secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2024-01-17T23:59:59+00:00
Accession:  0000036104-24-000007
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000007/0000036104-24-000007-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000007/usb-20240117.htm
  HTML page:      https://secwatch.observer/filing/0000036104-24-000007

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer