Company: USB-PA
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0000036104-25-000055
Chunk: 234

Company: US BANCORP \DE\
Filing Date: 2025-08-07
Form: 10-Q
Chunk 234
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 at a standard tax rate with the residual tax expense or benefit to arrive at the consolidated effective tax rate included in Treasury and Corporate Support.

Designations, assignments and allocations change from time to time as management systems are enhanced, methods of evaluating performance or product lines change or business segments are realigned to better respond to the Company’s diverse customer base. During 2025 and 2024, certain organization and methodology changes were made, including revising the Company’s business segment funds transfer-pricing methodology related to deposits and loans during the second quarter of 2024. Prior period results were recast and presented on a comparable basis.

| U.S. Bancorp |     | 73 |

Business segment results for the three months ended June 30 were as follows:

| (Dollars in Millions)                                      
 Condensed Income Statement                                 |     | Wealth, Corporate, Commercial and Institutional Banking |         | 2025 |   |         | 2024 | Consumer and Business Banking |         | 2025 |   |         | 2024 | Payment Services |        | 2025 |   |        | 2024 | Treasury and Corporate Support |         | 2025 |   |         | 2024 | Consolidated Company |         | 2025 |   |         | 2024 |
|:-----------------------------------------------------------|:----|:--------------------------------------------------------|--------:|:-----|:--|--------:|:-----|:------------------------------|--------:|:-----|:--|--------:|:-----|:-----------------|-------:|:-----|:--|-------:|:-----|:-------------------------------|--------:|:-----|:--|--------:|:-----|:---------------------|--------:|:-----|:--|--------:|:-----|
| Net interest income (taxable-equivalent basis)(a)          |     | $                                                       |   1,801 |      | $ |   1,928 |      | $                             |   1,843 |      | $ |   1,912 |      | $                |    730 |      | $ |    673 |      | $                              |    -294 |      | $ |    -461 |      | $                    |   4,080 |      | $ |   4,052 |      |
| Noninterest income(b)(c)                                   |     |                                                         |   1,199 |      |   |   1,130