Wells Fargo (WFC) Q2 2007

--the biggest bank on the U.S West Coast --Record revenue of $9.89 billion, up 13% from prior year, due to higher fess from credit cards and commercial loans --Record Q2 net income of $2.28 bil, up 9.1% from 2.09 last year --revenues from debit and credit cards gained 24% to $517 million and interest income rose 4.3% to $5.2 bil --NIM widened from 4.76% to 4.89%. It insulated itself from industrywide slide in lending margisn by getting ride of lower-interest mortgages and making new laonds at higher rates. --It tightened loan standards and shut a unit buying subprimemortgages from lenders. --Loans ----Business lending increased 12% and set the tone of the company total loans, which increased 11% to $332 bil. The sucess was probably because the company used servcies such as electronic payroll and bill-paying to attract clients ----Business loans main encompassed commercial (65%, $400 mil) and commercial real estate loans(20%). ----Consumer loand inlcude first mortgage (65%, $600 mil), junior lien mortage (20%)