Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 192

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 192
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|:----|:-------------------|----:|:-----|:--|-----:|:-----|:------------------|----:|:-----|:--|-----:|:-----|
| Realized gains                                      |     | $                  |  10 |      | $ |  115 |      | $                 |  18 |      | $ |  118 |      |
| Realized losses                                     |     |                    | -17 |      |   | -234 |      |                   | -82 |      |   | -271 |      |
| Net realized gains (losses)                         |     | $                  |  -7 |      | $ | -119 |      | $                 | -64 |      | $ | -153 |      |
| Income tax (benefit) on net realized gains (losses) |     | $                  |  -2 |      | $ |  -31 |      | $                 | -16 |      | $ |  -39 |      |

The Company conducts a regular assessment of its available-for-sale investment securities with unrealized losses to determine whether all or some portion of a security’s unrealized loss is related to credit and an allowance for credit losses is necessary. If the Company intends to sell or it is more likely than not the Company will be required to sell an investment security, the amortized cost of the security is written down to fair value. When evaluating credit losses, the Company considers various factors such as the nature of the investment security, the credit ratings or financial condition of the issuer, the extent of the unrealized loss, expected cash flows of underlying collateral, the existence of any government or agency guarantees, and market conditions. The Company measures the allowance for credit losses using market information where available and discounting the cash flows at the original effective rate of the investment security. The allowance for credit losses is adjusted each period through earnings and can be subsequently recovered. The allowance for credit losses on the Company’s available-for-sale investment securities was immaterial at September 30, 2025 and December 31, 2024.

At September 30, 2025, certain investment securities had a fair value below amortized cost. The following table shows the gross unrealized losses excluding portfolio level basis adjustments and fair value of the Company’s available-for-sale investment securities with unrealized losses, aggregated by investment category and length of time the individual investment securities have been in continuous unrealized loss positions, at September 30,