Table 11

Line of Business Financial Performance


	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Three Months Ended June 30, (Dollars in Millions)	2017			2016		Percent Change			2017		2016			Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	602		$	546		10.3	%	$	1,258	$	1,167			7.8	%
Noninterest income		238			250		(4.8	)		620		636			(2.5	)
Securities gains (losses), net		–			–		–			–		–			–
Total net revenue		840			796		5.5			1,878		1,803			4.2
Noninterest expense		399			363		9.9			1,280		1,231			4.0
Other intangibles		1			1		–			7		8			(12.5	)
Total noninterest expense		400			364		9.9			1,287		1,239			3.9
Income before provision and income taxes		440			432		1.9			591		564			4.8
Provision for credit losses		(18	)		68		*			90		44			*
Income before income taxes		458			364		25.8			501		520			(3.7	)
Income taxes and taxable-equivalent adjustment		167			132		26.5			182		189			(3.7	)
Net income		291			232		25.4			319		331			(3.6	)
Net (income) loss attributable to noncontrolling interests		–			–		–			–		–			–
Net income attributable to U.S. Bancorp	$	291		$	232		25.4		$	319	$	331			(3.6	)
Average Balance Sheet
Commercial	$	73,394		$	70,929		3.5	%	$	10,235	$	10,504			(2.6	)%
Commercial real estate		20,820			21,153		(1.6	)		18,503		18,119			2.1
Residential mortgages		6			7		(14.3	)		55,787		53,316			4.6
Credit card		–			–		–			–		–			–
Other retail		1			2		(50.0	)		52,486		49,413			6.2
Total loans, excluding covered loans		94,221			92,091		2.3			137,011		131,352			4.3
Covered loans		–			–		–			3,532		4,296			(17.8	)
Total loans		94,221			92,091		2.3			140,543		135,648			3.6
Goodwill		1,647			1,647		–			3,681		3,681			–
Other intangible assets		14			17		(17.6	)		2,730		2,399			13.8
Assets		103,099			100,475		2.6			154,245		150,588			2.4
Noninterest-bearing deposits		36,362			36,183		.5			27,304		26,951			1.3
Interest checking		9,547			8,101		17.8			47,372		43,549			8.8
Savings products		45,763			39,933		14.6			60,696		57,238			6.0
Time deposits		13,549			13,384		1.2			12,810		14,249			(10.1	)
Total deposits		105,221			97,601		7.8			148,182		141,987			4.4
Total U.S. Bancorp shareholders’ equity		9,921			8,966		10.7			11,436		11,082			3.2

	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Six Months Ended June 30, (Dollars in Millions)	2017			2016		Percent Change			2017		2016			Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,190		$	1,075		10.7	%	$	2,480	$	2,324			6.7	%
Noninterest income		482			456		5.7			1,205		1,187			1.5
Securities gains (losses), net		(3	)		–		*			–		–			–
Total net revenue		1,669			1,531		9.0			3,685		3,511			5.0
Noninterest expense		790			714		10.6			2,541		2,440			4.1
Other intangibles		2			2		–			14		16			(12.5	)
Total noninterest expense		792			716		10.6			2,555		2,456			4.0
Income before provision and income taxes		877			815		7.6			1,130		1,055			7.1
Provision for credit losses		18			269		(93.3	)		155		(23	)		*
Income before income taxes		859			546		57.3			975		1,078			(9.6	)
Income taxes and taxable-equivalent adjustment		313			198		58.1			354		392			(9.7	)
Net income		546			348		56.9			621		686			(9.5	)
Net (income) loss attributable to noncontrolling interests		–			–		–			–		–			–
Net income attributable to U.S. Bancorp	$	546		$	348		56.9		$	621	$	686			(9.5	)
Average Balance Sheet
Commercial	$	72,906		$	70,212		3.8	%	$	10,076	$	10,276			(1.9	)%
Commercial real estate		21,062			20,897		.8			18,527		18,070			2.5
Residential mortgages		7			7		–			55,519		52,720			5.3
Credit card		–			–		–			–		–			–
Other retail		1			2		(50.0	)		52,089		49,208			5.9
Total loans, excluding covered loans		93,976			91,118		3.1			136,211		130,274			4.6
Covered loans		–			–		–			3,624		4,381			(17.3	)
Total loans		93,976			91,118		3.1			139,835		134,655			3.8
Goodwill		1,647			1,647		–			3,681		3,681			–
Other intangible assets		14			18		(22.2	)		2,749		2,456			11.9
Assets		102,706			99,459		3.3			153,954		149,299			3.1
Noninterest-bearing deposits		36,622			36,441		.5			27,136		26,457			2.6
Interest checking		9,402			7,481		25.7			46,846		42,841			9.3
Savings products		47,274			37,879		24.8			60,298		56,678			6.4
Time deposits		13,015			12,752		2.1			13,011		14,448			(9.9	)
Total deposits		106,313			94,553		12.4			147,291		140,424			4.9
Total U.S. Bancorp shareholders’ equity		9,801			8,892		10.2			11,479		11,051			3.9

*	Not meaningful


Wealth Management and Securities Services									Payment Services									Treasury and Corporate Support									Consolidated Company
2017			2016			Percent Change			2017			2016			Percent Change			2017			2016			Percent Change			2017			2016			Percent Change

$	187		$	122			53.3	%	$	540		$	513			5.3	%	$	481		$	548			(12.2	)%	$	3,068		$	2,896			5.9	%
	413			401			3.0			909			923			(1.5	)		230			339			(32.2	)		2,410			2,549			(5.5	)
	–			–			–			–			–			–			9			3			*			9			3			*
	600			523			14.7			1,449			1,436			.9			720			890			(19.1	)		5,487			5,448			.7
	401			366			9.6			722			678			6.5			178			310			(42.6	)		2,980			2,948			1.1
	5			6			(16.7	)		30			29			3.4			–			–			–			43			44			(2.3	)
	406			372			9.1			752			707			6.4			178			310			(42.6	)		3,023			2,992			1.0
	194			151			28.5			697			729			(4.4	)		542			580			(6.6	)		2,464			2,456			.3
	(1	)		1			*			283			215			31.6			(4	)		(1	)		*			350			327			7.0
	195			150			30.0			414			514			(19.5	)		546			581			(6.0	)		2,114			2,129			(.7	)
	71			55			29.1			151			187			(19.3	)		31			30			3.3			602			593			1.5
	124			95			30.5			263			327			(19.6	)		515			551			(6.5	)		1,512			1,536			(1.6	)
	–			–			–			(6	)		(8	)		25.0			(6	)		(6	)		–			(12	)		(14	)		14.3
$	124		$	95			30.5		$	257		$	319			(19.4	)	$	509		$	545			(6.6	)	$	1,500		$	1,522			(1.4	)

$	3,374		$	2,835			19.0	%	$	7,975		$	7,522			6.0	%	$	660		$	364			81.3	%	$	95,638		$	92,154			3.8	%
	507			521			(2.7	)		–			–			–			2,719			3,195			(14.9	)		42,549			42,988			(1.0	)
	2,751			2,178			26.3			–			–			–			–			–			–			58,544			55,501			5.5
	–			–			–			20,631			20,140			2.4			–			–			–			20,631			20,140			2.4
	1,676			1,522			10.1			464			531			(12.6	)		–			–			–			54,627			51,468			6.1
	8,308			7,056			17.7			29,070			28,193			3.1			3,379			3,559			(5.1	)		271,989			262,251			3.7
	–			–			–			–			–			–			7			35			(80.0	)		3,539			4,331			(18.3	)
	8,308			7,056			17.7			29,070			28,193			3.1			3,386			3,594			(5.8	)		275,528			266,582			3.4
	1,567			1,568			(.1	)		2,458			2,472			(.6	)		–			–			–			9,353			9,368			(.2	)
	83			104			(20.2	)		408			506			(19.4	)		–			–			–			3,235			3,026			6.9
	11,427			10,081			13.4			34,805			33,997			2.4			142,529			133,609			6.7			446,105			428,750			4.0
	15,971			13,096			22.0			1,015			925			9.7			2,058			2,016			2.1			82,710			79,171			4.5
	10,321			9,148			12.8			–			–			–			50			44			13.6			67,290			60,842			10.6
	43,300			35,393			22.3			102			97			5.2			440			501			(12.2	)		150,301			133,162			12.9
	4,286			3,908			9.7			–			–			–			226			2,670			(91.5	)		30,871			34,211			(9.8	)
	73,878			61,545			20.0			1,117			1,022			9.3			2,774			5,231			(47.0	)		331,172			307,386			7.7
	2,365			2,385			(.8	)		6,230			6,376			(2.3	)		18,321			18,375			(.3	)		48,273			47,184			2.3

Wealth Management and Securities Services									Payment Services									Treasury and Corporate Support									Consolidated Company
2017			2016			Percent Change			2017			2016			Percent Change			2017			2016			Percent Change			2017			2016			Percent Change

$	366		$	239			53.1	%	$	1,089		$	1,041			4.6	%	$	938		$	1,105			(15.1	)%	$	6,063		$	5,784			4.8	%
	811			780			4.0			1,766			1,739			1.6			446			533			(16.3	)		4,710			4,695			.3
	–			–			–			–			–			–			41			6			*			38			6			*
	1,177			1,019			15.5			2,855			2,780			2.7			1,425			1,644			(13.3	)		10,811			10,485			3.1
	804			740			8.6			1,423			1,337			6.4			322			421			(23.5	)		5,880			5,652			4.0
	10			12			(16.7	)		61			59			3.4			–			–			–			87			89			(2.2	)
	814			752			8.2			1,484			1,396			6.3			322			421			(23.5	)		5,967			5,741			3.9
	363			267			36.0			1,371			1,384			(.9	)		1,103			1,223			(9.8	)		4,844			4,744			2.1
	–			(1	)		*			524			407			28.7			(2	)		5			*			695			657			5.8
	363			268			35.4			847			977			(13.3	)		1,105			1,218			(9.3	)		4,149			4,087			1.5
	132			98			34.7			309			355			(13.0	)		43			107			(59.8	)		1,151			1,150			.1
	231			170			35.9			538			622			(13.5	)		1,062			1,111			(4.4	)		2,998			2,937			2.1
	–			–			–			(13	)		(17	)		23.5			(12	)		(12	)		–			(25	)		(29	)		13.8
$	231		$	170			35.9		$	525		$	605			(13.2	)	$	1,050		$	1,099			(4.5	)	$	2,973		$	2,908			2.2

$	3,282		$	2,865			14.6	%	$	7,794		$	7,272			7.2	%	$	636		$	362			75.7	%	$	94,694		$	90,987			4.1	%
	510			530			(3.8	)		–			–			–			2,753			3,197			(13.9	)		42,852			42,694			.4
	2,698			2,127			26.8			–			–			–			–			–			–			58,224			54,854			6.1
	–			–			–			20,737			20,192			2.7			–			–			–			20,737			20,192			2.7
	1,646			1,532			7.4			472			541			(12.8	)		–			–			–			54,208			51,283			5.7
	8,136			7,054			15.3			29,003			28,005			3.6			3,389			3,559			(4.8	)		270,715			260,010			4.1
	–			–			–			–			–			–			11			41			(73.2	)		3,635			4,422			(17.8	)
	8,136			7,054			15.3			29,003			28,005			3.6			3,400			3,600			(5.6	)		274,350			264,432			3.8
	1,567			1,568			(.1	)		2,455			2,467			(.5	)		–			–			–			9,350			9,363			(.1	)
	85			107			(20.6	)		422			506			(16.6	)		–			–			–			3,270			3,087			5.9
	11,435			10,188			12.2			34,696			33,998			2.1			140,930			132,209			6.6			443,721			425,153			4.4
	14,925			12,995			14.9			1,019			943			8.1			2,027			2,034			(.3	)		81,729			78,870			3.6
	10,197			9,010			13.2			–			–			–			45			44			2.3			66,490			59,376			12.0
	42,713			34,287			24.6			101			96			5.2			446			497			(10.3	)		150,832			129,437			16.5
	4,520			3,727			21.3			–			–			–			213			3,022			(93.0	)		30,759			33,949			(9.4	)
	72,355			60,019			20.6			1,120			1,039			7.8			2,731			5,597			(51.2	)		329,810			301,632			9.3
	2,383			2,380			.1			6,318			6,351			(.5	)		18,118			18,287			(.9	)		48,099			46,961			2.4