Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 225

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 225
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.S. Bancorp |     | 69 |

Fair Value Option

The following table summarizes the differences between the aggregate fair value carrying amount of the assets and liabilities for which the fair value option has been elected and the aggregate remaining contractual principal balance outstanding:

|                       |     |   | June 30, 2025 |                            |   |       |                                   |   |     |                                                                |   | December 31, 2024 |                            |   |       |                                   |   |     |                                                                |
|:----------------------|:----|:--|--------------:|:---------------------------|:--|------:|:----------------------------------|:--|----:|:---------------------------------------------------------------|:--|------------------:|:---------------------------|:--|------:|:----------------------------------|:--|----:|:---------------------------------------------------------------|
| (Dollars in Millions) |     |   |               | Fair Value Carrying Amount |   |       | Contractual Principal Outstanding |   |     | Carrying Amount Over (Under) Contractual Principal Outstanding |   |                   | Fair Value Carrying Amount |   |       | Contractual Principal Outstanding |   |     | Carrying Amount Over (Under) Contractual Principal Outstanding |
| Total loans(a)        |     | $ |         2,285 |                            | $ | 2,262 |                                   | $ |  23 |                                                                | $ |             2,251 |                            | $ | 2,243 |                                   | $ |   8 |                                                                |
| Time deposits         |     |   |         7,305 |                            |   | 7,314 |                                   |   |  -9 |                                                                |   |             5,754 |                            |   | 5,762 |                                   |   |  -8 |                                                                |
| Long-term debt        |     |   |         1,152 |                            |   | 1,169 |                                   |   | -17 |                                                                |   |               391 |                            |   |   409 |                                   |   | -18 |                                                                |

(a) I ncludes nonaccrual loans of $ 1million carried at fair value with contractual principal outstanding of $ 1million at June 30, 2025 and $ 1million carried at fair value with contractual principal outstanding of $ 1million at December 31, 2024. Includes loans 90 days or more past due of $ 3million carried