WELLS FARGO & COMPANY/MN (WFC)

Wells Fargo is a leading U.S. financial services company and, based on assets, the fourth largest bank holding company in the United States. At December 31, 2025, it had approximately $2.1 trillion in assets, $986.2 billion in loans, $1.4 trillion in deposits and $181.1 billion in stockholders' equity. It provides a diversified set of banking, investment and mortgage products and services, as well as consumer and commercial finance, primarily in the U.S. and also in other countries.

The company reports four operating segments: Consumer Banking and Lending; Commercial Banking; Corporate and Investment Banking; and Wealth and Investment Management. Consumer offerings include checking and savings accounts, credit and debit cards, and home, auto, personal and small business lending. Wealth offerings include wealth management, brokerage, financial planning, lending, private banking, and trust and fiduciary services. Commercial offerings include banking and credit products across multiple industry sectors and municipalities, secured lending and lease products, and treasury management. Corporate and investment banking offerings include investment banking, treasury management, commercial real estate lending and servicing, equity and fixed income solutions, and sales, trading and research capabilities.

Its customers are individuals, businesses and institutions. They include private, family-owned and public companies, as well as corporate, commercial real estate, government and institutional clients.

Wells Fargo Bank, N.A. is the principal subsidiary, with $1.8 trillion in assets, or 85% of the company's total. The company had approximately 205,000 active employees at year-end 2025, about 76% of them in the U.S. It competes with banks, savings and loan associations, credit unions, finance companies, mortgage banking companies, insurance companies, investment banks, investment advisory firms and mutual fund companies. It also competes with nonbank institutions such as investment managers, brokerage houses, private equity and private credit firms, and financial technology companies. Digital assets and alternative payment methods are a further source of competitive change. As a bank holding company and financial holding company, it is regulated by the Federal Reserve Board. Its national bank subsidiaries are regulated mainly by the OCC, and its brokerage and insurance subsidiaries are regulated by securities and state insurance authorities. It is subject to a 2018 Federal Reserve consent order, whose remaining provisions are still in place, and to a 2024 OCC formal agreement on anti-money laundering and sanctions risk management.