US BANCORP \DE\ (USB) Company Report

U.S. Bancorp is piloting its own stablecoin on the Stellar blockchain to enable faster, cheaper, and more flexible institutional money movement.
The bank has established a dedicated digital assets division with KYC controls, transaction unwinding, and asset‐freeze capabilities to bolster security and compliance.
Stellar’s network offers 3–5 second settlement, transaction fees under a cent, and 99.99% uptime, making it well-suited for mission-critical financial services.
Supported by PwC and the Stellar Development Foundation, the trial targets cross-border payments and custody services, with current client demand stronger for custody than payments.

Nov 25, 2025, 2:26 PM

Bloomberg

U.S. Bank details payments strategy at BancAnalysts Boston Conference

USB

Product Launch

New Projects/Investments

U.S. Bank’s payments segment generates 26% of total revenue, with 90% fee-based income, within a $680 billion bank.
Credit card issuing ranks 7th nationally, with 70% of cardholders having FICO scores ≥ 720 (11 pp above industry) and 60% non-discretionary spend, balancing transactors and revolvers for diversified income streams.
Growth plans target mid-single-digit gains via digital investments, distribution expansion (proprietary, co-brand, Elan), and product innovations like Split Card Mastercard (BNPL Lite) and Business Essentials for small businesses.
Merchant acquiring (Elavon) is the 5th largest U.S. acquirer, delivering $1.8 billion of fee income (15% of bank fees), with strategies in embedded payments, software-enabled services, and vertical industry focus to drive growth and margins.

Nov 7, 2025, 2:50 PM

Transcript

U.S. Bank details payments strategy at Boston conference

USB

New Projects/Investments

Revenue Acceleration/Inflection

U.S. Bank’s payments businesses account for 26% of total revenue, with over 90% fee-based, and are aimed at mid-single-digit growth with upside potential.
The consumer & small business issuing unit holds a 7th market share, leveraging a diversified distribution model (proprietary, co-brand, Elan) and a high-credit-quality customer base (70% FICO ≥720).
Investments in digital and product innovation—including Smartly Rewards, Split Card BNPL, and expanded partnerships (Elan, Edward Jones)—are driving record new account acquisition and deeper client engagement.
Elavon, the bank’s merchant acquiring arm, is the 5th largest U.S. acquirer, generating $1.8 billion (15% of fee income) and focuses on embedded payments, differentiated distribution, and industry vertical solutions to sustain margins and accelerate growth.

Nov 7, 2025, 2:50 PM

Transcript

U.S. Bank outlines payments business strategies at BancAnalysts Association of Boston Conference

USB

U.S. Bank’s payments segment represents 26% of total revenue in its $680 billion franchise and is targeted to grow at mid-single digits, with upside potential through continued investments.
The bank’s card issuing arm holds a #7 market position, with 50% proprietary, robust co-brand and Elan white-label channels; over 70% of cardholders have FICO 720+; revenue splits roughly 1/3 fee and 2/3 net interest.
Investments include the Smartly product (40% consumer DDA penetration), a 20% year-over-year marketing increase, the Split Card BNPL launch, and a Business Essentials bundled small-business solution slated for 2026.
Elavon, U.S. Bank’s merchant acquiring arm, ranks 5th in the US, generating $1.8 billion in fee income (~15% of company) at ~50 bps/transaction; strategies emphasize embedded payments (4× core growth), shifting direct distribution to 50–60%, and industry vertical focus.

Nov 7, 2025, 2:50 PM

Transcript

U.S. Bancorp lowers prime rate to 7.00%

USB

U.S. Bancorp will decrease its prime lending rate from 7.25% to 7.00%, effective October 30, 2025, at all U.S. Bank locations.
As of September 30, 2025, the company holds $695 billion in assets and employs 70,000 people across its consumer, business, commercial, institutional banking, payments, and wealth management businesses.

Oct 29, 2025, 9:30 PM

Press Release

US Metro Bancorp announces Q3 2025 results

USB

Earnings

US Metro Bancorp reported $2.9 million in net income for Q3 2025 (up 69% YoY), with EPS of $0.18 versus $0.11 a year ago.
On a year-to-date basis, net interest income was $33.1 million (+26%), and net income reached $9.2 million (+45%) through September 30, 2025.
Total assets climbed to $1.569 billion (+13.2% YoY); gross loans grew by $140 million (12.4%), and deposits rose to $1.384 billion (+13.8%).
Asset quality metrics showed NPAs at 1.65% of total assets (versus 0.36% a year earlier) and an ACL-to-gross-loans ratio of 1.19%.
Year-to-date annualized ROAA was 0.72%, ROAE 9.99%, and book value per share reached $6.62, up from $6.11 a year earlier.

Oct 24, 2025, 5:19 PM

Press Release

U.S. Bancorp reports Q3 2025 results

USB

Earnings

Guidance Update

EPS of $1.22, up 18.4% YoY; record net revenue of $7.3 B, with 530 bps positive operating leverage, ROAA 1.17%, NIM 2.75% (Q3 2025).
Q4 guidance: net interest income ~$4.25 B (stable), fee revenue ~$3 B, non-interest expense +1–1.5% QoQ; 200 bps+ positive operating leverage (Q4 2025).
Balance sheet: ending assets $695 B; avg. deposits $512 B (+1.8% QoQ); avg. loans $379 B (+0.2% QoQ); NIM 2.75%, +9 bps sequentially (Q3 2025).
Credit quality: NPAs ratio 0.43% (−1 bp QoQ, −6 bps YoY); net charge-off ratio 0.56% (−3 bps QoQ, −4 bps YoY).
Capital: CET1 ratio 10.9%, +20 bps QoQ (Q3 2025).

Oct 16, 2025, 1:00 PM

Transcript

U.S. Bancorp reports Q3 2025 results

USB

Earnings

Guidance Update

U.S. Bancorp delivered EPS of $1.22, up 18.4% year-over-year, and a record net revenue of $7.3 billion driven by fee businesses and improved spread income.
Net interest income (FTE) totaled $4.25 billion , net interest margin was 2.75% , while average deposits reached $512 billion and loans $379 billion.
Fee revenue increased 9.5% year-over-year to approximately $3.08 billion, enabling positive operating leverage this quarter.
Credit metrics improved: nonperforming assets ratio was 0.43%, net charge-off ratio 0.56%, and common equity Tier 1 ratio climbed to 10.9%.
Q4 guidance calls for net interest income to remain around $4.25 billion, fee revenue of about $3.0 billion, noninterest expense up 1–1.5% sequentially, and over 200 bps of positive operating leverage.

Oct 16, 2025, 1:00 PM

Transcript

U.S. Bancorp reports Q3 2025 results

USB

Earnings

Record net revenue of $7,329 million, including a 9.5% increase in fee revenue year-over-year.
Net income attributable to U.S. Bancorp of $2,001 million, up 16.7%, and diluted EPS of $1.22, up 18.4% year-over-year.
Return on tangible common equity of 18.6%, return on average assets of 1.17%, and return on average common equity of 13.5%.
Net interest margin of 2.75%, efficiency ratio of 57.2%, and 530 basis points of positive operating leverage.
Common Equity Tier 1 capital ratio of 10.9% at September 30, 2025; average total loans up 1.4% year-over-year to $379.2 billion.

Oct 16, 2025, 10:49 AM

8-K

U.S. Bank establishes Digital Assets and Money Movement organization

USB

Management Change

New Projects/Investments

U.S. Bank has formed a new Digital Assets and Money Movement organization to drive emerging services including stablecoin issuance, cryptocurrency custody, asset tokenization and digital money movement.
Jamie Walker, a 20-year U.S. Bank payments veteran and current head of Merchant Payment Services (and CEO of Elavon), will lead the unit and report to Chief Digital Officer Dominic Venturo, remaining in his MPS role until a successor is named.
The group will serve as the bank’s central hub for digital asset strategy and expertise, aiming to accelerate revenue growth across these new digital products.
The announcement underscores U.S. Bank’s history of payments innovation, from early digital wallets and RTP integration to FedNow and embedded payment solutions.

Oct 15, 2025, 6:30 PM

Press Release

Earnings Transcripts

Quarterly earnings call transcripts for US BANCORP \DE\.

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