Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 20

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 7
Chunk 20
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Total reductions(314)(51)(365)Net additions to (reductions in) nonperforming assets(97)(8)(105)Balance March 31, 2025$1,397 $330 $1,727 

(a)Throughout this document, nonperforming assets and related ratios do not include accruing loans 90 days or more past due.

(b)Excludes $2.5 billion at March 31, 2025, and $2.3 billion at December 31, 2024, of loans purchased and loans that could be purchased from GNMA mortgage pools under delinquent loan repurchase options that are 90 days or more past due that continue to accrue interest, as their repayments are primarily insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs.

(c)Foreclosed GNMA loans of $48 million at March 31, 2025, and $46 million at December 31, 2024, continue to accrue interest and are recorded as other assets and excluded from nonperforming assets because they are insured by the Federal Housing Administration or guaranteed by the United States Department of Veterans Affairs.

(d)Charge-offs exclude actions for certain card products and loan sales that were not classified as nonperforming at the time the charge-off occurred.

14U.S. Bancorp

TABLE 7Net Charge-offs as a Percent of Average Loans Outstanding

Three Months Ended March 3120252024(Dollars in Millions)Average Loan BalanceNet    Charge-offsPercentAverage Loan BalanceNet       Charge-offsPercentCommercialCommercial$135,931 $159 .47 %$126,602 $109 .35 %Lease financing4,199 4 .39 4,165 7 .68 Total commercial140,130 163 .47 130,767 116 .36 Commercial Real EstateCommercial mortgages38,624 (5)(.05)41,545 15 .15 Construction and development10,266 1 .04 11,492 6 .21 Total commercial real estate48,890 (4)(.03)53,037 21 .16 Residential Mortgages118,844 — — 115,639 — — Credit Card29,404 325 4.48 27,942 296 4.26 Other RetailRetail leasing3,990 13