$USB (U.S. Bancorp)

$USB {{ '2016-09-19T12:48:30+0000' | timeago}} • Announcement

$USB's BoD approved a 9.8% increase in the dividend rate on common stock to $1.12 on annualized basis, or $0.28 on a quarterly basis. The dividend is payable on Oct. 17, 2016, to stockholders of record on Sept. 30, 2016.

$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%.

$USB {{ '2017-05-11T19:39:53+0000' | timeago}} • Announcement

$USB appointed Mark Herman as its Salt Lake City market president, effective June 4. Herman will lead the market in company-wide efforts and activities, and will direct commercial banking in the greater Salt Lake City area. Herman will succeed Damon Miller who has recently announced his retirement.

$USB {{ '2017-05-03T17:47:36+0000' | timeago}} • Announcement

U.S. Bank, the subsidiary of $USB, said it appointed Joseph Giordano as president of its Global Corporate Trust Services (GCTS) division, effective June 1, 2017. Giordano is succeeding Bryan Calder, who has announced his plans to retire this summer.

$USB {{ '2017-05-02T15:40:49+0000' | timeago}} • Announcement

$USB said its Healthcare Division has acted as sole bookrunner in providing a $300MM revolving line of credit to Adventist Health System West. Adventist Health is a faith-based, not-for-profit health delivery system operating 20 hospitals and nearly 3,000 beds, as well as more than 260 clinics and other agencies.

$USB {{ '2017-04-26T20:20:43+0000' | timeago}} • Announcement

Kate Quinn, EVP and chief strategy and reputation officer of $USB, has been promoted to vice chairman and chief administrative officer. Meanwhile, Kent Stone, vice chairman of Consumer Banking Sales and Support, will retire from the company this summer. A search is on for a replacement.

$USB {{ '2017-04-19T13:43:34+0000' | timeago}} • Webcast

$USB said that net interest margin for 2Q17 is going to end up expanding slightly. However, the company does see a growth in net interest margin as it gets into the third and fourth quarter. On the efficiency ratio, $USB expects efficiency ratio to be in the low 50s which is still its goal and target.

$USB {{ '2017-04-19T11:31:30+0000' | timeago}} • Announcement

$USB posted a 3-basis point slump in net interest margin of 3.03% for 1Q17. Return on average common equity was 13.3%, vs. 13.0% a year ago, while efficiency ratio rose to 55.6% from 54.6%. Average total loans were $10.9Bil, up 4.1%. Average total deposits grew 11% to $32.6Bil. Provision for credit losses for the quarter was 4.5% higher at $345MM.

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