US Bank 2013 Annual Report Download - page 97

Download and view the complete annual report

Please find page 97 of the 2013 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 163

  • 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
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147
  • 148
  • 149
  • 150
  • 151
  • 152
  • 153
  • 154
  • 155
  • 156
  • 157
  • 158
  • 159
  • 160
  • 161
  • 162
  • 163

Additional detail of the allowance for credit losses by portfolio class was as follows:
(Dollars in Millions) Commercial
Commercial
Real Estate
Residential
Mortgages
Credit
Card
Other
Retail
Total Loans,
Excluding
Covered Loans
Covered
Loans
Total
Loans
Allowance Balance at December 31, 2013
Related to
Loans individually evaluated for impairment (a) ........... $ 15 $17 $–$–$– $ 32 $–$ 32
TDRs collectively evaluated for impairment ............... 19 26 329 87 55 516 4 520
Other loans collectively evaluated for impairment ......... 1,041 700 546 797 726 3,810 5 3,815
Loans acquired with deteriorated credit quality ........... – 33 – – – 33 137 170
Total allowance for credit losses ........................ $1,075 $776 $875 $884 $781 $4,391 $146 $4,537
Allowance Balance at December 31, 2012
Related to
Loans individually evaluated for impairment (a) ........... $ 10 $30 $–$–$– $ 40 $–$ 40
TDRs collectively evaluated for impairment ............... 28 29 446 153 97 753 1 754
Other loans collectively evaluated for impairment ......... 1,013 791 489 710 751 3,754 17 3,771
Loans acquired with deteriorated credit quality ........... – 7 – – – 7 161 168
Total allowance for credit losses ........................ $1,051 $857 $935 $863 $848 $4,554 $179 $4,733
(a) Represents the allowance for credit losses related to loans greater than $5 million classified as nonperforming or TDRs.
Additional detail of loan balances by portfolio class was as follows:
(Dollars in Millions) Commercial
Commercial
Real Estate
Residential
Mortgages
Credit
Card
Other
Retail
Total Loans,
Excluding
Covered Loans
Covered
Loans (b)
Total
Loans
December 31, 2013
Loans individually evaluated for impairment (a) ....... $ 197 $ 237 $ – $ – $ – $ 434 $ 62 $ 496
TDRs collectively evaluated for impairment ........... 155 358 5,064 310 269 6,156 87 6,243
Other loans collectively evaluated for impairment ..... 69,680 39,128 46,090 17,711 47,409 220,018 4,539 224,557
Loans acquired with deteriorated credit quality ....... 1 162 2 – – 165 3,774 3,939
Total loans .......................................... $70,033 $39,885 $51,156 $18,021 $47,678 $226,773 $ 8,462 $235,235
December 31, 2012
Loans individually evaluated for impairment (a) ....... $ 171 $ 510 $ – $ – $ – $ 681 $ 48 $ 729
TDRs collectively evaluated for impairment ........... 185 391 4,199 442 313 5,530 145 5,675
Other loans collectively evaluated for impairment ..... 65,863 35,952 39,813 16,673 47,399 205,700 5,814 211,514
Loans acquired with deteriorated credit quality ....... 4 100 6 – – 110 5,301 5,411
Total loans .......................................... $66,223 $36,953 $44,018 $17,115 $47,712 $212,021 $11,308 $223,329
(a) Represents loans greater than $5 million classified as nonperforming or TDRs.
(b) Includes expected reimbursements from the FDIC under loss sharing agreements.
Credit Quality The quality of the Company’s loan portfolios
is assessed as a function of net credit losses, levels of
nonperforming assets and delinquencies, and credit quality
ratings as defined by the Company. These credit quality
ratings are an important part of the Company’s overall credit
risk management process and evaluation of its allowance for
credit losses.
U.S. BANCORP 95