Sometimes the best information about companies comes from industry presentations. The comments made yesterday by the chief financial officer of Wells Fargo (NYSE:WFC) at the Barclays Global Financial Services Conference provides a case in point.
What follows are the 10 most astounding tidbits of information shared by CFO Timothy Sloan.
1. Wells Fargo has over 70 million customers and serves one in three U.S. households.
2. It has a retail store or an ATM within two miles of nearly one half of the population of the United States.
3. Over 80% of Wells Fargo's deposit-customer interactions are self-service.
4. One in 10 small businesses does business with Wells Fargo.
5. It is the largest auto lender in the country.
6. It is the largest residential mortgage originator and servicer, funding nearly one in four domestic mortgages in the second quarter. According to Inside Mortgage Finance, over the three months ended June 30, it originated a staggering $114 billion. That was more than double the runner-up, JPMorgan Chase (NYSE:JPM), which underwrote $52.7 billion worth.
7. It is the third largest full-service retail brokerage.
8. It has achieved 14 consecutive quarters of earnings growth. The last nine have been consecutive quarters of record earnings.
9. With over 9,000 stores and offices in all 50 states and over 12,000 ATMs, Wells Fargo has more stores and serves more communities than any other U.S. bank. By comparison, Bank of America (NYSE:BAC), the nation's second largest bank by assets, has 5,328 banking centers and 16,354 ATMs.
10. Over 22 million customers actively bank with Wells Fargo online, and over 10 million customers actively bank with it via mobile.