Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 11

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Item: Item 7
Chunk 11
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2024, primarily driven by an increase in Wealth, Corporate, Commercial and Institutional Banking balances. Time deposits increased $2.1 billion (3.9 percent) at June 30, 2025, compared with December 31, 2024, driven by higher Consumer and Business Banking balances, partially offset by lower Wealth, Corporate, Commercial and Institutional Banking balances. Changes in time deposits are primarily related to those deposits managed as an alternative to other funding sources, based largely on relative pricing and liquidity characteristics. Money market deposit balances decreased $25.7 billion (12.4 percent), primarily due to lower Consumer and Business Banking, and Wealth, Corporate, Commercial and Institutional Banking balances. Savings account balances increased $15.5 billion (34.1 percent), driven by higher Consumer and Business Banking balances. Interest checking balances increased $5.7 billion (4.5 percent), primarily due to higher Wealth, Corporate, Commercial and Institutional Banking balances. Borrowings The Company utilizes both short-term and long-term borrowings as part of its asset/liability management and funding strategies. Short-term borrowings, which include federal funds purchased, commercial paper, repurchase agreements, borrowings secured by high-grade assets and other short-term borrowings, were $15.0 billion at June 30, 2025, compared with $15.5 billion at December 31, 2024. The $479 million (3.1 percent) decrease in short-term borrowings was primarily due to decreases in short-term Federal Home Loan Bank (“FHLB”) advances, commercial paper and repurchase agreement balances, partially offset by higher other short-term borrowing balances. Long-term debt was $64.0 billion at June 30, 2025, compared with $58.0 billion at December 31, 2024. The $6.0 billion (10.4 percent) increase was primarily due to $4.7 billion of medium-term note issuances, a $2.0 billion increase in FHLB advances, $1.9 billion of bank note issuances and $625 million of credit-linked bank note issuances, partially offset by $2.1 billion of bank note and $1.5 billion of medium-term note repayments and maturities. Refer to the “Liquidity Risk Management” section for discussion of liquidity management of the Company. 

8U.S. Bancorp

Corporate Risk Profile Overview Managing risks is an essential part of successfully operating a financial