US Bank 2014 Annual Report Download - page 37

TABLE 11 OTHER RETAIL LOANS BY GEOGRAPHY
2014 2013
At December 31 (Dollars in Millions) Loans Percent Loans Percent
California ............................................................................. $ 6,640 13.5% $ 5,785 12.1%
Colorado .............................................................................. 1,931 3.9 1,921 4.0
Illinois ................................................................................ 2,808 5.7 2,295 4.8
Minnesota............................................................................. 3,666 7.4 3,815 8.0
Missouri .............................................................................. 2,142 4.4 2,160 4.5
Ohio ................................................................................... 2,626 5.3 2,638 5.5
Oregon ................................................................................ 1,604 3.3 1,627 3.4
Washington ........................................................................... 1,731 3.5 1,793 3.8
Wisconsin ............................................................................. 1,729 3.5 1,785 3.8
Iowa, Kansas, Nebraska, North Dakota, South Dakota ................................ 2,329 4.7 2,378 5.0
Arkansas, Indiana, Kentucky, Tennessee .............................................. 2,819 5.7 2,824 5.9
Idaho, Montana, Wyoming ............................................................. 975 2.0 986 2.1
Arizona, Nevada, New Mexico, Utah ................................................... 2,362 4.8 2,165 4.6
Total banking region................................................................ 33,362 67.7 32,172 67.5
Florida, Michigan, New York, Pennsylvania, Texas .................................... 8,328 16.9 7,681 16.1
All other states........................................................................ 7,574 15.4 7,825 16.4
Total outside Company’s banking region ........................................... 15,902 32.3 15,506 32.5
Total ............................................................................... $49,264 100.0% $47,678 100.0%
Of the total residential mortgages, credit card and other
retail loans outstanding at December 31, 2014, approximately
73.0 percent were to customers located in the Company’s
primary banking region compared with 72.8 percent at
December 31, 2013. Tables 9, 10 and 11 provide a geographic
summary of residential mortgages, credit card loans and
other retail loans outstanding, respectively, as of
December 31, 2014 and 2013. The collateral for $3.5 billion of
residential mortgages and other retail loans included in
covered loans at December 31, 2014 was in California,
compared with $3.9 billion at December 31, 2013.
Loans Held for Sale Loans held for sale, consisting primarily
of residential mortgages to be sold in the secondary market,
were $4.8 billion at December 31, 2014, compared with $3.3
billion at December 31, 2013. The increase in loans held for
sale was principally due to a higher level of mortgage loan
closings during the fourth quarter of 2014, compared with
the fourth quarter of 2013.
Almost all of the residential mortgage loans the
Company originates or purchases for sale follow guidelines
that allow the loans to be sold into existing, highly liquid
secondary markets; in particular in government agency
transactions and to government sponsored enterprises
(“GSEs”).
TABLE 12 SELECTED LOAN MATURITY DISTRIBUTION
At December 31, 2014 (Dollars in Millions)
One Year
or Less
Over One
Through
Five Years
Over Five
Years Total
Commercial ......................................................................... $25,810 $ 51,366 $ 3,201 $ 80,377
Commercial real estate ............................................................. 9,794 26,135 6,866 42,795
Residential mortgages .............................................................. 2,562 7,838 41,219 51,619
Credit card .......................................................................... 18,515 – – 18,515
Other retail .......................................................................... 9,118 26,933 13,213 49,264
Covered loans ....................................................................... 559 1,028 3,694 5,281
Total loans........................................................................ $66,358 $113,300 $68,193 $247,851
Total of loans due after one year with
Predetermined interest rates ..................................................... $ 79,785
Floating interest rates ............................................................ $101,708
U.S. BANCORP The power of potential
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