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BRIEF-Wells Fargo CFO says net interest margin to decline in 3rd quarter

Sept 11 | Tue Sep 11, 2012 8:12am EDT

Sept 11 (Reuters) - Wells Fargo & Co : * CFO tim sloan speaking at investor conference * CFO: wells could see linked-quarter net interest margin decline in third

quarter similar to a year ago, around 17 basis points. * CFO: decline in net inerest margin stems from decline in variable income,

securities run-off, strong deposit inflows. * CFO: wells is "well positioned" to offset any decline in mortgage income with

diversity of other businesses. * CFO: a credit card acquisition could be "nicely accretive" to earnings "if

right one comes along."

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