US Bank 2003 Annual Report Download - page 40

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Delinquent Loan Ratios as a Percent of Ending Loan Balances
At December 31,
90 days or more past due excluding nonperforming loans 2003 2002 2001 2000 1999
Commercial
Commercial ****************************** .06% .14% .14% .11% .05%
Lease financing*************************** .04 .10 .45 .02 —
Total commercial************************ .06 .14 .18 .10 .05
Commercial real estate
Commercial mortgages******************* .02 .03 .03 .07 .08
Construction and development ************ .03 .07 .02 .03 .05
Total commercial real estate *********** .02 .04 .02 .06 .07
Residential mortgages******************* .61 .90 .78 .62 .42
Retail
Credit card****************************** 1.68 2.09 2.18 1.70 1.23
Retail leasing *************************** .14 .19 .11 .20 .12
Other retail ***************************** .41 .54 .74 .62 .41
Total retail *************************** .56 .72 .90 .76 .53
Total loans *********************** .28% .37% .40% .31% .22%
At December 31,
90 days or more past due including nonperforming loans 2003 2002 2001 2000 1999
Commercial ********************************* 1.97% 2.35% 1.71% 1.13% .59%
Commercial real estate *********************** .82 .90 .68 .60 .74
Residential mortgages ************************ .91 1.44 1.79 1.23 .99
Retail *************************************** .62 .79 1.03 .83 .62
Total loans ******************************* 1.14% 1.43% 1.28% .94% .68%
nonperforming commercial and commercial real estate To monitor credit risk associated with retail loans, the
assets was principally due to the Company’s exposure to Company monitors delinquency ratios in the various stages
certain communications, cable, manufacturing and highly of collection including nonperforming status. The following
leveraged enterprise-value financings. Nonperforming loans table provides summary delinquency information for
in the capital goods sector also increased in 2002. residential mortgages and retail loans:
The Company had $58.5 million and $50.0 million of As a Percent
Amount of Loans
restructured loans as of December 31, 2003 and 2002, December 31
(Dollars in Millions) 2003 2002 2003 2002
respectively. Commitments to lend additional funds under
Residential Mortgages
restructured loans were $8.2 million and $1.7 million as of
30-89 days********* $102.9 $137.5 .76% 1.41%
December 31, 2003 and 2002, respectively. Restructured
90 days or more **** 82.5 87.9 .61 .90
loans performing under the restructured terms beyond a Nonperforming ***** 40.5 52.0 .30 .53
specific timeframe are reported as accruing. Of the
Total ********** $225.9 $277.4 1.68% 2.85%
Company’s total restructured loans at December 31, 2003,
Retail Loans
$18.0 million were reported as accruing.
Credit Card
Accruing loans 90 days or more past due totaled
30-89 days********* $150.9 $145.7 2.54% 2.57%
$329.4 million at December 31, 2003, compared with 90 days or more **** 99.5 118.3 1.68 2.09
$426.4 million at December 31, 2002, and $462.9 million Nonperforming ***** ————
at December 31, 2001. These loans were not included in Total ********** $250.4 $264.0 4.22% 4.66%
nonperforming assets and continue to accrue interest Retail Leasing
because they are adequately secured by collateral, and/or 30-89 days ********* $ 78.8 $ 89.7 1.31% 1.58%
are in the process of collection and are reasonably expected 90 days or more **** 8.2 10.7 .14 .19
to result in repayment or restoration to current status. The Nonperforming ***** .4 1.0 .01 .02
ratio of delinquent loans to total loans declined to Total ********** $ 87.4 $101.4 1.45% 1.78%
.28 percent at December 31, 2003, compared with .37 Other Retail
percent at December 31, 2002. Improving economic 30-89 days ********* $311.9 $395.3 1.15% 1.50%
90 days or more **** 110.2 141.2 .41 .54
conditions and the Company’s continued focus on credit
Nonperforming ***** 24.8 25.1 .09 .10
process are the primary factors for the favorable change
Total ********** $446.9 $561.6 1.65% 2.13%
from a year ago.
38 U.S. Bancorp
Table 13