US Bank 2004 Annual Report Download - page 84
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Please find page 84 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.Other Information Quantitative information related to managed assets and loan sales was as follows:
At December 31 Year Ended December 31
Total Principal Principal Amount
Balance 90 Days or More Past Due (a) Average Balance Net Credit Losses
Asset Type (Dollars in Millions) 2004 2003 2004 2003 2004 2003 2004 2003
Commercial
Commercial********************** $ 35,891 $ 34,427 $311 $ 651 $ 35,274 $ 39,079 $129 $ 535
Lease financing******************* 4,963 4,990 92 115 4,866 5,088 69 84
Total commercial ************** 40,854 39,417 403 766 40,140 44,167 198 619
Commercial real estate
Commercial mortgages************ 20,315 20,624 175 181 20,386 20,166 18 28
Construction and development ***** 7,270 6,618 26 42 6,881 6,976 9 11
Total commercial real estate***** 27,585 27,242 201 223 27,267 27,142 27 39
Residential mortgages *********** 15,367 13,457 114 123 14,322 11,696 29 27
Retail
Credit card ********************** 6,603 5,933 115 100 6,090 5,525 252 255
Retail leasing********************* 7,166 6,029 6 8 6,653 5,804 39 50
Other retail*********************** 29,421 27,048 101 135 28,461 26,876 251 311
Total retail ******************** 43,190 39,010 222 243 41,204 38,205 542 616
Total managed loans******** 126,996 119,126 940 1,355 122,933 121,210 796 1,301
Investment securities ************ 47,191 50,679 — — 49,452 45,574 — —
Total managed assets ************* $174,187 $169,805 $940 $1,355 $172,385 $166,784 $796 $1,301
Less
Assets sold or securitized********** 6,391 8,236 7,235 11,174
Total assets held *********** $167,796 $161,569 $165,150 $155,610
Sold or securitized assets
Commercial loans **************** $ — $ — $ — $ — $ — $ 1,834 $ — $ —
Indirect automobile loans (b) ******* ——— — — 7——
Guaranteed SBA loans (c) ********* 315 406 — — 364 450 — —
Small business credit lines (c) ****** 366 485 4 6 428 557 29 49
Investment securities ************** 5,710 7,345 — — 6,443 8,326 — —
Total securitized assets********* $ 6,391 $ 8,236 $ 4 $ 6 $ 7,235 $ 11,174 $ 29 $ 49
(a) Includes nonaccrual
(b) Reported in ‘‘other retail’’ loans.
(c) Reported in ‘‘commercial’’ loans.
Premises and Equipment
Premises and equipment at December 31 consisted of the following:
(Dollars in Millions) 2004 2003
Land ******************************************************************************************************** $ 311 $ 311
Buildings and improvements *********************************************************************************** 2,288 2,226
Furniture, fixtures and equipment ******************************************************************************* 2,105 2,092
Capitalized building and equipment leases *********************************************************************** 138 175
Construction in progress*************************************************************************************** 57
4,847 4,811
Less accumulated depreciation and amortization ****************************************************************** (2,957) (2,854)
Total ***************************************************************************************************** $ 1,890 $ 1,957
Mortgage Servicing Rights
The Company’s portfolio of residential mortgages serviced for others was $63.2 billion, $53.9 billion and $43.1 billion at
December 31, 2004, 2003 and 2002 respectively.
82 U.S. BANCORP
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