trending Market Intelligence /marketintelligence/en/news-insights/trending/VTLA1vYLqX_GbnMvxA09fg2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Wells Fargo details FHLB advances, share repurchase activity

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity

Wells Fargo details FHLB advances, share repurchase activity

Wells Fargo &Co. offered some updates on its capital planning in the company's Form10-Q filed May 4.

The company noted that it plans to continue to return capitalvia share repurchases through the rest of the year after repurchasing 51.7 millioncommon shares in the first quarter. After the March share repurchases, the companycould repurchase roughly 375.3 million shares under current authorizations.

Also, Wells Fargo disclosed that in April it entered into a $750million forward repurchase contract with a private party. The deal is expected tosettle in the second quarter for roughly 15 million shares.

Separately, the company said that subsidiary secured $1.0 billionin advances from the Federal Home Loan Bank system in April. During the first quarter,the bank executed $12.5 billion of advances with the Federal Home Loan Bank of DesMoines, bringing the bank's outstanding FHLB advances to $49.6 billion at quarter-end.