$USB · US BANCORP \DE\
U.S. Bancorp filed its 10-Q for the quarter ended September 30, 2026. Net income attributable to U.S. Bancorp was $2.202B, up 10.0% from $2.001B a year earlier, with diluted EPS of $1.34 versus $1.22. Total net revenue rose 8.7% to $7.97B, driven by a 5.8% increase in net interest income and a 13.1% jump in noninterest income.
- Net interest income rose 5.8% to $4.468B on loan growth and a small business credit card portfolio purchase.
- Noninterest income climbed 13.1% to $3.480B, helped by capital markets revenue and the BTIG acquisition.
- Average loans grew 8.0% to $409.5B; average deposits rose 2.9% to $526.6B.
- Provision for credit losses increased 14.5% to $654M, partly from the credit card portfolio purchase.
- CET1 capital ratio held at 10.8%; allowance for credit losses was $8.2B.
Markets closed — no regular-session reaction yet; extended-hours move not captured here.
U.S. Bancorp delivered double-digit earnings growth with expanding net interest margin, but rising credit provisions bear watching.
Regional and super-regional banks are benefiting from loan growth and fixed-asset repricing, with U.S. Bancorp's 2.84% net interest margin up from 2.75% a year ago.
Provision for credit losses rose 14.5% to $654M, and the allowance-to-loans ratio slipped to 1.97% from 2.03%, reflecting the credit card portfolio purchase and a shifting credit mix.