U.S. Bancorp's first-quarter 2022 results revealed earnings of 99 cents per share, surpassing analyst expectations of 94 cents, although this figure is down from $1.45 last year. The bank reported a net income of $1.56 billion alongside total revenues of $5.57 billion, reflecting a 1.2% year-over-year increase, driven by a rise in net interest income to $3.2 billion. Following the announcement, U.S. Bancorp's stock rose over 4%, although concerns persist as non-interest expenses climbed by 3.6% and net charge-offs reached $162 million.
“U.S. Bancorp · reported · first-quarter 2022 earnings per share · 99 cents”
“U.S. Bancorp · reported · net income · $1.56 billion”
“U.S. Bancorp · reported · total revenues · $5.57 billion”
“U.S. Bancorp · reported · tax-equivalent net interest income · $3.2 billion”
“U.S. Bancorp · reported · non-interest income · $2.4 billion”
“U.S. Bancorp · reported · non-interest expenses · $3.5 billion”
“U.S. Bancorp · reported · average total loans · $313 billion”
“U.S. Bancorp · reported · average total deposits · $454.2 billion”
“U.S. Bancorp · reported · provision for credit losses · $112 million”
“U.S. Bancorp · reported · net charge-offs · $162 million”
“U.S. Bancorp · reported · non-performing assets · $811 million”
“U.S. Bancorp · reported · Tier 1 capital ratio · 11.5%”