---
schema_version: "secwatch.filing_event.v1"
accession: "0000036104-24-000007"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2024-01-17T23:59:59+00:00"
generated_at: "2026-06-06T22:49:03.464162+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# U.S. Bancorp reports Q4 2023 adjusted EPS of $0.99; net income impacted by $734M FDIC special assessment

## Summary
- GAAP net income of $847M ($0.49 EPS) vs $1,523M ($0.91) in Q3; adjusted net income of $1,627M ($0.99 EPS).
- Net revenue of $6,762M (reported) and $6,880M adjusted; full-year record revenue of $28.1B.
- CET1 capital ratio improved to 9.9% from 9.7% in Q3; average loans up 3.6% YoY, deposits up 4.3%.
- Net interest margin fell to 2.78% from 2.81% linked quarter; net charge-off ratio was 0.49%.
- Quarterly dividend increased to $0.49 per share from $0.48 in prior quarter.

## SEC filing metadata
- accession: 0000036104-24-000007
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2024-01-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000003610424000007/0000036104-24-000007-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000003610424000007/usb-20240117.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000036104-24-000007
- JSON: https://secwatch.observer/filing/0000036104-24-000007.json
- Plain text: https://secwatch.observer/filing/0000036104-24-000007.txt

## Key facts
- Earnings Releases
  US BANCORP DE reported financial results for quarter ended December 31, 2023.
  - Period: quarter ended December 31, 2023
  - Result: reported results
  source text: On January 17, 2024, U.S. Bancorp (the “Company”) issued a press release reporting quarter-ended December 31, 2023 results
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000003610424000007/0000036104-24-000007-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.