Exhibit 99.1

 

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News Release

  
  

Contacts:

Dana Ripley

Media

(612) 303-3167    

  

Sean O’Connor

Investors/Analysts

(612) 303-0778

  

U.S. BANCORP REPORTS FOURTH QUARTER AND FULL YEAR 2015 EARNINGS

Achieves Record Net Income and EPS for the Full Year 2015

Full year return on average assets of 1.44 percent and average common equity of 14.0 percent

Returned 72 percent of full year earnings to shareholders

MINNEAPOLIS, January 15, 2016

U.S. Bancorp (NYSE: USB) today reported net income of $1,476 million for the fourth quarter of 2015, or $0.80 per diluted common share, compared with $1,488 million, or $0.79 per diluted common share, in the fourth quarter of 2014. The fourth quarter of 2015 reflected a gain on the sale of a deposit portfolio, partially offset by accruals related to legal and compliance matters that, combined, increased diluted earnings per common share by $.01.

Highlights for the full year of 2015 included:

 

  Ø Record full year diluted earnings per common share of $3.16, which were 2.6 percent higher than 2014

 

  Ø Industry-leading return on average assets of 1.44 percent and average common equity of 14.0 percent

 

  Ø Returned 72 percent of 2015 earnings to shareholders through dividends and share buybacks

Highlights for the fourth quarter of 2015 included:

 

  Ø Record quarterly revenue

 

  Ø Growth in average total loans of 4.2 percent over the fourth quarter of 2014 and 1.7 percent on a linked quarter basis (excluding student loans, which were transferred to held for sale at the end of the first quarter of 2015 and returned to held for investment on September 1, 2015)

 

  ¡

Growth in average total commercial loans of 9.0 percent over the fourth quarter of 2014 and 2.5 percent over the third quarter of 2015

 

  ¡

Growth in average auto loans of 13.0 percent over the fourth quarter of 2014 and 2.0 percent over the third quarter of 2015

 

(MORE)        


The following information was filed by Us Bancorp De (USB) on Friday, January 15, 2016 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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