Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 170

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 170
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 amount exceeds the fair value of the collateral, is charged down to the fair value of the related collateral and the remaining balance is placed on nonaccrual status. Credit card loans continue to accrue interest until the account is charged-off. Credit cards are charged-off at 180days past due. Other retail loans not secured by 1-4 family properties are charged-off at 120days past due, and revolving consumer lines are charged-off at 180days past due. Similar to credit cards, other retail loans are generally not placed on nonaccrual status because of the relative short period of time to charge-off. Certain retail customers having financial difficulties may have the terms of their credit card and other loan agreements modified to require only principal payments and, as such, are reported as nonaccrual.

For all loan classes, interest payments received on nonaccrual loans are generally recorded as a reduction to a loan’s carrying amount while a loan is on nonaccrual and are recognized as interest income upon payoff of the loan. However, interest income may be recognized for interest payments if the remaining carrying amount of the loan is believed to be collectible. In certain circumstances, loans in any class may be restored to accrual status, such as when a loan has demonstrated sustained repayment performance or no amounts are past due and prospects for future payment are no longer in doubt; or when the loan becomes well secured and is in the process of collection. Loans where there has been a partial charge-off may be returned to accrual status if all principal and interest (including amounts previously charged-off) is expected to be collected and the loan is current.

| 40 |     | U.S. Bancorp |

The following table provides a summary of loans by portfolio class, including the delinquency status of those that continue to accrue interest, and those that are nonperforming:

| (Dollars in Millions)    
 March 31, 2025           |     | Accruing |         | Current | 30-89 Days 
 Past Due   |       |     | 90 Days or    
 More Past Due |     |     | Nonperforming(b) |       |     |   |         | Total |
|:-------------------------|:----|:---------|--------:|:--------|:-----------|------:|:----|:--------------|----:|:----|:-----------------|------:|:----|:--|--------:|:------|
| Commercial               |     | $