Wells Fargo 2008 Annual Report Download - page 56

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Loan Portfolio
A discussion of average loan balances is included in
“Earnings Performance – Net Interest Income” on page 47
and a comparative schedule of average loan balances is
included in Table 3; year-end balances are in Note 6 (Loans
and Allowance for Credit Losses) to Financial Statements.
Total loans at December 31, 2008, were $864.8 billion,
up $482.6 billion from $382.2 billion at December 31, 2007,
including $446.1 billion (net of $30.5 billion of purchase
accounting net write-downs) acquired from Wachovia.
Consumer loans were $474.9 billion at December 31, 2008,
up $253.0 billion from $221.9 billion a year ago, including
$246.8 billion (net of $21.0 billion of purchase accounting net
write-downs) acquired from Wachovia. Commercial and com-
mercial real estate loans of $356.1 billion at December 31,
2008, increased $203.3 billion from a year ago, including
$171.4 billion (net of $7.9 billion of purchase accounting net
write-downs) acquired from Wachovia. Mortgages held for
sale decreased to $20.1 billion at December 31, 2008, from
$26.8 billion a year ago, including $1.4 billion acquired from
Wachovia.
A summary of the major categories of loans outstanding
showing those subject to SOP 03-3 is presented in the follow-
ing table. For further detail on SOP 03-3 loans see Note 1
(Summary of Significant Accounting Policies – Loans) and
Note 6 (Loans and Allowance for Credit Losses).

Table 9: Maturities for Selected Loan Categories
(in millions) December 31, 2008
Within After After Total
one one year five
year through years
five years
Selected loan maturities:
Commercial $ 59,246 $109,764 $33,459 $202,469
Other real estate
mortgage 23,880 45,565 33,663 103,108
Real estate construction 19,270 13,942 1,464 34,676
Foreign 23,605 7,288 2,989 33,882
Total selected loans $126,001 $176,559 $71,575 $374,135
Sensitivity of loans due after
one year to changes in
interest rates:
Loans at fixed interest rates $ 24,766 $23,628
Loans at floating/variable
interest rates 151,793 47,947
Total selected loans $176,559 $71,575
Table 8: Loan Portfolios
(in millions) December 31,
2008 2007
SOP 03-3 All Total
loans other
loans
Commercial and commercial real estate:
Commercial $ 4,580 $197,889 $202,469 $ 90,468
Other real estate mortgage 7,762 95,346 103,108 36,747
Real estate construction 4,503 30,173 34,676 18,854
Lease financing — 15,829 15,829 6,772
Total commercial and commercial real estate 16,845 339,237 356,082 152,841
Consumer:
Real estate 1-4 family first mortgage 39,214 208,680 247,894 71,415
Real estate 1-4 family junior lien mortgage 728 109,436 110,164 75,565
Credit card — 23,555 23,555 18,762
Other revolving credit and installment 151 93,102 93,253 56,171
Total consumer 40,093 434,773 474,866 221,913
Foreign 1,859 32,023 33,882 7,441
Total loans $58,797 $806,033 $864,830 $382,195
Table 9 shows contractual loan maturities and interest
rate sensitivities for selected loan categories.