secwatch.observer — SEC 8-K summary
======================================

Issuer:     AMERICAN EXPRESS CO (AXP)
CIK:        0000004962
Form:       8-K
Filed at:   2025-02-18T23:59:59+00:00
Accession:  0000004962-25-000020
Event type: other_material
Sentiment:  negative
Materiality: 0.55
Item codes: 7.01
LLM model:  deepseek-v4-flash:cloud@v2

AmEx Jan U.S. Consumer net write-off rate 2.3%, Small Biz 2.5% — both up from Dec
--------------------------------------------------------------------------------

- U.S. Consumer 30+ day delinquency rate flat at 1.4%; net write-off rate rose to 2.3% from 2.1% in Dec.
- U.S. Small Business 30+ day delinquency 1.6% (up 10 bps); net write-off rate 2.5%, up from 2.4% in Dec.
- Total U.S. Consumer+Small Biz loans $119.5B at Jan 31; $758M Lowe's cobrand loans reclassified to held for sale.
- Lending Trust annualized default rate rose to 1.5% for Jan from 1.2% in Dec; total defaulted $0.05B.
- All write-off rates are principal-only; metrics exclude the reclassified Lowe's portfolio.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000020/0000004962-25-000020-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/4962/000000496225000020/axp-20250218.htm
  HTML page:      https://secwatch.observer/filing/0000004962-25-000020

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer