Skip to main content

U.S. Bancorp 3Q profit grows 16 percent to break another record

U.S. Bancorp, parent company of U.S. Bank, posted a record net income of $1.47 billion, a 16 percent jump from $1.27 billion a year-earlier, Bloomberg reports. “Earnings included continued strong mortgage-banking activity, which contributed to our growth in fee income, residential real estate loans and loans held for sale,” said CEO Richard Davis.
  • Author:
  • Updated:
    Original:

U.S. Bancorp, parent company of U.S. Bank, posted a record net income of $1.47 billion, a 16 percent jump from $1.27 billion a year-earlier, Bloomberg reports. “Earnings included continued strong mortgage-banking activity, which contributed to our growth in fee income, residential real estate loans and loans held for sale,” said CEO Richard Davis.

The Star Tribune reports this is the 12th consecutive quarter that the Minneapolis-based lender has posted double-digit, year-over-year profit growth.

Click here, for the complete third-quarter earnings report.

Click here, to follow U.S. Bancorp’s stock performance.

Next Up

Crane Lake

Flooding expected to worsen in MN's Arrowhead region

Hundreds of private homes are at-risk in northern St. Louis County.

St. Paul Police crash

St. Paul police: Kids in stolen car rammed squad, hid in porta-potty

The incident sent the Minnesota Capitol into a brief lockdown.

IMG_7030

Watch: Storm updates after heavy hail slams Twin Cities

Sven Sundgaard is providing an update after Thursday's flash hail storm.

kim crockett facebook sos

MN GOP apologizes over antisemitic sequence in candidate's campaign video

Party leader says candidate didn't know the imagery perpetuated an antisemitic trope.

storm, severe

Tornado, severe thunderstorm watches issued in Minnesota

In addition to possible tornadoes, there is a threat for damaging winds and very large hail.

House sale keys door

High prices, stiff competition putting off homebuyers in Twin Cities

Prices continue to rise in the metro, but there are signs of buyer fatigue.

Screen Shot 2022-05-19 at 1.59.51 PM

Series of explosions at manufacturing plant injures 6 in Wisconsin

The blast rocked the Wisconsin town just before 7:45 a.m.

police lights squad car dark - Unsplash

Medford man dies in Le Sueur County crash

The 49-year-old was not wearing a seatbelt at the time of the crash.

Denisovan molar

MN researcher part of team behind 'revolutionary' discovery of ancient tooth in Laos

The molar found in a remote cave is believed to have belonged to a Denisovan girl who lived 164,000-130,000 years ago.

Eagle Ridge Middle School

Charges: Sting catches MN principal trying to hire child prostitute

Authorities alleged Mohamed Selim attempted to meet a 15-year-old girl for sex on Tuesday.

cub donuts 1

Nominate a 'local hero' to get a dozen Cub donuts from Salvation Army

The organization is looking for 1,000 volunteers to help with the effort in the metro.

Related

U.S. Bancorp's 2Q profit jumps 18 percent

Minneapolis-based U.S. Bancorp reported high-than-expected quarterly profit as revenue rose and set aside less money for bad loans. The fifth-largest U.S. commercial bank posted a net income of $1.42 billion in the second-quarter.

CHS profits up 13 percent in 3Q

Inver Grove Heights-based CHS Inc. -- the largest farmer-owned cooperative in the United States -- reported net income of $405 million thanks to strong energy performance. Revenue increased nearly 5 percent to hit $11 billion. The Wall Street Journal notes CHS reported its second-quarter profit dropped 60 percent.

U.S. Bancorp revenue surges 39 percent

The Minneapolis-based bank beat Wall Street expectations posting a $1.35 billion profit in the fourth quarter. U.S. Bank also posted record earnings of $4.87 billion for the year. The company reports lending activity increased more than 16 percent.

US Bancorp profit up 40 percent

The Minneapolis bank -- the fifth largest in the country -- reports profits are up significantly for the third quarter this year. The bank has grown its lending business and benefited as fewer borrowers fall behind.

Polaris profits surge 40 percent in 3Q

Boosted by double-digit sales growth across all of its product lines, Polaris Industries Inc. posted a net income of $94.3 million, a 40 percent jump from $67.6 million in the third quarter a year-ago, the Associated Press reports. The Medina-based all-terrain vehicles maker also lifted its full-year outlook for the third time.

U.S. Bancorp third-largest mortgage lending originator

U.S. Bancorp beat banking giants Bank of America and Citigroup in the first quarter of the year. Wells Fargo and JPMorgan Chase continue to dominate the unrivaled market share.

Land O'Lakes profits rebound in 3Q

Land O'Lakes Inc. posted net income of $18 million in the third-quarter, compared to a $30 million loss a year earlier, the Star Tribune reports. The Arden Hills-based co-op also reported a seven percent increase in sales.