Table 11

Line of Business Financial Performance


	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Three Months Ended September 30, (Dollars in Millions)	2017			2016		Percent Change			2017		2016		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	616		$	563		9.4	%	$	1,309	$	1,199		9.2	%
Noninterest income		215			220		(2.3	)		632		712		(11.2	)
Securities gains (losses), net		–			–		–			–		–		–
Total net revenue		831			783		6.1			1,941		1,911		1.6
Noninterest expense		396			355		11.5			1,266		1,293		(2.1	)
Other intangibles		1			1		–			8		8		–
Total noninterest expense		397			356		11.5			1,274		1,301		(2.1	)
Income before provision and income taxes		434			427		1.6			667		610		9.3
Provision for credit losses		(9	)		73		*			97		45		*
Income before income taxes		443			354		25.1			570		565		.9
Income taxes and taxable-equivalent adjustment		161			129		24.8			207		206		.5
Net income		282			225		25.3			363		359		1.1
Net (income) loss attributable to noncontrolling interests		–			–		–			–		–		–
Net income attributable to U.S. Bancorp	$	282		$	225		25.3		$	363	$	359		1.1
Average Balance Sheet
Commercial	$	73,882		$	70,814		4.3	%	$	10,317	$	10,546		(2.2	)%
Commercial real estate		20,115			21,466		(6.3	)		18,353		18,307		.3
Residential mortgages		6			8		(25.0	)		56,131		53,933		4.1
Credit card		–			–		–			–		–		–
Other retail		–			2		*			53,932		50,786		6.2
Total loans, excluding covered loans		94,003			92,290		1.9			138,733		133,572		3.9
Covered loans		–			–		–			3,347		4,107		(18.5	)
Total loans		94,003			92,290		1.9			142,080		137,679		3.2
Goodwill		1,647			1,647		–			3,681		3,681		–
Other intangible assets		13			16		(18.8	)		2,701		2,270		19.0
Assets		102,327			100,864		1.5			156,737		153,501		2.1
Noninterest-bearing deposits		35,353			36,685		(3.6	)		28,705		28,355		1.2
Interest checking		9,710			9,629		.8			47,401		43,834		8.1
Savings products		45,143			44,301		1.9			60,821		57,759		5.3
Time deposits		19,611			13,489		45.4			12,899		14,282		(9.7	)
Total deposits		109,817			104,104		5.5			149,826		144,230		3.9
Total U.S. Bancorp shareholders’ equity		9,952			8,997		10.6			11,489		11,312		1.6

	Wholesale Banking and Commercial Real Estate								Consumer and Small Business Banking
Nine Months Ended September 30, (Dollars in Millions)	2017			2016		Percent Change			2017		2016		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,806		$	1,638		10.3	%	$	3,789	$	3,523		7.6	%
Noninterest income		697			676		3.1			1,837		1,899		(3.3	)
Securities gains (losses), net		(3	)		–		*			–		–		–
Total net revenue		2,500			2,314		8.0			5,626		5,422		3.8
Noninterest expense		1,188			1,066		11.4			3,821		3,746		2.0
Other intangibles		3			3		–			22		24		(8.3	)
Total noninterest expense		1,191			1,069		11.4			3,843		3,770		1.9
Income before provision and income taxes		1,309			1,245		5.1			1,783		1,652		7.9
Provision for credit losses		9			342		(97.4	)		252		22		*
Income before income taxes		1,300			903		44.0			1,531		1,630		(6.1	)
Income taxes and taxable-equivalent adjustment		473			329		43.8			557		594		(6.2	)
Net income		827			574		44.1			974		1,036		(6.0	)
Net (income) loss attributable to noncontrolling interests		–			–		–			–		–		–
Net income attributable to U.S. Bancorp	$	827		$	574		44.1		$	974	$	1,036		(6.0	)
Average Balance Sheet
Commercial	$	73,236		$	70,414		4.0	%	$	10,157	$	10,367		(2.0	)%
Commercial real estate		20,742			21,089		(1.6	)		18,469		18,150		1.8
Residential mortgages		7			7		–			55,725		53,127		4.9
Credit card		–			–		–			–		–		–
Other retail		1			2		(50.0	)		52,710		49,738		6.0
Total loans, excluding covered loans		93,986			91,512		2.7			137,061		131,382		4.3
Covered loans		–			–		–			3,531		4,289		(17.7	)
Total loans		93,986			91,512		2.7			140,592		135,671		3.6
Goodwill		1,647			1,647		–			3,682		3,681		–
Other intangible assets		14			17		(17.6	)		2,733		2,394		14.2
Assets		102,580			99,932		2.6			154,894		150,711		2.8
Noninterest-bearing deposits		36,217			36,543		(.9	)		27,666		27,092		2.1
Interest checking		9,505			8,202		15.9			47,035		43,184		8.9
Savings products		46,563			40,043		16.3			60,452		57,035		6.0
Time deposits		15,238			12,999		17.2			12,975		14,394		(9.9	)
Total deposits		107,523			97,787		10.0			148,128		141,705		4.5
Total U.S. Bancorp shareholders’ equity		9,852			8,927		10.4			11,482		11,138		3.1

*	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

$	192	$	135			42.2	%	$	563		$	538			4.6	%	$	506		$	508			(.4	)%	$	3,186		$	2,943			8.3	%
	411		403			2.0			920			912			.9			235			188			25.0			2,413			2,435			(.9	)
	–		–			–			–			–			–			9			10			(10.0	)		9			10			(10.0	)
	603		538			12.1			1,483			1,450			2.3			750			706			6.2			5,608			5,388			4.1
	401		384			4.4			707			662			6.8			225			192			17.2			2,995			2,886			3.8
	5		6			(16.7	)		30			30			–			–			–			–			44			45			(2.2	)
	406		390			4.1			737			692			6.5			225			192			17.2			3,039			2,931			3.7
	197		148			33.1			746			758			(1.6	)		525			514			2.1			2,569			2,457			4.6
	1		(1	)		*			270			208			29.8			1			–			*			360			325			10.8
	196		149			31.5			476			550			(13.5	)		524			514			1.9			2,209			2,132			3.6
	71		54			31.5			173			200			(13.5	)		28			27			3.7			640			616			3.9
	125		95			31.6			303			350			(13.4	)		496			487			1.8			1,569			1,516			3.5
	–		–			–			–			(8	)		*			(6	)		(6	)		–			(6	)		(14	)		57.1
$	125	$	95			31.6		$	303		$	342			(11.4	)	$	490		$	481			1.9		$	1,563		$	1,502			4.1

$	3,504	$	2,892			21.2	%	$	8,233		$	7,766			6.0	%	$	697		$	351			98.6	%	$	96,633		$	92,369			4.6	%
	514		516			(.4	)		–			–			–			2,639			3,085			(14.5	)		41,621			43,374			(4.0	)
	2,893		2,343			23.5			–			–			–			–			–			–			59,030			56,284			4.9
	–		–			–			20,926			20,628			1.4			–			–			–			20,926			20,628			1.4
	1,684		1,548			8.8			453			515			(12.0	)		–			–			–			56,069			52,851			6.1
	8,595		7,299			17.8			29,612			28,909			2.4			3,336			3,436			(2.9	)		274,279			265,506			3.3
	–		–			–			–			–			–			–			24			*			3,347			4,131			(19.0	)
	8,595		7,299			17.8			29,612			28,909			2.4			3,336			3,460			(3.6	)		277,626			269,637			3.0
	1,568		1,567			.1			2,469			2,463			.2			–			–			–			9,365			9,358			.1
	79		99			(20.2	)		385			494			(22.1	)		–			–			–			3,178			2,879			10.4
	11,495		10,383			10.7			35,035			34,715			.9			145,036			138,400			4.8			450,630			437,863			2.9
	14,715		13,803			6.6			1,029			954			7.9			2,162			2,224			(2.8	)		81,964			82,021			(.1	)
	10,917		9,958			9.6			–			–			–			38			35			8.6			68,066			63,456			7.3
	42,209		37,966			11.2			103			98			5.1			445			492			(9.6	)		148,721			140,616			5.8
	3,521		3,776			(6.8	)		–			–			–			369			908			(59.4	)		36,400			32,455			12.2
	71,362		65,503			8.9			1,132			1,052			7.6			3,014			3,659			(17.6	)		335,151			318,548			5.2
	2,381		2,378			.1			6,206			6,385			(2.8	)		18,791			18,719			.4			48,819			47,791			2.2

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

$	558	$	374			49.2	%	$	1,653		$	1,579			4.7	%	$	1,443		$	1,613			(10.5	)%	$	9,249		$	8,727			6.0	%
	1,222		1,183			3.3			2,686			2,651			1.3			681			721			(5.5	)		7,123			7,130			(.1	)
	–		–			–			–			–			–			50			16			*			47			16			*
	1,780		1,557			14.3			4,339			4,230			2.6			2,174			2,350			(7.5	)		16,419			15,873			3.4
	1,194		1,113			7.3			2,069			1,941			6.6			603			672			(10.3	)		8,875			8,538			3.9
	15		18			(16.7	)		91			89			2.2			–			–			–			131			134			(2.2	)
	1,209		1,131			6.9			2,160			2,030			6.4			603			672			(10.3	)		9,006			8,672			3.9
	571		426			34.0			2,179			2,200			(1.0	)		1,571			1,678			(6.4	)		7,413			7,201			2.9
	1		(2	)		*			794			615			29.1			(1	)		5			*			1,055			982			7.4
	570		428			33.2			1,385			1,585			(12.6	)		1,572			1,673			(6.0	)		6,358			6,219			2.2
	207		155			33.5			504			577			(12.7	)		50			111			(55.0	)		1,791			1,766			1.4
	363		273			33.0			881			1,008			(12.6	)		1,522			1,562			(2.6	)		4,567			4,453			2.6
	–		–			–			(13	)		(25	)		48.0			(18	)		(18	)		–			(31	)		(43	)		27.9
$	363	$	273			33.0		$	868		$	983			(11.7	)	$	1,504		$	1,544			(2.6	)	$	4,536		$	4,410			2.9

$	3,356	$	2,874			16.8	%	$	7,942		$	7,438			6.8	%	$	656		$	358			83.2	%	$	95,347		$	91,451			4.3	%
	511		524			(2.5	)		–			–			–			2,715			3,159			(14.1	)		42,437			42,922			(1.1	)
	2,764		2,200			25.6			–			–			–			–			–			–			58,496			55,334			5.7
	–		–			–			20,801			20,339			2.3			–			–			–			20,801			20,339			2.3
	1,658		1,537			7.9			466			532			(12.4	)		–			–			–			54,835			51,809			5.8
	8,289		7,135			16.2			29,209			28,309			3.2			3,371			3,517			(4.2	)		271,916			261,855			3.8
	–		–			–			–			–			–			7			35			(80.0	)		3,538			4,324			(18.2	)
	8,289		7,135			16.2			29,209			28,309			3.2			3,378			3,552			(4.9	)		275,454			266,179			3.5
	1,567		1,567			–			2,459			2,466			(.3	)		–			–			–			9,355			9,361			(.1	)
	83		104			(20.2	)		409			502			(18.5	)		–			–			–			3,239			3,017			7.4
	11,454		10,251			11.7			34,794			34,226			1.7			142,327			134,301			6.0			446,049			429,421			3.9
	14,836		13,249			12.0			1,023			947			8.0			2,066			2,097			(1.5	)		81,808			79,928			2.4
	10,438		9,319			12.0			–			–			–			43			41			4.9			67,021			60,746			10.3
	42,559		35,520			19.8			101			97			4.1			446			496			(10.1	)		150,121			133,191			12.7
	4,182		3,742			11.8			–			–			–			265			2,312			(88.5	)		32,660			33,447			(2.4	)
	72,015		61,830			16.5			1,124			1,044			7.7			2,820			4,946			(43.0	)		331,610			307,312			7.9
	2,383		2,379			.2			6,280			6,361			(1.3	)		18,345			18,435			(.5	)		48,342			47,240			2.3