Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 181

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 181
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 |                 |         | 5.1 |   |         |   5.1 |   |                   | 4.5 |   |        |        6.1 |                 |         | 5.0 |   |         |   5.0 |
| Weighted-average expected prepayment (constant prepayment rate) |     |   |           10.5 |   % |   |   10.6 |          % |                 |     8.2 |   % |   |     9.0 |     % |   |               9.9 |   % |   |   10.2 |          % |                 |     7.8 |   % |   |     8.6 |     % |
| Weighted-average expected life (in years)                       |     |   |                | 7.2 |   |        |        6.6 |                 |         | 7.3 |   |         |   7.2 |   |                   | 7.5 |   |        |        6.8 |                 |         | 7.4 |   |         |   7.4 |
| Weighted-average option adjusted spread(c)                      |     |   |            6.8 |   % |   |    6.6 |          % |                 |     5.1 |   % |   |     5.7 |     % |   |               5.8 |   % |   |    6.2 |          % |                 |     5.6 |   % |   |     5.7 |     % |

(a) Represents principal balance of mortgages having corresponding MSR asset.

(b) Calculated as fair value divided by the servicing portfolio.

(c) Option adjusted spread is the incremental spread added to the risk-free rate to reflect optionality and other risk inherent in the MSRs.

(d) Represents loans sold primarily to GSEs.

| NOTE 7 |     | Preferred Stock |

At March 31, 2025 and December 31, 2024, the Company had authority to issue 50million shares of preferred stock. The number of shares issued and outstanding and the carrying amount of each outstanding series of the Company’s preferred stock were as follows:

|                          |     | March 31, 2025                |     |         |                        |       |     |   |     |