U.S. Bancorp (NYSE: USB) reported first quarter 2023 earnings results today.
Total net revenue increased 28% year-over-year to $7.17 billion.
Net income applicable to U.S. Bancorp common shareholders increased 9% to $1.6 billion while EPS rose 5% to $1.04. Adjusted EPS grew 17% to $1.16.
Average total loans grew nearly 24% to $386.7 billion while average total deposits rose 12% to $510.3 billion year-over-year.