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.