Oil Bust Takes Toll on Wells Fargo Profits as Loans Sour: Chart

The Numbers Don’t Lie: Wells Fargo Earnings

Wells Fargo & Co.’s energy loan losses rose in the second quarter as the oil bust claimed several of the bank’s clients, including Linn Energy LLC and Breitburn Energy Partners, according to data compiled by Bloomberg. While it’s a small portion of Wells Fargo’s business, energy losses have been a drag on profits. Net write-offs for oil and gas rose to $263 million in the second quarter, the bank said Friday.

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