---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-105633"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:58:21.414541+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# USB Q1 net income $1.70B, EPS $1.04, NIM rises to 3.10%

## Summary
- Diluted EPS $1.04 vs $0.99 YoY; net income $1,698M up 9% from $1,557M.
- Net interest income (tax-equivalent) $4,668M vs $3,200M YoY, NIM 3.10% vs 2.44%.
- Average loans $386.8B up 24% YoY; average deposits $510.3B up 12%.
- Return on average common equity 14.1% vs 12.7% YoY; efficiency ratio 63.2% vs 62.8%.
- CET1 ratio 8.5% vs 9.8% YoY; net charge-off ratio 0.39% vs 0.21%.

## SEC filing metadata
- accession: 0001193125-23-105633
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/36104/000119312523105633/0001193125-23-105633-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312523105633/d496669d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-105633
- JSON: https://secwatch.observer/filing/0001193125-23-105633.json
- Plain text: https://secwatch.observer/filing/0001193125-23-105633.txt

## Key facts
- Earnings Releases
  US BANCORP DE reported financial results for quarter-ended March 31, 2023.
  - Period: quarter-ended March 31, 2023
  - Result: reported results
  source text: On April 19, 2023, U.S. Bancorp (the “Company”) issued a press release reporting quarter-ended March 31, 2023 results, and posted on its website its 1Q23 Earnings Conference Call Presentation, which contains certain additional historical and forward-looking information relating to the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312523105633/0001193125-23-105633-index.htm

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