Line of Business Financial Performance


	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Three Months Ended June 30 (Dollars in Millions)	2014		2013			Percent Change			2014		2013		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	513	$	501			2.4	%	$	1,077	$	1,143		(5.8	)%
Noninterest income		260		275			(5.5	)		678		771		(12.1	)
Securities gains (losses), net		–		–			–			–		–		–
Total net revenue		773		776			(.4	)		1,755		1,914		(8.3	)
Noninterest expense		316		310			1.9			1,134		1,123		1.0
Other intangibles		1		2			(50.0	)		8		10		(20.0	)
Total noninterest expense		317		312			1.6			1,142		1,133		.8
Income before provision and income taxes		456		464			(1.7	)		613		781		(21.5	)
Provision for credit losses		15		(37	)		*			120		182		(34.1	)
Income before income taxes		441		501			(12.0	)		493		599		(17.7	)
Income taxes and taxable-equivalent adjustment		160		182			(12.1	)		179		218		(17.9	)
Net income		281		319			(11.9	)		314		381		(17.6	)
Net (income) loss attributable to noncontrolling interests		–		–			–			–		–		–
Net income attributable to U.S. Bancorp	$	281	$	319			(11.9	)	$	314	$	381		(17.6	)
Average Balance Sheet
Commercial	$	57,472	$	50,238			14.4	%	$	8,947	$	8,616		3.8	%
Commercial real estate		20,884		19,435			7.5			18,800		17,690		6.3
Residential mortgages		20		28			(28.6	)		50,485		46,085		9.5
Credit card		–		–			–			–		–		–
Other retail		4		7			(42.9	)		45,804		44,570		2.8
Total loans, excluding covered loans		78,380		69,708			12.4			124,036		116,961		6.0
Covered loans		196		377			(48.0	)		5,882		6,713		(12.4	)
Total loans		78,576		70,085			12.1			129,918		123,674		5.0
Goodwill		1,604		1,604			–			3,539		3,515		.7
Other intangible assets		21		26			(19.2	)		2,690		2,208		21.8
Assets		85,794		76,900			11.6			142,708		139,313		2.4
Noninterest-bearing deposits		31,258		30,199			3.5			22,900		21,886		4.6
Interest checking		11,379		10,233			11.2			35,683		33,041		8.0
Savings products		17,607		12,986			35.6			49,103		46,145		6.4
Time deposits		18,309		16,448			11.3			17,720		21,626		(18.1	)
Total deposits		78,553		69,866			12.4			125,406		122,698		2.2
Total U.S. Bancorp shareholders’ equity		7,656		7,288			5.0			11,380		12,112		(6.0	)


	Wholesale Banking and Commercial Real Estate									Consumer and Small Business Banking
Six Months Ended June 30 (Dollars in Millions)	2014			2013			Percent Change			2014		2013		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,003		$	995			.8	%	$	2,167	$	2,306		(6.0	)%
Noninterest income		505			555			(9.0	)		1,295		1,549		(16.4	)
Securities gains (losses), net		–			–			–			–		–		–
Total net revenue		1,508			1,550			(2.7	)		3,462		3,855		(10.2	)
Noninterest expense		626			618			1.3			2,259		2,269		(.4	)
Other intangibles		2			4			(50.0	)		16		21		(23.8	)
Total noninterest expense		628			622			1.0			2,275		2,290		(.7	)
Income before provision and income taxes		880			928			(5.2	)		1,187		1,565		(24.2	)
Provision for credit losses		(3	)		(73	)		95.9			253		410		(38.3	)
Income before income taxes		883			1,001			(11.8	)		934		1,155		(19.1	)
Income taxes and taxable-equivalent adjustment		321			364			(11.8	)		339		420		(19.3	)
Net income		562			637			(11.8	)		595		735		(19.0	)
Net (income) loss attributable to noncontrolling interests		–			–			–			–		–		–
Net income attributable to U.S. Bancorp	$	562		$	637			(11.8	)	$	595	$	735		(19.0	)
Average Balance Sheet
Commercial	$	55,989		$	49,688			12.7	%	$	8,642	$	8,558		1.0	%
Commercial real estate		20,729			19,216			7.9			18,712		17,577		6.5
Residential mortgages		21			28			(25.0	)		50,391		45,297		11.2
Credit card		–			–			–			–		–		–
Other retail		4			8			(50.0	)		45,644		44,744		2.0
Total loans, excluding covered loans		76,743			68,940			11.3			123,389		116,176		6.2
Covered loans		220			422			(47.9	)		5,965		6,820		(12.5	)
Total loans		76,963			69,362			11.0			129,354		122,996		5.2
Goodwill		1,604			1,604			–			3,527		3,515		.3
Other intangible assets		21			27			(22.2	)		2,715		2,113		28.5
Assets		84,029			75,816			10.8			142,203		139,769		1.7
Noninterest-bearing deposits		31,737			30,057			5.6			22,425		21,623		3.7
Interest checking		10,925			10,555			3.5			35,270		32,716		7.8
Savings products		17,373			12,445			39.6			48,578		45,859		5.9
Time deposits		18,347			16,461			11.5			18,211		22,033		(17.3	)
Total deposits		78,382			69,518			12.8			124,484		122,231		1.8
Total U.S. Bancorp shareholders’ equity		7,591			7,219			5.2			11,474		12,076		(5.0	)


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

$	91	$	87		4.6	%	$	415		$	387			7.2	%	$	648		$	554			17.0	%	$	2,744		$	2,672		2.7	%
	347		318		9.1			832			828			.5			327			78			*			2,444			2,270		7.7
	–		–		–			–			–			–			–			6			*			–			6		*
	438		405		8.1			1,247			1,215			2.6			975			638			52.8			5,188			4,948		4.9
	335		320		4.7			574			566			1.4			346			183			89.1			2,705			2,502		8.1
	9		9		–			30			34			(11.8	)		–			–			–			48			55		(12.7	)
	344		329		4.6			604			600			.7			346			183			89.1			2,753			2,557		7.7
	94		76		23.7			643			615			4.6			629			455			38.2			2,435			2,391		1.8
	6		1		*			182			176			3.4			1			40			(97.5	)		324			362		(10.5	)
	88		75		17.3			461			439			5.0			628			415			51.3			2,111			2,029		4.0
	32		27		18.5			168			160			5.0			63			(2	)		*			602			585		2.9
	56		48		16.7			293			279			5.0			565			417			35.5			1,509			1,444		4.5
	–		–		–			(9	)		(10	)		10.0			(5	)		50			*			(14	)		40		*
$	56	$	48		16.7		$	284		$	269			5.6		$	560		$	467			19.9		$	1,495		$	1,484		.7

$	1,918	$	1,667		15.1	%	$	6,522		$	6,035			8.1	%	$	161		$	206			(21.8	)%	$	75,020		$	66,762		12.4	%
	608		658		(7.6	)		–			–			–			205			101			*			40,497			37,884		6.9
	1,309		759		72.5			–			–			–			1			1			–			51,815			46,873		10.5
	–		–		–			17,384			16,416			5.9			–			–			–			17,384			16,416		5.9
	1,442		1,548		(6.8	)		678			741			(8.5	)		–			–			–			47,928			46,866		2.3
	5,277		4,632		13.9			24,584			23,192			6.0			367			308			19.2			232,644			214,801		8.3
	6		15		(60.0	)		5			5			–			1,747			3,275			(46.7	)		7,836			10,385		(24.5	)
	5,283		4,647		13.7			24,589			23,197			6.0			2,114			3,583			(41.0	)		240,480			225,186		6.8
	1,565		1,527		2.5			2,520			2,508			.5			–			–			–			9,228			9,154		.8
	164		173		(5.2	)		490			585			(16.2	)		–			2			*			3,365			2,994		12.4
	8,327		7,501		11.0			30,913			29,402			5.1			107,027			96,473			10.9			374,769			349,589		7.2
	15,674		13,812		13.5			711			675			5.3			1,294			294			*			71,837			66,866		7.4
	5,363		4,680		14.6			563			448			25.7			1			1			–			52,989			48,403		9.5
	28,469		28,031		1.6			76			54			40.7			106			81			30.9			95,361			87,297		9.2
	4,238		5,592		(24.2	)		–			–			–			1,897			1,153			64.5			42,164			44,819		(5.9	)
	53,744		52,115		3.1			1,350			1,177			14.7			3,298			1,529			*			262,351			247,385		6.0
	2,285		2,368		(3.5	)		5,664			6,033			(6.1	)		15,601			12,103			28.9			42,586			39,904		6.7


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

$	174	$	175		(.6	)%	$	829		$	775			7.0	%	$	1,277		$	1,130		13.0	%	$	5,450		$	5,381		1.3	%
	686		621		10.5			1,607			1,575			2.0			454			130		*			4,547			4,430		2.6
	–		–		–			–			–			–			5			11		(54.5	)		5			11		(54.5	)
	860		796		8.0			2,436			2,350			3.7			1,736			1,271		36.6			10,002			9,822		1.8
	670		644		4.0			1,145			1,117			2.5			500			267		87.3			5,200			4,915		5.8
	18		18		–			61			69			(11.6	)		–			–		–			97			112		(13.4	)
	688		662		3.9			1,206			1,186			1.7			500			267		87.3			5,297			5,027		5.4
	172		134		28.4			1,230			1,164			5.7			1,236			1,004		23.1			4,705			4,795		(1.9	)
	2		1		*			383			381			.5			(5	)		46		*			630			765		(17.6	)
	170		133		27.8			847			783			8.2			1,241			958		29.5			4,075			4,030		1.1
	62		48		29.2			308			285			8.1			124			82		51.2			1,154			1,199		(3.8	)
	108		85		27.1			539			498			8.2			1,117			876		27.5			2,921			2,831		3.2
	–		–		–			(18	)		(19	)		5.3			(11	)		100		*			(29	)		81		*
$	108	$	85		27.1		$	521		$	479			8.8		$	1,106		$	976		13.3		$	2,892		$	2,912		(.7	)

$	1,881	$	1,642		14.6	%	$	6,261		$	5,948			5.3	%	$	166		$	198		(16.2	)%	$	72,939		$	66,034		10.5	%
	613		657		(6.7	)		–			–			–			221			103		*			40,275			37,553		7.2
	1,287		670		92.1			–			–			–			1			1		–			51,700			45,996		12.4
	–		–		–			17,395			16,472			5.6			–			–		–			17,395			16,472		5.6
	1,457		1,551		(6.1	)		688			752			(8.5	)		–			–		–			47,793			47,055		1.6
	5,238		4,520		15.9			24,344			23,172			5.1			388			302		28.5			230,102			213,110		8.0
	6		12		(50.0	)		5			5			–			1,884			3,442		(45.3	)		8,080			10,701		(24.5	)
	5,244		4,532		15.7			24,349			23,177			5.1			2,272			3,744		(39.3	)		238,182			223,811		6.4
	1,566		1,527		2.6			2,519			2,508			.4			–			–		–			9,216			9,154		.7
	167		177		(5.6	)		499			598			(16.6	)		1			2		(50.0	)		3,403			2,917		16.7
	8,274		7,394		11.9			30,643			29,422			4.1			104,420			98,082		6.5			369,569			350,483		5.4
	15,196		13,957		8.9			704			683			3.1			1,271			314		*			71,333			66,634		7.1
	5,405		4,693		15.2			551			439			25.5			1			1		–			52,152			48,404		7.7
	27,782		27,466		1.2			73			50			46.0			104			88		18.2			93,910			85,908		9.3
	4,202		5,775		(27.2	)		–			–			–			1,773			993		78.5			42,533			45,262		(6.0	)
	52,585		51,891		1.3			1,328			1,172			13.3			3,149			1,396		*			259,928			246,208		5.6
	2,290		2,364		(3.1	)		5,660			5,997			(5.6	)		15,161			11,887		27.5			42,176			39,543		6.7

*	Not meaningful