US Bancorp (NYSE: USB) reported fourth quarter 2023 earnings results today.
Total net revenue increased 6.2% year-over-year to $6.76 billion. Adjusted revenue increased 1.7% to $6.8 billion.
Net income applicable to US Bancorp common shareholders decreased 10.2% to $766 million while EPS fell 14% to $0.49 compared to last year. Adjusted EPS decreased 17.5% to $0.99.
Average total loan growth was 3.6% and average total deposit growth was 4.3% YoY.