US BANCORP \DE\ (USB) Form 10-Q — Aug 6, 2026

$USBForm 10-QFiled Aug 6, 2026, 4:17 PM ET0000036104-26-000044Original filing

U.S. Bancorp reported Q2 2026 net income attributable of $2.2 billion, or $1.35 per diluted share, up 21.6% from $1.11 a year earlier, on total net revenue of $7.7 billion that grew 10.1% year over year. Growth came from both sides of the balance sheet: net interest income rose 7.7% to $4.4 billion on 7.1% loan growth and net interest margin expansion to 2.79%, while noninterest income jumped 13.7% helped by the BTIG acquisition (closed June 1, 2026 for about $395 million in cash plus 6.6 million shares, with up to $275 million more contingent), which drove a 62.5% increase in capital markets revenue.

Key figures

Eps: $1.35 diluted EPS in Q2 2026 (+21.6% YoY); $2.53 for H1 2026 (+18.2%)
Revenue: $7,712 million total net revenue in Q2 2026 (+10.1% YoY); $15,000 million for the first six months (+7.4%)
Net Income: $2,177 million attributable to U.S. Bancorp in Q2 2026 (+19.9% YoY); $4,122 million for H1 2026 (+17.0%)
Total Debt: $58,671 million long-term debt plus $37,337 million short-term borrowings at June 30, 2026
Revenue Yoy: 10.1% (Q2 2026 vs Q2 2025)
Total Assets: $725,918 million at June 30, 2026 (+4.8% vs December 31, 2025)
Cash Position: $66,491 million cash and due from banks, including $58,467 million held at the Federal Reserve and other central banks
Shares Outstanding: 1,558,051,446 common shares as of July 31, 2026
Cet1 ratio: 10.8% (flat vs December 31, 2025)
Lcr average: 107.6% average daily for Q2 2026
Total deposits: $532,066 million (+1.9% YTD)
Btig deal terms: ~$395 million cash plus 6.6 million common shares at close, plus up to $275 million contingent cash over three years
Average loans q2: $405,481 million (+7.1% YoY)
Capital returned: $1.0 billion in Q2 2026 and $2.1 billion in H1 2026 via dividends and repurchases
Efficiency ratio: 57.1% vs 59.2% a year ago
Period end loans: $410,300 million (+4.8% YTD)
Buyback remaining: $3,912 million left under $5.0 billion authorization; 3,560,020 shares repurchased in Q2 at average $56.39
Net interest margin: 2.79% (Q2 2026) vs 2.66% (Q2 2025), taxable-equivalent
Book value per share: $38.91 (+11.0% YoY)
Net charge off ratio: 0.53% vs 0.59% a year ago
Nonperforming assets: $1,346 million, down 15.3% from December 31, 2025
Noninterest income q2: $3,325 million (+13.7% YoY)
Net interest income q2: $4,361 million (+7.7% YoY)
Return on average assets: 1.26% (Q2 2026)
Total available liquidity: $301,688 million at June 30, 2026
Allowance for credit losses: $7,979 million (1.94% of period-end loans)
Dividends declared per share: $0.52 vs $0.50 a year ago
Tangible book value per share: $30.04 (+13.3% YoY)
Return on tangible common equity: 18.7% (Q2 2026)

Price after filing

1 day: +0.2%7 days: +2.1%30 days: -0.7%

Close on the filing date to close N calendar days later (from $63.81). Historical, not a forecast.

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