---
schema_version: "secwatch.filing_event.v1"
accession: "0000072971-24-000115"
form_type: "8-K"
ticker: "WFC"
cik: "0000072971"
company_name: "WELLS FARGO & COMPANY/MN"
filed_at: "2024-04-12T23:59:59+00:00"
generated_at: "2026-06-03T23:41:02.979853+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Wells Fargo Q1 net income $4.6B ($1.20 EPS); OCC terminates 2016 sales practices order

## Summary
- Net income $4.6B ($1.20 diluted EPS) vs $4.99B ($1.23) in Q1 2023; revenue $20.86B slightly up from $20.73B.
- Repurchased 112.5M shares for $6.1B in Q1; CET1 ratio 11.2% versus 10.8% a year ago.
- OCC terminated 2016 consent order on sales practices misconduct; sixth enforcement action closed since 2019.
- Average loans $928.1B (-2% YoY); average deposits $1,341.6B (-1% YoY).
- Provision for credit losses $938M vs $1.207B YoY; noninterest expense $14.34B up from $13.68B.

## SEC filing metadata
- accession: 0000072971-24-000115
- form_type: 8-K
- ticker: WFC
- cik: 0000072971
- company_name: WELLS FARGO & COMPANY/MN
- filed_at: 2024-04-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/72971/000007297124000115/0000072971-24-000115-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/72971/000007297124000115/wfc-20240412.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000072971-24-000115
- JSON: https://secwatch.observer/filing/0000072971-24-000115.json
- Plain text: https://secwatch.observer/filing/0000072971-24-000115.txt

## Key facts
- Earnings Releases
  WELLS FARGO & COMPANY/MN reported the quarter ended March 31, 2024 results: revenue $20,863, net income $4,619, EPS $1.20 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Revenue: $20,863
  - Net income: $4,619
  - EPS: $1.20 per diluted share
  - Result: reported results
  source text: per Diluted Share Company-wide Financial Summary Quarter ended Mar 31, 2024 Mar 31, 2023 Selected Income Statement Data ($ in millions except per share amounts) Total revenue $ 20,863 20,729 Noninterest expense 14,338 13,676 Provision for credit losses 1 938 1,207 Net income 4,619 4,991 Diluted earnings per common share 1.20 1.23 Selected Balance Sheet Data ($
  evidence_url: https://www.sec.gov/Archives/edgar/data/72971/000007297124000115/0000072971-24-000115-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.