Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 180

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Chunk 180
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 4,512 |                                    |
| September |     |           10 |   |       |      49.20 |     |                  10 |   | 4,512 |                                    |
| Total     |     |    2,179,072 | $ | 46.17 |            |     |           2,179,072 | $ | 4,512 |                                    |

Refer to “Management’s Discussion and Analysis — Capital Management” in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, for further discussion on capital management. Business Segment Financial Review The Company’s major business segments are Wealth, Corporate, Commercial and Institutional Banking, Consumer and Business Banking, Payment Services, and Treasury and Corporate Support. Basis for Financial Presentation Business segment results are derived from the Company’s business unit profitability reporting systems by specifically attributing managed balance sheet assets, deposits and other liabilities and their related income or expense. Refer to Note 16 of the Notes to Consolidated Financial Statements for further information on the business segments’ basis for financial presentation. Designations, assignments and allocations change from time to time as management systems are enhanced, methods of evaluating performance or product lines change or business segments are realigned to better respond to the Company’s diverse customer base. During 2025 and 2024, certain organization and methodology changes were made, including revising the Company’s business segment funds transfer-pricing methodology related to deposits and loans during the second quarter of 2024. Prior period results were recast and presented on a comparable basis. Wealth, Corporate, Commercial and Institutional Banking Wealth, Corporate, Commercial and Institutional Banking provides core banking, specialized lending, transaction and payment processing, capital markets, asset management, and brokerage and investment related services to wealth, middle

market, large corporate, commercial real estate, government and institutional clients. Wealth, Corporate, Commercial and Institutional Banking contributed $1.2 billion of the Company’s net income in the third quarter and $3.4 billion in the first nine months of 2025, or decreases of $32 million (2.7 percent) and $43 million (1.2 percent), respectively, compared with the same periods of 2024. Net revenue increased $45 million (1.5 percent) in the third quarter and decreased $83 million (0.9 percent) in the first nine months of 2025, compared with the same periods of 2024. Net interest income, on a taxable-equivalent basis