US Bank 2014 Annual Report Download - page 71

Wealth Management and
Securities Services
Payment
Services
Treasury and
Corporate Support
Consolidated
Company
2014 2013
Percent
Change 2014 2013
Percent
Change 2014 2013
Percent
Change 2014 2013
Percent
Change
$ 370 $ 342 8.2% $ 1,740 $ 1,584 9.8% $ 2,513 $ 2,293 9.6% $ 10,997 $ 10,828 1.6%
1,395 1,267 10.1 3,292 3,205 2.7 896 309 * 9,161 8,765 4.5
– – – – – – 3 9 (66.7) 3 9 (66.7)
1,765 1,609 9.7 5,032 4,789 5.1 3,412 2,611 30.7 20,161 19,602 2.9
1,349 1,306 3.3 2,356 2,282 3.2 1,002 763 31.3 10,516 10,051 4.6
33 37 (10.8) 121 137 (11.7) – – – 199 223 (10.8)
1,382 1,343 2.9 2,477 2,419 2.4 1,002 763 31.3 10,715 10,274 4.3
383 266 44.0 2,555 2,370 7.8 2,410 1,848 30.4 9,446 9,328 1.3
9 6 50.0 766 769 (.4) 18 54 (66.7) 1,229 1,340 (8.3)
374 260 43.8 1,789 1,601 11.7 2,392 1,794 33.3 8,217 7,988 2.9
137 94 45.7 651 582 11.9 189 2 * 2,309 2,256 2.3
237 166 42.8 1,138 1,019 11.7 2,203 1,792 22.9 5,908 5,732 3.1
– – – (35) (39) 10.3 (22) 143 * (57) 104 *
$ 237 $ 166 42.8 $ 1,103 $ 980 12.6 $ 2,181 $ 1,935 12.7 $ 5,851 $ 5,836 .3
$ 1,960 $ 1,711 14.6% $ 6,542 $ 6,086 7.5% $ 169 $ 208 (18.8)% $ 75,734 $ 67,274 12.6%
607 652 (6.9) – – – 195 96 * 40,592 38,237 6.2
1,383 875 58.1 – – – 1 1 – 51,818 47,982 8.0
– – – 17,635 16,813 4.9 – – – 17,635 16,813 4.9
1,456 1,533 (5.0) 672 737 (8.8) – – – 48,353 47,125 2.6
5,406 4,771 13.3 24,849 23,636 5.1 365 305 19.7 234,132 217,431 7.7
4 14 (71.4) 5 5 – 1,582 3,095 (48.9) 7,560 10,043 (24.7)
5,410 4,785 13.1 24,854 23,641 5.1 1,947 3,400 (42.7) 241,692 227,474 6.3
1,568 1,535 2.1 2,514 2,511 .1 – – – 9,312 9,164 1.6
159 173 (8.1) 483 572 (15.6) – 2 * 3,338 3,178 5.0
8,489 7,644 11.1 31,098 29,844 4.2 109,892 97,764 12.4 380,004 352,680 7.7
15,120 14,595 3.6 739 703 5.1 1,183 581 * 73,455 69,020 6.4
5,866 4,789 22.5 555 449 23.6 1 1 – 53,248 48,792 9.1
29,288 26,819 9.2 78 57 36.8 106 90 17.8 98,173 87,428 12.3
3,899 4,903 (20.5) – – – 1,765 694 * 41,764 45,217 (7.6)
54,173 51,106 6.0 1,372 1,209 13.5 3,055 1,366 * 266,640 250,457 6.5
2,283 2,385 (4.3) 5,697 6,046 (5.8) 15,631 11,981 30.5 42,837 39,917 7.3
Designations, assignments and allocations change from
time to time as management systems are enhanced,
methods of evaluating performance or product lines change
or business segments are realigned to better respond to the
Company’s diverse customer base. During 2014, certain
organization and methodology changes were made and,
accordingly, 2013 results were restated and presented on a
comparable basis.
Wholesale Banking and Commercial Real Estate
Wholesale Banking and Commercial Real Estate offers
lending, equipment finance and small-ticket leasing,
depository services, treasury management, capital markets,
international trade services and other financial services to
middle market, large corporate, commercial real estate,
financial institution, non-profit and public sector clients.
Wholesale Banking and Commercial Real Estate contributed
$1.1 billion of the Company’s net income in 2014, or a
decrease of $135 million (10.8 percent) compared with 2013.
The decrease was primarily driven by a higher provision for
credit losses and lower net revenue.
Net revenue decreased $66 million (2.1 percent) in 2014,
compared with 2013. Net interest income, on a taxable-
equivalent basis, increased $50 million (2.5 percent) in 2014,
compared with 2013, driven by increases in average loans and
deposits, partially offset by lower rates and fees on loans.
Noninterest income decreased $116 million (10.6 percent) in
U.S. BANCORP The power of potential
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