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U.S. Bancorp | 8-K: Current report

SEC announcement ·  Jan 17 00:00
Summary by Moomoo AI
On January 17, 2024, U.S. Bancorp reported its financial results for the quarter ended December 31, 2023. The company posted net revenue of $6.8 billion and net income of $1.6 billion, with diluted earnings per common share of $0.99 after adjustments for notable items. The quarter saw a net interest margin of 2.78% and a CET1 capital ratio of 9.9%. Notable items included balance sheet optimization charges, merger and integration-related charges, FDIC special assessment, and a charitable contribution. Full-year results highlighted net revenue of $28.3 billion and net income of $5.4 billion, or $3.27 per common share. U.S. Bancorp's CEO Andy Cecere emphasized the benefits of a diversified business model and operational resiliency. The company also expanded its renewable energy initiative and was recognized for its support of veterans.
On January 17, 2024, U.S. Bancorp reported its financial results for the quarter ended December 31, 2023. The company posted net revenue of $6.8 billion and net income of $1.6 billion, with diluted earnings per common share of $0.99 after adjustments for notable items. The quarter saw a net interest margin of 2.78% and a CET1 capital ratio of 9.9%. Notable items included balance sheet optimization charges, merger and integration-related charges, FDIC special assessment, and a charitable contribution. Full-year results highlighted net revenue of $28.3 billion and net income of $5.4 billion, or $3.27 per common share. U.S. Bancorp's CEO Andy Cecere emphasized the benefits of a diversified business model and operational resiliency. The company also expanded its renewable energy initiative and was recognized for its support of veterans.
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