by Calculated Risk on 7/15/2008 08:38:00 AM

From the WSJ: Loss Provisions Hit U.S. Bancorp

The bank tripled its credit-loss provision from $191 million a year earlier to $596 million, citing "continuing stress in the residential real estate markets, including homebuilding and related supplier industries, driven by declining home prices in most geographic regions," as well as "current economic conditions and the corresponding impact on the commercial and consumer loan portfolios."
...
Net charge-offs increased to 0.98% of average loans outstanding from 0.76% in the first quarter and 0.59% in the prior year.

The beat goes on ...