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 2013 EARNINGS

Achieves Record Earnings for the Full Year 2013

MINNEAPOLIS, January 22, 2014

U.S. Bancorp (NYSE: USB) today reported net income of $1,456 million for the fourth quarter of 2013, or $.76 per diluted common share, compared with $1,420 million, or $.72 per diluted common share, in the fourth quarter of 2012.

Highlights for the full year 2013 included:

 

   

Record full year 2013 net income of $5.8 billion, 3.3 percent higher than 2012

 

   

Record full year diluted earnings per common share of $3.00, 5.6 percent higher than 2012

 

   

Industry-leading performance measures, including return on average assets of 1.65 percent, return on average common equity of 15.8 percent and efficiency ratio of 52.4 percent

 

   

Returned 71 percent of 2013 earning to shareholders through dividend and share buybacks

Highlights for the fourth quarter of 2013 included:

 

   

Industry-leading performance ratios, including:

 

   

Return on average assets of 1.62 percent

 

   

Return on average common equity of 15.4 percent

 

   

Efficiency ratio of 54.9 percent

 

   

Growth in average total loans of 5.7 percent over the fourth quarter of 2012 (7.3 percent excluding covered loans) and 1.5 percent on a linked quarter basis (1.9 percent excluding covered loans)

 

   

Growth in average total commercial loans of 7.8 percent over the fourth quarter of 2012 and 1.3 percent over the third quarter of 2013

 

   

Growth in average total commercial real estate loans of 6.7 percent over the fourth quarter of 2012 and 2.1 percent over the third quarter of 2013

 

   

Growth in average commercial and commercial real estate commitments of 10.1 percent year-over-year and 2.7 percent over the prior quarter

(MORE)


The following information was filed by Us Bancorp De (USB) on Wednesday, January 22, 2014 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.

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