Company: USB-PA
Filing Date: 2025-11-05
Form Type: 10-Q
Source: 0000036104-25-000064
Chunk: 22

Company: US BANCORP \DE\
Filing Date: 2025-11-05
Form: 10-Q
Item: Item 7
Chunk 22
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127)(1,420)Net additions to (reductions in) nonperforming assets(182)4 (178)Balance September 30, 2025$1,312 $342 $1,654 

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

(b)Excludes $2.4 billion at September 30, 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 $63 million at September 30, 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.

U.S. Bancorp15

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

Three Months Ended September 3020252024(Dollars in Millions)Average Loan BalanceNet    Charge-offsPercentAverage Loan BalanceNet       Charge-offsPercentCommercialCommercial$141,542 $85 .24 %$128,979 $139 .43 %Lease financing4,250 7 .65 4,159 8 .77 Total commercial145,792 92 .25 133,138 147 .44 Commercial Real EstateCommercial mortgages38,384 103 1.06 40,343 69 .68 Construction and development9,862 — — 11,111 1 .04 Total commercial real estate48,246 103 .85 51,454 70 .54 Residential Mortgages114,780 (1)— 117,559 (3)(.01)Credit Card30,241 284 3.73 28,994 299 4.10 Other RetailRetail leasing3,718 17 1.