Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 58

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 58
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 years— — — — Maturing after ten years— — — — Total$314 $316 1.84.72 %Total available-for-sale(b)(f)$92,863 $86,774 6.63.54 %(a)Information related to asset and mortgage-backed securities included above is presented based upon weighted-average maturities that take into account anticipated future prepayments. (b)The weighted-average maturity of total held-to-maturity investment securities was 8.7 years at December 31, 2024, with a corresponding weighted-average yield of 2.20 percent. The weighted-average maturity of total available-for-sale investment securities was 6.8 years at December 31, 2024, with a corresponding weighted-average yield of 3.67 percent. (c)Information related to obligations of state and political subdivisions is presented based upon yield to first optional call date if the security is purchased at a premium, and yield to maturity if the security is purchased at par or a discount. (d)Maturity calculations for obligations of state and political subdivisions are based on the first optional call date for securities with a fair value above par and the contractual maturity date for securities with a fair value equal to or below par. (e)Weighted-average yields for obligations of state and political subdivisions are presented on a fully-taxable equivalent basis based on a federal income tax rate of 21 percent. Yields on investment securities are computed based on amortized cost balances, excluding any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity.(f)Amortized cost excludes portfolio level basis adjustments of $204 million.

U.S. Bancorp37

NOTE 4Loans and Allowance for Credit LossesThe composition of the loan portfolio, by class and underlying specific portfolio type, was as follows: March 31, 2025December 31, 2024(Dollars in Millions)AmountPercent of Total AmountPercent of Total CommercialCommercial$139,840 36.6 %$135,254 35.6 %Lease financing4,241 1.1 4,230 1.1 Total commercial144,081 37.7 139,484 36.7 Commercial Real EstateCommercial mortgages38,064 10.0 38,619 10.2 Construction and development10,270 2.7