US Bank 2004 Annual Report Download - page 40
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Please find page 40 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.Delinquent Loan Ratios as a Percent of Ending Loan Balances
At December 31,
90 days or more past due excluding nonperforming loans 2004 2003 2002 2001 2000
Commercial
Commercial ******************************* .05% .06% .14% .14% .11%
Lease financing**************************** .02 .04 .10 .45 .02
Total commercial *********************** .05 .06 .14 .18 .10
Commercial real estate
Commercial mortgages ********************* — .02 .03 .03 .07
Construction and development ************** — .03 .07 .02 .03
Total commercial real estate************** — .02 .04 .02 .06
Residential mortgages ******************** .46 .61 .90 .78 .62
Retail
Credit card ******************************* 1.74 1.68 2.09 2.18 1.70
Retail leasing****************************** .08 .14 .19 .11 .20
Other retail******************************** .29 .41 .54 .74 .62
Total retail ***************************** .47 .56 .72 .90 .76
Total loans ************************* .23% .28% .37% .40% .31%
At December 31,
90 days or more past due including nonperforming loans 2004 2003 2002 2001 2000
Commercial *********************************** .99% 1.97% 2.35% 1.71% 1.13%
Commercial real estate************************** .73 .82 .90 .68 .60
Residential mortgages (a)************************ .74 .91 1.44 1.79 1.23
Retail ***************************************** .51 .62 .79 1.03 .83
Total loans ********************************* .74% 1.14% 1.43% 1.28% .94%
(a) Delinquent loan ratios exclude advances made pursuant to servicing agreements to Government National Mortgage Association (‘‘GNMA’’) mortgage pools whose repayments are insured
by the Federal Housing Administration or guaranteed by the Department of Veterans Affairs. Including the guaranteed amounts, the ratio of residential mortgages 90 days or more past due
was 5.19 percent and 6.07 percent at December 31, 2004 and 2003, respectively. Information prior to 2003 is not available.
The Company had $68.2 million and $58.5 million of because they are adequately secured by collateral, and/or
restructured loans as of December 31, 2004 and 2003, are in the process of collection and are reasonably expected
respectively. Commitments to lend additional funds under to result in repayment or restoration to current status. The
restructured loans were $11.9 million and $8.2 million as of ratio of delinquent loans to total loans declined to
December 31, 2004 and 2003, respectively. Restructured .23 percent at December 31, 2004, compared with
loans performing under the restructured terms beyond a .28 percent at December 31, 2003. Improving economic
specific timeframe are reported as accruing. Of the conditions and the Company’s continued focus on
Company’s total restructured loans at December 31, 2004, improving the credit process were the primary factors for
$10.2 million were reported as accruing. the favorable change from a year ago. Given the relative
Accruing loans 90 days or more past due totaled level of loans 90 days or more past due, the Company does
$294.0 million at December 31, 2004, compared with not anticipate significant reductions in future periods.
$329.4 million at December 31, 2003, and $426.4 million To monitor credit risk associated with retail loans, the
at December 31, 2002. These loans were not included in Company monitors delinquency ratios in the various stages
nonperforming assets and continue to accrue interest of collection including nonperforming status.
38 U.S. BANCORP
Table 13