Exhibit 99.1




U.S. Bancorp Reports First Quarter 2018 Results

  Net revenue of $5,469 million and net income of $1,675 million

  Industry leading return on average assets of 1.50% and return on average common equity of 14.9%

  Return on tangible common equity of 19.3%



    1Q18 Key Financial Data


           1Q18 Highlights
 PROFITABILITY METRICS   1Q18      4Q17      1Q17               


 Return on average assets (%)

    1.50        1.46        1.35         

 Net income of $1,675 million and diluted earnings per common share of $0.96 in the first quarter of 2018


 Industry leading return on average assets of 1.50% and return on average common equity of 14.9%


 Returned 68% of 1Q earnings to shareholders through dividends and share buybacks


 Net interest income grew 5.5% year-over-year


 Total net revenue grew 3.4% year-over year

  Payment services revenue grew 6.5%

  Trust and investment management fees increased 8.2%

  Deposit service charges increased 5.8%


 Net interest margin of 3.13% was 7 basis points higher than 1Q17 and 2 basis points higher than 4Q17 (4 basis points excluding the impact of tax reform)


 Average total loans grew 2.3% year-over-year


 Return on average common equity (%)

    14.9        14.7        13.3         


 Return on tangible common equity (%) (a)

    19.3        18.8        17.2         


 Net interest margin (%)

    3.13        3.11        3.06         


 Efficiency ratio (%) (a)




















 INCOME STATEMENT (b)   1Q18      4Q17      1Q17             


 Net interest income (taxable-equivalent basis)

    $3,197        $3,228        $3,030         


 Noninterest income

    $2,272        $2,370        $2,259         


 Net income attributable to U.S. Bancorp

    $1,675        $1,682        $1,473         


 Diluted earnings per common share

    $.96        $.97        $.82         


 Dividends declared per common share




















 BALANCE SHEET (b)   1Q18      4Q17      1Q17             


 Average total loans

    $279,388        $279,751         $273,158         


 Average total deposits

    $334,580        $339,162         $328,433         


 Net charge-off ratio

    .49%       .46%       .50%        


 Book value per common share (period end)

    $26.54        $26.34         $25.05         


 Basel III standardized CET1 (c)

    9.0%       9.1%       9.2%        


(a) See Non-GAAP Financial Measures reconciliation on pages 16-17




(b) Dollars in millions, except per share data



(c) CET1 = Common equity tier 1 capital ratio, 4Q17 and 1Q17 as if fully implemented    



CEO Commentary


”We reported a solid first quarter, highlighted by a 19.3% return on average tangible common equity. We delivered solid growth in net interest income and high return fee businesses such as corporate payments, credit card, and wealth management and investment services. We continue to invest for the future and I’m pleased with the progress we are making on initiatives aimed at advancing our digital offerings and expanding our treasury management and payment services capabilities. This is a rapidly evolving banking environment and we are positioning this company to be a trusted partner to our customers, with the products and services that enable them to do what they want, when, where and how they want. As we continue on this journey, I am grateful to our customers for their trust and to our employees for their commitment to our continued success.”

— Andy Cecere, Chairman, President and CEO, U.S. Bancorp            



  In the Spotlight



Most Admired Super-Regional Bank

Fortune has named U.S. Bank a World’s Most Admired Company, naming it the world’s most admired super-regional bank for the eighth consecutive year and recognizing several of U.S. Bank’s attributes as most admired among all companies including being #1 in the categories of Management Quality and Use of Corporate Assets.

Best Employer for Diversity

Forbes magazine has named U.S. Bank a Best Employer for Diversity, including the bank in a first-ever list of top employers based on employee surveys, reputation research and public diversity leadership data.

One of the World’s Most Ethical Companies

Ethisphere Institute, the global leader in defining and advancing the standards of ethical business practices, has recognized U.S. Bank as a 2018 World’s Most Ethical Company®. This marks the fourth consecutive year U.S. Bank has earned this recognition.

A “Best Place to Work”

The Human Rights Campaign Foundation designated U.S. Bank as a “Best Place to Work” with a high score of 100 on its LGBTQ rights-focused Corporate Equality Index. Through its index, the Foundation evaluates businesses from a diverse set of industries in regards to their policies and benefits. As of 2018, U.S. Bank has proudly earned a score of 100 percent for 11 years in a row.




        Investor contact: Jennifer Thompson, 612.303.0778  |  Media contact: Stacey Wempen, 612.303.7620

The following information was filed by Us Bancorp De (USB) on Wednesday, April 18, 2018 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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