Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 173

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 173
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 | $ |  47,434 |              |
| Available investment securities  |     |   |  59,101 |          |   |  67,910 |              |
| Borrowing capacity from the      
 Federal Reserve Bank and         
 FHLB                             |     |   | 189,564 |          |   | 171,226 |              |
| Total available liquidity        |     | $ | 297,629 |          | $ | 286,570 |              |

The Company’s diversified deposit base provides a sizeable source of relatively stable and low-cost funding, while reducing the Company’s reliance on the wholesale markets. Total deposits were $518.7 billion at June 30, 2025, compared with $518.3 billion at December 31, 2024. Average noninterest-bearing deposit balances for the second quarter of 2025 decreased 5.2 percent compared with the second quarter of 2024, reflecting the shift of noninterest-bearing balances into interest-bearing deposit products resulting from the higher interest rate environment. Average total deposits for the second quarter of 2025 and second quarter of 2024 funded approximately 75 percent and 77 percent of the Company’s total assets for these same periods, respectively. Refer to “Balance Sheet Analysis” for further information on the Company’s deposits. Additional funding is provided by long-term debt and short-term borrowings. Long-term debt was $64.0 billion at June 30, 2025, and is an important funding source because of its multi-year borrowing structure. Short-term borrowings were $15.0 billion at June 30, 2025, and supplement the Company’s other funding sources. Refer to “Balance Sheet Analysis” for further information on the Company’s long-term debt and short-term borrowings. In addition to assessing liquidity risk on a consolidated basis, the Company monitors the parent company’s liquidity. The parent company’s routine funding requirements consist primarily of operating expenses, dividends paid to shareholders, debt service, repurchases of common stock and funds used for acquisitions. The parent company obtains funding to meet its obligations from dividends collected from its subsidiaries and the issuance of debt and capital securities. The Company establishes limits for the minimal number of months into the future where the parent company can meet existing and forecasted obligations with cash and securities held that can be readily monetized. The Company measures and manages this limit in both normal and adverse conditions. The Company maintains sufficient funding to meet

expected capital and debt service obligations for 24