8-KEarnings & ResultsExhibits & Filings

WELLS FARGO & COMPANY/MN 8-K Report, Financial Results (Oct 11, 2013)

Filed October 11, 2013For Securities:WFCWFC-PDWFC-PCWFC-PYWFC-PAWFC-PLWFCNPWFC-PZ

Summary

Wells Fargo & Company (WFC) filed an 8-K on October 11, 2013, to report its financial results for the third quarter and the first nine months of 2013. This filing primarily serves to announce the release of their earnings press release and a supplementary financial package. Investors should note that the press release, included as Exhibit 99.1, is considered 'filed' with the SEC, meaning it is subject to the liabilities and protections of Section 18 of the Securities Exchange Act of 1934. The Quarterly Supplement (Exhibit 99.2), while furnishing additional historical and forward-looking information, is not considered 'filed' under Section 18 and is therefore subject to different reporting standards. The company also announced an upcoming conference call to discuss these results.

Key Highlights

  • 1Wells Fargo reported its financial results for the third quarter and nine months ended September 30, 2013.
  • 2The company issued a press release detailing its operations and financial condition.
  • 3A supplementary financial package, the 3Q13 Quarterly Supplement, was also made available.
  • 4The press release (Exhibit 99.1) is officially 'filed' with the SEC and subject to Section 18 liability.
  • 5The Quarterly Supplement (Exhibit 99.2) is 'furnished' and not subject to Section 18, providing additional context but with different legal implications.
  • 6A conference call and webcast were scheduled to discuss the reported results and related matters.

Frequently Asked Questions

This 8-K filing announces Wells Fargo's financial results for the third quarter and the first nine months of 2013. It includes the release of their earnings press release and a supplementary financial package.

Exhibit 99.1 is the press release detailing the company's results and is considered 'filed' with the SEC under Section 18 of the Securities Exchange Act of 1934. Exhibit 99.2 is the Quarterly Supplement, which provides additional information but is 'furnished' and not subject to Section 18, meaning it has different legal implications regarding accuracy and liability.

The detailed financial results are primarily found in the press release (Exhibit 99.1) and the Quarterly Supplement (Exhibit 99.2) which are attached to this 8-K filing. Wells Fargo also hosted a conference call to discuss these results.

Information that is 'filed' (like the press release in Exhibit 99.1) is subject to the strict liability provisions of Section 18 of the Securities Exchange Act of 1934, meaning issuers can be held liable for false or misleading statements. Information that is 'furnished' (like the Quarterly Supplement in Exhibit 99.2) is not subject to Section 18, offering the issuer a degree of protection from liability under that specific section, though it may still be subject to other SEC rules.