Exhibit 99.1

 

LOGO    News Release
   Contacts:   
   Thomas Joyce    Judith T. Murphy
   Media    Investors/Analysts
   (612) 303-3167                (612) 303-0783

U.S. BANCORP REPORTS FOURTH QUARTER AND FULL YEAR 2011 EARNINGS

Results Driven by Record Total Net Revenue and Lower Credit Costs

MINNEAPOLIS, January 18, 2012

— U.S. Bancorp (NYSE: USB) today reported net income of $1,350 million for the fourth quarter of 2011, or $.69 per diluted common share. Earnings for the fourth quarter of 2011 were driven by year-over-year growth in total net revenue and a lower provision for credit losses. Included in the fourth quarter of 2011 results were a $263 million gain from the settlement of litigation related to the termination of a merchant processing referral agreement (“merchant settlement gain”) and a $130 million expense accrual related to mortgage servicing matters. On a net basis, these two items increased fourth quarter 2011 diluted earnings per common share by $.05. Highlights for the fourth quarter of 2011 included:

 

  Ø Strong new lending activity of $70.0 billion (17.6 percent increase on a linked quarter basis) during the fourth quarter, including:

 

   

$21.5 billion of new commercial and commercial real estate commitments

 

   

$21.7 billion of commercial and commercial real estate commitment renewals

 

   

$2.3 billion of lines related to new credit card accounts

 

   

$24.5 billion of mortgage and other retail originations

 

  Ø Growth in average total loans of 5.9 percent (5.5 percent excluding acquisitions) over the fourth quarter of 2010

 

   

Growth in average total loans of 2.4 percent on a linked quarter basis, including average total commercial loan growth of 5.6 percent

 

   

Growth in average total loans, excluding covered loans, of 8.5 percent over the fourth quarter of 2010 and 3.0 percent over the prior quarter

 

   

Growth in average total commercial loans of 15.8 percent over the fourth quarter of 2010 (15.6 percent excluding acquisitions)

 

   

Growth in quarterly average commercial and commercial real estate commitments of 21.1 percent year-over-year and 7.2 percent over the prior quarter

(MORE)


The following information was filed by Us Bancorp De (USB) on Wednesday, January 18, 2012 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one year to another to evaluate Us Bancorp De's financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-K Annual Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by Us Bancorp De.

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account