secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2024-07-17T23:59:59+00:00
Accession:  0000036104-24-000048
Event type: earnings
Sentiment:  positive
Materiality: 0.80
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

U.S. Bancorp Q2 net income $1.6B, adjusted EPS $0.98; CET1 ratio 10.3%
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- Net income of $1,603M ($0.97 diluted EPS); adjusted net income $1,622M ($0.98 EPS) excluding $26M FDIC charge.
- Net interest income (taxable-equivalent) $4,052M, up 0.9% linked quarter; net interest margin 2.67%.
- Average total loans +1.0% and average total deposits +2.2% linked quarter; noninterest income +2.4% YoY.
- Adjusted efficiency ratio 60.7%; return on tangible common equity 18.6%; return on assets 0.98%.
- CET1 capital ratio improved to 10.3% from 10.0% in Q1; net charge-off ratio 0.58%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000048/0000036104-24-000048-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000003610424000048/usb-20240717.htm
  HTML page:      https://secwatch.observer/filing/0000036104-24-000048

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