---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-014710"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2023-01-25T23:59:59+00:00"
generated_at: "2026-06-20T09:53:07.011738+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001193125-23-014710
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2023-01-25T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000119312523014710/0001193125-23-014710-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312523014710/d408122d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-014710
- JSON: https://secwatch.observer/filing/0001193125-23-014710.json
- Plain text: https://secwatch.observer/filing/0001193125-23-014710.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312523014710/0001193125-23-014710-index.htm

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