Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 199

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 199
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                  |  5.0 |                                            |     |                  |     |                                          19 |
| Loans purchased from GNMA mortgage pools |     |                  |   .4 |                                            |     |                  |     |                                          99 |
| 2024                                     |     |                  |      |                                            |     |                  |     |                                             |
| Commercial(a)                            |     |                  | 20.0 | %                                          |     |                  |     |                                           7 |
| Commercial real estate                   |     |                  |  2.2 |                                            |     |                  |     |                                           9 |
| Residential mortgages                    |     |                  |   .7 |                                            |     |                  |     |                                          85 |
| Credit card                              |     |                  | 16.3 |                                            |     |                  |     |                                           — |
| Other retail                             |     |                  |  8.4 |                                            |     |                  |     |                                           4 |
| Loans purchased from GNMA mortgage pools |     |                  |   .5 |                                            |     |                  |     |                                         116 |

Note: The weighted-average payment deferral for all portfolio classes was less than $ 1million for the three and six months ended June 30, 2025 and 2024. Forbearance payments are required to be paid at the end of the original term loan.

(a) The weighted-average interest rate reduction was primarily driven by commercial cards.

For the commercial lending segment, modifications generally result in the Company working with borrowers on a case-by-case basis. Commercial and commercial real estate modifications generally include extensions of the maturity date and may be accompanied by an increase or decrease to the interest rate. In addition, the Company may work with the borrower in identifying other changes that mitigate loss to the Company, which may include additional collateral or guarantees to support the loan. To a lesser extent, the Company may provide an interest rate reduction.

Modifications for the consumer lending segment are generally part of programs the Company has initiated. The Company modifies residential mortgage loans under Federal Housing Administration, United States Department of Veterans Affairs, or its own internal programs. Under these programs, the Company offers qualifying homeowners the opportunity to permanently modify their loan and achieve more affordable monthly payments. These modifications may include adjustments to interest rates, conversion of adjustable rates to fixed rates, extension of maturity dates or deferrals of payments, capitalization of accrued interest and/or outstanding advances, or in limited situations, partial forgiveness of loan principal.