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Exhibit 99.1 News Release | October 13 , 2026 WELLS Wells Fargo Reports Third Quarter 2026 Net Income of $ 6.0 billion , or $ 1.87 per Diluted Share FARGO Company - wide Financial Summary Selected Income Statement Data ( $ in millions except per share amounts ) Total revenue Noninterest expense Provision for credit losses¹ Net income Diluted earnings per common share Selected Balance Sheet Data ( $ in billions ) Average loans Average deposits CET12 Performance Metrics ROE³ ROTCE4 Operating Segments and Other Highlights Sep 30 , 2026 Quarter ended Sep 30 , 2025 Quarter ended Sep 30 , 2026 % Change from Sep 30 , ( $ in billions ) 2026 Jun 30 , Sep 30 , 2026 2025 Average loans $ 21,870 21,436 Consumer Banking and Lending $ 342.1 1 % 4 13,743 13,846 Commercial Banking 240.5 1 10 1,029 681 Corporate and Investment Banking 353.4 ( 2 ) 19 Wealth and Investment 5,951 5,589 Management 95.4 5 16 1.87 1.66 Average deposits Consumer Banking and Lending 825.1 - Commercial Banking 198.9 $ 1,033.4 928.7 Corporate and Investment Banking 248.1 56 16 22 202 1,482.9 1,339.9 Wealth and Investment 10.0 % 11.0 Management 108.7 ( 1 ) 9 13.8 % 16.3 12.8 Capital о 15.2 Repurchased 28.6 million shares , or $ 2.5 billion , of common stock in third quarter 2026 Chairman and Chief Executive Officer Charlie Scharf commented , " Our third quarter results reflect broad - based growth , higher earnings , and stronger returns . Diluted earnings per share increased to $ 1.87 in the third quarter , up 13 % from a year ago . Our ROTCE4 increased from 14.7 % during the first nine months of 2025 to 16.2 % during the same period this year and 16.3 % in the third quarter . Both average loans and average deposits increased 11 % from a year ago . " " Wealth and Investment Management revenue grew 12 % versus a year ago , Commercial Banking grew 6 % , Consumer Banking and Lending grew 5 % , and Corporate and Investment Banking revenue increased 3 % . These increases were partially offset by lower revenue from our venture capital investments and lower lease income following the sale of our rail car leasing business in the first quarter , " Scharf added . " Key growth metrics across our businesses showed continued strength . In the quarter we had continued growth in consumer primary checking accounts , opened more than 660,000 new credit card accounts , and auto originations increased 15 % from a year ago . Wealth and Investment Management client assets grew 11 % , investment banking and markets fees from Commercial Banking clients grew 25 % , and within Corporate and Investment Banking , overall Banking revenue increased 8 % including M & A revenue increasing 30 % and both equity capital markets and investment grade underwriting fees increasing 33 % . While Markets revenue was relatively stable from a year ago , equities revenue grew 21 % , " Scharf continued . " Expenses declined from a year ago even though revenue - related expenses increased 15 % . Expense savings have funded much of the investments that are making the company stronger , improving our capabilities , and positioning us for continued future growth , " Scharf continued . " While economic uncertainty exists and consumer sentiment remains mixed , our data shows that our consumer and business customers are doing well . Consumers are spending more , loan delinquencies are low , and deposit and investment balances have grown . Businesses continue to have strong balance sheets and losses remain low . While higher interest rates , higher oil prices and persistent inflation create risks to the economy , strong positive forces such as the investment in Al infrastructure , high employment levels and consistent wage growth continue to outweigh the risks , " Scharf added . " I'm proud of the Wells Fargo team and we will continue to remain vigilant about risk as we build for the long term , " Scharf concluded . Endnotes are presented on page 9 .