Wells Fargo Bank, National Association
Analysis
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Edited by General
As the third largest bank in the US, Wells Fargo has a large network. The bank has a history of poor customer interactions on both the savings and lendings side that have lead to regulatory discipline. As a result, customers can now benefit from more focus on providing service that is better and compliant with federal and state rules. They however will not find the most competitive savings or lending rates.
Advantages
- Fees can generally be easily avoided.
- The bank offers early direct deposit which may give you faster access to regular deposits.
Disadvantages
- Wells Fargo should be much more proactive about addressing the climate crisis, but it has continued to heavily fund fossil fuels.
- Rates on Wells's savings and checking accounts are ordinarily not competitive (although Chase has issued competitive brokered CDs available through other brokers).
- The bank charges a $35 overdraft fee.
Financial Details
Wells Fargo Bank, National Association Ratio Analysis
The following ratios and data are available to help you better understand the financial condition of Wells Fargo Bank, National Association. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.
Texas Ratio
| Wells Fargo Bank, National Association | U.S. Bank Average |
|---|---|
| 6.85% | 4.29% |
The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.
As of March 31, 2024, Wells Fargo Bank, National Association had $11,911,000,000 in non-current loans and $265,000,000 in owned real estate. To cover these potential losses it had $163,377,000,000 in equity and $14,426,000,000 in loans loss reserves. That gives it a Texas Ratio of 6.85%.
Return on Equity
| Wells Fargo Bank, National Association | U.S. Bank Average |
|---|---|
| 13.15% | 10.46% |
Wells Fargo Bank, National Association has a Return on Equity of 13.15% versus the BestCashCow average of 10.46%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.
Capitalization
| Wells Fargo Bank, National Association | U.S. Bank Average |
|---|---|
| 9.37% | 10.73% |
Wells Fargo Bank, National Association has a Capitalization of 9.37% versus the BestCashCow average of 10.73. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.
Wells Fargo Bank, National Association Balance Sheet Analysis
As of March 31, 2024, Wells Fargo Bank, National Association had assets of $1,743,283,000,000, loans of $874,814,000,000, and deposits of $1,434,491,000,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.
Summary Balance Sheet
March 31, 2024| ASSETS | |
|---|---|
| Cash & Balances due from depository institutions | $ 268.37 billion |
| Interest-bearing balances | $ 239.09 billion |
| Total securities | $ 390.17 billion |
| Federal funds sold and reverse repurchase | $ 42.72 billion |
| Net loans and leases | $ 874.81 billion |
| Loan loss allowance | $ 14.43 billion |
| Trading account assets | $ 53.01 billion |
| Bank premises and fixed assets | N.A. |
| Other real estate owned | $ 265.00 million |
| Goodwill and other intangibles | $ 30.63 billion |
| All other assets | $ 73.19 billion |
| Total Assets | $ 1,579.91 billion |
| LIABILITIES | |
|---|---|
| Total deposits | $ 1,434.49 billion |
| Interest-bearing deposits | $ 1,041.28 billion |
| Deposits held in domestic offices | $ 1,414.35 billion |
| % insured (estimated) | 57.63% |
| Federal funds purchased and repurchase agreements | $ 7.08 billion |
| Trading liabilities | $ 21.58 billion |
| Other borrowed funds | $ 22.19 billion |
| Subordinated debt | $ 9.92 billion |
| All other liabilities | $ 25.02 billion |
| Total Liabilities | $ 1,579.91 billion |
| Shareholders’ Equity | $ 163.38 billion |
Summary Income Statement
March 31, 2024| INCOME AND EXPENSES | |
|---|---|
| Total Interest Income | $ 20.91 billion |
| Total Interest Expense | $ 7.83 billion |
| Net interest income | $ 13.09 billion |
| Provision for loan and lease losses | $ 940.00 million |
| Total non interest income | $ 5.69 billion |
| Total non interest expense | $ 11.33 billion |
| Pre-tax Net Operating Income | $ 9.18 billion |
Bank Loan Profile?
The top three loan types in Wells Fargo Bank, National Association’s loan portfolio are 1-4 Family Residential Loans, Commercial and Industrial Loans, and Commercial Real Estate.
Compared to other banks in South Dakota, Wells Fargo Bank, National Association has a significantly higher percent of 1-4 Family Residential Loans, Multifamily Mortgages, Credit Card Loans, Consumer Auto Loans, Small Business Loans, Construction and Development Loans, Commercial Real Estate, Commercial and Industrial Loans, Farm Loans on its balance sheet, potentially indicating a specialty in that lending area.
Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.
| % Loans |
% Comparison to Other Banks |
|||
|---|---|---|---|---|
| Low | Med | High | ||
| 1-4 Family Residential Loans | 29.17 | ✓ | ||
| Multifamily Mortgages |
2.95 | ✓ | ||
| Credit Card Loans | 4.71 | ✓ | ||
| Consumer Auto Loans | 6.36 | ✓ | ||
| Small Business Loans | 0.51 | ✓ | ||
| Construction and Development Loans | 2.32 | ✓ | ||
| Commercial Real Estate | 10.64 | ✓ | ||
| Commercial and Industrial Loans | 20.47 | ✓ | ||
| Farm Loans | 0.35 | ✓ | ||
Best Rate
Savings Fees
| Fee Type | |
|---|---|
| Non Sufficient Funds | $0.00 |
| Maintenance | $0.00 |
| Out-of-network ATM | $0.00 |
| Excessive Transaction | $0.00 |
| Incoming Wires | $0.00 |
Wells Fargo Bank, National Association Reviews
Thy King
February 6, 2023
after over 100k in transactions through this bank in the course of a year not only did i suffer from fraud but this bank closed my accounts and i have been lliable for all the losses and to top it off with all the great insurance that we are supposed to have to protect our money since they arent a financial services company that was denied also after the bank allowed other entities to treat me and my business as a "pass through entity" i didnt know that a first time business owner doing that kid of revenue was a pass through entity and could be disregarded. The American dream or the core of our international identity would dictate differently.
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