$27.5B

In net revenue

17.2% 1

Return

on tangible common equity

8.9%

Decrease

in noninterest expenses year-over-year

0.8%

Increase

in average total deposits year-over-year

10.6%

Common Equity Tier 1 capital ratio

an increase of 70 basis points throughout 2024

4.0%

Increase

in noninterest income year-over-year

$100M

In share buybacks completed

10.4% 1

Increase

in tangible book value per share year-over-year

Financial Summary

* Not meaningful
(a) Based on a federal income tax rate of 21 percent for those assets and liabilities whose income or expense is not included for federal income tax purposes.
(b) See Non-GAAP Financial Measures beginning on page 57.
(c) Calculated as U.S. Bancorp common shareholders’ equity divided by common shares outstanding at end of the period.
(d) Excludes unrealized gains and losses on available-for-sale investment securities and any premiums or discounts recorded related to the transfer of investment securities at fair value from available-for-sale to held-to-maturity.

Start of disclosure content

Disclosures

  1. Footnote 1

    Return on tangible common equity and tangible book value per share are non-GAAP financial metrics. Please see Non-GAAP Financial Measures beginning on page 57.

    Return to content, Footnote 1