10/15/2026 | Press release | Distributed by Public on 10/15/2026 05:00
|
3Q26 Key Financial Data
|
3Q26 Financial Highlights
|
||||||||||||||||
|
PROFITABILITY METRICS
|
3Q26
|
2Q26
|
3Q25
|
•Record net revenue of $7,970 million, year-over-year increases of 5.6% in net interest income and 14.9% in fee revenue
•Net income of $2,202 million, an increase of 10.0% year-over-year
•Diluted earnings per common share of $1.34, an increase of 9.8% year-over-year
•Positive operating leverage of 240 basis points from the prior year quarter
•Return on average assets of 1.25% and efficiency ratio of 55.9%, both improved on a year-over-year basis
•Net interest margin of 2.84%, an increase of 9 basis points on a year-over-year basis
•CET1 capital ratio of 10.8% at September 30, 2026
•Average total deposits increase of 2.9% on a year-over-year basis and 2.2% on a linked quarter basis
•Average total loans increase of 8.0% on a year-over-year basis and 1.0% on a linked quarter basis
|
|||||||||||||
|
Return on average assets (%)
|
1.25
|
1.26
|
1.17
|
||||||||||||||
|
Return on average common equity (%)
|
13.6
|
14.0
|
13.5
|
||||||||||||||
|
Return on tangible common equity (%)(a)
|
18.5
|
18.7
|
18.6
|
||||||||||||||
|
Net interest margin (%)
|
2.84
|
2.79
|
2.75
|
||||||||||||||
|
Efficiency ratio (%)(a)
|
55.9
|
57.1
|
57.2
|
||||||||||||||
|
INCOME STATEMENT(b)
|
3Q26
|
2Q26
|
3Q25
|
||||||||||||||
|
Net interest income (taxable-equivalent basis)
|
$4,490
|
$4,387
|
$4,251
|
||||||||||||||
|
Noninterest income
|
$3,480
|
$3,325
|
$3,078
|
||||||||||||||
|
Noninterest expense
|
$4,493
|
$4,428
|
$4,197
|
||||||||||||||
|
Net income attributable to U.S. Bancorp
|
$2,202
|
$2,177
|
$2,001
|
||||||||||||||
|
Diluted earnings per common share
|
$1.34
|
$1.35
|
$1.22
|
||||||||||||||
|
Dividends declared per common share
|
$.54
|
$.52
|
$.52
|
||||||||||||||
|
BALANCE SHEET(b)
|
3Q26
|
2Q26
|
3Q25
|
||||||||||||||
|
Average total loans
|
$409,548
|
$405,481
|
$379,152
|
||||||||||||||
|
Average total deposits
|
$526,602
|
$515,080
|
$511,782
|
||||||||||||||
|
Net charge-off ratio (%)
|
.51
|
.53
|
.56
|
||||||||||||||
|
Book value per common share (period end)
|
$38.27
|
$38.91
|
$36.33
|
||||||||||||||
|
Tangible book value per common share (period end)(a)
|
$29.34
|
$30.04
|
$27.84
|
||||||||||||||
|
Basel III standardized CET1 (%)(c)
|
10.8
|
10.8
|
10.9
|
||||||||||||||
|
(a) See Non-GAAP Financial Measures reconciliation on page 16
(b) Dollars in millions, except per share data
(c) CET1 = Common equity tier 1 capital ratio
|
|||||||||||||||||
|
CEO Commentary
|
||
|
Business and Other Highlights
|
||
|
Investor contact: Brian Mauney, [email protected] | Media contact: Jeff Shelman, [email protected]
|
||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
INCOME STATEMENT HIGHLIGHTS
|
||||||||||||||||||||||||||
|
($ in millions, except per share data)
|
||||||||||||||||||||||||||
|
Percent Change
|
||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Percent Change
|
|||||||||||||||||||
|
Net interest income
|
$4,468
|
$4,361
|
$4,222
|
2.5
|
5.8
|
$13,092
|
$12,365
|
5.9
|
||||||||||||||||||
|
Taxable-equivalent adjustment
|
22
|
26
|
29
|
(15.4)
|
(24.1)
|
76
|
88
|
(13.6)
|
||||||||||||||||||
|
Net interest income (taxable-equivalent basis)
|
4,490
|
4,387
|
4,251
|
2.3
|
5.6
|
13,168
|
12,453
|
5.7
|
||||||||||||||||||
|
Noninterest income
|
3,480
|
3,325
|
3,078
|
4.7
|
13.1
|
9,802
|
8,838
|
10.9
|
||||||||||||||||||
|
Total net revenue
|
7,970
|
7,712
|
7,329
|
3.3
|
8.7
|
22,970
|
21,291
|
7.9
|
||||||||||||||||||
|
Noninterest expense
|
4,493
|
4,428
|
4,197
|
1.5
|
7.1
|
13,186
|
12,610
|
4.6
|
||||||||||||||||||
|
Income before provision and income taxes
|
3,477
|
3,284
|
3,132
|
5.9
|
11.0
|
9,784
|
8,681
|
12.7
|
||||||||||||||||||
|
Provision for credit losses
|
654
|
538
|
571
|
21.6
|
14.5
|
1,768
|
1,609
|
9.9
|
||||||||||||||||||
|
Income before taxes
|
2,823
|
2,746
|
2,561
|
2.8
|
10.2
|
8,016
|
7,072
|
13.3
|
||||||||||||||||||
|
Income taxes and taxable-equivalent adjustment
|
615
|
563
|
553
|
9.2
|
11.2
|
1,675
|
1,527
|
9.7
|
||||||||||||||||||
|
Net income
|
2,208
|
2,183
|
2,008
|
1.1
|
10.0
|
6,341
|
5,545
|
14.4
|
||||||||||||||||||
|
Net (income) loss attributable to noncontrolling interests
|
(6)
|
(6)
|
(7)
|
-
|
14.3
|
(17)
|
(20)
|
15.0
|
||||||||||||||||||
|
Net income attributable to U.S. Bancorp
|
$2,202
|
$2,177
|
$2,001
|
1.1
|
10.0
|
$6,324
|
$5,525
|
14.5
|
||||||||||||||||||
|
Net income applicable to U.S. Bancorp common shareholders
|
$2,095
|
$2,098
|
$1,893
|
(.1)
|
10.7
|
$6,034
|
$5,229
|
15.4
|
||||||||||||||||||
|
Diluted earnings per common share
|
$1.34
|
$1.35
|
$1.22
|
(.7)
|
9.8
|
$3.88
|
$3.35
|
15.8
|
||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
NET INTEREST INCOME
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
(Taxable-equivalent basis; $ in millions)
|
Change
|
|||||||||||||||||||||||||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Change
|
|||||||||||||||||||||||||||||||||||||||||||
|
Components of net interest income
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Income on earning assets
|
$
|
7,796
|
$
|
7,624
|
$
|
7,831
|
$
|
172
|
$
|
(35)
|
$
|
22,855
|
$
|
23,010
|
$
|
(155)
|
||||||||||||||||||||||||||||||||||
|
Expense on interest-bearing liabilities
|
3,306
|
3,237
|
3,580
|
69
|
(274)
|
9,687
|
10,557
|
(870)
|
||||||||||||||||||||||||||||||||||||||||||
|
Net interest income
|
$
|
4,490
|
$
|
4,387
|
$
|
4,251
|
$
|
103
|
$
|
239
|
$
|
13,168
|
$
|
12,453
|
$
|
715
|
||||||||||||||||||||||||||||||||||
|
Average yields and rates paid
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Earning assets yield
|
4.92
|
%
|
4.86
|
%
|
5.03
|
%
|
.06
|
%
|
(.11)
|
%
|
4.87
|
%
|
5.01
|
%
|
(.14)
|
%
|
||||||||||||||||||||||||||||||||||
|
Rate paid on interest-bearing liabilities
|
2.53
|
2.50
|
2.78
|
.03
|
(.25)
|
2.50
|
2.78
|
(.28)
|
||||||||||||||||||||||||||||||||||||||||||
|
Gross interest margin
|
2.39
|
%
|
2.36
|
%
|
2.25
|
%
|
.03
|
%
|
.14
|
%
|
2.37
|
%
|
2.23
|
%
|
.14
|
%
|
||||||||||||||||||||||||||||||||||
|
Net interest margin
|
2.84
|
%
|
2.79
|
%
|
2.75
|
%
|
.05
|
%
|
.09
|
%
|
2.80
|
%
|
2.71
|
%
|
.09
|
%
|
||||||||||||||||||||||||||||||||||
|
Average balances
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
Investment securities(a)
|
$
|
166,350
|
$
|
170,528
|
$
|
173,423
|
$
|
(4,178)
|
$
|
(7,073)
|
$
|
169,431
|
$
|
172,489
|
$
|
(3,058)
|
||||||||||||||||||||||||||||||||||
|
Loans held for sale
|
2,681
|
2,783
|
2,253
|
(102)
|
428
|
2,598
|
2,975
|
(377)
|
||||||||||||||||||||||||||||||||||||||||||
|
Loans
|
409,548
|
405,481
|
379,152
|
4,067
|
30,396
|
402,922
|
378,903
|
24,019
|
||||||||||||||||||||||||||||||||||||||||||
|
Interest-bearing deposits with banks
|
35,037
|
32,450
|
47,822
|
2,587
|
(12,785)
|
35,433
|
44,384
|
(8,951)
|
||||||||||||||||||||||||||||||||||||||||||
|
Other earning assets
|
17,168
|
17,759
|
14,867
|
(591)
|
2,301
|
17,623
|
14,972
|
2,651
|
||||||||||||||||||||||||||||||||||||||||||
|
Earning assets
|
630,784
|
629,001
|
617,517
|
1,783
|
13,267
|
628,007
|
613,723
|
14,284
|
||||||||||||||||||||||||||||||||||||||||||
|
Interest-bearing liabilities
|
518,927
|
519,910
|
510,919
|
(983)
|
8,008
|
518,151
|
507,978
|
10,173
|
||||||||||||||||||||||||||||||||||||||||||
|
(a) Excludes unrealized gain (loss)
|
||||||||||||||||||||||||||||||||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
AVERAGE LOANS
|
|||||||||||||||||||||||||||||
|
($ in millions)
|
Percent Change
|
||||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Percent Change
|
||||||||||||||||||||||
|
Commercial
|
$150,917
|
$151,114
|
$134,106
|
(.1)
|
12.5
|
$148,577
|
$131,679
|
12.8
|
|||||||||||||||||||||
|
Lease financing
|
4,443
|
4,459
|
4,250
|
(.4)
|
4.5
|
4,446
|
4,220
|
5.4
|
|||||||||||||||||||||
|
Total commercial
|
155,360
|
155,573
|
138,356
|
(.1)
|
12.3
|
153,023
|
135,899
|
12.6
|
|||||||||||||||||||||
|
Commercial mortgages
|
42,988
|
41,840
|
38,384
|
2.7
|
12.0
|
41,610
|
38,400
|
8.4
|
|||||||||||||||||||||
|
Construction and development
|
10,003
|
9,417
|
9,862
|
6.2
|
1.4
|
9,622
|
10,132
|
(5.0)
|
|||||||||||||||||||||
|
Total commercial real estate
|
52,991
|
51,257
|
48,246
|
3.4
|
9.8
|
51,232
|
48,532
|
5.6
|
|||||||||||||||||||||
|
Residential mortgages
|
116,886
|
117,196
|
114,780
|
(.3)
|
1.8
|
116,925
|
116,398
|
.5
|
|||||||||||||||||||||
|
Credit card
|
40,222
|
38,403
|
36,079
|
4.7
|
11.5
|
38,666
|
35,537
|
8.8
|
|||||||||||||||||||||
|
Retail leasing
|
4,311
|
3,746
|
3,718
|
15.1
|
15.9
|
3,864
|
3,858
|
.2
|
|||||||||||||||||||||
|
Home equity and second mortgages
|
14,210
|
14,055
|
13,790
|
1.1
|
3.0
|
14,080
|
13,671
|
3.0
|
|||||||||||||||||||||
|
Other
|
25,568
|
25,251
|
24,183
|
1.3
|
5.7
|
25,132
|
25,008
|
.5
|
|||||||||||||||||||||
|
Total other retail
|
44,089
|
43,052
|
41,691
|
2.4
|
5.8
|
43,076
|
42,537
|
1.3
|
|||||||||||||||||||||
|
Total loans
|
$409,548
|
$405,481
|
$379,152
|
1.0
|
8.0
|
$402,922
|
$378,903
|
6.3
|
|||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
AVERAGE DEPOSITS
|
|||||||||||||||||||||||||||||
|
($ in millions)
|
Percent Change
|
||||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Percent Change
|
||||||||||||||||||||||
|
Noninterest-bearing deposits
|
$80,966
|
$80,611
|
$79,890
|
.4
|
1.3
|
$80,736
|
$79,568
|
1.5
|
|||||||||||||||||||||
|
Interest-bearing savings deposits
|
|||||||||||||||||||||||||||||
|
Interest checking
|
134,607
|
132,358
|
131,281
|
1.7
|
2.5
|
132,536
|
129,531
|
2.3
|
|||||||||||||||||||||
|
Money market savings
|
186,100
|
181,978
|
181,063
|
2.3
|
2.8
|
185,678
|
184,478
|
.7
|
|||||||||||||||||||||
|
Savings accounts
|
78,976
|
73,709
|
62,599
|
7.1
|
26.2
|
73,703
|
57,059
|
29.2
|
|||||||||||||||||||||
|
Total savings deposits
|
399,683
|
388,045
|
374,943
|
3.0
|
6.6
|
391,917
|
371,068
|
5.6
|
|||||||||||||||||||||
|
Time deposits
|
45,953
|
46,424
|
56,949
|
(1.0)
|
(19.3)
|
46,323
|
56,451
|
(17.9)
|
|||||||||||||||||||||
|
Total interest-bearing deposits
|
445,636
|
434,469
|
431,892
|
2.6
|
3.2
|
438,240
|
427,519
|
2.5
|
|||||||||||||||||||||
|
Total deposits
|
$526,602
|
$515,080
|
$511,782
|
2.2
|
2.9
|
$518,976
|
$507,087
|
2.3
|
|||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
NONINTEREST INCOME
|
|||||||||||||||||||||||||||||
|
($ in millions)
|
Percent Change
|
||||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Percent Change
|
||||||||||||||||||||||
|
Card revenue
|
$440
|
$435
|
$415
|
1.1
|
6.0
|
$1,266
|
$1,202
|
5.3
|
|||||||||||||||||||||
|
Corporate payment and treasury management revenue
|
457
|
440
|
407
|
3.9
|
12.3
|
1,305
|
1,228
|
6.3
|
|||||||||||||||||||||
|
Merchant processing services
|
461
|
485
|
463
|
(4.9)
|
(.4)
|
1,382
|
1,352
|
2.2
|
|||||||||||||||||||||
|
Trust and investment management fees
|
802
|
785
|
730
|
2.2
|
9.9
|
2,332
|
2,113
|
10.4
|
|||||||||||||||||||||
|
Lending and deposit-related fees
|
308
|
308
|
290
|
-
|
6.2
|
910
|
833
|
9.2
|
|||||||||||||||||||||
|
Capital markets revenue
|
640
|
512
|
378
|
25.0
|
69.3
|
1,529
|
985
|
55.2
|
|||||||||||||||||||||
|
Mortgage banking revenue
|
155
|
169
|
180
|
(8.3)
|
(13.9)
|
485
|
515
|
(5.8)
|
|||||||||||||||||||||
|
Investment products fees
|
116
|
102
|
97
|
13.7
|
19.6
|
315
|
274
|
15.0
|
|||||||||||||||||||||
|
Other
|
166
|
138
|
125
|
20.3
|
32.8
|
427
|
400
|
6.8
|
|||||||||||||||||||||
|
Total fee revenue
|
3,545
|
3,374
|
3,085
|
5.1
|
14.9
|
9,951
|
8,902
|
11.8
|
|||||||||||||||||||||
|
Securities gains (losses), net
|
(65)
|
(49)
|
(7)
|
(32.7)
|
nm
|
(149)
|
(64)
|
nm
|
|||||||||||||||||||||
|
Total noninterest income
|
$3,480
|
$3,325
|
$3,078
|
4.7
|
13.1
|
$9,802
|
$8,838
|
10.9
|
|||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
NONINTEREST EXPENSE
|
|||||||||||||||||||||||||||||
|
($ in millions)
|
Percent Change
|
||||||||||||||||||||||||||||
|
3Q 2026
|
2Q 2026
|
3Q 2025
|
3Q26 vs 2Q26
|
3Q26 vs 3Q25
|
YTD
2026 |
YTD
2025 |
Percent Change
|
||||||||||||||||||||||
|
Compensation and employee benefits
|
$2,753
|
$2,685
|
$2,561
|
2.5
|
7.5
|
$8,066
|
$7,798
|
3.4
|
|||||||||||||||||||||
|
Net occupancy and equipment
|
309
|
303
|
300
|
2.0
|
3.0
|
916
|
907
|
1.0
|
|||||||||||||||||||||
|
Professional services
|
115
|
112
|
117
|
2.7
|
(1.7)
|
319
|
324
|
(1.5)
|
|||||||||||||||||||||
|
Marketing and business development
|
199
|
216
|
175
|
(7.9)
|
13.7
|
632
|
518
|
22.0
|
|||||||||||||||||||||
|
Technology and communications
|
666
|
601
|
560
|
10.8
|
18.9
|
1,840
|
1,627
|
13.1
|
|||||||||||||||||||||
|
Other intangibles
|
127
|
114
|
125
|
11.4
|
1.6
|
351
|
372
|
(5.6)
|
|||||||||||||||||||||
|
Other
|
324
|
397
|
359
|
(18.4)
|
(9.7)
|
1,062
|
1,064
|
(.2)
|
|||||||||||||||||||||
|
Total noninterest expense
|
$4,493
|
$4,428
|
$4,197
|
1.5
|
7.1
|
$13,186
|
$12,610
|
4.6
|
|||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
ALLOWANCE FOR CREDIT LOSSES
|
||||||||||||||||||||||||||||||||
|
($ in millions)
|
3Q 2026
|
%(a)
|
2Q 2026
|
%(a)
|
1Q 2026
|
%(a)
|
4Q 2025
|
%(a)
|
3Q 2025
|
%(a)
|
||||||||||||||||||||||
|
Balance, beginning of period
|
$7,979
|
$7,977
|
$7,947
|
$7,897
|
$7,862
|
|||||||||||||||||||||||||||
|
Allowance for acquired credit losses
|
55
|
-
|
-
|
-
|
-
|
|||||||||||||||||||||||||||
|
Net charge-offs
|
||||||||||||||||||||||||||||||||
|
Commercial
|
83
|
.22
|
91
|
.24
|
117
|
.33
|
101
|
.29
|
23
|
.07
|
||||||||||||||||||||||
|
Lease financing
|
5
|
.45
|
5
|
.45
|
4
|
.37
|
5
|
.46
|
7
|
.65
|
||||||||||||||||||||||
|
Total commercial
|
88
|
.22
|
96
|
.25
|
121
|
.33
|
106
|
.30
|
30
|
.09
|
||||||||||||||||||||||
|
Commercial mortgages
|
42
|
.39
|
13
|
.12
|
2
|
.02
|
(3)
|
(.03)
|
103
|
1.06
|
||||||||||||||||||||||
|
Construction and development
|
-
|
-
|
-
|
-
|
(10)
|
(.43)
|
-
|
-
|
-
|
-
|
||||||||||||||||||||||
|
Total commercial real estate
|
42
|
.31
|
13
|
.10
|
(8)
|
(.07)
|
(3)
|
(.02)
|
103
|
.85
|
||||||||||||||||||||||
|
Residential mortgages
|
-
|
-
|
-
|
-
|
(1)
|
-
|
(2)
|
(.01)
|
(1)
|
-
|
||||||||||||||||||||||
|
Credit card
|
334
|
3.29
|
367
|
3.83
|
365
|
3.96
|
358
|
3.84
|
346
|
3.80
|
||||||||||||||||||||||
|
Retail leasing
|
16
|
1.47
|
14
|
1.50
|
18
|
2.07
|
17
|
1.89
|
17
|
1.81
|
||||||||||||||||||||||
|
Home equity and second mortgages
|
-
|
-
|
-
|
-
|
1
|
.03
|
1
|
.03
|
(2)
|
(.06)
|
||||||||||||||||||||||
|
Other
|
43
|
.67
|
46
|
.73
|
50
|
.83
|
50
|
.81
|
43
|
.71
|
||||||||||||||||||||||
|
Total other retail
|
59
|
.53
|
60
|
.56
|
69
|
.67
|
68
|
.64
|
58
|
.55
|
||||||||||||||||||||||
|
Total net charge-offs
|
523
|
.51
|
536
|
.53
|
546
|
.56
|
527
|
.54
|
536
|
.56
|
||||||||||||||||||||||
|
Provision for credit losses(b)
|
654
|
538
|
576
|
577
|
571
|
|||||||||||||||||||||||||||
|
Balance, end of period
|
$8,165
|
$7,979
|
$7,977
|
$7,947
|
$7,897
|
|||||||||||||||||||||||||||
|
Components
|
||||||||||||||||||||||||||||||||
|
Allowance for loan losses
|
$7,815
|
$7,645
|
$7,646
|
$7,605
|
$7,557
|
|||||||||||||||||||||||||||
|
Liability for unfunded credit commitments
|
350
|
334
|
331
|
342
|
340
|
|||||||||||||||||||||||||||
|
Total allowance for credit losses
|
$8,165
|
$7,979
|
$7,977
|
$7,947
|
$7,897
|
|||||||||||||||||||||||||||
|
Gross charge-offs
|
$647
|
$676
|
$683
|
$651
|
$669
|
|||||||||||||||||||||||||||
|
Gross recoveries
|
$124
|
$140
|
$137
|
$124
|
$133
|
|||||||||||||||||||||||||||
|
Allowance for credit losses as a percentage of
|
||||||||||||||||||||||||||||||||
|
Period-end loans (%)
|
1.97
|
1.94
|
2.00
|
2.03
|
2.06
|
|||||||||||||||||||||||||||
|
Nonperforming loans (%)
|
636
|
612
|
536
|
514
|
490
|
|||||||||||||||||||||||||||
|
Nonperforming assets (%)
|
617
|
593
|
522
|
500
|
477
|
|||||||||||||||||||||||||||
|
(a) Annualized and calculated on average loan balances.
(b) The third quarter of 2026 includes $135 million of provision for acquired loans.
|
||||||||||||||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
DELINQUENT LOAN RATIOS AS A PERCENT OF ENDING LOAN BALANCES
|
|||||||||||||||||
|
(Percent)
|
Sep 30 2026
|
Jun 30 2026
|
Mar 31 2026
|
Dec 31 2025
|
Sep 30 2025
|
||||||||||||
|
Delinquent loan ratios - 90 days or more past due
|
|||||||||||||||||
|
Commercial
|
.01
|
.01
|
.02
|
.01
|
.01
|
||||||||||||
|
Commercial real estate
|
.01
|
.01
|
.03
|
.03
|
.04
|
||||||||||||
|
Residential mortgages
|
.19
|
.20
|
.23
|
.25
|
.26
|
||||||||||||
|
Credit card
|
1.10
|
1.13
|
1.29
|
1.27
|
1.26
|
||||||||||||
|
Other retail
|
.10
|
.09
|
.12
|
.12
|
.12
|
||||||||||||
|
Total loans
|
.18
|
.18
|
.21
|
.22
|
.22
|
||||||||||||
|
Delinquent loan ratios - 90 days or more past due and nonperforming loans
|
|||||||||||||||||
|
Commercial
|
.28
|
.26
|
.45
|
.50
|
.53
|
||||||||||||
|
Commercial real estate
|
.98
|
1.09
|
1.07
|
1.09
|
1.24
|
||||||||||||
|
Residential mortgages
|
.34
|
.35
|
.36
|
.38
|
.38
|
||||||||||||
|
Credit card
|
1.10
|
1.13
|
1.29
|
1.27
|
1.26
|
||||||||||||
|
Other retail
|
.46
|
.46
|
.50
|
.51
|
.49
|
||||||||||||
|
Total loans
|
.49
|
.50
|
.58
|
.61
|
.64
|
||||||||||||
|
ASSET QUALITY(a)
|
|||||||||||||||||
|
($ in millions)
|
|||||||||||||||||
|
Sep 30 2026
|
Jun 30 2026
|
Mar 31 2026
|
Dec 31 2025
|
Sep 30 2025
|
|||||||||||||
|
Nonperforming loans
|
|||||||||||||||||
|
Commercial
|
$407
|
$377
|
$622
|
$695
|
$708
|
||||||||||||
|
Lease financing
|
25
|
25
|
26
|
22
|
25
|
||||||||||||
|
Total commercial
|
432
|
402
|
648
|
717
|
733
|
||||||||||||
|
Commercial mortgages
|
490
|
538
|
488
|
504
|
558
|
||||||||||||
|
Construction and development
|
28
|
30
|
34
|
14
|
21
|
||||||||||||
|
Total commercial real estate
|
518
|
568
|
522
|
518
|
579
|
||||||||||||
|
Residential mortgages
|
176
|
171
|
159
|
151
|
143
|
||||||||||||
|
Credit card
|
-
|
-
|
-
|
-
|
-
|
||||||||||||
|
Other retail
|
158
|
162
|
159
|
161
|
155
|
||||||||||||
|
Total nonperforming loans
|
1,284
|
1,303
|
1,488
|
1,547
|
1,610
|
||||||||||||
|
Other real estate
|
21
|
24
|
22
|
24
|
23
|
||||||||||||
|
Other nonperforming assets
|
19
|
19
|
18
|
19
|
21
|
||||||||||||
|
Total nonperforming assets
|
$1,324
|
$1,346
|
$1,528
|
$1,590
|
$1,654
|
||||||||||||
|
Accruing loans 90 days or more past due
|
$743
|
$735
|
$847
|
$853
|
$840
|
||||||||||||
|
Nonperforming assets to loans plus ORE (%)
|
.32
|
.33
|
.38
|
.41
|
.43
|
||||||||||||
|
(a) Throughout this document, nonperforming assets and related ratios do not include accruing loans 90 days or more past due
|
|||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
COMMON SHARES
|
|||||||||||||||||
|
(Millions)
|
3Q 2026
|
2Q 2026
|
1Q 2026
|
4Q 2025
|
3Q 2025
|
||||||||||||
|
Beginning shares outstanding
|
1,558
|
1,555
|
1,555
|
1,556
|
1,558
|
||||||||||||
|
Shares issued for stock incentive plans,
|
|||||||||||||||||
|
acquisitions and other corporate purposes
|
-
|
6
|
5
|
2
|
-
|
||||||||||||
|
Shares repurchased
|
-
|
(3)
|
(5)
|
(3)
|
(2)
|
||||||||||||
|
Ending shares outstanding
|
1,558
|
1,558
|
1,555
|
1,555
|
1,556
|
||||||||||||
|
CAPITAL POSITION
|
Preliminary Data
|
|||||||||||||||||||||||||||||||
|
($ in millions)
|
Sep 30 2026
|
Jun 30 2026
|
Mar 31 2026
|
Dec 31 2025
|
Sep 30 2025
|
|||||||||||||||||||||||||||
|
Total U.S. Bancorp shareholders' equity
|
$66,425
|
$67,432
|
$65,786
|
$65,193
|
$63,340
|
|||||||||||||||||||||||||||
|
Basel III Standardized Approach
|
||||||||||||||||||||||||||||||||
|
Common equity tier 1 capital
|
$55,023
|
$53,575
|
$52,648
|
$51,665
|
$50,587
|
|||||||||||||||||||||||||||
|
Tier 1 capital
|
62,267
|
60,802
|
59,899
|
58,917
|
57,839
|
|||||||||||||||||||||||||||
|
Total risk-based capital
|
72,844
|
71,429
|
69,163
|
68,087
|
66,820
|
|||||||||||||||||||||||||||
|
Common equity tier 1 capital ratio
|
10.8
|
%
|
10.8
|
%
|
10.8
|
%
|
10.8
|
%
|
10.9
|
%
|
||||||||||||||||||||||
|
Tier 1 capital ratio
|
12.3
|
12.2
|
12.3
|
12.3
|
12.4
|
|||||||||||||||||||||||||||
|
Total risk-based capital ratio
|
14.3
|
14.4
|
14.2
|
14.2
|
14.4
|
|||||||||||||||||||||||||||
|
Leverage ratio
|
9.0
|
8.9
|
8.8
|
8.7
|
8.6
|
|||||||||||||||||||||||||||
|
Common equity to assets
|
8.5
|
8.4
|
8.4
|
8.4
|
8.1
|
|||||||||||||||||||||||||||
|
Tangible common equity to tangible assets(a)
|
6.6
|
6.6
|
6.7
|
6.7
|
6.4
|
|||||||||||||||||||||||||||
|
Tangible common equity to risk-weighted assets(a)
|
9.0
|
9.4
|
9.4
|
9.4
|
9.3
|
|||||||||||||||||||||||||||
|
(a)See Non-GAAP Financial Measures reconciliation on page 16.
|
||||||||||||||||||||||||||||||||
|
U.S. Bancorp Third Quarter 2026 Results
|
|||||
|
Investor Conference Call
|
||
|
About U.S. Bancorp
|
||