U.S. Bancorp (USB) investor relations material

Financial performance and highlights

• Achieved net revenue of $7.29B and net income of $1.95B, with diluted EPS of $1.18, up 15% year-over-year.

• Return on tangible common equity reached 17%, and return on average assets was 1.15%.

• Net interest income grew 4.1% year-over-year, supported by strong loan growth and record consumer deposits.

• Fee revenue increased 6.9% year-over-year, driven by payments and capital markets momentum.

• Efficiency ratio improved by 260 basis points year-over-year due to cost savings and growth investments.

Business mix and client base

• Serves 15 million clients across the U.S., Canada, and Europe, with nearly 70,000 employees.

• Revenue mix: 46% Wealth, Corporate, Commercial & Institutional Banking; 31% Consumer & Business Banking; 23% Payment Services.

• Average assets totaled $688B, average deposits $515B, and average loans $394B as of Q1 2026.

• Client base includes ~13M consumer, ~1.4M business, ~480K wealth, and ~47K corporate/institutional clients.

Strategic growth initiatives

• Entered agreement to acquire BTIG, expanding capital markets and institutional client capabilities; deal expected to close Q2 2026.

• Announced multi-year NFL partnership as official bank and wealth management sponsor, including Super Bowl MVP Award sponsorship.

• Launched new Amazon Prime Business and Amazon Business cards for small businesses, offering rewards and flexible credit.