US Bank 2005 Annual Report Download - page 108

Download and view the complete annual report

Please find page 108 of the 2005 US Bank annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 130

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130

U.S. BANCORP
QUARTERLY CONSOLIDATED FINANCIAL DATA
2005 2004
First Second Third Fourth First Second Third Fourth
(Dollars in Millions, Except Per Share Data) Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
Interest Income
Loans***************************************************** $1,911 $2,027 $2,167 $2,276 $1,747 $1,740 $1,803 $1,878
Loans held for sale ***************************************** 21 24 30 31 20 27 21 23
Investment securities**************************************** 476 486 492 500 469 444 453 461
Other interest income *************************************** 27 28 29 26 22 25 26 27
Total interest income ********************************* 2,435 2,565 2,718 2,833 2,258 2,236 2,303 2,389
Interest Expense
Deposits ************************************************** 308 361 414 476 227 205 222 250
Short-term borrowings ************************************** 112 143 205 230 50 59 74 80
Long-term debt ******************************************** 271 307 317 352 209 200 232 267
Total interest expense ******************************** 691 811 936 1,058 486 464 528 597
Net interest income ***************************************** 1,744 1,754 1,782 1,775 1,772 1,772 1,775 1,792
Provision for credit losses *********************************** 172 144 145 205 235 204 166 64
Net interest income after provision for credit losses ************* 1,572 1,610 1,637 1,570 1,537 1,568 1,609 1,728
Noninterest Income
Credit and debit card revenue******************************** 154 177 185 197 142 159 164 184
Corporate payment products revenue ************************* 107 120 135 126 95 103 108 101
ATM processing services ************************************ 47 57 64 61 42 45 45 43
Merchant processing services ******************************** 178 198 200 194 141 165 188 181
Trust and investment management fees *********************** 247 253 251 258 249 251 240 241
Deposit service charges ************************************* 210 234 246 238 185 202 208 212
Treasury management fees ********************************** 107 117 109 104 118 121 118 110
Commercial products revenue******************************** 96 100 103 101 110 108 106 108
Mortgage banking revenue*********************************** 102 110 111 109 94 110 97 96
Investment products fees and commissions ******************** 39 39 37 37 39 43 37 37
Securities gains (losses), net ********************************* (59) 1 1 (49) — (172) 88 (21)
Other ***************************************************** 154 135 134 170 103 107 125 143
Total noninterest income ****************************** 1,382 1,541 1,576 1,546 1,318 1,242 1,524 1,435
Noninterest Expense
Compensation ********************************************* 567 612 603 601 536 573 564 579
Employee benefits ****************************************** 116 108 106 101 100 91 100 98
Net occupancy and equipment ******************************* 154 159 162 166 156 153 159 163
Professional services**************************************** 36 39 44 47 32 35 37 45
Marketing and business development ************************* 43 67 61 64 35 49 61 49
Technology and communications ***************************** 106 113 118 129 102 102 110 116
Postage, printing and supplies ******************************* 63 63 64 65 62 60 61 65
Other intangibles ******************************************* 71 181 125 81 226 (47) 210 161
Debt prepayment******************************************* — 54 — — 35 2 5 113
Other ***************************************************** 175 199 190 210 171 215 211 190
Total noninterest expense ***************************** 1,331 1,595 1,473 1,464 1,455 1,233 1,518 1,579
Income before income taxes ********************************* 1,623 1,556 1,740 1,652 1,400 1,577 1,615 1,584
Applicable income taxes************************************* 552 435 586 509 392 540 549 528
Net income ************************************************ $1,071 $1,121 $1,154 $1,143 $1,008 $1,037 $1,066 $1,056
Earnings per share ***************************************** $ .58 $ .61 $ .63 $ .63 $ .53 $ .55 $ .57 $ .57
Diluted earnings per share *********************************** $ .57 $ .60 $ .62 $ .62 $ .52 $ .54 $ .56 $ .56
106 U.S. BANCORP