US Bank 2011 Annual Report Download - page 132

U.S. Bancorp
Quarterly Consolidated Financial Data (Unaudited)
2011 2010
(Dollars in Millions, Except Per Share
Data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Interest Income
Loans ............................ $2,552 $2,563 $2,621 $2,634 $2,505 $2,515 $2,560 $2,565
Loans held for sale .............. 63 34 42 61 44 47 71 84
Investment securities ............ 428 459 470 463 410 394 400 397
Other interest income ............ 57 63 67 62 34 39 46 47
Total interest income ....... 3,100 3,119 3,200 3,220 2,993 2,995 3,077 3,093
Interest Expense
Deposits ......................... 234 210 202 194 236 229 231 232
Short-term borrowings .......... 133 131 143 124 128 137 149 134
Long-term debt .................. 281 290 289 285 277 272 273 281
Total interest expense ...... 648 631 634 603 641 638 653 647
Net interest income .............. 2,452 2,488 2,566 2,617 2,352 2,357 2,424 2,446
Provision for credit losses ....... 755 572 519 497 1,310 1,139 995 912
Net interest income after
provision for credit losses ..... 1,697 1,916 2,047 2,120 1,042 1,218 1,429 1,534
Noninterest Income
Credit and debit card revenue . . . 267 286 289 231 258 266 274 293
Corporate payment products
revenue ....................... 175 185 203 171 168 178 191 173
Merchant processing services . . . 301 338 338 378 292 320 318 323
ATM processing services ........ 112 114 115 111 105 108 105 105
Trust and investment
management fees ............. 256 258 241 245 264 267 267 282
Deposit service charges ......... 143 162 183 171 207 199 160 144
Treasury management fees ...... 137 144 137 133 137 145 139 134
Commercial products revenue . . . 191 218 212 220 161 205 197 208
Mortgage banking revenue ...... 199 239 245 303 200 243 310 250
Investment products fees and
commissions .................. 32 35 31 31 25 30 27 29
Securities gains (losses), net ..... (5) (8) (9) (9) (34) (21) (9) (14)
Other ............................ 204 175 186 446 135 170 131 295
Total noninterest income . . . 2,012 2,146 2,171 2,431 1,918 2,110 2,110 2,222
Noninterest Expense
Compensation ................... 959 1,004 1,021 1,057 861 946 973 999
Employee benefits ............... 230 210 203 202 180 172 171 171
Net occupancy and
equipment .................... 249 249 252 249 227 226 229 237
Professional services ............ 70 82 100 131 58 73 78 97
Marketing and business
development .................. 65 90 102 112 60 86 108 106
Technology and
communications .............. 185 189 189 195 185 186 186 187
Postage, printing and supplies . . 74 76 76 77 74 75 74 78
Other intangibles ................ 75 75 75 74 97 91 90 89
Other ............................ 407 450 458 599 394 522 476 521
Total noninterest
expense ................. 2,314 2,425 2,476 2,696 2,136 2,377 2,385 2,485
Income before income taxes .... 1,395 1,637 1,742 1,855 824 951 1,154 1,271
Applicable income taxes ......... 366 458 490 527 161 199 260 315
Net income ...................... 1,029 1,179 1,252 1,328 663 752 894 956
Net (income) loss attributable to
noncontrolling interests ....... 17 24 21 22 6 14 14 18
Net income attributable to U.S.
Bancorp ....................... $1,046 $1,203 $1,273 $1,350 $ 669 $ 766 $ 908 $ 974
Net income applicable to U.S.
Bancorp common
shareholders .................. $1,003 $1,167 $1,237 $1,314 $ 648 $ 862 $ 871 $ 951
Earnings per common share ..... $ .52 $ .61 $ .65 $ .69 $ .34 $ .45 $ .46 $ .50
Diluted earnings per common
share .......................... $ .52 $ .60 $ .64 $ .69 $ .34 $ .45 $ .45 $ .49
130 U.S. BANCORP