Wells Fargo 2012 Annual Report Download - page 40

Earnings Performance (continued)
Table 5: Average Balances, Yields and Rates Paid (Taxable-Equivalent Basis) (1)(2)(3)
2012 2011
Interest Interest
Average Yields/ income/ Average Yields
/
income/
(in millions) balance rates expense balance rates expense
Earning assets
Federal funds sold, securities purchased under
resale agreements and other short-term investments $ 84,081 0.45 % $ 378 87,186 0.40 % $ 345
Trading assets (4) 41,950 3.29 1,380 39,737 3.68 1,463
Securities available for sale (5):
Securities of U.S. Treasury and federal agencies 3,604 1.31 47 5,503 1.25 69
Securities of U.S. states and political subdivisions 34,875 4.48 1,561 24,035 5.09 1,223
Mortgage-backed securities:
Federal agencies 92,887 3.12 2,893 74,665 4.36 3,257
Residential and commercial 33,545 6.75 2,264 31,902 8.20 2,617
Total mortgage-backed securities 126,432 4.08 5,157 106,567 5.51 5,874
Other debt and equity securities 49,245 4.04 1,992 38,625 5.03 1,941
Total securities available for sale 214,156 4.09 8,757 174,730 5.21 9,107
Mortgages held for sale (6) 48,955 3.73 1,825 37,232 4.42 1,644
Loans held for sale (6) 661 6.22 41 1,104 5.25 58
Loans:
Commercial:
Commercial and industrial 173,913 4.01 6,981 157,608 4.37 6,894
Real estate mortgage 105,437 4.18 4,411 102,236 4.07 4,163
Real estate construction 17,963 4.98 894 21,592 4.88 1,055
Lease financing 12,771 7.22 921 12,944 7.54 976
Foreign 39,852 2.47 984 36,768 2.56 941
Total commercial 349,936 4.06 14,191 331,148 4.24 14,029
Consumer:
Real estate 1-4 family first mortgage 234,619 4.55 10,671 226,980 4.89 11,090
Real estate 1-4 family junior lien mortgage 80,840 4.28 3,457 90,705 4.33 3,926
Credit card 22,772 12.67 2,885 21,463 13.02 2,794
Other revolving credit and installment 87,057 6.10 5,313 86,848 6.29 5,463
Total consumer 425,288 5.25 22,326 425,996 5.46 23,273
Total loans (6) 775,224 4.71 36,517 757,144 4.93 37,302
Other 4,438 4.70 209 4,929 4.12 203
Total earning assets $ 1,169,465 4.20 % $ 49,107 1,102,062 4.55 % $ 50,122
Funding sources
Deposits:
Interest-bearing checking $ 30,564 0.06 % $ 19 47,705 0.08 % $ 40
Market rate and other savings 505,310 0.12 592 464,450 0.18 836
Savings certificates 59,484 1.31 782 69,711 1.43 995
Other time deposits 13,363 1.68 225 13,126 2.04 268
Deposits in foreign offices 67,920 0.16 109 61,566 0.22 136
Total interest-bearing deposits 676,641 0.26 1,727 656,558 0.35 2,275
Short-term borrowings 51,196 0.18 94 51,781 0.18 94
Long-term debt 127,547 2.44 3,110 141,079 2.82 3,978
Other liabilities 10,032 2.44 245 10,955 2.88 316
Total interest-bearing liabilities 865,416 0.60 5,176 860,373 0.77 6,663
Portion of noninterest-bearing funding sources 304,049 - - 241,689 - -
Total funding sources $ 1,169,465 0.44 5,176 1,102,062 0.61 6,663
Net interest margin and net interest income
on a taxable-equivalent basis (7) 3.76 % $ 43,931 3.94 % $ 43,459
Noninterest-earning assets
Cash and due from banks $ 16,303 17,388
Goodwill 25,417 24,904
Other 130,450 125,911
Total noninterest-earning assets $ 172,170 168,203
Noninterest-bearing funding sources
Deposits $ 263,863 215,242
Other liabilities 61,214 57,399
Total equity 151,142 137,251
Noninterest-bearing funding sources used to
fund earning assets (304,049) (241,689)
Net noninterest-bearing funding sources $ 172,170 168,203
Total assets $ 1,341,635 1,270,265
(1) Because the Wachovia acquisition was completed at the end of 2008, Wachovia’s assets and liabilities are included in average balances, and Wachovia’s results are reflected
in interest income/expense beginning in 2009.
(2) Our average prime rate was 3.25%, 3.25%, 3.25%, 3.25%, and 5.09% for 2012, 2011, 2010, 2009, and 2008, respectively. The average three-month London Interbank
Offered Rate (LIBOR) was 0.43%, 0.34%, 0.34%, 0.69%, and 2.93% for the same years, respectively.
(3) Yield/rates and amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(4) Interest income/expense for trading assets represents interest and dividend income earned on trading securities.
38