Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 138

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 8
Chunk 138
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603 402 14.8834.1 Total short-term borrowings(d)19,099 868 6.0717,064 852 6.6711.9 Long-term debt61,360 2,114 4.6153,482 1,926 4.8114.7 Total interest-bearing liabilities(d)507,978 10,682 2.81496,082 11,694 3.152.4 Other liabilities25,083 25,112 (.1)Shareholders’ equityPreferred equity6,808 6,808 — Common equity54,254 49,858 8.8 Total U.S. Bancorp shareholders’ equity61,062 56,666 7.8 Noncontrolling interests459 463 (.9)Total equity61,521 57,129 7.7 Total liabilities and equity$674,150 $661,363 1.9 Net interest income$12,453 $12,233 Gross interest margin2.23 %2.14 %Gross interest margin without taxable-equivalent increments2.21 %2.12 %Percent of Earning AssetsInterest income5.04 %5.29 %Interest expense2.332.59Net interest margin2.71 %2.70 %Net interest margin without taxable-equivalent increments2.69 %2.68 %

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(a)Interest and rates are presented on a fully taxable-equivalent basis based on a federal income tax rate of 21 percent. 

(b)Yields on investment securities are computed based on amortized cost balances, excluding any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity. Yields include impacts of hedge accounting, including portfolio level basis adjustments.

(c)Interest income and rates on loans include loan fees. Nonaccrual loans are included in average loan balances. 

(d)Average balances for the nine months ended September 30, 2025, reflect the impact of balance sheet netting of certain repurchase/reverse repurchase transactions under enforceable netting agreements, exclusive of the related interest income and expense. Reflecting the impact of netting the related interest income and expense for these arrangements, the average yields earned on other earning assets and total earning assets were 4.71% and 5.01