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A Look at Wells Fargo & Co (NYSE:WFC) Community Banking Segment

Wells Fargo & Co (NYSE:WFC) Community Banking segment offers a line of diversified financial products and services for consumers and small businesses including checking and savings accounts, credit and debit cards, automobile, student, mortgage, home equity and small business lending. 

Wells Fargo & Co (WFC) Community Banking recently reported net income of $2.2 billion, down $998 million, or -31%, from a year ago. The results included a $1 billion discrete litigation accrual (not tax deductible) for previously disclosed mortgage-related regulatory investigations. We can plot Wells Fargo & Co (WFC) Community Banking revenue and net income using HADE interactive graphs.

 

Wells Fargo overall revenue was $12.1 billion, a decrease of $327 million (-3%) from a year ago. The decrease was predominantly due to lower mortgage banking revenue and deposit service charges.   

About Wells Fargo & Co. (NYSE:WFC) 

Wells Fargo & Company is a diversified financial services company with $1.93 trillion in assets. Founded in 1852 and headquartered in San Francisco, the company provides banking, insurance, investments, mortgage, and consumer and commercial finance through more than 8,400 locations, 13,000 ATMs, digital (online, mobile and social), and contact centers. They have offices in 42 countries with approximately 268,000 active, full-time employees.