US Bank 2004 Annual Report Download - page 31
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Please find page 31 of the 2004 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.Commercial Commercial loans, including lease financing, loans held for sale from a year ago due to declining
totaled $40.2 billion at December 31, 2004, compared with mortgage banking volume. Although general economic
$38.5 billion at December 31, 2003, an increase of conditions experienced some improvement in 2003,
$1.6 billion (4.3 percent). The increase in commercial loans commercial loan demand continued to be soft in the
was driven by new customer relationships, increases in Company’s markets throughout the first half of 2004. As a
corporate card balances and to a lesser extent, increased result, average commercial loans in 2004 decreased by
utilization under lines of credit by commercial customers. $2.0 billion (4.8 percent) from 2003, despite the positive
The growth of corporate and industrial and corporate card impact on average balances from the consolidation of loans
loan categories was tempered somewhat by lower mortgage from the Stellar commercial loan conduit in the third
Commercial Loans by Industry Group and Geography
December 31, 2004 December 31, 2003
Industry Group (Dollars in Millions) Loans Percent Loans Percent
Consumer products and services *************************************** $ 8,073 20.1% $ 6,858 17.8%
Financial services ***************************************************** 4,784 11.9 4,469 11.6
Commercial services and supplies*************************************** 3,870 9.6 3,785 9.8
Capital goods ******************************************************** 3,825 9.5 4,598 11.9
Agriculture *********************************************************** 2,601 6.5 2,907 7.6
Property management and development ********************************* 2,334 5.8 1,653 4.3
Paper and forestry products, mining and basic materials ******************* 1,905 4.7 1,415 3.7
Consumer staples***************************************************** 1,887 4.7 1,817 4.7
Health care ********************************************************** 1,826 4.6 1,532 4.0
Private investors ****************************************************** 1,630 4.1 1,629 4.2
Transportation ******************************************************** 1,592 4.0 1,758 4.6
Energy ************************************************************** 730 1.8 708 1.8
Information technology ************************************************ 644 1.6 729 1.9
Other *************************************************************** 4,472 11.1 4,668 12.1
Total ************************************************************* $40,173 100.0% $38,526 100.0%
Geography
California ************************************************************ $ 3,786 9.4% $ 4,091 10.6%
Colorado ************************************************************ 2,064 5.1 1,820 4.7
Illinois *************************************************************** 2,549 6.3 2,121 5.5
Minnesota *********************************************************** 6,649 16.6 6,527 16.9
Missouri ************************************************************* 2,525 6.3 2,742 7.1
Ohio **************************************************************** 2,528 6.3 2,361 6.1
Oregon ************************************************************** 1,441 3.6 1,500 3.9
Washington ********************************************************** 2,695 6.7 2,767 7.2
Wisconsin *********************************************************** 2,604 6.5 2,874 7.5
Iowa, Kansas, Nebraska, North Dakota, South Dakota ********************* 3,455 8.6 3,760 9.8
Arkansas, Indiana, Kentucky, Tennessee ********************************* 1,747 4.3 1,549 4.0
Idaho, Montana, Wyoming ********************************************* 830 2.1 744 1.9
Arizona, Nevada, Utah************************************************* 926 2.3 829 2.2
Total banking region************************************************ 33,799 84.1 33,685 87.4
Outside the Company’s banking region ********************************** 6,374 15.9 4,841 12.6
Total ************************************************************* $40,173 100.0% $38,526 100.0%
Selected Loan Maturity Distribution
Over One
One Year Through Over Five
December 31, 2004 (Dollars in Millions) or Less Five Years Years Total
Commercial ************************************************************* $19,283 $18,141 $ 2,749 $ 40,173
Commercial real estate *************************************************** 7,378 14,280 5,927 27,585
Residential mortgages **************************************************** 974 2,698 11,695 15,367
Retail******************************************************************* 13,312 19,619 10,259 43,190
Total loans *********************************************************** $40,947 $54,738 $30,630 $126,315
Total of loans due after one year with
Predetermined interest rates******************************************** $ 40,042
Floating interest rates************************************************** $ 45,326
U.S. BANCORP 29
Table 7
Table 8