Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 6

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 7
Chunk 6
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290 7.2 Service charges336 322 4.3 651 637 2.2 Capital markets revenue390 374 4.3 772 762 1.3 Mortgage banking revenue162 190 (14.7)335 356 (5.9)Investment products fees90 82 9.8 177 159 11.3 Other192 157 22.3 389 291 33.7 Total fee revenue2,981 2,851 4.6 5,817 5,549 4.8 Securities gains (losses), net(57)(36)(58.3)(57)(34)(67.6)Total noninterest income$2,924 $2,815 3.9 %$5,760 $5,515 4.4 %

 TABLE 3Noninterest Expense

Three Months EndedJune 30Six Months EndedJune 30(Dollars in Millions)20252024PercentChange20252024PercentChangeCompensation and employee benefits$2,600 $2,619 (.7)%$5,237 $5,310 (1.4)%Net occupancy and equipment301 316 (4.7)607 612 (.8)Professional services109 116 (6.0)207 226 (8.4)Marketing and business development161 158 1.9343 294 16.7Technology and communications534 509 4.91,067 1,016 5.0Other intangibles124 142 (12.7)247 288 (14.2)Other352 354 (.6)705 772 (8.7)Total before merger and integration charges4,181 4,214 (.8)8,413 8,518 (1.2)Merger and integration charges— — *— 155 *Total noninterest expense$4,181 $4,214 (.8)%$8,413 $8,673 (3.0)%Efficiency ratio(a)59.2 %61.0 %60.0 %63.7 %

*Not meaningful

(a)See Non-GAAP Financial Measures beginning on page 29.

Noninterest Expense Noninterest expense was $4.2 billion in the second