Every material Form 8-K U.S. Bancorp filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
U.S. Bancorp reported third-quarter 2025 net income attributable to the company of $2,001 million, up 16.7% from a year earlier, and diluted earnings per share of $1.22, up 18.4%. Total net revenue reached a record $7,329 million, up 6.8% year over year, with noninterest expense roughly flat, which the company attributes to operating leverage and cost savings.
Net income attributable to U.S. Bancorp was $2,001 million, up from $1,714 million in Q3 2024 and $1,815 million in Q2 2025.
Diluted earnings per common share were $1.22, compared with $1.03 a year earlier and $1.11 in the second quarter of 2025.
Total net revenue was $7,329 million, up 6.8% year over year; noninterest expense was $4,197 million, down 0.2%.
Moody's Ratings revised the outlook to stable from negative and affirmed senior unsecured debt at A3.
On August 13, 2025, U.S. Bank National Association, the principal banking subsidiary of U.S. Bancorp, entered into a time sharing agreement and a charter flight reimbursement agreement with CEO Gunjan Kedia covering use of the company's corporate aircraft and reimbursement of certain charter travel costs. The filing says the company may enter similar agreements with other executive officers, but it does not state any dollar amounts.
Agreements dated August 13, 2025, with President and CEO Gunjan Kedia
Covers use of the Company's corporate aircraft and reimbursement of certain charter flight costs
Forms of both agreements filed as Exhibits 10.1 and 10.2
Company may enter similar agreements with other executive officers
U.S. Bancorp reported second-quarter 2025 net income attributable to the company of $1,815 million, up 13.2% from a year earlier, and diluted earnings per share of $1.11, compared with $0.97 in the second quarter of 2024. Total net revenue rose 2.0% year over year to $7,004 million, and the filing gives no separate earnings guidance, so the results are the main new information for shareholders.
Net income attributable to U.S. Bancorp was $1,815 million, up from $1,603 million a year earlier and $1,709 million in the first quarter of 2025.
Diluted earnings per common share were $1.11, compared with $0.97 in the second quarter of 2024 and $1.03 in the first quarter of 2025.
Total net revenue was $7,004 million, up 2.0% year over year, while noninterest expense fell 1.2% from the first quarter to $4,181 million.
Net interest margin was 2.66%, down from 2.67% a year earlier and 2.72% in the first quarter; the CET1 capital ratio was 10.7% at June 30, 2025.
U.S. Bancorp's board set the pay terms for newly appointed CEO Gunjan Kedia, who took over effective April 15, 2025, and for former CEO Andrew Cecere, who is now Executive Chairman. The filing also amends a retirement plan for Cecere, freezing his supplemental benefit, which matters to shareholders because it reflects the cost and structure of top executive compensation during the leadership transition.
Kedia's base salary rises to an annualized $1,200,000, effective April 16, 2025, with a target annual cash incentive of 275% of salary.
Kedia receives an additional PRSU award valued at $1,500,000 as of the April 17, 2025 grant date, on top of her February 27, 2025 long-term award.
Cecere's annualized base salary as Executive Chairman is $1,400,000, effective April 16, 2025.
The Non-Qualified Retirement Plan amendment freezes Cecere's supplemental benefit as of April 15, 2025.
U.S. Bancorp reported first-quarter 2025 net income attributable to the company of $1,709 million, or $1.03 per diluted share, up from $1,319 million, or $0.78 per share, a year earlier. Total net revenue rose 3.6% from a year earlier to $6,958 million, but fell 0.7% from the fourth quarter of 2024. The filing also reports a leadership change, with Gunjan Kedia now serving as President and CEO and Andy Cecere's tenure ending.
Net income attributable to U.S. Bancorp was $1,709 million, up 29.6% from $1,319 million in Q1 2024 and up from $1,663 million in Q4 2024.
Diluted EPS was $1.03, compared with $0.78 in Q1 2024 and $1.01 in Q4 2024; Q1 2024 included $0.12 per share of notable items.
Total net revenue was $6,958 million, up 3.6% year over year but down 0.7% from $7,009 million in Q4 2024.
Gunjan Kedia, President and CEO, said she is stepping into the role of Chief Executive Officer; the release thanks Andy Cecere for more than 40 years of leadership.
U.S. Bancorp director Kimberly J. Harris resigned from the Board of Directors effective immediately, and will not stand for re-election at the 2025 annual shareholder meeting. The company said the resignation is for personal reasons related to her health and recovery, and not due to any disagreement with the company on its operations, policies or practices.
Kimberly J. Harris notified the Board of her resignation on March 24, 2025, effective immediately.
She will not stand for re-election at the company's 2025 annual meeting of shareholders.
The company said the resignation was not due to any disagreement with the company on its operations, policies or practices.
U.S. Bancorp said Shailesh M. Kotwal will cease to serve as Vice Chair, Payment Services, effective February 3, 2025, as part of his previously announced retirement. He will stay on in an advisory role supporting the Payments business transition through June 30, 2025. Director Scott W. Wine also said he will not stand for re-election at the 2025 Annual Meeting of Shareholders, citing personal reasons.
Shailesh M. Kotwal leaves the Vice Chair, Payment Services role effective February 3, 2025
Kotwal remains employed in an advisory role through June 30, 2025
Scott W. Wine notified the Board on January 28, 2025 he will not seek re-election after ten years of service
Wine's decision was for personal reasons, not a disagreement with the company
U.S. Bancorp's board elected President Gunjan Kedia as chief executive officer effective April 15, 2025, and as a director, effective immediately. Andrew Cecere, the current chairman and CEO, will remain on the board as executive chairman. The filing sets no base salary or target bonus yet for Kedia, but it discloses a $10 million long-term incentive award, which is a planned leadership change that does not itself affect reported results.
Gunjan Kedia, 54, becomes President and CEO of U.S. Bancorp and U.S. Bank effective April 15, 2025
Andrew Cecere, CEO since April 2017 and chairman since April 2018, becomes executive chairman on April 15, 2025
Kedia's long-term incentive award is valued at $10 million as of the February 27, 2025 grant date, with 60% in performance-based restricted stock units
Base salary, target annual cash incentive for Kedia, and Cecere's executive chairman compensation have not been determined
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.
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.
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every U.S. Bancorp filing is on SEC EDGAR ↗. 8-K briefs of other companies →