Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 138

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Chunk 138
---
downs, payoffs                                     |     |   |  -199 |                                       |   | -17 |                                                     |   |  -216 |       |
| Net sales                                             |     |   |     — |                                       |   |  -4 |                                                     |   |    -4 |       |
| Return to performing status                           |     |   |    -5 |                                       |   | -22 |                                                     |   |   -27 |       |
| Charge-offs(d)                                        |     |   |  -110 |                                       |   |  -8 |                                                     |   |  -118 |       |
| 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.

| 14 |     | U.S. Bancorp |

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

| (Dollars in Millions)            
 Commercial                       |     | Three Months Ended March 31 
 2025