New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 16, 2014
07:17 EDTUSBU.S. Bancorp reports Q1 EPS 73c, consensus 73c
Reports Q1 revenue $4.81B, consensus $4.8B. U.S. Bancorp Chairman, President and CEO Richard K. Davis said, “Our first quarter earnings of $1.4 billion, or $.73 per diluted common share, demonstrated our Company’s ability to generate strong results in the face of a slow-growing and uncertain economy. Our industry-leading returns on average assets of 1.56 percent and average common equity of 14.6 percent, combined with our strong efficiency ratio of 52.9 percent, remain among the top performance ratios in our peer group. Our performance clearly reflects the advantage of our diversified business mix and disciplined expense management which has enabled us to withstand the revenue challenges facing our industry in this slow-growth economy. Average loan growth remained strong at 6.0 percent year-over-year and 1.3 percent on a linked quarter basis. Total loan and commitment growth continued to be an area of strength for the Bank, particularly highlighted by our commercial business, which grew loans by 8.5 percent year-over-year and 2.8 percent on a linked quarter basis. This growth demonstrates our ability to gain market share as customers choose to partner with us to expand their businesses when opportunities arise. Credit quality continued to be strong in the first quarter as net charge-offs declined 21.2 percent compared with the prior year and rose modestly on a linked quarter basis due to unusually high recoveries in the prior quarter. Nonperforming assets, excluding covered assets, fell by 1.0 percent and delinquencies also improved in the quarter. Overall credit quality is expected to remain relatively stable in the coming quarters."
News For USB From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 5, 2015
18:08 EDTUSBU.S. Bancorp releases results of 2015 Dodd-Frank Stress Test
Subscribe for More Information
16:47 EDTUSBFed stress test reveal all 31 banks meet capital requirements
Subscribe for More Information
March 4, 2015
07:22 EDTUSBBanks, not Apple, on hook for 'post-Apple Pay fraud,' says Trustev
Subscribe for More Information
March 2, 2015
09:03 EDTUSBU.S. Bancorp announces working with Samsung mobile payment service
Subscribe for More Information
February 26, 2015
15:02 EDTUSBFed extends capital surcharge for SiFi banks comment period to April 3
The Federal Reserve extended until April 3 the comment period for its proposed rule to implement capital surcharges for the largest, most systemically important U.S. bank holding companies. The Fed extended the comment period to allow interested persons more time to analyze the issues and prepare their comments. Originally, comments were due by March 2. The proposed rule would establish a methodology to identify whether a firm is a global systemically important banking organization and would also establish the size of a firm's risk-based capital surcharge. The proposal is designed to further strengthen the capital positions of these institutions. Large U.S. banks include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
10:50 EDTUSBNew York regulator considering cybersecurity, cash laundering controls, WSJ says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use