U.S. Bancorp (USB) Q2 FY2026 Financial Statements: Total net revenue $7.71B, Net income $2.18B
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PeriodQ2 FY2026
Published
U.S. Bancorp reported total net revenue of $7.71 billion on a taxable-equivalent basis in Q2 FY2026, the quarter ended June 30, 2026, up 10.1% from a year earlier, and net income attributable to U.S. Bancorp of $2.18 billion, up 19.9%, or $1.35 per diluted share against $1.11. Both of the bank's reported revenue streams grew: net interest income, as reported, was $4.36 billion, up 7.7% on loan growth and a better earning asset mix, lifting the net interest margin to 2.8% from 2.7%, while noninterest income of $3.33 billion was up 13.7% on broad fee growth and the first partial quarter from BTIG, the institutional brokerage firm U.S. Bancorp acquired during the period. Expenses grew more slowly than revenue, taking the efficiency ratio to 57.1% from 59.2%.
| Metric | Amount | vs. year ago |
|---|---|---|
| Total net revenue | $7,712,000,000 | up 10.1% |
| Net income | $2,177,000,000 | up 19.9% |
| Diluted EPS | $1.35 | up 21.6% |
| Net interest margin | 2.8% | up 0.1 points |
| Efficiency ratio | 57.1% | down 2.1 points |
| Net interest income | $4,361,000,000 | up 7.7% |
| Noninterest income | $3,325,000,000 | up 13.7% |
About this file
| Ticker | USB |
|---|---|
| CIK | 0000036104 |
| Company | U.S. Bancorp |
| Business type | bank |
| Schema template | bank |
| Reporting currency | USD |
| Converted to USD | no |
| Units | actual dollars (not millions); per-share amounts in dollars; share counts in actual shares; ratios and margins in percent |
USB annual income statement, balance sheet and cash flow
| FY2025 | FY2024 | FY2023 | |
|---|---|---|---|
| Fiscal year | 2025 | 2024 | 2023 |
| Label | FY2025 | FY2024 | FY2023 |
| Period start | 2025-01-01 | 2024-01-01 | 2023-01-01 |
| Period end | 2025-12-31 | 2024-12-31 | 2023-12-31 |
| Period type | fiscal year | fiscal year | fiscal year |
| Source accession | 0000036104-26-000011 | 0000036104-26-000011 | 0000036104-26-000011 |
| Income statement | |||
| Total interest income | 30,970,000,000 | 31,666,000,000 | 30,007,000,000 |
| Total interest expense | 14,321,000,000 | 15,377,000,000 | 12,611,000,000 |
| Net interest income | 16,649,000,000 | 16,289,000,000 | 17,396,000,000 |
| Provision for credit losses | 2,186,000,000 | 2,238,000,000 | 2,275,000,000 |
| Total noninterest income | 11,891,000,000 | 11,046,000,000 | 10,617,000,000 |
| Total noninterest expense | 16,837,000,000 | 17,188,000,000 | 18,873,000,000 |
| Income before income taxes | 9,517,000,000 | 7,909,000,000 | 6,865,000,000 |
| Applicable income taxes | 1,921,000,000 | 1,580,000,000 | 1,407,000,000 |
| Net income | 7,596,000,000 | 6,329,000,000 | 5,458,000,000 |
| Net income attributable to US bancorp | 7,570,000,000 | 6,299,000,000 | 5,429,000,000 |
| Net income applicable to common shareholders | 7,194,000,000 | 5,909,000,000 | 5,051,000,000 |
| Basic EPS | 4.62 | 3.79 | 3.27 |
| Diluted EPS | 4.62 | 3.79 | 3.27 |
| Average common shares outstanding | 1,557,000,000 | 1,560,000,000 | 1,543,000,000 |
| Diluted shares | 1,558,000,000 | 1,561,000,000 | 1,543,000,000 |
| Total net revenue taxable equivalent | 28,656,000,000 | 27,455,000,000 | 28,144,000,000 |
| Noninterest income breakdown | |||
| Card revenue | 1,735,000,000 | 1,679,000,000 | 1,630,000,000 |
| Corporate payment products revenue | 765,000,000 | 773,000,000 | 759,000,000 |
| Merchant processing services | 1,792,000,000 | 1,714,000,000 | 1,659,000,000 |
| Trust and investment management fees | 2,869,000,000 | 2,660,000,000 | 2,459,000,000 |
| Service charges | 1,302,000,000 | 1,253,000,000 | 1,306,000,000 |
| Capital markets revenue | 1,633,000,000 | 1,523,000,000 | 1,372,000,000 |
| Mortgage banking revenue | 645,000,000 | 627,000,000 | 540,000,000 |
| Investment products fees | 375,000,000 | 330,000,000 | 279,000,000 |
| Securities gains losses net | -61,000,000 | -154,000,000 | -145,000,000 |
| Other noninterest income | 836,000,000 | 641,000,000 | 758,000,000 |
| Noninterest expense breakdown | |||
| Compensation and employee benefits | 10,327,000,000 | 10,554,000,000 | 10,416,000,000 |
| Net occupancy and equipment | 1,227,000,000 | 1,246,000,000 | 1,266,000,000 |
| Professional services | 468,000,000 | 491,000,000 | 560,000,000 |
| Marketing and business development | 705,000,000 | 619,000,000 | 726,000,000 |
| Technology and communications | 2,211,000,000 | 2,074,000,000 | 2,049,000,000 |
| Other intangibles | 498,000,000 | 569,000,000 | 636,000,000 |
| Merger and integration charges | 0 | 155,000,000 | 1,009,000,000 |
| Other noninterest expense | 1,401,000,000 | 1,480,000,000 | 2,211,000,000 |
| Cash flow | |||
| Net cash provided by operating activities | 7,970,000,000 | 11,350,000,000 | 8,393,000,000 |
| Net cash used in investing activities | -20,538,000,000 | -24,534,000,000 | 18,925,000,000 |
| Net cash provided by financing activities | 2,250,000,000 | 8,821,000,000 | -19,998,000,000 |
| Proceeds from issuance of long term debt | 10,360,000,000 | 12,017,000,000 | 15,583,000,000 |
| Principal payments or redemption of long term debt | -9,052,000,000 | -6,042,000,000 | -4,084,000,000 |
| Repurchase of common stock | -489,000,000 | -173,000,000 | -62,000,000 |
| Cash dividends paid on preferred stock | -334,000,000 | -356,000,000 | -341,000,000 |
| Cash dividends paid on common stock | -3,168,000,000 | -3,092,000,000 | -2,970,000,000 |
| Cash and due from banks at end of period | 46,890,000,000 | 56,502,000,000 | 61,192,000,000 |
| Key metrics | |||
| Dividends declared per common share | 2.04 | 1.98 | 1.93 |
| Book value per common share | 37.55 | 33.19 | 31.13 |
| Tangible book value per common share | 29.12 | 24.63 | 22.3 |
| Return on average assets percent | 1.12 | 0.95 | 0.82 |
| Return on average common equity percent | 13 | 11.7 | 10.8 |
| Return on tangible common equity percent | 18.1 | 17.2 | 16.9 |
| Net interest margin taxable equivalent percent | 2.72 | 2.7 | 2.9 |
| Efficiency ratio percent | 58.6 | 62.3 | 66.7 |
| Net charge offs to average loans percent | 0.57 | 0.58 | 0.5 |
| Common equity tier 1 capital ratio percent | 10.8 | 10.6 | 9.9 |
| Tier 1 capital ratio percent | 12.3 | 12.2 | 11.5 |
| Total risk based capital ratio percent | 14.2 | 14.3 | 13.7 |
| Leverage ratio percent | 8.7 | 8.3 | 8.1 |
| Allowance for credit losses | 7,947,000,000 | 7,925,000,000 | 7,839,000,000 |
| Nonperforming assets | 1,590,000,000 | 1,832,000,000 | 1,494,000,000 |
| Balance sheet | |||
| Cash and due from banks | 46,890,000,000 | 56,502,000,000 | |
| Held to maturity investment securities | 76,170,000,000 | 78,634,000,000 | |
| Available for sale investment securities | 90,838,000,000 | 85,992,000,000 | |
| Loans held for sale | 2,538,000,000 | 2,573,000,000 | |
| Total loans | 391,335,000,000 | 379,832,000,000 | 373,835,000,000 |
| Allowance for loan losses | -7,605,000,000 | -7,583,000,000 | |
| Net loans | 383,730,000,000 | 372,249,000,000 | |
| Premises and equipment | 3,768,000,000 | 3,565,000,000 | |
| Goodwill | 12,635,000,000 | 12,536,000,000 | |
| Other intangible assets | 4,904,000,000 | 5,547,000,000 | |
| Total assets | 692,345,000,000 | 678,318,000,000 | 663,491,000,000 |
| Total deposits | 522,216,000,000 | 518,309,000,000 | 512,312,000,000 |
| Short term borrowings | 17,162,000,000 | 15,518,000,000 | |
| Long term debt | 60,764,000,000 | 58,002,000,000 | 51,480,000,000 |
| Total liabilities | 626,694,000,000 | 619,278,000,000 | |
| Preferred stock | 6,808,000,000 | 6,808,000,000 | |
| Total US bancorp shareholders equity | 65,193,000,000 | 58,578,000,000 | 55,306,000,000 |
| Noncontrolling interests | 458,000,000 | 462,000,000 | |
| Total equity | 65,651,000,000 | 59,040,000,000 | |
| Total investment securities | 153,751,000,000 | ||
USB quarterly income statement, balance sheet and cash flow
| Q2 2026 | Q2 2025 | |
|---|---|---|
| Label | Q2 2026 | Q2 2025 |
| Period start | 2026-04-01 | 2025-04-01 |
| Period end | 2026-06-30 | 2025-06-30 |
| Period type | three months | three months |
| Source accession | 0000036104-26-000044 | 0000036104-26-000044 |
| Income statement | ||
| Total interest income | 7,598,000,000 | 7,604,000,000 |
| Total interest expense | 3,237,000,000 | 3,553,000,000 |
| Net interest income | 4,361,000,000 | 4,051,000,000 |
| Provision for credit losses | 538,000,000 | 501,000,000 |
| Total noninterest income | 3,325,000,000 | 2,924,000,000 |
| Total noninterest expense | 4,428,000,000 | 4,181,000,000 |
| Income before income taxes | 2,720,000,000 | 2,293,000,000 |
| Applicable income taxes | 537,000,000 | 472,000,000 |
| Net income | 2,183,000,000 | 1,821,000,000 |
| Net income attributable to US bancorp | 2,177,000,000 | 1,815,000,000 |
| Net income applicable to common shareholders | 2,098,000,000 | 1,733,000,000 |
| Basic EPS | 1.35 | 1.11 |
| Diluted EPS | 1.35 | 1.11 |
| Average common shares outstanding | 1,554,000,000 | 1,559,000,000 |
| Diluted shares | 1,555,000,000 | 1,559,000,000 |
| Total net revenue taxable equivalent | 7,712,000,000 | 7,004,000,000 |
| Net interest income taxable equivalent | 4,387,000,000 | 4,080,000,000 |
| Noninterest income breakdown | ||
| Card revenue | 435,000,000 | 413,000,000 |
| Corporate payment and treasury management revenue | 440,000,000 | 421,000,000 |
| Merchant processing services | 485,000,000 | 474,000,000 |
| Trust and investment management fees | 785,000,000 | 703,000,000 |
| Lending and deposit related fees | 308,000,000 | 277,000,000 |
| Capital markets revenue | 512,000,000 | 315,000,000 |
| Mortgage banking revenue | 169,000,000 | 162,000,000 |
| Investment products fees | 102,000,000 | 90,000,000 |
| Securities gains losses net | -49,000,000 | -57,000,000 |
| Other noninterest income | 138,000,000 | 126,000,000 |
| Noninterest expense breakdown | ||
| Compensation and employee benefits | 2,685,000,000 | 2,600,000,000 |
| Net occupancy and equipment | 303,000,000 | 301,000,000 |
| Professional services | 112,000,000 | 109,000,000 |
| Marketing and business development | 216,000,000 | 161,000,000 |
| Technology and communications | 601,000,000 | 534,000,000 |
| Other intangibles | 114,000,000 | 124,000,000 |
| Other noninterest expense | 397,000,000 | 352,000,000 |
| Key metrics | ||
| Dividends declared per common share | 0.52 | 0.5 |
| Return on average assets percent | 1.26 | 1.08 |
| Return on average common equity percent | 14 | 12.9 |
| Return on tangible common equity percent | 18.7 | 18 |
| Net interest margin taxable equivalent percent | 2.79 | 2.66 |
| Efficiency ratio percent | 57.1 | 59.2 |
| Net charge offs to average loans percent | 0.53 | 0.59 |
| Book value per common share | 38.91 | 35.06 |
| Tangible book value per common share | 30.04 | 26.52 |
| Allowance for credit losses | 7,979,000,000 | |
| Nonperforming assets | 1,346,000,000 | |
| Common equity tier 1 capital ratio percent | 10.8 | |
| Tier 1 capital ratio percent | 12.2 | |
| Total risk based capital ratio percent | 14.4 | |
| Leverage ratio percent | 8.9 | |
| Balance sheet | ||
| Cash and due from banks | 66,491,000,000 | |
| Held to maturity investment securities | 74,085,000,000 | |
| Available for sale investment securities | 89,085,000,000 | |
| Loans held for sale | 3,038,000,000 | |
| Total loans | 410,300,000,000 | |
| Allowance for loan losses | -7,645,000,000 | |
| Net loans | 402,655,000,000 | |
| Premises and equipment | 3,847,000,000 | |
| Goodwill | 13,234,000,000 | |
| Other intangible assets | 4,999,000,000 | |
| Total assets | 725,918,000,000 | |
| Total deposits | 532,066,000,000 | |
| Short term borrowings | 37,337,000,000 | |
| Long term debt | 58,671,000,000 | |
| Total liabilities | 658,023,000,000 | |
| Preferred stock | 6,808,000,000 | |
| Total US bancorp shareholders equity | 67,432,000,000 | |
| Noncontrolling interests | 463,000,000 | |
| Total equity | 67,895,000,000 | |
USB year-to-date income statement and cash flow
| Six months ended June 30, 2026 | |
|---|---|
| Label | Six months ended June 30, 2026 |
| Period start | 2026-01-01 |
| Period end | 2026-06-30 |
| Period type | six months |
| Source accession | 0000036104-26-000044 |
| Prior year comparative | |
| Label | Six months ended June 30, 2025 |
| Period start | 2025-01-01 |
| Period end | 2025-06-30 |
| Period type | six months |
| Source accession | 0000036104-26-000044 |
| Income statement | |
| Total interest income | 15,120,000,000 |
| Total interest expense | 6,977,000,000 |
| Net interest income | 8,143,000,000 |
| Provision for credit losses | 1,038,000,000 |
| Total noninterest income | 5,760,000,000 |
| Total noninterest expense | 8,413,000,000 |
| Income before income taxes | 4,452,000,000 |
| Applicable income taxes | 915,000,000 |
| Net income | 3,537,000,000 |
| Net income attributable to US bancorp | 3,524,000,000 |
| Net income applicable to common shareholders | 3,336,000,000 |
| Basic EPS | 2.14 |
| Diluted EPS | 2.14 |
| Average common shares outstanding | 1,559,000,000 |
| Diluted shares | 1,560,000,000 |
| Total net revenue taxable equivalent | 13,962,000,000 |
| Net interest income taxable equivalent | 8,202,000,000 |
| Noninterest income breakdown | |
| Card revenue | 787,000,000 |
| Corporate payment and treasury management revenue | 821,000,000 |
| Merchant processing services | 889,000,000 |
| Trust and investment management fees | 1,383,000,000 |
| Lending and deposit related fees | 543,000,000 |
| Capital markets revenue | 607,000,000 |
| Mortgage banking revenue | 335,000,000 |
| Investment products fees | 177,000,000 |
| Securities gains losses net | -57,000,000 |
| Other noninterest income | 275,000,000 |
| Noninterest expense breakdown | |
| Compensation and employee benefits | 5,237,000,000 |
| Net occupancy and equipment | 607,000,000 |
| Professional services | 207,000,000 |
| Marketing and business development | 343,000,000 |
| Technology and communications | 1,067,000,000 |
| Other intangibles | 247,000,000 |
| Other noninterest expense | 705,000,000 |
| Key metrics | |
| Dividends declared per common share | 1 |
| Return on average assets percent | 1.06 |
| Return on average common equity percent | 12.6 |
| Return on tangible common equity percent | 17.7 |
| Net interest margin taxable equivalent percent | 2.69 |
| Efficiency ratio percent | 60 |
| Net charge offs to average loans percent | 0.59 |
| Cash flow | |
| Net cash provided by operating activities | 1,605,000,000 |
| Net cash used in investing activities | -3,918,000,000 |
| Net cash provided by financing activities | 2,869,000,000 |
| Proceeds from issuance of long term debt | 9,327,000,000 |
| Principal payments or redemption of long term debt | -3,750,000,000 |
| Repurchase of common stock | -266,000,000 |
| Cash dividends paid on preferred stock | -168,000,000 |
| Cash dividends paid on common stock | -1,571,000,000 |
| Cash and due from banks at end of period | 57,807,000,000 |
| Income statement | |
| Total interest income | 15,005,000,000 |
| Total interest expense | 6,381,000,000 |
| Net interest income | 8,624,000,000 |
| Provision for credit losses | 1,114,000,000 |
| Total noninterest income | 6,322,000,000 |
| Total noninterest expense | 8,693,000,000 |
| Income before income taxes | 5,139,000,000 |
| Applicable income taxes | 1,006,000,000 |
| Net income | 4,133,000,000 |
| Net income attributable to US bancorp | 4,122,000,000 |
| Net income applicable to common shareholders | 3,939,000,000 |
| Basic EPS | 2.53 |
| Diluted EPS | 2.53 |
| Average common shares outstanding | 1,554,000,000 |
| Diluted shares | 1,555,000,000 |
| Total net revenue taxable equivalent | 15,000,000,000 |
| Net interest income taxable equivalent | 8,678,000,000 |
| Noninterest income breakdown | |
| Card revenue | 826,000,000 |
| Corporate payment and treasury management revenue | 848,000,000 |
| Merchant processing services | 921,000,000 |
| Trust and investment management fees | 1,530,000,000 |
| Lending and deposit related fees | 602,000,000 |
| Capital markets revenue | 889,000,000 |
| Mortgage banking revenue | 330,000,000 |
| Investment products fees | 199,000,000 |
| Securities gains losses net | -84,000,000 |
| Other noninterest income | 261,000,000 |
| Noninterest expense breakdown | |
| Compensation and employee benefits | 5,313,000,000 |
| Net occupancy and equipment | 607,000,000 |
| Professional services | 204,000,000 |
| Marketing and business development | 433,000,000 |
| Technology and communications | 1,174,000,000 |
| Other intangibles | 224,000,000 |
| Other noninterest expense | 738,000,000 |
| Key metrics | |
| Dividends declared per common share | 1.04 |
| Return on average assets percent | 1.2 |
| Return on average common equity percent | 13.3 |
| Return on tangible common equity percent | 17.9 |
| Net interest margin taxable equivalent percent | 2.78 |
| Efficiency ratio percent | 57.6 |
| Net charge offs to average loans percent | 0.55 |
| Cash flow | |
| Net cash provided by operating activities | 6,160,000,000 |
| Net cash used in investing activities | -11,728,000,000 |
| Net cash provided by financing activities | 25,368,000,000 |
| Proceeds from issuance of long term debt | 7,386,000,000 |
| Principal payments or redemption of long term debt | -9,708,000,000 |
| Repurchase of common stock | -477,000,000 |
| Cash dividends paid on preferred stock | -160,000,000 |
| Cash dividends paid on common stock | -1,628,000,000 |
| Cash and due from banks at end of period | 66,491,000,000 |
USB trailing twelve month income statement and cash flow
| Twelve months ended June 30, 2026 | |
|---|---|
| Label | Twelve months ended June 30, 2026 |
| Period start | 2025-07-01 |
| Period end | 2026-06-30 |
| Period type | trailing twelve months |
| Source accession | 0000036104-26-000044 |
| Income statement | |
| Total interest income | 30,855,000,000 |
| Total interest expense | 13,725,000,000 |
| Net interest income | 17,130,000,000 |
| Provision for credit losses | 2,262,000,000 |
| Total noninterest income | 12,453,000,000 |
| Total noninterest expense | 17,117,000,000 |
| Income before income taxes | 10,204,000,000 |
| Applicable income taxes | 2,012,000,000 |
| Net income | 8,192,000,000 |
| Net income attributable to US bancorp | 8,168,000,000 |
| Net income applicable to common shareholders | 7,797,000,000 |
| Total net revenue taxable equivalent | 29,694,000,000 |
| Basic EPS | 5.01 |
| Diluted EPS | 5.01 |
| Average common shares outstanding | 1,554,500,000 |
| Diluted shares | 1,555,500,000 |
| Cash flow | |
| Net cash provided by operating activities | 12,525,000,000 |
| Net cash used in investing activities | -28,348,000,000 |
| Net cash provided by financing activities | 24,749,000,000 |
| Proceeds from issuance of long term debt | 8,419,000,000 |
| Principal payments or redemption of long term debt | -15,010,000,000 |
| Repurchase of common stock | -700,000,000 |
| Cash dividends paid on preferred stock | -326,000,000 |
| Cash dividends paid on common stock | -3,225,000,000 |
| Cash and due from banks at end of period | 66,491,000,000 |
| Key metrics | |
| Dividends declared per common share | 2.08 |
Adjustments
| Value | |
|---|---|
| Splits applied | none |
| ADR ratio | n/a |
| FX | none, U.S. Bancorp reports in U.S. dollars and no currency translation was required |
Notes
- U.S. Bancorp is a bank holding company, so this record uses a banking frame, net interest income, provision for credit losses, noninterest income and expense, loans, deposits, capital ratios and book value per common share, rather than the revenue/cost-of-sales and capital-expenditure lines used for an industrial company. Neither filing presents a capital expenditure line or a free cash flow measure, and neither is reported here.
- Annual figures are from the Form 10-K for the year ended December 31, 2025 (accession 0000036104-26-000011). That 10-K carries its audited financial statements in the 2025 Annual Report filed with it as Exhibit 13; the consolidated balance sheet, statement of income, statement of cash flows and Table 1 Selected Financial Data in that exhibit are the sources for every annual figure here. Quarterly, six-month and balance-sheet-at-June-30-2026 figures are from the Form 10-Q for the quarter ended June 30, 2026 (accession 0000036104-26-000044).
- The FY2025 10-K presents three years of income statement and cash flow (2025, 2024 and 2023) and two years of balance sheet (December 31, 2025 and 2024). FY2023 therefore carries no complete balance sheet: the period-end loans, investment securities, total assets, deposits, long-term debt and U.S. Bancorp shareholders' equity shown for 2023 are the only 2023 balance-sheet amounts the 10-K prints, and they come from its Table 1 Selected Financial Data rather than from the consolidated balance sheet.
- Effective January 1, 2026 the company reclassified certain fee revenue categories and loan portfolios to align reporting with how it now manages the businesses, and restated the prior-year comparative periods in the 10-Q on the new basis. Corporate payment products revenue was renamed corporate payment and treasury management revenue and now also includes treasury management revenue (previously in service charges) and stored-value card revenue (previously in card revenue); service charges was renamed lending and deposit-related fees and now also includes loan and leasing fees (previously in capital markets revenue); capital markets revenue now also includes tax credit investment syndication revenue and related fees (previously in other noninterest income); and small business credit card loans moved from the commercial loan portfolio to the credit card portfolio. Total noninterest income and total loans are unaffected.
- Because of that reclassification, the fee categories in the annual periods here are as the FY2025 10-K prints them, on the earlier basis, while the fee categories in the 2026 quarter, the 2025 comparative quarter and the six-month periods are on the new basis as the 10-Q prints them. The individual fee lines are consequently not directly comparable between the annual and the quarterly tables; the totals are. The same applies to the loan mix: the 10-Q restates December 31, 2025 commercial loans to $148,161 million and credit card loans to $38,031 million, against the $153,958 million and $32,234 million the 10-K prints, with total loans unchanged at $391,335 million. The December 31, 2025 balance sheet recorded here shows the totals, which are identical in both filings.
- Total net revenue is carried as the company presents it, on a taxable-equivalent basis: net interest income plus the taxable-equivalent adjustment, plus noninterest income. That adjustment was $26 million in the second quarter of 2026, $54 million for the first six months of 2026 and $116 million in 2025. Adding the reported net interest income and noninterest income lines in this record gives the figure before the adjustment; adding the taxable-equivalent net interest income line instead gives the total.
- Return on tangible common equity, tangible book value per common share, the efficiency ratio, net interest income on a taxable-equivalent basis and total net revenue on a taxable-equivalent basis are measures the company designates as non-GAAP and reconciles within both filings; they are reported here exactly as the company states them.
- The 10-Q's consolidated statement of cash flows presents six-month columns only, so there is no discrete three-month cash flow for either the June 2026 or the June 2025 quarter. The six-month cash flows appear in the year-to-date block, and the quarterly entries carry no cash flow section.
- The 10-Q's balance sheet is presented at June 30, 2026 and December 31, 2025, so the Q2 2025 entry carries no balance sheet. Its book value and tangible book value per common share at June 30, 2025 are the ones the 10-Q's Table 1 Selected Financial Data prints for that date.
- The trailing twelve months block is derived, not printed in either filing: fiscal 2025 plus the six months ended June 30, 2026 less the six months ended June 30, 2025. Its per-share amounts are the sum of the reported per-share amounts of those periods and its share counts are the weighted average across the four quarters covered. The cash balance shown in that block is the actual balance at June 30, 2026, not a rolled-forward figure. No trailing-twelve-month fee breakdown is given, because the fee categories changed part way through the window.
- U.S. Bancorp reports in U.S. dollars, has had no stock split in the period these filings cover, and is not an ADR issuer, so no currency, split or per-ADS adjustment was applied to any figure.
Uncertainties
- No discrete three-month statement of cash flows exists for the June 2026 or June 2025 quarter in the material these filings provide: the 10-Q presents six-month columns only, and the second-quarter 2026 earnings release furnished with the Form 8-K of July 16, 2026 (accession 0000036104-26-000039) contains no statement of cash flows. Quarterly operating, investing and financing cash flows are therefore absent rather than estimated.
- The first quarter of 2026 is not presented as a discrete column in either filing and is not reported here. U.S. Bancorp reports its first-quarter 2026 results in its quarterly earnings release rather than in the Form 10-Q, and this record is built from the 10-K and the 10-Q.
- FY2023 carries only the six period-end balance-sheet amounts the 10-K's Table 1 prints for that year; total liabilities, total equity, cash, securities detail and goodwill at December 31, 2023 are not in these filings and are left out rather than sourced from elsewhere.
- The trailing-twelve-month figures are arithmetic from the three published periods, not amounts the company reports. Its diluted earnings per share of $5.01 is the sum of the reported per-share amounts; income applicable to common shareholders divided by the weighted diluted share count over the same window gives $5.01 as well, so the two readings agree to the cent, but neither is a figure the company publishes.
- Annual fee revenue categories and the 2026 fee revenue categories are not on the same basis, as described in the notes. A comparison of any single fee line between an annual period and a 2026 period would be misleading; the totals are comparable.
Company details
| Value | |
|---|---|
| Name | Us Bancorp \De\ |
| Ticker | USB |
| CIK | 0000036104 |
| Exchange | NYSE |
| State | Minnesota |
| Incorporation | Delaware |
| SIC | 6021 |
| Office | Finance |
| Industry | National Commercial Banks |
Fiscal period
| FY2026 | |
|---|---|
| Fiscal year | 2026 |
| Fiscal period | Q2 |
| Tag | FY26Q2 |
| Period end | 2026-06-30 |
| Form | 10-Q |
| Accession | 0000036104-26-000044 |
| Fiscal year end | 1231 |
| Source | facts |
Source filings
| Role | Current | Form | Fiscal year | Fiscal period | Tag | Period end | Filed | Accession | Url | Source |
|---|---|---|---|---|---|---|---|---|---|---|
| annual | no | 10-K | 2025 | FY | FY25 | 2025-12-31 | 2026-02-23 | 0000036104-26-000011 | https://www.sec.gov/Archives/edgar/data/36104/000003610426000011/0000036104-26-000011-index.htm | reported |
| quarterly | yes | 10-Q | 2026 | Q2 | FY26Q2 | 2026-06-30 | 2026-08-06 | 0000036104-26-000044 | https://www.sec.gov/Archives/edgar/data/36104/000003610426000044/0000036104-26-000044-index.htm | facts |
FAQ · U.S. Bancorp financial statements
How much did U.S. Bancorp earn in Q2 FY2026?
U.S. Bancorp reported net income attributable to the company of $2.18 billion for Q2 FY2026, the quarter ended June 30, 2026, up 19.9% from $1.81 billion in the same quarter a year earlier. That worked out to $1.35 per diluted share, against $1.11 a year earlier.
What was U.S. Bancorp's revenue in Q2 FY2026?
U.S. Bancorp reported total net revenue of $7.71 billion on a taxable-equivalent basis for Q2 FY2026, the quarter ended June 30, 2026, up 10.1% from $7.00 billion a year earlier. Net interest income as reported was $4.36 billion and noninterest income was $3.33 billion. Those two reported lines sum to slightly less than the total, because the total is stated on a taxable-equivalent basis and adds a taxable-equivalent adjustment to reported net interest income.
What was U.S. Bancorp's net interest margin in Q2 FY2026?
U.S. Bancorp's net interest margin on a taxable-equivalent basis was 2.8% in Q2 FY2026, the quarter ended June 30, 2026, up from 2.7% in the same quarter a year earlier.
What was U.S. Bancorp's efficiency ratio in Q2 FY2026?
U.S. Bancorp's efficiency ratio was 57.1% in Q2 FY2026, the quarter ended June 30, 2026, an improvement from 59.2% a year earlier, because revenue grew faster than noninterest expense. A lower efficiency ratio means a smaller share of revenue is consumed by operating costs.
Where can I get U.S. Bancorp (USB) financial data in machine-readable form?
Ticker Scout publishes U.S. Bancorp's financial statements as JSON at https://tickerscout.ai/usb/financials.json, free, with no API key and no signup. The 10-K and 10-Q narrative and the 8-K events digest are published as Markdown at https://tickerscout.ai/usb/narrative.md and https://tickerscout.ai/usb/events.md. U.S. Bancorp's SEC CIK is 0000036104. Every figure cites the SEC accession number it came from, so it can be checked against sec.gov.
When does U.S. Bancorp (USB) next file with the SEC?
U.S. Bancorp (USB) is expected to file its next Form 10-Q with the SEC on or around November 4, 2026. That date is a projection rather than a company-announced date: it is derived from U.S. Bancorp's own filing history with the SEC, by taking the date the company filed the same fiscal period a year earlier and adding 52 weeks. The most recent periodic report on file is the 10-Q for Q2 FY2026, the period ended 2026-06-30, SEC accession 0000036104-26-000044.
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How this page was built
This page was built from three of U.S. Bancorp's own filings with the SEC, read one at a time. Nothing on it is taken from a pre-tagged dataset, a data vendor or another website. The figures are on the company's own fiscal calendar and in actual dollars, as the filings report them. Where the filings do not support a figure, the record says so instead of reporting a zero; this period names five such gaps.
A single company files thousands of pages with the SEC in a year, and no two companies file them the same way, so the reading and the assembly here are done by AI rather than by rules that break on the differences. Every pass is then audited back against the filings it came from before the page is published, and anything the filings do not support is left out and named rather than filled in. AI can still make mistakes. That is why the accession numbers are printed: the filing is the authority, and this page is a route to it.
Published by Ticker Scout, an independent publisher of company filings data. About Ticker Scout · Disclaimer
Built from U.S. Bancorp's SEC filings by Ticker Scout; accession numbers are cited throughout so every figure can be checked against sec.gov. Free to cite with attribution: Ticker Scout (tickerscout.ai). Not investment advice, see the Disclaimer.