More on Wells Fargo (WFC): Net interest margin of 3.91% is 2 bps greater than Q4 and 14 bps worse than 2011 Q1. Net charge-offs were $2.4B, $245M less than Q4, bringing the annualized rate to 1.25%, the lowest level since 2007. Reserve release of $400M accounted for about 10% of total income. The company sees continued but slower improvement in credit this year. Shares -2.1% premarket.