U.S. Bancorp Reports Fourth Quarter 2022 Results

Rhea-AI Summary

U.S. Bancorp announced its fourth-quarter 2022 results, with assets totaling $601 billion as of September 30, 2022. This press release highlights the company's diversified business models, including Consumer and Business Banking, Payment Services, Corporate & Commercial Banking, and Wealth Management. U.S. Bancorp's recent acquisition of Union Bank, focused on retail banking on the West Coast, is also noted. The company aims to continue its digital innovation and has been recognized for social responsibility, being named one of the 2022 World’s Most Ethical Companies.

Positive

• Total assets reported at $601 billion.
• Acquisition of Union Bank enhances retail banking presence on the West Coast.
• Recognition as one of the 2022 World’s Most Ethical Companies.

Negative

• None.

MINNEAPOLIS--(BUSINESS WIRE)-- U.S. Bancorp reported its fourth quarter 2022 results today. The earnings release, business line schedules and slide presentation can be accessed online at ir.usbank.com/investor-relations/financial-information.

At 8 a.m. Central Time, Chairman, President and Chief Executive Officer Andy Cecere and Vice Chair and Chief Financial Officer Terry Dolan will host a conference call to review the financial results. The conference call will be available online or by telephone. To access the webcast and presentation, visit U.S. Bancorp’s website at usbank.com and click on “About Us,” “Investor Relations” and “Webcasts & Presentations.” To access the conference call from locations within the United States and Canada, please dial 877-692-8955. Participants calling from outside the United States and Canada, please dial 234-720-6979. The access code for all participants is 6030554.

About U.S. Bank

U.S. Bancorp, with approximately 70,000 employees and $601 billion in assets as of September 30, 2022, is the parent company of U.S. Bank National Association. The Minneapolis-based company serves millions of customers locally, nationally and globally through a diversified mix of businesses: Consumer and Business Banking; Payment Services; Corporate & Commercial Banking; and Wealth Management and Investment Services. Union bank, consisting primarily of retail banking branches on the West Coast, joined U.S. Bancorp in 2022. The company has been recognized for its approach to digital innovation, social responsibility, and customer service, including being named one of the 2022 World’s Most Ethical Companies and Fortune’s most admired superregional bank. Learn more at usbank.com/about.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230125005088/en/

Investor contact: George Andersen, U.S. Bancorp Investor Relations

george.andersen@usbank.com, 612.303.3620



Media contact: Jeff Shelman, U.S. Bancorp Public Affairs and Communications

Jeffrey.shelman@usbank.com, 612.303.9933, @usbank_news

Source: U.S. Bancorp

FAQ

What are the key financial results for U.S. Bancorp in Q4 2022?

U.S. Bancorp reported total assets of $601 billion as of September 30, 2022.

How did U.S. Bancorp's acquisition of Union Bank impact its business?

The acquisition of Union Bank strengthens U.S. Bancorp's retail banking presence on the West Coast.

What recognition did U.S. Bancorp receive in 2022?

U.S. Bancorp was named one of the 2022 World’s Most Ethical Companies.

Who is leading the conference call for U.S. Bancorp's financial results?

Chairman and CEO Andy Cecere, along with CFO Terry Dolan, will lead the conference call.

How can I access U.S. Bancorp's fourth-quarter financial results?

The results can be accessed online at U.S. Bancorp's investor relations page.