Wells Fargo 2010 Annual Report Download - page 44

Earnings Performance (continued)
Table 5: Average Balances, Yields and Rates Paid (Taxable-Equivalent Basis) (1)(2)(3)
2010 2009
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 $ 62,961 0.36 % $ 230 26,869 0.56 % $ 150
Trading assets 29,920 3.75 1,121 21,092 4.48 944
Debt securities available for sale (4):
Securities of U.S. Treasury and federal agencies 1,926 3.24 61 2,480 2.83 69
Securities of U.S. states and political subdivisions 16,392 6.09 980 12,702 6.42 840
Mortgage-backed securities:
Federal agencies 75,875 5.14 3,697 87,197 5.45 4,591
Residential and commercial 33,191 10.67 3,396 41,618 9.09 4,150
Total mortgage-backed securities 109,066 6.84 7,093 128,815 6.73 8,741
Other debt securities (5) 34,752 6.45 2,102 32,011 7.16 2,291
Total debt securities available for sale (5) 162,136 6.63 10,236 176,008 6.73 11,941
Mortgages held for sale (6) 36,716 4.73 1,736 37,416 5.16 1,930
Loans held for sale (6) 3,773 2.67 101 6,293 2.90 183
Loans:
Commercial:
Commercial and industrial 149,576 4.80 7,186 180,924 4.22 7,643
Real estate mortgage 98,497 3.89 3,836 96,273 3.50 3,365
Real estate construction 31,286 3.36 1,051 40,885 2.91 1,190
Lease financing 13,451 9.21 1,239 14,751 9.32 1,375
Foreign 29,726 3.49 1,037 30,661 3.95 1,212
Total commercial 322,536 4.45 14,349 363,494 4.07 14,785
Consumer:
Real estate 1-4 family first mortgage 235,568 5.18 12,206 238,359 5.45 12,992
Real estate 1-4 family junior lien mortgage 101,537 4.45 4,519 106,957 4.76 5,089
Credit card 22,375 13.35 2,987 23,357 12.16 2,841
Other revolving credit and installment 88,585 6.49 5,747 90,666 6.56 5,952
Total consumer 448,065 5.68 25,459 459,339 5.85 26,874
Total loans (6) 770,601 5.17 39,808 822,833 5.06 41,659
Other 5,849 3.56 207 6,113 3.05 186
Total earning assets $ 1,071,956 5.02 % $ 53,439 1,096,624 5.19 % $ 56,993
Funding sources
Deposits:
Interest-bearing checking $ 60,941 0.12 % $ 72 70,179 0.14 % $ 100
Market rate and other savings 416,877 0.26 1,088 351,892 0.39 1,375
Savings certificates 87,133 1.43 1,247 140,197 1.24 1,738
Other time deposits 14,654 2.07 302 20,459 2.03 415
Deposits in foreign offices 55,097 0.22 123 53,166 0.27 146
Total interest-bearing deposits 634,702 0.45 2,832 635,893 0.59 3,774
Short-term borrowings 46,824 0.22 106 51,972 0.44 231
Long-term debt 185,426 2.64 4,888 231,801 2.50 5,786
Other liabilities 6,863 3.31 227 4,904 3.50 172
Total interest-bearing liabilities 873,815 0.92 8,053 924,570 1.08 9,963
Portion of noninterest-bearing funding sources 198,141 - - 172,054 - -
Total funding sources $ 1,071,956 0.76 8,053 1,096,624 0.91 9,963
Net interest margin and net interest income
on a taxable-equivalent basis (7) 4.26 % $ 45,386 4.28 % $ 47,030
Noninterest-earning assets
Cash and due from banks $ 17,618 19,218
Goodwill 24,824 23,997
Other (8) 112,540 122,515
Total noninterest-earning assets $ 154,982 165,730
Noninterest-bearing funding sources
Deposits $ 183,008 171,712
Other liabilities 47,877 48,193
Total equity
122,238
117,879
Noninterest-bearing funding sources used to
fund earning assets (198,141)
(172,054)
Net noninterest-bearing funding sources $ 154,982 165,730
Total assets
$
1,226,938
1,262,354
(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%, 5.09%, 8.05%, and 7.96% for 2010, 2009, 2008, 2007, and 2006, respectively. The average three-month London Interbank
Offered Rate (LIBOR) was 0.34%, 0.69%, 2.93%, 5.30%, and 5.20% for the same years, respectively.
(3) Interest rates and amounts include the effects of hedge and risk management activities associated with the respective asset and liability categories.
(4) Yields and rates are based on interest income/expense amounts for the period, annualized based on the accrual basis for the respective accounts. The average balance
amounts include the effects of any unrealized gain or loss marks but those marks carried in other comprehensive income are not included in yield determination of affected
earning assets. Thus yields are based on amortized cost balances computed on a settlement date basis.
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