Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 28

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 7
Chunk 28
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 and December 31, 2024: 

June 30,2025December 31,2024United States unemployment rate for the three months ending(a)June 30, 20254.4 %4.4 %December 31, 20254.7 4.3 June 30, 20264.6 4.4 United States real gross domestic product for the three months ending(b)June 30, 20251.3 %1.9 %December 31, 2025.1 1.7 June 30, 20261.0 2.0 

(a)Reflects quarterly average of forecasted reported United States unemployment rate. 

(b)Reflects year-over-year growth rates. 

18U.S. Bancorp

TABLE 8Summary of Allowance for Credit Losses

Three Months EndedJune 30Six Months EndedJune 30(Dollars in Millions)2025202420252024Balance at beginning of period$7,915 $7,904 $7,925 $7,839 Charge-OffsCommercialCommercial147 171 327 300 Lease financing8 9 15 19 Total commercial155 180 342 319 Commercial real estateCommercial mortgages74 37 98 65 Construction and development— 1 1 7 Total commercial real estate74 38 99 72 Residential mortgages4 3 8 7 Credit card373 358 759 695 Other retailRetail leasing13 7 30 15 Home equity and second mortgages1 1 3 5 Other63 65 132 134 Total other retail77 73 165 154 Total charge-offs683 652 1,373 1,247 RecoveriesCommercialCommercial25 36 46 56 Lease financing2 1 5 4 Total commercial27 37 51 60 Commercial real estateCommercial mortgages17 2 46 15 Construction and development— — — — Total commercial real estate17 2 46 15 Residential mortgages5 7 9 11 Credit card56 43 117 84 Other retailRetail leasing3 4 7 7 Home equity and second mortgages1 2 4 6 Other20 19 38 38 Total other retail24