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Home/Credit & Lending/WELLS FARGO CREDIT CARD

Wells Fargo Loan Book Surges Past $1 Trillion as Interest Income Misses Expectations

DL

Dana Lawson

Wells Fargo credit card · Apr 14, 2026

Wells Fargo Loan Book Surges Past $1 Trillion as Interest Income Misses Expectations

Source: DojiDoji Data Terminal

Wells Fargo shares fell in premarket trading after the bank's net interest income for the first quarter missed Wall Street's average estimate of $12.3 billion. Net interest income—the difference between earnings on loans and payments on deposits—was $12.1 billion.

Related Brief3h ago
personal finance

The $361 Annual Cost of Standard Savings Accounts

A $10,000 emergency fund earns $39 a year in a standard savings account. This is the result of the national average savings rate of 0.39%, a rate most large banks pay. High-yield savings accounts at online banks pay around 4.00% APY, which earns $400 a year on that same $10,000 balance. The difference in annual earnings is $361 per $10,000.

The shortfall was driven by a string of Federal Reserve rate cuts that dragged down loan yields. This occurred as the bank aggressively expanded its balance sheet following the lifting of a $1.95 trillion asset cap last year. Wells Fargo focused its growth on credit cards and auto loans, resulting in an 11% surge in its loan book, which grew past $1 trillion in the quarter.

Related Brief19h ago
banking

M&T Bank First-Quarter Revenue Projections Rise on Stable Funding Costs

Earnings for M&T Bank are estimated to increase 18.6% to $4.01 per share for the first quarter of 2026. This growth is driven by a projected 5.3% rise in revenues to $2.43 billion. Non-interest income is estimated to increase 7.6% to $657.9 million, while net interest income is projected to grow 3.8% to $1.77 billion. These figures follow a period where the Federal Reserve kept interest rates unchanged at 3.50–3.75% in the first quarter, which stabilized funding and deposit costs.

Despite the interest income miss, net profit rose to $5.25 billion, or $1.60 per share, compared to $4.89 billion, or $1.39 per share, a year earlier. Markets revenue surged 19% to $2.17 billion, aided by volatile markets.

Related Brief7h ago
bank earnings

Wells Fargo Repurchases $4 Billion in Shares as Net Interest Margin Slides to 2.47%

Wells Fargo repurchased 46.3 million common shares for $4.0 billion and paid a common dividend of $0.45 per share in the first quarter of 2026. These capital returns followed a 6% year-over-year increase in total revenue to $21.446 billion and net income of $5.253 billion. The growth occurred as the bank's net interest margin on a taxable-equivalent basis fell to 2.47%, down from 2.67% in the first quarter of 2025. Average loans grew 10% to $996.0 billion and average deposits grew 6% to $1.415 trillion. Tangible book value per common share rose to $44.98.

Chief Financial Officer Mike Santomassimo noted that consumers are spending between 25% and 30% more on gas on their credit cards due to higher oil prices. The bank also continues to reduce its workforce, ending the quarter with 200,999 employees, down 7% from 205,198 as of December 31.

Related Brief3d ago
inflation

Gasoline price spikes lock in higher borrowing costs for 2026

Interest rate cuts are likely delayed for several months as inflation veers away from the Federal Reserve's 2% target. The Consumer Price Index rose 0.9% in March 2026, the largest monthly increase since June 2022. Gasoline prices jumped 21.2%, the largest spike on record, accounting for nearly three-quarters of that monthly rise. National average retail gasoline prices crossed $4 a gallon for the first time in over three years. Diesel prices increased 30.8%, the biggest gain since the government began tracking the category, while overall energy prices rose 10.9%, the sharpest climb since 2005. The annual inflation rate rose to 3.3% in the 12 months through March, up from 2.4% in February. Core CPI, excluding food and energy, increased 0.2% monthly and 2.6% annually. The price surges followed the U.S.-Israeli war with Iran, which closed the Strait of Hormuz and sent global crude oil prices more than 30% higher. The Federal Reserve's March meeting minutes indicate a growing number of policymakers believe rate hikes may be necessary if inflation remains entrenched.

Wells Fargo credit card

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