Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 92

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 8
Chunk 92
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305 $856 $512 $2,001 $3,369 Value (bps)(b)152 197 146 153 162 204 145 156 Weighted-average servicing fees (bps)35 45 25 30 35 45 25 30 Multiple (value/servicing fees)4.29 4.42 5.75 5.09 4.57 4.56 5.69 5.17 Weighted-average note rate5.05 %4.38 %3.96 %4.29 %4.92 %4.35 %3.87 %4.18 %Weighted-average age (in years)4.66.55.35.34.56.15.05.0Weighted-average expected prepayment (constant prepayment rate)10.0 %10.4 %8.2 %8.9 %9.9 %10.2 %7.8 %8.6 %Weighted-average expected life (in years)7.56.77.37.37.56.87.47.4Weighted-average option adjusted spread(c)7.4 %6.6 %5.1 %5.9 %5.8 %6.2 %5.6 %5.7 %(a)Represents principal balance of mortgages having corresponding MSR asset. (b)Calculated as fair value divided by the servicing portfolio. (c)Option adjusted spread is the incremental spread added to the risk-free rate to reflect optionality and other risk inherent in the MSRs. 

(d)Represents loans sold primarily to GSEs.  

NOTE 7Preferred StockAt June 30, 2025 and December 31, 2024, the Company had authority to issue 50 million shares of preferred stock. The number of shares issued and outstanding and the carrying amount of each outstanding series of the Company’s preferred stock were as follows:  June 30, 2025December 31, 2024(Dollars in Millions)Shares Issued and OutstandingLiquidation PreferenceDiscountCarrying AmountShares Issued and OutstandingLiquidation PreferenceDiscountCarrying AmountSeries A12,510$1,251 $145 $1,106 12,510$1,251 $145 $1,106