USB completes MUFG Union Bank acquisition; Q4 GAAP EPS $0.57, adjusted EPS $1.20

US BANCORP DE

2022-FY EPS reported $3.69 revenue$24,302,000,000

Acquisition of MUFG Union Bank completed; Q4 net income excluding notable items was $1.9 billion.
GAAP net income $925 million ($0.57 diluted EPS) including acquisition-related notable items.
Adjusted return on average assets 1.20% and return on average common equity 16.8% for Q4.
CET1 ratio 8.4%; average loans $359.8 billion, deposits $481.8 billion; net charge-off ratio 0.64%.
Full year 2022 GAAP EPS $3.69 vs $5.10 in 2021; dividends declared $1.88 per common share.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

US BANCORP DE reported quarter-ended December 31, 2022 results: net income $1.9 billion, EPS $1.20.

Period: quarter-ended December 31, 2022
Net income: $1.9 billion
EPS: $1.20
Result: reported results

Exact text from the filing

U.S. Bancorp Completes Acquisition of MUFG Union Bank Reports Fourth Quarter and Full Year 2022 Results • Net income of $1.9 billion and diluted earnings per common share of $1.20, excluding notable items related to the acquisition of MUFG Union Bank for 4Q22

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Source: SEC EDGAR

accession 0001193125-23-014710

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