Wells Fargo & Co.'s third-quarter earnings surged 98% as results were boosted by the bank's acquisition of Wachovia, but credit-loss provisions and net charge-offs continued to rise.

Shares fell 2.3% to $29.82 in premarket trading despite results topping analysts' expectations. The stock is up 3.3%year-to-date and has nearly quadrupled from a 14-year low in March.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.