San Francisco-based bank Wells Fargo reports second-quarterinsurance income dropped 7 percent over the previous year, butrose 5 percent on a quarter-to-quarter basis.

Wells Fargo says second-quarter net income was down $37million to $485 million. For the first six months, income isdown 9 percent to $948 million. Comparing the first three months tothe second quarter, insurance income is up $22 million.Compared to 2012's fourth quarter, income is up 23percent.

Officials did not discuss insurance income during theirconference call June 12. However, Chief Financial OfficerTimothy J. Sloan points out that all of its businesses “arecontinuing to grow and you can see not only this quarter, but overthe last year, that many of the businesses have been growing notonly as it relates to net interest income but also to non-interestincome.”

Company officials have attributed the decline in insurance revenue to lowercommodity prices in its crop insurance company—Rural CommunityInsurance Services—and the discontinuation of lender placedinsurance commissions. Wells Fargo has one of the nation's largestcommercial insurance brokerage firms, but the bank does notbreakout those numbers in its filings.

Wells Fargo bank reports second quarter income of $5.5 billion,up 19 percent on a year-over-year basis.