Company: USB-PA
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0000036104-25-000028
Chunk: 48

Company: US BANCORP \DE\
Filing Date: 2025-05-06
Form: 10-Q
Item: Item 8
Chunk 48
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691 76,863 Less cost of common stock in treasury: 3/31/25—565,431,349 shares; 12/31/24—565,929,654 shares(24,060)(24,065)Accumulated other comprehensive income (loss)(9,042)(9,764)Total U.S. Bancorp shareholders’ equity60,096 58,578 Noncontrolling interests462 462 Total equity60,558 59,040 Total liabilities and equity$676,489 $678,318 

(a)Includes only collateral pledged by the Company where counterparties have the right to sell or pledge the collateral. 

See Notes to Consolidated Financial Statements. 

U.S. Bancorp29

U.S. Bancorp 

Consolidated Statement of Income 

(Dollars and Shares in Millions, Except Per Share Data) (Unaudited)Three Months EndedMarch 3120252024Interest IncomeLoans$5,533 $5,712 Loans held for sale28 37 Investment securities1,308 1,175 Other interest income647 840 Total interest income7,516 7,764 Interest ExpenseDeposits2,511 2,884 Short-term borrowings249 270 Long-term debt664 625 Total interest expense3,424 3,779 Net interest income4,092 3,985 Provision for credit losses537 553 Net interest income after provision for credit losses3,555 3,432 Noninterest IncomeCard revenue398 392 Corporate payment products revenue189 184 Merchant processing services415 401 Trust and investment management fees680 641 Service charges315 315 Capital markets revenue382 388 Mortgage banking revenue173 166 Investment products fees87 77 Securities gains (losses), net— 2 Other197 134 Total noninterest income2,836 2,700 Noninterest ExpenseCompensation and employee benefits2,637 2,691 Net occupancy and equipment306 296 Professional services98 110 Marketing and business development182 136 Technology and communications533 507 Other intangibles123 146 Merger and integration charges— 155 Other353 418 Total noninterest expense4,232 4,459 Income before income taxes2,159 1,673 Applicable income taxes443