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Dec 31, 2021
US Bancorp Q4 2021 Earnings Report
Reported fourth quarter and full year results, demonstrating diversified business model and strong credit quality.
Key Takeaways
U.S. Bancorp reported a net income of $1,673 million and diluted earnings per common share of $1.07 for Q4 2021. The results reflect the value of the diversified business model and strong credit quality, with a net charge-off ratio at a historical low. Deposit growth was strong, supporting loan growth and investment strategies.
Net income was $1,673 million and diluted earnings per common share was $1.07 for 4Q21.
Return on average assets was 1.16% and return on average common equity was 13.0% for 4Q21.
Net revenue decline driven by lower mortgage banking revenue, partially offset by higher trust and investment management fees.
Net charge-off ratio was 0.17% in 4Q21, compared with 0.20% in 3Q21 and 0.58% in 4Q20.
Revenue by Segment
Forward Guidance
U.S. Bancorp is focused on digital transformation, payments ecosystem initiatives, customer spend activity and loan growth.
Positive Outlook
- Investments in digital transformation will enable customer and revenue growth.
- Payments ecosystem initiatives will enable customer and revenue growth.
- Expect continued momentum in customer spend activity.
- Expect continued momentum in loan growth.
- Acquisition of TravelBank provides tech-led expense and travel management solutions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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