Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 240

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 240
---
   |        |          |     |       |                  |      |         |                  |   |        |          |     |       |                  |             |       |                           |
| Interest income                                             |     |                                  |         |                  |   |        |          |     |  4.99 | %                |      |         |                  |   |        |          |     |  5.27 | %                |             |       |                           |
| Interest expense                                            |     |                                  |         |                  |   |        |          |     |  2.30 |                  |      |         |                  |   |        |          |     |  2.59 |                  |             |       |                           |
| Net interest margin                                         |     |                                  |         |                  |   |        |          |     |  2.69 | %                |      |         |                  |   |        |          |     |  2.68 | %                |             |       |                           |
| Net interest margin without taxable-equivalent increments   |     |                                  |         |                  |   |        |          |     |  2.67 | %                |      |         |                  |   |        |          |     |  2.66 | %                |             |       |                           |

* Not meaningful

(a) Interest and rates are presented on a fully taxable-equivalent basis based on a federal income tax rate of 21 percent.

(b) Yields on investment securities are computed based on amortized cost balances, excluding any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity. Yields include impacts of hedge accounting, including portfolio level basis adjustments.

(c) Interest income and rates on loans include loan fees. Nonaccrual loans are included in average loan balances.

(d) Interest expense and rates include interest paid on collateral associated with derivative positions.

| U.S. Bancorp |     | 77 |

# Part II — Other Information

## Item 1. Legal Proceedings

## — See the information set forth in “Litigation and Regulatory Matters” in Note 15 in the Notes to Consolidated Financial Statements on page 72of this Report, which is incorporated herein by reference.

## Item 1A. Risk Factors

## — There are a number of factors that may adversely affect the Company’s business, financial results or stock price. Refer to “Risk Factors” in the