Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 193

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 193
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 872 |            |            | -15 |     |                      |  7,815 |            |            | -1,084 |     |       |  8,687 |            |            | -1,099 |
| Total investment securities                     |     | $                   | 10,386 |            | $          | -49 |     | $                    | 49,728 |            | $          | -4,998 |     | $     | 60,114 |            | $          | -5,047 |

| U.S. Bancorp |     | 37 |

These unrealized losses primarily relate to changes in interest rates and market spreads subsequent to purchase of these available-for-sale investment securities. U.S. Treasury and agencies securities and agency mortgage-backed securities are issued, guaranteed or otherwise supported by the United States government. The Company’s obligations of state and political subdivisions are generally high grade. Accordingly, the Company does not consider these unrealized losses to be credit-related and an allowance for credit losses is not necessary. In general, the issuers of the investment securities are contractually prohibited from prepayment at less than par, and the Company did not pay significant purchase premiums for these investment securities. At September 30, 2025, the Company had no plans to sell investment securities with unrealized losses, and believes it is more likely than not it would not be required to sell such investment securities before recovery of their amortized cost.

During the three and nine months ended September 30, 2025 and 2024, the Company did not purchase any investment securities that had more-than-insignificant credit deterioration.

Predominately all of the Company’s held-to-maturity investment securities are U.S. Treasury and agencies securities and highly rated agency mortgage-backed securities that are guaranteed or otherwise supported by the United States government and have no history of credit losses. Accordingly the Company does not expect to incur any credit losses on held-to-maturity investment securities and has noallowance for credit losses recorded for these securities.

| 38 |     | U.S. Bancorp |

The following table provides information about the amortized cost, fair value and yield by maturity date of the investment securities outstanding at September 30, 2025:

| (Dollars in Millions)                                 
 Held-to-Maturity                                      
 U.S. Treasury and agencies                            |     | Amortized 
 Cost      |        |     | Fair Value |        |     | Weighted-  Average 
 Maturity in Years