Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 171

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 171
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 |   428 |     |               | 435 |     |                  |     — |     |   |  30,350 |       |
| Other retail             |     |          |  41,886 |         |            |   229 |     |               |  64 |     |                  |   147 |     |   |  42,326 |       |
| Total loans              |     | $        | 375,950 |         | $          | 1,279 |     | $             | 810 |     | $                | 1,793 |     | $ | 379,832 |       |

(a) At March 31, 2025, $ 512million of loans 30–89 days past due and $ 2.5billion of loans 90 days or more past due purchased and that could be purchased from GNMA mortgage pools under delinquent loan repurchase options whose repayments are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs, were classified as current, compared with $ 660million and $ 2.3billion at December 31, 2024, respectively.

(b) Substantially all nonperforming loans at March 31, 2025 and December 31, 2024, had an associated allowance for credit losses. The Company recognized interest income on nonperforming loans of $ 4million and $ 5million for the three months ended March 31, 2025 and 2024, respectively.

At March 31, 2025, the amount of foreclosed residential real estate held by the Company, and included in OREO, was $ 23million, compared with $ 21million at December 31, 2024. These amounts excluded $ 48million and $ 46million at March 31, 2025 and December 31, 2024, respectively, of foreclosed residential real estate related to mortgage loans whose payments are primarily insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs. In addition, the amount of residential mortgage loans secured by residential real estate in the process of foreclosure at March 31, 2025 and December 31, 2024, was $ 590million and $ 576million, respectively, of which $ 376million and $ 354million, respectively, related to loans purchased and that could be purchased from GNMA mortgage pools under del