US Bank 2006 Annual Report Download - page 107

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U.S. Bancorp
Quarterly Consolidated Financial Data
2006 2005
First Second Third Fourth First Second Third Fourth
(Dollars in Millions, Except Per Share Data) Quarter Quarter Quarter Quarter Quarter Quarter Quarter Quarter
INTEREST INCOME
Loans ********************************************************** $2,307 $2,425 $2,545 $2,596 $1,895 $2,009 $2,147 $2,255
Loans held for sale *********************************************** 51 57 64 64 37 42 50 52
Investment securities********************************************** 490 500 500 511 476 486 492 500
Other interest income ********************************************* 43 36 40 34 27 28 29 26
Total interest income**************************************** 2,891 3,018 3,149 3,205 2,435 2,565 2,718 2,833
INTEREST EXPENSE
Deposits ******************************************************** 503 578 640 668 308 361 414 476
Short-term borrowings ******************************************** 270 270 321 342 112 143 205 230
Long-term debt ************************************************** 403 484 528 515 271 307 317 352
Total interest expense *************************************** 1,176 1,332 1,489 1,525 691 811 936 1,058
Net interest income *********************************************** 1,715 1,686 1,660 1,680 1,744 1,754 1,782 1,775
Provision for credit losses****************************************** 115 125 135 169 172 144 145 205
Net interest income after provision for credit losses ********************* 1,600 1,561 1,525 1,511 1,572 1,610 1,637 1,570
NONINTEREST INCOME
Credit and debit card revenue *************************************** 182 202 206 210 154 177 185 197
Corporate payment products revenue ********************************* 127 139 150 141 107 120 135 126
ATM processing services******************************************* 59 61 63 60 47 57 64 61
Merchant processing services *************************************** 213 253 253 244 178 198 200 194
Trust and investment management fees ******************************* 297 314 305 319 247 253 251 258
Deposit service charges******************************************** 232 264 268 259 210 234 246 238
Treasury management fees ***************************************** 107 116 111 107 107 117 109 104
Commercial products revenue*************************************** 104 107 100 104 96 100 103 101
Mortgage banking revenue ***************************************** 24 75 68 25 102 110 111 109
Investment products fees and commissions *************************** 38 42 34 36 39 39 37 37
Securities gains (losses), net *************************************** – 3 – 11 (59) 1 1 (49)
Other ********************************************************** 231 179 190 213 154 135 134 170
Total noninterest income************************************* 1,614 1,755 1,748 1,729 1,382 1,541 1,576 1,546
NONINTEREST EXPENSE
Compensation *************************************************** 633 627 632 621 567 612 603 601
Employee benefits ************************************************ 133 123 123 102 116 108 106 101
Net occupancy and equipment ************************************** 165 161 168 166 154 159 162 166
Professional services ********************************************** 35 41 54 69 36 39 44 47
Marketing and business development********************************* 40 58 58 61 43 67 61 64
Technology and communications ************************************ 117 127 128 133 106 113 118 129
Postage, printing and supplies ************************************** 66 66 66 67 63 63 64 65
Other intangibles ************************************************* 85 89 89 92 71 181 125 81
Debt prepayment ************************************************* –11 –22 –54 – –
Other ********************************************************** 226 227 220 279 175 199 190 210
Total noninterest expense ************************************ 1,500 1,530 1,538 1,612 1,331 1,595 1,473 1,464
Income before income taxes **************************************** 1,714 1,786 1,735 1,628 1,623 1,556 1,740 1,652
Applicable income taxes ******************************************* 561 585 532 434 552 435 586 509
Net income****************************************************** $1,153 $1,201 $1,203 $1,194 $1,071 $1,121 $1,154 $1,143
Net income applicable to common equity****************************** $1,153 $1,184 $1,187 $1,179 $1,071 $1,121 $1,154 $1,143
Earnings per common share **************************************** $ .64 $ .66 $ .67 $ .67 $ .58 $ .61 $ .63 $ .63
Diluted earnings per common share********************************** $ .63 $ .66 $ .66 $ .66 $ .57 $ .60 $ .62 $ .62
U.S. BANCORP 105