A diversified U.S. financial services company, Wells Fargo offers banking, mortgages, investment, and commercial finance through four segments serving consumers, businesses, and institutions. It was founded in San Francisco in 1852 by Henry Wells and William Fargo, who built an express service hauling gold, mail, and valuables by stagecoach during the California Gold Rush. That stagecoach still appears in the company's logo today, a nod to its frontier roots.
Wells Fargo Q2 2026 net income rose 17% to $6.4B as revenue increased 9% to $22.6B
rose for a second straight quarter after five quarters of decline. increased 9% to $22.6B and rose 15% to $1.60 as rose 13% and loan and deposit growth accelerated. The asset cap is gone and balance sheet growth has returned, leaving the bank to show it can hold margin while expanding.
Key takeaways
grew 5% to $12.3B on lower deposit costs, higher loan and securities balances, and Markets business growth, extending the reversal of five straight quarterly declines that ended in Q3 2025.
Total rose 9% to $22.6B, driven by a 13% increase in from investment advisory fees, investment banking fees, and equity securities gains, plus the gain.
rose 17% to $6.4B and rose 15% to $1.60, partially offset by a 2% rise in noninterest expense to $13.7B from technology, advertising, and personnel costs.
Section summaries
Management's Discussion and Analysis
Wells Fargo Q2 2026 net income rose 17% to $6.4B on higher noninterest income and net interest income, partially offset by increased expenses and taxes.
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Total increased 9% to $22.6B, driven by a 13% rise in noninterest income (notably investment advisory fees, investment banking fees, and equity securities gains) and a 5% increase in .
Average loans grew 12% to $1.03T and average deposits increased 10% to $1.47T, continuing the reversal of multi-year deposit outflows first seen in Q1 2026.
decreased 9% to $914M with lower net charge-offs in commercial and consumer portfolios; was 10.26%, above the 8.50% minimum.
What changed
Q2 2026 rose 5%, confirming the Q3 2025 turn was not a one-quarter pause and extending the reversal flagged after Q1 2026's 5% rise.
Average loans and deposits grew 12% and 10% after Q1 2026's 10% and 6% increases, confirming the multi-year customer migration to higher-yielding alternatives has reversed.
fell to $914M after the 22% Q1 2026 increase to $1.1B on C&I and auto growth, settling the watch item with lower net charge-offs instead of further build.
was 10.26%, down from 10.29% in Q1 2026, as the $40B program continues execution with no reported change to the ratio trajectory.
declined to 2.43% from 2.68% even as rose, continuing the seen across 2025 and Q1 2026.
What to watch
Q3 2026 and margin to see if the 5% Q2 rise continues as margin fell to 2.43% from 2.68%.
Execution of the $40B program and its effect on the , which was 10.26% in Q2.
Average loans and deposits in Q3 after the 12% and 10% Q2 increases to see if C&I-led growth holds.
Remaining FDIC special assessment charges toward the up-to-$1.8B flagged total, not reported as closed.
grew to $12.3B due to lower deposit costs, higher loan and securities balances, and growth in the Markets business, though declined to 2.43% from 2.68%.
Noninterest expense rose 2% to $13.7B, primarily from higher technology, advertising, and personnel costs, partly offset by lower lease expense and operating losses.
decreased 9% to $914M, with lower in commercial and consumer portfolios, while the allowance for credit losses for loans remained stable at $14.4B.
The CET1 ratio under the Standardized Approach was 10.26%, exceeding the 8.50% regulatory minimum, and the liquidity coverage ratio was 119%, above the 100% requirement.
Average loans grew 12% to $1.03T, led by commercial and industrial loans, and average deposits increased 10% to $1.47T, driven by interest-bearing deposits.
Information in response to this item can be found in Note 9 (Legal Actions) to Financial Statements in this Report which information is incorporated by reference into this item.
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Information in response to this item can be found in Note 9 (Legal Actions) to Financial Statements in this Report which information is incorporated by reference into this item.
Information in response to this item can be found under the “Financial Review – Risk Factors” section in this Report which information is incorporated by reference into this item.
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Information in response to this item can be found under the “Financial Review – Risk Factors” section in this Report which information is incorporated by reference into this item.