Consolidated Balance Sheet - USD ($) |
Dec. 31, 2018 |
Dec. 31, 2017 |
|||||
---|---|---|---|---|---|---|---|
Assets | |||||||
Cash and due from banks | $ 21,453 | $ 19,505 | |||||
Investment securities | |||||||
Held-to-maturity (fair value $44,964 and $43,723, respectively) | 46,050 | 44,362 | |||||
Available-for-sale ($2,057 and $689 pledged as collateral, respectively) | [1] | 66,115 | 68,137 | ||||
Loans held for sale (including $2,035 and $3,534 of mortgage loans carried at fair value, respectively) | 2,056 | 3,554 | |||||
Loans | |||||||
Commercial | 102,444 | 97,561 | |||||
Commercial real estate | 39,539 | 40,463 | |||||
Residential mortgages | 65,034 | 59,783 | |||||
Credit card | 23,363 | 22,180 | |||||
Other retail | 56,430 | 57,324 | |||||
Covered loans | 3,121 | ||||||
Total loans | 286,810 | 280,432 | |||||
Less allowance for loan losses | (3,973) | (3,925) | |||||
Net loans | 282,837 | 276,507 | |||||
Premises and equipment | 2,457 | 2,432 | |||||
Goodwill | 9,369 | 9,434 | |||||
Other intangible assets | 3,392 | 3,228 | |||||
Other assets (including $843 and $238 of trading securities at fair value pledged as collateral, respectively) | [1] | 33,645 | 34,881 | ||||
Total assets | 467,374 | 462,040 | |||||
Deposits | |||||||
Noninterest-bearing | 81,811 | 87,557 | |||||
Interest-bearing | [2] | 263,664 | 259,658 | ||||
Total deposits | 345,475 | 347,215 | |||||
Short-term borrowings | 14,139 | 16,651 | |||||
Long-term debt | 41,340 | 32,259 | |||||
Other liabilities | 14,763 | 16,249 | |||||
Total liabilities | 415,717 | 412,374 | |||||
Shareholders' equity | |||||||
Preferred stock | 5,984 | 5,419 | |||||
Common stock, par value $0.01 a share - authorized: 4,000,000,000 shares; issued: 2018 and 2017 - 2,125,725,742 shares | 21 | 21 | |||||
Capital surplus | 8,469 | 8,464 | |||||
Retained earnings | 59,065 | 54,142 | |||||
Less cost of common stock in treasury: 2018 - 517,391,021 shares; 2017 - 470,080,231 shares | (20,188) | (17,602) | |||||
Accumulated other comprehensive income (loss) | (2,322) | (1,404) | |||||
Total U.S. Bancorp shareholders' equity | 51,029 | 49,040 | |||||
Noncontrolling interests | 628 | 626 | |||||
Total equity | 51,657 | 49,666 | |||||
Total liabilities and equity | $ 467,374 | $ 462,040 | |||||
|
Consolidated Statement of Income - USD ($) |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2018 |
Dec. 31, 2017 |
Dec. 31, 2016 |
|
Interest Income | |||
Loans | $ 13,120 | $ 11,788 | $ 10,777 |
Loans held for sale | 165 | 144 | 154 |
Investment securities | 2,616 | 2,232 | 2,078 |
Other interest income | 272 | 182 | 125 |
Total interest income | 16,173 | 14,346 | 13,134 |
Interest Expense | |||
Deposits | 1,869 | 1,041 | 622 |
Short-term borrowings | 378 | 141 | 92 |
Long-term debt | 1,007 | 784 | 754 |
Total interest expense | 3,254 | 1,966 | 1,468 |
Net interest income | 12,919 | 12,380 | 11,666 |
Provision for credit losses | 1,379 | 1,390 | 1,324 |
Net interest income after provision for credit losses | 11,540 | 10,990 | 10,342 |
Noninterest Income | |||
Credit and debit card revenue | 1,401 | 1,289 | 1,206 |
Corporate payment products revenue | 644 | 575 | 541 |
Merchant processing services | 1,531 | 1,486 | 1,498 |
ATM processing services | 308 | 303 | 277 |
Trust and investment management fees | 1,619 | 1,522 | 1,427 |
Deposit service charges | 762 | 732 | 706 |
Treasury management fees | 594 | 618 | 583 |
Commercial products revenue | 895 | 954 | 971 |
Mortgage banking revenue | 720 | 834 | 979 |
Investment products fees | 188 | 173 | 169 |
Securities gains (losses), net | |||
Realized gains (losses), net | 30 | 57 | 27 |
Total other-than-temporary impairment | (6) | ||
Portion of other-than-temporary impairment recognized in other comprehensive income (loss) | 1 | ||
Total securities gains (losses), net | 30 | 57 | 22 |
Other | 910 | 774 | 911 |
Total noninterest income | 9,602 | 9,317 | 9,290 |
Noninterest Expense | |||
Compensation | 6,162 | 5,746 | 5,212 |
Employee benefits | 1,231 | 1,134 | 1,008 |
Net occupancy and equipment | 1,063 | 1,019 | 988 |
Professional services | 407 | 419 | 502 |
Marketing and business development | 429 | 542 | 435 |
Technology and communications | 978 | 903 | 877 |
Postage, printing and supplies | 324 | 323 | 311 |
Other intangibles | 161 | 175 | 179 |
Other | 1,709 | 2,529 | 2,015 |
Total noninterest expense | 12,464 | 12,790 | 11,527 |
Income before income taxes | 8,678 | 7,517 | 8,105 |
Applicable income taxes | 1,554 | 1,264 | 2,161 |
Net income | 7,124 | 6,253 | 5,944 |
Net (income) loss attributable to noncontrolling interests | (28) | (35) | (56) |
Net income attributable to U.S. Bancorp | 7,096 | 6,218 | 5,888 |
Net income applicable to U.S. Bancorp common shareholders | $ 6,784 | $ 5,913 | $ 5,589 |
Earnings per common share | $ 4.15 | $ 3.53 | $ 3.25 |
Diluted earnings per common share | $ 4.14 | $ 3.51 | $ 3.24 |
Average common shares outstanding | 1,634 | 1,677 | 1,718 |
Average diluted common shares outstanding | 1,638 | 1,683 | 1,724 |
Compute the following ratios for as many years as you can, showing your numerator and denominator, as well as the ratio result:
Return on equity
Return on assets
Net interest margin
Net noninterest margin
Earnings spread
Net operating margin
Net profit margin (use net income/total revenue)
Tax management efficiency ratio
Expense control efficiency ratio
Asset utilization ratio (total revenue/total assets)
Equity multiplier (total assets/total stockholders’ equity).
Complete the following: Create a table that shows the final results of all these ratios for the past two years (2017-2018) - SHOW SOLUTIONS PLEASE.
Dec. 31, 2018 | Dec. 31, 2017 | |
Return on Equity = Net income applicable to U.S. Bancorp common shareholders/Average Total equity | 13.39% | 11.91% |
Average total Equity = (Equity of 2018+Equity of 2017)/2 | ||
Return on Assets=Net income applicable to U.S. Bancorp common shareholders/Average Total Assets | 1.27% | 1.21% |
Average total Assets = Assets of 2018+ Assets of 2017)/2 | ||
Net interest margin=Net Interest Income/ Net Loan | 4.57% | 4.48% |
Net Non-Interest income= (non-interest income - non-interest expense)/ (total earning assets). | -0.63% | -0.77% |
Total Earing Assets= Total Assets-goodwill-other intangible assets | ||
Earnings Spread= (Total Interest Income / Total Earning Assets) - (Total Interest Expense / Total Interest-Bearing Liabilities) | 0.023 | 0.024 |
Net operating margin=Income before taxes/(total Non interest income+interesr income) | 0.337 | 0.318 |
Net profit margin= Net income applicable to U.S. Bancorp common shareholders/(total Non interest income+interesr income) | 0.263 | 0.250 |
Tax management efficiency ratio=Net Income after Tax / Net Operating Income before Tax | 0.821 | 0.832 |
Efficiency ratio = Noninterest Expenses/ (Operating Income – Loan Loss Provision) | 2.649 | 3.561 |
Asset utilization ratio =(total Non interest income+interesr income)/total assets) | 0.055 | 0.051 |
Equity multiplier =(total assets/total stockholders’ equity). | 9.048 | 9.303 |
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