Wells Fargo 2011 Annual Report Download - page 4

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Outstanding results
The results were outstanding. WellsFargo
achieved record net income for the third
consecutive year, up 28percent to $15.9billion.
Diluted earnings per common share rose
28percent to $2.82. Our customers entrusted
us with even more of their business. Total
deposits grew 9 percent to $920.1billion. Total
loans grew 2 percent to $769.6billion. Many
of our businesses had double-digit revenue
growth. Asa result of our performance, we were
rewarded with a higher value in the market.
Wewere ranked No.1 in the U.S. banking
industry in total market value of our company,
even though we’re the fourth largest by assets.
Our team achieved all this while successfully
executing the largest, most complex bank
merger in our nation’s history. We began our
integration with Wachovia at the beginning
of 2009. We completed it on schedule and
under budget early in the first quarter of 2012.
All of our more than 6,200 retail banking stores
are now on one system so our customers can
do their banking business when, where, and
how they want to do it, coast to coast. Your
hometown WellsFargo bank is wherever you
happen to be.
Guided by our time-tested Vision & Values,
we also have more opportunities than ever
before to serve our customers and communities,
and help our country grow. We’re fortunate to
have the most extensive U.S. financial services
store network. We’re in more communities and
closer to more customers than anyone else.
Weserve one of every three U.S. households.
We originate one of every four home mortgages.
We service more home loans than anyone else.
We’re the nation’s No.1 small business lender in
dollars and the No.1 middle-market commercial
lender. We’re first or second in home loans, car
loans, student loans, and business loans.
John G. Stumpf
Chairman, President and
Chief Executive Ocer
WellsFargo & Company
To our owners,
Our more than 270,000 talented team
members — whom we believe to be
the best team in the business — pulled
together for our customers as never
before in 2011. They were guided, as
always, by our unchanging vision:
tosatisfy all our customers’ financial
needs and help them succeed financially.
They were guided by our values, and
what we stand for: honoring and
supporting our people, striving for the
highest ethical standards, doing what’s
right for our customers, learning from
diversity, and calling on everyone
tobeleaders.