Edition:
United States

Profile: U.S. Bancorp (USB.N)

USB.N on New York Stock Exchange

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U.S. Bancorp, incorporated on April 2, 1929, is a multi-state financial services holding company. The Company provides a full range of financial services, including lending and depository services, cash management, capital markets, and trust and investment management services. It also engages in credit card services, merchant and automated teller machine (ATM) processing, mortgage banking, insurance, brokerage and leasing. The Company's banking subsidiary, U.S. Bank National Association, is engaged in the general banking business, principally in domestic markets. U.S. Bank National Association provides a range of products and services to individuals, businesses, institutional organizations, governmental entities and other financial institutions.

U.S. Bank National Association commercial and consumer lending services are offered to customers within the Company's domestic markets, to domestic customers with foreign operations and to large national customers operating in specific industries targeted by the Company. Its lending services include traditional credit products, as well as credit card services, leasing financing and import/export trade, asset-backed lending, agricultural finance and other products. Its depository services include checking accounts, savings accounts and time certificate contracts. Ancillary services, such as capital markets, treasury management and receivable lock-box collection are provided to corporate customers. U.S. Bancorp's bank and trust subsidiaries provide a full range of asset management and fiduciary services for individuals, estates, foundations, business corporations and charitable organizations. Other U.S. Bancorp non-banking subsidiaries offer investment and insurance products to the Company's customers principally within its markets, and fund administration services to a range of mutual and other funds.

Lending Activities

As of December 31, 2016, the Company's loan portfolio was $273.2 billion. As of December 31, 2016, the Company's commercial loans amounted to approximately $88,400 million. As of December 31, 2016, its commercial real estate loans, which included commercial mortgages and construction and development loans, amounted to $ 43,098 million. As of December 31, 2016, its residential mortgages amounted to $57,274 million. As of December 31, 2016, its other retail loans, which included retail leasing, home equity and second mortgages and other retail loans amounted to $53,864 million. As of December 31, 2016, its credit card loans amounted to $21,749 million.

Investment Activities

The Company uses its investment securities portfolio to manage enterprise interest rate risk, provide liquidity, generate interest and dividend income, and as collateral for public deposits and wholesale funding sources. As of December 31, 2016, its investment securities amounted to $109.3 billion. As of December 31, 2016, its investment securities portfolio includes the United States Treasury and Agencies, which amounted to $17,314 million; mortgage-backed securities, which amounted to $43,991 million; asset-backed securities, which amounted to $475 million; obligations of state and political subdivisions, which amounted to $5,167 million, and other debt securities, which amount to approximately $11 million.

Sources of Funds

As of December 31, 2016, the Company's deposits amounted to $334,590 billion. As of December 31, 2016, its non-interest-bearing deposits amounted to approximately $86,097 million. As of December 31, 2016, its interest-bearing deposits amounted to $248,493 million. 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 $14.0 billion, as of December 31, 2016. Its long-term debt was $33.3 billion, as of December 31, 2016.

Company Address

U.S. Bancorp

800 Nicollet Mall
MINNEAPOLIS   MN   55402-7000
P: +1651.4663000
F: +1612.3030782

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