Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 66

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 66
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 March 31, 2025 and December 31, 2024, was $590 million and $576 million, respectively, of which $376 million and $354 million, respectively, related to loans 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. The Company classifies its loan portfolio classes using internal credit quality ratings on a quarterly basis. These ratings include pass, special mention and classified, and are an important part of the Company’s overall credit risk management process and evaluation of the allowance for credit losses. Loans with a pass rating represent those loans not classified on the Company’s rating scale for problem credits, as minimal credit risk has been identified. Special mention loans are those loans that have a potential weakness deserving management’s close attention. Classified loans are those loans where a well-defined weakness has been identified that may put full collection of contractual cash flows at risk. It is possible that others, given the same information, may reach different reasonable conclusions regarding the credit quality rating classification of specific loans.

U.S. Bancorp41

The following table provides a summary of loans by portfolio class and the Company’s internal credit quality rating:March 31, 2025December 31, 2024CriticizedCriticized(Dollars in Millions)PassSpecial MentionClassified(a)Total CriticizedTotalPassSpecial MentionClassified(a)Total CriticizedTotalCommercialOriginated in 2025$16,275 $62 $240 $302 $16,577 $— $— $— $— $— Originated in 202450,854 473 874 1,347 52,201 57,578 503 1,034 1,537 59,115 Originated in 202315,423 152 378 530 15,953 19,128 173 564 737 19,865 Originated in 202217,944 127 344 471 18,415 19,718 231 370 601 20,319 Originated in 20214,410 12 58 70 4,480 4,677 60 92 152 4,829 Originated prior to 20216,039 146 273 419 6,458 6,812