Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 198

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 198
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|:----|:---------------|:--|:--------|:--|:--|:--------|:--|----:|:--------|:--|----:|:------|:------------------|:--|:--------|:--|:--|:--------|:--|----:|:--------|:--|----:|:------|
| (Dollars in Millions) |     |                |   | Level 1 |   |   | Level 2 |   |     | Level 3 |   |     | Total |                   |   | Level 1 |   |   | Level 2 |   |     | Level 3 |   |     | Total |
| Loans(a)              |     | $              | — |         | $ | — |         | $ | 339 |         | $ | 339 |       | $                 | — |         | $ | — |         | $ | 636 |         | $ | 636 |       |
| Other assets(b)       |     |                | — |         |   | — |         |   |   5 |         |   |   5 |       |                   | — |         |   | — |         |   |  25 |         |   |  25 |       |

(a) Represents the carrying value of loans for which adjustments were based on the fair value of the collateral, excluding loans fully charged-off.

(b) Primarily represents the fair value of foreclosed properties that were measured at fair value based on an appraisal or broker price opinion of the collateral subsequent to their initial acquisition.

The following table summarizes losses recognized related to nonrecurring fair value measurements of individual assets or portfolios:

| (Dollars in Millions) |     | Three Months Ended March 31 |    | 2025 |   |    | 2024 |
|:----------------------|:----|:----------------------------|---:|:-----|:--|---:|:-----|
| Loans(a)              |     | $                           | 99 |      | $ | 67 |      |
| Other assets(b)       |     |                             |  1 |      |   |  2 |      |

(a) Represents write-downs of loans which were based on the fair value of the collateral, excluding loans fully charged-off.

(b) Primarily represents related losses of foreclosed properties that were measured at fair value subsequent to their initial acquisition.

Fair