
	Corporate and Commercial Banking							Consumer and Business Banking
Three Months Ended September 30 (Dollars in Millions)	2019		2018		Percent Change			2019		2018		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	709	$	741		(4.3	) %	$	1,580	$	1,554		1.7	%
Noninterest income		213		200		6.5			668		583		14.6
Securities gains (losses), net		–		–		–			–		–		–
Total net revenue		922		941		(2.0	)		2,248		2,137		5.2
Noninterest expense		394		383		2.9			1,321		1,302		1.5
Other intangibles		1		1		–			5		7		(28.6	)
Total noninterest expense		395		384		2.9			1,326		1,309		1.3
Income before provision and income taxes		527		557		(5.4	)		922		828		11.4
Provision for credit losses		40		35		14.3			69		54		27.8
Income before income taxes		487		522		(6.7	)		853		774		10.2
Income taxes and taxable-equivalent adjustment		122		131		(6.9	)		213		194		9.8
Net income		365		391		(6.6	)		640		580		10.3
Net (income) loss attributable to noncontrolling interests		–		–		–			–		–		–
Net income attributable to U.S. Bancorp	$	365	$	391		(6.6	)	$	640	$	580		10.3
Average Balance Sheet
Commercial	$	78,241	$	74,828		4.6	%	$	9,711	$	9,985		(2.7	) %
Commercial real estate		18,014		18,527		(2.8	)		16,055		16,234		(1.1	)
Residential mortgages		4		6		(33.3	)		64,632		58,624		10.2
Credit card		–		–		–			–		–		–
Other retail		1		1		–			55,495		53,750		3.2
Covered loans		–		–		–			–		2,756		*
Total loans		96,260		93,362		3.1			145,893		141,349		3.2
Goodwill		1,647		1,647		–			3,475		3,631		(4.3	)
Other intangible assets		8		10		(20.0	)		2,442		2,974		(17.9	)
Assets		107,156		102,143		4.9			160,814		155,537		3.4
Noninterest-bearing deposits		28,863		32,376		(10.9	)		28,630		28,196		1.5
Interest checking		11,641		9,623		21.0			51,054		50,327		1.4
Savings products		43,825		40,375		8.5			62,672		61,588		1.8
Time deposits		16,595		18,571		(10.6	)		15,942		13,634		16.9
Total deposits		100,924		100,945		–			158,298		153,745		3.0
Total U.S. Bancorp shareholders’ equity		10,381		10,426		(.4	)		11,666		11,841		(1.5	)

	Corporate and Commercial Banking							Consumer and Business Banking
Nine Months Ended September 30 (Dollars in Millions)	2019		2018		Percent Change			2019		2018		Percent Change
Condensed Income Statement
Net interest income (taxable-equivalent basis)	$	2,153	$	2,189		(1.6	) %	$	4,720	$	4,581		3.0	%
Noninterest income		667		630		5.9			1,770		1,754		.9
Securities gains (losses), net		–		–		–			–		–		–
Total net revenue		2,820		2,819		–			6,490		6,335		2.4
Noninterest expense		1,214		1,190		2.0			3,927		3,930		(.1	)
Other intangibles		3		3		–			15		21		(28.6	)
Total noninterest expense		1,217		1,193		2.0			3,942		3,951		(.2	)
Income before provision and income taxes		1,603		1,626		(1.4	)		2,548		2,384		6.9
Provision for credit losses		27		37		(27.0	)		218		164		32.9
Income before income taxes		1,576		1,589		(.8	)		2,330		2,220		5.0
Income taxes and taxable-equivalent adjustment		395		398		(.8	)		583		555		5.0
Net income		1,181		1,191		(.8	)		1,747		1,665		4.9
Net (income) loss attributable to noncontrolling interests		–		–		–			–		–		–
Net income attributable to U.S. Bancorp	$	1,181	$	1,191		(.8	)	$	1,747	$	1,665		4.9
Average Balance Sheet
Commercial	$	78,025	$	74,781		4.3	%	$	9,625	$	9,811		(1.9	) %
Commercial real estate		18,389		18,780		(2.1	)		16,035		16,320		(1.7	)
Residential mortgages		5		6		(16.7	)		63,214		57,756		9.5
Credit card		–		–		–			–		–		–
Other retail		1		1		–			54,935		54,001		1.7
Covered loans		–		–		–			–		2,900		*
Total loans		96,420		93,568		3.0			143,809		140,788		2.1
Goodwill		1,647		1,647		–			3,475		3,631		(4.3	)
Other intangible assets		9		11		(18.2	)		2,679		2,926		(8.4	)
Assets		106,335		102,414		3.8			157,655		155,184		1.6
Noninterest-bearing deposits		29,242		33,305		(12.2	)		27,433		27,607		(.6	)
Interest checking		11,314		9,552		18.4			51,190		50,055		2.3
Savings products		42,451		42,241		.5			62,035		61,616		.7
Time deposits		17,528		17,829		(1.7	)		15,409		12,997		18.6
Total deposits		100,535		102,927		(2.3	)		156,067		152,275		2.5
Total U.S. Bancorp shareholders’ equity		10,391		10,447		(.5	)		11,714		11,843		(1.1	)

*	Not meaningful

(a)	Presented net of related rewards and rebate costs and certain partner payments of $572 million and $539 million for the three months ended September 30, 2019 and 2018, respectively, and $1.7 billion and $1.6 billion for the nine months ended September 30, 2019 and 2018, respectively.

(b)	Includes revenue generated from certain contracts with customers of $1.9 billion and $1.8 billion for the three months ended September 30, 2019 and 2018, respectively, and $ 5.5 billion for both the nine m onths ended September 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

$	294	$	284			3.5	%	$	634		$	619			2.4	%	$	89		$	83			7.2	%	$	3,306		$	3,281			.8	%
	452		444			1.8			957	(a)		910	(a)		5.2			299			271			10.3			2,589	(b)		2,408	(b)		7.5
	–		–			–			–			–			–			25			10			*			25			10			*
	746		728			2.5			1,591			1,529			4.1			413			364			13.5			5,920			5,699			3.9
	430		429			.2			743			713			4.2			214			176			21.6			3,102			3,003			3.3
	3		4			(25.0	)		33			29			13.8			–			–			–			42			41			2.4
	433		433			–			776			742			4.6			214			176			21.6			3,144			3,044			3.3
	313		295			6.1			815			787			3.6			199			188			5.9			2,776			2,655			4.6
	1		(3	)		*			260			264			(1.5	)		(3	)		(7	)		57.1			367			343			7.0
	312		298			4.7			555			523			6.1			202			195			3.6			2,409			2,312			4.2
	78		75			4.0			139			131			6.1			(60	)		(41	)		(46.3	)		492			490			.4
	234		223			4.9			416			392			6.1			262			236			11.0			1,917			1,822			5.2
	–		–			–			–			–			–			(9	)		(7	)		(28.6	)		(9	)		(7	)		(28.6	)
$	234	$	223			4.9		$	416		$	392			6.1		$	253		$	229			10.5		$	1,908		$	1,815			5.1

$	4,110	$	3,783			8.6	%	$	10,017		$	9,272			8.0	%	$	1,581		$	1,180			34.0	%	$	103,660		$	99,048			4.7	%
	523		529			(1.1	)		–			–			–			4,398			4,252			3.4			38,990			39,542			(1.4	)
	3,972		3,408			16.5			–			–			–			–			4			*			68,608			62,042			10.6
	–		–			–			23,681			21,774			8.8			–			–			–			23,681			21,774			8.8
	1,655		1,755			(5.7	)		346			397			(12.8	)		–			–			–			57,497			55,903			2.9
	–		–			–			–			–			–			–			–			–			–			2,756			*
	10,260		9,475			8.3			34,044			31,443			8.3			5,979			5,436			10.0			292,436			281,065			4.0
	1,617		1,618			(.1	)		2,825			2,563			10.2			–			–			–			9,564			9,459			1.1
	47		61			(23.0	)		550			400			37.5			–			–			–			3,047			3,445			(11.6	)
	13,543		12,655			7.0			40,171			37,125			8.2			159,770			149,456			6.9			481,454			456,916			5.4
	13,575		13,184			3.0			1,200			1,064			12.8			2,326			2,372			(1.9	)		74,594			77,192			(3.4	)
	9,080		9,345			(2.8	)		–			–			–			232			35			*			72,007			69,330			3.9
	53,360		42,694			25.0			115			108			6.5			851			771			10.4			160,823			145,536			10.5
	3,418		3,882			(12.0	)		2			3			(33.3	)		6,552			1,973			*			42,509			38,063			11.7
	79,433		69,105			14.9			1,317			1,175			12.1			9,961			5,151			93.4			349,933			330,121			6.0
	2,530		2,486			1.8			7,058			6,583			7.2			21,657			18,802			15.2			53,292			50,138			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

$	888	$	844			5.2	%	$	1,848		$	1,821			1.5	%	$	315		$	269			17.1	%	$	9,924		$	9,704			2.3	%
	1,327		1,305			1.7			2,758	(a)		2,660	(a)		3.7			826			730			13.2			7,348	(b)		7,079	(b)		3.8
	–		–			–			–			–			–			47			25			88.0			47			25			88.0
	2,215		2,149			3.1			4,606			4,481			2.8			1,188			1,024			16.0			17,319			16,808			3.0
	1,297		1,304			(.5	)		2,190			2,116			3.5			632			524			20.6			9,260			9,064			2.2
	9		12			(25.0	)		97			84			15.5			–			–			–			124			120			3.3
	1,306		1,316			(.8	)		2,287			2,200			4.0			632			524			20.6			9,384			9,184			2.2
	909		833			9.1			2,319			2,281			1.7			556			500			11.2			7,935			7,624			4.1
	–		(2	)		*			841			817			2.9			23			(5	)		*			1,109			1,011			9.7
	909		835			8.9			1,478			1,464			1.0			533			505			5.5			6,826			6,613			3.2
	227		210			8.1			370			367			.8			(202	)		(179	)		(12.8	)		1,373			1,351			1.6
	682		625			9.1			1,108			1,097			1.0			735			684			7.5			5,453			5,262			3.6
	–		–			–			–			–			–			(25	)		(22	)		(13.6	)		(25	)		(22	)		(13.6	)
$	682	$	625			9.1		$	1,108		$	1,097			1.0		$	710		$	662			7.3		$	5,428		$	5,240			3.6

$	3,995	$	3,727			7.2	%	$	9,850		$	8,866			11.1	%	$	1,462		$	1,110			31.7	%	$	102,957		$	98,295			4.7	%
	507		520			(2.5	)		–			–			–			4,343			4,298			1.0			39,274			39,918			(1.6	)
	3,800		3,256			16.7			–			–			–			–			5			*			67,019			61,023			9.8
	–		–			–			23,040			21,428			7.5			–			–			–			23,040			21,428			7.5
	1,691		1,721			(1.7	)		361			410			(12.0	)		–			2			*			56,988			56,135			1.5
	–		–			–			–			–			–			–			–			–			–			2,900			*
	9,993		9,224			8.3			33,251			30,704			8.3			5,805			5,415			7.2			289,278			279,699			3.4
	1,617		1,619			(.1	)		2,815			2,547			10.5			–			–			–			9,554			9,444			1.2
	50		66			(24.2	)		532			396			34.3			–			–			–			3,270			3,399			(3.8	)
	13,302		12,306			8.1			39,432			36,610			7.7			155,492			148,727			4.5			472,216			455,241			3.7
	13,478		14,101			(4.4	)		1,168			1,092			7.0			2,390			2,441			(2.1	)		73,711			78,546			(6.2	)
	8,862		10,219			(13.3	)		–			–			–			173			39			*			71,539			69,865			2.4
	47,992		42,519			12.9			112			106			5.7			833			741			12.4			153,423			147,223			4.2
	3,654		3,824			(4.4	)		2			3			(33.3	)		8,297			2,872			*			44,890			37,525			19.6
	73,986		70,663			4.7			1,282			1,201			6.7			11,693			6,093			91.9			343,563			333,159			3.1
	2,525		2,472			2.1			7,046			6,602			6.7			20,770			18,069			14.9			52,446			49,433			6.1