US Bank 2006 Annual Report Download - page 29

distribution by loan category. Average total loans increased
BALANCE SHEET ANALYSIS
$9.0 billion (6.8 percent) in 2006, compared with 2005.
Average earning assets were $186.2 billion in 2006, The increase was due to growth in most loan categories.
compared with $178.4 billion in 2005. The increase in
Commercial Commercial loans, including lease financing,
average earning assets of $7.8 billion (4.4 percent) was
increased $3.2 billion (7.6 percent) as of December 31,
primarily driven by growth in total average loans, partially
2006, compared with December 31, 2005. The increase was
offset by a decrease in investment securities. The change in
driven by new customer relationships, revolving credit line
average earning assets was principally funded by increases
utilization by business customers and growth in corporate
in wholesale funding.
payment card and commercial leasing balances.
For average balance information, refer to Consolidated
Additionally, loans to financial institutions increased
Daily Average Balance Sheet and Related Yields and Rates
10.6 percent from a year ago. Average commercial loans
on pages 106 and 107.
increased $2.8 billion (6.6 percent) in 2006, compared with
Loans The Company’s loan portfolio was $143.6 billion at 2005, primarily due to an increase in commercial loan
December 31, 2006, an increase of $7.1 billion demand driven by general economic conditions in 2006.
(5.2 percent) from December 31, 2005. The increase was Table 7 provides a summary of commercial loans by
driven by growth in commercial loans (7.6 percent), retail industry and geographical locations.
loans (7.1 percent), residential mortgages (2.7 percent) and
Commercial Real Estate The Company’s portfolio of
commercial real estate loans (.6 percent). Table 6 provides a
commercial real estate loans, which includes commercial
summary of the loan distribution by product type, while
mortgages and construction loans, increased $.2 billion
Table 10 provides a summary of selected loan maturity
COMMERCIAL LOANS BY INDUSTRY GROUP AND GEOGRAPHY
December 31, 2006 December 31, 2005
INDUSTRY GROUP (Dollars in Millions) Loans Percent Loans Percent
Consumer products and services************************************************** $ 9,303 20.1% $ 8,723 20.3%
Financial services ************************************************************** 6,375 13.8 5,416 12.6
Commercial services and supplies ************************************************* 4,645 10.1 4,326 10.1
Capital goods ***************************************************************** 3,872 8.4 3,881 9.0
Property management and development ******************************************** 3,104 6.7 3,182 7.4
Agriculture******************************************************************** 2,436 5.3 2,693 6.3
Healthcare ******************************************************************** 2,328 5.0 2,064 4.8
Paper and forestry products, mining and basic materials******************************* 2,190 4.7 1,990 4.6
Consumer staples ************************************************************** 1,749 3.8 1,785 4.2
Transportation ***************************************************************** 1,662 3.6 1,565 3.7
Private investors *************************************************************** 1,565 3.4 1,477 3.4
Energy *********************************************************************** 1,104 2.4 842 2.0
Information technology********************************************************** 821 1.8 700 1.6
Other ************************************************************************ 5,036 10.9 4,298 10.0
Total ********************************************************************* $46,190 100.0% $42,942 100.0%
GEOGRAPHY
California ********************************************************************* $ 4,112 8.9% $ 3,561 8.3%
Colorado ********************************************************************* 2,958 6.4 2,578 6.0
Illinois *********************************************************************** 2,789 6.0 2,919 6.8
Minnesota ******************************************************************** 6,842 14.8 6,806 15.8
Missouri ********************************************************************* 1,862 4.0 2,056 4.8
Ohio************************************************************************* 2,672 5.8 2,640 6.2
Oregon ********************************************************************** 1,870 4.0 1,649 3.8
Washington ******************************************************************* 2,212 4.8 2,404 5.6
Wisconsin ******************************************************************** 2,295 5.0 2,421 5.6
Iowa, Kansas, Nebraska, North Dakota, South Dakota ********************************* 4,308 9.3 3,721 8.7
Arkansas, Indiana, Kentucky, Tennessee ******************************************** 2,070 4.5 2,214 5.2
Idaho, Montana, Wyoming ******************************************************* 1,015 2.2 825 1.9
Arizona, Nevada, Utah ********************************************************** 1,602 3.5 1,163 2.7
Total banking region********************************************************* 36,607 79.2 34,957 81.4
Outside the Company’s banking region ********************************************* 9,583 20.8 7,985 18.6
Total ********************************************************************* $46,190 100.0% $42,942 100.0%
U.S. BANCORP 27
Table 7