$USB (U.S. Bancorp)

$USB {{ '2016-10-19T11:30:00+0000' | timeago}} • Announcement

$USB's provision for credit losses for 3Q16 was $325MM, which was relatively flat to 2Q16 and $43MM or 15.2% higher than last year. Credit quality was stable compared with 2Q16. The allowance for credit losses was $4.34Bil at Sept. 30, 2016, compared with $4.31Bil at Sept. 30, 2015.

$USB {{ '2017-10-19T09:18:15+0000' | timeago}} • Webcast

For 4Q17 and FY18, $USB expects to deliver positive operating leverage on a year-over-year basis, supported by expense growth in the 3-5% range. However, credit quality is expected to remain stable.

$USB {{ '2017-10-19T09:15:16+0000' | timeago}} • Webcast

$USB's credit and debit card revenue during 3Q17 increased 3% on year-over-year basis, helped by higher sales volumes. The company's Trust and asset management revenue grew 5%, reflecting business growth and favorable market conditions. Merchant processing revenue was down 1.7%.

$USB {{ '2017-10-18T14:07:01+0000' | timeago}} • Infographic

$USB U.S. Bancorp Earnings AlphaGraphics: Q3 2017 highlights

$USB {{ '2017-10-18T13:50:43+0000' | timeago}} • Announcement

$USB's net interest margin during 3Q17 was 12 basis points higher than 3Q16 and 6 basis points higher than 2Q17. This increase in the net margin was due to higher interest rates and loan portfolio mix. Average loans grew 3% during the quarter.

$USB {{ '2017-10-18T13:41:06+0000' | timeago}} • Announcement

Minneapolis-based regional bank $USB reported 4% growth in its 3Q17 profit, helped by higher interest rates. Net income rose to $1.56Bil, or $0.88 per share, compared with $1.50Bil, or $0.84 per share during 3Q16. Revenue rose 4% YoY to $5.61Bil. Net interest income rose 8% from the prior year period.

$USB {{ '2017-10-18T13:27:05+0000' | timeago}} • Announcement

$USB's BoD elected Richard McKenney as a director of the company, effective immediately. McKenney is the president and CEO of Chattanooga, Tenn., based $UNM.

$USB {{ '2017-10-10T15:03:59+0000' | timeago}} • Announcement

$USB announced yesterday that its Voyager fleet cards will be using EMV M/Chip technology from $MA. Voyager is the first fleet card network to use the technology. $MA introduced the M/Chip solution last year to improve transaction time at the terminal. Post the liability shift deadline of Oct. 2015, migration towards EMV-based cards started in US.

$USB {{ '2017-09-19T15:37:14+0000' | timeago}} • Announcement

$USB said its BoD approved a quarterly dividend of $0.30 per share, an increase of 7.1%. The dividend is payable on Oct. 16, 2017, to stockholders of record on Sept. 29, 2017.

$USB {{ '2017-07-20T15:19:04+0000' | timeago}} • Webcast

$USB reported a 5.9% increase in its net interest income of $3Bil. Net interest margin rose 1 basis point to 3.04%, in-line with the guidance. This increase was mainly due to the increase in interest rates.

$USB {{ '2017-07-20T15:11:46+0000' | timeago}} • Webcast

$USB posted a 2Q17 earnings rise, helped by solid loan growth and an uptick in net interest margin. Loans grew 0.9% from 1Q17. Based on the current trends, the bank expects 3Q17 total loan growth to be in the range of 1-5%

$USB {{ '2017-07-19T14:14:20+0000' | timeago}} • Announcement

Financial services company $USB reported a 1.4% drop in its 2Q17 net attributable income mainly due to lower noninterest income. Net income fell to $1.58Bil from $1.52Bil during the prior year quarter. However, diluted EPS rose 2.4% to $0.85 from $0.83 during 2Q16. Revenue rose to $5.4Bil.

$USB {{ '2017-07-19T14:01:28+0000' | timeago}} • Infographic

$USB U.S. Bancorp Earnings AlphaGraphics: Q2 2017 highlights

$USB {{ '2017-07-19T12:19:59+0000' | timeago}} • Announcement

$USB posted net interest margin of 3.04% during 2Q17, which was 2 basis points higher than 2Q16. This was mainly due to the increased interest rates. Average total loans were up 3.4% over 2Q16.

$USB {{ '2017-07-19T12:15:47+0000' | timeago}} • Announcement

$USB received a boost from increase in interest rates by the Federal Reserve. Higher interest rates and loan growth resulted in 5.9% increase in net interest income to $3.1Bil during 2Q17. Noninterest income rose 2% mainly due to higher payment services revenue.

$USB {{ '2017-07-13T13:20:20+0000' | timeago}} • Announcement

U.S. Bank National Association, a subsidiary of $USB, announced the redemption on July 23, 2017, of all of its outstanding Floating Rate Senior Notes due Aug. 23, 2017.

$USB {{ '2017-06-28T20:52:00+0000' | timeago}} • Announcement

The Federal Reserve informed that it did not object to the $USB’s 2017 Capital Plan. As a result of the Federal Reserve’s non-objection to U.S. Bancorp’s plan to increase its dividend rate, $USB expects to recommend a third quarter dividend of $0.30 per common share, a 7.1% increase over the current dividend rate, to its BoD for approval.

$USB {{ '2017-06-20T15:34:32+0000' | timeago}} • Announcement

$USB declared quarterly dividend of $884.72 per share on its Series A Non-Cumulative Perpetual Preferred Stock, payable July 17, 2017, to stockholders as on June 30, 2017. It also declared a quarterly dividend of $221.18 per share on its Series B Non-Cumulative Perpetual Preferred Stock, payable July 17, 2017, to stockholders as on June 30, 2017.

$USB {{ '2017-06-20T15:31:55+0000' | timeago}} • Announcement

$USB has declared a regular quarterly dividend of $0.28 per common share, payable July 17, 2017, to stockholders as on June 30, 2017.

$USB {{ '2017-06-16T19:26:30+0000' | timeago}} • Announcement

$USB said Tim Welsh will join US Bank as Vice Chairman of Consumer Banking Sales and Support on July 10. He will replace Kent Stone, who will be retiring, and he will report to CEO Andy Cecere in his new role. Mr. Welsh joins US Bank from McKinsey & Co.

$USB {{ '2017-06-16T10:54:22+0000' | timeago}} • Announcement

$USB has raised its prime lending rate to 4.25% from 4%, effective June 15, 2017, at all US Bank locations. US Bancorp last announced a change in its prime lending rate on March 15, 2017, when it was increased 25BP to 4%.

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