Wells Fargo (WFC) official guidance

As we previously announced, we expect to increase our third-quarter common stock dividend by 11% to $0.50 per share, subject to approval by our board of directors at its meeting later this month.

We still expect net interest income, excluding markets, to be approximately $48 billion for the full year.

As of now, we still expect markets NII to be approximately $2 billion in 2026.

We are maintaining our guidance of $50 billion ± of net interest income for the full year.

Year-over-year average loan growth in the fourth quarter will likely be higher than the mid-single-digit increase we assumed in our outlook back in January.

We expect modest net interest margin compression in the third quarter, broadly in line with second quarter's decline from the first quarter, before stabilizing in the fourth quarter.

We expect modest net interest margin compression in the third quarter, broadly in line with second quarter's decline from the first quarter, before stabilizing in the fourth quarter.

We had originally assumed some growth in non-interest-bearing deposits, but we now expect them to be relatively stable, which is a negative versus our original expectation.

We still expect 2026 non-interest expense to be approximately $55.7 billion.

We will continue to focus on optimizing our capital levels as we manage to a CET1 ratio of approximately 10%-10.5%.

Average deposits are also expected to grow mid-single digits over this period, with growth in all of our operating segments, with stronger growth in interest-bearing versus non-interest-bearing deposits.

We expect our FDIC assessment expense to increase by approximately $400 million in 2026, driven by expected deposit growth and the absence of the approximately $200 million special assessment credit that reduced FDIC expense in the Q4.

We expect approximately $2.4 billion of gross expense reductions in 2026 due to efficiency initiatives.

We currently expect net interest income excluding markets to decline in the Q1 due to the impact of two fewer days.

Second, we expect approximately $800 million of incremental other investments, including in the specific areas highlighted on the next slide.

First, we expect approximately $1.1 billion of incremental technology expense, including investments in infrastructure and business capabilities.

And as a reminder, the Q1 personnel expenses are seasonally higher and are expected to be approximately $700 million.

Our focus is on growing markets revenue, which we expect to increase in 2026.

We're also investing in our branch network and remain on track to have over half of our branches refurbished by the end of this year.

By the end of this year, we expect to have achieved approximately $15 billion of gross expense saves, and this has funded the large increases in spend to make us a better and stronger company and allowed us to reduce overall expenses.

we still expect net interest income for full year 2025 to be roughly in line with full year 2024 net interest income of $47.7 billion.

Fourth quarter net interest income is expected to grow from the third quarter to approximately $12.4 billion-$12.5 billion.

We currently expect our full year 2025 non-interest expense to be approximately $54.6 billion and fourth quarter to be approximately $13.5 billion.

We currently expect our full year 2025 non-interest expense to be approximately $54.6 billion and fourth quarter to be approximately $13.5 billion.

In terms of, you know, we've given you that we're going to buy $6 billion or approximately about that in the fourth quarter. That's the intention at least at this point.