Wells Fargo Q4 Earnings Report & My Review For Future Deposit Rate Insights

From USA Today

Wells Fargo said Tuesday that its income rose 20% in the fourth quarter from a year ago as its lending business improved, deposits grew and its mortgage business steadied.

Here's the link to Wells Fargo's press release. Based on the table on page 2, average core deposits grew 3.36% in Q4 and 8.82% for the year. Average loans also grew, but not by as much: 1.87% for Q4 and 1.98% for the year. So most of the loan growth was in Q4, and a sizable amount of the deposit growth was also in Q4. For upward deposit rate pressures, we want to see large loan growth and shrinking deposits. I think we still have a way to go before we see that.