Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 59

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 59
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 10,240 2.7 Total commercial real estate48,334 12.7 48,859 12.9 Residential MortgagesResidential mortgages113,112 29.6 112,806 29.7 Home equity loans, first liens5,795 1.5 6,007 1.6 Total residential mortgages118,907 31.1 118,813 31.3 Credit Card29,223 7.7 30,350 8.0 Other RetailRetail leasing3,928 1.0 4,040 1.0 Home equity and second mortgages13,540 3.6 13,565 3.6 Revolving credit3,791 1.0 3,747 1.0 Installment14,190 3.7 14,373 3.8 Automobile5,825 1.5 6,601 1.7 Total other retail41,274 10.8 42,326 11.1 Total loans$381,819 100.0 %$379,832 100.0 %The Company had loans of $127.4 billion at March 31, 2025, and $127.6 billion at December 31, 2024, pledged at the FHLB, and loans of $85.8 billion at March 31, 2025, and $85.1 billion at December 31, 2024, pledged at the Federal Reserve Bank. Originated loans are reported at the principal amount outstanding, net of unearned interest and deferred fees and costs, and any partial charge-offs recorded. Purchased loans are recorded at fair value at the date of purchase. Net unearned interest and deferred fees and costs on originated loans and unamortized premiums and discounts on purchased loans amounted to $2.4 billion and $2.5 billion at March 31, 2025 and December 31, 2024, respectively. The Company evaluates purchased loans for more-than-insignificant deterioration at the date of purchase in accordance with applicable authoritative accounting guidance. Purchased loans that have experienced more-than-insignificant deterioration from origination are considered purchased credit deteriorated loans. All other purchased loans are considered non-purchased credit deteriorated loans. Allowance for Credit Losses The allowance for credit losses is