Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 110

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 3
Chunk 110
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.S. states and political subdivisions(11)748 (507)7,215 (518)7,963 Federal agency mortgage-backed securities(1,465)71,424 (5,293)40,722 (6,758)112,146 Non-agency mortgage-backed securities(1)22 (40)1,307 (41)1,329 Other debt securities— — (3)114 (3)114 Total available-for-sale debt securities$(1,554)86,194 (6,273)57,136 (7,827)143,330 (1)Gross unrealized losses exclude portfolio level basis adjustments.We have assessed each debt security with gross unrealized losses included in the previous table for credit impairment. As part of that assessment we evaluated and concluded that we do not intend to sell any of the debt securities, and that it is more likely than not that we will not be required to sell, prior to recovery of the amortized cost basis. We evaluate, where necessary, whether credit impairment exists by comparing the present value of the expected cash flows to the debt securities’ amortized cost basis. Credit impairment is recorded as an ACL for debt securities.For descriptions of the factors we consider when analyzing debt securities for impairment as well as methodology and significant inputs used to measure credit losses, see Note 1 (Summary of Significant Accounting Policies) in our 2024 Form 10-K.

64Wells Fargo & Company

Contractual MaturitiesTable 3.6 and Table 3.7 show the remaining contractual maturities of AFS and HTM debt securities, respectively.Table 3.6:  Contractual Maturities – Available-for-Sale Debt SecuritiesBy remaining contractual maturity ($ in millions)TotalWithinone yearAfterone yearthroughfive yearsAfterfive yearsthroughten yearsAfterten yearsMarch 31, 2025Available-for-sale debt securities:Securities of U.S. Treasury and federal agenciesAmortized cost, net$26,114 598 8,888 15,249 1,379 Fair value25,790 598 8,631 15,259 1,302 Weighted average yield3.52 %4.18 2.46 4.31 1.44 Securities of U.S. states and political subdivisionsAmortized cost, net$12,033 215 3,708 3,230