Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 62

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 62
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386 88 690 Less recoveries of loans charged-off(24)(29)(4)(61)(25)(143)Net loan charge-offs (recoveries)163 (4)— 325 63 547 Balance at end of period$2,212 $1,432 $789 $2,644 $838 $7,915 2024Balance at beginning of period$2,119 $1,620 $827 $2,403 $870 $7,839 AddProvision for credit losses156 30 16 318 33 553 DeductLoans charged-off139 34 4 337 81 595 Less recoveries of loans charged-off(23)(13)(4)(41)(26)(107)Net loan charge-offs (recoveries)116 21 — 296 55 488 Balance at end of period$2,159 $1,629 $843 $2,425 $848 $7,904 The decrease in the allowance for credit losses at March 31, 2025, compared with December 31, 2024, was primarily driven by improved credit quality and portfolio mix. 

U.S. Bancorp39

The following table provides a summary of loans charged-off by portfolio class and year of origination: Three Months Ended March 31 (Dollars in Millions)CommercialCommercial Real EstateResidential  MortgagesCredit Card(a)Other RetailTotal Loans2025Originated in 2025$10 $— $— $— $— $10 Originated in 202431 6 — — 11 48 Originated in 202329 14 — — 15 58 Originated in 202232 4 — — 13 49 Originated in 20214 1 — — 15 20 Originated prior to 20219 — 4 — 9 22 Revolving72 — — 386 25 483 Total charge-offs$187 $25 $4 $386 $88 $690 2024Originated in 2024$— $5 $— $— $2 $7 Originated in 202326 4 — — 10 40 Originated in 202218 24