Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 120

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 120
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 and liquidity requirements, and the enforcement and interpretation of such laws and regulations, and U.S. Bancorp’s ability to address or satisfy those requirements and other requirements or conditions imposed by regulatory entities;

• Changes in trade policy, including the imposition of tariffs or the impacts of retaliatory tariffs;

• Changes in interest rates;

| U.S. Bancorp |     | 1 |

• Increases in unemployment rates;

• Deterioration in the credit quality of U.S. Bancorp's loan portfolios or in the value of the collateral securing those loans;

• Changes in commercial real estate occupancy rates;

• Increases in Federal Deposit Insurance Corporation (“FDIC”) assessments, including due to bank failures;

• Actions taken by governmental agencies to stabilize the financial system and the effectiveness of such actions;

• Uncertainty regarding the content, timing and impact of changes to regulatory capital, liquidity and resolution-related requirements applicable to large banking organizations in response to adverse developments affecting the banking sector;

• Risks related to originating and selling mortgages, including repurchase and indemnity demands, and related to U.S. Bancorp’s role as a loan servicer;

• Impacts of current, pending or future litigation and governmental proceedings;

• Increased competition from both banks and non-banks;

• Effects of climate change and related physical and transition risks;

• Changes in customer behavior and preferences and the ability to implement technological changes to respond to customer needs and meet competitive demands;

• Breaches in data security;

• Failures or disruptions in or breaches of U.S. Bancorp’s operational, technology or security systems or infrastructure, or those of third parties, including as a result of cybersecurity incidents;

• Failures to safeguard personal information;

• Impacts of pandemics, natural disasters, terrorist activities, civil unrest, international hostilities and geopolitical events;

• Impacts of supply chain disruptions, rising inflation, slower growth or a recession;

• Failure to execute on strategic or operational plans;

• Effects of mergers and acquisitions and related integration;

• Effects of critical accounting policies and judgments;

• Effects of changes in or interpretations of tax laws and regulations;

• Management’s ability to effectively manage credit risk, market risk, operational risk, compliance risk, strategic risk, interest rate risk, liquidity risk and reputation risk; and

• The risks and uncertainties more fully discussed in the section entitled “Risk Factors” of U.S. Bancorp’s Form 10-K for the year ended December 31, 2024, and subsequent filings with the Securities and Exchange Commission (“SEC”).

Factors other