Wells Fargo & Company reported consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company's total interest income was $14,958 million compared to $14,058 million a year ago. Net interest income was $12,313 million compared to $12,402 million a year ago, driven primarily by a negative $183 million one-time adjustment related to leveraged leases due to the Tax Act, which reduced loan yields in the fourth quarter, partially offset by a modest net benefit from all other growth, repricing and variable items. Net interest income after provision for credit losses was $11,662 million compared to $11,597 million a year ago. Income before income tax expense was $4,599 million compared to $7,562 million a year ago. Net income was $6,151 million compared to $5,274 million a year ago. Net income applicable to common stock was $5,740 million compared to $4,872 million a year ago. Diluted earnings per common share were $1.16 compared to $0.96 a year ago. Book value per common share was $35.18 compared to $33.78 a year ago. Tangible book value per common share was $31.43 compared to $29.25 a year ago. Return on assets (ROA) was 1.26% compared to 1.08% a year ago. Return on equity (ROE) was 12.47% compared to 10.94% a year ago. Return on average tangible common equity (ROTCE) was 14.85% compared to 13.16% a year ago.

For the year, the company's total interest income was $58,909 million compared to $53,663 million a year ago. Net interest income was $49,557 million compared to $47,754 million a year ago. Net interest income after provision for credit losses was $47,029 million compared to $43,984 million a year ago. Income before income tax expense was $27,377 million compared to $32,120 million a year ago. Net income was $22,183 million compared to $21,938 million a year ago. Net income applicable to common stock was $20,554 million compared to $20,373 million a year ago. Diluted earnings per common share were $4.10 compared to $3.99 a year ago. Book value per common share was $37.44 compared to $35.18 a year ago. Tangible book value per common share was $31.43 compared to $29.25 a year ago. Return on assets (ROA) was 1.15% compared to 1.16% a year ago. Return on equity (ROE) was 11.35% compared to 11.49% a year ago. Return on average tangible common equity (ROTCE) was 13.55% compared to 13.85% a year ago.

The company also announced total net loan charge-offs were $751 million against $905 million for the same period a year ago.

The company currently expects its full year 2018 effective income tax rate to be approximately 19%.