U.S. Bancorp (USB) reported Wednesday that net income e attributable to U.S. Bancorp for the fourth quarter grew to $1.52 billion or $0.95 per share from $1.49 billion or $0.90 per share in the prior-year quarter.
The company said the increase in net income year-over-year was primarily due to higher noninterest income as well as lower noninterest expense, partially offset by lower net interest income and higher provision for credit losses.
Net revenue for the quarter increased to $5.75 billion, including $3.20 billion of net interest income and $2.55 billion of noninterest income, from $5.67 billion, including $3.23 billion of net interest income and $2.44 billion of noninterest income, in the same quarter last year.
On average, analysts polled by Thomson Reuters expected the company to report earnings of $0.95 per share on revenue of $5.82 billion for the quarter. Analysts' estimates typically exclude certain special items.
Provision for credit losses for the quarter was $441 million, up from $395 last year.
The Company said it expects credit quality metrics, including nonperforming assets, to remain elevated and volatility in net charge-offs given current economic conditions.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.