Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 25

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 25
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7 March 31, 20261.5 1.9 

(a)Reflects quarterly average of forecasted reported United States unemployment rate. 

(b)Reflects year-over-year growth rates. 

U.S. Bancorp17

TABLE 8Summary of Allowance for Credit Losses

Three Months EndedMarch 31(Dollars in Millions)20252024Balance at beginning of period$7,925 $7,839 Charge-OffsCommercialCommercial180 129 Lease financing7 10 Total commercial187 139 Commercial real estateCommercial mortgages24 28 Construction and development1 6 Total commercial real estate25 34 Residential mortgages4 4 Credit card386 337 Other retailRetail leasing17 8 Home equity and second mortgages2 4 Other69 69 Total other retail88 81 Total charge-offs690 595 RecoveriesCommercialCommercial21 20 Lease financing3 3 Total commercial24 23 Commercial real estateCommercial mortgages29 13 Construction and development— — Total commercial real estate29 13 Residential mortgages4 4 Credit card61 41 Other retailRetail leasing4 3 Home equity and second mortgages3 4 Other18 19 Total other retail25 26 Total recoveries143 107 Net Charge-OffsCommercialCommercial159 109 Lease financing4 7 Total commercial163 116 Commercial real estateCommercial mortgages(5)15 Construction and development1 6 Total commercial real estate(4)21 Residential mortgages— — Credit card325 296 Other retailRetail leasing13 5 Home equity and second mortgages(1)— Other51 50 Total other retail63 55 Total net charge-offs547 488 Provision for credit losses537 553 Balance at end of period$7,915 $7,904 ComponentsAllowance for loan losses$7,584 $7,514 Liability for unfunded credit commitments331 390 Total allowance for credit losses(1)$7,915 $7,904 Period-end loans(2)$381,819 $374,588 Nonperforming loans(3)1,685 1,741 Allowance for Credit Losses as a Percentage ofPeriod-end loans(1)/(2)2.07 %2.11 %Non