U.S. Bancorp Q4 net income rises to $1,663 million from $847 million a year earlier
U.S. Bancorp reported fourth-quarter 2024 net income attributable to the company of $1,663 million, or $1.01 per diluted share, up from $847 million and $0.49 a year earlier but down from $1,714 million and $1.03 in the third quarter. Excluding $109 million of pre-tax notable items tied to lease impairments and operational efficiency actions, earnings were $1,745 million, or $1.07 per share, and total net revenue rose 3.7% year over year to $7,009 million.
Key points
- Q4 2024 net income attributable to U.S. Bancorp was $1,663 million, or $1.01 per diluted share, versus $847 million, or $0.49, in Q4 2023; adjusted for notable items, it was $1,745 million, or $1.07 per share.
- Total net revenue was $7,009 million, up 3.7% from $6,762 million in Q4 2023; net interest margin was 2.71%, down from 2.78% a year earlier.
- Full-year 2024 net income was $6,299 million, or $3.79 per diluted share, up from $3.27 in 2023; adjusted full-year EPS was $3.98, versus $4.31 in 2023.
- CET1 capital ratio was 10.6% at December 31, 2024, and the company made a modest initial share buyback in the quarter.
The filing
Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 1:21 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on January 16, 2025.
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