secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000036104-24-000033
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000033/0000036104-24-000033-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000033/usb-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000036104-24-000033

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