
	Corporate and Commercial Banking									Consumer and Business Banking
Three Months Ended June 30 (Dollars in Millions)	2019			2018			Percent Change			2019		2018		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	718		$	726			(1.1	)%	$	1,581	$	1,519		4.1	%
Noninterest income		245			223			9.9			567		594		(4.5	)
Securities gains (losses), net		–			–			–			–		–		–
Total net revenue		963			949			1.5			2,148		2,113		1.7
Noninterest expense		409			405			1.0			1,318		1,327		(.7	)
Other intangibles		1			1			–			5		7		(28.6	)
Total noninterest expense		410			406			1.0			1,323		1,334		(.8	)
Income before provision and income taxes		553			543			1.8			825		779		5.9
Provision for credit losses		(2	)		(12	)		83.3			79		55		43.6
Income before income taxes		555			555			–			746		724		3.0
Income taxes and taxable-equivalent adjustment		139			139			–			187		181		3.3
Net income		416			416			–			559		543		2.9
Net (income) loss attributable to noncontrolling interests		–			–			–			–		–		–
Net income attributable to U.S. Bancorp	$	416		$	416			–		$	559	$	543		2.9
Average Balance Sheet
Commercial	$	78,067		$	74,757			4.4	%	$	9,709	$	9,792		(.8	)%
Commercial real estate		18,514			18,690			(.9	)		16,043		16,307		(1.6	)
Residential mortgages		6			6			–			63,073		57,578		9.5
Credit card		–			–			–			–		–		–
Other retail		1			1			–			54,889		53,330		2.9
Covered loans		–			–			–			–		2,897		*
Total loans		96,588			93,454			3.4			143,714		139,904		2.7
Goodwill		1,647			1,647			–			3,475		3,632		(4.3	)
Other intangible assets		9			11			(18.2	)		2,717		2,932		(7.3	)
Assets		106,680			102,521			4.1			157,384		154,579		1.8
Noninterest-bearing deposits		28,874			33,314			(13.3	)		27,060		27,348		(1.1	)
Interest checking		10,552			9,544			10.6			51,372		50,512		1.7
Savings products		42,325			42,448			(.3	)		62,041		61,936		.2
Time deposits		17,813			18,370			(3.0	)		15,470		12,773		21.1
Total deposits		99,564			103,676			(4.0	)		155,943		152,569		2.2
Total U.S. Bancorp shareholders’ equity		10,362			10,498			(1.3	)		11,737		11,855		(1.0	)

	Corporate and Commercial Banking									Consumer and Business Banking
Six Months Ended June 30 (Dollars in Millions)	2019			2018			Percent Change			2019		2018		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	1,444		$	1,448			(.3	)%	$	3,148	$	3,031		3.9	%
Noninterest income		454			430			5.6			1,102		1,171		(5.9	)
Securities gains (losses), net		–			–			–			–		–		–
Total net revenue		1,898			1,878			1.1			4,250		4,202		1.1
Noninterest expense		818			801			2.1			2,605		2,628		(.9	)
Other intangibles		2			2			–			10		14		(28.6	)
Total noninterest expense		820			803			2.1			2,615		2,642		(1.0	)
Income before provision and income taxes		1,078			1,075			.3			1,635		1,560		4.8
Provision for credit losses		(13	)		2			*			149		110		35.5
Income before income taxes		1,091			1,073			1.7			1,486		1,450		2.5
Income taxes and taxable-equivalent adjustment		273			269			1.5			372		363		2.5
Net income		818			804			1.7			1,114		1,087		2.5
Net (income) loss attributable to noncontrolling interests		–			–			–			–		–		–
Net income attributable to U.S. Bancorp	$	818		$	804			1.7		$	1,114	$	1,087		2.5
Average Balance Sheet
Commercial	$	77,914		$	74,757			4.2	%	$	9,581	$	9,722		(1.5	)%
Commercial real estate		18,579			18,908			(1.7	)		16,024		16,363		(2.1	)
Residential mortgages		6			6			–			62,493		57,315		9.0
Credit card		–			–			–			–		–		–
Other retail		1			1			–			54,642		54,123		1.0
Covered loans		–			–			–			–		2,972		*
Total loans		96,500			93,672			3.0			142,740		140,495		1.6
Goodwill		1,647			1,647			–			3,475		3,632		(4.3	)
Other intangible assets		9			11			(18.2	)		2,799		2,902		(3.5	)
Assets		105,915			102,551			3.3			156,039		154,999		.7
Noninterest-bearing deposits		29,424			33,779			(12.9	)		26,809		27,289		(1.8	)
Interest checking		11,150			9,518			17.1			51,238		49,904		2.7
Savings products		41,739			43,187			(3.4	)		61,709		61,608		.2
Time deposits		18,003			17,451			3.2			15,135		12,673		19.4
Total deposits		100,316			103,935			(3.5	)		154,891		151,474		2.3
Total U.S. Bancorp shareholders’ equity		10,400			10,457			(.5	)		11,739		11,845		(.9	)

*	Not meaningful

(a)	Presented net of related rewards and rebate costs and certain partner payments of $566 million and $533 million for the three months ended June 30, 2019 and 2018, respectively, and $1.1 billion for both the six months ended June 30, 2019 and 2018.

(b)	Includes revenue generated from certain contracts with customers of $1.9 billion for both the three months ended June 30, 2019 and 2018, and $3.6 billion and $3.7 billion for the six months ended June 30, 2019 and 2018, respectively.


Wealth Management and Investment Services								Payment Services									Treasury and Corporate Support									Consolidated Company
2019			2018		Percent Change			2019			2018			Percent Change			2019			2018			Percent Change			2019			2018			Percent Change

$	299		$	282		6.0	%	$	592		$	592			–	%	$	142		$	107			32.7	%	$	3,332		$	3,226			3.3	%
	445			430		3.5			950	(a)		902	(a)		5.3			266			255			4.3			2,473	(b)		2,404	(b)		2.9
	–			–		–			–			–			–			17			10			70.0			17			10			70.0
	744			712		4.5			1,542			1,494			3.2			425			372			14.2			5,822			5,640			3.2
	435			453		(4.0	)		736			705			4.4			213			155			37.4			3,111			3,045			2.2
	3			4		(25.0	)		33			28			17.9			–			–			–			42			40			5.0
	438			457		(4.2	)		769			733			4.9			213			155			37.4			3,153			3,085			2.2
	306			255		20.0			773			761			1.6			212			217			(2.3	)		2,669			2,555			4.5
	2			–		*			295			281			5.0			(9	)		3			*			365			327			11.6
	304			255		19.2			478			480			(.4	)		221			214			3.3			2,304			2,228			3.4
	76			64		18.8			120			120			–			(46	)		(34	)		(35.3	)		476			470			1.3
	228			191		19.4			358			360			(.6	)		267			248			7.7			1,828			1,758			4.0
	–			–		–			–			–			–			(7	)		(8	)		12.5			(7	)		(8	)		12.5
$	228		$	191		19.4		$	358		$	360			(.6	)	$	260		$	240			8.3		$	1,821		$	1,750			4.1

$	3,952		$	3,737		5.8	%	$	10,087		$	8,963			12.5	%	$	1,418		$	1,104			28.4	%	$	103,233		$	98,353			5.0	%
	494			522		(5.4	)		–			–			–			4,314			4,338			(.6	)		39,365			39,857			(1.2	)
	3,755			3,245		15.7			–			–			–			–			5			*			66,834			60,834			9.9
	–			–		–			22,830			21,220			7.6			–			–			–			22,830			21,220			7.6
	1,706			1,721		(.9	)		360			408			(11.8	)		–			3			*			56,956			55,463			2.7
	–			–		–			–			–			–			–			–			–			–			2,897			*
	9,907			9,225		7.4			33,277			30,591			8.8			5,732			5,450			5.2			289,218			278,624			3.8
	1,617			1,619		(.1	)		2,806			2,535			10.7			–			–			–			9,545			9,433			1.2
	50			66		(24.2	)		533			392			36.0			–			–			–			3,309			3,401			(2.7	)
	13,185			12,248		7.7			39,519			36,535			8.2			154,830			148,606			4.2			471,598			454,489			3.8
	13,609			14,792		(8.0	)		1,148			1,085			5.8			2,405			2,448			(1.8	)		73,096			78,987			(7.5	)
	8,323			9,824		(15.3	)		–			–			–			186			38			*			70,433			69,918			.7
	49,362			43,154		14.4			113			106			6.6			780			758			2.9			154,621			148,402			4.2
	3,747			3,891		(3.7	)		2			3			(33.3	)		10,050			2,478			*			47,082			37,515			25.5
	75,041			71,661		4.7			1,263			1,194			5.8			13,421			5,722			*			345,232			334,822			3.1
	2,528			2,476		2.1			7,050			6,601			6.8			20,761			17,892			16.0			52,438			49,322			6.3

Wealth Management and Investment Services								Payment Services									Treasury and Corporate Support									Consolidated Company
2019			2018		Percent Change			2019			2018			Percent Change			2019			2018			Percent Change			2019			2018			Percent Change

$	587		$	557		5.4	%	$	1,215		$	1,202			1.1	%	$	224		$	185			21.1	%	$	6,618		$	6,423			3.0	%
	875			861		1.6			1,801	(a)		1,750	(a)		2.9			527			459			14.8			4,759	(b)		4,671	(b)		1.9
	–			–		–			–			–			–			22			15			46.7			22			15			46.7
	1,462			1,418		3.1			3,016			2,952			2.2			773			659			17.3			11,399			11,109			2.6
	868			877		(1.0	)		1,458			1,409			3.5			409			346			18.2			6,158			6,061			1.6
	6			8		(25.0	)		64			55			16.4			–			–			–			82			79			3.8
	874			885		(1.2	)		1,522			1,464			4.0			409			346			18.2			6,240			6,140			1.6
	588			533		10.3			1,494			1,488			.4			364			313			16.3			5,159			4,969			3.8
	(1	)		1		*			581			553			5.1			26			2			*			742			668			11.1
	589			532		10.7			913			935			(2.4	)		338			311			8.7			4,417			4,301			2.7
	147			133		10.5			229			234			(2.1	)		(140	)		(138	)		(1.4	)		881			861			2.3
	442			399		10.8			684			701			(2.4	)		478			449			6.5			3,536			3,440			2.8
	–			–		–			–			–			–			(16	)		(15	)		(6.7	)		(16	)		(15	)		(6.7	)
$	442		$	399		10.8		$	684		$	701			(2.4	)	$	462		$	434			6.5		$	3,520		$	3,425			2.8

$	3,937		$	3,699		6.4	%	$	9,766		$	8,660			12.8	%	$	1,402		$	1,074			30.5	%	$	102,600		$	97,912			4.8	%
	499			517		(3.5	)		–			–			–			4,315			4,322			(.2	)		39,417			40,110			(1.7	)
	3,713			3,179		16.8			–			–			–			–			5			*			66,212			60,505			9.4
	–			–		–			22,714			21,252			6.9			–			–			–			22,714			21,252			6.9
	1,718			1,710		.5			368			416			(11.5	)		–			3			*			56,729			56,253			.8
	–			–		–			–			–			–			–			–			–			–			2,972			*
	9,867			9,105		8.4			32,848			30,328			8.3			5,717			5,404			5.8			287,672			279,004			3.1
	1,617			1,619		(.1	)		2,810			2,538			10.7			–			–			–			9,549			9,436			1.2
	52			68		(23.5	)		523			394			32.7			–			–			–			3,383			3,375			.2
	13,189			12,137		8.7			39,070			36,348			7.5			153,308			148,354			3.3			467,521			454,389			2.9
	13,458			14,584		(7.7	)		1,152			1,106			4.2			2,420			2,476			(2.3	)		73,263			79,234			(7.5	)
	8,769			10,674		(17.8	)		–			–			–			144			40			*			71,301			70,136			1.7
	45,277			42,457		6.6			111			105			5.7			826			723			14.2			149,662			148,080			1.1
	3,777			3,796		(.5	)		2			3			(33.3	)		9,183			3,329			*			46,100			37,252			23.8
	71,281			71,511		(.3	)		1,265			1,214			4.2			12,573			6,568			91.4			340,326			334,702			1.7
	2,522			2,464		2.4			7,040			6,611			6.5			20,315			17,698			14.8			52,016			49,075			6.0