U.S. Bancorp (BMV:USB)

U.S. Bancorp Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Jun 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Interest Income on Loans	22,799	23,182	22,471	13,804	10,979	12,234
Interest Income on Investments	8,238	8,484	7,536	4,141	2,508	2,606
Total Interest Income	31,037	31,666	30,007	17,945	13,487	14,840
Interest Paid on Deposits	10,828	11,688	8,775	1,872	320	950
Interest Paid on Borrowings	3,785	3,689	3,836	1,345	673	1,065
Total Interest Expense	14,613	15,377	12,611	3,217	993	2,015
Net Interest Income	16,424	16,289	17,396	14,728	12,494	12,825
Net Interest Income Growth (YoY)	0.42%	-6.36%	18.12%	17.88%	-2.58%	-1.74%
Trust Income	2,753	2,660	2,459	2,209	1,832	1,736
Mortgage Banking Activities	606	627	540	527	1,361	2,064
Gain (Loss) on Sale of Investments	-177	-154	-145	20	103	-1
Other Non-Interest Income	5,143	4,981	4,827	3,890	4,086	3,841
Total Non-Interest Income	11,291	11,046	10,617	9,456	10,227	10,223
Non-Interest Income Growth (YoY)	3.60%	4.04%	12.28%	-7.54%	0.04%	6.58%
Revenues Before Loan Losses	27,715	27,335	28,013	24,184	22,721	23,048
Provision for Loan Losses	2,155	2,238	2,275	1,977	-1,173	3,806
Revenue	25,560	25,097	25,738	22,207	23,894	19,242
Revenue Growth (YoY)	1.81%	-2.49%	15.90%	-7.06%	24.18%	-8.98%
Salaries and Employee Benefits	10,249	10,322	10,192	8,955	8,521	7,749
Occupancy Expenses	712	717	770	706	684	718
Amortization of Goodwill & Intangibles	528	569	636	215	159	176
Selling, General & Administrative	4,026	3,945	4,055	3,303	3,157	2,893
Other Non-Interest Expense	1,413	1,480	2,211	1,398	1,207	1,655
Total Non-Interest Expense	16,928	17,033	17,864	14,577	13,728	13,191
EBT Excluding Unusual Items	8,632	8,064	7,874	7,630	10,166	6,051
Pretax Income	8,632	7,909	6,865	7,301	10,166	6,051
Income Tax Expense	1,703	1,580	1,407	1,463	2,181	1,066
Earnings From Continuing Operations	6,929	6,329	5,458	5,838	7,985	4,985
Minority Interest in Earnings	-28	-30	-29	-13	-22	-26
Net Income	6,901	6,299	5,429	5,825	7,963	4,959
Preferred Dividends & Other Adjustments	383	390	378	324	358	338
Net Income to Common	6,518	5,909	5,051	5,501	7,605	4,621
Net Income Growth	30.40%	16.02%	-6.80%	-26.85%	60.58%	-28.28%
Basic Shares Outstanding	1,560	1,560	1,543	1,489	1,489	1,509
Diluted Shares Outstanding	1,561	1,561	1,543	1,490	1,490	1,510
Shares Change (YoY)	0.26%	1.17%	3.56%	-	-1.32%	-4.61%
EPS (Basic)	4.18	3.79	3.27	3.69	5.11	3.06
EPS (Diluted)	4.18	3.79	3.27	3.69	5.10	3.06
EPS Growth	32.67%	15.83%	-11.38%	-27.65%	66.67%	-26.44%
Dividend Per Share	2.000	1.980	1.930	1.880	1.760	1.680
Dividend Growth	2.56%	2.59%	2.66%	6.82%	4.76%	6.33%
Effective Tax Rate	19.73%	19.98%	20.50%	20.04%	21.45%	17.62%

Source: S&P Global Market Intelligence. Banks template. Financial Sources.