US Bank 2014 Annual Report Download - page 34

TABLE 7 COMMERCIAL LOANS BY INDUSTRY GROUP AND GEOGRAPHY
2014 2013
At December 31 (Dollars in Millions) Loans Percent Loans Percent
Industry Group
Manufacturing ..................................................................... $12,261 15.3% $10,738 15.3%
Finance and insurance ............................................................ 7,799 9.7 5,864 8.4
Real estate, rental and leasing .................................................... 7,779 9.7 6,788 9.7
Wholesale trade ................................................................... 7,350 9.1 6,346 9.1
Retail trade ........................................................................ 6,428 8.0 5,401 7.7
Healthcare and social assistance .................................................. 5,280 6.6 5,048 7.2
Public administration .............................................................. 4,033 5.0 3,934 5.6
Professional, scientific and technical services ..................................... 3,121 3.9 2,747 3.9
Transport and storage ............................................................. 2,941 3.7 2,322 3.3
Information ........................................................................ 2,702 3.4 2,443 3.5
Mining ............................................................................. 2,604 3.2 2,094 3.0
Arts, entertainment and recreation ................................................ 2,493 3.1 2,214 3.2
Educational services .............................................................. 2,286 2.8 2,222 3.2
Agriculture, forestry, fishing and hunting .......................................... 1,642 2.0 1,508 2.1
Other services ..................................................................... 1,449 1.8 1,507 2.1
Utilities ............................................................................ 1,404 1.7 1,374 2.0
Other .............................................................................. 8,805 11.0 7,483 10.7
Total ............................................................................ $80,377 100.0% $70,033 100.0%
Geography
California .......................................................................... $ 9,961 12.4% $ 8,748 12.5%
Colorado .......................................................................... 3,528 4.4 2,970 4.2
Illinois ............................................................................. 4,108 5.1 3,539 5.1
Minnesota ......................................................................... 6,316 7.9 5,086 7.3
Missouri ........................................................................... 2,832 3.5 2,893 4.1
Ohio ............................................................................... 3,534 4.4 3,385 4.8
Oregon ............................................................................ 2,130 2.6 1,941 2.8
Washington ........................................................................ 3,237 4.0 2,823 4.0
Wisconsin ......................................................................... 3,090 3.8 2,768 4.0
Iowa, Kansas, Nebraska, North Dakota, South Dakota ............................. 4,400 5.5 4,091 5.8
Arkansas, Indiana, Kentucky, Tennessee .......................................... 4,949 6.2 4,024 5.8
Idaho, Montana, Wyoming ......................................................... 1,475 1.8 1,148 1.6
Arizona, Nevada, New Mexico, Utah ............................................... 2,951 3.7 2,917 4.2
Total banking region ............................................................ 52,511 65.3 46,333 66.2
Florida, Michigan, New York, Pennsylvania, Texas ................................. 14,036 17.5 11,762 16.8
All other states .................................................................... 13,830 17.2 11,938 17.0
Total outside Company’s banking region ........................................ 27,866 34.7 23,700 33.8
Total ............................................................................ $80,377 100.0% $70,033 100.0%
Residential Mortgages Residential mortgages held in the loan
portfolio at December 31, 2014, increased $463 million (.9
percent) over December 31, 2013. Average residential
mortgages increased $3.8 billion (8.0 percent) in 2014,
compared with 2013. The increase in average balances
reflected growth in the portfolio during 2013 from origination
and refinancing activity due to the low interest rate
environment during the period. Residential mortgages
originated and placed in the Company’s loan portfolio are
primarily well-secured jumbo mortgages and branch-
originated first lien home equity loans to borrowers with high
credit quality. The Company generally retains portfolio loans
through maturity; however, the Company’s intent may
change over time based upon various factors such as
ongoing asset/liability management activities, assessment of
product profitability, credit risk, liquidity needs, and capital
implications. If the Company’s intent or ability to hold an
existing portfolio loan changes, it is transferred to loans held
for sale.
Credit Card Total credit card loans increased $494 million
(2.7 percent) at December 31, 2014, compared with
December 31, 2013. Average credit card balances increased
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