Quarterly ResultMay 4, 2026, 04:23 PM
U.S. Bancorp Q1 Net Income $1.9B, EPS $1.18; BTIG Acquisition Pending
AI Summary
U.S. Bancorp reported net income attributable to U.S. Bancorp of $1.9 billion for the first quarter of 2026, a 13.8% increase from the prior year, with diluted earnings per share rising 14.6% to $1.18. The company saw a 4.2% increase in net interest income and a 5.7% increase in noninterest income, driven by loan growth and improved earning asset mix. Average loans grew 3.8% and average deposits increased 1.7%, while credit quality remained stable. Additionally, the pending acquisition of BTIG for up to $1 billion is expected to close in the second quarter of 2026.
Key Highlights
- Pending acquisition of BTIG for up to $1 billion, expected to close in Q2 2026.
- Net income attributable to U.S. Bancorp increased 13.8% to $1.945 billion.
- Diluted earnings per share rose 14.6% to $1.18.
- Net interest income grew 4.2% to $4.263 billion.
- Noninterest income increased 5.7% to $2.997 billion.
- Average loans increased 3.8% to $393.56 billion.
- Average deposits increased 1.7% to $515.12 billion.
- Returned $1.1 billion to shareholders via dividends and share repurchases.