Company: WFC-PC
Filing Date: 2025-04-29
Form Type: 10-Q
Source: 0000072971-25-000129
Chunk: 17

Company: WELLS FARGO & COMPANY/MN
Filing Date: 2025-04-29
Form: 10-Q
Item: Item 1
Chunk 17
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118 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 6,622 14,552 8,317 6,545 14,862 

Credit QualityWe monitor credit quality by evaluating various attributes and utilize such information in our evaluation of the appropriateness of the ACL for loans. The following sections provide the credit quality indicators we most closely monitor. The credit quality indicators are generally based on information as of our financial statement date.COMMERCIAL CREDIT QUALITY INDICATORS.  We manage a consistent process for assessing commercial loan credit quality. Commercial loans are generally subject to individual risk assessment using our internal borrower and collateral quality ratings, which is our primary credit quality indicator. Our