---
schema_version: "secwatch.filing_event.v1"
accession: "0000036104-24-000033"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:55:40.614391+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# U.S. Bancorp Q1 net income $1.32B, down 22% YoY; adj. EPS $0.90

## Summary
- GAAP diluted EPS $0.78 vs $1.04 YoY; adjusted diluted EPS $0.90 excluding $265M in notable items.
- Net revenue $6.72B, net interest income $4.02B (NIM 2.70% vs 3.10% YoY).
- CET1 ratio improved to 10.0% from 9.9% Q4 2023 and 8.5% YoY.
- Notable pretax items: $155M MUB merger charges and $110M FDIC special assessment.
- Average total loans down 0.5% linked quarter; average deposits up 0.1%.

## SEC filing metadata
- accession: 0000036104-24-000033
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000003610424000033/0000036104-24-000033-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000003610424000033/usb-20240417.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000036104-24-000033
- JSON: https://secwatch.observer/filing/0000036104-24-000033.json
- Plain text: https://secwatch.observer/filing/0000036104-24-000033.txt

## Key facts
- Earnings Releases
  US BANCORP DE reported financial results for the quarter ended March 31, 2024.
  - Period: the quarter ended March 31, 2024
  - Result: reported results
  source text: On April 17, 2024, U.S. Bancorp (the “Company”) issued a press release reporting financial results for the quarter ended March 31, 2024. The press release is attached as Exhibit 99.1 hereto and is incorporated herein by reference.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000003610424000033/0000036104-24-000033-index.htm

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