Memorandum item 1) (exclude loans secured
by 1-4 family residential properties and loans to individuals for
household, family, and other personal expenditures) 1616 0 M.1
2. Maturity and repricing data for loans and leases (excluding those in nonaccrual status):
a. Closed-end loans secured by first liens on 1-4 family residential properties in domestic
offices (reported in Schedule RC-C, part I, item 1.c.(2)(a), column B)
with a remaining maturity or next repricing date of: (1, 2) RCON
(1) Three months or less A564 20,804,158 M.2.a.1
(2) Over three months through 12 months A565 560,630 M.2.a.2
(3) Over one year through three years A566 35,357 M.2.a.3
(4) Over three years through five years A567 89,077 M.2.a.4
(5) Over five years through 15 years A568 1,638,299 M.2.a.5
(6) Over 15 years A569 555,531 M.2.a.6
b. All loans and leases (reported in Schedule RC-C, part I, items 1 through 10, column A)
EXCLUDING closed-end loans secured by first liens on 1-4 family residential properties
in domestic offices (reported in Schedule RC-C, part I item 1.c.(2)(a), column B) with a
remaining maturity or next repricing date of: (1,3) RCFD
(1) Three months or less A570 8,038,125 M.2.b.1
(2) Over three months through 12 months A571 1,160,695 M.2.b.2
(3) Over one year through three years A572 1,786,723 M.2.b.3
(4) Over three years through five years A573 1,488,936 M.2.b.4
(5) Over five years through 15 years A574 1,762,590 M.2.b.5
(6) Over 15 years A575 967,431 M.2.b.6
c. Loans and leases (reported in Schedule RC-C, part I, items 1 through 10, column A)
with a REMAINING MATURITY of one year or less (excluding those in nonaccrual status) A247 25,129,741 M.2.c
3. Loans to finance commercial real estate, construction, and
land development activities (not secured by real estate)
included in Schedule RC-C, part I, items 4 and 9, column A (4) 2746 176,599 M.3
4. Adjustable rate closed-end loans secured by first liens on
1-4 family residential properties in domestic offices RCON
(included in Schedule RC-C, part I, item 1.c.(2)(a), column B) 5370 7,670,359 M.4
5. Loans secured by real estate to non-U.S. addresses (domicile) (included in RCFD
Schedule RC-C, part I, item 1, column A) B837 0 M.5
</Table>
- ----------
(1) Report fixed rate loans and leases by remaining maturity and floating rate
loans by next repricing date.
(2) Sum of Memorandum items 2.a.(1) through 2.a.(6) plus total nonaccrual
closed-end loans secured by first liens on 1-4 family residential properties
in domestic offices included in Schedule RC-N, item 1.c.(2)(a), column C
must equal total closed-end loans secured by first liens on 1-4 family
residential properties from Schedule RC-C, part I, item 1.c.(2)(a),
column B
(3) Sum of Memorandum items 2.b.(1) through 2.b.(6) plus total nonaccrual loans
and leases from Schedule RC-N, sum of items 1 through 8, column C, minus
nonaccrual closed-end loans secured by first liens on 1-4 family residential
properties in domestic offices included in Schedule RC-N, item 1.c.(2)(a),
column C, must equal total loans and leases from Schedule RC-C, Part I, sum
of items 1 through 10, column A, minus total closed-end loans secured by
first liens on 1-4 family residential properties in domestic offices from
Schedule RC-C, part I, item 1.c.(2)(a), column B.
(4) Exclude loans secured by real estate that are included in Schedule RC-C,
part I, item 1, column A.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------------------ RC-8
Legal Title of Bank
FDIC Certificate Number - 05208 18
SCHEDULE RC-D--TRADING ASSETS AND LIABILITIES
SCHEDULE RC-D IS TO BE COMPLETED BY BANKS THAT REPORTED AVERAGE TRADING ASSETS
(SCHEDULE RC-K, ITEM 7) OF $2 MILLION OR MORE FOR ANY QUARTER OF THE PRECEDING
YEAR.
<Table>
<Caption>
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
ASSETS
1. U.S. Treasury securities in domestic offices 3531 0 1
2. U.S. Government agency obligations in domestic offices (exclude mortgage-
backed securities) 3532 0 2
3. Securities issued by states and political subdivisions in the U.S. in domestic offices 3533 0 3
4. Mortgage-backed securities (MBS) in domestic offices:
a. Pass-through securities issued or guaranteed by FNMA, FHLMC, or GNMA 3534 318,572 4.a
b. Other mortgage-backed securities issued or guaranteed by FNMA, FHLMC, or GNMA
(include CMOs, REMICs, and stripped MBS) 3535 0 4.b
c. All other mortgage-backed securities 3536 0 4.c
5. Other debt securities in domestic offices 3537 0 5
6. - 8. Not applicable
9. Other trading assets in domestic offices 3541 0 9
RCFN
10. Trading assets in foreign offices 3542 0 10
11. Revaluation gains on interest rate, foreign exchange rate,
and other commodity and equity contracts: RCON
a. In domestic offices 3543 48,914 11.a
RCFN
b. In foreign offices 3543 0 11.b
RCFD
12. Total trading assets (sum of items 1 through 11) (must equal Schedule RC, item 5) 3545 367,486 12
<Caption>
RCFD Bil | Mil | Thou
----------------------
LIABILITIES
13. Liability for short positions 3546 0 13
14. Revaluation losses on interest rate, foreign exchange rate, and other commodity and equity
contracts 3547 45,836 14
15. Total trading liabilities (sum of items 13 and 14) (must equal Schedule RC, item 15) 3548 45,836 15
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-9
Legal Title of Bank
FDIC Certificate Number - 05208 19
SCHEDULE RC-E--DEPOSIT LIABILITIES
PART I. DEPOSITS IN DOMESTIC OFFICES
<Table>
<Caption>
Nontransaction
Transaction Accounts Accounts
----------------------------------------------------------------------
(Column A) (Column B) (Column C)
Total Memo: Total Total
transaction demand nontransaction
accounts deposits accounts
(including total (included in (including
demand deposits) column A) MMDAs)
----------------------------------------------------------------------
Dollar Amounts in Thousands RCON Bil | Mil | Thou RCON Bil | Mil | Thou RCON Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
Deposits of:
1. Individuals, partnerships and corporations
(include all certified and official checks) B549 2,544,833 B550 29,360,774 1
2. U.S. Government 2202 7,000 2520 1,316 2
3. States and political subdivisions in the U.S. 2203 47,974 2530 452,031 3
4. Commercial banks and other depository
institutions in the U.S. B551 449,565 B552 0 4
5. Banks in foreign countries 2213 0 2236 0 5
6. Foreign governments, and official institutions
(including foreign central banks) 2216 0 2377 0 6
7. Total (sum of items 1 through 6) (sum of
columns A and C must equal Schedule RC,
item 13.a) 2215 3,049,372 2210 2,728,465 2385 29,814,121 7
</Table>
<Table>
<Caption>
Memoranda Dollar Amounts in Thousands RCON Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
1. Selected components of total deposits (i.e., sum of item 7, columns A
and C):
a. Total Individual Retirement Accounts (IRAs) and Keogh Plan accounts 6835 496,658 M.1.a
b. Total brokered deposits 2365 42,472 M.1.b
c. Fully insured brokered deposits (included in Memorandum item 1.b above):
(1) Issued in denominations of less than $100,000 2343 0 M.1.c.1
(2) Issued either in denominations of $100,000 or in denominations greater than
$100,000 and participated out by the broker in shares of $100,000 or less 2344 0 M.1.c.2
d. Maturity data for brokered deposits:
(1) Brokered deposits issued in denominations of less than $100,000 with a remaining
maturity of one year or less (included in Memorandum item 1.c.(1) above) A243 0 M.1.d.1
(2) Brokered deposits issued in denominations of $100,000 or more with a remaining
maturity of one year or less (included in Memorandum item 1.b above) A244 42,472 M.1.d.2
e. Preferred deposits (uninsured deposits of states and political subdivisions in the
U.S. reported in item 3 above which are secured or collaterlized as required under state
law)
(TO BE COMPLETED FOR THE DECEMBER REPORT ONLY) 5590 416,547 M.1.e
2. Components of total nontransaction accounts (sum of Memorandum items 2.a through 2.c
must equal item 7, column C, above):
a. Savings deposits:
(1) Money market deposit accounts (MMDAs) 6810 7,260,270 M.2.a.1
(2) Other savings deposits (excludes MMDAs) 0352 20,621,096 M.2.a.2
b. Total time deposits of less than $100,000 6648 1,613,279 M.2.b
c. Total time deposits of $100,000 or more 2604 319,476 M.2.c
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-10
Legal Title of Bank
FDIC Certificate Number - 05208 20
SCHEDULE RC-E--CONTINUED
Part I. Continued
<Table>
<Caption>
Memoranda (continued) Dollar Amounts in Thousands RCON Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
3. Maturity and repricing data for time deposits of less than $100,000 :
a. Time deposits of less than $100,000 with a remaining maturity or next repricing
date of (1,2)
(1) Three months or less A579 278,563 M.3.a.1
(2) Over three months through 12 months A580 588,662 M.3.a.2
(3) Over one year through three years A581 544,402 M.3.a.3
(4) Over three years A582 201,652 M.3.a.4
b. Time deposits of less than $100,000 with a REMAINING MATURITY
of one year or less (included in Memorandum items 3.a.(1) through 3.a.(4) above)(3) A241 867,225 M.3.b
4. Maturity and repricing data for time deposits of $100,000 or more:
a. Time deposits of $100,000 or more with a remaining maturity or next repricing
date of (1,4)
(1) Three months or less A584 49,794 M.4.a.1
(2) Over three months through 12 months A585 129,533 M.4.a.2
(3) Over one year through three years A586 72,798 M.4.a.3
(4) Over three years A587 67,351 M.4.a.4
b. Time deposits of $100,000 or more with a REMAINING MATURITY
of one year or less (included in Memorandum items 4.a.(1) through 4.a.(4) above)(3) A242 179,327 M.4.b
</Table>
- ----------
(1) Report fixed rate time deposits by remaining maturity and floating rate
time deposits by next repricing date.
(2) Sum of Memorandum items 3.a.(1) through 3.a.(4) must equal Schedule RC-E
Memorandum item 2.b.
(3) Report both fixed and floating rate time deposits by remaining maturity.
Exclude floating rate time deposits with a next repricing date of one year
or less that have a remaining maturity of over one year.
(4) Sum of Memorandum items 4.a.(1) through 4.a.(4) must equal Schedule RC-E,
Memorandum item 2.c.
PART II. DEPOSITS IN FOREIGN OFFICES (INCLUDING EDGE AND AGREEMENT SUBSIDIARIES
AND IBFS)
<Table>
<Caption>
Dollar Amounts in Thousands RCFN Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
Deposits of:
1. Individuals, partnerships, and corporations (include all certified and official checks) B553 230,609 1
2. U.S. banks (including IBFs and foreign branches of U.S. banks) and other U.S.
depository institutions B554 5,482,276 2
3. Foreign banks (including U.S. branches and agencies of foreign banks, including their IBFs) 2625 89,490 3
4. Foreign governments and official institutions (including foreign central banks) 2650 0 4
5. U.S. Government and states and political subdivisions in the U.S. B555 0 5
6. Total (sum of items 1 through 5 ) (must equal Schedule RC, item 13.b) 2200 5,802,375 6
<Caption>
Memorandum Dollar Amounts in Thousands RCFN Bil | Mil | Thou
- ----------------------------------------------------------------------------------------------------------------------------
1. Time deposits with a remaining maturity of one year or less
(included in Part II, item 6 above) A245 5,792,704 M.1
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-11
Legal Title of Bank
FDIC Certificate Number - 05208 21
SCHEDULE RC-F--OTHER ASSETS
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Accrued interest receivable(1) B556 144,866 1
2. Net deferred tax assets(2) 2148 0 2
3. Interest-only strips receivable (not in the form of a security)(3) on:
a. Mortgage loans A519 0 3.a
b. Other financial assets A520 0 3.b
4. Equity securities that DO NOT have readily determinable fair values(4) 1752 487,226 4
5. Other (itemize and describe amounts greater than $25,000 that exceed 25% of
this item) 2168 722,715 5
TEXT
a. Prepaid expenses 2166 0 5.a
b. Cash surrender value of life insurance C009 354,845 5.b
c. Repossessed personal property (including vehicles) 1578 0 5.c
d. Deriviatives with a positive fair value held for purposes other than
trading C010 0 5.d
e. 3549 3549 N/A 5.e
f. 3550 3550 N/A 5.f
g. 3551 3551 N/A 5.g
6. Total (sum of items 1 through 5) (must equal Schedule RC, item 11) 2160 1,354,807 6
</Table>
SCHEDULE RC-G--OTHER LIABILITIES
<Table>
<Caption>
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. a. Interest accrued and unpaid on deposits in domestic offices(5) 3645 24,179 1.a
b. Other expenses accrued and unpaid (includes accrued income taxes RCFD
payable) 3646 147,510 1.b
2. Net deferred tax liabilities (2) 3049 521,051 2
3. Allowance for credit losses on off-balance sheet credit exposures B557 0 3
4. Other (itemize and describe amounts greater than $25,000 that exceed 25% of
this item) 2938 108,889 4
TEXT
a. Accounts payable 3066 71,275 4.a
b. Deferred compensation liabilities C011 0 4.b
c. Dividends declared but not yet payable 2932 0 4.c
d. Derivatives with a negative fair value held for purposes other than trading C012 0 4.d
e. 3552 3552 N/A 4.e
f. 3553 3553 N/A 4.f
g. 3554 3554 N/A 4.g
5. Total (sum of items 1 through 4) (must equal Schedule RC, item 20) 2930 801,629 5
</Table>
- ----------
(1) Include accrued interest receivable on loans, leases, debt securities, and
other interest-bearing assets.
(2) See discussion of deferred income taxes in Glossary entry on "income
taxes."
(3) Report interest-only strips receivable in the form of a security as
available-for sale securities in Schedule RC, item 2.b, or as trading
assets in Schedule RC, item 5, as appropriate.
(4) Include Federal Reserve stock, Federal Home Loan Bank stock, and bankers'
bank stock
(5) For savings banks, includes "dividends" accrued and unpaid on deposits.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-12
Legal Title of Bank
22
FDIC Certificate Number - 05208
SCHEDULE RC-H--SELECTED BALANCE SHEET ITEMS FOR DOMESTIC OFFICES
<Table>
<Caption>
Domestic
Offices
---------------
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Customers' liability to this bank on acceptances outstanding 2155 2,420 1
2. Bank's liability on acceptances executed and outstanding 2920 2,420 2
3. Securities purchased under agreements to resell B989 159,512 3
4. Securities sold under agreements to repurchase B995 459,274 4
5. Other borrowed money 3190 7,081,695 5
EITHER
6. Net due from own foreign offices, Edge and Agreement subsidiaries, and IBFs 2163 N/A 6
OR
7. Net due to own foreign offices, Edge and Agreement subsidiaries, and IBFs 2941 5,726,406 7
8. Total assets (excludes net due from foreign offices, Edge and Agreement
subsidiaries, and IBFs) 2192 52,707,193 8
9. Total liabilities (excludes net due to foreign offices, Edge and
Agreement subsidiaries, and IBFs) 3129 42,901,094 9
<Caption>
IN ITEMS 10-17 REPORT THE AMORTIZED (HISTORICAL) COST OF BOTH
HELD-TO-MATURITY AND AVAILABLE-FOR-SALE SECURITIES IN DOMESTIC OFFICES. RCON Bil | Mil | Thou
10. U.S. Treasury securities 1039 183,519 10
11. U.S. Government agency obligations (exclude mortgage-backed securities) 1041 132,576 11
12. Securities issued by states and political subdivisions in the U.S. 1042 300,444 12
13. Mortgage-backed securities (MBS):
a. Pass-through securities:
(1) Issued or guaranteed by FNMA, FHLMC, or GNMA 1043 616,702 13.a.1
(2) Other pass-through securities 1044 0 13.a.2
b. Other mortgage-backed securities (include CMOs, REMICs, and stripped MBS):
(1) Issued or guaranteed by FNMA, FHLMC, or GNMA 1209 4,600 13.b.1
(2) All other mortgage-backed securities 1280 8,583 13.b.2
14. Other domestic debt securities (include domestic asset-backed securities) 1281 113,726 14
15. Foreign debt securities (include foreign asset-backed securities) 1282 47,319 15
16. Investments in mutual funds and other equity securities with readily
determinable fair values A510 119,617 16
17. Total amortized (historical) cost of both held-to-maturity and
available-for-sale secutities (sum of items 10 through 16) 1374 1,527,086 17
18. Equity securities that do not have readily determinable fair values 1752 487,226 18
</Table>
SCHEDULE RC-I--SELECTED ASSETS AND LIABILITIES OF IBFS
TO BE COMPLETED ONLY BY BANKS WITH IBFS AND OTHER "FOREIGN" OFFICES.
<Table>
<Caption>
Dollar Amounts in Thousands RCFN Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Total IBF assets of the consolidated bank (component of Schedule RC,
item 12) 2133 0 1
2. Total IBF liabilities (component of Schedule RC, item 21) 2898 0 2
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-13
Legal Title of Bank
23
FDIC Certificate Number - 05208
SCHEDULE RC-K--QUARTERLY AVERAGES(1)
<Table>
<Caption>
ASSETS Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Interest-bearing balances due from depository institutions 3381 53,190 1
2. U.S. Treasury securities and U.S. Government agency obligations(2)
(excluding mortgage-backed securities) B558 317,381 2
3. Mortgage-backed securities(2) B559 862,649 3
4. All other securities(2, 3)(includes securities issued by states and
political subdivisions in the U.S.) B560 590,945 4
5. Federal funds sold and securities purchased under agreements to resell 3365 10,591,657 5
6. Loans:
a. Loans in domestic offices: RCON
(1) Total loans 3360 37,200,268 6.a.1
(2) Loans secured by real estate 3385 27,637,357 6.a.2
(3) Loans to finance agricultural production and other loans to
farmers 3386 192,473 6.a.3
(4) Commercial and industrial loans 3387 4,873,399 6.a.4
(5) Loans to individuals for household, family, and other personal
expenditures:
(a) Credit cards B561 187 6.a.5.a
(b) Other (includes single payment, installment, all student
loans, and revolving credit plans other than credit cards) B562 1,133,115 6.a.5.b
RCFN
b. Total loans in foreign offices, Edge and Agreement subsidiaries, and
IBFs 3360 1,507 6.b
RCFD
7. Trading assets 3401 51,120 7
8. Lease financing receivables (net of unearned income) 3484 2,907,647 8
9. Total assets(4) 3368 55,610,248 9
LIABILITIES
10. Interest-bearing transaction accounts in domestic (NOW accounts, ATS accounts, RCON
and telephone and preauthorized transfer accounts) (exclude demand deposits) 3485 310,095 10
11. Nontransaction accounts in domestic offices:
a. Savings deposits (includes MMDAs) B563 29,066,619 11.a
b. Time deposits of $100,000 or more A514 322,212 11.b
c. Time deposits of less than $100,000 A529 1,645,070 11.c
RCFN
12. Interest-bearing deposits in foreign offices, Edge and Agreement
subsidiaries, and IBFs 3404 6,092,613 12
RCFD
13. Federal funds purchased and securities sold under agreements to
repurchase 3353 2,844,693 13
14. Other borrowed money
(includes mortgage indebtedness and obligations under capitalized
leases) 3355 7,835,286 14
</Table>
- ----------
(1) For all items, banks have the option of reporting either (1) an average of
DAILY figures for the quarter, or (2) an average of WEEKLY figures (i.e.,
the Wednesday of each week of the quarter).
(2) Quarterly averages for all debt securities should be based on amortized
cost.
(3) Quarterly averages for all equity securities should be based on historical
cost.
(4) The quarterly averages for total assets should reflect all debt securities
(not held for trading) at amortized cost, equity securities with readily
determinable fair values at the lower of cost or fair value, and equity
securities without readily determinable fair values at historical cost.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-14
Legal Title of Bank
24
FDIC Certificate Number - 05208
SCHEDULE RC-L--DERIVATIVES AND OFF-BALANCE SHEET ITEMS
Please read carefully the instructions for the preparation of Schedule RC-L.
Some of the amounts reported in Schedule RC-L are regarded as volume indicators
and not necessarily as measures of risk.
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Unused commitments:
a. Revolving, open-end lines secured by 1-4 family residential properties,
e.g., home equity lines 3814 1,784,749 1.a
b. Credit card lines 3815 0 1.b
c. Commercial real estate, construction, and land development:
(1) Commitments to fund loans secured by real estate 3816 97,507 1.c.1
(2) Commitments to fund loans not secured by real estate 6550 118,936 1.c.2
d. Securities underwriting 3817 0 1.d
e. Other unused commitments 3818 1,522,122 1.e
2. Financial standby letters of credit and foreign office guarantees 3819 50,523 2
a. Amount of financial standby letters of credit conveyed to others 3820 746 2.a
3. Performance standby letters of credit and foreign office guarantees 3821 205,649 3.
a. Amount of performance standby letters of credit conveyed to others 3822 5,987 3.a
4. Commercial and similar letters of credit 3411 22,007 4
5. Participations in acceptances (as described in the instructions) conveyed to
others by the reporting bank 3428 0 5
6. Securities lent (including customers' securities lent where the customer is
indemnified against loss by the reporting bank) 3433 425,872 6
7. CREDIT DERIVATIVES :
a. NOTIONAL AMOUNT OF CREDIT DERIVATIVES ON WHICH THE REPORTING BANK IS THE
GUARANTOR A534 0 7.a
(1) GROSS POSITIVE FAIR VALUE C219 0 7.a.1
(2) GROSS NEGATIVE FAIR VALUE C220 0 7.a.2
b. NOTIONAL AMOUNT OF CREDIT DERIVATIVES ON WHICH THE REPORTING BANK IS THE
BENEFICIARY A535 0 7.b
(1) GROSS POSITIVE FAIR VALUE C221 0 7.b.1
(2) GROSS NEGATIVE FAIR VALUE C222 0 7.b.2
8. Spot foreign exchange contracts 8765 0 8
9. All other off-balance sheet liabilities (exclude derivatives) (itemize and
describe each component of this item over 25% of Schedule RC, item 28,
"Total equity capital") 3430 3,867,132 9
TEXT
a. Securities borrowed 3432 3,867,132 9.a
b. Commitments to purchase when-issued securities 3434 0 9.b
c. 3555 3555 N/A 9.c
d. 3556 3556 N/A 9.d
e. 3557 3557 N/A 9.e
10. All other off-balance sheet assets (exclude derivatives)(itemize and describe
each component of this item over 25% Schedule RC item 28., "Total equity capital") 5591 0 10
TEXT
a. Commitments to sell when-issued securities 3435 0 10.a
b. 5592 5592 N/A 10.b
c. 5593 5593 N/A 10.c
d. 5594 5594 N/A 10.d
e. 5595 5595 N/A 10.e
11. YEAR-TO-DATE MERCHANT CREDIT CARD SALES VOLUME: RCFD Tri Bil | Mil | Thou
a. SALES FOR WHICH THE REPORTING BANK IS THE ACQUIRING BANK C223 0 11.a
b. SALES FOR WHICH THE REPORTING BANK IS THE AGENT BANK WITH RISK C224 0 11.b
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-15
Legal Title of Bank
25
FDIC Certificate Number - 05208
SCHEDULE RC-L--CONTINUED
<Table>
<Caption>
Dollar Amounts in Thousands (Column A) (Column B) (Column C) (Column D)
Interest Foreign Equity Commodity
Derivatives Position Indicators Rate Exchange Derivative and Other
Contracts Contracts Contracts Contracts
- ------------------------------------------------------------------------------------------------------------------------------
Tril|Bil|000|Thou Tril|Bil|Mil|Thou Tril|Bil|Mil|Thou Tril|Bil|Mil|Thou
12. Gross amounts (e.g., notional amounts) (for
each column, sum of items 12.a through 12.e
must equal sum of items 13 and 14): RCFD 8693 RCFD 8694 RCFD 8695 RCFD 8696
a. Futures contracts 0 0 0 0 12.a
RDFD 8697 RCFD 8698 RCFD 8699 RCFD 8700
b. Forward contracts 0 0 0 0 12.b
c. Exchange-traded option contracts: RCFD 8701 RCFD 8702 RCFD 8703 RCFD 8704
(1) Written options 0 0 0 0 12.c.1
RCFD 8705 RCFD 8706 RCFD 8707 RCFD 8708
(2) Purchased options 0 0 0 0 12.c.2
d. Over-the-counter option contracts: RCFD 8709 RCFD 8710 RCFD 8711 RCFD 8712
(1) Written options 173,385 0 0 82 12.d.1
RCFD 8713 RCFD 8714 RCFD 8715 RCFD 8716
(2) Purchased options 165,334 0 0 82 12.d.2
RCFD 3450 RCFD 3826 RCFD 8719 RCFD 8720
e. Swaps 1,546,396 0 0 13,974 12.e
13. Total gross notional amount of RCFD A126 RCFD A127 RCFD 8723 RCFD 8724
derivative contracts held for trading 1,685,115 0 0 14,138 13
14. Total gross notional amount of
derivative contracts held for RCFD 8725 RCFD 8726 RCFD 8727 RCFD 8728
purposes other than trading 200,000 0 0 0 14
a. Interest rate swaps where the bank RCFD A589
has agreed to pay a fixed rate 0 14.a
15. Gross fair values of derivative contracts:
a. Contracts held for trading: RCFD 8733 RCFD 8734 RCFD 8735 RCFD 8736
(1) Gross positive fair value 46,253 0 0 2,680 15.a.1
RCFD 8737 RCFD 8738 RCFD 8739 RCFD 8740
(2) Gross negative fair value 43,070 0 0 2,609 15.a.2
b. Contracts held for purposes other than
trading: RCFD 8741 RCFD 8742 RCFD 8743 RCFD 8744
(1) Gross positive fair value 16,417 0 0 0 15.b.1
RCFD 8745 RCFD 8746 RCFD 8747 RCFD 8748
(2) Gross negative fair value 0 0 0 0 15.b.2
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-16
Legal Title of Bank
26
FDIC Certificate Number - 05208
SCHEDULE RC-M--MEMORANDA
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
1. Extensions of credit by the reporting bank to its executive officers,
directors, principal shareholders, and their related interests as of
the report date:
a. Aggregate amount of all extensions of credit to all executive
officers, directors, principal shareholders, and their related
interests 6164 3,217 1.a
b. Number of executive officers, directors, and principal shareholders
to whom the amount of all extensions of credit by the reporting
bank (including extensions of credit to related interests) equals
or exceeds the lesser of $500,000 or 5 percent NUMBER
of total capital as defined for this purpose in agency regulations 6165 3 1.b
2. Intangible assets other than goodwill:
a. Mortgage servicing Assets 3164 124 2.a
(1) Estimated fair value of mortgage servicing assets A590 124 2.a.1
b. Purchased credit card relationships and nonmortgage servicing assets B026 2,211 2.b
c. All other identifiable intangible assets 5507 5,261 2.c
d. Total (sum of items 2.a, 2.b, and 2.c) (must equal Schedule RC,
item 10.b) 0426 7,596 2.d
3. Other real estate owned:
a. Direct and indirect investments in real estate ventures 5372 0 3.a
b. All other real estate owned: RCON
(1) Construction, land development, and other land in domestic
offices 5508 0 3.b.1
(2) Farmland in domestic offices 5509 466 3.b.2
(3) 1-4 family residential properties in domestic offices 5510 5,058 3.b.3
(4) Multifamily (5 or more) residential properties in domestic
offices 5511 0 3.b.4
(5) Nonfarm nonresidential properties in domestic offices 5512 1,804 3.b.5
RCFN
(6) In foreign offices 5513 0 3.b.6
RCFD
c. Total (sum of items 3.a and 3.b) (must equal Schedule RC, item 7) 2150 7,328 3.c
4. Investments in unconsolidated subsidiaries and associated companies:
a. Direct and indirect investments in real estate ventures 5374 0 4.a
b. All other investments in unconsolidated subsidiaries and associated
companies 5375 0 4.b
c. Total (sum of items 4.a and 4.b) (must equal Schedule RC, item 8) 2130 0 4.c
5. Other borrowed money:
a. Federal Home Loan Bank advances:
(1) With a remaining maturity of one year or less(1) 2651 3,472,207 5.a.1
(2) With a remaining maturity of more than one year through three
years B565 1,335,199 5.a.2
(3) With a remaining maturity of more than three years B566 1,950,000 5.a.3
b. Other borrowings:
(1) With a remaining maturity of one year or less B571 312,355 5.b.1
(2) With a remaining maturity of more than one year through three
years B567 10,639 5.b.2
(3) With a remaining maturity of more than three years B568 1,295 5.b.3
c. Total (sum of items 5.a.(1) through 5.b.(3)) (must equal Schedule
RC, item 16) 3190 7,081,695 5.c
<Caption>
YES / NO
6. Does the reporting bank sell private label or third party mutual funds and annuities? B569 YES 6
<Caption>
RCFD Bil | Mil | Thou
7. Assets under the reporting bank's management in proprietary mutual funds and annuities B570 0 7
</Table>
- ----------
(1) INCLUDES OVERNIGHT FEDERAL HOME LOAN BANK ADVANCES.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-17
Legal Title of Bank
27
FDIC Certificate Number - 05208
SCHEDULE RC-N--PAST DUE AND NONACCRUAL LOANS, LEASES, AND OTHER ASSETS
<Table>
<Caption>
(Column A) (Column B)
Past due Past due 90
30 through 89 days or more
days and still and still
accruing accruing
-------------------- --------------------
Dollar Amounts in Thousands RCON Bil|Mil|Thou RCON Bil|Mil|Thou
- ----------------------------------------------------------------------------------------------------------------------------------
1. Loans secured by real estate:
a. Construction, land development, and other
land loans in domestic offices 2759 856 2769 0
b. Secured by farmland in domestic offices 3493 1,078 3494 0
c. Secured by 1-4 family residential
properties in domestic offices:
(1) Revolving, open-end loans secured by
1-4 family residential properties and
extended under lines of credit 5398 2,403 5399 191
(2) Closed-end loans secured by 1-4 family
residential properties:
(a) SECURED BY FIRST LIENS C236 131,366 C237 7,019
(b) SECURED BY JUNIOR LIENS C238 9,649 C239 1,426
d. Secured by multifamily (5 or more) residential
properties in domestic offices 3499 84 3500 0
e. Secured by nonfarm nonresidential properties
properties in domestic offices 3502 3,549 3503 32
RCFN RCFN
f. In foreign offices B572 0 B573 0
2. Loans to depository institutions and acceptances
of other banks:
a. To U.S. banks and other U.S. depository RCFD RCFD
institutions 5377 0 5378 0
b. To foreign banks 5380 0 5381 0
3. Loans to finance agricultural production and
other loans to farmers 1594 1,817 1597 0
4. Commercial and industrial loans:
a. To U.S. addressees (domicile) 1251 32,193 1252 802
b. To non-U.S. addressees (domicile) 1254 0 1255 0
5. Loans to individuals for household, family, and
other personal expenditures:
a. Credit cards B575 0 B576 0
b. Other (includes single payment, installment,
all student loans, and revolving
credit plans other than credit cards) B578 12,877 B579 8,972
6. Loans to foreign governments and official
institutions 5389 0 5390 0
7. All other loans 5459 703 5460 105
8. Lease financing receivables:
a. Of U.S. addressees (domicile) 1257 32,924 1258 0
b. Of non-U.S. addressees (domicile) 1271 0 1272 0
9. Debt securities and other assets (exclude other
real estate owned and other repossessed assets) 3505 0 3506 0
<Caption>
(Column C)
Nonaccrual
---------------------
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- -------------------------------------------------------------------------------------------------------------
1. Loans secured by real estate:
a. Construction, land development, and other
land loans in domestic offices 3492 729 1.a
b. Secured by farmland in domestic offices 3495 972 1.b
c. Secured by 1-4 family residential
properties in domestic offices:
(1) Revolving, open-end loans secured by
1-4 family residential properties and
extended under lines of credit 5400 3,175 1.c.1
(2) Closed-end loans secured by 1-4 family
residential properties:
(a) SECURED BY FIRST LIENS C229 19,475 1.c.2.a
(b) SECURED BY JUNIOR LIENS C230 67 1.c.2.b
d. Secured by multifamily (5 or more) residential
properties in domestic offices 3501 323 1.d
e. Secured by nonfarm nonresidential properties
properties in domestic offices 3504 10,291 1.e
RCFN
f. In foreign offices B574 0 1.f
2. Loans to depository institutions and acceptances
of other banks:
a. To U.S. banks and other U.S. depository RCFD
institutions 5379 0 2.a
b. To foreign banks 5382 0 2.b
3. Loans to finance agricultural production and
other loans to farmers 1583 2,104 3
4. Commercial and industrial loans:
a. To U.S. addressees (domicile) 1253 97,400 4.a
b. To non-U.S. addressees (domicile) 1256 0 4.b
5. Loans to individuals for household, family, and
other personal expenditures:
a. Credit cards B577 0 5.a
b. Other (includes single payment, installment,
all student loans, and revolving
credit plans other than credit cards) B580 777 5.b
6. Loans to foreign governments and official
institutions 5391 0 6
7. All other loans 5461 318 7
8. Lease financing receivables:
a. Of U.S. addressees (domicile) 1259 67,816 8.a
b. Of non-U.S. addressees (domicile) 1791 0 8.b
9. Debt securities and other assets (exclude other
real estate owned and other repossessed assets) 3507 0 9
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-18
Legal Title of Bank
28
FDIC Certificate Number - 05208
SCHEDULE RC-N--CONTINUED
Amounts reported in Schedule RC-N, items 1 through 8, above include
guaranteed and unguaranteed portions of past due and nonaccrual loans and
leases. Report in item 10 below certain guaranteed loans and leases that have
already been included in the amounts reported in items 1 through 8.
<Table>
<Caption>
(Column A) (Column B) (Column C)
Past due Past due 90 Nonaccrual
30 through 89 days or more
days and still and still
accruing accruing
------------------ ----------------- -----------------
Dollar Amounts in Thousands RCFD|Bil|Mil|Thou RCFD|Bil|Mil|Thou RCFD|Bil|Mil|Thou
- ---------------------------------------------------------------------------------------------------------------------
10. Loans and leases reported in items 1
through 8 above which are wholly or partially
guaranteed by the U.S. Government 5612 6,239 5613 6,642 5614 222 10
a. Guaranteed portion of loans and leases
included in item 10 above 5615 6,162 5616 6,598 5617 113 10.a
</Table>
<Table>
<Caption>
(Column A) (Column B) (Column C)
Past due Past due 90 Nonaccrual
30 through 89 days or more
Memoranda days and still and still
accruing accruing
------------------ ----------------- -----------------
Dollar Amounts in Thousands RCFD|Bil|Mil|Thou RCFD|Bil|Mil|Thou RCFD|Bil|Mil|Thou
- ---------------------------------------------------------------------------------------------------------------------
1. Restructured loans and leases included in
Schedule RC-N, items 1 through 8, above
(and not reported in Schedule RC-C, Part I,
Memorandum item 1) 1658 0 1659 0 1661 0 M.1
2. Loans to finance commercial real estate,
construction, and land development activities
(not secured by real estate) included in
Schedule RC-N, items 4 and 7, above 6558 1,316 6559 0 6560 982 M.2
3. Loans secured by real estate to non-U.S.
addresses (domicile) (included in
Schedule RC-N, item 1, above) 1248 0 1249 0 1250 0 M.3
4. Not applicable
5. LOANS AND LEASES HELD FOR SALE (INCLUDED IN
SCHEDULE RC-N, ITEMS 1 THROUGH 8, ABOVE) C240 92,158 C241 9,584 C226 1,565 M.5
</Table>
<Table>
<Caption>
(Column A) (Column B)
Past due Past due 90
30 through days or more
89 days
----------------- -----------------
RCFD|Bil|Mil|Thou RCFD|Bil|Mil|Thou
- ----------------------------------------------------------------------------------------------
6. Interest rate, foreign exchange rate, and other
commodity and equity contracts:
Fair value of amounts carried as assets 3529 0 3530 0 M.6
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-19
Legal Title of Bank
29
FDIC Certificate Number - 05208
SCHEDULE RC-O--OTHER DATA FOR DEPOSIT INSURANCE AND FICO ASSESSMENTS
<Table>
<Caption>
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- -------------------------------------------------------------------------------------------------------------------------------
1. Unposted debits (see instructions):
a. Actual amount of all unposted debits 0030 0 1.a
OR
b. Separate amount of unposted debits:
(1) Actual amount of unposted debits to demand deposits 0031 N/A 1.b.1
(2) Actual amount of unposted debits to time and savings deposits(1) 0032 N/A 1.b.2
2. Unposted credits (see instructions):
a. Actual amount of all unposted credits 3510 0 2.a
OR
b. Separate amount of unposted credits:
(1) Actual amount of unposted credits to demand deposits 3512 N/A 2.b.1
(2) Actual amount of unposted credits to time and savings deposits(1) 3514 N/A 2.b.2
3. Uninvested trust funds (cash) held in bank's own trust department
(not included in total deposits in domestic offices) 3520 0 3
4. Deposits of consolidated subsidiaries in domestic offices and in
insured branches in Puerto Rico and U.S. territories and possessions
(not included in total deposits ):
a. Demand deposits of consolidated subsidiaries 2211 1,381,756 4.a
b. Time and savings deposits(1) of consolidated subsidiaries 2351 0 4.b
c. Interest accrued and unpaid on deposits of consolidated subsidiaries 5514 0 4.c
5. Deposits in insured branches in Puerto Rico and U.S. territories and
possessions:
a. Demand deposits in insured branches (included in Schedule RC-E,
Part II) 2229 0 5.a
b. Time and saving deposits(1) in insured branches (included in
Schedule RC-E, Part II) 2383 0 5.b
c. Interest accrued and unpaid on deposits in insured branches
(included in Schedule RC-G, item 1.b) 5515 0 5.c
6. Reserve balances actually passed through to the Federal Reserve by the
reporting bank on behalf of its respondent depository institutions
that are also reflected as deposit liabilities of the reporting bank:
a. Amount reflected in demand deposits (included in Schedule RC-E,
Part I, Item 7 column B) 2314 0 6.a
b. Amount reflected in time and savings deposits(1) (included in
Schedule RC-E, Part I, Item 7, column A or C, but not column B) 2315 0 6.b
7. Unamortized premiums and discounts on time and savings deposits: (1, 2)
a. Unamortized premiums 5516 0 7.a
b. Unamortized discounts 5517 109 7.b
8. TO BE COMPLETED BY BANKS WITH "OAKAR DEPOSITS".
a. Deposits purchased or acquired from other FDIC-insured institutions
during the quarter (exclude deposits purchased or acquired from
foreign offices other than insured branches in Puerto Rico and U.S.
territories and possessions):
(1) Total deposits purchased or acquired from other
FDIC-insured institutions during the quarter A531 0 8.a.1
(2) Amount of purchased or acquired deposits reported in item 8.a.(1)
above attributable to a secondary fund (i.e., BIF members
report deposits attributable to SAIF; SAIF members report
deposits attributable to BIF) A532 0 8.a.2
b. Total deposits sold or transferred to other FDIC-insured institutions
during the quarter (exclude sales or transfers by the reporting bank
of deposits in foreign offices other than insured branches in
Puerto Rico and U.S. territories and possessions) A533 0 8.b
</Table>
- ----------
(1) For FDIC and FICO insurance assessment purposes, "time and savings deposits"
consists of nontransaction accounts and all transaction accounts other than
demand deposits.
(2) Exclude core deposit intangibles.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-20
Legal Title of Bank
30
FDIC Certificate Number - 05208
SCHEDULE RC-O--Continued
<Table>
<Caption>
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- -------------------------------------------------------------------------------------------------------------------------------
9. Deposits in lifeline accounts 5596 9
10. Benefit-responsive "Depository Institution Investment Contracts"
(included in total deposits in domestic offices) 8432 0 10
11. Adjustments to demand deposits in domestic offices and in insured
branches in Puerto Rico and U.S. territories and possessions reported
in Schedule RC-E for certain reciprocal demand balances:
a. Amount by which demand deposits would be reduced if the reporting
bank's reciprocal demand balances with the domestic offices of U.S.
banks and savings associations and insured branches in Puerto Rico
and U.S. territories and possessions that were reported on a gross
basis in Schedule RC-E had been reported on a net basis 8785 0 11.a
b. Amount by which demand deposits would be increased if the reporting
bank's reciprocal demand balances with foreign banks and foreign
offices of other U.S. banks (other than insured branches in Puerto
Rico and U.S. territories and possessions) that were reported on a
net basis in Schedule RC-E had been reported on a gross basis A181 0 11.b
c. Amount by which demand deposits would be reduced if cash items in
process of collection were included in the calculation of the
reporting bank's net reciprocal demand balances with the domestic
offices of U.S. banks and savings associations and insured branches
in Puerto Rico and U.S. territories and possessions in Schedule RC-E A182 0 11.c
12. Amount of assets netted against deposit liabilities in domestic offices
and in insured branches in Puerto Rico and U.S. territories and
possessions on the balance sheet (Schedule RC) in accordance with
generally accepted accounting principles (exclude amounts related to
reciprocal demand balances):
a. Amount of assets netted against demand deposits A527 0 12.a
b. Amount of assets netted against time and savings deposits A528 0 12.b
</Table>
MEMORANDA (TO BE COMPLETED EACH QUARTER EXCEPT AS NOTED)
<Table>
<Caption>
Dollar Amounts in Thousands RCON Bil | Mil | Thou
- -------------------------------------------------------------------------------------------------------------------------------
1. TOTAL DEPOSITS IN DOMESTIC OFFICES OF THE BANK AND IN INSURED BRANCHES
IN PUERTO RICO AND U.S. TERRITORIES AND POSSESSIONS (SUM OF MEMORANDUM
ITEMS 1.a.(1) AND 1.b.(1) MUST EQUAL THE SUM OF SCHEDULE RC, ITEM 13.a,
AND SCHEDULE RC-O, ITEMS 5.a AND 5.b):
a. Deposit accounts of $100,000 or less:
(1) Amount of deposit accounts of $100,0000 or less 2702 9,248,415 M.1.a 1
NUMBER
(2) Number of deposit accounts of $100,000 or less
(TO BE COMPLETED FOR THE JUNE REPORT ONLY) 3779 N/A M.1.a 2
b. Deposit accounts of more than $100,000:
(1) Amount of deposit accounts of more than $100,000 2710 23,615,078 M.1.b 1
NUMBER
(2) Number of deposit accounts of more than $100,000 2722 18,448 M.1.b 2
2. MEMORANDUM ITEM 2 IS TO BE COMPLETED BY ALL BANKS.
ESTIMATED AMOUNT OF UNINSURED DEPOSITS IN DOMESTIC OFFICES OF THE BANK
AND IN INSURED BRANCHES IN PUERTO RICO AND U.S. TERRITORIES AND
POSSESSIONS (SEE INSTRUCTIONS) 5597 21,770,278 M.2
3. Has the reporting institution been consolidated with a parent bank
or savings association in that parent bank's or parent savings
association's Call Report or Thrift Financial Report ?
If so, report the legal title and FDIC Certificate Number of the
parent bank or parent savings association:
<Caption>
TEXT RCON FDIC CERT NO.
A545 A545 N/A M.3
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-21
Legal Title of Bank
31
FDIC Certificate Number - 05208
SCHEDULE RC-R--REGULATORY CAPITAL
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil | Mil | Thou
- ------------------------------------------------------------------------------------------------------------------------------
TIER 1 CAPITAL
1. Total equity capital (from Schedule RC, item 28) 3210 4,079,693 1
2. LESS: Net unrealized gains (losses) on available-for-sale securities
(1) (if a gain, report as a positive value; If a loss, report as a
negative value) 8434 53,795 2
3. LESS: Net unrealized loss on available-for-sale EQUITY securities (1)
(report loss as a positive value) A221 0 3
4. LESS: Accumulated net gains (losses) on cash flow hedges (1)
(if a gain, report as a positive value; if a loss, report as a
negative value) 4336 0 4
5. LESS: Nonqualifying perpetual preferred stock B588 0 5
6. Qualifying minority interests in consolidated subsidiaries B589 0 6
7. LESS: Disallowed goodwill and other disallowed intangible assets B590 346,866 7
8. SUBTOTAL (SUM OF ITEMS 1 AND 6, LESS ITEMS 2, 3, 4, 5, AND 7) C227 3,679,032 8
9.a. LESS: Disallowed servicing assets and purchased credit card
relationships B591 12 9.a
b. LESS: Disallowed deferred tax assets 5610 0 9.b
10. Other additions to (deductions from) Tier 1 capital B592 0 10
11. TIER 1 CAPITAL (SUM OF ITEMS 8 AND 10, LESS ITEMS 9.A AND 9.B) 8274 3,679,020 11
TIER 2 CAPITAL
12. Qualifying subordinated debt and redeemable preferred stock 5306 0 12
13. Cumulative perpetual preferred stock includible in Tier 2 capital B593 0 13
14. Allowance for loan and lease losses includible in Tier 2 capital 5310 284,263 14
15. Unrealized gains on available-for-sale equity securities includible in
Tier 2 capital 2221 320 15
16. Other Tier 2 capital components B594 0 16
17. Tier 2 capital (sum of items 12 through 16) 5311 284,583 17
18. Allowable Tier 2 capital (lesser of item 11 or 17) 8275 284,583 18
19. Tier 3 capital allocated for market risk 1395 0 19
20. LESS: Deductions for total risk-based capital B595 0 20
21. Total risk-based capital (sum of items 11, 18, and 19, less item 20) 3792 3,963,603 21
TOTAL ASSETS FOR LEVERAGE RATIO
22. Average total assets (from Schedule RC-K, item 9) 3368 55,610,248 22
23. LESS: Disallowed goodwill and other disallowed intangible assets (from
item 7 above) B590 346,866 23
24. LESS: Disallowed servicing assets and purchased credit card
relationships (from item 9.a above) B591 12 24
25. LESS: Disallowed deferred tax assets (from item 9.b above) 5610 0 25
26. LESS: Other deductions from assets for leverage capital purposes B596 0 26
27. Average total assets for leverage capital purposes (item 22 less items
23 through 26) A224 55,263,370 27
ADJUSTMENTS FOR FINANCIAL SUBSIDIARIES
28.a ADJUSTMENT TO TIER 1 CAPITAL REPORTED IN ITEM 11 C228 0 28.a
b. Adjustment to total risk-based capital reported in item 21 B503 0 28.b
29. Adjustment to risk-weighted assets reported in item 62 B504 0 29
30. Adjustment to average total assets reported in item 27 B505 0 30
<Caption>
CAPITAL RATIOS
(Column B is to be completed by all banks. Column A is to be
completed by banks with financial subsidiaries) (Column A) (Column B)
RCFD Percentage RCFD Percentage
- ------------------------------------------------------------------------------------------------------------------------------
31. Tier 1 leverage ratio (2) 7273 N/A 7204 6.66% 31
32. Tier 1 risk-based capital ratio (3) 7274 N/A 7206 12.53% 32
33. Total risk-based capital ratio (4) 7275 N/A 7205 13.50% 33
</Table>
- ----------
(1) Report amount included in Schedule RC, item 26.b, "Accumulated other
comprehensive income."
(2) The ratio for column B is item 11 divided by item 27. The ratio for column A
is item 11 minus item 28.a divided by (item 27 minus item 30).
(3) The ratio for column B is item 11 divided by item 62. The ratio for column A
is item 11 minus item 28.a divided by (item 62 minus item 29).
(4) The ratio for column B is item 21 divided by item 62. The ratio for column A
is item 21 minus item 28.b divided by (item 62 minus item 29).
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-22
Legal Title of Bank
32
FDIC Certificate Number - 05208
SCHEDULE RC-R--CONTINUED
Banks are not required to risk-weight each on-balance sheet asset and the credit
equivalent amount of each off-balance sheet item that qualifies for a risk
weight of less than 100 percent (50 percent for derivatives) at its lower risk
rate. When completing items 34 through 54 of Schedule RC-R, each bank should
decide for itself how detailed a risk-weight analysis it wishes to perform. In
other words, a bank can choose from among its assets and off-balance sheet items
that have a risk weight of less than 100 percent which ones to risk-weight at an
appropriate lower risk, or it can simply risk-weight some or all of these items
at a 100 percent risk weight (50 percent for derivatives).
<Table>
<Caption>
(Column A) (Column B) (Column C) (Column D) (Column E) (Column F)
-----------------------------------------------------------
Totals Items Not Allocation by Risk Weight Category
(from Subject to -----------------------------------------------------------
Dollar Amounts in Thousands Schedule RC) Risk-Weighting 0% 20% 50% 100%
- --------------------------------------------------------------------------------------------------------------------------------
BALANCE SHEET ASSET CATAGORIES Bil| Mil|Thou Bil| Mil|Thou Bil| Mil|Thou Bil| Mil|Thou Bil| Mil Thou Bil Mil Thou
34. Cash and balances due from
depository institutions
(Column A equals the sum of
Schedule RC, items 1.a and RCFD 0010 RCFD B600 RCFD B601 RCFD B602
1.b) 1,884,467 253,483 1,630,984 0 34
RCFD 1754 RCFD B603 RCFD B604 RCFD B605 RCFD B606 RCFD B607
35. Held-to-maturity securities 0 0 0 0 0 0 35
RCFD 1773 RCFD B608 RCFD B608 RCFD B610 RCFD B611 RCFD B612
36. Available-for-sale securities 1,613,776 86,370 415,356 709,232 104,557 298,261 36
37. Federal funds sold and RCFD C225 RCFD C083 RCFD C084 RCFD B520
securities purchased under 8,278,225 0 8,278,225 0 37
agreements to resell
38. Loans and leases held for RCFD 5369 RCFD B617 RCFD B618 RCFD B619 RCFD B620 RCFD B621
sale 21,079,237 0 0 2,560,827 18,516,845 1,565 38
39. Loans and leases, net of RCFD B528 RCFD B622 RCFD B623 RCFD B624 RCFD B625 RCFD B626
unearned income (1) 18,011,762 0 0 3,274,248 2,459,113 12,278,401 39
40. LESS: Allowance for loan and RCFD 3123 RCFD 3123
lease losses 284,263 284,263 40
RCFD 3545 RCFD B627 RCFD B628 RCFD B629 RCFD B830 RCFD B631
41. Trading assets 367,486 48,914 0 318,572 0 0 41
RCFD 8639 RCFD B640 RCFD B641 RCFD B642 RCFD B643 RCFD 5339
42. All other assets (2) 1,892,510 346,878 87,679 422,612 74,869 960,472 42
43. Total assets (sum of items RCFD 2170 RCFD B844 RCFD 5320 RCFD 5327 RCFD 5334 RCFD 5340
34 through 42) 52,843,200 197,899 756,518 17,194,700 21,155,384 13,536,699 43
</Table>
- ----------
(1) Include any allocated transfer risk reserve in column B.
(2) Includes premises and fixed assets, other real estate owned, investments in
unconsolidated subsidiaries and associated companies, customers' liability
on acceptances outstanding, intangible assets, and other assets.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-23
Legal Title of Bank
FDIC Certificate Number - 05208 33
SCHEDULE RC-R--CONTINUED
<Table>
<Caption>
(Column C) (Column D) (Column E) (Column F)
(Column A) (Column B) ------------------------------------------------------
Face Value Credit Credit Allocation by Risk Weight Category
or Notional Conversion Equivalent ------------------------------------------------------
Amount Factor Amount (1) 0% 20% 50% 100%
------------ ------------ ------------ ------------ ------------ ------------
Dollar Amounts in Thousands Bil Mil Thou Bil Mil Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou
- ---------------------------------------------------------------------------------------------------------------------------------
DERIVATIVES AND OFF-BALANCE
SHEET ITEMS RCFD B646 See footnote 2 RCFD B547 RCFD B548 RCFD B581 RCFD B582 RCFD B583
44. Financial standby letters
of credit 50,523 1.000 50,523 0 0 0 50,523 44
45. Performance standby RCFD 3821 RCFD B650 RCFD B651 RCFD B652 RCFD B653 RCFD B654
letters of of credit 205,649 .50 102,825 0 0 0 102,825 45
46. Commercial and similar RCFD 3411 RCFD B655 RCFD B656 RCFD B657 RCFD B658 RCFD B669
letters of credit 22,007 .20 4,401 0 0 0 4,401 46
47. Risk participations in
bankers acceptances
acquired by the RCFD 3429 RCFD B660 RCFD B661 RCFD B662 RCFD B663
reporting institution 0 1.00 0 0 0 0 47
RCFD 3433 RCFD B666 RCFD B665 RCFD B666 RCFD B667 RCFD B668
48. Securities lent 425,872 1.00 425,872 0 425,872 0 0 48
49. Retained recourse on small
business obligations RCFD A250 RCFD B669 RCFD B670 RCFD B671 RCFD B672 RCFD B673
sold with recourse 0 1.00 0 0 0 0 0 49
50. RECOURSE AND DIRECT
CREDIT SUBSTITUTES
(OTHER THAN FINANCIAL
STANDBY LETTERS OF
CREDIT) SUBJECT TO THE
LOW-LEVEL EXPOSURE RULE
AND RESIDUAL INTERESTS
SUBJECT TO A
DOLLAR-FOR-DOLLAR RCFD B541 Below RCFD B542 RCFD B543
CAPITAL REQUIREMENT 0 12.500 0 0 50
51. All other financial RCFD B675 RCFD B676 RCFD B677 RCFD B678 RCFD B679 RCFD B680
assets sold with recourse 0 1.00 0 0 0 0 0 51
52. All other off-balance RCFD B681 RCFD B682 RCFD B683 RCFD B684 RCFD B685 RCFD B686
sheet liabilities 0 1.00 0 0 0 0 0 52
53. Unused commitments with RCFD 3833 RCFD B687 RCFD B688 RCFD B689 RCFD B690 RCFD B691
an original maturity
exceeding one year 3,074,296 .50 1,537,148 0 1,604 11,925 1,523,619 53
RCFD A167 RCFD B693 RCFD B694 RCFD B695
54. Derivative contracts 77,408 0 34,743 42,665 54
</Table>
- ----------
(1) Column A multiplied by credit conversion factor.
(2) For financial standby letters of credit to which the low-level exposure rule
applies, use a credit conversion factor of 12.5 or an institution-specific
factor. For other financial standby letters of credit, use a credit
conversion factor of 1.00. See instructions for further information.
(3) Or institution-specific factor.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-24
Legal Title of Bank
FDIC Certificate Number - 05208 34
SCHEDULE RC-R--CONTINUED
<Table>
<Caption>
(Column C) (Column D) (Column E) (Column F)
---------------------------------------------------------------
Allocation by Risk Weight Category
---------------------------------------------------------------
0% 20% 50% 100%
---------------------------------------------------------------
Dollar Amounts in Thousands Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou
- -----------------------------------------------------------------------------------------------------------------------------
TOTALS
55. Total assets, derivatives, and off-balance sheet items RCFD B696 RCFD B697 RCFD B698 RCFD B699
by risk weight category (for each column, sum of items
43 through 54)
756,518 17,656,919 21,209,974 15,220,067 55
56. Risk weight factor * 0% * 20% * 50% * 100% 56
57. Risk-weighted assets by risk weight category (for each RCFD B700 RCFD B701 RCFD B702 RCFD B703
column, item 55 multiplied by item 56)
0 3,531,384 10,604,987 15,220,067 57
RCFD 1651
58. Market risk equivalent assets 0 58
59. Risk-weighted assets before deductions for excess RCFD B704
allowance for loan and lease losses and allocated
transfer risk reserve (sum of item 57, columns C
through F, and item 58)
29,356,438 59
RCFD A222
60. LESS: Excess allowance for loan and lease losses 0 60
RCFD 3128
61. LESS: Allocated transfer risk reserve 0 61
RCFD A223
62. Total risk-weighted assets (item 59 minus items 60
and 61) 29,356,438 62
</Table>
Memoranda
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil|Mil|Thou
- ----------------------------------------------------------------------------------------------------------------------------------
1. Current credit exposure across all derivative contracts
covered by the risk-based capital standards 8764 65,350 M.1
</Table>
<Table>
<Caption>
With a remaining maturity of
-------------------------------------------------------------------------------
(Column A) (Column B) (Column C)
One year Over one year Over
or less through five years
five years
-------------------------------------------------------------------------------
RCFD Tril Bil Mil Thou RCFD Tril Bil Mil Thou RCFD Tril Bil Mil Thou
-------------------------------------------------------------------------------
2. Notional principal amounts of
derivative contracts: (1)
a. Interest rate contracts 3809 470,629 8766 817,678 8767 423,423 M.2.a
b. Foreign exchange contracts 3812 0 8769 0 8770 0 M.2.b
c. Gold contracts 8771 0 8772 0 8773 0 M.2.c
d. Other precious metals contracts 8774 0 8775 0 8776 0 M.2.d
e. Other commodity contracts 8777 3,404 8778 10,652 8779 0 M.2.e
f. Equity derivative contracts A000 0 A001 0 A002 0 M.2.f
</Table>
- ----------
(1) Exclude foreign exchange contracts with an original maturity of 14 days or
less and all futures contracts.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-25
Legal Title of Bank
FDIC Certificate Number - 05208 35
SCHEDULE RC-S--SECURITIZATION AND ASSET SALE ACTIVITIES
<Table>
<Caption>
(Column A) (Column B) (Column C) (Column D) (Column E) (Column F) (Column G)
1-4 Family Home Credit Other Commercial All Other
Residential Equity Card Auto Consumer and Industrial Loans and
Loans Loans Receivables Loans Loans Loans All Leases
------------------------------------------------------------------------------------------------
Dollar Amounts in Thousands Bil Mil Thou Bil Mil Thou Bil Mil Thou Bil Mil Thou Bil Mil Thou Bil Mil Thou Bil Mil Thou
- --------------------------------------------------------------------------------------------------------------------------------
BANK SECURITIZATION ACTIVITIES
1. Outstanding principal
balance of assets sold and
securitized by the reporting
bank with servicing retained
or with recourse or other
seller-provided credit
enhancements RCFD B705 RCFD B706 RCFD B707 RCFD B708 RCFD B709 RCFD B710 RCFD B711
0 0 0 2 0 0 0 1
2. Maximum amount of credit
exposure arising from
recourse or other
seller-provided credit
enhancements provided to
structurs reported in
item 1 in the form of:
a. Retained interest-only
strips (included in
Schedules RC-B or RC-F
or in Schedule RC,
item 5) RCFD B712 RCFD B713 RCFD B714 RCFD B715 RCFD B716 RCFD B717 RCFD B718
0 0 0 0 0 0 0 2.a
b. Standby letters of
credit, sub-ordinated
securities, and other
enhancements RCFD B719 RCFD B720 RCFD B721 RCFD B722 RCFD B723 RCFD B724 RCFD B725
0 0 0 0 0 0 0 2.b
3. Reporting bank's unused
commitments to provide
liquidity to structures
reported in item 1 RCFD B726 RCFD B727 RCFD B728 RCFD B729 RCFD B730 RCFD B731 RCFD B732
0 0 0 0 0 0 0 3
4. Past due loan amounts
included in item 1: RCFD B733 RCFD B734 RCFD B735 RCFD B736 RCFD B737 RCFD B738 RCFD B739
a. 30-89 days past due 0 0 0 0 0 0 0 4.a
RCFD B740 RCFD B741 RCFD B742 RCFD B743 RCFD B744 RCFD B745 RCFD B746
b. 90 days or more past due 0 0 0 0 0 0 0 4.b
5. Charge-offs and recoveries
on assets sold and
securitized with servicing
retained or with recourse or
other seller-provided credit
enhancements (calendar
year-to-date): RIAD B747 RIAD B748 RIAD B749 RIAD B750 RIAD B751 RIAD B752 RIAD B753
a. Charge-offs 0 0 0 0 0 0 0 5.a
RIAD B754 RIAD B755 RIAD B756 RIAD B757 RIAD B758 RIAD B759 RIAD B760
b. Recoveries 0 0 0 0 0 0 0 5.b
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-26
Legal Title of Bank
FDIC Certificate Number - 05208 36
SCHEDULE RC-S--CONTINUED
<Table>
<Caption>
(Column A) (Column B) (Column C) (Column D) (Column E) (Column F) (Column G)
1-4 Family Home Credit Other Commercial All Other
Residential Equity Card Auto Consumer and Industrial Loans and
Loans Loans Receivables Loans Loans Loans All Leases
-------------------------------------------------------------------------------------------------
Dollar Amounts in Thousands Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou
- ---------------------------------------------------------------------------------------------------------------------------------
6. Amount of ownership (or
seller's) interest
carried as: RCFD B761 RCFD B762 RCFD B763
a. Securities (included in
RC-B or RC, item 5) 0 0 0 6.a
RCFD B500 RCFD B501 RCFD B502
b. Loans (included in
Schedule RC-C) 0 0 0 6.b
7. Past due loan amounts
included in interests
reported in item 6.a: RCFD B764 RCFD B765 RCFD B766
a. 30-89 days past due 0 0 0 7.a
RCFD B767 RCFD B768 RCFD B769
b. 90 days or more past due 0 0 0 7.b
8. Charge-offs and recoveries
on loan amounts included in
interests reported in item
6.a (calendar year-to-date): RIAD B770 RIAD B771 RIAD B772
a. Charge-offs 0 0 0 8.a
RIAD B773 RIAD B774 RIAD B775
b. Recoveries 0 0 0 8.b
FOR SECURITIZATION FACILITIES
SPONSORED BY OR OTHERWISE
ESTABLISHED BY OTHER
INSTITUTIONS
9. Maximum amount of credit
exposure arising from credit
enhancements provided by the
reporting bank to other
institutions' securitization
structures in the form of
standby letters of credit,
purchased subordinated
securities, and other RCFD B776 RCFD B777 RCFD B778 RCFD B779 RCFD B780 RCFD B781 RCFD B782
enhancements 0 0 0 0 0 0 0 9
10. Reporting bank's unused
commitments to provide
liquidity to other
institutions' securitization RCFD B783 RCFD B784 RCFD B785 RCFD B786 RCFD B787 RCFD B788 RCFD B789
structures 0 0 0 0 0 0 0 10
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-27
Legal Title of Bank
FDIC Certificate Number - 05208 37
SCHEDULE RC-S--CONTINUED
<Table>
<Caption>
(Column A) (Column B) (Column C) (Column D) (Column E) (Column F) (Column G)
1-4 Family Home Credit Other Commercial All Other
Residential Equity Card Auto Consumer and Industrial Loans and
Loans Loans Receivables Loans Loans Loans All Leases
------------------------------------------------------------------------------------------------
Dollar Amounts in Thousands Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou Bil|Mil|Thou
- --------------------------------------------------------------------------------------------------------------------------------
BANK ASSET SALES
11. Assets sold with recourse
or other seller - provided
credit enhancements and not
securitized by the reporting RCFD B790 RCFD B791 RCFD B792 RCFD B793 RCFD B794 RCFD B795 RCFD B796
bank 0 0 0 0 0 0 0 11
12. Maximum amount of credit
exposure arising from
recourse or other seller-
provided credit enhancements
provided to assets reported RCFD B797 RCFD B798 RCFD B799 RCFD B800 RCFD B801 RCFD B802 RCFD B803
in item 11 0 0 0 0 0 0 0 12
</Table>
Memoranda
<Table>
<Caption>
Dollar Amounts in Thousands RCFD Bil|Mil|Thou
- ------------------------------------------------------------------------------------------------------------------------------------
1. Small Business obligations transferred with recourse under Section 208 of the
Riegle Community Development and Regulatory Improvement Act of 1994:
a. Outstanding principal balance A249 0 M.1.a
b. Amount of retained recourse on these obligations as of the report date A250 0 M.1.b
2. Outstanding principal balance of assets serviced for others:
a. 1-4 family residential mortgages serviced with recourse or other servicer-provided
credit enhancements B804 0 M.2.a
b. 1-4 family residential mortgages serviced with no recourse or other servicer-provided
credit enhancements B805 184 M.2.b
c. Other financial assets (1) A591 53,451 M.2.c
3. Asset-backed commercial paper conduits:
a. Maximum amount of credit exposure arising from credit enhancements provided
to conduit structures in the form of standby letters of credit, subordinated
securities, and other enhancements:
(1) Conduits sponsored by the bank, a bank affiliate, or the bank's holding company B806 0 M.3.a.1
(2) Conduits sponsored by other unrelated institutions B807 0 M.3.a.2
b. Unused commitments to provide liquidity to conduit structures:
(1) Conduits sponsored by the bank, a bank affiliate, or the bank's holding company B808 0 M.3.b.1
(2) Conduits sponsored by other unrelated institutions B809 0 M.3.b.2
</Table>
- ----------
(1) Memorandum item 2.c is to be completed if the principal balance of other
financial assets serviced for others is more than $10 million.
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-28
Legal Title of Bank
FDIC Certificate Number - 05208 38
SCHEDULE RC-T--FIDUCIARY AND RELATED SERVICES
ITEMS 12 THROUGH 23 AND MEMORANDUM ITEM 4 WILL NOT BE MADE AVAILABLE TO THE
PUBLIC ON AN INDIVIDUAL INSTITUTION BASIS.
<Table>
1. Does the bank have fiduciary powers? (If "NO", RCFD YES/NO
do not complete Schedule RC-T.) A345 YES 1
2. Does the bank exercise the fiduciary powers it RCFD YES/NO
has been granted? A346 YES 2
3. Does the institution have any fiduciary or related
activity (in the form of assets or accounts)? RCFD YES/NO
(If "NO", do not complete the rest of Schedule RC-T.) B867 YES 3
</Table>
If the answer to item 3 is "YES", complete the applicable items of Schedule
RC-T, as follows:
Institutions with total fiduciary assets (Item 9, sum of columns A and B)
greater than $250 million (as of the preceding December 31) or with gross
fiduciary and related services income greater than 10% of revenue (net interest
income plus noninterest income) for the preceeding calendar year must complete:
- - Items 4 through 19.a quarterly,
- - Items 20 through 23 annually with the December report, and
- - Memorandum items 1 through 4 annually with the December report.
Institutions with total fiduciary assets (item 9, sum of columns A and B)
greater than $100 million but less than or equal to $250 million (as of the
preceding December 31) that do not meet the fiduciary income test for quarterly
reporting must complete:
- - Items 4 through 23 annually with the December report, and
- - Memorandum items 1 through 4 annually with the December report.
Institutions with total fiduciary assets (item 9, sum of columns A and B) of
$100 million or less (as of the preceding December 31) that do not meet the
fiduciary income test for quarterly reporting must complete:
- - Items 4 through 11 annually with the December report, and
- - Memorandum items 1 through 3 annually with the December report.
<Table>
<Caption>
(Column C) (Column D)
(Column A) (Column B) Number of Number of
Managed Non-Managed Managed Non-Managed
Assets Assets Accounts Accounts
----------------------------------------------------------------------------------
Dollar Amounts in Thousands Tril|Bil|Mil|Thou Tril|Bil|Mil|Thou
- --------------------------------------------------------------------------------------------------------------------------
FIDUCIARY AND RELATED ASSETS RCFD B868 RCFD B869 RCFD B870 RCFD B871
4. Personal trust and agency accounts 6,034,866 632,889 7,519 172 4
5. Retirement related trust and agency
accounts:
a. Employee benefit-defined RCFD B872 RCFD B873 RCFD B874 RCFD B875
contribution 2,139,708 22,376,928 94 2,607 5.a
RCFD B876 RCFD B877 RCFD B878 RCFD B879
b. Employee benefit-defined benefit 2,949,061 14,409,569 83 457 5.b
RCFD B880 RCFD B881 RCFD B882 RCFD B883
c. Other retirement accounts 2,213,818 4,287,449 1,350 574 5.c
RCFD B884 RCFD B885 RCFD C001 RCFD C002
6. Corporate trust and agency accounts 1,069,877 49,101,956 61 12,766 6
7. Investment management agency RCFD B886 RCFD B888
accounts 264,214 281 7
RCFD B890 RCFD B891 RCFD B892 RCFD B893
8. Other fiduciary accounts 358,950 2,632,971 105 392 8
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-29
Legal Title of Bank
FDIC Certificate Number - 05208 39
SCHEDULE RC-T--CONTINUED
<Table>
<Caption>
(Column C) (Column D)
(Column A) (Column B) Number of Number of
Managed Non-Managed Managed Non-Managed
Assets Assets Accounts Accounts
----------------------------------------------------------------------
Dollar Amounts in Thousands Tril|Bil|Mil|Thou Tril|Bil|Mil|Thou
- -----------------------------------------------------------------------------------------
FIDUCIARY AND RELATED
ASSETS--Continued
9. Total fiduciary accounts RCFD B894 RCFD B895 RCFD B896 RCFD B897
(sum of items 4 through 8) 15,030,494 93,441,752 9,493 16,968 9
RCFD B898 RCFD B899
10. Custody and safekeeping accounts 168,972,172 3,540 10
11. Fiduciary accounts held in foreign RCFN B900 RCFN B901 RCFN B902 RCFN B903
ofices (included in items 9 and 10) 0 0 0 0 11
</Table>
<Table>
<Caption>
Managed
Assets
Memoranda ------------------
Dollar Amounts in Thousands RCFD Bil|Mil|Thou
- ---------------------------------------------------------------------------------------------------------------------------
1. Managed assets held in personal trust and agency accounts:
a. Non interest-bearing deposits B913 454 M.1.a
b. Interest-bearing deposits B914 5,333 M.1.b
c. U.S. Treasury and U.S. Government agency obligations B915 485,909 M.1.c
d. State, county and municipal obligations B916 760,766 M.1.d
e. Money market mutual funds B917 84 M.1.e
f. Other short-term obligations B918 499 M.1.f
g. Other notes and bonds B919 117,369 M.1.g
h. Common and preferred stocks B920 4,472,264 M.1.h
i. Real estate mortgages B921 4,279 M.1.i
j. Real estate B922 100,419 M.1.j
k. Miscellaneous assets B923 87,490 M.1.k
l. Total assets of managed personal trust and agency accounts (sum of
Memorandum items 1.a through 1.k) (must equal Schedule RC-T,
item 4, column A) B868 6,034,866 M.1.l
</Table>
<Page>
WELLS FARGO BANK MINNESOTA, N.A. FFIEC 031
- ------------------------------------------- RC-30
Legal Title of Bank
FDIC Certificate Number - 05208 40
SCHEDULE RC-T--CONTINUED
Memoranda-Continued
<Table>
<Caption>
(Column A) (Column B)
Number of Principal Amount
Issues Outstanding
-------------------------------------------------
Dollar Amounts in Thousands RCFD RCFD Bil|Mil|Thou
- ------------------------------------------------------------------------------------------------------------------------------
2. Corporate trust and agency accounts:
a. Corporate and municipal trusteeships B927 51,806 B928 541,999,161 M.2.a
b. Transfer agent, registrar, paying agent,
and other corporate agency B929 3,598 M.2.b
</Table>
<Table>
<Caption>
(Column A) (Column B)
Number of Market Value of
Funds Fund Assets
-------------------------------------------------
Dollar Amounts in Thousands RCFD RCFD Bil|Mil|Thou
- ------------------------------------------------------------------------------------------------------------------------------
3. Collective investment funds and common
trust funds:
a. Domestic equity B931 1 B932 342 M.3.a
b. International/Global equity B933 0 B934 0 M.3.b
c. Stock/Bond blend B935 2 B936 14,433 M.3.c
d. Taxable bond B937 2 B938 858,415 M.3.d
e. Municipal bond B939 0 B940 0 M.3.e
f. Short term investments/Money market B941 0 B942 0 M.3.f
g. Specialty/Other B943 0 B944 0 M.3.g
h. Total collective investment funds (sum
of Memorandum items 3.a through 3.g) B945 5 B946 873,190 M.3.h
</Table>
<Page>
OPTIONAL NARRATIVE STATEMENT CONCERNING THE AMOUNTS FFIEC 031
REPORTED IN THE REPORTS OF CONDITION AND INCOME RC-31
at close of business on December 31, 2002
41
Wells Fargo Bank Minnesota, N.A. Minneapolis MN
- -------------------------------- ----------- --
LEGAL TITLE OF BANK CITY STATE
The management of the reporting bank may, if it wishes, submit a brief narrative
statement on the amounts reported in the Reports of Condition and Income. This
optional statement will be made available to the public, along with the publicly
available data in the Reports of Condition and Income, in response to any
request for individual bank report data. However, the information reported in
Schedule RC-T, items 12 through 23 and Memorandum item 4, is regarded as
confidential and will not be released to the public. BANKS CHOOSING TO SUBMIT
THE NARRATIVE STATEMENT SHOULD ENSURE THAT THE STATEMENT DOES NOT CONTAIN THE
NAMES OR OTHER IDENTIFICATIONS OF INDIVIDUAL BANK CUSTOMERS, REFERENCES TO THE
AMOUNTS REPORTED IN THE CONFIDENTIAL ITEMS IN SCHEDULE RC-T, OR ANY OTHER
INFORMATION THAT THEY ARE NOT WILLING TO HAVE MADE PUBLIC OR THAT WOULD
COMPROMISE THE PRIVACY OF THEIR CUSTOMERS. Banks choosing not to make a
statement may check the "No comment' box below and should make no entries of any
kind in the space provided for the narrative statement; i.e., DO NOT enter in
this space such phrases as "No statement," "Not applicable," "N/A," "No
comment," and "None."
The optional statement must be entered on this sheet. The statement should not
exceed 100 words. Further, regardless of the number of words, the statement must
not exceed 750 characters, including punctuation, indentation, and standard
spacing between words and sentences. If any submission should exceed 750
characters, as defined, it will be truncated at 750 characters with no notice to
the submitting bank and the truncated statement will appear as the bank's
statement both on agency computerized records and in computer-file releases to
the public.
All information furnished by the bank in the narrative statement must be
accurate and not misleading. Appropriate efforts shall be taken by the
submitting bank to ensure the statement's accuracy. The statement must be
signed, in the space provided below, by a senior officer of the bank who thereby
attests to its acuracy.
If, subsequent to the original submission, material changes are submitted for
the data reported in the Reports of Condition and Income, the existing narrative
statement will be deleted from the files, and from disclosure; the bank, at its
option, may replace it with a statement, under signature, appropriate to the
amended data.
The optional narrative statement will appear in agency records and in release to
the public exactly as submitted (or amended as described in the preceding
paragraph) by the management of the bank (except for the trucnation of the
statements exceeding the 750-character limit described above.) THE STATEMENT
WILL NOT BE EDITED OR SCREENED IN ANY WAY BY THE SUPERVISORY AGENCIES FOR
ACCURACY OR RELEVANCE. DISCLOSURE OF THE STATEMENT SHALL NOT SIGNIFY THAT ANY
FEDERAL SUPERVISORY AGENCY HAS VERIFIED OR CONFIRMED THE ACCURACY OF THE
INFORMATION CONTAINED THEREIN. A STATEMENT TO THIS EFFECT WILL APPEAR ON ANY
PUBLIC RELEASE OF THE OPTIONAL STATEMENT SUBMITTED BY THE MANAGEMENT OF THE
REPORTING BANK.
X = NO COMMENT Y = COMMENT _____________________________________ 6979 /X/
BANK MANAGEMENT STATEMENT (PLEASE TYPE OR PRINT CLEARLY):
TEXT (70 CHARACTERS PER LINE )
6980
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
____________________________________________________________
------------------------------------------------------------
SIGNATURE OF EXECUTIVE OFFICER OF BANK DATE OF SIGNATURE