secwatch.observer — SEC 8-K summary
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Issuer:     US BANCORP DE (USB)
CIK:        0000036104
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0001193125-23-258045
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/36104/000119312523258045/0001193125-23-258045-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/36104/000119312523258045/d575514d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-23-258045

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