Table 10

Line of Business Financial Performance


	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Three Months Ended September 30 (Dollars in Millions)	2014		2013			Percent Change			2014		2013		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	518	$	506			2.4	%	$	1,074	$	1,153		(6.9	)%
Noninterest income		236		266			(11.3	)		669		717		(6.7	)
Securities gains (losses), net		–		–			–			–		–		–
Total net revenue		754		772			(2.3	)		1,743		1,870		(6.8	)
Noninterest expense		304		302			.7			1,169		1,110		5.3
Other intangibles		1		2			(50.0	)		12		10		20.0
Total noninterest expense		305		304			.3			1,181		1,120		5.4
Income before provision and income taxes		449		468			(4.1	)		562		750		(25.1	)
Provision for credit losses		29		(41	)		*			79		163		(51.5	)
Income before income taxes		420		509			(17.5	)		483		587		(17.7	)
Income taxes and taxable-equivalent adjustment		153		185			(17.3	)		176		214		(17.8	)
Net income		267		324			(17.6	)		307		373		(17.7	)
Net (income) loss attributable to noncontrolling interests		–		–			–			–		–		–
Net income attributable to U.S. Bancorp	$	267	$	324			(17.6	)	$	307	$	373		(17.7	)
Average Balance Sheet
Commercial	$	59,048	$	51,302			15.1	%	$	9,439	$	8,584		10.0	%
Commercial real estate		21,160		19,683			7.5			18,899		18,069		4.6
Residential mortgages		19		24			(20.8	)		50,544		48,130		5.0
Credit card		–		–			–			–		–		–
Other retail		4		6			(33.3	)		46,594		44,727		4.2
Total loans, excluding covered loans		80,231		71,015			13.0			125,476		119,510		5.0
Covered loans		174		340			(48.8	)		5,688		6,434		(11.6	)
Total loans		80,405		71,355			12.7			131,164		125,944		4.1
Goodwill		1,648		1,604			2.7			3,680		3,515		4.7
Other intangible assets		21		24			(12.5	)		2,664		2,650		.5
Assets		87,449		77,708			12.5			145,604		140,621		3.5
Noninterest-bearing deposits		32,684		30,812			6.1			24,696		22,585		9.3
Interest checking		11,270		10,031			12.4			36,881		33,007		11.7
Savings products		19,082		15,067			26.6			51,229		46,532		10.1
Time deposits		17,961		22,362			(19.7	)		17,816		20,718		(14.0	)
Total deposits		80,997		78,272			3.5			130,622		122,842		6.3
Total U.S. Bancorp shareholders’ equity		7,764		7,366			5.4			11,504		12,222		(5.9	)


	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Nine Months Ended September 30 (Dollars in Millions)	2014		2013			Percent Change			2014		2013		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,521	$	1,501			1.3	%	$	3,241	$	3,459		(6.3	)%
Noninterest income		738		819			(9.9	)		1,967		2,268		(13.3	)
Securities gains (losses), net		–		–			–			–		–		–
Total net revenue		2,259		2,320			(2.6	)		5,208		5,727		(9.1	)
Noninterest expense		930		920			1.1			3,421		3,377		1.3
Other intangibles		3		6			(50.0	)		29		31		(6.5	)
Total noninterest expense		933		926			.8			3,450		3,408		1.2
Income before provision and income taxes		1,326		1,394			(4.9	)		1,758		2,319		(24.2	)
Provision for credit losses		26		(114	)		*			332		573		(42.1	)
Income before income taxes		1,300		1,508			(13.8	)		1,426		1,746		(18.3	)
Income taxes and taxable-equivalent adjustment		473		549			(13.8	)		519		636		(18.4	)
Net income		827		959			(13.8	)		907		1,110		(18.3	)
Net (income) loss attributable to noncontrolling interests		–		–			–			–		–		–
Net income attributable to U.S. Bancorp	$	827	$	959			(13.8	)	$	907	$	1,110		(18.3	)
Average Balance Sheet
Commercial	$	57,029	$	50,232			13.5	%	$	8,903	$	8,567		3.9	%
Commercial real estate		20,879		19,375			7.8			18,771		17,741		5.8
Residential mortgages		20		27			(25.9	)		50,443		46,251		9.1
Credit card		–		–			–			–		–		–
Other retail		4		7			(42.9	)		45,964		44,739		2.7
Total loans, excluding covered loans		77,932		69,641			11.9			124,081		117,298		5.8
Covered loans		205		394			(48.0	)		5,871		6,690		(12.2	)
Total loans		78,137		70,035			11.6			129,952		123,988		4.8
Goodwill		1,621		1,604			1.1			3,577		3,516		1.7
Other intangible assets		21		26			(19.2	)		2,698		2,293		17.7
Assets		85,198		76,455			11.4			143,337		140,056		2.3
Noninterest-bearing deposits		32,029		30,299			5.7			23,218		21,976		5.7
Interest checking		11,042		10,378			6.4			35,832		32,841		9.1
Savings products		17,929		13,320			34.6			49,496		46,106		7.4
Time deposits		18,217		18,450			(1.3	)		18,080		21,591		(16.3	)
Total deposits		79,217		72,447			9.3			126,626		122,514		3.4
Total U.S. Bancorp shareholders’ equity		7,653		7,269			5.3			11,480		12,125		(5.3	)

*	Not meaningful


Wealth Management and Securities Services							Payment Services									Treasury and Corporate Support									Consolidated Company
2014		2013		Percent Change			2014			2013			Percent Change			2014			2013			Percent Change			2014			2013			Percent Change

$	96	$	82		17.1	%	$	442		$	393			12.5	%	$	618		$	580			6.6	%	$	2,748		$	2,714			1.3	%
	352		314		12.1			842			822			2.4			146			61			*			2,245			2,180			3.0
	–		–		–			–			–			–			(3	)		(3	)		–			(3	)		(3	)		–
	448		396		13.1			1,284			1,215			5.7			761			638			19.3			4,990			4,891			2.0
	335		324		3.4			582			575			1.2			173			199			(13.1	)		2,563			2,510			2.1
	8		9		(11.1	)		30			34			(11.8	)		–			–			–			51			55			(7.3	)
	343		333		3.0			612			609			.5			173			199			(13.1	)		2,614			2,565			1.9
	105		63		66.7			672			606			10.9			588			439			33.9			2,376			2,326			2.1
	6		6		–			190			172			10.5			7			(2	)		*			311			298			4.4
	99		57		73.7			482			434			11.1			581			441			31.7			2,065			2,028			1.8
	36		21		71.4			175			158			10.8			39			20			95.0			579			598			(3.2	)
	63		36		75.0			307			276			11.2			542			421			28.7			1,486			1,430			3.9
	–		–		–			(9	)		(10	)		10.0			(6	)		48			*			(15	)		38			*
$	63	$	36		75.0		$	298		$	266			12.0		$	536		$	469			14.3		$	1,471		$	1,468			.2

$	1,968	$	1,772		11.1	%	$	6,681		$	6,191			7.9	%	$	209		$	215			(2.8	)%	$	77,345		$	68,064			13.6	%
	601		655		(8.2	)		–			–			–			179			94			90.4			40,839			38,501			6.1
	1,430		984		45.3			–			–			–			1			1			–			51,994			49,139			5.8
	–		–		–			17,753			16,931			4.9			–			–			–			17,753			16,931			4.9
	1,436		1,532		(6.3	)		664			729			(8.9	)		–			–			–			48,698			46,994			3.6
	5,435		4,943		10.0			25,098			23,851			5.2			389			310			25.5			236,629			219,629			7.7
	3		17		(82.4	)		5			5			–			1,368			2,937			(53.4	)		7,238			9,733			(25.6	)
	5,438		4,960		9.6			25,103			23,856			5.2			1,757			3,247			(45.9	)		243,867			229,362			6.3
	1,572		1,533		2.5			2,517			2,509			.3			–			–			–			9,417			9,161			2.8
	155		166		(6.6	)		483			557			(13.3	)		–			2			*			3,323			3,399			(2.2	)
	8,679		7,751		12.0			31,407			30,123			4.3			112,684			95,958			17.4			385,823			352,161			9.6
	14,900		13,500		10.4			702			714			(1.7	)		1,144			653			75.2			74,126			68,264			8.6
	5,729		4,741		20.8			573			455			25.9			1			1			–			54,454			48,235			12.9
	30,373		26,326		15.4			81			60			35.0			100			80			25.0			100,865			88,065			14.5
	3,939		4,182		(5.8	)		–			–			–			1,847			542			*			41,563			47,804			(13.1	)
	54,941		48,749		12.7			1,356			1,229			10.3			3,092			1,276			*			271,008			252,368			7.4
	2,267		2,398		(5.5	)		5,690			6,102			(6.8	)		15,907			11,848			34.3			43,132			39,936			8.0


Wealth Management and Securities Services							Payment Services									Treasury and Corporate Support								Consolidated Company
2014		2013		Percent Change			2014			2013			Percent Change			2014			2013		Percent Change			2014			2013		Percent Change

$	270	$	257		5.1	%	$	1,271		$	1,168			8.8	%	$	1,895		$	1,710		10.8	%	$	8,198		$	8,095		1.3	%
	1,038		935		11.0			2,449			2,397			2.2			600			191		*			6,792			6,610		2.8
	–		–		–			–			–			–			2			8		(75.0	)		2			8		(75.0	)
	1,308		1,192		9.7			3,720			3,565			4.3			2,497			1,909		30.8			14,992			14,713		1.9
	1,002		968		3.5			1,742			1,695			2.8			668			465		43.7			7,763			7,425		4.6
	25		27		(7.4	)		91			103			(11.7	)		–			–		–			148			167		(11.4	)
	1,027		995		3.2			1,833			1,798			1.9			668			465		43.7			7,911			7,592		4.2
	281		197		42.6			1,887			1,767			6.8			1,829			1,444		26.7			7,081			7,121		(.6	)
	8		7		14.3			573			553			3.6			2			44		(95.5	)		941			1,063		(11.5	)
	273		190		43.7			1,314			1,214			8.2			1,827			1,400		30.5			6,140			6,058		1.4
	100		69		44.9			478			442			8.1			163			101		61.4			1,733			1,797		(3.6	)
	173		121		43.0			836			772			8.3			1,664			1,299		28.1			4,407			4,261		3.4
	–		–		–			(27	)		(29	)		6.9			(17	)		148		*			(44	)		119		*
$	173	$	121		43.0		$	809		$	743			8.9		$	1,647		$	1,447		13.8		$	4,363		$	4,380		(.4	)

$	1,910	$	1,686		13.3	%	$	6,402		$	6,030			6.2	%	$	180		$	204		(11.8	)%	$	74,424		$	66,719		11.5	%
	608		656		(7.3	)		–			–			–			207			100		*			40,465			37,872		6.8
	1,335		776		72.0			–			–			–			1			1		–			51,799			47,055		10.1
	–		–		–			17,516			16,627			5.3			–			–		–			17,516			16,627		5.3
	1,450		1,544		(6.1	)		680			744			(8.6	)		–			–		–			48,098			47,034		2.3
	5,303		4,662		13.7			24,598			23,401			5.1			388			305		27.2			232,302			215,307		7.9
	5		14		(64.3	)		5			5			–			1,710			3,272		(47.7	)		7,796			10,375		(24.9	)
	5,308		4,676		13.5			24,603			23,406			5.1			2,098			3,577		(41.3	)		240,098			225,682		6.4
	1,568		1,529		2.6			2,518			2,508			.4			–			–		–			9,284			9,157		1.4
	163		174		(6.3	)		494			584			(15.4	)		–			2		*			3,376			3,079		9.6
	8,409		7,514		11.9			30,901			29,659			4.2			107,202			97,364		10.1			375,047			351,048		6.8
	15,095		13,786		9.5			704			694			1.4			1,228			428		*			72,274			67,183		7.6
	5,494		4,683		17.3			559			444			25.9			1			1		–			52,928			48,347		9.5
	28,650		27,070		5.8			76			54			40.7			103			85		21.2			96,254			86,635		11.1
	4,111		5,237		(21.5	)		–			–			–			1,798			841		*			42,206			46,119		(8.5	)
	53,350		50,776		5.1			1,339			1,192			12.3			3,130			1,355		*			263,662			248,284		6.2
	2,283		2,375		(3.9	)		5,675			6,033			(5.9	)		15,407			11,873		29.8			42,498			39,675		7.1