US Bank 2015 Annual Report Download - page 154

U.S. Bancorp
Quarterly Consolidated Financial Data (Unaudited)
2015 2014
(Dollars in Millions, Except Per Share Data)
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
First
Quarter
Second
Quarter
Third
Quarter
Fourth
Quarter
Interest Income
Loans ................................... $2,493 $2,463 $2,520 $2,583 $2,522 $2,532 $2,518 $2,541
Loans held for sale ......................... 41 65 60 40 27 24 36 41
Investment securities ....................... 495 505 502 499 441 461 476 488
Other interest income ...................... 32 35 35 34 32 30 27 32
Total interest income ..................... 3,061 3,068 3,117 3,156 3,022 3,047 3,057 3,102
Interest Expense
Deposits ................................. 118 113 113 113 119 114 115 117
Short-term borrowings ...................... 61 62 66 56 69 63 72 59
Long-term debt ........................... 184 177 170 168 184 181 178 182
Total interest expense .................... 363 352 349 337 372 358 365 358
Net interest income ........................ 2,698 2,716 2,768 2,819 2,650 2,689 2,692 2,744
Provision for credit losses ................... 264 281 282 305 306 324 311 288
Net interest income after provision for credit
losses ................................. 2,434 2,435 2,486 2,514 2,344 2,365 2,381 2,456
Noninterest Income
Credit and debit card revenue ................ 241 266 269 294 239 259 251 272
Corporate payment products revenue ......... 170 178 190 170 173 182 195 174
Merchant processing services ................ 359 395 400 393 356 384 387 384
ATM processing services .................... 78 80 81 79 78 82 81 80
Trust and investment management fees ........ 322 334 329 336 304 311 315 322
Deposit service charges .................... 161 174 185 182 157 171 185 180
Treasury management fees .................. 137 142 143 139 133 140 136 136
Commercial products revenue ............... 200 214 231 222 205 221 209 219
Mortgage banking revenue .................. 240 231 224 211 236 278 260 235
Investment products fees ................... 47 48 46 44 46 47 49 49
Securities gains (losses), net ................. – – (1) 1 5 – (3) 1
Other ................................... 199 210 229 269 176 369 177 318
Total noninterest income .................. 2,154 2,272 2,326 2,340 2,108 2,444 2,242 2,370
Noninterest Expense
Compensation ............................ 1,179 1,196 1,225 1,212 1,115 1,125 1,132 1,151
Employee benefits ......................... 317 293 285 272 289 257 250 245
Net occupancy and equipment ............... 247 247 251 246 249 241 249 248
Professional services ....................... 77 106 115 125 83 97 102 132
Marketing and business development ......... 70 96 99 96 79 96 78 129
Technology and communications ............. 214 221 222 230 211 214 219 219
Postage, printing and supplies ............... 82 64 77 74 81 80 81 86
Other intangibles .......................... 43 43 42 46 49 48 51 51
Other ................................... 436 416 459 508 388 595 452 543
Total noninterest expense ................. 2,665 2,682 2,775 2,809 2,544 2,753 2,614 2,804
Income before income taxes ................. 1,923 2,025 2,037 2,045 1,908 2,056 2,009 2,022
Applicable income taxes .................... 479 528 534 556 496 547 523 521
Net income ............................... 1,444 1,497 1,503 1,489 1,412 1,509 1,486 1,501
Net (income) loss attributable to noncontrolling
interests ............................... (13) (14) (14) (13) (15) (14) (15) (13)
Net income attributable to U.S. Bancorp ....... $1,431 $1,483 $1,489 $1,476 $1,397 $1,495 $1,471 $1,488
Net income applicable to U.S. Bancorp common
shareholders ............................ $1,365 $1,417 $1,422 $1,404 $1,331 $1,427 $1,405 $1,420
Earnings per common share ................. $ .77 $ .80 $ .81 $ .80 $ .73 $ .79 $ .78 $ .79
Diluted earnings per common share ........... $ .76 $ .80 $ .81 $ .80 $ .73 $ .78 $ .78 $ .79
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