Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 65

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 65
---
 Residential mortgages(a)118,242 295 229 141 118,907 Credit card28,432 382 409 — 29,223 Other retail40,862 207 57 148 41,274 Total loans$378,092 $1,246 $796 $1,685 $381,819 December 31, 2024Commercial$138,362 $356 $96 $670 $139,484 Commercial real estate47,948 78 9 824 48,859 Residential mortgages(a)118,267 188 206 152 118,813 Credit card29,487 428 435 — 30,350 Other retail41,886 229 64 147 42,326 Total loans$375,950 $1,279 $810 $1,793 $379,832 (a)At March 31, 2025, $512 million of loans 30–89 days past due and $2.5 billion of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $660 million and $2.3 billion at December 31, 2024, respectively. (b)Substantially all nonperforming loans at March 31, 2025 and December 31, 2024, had an associated allowance for credit losses. The Company recognized interest income on nonperforming loans of $4 million and $5 million for the three months ended March 31, 2025 and 2024, respectively.At March 31, 2025, the amount of foreclosed residential real estate held by the Company, and included in OREO, was $23 million, compared with $21 million at December 31, 2024. These amounts excluded $48 million and $46 million at March 31, 2025 and December 31, 2024, respectively, of foreclosed residential real estate related to mortgage loans whose payments are primarily insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs. In addition, the amount of residential mortgage loans secured by residential real estate in the process of foreclosure at