Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 120

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 5
Chunk 120
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926 Loan charge-offs:Commercial and industrial(148)(172)Commercial real estate(96)(192)Lease financing(11)(11)Total commercial(255)(375)Residential mortgage(11)(19)Credit card(768)(664)Auto(127)(191)Other consumer(116)(147)Total consumer(1,022)(1,021)Total loan charge-offs(1,277)(1,396)Loan recoveries:Commercial and industrial40 24 Commercial real estate1 5 Lease financing3 5 Total commercial44 34 Residential mortgage26 32 Credit card118 87 Auto63 79 Other consumer17 15 Total consumer224 213 Total loan recoveries268 247 Net loan charge-offs(1,009)(1,149)Other— (3)Balance, end of period$14,552 14,862 Components:Allowance for loan losses$14,029 14,421 Allowance for unfunded credit commitments523 441 Allowance for credit losses$14,552 14,862 Net loan charge-offs (annualized) as a percentage of average total loans0.45 %0.50 Allowance for loan losses as a percentage of total loans1.54 1.56 Allowance for credit losses for loans as a percentage of total loans1.59 1.61 

Wells Fargo & Company71

Note 5:  Loans and Related Allowance for Credit Losses (continued)

Table 5.6 summarizes the activity in the ACL by our commercial and consumer portfolio segments. Table 5.6:  Allowance for Credit Losses for Loans Activity by Portfolio Segment20252024(in millions)CommercialConsumer TotalCommercial Consumer TotalQuarter ended March 31,Balance, beginning of period$7,946 6,690 14,636 8,412 6,676 15,088 Provision for credit losses195 730 925 249 677 926 Loan charge-offs(255)(1,022)(1,277)(375)(1,021)(1,396)Loan recoveries44 224 268 34 213 247 Net loan charge-offs(211)(798)(1,009)(341)(808)(1,149)Other— — — (3)— (3)Balance, end of period$7,930