Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 197

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 197
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 |             |     |   |        |                       |   |      |                                                                                                  |    |
| Mortgage servicing rights             |     | $ |  3,377 |                             | $ |     30 |                                           | -a |     | $ |   — |           | $ |  — |       |     | $ | 55 |           | -c |     | $ |   — |             |     | $ |  3,462 |                       | $ |   30 |                                                                                                  | -a |
| Net derivative assets and liabilities |     |   | -1,885 |                             |   | -1,683 |                                           | -e |     |   | 378 |           |   | -2 |       |     |   |  — |           |    |     |   | 831 |             |     |   | -2,361 |                       |   | -181 |                                                                                                  | -f |

(a) Included in mortgage banking revenue.

(b) Approximately $ 51million, $( 241) million and $( 1) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively.

(c) Represents MSRs capitalized during the period.

(d) Approximately $ 16million, $ 981million and $( 1) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively.

(e) Approximately $ 44million, $( 1.7) billion and $( 75) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively.

(f) Approximately $ 19million, $( 125) million and $( 75) million included in mortgage banking revenue, capital markets revenue and other noninterest income, respectively.

The Company is also required periodically to measure certain other financial assets at fair value on a nonrecurring basis. These measurements of fair value usually result from the application of lower-of-cost-or-fair value accounting or write-downs of individual assets.

The following table summarizes the balances as of the measurement date of assets measured at fair value on a nonrecurring basis, and still held as of the reporting date:

|                       |     | March 31, 2025 |   |         |   |   |         |   |     |         |   |     |       | December 31, 2024 |   |         |   |   |         |   |     |         |   |     |       |
|:----------------------