---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-258045"
form_type: "8-K"
ticker: "USB"
cik: "0000036104"
company_name: "US BANCORP DE"
filed_at: "2023-10-18T23:59:59+00:00"
generated_at: "2026-06-09T22:06:01.748006+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# U.S. Bancorp Q3 2023 net income $1.523B, EPS $0.91, down from $1.16 YoY

## Summary
- Net income $1.523B ($0.91 diluted EPS) vs $1.812B ($1.16) in Q3 2022, a 16% decline.
- Net interest income (tax-eq) $4.268B, up 10.7% YoY; noninterest income $2.764B, up 11.9%.
- Net interest margin 2.81% vs 2.83% YoY; efficiency ratio deteriorated to 64.4% from 57.5%.
- Average loans $376.9B, deposits $512.3B; net charge-off ratio rose to 0.44% from 0.19%.
- CET1 ratio held at 9.7%; dividend maintained at $0.48 per common share.

## SEC filing metadata
- accession: 0001193125-23-258045
- form_type: 8-K
- ticker: USB
- cik: 0000036104
- company_name: US BANCORP DE
- filed_at: 2023-10-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/36104/000119312523258045/0001193125-23-258045-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/36104/000119312523258045/d575514d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-258045
- JSON: https://secwatch.observer/filing/0001193125-23-258045.json
- Plain text: https://secwatch.observer/filing/0001193125-23-258045.txt

## Key facts
- Earnings Releases
  US BANCORP DE reported financial results for quarter ended September 30, 2023.
  - Period: quarter ended September 30, 2023
  - Result: reported results
  source text: On October 18, 2023, U.S. Bancorp (the “Company”) issued a press release reporting quarter-ended September 30, 2023 results
  evidence_url: https://www.sec.gov/Archives/edgar/data/36104/000119312523258045/0001193125-23-258045-index.htm

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