U.S. Bancorp said net income attributable to the company in 2025 was $7.6 billion, or $4.62 per diluted common share, compared with $6.3 billion, or $3.79 per diluted common share, in 2024. Diluted earnings per common share increased 21.9% compared with 2024.

10-KAnnual reportFiled Feb 23, 2026Period of report Dec 31, 2025Summary published (UTC) Oct 2, 2026

Key points

AI summary

U.S. Bancorp said net income attributable to the company in 2025 was $7.6 billion, or $4.62 per diluted common share, compared with $6.3 billion, or $3.79 per diluted common share, in 2024. Diluted earnings per common share increased 21.9% compared with 2024.
The company said net interest income in 2025 increased $360 million, or 2.2%, noninterest income increased $845 million, or 7.6%, and noninterest expense decreased $351 million, or 2.0%.
U.S. Bancorp said the allowance for credit losses as of December 31, 2025 was $7.9 billion, with the ratio to period-end loans at 2.03% compared with 2.09% as of 12 31, 2024. Nonperforming assets were $1.6 billion, a decrease of $242 million, or 13.2%.
The company said on January 2026 it entered into a definitive agreement to acquire BTIG for a purchase price of up to $1 billion. It will pay $725 million at closing, consisting of $362.5 million in cash and 6,600,594 shares of common stock, with up to $275 million in additional cash consideration payable over 3 years, subject to achievement of defined performance targets. The company said the transaction is expected to close in Q2 2026.

Key figures

Fiscal year ended December 31, 2025

Revenue: $28.7B
Net income: $7.6B
EPS: $4.62
Operating cash flow: $8.0B

From the XBRL financial data filed with the SEC · not processed by AI.

Summary

AI-written

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

2025 Net Income and Diluted Earnings Per Share

U.S. Bancorp said net income attributable to the company in 2025 was $7.6 billion, or $4.62 per diluted common share, compared with $6.3 billion, or $3.79 per diluted common share, in 2024. Diluted earnings per common share increased 21.9% compared with 2024.

Source · Based on the MD&A text of the filing

Changes in Net Interest Income, Noninterest Income and Noninterest Expense

The company said net interest income in 2025 increased $360 million, or 2.2%, noninterest income increased $845 million, or 7.6%, and noninterest expense decreased $351 million, or 2.0%.

Source · Based on the MD&A text of the filing

2025 Credit Quality Indicators

U.S. Bancorp said the allowance for credit losses as of December 31, 2025 was $7.9 billion, with the ratio to period-end loans at 2.03% compared with 2.09% as of 12 31, 2024. Nonperforming assets were $1.6 billion, a decrease of $242 million, or 13.2%.

Source · Based on the MD&A text of the filing

BTIG Acquisition Agreement

The company said on January 2026 it entered into a definitive agreement to acquire BTIG for a purchase price of up to $1 billion. It will pay $725 million at closing, consisting of $362.5 million in cash and 6,600,594 shares of common stock, with up to $275 million in additional cash consideration payable over 3 years, subject to achievement of defined performance targets. The company said the transaction is expected to close in Q2 2026.

Source · Based on the MD&A text of the filing

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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