The company said U.S. Bancorp net income attributable to U.S. Bancorp for Q4 2024 was $1,663 million, and diluted earnings per share were $1.01. Excluding notable items of $109 million ($82 million after tax), net income was $1,745 million and earnings per share were $1.07.

1. 01

   The company said U.S. Bancorp net income attributable to U.S. Bancorp for Q4 2024 was $1,663 million, and diluted earnings per share were $1.01. Excluding notable items of $109 million ($82 million after tax), net income was $1,745 million and earnings per share were $1.07.

2. 02

   U.S. Bancorp said net interest income on a taxable-equivalent basis for Q4 2024 was $4,176 million, up 0.8% from a year earlier. The net interest margin was 2.71%, lower than 2.78% in Q4 2023 and 2.74% in Q3 2024.

3. 03

   The company said its provision for credit losses for Q4 2024 was $560 million, up $48 million (9.4%) from a year earlier. The net charge-off ratio was 0.60%, the same as in Q3 2024 and higher than 0.49% in Q4 2023.

4. 04

   The company said its Basel III standardized common equity tier 1 capital ratio as of December 31, 2024 was 10.6%, compared with 10.5% as of September 30, 2024 and 9.9% as of December 31, 2023. The board approved a share repurchase of up to $5.0 billion, and the company began repurchasing shares in Q4.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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