FamousFaces ofNew YorkLife

The Company You Keep®

The Famous Faces of New York LifeFor 160 years, New York Life has served thefinancial needs of Americans from every walkof life—from secretaries to CEOs, scienceteachers to astronauts, young ballplayers toHall of Famers. Our policyholders make up thebackbone of America—people who put in anhonest day’s work, care for their families, andtake part in their community. Most of ourclients will never appear on the cover of amagazine, but on occasion, we have insuredthe lives of some prominent individuals—the“Famous Faces of New York Life.”

Baseball LegendsThe immortal “Sultanof Swat,” Babe Ruthrevolutionized thegame of baseball.When asked why hedeserved to be paidmore than HerbertHoover, the Presidentof the United States(and fellow New YorkLife policyholder),Ruth replied, “I had a

better year than him.” Ruth teamed with “TheIron Horse,” Lou Gehrig, to form the heart ofthe New York Yankees’ “Murderers’ Row.”Jackie Robinson, a genuine American hero,broke baseball’s color barrier when he joinedthe Brooklyn Dodgers in 1947.

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Captains of IndustryAt first, Harvey Firestone was a small bicycletire manufacturer. However, the introduction ofHenry Ford’s Model T and the ensuing automo-bile boom turned his company into one of thecountry’s largest. Walter Chrysler founded theauto company that bears his name and alsocommissioned New York’s elegant art decoskyscraper, the Chrysler Building. J.C. Penneystarted as a general store clerk and eventuallybuilt his department store into one of America’slargest retail chains. A loan from an insurancepolicy helped finance Mr. Penney’s dream.Although Henry Kaiser owned more than 100companies during his lifetime, he is bestknown for Kaiser Aluminum.

Giants of Journalism“Go west young man,” influential publisherHorace Greeley exhorted the readers of hisnewspapers. Born in Manhattan, Kansas, jour-nalist and author Damon Runyon becamebest known for his color-ful tales of Manhattan,New York. Irreverent,irascible, and alwayscontroversial, WalterWinchell was one ofthe most popularjournalists and radiopersonalities of hisday. Henry Luce wasthe co-founder andeditor-in-chief of Timemagazine.

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From the World of MusicWhite Christmas and God Bless America areamong the many timeless American classics ofcomposer Irving Berlin. Lorenz Hart teamedwith Richard Rodgers to create some of themost memorable Broadway musicals of alltime. Jerome Kern was a prolific composerwhose best loved work is the musicalShowboat. Mario Lanza, the virtuoso tenor,was often called “The American Caruso.”Smooth crooner Nat “King” Cole was one ofthe most popular song stylists of all time. Theinnovative saxophone style of Stan Getz madehim one of jazz’s most influential artists. As the“King of Champagne Music,” Lawrence Welk’sreign lasted for decades. Each New Year’s Eve,the nation raised a glass of champagne to thesounds of Guy Lombardo and his RoyalCanadian Orchestra.

Stars of Stage and ScreenProducer/director Cecil B. de Mille was bestknown for his grand epics, including The TenCommandments. Academy Award winningactor Spencer Tracy was one of the country’sbest-loved screen actors. His Inherit the Windco-star, Frederic March, was also a New YorkLife policyholder. Paul Muni, best known forhis portrayal in Scarface, was a versatile lead-ing man and character actor. Funnyman BudAbbott, half of the legendary comedy teamof Abbott and Costello, created the classic“Who’s on First?” routine. Best known as theCowardly Lion in The Wizard of Oz, Bert Lahralso starred in the Broadway production ofSamuel Beckett’s Waiting for Godot. RobertYoung, the small screen star most recognizableas the title character in the sitcom Father

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Knows Best certainly did know best; he, too,was a New York Life policyholder. His charac-ter was even based on his New York Lifeagent––the legendary Frank Nathan.

History MakersOne of the originalMercury astronauts, Virgil(Gus) Grissom, waskilled in a launchpad firein 1967. A tireless workerfor the deaf and blind,Helen Keller’s remark-able story was captured inthe play The MiracleWorker. Suffragette SusanB. Anthony pleaded her case for women’srights. Brothers Charles and William Mayo,with their father, founded the famous MayoClinic.

Ten U.S. Presidents Who Have PlacedTheir Trust in New York LifeNew York Life is proud to have insured manyAmerican Presidents. They served our country,and when it came to serving the financial needsof their families, they chose New York Life.

James Garfield A fiery orator, sailor, soldier,educator, and politician, James Garfield wasassassinated four months after his inauguration.

Chester A. Arthur The twenty-first Presidenthelped establish the modern civil service system.

Benjamin Harrison An unusually hard workerwith an attentiveness to detail, Harrison was anenthusiastic expansionist who endorsed theannexation of Hawaii.

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William McKinley An extremely warm andcharming individual, William McKinley usheredthe United States into an era that marked itsemergence as a world power.

Theodore Roosevelt “Life insurance increasesthe stability of the business world [and] raisesits moral tone.”

Warren Harding “I have always found them(life insurance policies) to be comforting pos-sessions, and if I had my life to live over, Iwould seek to take more rather than less.”

Calvin Coolidge “It is established that the pro-tection of one’s family, or those near to him, isthe one thing most to be desired, and there isno medium of protection that is better than lifeinsurance.”

Herbert Hoover “Insurance offers men andwomen the opportunity to pool the financialeffects of chance misfortunes.”

Franklin D. Roosevelt “To carry adequate lifeinsurance is a moral obligation incumbentupon the great majority of citizens.”

Richard Nixon “The applicant is a capable andhard working boy.”—Agent’s reply when askedto comment on a 22-year-old student namedRichard Nixon seeking life insurance.

New York Life: The Company You Keep®

Since 1845, New York Life Insurance Companyhas been providing quality insurance productsto individuals, families, and businesses. For 160years, we have conducted our business aroundthe central values of financial strength, integrity,

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and humanity—andhave remained com-mitted to being amutual company,owned solely by ourpolicyholders. Thismeans that, regardlessof the economy, ourfocus is fixed on justone objective: meet-ing the needs of ourcustomers, now andfar into the future.Talk to your NewYork Life agent todayand find out why weare The Company You Keep®.

How Many Famous New York LifePolicyholders Can You Name?1. This Hall of Fame pitcher led the St. Louis

Cardinals to three pennants and two WorldSeries championships.

2. He was Elizabeth Taylor’s third husband.

3. She won a gold medal for figure skatingand later became a film star.

4. Born Erik Weisz, this man regularlyescaped from handcuffs, straitjackets, andsubmerged trunks.

5. Known as “The Little Flower,” this colorfulpolitician was a three-term New York Citymayor.

6. “White Christmas” was the signature songof this singer/actor.

7. A Zeigfield Follies star and early movieactor, his real name was Edward IsraelIskowitz.

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8. His batting average in 1924 was an aston-ishing .424; this Hall of Famer had a careeraverage of .358, second highest in historyto Ty Cobb’s .367.

9. This stage and screen comedienne’s lifewas made into the play and movie FunnyGirl.

10. This football pioneer coached theUniversity of Chicago team from 1892 to1932.

11. This comedian’s trademark was playing theviolin between jokes.

12. This legendary actor gave a classic per-formance in High Noon and played NewYork Life policyholder Lou Gehrig in Prideof the Yankees.

13. He was a Lt. Colonel who was defeated atthe Battle of Little Bighorn in 1876.

New York Life Insurance Company

New York Life Insurance and AnnuityCorporation (A Delaware Corporation)

51 Madison AvenueNew York, NY 10010

www.newyorklife.com

The Company You Keep®

Answers to the New York Life Quiz:1.Dizzy Dean 2.Michael Todd 3.Sonja Hennie 4.Harry Houdini 5.Fiorello La Guardia 6.Bing Crosby 7.Eddie Cantor 8.Rogers Hornsby9.Fannie Brice 10.Amos Alonzo Stagg 11.Jack Benny 12.Gary Cooper13.George A. Custer

Answers to “How Many Famous New York Life Policyholders Can YouName?”

10 Things You May Not Know About John D. RockefellerBy Christopher Klein

On July 8, 1839, John D. Rockefeller Sr. was born in a simple wood frame house in thequiet hamlet of Richford, New York. Rockefeller would rise from his humble origins tobecome the richest man in the world. On the 175th anniversary of his birth, explore 10surprising facts about the business magnate and philanthropist.

1. His father was a con artist and a bigamist.The tycoon’s father, William Avery Rockefeller, was a traveling snakeoil salesman who posed as a deafmutepeddler and hawked miracle drugs and herbal remedies. The smoothtalking huckster dubbed “Devil Bill”alternately fathered children, including the future industrialist, with his wife and mistress, the couple’s liveinhousekeeper. The itinerant William Rockefeller also lived a double life posing as an eyeandear specialistnamed Dr. William Levingston, and in 1855 he secretly married another woman.

2. Every year, Rockefeller celebrated the anniversary of landing his first job.On September 26, 1855, a Cleveland merchant company, Hewitt and Tuttle, hired the teenaged Rockefeller asan assistant bookkeeper. From that year forward, the corporate tycoon celebrated “job day” every September 26to commemorate his entrance into the business world, and he considered the date more important than hisbirthday. “All my future seemed to hinge on that day,” he reminisced later in his life, “and I often tremble when Iask myself the question: ‘What if I had not got the job?’”

3. He hired substitute soldiers to avoid Civil War combat.Although he was a fervent abolitionist, Rockefeller did not take up arms when the Civil War broke out in 1861.While his youngest brother was wounded at Chancellorsville and Cedar Mountain, Rockefeller received anexemption for being the primary means of supporting his family and hired substitute soldiers in his stead, acommon practice during the war. “I wanted to go in the army and do my part,” he said. “But it was simply out ofthe question. There was no one to take my place. We were in a new business, and if I had not stayed it musthave stopped—and with so many dependent on it.” Rockefeller’s commodity business profited handsomely fromthe Civil War and provided the necessary capital for his entrance into the oil business.

10 Things You May Not Know About John D. Rockefeller — History in the Headlines

4. Cleveland was the first epicenter of his oil empire.Shortly after the discovery of petroleum in Titusville, Pennsylvania, the 24yearold Rockefeller entered thefledgling oil business in 1863 by investing in a Cleveland refinery. In 1870, he formed the Standard Oil Companyof Ohio along with his younger brother William, Henry Flagler and additional investors. Through secret allianceswith railroads, accumulating segments of the supply chain to achieve economies of scale, buying out andintimidating rivals and serving the growing demand for quality kerosene, Standard Oil eventually controlled 90percent of the refining capacity of the United States. In the 1880s, Rockefeller moved Standard Oil’sheadquarters to New York City.

5. Rockefeller donated more than $500 million to various philanthropic causes. Raised by a pious mother, Rockefeller tithed 10 percent of his earnings to his church from his very firstpaycheck. After retiring from Standard Oil in 1897, he stepped up his philanthropy and donated more than half abillion dollars to educational, religious and scientific causes. In 1913, America’s first billionaire endowed theRockefeller Foundation, which had the ambitious goal “to promote the wellbeing of mankind throughout theworld.” The foundation contributed to achievements such as development of a yellow fever vaccine and thesuccessful eradication of hookworm disease in the United States.

6. Spelman College bears the maiden name of Rockefeller’s wife. In addition to giving millions to help found the University of Chicago and Rockefeller University, the industrialistin 1882 began to donate money to the Atlanta Baptist Female Seminary. Two years later, the AfricanAmericanwomen’s school changed its name to Spelman Seminary in honor of his wife, Laura, and her parents, HarveyBuel and Lucy Henry Spelman, who were longtime abolitionists. In 1924, the institution was renamed SpelmanCollege.

7. The courtordered breakup of Standard Oil made Rockefeller hundreds of millions of dollars. After years of litigation, the U.S. Supreme Court ruled in 1911 that Standard Oil must be dismantled because itviolated federal antitrust laws. The monopoly was broken up into 34 separate entities that included companiesthat would become ExxonMobil, Conoco, Chevron and Amoco. The court order turned out to be a financialwindfall for Rockefeller, who still held a quarter of Standard Oil’s stock after his retirement. The individual piecesof the company were worth more than the whole, and as shares of the individual companies doubled and tripledin value in their early years, Rockefeller became the country’s first billionaire with a fortune worth nearly 2percent of the entire American economy.

8. Winston Churchill would have written Rockefeller’s biography—if his price hadn’t been so high. In addition to being a gifted orator, Churchill was a masterful writer who penned 42 books and earned the 1953Nobel Prize for Literature. During the 1930s, the Rockefeller family approached the future British prime ministerto write an authorized biography of their patriarch, but Churchill’s proposed advance of $250,000 was too richeven for the deeppocketed Rockefellers, who instead turned to Columbia University historian Allan Nevins.

9. Rockefeller suffered from alopecia and lost all hair from his body and head.Beginning in his 40s, Rockefeller lost all the hair from his head, his mustache and his body. The hair never grewback, and in the early 1900s the tycoon began to wear rotating wigs of various lengths to give the impression ofhis hair growing and being shorn.

10. Rockefeller lived so long that his life insurance company had to pay him $5 million. Although he didn’t celebrate birthdays with the same gusto as “job days,” Rockefeller certainly experiencedmany of them. His life spanned from the presidency of Martin Van Buren to that of Franklin D. Roosevelt beforehis death at age 97 on May 23, 1937. When Rockefeller turned 96, his insurance company was required to payhim the $5 million face value of his policy.

Categories: John D. Rockefeller

Slideshow: 6 famous brands started or saved by life insurance

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Slideshow: 6 famous brands started orsaved by life insurance

ThinkAdvisor

If not for life insurance, Disneyland mighthave existed only in Walt’s imagination.Stanford University might have been a short-lived tribute to a son who died young. JamesCash Penney’s personal depression duringthe Great Depression might have shutteredthe J.C. Penney chain. McDonald’s mighthave only served a few hundred thousand.Today’s home chefs might not be gettingpampered.

Check out this slide show to learn how lifeinsurance played a key role in either thecreation or survival of some iconic American

institutions.

Next: Disneyland

Slideshow: 6 famous brands started or saved by life insurance

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DISNEYLAND

Walt Disney Studio was founded in 1923 in Los Angeles by Walt Disney (1901-1966) and hisbrother Roy. After a distributor essentially stole one of his early cartoon characters and hisanimators, Walt made sure he owned everything he made after that. Mickey Mouse debuted in1928 and became an immediate sensation as the star of the first cartoon with synchronizedsound.

His animated features and, eventually, television programs achieved steady success, and by the1950s, Walt became intrigued with creating an amusement park where parents and childrencould have a good time together. At the time, the only amusement parks in the country weredilapidated places with seedy characters, but Disney dreamed of an immaculately clean, familyoriented park with imaginative attractions.

After failing in the pursuit of traditional means of financing to build what would becomeDisneyland, Walt decided to provide his own financing. A large part of this came to be bycollaterally borrowing money from his cash value life insurance. Disneyland opened in 1955 andhosted more than 3.5 million visitors in its first year. It became an immediate, resoundingsuccess.

Disney is quoted as saying that money was the biggest problem he faced throughout his life,and that was certainly the case with Disneyland. “It takes a lot of money to make these dreamscome true. From the very start it was a problem. Getting the money to open Disneyland. About$17 million it took. And we had everything mortgaged, including my personal insurance… Wedid it (Disneyland), in the knowledge that most of the people I talked to thought it would be afinancial disaster — closed and forgotten within the first year.”

Next: McDonald’s

Slideshow: 6 famous brands started or saved by life insurance

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MCDONALD’S

Working as a milkshake machine distributor in 1954, Ray Kroc (1902-1984) took notice of asuccessful hamburger stand in San Bernardino, Calif., which he called on, intending to sellbrothers Dick and Mac McDonald more Multimixers. He learned they were interested in anationwide franchising agent. Kroc, 52 at the time, decided his future was in hamburgers andpartnered with the brothers. He opened his first McDonald’s in Des Plaines, Ill., in 1955 andbought out the McDonald brothers in 1961.

Kroc did not take a salary during his first 8 years, and to overcome constant cash-flow problems,Kroc borrowed money from two cash value life insurance policies (and also his bank) to helpcover the salaries of key employees. He also used some of the money to create an advertisingcampaign around emerging mascot Ronald McDonald.

Using a progressive franchising arrangement and striving for consistency and standardizationthroughout the chain, McDonald’s grew to more than 700 restaurants within 10 years. Today,McDonald’s serves more than 50 million people each day through more than 30,000 locations in119 countries.

Next: Stanford

Slideshow: 6 famous brands started or saved by life insurance

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STANFORD UNIVERSITY

Pacific Mutual Life (now Pacific Life) ceremoniously issued its first policy to Leland Stanford,the company's first president, in 1868. After his son, Leland Jr., died of Typhoid Fever in 1884 atthe age of 15, the former California governor and U.S. senator and his wife, Jane L. Stanford,determined that because they could no longer do anything for their own child, they would usetheir wealth to do something for other people’s children. With a strong belief in the importance ofa practical education for men and women that would prepare them to be productive andsuccessful, six years of planning led them to establish Leland Stanford Jr. University in PaloAlto in 1891, with a pioneer class of 555 students (including Herbert Hoover).

Following Leland’s death in 1893, the fledgling university’s financial support became uncertain,to the point where Jane tried unsuccessfully to sell her treasured jewel collection in 1897. Intenton preserving the university and avoiding a “temporary” closure, she used her husband's lifeinsurance policy proceeds to help fund operations and pay faculty, allowing Stanford Universityto weather a dangerous six-year period of financial distress.

Next: J.C. Penney

Slideshow: 6 famous brands started or saved by life insurance

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J.C. PENNEY

In 1898, James Cash Penney was working in a Golden Rule Store, part of a small chain of drygoods stores. He was such an enterprising worker that the pair of owners took him under theirwing, offering him a one-third partnership in a new store they were opening in Kemmerer, Wyo.Penney participated in opening two more stores, and when the original partners dissolved theirpartnership in 1907, Penney purchased full interest in all three stores. By 1912, he operated 34stores throughout the Rocky Mountain region. In 1913, he moved the company to Salt Lake Cityand incorporated it as the J.C. Penney Company. By 1929, there were 1,400 stores across thecountry.

The stock market crash of 1929 and the ensuing Great Depression devastated the stores andPenney’s personal wealth. The financial setbacks also took a toll on his health — physical andmental — but he was able to borrow against his cash value life insurance policies to help thecompany meet its payroll and day-to-day expenses. This allowed the company to stay afloat andeventually rebound.

Penney became a born-again Christian and remained as chairman of the company's board until1946. He served as honorary chairman until his death in 1971. Today, the company’s 1,100stores take in revenues of $18 billion a year, and the company was able to pay new CEORonald Johnson, the former Apple exec who joined the company last November, $53.3 millionin 2011.

Next: Pampered Chef

Slideshow: 6 famous brands started or saved by life insurance

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THE PAMPERED CHEF

Using $3,000 she borrowed from a life insurance policy, home economist Doris Christopherstarted The Pampered Chef in her suburban Chicago home in 1980.

All her time working with homemakers convinced Christopher that women needed qualitytimesaving tools designed to help make cooking quick and easy. She had seen the success ofTupperware’s business model and developed her own detailed multi-level marketing businessplan. Using the life insurance money, she purchased some basic inventory and was on her way.

By 2002, the company had grown into a $700 million operation that was acquired by WarrenBuffett’s Berkshire Hathaway Corporation for $1.5 billion. Today, the company boasts 12 millioncustomers.

Next: Foster Farms

Slideshow: 6 famous brands started or saved by life insurance

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FOSTER FARMS

In 1939, a young couple named Max and Verda Foster started Foster Farms by borrowing$1,000 against a life insurance policy. They invested in an 80-acre farm near Modesto, Calif.,and began raising turkeys and, eventually, chickens.

By the 1960s, the company had outgrown the original farm and moved its corporateheadquarters to the small California Central Valley town of Livingston, where it still resides.Today Max and Verda's grandson, Ron Foster, is the CEO of the family run business. FosterFarms is now more than 10,000 employees strong, with operations in California, Oregon,Washington, Colorado, Arkansas and Alabama, and has a line of products that are sold globally.

Foster Farms specializes in fresh, all-natural chicken products free of preservatives, additives orinjected sodium enhancers.

Check out more interesting facts about the life insurance industry by viewing our History of LifeInsurance Feature and Timeline.

7/18/2018

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JPMorgan Chase Bank, National Association1111 Polaris Parkway

Columbus, OH 43240FDIC Certificate #: 628 Bank Charter Class: N

Definition Dollar figures in thousandsJPMorgan Chase Bank, National

Association Columbus, OH

March 31, 2018

JPMorgan Chase Bank,National Association

Columbus, OH March 31, 2017

Assets and Liabilities1 Total employees (full-time equivalent) 193,480 187,8072 Total assets 2,198,296,000 2,138,002,0003 Cash and due from depository institutions 445,217,000 482,562,0004 Interest-bearing balances 423,406,000 463,429,0005 Securities 235,903,000 277,800,0006 Federal funds sold & reverse repurchase agreements 240,266,000 165,681,0007 Net loans & leases 831,203,000 789,948,0008 Loan loss allowance 9,952,000 10,347,0009 Trading account assets 270,574,000 267,659,000

10 Bank premises and fixed assets 11,299,000 11,570,00011 Other real estate owned 405,000 478,00012 Goodwill and other intangibles 33,719,000 33,371,00013 All other assets 129,710,000 108,933,00014 Total liabilities and capital 2,198,296,000 2,138,002,00015 Total liabilities 1,983,327,000 1,930,407,00016 Total deposits 1,559,153,000 1,519,501,00017 Interest-bearing deposits 1,140,199,000 1,097,958,00018 Deposits held in domestic offices 1,288,758,000 1,265,873,00019 % insured 37.08% 36.17%20 Federal funds purchased & repurchase agreements 104,873,000 99,352,00021 Trading liabilities 102,635,000 107,050,00022 Other borrowed funds 119,161,000 121,943,00023 Subordinated debt 304,000 4,111,00024 All other liabilities 97,201,000 78,450,00025 Total equity capital 214,969,000 207,595,00026 Total bank equity capital 214,805,000 207,332,00027 Perpetual preferred stock 0 028 Common stock 1,785,000 1,785,000

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29 Surplus 99,132,000 94,125,00030 Undivided profits 113,888,000 111,422,00031 Noncontrolling interests in consolidated subsidiaries 164,000 263,000

Memoranda:32 Noncurrent loans and leases 12,016,000 13,547,00033 Noncurrent loans that are wholly or partially guaranteed by the U.S. government 4,030,000 4,853,00034 Income earned, not collected on loans 5,063,000 4,267,00035 Earning assets 1,945,606,000 1,907,115,00036 Long-term assets (5+ years) 440,809,000 452,207,00037 Average Assets, year-to-date 2,169,537,000 2,110,402,50038 Average Assets, quarterly 2,169,537,000 2,110,402,50039 Total risk weighted assets 1,382,770,270 1,308,770,04140 Adjusted average assets for leverage capital purposes 2,136,237,000 2,081,893,00041 Life insurance assets 11,209,000 10,968,00042 General account life insurance assets 5,859,000 5,709,00043 Separate account life insurance assets 5,350,000 5,259,00044 Hybrid life insurance assets 0 045 Volatile liabilities 517,481,000 486,690,00046 Insider loans 2,042,000 1,357,00047 FHLB advances 44,664,000 54,516,00048 Loans and leases held for sale 5,905,000 11,998,00049 Unused loan commitments 521,622,000 478,453,00050 Tier 1 (core) risk-based capital 187,903,000 181,576,00051 Tier 2 risk-based capital 11,368,000 11,896,00052 Total unused commitments 521,622,000 478,453,00053 Derivatives 56,147,808,000 49,679,044,000

Total assets and liabilities in foreign offices Restructured Loans and leases Past due and nonaccrual assets Fiduciary and related services Carrying amount of assets covered by FDIC loss-share agreements

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Bank of America, National Association100 North Tryon St

Charlotte, NC 28202FDIC Certificate #: 3510 Bank Charter Class: N

Definition Dollar figures in thousandsBank of America, National

Association Charlotte, NC

March 31, 2018

Bank of America, NationalAssociation Charlotte, NC

March 31, 2017 Assets and Liabilities

1 Total employees (full-time equivalent) 141,012 145,4362 Total assets 1,765,242,000 1,707,215,0003 Cash and due from depository institutions 189,958,000 150,879,0004 Interest-bearing balances 168,342,000 127,456,0005 Securities 409,118,000 408,311,0006 Federal funds sold & reverse repurchase agreements 26,263,000 27,154,0007 Net loans & leases 911,181,000 884,623,0008 Loan loss allowance 10,109,000 10,894,0009 Trading account assets 83,475,000 76,708,000

10 Bank premises and fixed assets 8,878,000 8,796,00011 Other real estate owned 321,000 345,00012 Goodwill and other intangibles 59,470,000 60,049,00013 All other assets 76,578,000 90,350,00014 Total liabilities and capital 1,765,242,000 1,707,215,00015 Total liabilities 1,559,529,000 1,502,146,00016 Total deposits 1,410,412,000 1,348,031,00017 Interest-bearing deposits 926,903,000 873,432,00018 Deposits held in domestic offices 1,324,768,000 1,273,468,00019 % insured 39.81% 40.38%20 Federal funds purchased & repurchase agreements 30,347,000 22,884,00021 Trading liabilities 35,499,000 33,508,00022 Other borrowed funds 57,446,000 64,764,00023 Subordinated debt 1,627,000 2,986,00024 All other liabilities 24,198,000 29,973,00025 Total equity capital 205,713,000 205,069,00026 Total bank equity capital 205,704,000 205,059,00027 Perpetual preferred stock 0 028 Common stock 3,020,000 3,020,000

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29 Surplus 173,199,000 170,690,00030 Undivided profits 29,485,000 31,349,00031 Noncontrolling interests in consolidated subsidiaries 9,000 10,000

Memoranda:32 Noncurrent loans and leases 10,761,000 13,388,00033 Noncurrent loans that are wholly or partially guaranteed by the U.S. government 3,236,000 4,730,00034 Income earned, not collected on loans 4,059,000 3,699,00035 Earning assets 1,569,260,000 1,508,605,00036 Long-term assets (5+ years) 554,160,000 538,179,00037 Average Assets, year-to-date 1,758,383,000 1,692,352,50038 Average Assets, quarterly 1,758,383,000 1,692,352,50039 Total risk weighted assets 1,205,875,000 1,174,473,00040 Adjusted average assets for leverage capital purposes 1,683,155,000 1,623,153,00041 Life insurance assets 22,267,000 21,601,00042 General account life insurance assets 3,046,000 2,828,00043 Separate account life insurance assets 19,221,000 18,773,00044 Hybrid life insurance assets 0 045 Volatile liabilities 205,414,000 195,989,00046 Insider loans 13,000 22,00047 FHLB advances 28,640,000 27,659,00048 Loans and leases held for sale 8,886,000 14,395,00049 Unused loan commitments 823,728,000 815,316,00050 Tier 1 (core) risk-based capital 147,645,000 147,808,00051 Tier 2 risk-based capital 12,513,000 13,567,00052 Total unused commitments 823,728,000 815,316,00053 Derivatives 21,593,895,000 22,720,669,000

Total assets and liabilities in foreign offices Restructured Loans and leases Past due and nonaccrual assets Fiduciary and related services Carrying amount of assets covered by FDIC loss-share agreements

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Wells Fargo Bank, National Association101 N. Phillips Avenue

Sioux Falls, SD 57104FDIC Certificate #: 3511 Bank Charter Class: N

Definition Dollar figures in thousandsWells Fargo Bank, National

Association Sioux Falls, SD

March 31, 2018

Wells Fargo Bank, NationalAssociation

Sioux Falls, SD March 31, 2017

Assets and Liabilities1 Total employees (full-time equivalent) 236,181 239,8362 Total assets 1,716,532,000 1,749,176,0003 Cash and due from depository institutions 201,546,000 246,435,0004 Interest-bearing balances 184,177,000 227,559,0005 Securities 397,168,000 386,174,0006 Federal funds sold & reverse repurchase agreements 33,611,000 27,281,0007 Net loans & leases 919,532,000 920,153,0008 Loan loss allowance 9,937,000 10,285,0009 Trading account assets 47,470,000 45,041,000

10 Bank premises and fixed assets 8,067,000 7,728,00011 Other real estate owned 564,000 845,00012 Goodwill and other intangibles 40,439,000 39,906,00013 All other assets 68,135,000 75,613,00014 Total liabilities and capital 1,716,532,000 1,749,176,00015 Total liabilities 1,552,301,000 1,592,030,00016 Total deposits 1,357,716,000 1,367,216,00017 Interest-bearing deposits 937,418,000 958,217,00018 Deposits held in domestic offices 1,300,220,000 1,245,096,00019 % insured 52.36% 48.76%20 Federal funds purchased & repurchase agreements 15,004,000 16,154,00021 Trading liabilities 10,762,000 13,575,00022 Other borrowed funds 125,409,000 153,308,00023 Subordinated debt 11,864,000 13,199,00024 All other liabilities 31,546,000 28,578,00025 Total equity capital 164,231,000 157,146,00026 Total bank equity capital 163,876,000 156,750,00027 Perpetual preferred stock 0 028 Common stock 519,000 519,000

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29 Surplus 112,560,000 106,707,00030 Undivided profits 50,797,000 49,524,00031 Noncontrolling interests in consolidated subsidiaries 355,000 396,000

Memoranda:32 Noncurrent loans and leases 18,503,000 20,846,00033 Noncurrent loans that are wholly or partially guaranteed by the U.S. government 10,285,000 10,076,00034 Income earned, not collected on loans 5,288,000 4,937,00035 Earning assets 1,571,145,000 1,595,137,00036 Long-term assets (5+ years) 585,630,000 543,108,00037 Average Assets, year-to-date 1,731,943,000 1,738,205,50038 Average Assets, quarterly 1,731,943,000 1,738,205,50039 Total risk weighted assets 1,185,857,800 1,123,240,36040 Adjusted average assets for leverage capital purposes 1,689,250,000 1,705,841,00041 Life insurance assets 18,537,000 18,337,00042 General account life insurance assets 5,210,000 5,103,00043 Separate account life insurance assets 12,727,000 12,645,00044 Hybrid life insurance assets 600,000 589,00045 Volatile liabilities 174,680,000 220,924,00046 Insider loans 158,000 5,737,00047 FHLB advances 54,834,000 71,649,00048 Loans and leases held for sale 8,236,000 13,728,00049 Unused loan commitments 590,523,000 530,330,00050 Tier 1 (core) risk-based capital 141,049,000 133,362,00051 Tier 2 risk-based capital 22,210,000 13,645,00052 Total unused commitments 590,523,000 530,330,00053 Derivatives 8,549,476,000 8,447,979,000

Total assets and liabilities in foreign offices Restructured Loans and leases Past due and nonaccrual assets Fiduciary and related services Carrying amount of assets covered by FDIC loss-share agreements