Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 151

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 151
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 in the form of on-balance sheet and off-balance sheet funding sources. These liquidity sources include cash at the Federal Reserve Bank and certain European central banks, unencumbered liquid assets, and capacity to borrow from the FHLB and at the

| U.S. Bancorp |     | 21 |

Federal Reserve Bank’s Discount Window. Unencumbered liquid assets in the Company’s investment securities portfolio provide asset liquidity through the Company’s ability to sell the securities or pledge and borrow against them. Refer to Note 3 of the Notes to Consolidated Financial Statements and “Balance Sheet Analysis” for further information on investment securities maturities and trends. Asset liquidity is further enhanced by the Company’s practice of pledging loans to access secured borrowing facilities through the FHLB and Federal Reserve Bank. The following table summarizes the Company’s total available liquidity from on-balance sheet and off-balance sheet funding sources:

| (Dollars in Millions)            |     |   |         | March 31, 
 2025      |   |         | December 31, 
 2024         |
|:---------------------------------|:----|:--|--------:|:----------|:--|--------:|:-------------|
| Cash held at the Federal Reserve 
 Bank and other central banks     |     | $ |  41,490 |           | $ |  47,434 |              |
| Available investment securities  |     |   |  76,208 |           |   |  67,910 |              |
| Borrowing capacity from the      
 Federal Reserve Bank and         
 FHLB                             |     |   | 173,592 |           |   | 171,226 |              |
| Total available liquidity        |     | $ | 291,290 |           | $ | 286,570 |              |

The Company’s diversified deposit base provides a sizeable source of relatively stable and low-cost funding, while reducing the Company’s reliance on the wholesale markets. Total deposits were $512.5 billion at March 31, 2025, compared with $518.3 billion at December 31, 2024. Average noninterest-bearing deposit balances for the first quarter of 2025 decreased 6.0 percent compared with the first quarter of 2024, reflecting the shift of noninterest-bearing balances into interest-bearing deposit products resulting from the higher interest rate environment. Average total deposits for the first quarter of 2025 and first quarter of 2024