Company: USB-PA
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000036104-25-000016
Chunk: 1

Company: US BANCORP \DE\
Filing Date: 2025-02-21
Form: 10-K
Item: Item 1
Chunk 1
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 address or satisfy those requirements and other requirements or conditions imposed by regulatory entities;

• Changes in trade policy, including the imposition of tariffs or the impacts of retaliatory tariffs;

• Changes in interest rates;

• Increases in unemployment rates;

• Deterioration in the credit quality of U. S. Bancorp's loan portfolios or in the value of the collateral securing those loans;

• Changes in commercial real estate occupancy rates;

• Risks related to originating and selling mortgages, including repurchase and indemnity demands, and related to U. S. Bancorp’s role as a loan servicer;

• Impacts of current, pending or future litigation and governmental proceedings;

• Increased competition from both banks and non-banks;

• Effects of climate change and related physical and transition risks;

• Changes in customer behavior and preferences and the ability to implement technological changes to respond to customer needs and meet competitive demands;

• Breaches in data security;

• Failures or disruptions in or breaches of U. S. Bancorp’s operational, technology or security systems or infrastructure, or those of third parties, including as a result of cybersecurity incidents;

• Failures to safeguard personal information;

• Impacts of pandemics, natural disasters, terrorist activities, civil unrest, international hostilities and geopolitical events;

• Impacts of supply chain disruptions, rising inflation, slower growth or a recession;

• Failure to execute on strategic or operational plans;

• Effects of mergers and acquisitions and related integration;

• Effects of critical accounting policies and judgments;

• Effects of changes in or interpretations of tax laws and regulations;

• Management’s ability to effectively manage credit risk, market risk, operational risk, compliance risk, strategic risk, interest rate risk, liquidity risk and reputation risk; and

• The risks and uncertainties more fully discussed in the section entitled “ Risk Factors” of the 2024 Annual Report.

Factors other than these risks also could adversely affect U. S. Bancorp’s results, and the reader should not consider these risks to be a complete set of all potential risks or uncertainties. Readers are cautioned not to place undue reliance on any forward-looking statements. Forward-looking statements speak only as of the date hereof, and U. S. Bancorp undertakes no obligation to update them in light of new information or future events.

General Business Description

U. S. Bancorp is a financial services holding company headquartered in Minneapolis, Minnesota, serving millions of local, national and global customers. U. S. Bancorp is registered as a bank holding company under the Bank Holding