Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 171

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 12
Chunk 171
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 during the first quarter of both 2025 and 2024.For interest-bearing deposits and long-term debt, instrument-specific credit risk gains or losses represent the impact of changes in fair value due to changes in our credit spread and are generally derived using observable secondary bond market information. These impacts are recorded within the debit valuation adjustments (DVA) in OCI. See Note 21 (Other Comprehensive Income) for additional information.

Wells Fargo & Company101

Note 12:  Fair Value Measurements (continued)

Disclosures about Fair Value of Financial InstrumentsTable 12.9 presents a summary of fair value estimates for financial instruments that are not carried at fair value on a recurring basis. Some financial instruments are excluded from the scope of this table, such as certain insurance contracts, certain nonmarketable equity securities, and leases. This table also excludes assets and liabilities that are not financial instruments such as the value of the long-term relationships with our deposit, credit card and trust customers, MSRs, premises and equipment, goodwill and deferred taxes.Loan commitments, standby letters of credit and commercial and similar letters of credit are not included in Table 12.9. A reasonable estimate of the fair value of these instruments is the carrying value of deferred fees plus the allowance for unfunded credit commitments, which totaled $621 million and $546 million at March 31, 2025, and December 31, 2024, respectively.The total of the fair value calculations presented does not represent, and should not be construed to represent, the underlying fair value of the Company.Table 12.9:  Fair Value Estimates for Financial InstrumentsEstimated fair value (in millions)Carrying amountLevel 1 Level 2 Level 3 TotalMarch 31, 2025Financial assetsCash and due from banks (1)$35,256 35,256 — — 35,256 Interest-earning deposits with banks (1) 142,309 141,984 325 — 142,309 Federal funds sold and securities purchased under resale agreements (1)126,830 — 126,830 — 126,830 Held-to-maturity debt securities227,227 2,086 184,308 3,118 189,512 Loans held for sale2,121 — 1,836 321 2,157 Loans, net (2)883,916 — 2,496 850,869 853,365 Equ